<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: August 25, 1999
(Date of earliest event reported)
Commission File No. 333-40113
Bombardier Capital Mortgage Securitization Corporation
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C>
Vermont 03-0355080
- ------------------------ -------------------
(State of Incorporation) (I.R.S. Employer
Identification No.)
1600 Mountain View Drive, Colchester, VT 05446
- ---------------------------------------- ----------
Address of principal executive offices (Zip Code)
</TABLE>
(802) 654-7200
- --------------------------------------------------------------------------------
Registrant's Telephone Number, including area code
Not Applicable
- --------------------------------------------------------------------------------
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
ITEM 5. Other Events
Attached hereto as Exhibit 99.1 are the Computational Materials and
Collateral Terms Sheets (as defined in the no-action letter dated May
21, 1994 issued by the Securities and Exchange Commission to Kidder,
Peabody Acceptance Corporation-I, Kidder, Peabody & Co. Incorporated and
Kidder Structured Asset Corporation) prepared by Prudential Securities
Incorporated in connection with the offering of Bombardier Capital
Mortgage Securitization Corporation Senior/Subordinated Pass-Through
Certificates, Series 1999-B.
-2-
<PAGE>
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 hereunto duly authorized.
BOMBARDIER CAPITAL MORTGAGE
SECURITIZATION CORPORATION
August 25, 1999
By: /s/ Ronald C. Dove
-------------------------------
Name: Ronald C. Dove
Title: Vice President
-3-
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit No. Description
- ----------- -----------
<S> <C>
99.1 Computational Materials and Collateral Terms
Sheets
</TABLE>
-4-
<PAGE>
Preliminary Marketing Memorandum for
Bombardier Capital Mortgage Securitization Corporation
Senior/Subordinated Pass-Through Certificates, Series 1999-B
- -----------------------------------------------------------------------------
$[ 90,000,000] Class A-1 Certificates - [TBD %]
$[ 24,000,000] Class A-2 Certificates - [TBD %]
$[ 60,000,000] Class A-3 Certificates - [TBD %]
$[ 21,000,000] Class A-4 Certificates - [TBD %]
$[ 51,000,000] Class A-5 Certificates - [TBD %]
$[104,898,000] Class A-6 Certificates - [TBD %]
$[ 35,091,000] Class M-1 Certificates - [TBD %]
$[ 23,394,000] Class M-2 Certificates - [TBD %]
$[ 22,224,000] Class B-1 Certificates - [TBD %] ***Not Offered***
$[ 21,055,000] Class B-2 Certificates - [TBD %] ***Not Offered***
- -------------------------------------------------------------------------------
The information provided herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the Bombardier Capital Mortgage
Securitization Corporation, Series 1999-B transaction, and not by or as agent
for Bombardier Capital Inc. or any of its affiliates ("Bombardier Capital"). The
analysis in this report is accurate to the best of PSI's knowledge and is based
on information provided by Bombardier Capital. PSI makes no representations as
to the accuracy of such information provided to it by Bombardier Capital. All
assumptions and information in this report reflect PSI's judgment as of this
date and are subject to change. All analyses are based on certain assumptions
noted herein and different assumptions could yield substantially different
results. You are cautioned that there is no universally accepted method for
analyzing financial instruments. You should review the assumptions; there may be
differences between these assumptions and your actual business practices.
Further, PSI does not guarantee any results and there is no guarantee as to the
liquidity of the instruments involved in this analysis. The decision to adopt
any strategy remains your responsibility. PSI (or any of its affiliates) or
their officers, directors, analysts or employees may have positions in
securities, commodities or derivative instruments thereon referred to here, and
may, as principal or agent, buy or sell such securities, commodities or
derivative instruments. In addition, PSI may make a market in the securities
referred to herein. Neither the information nor the assumptions reflected herein
shall be construed to be, or constitute, an offer to sell or buy or a
solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. No sale of any securities, commodities
or derivative instruments should be consumated without the purchaser first
having received a prospectus and, if required, prospectus supplement. Finally,
PSI has not addressed the legal, accounting and tax implications of the analysis
with respect to you, and PSI strongly urges you to seek advice from your
counsel, accountant and tax advisor. The Certificates are being offered pursuant
to a Prospectus which includes a Prospectus Supplement (together, the
"Prospectus"). The information contained herein will be superseded by the final
Prospectus.
<PAGE>
Bombardier Capital Mortgage Securitization Corporation
Senior/Subordinated Pass-Through Certificates, Series 1999-B
Preliminary Marketing Memo
<TABLE>
<S> <C>
Issuer: BCMSC Trust 1999-B
Depositor: Bombardier Capital Mortgage Securitization Corporation
Offered Certificates: Class A-1, Class A-2, Class A-3, Class A-4, Class A-5,
Class A-6, Class M-1 and Class M-2
Other Certificates: Class B-1, Class B-2, Class X and Class R Certificates
are not being offered
Servicer: Bombardier Capital Inc.
Trustee: Harris Trust and Savings Bank
CREDIT ENHANCEMENT
------------------
1) Excess Interest
2) Over-Collateralization
3) Subordination
Excess Interest: Excess interest cashflows will be available as credit
enhancement.
Overcollateralization: The credit enhancement provisions of the Trust are
intended to provide for the limited acceleration of the
senior Certificates relative to the amortization of the
related collateral, generally in the early months of the
transaction. Accelerated amortization is achieved by
applying excess interest collected on the collateral to
the payment of principal on the senior Certificates,
resulting in the build up of overcollateralization
("O/C"). By paying down the principal balance of the
Certificates faster than the principal amortization of
the collateral, an O/C amount equal to the excess of the
aggregate principal balance of the collateral over the
principal balance of the Certificates is created. Excess
cashflow will be directed to build the O/C amount until
the required O/C target is achieved. Upon this event the
acceleration feature will cease, unless it is once again
necessary to maintain the required O/C level.
O/C Requirements
----------------
Initial: [3.25%] Target: [5.25%] of original
Stepdown: [9.1875%] of current Floor: [1.25%] of original
These O/C percentages are subject to step-downs
beginning in month [61] if the Principal Distribution
Tests are met.
