<PAGE>
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 17, 1997
Advanta Automobile Receivables Trust 1997-2
----------------------------------------------------
(Exact name of registrant as specified in its charter)
- ---------------------------- ------------------ ------------------------
Delaware 333-19733 Application Pending
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
------------------------
c/o Advanta Auto Finance Corporation 19034
(Zip Code)
500 Office Center Drive, Suite 400,
Fort Washington, Pennsylvania
(Address of Principal Executive Offices)
Registrant's telephone number, including area code (215) 444-4200
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
- --------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events
In connection with the offering of Advanta Automobile Receivables
Trust 1997-2 Class A Asset-Backed Notes, Series 1997-2, described in a
Prospectus Supplement to be completed in connection with the issuance, certain
"Computational Materials" within the meanings of the May 20, 1994 Kidder,
Peabody No-Action Letter and the February 17, 1995 Public Securities Association
No-Action Letter were furnished to certain prospective investors (the "Related
Computational Materials").
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibit 99.1. Related Computational Materials (as defined in
Item 5 above).
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ADVANTA AUTOMOBILE RECEIVABLES TRUST 1997-2
By: Advanta Mortgage Conduit Services, Inc., as Sponsor
By: /s/ David Plante
-------------------
Name: David Plante
Title: President
Dated: December 17, 1997
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
99.1 Related Computational Materials (as 5
defined in Item 5 above).
<PAGE>
EXHIBIT 99.1
<PAGE>
Advanta Automobile Receivables Trust 1997-2
Approximate Class Sizes
[$20,000,000] [] Class A-1 Fixed Rate Notes
[$31,000,000] [] Class A-2 Fixed Rate Notes
[$29,000,000] [] Class A-3 Fixed Rate Notes
[$16,192,000] [] Class A-4 Fixed Rate Notes
Preliminary Marketing Materials
The information herein has been provided solely by PSI based on information with
respect to the auto loans provided by ADVANTA Auto Finance Corporation and its
affiliates ("ADVANTA"). Neither ADVANTA nor any of its affiliates makes any
representation as to the accuracy or completeness of the information herein. The
information herein is preliminary and will be superseded by the prospectus
supplement and by any other information subsequently filed with the Securities
and Exchange Commissions (SEC). 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 consummated 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.
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
Advanta Automobile Receivable Trust 1997-2
Preliminary Marketing Memo
Title of Securities: Advanta Automobile Receivables Trust 1997-2
Seller: Advanta Auto Receivables Corp. II
Sub-Servicer: LSI Financial Group
Master Servicer: Advanta Auto Finance Corporation
Indenture Trustee: Norwest Bank Minnesota, NA
Owner Trustee: Wilmington Trust Company
Note Insurer: Financial Security Assurance, Inc. ("FSA"). FSAs
claims-paying ability is rated "AAA" by Standard
& Poors and "Aaa" by Moodys.
Note Insurance The insurance policy of FSA guarantees the scheduled
Policy: payment of interest and principal for the Class A-1, A-2,
A-3 and A-4 Notes on each distribution date.
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------
Class A-1 Class A-2 Class A-3 Class A-4
<S> <C> <C> <C> <C>
Amount [20,000,000] [31,000,000] [29,000,000] [16,192,000]
Coupon [TBD] [TBD] [TBD] [TBD]
Approximate Price [TBD] [TBD] [TBD] [TBD]
Spread [TBD] [TBD] [TBD] [TBD]
Avg. Life (@1.7 ABS) to call [0.28] [1.00] [2.01] [2.90]
to maturity [0.28] [1.00] [2.01] [3.14]
Interest rate basis Act/360 30/360 30/360 30/360
Expected maturity to call [7/15/98] [6/15/99] [8/15/00] [12/15/00]
Stated Maturity [1/15/99] [6/15/00] [7/15/01] [3/15/05]
Rating (S&P/Moodys) [A-1+/P-1] [AAA/Aaa] [AAA/Aaa] [AAA/Aaa]
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
Advanta Automobile Receivable Trust 1997-2
Optional Redemption: The Class A-4 Notes, to the extent still outstanding,
may be redeemed in whole, but not in part, on any
Distribution Date on which the Seller or the Master
Servicer exercises its option to purchase the
Receivables, which, subject to certain requirements,
can occur after the pool balance declines to 10% or less
of the Original Pool Balance.
