RESIDENTIAL ASSET FUNDING CORP
8-K/A, 1999-11-23
ASSET-BACKED SECURITIES
Previous: CABLEVISION SYSTEMS CORP /NY, S-3/A, 1999-11-23
Next: COBALT NETWORKS INC, S-8, 1999-11-23



- - --------------------------------------------------------------------------------


                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 8-K/A

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) November 23, 1999

                     Residential Asset Funding Corporation.
- - --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)



   North Carolina                       333-81721                 56-2064715
   --------------                       ---------                 ----------
(State or Other Jurisdiction of   (Commission File Number)    (I.R.S. Employer
       Incorporation)                                       Identification No.)

         301 South College Street, TW-06
            Charlotte, North Carolina                             28202-6001
            -------------------------                             ----------
     (Address of Principal Executive                              (Zip Code)
               Offices)

        Registrant's telephone number, including area code (704) 374-4868
                                                           ---------------------

                                    No Change
- - --------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)



- - --------------------------------------------------------------------------------
<PAGE>
         Item 5.     Other Events
                     ------------


                  In connection with the offering of RBMG Funding Co. Mortgage
Loan Trust 1999-2, Asset Backed Notes, Series 1999-2 described in the related
Prospectus Supplement, 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).



                                       2
<PAGE>
                                   SIGNATURES


                  Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this Report to
be signed on its behalf by the undersigned thereunto duly authorized.


                              RESIDENTIAL ASSET FUNDING CORPORATION
                              as  Sponsor  and on behalf of RBMG  Funding Co.
                              Mortgage  Loan Trust 1999-2

                              Registrant



                              By: /s/Shanker Merchant
                                  -------------------
                                  Name:   Shanker Merchant
                                  Title:  Managing Director




Dated:  November 23, 1999


                                       3
<PAGE>
                                  EXHIBIT INDEX
                                  -------------




Exhibit No.       Description
- - -----------       -----------
99.1              Related Computational Materials (as defined in Item 5 above).


                                                                    EXHIBIT 99.1

                             COMPUTATIONAL MATERIALS
                                11/18/99 8:00 AM


                   RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2
                           $125,000,000 (APPROXIMATE)

            $85,000,000 CLASS A-1, ASSET BACKED NOTES, SERIES 1999-2
            $40,000,000 CLASS A-2, ASSET BACKED NOTES, SERIES 1999-2


The attached Computational Materials (the "Computational Materials") are
privileged and confidential and intended for use by the addressee only. The
Computational Materials are furnished to you solely by First Union Securities,
Inc. (the "Underwriter") and not by the issuer of the notes identified above
(the "Notes") or any other party. The Computational Materials are based upon
information made available to the Underwriter. Neither the Underwriter, the
issuer of the Notes, nor any other party makes any representation to the
accuracy or completeness of the information therein. The information herein is
preliminary, and will be superseded by the applicable prospectus supplement and
by any other information subsequently filed with the Securities and Exchange
Commission. The information herein may not be provided to any third party other
than the addressee's legal, tax, financial and/or accounting advisors for the
purpose of evaluating such information.

No assurance can be given as to the accuracy, appropriateness or completeness of
the Computational Materials in any particular context; or as to whether the
Computational Materials reflect future performance. The Computational Materials
should not be construed as either a prediction or as legal, tax, and financial
or accounting advice.

Any yields or weighted average lives shown in the Computational Materials are
based on prepayment and other assumptions. Actual experience may dramatically
affect such yields or weighted average lives. The principal amount and
designation of any security described in the Computational Materials are subject
to change prior to issuance.

Although a registration statement (including the prospectus) relating to the
Notes has been filed with the Securities and Exchange Commission and is
effective, the final prospectus supplement relating to the Notes has not been
filed with the Securities and Exchange Commission. This communication shall not
constitute an offer to sell or a solicitation of an offer to buy nor shall there
be any sale of the Offered Notes in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state. Prospective purchasers are referred to the
final prospectus and prospectus supplement relating to the Offered Notes for
definitive terms of the Offered Notes and the collateral.

Please be advised that the Notes may not be appropriate for all investors.
Potential investors must be willing to assume, among other things, market price
volatility, prepayments, yield curve and interest rate risks. Investors should
fully consider the risk of an investment in the Notes.

If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.


                               [FIRST UNION LOGO]
                          FIRST UNION SECURITIES, INC.


- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 2
- - --------------------------------------------------------------------------------
SUMMARY OF TERMS -
- - ------------------

                 $85,000,000 CLASS A-1, Asset Backed Notes, Series 1999-2 (the
                 "Class A-1 Notes")
                 $40,000,000 CLASS A-2, Asset Backed Notes, Series 1999-2 (the
                 "Class A-2 Notes")

ISSUER:                 RBMG Funding Co. Mortgage Loan Trust 1999-2.

COLLATERAL:             Adjustable rate and fixed rate mortgage loans.

SELLER:                 RBMG Asset Management Company, a subsidiary of Meritage
                        Mortgage Corporation or "Meritage," which is a 100%
                        owned subsidiary of Resource Bancshares Mortgage Group,
                        Inc.

SERVICER:               RBMG, Inc.

SUB-SERVICER:           Ocwen Federal Bank FSB.

