<PAGE>
- - -------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) June 15,1998
DLJ Commercial Mortgage Corp.
- - -------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-32019 13-3956945
- - -------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 892-3000
---------------
- - -------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
- - -------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events.
It is expected that during June 1998, a single series of certificates,
entitled DLJ Commercial Mortgage Corp., Commercial Mortgage Pass-Through
Certificates, Series 1998-CG1 (the "Certificates"), will be issued pursuant to
a pooling and servicing agreement (the "Pooling and Servicing Agreement"), to
be entered into by and among DLJ Commercial Mortgage Corp. (the "Registrant"),
GE Capital Loan Services, Inc., as servicer (the "Servicer"), Midland Loan
Services, Inc., as special servicer (the "Special Servicer") and Norwest Bank
Minnesota, National Association, as trustee (the "Trustee") and REMIC
administrator ("REMIC Administrator"). Certain classes of the Certificates (the
"Underwritten Certificates") will be registered under the Registrant's
registration statement on Form S-3 (no. 333-32019) and sold to Donaldson,
Lufkin & Jenrette Securities Corporation (the "Underwriter") pursuant to an
underwriting agreement (the "Underwriting Agreement") to be entered into by and
between the Registrant and the Underwriter.
In connection with the expected sale of the Underwritten Certificates,
the Underwriter has advised the Registrant that it has furnished to prospective
investors certain information attached hereto as Exhibit 99.1 that may be
considered "Computational Materials" (as defined in the no-action letter dated
May 20, 1994 issued by the Division of Corporation Finance of the Securities
and Exchange Commission (the "Commission") to Kidder, Peabody Acceptance
Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder Structured Asset
Corporation and the no-action letter dated May 27, 1994 issued by the Division
of Corporation Finance of the Commission to the Public Securities Association)
and "ABS Term Sheets" (as defined in the no-action letter dated February 17,
1995 issued by the Division of Corporation Finance of the Commission to the
Public Securities Association).
The Computational Materials and ABS Term Sheets attached hereto have
been prepared and provided to the Registrant by the Underwriter. The
information in such Computational Materials and ABS Term Sheets is preliminary
and will be superseded by the final Prospectus Supplement relating to the
Underwritten Certificates and by any other information subsequently filed with
the Commission. To the extent any Computational Materials and ABS Term Sheets
previously filed by the Registrant with respect to the Underwritten
Certificates are inconsistent with the Computational Materials and ABS Term
Sheets attached hereto, such previously filed Computational Materials and ABS
Term Sheets are superseded by the Computational Materials and ABS Term Sheets
attached hereto.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
Exhibit No. Description
99.1 Computational Materials and ABS Term Sheets, dated June 15,
1998, prepared by Donaldson, Lufkin & Jenrette Securities
Corporation.
-2-
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: June 15, 1998
DLJ COMMERCIAL MORTGAGE CORP.
By: /s/ N. Dante LaRocca
--------------------------------------
Name: N. Dante LaRocca
Title: Senior Vice President
<PAGE>
EXHIBIT INDEX
The following exhibits are filed herewith:
Exhibit No. Page No.
99.1 Computational Materials and ABS Term Sheets, dated
June 15, 1998, prepared by Donaldson, Lufkin &
Jenrette Securities Corporation.
-4-
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
COMMERCIAL MORTGAGE TRADING
- - ------------------------------------------------------------------------------
$1,564,253,433 (+/- 5%)
(Initial Mortgage Pool Balance)
'Column-GECA Conduit I'
DLJ COMMERCIAL MORTGAGE CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-CG1
Class S, Class A-1A, Class A-1B, Class A-1C, Class A-2, Class A-3, Class A-4,
Class B-1, Class B-2, Class B-3
Mortgage Loan Sellers
Column Financial, Inc. GE Capital Access, Inc.
** PRELIMINARY SUMMARY MEMORANDUM **
Dated June 15, 1998
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus and
prospectus supplement and by subsequent summary memoranda. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
COMMERCIAL MORTGAGE TRADING
- - ------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
<TABLE>
<CAPTION>
|----------------------------------------------------------------------------------------------------------------------------------|
||--------------------------------------------------------------------------------------------------------------------------------||
|| Servicing Fee ||
||--------------------------------------------------------------------------------------------------------------------------------||
| |
||--------------------------------------------------------------------------------------------------------------------------------||
|| ------------------------------- ||
|| Class S AAA Public | |------| |------| |-------| | ||
|| | |Public| |Public| |Private| | ||
|| | | | | | | | | ||
|| | | | | | | | | ||
|| |--------| | | | | | | | ||
|| | |------| | | | | | | | ||
|| | |Public| | | | | | | | ||
|| |--------| | | | | | | | | | ||
|| | |------| | | | | | | | | | ||
|| |--------| |Public| | | | | | | | | |-------------------------------------||
|| |--------| |------| | | | | | | | | | | |-------| |-------| |-------| |-------||
|| |--------| |------| |Public| | | | | | | | | | | |Private| |Private| |Private| |Private||
|| |--------| |------| |Public| | | | | | | | | | | | | | | | | | | | ||
|| | |------| |Public| | | | | | | | | | | | | | | | | | | | | | ||
|| | |Public| | | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
||------| | | | | | | | | | | | | | | | | | | | | | | | | | ||
||------| | | | | | | | | | | | | | | | | | | | | | | | | | ||
||Public| | | | | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
||Class | |Class | |Class | |Class | |Class | |Class | |Class | |Class | |Class | | Class | | Class | | Class | | Class | | Class ||
||A-1A | |A-1B | |A-1C | | A-2 | | A-3 | | A-4 | | B-1 | | B-2 | | B-3 | | B-4 | | B-5 | | B-6 | | B-7 | | C ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
|| AAA | | AAA | | AAA/ | | AA | | A | | A/A- | | BBB | | BBB- | | BBB- | | BB | | BB- | | B | | B- | | NR ||
|| | | | | AA+ | | | | | | | | | | | | | | | | | | | | | | ||
|| | | | | | | | | | | | | | | | | | | | | | | | | | | ||
||------| |------| |------| |------| |------| |------| |------| |------| |------| |-------| |-------| |-------| |-------| |-------||
|----------------------------------------------------------------------------------------------------------------------------------|
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
<TABLE>
<CAPTION>
Rating ($) (%) (%) Avg Price Aprx
Class (Fitch/S&P) Balance Balance Sub Life(1) Maturity(1) Talk Index Price Status ERISA
- - -------- ------------- -------------- ------- ----- ------- ----------- --------- -------- ------- ----------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
S AAA/AAAr 1,564,253,433 na na 9.8 May-23 250-275 Curve 5-22 Public Yes
A-1A AAA/AAA 291,005,000 18.60 28.00 5.7 Dec-07 60 Area Curve 99-28 Public Yes
A-1B AAA/AAA 835,257,000 53.40 28.00 9.7 May-08 80 Area 10 Yr UST 101-00 Public Yes
A-1C AAA/AA+ 39,106,000 2.50 25.50 9.9 May-08 85 Area 10 Yr UST 101-00 Public No
A-2 AA/AA 39,106,000 2.50 23.00 9.9 May-08 90 Area 10 Yr UST 101-00 Public No
A-3 A/A 78,213,000 5.00 18.00 9.9 Jun-08 105 Area 10 Yr UST 101-00 Public No
A-4 A/A- 23,464,000 1.50 16.50 9.9 Jun-08 118 Area 10 Yr UST 101-00 Public No
B-1 BBB/BBB 70,391,000 4.50 12.00 10.3 May-10 130 Area 10 Yr UST 101-00 Public No
B-2 BBB-/BBB- 23,464,000 1.50 10.50 13.0 Sep-12 170 Area Curve 101-00 Public No
B-3 BBB-/NR 15,643,000 1.00 9.50 14.5 Jan-13 190 Area Curve 99-29 Public No
B-4 BB/BB 66,481,000 4.25 5.25 14.8 May-13 ****** ** (2) ** ****** Private-144A No
B-5 BB-/NR 15,642,000 1.00 4.25 14.9 Jun-13 ****** ** (3) ** ****** Private-144A No
B-6 B/NR 27,374,000 1.75 2.50 16.2 Dec-16 ****** ** (3) ** ****** Private-144A No
B-7 B-/NR 15,643,000 1.00 1.50 19.5 Jun-18 ****** ** (3) ** ****** Private-144A No
C NR 23,464,433 1.50 0.00 23.0 May-23 ****** ** (3) ** ****** Private-144A No
-------------
Total 1,564,253,433
=============
</TABLE>
(1) Reflects average life and maturity. Assumes 0% CPR, no defaults and no
extensions. (2) Not Publicly Offered (3) Sold
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
COMMERCIAL MORTGAGE TRADING
- - ------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
- - -------------------------------------------------------------------------------
Collateral: The Trust Fund will consist of a pool of 301 fixed-rate,
monthly-pay mortgage loans with an aggregate balance of
approximately $1,564,253,433 as of June 1, 1998 (Cut-Off
Date), which are secured by a first lien on a fee and/or
leasehold interest in multifamily or commercial
properties. The properties are located throughout 33
states and the District of Columbia with the largest
concentrations (by balance) in CA 14.8% (43 loans), NY
11.9% (16 loans) and FL 9.6% (29 loans).
- - ------------------------------------------------------------------------------
Mortgage Loan The mortgage loans were originated or acquired primarily
Originators: between March 1997 and May 1998 by Column Financial, Inc.
(Column) and by affiliates of GE Capital Access, Inc.
(GECA). Approximately 52.3% (by balance) of the mortgage
loans are being contributed by GECA and 47.7% (by balance)
are being contributed by Column to the Trust Fund.
Column, an indirect wholly owned subsidiary of Donaldson,
Lufkin & Jenrette, Inc., was created in August 1993.
Column has originated $3.9 Billion commercial mortgage
loans since its inception. Column sources, underwrites and
closes mortgage loans through 10 regional offices located
throughout the country.
GECA is a wholly owned subsidiary of General Electric
Capital Corporation (GECC). Since its formation in 1996,
GECA, through its affiliates, has originated or acquired
over $1.5 billion of commercial mortgage loans. Through
its Real Estate division, GECC has been lending and
investing in the commercial real estate industry for over
25 years and has a portfolio of approximately $12 billion
of assets. GECC originates and acquires commercial
mortgage loans through approximately 20 offices located
throughout North America.