Cashflow priority: The Indenture Trustee will make the following
disbursements and transfers in the following order of
priority:
First: Servicing Fee;
Second: Owner and Indenture Trustee Fees;
Third: Accrued and unpaid interest (pro rata) to
Class A-1, A-2 A-3 and A-4 Notes;
Fourth: Monthly Principal Note distribution amount
until each Notes respective principal balance
is reduced to zero;
Fifth: To FSA for amounts owed under the Insurance
Policy;
Sixth: To the Spread Account, up to the specified
spread account requirement;
Seventh: Monthly Interest to the Certificates;
Eighth: Monthly Principal to the Certificates; and
Ninth: To the Seller, any remaining funds.
Noteholders Principal The total monthly principal payment to the Notes
Payment: will generally be equal to the decline in the aggregate
loan balance during the preceding Collection Period
multiplied by the Noteholders Percentage.
The Noteholders The Noteholders Percentage will be equal to [72.5%]
Percentage: until the Class A-4 Notes have been paid in full.
Principal Paydown: The Noteholders Principal Payment is allocated to the
Class A-1 Notes until the principal balance of the Class
A-1 Notes is reduced to zero.
Thereafter, the Noteholders Principal Payment is
allocated to the Class A-2 Notes until the principal
balance of the Class A-2 Notes is reduced to zero.
Thereafter, the Noteholders Principal Payment is
allocated to the Class A-3 Notes until the principal
balance of the Class A-3 Notes is reduced to zero.
Thereafter, the Noteholders Principal Payment is
allocated to the Class A-4 Notes until the principal
balance of the Class A-4 Notes is reduced to zero.
Thereafter, all principal payments are allocated to the
Certificates. (The Certificates are not offered hereby
and will be retained by the Seller).
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
Advanta Automobile Receivable Trust 1997-2
Credit Enhancement: Credit enhancement is provided by a combination of:
(1) Ongoing excess spread
(2) Spread account
(3) Subordination
(4) FSA guarantee
Spread Account: The spread account requirement has an initial deposit
of [4%] of the original principal balance of the auto
loans and maintains a level of [10%] of the current
balance of the auto loans. The spread account is subject
to a floor of [4%]of the initial principal balance of
the auto loans.
Pricing Date: [December 17, 1997].
Settlement Date: [December 23, 1997].
Distribution Dates: The fifteenth day of each month or, if such day is not a
business day, the next succeeding business day beginning
January [15]th.
Interest Accrual: Interest on the Class A-1 Notes will be calculated on
the basis of a 360 day year and the actual number of
days elapsed in the related interest period.
Interest on the Class A-2, A-3, and A-4 Notes will
be calculated on the basis of a 360 day year
consisting of twelve 30 day months.
Interest will accrue (in the case of the first
distribution date) from the Closing Date to, but
excluding, the following Distribution Date. For
subsequent Distribution Dates, interest will
accrue from the most recent Distribution Date, to
but excluding the following Distribution Date.
ERISA Considerations: The Class A-1, A-2, A-3 and A-4 Notes constitute
eligible investments for ERISA accounts. Investors
should consult their counsel with respect to the
consequences under ERISA and the Code of the Plans
acquisition and ownership of the Notes and Certificates.
Legal Investment: The Class A-1 Notes will be eligible securities for
purchase by money market funds, under Rule 2a-7 under
the Investment Company Act of 1940, as amended.
Form of Notes and Book-Entry Form, delivered through the facilities of
Certificates: DTC, Cedel,and Euroclear against payment in immediately
available funds.