SECURITIES OFFERED:
<TABLE>
<CAPTION>
<S>                                        <C>                             <C>
  SECURITIES                       CLASS A-1                       CLASS A-2
  ----------                       ---------                       ---------

  Amount:                          $85,000,000                     $40,000,000

  Security Type:                   Floating-rate                   Floating-rate

  Cut-Off Date:                    November 1, 1999                November 1, 1999

  Index:                           One month LIBOR                 One month LIBOR

  Prepayment Assumptions (PPA):    100%  PPA equals                100% PPA equals
                                   27% CPR for Adjustable Rate     27% CPR for Adjustable Rate
                                   Pool                            Pool
                                   25% HEP for Fixed Rate Pool     25% HEP for Fixed Rate Pool

  Average Life to Call:            2.679 years                     2.658 years
  Average Life to Maturity:        2.946 years                     2.919 years

  Expected Call Date:              12/25/06                        12/25/06
  Expected Maturity Date:          01/25/16                        02/25/16

  Expected Coupon:                 One month LIBOR + TBD           One month LIBOR + TBD

  Stated Maturity Date:            12/25/30                        12/25/30

  Payment Date:                    25th of each month              25th of each month
  Payment Delay:                   Zero                            Zero

  Dated Date:                      Settlement Date                 Settlement Date

  Day Count:                       Actual/360                      Actual/360

  Pricing Date:                    TBD                             TBD

  Settlement Date (Expected)       November 30, 1999               November 30, 1999

  First Payment Date               December 27, 1999               December 27, 1999

  Ratings (S&P/Moody's)            AAA/Aaa                         AAA/Aaa
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 3
- - --------------------------------------------------------------------------------


DESCRIPTION OF THE NOTES:      The Class A-1 Notes and the Class A-2 Notes
                               (the "Notes") will be secured by the assets
                               of the Trust created by the Indenture. The
                               assets of the Trust will consist primarily
                               of (i) a pool of two groups (each a "Group)
                               of fixed rate and adjustable rate mortgage
                               loans (the "Mortgage Loans"); (ii) all
                               payments in respect of principal and
                               interest on the Mortgage Loans (other than
                               any principal or interest payments due on or
                               prior to the Cut-off Date); (iii) the
                               Issuer's rights under the Sponsor Sale
                               Agreement and the Servicing Agreement; (iv)
                               the Issuer's rights under the Sponsor Sale
                               Agreement and the Servicing Agreement; (v)
                               the rights of the Indenture Trustee under
                               the Insurance Policy; and (vi) certain other
                               property.

                               Although the Trust will hold an Interest
                               Rate Cap Agreement, any payments received
                               under the cap agreement are not available to
                               increase the Available Funds Cap Rate on the
                               Notes, or to "uncap" the Notes. The Interest
                               Rate Cap Agreement is to meet Ambac's credit
                               enhancement requirement for the transaction
                               only.

                               Two classes (each, a "Class") of Notes will
                               be issued. The Class A-1 Notes will be
                               secured by Mortgage Loans in Group I ("the
                               Group I Mortgage Loans") and the Class A-2
                               Notes will be secured by the Group II
                               Mortgage Loans ("the Group II Mortgage
                               Loans"). Payments on the Class A-1 Notes
                               will be made generally from Available Funds
                               for Group I and payments on the Class A-2
                               Notes will be made generally from Available
                               Funds for Group II.

SERVICING FEE:                 44 basis points per annum.

INDENTURE TRUSTEE:             Banker's Trust Company

INDENTURE TRUSTEE FEE:         1.50 basis points per annum.

OWNER TRUSTEE:                 Wilmington Trust Company, a Delaware Banking
                               corporation.

DENOMINATIONS:                 Minimum denominations of $1,000 and in
                               integral multiples thereof.

FORM OF NOTES:                 Book-Entry Form, delivered through the
                               facilities of DTC, Cedel, and Euroclear
                               against payment in immediately available
                               funds.


RECORD DATE:                   Last business day preceding the Payment Date.

NOTE INSURER:                  AMBAC Assurance Corporation ("Ambac"), rated
                               AAA/Aaa/AAA by S&P, Moody's and Fitch.

NOTE INSURANCE POLICY:         Timely payment of interest and ultimate
                               payment of principal on the Notes will be
                               guaranteed by AMBAC.

CREDIT ENHANCEMENT:            (a)  Excess servicing cash flows

                               (b)  Overcollateralization

                               (c)  Note Insurance Policy

                               (d) Interest Rate Cap Agreement

- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 4
- - --------------------------------------------------------------------------------

PAYMENTS ON THE NOTES:        Payments on each Class of Notes will be made on
                              each Payment Date to each Noteholder of record as
                              of the last Business Day preceding such Payment
                              Date or, with respect to Definitive Notes, as of
                              the last Business Day of the month preceding the
                              month in which such Payment Date occurs.

                              On each Payment Date, each Class of Notes,
                              as of the related Record Date, will be
                              entitled to payments in respect of principal
                              and interest from Available Funds for such
                              Payment Date, together with any payments
                              received under the Insurance Policy.

DUE PERIOD:                   With respect to each Class of Notes and any
                              Payment Date, the period commencing on the second
                              day of the calendar month preceding the calendar
                              month in which such Payment Date occurs and ending
                              on the first day of the calendar month in which
                              such Payment Date occurs.

COLLECTION PERIOD:            With respect to each Class of Notes and any
                              Payment Date, the calendar month preceding
                              the month in which such Payment Date occurs.

PAYMENTS AHEAD:               Any payment of one or more scheduled monthly
                              payments remitted by a mortgagor in excess
                              of the scheduled monthly payment during the
                              related Due Period.

AVAILABLE FUNDS:              With respect to each Group of Mortgage Loans
                              and any Payment Date, The Available Funds
                              will generally consist of the aggregate of
                              the following amounts:

                              (i)   the sum of (a) all scheduled payments of
                                    principal and interest received with respect
                                    to the Mortgage Loans and due during the
                                    related Due Period and (b) all unscheduled
                                    principal payments or recoveries on the
                                    Mortgage Loans, including principal
                                    prepayments, received during the related
                                    Collection Period, minus (w) amounts
                                    received with respect to payments due on or
                                    prior to the applicable Cut-off Date, (x)
                                    the Administrative Fee Amount payable with
                                    respect to such Payment Date, (y) Payments
                                    Ahead and (z) reimbursements for certain P&I
                                    Advances and Servicing Advances made with
                                    respect to the Mortgage Loans and certain
                                    other amounts for which the Indenture
                                    Trustee, the Servicer and the Issuer are
                                    permitted to be reimbursed;

                              (ii)  the amount of any P&I Advances and
                                    Compensating Interest Payments made by the
                                    Servicer for such Payment Date, any amounts
                                    deposited in the Note Account in respect of
                                    the repurchase, release, removal or
                                    substitution of Mortgage Loans during the
                                    related Collection Period or amounts
                                    deposited in the Note Account in connection
                                    with the redemption of the Notes;

                              (iii) the amount of any payments received
                                    for such Payment Date under the Interest
                                    Rate Cap Agreement held by the Indenture
                                    Trustee.