- - ------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
Servicer: GE Capital Loan Services, Inc. Lead Manager: Donaldson, Lufkin & Jenrette Securities
Corporation, Sole Manager
- - -----------------------------------------------------------------------------------------------------------------------------------
Special Servicer: Midland Loan Services, Inc. Settlement: June 29, 1998
- - -----------------------------------------------------------------------------------------------------------------------------------
Rating Fitch IBCA, Inc. Trustee: Norwest Bank Minnesota, National Association
Agencies: Standard & Poor's Ratings Services
</TABLE>
- - -------------------------------------------------------------------------------
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
C O M M E R C I A L M O R T G A G E T R A D I N G
- - ------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
- - ------------------------------------------------------------------------------
Extensions: The Special Servicer will not be permitted to grant any
extension of the maturity of a mortgage loan beyond 36
months of such mortgage loan's stated maturity date.
- - -------------------------------------------------------------------------------
Controlling Class: The Controlling Class of Certificateholders may appoint a
Special Servicer and replace the existing Special Servicer.
Controlling Class - will be the most subordinate class of
certificates which has a current aggregate certificate
principal amount greater than 25% (or in the case of the
Class C certificates, 20%) of its original aggregate
certificate principal balance.
- - -------------------------------------------------------------------------------
Advances: Advances subject to recoverability determination and
appraisal reductions.
- - ------------------------------------------------------------------------------
Prepayment All of the mortgage loans provide for either a prepayment
Protection and lockout period ("Lockout"), a defeasance period
Distribution: ("Defeasance"), a yield maintenance premium ("YMP") period
and/or a prepayment premium ("PP") period or a combination
thereof.
The certificate yield maintenance amount ("CYMA") for the
P&I classes equals the total yield maintenance premium
collected, multiplied by a fraction (not greater than one
or less than zero) of which, (i) the numerator is equal to
the excess of a specified class pass-through rate over the
relevant Discount Rate and (ii) the denominator is equal
to the excess of the mortgage rate on the related loan
over the relevant Discount Rate. The yield maintenance
amount for the interest only certificates will equal the
total yield maintenance premium less the CYMA.
The certificate prepayment premium amount ("CPPA") for the
P&I classes effected equals 15% of the total prepayment
premium collected. The prepayment premium amount for the
interest only certificates will equal the total prepayment
premium less the CPPA.
- - -------------------------------------------------------------------------------
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
C O M M E R C I A L M O R T G A G E T R A D I N G
- - ------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
- - ------------------------------------------------------------------------------
Priority of On each distribution date, interest will be distributed to
Interest: each of the classes in the following order of priority:
1. Class S, A-1A and A-1B, pro rata
2. Class A-1C
3. Class A-2
4. Class A-3
5. Class A-4
6. Class B-1
7. Class B-2
8. Class B-3
9. Class B-4
10. Class B-5
11. Class B-6
12. Class B-7
13. Class C
- - ------------------------------------------------------------------------------
Priority of On each distribution date, principal will be distributed
Principal: and losses will be allocated to each of the classes in
the following order of priority:
Scheduled and Prepayments(1) Losses
---------------------------- --------------------------
1. Class A-1A 1. Class C
2. Class A-1B(2) 2. Class B-7
3. Class A-1C 3. Class B-6
4. Class A-2 4. Class B-5
5. Class A-3 5. Class B-4
6. Class A-4 6. Class B-3
7. Class B-1 7. Class B-2
8. Class B-2 8. Class B-1
9. Class B-3 9. Class A-4
10. Class B-4 10. Class A-3
11. Class B-5 11. Class A-2
12. Class B-6 12. Class A-1C
13. Class B-7 13. Class A-1A and A-1B,
14. Class C pro rata
(1) None of the following classes will receive any principal
distributions until all classes, if any, listed above it
are retired.
(2) Pro rata with Class A-1A and Class A-1B if the balances of
Classes A-1C through C are reduced to zero on account of
losses.
- - -------------------------------------------------------------------------------
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
C O M M E R C I A L M O R T G A G E T R A D I N G
- - ------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
- - ------------------------------------------------------------------------------
Largest Loans: Rivergate Apartments
401 E. 34th Street, New York, New York
Multifamily Property
o LTV: 62.3%
o DSCR: 1.75x
o OCC: 97.0%
o Cut-Off Date Balance: $ 94,602,208 (6.0%)
Rivergate Apartments (the "Property") is a 35-story
multifamily apartment building built in 1985 and composed
of 706 residential units containing approximately 632,557
net rentable square feet of multifamily apartment space,
19,938 net rentable square feet of office space, 2,000
square feet of retail space and an on-site parking garage.
Amenities include: river views; unit security systems; 24
hour doormen; a roof top sun deck and an on-site health
club. The property is located in the Murray Hill District
of New York City.
As of 1996, units in the Property that become vacant cease
to be subject to New York State's rent stabilization laws.
Consequently, many existing rents are below market. As
tenants vacate, the mortgagor executes new leases,
generally at higher rental rates that are not subject to
the rent stabilization laws.
The Mortgagor is a limited-purpose limited partnership,
with Donald Zucker as controlling principal. Manhattan
Skyline Management Corp., an affiliate of the Mortgagor,
manages the Property.
- - -------------------------------------------------------------------------------
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - -------------------------------------------------------------------------------
C O M M E R C I A L M O R T G A G E T R A D I N G
- - -------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
- - -------------------------------------------------------------------------------
Raritan Center Industrial Portfolio
Various Addresses, Edison Township, New Jersey
The Raritan Center Loans are cross-collateralized and
cross-defaulted:
Office Property
o LTV: 74.3%
o DSCR: 1.28x
o OCC: 99.0%
o Cut-Off Date Balance: $ 27,484,832 (1.8%)
Industrial Properties
o LTV: 71.8%
o DSCR: 1.22x
o OCC: 94.0%
o Cut-Off Date Balance: $ 24,486,486 (1.6%)
The Raritan Center Properties (the "Properties") consist
of a Class A office building comprising 260,604 square
feet of space and a group of nine industrial buildings
comprising, in the aggregate, 804,196 square feet of
space. Each Raritan Center Property is located within
Raritan Center, a 100-building development comprising
10,000,000 square feet of industrial, office and hotel
space.
The Properties are located in Edison, New Jersey,
approximately 35 miles southwest of New York City and 35
miles northeast of Philadelphia, at the crossroads of the
New Jersey Turnpike, the Garden State Parkway and
Interstate Route 287. This transportation access makes all
of Raritan Center particularly desirable for both
industrial and office users.
Each Property is managed by SAI Management Inc., an
affiliate of the Raritan Center Mortgagors who manage over
2.5 million square feet in 30 buildings.
- - -------------------------------------------------------------------------------
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
C O M M E R C I A L M O R T G A G E T R A D I N G
- - ------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
- - ------------------------------------------------------------------------------
The Resurgens Plaza
945 East Paces Ferry Road, Atlanta, Georgia
Office Property
o LTV: 45.6%
o DSCR: 2.10x
o OCC: 96.0%
o Cut-Off Date Balance: $ 32,859,589 (2.1%)
The Resurgens Plaza Property (the "Property") consists of
a 27-story office building containing 388,119 net rentable
square feet. The property is located in the Buckhead
section of northern Atlanta, Georgia, in close proximity
to Lenox Square and Phipps Plaza (Atlanta's premier
shopping malls) and the Ritz Carlton and J.W. Marriott
hotels.
Insignia Commercial Group, Inc., which is not an affiliate
of the Resurgens Plaza Mortgagor, manages the Property. A
commingled trust fund advised by J.P. Morgan Investment
Management, Inc. is a constituent member of the Resurgens
Plaza Mortgagor.
The interest of the Resurgens Plaza Mortgagor in the
Resurgens Plaza Property consists of a leasehold estate in
the real property in the lower ten floors of the building,
which comprise a parking garage, and a fee interest in the
air rights and the 17 floors above the leasehold parcel
where the office space is located.
- - -------------------------------------------------------------------------------
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
- - -------------------------------------------------------------------------------
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
- - -------------------------------------------------------------------------------
Real Estate Finance Group
- - ------------------------------------------------------------------------------
C O M M E R C I A L M O R T G A G E T R A D I N G
- - ------------------------------------------------------------------------------
DLJ Commercial Mortgage Corp.
Commercial Mortgage Pass-Through Certificates, Series 1998-CG1
'Column-GECA Conduit I'
- - ------------------------------------------------------------------------------
The Camargue
303 East 83rd Street, New York, New York
Multifamily Property
o LTV: 66.9%
o DSCR: 1.38x
o OCC: 99.0%
o Cut-Off Date Balance: $ 29,900,164 (1.9%)
The Camargue Property (the "Property") consists of a
32-story, 261-unit multifamily apartment building located
in New York City. It comprises 210,295 net rentable square
feet of multifamily apartment space, and 5,275 net
rentable square feet of retail space. Amenities include:
24 hour doormen; a roof top sun deck, recreation area,
parking facility and a laundry.
The Mortgagor is a special purpose limited liability
corporation controlled by Llyod Goldman and family. BLDG
Management Co., Inc., an affiliate of the Mortgagor,
manages the Property.
- - -------------------------------------------------------------------------------
- - -------------------------------------------------------------------------------
This investment summary is a computational, structural and/or collateral term
sheet prepared solely for informational purposes. No offer to sell or
solicitation of any offer to purchase securities is being made hereby. This
summary is designed for use by Donaldson, Lufkin & Jenrette Securities
Corporation personnel to assist them in determining whether potential
investors wish to proceed with an in-depth investigation of the proposed
subject offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by Donaldson,
Lufkin & Jenrette Securities Corporation or any of its respective affiliates.