For more information contact our desk (778-2741), Scott Corman (778-7461),
Brendan Keane (778-4231), Mike Mattera (778-4459), Katya Sverdlov (778-8038) or
John Mawe (778-1166)
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
Deal ID/CUSIP ADART972 Coupon N/A
Class A1 CUR Accr 0.00000 1st Pmt 01/15/98
Collateral (Real) Factor 1.000000000 on 12/23/97
N/GWAC (Orig) / (16.082/18.582)
WAM (Orig) (4.000) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
<TABLE>
<CAPTION>
BEY TABLE
ABS 1.70 ABS 0.50 ABS 1.00 ABS 1.50 ABS 2.00 ABS 2.50 ABS 3.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99-22+ 7.115 6.700 6.859 7.039 7.237 7.454 7.710
99-23 7.057 6.664 6.815 6.985 7.173 7.379 7.621
99-23+ 6.999 6.629 6.771 6.931 7.109 7.304 7.533
99-24 6.942 6.593 6.727 6.878 7.045 7.228 7.445
99-24+ 6.884 6.558 6.682 6.824 6.981 7.153 7.357
99-25 6.826 6.522 6.638 6.770 6.917 7.078 7.269
99-25+ 6.769 6.487 6.594 6.716 6.853 7.002 7.181
99-26 6.711 6.452 6.550 6.663 6.789 6.927 7.093
99-26+ 6.653 6.416 6.506 6.609 6.725 6.852 7.005
99-27 6.596 6.381 6.462 6.555 6.661 6.777 6.917
99-27+ 6.538 6.345 6.418 6.502 6.597 6.702 6.829
99-28 6.481 6.310 6.374 6.448 6.533 6.627 6.741
99-28+ 6.423 6.275 6.330 6.394 6.469 6.552 6.654
99-29 6.366 6.239 6.286 6.341 6.406 6.477 6.566
99-29+ 6.308 6.204 6.242 6.287 6.342 6.402 6.478
99-30 6.251 6.169 6.198 6.234 6.278 6.327 6.391
99-30+ 6.193 6.133 6.155 6.180 6.214 6.252 6.303
99-31 6.136 6.098 6.111 6.127 6.151 6.177 6.216
99-31+ 6.079 6.063 6.067 6.073 6.087 6.103 6.129
100-00 6.022 6.028 6.023 6.020 6.024 6.028 6.041
100-00+ 5.964 5.992 5.979 5.966 5.960 5.953 5.954
100-01 5.907 5.957 5.935 5.913 5.897 5.879 5.867
100-01+ 5.850 5.922 5.892 5.860 5.833 5.804 5.780
100-02 5.793 5.887 5.848 5.806 5.770 5.730 5.693
100-02+ 5.735 5.852 5.804 5.753 5.706 5.655 5.606
100-03 5.678 5.816 5.760 5.700 5.643 5.581 5.519
100-03+ 5.621 5.781 5.717 5.646 5.579 5.506 5.432
100-04 5.564 5.746 5.673 5.593 5.516 5.432 5.345
100-04+ 5.507 5.711 5.629 5.540 5.453 5.358 5.258
100-05 5.450 5.676 5.586 5.487 5.390 5.283 5.171
100-05+ 5.393 5.641 5.542 5.434 5.326 5.209 5.085
100-06 5.336 5.606 5.498 5.380 5.263 5.135 4.998
100-06+ 5.279 5.571 5.455 5.327 5.200 5.061 4.911
100-07 5.222 5.536 5.411 5.274 5.137 4.987 4.825
100-07+ 5.165 5.500 5.368 5.221 5.074 4.912 4.738
100-08 5.108 5.465 5.324 5.168 5.011 4.838 4.652
100-08+ 5.052 5.430 5.281 5.115 4.948 4.764 4.565
100-09 4.995 5.395 5.237 5.062 4.885 4.690 4.479
100-09+ 4.938 5.360 5.194 5.009 4.822 4.617 4.393
Avg. Life 0.283 0.464 0.372 0.304 0.255 0.217 0.185
1st Pmt. 0.061 0.061 0.061 0.061 0.061 0.061 0.061
Last Pmt. 0.561 0.894 0.728 0.561 0.478 0.394 0.394
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
Class A2 CUR Accr 0.00000 1st Pmt 01/15/98
Collateral (Real) Factor 1.000000000 on 12/23/97
N/GWAC (Orig) / (16.082/18.582)
WAM (Orig) (4.000) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
<TABLE>
<CAPTION>
BEY TABLE
ABS 1.70 ABS 0.50 ABS 1.00 ABS 1.50 ABS 2.00 ABS 2.50 ABS 3.00
<S> <C> <C> <C> <C> <C> <C> <C>
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22+ 6.515 6.405 6.444 6.493 6.550 6.616 6.689
