<PAGE> 1
EXHIBIT 99.1
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
MBS NEW TRANSACTION
TERM SHEET
-------------------------------------------
PRE-MARKETING TODAY
MONDAY, JULY 17, 2000
-------------------------------------------
$122,240,000 (APPROXIMATELY)
UNION PLANTERS MORTGAGE FINANCE CORP. 2000-1
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 2
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
$122,240,000 (APPROXIMATELY)
UNION PLANTERS MORTGAGE FINANCE CORP.
Depositor
UNION PLANTERS BANK, NATIONAL ASSOCIATION
Seller and Master Servicer
UNION PLANTERS MORTGAGE FINANCE CORP., SERIES 2000-1
MORTGAGE PASS-THROUGH CERTIFICATES
TRANSACTION HIGHLIGHTS
<TABLE>
<CAPTION>
PAYMENT PRICE
EXPECTED RATINGS AVERAGE LIFE WINDOW TALK
CLASS CLASS SIZE COUPON (MOODY'S/FITCH) TO MATURITY TO MATURITY (BPS)
----- ---------- ------ ---------------- ------------ ----------- -----
<S> <C> <C> <C> <C> <C> <C>
A-1 $97,879,000 7.60 Aaa/AAA 3.50 8/25/00-4/25/09
A-2 24,361,000 7.60 Aaa/AAA 12.56 4/25/09-9/25/25
</TABLE>
<TABLE>
<S> <C>
DEPOSITOR: Union Planters Mortgage Finance Corp.
MASTER SERVICER: Union Planters Bank, National Association
TRUSTEE: The Bank of New York
MANAGERS: MORGAN STANLEY DEAN WITTER (SOLE MANAGER)
DAY COUNT BASIS: 30/360
EXPECTED PRICING DATE: July 19, 2000
EXPECTED SETTLEMENT: July 27, 2000
FORMS OF CERTIFICATES: Classes A-1 and A-2 will settle DTC
DISTRIBUTION DATES: The 25th of each month, beginning August 25, 2000
PRICING SPEED: 12% CPR
OPTIONAL CALL: 5% clean-up call (5% of pool balance)
TAX STATUS: REMIC
ERISA ELIGIBILITY: Class A-1 and A-2 are ERISA eligible
SMMEA ELIGIBILITY: Class A-1 and A-2 are SMMEA eligible
FHA INSURANCE: FHA loans are insured by HUD for 100% of the
principal balance and interest at the applicable
debenture rate less the first 60 days of interest.
Additionally, the FHA will cover 2/3 of all
foreclosure costs relating to the acquisition of the
property
VA GUARANTEE: VA loans are guaranteed for 100% of interest and 25%
to 50% of the principal (determined at the time of
loan origination based on the lesser of a percentage
of original loan amount or the eligible
indebtedness). Generally the VA will cover some
liquidation expenses.
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 3
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 4
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
CREDIT ENHANCEMENT
- Class A-1 and A-2 Credit Enhancement:
1. Subordination totaling 2.65% of the original pool balance.
CREDIT STRUCTURE
- Cashflow priority for Union Planters Mortgage Finance Corp., Series
2000-1
Distributions will be made on each distribution date from available
funds in the following order of priority:
1. To pay a servicing fee,
2. To pay a trustee fee,
3. To interest pro rata on each class of offered
certificates,
4. To principal of the classes of offered certificates
then entitled to receive distributions of principal,
5. To interest on each class of non-offered
certificates,
6. To principal of the classes of non-offered
certificates then entitled to receive distributions
of principal.
- Distribution of Principal:
Principal will be allocated among the classes as follows:
1. During the first 60 months, scheduled and unscheduled
principal allocable to classes A-1 and A-2 will be
paid sequentially starting with A1 until it is fully
paid down and then to A-2 until it is fully paid
down.
2. During the first 60 months, all non-offered classes
will receive their pro-rata share of scheduled
principal payments based on their allocable
percentages, and beginning in month 61, based on a
standard shifting interest schedule, an amount of
unscheduled principal.
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 5
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
UPMFC 2000-1 COLLATERAL DESCRIPTION
COLLATERAL: The Trust Fund will consist of fixed rate FHA insured and VA
guaranteed Mortgage Loans secured by first liens on one- to
four-family residential properties. As of July 1, 2000 (the
"Cut-off Date"), the pool totaled approximately $127,282,880
<TABLE>
<CAPTION>
TOTAL COLLATERAL POOL*
----------------------
<S> <C>
AGGREGATE BALANCE: $127,282,880
NUMBER OF LOANS: 3,060
AVERAGE OUTSTANDING BALANCE: $41,596
AVERAGE ORIGINAL BALANCE: $52,289
WEIGHTED AVERAGE GROSS COUPON: 9.2829%
LOAN TYPE: 75.92% FHA Insured, 24.08% VA Guaranteed
PRODUCT TYPE: 100% Fixed Rate
WEIGHTED AVERAGE ORIGINAL TERM: 351 Months
WEIGHTED AVERAGE REMAINING TERM: 214 Months
WEIGHTED AVERAGE SEASONING: 137 Months
LIEN POSITION: 100% 1st Lien
ORIGINAL LOAN TO VALUE RATIO**: 96.66%
CURRENT LOAN TO VALUE RATIO***: 82.47%
DELINQUENCY STATUS: 80.19% current / 19.81% 30-59 days delinquent
MORTGAGORS IN BANKRUPTCY****: 1.63%
PROPERTY TYPE*****: 64.60% Single Family, 1.39% Condo, 0.80% Other
OWNER OCCUPANCY******: 80.86% Owner Occupied, 11.92% Not Available, 5.87% Non-Owner Occupied,
1.35% Other
GEOGRAPHIC DISTRIBUTION (> 5%): TX 15.33%, CA 13.31%, FL 10.08%, MS 7.00%, TN 7.83%, GA 5.47%
</TABLE>
* The description of the Collateral herein will be superceded by the
description of the collateral in the Prospectus Supplement.