Subordination:
Class A (AAA/Aaa) [25.00%]
Class M-1 (AA-/Aa3) [17.50%]
Class M-2 (A/A2) [12.50%]
Class B-1 (BBB/Baa2) [ 7.75%]
Class B-2 (BB/Ba2) [ 3.25%]
Class Sizes:
Class A (AAA/Aaa) [75.00%]
Class M-1 (AA-/Aa3) [ 7.50%]
Class M-2 (A/A2) [ 5.00%]
Class B-1 (BBB/Baa2) [ 4.75%]
Class B-2 (BB/Ba2) [ 4.50%]
Initial O/C [ 3.25%]
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
Bombardier Capital Mortgage Securitization Corporation
Senior/Subordinated Pass-Through Certificates, Series 1999-B
Preliminary Marketing Memo
<TABLE>
<CAPTION>
Class Class Class Class Class Class Class Class
A-1 A-2 A-3 A-4 A-5 A-6 M-1 M-2
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Ratings: [AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AA-/Aa3 A/A2]
(Fitch/Moody's)
Amount ($000): [90,000 24,000 60,000 21,000 51,000 104,898 35,091 23,394]
Coupon*: [------------------------------------------TBD-------------------------------------------]
* Note: Subject to the lesser of i) the specified rate per annum, and (ii) the
Weighted Average Net Asset Rate for the related Distribution Date.
Approx. Price: [------------------------------------------TBD-------------------------------------------]
Yield(%): [------------------------------------------TBD-------------------------------------------]
Spread (bps): [------------------------------------------TBD-------------------------------------------]
Avg Life
To Call: [0.905 2.068 3.012 4.013 5.254 11.116 10.063 10.063]
Avg Life
To Mat.: [0.905 2.068 3.012 4.013 5.254 12.614 11.217 11.143]
1st Prin Pymt
To 15% Call: [09/15/1999 06/15/2001 12/15/2001 05/15/2003 12/15/2003 05/15/2006 09/15/2004 09/15/2004]
Last Prin Pmt
To 15% Call: [06/15/2001 12/15/2001 05/15/2003 12/15/2003 05/15/2006 04/15/2013 04/15/2013 04/15/2013]
Last Prin Pmt
To Mat.: [06/15/2001 12/15/2001 05/15/2003 12/15/2003 05/15/2006 05/15/2023 11/15/2021 08/15/2020]
Stated Mat: [09/15/2010 06/15/2012 12/15/2015 12/15/2016 01/15/2020 12/15/2029 12/15/2029 12/15/2029]
Expected
Settlement: [<----------------------------------------[08/31/99] ----------------------------------------->]
Pymt Delay: [<-----------------------------------------14 days ------------------------------------------->]
Interest Pmt [<----------------------------------------- 30/360 ------------------------------------------->]
Basis:
Dated Date: [<----------------------------------------[08/01/99]------------------------------------------>]
Pricing Date: [August [TBD], 1999]
Prepayment Speed: [180% MHP]
Collateral Size: [$467,867,888.45]
Servicing Fee: [1.00%] per annum
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
Bombardier Capital Mortgage Securitization Corporation
Senior/Subordinated Pass-Through Certificates, Series 1999-B
Preliminary Marketing Memo
Cashflow Priority (Pricing Base Case):
AFTER THE CROSS-OVER DATE AND IF THE PRINCIPAL DISTRIBUTION TESTS ARE MET:
1) Servicing fees and repayment of any unreimbursed Advances and
reimbursable expenses to the Servicer;
2) Current interest and any previously unreimbursed interest to
Class A Certificates, on a pro rata basis;
3) Current interest and any previously unreimbursed interest to
Class M-1 Certificates;
4) Current interest and any previously unreimbursed interest to
Class M-2 Certificates;
5) Current interest and any previously unreimbursed interest to
Class B-1 Certificates;
6) Current interest and any previously unreimbursed interest to
Class B-2 Certificates;
7) Principal distribution shortfall carryover amount for the Class A
Certificates, if any, on a pro rata basis;
8) Class A percentage of the principal distribution amount to the
Class A Certificates, in sequential order, in reduction of the
Certificate Principal Balance of such Classes, until such Classes
are reduced to zero;
9) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class M-1 Certificates, if
any;
10) Principal distribution shortfall carryover amount for the Class
M-1 Certificates, if any;
11) Class M-1 percentage of the principal distribution amount to the
Class M-1 Certificates;
12) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class M-2 Certificates, if
any;
13) Principal distribution shortfall carryover amount for the Class
M-2 Certificates, if any;
14) Class M-2 percentage of the principal distribution amount to the
Class M-2 Certificates;
15) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class B-1 Certificates, if
any;
16) Principal distribution shortfall carryover amount for the Class
B-1 Certificates, if any;
17) Class B-1 percentage of the principal distribution amount to the
Class B-1 Certificates;
18) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class B-2 Certificates, if
any;
19) Principal distribution shortfall carryover amount for the Class
B-2 Certificates, if any;
20) Class B-2 percentage of the principal distribution amount to the
Class B-2 Certificates, subject to the Class B-2 Floor Amount of
[0.75%] of the collateral balance as of the Cut-off Date (such
reduction to be distributed to the next more senior Certificate
class);
21) To the Class A Certificates, sequentially, the accelerated
principal distribution amount for such distribution date;
22) To the Class X Certificates, in the following sequential order:
(i) the current Class X strip amount, and (ii) any Class X strip
amounts from previous distribution dates remaining unpaid; and
23) Any remainder to the Class R Certificates.
--------------------------------------------------
| |
| Class A Certificates |
| (A-1 through A-6, sequentially) |
|------------------------------------------------|
|///////////////////| Class M-1 |
|///////////////////|--------------------------- |
|///////////////////| Class M-2 |
|///////////////////|--------------------------- |
|///////////////////| Class B-1 |
|///////////////////|--------------------------- |
|///////////////////| Class B-2 |
--------------------------------------------------
5 yrs
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO
HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR
INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE
SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND
WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING,
WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING
ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT.
OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE
MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
Bombardier Capital Mortgage Securitization Corporation
Senior/Subordinated Pass-Through Certificates, Series 1999-B
Preliminary Marketing Memo
Cashflow Priority:
PRIOR TO THE CROSS-OVER DATE OR IF THE PRINCIPAL DISTRIBUTION
TESTS ARE NOT MET:
1) Servicing fees and repayment of any unreimbursed Advances and
reimbursable expenses to the Servicer;
2) Current interest and any previously unreimbursed interest to
Class A Certificates, on a pro rata basis;
3) Current interest and any previously unreimbursed interest to
Class M-1 Certificates;
4) Current interest and any previously unreimbursed interest to
Class M-2 Certificates;
5) Current interest and any previously unreimbursed interest to
Class B-1 Certificates;
6) Current interest and any previously unreimbursed interest to
Class B-2 Certificates;
7) Principal distribution shortfall carryover amount for the Class A
Certificates, if any, on a pro rata basis;
8) 100% of principal payments to the Class A Certificates, in
sequential order, until such classes are reduced to zero
(provided, however, an any Distribution Date on which the current
collateral balance is less than the current aggregate principal
balance of the Class A Certificates, such amounts will be
allocated pro rata among the Class A Certificates);
9) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class M-1 Certificates, if
any;
10) Principal distribution shortfall carryover amount to the Class
M-1 Certificates, if any;
11) 100% of principal payments to the Class M-1 Certificates, until
reduced to zero;
12) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class M-2 Certificates, if
any;
13) Principal distribution shortfall carryover amount to the Class
M-2 Certificates, if any;
14) 100% of principal payments to the Class M-2 Certificates, until
reduced to zero;
15) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class B-1 Certificates, if
any;
16) Principal distribution shortfall carryover amount to the Class
B-1 Certificates, if any;
17) 100% of principal payments to the Class B-1 Certificates, until
reduced to zero;
18) Writedown interest distribution amount and carryover writedown
interest distribution amount to the Class B-2 Certificates, if
any;
19) Principal distribution shortfall carryover amount to the Class
B-2 Certificates;
20) 100% of principal payments to the Class B-2 Certificates, until
reduced to zero;
21) To the Class A Certificates, sequentially, the accelerated
principal distribution amount for such distribution date;
22) To the Class X Certificates, in the following sequential order:
(i) the current Class X strip amount, and (ii) any Class X strip
amounts from previous distribution dates remaining unpaid; and
23) Any remainder to the Class R Certificates.
- --------------------------------------------------------------------------------
| | | | | | | | | | |
| | | | | | | | | | |
| A-1 | A-2 | A-3 | A-4 | A-5 | A-6 | M-1 | M-2 | B-1 | B-2 |
| | | | | | | | | | |
|-------|-------|-------|-------|-------|-------|-------|-------|-------|------|
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO
HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR
INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE
SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND
WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING,
WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING
ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT.
OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE
MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
Bombardier Capital Mortgage Securitization Corporation
Senior/Subordinated Pass-Through Certificates, Series 1999-B
Preliminary Marketing Memo
THE CROSS-OVER DATE WILL BE THE LATER TO OCCUR OF:
1) the Distribution Date occurring in September 2004; or
2) the first Distribution Date when the current principal balance of
the Class M-1, Class M-2, Class B-1 and Class B-2 Certificates
(after write-downs, if any) plus the current O/C amount divided
by the current collateral balance equals or exceeds [1.90] times
the principal balance of the Class M-1, Class M-2, Class B-1 and
Class B-2 Certificates plus the O/C amount as of the Closing Date
divided by the collateral balance as of the Cut-off Date.
THE PRINCIPAL DISTRIBUTION TESTS ARE MET IF:
1) Cumulative Realized Losses do not exceed [7%] in months 61
to 72, [8%] in months 73 to 84, and [9%] thereafter;
2) Current Realized Loss Ratio does not exceed [2.75%];
3) Average Sixty-Day Delinquency Ratio does not exceed [5%];
and
4) Average Thirty-Day Delinquency Ratio does not exceed [7%].
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
Optional Termination: The Servicer and the holders of a majority interest in
the Class R Certificates each have the option to
purchase all of the trust assets at any time after the
aggregate of unpaid principal balance of all
Certificates is reduced to less than or equal to 15% of
original aggregate Certificate balance.
Auction Sale: If neither the servicer nor the holders of a majority
interest of the Class R Certificates exercises its
optional termination rights within 90 days after it
first becomes permitted to do so, the Trustee will
solicit bids on the assets remaining in the trust. The
Trustee will only accept a bid if it is at least as
great as the remaining principal balance on all
certificates plus any unpaid interest and expenses.
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning in September 1999.
Interest Accrual: Interest will accrue from the 1st day of the preceding
month until the 30th day. Interest is calculated using a
30/360 day count.
ERISA Considerations: The Class A Certificates will be ERISA eligible. All
other Certificate classes are not ERISA eligible.
However, investors should consult with their counsel
with respect to the consequences under ERISA and the
Code of the Plan's acquisition and ownership of such
Certificates.
SMMEA Considerations: The Class A and Class M-1 Certificates will constitute
"mortgage related securities" under the Secondary
Mortgage Market Enhancement Act of 1984 "SMMEA".
Taxation: REMIC.