ADMINISTRATIVE FEE AMOUNT:          With respect to each Group of Mortgage Loans
                                    and any Payment Date, the sum of the
                                    Servicing Fee, the Indenture Trustee Fee,
                                    and the Note Insurer Premium.


- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 5
- - --------------------------------------------------------------------------------

INTEREST CARRY-FORWARD:         (a) If, on any Payment Date, the Available
                                    Funds Cap Rate (as defined below) for the
                                    related Class of Notes limits the payment of
                                    the full interest rate on the related Class,
                                    the amount of any such shortfall will be
                                    carried forward and be due and payable to
                                    the Noteholder of the related Class on the
                                    following Payment Date and shall accrue
                                    interest at the note interest rate until
                                    paid (the "Available Funds Cap Carry Forward
                                    Amount") .

                                (b) The payment of this Available Funds Cap
                                    Carry Forward Amount would be made in future
                                    periods from the excess cash flows.

                                (c) The Note Insurer does not cover the
                                    Available Funds Cap Carry Forward Amount.

AVAILABLE FUNDS CAP RATE:        The Available Funds Cap Rate with respect to
                                 each Class of Notes for any payment date is
                                 a rate per annum equal to the fraction,
                                 expressed as a percentage, the numerator of
                                 which is (i) an amount equal to (A) 1/12 of
                                 the aggregate scheduled principal balance of
                                 the then outstanding Mortgage Loans and REO
                                 properties in the related Group times the
                                 weighted average of the Expense Adjusted
                                 Coupon Rates on the then outstanding
                                 Mortgage Loans and REO properties in such
                                 Group minus (B) the amount of the Note
                                 Insurer premium for such payment date
                                 allocable to such Group, and the denominator
                                 of which is (ii) an amount equal to (A) the
                                 then outstanding aggregate Note Balance
                                 multiplied by (B) the actual number of days
                                 elapsed in the related interest period
                                 divided by 360. Payments received by the
                                 Indenture Trustee under the Interest Rate
                                 Cap Agreement do not increase the Available
                                 Funds Cap Rate.

                                 "Note Balance" with respect to a Class will
                                 equal as of any Payment Date, the Original
                                 Note Balance as of the date of issuance of
                                 the Notes less all related Monthly Principal
                                 and Excess Cash paid to the respective
                                 Noteholders on previous Payment Dates.

                                 The Expense Adjusted Coupon Rate on any
                                 Mortgage Loan is equal to the then
                                 applicable coupon rate minus the sum of (i)
                                 the Minimum Spread, (ii) the Servicing Fee
                                 Rate, and (iii) the Indenture Trustee Fee.
                                 For any Payment Date occurring from the
                                 Closing Date through and including the
                                 twelfth Payment Date, the Minimum Spread is
                                 equal to 0.00% per annum. For any Payment
                                 Date occurring after the twelfth Payment
                                 Date the Minimum Spread is equal to 0.50%
                                 per annum. For any Payment Date for so long
                                 as the Servicer is the servicer, the
                                 Servicing Fee Rate is equal to 0.44% per
                                 annum; PROVIDED, HOWEVER, that the Servicing
                                 Fee Rate may increase up to 0.50% per annum
                                 if it is necessary to appoint a successor
                                 Servicer or a successor Sub-Servicer.

PAYMENTS OF PRINCIPAL:           On each Payment Date, the Noteholders of a
                                 Class of Notes will be entitled to payments
                                 of Monthly Principal in reduction of the
                                 Note Balance.

                                 MONTHLY PRINCIPAL
                                 The Monthly Principal with respect to each
                                 Class of Notes and for any Payment Date will
                                 be equal to the lesser of (a) the excess of
                                 related Available Funds over the amounts
                                 described in clauses (i), (ii) and (iii) of
                                 the definition of Excess Cash below, and (b)
                                 the aggregate of all scheduled payments of
                                 principal received or advanced with respect
                                 to the Mortgage Loans in the related Group
                                 and due during the related Due Period and
                                 all other amounts collected, received

- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 6
- - --------------------------------------------------------------------------------

                                    or otherwise recovered in respect of
                                    principal on such Mortgage Loans during or
                                    in respect of the related Collection Period,
                                    not including Payments Ahead, subject to
                                    reduction for any Overcollateralization
                                    Surplus with respect to such Class and the
                                    related Payment Date.

PAYMENTS OF EXCESS CASH:            With respect to each Class of Notes and each
                                    Payment Date on which the
                                    Overcollateralization Amount for the Notes
                                    is less than the Required
                                    Overcollateralization Amount for such
                                    Payment Date, Excess Cash derived from
                                    Available Funds, if any, will be paid on the
                                    related Class of Notes in reduction of the
                                    Note Balance, up to the amount necessary for
                                    the related Overcollateralization Amount to
                                    equal the applicable Required
                                    Overcollateralization Amount

                                    "Excess Cash" with respect to a Group on any
                                    Payment Date will be equal to Available
                                    Funds for such Group and Payment Date,
                                    reduced by the sum of (i) any amounts
                                    payable to the Note Insurer for Insured
                                    Payments with respect to either Group paid
                                    on prior Payment Dates and not yet
                                    reimbursed and for any unpaid Note Insurer
                                    Premiums for such Group on prior Payment
                                    Dates (in each case with interest thereon at
                                    the Late Payment Rate as defined and set
                                    forth in the Insurance Agreement), (ii) the
                                    Note Interest for the related Note and
                                    Payment Date (and to the extent not covered
                                    by Available Funds for the other Group, such
                                    amounts with respect to the other Group),
                                    (iii) any amounts payable for any
                                    Overcollateralization Deficit for the other
                                    Class; and (iv) the Monthly Principal for
                                    the related Class and Payment Date.