** 29.70% not available, percentages are based on known population.
*** 29.69% not available, percentages are based on known population.
**** All mortgagors in bankruptcy are current in payment under a bankruptcy
plan. All mortgagors in bankruptcy have not been delinquent more than
twice in the last 12 months.
***** 33.22% not available, percentages are based on known population.
****** 11.92% not available, percentages are based on known population.
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 6
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
FHA INSURANCE AND VA GUARANTEES
FHA INSURANCE
Purpose - To provide mortgage insurance for a person to purchase or refinance a
principal residence. The mortgage loan is funded by a lending institution, such
as a mortgage company, bank, savings and loan association and the mortgage is
insured by HUD.
Loan Balance Limits - Generally, unless the property is located in a high cost
area, the current maximum mortgage limit for single family FHA insured loans is
$115,200. High cost area limits are equal to 95% of the area median house price.
The high cost limits are subject to a ceiling based on 75% of the Freddie Mac
Loan limits. The current FHA single family ceiling is $208,800. Section 214 of
the National Housing Act provides that the mortgage limit for Alaska, Guam,
Hawaii, and the Virgin Islands may be adjusted up to 150% of the aforementioned
ceiling.
Loans guaranteed under the FHA program are insured by the Department of Housing
and Urban Development (HUD). HUD will guarantee 100% of the principal value of
the insured loan in addition to a debenture rate of interest on the outstanding
principal balance. All forgone interest beyond the last payment date will be
reimbursed through the date of liquidation less a period of 60 days.
FHA will pay 2/3 of all foreclosure costs (attorney, foreclosure, etc.) in
connection with acquiring title, bankruptcy proceedings, and title transfers.
All costs relating to eviction, assignments and other possessory costs are
covered by FHA.
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 7
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
FHA INSURANCE AND VA GUARANTEES
(continuation)
VA LOAN PROGRAM GUARANTY
Purpose - The purpose of the Veterans Loan Guaranty Program is to allow veterans
to obtain home loans with favorable loan terms, usually without a downpayment.
The VA will cover 100% of the interest up to the cutoff date and principal as
follows:
<TABLE>
<CAPTION>
LOAN AMOUNT GUARANTY PERCENT MAXIMUM AMOUNT
----------- ---------------- --------------
<S> <C> <C>
Up to $45,000 50% $22,500
$45,001 - $56,250 40 - 50% $22,500
$56,251 - 144,000 40% $36,000
$144,001 or more 25% $50,750
</TABLE>
When the net value of the property is less than the unguaranteed portion of the
loan, VA will not specify an amount for the holder to credit to the indebtedness
on account of the sale and will not accept conveyance of the property (called a
VA no-bid). In these cases the Master Servicer may suffer a loss on the portion
that is not guaranteed, and will retain title to the property. However, the
servicer may elect to consider a debt reduction in cases where the VA does not
specify a foreclosure bid. The servicer must agree to forgive the portion of the
indebtedness that exceeds the maximum guarantee liability plus the net value of
the subject property. The VA will then issue or specify foreclosure bidding
instructions and agree to accept conveyance upon completion of the foreclosure
sale.
Generally, the VA will cover some liquidation expenses.
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 8
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
CONTACTS
<TABLE>
<CAPTION>
SPG FINANCE GROUP SPG CAPITAL MARKETS
----------------- -------------------
Phone Phone
----- -----
<S> <C> <C> <C>
NY: Steven Shapiro 761-2146 NY: Dennis Scurletis 761-2248
Leigh Lucas 761-2152 Michael Edman 761-1984
Kris Gillys 761-0873 Ken Lee 761-1783
</TABLE>
<TABLE>
<CAPTION>
SPG BACKED TRADING
Phone
-----
<S> <C>
NY: Larry Rosati 761-2122
Brian Barry 761-2281
</TABLE>
PLEASE DIRECT
ALL QUESTIONS AND ORDERS
TO SPG CAPITAL MARKETS
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 9
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] JULY 17, 2000
Securitized Products Group