Therefore, none of Donaldson, Lufkin & Jenrette Securities Corporation nor any
of its respective affiliates make any representations or warranties with
respect to the information contained herein or as to the appropriateness,
usefulness or completeness of these materials. Any computational information
set forth herein (including without limitation any computations of yields and
weighted average life) is hypothetical and based on certain assumptions
(including without limitation assumptions regarding the rate and timing of
voluntary and involuntary prepayments of the mortgage loan/loans or
assumptions that the mortgage loan/loans will not be prepaid voluntarily or
involuntarily or liquidated). The actual characteristics and performance of
the mortgage loan/loans will differ from such assumptions and such differences
may be material. This document is subject to errors, omissions and changes in
the information and is subject to modification or withdrawal at any time with
or without notice. These materials and the information contained herein
supersedes any and all information contained in any previously furnished
computational, structural and/or collateral terms sheets and shall be
superseded by any subsequently furnished terms sheets. These materials and the
information contained herein shall be superseded by a final prospectus,
prospectus supplement or similar private placement memorandum. No purchase of
any securities may be made unless and until a final prospectus, prospectus
supplement or similar private placement memorandum has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The contents herein are not to be reproduced without
the express written consent of Donaldson, Lufkin & Jenrette Securities
Corporation. Donaldson, Lufkin & Jenrette Securities Corporation and its
affiliates expressly reserve the right, at their sole discretion, to reject
any or all proposals or expressions of interest in the subject proposed
offering and to terminate discussions with any party at any time with or
without notice.
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 A1A
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $291,005,000 Gross WAC : 7.2352
Pass-Thru Rate : 5.9500 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
98.00000 98-00 6.436 4.50 6.440 4.46 6.443 4.43 6.446 4.40 6.454 4.32
98.12500 98-04 6.408 6.412 6.415 6.417 6.424
98.25000 98-08 6.380 6.383 6.386 6.389 6.395
98.37500 98-12 6.352 6.355 6.357 6.360 6.366
98.50000 98-16 6.324 6.327 6.329 6.331 6.337
98.62500 98-20 6.296 6.298 6.300 6.302 6.307
98.75000 98-24 6.268 6.270 6.272 6.274 6.278
98.87500 98-28 6.240 6.242 6.244 6.245 6.249
99.00000 99-00 6.212 4.53 6.214 4.48 6.215 4.45 6.217 4.42 6.220 4.34
99.12500 99-04 6.184 6.186 6.187 6.188 6.191
99.25000 99-08 6.157 6.158 6.159 6.160 6.162
99.37500 99-12 6.129 6.130 6.131 6.132 6.134
99.50000 99-16 6.101 6.102 6.103 6.103 6.105
99.62500 99-20 6.074 6.074 6.075 6.075 6.076
99.75000 99-24 6.046 6.047 6.047 6.047 6.047
99.87500 99-28 6.019 6.019 6.019 6.019 6.019
99.87670 99-28 6.019 4.54 6.019 4.50 6.018 4.46 6.018 4.43 6.018 4.35
100.00000 100-00 5.992 5.991 5.991 5.991 5.990
100.12500 100-04 5.964 5.964 5.963 5.963 5.962
100.25000 100-08 5.937 5.936 5.935 5.935 5.933
100.37500 100-12 5.910 5.909 5.908 5.907 5.905
100.50000 100-16 5.882 5.881 5.880 5.879 5.876
100.62500 100-20 5.855 5.854 5.852 5.851 5.848
100.75000 100-24 5.828 5.826 5.825 5.823 5.820
100.87500 100-28 5.801 4.56 5.799 4.52 5.797 4.48 5.796 4.45 5.791 4.37
101.00000 101-00 5.774 5.772 5.770 5.768 5.763
101.12500 101-04 5.747 5.745 5.742 5.740 5.735
101.25000 101-08 5.720 5.717 5.715 5.713 5.707
101.37500 101-12 5.693 5.690 5.688 5.685 5.679
101.50000 101-16 5.667 5.663 5.660 5.658 5.651
101.62500 101-20 5.640 5.636 5.633 5.630 5.623
101.75000 101-24 5.613 5.609 5.606 5.603 5.595
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 5.70 5.63 5.57 5.52 5.39
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 7/10/98 7/10/98 7/10/98 7/10/98 7/10/98
Last Pay 12/10/07 9/10/07 7/10/07 4/10/07 11/10/06
Prin. Window 114 111 109 106 101
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 A1B
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $835,257,000 Gross WAC : 7.2352
Pass-Thru Rate : 6.2900 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.12500 99-04 6.475 7.02 6.475 7.00 6.476 6.98 6.476 6.95 6.478 6.83
99.25000 99-08 6.457 6.457 6.458 6.458 6.460
99.37500 99-12 6.439 6.440 6.440 6.440 6.441
99.50000 99-16 6.422 6.422 6.422 6.422 6.423
99.62500 99-20 6.404 6.404 6.404 6.404 6.405
99.75000 99-24 6.386 6.386 6.386 6.386 6.386
99.87500 99-28 6.368 6.368 6.368 6.368 6.368
100.00000 100-00 6.351 6.351 6.351 6.350 6.350
100.12500 100-04 6.333 7.04 6.333 7.02 6.333 7.00 6.333 6.97 6.332 6.85
100.25000 100-08 6.315 6.315 6.315 6.315 6.314
100.37500 100-12 6.298 6.298 6.297 6.297 6.296
100.50000 100-16 6.280 6.280 6.280 6.279 6.278
100.62500 100-20 6.263 6.262 6.262 6.262 6.260
100.75000 100-24 6.245 6.245 6.244 6.244 6.242
100.87500 100-28 6.228 6.227 6.227 6.226 6.224
101.00000 101-00 6.210 6.210 6.209 6.209 6.206
101.00140 101-00 6.210 7.06 6.210 7.04 6.209 7.02 6.208 6.99 6.205 6.86
101.12500 101-04 6.193 6.192 6.192 6.191 6.188
101.25000 101-08 6.175 6.175 6.174 6.173 6.170
101.37500 101-12 6.158 6.157 6.157 6.156 6.152
101.50000 101-16 6.141 6.140 6.139 6.138 6.134
101.62500 101-20 6.123 6.123 6.122 6.121 6.116
101.75000 101-24 6.106 6.105 6.104 6.103 6.098
101.87500 101-28 6.089 6.088 6.087 6.086 6.081
102.00000 102-00 6.071 7.08 6.071 7.06 6.070 7.04 6.068 7.01 6.063 6.88
102.12500 102-04 6.054 6.053 6.052 6.051 6.045
102.25000 102-08 6.037 6.036 6.035 6.034 6.027
102.37500 102-12 6.020 6.019 6.018 6.016 6.010
102.50000 102-16 6.003 6.002 6.001 5.999 5.992
102.62500 102-20 5.986 5.985 5.983 5.982 5.975
102.75000 102-24 5.968 5.968 5.966 5.965 5.957
102.87500 102-28 5.951 5.950 5.949 5.947 5.939
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 9.70 9.67 9.62 9.57 9.33
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 12/10/07 9/10/07 7/10/07 4/10/07 11/10/06
Last Pay 5/10/08 5/10/08 5/10/08 5/10/08 2/10/08
Prin. Window 6 9 11 14 16
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 A1C
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $39,106,000 Gross WAC : 7.2352
Pass-Thru Rate : 6.3400 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.12500 99-04 6.525 7.09 6.525 7.09 6.525 7.09 6.525 7.09 6.527 6.96
99.25000 99-08 6.508 6.508 6.508 6.508 6.509
99.37500 99-12 6.490 6.490 6.490 6.490 6.491
99.50000 99-16 6.472 6.472 6.472 6.472 6.473
99.62500 99-20 6.455 6.455 6.455 6.455 6.455
99.75000 99-24 6.437 6.437 6.437 6.437 6.437
99.87500 99-28 6.420 6.420 6.420 6.420 6.420
100.00000 100-00 6.402 6.402 6.402 6.402 6.402
100.12500 100-04 6.385 7.11 6.385 7.11 6.385 7.11 6.385 7.11 6.384 6.98
100.25000 100-08 6.367 6.367 6.367 6.367 6.366
100.37500 100-12 6.350 6.350 6.350 6.350 6.348
100.50000 100-16 6.332 6.332 6.332 6.332 6.331
100.62500 100-20 6.315 6.315 6.315 6.315 6.313
100.75000 100-24 6.298 6.298 6.298 6.298 6.295
100.87500 100-28 6.280 6.280 6.280 6.280 6.278
101.00000 101-00 6.263 6.263 6.263 6.263 6.260
101.02150 101-00+ 6.260 7.13 6.260 7.13 6.260 7.13 6.260 7.13 6.257 7.00
101.12500 101-04 6.246 6.246 6.246 6.246 6.242
101.25000 101-08 6.228 6.228 6.228 6.228 6.225
101.37500 101-12 6.211 6.211 6.211 6.211 6.207
101.50000 101-16 6.194 6.194 6.194 6.194 6.190
101.62500 101-20 6.177 6.177 6.177 6.177 6.172
101.75000 101-24 6.160 6.160 6.160 6.160 6.155
101.87500 101-28 6.143 6.143 6.143 6.143 6.137
102.00000 102-00 6.126 7.15 6.126 7.15 6.126 7.15 6.126 7.15 6.120 7.01
102.12500 102-04 6.109 6.109 6.109 6.109 6.103
102.25000 102-08 6.092 6.092 6.092 6.092 6.085
102.37500 102-12 6.075 6.075 6.075 6.075 6.068
102.50000 102-16 6.058 6.058 6.058 6.058 6.051
102.62500 102-20 6.041 6.041 6.041 6.041 6.033
102.75000 102-24 6.024 6.024 6.024 6.024 6.016
102.87500 102-28 6.007 6.007 6.007 6.007 5.999
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 9.86 9.86 9.86 9.86 9.61
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 5/10/08 5/10/08 5/10/08 5/10/08 2/10/08
Last Pay 5/10/08 5/10/08 5/10/08 5/10/08 2/10/08
Prin. Window 1 1 1 1 1
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 A2
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $39,106,000 Gross WAC : 7.2352