                                    The Insurance Policy does not cover the
                                    Available Funds Cap Carry Forward Amount,
                                    Prepayment Interest Shortfalls or shortfalls
                                    in interest due to the application of the
                                    Relief Act; the payment of such amounts may
                                    be funded only from (a) any excess interest
                                    resulting from the Available Funds Cap Rate
                                    being in excess of the applicable Interest
                                    Rate on future Payment Dates and (b) any
                                    Excess Cash for either Group that would
                                    otherwise be paid to the holder(s) of the
                                    Residual Interest.

                                    Any Excess Cash remaining after making
                                    required payments on each Class of Notes and
                                    to the Note Insurer on any Payment Date as
                                    described herein will be released to the
                                    holder(s) of the Residual Interest on such
                                    Payment Date, free from the lien of the
                                    Indenture.

OPTIONAL REDEMPTION:                Each Class of Notes may be redeemed, in full
                                    but not in part, at the option of the
                                    Servicer or the Note Insurer, on or after
                                    the Payment Date on which the combined
                                    principal balance of the Notes has declined
                                    to less than 10% of the outstanding Note
                                    Balance as of the Settlement Date.

COUPON STEP-UP:                     If the Class A-1 Notes are not redeemed
                                    pursuant to the Optional Redemption, the
                                    coupon on the Notes will be set at the
                                    lesser of (a) one month LIBOR plus [xx]
                                    basis points and (b) the related Available
                                    Funds Cap Rate.

                                    If the Class A-2 Notes are not redeemed
                                    pursuant to the Optional Redemption, the
                                    coupon on the Notes will be set at the
                                    lesser of (a) one month LIBOR plus [xx]
                                    basis points and (b) the related Available
                                    Funds Cap Rate.

INTEREST PERIOD:                    Interest will accrue on each of the Notes
                                    from each Payment Date to and including the
                                    day preceding the next Payment Date. For the
                                    first Payment Date,

- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 7
- - --------------------------------------------------------------------------------

                              interest will accrue from and including the
                              closing date to, but not including the first
                              Payment Date.

COMPENSATING INTEREST
PAYMENTS:                     With respect to any Mortgage Loan in each Group as
                              to which a prepayment in whole or in part was
                              received during the related Collection Period, the
                              Servicer will be required to remit to the
                              Indenture Trustee, up to the amount otherwise
                              payable to the Servicer as its servicing
                              compensation for the related Payment Date, an
                              amount generally calculated to cover Prepayment
                              Interest Shortfalls to ensure that a full month's
                              interest on each such Mortgage Loan is available
                              for payment to the related Noteholders on the
                              applicable Payment Date. Compensating Interest
                              Payments are not reimbursable to the Servicer. The
                              Note Insurer is not required to cover any
                              Prepayment Interest Shortfalls.

LEGAL INVESTMENT
CONSIDERATIONS:               The Notes are SMMEA eligible securities.

ERISA CONSIDERATIONS:         The Issuer believes that the Notes are ERISA
                              eligible, subject to individual Plan account
                              restrictions. Accordingly, any Plan fiduciary
                              considering whether to purchase any Notes on
                              behalf of a Plan should consult with its counsel
                              prior to purchase of such Notes.

TAXATION:                     The Notes will be treated as debt obligations of
                              the Issuer. No REMIC election will be made.

NOTE RATINGS:                 AAA/Aaa by S&P and Moody's

                                    WEIGHTED AVERAGE LIFE (WAL) AND
                                          PAYMENT WINDOWS TABLE
<TABLE>
<CAPTION>
          ----------------------------------------------------------------------------------------------
          TO CALL (10%)
<S>                               <C>        <C>         <C>         <C>          <C>          <C>
                 PPA*             0          50          75          100          125          150
          CLASS A1 NOTE
          WAL (in years)          20.424       5.496       3.653        2.679       2.075         1.661
          FIRST PAY             12/27/99    12/27/99    12/27/99    12/27/99     12/27/99      12/27/99
          LAST PAY              11/25/28   04/25/14     07/25/09     12/25/06    05/25/05     04/25/04


          CLASS A2 NOTE
          WAL (in years)          20.626       5.466       3.630        2.658       2.057         1.643
          FIRST PAY             12/27/99    12/27/99    12/27/99    12/27/99     12/27/99      12/27/99
          LAST PAY              11/25/28   04/25/14     07/25/09     12/25/06    05/25/05     04/25/04


          TO MATURITY
                 PPA*             0          50          75          100          125          150
          CLASS A1 NOTE
          WAL (in years)          20.464       5.925       4.003        2.946       2.281         1.824
          FIRST PAY             12/27/99    12/27/99    12/27/99    12/27/99     12/27/99      12/27/99
          LAST PAY              09/25/29    03/25/27    04/25/21     01/25/16    09/25/12      03/25/10
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 8
- - --------------------------------------------------------------------------------

<TABLE>
<CAPTION>

          CLASS A2 NOTE
<S>                               <C>          <C>         <C>          <C>         <C>           <C>
          WAL (in years)          20.667       5.903       3.976        2.919       2.256         1.801
          FIRST PAY             12/27/99    12/27/99    12/27/99    12/27/99     12/27/99      12/27/99
          LAST PAY              10/25/29    03/25/27    05/25/21     02/25/16    08/25/12      02/25/10
          ----------------------------------------------------------------------------------------------

          *100 PERCENT PREPAYMENT ASSUMPTION (PPA) REPRESENTS 27% CPR FOR THE
          ARM COLLATERAL, AND 25% HEP FOR THE FIXED COLLATERAL. 25% HEP EQUALS
          2.5% CPR IN MONTH 1 OF THE LIFE OF A LOAN, INCREASING EACH MONTH BY
          2.5% CPR UNTIL MONTH 10 AND REMAINING CONSTANT AT 25% CPR THEREAFTER.
</TABLE>











- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 9
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                       CLASS A-1 AVAILABLE FUNDS CAP RATE*
   TO CALL (10%)
      PERIOD           DATE             AFC RATE                PERIOD          DATE           AFC RATE
      ------           ----             --------                ------          ----           --------