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters with respect to the expected characteristics of the
pool of Mortgage Loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the Mortgage
Loans will differ from the assumptions used in preparing these materials, which
are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE> 10
EXHIBIT 99.1
MORGAN STANLEY DEAN WITTER
<TABLE>
<CAPTION>
UNION PLANTERS UNION PLANTERS REMIC SERIES 2000-TBD (FHA/VA, 7.60% COUPON) CLASS AAA
<S> <C> <C> <C> <C> <C> <C> <C>
Class AAA Cusip N/A Dated Date 07/01/2000 Original Balance 122,240,000.00
Delay 24 First Payment Date 08/25/2000 Factor 1.00000000 Lead Manager MSDW
Payment Freq Monthly Next Payment Date 08/25/2000 Current Balance 122,240,000.00 Orig Deal Size 127,282,880.33
Yield Day Count 30/360 Settlement Date 07/27/2000 Coupon 7.60000 Num of Tranches 18
Yield Freq SemiAnnual Interest Freq Monthly Market Desc SEQ Deal Age 0
Yield Table Date 07/14/2000
</TABLE>
<TABLE>
<CAPTION>
TRIGGER _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO
_HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO
_LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO
PREPAY CPR 6 CPR 8 CPR 10 CPR 12 CPR 15 CPR 20
PRICE/YIELD
<S> <C> <C> <C> <C> <C> <C>
98/25+ 7.863 7.877 7.891 7.907 7.931 7.974
98/26 7.860 7.873 7.887 7.902 7.926 7.968
98/26+ 7.857 7.870 7.884 7.898 7.921 7.962
98/27 7.853 7.866 7.880 7.894 7.916 7.957
98/27+ 7.850 7.863 7.876 7.890 7.912 7.951
98/28 7.847 7.859 7.872 7.886 7.907 7.945
98/28+ 7.844 7.856 7.868 7.881 7.902 7.940
98/29 7.841 7.852 7.864 7.877 7.897 7.934
98/29+ 7.837 7.849 7.861 7.873 7.893 7.928
98/30 7.834 7.845 7.857 7.869 7.888 7.922
98/30+ 7.831 7.842 7.853 7.865 7.883 7.917
98/31 7.828 7.838 7.849 7.861 7.879 7.911
98/31+ 7.825 7.835 7.845 7.856 7.874 7.905
99/00 7.821 7.831 7.842 7.852 7.869 7.900
99/00+ 7.818 7.828 7.838 7.848 7.864 7.894
99/01 7.815 7.824 7.834 7.844 7.860 7.888
99/01+ 7.812 7.821 7.830 7.840 7.855 7.883
99/02 7.809 7.817 7.826 7.836 7.850 7.877
99/02+ 7.806 7.814 7.822 7.831 7.846 7.871
99/03 7.802 7.810 7.819 7.827 7.841 7.866
99/03+ 7.799 7.807 7.815 7.823 7.836 7.860
99/04 7.796 7.803 7.811 7.819 7.832 7.854
99/04+ 7.793 7.800 7.807 7.815 7.827 7.849
99/05 7.790 7.796 7.803 7.811 7.822 7.843
99/05+ 7.786 7.793 7.800 7.806 7.818 7.837
99/06 7.783 7.789 7.796 7.802 7.813 7.832
99/06+ 7.780 7.786 7.792 7.798 7.808 7.826
99/07 7.777 7.782 7.788 7.794 7.803 7.820
99/07+ 7.774 7.779 7.784 7.790 7.799 7.815
99/08 7.771 7.775 7.780 7.786 7.794 7.809
99/08+ 7.767 7.772 7.777 7.782 7.789 7.803
99/09 7.764 7.768 7.773 7.777 7.785 7.798
99/09+ 7.761 7.765 7.769 7.773 7.780 7.792
AVERAGE LIFE 7.47 6.63 5.91 5.30 4.55 3.61
FIRST PRIN 08/25/2000 08/25/2000 08/25/2000 08/25/2000 08/25/2000 08/25/2000
LAST PRIN 09/25/2025 09/25/2025 09/25/2025 09/25/2025 09/25/2025 09/25/2025
PAYMENT WINDOW 302 302 302 302 302 302
MOD DURATION @ 99/01+ 4.93 4.49 4.11 3.77 3.34 2.76
<CAPTION>
TRIGGER _OPTIONALCALL NO
_HISTLOOKUP NO
_LOSSTRIGGER NO
PREPAY CPR 25
PRICE/YIELD
<S> <C>
98/25+ 8.021
98/26 8.014
98/26+ 8.008
98/27 8.001
98/27+ 7.994
98/28 7.987
98/28+ 7.981
98/29 7.974
98/29+ 7.967
98/30 7.960
98/30+ 7.953
98/31 7.947
98/31+ 7.940
99/00 7.933
99/00+ 7.926
99/01 7.920
99/01+ 7.913
99/02 7.906
99/02+ 7.900
99/03 7.893
99/03+ 7.886
99/04 7.879
99/04+ 7.873
99/05 7.866
99/05+ 7.859
99/06 7.852
99/06+ 7.846
99/07 7.839
99/07+ 7.832
99/08 7.826
99/08+ 7.819
99/09 7.812
99/09+ 7.805
AVERAGE LIFE 2.93
FIRST PRIN 08/25/2000
LAST PRIN 09/25/2025
PAYMENT WINDOW 302
MOD DURATION @ 99/01+ 2.33
</TABLE>
Page 1 of 1
This memorandum is based on information generally available to the public from
sources believed to be reliable. No representation is made that it is accurate
or complete. Certain assumptions may have been made in this analysis which have
resulted in any returns detailed herein. No representation is made that any
returns indicated will be achieved. Changes to the assumptions may have a
material impact on any returns detailed. Past performance is not necessarily
indicative of future returns. Price and availability are subject to change
without notice. The foregoing has been prepared solely for informational
purposes, and is not an offer to buy or sell or a solicitation of an offer to
buy or sell any security or instrument or to participate in any particular
trading strategy. Morgan Stanley & Co. Incorporated, Morgan Stanley & Co.