Prospectus: The Certificates are being offered pursuant to a
Prospectus which includes a Prospectus Supplement
(together, the "Prospectus") Complete information with
respect to the Certificates and the Collateral is
contained in the Prospectus. The foregoing is qualified
in its entirety by the information appearing in the
Prospectus. To the extent that the foregoing is
inconsistent with the Prospectus, the Prospectus shall
govern in all respects. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $90,000,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $90,000,000.00 BOND A-1 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 6.72 6.72 6.72 6.72 6.71 6.71 6.71
99-24+ 6.70 6.71 6.71 6.70 6.69 6.69 6.68
99-25 6.68 6.70 6.69 6.68 6.67 6.67 6.66
99-25+ 6.66 6.68 6.67 6.67 6.65 6.65 6.64
99-26 6.64 6.67 6.66 6.65 6.63 6.62 6.62
99-26+ 6.62 6.65 6.64 6.63 6.61 6.60 6.59
99-27 6.60 6.64 6.63 6.62 6.59 6.58 6.57
99-27+ 6.59 6.63 6.61 6.60 6.57 6.56 6.55
99-28 6.57 6.61 6.60 6.58 6.55 6.54 6.52
99-28+ 6.55 6.60 6.58 6.57 6.53 6.52 6.50
99-29 6.53 6.58 6.57 6.55 6.51 6.50 6.48
99-29+ 6.51 6.57 6.55 6.53 6.49 6.47 6.46
99-30 6.49 6.56 6.54 6.51 6.47 6.45 6.43
99-30+ 6.48 6.54 6.52 6.50 6.45 6.43 6.41
99-31 6.46 6.53 6.50 6.48 6.43 6.41 6.39
99-31+ 6.44 6.52 6.49 6.46 6.41 6.39 6.36
100-00 6.42 6.50 6.47 6.45 6.39 6.37 6.34
100-00+ 6.40 6.49 6.46 6.43 6.37 6.35 6.32
100-01 6.38 6.47 6.44 6.41 6.35 6.32 6.30
100-01+ 6.36 6.46 6.43 6.40 6.33 6.30 6.27
100-02 6.35 6.45 6.41 6.38 6.31 6.28 6.25
100-02+ 6.33 6.43 6.40 6.36 6.29 6.26 6.23
100-03 6.31 6.42 6.38 6.34 6.27 6.24 6.20
100-03+ 6.29 6.40 6.37 6.33 6.25 6.22 6.18
100-04 6.27 6.39 6.35 6.31 6.23 6.20 6.16
100-04+ 6.25 6.38 6.34 6.29 6.21 6.18 6.14
100-05 6.24 6.36 6.32 6.28 6.19 6.15 6.11
100-05+ 6.22 6.35 6.30 6.26 6.17 6.13 6.09
100-06 6.20 6.34 6.29 6.24 6.16 6.11 6.07
100-06+ 6.18 6.32 6.27 6.23 6.14 6.09 6.05
100-07 6.16 6.31 6.26 6.21 6.12 6.07 6.02
100-07+ 6.14 6.29 6.24 6.19 6.10 6.05 6.00
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 0.905 1.221 1.092 0.989 0.835 0.776 0.725
Last Payment 1.792 2.458 2.208 1.958 1.708 1.542 1.458
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $24,000,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $24,000,000.00 BOND A-2 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.05 7.05 7.05 7.05 7.05 7.04 7.04
99-24+ 7.04 7.05 7.04 7.04 7.04 7.03 7.03
99-25 7.03 7.04 7.04 7.03 7.03 7.02 7.02
99-25+ 7.02 7.03 7.03 7.03 7.02 7.01 7.01
99-26 7.01 7.03 7.02 7.02 7.01 7.00 7.00
99-26+ 7.01 7.02 7.02 7.01 7.00 6.99 6.99
99-27 7.00 7.02 7.01 7.00 6.99 6.99 6.98
99-27+ 6.99 7.01 7.00 7.00 6.98 6.98 6.97
99-28 6.98 7.00 7.00 6.99 6.97 6.97 6.96
99-28+ 6.97 7.00 6.99 6.98 6.96 6.96 6.95
99-29 6.96 6.99 6.98 6.97 6.95 6.95 6.94
99-29+ 6.96 6.98 6.97 6.96 6.95 6.94 6.93
99-30 6.95 6.98 6.97 6.96 6.94 6.93 6.92
99-30+ 6.94 6.97 6.96 6.95 6.93 6.92 6.91
99-31 6.93 6.97 6.95 6.94 6.92 6.91 6.90
99-31+ 6.92 6.96 6.95 6.93 6.91 6.90 6.89
100-00 6.91 6.95 6.94 6.93 6.90 6.89 6.88
100-00+ 6.90 6.95 6.93 6.92 6.89 6.88 6.87
100-01 6.90 6.94 6.93 6.91 6.88 6.87 6.85
100-01+ 6.89 6.93 6.92 6.90 6.87 6.86 6.84
100-02 6.88 6.93 6.91 6.90 6.86 6.85 6.83
100-02+ 6.87 6.92 6.90 6.89 6.86 6.84 6.82
100-03 6.86 6.92 6.90 6.88 6.85 6.83 6.81
100-03+ 6.85 6.91 6.89 6.87 6.84 6.82 6.80
100-04 6.85 6.90 6.88 6.87 6.83 6.81 6.79
100-04+ 6.84 6.90 6.88 6.86 6.82 6.80 6.78
100-05 6.83 6.89 6.87 6.85 6.81 6.79 6.77
100-05+ 6.82 6.88 6.86 6.84 6.80 6.78 6.76
100-06 6.81 6.88 6.86 6.83 6.79 6.77 6.75
100-06+ 6.80 6.87 6.85 6.83 6.78 6.76 6.74
100-07 6.80 6.87 6.84 6.82 6.77 6.75 6.73
100-07+ 6.79 6.86 6.84 6.81 6.77 6.74 6.72
First Payment 1.792 2.458 2.208 1.958 1.708 1.542 1.458
Average Life 2.068 2.854 2.527 2.273 1.902 1.761 1.640
Last Payment 2.292 3.208 2.875 2.542 2.125 1.958 1.875
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $60,000,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $60,000,000.00 BOND A-3 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.30 7.31 7.30 7.30 7.30 7.30 7.30
99-24+ 7.29 7.30 7.30 7.30 7.29 7.29 7.29
99-25 7.29 7.30 7.29 7.29 7.29 7.28 7.28
99-25+ 7.28 7.29 7.29 7.29 7.28 7.28 7.27
99-26 7.28 7.29 7.28 7.28 7.27 7.27 7.27
99-26+ 7.27 7.28 7.28 7.28 7.27 7.26 7.26
99-27 7.26 7.28 7.27 7.27 7.26 7.26 7.25
99-27+ 7.26 7.27 7.27 7.26 7.25 7.25 7.24
99-28 7.25 7.27 7.26 7.26 7.25 7.24 7.24
99-28+ 7.25 7.27 7.26 7.25 7.24 7.23 7.23
99-29 7.24 7.26 7.25 7.25 7.23 7.23 7.22
99-29+ 7.24 7.26 7.25 7.24 7.23 7.22 7.21