Pass-Thru Rate : 6.3900 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.12500 99-04 6.577 7.07 6.577 7.07 6.577 7.07 6.577 7.07 6.579 6.94
99.25000 99-08 6.559 6.559 6.559 6.559 6.560
99.37500 99-12 6.541 6.541 6.541 6.541 6.542
99.50000 99-16 6.524 6.524 6.524 6.524 6.524
99.62500 99-20 6.506 6.506 6.506 6.506 6.507
99.75000 99-24 6.488 6.488 6.488 6.488 6.489
99.87500 99-28 6.471 6.471 6.471 6.471 6.471
100.00000 100-00 6.453 6.453 6.453 6.453 6.453
100.12500 100-04 6.436 7.09 6.436 7.09 6.436 7.09 6.436 7.09 6.435 6.96
100.25000 100-08 6.418 6.418 6.418 6.418 6.417
100.37500 100-12 6.401 6.401 6.401 6.401 6.399
100.50000 100-16 6.383 6.383 6.383 6.383 6.382
100.62500 100-20 6.366 6.366 6.366 6.366 6.364
100.75000 100-24 6.348 6.348 6.348 6.348 6.346
100.87500 100-28 6.331 6.331 6.331 6.331 6.328
101.00000 101-00 6.314 6.314 6.314 6.314 6.311
101.02710 101-01 6.310 7.11 6.310 7.11 6.310 7.11 6.310 7.11 6.307 6.98
101.12500 101-04 6.296 6.296 6.296 6.296 6.293
101.25000 101-08 6.279 6.279 6.279 6.279 6.275
101.37500 101-12 6.262 6.262 6.262 6.262 6.258
101.50000 101-16 6.245 6.245 6.245 6.245 6.240
101.62500 101-20 6.227 6.227 6.227 6.227 6.223
101.75000 101-24 6.210 6.210 6.210 6.210 6.205
101.87500 101-28 6.193 6.193 6.193 6.193 6.188
102.00000 102-00 6.176 7.13 6.176 7.13 6.176 7.13 6.176 7.13 6.170 7.00
102.12500 102-04 6.159 6.159 6.159 6.159 6.153
102.25000 102-08 6.142 6.142 6.142 6.142 6.136
102.37500 102-12 6.125 6.125 6.125 6.125 6.118
102.50000 102-16 6.108 6.108 6.108 6.108 6.101
102.62500 102-20 6.091 6.091 6.091 6.091 6.084
102.75000 102-24 6.074 6.074 6.074 6.074 6.066
102.87500 102-28 6.057 6.057 6.057 6.057 6.049
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 9.86 9.86 9.86 9.86 9.61
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 5/10/08 5/10/08 5/10/08 5/10/08 2/10/08
Last Pay 5/10/08 5/10/08 5/10/08 5/10/08 2/10/08
Prin. Window 1 1 1 1 1
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 A3
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $78,213,000 Gross WAC : 7.2352
Pass-Thru Rate : 6.5300 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.00000 99-00 6.738 7.05 6.738 7.04 6.738 7.04 6.738 7.03 6.740 6.93
99.12500 99-04 6.720 6.720 6.720 6.721 6.722
99.25000 99-08 6.703 6.703 6.703 6.703 6.704
99.37500 99-12 6.685 6.685 6.685 6.685 6.686
99.50000 99-16 6.667 6.667 6.667 6.667 6.668
99.62500 99-20 6.649 6.649 6.649 6.649 6.650
99.75000 99-24 6.632 6.632 6.632 6.632 6.632
99.87500 99-28 6.614 6.614 6.614 6.614 6.614
100.00000 100-00 6.596 7.07 6.596 7.06 6.596 7.06 6.596 7.04 6.596 6.95
100.12500 100-04 6.579 6.579 6.579 6.579 6.578
100.25000 100-08 6.561 6.561 6.561 6.561 6.560
100.37500 100-12 6.544 6.544 6.544 6.544 6.543
100.50000 100-16 6.526 6.526 6.526 6.526 6.525
100.62500 100-20 6.509 6.509 6.509 6.508 6.507
100.75000 100-24 6.491 6.491 6.491 6.491 6.489
100.87500 100-28 6.474 6.474 6.474 6.473 6.472
100.97540 100-31 6.460 7.09 6.460 7.08 6.460 7.07 6.459 7.06 6.457 6.97
101.00000 101-00 6.457 6.456 6.456 6.456 6.454
101.12500 101-04 6.439 6.439 6.439 6.439 6.436
101.25000 101-08 6.422 6.422 6.422 6.421 6.419
101.37500 101-12 6.405 6.404 6.404 6.404 6.401
101.50000 101-16 6.387 6.387 6.387 6.387 6.383
101.62500 101-20 6.370 6.370 6.370 6.369 6.366
101.75000 101-24 6.353 6.353 6.352 6.352 6.348
101.87500 101-28 6.336 7.11 6.335 7.10 6.335 7.09 6.335 7.08 6.331 6.99
102.00000 102-00 6.318 6.318 6.318 6.317 6.313
102.12500 102-04 6.301 6.301 6.301 6.300 6.296
102.25000 102-08 6.284 6.284 6.284 6.283 6.279
102.37500 102-12 6.267 6.267 6.266 6.266 6.261
102.50000 102-16 6.250 6.250 6.249 6.249 6.244
102.62500 102-20 6.233 6.233 6.232 6.232 6.226
102.75000 102-24 6.216 6.216 6.215 6.215 6.209
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 9.92 9.90 9.89 9.87 9.69
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 5/10/08 5/10/08 5/10/08 5/10/08 2/10/08
Last Pay 6/10/08 6/10/08 6/10/08 6/10/08 3/10/08
Prin. Window 2 2 2 2 2
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 A4
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $23,464,000 Gross WAC : 7.2352
Pass-Thru Rate : 6.6500 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.00000 99-00 6.861 7.02 6.861 7.02 6.861 7.02 6.861 7.02 6.864 6.90
99.12500 99-04 6.844 6.844 6.844 6.844 6.845
99.25000 99-08 6.826 6.826 6.826 6.826 6.827
99.37500 99-12 6.808 6.808 6.808 6.808 6.809
99.50000 99-16 6.790 6.790 6.790 6.790 6.791
99.62500 99-20 6.772 6.772 6.772 6.772 6.773
99.75000 99-24 6.755 6.755 6.755 6.755 6.755
99.87500 99-28 6.737 6.737 6.737 6.737 6.737
100.00000 100-00 6.719 7.04 6.719 7.04 6.719 7.04 6.719 7.04 6.719 6.92
100.12500 100-04 6.702 6.702 6.702 6.702 6.701
100.25000 100-08 6.684 6.684 6.684 6.684 6.683
100.37500 100-12 6.666 6.666 6.666 6.666 6.665
100.50000 100-16 6.649 6.649 6.649 6.649 6.647
100.62500 100-20 6.631 6.631 6.631 6.631 6.629
100.75000 100-24 6.614 6.614 6.614 6.614 6.611
100.87500 100-28 6.596 6.596 6.596 6.596 6.594
100.92050 100-29+ 6.590 7.06 6.590 7.06 6.590 7.06 6.590 7.06 6.587 6.94
101.00000 101-00 6.579 6.579 6.579 6.579 6.576
101.12500 101-04 6.561 6.561 6.561 6.561 6.558
101.25000 101-08 6.544 6.544 6.544 6.544 6.540
101.37500 101-12 6.527 6.527 6.527 6.527 6.523
101.50000 101-16 6.509 6.509 6.509 6.509 6.505
101.62500 101-20 6.492 6.492 6.492 6.492 6.488
101.75000 101-24 6.475 6.475 6.475 6.475 6.470
101.87500 101-28 6.458 7.08 6.458 7.08 6.458 7.08 6.458 7.08 6.452 6.95
102.00000 102-00 6.440 6.440 6.440 6.440 6.435
102.12500 102-04 6.423 6.423 6.423 6.423 6.417
102.25000 102-08 6.406 6.406 6.406 6.406 6.400
102.37500 102-12 6.389 6.389 6.389 6.389 6.382
102.50000 102-16 6.372 6.372 6.372 6.372 6.365
102.62500 102-20 6.355 6.355 6.355 6.355 6.347
102.75000 102-24 6.338 6.338 6.338 6.338 6.330
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 9.95 9.95 9.95 9.95 9.70
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 6/10/08 6/10/08 6/10/08 6/10/08 3/10/08
Last Pay 6/10/08 6/10/08 6/10/08 6/10/08 3/10/08
Prin. Window 1 1 1 1 1
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 B1
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $70,391,000 Gross WAC : 7.2352
Pass-Thru Rate : 6.7700 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.00000 99-00 6.982 7.17 6.982 7.16 6.982 7.16 6.982 7.15 6.984 7.07
99.12500 99-04 6.965 6.965 6.965 6.965 6.966
99.25000 99-08 6.947 6.947 6.947 6.947 6.948
99.37500 99-12 6.930 6.930 6.930 6.930 6.930
99.50000 99-16 6.912 6.912 6.912 6.912 6.913
99.62500 99-20 6.895 6.895 6.895 6.895 6.895
99.75000 99-24 6.877 6.877 6.877 6.877 6.878
99.87500 99-28 6.860 6.860 6.860 6.860 6.860
100.00000 100-00 6.843 7.19 6.843 7.18 6.843 7.18 6.843 7.18 6.842 7.09
100.12500 100-04 6.825 6.825 6.825 6.825 6.825
100.25000 100-08 6.808 6.808 6.808 6.808 6.807
100.37500 100-12 6.791 6.791 6.791 6.791 6.790
100.50000 100-16 6.774 6.774 6.774 6.774 6.773
100.62500 100-20 6.757 6.756 6.756 6.756 6.755
100.75000 100-24 6.739 6.739 6.739 6.739 6.738
100.87500 100-28 6.722 6.722 6.722 6.722 6.720
100.96470 100-31 6.710 7.21 6.710 7.20 6.710 7.20 6.710 7.20 6.708 7.11
101.00000 101-00 6.705 6.705 6.705 6.705 6.703
101.12500 101-04 6.688 6.688 6.688 6.688 6.686
101.25000 101-08 6.671 6.671 6.671 6.671 6.669
101.37500 101-12 6.654 6.654 6.654 6.654 6.651
101.50000 101-16 6.637 6.637 6.637 6.637 6.634
101.62500 101-20 6.620 6.620 6.620 6.620 6.617
101.75000 101-24 6.603 6.603 6.603 6.603 6.600
101.87500 101-28 6.586 7.23 6.586 7.22 6.586 7.22 6.586 7.22 6.583 7.13
102.00000 102-00 6.569 6.569 6.569 6.569 6.566
102.12500 102-04 6.553 6.552 6.552 6.552 6.548
102.25000 102-08 6.536 6.536 6.535 6.535 6.531
102.37500 102-12 6.519 6.519 6.519 6.518 6.514
102.50000 102-16 6.502 6.502 6.502 6.502 6.497
102.62500 102-20 6.485 6.485 6.485 6.485 6.480
102.75000 102-24 6.469 6.468 6.468 6.468 6.463
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 10.34 10.33 10.32 10.32 10.15
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 6/10/08 6/10/08 6/10/08 6/10/08 3/10/08
Last Pay 5/10/10 5/10/10 5/10/10 5/10/10 3/10/10
Prin. Window 24 24 24 24 25
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 B2
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $23,464,000 Gross WAC : 7.2352
Pass-Thru Rate : 7.1503 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.12500 99-04 7.375 8.15 7.376 8.11 7.376 8.09 7.376 8.07 7.377 8.05