International Limited, Morgan Stanley Japan Ltd. and/or their affiliates may
have positions in, and effect transactions in securities and instruments of
issuers mentioned herein and may also provide or seek to provide significant
advice or investment services, including investment banking,for the issuers of
such securities and instruments. Additional information is available upon
request. To Our Readers Worldwide: In addition please note that this publication
has been issued by Morgan Stanley & Co. Incorporated and approved by Morgan
Stanley & Co. International Limited, a member of The Securities and Futures
Authority and Morgan Stanley Japan, Ltd. We recommend that investors obtain the
advice of their Morgan Stanley & Co. International limited or Morgan Stanley
Japan, Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION
TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
<PAGE> 11
MORGAN STANLEY DEAN WITTER
<TABLE>
<CAPTION>
UNION PLANTERS UNION PLANTERS REMIC SERIES 2000-TBD (FHA/VA, 7.60% COUPON) CLASS AAA
<S> <C> <C> <C> <C> <C> <C> <C>
Class AAA Cusip N/A Dated Date 07/01/2000 Original Balance 97,879,000.00
Delay 24 First Payment Date 08/25/2000 Factor 1.00000000 Lead Manager MSDW
Payment Freq Monthly Next Payment Date 08/25/2000 Current Balance 97,879,000.00 Orig Deal Size 127,282,880.33
Yield Day Count 30/360 Settlement Date 07/27/2000 Coupon 7.60000 Num of Tranches 18
Yield Freq SemiAnnual Interest Freq Monthly Market Desc SEQ Deal Age 0
Yield Table Date 07/14/2000
</TABLE>
<TABLE>
<CAPTION>
TRIGGER _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO
_HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO
_LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO
PREPAY CPR 6 CPR 8 CPR 10 CPR 12 CPR 15 CPR 20
PRICE/YIELD
<S> <C> <C> <C> <C> <C> <C>
99/09 7.775 7.782 7.789 7.797 7.809 7.831
99/09+ 7.771 7.777 7.784 7.791 7.803 7.823
99/10 7.767 7.773 7.779 7.786 7.796 7.815
99/10+ 7.763 7.768 7.774 7.780 7.790 7.807
99/11 7.759 7.764 7.769 7.775 7.783 7.798
99/11+ 7.755 7.760 7.764 7.769 7.777 7.790
99/12 7.751 7.755 7.759 7.763 7.770 7.782
99/12+ 7.747 7.751 7.754 7.758 7.764 7.774
99/13 7.743 7.746 7.749 7.752 7.757 7.766
99/13+ 7.739 7.742 7.744 7.747 7.751 7.758
99/14 7.735 7.737 7.739 7.741 7.744 7.750
99/14+ 7.731 7.733 7.734 7.736 7.738 7.742
99/15 7.728 7.728 7.729 7.730 7.731 7.734
99/15+ 7.724 7.724 7.724 7.724 7.725 7.726
99/16 7.720 7.719 7.719 7.719 7.719 7.718
99/16+ 7.716 7.715 7.714 7.713 7.712 7.710
99/17 7.712 7.711 7.709 7.708 7.706 7.702
99/17+ 7.708 7.706 7.704 7.702 7.699 7.694
99/18 7.704 7.702 7.699 7.697 7.693 7.686
99/18+ 7.700 7.697 7.694 7.691 7.686 7.678
99/19 7.696 7.693 7.689 7.686 7.680 7.670
99/19+ 7.692 7.688 7.684 7.680 7.673 7.662
99/20 7.688 7.684 7.679 7.675 7.667 7.654
99/20+ 7.684 7.679 7.674 7.669 7.661 7.645
99/21 7.680 7.675 7.669 7.663 7.654 7.637
99/21+ 7.676 7.671 7.664 7.658 7.648 7.629
99/22 7.673 7.666 7.659 7.652 7.641 7.621
99/22+ 7.669 7.662 7.654 7.647 7.635 7.613
99/23 7.665 7.657 7.649 7.641 7.628 7.605
99/23+ 7.661 7.653 7.644 7.636 7.622 7.597
99/24 7.657 7.648 7.639 7.630 7.616 7.589
99/24+ 7.653 7.644 7.635 7.625 7.609 7.581
99/25 7.649 7.640 7.630 7.619 7.603 7.573
AVERAGE LIFE 5.37 4.59 3.99 3.50 2.93 2.27
FIRST PRIN 08/25/2000 08/25/2000 08/25/2000 08/25/2000 08/25/2000 08/25/2000
LAST PRIN 1/25/2013 08/25/2011 05/25/2010 04/25/2009 01/25/2008 05/25/2006
PAYMENT WINDOW 150 133 118 105 90 70
MOD DURATION @ 99/17 3.97 3.51 3.13 2.81 2.42 1.94
<CAPTION>
TRIGGER _OPTIONALCALL NO
_HISTLOOKUP NO
_LOSSTRIGGER NO
PREPAY CPR 25
PRICE/YIELD
<S> <C>
99/09 7.854
99/09+ 7.844
99/10 7.835
99/10+ 7.825
99/11 7.815
99/11+ 7.805
99/12 7.795
99/12+ 7.786
99/13 7.776
99/13+ 7.766
99/14 7.756
99/14+ 7.746
99/15 7.737
99/15+ 7.727
99/16 7.717
99/16+ 7.707
99/17 7.698
99/17+ 7.688
99/18 7.678
99/18+ 7.668
99/19 7.659
99/19+ 7.649
99/20 7.639
99/20+ 7.629
99/21 7.620
99/21+ 7.610
99/22 7.600
99/22+ 7.590
99/23 7.581
99/23+ 7.571
99/24 7.561
99/24+ 7.551
99/25 7.542
AVERAGE LIFE 1.83
FIRST PRIN 08/25/2000
LAST PRIN 04/25/2005
PAYMENT WINDOW 57
MOD DURATION @ 99/17 1.60
</TABLE>
Page 1 of 2
This memorandum is based on information generally available to the public from
sources believed to be reliable. No representation is made that it is accurate
or complete. Certain assumptions may have been made in this analysis which have
resulted in any returns detailed herein. No representation is made that any
returns indicated will be achieved. Changes to the assumptions may have a
material impact on any returns detailed. Past performance is not necessarily
indicative of future returns. Price and availability are subject to change
without notice. The foregoing has been prepared solely for informational
purposes, and is not an offer to buy or sell or a solicitation of an offer to
buy or sell any security or instrument or to participate in any particular
trading strategy. Morgan Stanley & Co. Incorporated, Morgan Stanley & Co.