99-23 6.498 6.394 6.431 6.477 6.532 6.594 6.663
99-23+ 6.481 6.383 6.418 6.462 6.513 6.572 6.637
99-24 6.465 6.372 6.405 6.446 6.494 6.550 6.611
99-24+ 6.448 6.361 6.392 6.431 6.476 6.528 6.586
99-25 6.431 6.351 6.380 6.415 6.457 6.506 6.560
99-25+ 6.415 6.340 6.367 6.400 6.439 6.484 6.534
99-26 6.398 6.329 6.354 6.384 6.420 6.462 6.508
99-26+ 6.382 6.318 6.341 6.369 6.402 6.440 6.482
99-27 6.365 6.307 6.328 6.353 6.383 6.418 6.457
99-27+ 6.348 6.296 6.315 6.338 6.365 6.396 6.431
99-28 6.332 6.285 6.302 6.322 6.347 6.374 6.405
99-28+ 6.315 6.275 6.289 6.307 6.328 6.352 6.379
99-29 6.298 6.264 6.276 6.291 6.310 6.330 6.353
99-29+ 6.282 6.253 6.263 6.276 6.291 6.308 6.328
99-30 6.265 6.242 6.250 6.261 6.273 6.286 6.302
99-30+ 6.249 6.231 6.237 6.245 6.254 6.265 6.276
99-31 6.232 6.220 6.225 6.230 6.236 6.243 6.250
99-31+ 6.215 6.210 6.212 6.214 6.217 6.221 6.225
100-00 6.199 6.199 6.199 6.199 6.199 6.199 6.199
100-00+ 6.182 6.188 6.186 6.183 6.180 6.177 6.173
100-01 6.166 6.177 6.173 6.168 6.162 6.155 6.148
100-01+ 6.149 6.166 6.160 6.153 6.144 6.133 6.122
100-02 6.133 6.155 6.147 6.137 6.125 6.111 6.096
100-02+ 6.116 6.145 6.134 6.122 6.107 6.090 6.070
100-03 6.099 6.134 6.121 6.106 6.088 6.068 6.045
100-03+ 6.083 6.123 6.109 6.091 6.070 6.046 6.019
100-04 6.066 6.112 6.096 6.075 6.052 6.024 5.993
100-04+ 6.050 6.101 6.083 6.060 6.033 6.002 5.968
100-05 6.033 6.091 6.070 6.045 6.015 5.980 5.942
100-05+ 6.017 6.080 6.057 6.029 5.996 5.959 5.917
100-06 6.000 6.069 6.044 6.014 5.978 5.937 5.891
100-06+ 5.984 6.058 6.031 5.998 5.960 5.915 5.865
100-07 5.967 6.047 6.019 5.983 5.941 5.893 5.840
100-07+ 5.951 6.037 6.006 5.968 5.923 5.871 5.814
100-08 5.934 6.026 5.993 5.952 5.904 5.850 5.788
100-08+ 5.917 6.015 5.980 5.937 5.886 5.828 5.763
100-09 5.901 6.004 5.967 5.922 5.868 5.806 5.737
100-09+ 5.884 5.993 5.954 5.906 5.849 5.784 5.712
Avg. Life 1.001 1.560 1.300 1.078 0.897 0.753 0.638
1st Pmt. 0.561 0.894 0.728 0.561 0.478 0.394 0.394
Last Pmt. 1.478 2.228 1.894 1.561 1.311 1.144 0.978
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
Deal ID/CUSIP ADART972 Coupon N/A
Class A3 CUR Accr 0.00000 1st Pmt 01/15/98
Collateral (Real) Factor 1.000000000 on 12/23/97
N/GWAC (Orig) / (16.082/18.582)
WAM (Orig) (4.000) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
<TABLE>
<CAPTION>
BEY TABLE
ABS 1.70 ABS 0.50 ABS 1.00 ABS 1.50 ABS 2.00 ABS 2.50 ABS 3.00
<S> <C> <C> <C> <C> <C> <C> <C>
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22+ 6.402 6.359 6.372 6.392 6.419 6.453 6.492
99-23 6.393 6.353 6.365 6.384 6.410 6.442 6.479
99-23+ 6.385 6.346 6.358 6.376 6.400 6.430 6.466
99-24 6.376 6.340 6.351 6.368 6.391 6.419 6.453
99-24+ 6.368 6.334 6.344 6.360 6.381 6.408 6.439
99-25 6.359 6.327 6.337 6.352 6.372 6.397 6.426
99-25+ 6.350 6.321 6.330 6.344 6.362 6.385 6.413
99-26 6.342 6.315 6.323 6.336 6.353 6.374 6.399
99-26+ 6.333 6.309 6.316 6.328 6.343 6.363 6.386
99-27 6.325 6.302 6.309 6.320 6.334 6.352 6.373
99-27+ 6.316 6.296 6.302 6.312 6.325 6.341 6.359
99-28 6.308 6.290 6.295 6.304 6.315 6.329 6.346
99-28+ 6.299 6.284 6.288 6.296 6.306 6.318 6.333