99.25000 99-08 7.360 7.360 7.360 7.361 7.361
99.37500 99-12 7.344 7.345 7.345 7.345 7.346
99.50000 99-16 7.329 7.329 7.330 7.330 7.330
99.62500 99-20 7.314 7.314 7.314 7.314 7.314
99.75000 99-24 7.298 7.299 7.299 7.299 7.299
99.87500 99-28 7.283 7.283 7.283 7.284 7.284
100.00000 100-00 7.268 7.268 7.268 7.268 7.268
100.12500 100-04 7.253 8.18 7.253 8.14 7.253 8.12 7.253 8.10 7.253 8.08
100.25000 100-08 7.238 7.237 7.237 7.238 7.237
100.37500 100-12 7.222 7.222 7.222 7.222 7.222
100.50000 100-16 7.207 7.207 7.207 7.207 7.207
100.62500 100-20 7.192 7.192 7.192 7.192 7.192
100.75000 100-24 7.177 7.177 7.177 7.177 7.176
100.87500 100-28 7.162 7.162 7.161 7.161 7.161
101.00000 101-00 7.147 7.147 7.146 7.146 7.146
101.00450 101-00 7.147 8.20 7.146 8.17 7.146 8.14 7.146 8.13 7.145 8.10
101.12500 101-04 7.132 7.132 7.131 7.131 7.131
101.25000 101-08 7.117 7.116 7.116 7.116 7.115
101.37500 101-12 7.102 7.101 7.101 7.101 7.100
101.50000 101-16 7.087 7.087 7.086 7.086 7.085
101.62500 101-20 7.072 7.072 7.071 7.071 7.070
101.75000 101-24 7.058 7.057 7.056 7.056 7.055
101.87500 101-28 7.043 7.042 7.041 7.041 7.040
102.00000 102-00 7.028 8.23 7.027 8.20 7.026 8.17 7.026 8.15 7.025 8.13
102.12500 102-04 7.013 7.012 7.011 7.011 7.010
102.25000 102-08 6.998 6.997 6.996 6.996 6.995
102.37500 102-12 6.984 6.982 6.982 6.981 6.980
102.50000 102-16 6.969 6.968 6.967 6.966 6.965
102.62500 102-20 6.954 6.953 6.952 6.951 6.950
102.75000 102-24 6.939 6.938 6.937 6.937 6.936
102.87500 102-28 6.925 6.923 6.922 6.922 6.921
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 13.05 12.95 12.88 12.84 12.78
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 5/10/10 5/10/10 5/10/10 5/10/10 3/10/10
Last Pay 9/10/12 7/10/12 6/10/12 6/10/12 5/10/12
Prin. Window 29 27 26 26 27
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
<TABLE>
<CAPTION>
DLJCMC-1998CG1V1 B3
Yield Table(Speeds Start after Par Call)
- - ------------------------------------------------------------------------------------------------------------------------------------
Current Balance : $15,643,000 Gross WAC : 7.2352
Pass-Thru Rate : 7.1503 Current WAM : 333
Accrued Days / Delay Days : 28 / 9 Settlement : 06/29/98
- - ------------------------------------------------------------------------------------------------------------------------------------
Prepayments
-----------------------------------------------------------------------------------------------------------------
Price 0.0% CPR 25.0% CPR 50.0% CPR 75.0% CPR 100.0% CPR
-----------------------------------------------------------------------------------------------------------------
Yield ModDur Yield ModDur Yield ModDur Yield ModDur Yield ModDur
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
98.00000 98-00 7.585 8.60 7.586 8.56 7.586 8.53 7.587 8.49 7.589 8.43
98.12500 98-04 7.570 7.571 7.572 7.572 7.574
98.25000 98-08 7.556 7.556 7.557 7.557 7.559
98.37500 98-12 7.541 7.541 7.542 7.543 7.544
98.50000 98-16 7.526 7.527 7.527 7.528 7.529
98.62500 98-20 7.512 7.512 7.512 7.513 7.514
98.75000 98-24 7.497 7.497 7.498 7.498 7.499
98.87500 98-28 7.483 7.483 7.483 7.483 7.484
99.00000 99-00 7.468 8.63 7.468 8.60 7.468 8.56 7.469 8.52 7.469 8.46
99.12500 99-04 7.454 7.454 7.454 7.454 7.454
99.25000 99-08 7.439 7.439 7.439 7.439 7.440
99.37500 99-12 7.425 7.424 7.424 7.424 7.425
99.50000 99-16 7.410 7.410 7.410 7.410 7.410
99.62500 99-20 7.396 7.395 7.395 7.395 7.395
99.75000 99-24 7.381 7.381 7.381 7.381 7.381
99.87500 99-28 7.367 7.366 7.366 7.366 7.366
99.90060 99-29 7.364 8.66 7.364 8.63 7.363 8.59 7.363 8.55 7.363 8.49
100.00000 100-00 7.353 7.352 7.352 7.351 7.351
100.12500 100-04 7.338 7.338 7.337 7.337 7.337
100.25000 100-08 7.324 7.323 7.323 7.322 7.322
100.37500 100-12 7.310 7.309 7.308 7.308 7.307
100.50000 100-16 7.295 7.295 7.294 7.294 7.293
100.62500 100-20 7.281 7.280 7.280 7.279 7.278
100.75000 100-24 7.267 7.266 7.265 7.265 7.264
100.87500 100-28 7.253 8.70 7.252 8.66 7.251 8.62 7.250 8.58 7.249 8.52
101.00000 101-00 7.239 7.238 7.237 7.236 7.235
101.12500 101-04 7.224 7.223 7.223 7.222 7.221
101.25000 101-08 7.210 7.209 7.208 7.207 7.206
101.37500 101-12 7.196 7.195 7.194 7.193 7.192
101.50000 101-16 7.182 7.181 7.180 7.179 7.177
101.62500 101-20 7.168 7.167 7.166 7.165 7.163
101.75000 101-24 7.154 7.153 7.152 7.151 7.149
- - ------------------------------------------------------------------------------------------------------------------------------------
Avg Life 14.50 14.39 14.28 14.17 13.99
- - ------------------------------------------------------------------------------------------------------------------------------------
First Pay 9/10/12 7/10/12 6/10/12 6/10/12 5/10/12
Last Pay 1/10/13 1/10/13 1/10/13 11/10/12 8/10/12
Prin. Window 5 7 8 6 4
- - ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The analyses, calculations, and valuations herein are based on certain
assumptions and data provided by third parties which may vary from the actual
characteristics of the pool. Donaldson, Lufkin and Jenrette Securities
Corporation makes no representation that such analyses or calculations are
accurate or that such valuations represent levels where actual trades may occur.
Investors should rely on the information contained in or filed in connection
with the prospectus / prospectus supplement.
Page 1
<PAGE>
Series 1998-CG1 Collateral Pool Summary
Mortgage Loan Characteristics
- - -----------------------------
Number of Loans: 301
Original Balance: $1,567,791,349
Cut-off Date Balance (1): $1,564,253,433
Average Cut-off Date Balance: $5,196,855
Wtd. Avg. Mortgage Rate: 7.210%
Wtd. Avg. Original Amort Term (Months): 337
Wtd. Avg. Original Balloon Term (Months): 135
Wtd. Avg. Seasoning (Months): 3
Mortgaged Properties Characteristics
- - ------------------------------------
Wtd. Avg. U/W DSCR: 1.44 x
Wtd. Avg. Cut-off Date LTV: 69.9%
Wtd. Avg. Maturity Date LTV: 55.2%
Wtd. Avg. Year Built/Renovated (3): 1988
Number of States (5): 34
Top 5 States/Property Types:
Percentage of
Number Cut-off Date Cut-off Date
# State of Loans Balance (1) Balance
- - -------------------------------------------------------------------------------
1. California 43 $ 231,175,652 14.8%
2. New York 16 186,659,066 11.9%
3. Florida 29 150,914,483 9.6%
4. Texas 36 121,185,759 7.7%
5. Georgia 16 95,976,258 6.1%
-----------------------------------------
Total/ Weighted Average: 140 $ 785,911,218 50.2%
=========================================
Percentage of
Number Cut-off Date Cut-off Date
# Property Type of Loans Balance (1) Balance
- - ---------------------------------------------------------------------------
1. Multifamily 104 $ 605,424,514 38.7%
2. Retail 94 407,146,225 26.0%
3. Hotel 32 183,582,241 11.7%
4. Office 25 181,447,416 11.6%
5. Industrial 9 77,885,522 5.0%
-------------------------------------------------
264 $ 1,455,485,919 93.0%
=================================================
<PAGE>
Top 5 Mortgage Loans:
<TABLE>
<CAPTION>
Percentage of
Property Cut-off Date Cut-off Date Appraised
# Property Name Type State Balance (1) Balance Value
- - ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1. The Rivergate Apartments Multifamily NY $ 94,602,208 6.0% $ 151,800,000
2. Raritan Plaza I (4) Office NJ 27,484,832 1.8% 37,000,000
3. Raritan Center
Industrial Portfolio (4) Industrial NJ 24,486,486 1.6% 34,120,000
4. Resurgens Plaza Office GA 32,859,589 2.1% 72,000,000
5. The Camargue Multifamily NY 29,900,164 1.9% 44,700,000
-------------------------------------------
Total/Weighted Average: $ 209,333,279 13.4% $ 339,620,000
===========================================
<CAPTION>
Top 5 Mortgage Loans:
Cut-off Date Year Built/
# Property Name LTV Ratio U/W NCF (2) U/W DSCR Renovated (3)
- - ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. The Rivergate Apartments 62.3% $ 13,177,773 1.75 x 1985
2. Raritan Plaza I (4) 74.3% 2,932,602 1.28 1985
3. Raritan Center Industrial Portfolio (4) 71.8% 2,490,405 1.22 1984
4. Resurgens Plaza 45.6% 5,342,566 2.10 1988
5. The Camargue 66.9% 3,508,202 1.38 1979
-------------------------------------------------------------
Total/Weighted Average: 63.0% $ 27,451,548 1.63 x 1984
=============================================================
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(3) Year Built/Renovated denotes the later of the Year Built or the Year
Renovated.