International Limited, Morgan Stanley Japan Ltd. and/or their affiliates may
have positions in, and effect transactions in securities and instruments of
issuers mentioned herein and may also provide or seek to provide significant
advice or investment services, including investment banking,for the issuers of
such securities and instruments. Additional information is available upon
request. To Our Readers Worldwide: In addition please note that this publication
has been issued by Morgan Stanley & Co. Incorporated and approved by Morgan
Stanley & Co. International Limited, a member of The Securities and Futures
Authority and Morgan Stanley Japan, Ltd. We recommend that investors obtain the
advice of their Morgan Stanley & Co. International limited or Morgan Stanley
Japan, Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION
TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
<PAGE> 12
MORGAN STANLEY DEAN WITTER
<TABLE>
<CAPTION>
UNION PLANTERS UNION PLANTERS REMIC SERIES 2000-TBD (FHA/VA, 7.60% COUPON) CLASS AAA
<S> <C> <C> <C> <C> <C> <C> <C>
Class AAA Cusip N/A Dated Date 07/01/2000 Original Balance 24,361,000.00
Delay 24 First Payment Date 08/25/2000 Factor 1.00000000 Lead Manager MSDW
Payment Freq Monthly Next Payment Date 08/25/2000 Current Balance 24,361,000.00 Orig Deal Size 127,282,880.33
Yield Day Count 30/360 Settlement Date 07/27/2000 Coupon 7.60000 Num of Tranches 18
Yield Freq SemiAnnual Interest Freq Monthly Market Desc SEQ Deal Age 0
Yield Table Date 07/14/2000
</TABLE>
<TABLE>
<CAPTION>
TRIGGER _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO _OPTIONALCALL NO
_HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO _HISTLOOKUP NO
_LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO _LOSSTRIGGER NO
PREPAY CPR 6 CPR 8 CPR 10 CPR 12 CPR 15 CPR 20
PRICE/YIELD
<S> <C> <C> <C> <C> <C> <C>
96/28 8.022 8.035 8.050 8.068 8.097 8.155
96/28+ 8.020 8.033 8.048 8.065 8.095 8.152
96/29 8.018 8.031 8.046 8.063 8.093 8.150
96/29+ 8.017 8.029 8.044 8.061 8.090 8.147
96/30 8.015 8.027 8.042 8.059 8.088 8.144
96/30+ 8.013 8.025 8.040 8.057 8.086 8.142
96/31 8.011 8.023 8.038 8.055 8.084 8.139
96/31+ 8.009 8.021 8.036 8.053 8.081 8.137
97/00 8.007 8.020 8.034 8.051 8.079 8.134
97/00+ 8.006 8.018 8.032 8.049 8.077 8.131
97/01 8.004 8.016 8.030 8.046 8.074 8.129
97/01+ 8.002 8.014 8.028 8.044 8.072 8.126
97/02 8.000 8.012 8.026 8.042 8.070 8.123
97/02+ 7.998 8.010 8.024 8.040 8.068 8.121
97/03 7.997 8.008 8.022 8.038 8.065 8.118
97/03+ 7.995 8.006 8.020 8.036 8.063 8.116
97/04 7.993 8.004 8.018 8.034 8.061 8.113
97/04+ 7.991 8.002 8.016 8.032 8.058 8.110
97/05 7.989 8.001 8.014 8.030 8.056 8.108
97/05+ 7.987 7.999 8.012 8.028 8.054 8.105
97/06 7.986 7.997 8.010 8.026 8.052 8.102
97/06+ 7.984 7.995 8.008 8.023 8.049 8.100
97/07 7.982 7.993 8.006 8.021 8.047 8.097
97/07+ 7.980 7.991 8.004 8.019 8.045 8.095
97/08 7.978 7.989 8.002 8.017 8.043 8.092
97/08+ 7.976 7.987 8.000 8.015 8.040 8.089
97/09 7.975 7.985 7.998 8.013 8.038 8.087
97/09+ 7.973 7.983 7.996 8.011 8.036 8.084
97/10 7.971 7.982 7.994 8.009 8.033 8.081
97/10+ 7.969 7.980 7.992 8.007 8.031 8.079
97/11 7.967 7.978 7.990 8.005 8.029 8.076
97/11+ 7.966 7.976 7.988 8.002 8.027 8.074
97/12 7.964 7.974 7.986 8.000 8.024 8.071
AVERAGE LIFE 15.92 14.79 13.66 12.56 11.05 8.96
FIRST PRIN 01/25/2013 08/25/2011 05/25/2010 04/25/2009 01/25/2008 05/25/2006
LAST PRIN 09/25/2025 09/25/2025 09/25/2025 09/25/2025 09/25/2025 09/25/2025
PAYMENT WINDOW 153 170 185 198 213 233
MOD DURATION @ 97/04 8.78 8.42 8.03 7.63 7.03 6.09
<CAPTION>
TRIGGER _OPTIONALCALL NO
_HISTLOOKUP NO
_LOSSTRIGGER NO
PREPAY CPR 25
PRICE/YIELD
<S> <C>
96/28 8.223
96/28+ 8.220
96/29 8.217
96/29+ 8.214
96/30 8.211
96/30+ 8.208
96/31 8.205
96/31+ 8.202
97/00 8.199
97/00+ 8.196
97/01 8.193
97/01+ 8.190
97/02 8.187
97/02+ 8.183
97/03 8.180
97/03+ 8.177
97/04 8.174
97/04+ 8.171
97/05 8.168
97/05+ 8.165
97/06 8.162
97/06+ 8.159
97/07 8.156
97/07+ 8.153
97/08 8.150
97/08+ 8.147
97/09 8.144
97/09+ 8.141
97/10 8.138
97/10+ 8.135
97/11 8.132
97/11+ 8.129
97/12 8.126
Average Life 7.33
First Prin 04/25/2005
Last Prin 09/25/2025
Payment Window 246
Mod Duration @ 97/04 5.27
</TABLE>
Page 2 of 2
This memorandum is based on information generally available to the public from
sources believed to be reliable. No representation is made that it is accurate
or complete. Certain assumptions may have been made in this analysis which have
resulted in any returns detailed herein. No representation is made that any
returns indicated will be achieved. Changes to the assumptions may have a
material impact on any returns detailed. Past performance is not necessarily
indicative of future returns. Price and availability are subject to change
without notice. The foregoing has been prepared solely for informational
purposes, and is not an offer to buy or sell or a solicitation of an offer to
buy or sell any security or instrument or to participate in any particular
trading strategy. Morgan Stanley & Co. Incorporated, Morgan Stanley & Co.