99-30 7.23 7.25 7.24 7.24 7.22 7.21 7.21
99-30+ 7.22 7.25 7.24 7.23 7.22 7.21 7.20
99-31 7.22 7.24 7.23 7.23 7.21 7.20 7.19
99-31+ 7.21 7.24 7.23 7.22 7.20 7.19 7.18
100-00 7.21 7.23 7.22 7.21 7.20 7.19 7.18
100-00+ 7.20 7.23 7.22 7.21 7.19 7.18 7.17
100-01 7.19 7.23 7.21 7.20 7.18 7.17 7.16
100-01+ 7.19 7.22 7.21 7.20 7.18 7.17 7.15
100-02 7.18 7.22 7.20 7.19 7.17 7.16 7.15
100-02+ 7.18 7.21 7.20 7.19 7.16 7.15 7.14
100-03 7.17 7.21 7.19 7.18 7.16 7.14 7.13
100-03+ 7.16 7.20 7.19 7.18 7.15 7.14 7.13
100-04 7.16 7.20 7.19 7.17 7.14 7.13 7.12
100-04+ 7.15 7.19 7.18 7.17 7.14 7.12 7.11
100-05 7.15 7.19 7.18 7.16 7.13 7.12 7.10
100-05+ 7.14 7.19 7.17 7.16 7.12 7.11 7.10
100-06 7.13 7.18 7.17 7.15 7.12 7.10 7.09
100-06+ 7.13 7.18 7.16 7.14 7.11 7.10 7.08
100-07 7.12 7.17 7.16 7.14 7.11 7.09 7.07
100-07+ 7.12 7.17 7.15 7.13 7.10 7.08 7.07
First Payment 2.292 3.208 2.875 2.542 2.125 1.958 1.875
Average Life 3.012 4.198 3.709 3.323 2.755 2.542 2.360
Last Payment 3.708 5.208 4.625 4.125 3.375 3.125 2.875
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $21,000,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $21,000,000.00 BOND A-4 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.45 7.45 7.45 7.45 7.45 7.45 7.45
99-24+ 7.45 7.45 7.45 7.45 7.44 7.44 7.44
99-25 7.44 7.45 7.44 7.44 7.44 7.44 7.43
99-25+ 7.44 7.44 7.44 7.44 7.43 7.43 7.43
99-26 7.43 7.44 7.44 7.43 7.43 7.43 7.42
99-26+ 7.43 7.44 7.43 7.43 7.42 7.42 7.42
99-27 7.42 7.43 7.43 7.43 7.42 7.41 7.41
99-27+ 7.42 7.43 7.43 7.42 7.41 7.41 7.41
99-28 7.41 7.43 7.42 7.42 7.41 7.40 7.40
99-28+ 7.41 7.42 7.42 7.41 7.40 7.40 7.39
99-29 7.40 7.42 7.41 7.41 7.40 7.39 7.39
99-29+ 7.40 7.42 7.41 7.40 7.39 7.39 7.38
99-30 7.39 7.41 7.41 7.40 7.39 7.38 7.38
99-30+ 7.39 7.41 7.40 7.40 7.38 7.38 7.37
99-31 7.38 7.40 7.40 7.39 7.38 7.37 7.36
99-31+ 7.38 7.40 7.39 7.39 7.37 7.37 7.36
100-00 7.38 7.40 7.39 7.38 7.37 7.36 7.35
100-00+ 7.37 7.39 7.39 7.38 7.36 7.36 7.35
100-01 7.37 7.39 7.38 7.37 7.36 7.35 7.34
100-01+ 7.36 7.39 7.38 7.37 7.35 7.34 7.34
100-02 7.36 7.38 7.37 7.37 7.35 7.34 7.33
100-02+ 7.35 7.38 7.37 7.36 7.34 7.33 7.32
100-03 7.35 7.38 7.37 7.36 7.34 7.33 7.32
100-03+ 7.34 7.37 7.36 7.35 7.33 7.32 7.31
100-04 7.34 7.37 7.36 7.35 7.33 7.32 7.31
100-04+ 7.33 7.37 7.36 7.34 7.32 7.31 7.30
100-05 7.33 7.36 7.35 7.34 7.32 7.31 7.30
100-05+ 7.32 7.36 7.35 7.34 7.31 7.30 7.29
100-06 7.32 7.36 7.34 7.33 7.31 7.30 7.28
100-06+ 7.32 7.35 7.34 7.33 7.30 7.29 7.28
100-07 7.31 7.35 7.34 7.32 7.30 7.29 7.27
100-07+ 7.31 7.35 7.33 7.32 7.29 7.28 7.27
First Payment 3.708 5.208 4.625 4.125 3.375 3.125 2.875
Average Life 4.013 5.604 4.953 4.433 3.664 3.372 3.123
Last Payment 4.292 5.958 5.292 4.708 3.958 3.625 3.375
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $51,000,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $51,000,000.00 BOND A-5 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.68 7.68 7.68 7.68 7.67 7.67 7.67
99-24+ 7.67 7.68 7.68 7.67 7.67 7.67 7.67
99-25 7.67 7.67 7.67 7.67 7.67 7.66 7.66
99-25+ 7.67 7.67 7.67 7.67 7.66 7.66 7.66
99-26 7.66 7.67 7.67 7.66 7.66 7.66 7.65
99-26+ 7.66 7.67 7.66 7.66 7.65 7.65 7.65
99-27 7.65 7.66 7.66 7.66 7.65 7.65 7.64
99-27+ 7.65 7.66 7.66 7.65 7.65 7.64 7.64
99-28 7.65 7.66 7.65 7.65 7.64 7.64 7.63
99-28+ 7.64 7.65 7.65 7.65 7.64 7.63 7.63
99-29 7.64 7.65 7.65 7.64 7.63 7.63 7.62
99-29+ 7.64 7.65 7.64 7.64 7.63 7.62 7.62
99-30 7.63 7.65 7.64 7.64 7.63 7.62 7.61
99-30+ 7.63 7.64 7.64 7.63 7.62 7.62 7.61
99-31 7.62 7.64 7.64 7.63 7.62 7.61 7.61
99-31+ 7.62 7.64 7.63 7.63 7.61 7.61 7.60
100-00 7.62 7.63 7.63 7.62 7.61 7.60 7.60
100-00+ 7.61 7.63 7.63 7.62 7.60 7.60 7.59
100-01 7.61 7.63 7.62 7.62 7.60 7.59 7.59
100-01+ 7.61 7.63 7.62 7.61 7.60 7.59 7.58
100-02 7.60 7.62 7.62 7.61 7.59 7.58 7.58
100-02+ 7.60 7.62 7.61 7.61 7.59 7.58 7.57
100-03 7.59 7.62 7.61 7.60 7.58 7.58 7.57
100-03+ 7.59 7.62 7.61 7.60 7.58 7.57 7.56
100-04 7.59 7.61 7.60 7.60 7.58 7.57 7.56
100-04+ 7.58 7.61 7.60 7.59 7.57 7.56 7.55
100-05 7.58 7.61 7.60 7.59 7.57 7.56 7.55
100-05+ 7.58 7.60 7.60 7.59 7.56 7.55 7.54
100-06 7.57 7.60 7.59 7.58 7.56 7.55 7.54
100-06+ 7.57 7.60 7.59 7.58 7.56 7.54 7.53
100-07 7.56 7.60 7.59 7.58 7.55 7.54 7.53
100-07+ 7.56 7.59 7.58 7.57 7.55 7.54 7.52
First Payment 4.292 5.958 5.292 4.708 3.958 3.625 3.375
Average Life 5.254 7.444 6.595 5.941 4.640 4.220 3.905
Last Payment 6.708 9.458 8.458 7.625 5.708 4.875 4.542
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $104,898,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $104,898,000.00 BOND A-6 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