<S>     <C>         <C>   <C>             <C>                     <C>        <C>  <C>           <C>
        1           12/27/99              11.02%                  44         7/25/03            12.22%
        2            1/25/00               8.92%                  45         8/25/03            11.82%
        3            2/25/00               8.95%                  46         9/25/03            11.82%
        4            3/25/00               9.60%                  47        10/25/03            12.22%
        5            4/25/00               9.01%                  48        11/25/03            11.82%
        6            5/25/00               9.35%                  49        12/25/03            12.21%
        7            6/25/00               9.08%                  50         1/25/04            11.82%
        8            7/25/00               9.42%                  51         2/25/04            11.82%
        9            8/25/00               9.15%                  52         3/25/04            12.63%
       10            9/25/00               9.18%                  53         4/25/04            11.82%
       11           10/25/00               9.53%                  54         5/25/04            12.21%
       12           11/25/00               9.26%                  55         6/25/04            11.82%
       13           12/25/00               9.09%                  56         7/25/04            12.21%
       14            1/25/01               8.83%                  57         8/25/04            11.82%
       15            2/25/01               8.87%                  58         9/25/04            11.82%
       16            3/25/01               9.87%                  59        10/25/04            12.21%
       17            4/25/01               8.96%                  60        11/25/04            11.82%
       18            5/25/01               9.31%                  61        12/25/04            12.21%
       19            6/25/01               9.06%                  62         1/25/05            11.81%
       20            7/25/01               9.41%                  63         2/25/05            11.81%
       21            8/25/01               9.16%                  64         3/25/05            13.08%
       22            9/25/01               9.22%                  65         4/25/05            11.81%
       23           10/25/01              10.28%                  66         5/25/05            12.21%
       24           11/25/01               9.97%                  67         6/25/05            11.81%
       25           12/25/01              10.52%                  68         7/25/05            12.20%
       26            1/25/02              10.21%                  69         8/25/05            11.81%
       27            2/25/02              10.24%                  70         9/25/05            11.81%
       28            3/25/02              11.37%                  71        10/25/05            12.20%
       29            4/25/02              10.30%                  72        11/25/05            11.81%
       30            5/25/02              10.68%                  73        12/25/05            12.20%
       31            6/25/02              10.37%                  74         1/25/06            11.81%
       32            7/25/02              10.75%                  75         2/25/06            11.81%
       33            8/25/02              10.44%                  76         3/25/06            13.07%
       34            9/25/02              10.48%                  77         4/25/06            11.81%
       35           10/25/02              12.17%                  78         5/25/06            12.20%
       36           11/25/02              11.82%                  79         6/25/06            11.81%
       37           12/25/02              12.61%                  80         7/25/06            12.20%
       38            1/25/03              11.88%                  81         8/25/06            11.80%
       39            2/25/03              11.83%                  82         9/25/06            11.80%
       40            3/25/03              13.09%                  83        10/25/06            12.20%
       41            4/25/03              11.83%                  84        11/25/06            11.80%
       42            5/25/03              12.22%                  85        12/25/06            12.20%
       43            6/25/03              11.82%
*Derived assuming six-month LIBOR and one-year CMT remain constant at 6.015% and
5.550%, respectively using 100% of the PPA.
</TABLE>

FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 10
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                      CLASS A-2 AVAILABLE FUNDS CAP RATE*
    TO CALL (10%)
       PERIOD           DATE             AFC RATE                       PERIOD           DATE          AFC RATE
       ------           ----             --------                       ------           ----          --------

<S>       <C>               <C>   <C>             <C>                            <C>        <C>  <C>          <C>
          1                 12/27/99              11.05%                         44         7/25/03           12.30%
          2                  1/25/00               8.94%                         45         8/25/03           11.91%
          3                  2/25/00               8.99%                         46         9/25/03           11.91%
          4                  3/25/00               9.64%                         47        10/25/03           12.30%
          5                  4/25/00               9.05%                         48        11/25/03           11.90%
          6                  5/25/00               9.38%                         49        12/25/03           12.30%
          7                  6/25/00               9.11%                         50         1/25/04           11.90%
          8                  7/25/00               9.45%                         51         2/25/04           11.90%
          9                  8/25/00               9.20%                         52         3/25/04           12.72%
         10                  9/25/00               9.24%                         53         4/25/04           11.90%
         11                 10/25/00               9.58%                         54         5/25/04           12.30%
         12                 11/25/00               9.31%                         55         6/25/04           11.90%
         13                 12/25/00               9.14%                         56         7/25/04           12.30%
         14                  1/25/01               8.89%                         57         8/25/04           11.90%
         15                  2/25/01               8.93%                         58         9/25/04           11.90%
         16                  3/25/01               9.94%                         59        10/25/04           12.30%
         17                  4/25/01               9.02%                         60        11/25/04           11.90%
         18                  5/25/01               9.37%                         61        12/25/04           12.30%
         19                  6/25/01               9.12%                         62         1/25/05           11.90%
         20                  7/25/01               9.47%                         63         2/25/05           11.90%
         21                  8/25/01               9.22%                         64         3/25/05           13.17%
         22                  9/25/01               9.95%                         65         4/25/05           11.90%
         23                 10/25/01              10.32%                         66         5/25/05           12.29%
         24                 11/25/01              10.02%                         67         6/25/05           11.90%
         25                 12/25/01              10.64%                         68         7/25/05           12.29%
         26                  1/25/02              10.33%                         69         8/25/05           11.90%
         27                  2/25/02              10.36%                         70         9/25/05           11.90%
         28                  3/25/02              11.50%                         71        10/25/05           12.29%
         29                  4/25/02              10.42%                         72        11/25/05           11.90%
         30                  5/25/02              10.80%                         73        12/25/05           12.29%
         31                  6/25/02              10.49%                         74         1/25/06           11.89%
         32                  7/25/02              10.87%                         75         2/25/06           11.89%
         33                  8/25/02              10.57%                         76         3/25/06           13.17%
         34                  9/25/02              10.60%                         77         4/25/06           11.89%
         35                 10/25/02              12.18%                         78         5/25/06           12.29%
         36                 11/25/02              11.83%                         79         6/25/06           11.89%
         37                 12/25/02              12.72%                         80         7/25/06           12.29%
         38                  1/25/03              11.98%                         81         8/25/06           11.89%
         39                  2/25/03              11.91%                         82         9/25/06           11.89%
         40                  3/25/03              13.18%                         83        10/25/06           12.29%
         41                  4/25/03              11.91%                         84        11/25/06           11.89%
         42                  5/25/03              12.30%                         85        12/25/06           12.29%
         43                  6/25/03              11.91%
*Derived assuming six-month LIBOR and one-year CMT remain constant at 6.015% and
5.550%, respectively using 100% of the PPA.
</TABLE>
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 11
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                       CLASS A-1 AVAILABLE FUNDS CAP RATE*
   TO CALL (10%)
      PERIOD           DATE             AFC RATE                       PERIOD          DATE           AFC RATE
      ------           ----             --------                       ------          ----           --------