International Limited, Morgan Stanley Japan Ltd. and/or their affiliates may
have positions in, and effect transactions in securities and instruments of
issuers mentioned herein and may also provide or seek to provide significant
advice or investment services, including investment banking,for the issuers of
such securities and instruments. Additional information is available upon
request. To Our Readers Worldwide: In addition please note that this publication
has been issued by Morgan Stanley & Co. Incorporated and approved by Morgan
Stanley & Co. International Limited, a member of The Securities and Futures
Authority and Morgan Stanley Japan, Ltd. We recommend that investors obtain the
advice of their Morgan Stanley & Co. International limited or Morgan Stanley
Japan, Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION
TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
<PAGE> 13
UNION PLANTERS MORTGAGE FINANCE CORP. MORGAN STANLEY DEAN WITTER
Mortgage Pass-Through Certificates, Series 2000-1 3,060 records
Securitization Pool Balance: 127,282,880
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Loan Type Loans Balance %
<S> <C> <C> <C>
FHA 2,184 96,635,799 75.92
VA 876 30,647,081 24.08
Total: 3,060 127,282,880 100.00
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Current Balance Loans Balance %
<S> <C> <C> <C>
1 - 10,000 385 1,554,226 1.22
10,001 - 20,000 363 5,544,040 4.36
20,001 - 30,000 341 8,530,126 6.70
30,001 - 40,000 426 14,923,207 11.72
40,001 - 50,000 465 20,886,870 16.41
50,001 - 60,000 369 20,310,275 15.96
60,001 - 70,000 284 18,521,058 14.55
70,001 - 80,000 209 15,607,687 12.26
80,001 - 90,000 92 7,799,937 6.13
90,001 - 100,000 57 5,370,272 4.22
100,001 - 110,000 29 3,053,883 2.40
110,001 - 120,000 24 2,790,289 2.19
120,001 - 130,000 4 507,153 0.40
130,001 - 140,000 6 811,568 0.64
140,001 - 150,000 2 286,674 0.23
190,001 - 200,000 4 785,614 0.62
Total: 3,060 127,282,880 100.00
Min: 60.83
Max: 198,250.64
Average: 41,595.71
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Current Coupon Loans Balance %
<S> <C> <C> <C>
4.501 - 5.000 1 93,599 0.07
5.001 - 5.500 2 68,007 0.05
5.501 - 6.000 4 239,887 0.19
6.001 - 6.500 6 268,096 0.21
6.501 - 7.000 235 3,248,903 2.55
7.001 - 7.500 171 8,870,697 6.97
7.501 - 8.000 315 14,077,891 11.06
8.001 - 8.500 521 19,751,179 15.52
8.501 - 9.000 390 16,928,450 13.30
9.001 - 9.500 462 20,995,099 16.49
.501 - 10.000 356 17,047,392 13.39
10.001 - 10.500 266 12,914,508 10.15
10.501 - 11.000 77 3,669,204 2.88
11.001 - 11.500 100 3,777,735 2.97
11.501 - 12.000 55 2,008,806 1.58
12.001 - 12.500 38 1,344,914 1.06
12.501 - 13.000 25 1,007,714 0.79
13.001 - 13.500 17 505,155 0.40
13.501 - 14.000 7 161,628 0.13
14.001 - 14.500 2 97,571 0.08
14.501 - 15.000 1 40,500 0.03
15.001 - 15.500 8 156,027 0.12
17.001 - 17.500 1 9,917 0.01
Total: 3,060 127,282,880 100.00
Min: 4.75
Max: 17.50
WAC: 9.28
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Original Term Loans Balance %
<S> <C> <C> <C>
61 - 120 15 323,702 0.25
121 - 180 172 5,125,016 4.03
181 - 240 16 563,358 0.44
241 - 300 57 1,650,861 1.30
301 - 360 2,785 119,104,030 93.57
>= 361 15 515,914 0.41
Total: 3,060 127,282,880 100.00
Min: 120
Max: 496
Weighted Average: 351
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters Corporation with respect to the expected
characteristics of the pool of Assets in which these securities will represent
undivided beneficial interests. The actual characteristics and performance of
the Assets will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
Page 1 of 5
<PAGE> 14
UNION PLANTERS MORTGAGE FINANCE CORP. MORGAN STANLEY DEAN WITTER
Mortgage Pass-Through Certificates, Series 2000-1 3,060 records
Securitization Pool Balance: 127,282,880
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Stated Remaining Term Loans Balance %
<S> <C> <C> <C>
<= 0 4 1,170 0.00
1 - 12 68 70,787 0.06
13 - 24 88 307,816 0.24
25 - 36 83 372,769 0.29
37 - 48 42 311,347 0.24
49 - 60 49 469,614 0.37
61 - 72 69 838,012 0.66
73 - 84 97 1,481,192 1.16
85 - 96 126 2,336,349 1.84
97 - 108 116 2,736,280 2.15
109 - 120 108 2,735,263 2.15
121 - 132 114 3,521,546 2.77
133 - 144 33 1,354,448 1.06
145 - 156 59 2,393,751 1.88
157 - 168 45 1,671,829 1.31
169 - 180 42 1,876,449 1.47
181 - 192 247 11,757,536 9.24
193 - 204 479 25,354,407 19.92
205 - 216 218 10,724,047 8.43
217 - 228 151 7,438,582 5.84
229 - 240 127 6,621,839 5.20