*********** TO CALL ************
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 7.94 7.94 7.94 7.94 7.94 7.94 7.94
99-24+ 7.94 7.94 7.94 7.94 7.94 7.94 7.94
99-25 7.94 7.94 7.94 7.94 7.94 7.93 7.93
99-25+ 7.93 7.94 7.94 7.94 7.93 7.93 7.93
99-26 7.93 7.93 7.93 7.93 7.93 7.93 7.93
99-26+ 7.93 7.93 7.93 7.93 7.93 7.93 7.92
99-27 7.93 7.93 7.93 7.93 7.93 7.92 7.92
99-27+ 7.93 7.93 7.93 7.93 7.92 7.92 7.92
99-28 7.92 7.93 7.93 7.92 7.92 7.92 7.92
99-28+ 7.92 7.93 7.92 7.92 7.92 7.92 7.91
99-29 7.92 7.92 7.92 7.92 7.92 7.91 7.91
99-29+ 7.92 7.92 7.92 7.92 7.91 7.91 7.91
99-30 7.91 7.92 7.92 7.92 7.91 7.91 7.90
99-30+ 7.91 7.92 7.92 7.91 7.91 7.91 7.90
99-31 7.91 7.92 7.91 7.91 7.91 7.90 7.90
99-31+ 7.91 7.91 7.91 7.91 7.90 7.90 7.90
100-00 7.91 7.91 7.91 7.91 7.90 7.90 7.89
100-00+ 7.90 7.91 7.91 7.91 7.90 7.90 7.89
100-01 7.90 7.91 7.91 7.90 7.90 7.89 7.89
100-01+ 7.90 7.91 7.90 7.90 7.90 7.89 7.89
100-02 7.90 7.91 7.90 7.90 7.89 7.89 7.88
100-02+ 7.89 7.90 7.90 7.90 7.89 7.89 7.88
100-03 7.89 7.90 7.90 7.90 7.89 7.88 7.88
100-03+ 7.89 7.90 7.90 7.89 7.89 7.88 7.87
100-04 7.89 7.90 7.89 7.89 7.88 7.88 7.87
100-04+ 7.89 7.90 7.89 7.89 7.88 7.88 7.87
100-05 7.88 7.89 7.89 7.89 7.88 7.87 7.87
100-05+ 7.88 7.89 7.89 7.89 7.88 7.87 7.86
100-06 7.88 7.89 7.89 7.88 7.87 7.87 7.86
100-06+ 7.88 7.89 7.88 7.88 7.87 7.87 7.86
100-07 7.87 7.89 7.88 7.88 7.87 7.86 7.86
100-07+ 7.87 7.88 7.88 7.88 7.87 7.86 7.85
First Payment 6.708 9.458 8.458 7.625 5.708 4.875 4.542
Average Life 11.116 14.713 13.386 12.259 9.970 8.938 8.010
Last Payment 13.625 17.458 16.042 14.792 12.542 11.625 10.792
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $35,091,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $35,091,000.00 BOND M-1 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
*********** TO CALL ************
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 8.23 8.24 8.24 8.24 8.23 8.23 8.23
99-24+ 8.23 8.23 8.23 8.23 8.23 8.23 8.23
99-25 8.23 8.23 8.23 8.23 8.23 8.23 8.23
99-25+ 8.23 8.23 8.23 8.23 8.23 8.23 8.23
99-26 8.22 8.23 8.23 8.23 8.22 8.22 8.22
99-26+ 8.22 8.23 8.23 8.22 8.22 8.22 8.22
99-27 8.22 8.22 8.22 8.22 8.22 8.22 8.22
99-27+ 8.22 8.22 8.22 8.22 8.22 8.22 8.22
99-28 8.22 8.22 8.22 8.22 8.21 8.21 8.21
99-28+ 8.21 8.22 8.22 8.21 8.21 8.21 8.21
99-29 8.21 8.22 8.21 8.21 8.21 8.21 8.21
99-29+ 8.21 8.21 8.21 8.21 8.21 8.21 8.20
99-30 8.21 8.21 8.21 8.21 8.20 8.20 8.20
99-30+ 8.20 8.21 8.21 8.21 8.20 8.20 8.20
99-31 8.20 8.21 8.21 8.20 8.20 8.20 8.20
99-31+ 8.20 8.21 8.20 8.20 8.20 8.20 8.19
100-00 8.20 8.20 8.20 8.20 8.19 8.19 8.19
100-00+ 8.19 8.20 8.20 8.20 8.19 8.19 8.19
100-01 8.19 8.20 8.20 8.19 8.19 8.19 8.19
100-01+ 8.19 8.20 8.19 8.19 8.19 8.19 8.18
100-02 8.19 8.20 8.19 8.19 8.18 8.18 8.18
100-02+ 8.18 8.19 8.19 8.19 8.18 8.18 8.18
100-03 8.18 8.19 8.19 8.18 8.18 8.18 8.18
100-03+ 8.18 8.19 8.19 8.18 8.18 8.18 8.17
100-04 8.18 8.19 8.18 8.18 8.17 8.17 8.17
100-04+ 8.17 8.19 8.18 8.18 8.17 8.17 8.17
100-05 8.17 8.18 8.18 8.18 8.17 8.17 8.17
100-05+ 8.17 8.18 8.18 8.17 8.17 8.17 8.16
100-06 8.17 8.18 8.18 8.17 8.16 8.16 8.16
100-06+ 8.16 8.18 8.17 8.17 8.16 8.16 8.16
100-07 8.16 8.18 8.17 8.17 8.16 8.16 8.15
100-07+ 8.16 8.17 8.17 8.16 8.16 8.15 8.15
First Payment 5.042 6.708 5.958 5.292 5.042 5.125 5.125
Average Life 10.063 13.092 11.884 10.799 9.557 9.120 8.720
Last Payment 13.625 17.458 16.042 14.792 12.542 11.625 10.792
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $23,394,000.00 DATED DATE: 08/01/99
COUPON: TBD bcms99b FIRST PAYMENT: 09/15/99
FACTOR: 1.0000000000 TOTAL CLASSES: 10
ORIGINAL BALANCE: $23,394,000.00 BOND M-2 BE-YIELD TABLE YIELD TABLE DATE: 08/31/99
PREPAYMENT SPEED
*********** TO CALL ************
</TABLE>
<TABLE>
<CAPTION>
PRICING SPEED
180.0% 120.00% 140.00% 160.00% 200.00% 220.00% 240.00%
PRICE MHP MHP MHP MHP MHP MHP MHP
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 8.63 8.64 8.64 8.64 8.63 8.63 8.63
99-24+ 8.63 8.63 8.63 8.63 8.63 8.63 8.63
99-25 8.63 8.63 8.63 8.63 8.63 8.63 8.63
99-25+ 8.63 8.63 8.63 8.63 8.63 8.63 8.63
99-26 8.62 8.63 8.63 8.63 8.62 8.62 8.62
99-26+ 8.62 8.63 8.62 8.62 8.62 8.62 8.62
99-27 8.62 8.62 8.62 8.62 8.62 8.62 8.62
99-27+ 8.62 8.62 8.62 8.62 8.62 8.62 8.61
99-28 8.61 8.62 8.62 8.62 8.61 8.61 8.61
99-28+ 8.61 8.62 8.62 8.61 8.61 8.61 8.61
99-29 8.61 8.62 8.61 8.61 8.61 8.61 8.61
99-29+ 8.61 8.61 8.61 8.61 8.61 8.60 8.60
99-30 8.60 8.61 8.61 8.61 8.60 8.60 8.60
99-30+ 8.60 8.61 8.61 8.60 8.60 8.60 8.60