<S>     <C>         <C>   <C>             <C>                            <C>        <C>  <C>           <C>
        1           12/27/99              11.02%                         44         7/25/03            14.68%
        2            1/25/00               8.92%                         45         8/25/03            14.21%
        3            2/25/00               8.95%                         46         9/25/03            14.21%
        4            3/25/00               9.60%                         47        10/25/03            15.38%
        5            4/25/00               9.02%                         48        11/25/03            14.89%
        6            5/25/00               9.35%                         49        12/25/03            15.57%
        7            6/25/00               9.08%                         50         1/25/04            15.06%
        8            7/25/00               9.42%                         51         2/25/04            15.06%
        9            8/25/00               9.15%                         52         3/25/04            16.10%
       10            9/25/00               9.19%                         53         4/25/04            15.51%
       11           10/25/00               9.53%                         54         5/25/04            16.03%
       12           11/25/00               9.26%                         55         6/25/04            15.63%
       13           12/25/00               9.09%                         56         7/25/04            16.15%
       14            1/25/01               8.84%                         57         8/25/04            15.63%
       15            2/25/01               8.88%                         58         9/25/04            15.62%
       16            3/25/01               9.88%                         59        10/25/04            16.14%
       17            4/25/01               8.97%                         60        11/25/04            15.62%
       18            5/25/01               9.32%                         61        12/25/04            16.14%
       19            6/25/01               9.07%                         62         1/25/05            15.62%
       20            7/25/01               9.43%                         63         2/25/05            15.62%
       21            8/25/01               9.18%                         64         3/25/05            17.29%
       22            9/25/01               9.24%                         65         4/25/05            15.61%
       23           10/25/01              10.34%                         66         5/25/05            16.13%
       24           11/25/01              10.04%                         67         6/25/05            15.61%
       25           12/25/01              10.60%                         68         7/25/05            16.13%
       26            1/25/02              10.29%                         69         8/25/05            15.61%
       27            2/25/02              10.32%                         70         9/25/05            15.61%
       28            3/25/02              11.47%                         71        10/25/05            16.12%
       29            4/25/02              10.76%                         72        11/25/05            15.60%
       30            5/25/02              11.16%                         73        12/25/05            16.12%
       31            6/25/02              10.93%                         74         1/25/06            15.60%
       32            7/25/02              11.33%                         75         2/25/06            15.60%
       33            8/25/02              11.01%                         76         3/25/06            17.27%
       34            9/25/02              11.05%                         77         4/25/06            15.60%
       35           10/25/02              13.31%                         78         5/25/06            16.11%
       36           11/25/02              12.92%                         79         6/25/06            15.59%
       37           12/25/02              13.89%                         80         7/25/06            16.11%
       38            1/25/03              13.09%                         81         8/25/06            15.59%
       39            2/25/03              13.03%                         82         9/25/06            15.59%
       40            3/25/03              14.43%                         83        10/25/06            16.11%
       41            4/25/03              13.96%                         84        11/25/06            15.59%
       42            5/25/03              14.43%                         85        12/25/06            16.10%
       43            6/25/03              14.21%
*Derived assuming six-month LIBOR and one-year CMT increase to a level beyond
the highest maximum attainable rate on the underlying adjustable rate mortgage
loans using 100% of the PPA.
</TABLE>
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 12
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                      CLASS A-2 AVAILABLE FUNDS CAP RATE*
    TO CALL (10%)
       PERIOD           DATE             AFC RATE                       PERIOD           DATE          AFC RATE
       ------           ----             --------                       ------           ----          --------