99-29 6.291 6.277 6.281 6.288 6.296 6.307 6.319
99-29+ 6.282 6.271 6.274 6.280 6.287 6.296 6.306
99-30 6.274 6.265 6.267 6.272 6.277 6.285 6.293
99-30+ 6.265 6.258 6.261 6.264 6.268 6.273 6.280
99-31 6.257 6.252 6.254 6.256 6.259 6.262 6.266
99-31+ 6.248 6.246 6.247 6.248 6.249 6.251 6.253
100-00 6.240 6.240 6.240 6.240 6.240 6.240 6.240
100-00+ 6.231 6.233 6.233 6.232 6.230 6.229 6.227
100-01 6.223 6.227 6.226 6.224 6.221 6.217 6.213
100-01+ 6.214 6.221 6.219 6.216 6.212 6.206 6.200
100-02 6.206 6.215 6.212 6.208 6.202 6.195 6.187
100-02+ 6.197 6.208 6.205 6.200 6.193 6.184 6.174
100-03 6.189 6.202 6.198 6.192 6.183 6.173 6.160
100-03+ 6.180 6.196 6.191 6.184 6.174 6.162 6.147
100-04 6.172 6.190 6.184 6.176 6.165 6.150 6.134
100-04+ 6.163 6.183 6.177 6.168 6.155 6.139 6.121
100-05 6.155 6.177 6.170 6.160 6.146 6.128 6.107
100-05+ 6.146 6.171 6.163 6.152 6.136 6.117 6.094
100-06 6.138 6.165 6.156 6.144 6.127 6.106 6.081
100-06+ 6.129 6.158 6.150 6.136 6.118 6.095 6.068
100-07 6.121 6.152 6.143 6.128 6.108 6.083 6.054
100-07+ 6.112 6.146 6.136 6.120 6.099 6.072 6.041
100-08 6.104 6.140 6.129 6.112 6.089 6.061 6.028
100-08+ 6.095 6.133 6.122 6.104 6.080 6.050 6.015
100-09 6.087 6.127 6.115 6.096 6.071 6.039 6.001
100-09+ 6.078 6.121 6.108 6.088 6.061 6.028 5.988
Avg. Life 2.011 2.798 2.500 2.153 1.806 1.506 1.260
1st Pmt. 1.478 2.228 1.894 1.561 1.311 1.144 0.978
Last Pmt. 2.644 3.394 3.144 2.811 2.394 1.978 1.644
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
Class A4 CUR Accr 0.00000 1st Pmt 01/15/98
Collateral (Real) Factor 1.000000000 on 12/23/97
N/GWAC (Orig) / (16.082/18.582)
WAM (Orig) (4.000) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
<TABLE>
<CAPTION>
BEY TABLE (TO CALL)
ABS 1.70 ABS 0.50 ABS 1.00 ABS 1.50 ABS 2.00 ABS 2.50 ABS 3.00
<S> <C> <C> <C> <C> <C> <C> <C>
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22+ 6.422 6.401 6.406 6.416 6.434 6.458 6.489
99-23 6.416 6.396 6.401 6.410 6.428 6.450 6.479
99-23+ 6.409 6.391 6.395 6.404 6.421 6.442 6.470
99-24 6.403 6.386 6.390 6.398 6.414 6.434 6.460
99-24+ 6.397 6.381 6.385 6.393 6.407 6.426 6.451
99-25 6.391 6.376 6.380 6.387 6.401 6.418 6.441
99-25+ 6.385 6.371 6.374 6.381 6.394 6.410 6.431
99-26 6.379 6.366 6.369 6.375 6.387 6.402 6.422
99-26+ 6.373 6.361 6.364 6.370 6.380 6.394 6.412
99-27 6.367 6.356 6.359 6.364 6.374 6.386 6.402
99-27+ 6.361 6.351 6.354 6.358 6.367 6.378 6.393
99-28 6.355 6.346 6.348 6.352 6.360 6.370 6.383
99-28+ 6.349 6.341 6.343 6.347 6.353 6.362 6.374
99-29 6.343 6.336 6.338 6.341 6.347 6.354 6.364
99-29+ 6.337 6.331 6.333 6.335 6.340 6.346 6.354
99-30 6.331 6.326 6.327 6.329 6.333 6.338 6.345
99-30+ 6.325 6.321 6.322 6.324 6.327 6.330 6.335
99-31 6.318 6.316 6.317 6.318 6.320 6.322 6.326
99-31+ 6.312 6.311 6.312 6.312 6.313 6.314 6.316
100-00 6.306 6.306 6.306 6.306 6.306 6.306 6.306
100-00+ 6.300 6.301 6.301 6.301 6.300 6.298 6.297
100-01 6.294 6.296 6.296 6.295 6.293 6.291 6.287
100-01+ 6.288 6.291 6.291 6.289 6.286 6.283 6.278
100-02 6.282 6.286 6.285 6.283 6.280 6.275 6.268
100-02+ 6.276 6.281 6.280 6.278 6.273 6.267 6.259