(4) The Mortgage Loans secured by Raritan Plaza I and Raritan Center
Industrial Portfolio, respectively, are cross-collateralized and
cross-defaulted.
(5) Includes the District of Columbia.
<PAGE>
Mortgage Loans by State
<TABLE>
<CAPTION>
Weighted Weighted
Aggregate Percentage of Aggregate Average Weighted Average
Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
State of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated(3)
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
California 43 $ 231,175,652 14.8% $ 339,792,000 68.9% $ 26,865,275 1.37 x 1984
New York 16 186,659,066 11.9% 283,315,000 66.4% 24,122,529 1.55 1987
Florida 29 150,914,483 9.6% 212,150,000 72.2% 18,844,710 1.50 1992
Texas 36 121,185,759 7.7% 170,372,000 72.6% 14,513,751 1.42 1990
Georgia 16 95,976,258 6.1% 155,840,000 65.4% 12,418,746 1.61 1988
Illinois 9 73,914,517 4.7% 98,200,000 75.4% 8,163,844 1.35 1989
Maryland 11 70,824,213 4.5% 111,800,000 66.1% 9,696,253 1.62 1985
New Jersey 5 69,116,116 4.4% 96,920,000 71.9% 7,546,654 1.30 1986
Pennsylvania 5 48,209,203 3.1% 67,100,000 72.3% 5,818,805 1.45 1994
Arizona 8 46,023,731 2.9% 65,505,000 70.7% 5,379,325 1.40 1992
Massachusetts 9 42,309,067 2.7% 65,050,000 67.1% 5,211,835 1.45 1973
Michigan 9 38,360,727 2.5% 50,950,000 75.6% 4,404,217 1.36 1985
Alabama 9 36,877,496 2.4% 52,210,000 72.4% 4,607,254 1.47 1993
Washington 14 35,455,306 2.3% 52,255,000 69.0% 4,089,683 1.38 1985
Minnesota 7 35,245,396 2.3% 50,615,000 70.0% 4,363,991 1.50 1985
North Carolina 10 34,056,355 2.2% 50,650,000 69.7% 4,196,934 1.44 1986
Arkansas 5 27,016,795 1.7% 39,950,000 68.1% 3,021,838 1.31 1993
Colorado 6 26,811,650 1.7% 37,275,000 72.5% 3,080,440 1.33 1992
Virginia 8 26,774,255 1.7% 35,610,000 75.5% 3,039,463 1.33 1990
Ohio 4 26,744,923 1.7% 39,155,000 70.0% 3,334,858 1.39 1973
Oregon 8 26,002,830 1.7% 39,205,000 66.9% 2,905,066 1.35 1990
Mississippi 6 23,418,740 1.5% 30,975,000 75.8% 2,641,706 1.32 1992
South Carolina 6 19,125,858 1.2% 24,445,000 78.3% 2,084,784 1.33 1992
District of Columbia 1 17,899,848 1.1% 39,500,000 45.3% 2,265,082 1.42 1995
Indiana 3 12,445,857 0.8% 16,130,000 77.2% 1,407,708 1.44 1995
Nevada 2 8,441,339 0.5% 12,550,000 68.2% 978,128 1.37 1988
New Mexico 3 8,085,813 0.5% 10,522,500 76.8% 932,539 1.37 1992
Tennessee 3 5,428,015 0.3% 7,360,000 74.1% 642,007 1.36 1993
Connecticut 3 5,195,467 0.3% 8,000,000 65.9% 638,449 1.39 1976
</TABLE>
<TABLE>
<CAPTION>
Weighted Weighted
Aggregate Percentage of Aggregate Average Weighted Average
Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
State of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated(3)
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Louisiana 1 4,792,990 0.3% 6,000,000 79.9% 532,345 1.39 1997
Missouri 2 3,547,044 0.2% 4,475,000 79.4% 414,210 1.46 1977
Idaho 2 3,270,138 0.2% 4,915,000 66.6% 398,926 1.41 1977
Utah 1 1,990,665 0.1% 3,800,000 52.4% 322,608 1.83 1989
Maine 1 957,861 0.1% 1,200,000 79.8% 109,569 1.33 1942
----------------------------------------------------------------------------------------------------
Total/Weighted Average: 28 301 $ 1,564,253,433 100.0% $2,283,791,500 69.9% $188,993,532 1.44 x 1988
====================================================================================================
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
<TABLE>
<CAPTION>
Mortgage Loans by Property Type
Weighted Weighted
Aggregate Percentage of Aggregate Average Weighted Average
Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
Property Type of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated(3)
- - ----------------------- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Multifamily 104 $ 605,424,514 38.7% $ 845,531,500 72.3% $ 69,123,251 1.41 x 1985
Retail 94 407,146,225 26.0% 566,465,000 72.8% 48,395,506 1.38 1991
Hotel 32 183,582,241 11.7% 311,650,000 60.6% 26,497,856 1.64 1993
Office 25 181,447,416 11.6% 284,135,000 65.9% 22,146,802 1.48 1988
Industrial 9 77,885,522 5.0% 112,495,000 69.8% 9,055,536 1.39 1987
Manufactured Housing 19 63,629,615 4.1% 91,880,000 71.0% 7,622,202 1.42 1977
Mixed Use / Other 8 24,854,004 1.6% 38,360,000 66.6% 3,221,510 1.46 1978
Self Storage 10 20,283,895 1.3% 33,275,000 64.3% 2,930,869 1.60 1990
--------------------------------------------------------------------------------------------------------
Total/Weighted Average: 301 $1,564,253,433 100.0% $2,283,791,500 69.9% $188,993,532 1.44 x 1988
========================================================================================================
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Mortgage Rates
<TABLE>
<CAPTION>
Weighted Weighted
Aggregate Percentage of Aggregate Average Weighted Average
Range of Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
Mortgage Rates of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated (3)
- - ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
6.650% - 6.999% 54 $ 413,759,922 26.5% $ 613,650,000 69.2% $ 49,699,475 1.51x 1987
7.000% - 7.249% 85 459,904,467 29.4% 660,699,500 70.9% 56,237,161 1.48 1987
7.250% - 7.499% 106 473,319,834 30.3% 673,077,000 71.3% 55,261,521 1.36 1988
7.500% - 7.749% 44 181,810,701 11.6% 287,620,000 65.0% 23,285,182 1.41 1989
7.750% - 7.999% 9 22,712,957 1.5% 30,890,000 73.7% 2,599,037 1.30 1991
8.000% - 8.499% 1 1,403,387 0.1% 2,730,000 51.4% 248,903 1.24 1965
8.500% - 8.860% 2 11,342,165 0.7% 15,125,000 75.1% 1,662,253 1.43 1973
------------------------------------------------------------------------------------------------------
Total/Weighted Average: 301 $1,564,253,433 100.0% $2,283,791,500 69.9% $ 188,993,532 1.44x 1988
======================================================================================================
</TABLE>
<TABLE>
<S> <C> <C>
Maximum Mortgage Rate: 8.860% per annum
Minimum Mortgage Rate: 6.650% per annum
Wtd. Avg. Mortgage Rate: 7.210% per annum
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(3) Year Built/Renovated reflects the later of the Year
Built or the Year Renovated.
<PAGE>
Cut-off Date Balances
<TABLE>
<CAPTION>
Percentage Weighted Weighted
Aggregate of Aggregate Average Weighted Average
Range of Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
Cut-off Date Balances of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF(2) U/W DSCR Renovated (3)
- - --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
$ 573,042 - 1,499,999 35 $ 41,885,450 2.7% $ 65,540,000 66.4% $ 5,504,845 1.49x 1983
1,500,000 - 2,499,999 71 141,121,351 9.0% 205,819,500 70.1% 17,314,027 1.41 1986
2,500,000 - 3,499,999 54 157,742,107 10.1% 227,995,000 70.5% 19,409,807 1.41 1989
3,500,000 - 4,499,999 40 159,771,106 10.2% 228,170,000 71.3% 19,165,337 1.43 1989
4,500,000 - 5,499,999 20 99,491,338 6.4% 142,470,000 70.6% 12,179,624 1.42 1994
5,500,000 - 6,499,999 14 84,317,556 5.4% 119,877,000 72.0% 9,851,770 1.42 1988
6,500,000 - 7,499,999 19 131,759,545 8.4% 181,965,000 72.9% 15,731,136 1.44 1987
7,500,000 - 9,999,999 16 141,460,303 9.0% 204,795,000 70.6% 17,974,225 1.49 1987
10,000,000 - 14,999,999 16 192,356,358 12.3% 263,840,000 73.8% 21,124,323 1.32 1985
15,000,000 - 24,999,999 12 229,501,527 14.7% 337,820,000 69.4% 25,777,295 1.38 1990
25,000,000 - 39,999,999 3 90,244,585 5.8% 153,700,000 61.4% 11,783,370 1.61 1984
40,000,000 - $94,602,208 1 94,602,208 6.0% 151,800,000 62.3% 13,177,773 1.75 1985
----------------------------------------------------------------------------------------------------
Total/Weighted Average: 301 $1,564,253,433 100.0% $2,283,791,500 69.9% $188,993,532 1.44x 1988
====================================================================================================
</TABLE>
<TABLE>
<S> <C>
Maximum Cut-off Date Balance: $ 94,602,208
Minimum Cut-off Date Balance: $ 573,042
Average Cut-off Date Balance: $ 5,196,855
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Original Amortization Terms
<TABLE>
<CAPTION>
Range of Weighted Weighted
Original Aggregate Percentage of Aggregate Average Weighted Average
Amortization Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
Terms (Months) of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated (3)
- - -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
144 - 216 14 $ 39,223,957 2.5% $ 66,830,000 61.4% $ 6,360,360 1.46x 1993
240 - 264 15 47,500,054 3.0% 75,120,000 65.2% 6,679,108 1.47 1986
300 - 311 93 381,258,301 24.4% 598,089,500 65.4% 50,447,106 1.51 1988
312 - 360 179 1,096,271,119 70.1% 1,543,752,000 72.1% 125,506,958 1.42 1987
---------------------------------------------------------------------------------------------------------------
Total/Weighted
Averag 301 $1,564,253,433 100.0% $2,283,791,500 69.9% $188,993,532 11.44x 1988
===============================================================================================================
</TABLE>
<TABLE>
<S> <C>
Maximum Original Amortization Term (Months): 360
Minimum Original Amortization Term (Months): 144
Wtd. Avg. Original Amortization Term (Months): 337
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Original Terms to Stated Maturity (1)
<TABLE>
<CAPTION>
Weighted Weighted
Range of Aggregate Percentage of Aggregate Average Weighted Average
Original Terms Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
to Maturity (Months) of Loans Balance (2) Pool Balance Value LTV Ratio U/W NCF (3) U/W DSCR Renovated (4)
- - -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 - 84 9 $ 36,023,321 2.3% $ 50,480,000 72.8% $ 4,385,828 1.45x 1982
96 - 120 242 1,260,766,714 80.6% 1,841,839,000 70.0% 151,737,725 1.45 1988
132 - 179 3 9,443,796 0.6% 13,480,000 71.3% 1,139,103 1.34 1985
180 - 300 47 258,019,602 16.5% 377,992,500 69.2% 31,730,876 1.38 1989
--------------------------------------------------------------------------------------------------------------
Total/Weighted
Averag 301 $1,564,253,433 100.0% $2,283,791,500 69.9% $188,993,532 1.44x 1988
==============================================================================================================
</TABLE>
Maximum Original Term to Maturity (Months): 300
Minimum Original Term to Maturity (Months): 60
Wtd. Avg. Original Term to Maturity (Months): 135
(1) In the case of the Anticipated Repayment Date loans, the Anticipated
Repayment Date is assumed to be the maturity date for the purposes of the
table.