<S>       <C>          <C>   <C>             <C>                            <C>        <C>  <C>          <C>
          1            12/27/99              11.05%                         44         7/25/03           15.10%
          2             1/25/00               8.94%                         45         8/25/03           14.62%
          3             2/25/00               8.99%                         46         9/25/03           14.62%
          4             3/25/00               9.64%                         47        10/25/03           15.78%
          5             4/25/00               9.05%                         48        11/25/03           15.27%
          6             5/25/00               9.38%                         49        12/25/03           16.03%
          7             6/25/00               9.11%                         50         1/25/04           15.51%
          8             7/25/00               9.45%                         51         2/25/04           15.51%
          9             8/25/00               9.21%                         52         3/25/04           16.58%
         10             9/25/00               9.24%                         53         4/25/04           15.95%
         11            10/25/00               9.58%                         54         5/25/04           16.48%
         12            11/25/00               9.31%                         55         6/25/04           16.11%
         13            12/25/00               9.14%                         56         7/25/04           16.64%
         14             1/25/01               8.89%                         57         8/25/04           16.11%
         15             2/25/01               8.95%                         58         9/25/04           16.10%
         16             3/25/01               9.96%                         59        10/25/04           16.64%
         17             4/25/01               9.04%                         60        11/25/04           16.10%
         18             5/25/01               9.39%                         61        12/25/04           16.64%
         19             6/25/01               9.14%                         62         1/25/05           16.10%
         20             7/25/01               9.50%                         63         2/25/05           16.10%
         21             8/25/01               9.27%                         64         3/25/05           17.82%
         22             9/25/01              10.07%                         65         4/25/05           16.10%
         23            10/25/01              10.44%                         66         5/25/05           16.63%
         24            11/25/01              10.13%                         67         6/25/05           16.10%
         25            12/25/01              10.79%                         68         7/25/05           16.63%
         26             1/25/02              10.47%                         69         8/25/05           16.09%
         27             2/25/02              10.51%                         70         9/25/05           16.09%
         28             3/25/02              12.09%                         71        10/25/05           16.63%
         29             4/25/02              10.96%                         72        11/25/05           16.09%
         30             5/25/02              11.36%                         73        12/25/05           16.63%
         31             6/25/02              11.17%                         74         1/25/06           16.09%
         32             7/25/02              11.58%                         75         2/25/06           16.09%
         33             8/25/02              11.25%                         76         3/25/06           17.81%
         34             9/25/02              11.68%                         77         4/25/06           16.09%
         35            10/25/02              13.50%                         78         5/25/06           16.62%
         36            11/25/02              13.11%                         79         6/25/06           16.09%
         37            12/25/02              14.27%                         80         7/25/06           16.62%
         38             1/25/03              13.45%                         81         8/25/06           16.08%
         39             2/25/03              13.37%                         82         9/25/06           16.08%
         40             3/25/03              15.08%                         83        10/25/06           16.62%
         41             4/25/03              14.28%                         84        11/25/06           16.08%
         42             5/25/03              14.75%                         85        12/25/06           16.62%
         43             6/25/03              14.61%
*Derived assuming six-month LIBOR and one-year CMT increase to a level beyond
the highest maximum attainable rate on the underlying adjustable rate mortgage
loans using 100% of the PPA.
</TABLE>
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 13
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
            Summary of Characteristics of the Group I Mortgage Loans


<S>                                                                                  <C>
   Number of Mortgage Loans                                                          642

   Principal Balance
                Aggregate Principal Balance                               $69,955,390.15
                Average Principal Balance                                    $108,964.78
                Range of Principal Balances                   $15,194.43 - $239,769.12

   Coupon Rates
                Weighted Average Coupon Rate                                      9.871%
                Range of Coupon Rates                                   7.625% - 13.990%

   Remaining Term to Maturity
                Weighted Average Remaining Term to Maturity                342.65 months
                Range of Remaining Term to Maturity                     174 - 359 months

   Loan-to-Value Ratio
                Weighted Average Loan-to-Value Ratio                              78.53%
                Range of Loan-to-Value Ratios                            24.89% - 97.00%

   Percentage of First Lien Mortgage Loans                                       100.00%
</TABLE>
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 14
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                      Summary of Characteristics of the Group II Mortgage Loans
<S>                                                                                         <C>
Number of Mortgage Loans                                                                    279

Principal Balance
              Aggregate Principal Balance                                        $30,276,432.22
              Average Principal Balance                                             $108,517.68
              Range of Principal Balances                           $11,994.09 - $422,403.11

Coupon Rates
              Weighted Average Coupon Rate                                               9.870%
              Range of Coupon Rates                                            7.625% - 13.750%

Remaining Term to Maturity
              Weighted Average Remaining Term to Maturity                         346.71 months
              Range of Remaining Term to Maturity                              173 - 359 months

Loan-to-Value Ratio
              Weighted Average Loan-to-Value Ratio                                       77.56%
              Range of Loan-to-Value Ratios                                     11.03% - 96.50%

Percentage of First Lien Mortgage Loans                                                 100.00%
</TABLE>

FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 15
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                          Group I Adjustable Rate Loans

                                                                         All Adjustable Rate Loans
                                                                    ----------------------------------
<S>                                                                                      <C>
Number of Group I Adjustable Rate Loans                                                  490

Percentage of All Group I Mortgage Loans                                              76.32%
(by number of loans)

Aggregate Principal Balance                                                   $58,072,273.11

Percentage of All Group I Mortgage Loans                                              83.01%
(by aggregate principal balance)

Principal Balance of Mortgage Loans as of the Cut-Off Date

              Average                                                            $118,514.84
              Range                                                 $22,664.38 - $239,769.12

Coupon Rates

              Weighted Average                                                        9.715%
              Range                                                         7.625% - 12.990%

Remaining Term to Maturity
(in months)

              Weighted Average                                                        357.67
              Range                                                                317 - 359

Loan-to-Value Ratio at Origination

              Weighted Average                                                        78.55%
              Range                                                          24.89% - 97.00%

</TABLE>
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 16
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                            Group I Fixed Rate Loans

                                                                               All Fixed Rate Loans
                                                                         ----------------------------------

<S>                                                                                        <C>
Number of Group I Fixed Rate Loans                                                         152

Percentage of All Group I Mortgage Loans                                                23.68%
(by number of loans)

Aggregate Principal Balance                                                     $11,883,117.04

Percentage of All Group I Mortgage Loans                                                16.99%
(by aggregate principal balance)

Principal Balance of Mortgage Loans as of the Cut-Off Date

              Average                                                               $78,178.40
              Range                                                   $15,194.43 - $211,526.40

Coupon Rates

              Weighted Average                                                         10.632%
              Range                                                           8.990% - 13.990%

Remaining Term to Maturity
(in months)

              Weighted Average                                                          269.28
              Range                                                                  174 - 359

Loan-to-Value Ratio at Origination

              Weighted Average                                                          78.40%
              Range                                                            30.68% - 90.00%

</TABLE>

FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 17
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                 MORTGAGE RATES OF THE GROUP I FIXED RATE LOANS

                                                                                            Percentage of Group I
                                                                                             Fixed Rate Loans by
                                       Number of Fixed Rate                                       Aggregate
 Range of Mortgage Rates (%)                  Loans          Aggregate Principal Balance     Principal Balance
 ---------------------------                  -----          ---------------------------     -----------------
<S>       <C>                                     <C>          <C>                                  <C>
 8.501 -  9.000                                   2            $       156,469.59                   1.32 %
 9.001 -  9.500                                   8                    980,879.10                   8.25
 9.501 - 10.000                                  17                  1,629,696.34                  13.71
10.001 - 10.500                                  45                  3,868,576.05                  32.56
10.501 - 11.000                                  30                  2,065,667.90                  17.38
11.001 - 11.500                                  20                  1,345,955.80                  11.33
11.501 - 12.000                                  13                    841,908.23                   7.08
12.001 - 12.500                                   7                    347,712.58                   2.93
12.501 - 13.000                                   8                    549,037.84                   4.62
13.001 - 13.500                                   1                     51,788.80                   0.44
13.501 - 14.000                                   1                     45,424.81                   0.38
                                                  -                     ---------                   ----