99-31 8.60 8.61 8.60 8.60 8.60 8.60 8.60
99-31+ 8.60 8.61 8.60 8.60 8.60 8.59 8.59
100-00 8.60 8.60 8.60 8.60 8.59 8.59 8.59
100-00+ 8.59 8.60 8.60 8.60 8.59 8.59 8.59
100-01 8.59 8.60 8.60 8.59 8.59 8.59 8.59
100-01+ 8.59 8.60 8.59 8.59 8.59 8.58 8.58
100-02 8.59 8.59 8.59 8.59 8.58 8.58 8.58
100-02+ 8.58 8.59 8.59 8.59 8.58 8.58 8.58
100-03 8.58 8.59 8.59 8.58 8.58 8.58 8.57
100-03+ 8.58 8.59 8.58 8.58 8.58 8.57 8.57
100-04 8.58 8.59 8.58 8.58 8.57 8.57 8.57
100-04+ 8.57 8.58 8.58 8.58 8.57 8.57 8.57
100-05 8.57 8.58 8.58 8.57 8.57 8.57 8.56
100-05+ 8.57 8.58 8.58 8.57 8.57 8.56 8.56
100-06 8.57 8.58 8.57 8.57 8.56 8.56 8.56
100-06+ 8.56 8.58 8.57 8.57 8.56 8.56 8.56
100-07 8.56 8.57 8.57 8.56 8.56 8.56 8.55
100-07+ 8.56 8.57 8.57 8.56 8.56 8.55 8.55
First Payment 5.042 6.708 5.958 5.292 5.042 5.125 5.125
Average Life 10.063 13.092 11.884 10.799 9.557 9.120 8.720
Last Payment 13.625 17.458 16.042 14.792 12.542 11.625 10.792
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
- --------------------------------------------------------------------------------
- BCMS 1999-B
- Cut Off Date of Tape is 8/1/99 (Scheduled Balance Date)
- Fixed-rate MH contracts
- $467,867,888.45
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
Number of Loans: 11,612
Aggregate Unpaid Principal Balance: $467,867,888.45
Aggregate Original Principal Balance: $469,730,423.36
Weighted Average Gross Coupon: 10.165%
Gross Coupon Range: 5.500% - 15.750%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $40,291.76
Average Original Principal Balance: $40,452.15
Maximum Unpaid Principal Balance: $185,402.42
Minimum Unpaid Principal Balance: $598.46
Maximum Original Principal Balance: $185,402.42
Minimum Original Principal Balance: $9,319.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 313.136
Stated Rem Term Range: 67.000 - 360.000
Weighted Average Age (Original Term - Rem Term): 2.469
Age Range: 0.000 - 24.000
Weighted Average Original Term: 315.605
Original Term Range: 72.000 - 360.000
Weighted Average Original LTV: 87.672
Original LTV Range: 15.168% - 98.940%
- --------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
New 91.51% $428,155,553.59
Used 8.49% $39,712,334.86
Multi-section 63.12% $295,302,660.57
Single-section 36.88% $172,565,227.88
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO
HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED
FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD
NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS
HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT
VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE
SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN
THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS
OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
GEOGRAPHICAL DISTRIBUTION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alabama 960 35,944,956.54 7.68
Arizona 218 10,931,521.81 2.34
Arkansas 741 27,019,719.09 5.78
California 120 6,729,495.09 1.44
Colorado 49 2,230,917.54 0.48
Florida 978 45,004,366.69 9.62
Georgia 886 35,190,599.54 7.52
Idaho 9 521,845.81 0.11
Illinois 9 305,206.36 0.07
Iowa 11 350,220.40 0.07
Kansas 5 248,116.19 0.05
Kentucky 143 5,044,415.66 1.08
Louisiana 502 18,765,662.42 4.01
Maryland 1 55,884.19 0.01
Michigan 20 807,492.42 0.17
Mississippi 843 31,089,474.17 6.64
Missouri 235 8,292,230.60 1.77
Montana 17 664,246.14 0.14
Nebraska 1 34,827.00 0.01
Nevada 23 1,043,604.81 0.22
New Mexico 418 16,539,193.10 3.54
North Carolina 732 28,158,919.55 6.02
Ohio 41 1,352,355.26 0.29
Oklahoma 228 9,926,102.81 2.12
Oregon 7 427,913.26 0.09
Pennsylvania 32 955,482.78 0.20
South Carolina 993 38,170,162.95 8.16
South Dakota 3 123,740.54 0.03
Tennessee 560 21,763,630.59 4.65
Texas 2,694 115,086,609.65 24.60
Utah 4 208,135.66 0.04
Virginia 90 3,298,912.22 0.71
Washington 4 99,105.38 0.02
West Virginia 30 1,113,150.90 0.24
Wyoming 5 369,671.33 0.08
- --------------------------------------------------------------------------
Total............... 11,612 $ 467,867,888.45 100.00%
==========================================================================
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO
HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR
INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE
SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND
WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING,
WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING
ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT.
OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE
MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
ORIGINAL LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Original Number of Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
5,000 < Balance <= 10,000 9 85,913.24 0.02
10,000 < Balance <= 15,000 347 4,295,989.23 0.92
15,000 < Balance <= 20,000 457 8,039,287.53 1.72
20,000 < Balance <= 25,000 839 19,032,710.44 4.07
25,000 < Balance <= 30,000 1,467 40,529,530.57 8.66
30,000 < Balance <= 35,000 1,837 59,543,400.57 12.73
35,000 < Balance <= 40,000 1,573 58,561,917.87 12.52
40,000 < Balance <= 45,000 1,259 53,446,209.37 11.42
45,000 < Balance <= 50,000 989 46,810,979.77 10.01
50,000 < Balance <= 55,000 874 45,782,514.61 9.79
55,000 < Balance <= 60,000 652 37,305,929.06 7.97
60,000 < Balance <= 65,000 482 29,926,633.85 6.40
65,000 < Balance <= 70,000 274 18,336,806.57 3.92
70,000 < Balance <= 75,000 173 12,435,930.34 2.66
75,000 < Balance <= 80,000 125 9,584,662.83 2.05
80,000 < Balance <= 85,000 65 5,335,366.40 1.14
85,000 < Balance <= 90,000 62 5,412,511.28 1.16
90,000 < Balance <= 95,000 30 2,770,122.62 0.59
95,000 < Balance <= 100,000 31 2,969,949.29 0.63
100,000 < Balance <= 105,000 12 1,225,733.13 0.26
105,000 < Balance <= 110,000 16 1,607,413.33 0.34
110,000 < Balance <= 115,000 14 1,490,026.64 0.32
115,000 < Balance <= 120,000 7 811,389.83 0.17
120,000 < Balance <= 125,000 4 485,495.55 0.10
125,000 < Balance <= 130,000 2 252,083.16 0.05
130,000 < Balance <= 135,000 5 661,185.96 0.14
140,000 < Balance <= 145,000 1 140,700.14 0.03
145,000 < Balance <= 150,000 1 146,075.13 0.03
150,000 < Balance <= 200,000 5 841,420.14 0.18
- --------------------------------------------------------------------------
Total.................... 11,612 $467,867,888.45 100.00%
==========================================================================
</TABLE>
ORIGINAL LOAN-TO-VALUE RATIOS (1)
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Unpaid Aggregate
Loan-To-Value Number of Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
50% or less 32 756,908.62 0.16
51% - 55% 22 693,705.84 0.15
56% - 60% 27 1,001,747.57 0.21
61% - 65% 75 3,465,282.33 0.74
66% - 70% 151 8,334,305.55 1.78
71% - 75% 246 12,642,555.45 2.70
76% - 80% 679 28,937,240.14 6.18
81% - 85% 1,412 55,034,835.25 11.76
86% - 90% 6,301 241,359,852.25 51.59
91% - 95% 2,604 111,743,053.67 23.88
96% - 100% 63 3,898,401.78 0.83
- --------------------------------------------------------------------------
Total.................... 11,612 $467,867,888.45 100.00%
==========================================================================
</TABLE>
(1) Rounded to nearest 1%
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
Cut-off Date Contract Rate
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Unpaid Aggregate
Interest Rate Number of Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
5.000% < Gross Coupon <= 6.000% 2 85,417.45 0.02
6.000% < Gross Coupon <= 7.000% 39 3,504,624.44 0.75
7.000% < Gross Coupon <= 8.000% 448 29,424,425.35 6.29
8.000% < Gross Coupon <= 9.000% 2,052 107,318,546.57 22.94
9.000% < Gross Coupon <= 10.000% 1,713 74,383,840.00 15.90
10.000% < Gross Coupon <= 11.000% 3,101 124,423,239.49 26.59
11.000% < Gross Coupon <= 12.000% 2,313 77,364,174.71 16.54
12.000% < Gross Coupon <= 13.000% 1,525 41,580,939.38 8.89
13.000% < Gross Coupon <= 14.000% 281 6,926,526.81 1.48
14.000% < Gross Coupon <= 15.000% 136 2,830,293.30 0.60
15.000% < Gross Coupon <= 16.000% 2 25,860.95 0.01
- ----------------------------------------------------------------------------
Total.......... 11,612 $467,867,888.45 100.00%
============================================================================
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Year of Number of Principal Principal
Origination Loans Balance Balance
<S> <C> <C> <C>
1997 5 184,081.63 0.04
1998 448 20,447,156.86 4.37
1999 11,159 447,236,649.96 95.59
- --------------------------------------------------------------------------
Total................. 11,612 $467,867,888.45 100.00%
==========================================================================
</TABLE>
LAND SECURED
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
No 10,950 422,034,883.05 90.20
Yes 662 45,833,005.40 9.80
- --------------------------------------------------------------------------
Total.................. 11,612 $467,867,888.45 100.00%
==========================================================================
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
<PAGE>
REMAINING TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
0 - 120 months 380 5,865,029.82 1.25%
121 - 156 months 57 1,180,627.16 0.25%
157 - 180 months 742 16,819,031.34 3.59%
181 - 216 months 2 67,964.72 0.01%
217 - 240 months 2,829 91,164,697.38 19.49%
241 - 300 months 2,422 84,609,014.15 18.08%
301 - 360 months 5,180 268,161,523.88 57.32%
- -------------------------------------------------------------------
Total............ 11,612 467,867,888.45 100.00%
===================================================================
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
0 - 120 months 380 5,865,029.82 1.25%
121 - 156 months 57 1,180,627.16 0.25%
157 - 180 months 742 16,819,031.34 3.59%
181 - 216 months 2 67,964.72 0.01%
217 - 240 months 2,827 91,106,360.47 19.47%
241 - 300 months 2,424 84,667,351.06 18.10%
301 - 360 months 5,180 268,161,523.88 57.32%
- -------------------------------------------------------------------
Total............ 11,612 467,867,888.45 100.00%
===================================================================
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO
SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED
HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION
ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE
RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE
THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR
VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY
ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY
DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS,
THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS
SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS
TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL
PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS.