(2) Assumes a Cut-off Date of June 1, 1998.
(3) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(4) Year Built/Renovated reflects the later of the Year Built or the
Year Renovated.
<PAGE>
Remaining Amortization Terms
<TABLE>
<CAPTION>
Weighted Weighted
Aggregate Percentage of Aggregate Average Weighted Average
Range of Remaining Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
Amort. Terms (Months) of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated (3)
- - -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
120 - 179 11 $ 29,964,091 1.9% $ 51,935,000 60.0% $4,955,136 1.46x 1992
180 - 239 14 47,625,503 3.0% 76,865,000 64.4% 6,800,306 1.47 1987
240 - 275 4 9,134,417 0.6% 13,150,000 69.8% 1,284,026 1.46 1989
276 - 299 79 338,233,301 21.6% 534,065,000 64.9% 45,129,659 1.52 1987
300 - 335 18 59,530,728 3.8% 86,624,500 70.0% 7,087,513 1.37 1990
336 - 347 3 30,277,127 1.9% 38,400,000 79.0% 3,309,336 1.39 1987
348 - 360 172 1,049,488,264 67.1% 1,482,752,000 71.8% 120,427,556 1.42 1987
------------------------------------------------------------------------------------------------------------
Total/Weighted Average: 301 $1,564,253,433 100.0% $2,283,791,500 69.9% $188,993,532 1.44x 1988
============================================================================================================
</TABLE>
Maximum Remaining Amortization Term (Months): 360
Minimum Remaining Amortization Term (Months): 128
Wtd. Avg. Remaining Amortization Term (Months): 334
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Remaining Terms to Stated Maturity (1)
<TABLE>
<CAPTION>
Percentage
of Weighted Weighted
Aggregate Initial Aggregate Average Weighted Average
Range of Remaining Terms Number Cut-off Date Pool Appraised Cut-off Date Aggregate Average Year Built/
to Stated Maturity (Months) of Loans Balance (2) Balance Value LTV Ratio U/W NCF (3) U/W DSCR Renovated(4)
- - -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
48 - 83 9 $ 36,023,321 2.3% $ 50,480,000 72.8% $ 4,385,828 1.45x 1982
84 - 119 209 1,121,416,714 71.7% 1,653,759,000 69.4% 136,199,865 1.46 1987
120 - 155 36 148,793,796 9.5% 201,560,000 74.6% 16,676,963 1.36 1989
156 - 179 24 135,637,080 8.7% 199,425,000 69.0% 16,803,070 1.40 1993
180 - 300 23 122,382,522 7.8% 178,567,500 69.4% 14,927,806 1.37 1984
----------------------------------------------------------------------------------------------------------
Total/Weighted Average: 301 $1,564,253,433 100.0% $2,283,791,500 69.9% $188,993,532 1.44x 1988
==========================================================================================================
</TABLE>
<TABLE>
<S> <C>
Maximum Remaining Term to Maturity (Months): 299
Minimum Remaining Term to Maturity (Months): 55
Wtd. Avg. Remaining Term to Maturity (Months): 133
</TABLE>
(1) In the case of the Anticipated Repayment Date loans, the Anticipated
Repayment Date is assumed to be the maturity date for the purposes of the
table.
(2) Assumes a Cut-off Date of June 1, 1998.
(3) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
(4) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Years Built/Years Renovated (1)
<TABLE>
<CAPTION>
Weighted Weighted
Range of Aggregate Percentage of Aggregate Average Weighted Average
Years Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
Built/Renovated of Loans Balance (2) Pool Balance Value LTV Ratio U/W NCF (3) U/W DSCR Renovated (1)
- - ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1899 - 1950 3 $ 6,934,262 0.4% $ 10,600,000 65.8% $ 859,393 1.47 x 1910
1951 - 1960 1 1,100,000 0.1% 1,475,000 74.6% 124,548 1.28 1960
1961 - 1970 19 84,670,164 5.4% 113,960,000 75.1% 9,703,290 1.34 1968
1971 - 1980 33 176,400,691 11.3% 258,000,000 69.3% 20,890,336 1.42 1976
1981 - 1990 104 626,094,254 40.0% 946,663,500 67.9% 77,727,557 1.50 1986
1991 - 1998 141 669,054,062 42.8% 953,093,000 71.4% 79,688,408 1.41 1995
-------------------------------------------------------------------------------------------------------------------
Total/Weighted 301 $ 1,564,253,433 100.0% $ 2,283,791,500 69.9% $ 188,993,532 1.44 x 1988
Average: ===================================================================================================================
</TABLE>
Most Recent Year Built/Renovated: 1998
Oldest Year Built/Renovated: 1899
Wtd. Avg. Year Built/Renovated: 1988
(1) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
(2) Assumes a Cut-off Date of June 1, 1998.
(3) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
<PAGE>
Occupancy Rates at Underwriting (1)
<TABLE>
<CAPTION>
Weighted Weighted
Range of Aggregate Percentage of Aggregate Average Weighted Average
Occupancy Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
Rates at U/W of Loans Balance (2) Pool Balance Value LTV Ratio U/W NCF (3) U/W DSCR Renovated (4)
- - -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60.0% - 69.9% 1 $ 1,743,781 0.1% $ 3,850,000 45.3% $ 295,754 1.79 x 1992
70.0% - 79.9% 5 9,252,823 0.6% 13,830,000 67.4% 1,121,448 1.38 1983
80.0% - 89.9% 21 60,610,916 3.9% 86,700,000 71.3% 6,831,074 1.34 1988
90.0% - 100.0% 242 1,309,063,672 83.7% 1,867,761,500 71.3% 154,247,400 1.42 1987
------------------------------------------------------------------------------------------------------------
Total/Weighted 269 $ 1,380,671,192 88.3% $ 1,972,141,500 71.2% $ 162,495,676 1.41 x 1987
Average: ============================================================================================================
</TABLE>
Maximum Occupancy Rate at Underwriting: 100.0%
Minimum Occupancy Rate at Underwriting: 64.0%
Wtd. Avg. Occupancy Rate at Underwriting: 96.5%
(1) Does not include any Mortgage Loans secured by hotel properties.
(2) Assumes a Cut-off Date of June 1, 1998.
(3) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E.