241 - 252 107 6,269,751 4.93
253 - 264 108 6,892,208 5.41
265 - 276 222 13,741,597 10.80
277 - 288 84 5,210,312 4.09
289 - 300 34 2,072,038 1.63
301 - 312 65 3,631,457 2.85
313 - 324 36 2,131,705 1.67
325 - 336 33 2,439,342 1.92
337 - 348 5 425,840 0.33
349 - 360 1 93,599 0.07
Total: 3,060 127,282,880 100.00
Min: 0
Max: 349
Weighted Average: 214
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Occupancy Loans Balance %
<S> <C> <C> <C>
Primary 2,398 102,918,447 80.86
Unknown 451 15,169,541 11.92
Non-Owner Occupied 171 7,474,526 5.87
Other 40 1,720,367 1.35
Total: 3,060 127,282,880 100.00
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Year of Origination Loans Balance %
<C> <C> <C> <C>
1960 3 34,929 0.03
1965 1 130 0.00
1968 1 6,463 0.01
1970 24 16,155 0.01
1971 80 115,946 0.09
1972 69 195,555 0.15
1973 48 232,258 0.18
1974 35 216,769 0.17
1975 42 331,793 0.26
1976 62 696,765 0.55
1977 120 1,762,689 1.38
1978 97 1,690,385 1.33
1979 123 2,907,473 2.28
1980 75 1,962,993 1.54
1981 21 526,630 0.41
1982 19 667,540 0.52
1983 70 2,541,806 2.00
1984 27 1,010,409 0.79
1985 113 5,137,379 4.04
1986 396 20,087,656 15.78
1987 379 18,803,415 14.77
1988 186 9,308,088 7.31
1989 187 8,597,770 6.75
1990 97 5,395,599 4.24
1991 108 6,457,802 5.07
1992 158 9,571,479 7.52
1993 188 11,853,080 9.31
1994 66 3,677,665 2.89
1995 43 2,169,837 1.70
1996 159 7,306,048 5.74
1997 37 2,259,551 1.78
1998 19 1,205,337 0.95
1999 7 535,487 0.42
Total: 3,060 127,282,880 100.00
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters Corporation with respect to the expected
characteristics of the pool of Assets in which these securities will represent
undivided beneficial interests. The actual characteristics and performance of
the Assets will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
Page 2 of 5
<PAGE> 15
UNION PLANTERS MORTGAGE FINANCE CORP. MORGAN STANLEY DEAN WITTER
Mortgage Pass-Through Certificates, Series 2000-1 3,060 records
Securitization Pool Balance: 127,282,880
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Year of Maturity Loans Balance %
<C> <C> <C> <C>
2000 19 7,419 0.01
2001 97 189,902 0.15
2002 83 337,580 0.27
2003 64 356,635 0.28
2004 42 337,960 0.27
2005 50 496,310 0.39
2006 89 1,176,719 0.92
2007 124 2,171,425 1.71
2008 112 2,313,839 1.82
2009 121 3,018,617 2.37
2010 82 2,197,739 1.73
2011 98 3,248,742 2.55
2012 27 1,103,962 0.87
2013 72 2,841,974 2.23
2014 35 1,303,849 1.02
2015 104 4,562,747 3.58
2016 357 18,425,440 14.48
2017 390 20,295,477 15.95
2018 186 9,273,501 7.29
2019 162 7,750,236 6.09
2020 98 5,552,841 4.36
2021 99 6,153,703 4.83
2022 143 8,642,382 6.79
2023 189 12,372,111 9.72
2024 56 3,302,847 2.59
2025 45 2,267,328 1.78
2026 64 3,895,325 3.06
2027 29 1,831,577 1.44
2028 19 1,446,903 1.14
2029 4 407,789 0.32
Total: 3,060 127,282,880 100.00
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Original LTV Loans Balance %
<S> <C> <C> <C>
<= 0.00 1,008 37,800,748 29.70
0.01 - 10.00 6 182,203 0.14
10.01 - 20.00 1 31,556 0.02
30.01 - 40.00 3 96,470 0.08
40.01 - 50.00 5 141,982 0.11
50.01 - 60.00 8 173,363 0.14
60.01 - 70.00 15 462,732 0.36
70.01 - 80.00 53 2,108,409 1.66
80.01 - 90.00 202 8,918,046 7.01
90.01 - 95.00 177 8,234,228 6.47
95.01 - 100.00 968 37,921,610 29.79
100.01 - 105.00 585 30,099,482 23.65
105.01 - 110.00 21 875,268 0.69
110.01 - 115.00 5 106,873 0.08
115.01 - 120.00 1 50,049 0.04
120.01 >= 2 79,861 0.06
Total: 3,060 127,282,880 100.00
Non-Zero Min: 6.58
Max: 143.33
Non-Zero Wtd Average: 96.66
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Current LTV Loans Balance %
<S> <C> <C> <C>
<= 0.00 1,005 37,785,007 29.69
0.01 - 70.00 644 11,292,881 8.87
70.01 - 75.00 96 4,229,752 3.32
75.01 - 80.00 154 7,668,565 6.02
80.01 - 85.00 358 18,641,956 14.65
85.01 - 90.00 334 18,867,581 14.82
90.01 - 95.00 381 23,063,966 18.12
95.01 - 100.00 79 5,170,880 4.06
100.01 - 105.00 9 562,293 0.44
Total: 3,060 127,282,880 100.00
Non-Zero Min: 0.24
Max: 04.91
Non-Zero Wtd Average: 82.47
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters Corporation with respect to the expected
characteristics of the pool of Assets in which these securities will represent
undivided beneficial interests. The actual characteristics and performance of
the Assets will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
Page 3 of 5
<PAGE> 16
UNION PLANTERS MORTGAGE FINANCE CORP. MORGAN STANLEY DEAN WITTER