100-03 6.270 6.276 6.275 6.272 6.266 6.259 6.249
100-03+ 6.264 6.271 6.270 6.266 6.259 6.251 6.239
100-04 6.258 6.266 6.265 6.260 6.253 6.243 6.230
100-04+ 6.252 6.261 6.259 6.255 6.246 6.235 6.220
100-05 6.246 6.256 6.254 6.249 6.239 6.227 6.211
100-05+ 6.240 6.251 6.249 6.243 6.233 6.219 6.201
100-06 6.234 6.246 6.244 6.238 6.226 6.211 6.191
100-06+ 6.228 6.242 6.238 6.232 6.219 6.203 6.182
100-07 6.222 6.237 6.233 6.226 6.212 6.195 6.172
100-07+ 6.216 6.232 6.228 6.220 6.206 6.187 6.163
100-08 6.210 6.227 6.223 6.215 6.199 6.180 6.153
100-08+ 6.204 6.222 6.218 6.209 6.192 6.172 6.144
100-09 6.198 6.217 6.212 6.203 6.186 6.164 6.134
100-09+ 6.192 6.212 6.207 6.197 6.179 6.156 6.125
Avg. Life 2.904 3.590 3.410 3.074 2.591 2.164 1.769
1st Pmt. 2.644 3.394 3.144 2.811 2.394 1.978 1.644
Last Pmt. 12/15/00 08/15/01 06/15/01 02/15/01 08/15/00 03/15/00 10/15/99
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
- --------------------------------------------------------------------------------
- ADVANTA AUTO
- Cut Off Date of Tape is 11/28/97
- ALL LOANS (NEW AND USED)
- $132,678,749.48
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 11,483
Aggregate Unpaid Principal Balance: $132,678,749.48
Aggregate Original Principal Balance: $150,610,742.50
Weighted Average Gross Coupon: 18.582%
Gross Coupon Range: 8.150% - 31.170%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $11,554.36
Average Original Principal Balance: $13,115.98
Maximum Unpaid Principal Balance: $29,999.01
Minimum Unpaid Principal Balance: $650.88
Maximum Original Principal Balance: $29,999.01
Minimum Original Principal Balance: $3,030.41
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 47.880
Stated Rem Term Range: 8.000 - 65.000
Weighted Avg. Amortized Rem. Term: 47.986
Amortized Rem Term Range: 2.200 - 65.256
Weighted Average Age (First Pay thru Last Pay): 8.467
Age Range: 0.000 - 40.000
Weighted Average Original Term: 56.347
Original Term Range: 24.000 - 72.000
- --------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
- --------------------------------------------------------------------------------
- ADVANTA AUTO
- Cut Off Date of Tape is 11/28/97
- NEW LOANS ONLY
- $24,344,311.94
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 1,646
Aggregate Unpaid Principal Balance: $24,344,311.94
Aggregate Original Principal Balance: $26,539,617.28
Weighted Average Gross Coupon: 17.262%
Gross Coupon Range: 8.150% - 24.000%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $14,789.98
Average Original Principal Balance: $16,123.70
Maximum Unpaid Principal Balance: $29,999.01
Minimum Unpaid Principal Balance: $650.88
Maximum Original Principal Balance: $29,999.01
Minimum Original Principal Balance: $3,410.40
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 53.534
Stated Rem Term Range: 14.000 - 63.000
Weighted Avg. Amortized Rem. Term: 53.641
Amortized Rem Term Range: 2.200 - 63.354
Weighted Average Age (First Pay thru Last Pay): 7.148
Age Range: 0.000 - 40.000
Weighted Average Original Term: 60.682
Original Term Range: 36.000 - 72.000
- --------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