<PAGE>
<TABLE>
<CAPTION>
Underwriting Debt Service Coverage Ratios
Weighted Weighted
Aggregate Percentage of Aggregate Average Weighted Average
Range of Number Cutoff Date Initial Appraised Cutoff Date Aggregate Average Year Built/
U/W DSCRs of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated (3)
--------- -------- ----------- ------------ ----- --------- ----------- -------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1.200 x - 1.290 66 $ 379,466,509 24.3% $ 514,572,000 74.1% $ 40,677,594 1.26 x 1986
1.300 - 1.390 109 556,409,089 35.6% 757,659,500 73.9% 61,806,499 1.34 1989
1.400 - 1.490 60 228,770,701 14.6% 343,135,000 68.2% 27,819,411 1.43 1987
1.500 - 1.590 31 119,940,796 7.7% 180,030,000 67.5% 15,695,950 1.54 1988
1.600 - 1.690 8 40,637,969 2.6% 61,150,000 67.6% 5,516,345 1.63 1988
1.700 - 1.790 9 131,883,778 8.4% 215,950,000 61.4% 18,617,211 1.75 1986
1.800 - 1.890 6 36,581,771 2.3% 60,850,000 60.9% 5,835,343 1.83 1990
1.900 - 1.990 1 1,987,627 0.1% 5,000,000 39.8% 413,919 1.93 1986
2.000 - 2.690 x 11 68,575,193 4.4% 145,445,000 47.9% 12,611,260 2.19 1989
--------------------------------------------------------------------------------------------------------------
Total/Weighed 301 $ 1,564,253,433 100.0% $ 2,283,791,500 69.9% $ 188,993,532 1.44 x 1988
Average: ==============================================================================================================
</TABLE>
Maximum Underwriting DSCR: 2.69 x
Minimum Underwriting DSCR: 1.20 x
Wtd. Avg. Underwriting DSCR: 1.44 x
(1) Assumes a Cutoff Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves,
U/W LC's and TI's and FF&E. `
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
<TABLE>
<CAPTION>
Cut-off Date Loan-to-Value Ratios
Weighted Weighted
Range of Aggregate Percentage of Aggregate Aggregate Weighted Average
Cut-off Date Number Cut-off Date Initial Appraised Cut-off Date Aggregate Average Year Built/
LTV Ratios of Loans Balance (1) Pool Balance Value LTV Ratio U/W NCF (2) U/W DSCR Renovated (3)
---------- -------- ----------- ------------ ----- --------- ----------- -------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
32.60% - 49.99% 15 $ 87,737,850 5.6% $ 193,330,000 45.5% $ 14,504,860 1.94 x 1989
50.00% - 59.99% 26 87,939,875 5.6% 159,640,000 55.3% 12,739,932 1.62 1990
60.00% - 69.99% 79 492,004,434 31.5% 752,115,000 65.5% 62,365,055 1.50 1986
70.00% - 74.99% 79 388,688,996 24.8% 531,800,000 73.1% 44,114,276 1.35 1987
75.00% - 79.99% 81 416,883,958 26.7% 533,981,500 78.1% 45,188,521 1.33 1988
80.00% - 82.75% 21 90,998,319 5.8% 112,925,000 80.6% 10,080,888 1.37 1990
----------------------------------------------------------------------------------------------------------------
Total/Weighted 301 $ 1,564,253,433 100.0% $ 2,283,791,500 69.9% $ 188,993,532 1.44 x 1988
Average:
================================================================================================================
</TABLE>
Maximum Cut-off Date LTV Ratio: 82.7%
Minimum Cut-off Date LTV Ratio: 32.6%
Wtd. Avg. Cut-off Date LTV Ratio: 69.9%
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves, U/W
LC's and TI's and FF&E.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Prepayment Provision as of the Cut-off Date
<TABLE>
<CAPTION>
Weighted Weighted Weighted
Average Average Average
Remaining Remaining Remaining Weighted
Range of Aggregate Percentage Lockout Lockout Lockout Plus Average
Remaining Terms to Number of Cut-off Date of Initial Period Plus YM Premium Period Maturity
Stated Maturity(years)(1) Loans Balance(2) Pool Balance (years) Period(years) (years) (years)
- - ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
4.0 - 4.9 3 $ 9,403,984 0.6% 2.7 3.3 4.5 4.8
6.0 - 6.9 6 26,619,337 1.7% 3.5 5.8 5.8 6.6
8.0 - 8.9 1 9,347,127 0.6% 3.8 8.3 8.3 8.8
9.0 - 9.9 208 1,112,069,587 71.1% 7.7 8.9 9.3 9.8
10.0 - 10.9 34 140,753,387 9.0% 8.2 9.6 9.6 10.0
11.0 - 11.9 2 8,040,409 0.5% 3.0 11.6 11.6 11.9
14.0 - 14.9 24 135,637,080 8.7% 12.0 14.2 14.2 14.8
15.0 - 15.9 5 20,282,000 1.3% 10.4 14.7 14.7 15.0
17.0 - 17.9 2 6,459,866 0.4% 17.3 17.3 17.3 17.8
19.0 - 19.9 5 24,735,227 1.6% 15.2 19.2 19.2 19.9
20.0 - 20.9 4 13,725,000 0.9% 14.8 19.7 19.7 20.0
24.0 - 24.9 7 57,180,429 3.7% 20.7 24.5 24.5 24.8
-------------------------------------------------------------------------------------------------------
Total/Weighted Average: 301 $1,564,253,433 100.0% 8.7 10.3 10.6 11.0
=======================================================================================================
</TABLE>
(1) In the case of the Anticipated Repayment Date loans, the Anticipated
Repayment Date is assumed to be the maturity date for the purposes of
the table.
(2) Assumes a Cut-off Date of June 1, 1998.
<PAGE>
Mortgage Loan Seller
<TABLE>
<CAPTION>
Aggregate Percentage Aggregate
Number Cut-off Date of Initial Appraised
Mortgage Loan Seller of Loans Balance (1) Pool Balance Value
- - -------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
GE Capital Access 117 $ 818,436,244 52.3% $ 1,202,602,000
Column 184 745,817,189 47.7% 1,081,189,500
---------------------------------------------------------
Total or Weighted Average: 301 $1,564,253,433 100.0% $ 2,283,791,500
=========================================================
<CAPTION>
Weighted Weighted
Average Weighted Average
Cut-off Date Aggregate Average Year Built/
Mortgage Loan Seller LTV Ratio U/W NCF (2) U/W DSCR Renovated(3)
- - --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
GE Capital Access 69.6% $ 98,257,669 1.46 1986
Column 70.3% 90,735,863 1.42 1989
----------------------------------------------------------
Total or Weighted Average: 69.9% $188,993,532 1.44 x 1988
==========================================================
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves
and U/W LC's and TI's.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Prepayment Option
<TABLE>
<CAPTION>
Aggregate Percentage of Aggregate
Number Cut-off Date Initial Appraised
Prepayment Option of Loans Balance (1) Pool Balance Value
- - --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Defeasance 199 $ 1,117,533,641 71.4% $ 1,658,814,500
Yield Maintenance 85 354,840,653 22.7% 500,425,000
Prepayment Penalty 7 65,213,372 4.2% 90,727,000
Defeasance / Yield Maintenance 10 26,665,766 1.7% 33,825,000
------------------------------------------------------------
Total/Weighted Average: 301 $ 1,564,253,433 100.0% $ 2,283,791,500
============================================================
<CAPTION>
Weighted Weighted
Average Weighted Average
Cut-off Date Aggregate Average Year Built/
Prepayment Option LTV Ratio U/W NCF (2) U/W DSCR Renovated (3)
- - -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Defeasance 68.9% $ 137,710,584 1.47 x 1988
Yield Maintenance 72.1% 41,505,431 1.38 1988
Prepayment Penalty 72.3% 6,960,887 1.35 1983
Defeasance / Yield Maintenance 78.9% 2,816,630 1.32 1992
-----------------------------------------------------------
Total/Weighted Average: 69.9% $ 188,993,532 1.44 x 1988
===========================================================
</TABLE>
(1) Assumes a Cut-off Date of June 1, 1998.
(2) Underwriting NCF reflects Net Cash Flow after U/W Replacement Reserves
and U/W LC's and TI's.
(3) Year Built/Renovated reflects the later of the Year Built or the Year
Renovated.
<PAGE>
Mortgage Pool Prepayment Profile
<TABLE>
<CAPTION>
Prepayment Provision % of Pool % of Pool % of Pool % of Pool % of Pool
As of Cut-off Date Jun-98 Jun-99 Jun-00 Jun-01 Jun-02
- - --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Lock out 96.2% 96.2% 95.5% 85.8% 80.8%
Yield Maint.Premium 0.0% 0.0% 0.7% 10.0% 15.0%
1% to 5% Prepayment Premium 3.8% 3.8% 3.8% 4.2% 4.2%
Other 0.0% 0.0% 0.0% 0.0% 0.0%
Open Period 0.0% 0.0% 0.0% 0.0% 0.0%
--------------------------------------------------------------
Total: 100.0% 100.0% 100.0% 100.0% 100.0%
==============================================================
Outstanding
Balance (mm): $1,564.3 $1,546.6 $1,527.8 $1,507.1 $1,484.9
Number of Loans: 301 301 301 301 301
<CAPTION>
Mortgage Pool Prepayment Profile
Prepayment Provision % of Pool % of Pool % of Pool % of Pool % of Pool
As of Cut-off Date Jun-03 Jun-04 Jun-05 Jun-06 Jun-07
- - --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Lock out 77.2% 75.5% 75.6% 74.5% 74.3%
Yield Maint.Premium 18.6% 20.3% 20.5% 21.6% 20.7%
1% to 5% Prepayment Premium 3.8% 3.8% 3.9% 0.0% 0.0%
Other 0.0% 0.0% 0.0% 0.0% 0.0%
Open Period 0.4% 0.4% 0.0% 3.9% 5.1%
--------------------------------------------------------------
Total: 100.0% 100.0% 100.0% 100.0% 100.0%
==============================================================
Outstanding
Balance (mm): $1,452.2 $1,426.9 $1,375.4 $1,346.3 $1,306.7
Number of Loans: 298 298 292 292 291
<CAPTION>
Mortgage Pool Prepayment Profile
Prepayment Provision % of Pool % of Pool % of Pool % of Pool % of Pool
As of Cut-off Date Jun-08 Jun-09 Jun-10 Jun-11 Jun-12
- - --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Lock out 67.6% 67.5% 67.1% 67.0% 62.1%
Yield Maint.Premium 32.0% 32.1% 31.4% 31.6% 31.8%
1% to 5% Prepayment Premium 0.0% 0.0% 0.0% 0.0% 0.0%
Other 0.0% 0.0% 0.0% 0.0% 0.0%
Open Period 0.5% 0.4% 1.5% 1.5% 6.1%
--------------------------------------------------------------
Total: 100.0% 100.0% 100.0% 100.0% 100.0%
==============================================================
Outstanding
Balance (mm): $210.1 $201.7 $186.1 $176.7 $166.6
Number of Loans: 50 49 47 47 47
<CAPTION>
Mortgage Pool Prepayment Profile
Prepayment Provision % of Pool % of Pool % of Pool % of Pool % of Pool
As of Cut-off Date Jun-13 Jun-14 Jun-15 Jun-16 Jun-17
- - ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Lock out 72.8% 72.6% 72.3% 72.0% 67.9%
Yield Maint.Premium 27.2% 27.4% 27.7% 28.0% 28.0%
1% to 5% Prepayment Premium 0.0% 0.0% 0.0% 0.0% 0.0%
Other 0.0% 0.0% 0.0% 0.0% 0.0%
Open Period 0.0% 0.0% 0.0% 0.0% 4.1%
------------------------------------------------------------
Total: 100.0% 100.0% 100.0% 100.0% 100.0%
============================================================
Outstanding
Balance (mm): $58.1 $53.0 $47.6 $41.7 $36.1
Number of Loans: 18 18 18 16 16
</TABLE>