Mortgage Pass-Through Certificates, Series 2000-1 3,060 records
Securitization Pool Balance: 127,282,880
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
State Loans Balance %
<S> <C> <C> <C>
Alaska 2 167,440 0.13
Alabama 89 3,076,401 2.42
Arkansas 112 2,183,848 1.72
Arizona 76 3,513,708 2.76
California 277 16,936,486 13.31
Colorado 29 1,417,013 1.11
Connecticut 3 308,178 0.24
District of Columbia 4 153,935 0.12
Delaware 3 150,425 0.12
Florida 252 12,824,641 10.08
Georgia 149 6,962,623 5.47
Hawaii 1 67,412 0.05
Iowa 10 341,474 0.27
Idaho 1 44,601 0.04
Illinois 54 2,939,038 2.31
Indiana 28 1,020,865 0.80
Kansas 22 675,971 0.53
Kentucky 4 146,157 0.11
Louisiana 155 5,022,163 3.95
Massachusetts 3 215,027 0.17
Maryland 60 3,635,700 2.86
Michigan 21 757,402 0.60
Minnesota 38 1,827,956 1.44
Missouri 39 1,794,922 1.41
Mississippi 368 8,909,826 7.00
Montana 2 42,620 0.03
Nebraska 27 858,830 0.67
Nevada 10 525,273 0.41
New Hampshire 2 126,796 0.10
New Jersey 61 2,780,471 2.18
New Mexico 6 345,854 0.27
New York 101 4,453,992 3.50
North Carolina 47 2,516,768 1.98
Ohio 38 1,134,201 0.89
Oklahoma 47 1,815,167 1.43
Oregon 7 297,905 0.23
Pennsylvania 52 1,864,125 1.46
Rhode Island 2 143,238 0.11
South Carolina 21 880,695 0.69
South Dakota 1 25,726 0.02
Tennessee 255 9,971,289 7.83
Texas 475 19,509,605 15.33
Utah 5 248,091 0.19
Virginia 68 3,320,015 2.61
Virgin Islands 1 53,390 0.04
Washington 25 1,050,375 0.83
Wisconsin 5 147,866 0.12
Wyoming 2 77,378 0.06
Total: 3,060 127,282,880 100.00
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Seasoning Loans Balance %
<S> <C> <C> <C>
1 - 24 12 830,587 0.65
25 - 48 96 5,717,102 4.49
49 - 72 188 8,637,685 6.79
73 - 96 342 20,658,219 16.23
97 - 120 216 12,748,176 10.02
121 - 144 324 15,797,821 12.41
145 - 168 722 36,142,758 28.40
169 - 192 271 12,688,064 9.97
193 - 216 95 3,531,503 2.77
217 - 240 65 1,721,254 1.35
241 - 264 209 4,565,994 3.59
265 - 288 206 2,959,449 2.33
289 - 312 82 666,240 0.52
313 - 336 106 431,051 0.34
337 - 360 121 178,386 0.14
361 >= 5 8,593 0.01
Total: 3,060 127,282,880 100.00
Min: 11
Max: 418
Weighted Average: 137
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Months Delinquent Loans Balance %
<S> <C> <C> <C>
0 2,491 102,071,619 80.19
1 569 25,211,261 19.81
Total: 3,060 127,282,880 100.00
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters Corporation with respect to the expected
characteristics of the pool of Assets in which these securities will represent
undivided beneficial interests. The actual characteristics and performance of
the Assets will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular tradingstrategy. ANY SUCH OFFER TO BUY OR SELL ANY
SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
Page 4 of 5
<PAGE> 17
UNION PLANTERS MORTGAGE FINANCE CORP. MORGAN STANLEY DEAN WITTER
Mortgage Pass-Through Certificates, Series 2000-1 3,060 records
Securitization Pool Balance: 127,282,880
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Original Balance Loans Balance %
<S> <C> <C> <C>
1 - 50,000 1,593 34,935,312 27.45
50,001 - 100,000 1,327 77,861,823 61.17
100,001 - 150,000 132 13,358,100 10.49
150,001 - 200,000 3 322,396 0.25
200,001 >= 5 805,249 0.63
Total: 3,060 127,282,880 100.00
Min: 5,550.00
Max: 469,500.00
Average: 52,289.41
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Product Type Loans Balance %
<S> <C> <C> <C>
Fixed - 30 Year 2,873 121,834,163 95.72
Fixed - 15 Year 187 5,448,717 4.28
Total: 3,060 127,282,880 100.00
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Lien Position Loans Balance %
<S> <C> <C> <C>
1st Lien 3,060 127,282,880 100.00
Total: 3,060 127,282,880 100.00
</TABLE>
<TABLE>
<CAPTION>
Number of Aggregate
Mortgage Principal
Property Type Loans Balance %
<S> <C> <C> <C>
Single Family Detached 1,987 82,221,877 64.60
Not Available 1,019 42,281,603 33.22
Condo 36 1,763,676 1.39
Townhouse 9 547,772 0.43
2 Family 9 467,952 0.37
Total: 3,060 127,282,880 100.00
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by Union Planters Corporation with respect to the expected
characteristics of the pool of Assets in which these securities will represent
undivided beneficial interests. The actual characteristics and performance of
the Assets will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular tradingstrategy. ANY SUCH OFFER TO BUY OR SELL ANY
SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
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