- --------------------------------------------------------------------------------
- ADVANTA AUTO
- Cut Off Date of Tape is 11/28/97
- USED LOANS ONLY
- $108,334,437.54
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 9,837
Aggregate Unpaid Principal Balance: $108,334,437.54
Aggregate Original Principal Balance: $124,071,125.22
Weighted Average Gross Coupon: 18.878%
Gross Coupon Range: 8.850% - 31.170%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $11,012.95
Average Original Principal Balance: $12,612.70
Maximum Unpaid Principal Balance: $29,311.88
Minimum Unpaid Principal Balance: $927.48
Maximum Original Principal Balance: $29,849.82
Minimum Original Principal Balance: $3,030.41
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 46.609
Stated Rem Term Range: 8.000 - 65.000
Weighted Avg. Amortized Rem. Term: 46.715
Amortized Rem Term Range: 3.111 - 65.256
Weighted Average Age (First Pay thru Last Pay): 8.763
Age Range: 0.000 - 40.000
Weighted Average Original Term: 55.372
Original Term Range: 24.000 - 72.000
- --------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
<CAPTION>
GROSS COUPON
- --------------------------------------------------------------------------------------------------------------------
Total
Gross # Percent of % Current
Coupon Loan Loan Count Pool Balance
<S> <C> <C> <C> <C>
8.00% = Gross Coupon less than or equal to 9.999% 25 0.22% .23 $309,710.86
10.00% = Gross Coupon less than or equal to 11.999% 85 0.74% .64 $853,391.00
12.00% = Gross Coupon less than or equal to 13.999% 371 3.23% 3.36 $4,459,277.33
14.00% = Gross Coupon less than or equal to 15.999% 565 4.92% 5.67 $7,526,623.85
16.00% = Gross Coupon less than or equal to 17.999% 2,166 18.86% 20.55 $27,262,080.43
18.00% = Gross Coupon less than or equal to 19.999% 5,022 43.73% 44.41 $58,921,717.71
20.00% = Gross Coupon less than or equal to 21.999% 2,118 18.44% 17.59 $23,339,468.44
22.00% = Gross Coupon less than or equal to 23.999% 580 5.05% 4.58 $6,072,251.00
24.00% = Gross Coupon less than or equal to 25.999% 514 4.48% 2.78 $3,685,743.95
26.00% = Gross Coupon less than or equal to 27.999% 12 0.10% .07 $87,433.70
28.00% = Gross Coupon less than or equal to 29.999% 24 0.21% .12 $155,849.86
30.00% = Gross Coupon less than or equal to 31.999% 1 0.01% .00 $5,201.35
- --------------------------------------------------------------------------------------------------------------------
Total..... 11,483 100.00% 100.00% $132,678,749.48
====================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
-------------------------------------------------------------------------------------
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
State Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
Florida 2,187 19.05% 20,963,271.98 15.80
New Jersey 1,672 14.56% 19,190,856.92 14.46
Georgia 1,376 11.98% 16,411,258.82 12.37
Texas 1,205 10.49% 15,840,475.39 11.94
Tennessee 532 4.63% 6,639,740.09 5.00
Louisiana 485 4.22% 6,522,317.78 4.92
Pennsylvania 423 3.68% 4,936,026.13 3.72
North Carolina 393 3.42% 4,224,328.78 3.18
Delaware 351 3.06% 4,215,226.09 3.18
Ohio 343 2.99% 3,922,019.50 2.96
Other 2516 21.92% 29,813,227.89 22.47
- -------------------------------------------------------------------------------------
Total................... 11,483 100.00% 132,678,749.48 100.00%
=====================================================================================
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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>
<CAPTION>
REMAINING TERM
- ----------------------------------------------------------------------------------------------------------------------
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Rem Term Loan Loan Count Balance Balance
<S> <C> <C> <C> <C>
6 less than Rem Term less than or equal to 12 45 0.39 167,770.43 0.13
12 less than Rem Term less than or equal to 18 247 2.15 1,214,218.03 0.92
18 less than Rem Term less than or equal to 24 335 2.92 1,889,874.01 1.42
24 less than Rem Term less than or equal to 30 620 5.40 4,354,816.54 3.28
30 less than Rem Term less than or equal to 36 1,127 9.81 9,473,707.50 7.14
36 less than Rem Term less than or equal to 42 1,530 13.32 15,114,913.56 11.39
42 less than Rem Term less than or equal to 48 2,423 21.10 28,559,415.97 21.53
48 less than Rem Term less than or equal to 54 2,673 23.28 35,488,907.94 26.75
54 less than Rem Term less than or equal to 60 2,422 21.09 35,464,426.61 26.73
60 less than Rem Term less than or equal to 66 61 0.53 950,698.89 0.72
- ----------------------------------------------------------------------------------------------------------------------
Total.................... 11,483 100.00% 132,678,749.48 100.00%
======================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Distribution of Outstanding Loan Balances as of the Cut-Off Date
- --------------------------------------------------------------------------------------------------------------------------------
Aggregate Unpaid % of Aggr
Percent of Loan Balance Unpaid Loan
Range of Number of Number As of the Balance as of
Loan Balances Loans of Loans Cut-Off Date the Cut-Off Date
<S> <C> <C> <C> <C>
0 less than Balance less than or equal to 4,999.99 419 3.65 1,713,240.75 1.29
5,000 less than Balance less than or equal to 9,999.99 3,877 33.76 30,872,248.31 23.27
10,000 less than Balance less than or equal to 14,999.99 5,156 44.90 63,268,124.88 47.69
15,000 less than Balance less than or equal to 19,999.99 1,602 13.95 27,116,621.95 20.44
20,000 less than Balance less than or equal to 24,999.99 362 3.15 7,931,298.64 5.98
25,000 less than Balance less than or equal to 29,999.99 67 0.58 1,777,214.95 1.34
- --------------------------------------------------------------------------------------------------------------------------------
Total.................... 11,483 100.00% 132,678,749.48 100.00%
================================================================================================================================
</TABLE>
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION 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 AND ACCOMPANYING 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.