Totals                                          152            $    11,883,117.04                 100.00 %
                                                ===                 =============                 ======

               PRINCIPAL BALANCES OF THE GROUP I FIXED RATE LOANS
<CAPTION>

                                                                                                Percentage of Group I
                                                                                                 Fixed Rate Loans by
                                       Number of Fixed Rate                                       Aggregate
Range of Principal Balances ($)                Loans          Aggregate Principal Balance     Principal Balance
- - -------------------------------                -----          ---------------------------     -----------------
<S>           <C>                                <C>          <C>                                     <C>
 15,000.01  - 25,000.00                          2            $        36,514.70                      0.31  %
 25,000.01 -  50,000.00                         40                  1,756,764.64                     14.78
 50,000.01 -  75,000.00                         49                  2,993,366.63                     25.19
 75,000.01 - 100,000.00                         32                  2,778,669.17                     23.38
100,000.01 - 125,000.00                          9                  1,015,714.46                      8.55
125,000.01 - 150,000.00                          7                    956,257.64                      8.05
150,000.01 - 175,000.00                          5                    794,907.75                      6.69
175,000.01 - 200,000.00                          5                    922,408.81                      7.76
200,000.01 - 225,000.00                          3                    628,513.24                      5.29
                                                 -                    ----------                      ----

Totals                                         152            $    11,883,117.04                    100.00 %
                                               ===                 =============                    ======
</TABLE>
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 18
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
           REMAINING TERMS TO MATURITY OF THE GROUP I FIXED RATE LOANS

                                                                                        Percentage of Group I
                                                                                         Fixed Rate Loans by
                                   Number of Fixed Rate                                       Aggregate
Remaining Term (months)                    Loans          Aggregate Principal Balance     Principal Balance
- - -----------------------                    -----          ---------------------------     -----------------
171 - 175                                     8            $       611,790.33                   5.15 %
176 - 180                                    73                  5,171,498.95                  43.52
236 - 240                                     2                     99,444.64                   0.84
351 - 355                                     8                    608,100.66                   5.12
356                                           3                    194,762.05                   1.64
357                                           6                    483,217.68                   4.07
358                                          30                  3,001,274.37                  25.26
359                                          22                  1,713,028.36                  14.42
                                             --                  ------------                  -----

Totals                                      152            $    11,883,117.04                 100.00 %
                                            ===                 =============                 ======

               MORTGAGE RATES OF THE GROUP I ADJUSTABLE RATE LOANS
<CAPTION>

                                                                                                 Percentage of Group I
                                                                                                 Adjustable Rate Loans
                                         Number of Adjustable                                    by Aggregate Principal
Range of Mortgage Rates (%)                   Rate Loans         Aggregate Principal Balance          Balance
- - ---------------------------             ------------------      ---------------------------          -------
<S>       <C>                                    <C>          <C>                                       <C>
 7.501 -  8.000                                  3            $       270,959.62                        0.47 %
 8.001 -  8.500                                 82                 10,734,740.78                       18.49
 8.501 -  9.000                                 69                  8,146,470.09                       14.03
 9.001 -  9.500                                 62                  7,626,875.99                       13.13
 9.501 - 10.000                                 95                 11,603,139.19                       19.98
10.001 - 10.500                                 64                  7,932,577.08                       13.66
10.501 - 11.000                                 64                  6,598,119.16                       11.36
11.001 - 11.500                                 27                  2,645,193.84                        4.56
11.501 - 12.000                                 14                  1,369,797.45                        2.36
12.001 - 12.500                                  6                    603,699.59                        1.04
12.501 - 13.000                                  4                    540,700.32                        0.93
                                                 -                    ----------                        ----

Totals                                         490            $    58,072,273.11                      100.00 %
                                               ===                 =============                      ======
</TABLE>
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 19
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
             PRINCIPAL BALANCES OF THE GROUP I ADJUSTABLE RATE LOANS


                                                                                              Percentage of Group I
                                                                                              Adjustable Rate Loans
                                      Number of Adjustable                                      by Aggregate
   Range of Principal Balances ($)          Rate Loans         Aggregate Principal Balance     Principal Balance
   -------------------------------      -----------------    ---------------------------     -----------------
<S>           <C>                              <C>          <C>                                  <C>
 15,000.01  - 25,000.00                        3            $        71,997.12                   0.12 %
 25,000.01 -  50,000.00                       22                    753,516.80                   1.30
 50,000.01 -  75,000.00                       47                  3,252,155.62                   5.60
 75,000.01 - 100,000.00                      136                 12,087,368.93                  20.81
100,000.01 - 125,000.00                      102                 11,543,044.07                  19.88
125,000.01 - 150,000.00                       61                  8,426,088.91                  14.51
150,000.01 - 175,000.00                       53                  8,546,870.98                  14.72
175,000.01 - 200,000.00                       34                  6,337,177.77                  10.91
200,000.01 - 225,000.00                       22                  4,727,173.96                   8.14
225,000.01 - 250,000.00                       10                  2,326,878.95                   4.01
                                              --                  ------------                   ----

Totals                                       490            $    58,072,273.11                 100.00 %
                                             ===                 =============                 ======
</TABLE>


- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 20
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
        REMAINING TERMS TO MATURITY OF THE GROUP I ADJUSTABLE RATE LOANS


                                                                                             Percentage of Group I
                                                                                             Adjustable Rate Loans
                                        Number of Adjustable                                      by Aggregate
 Remaining Term (months)                      Rate Loans        Aggregate Principal Balance     Principal Balance
 -----------------------             ---------------------     ---------------------------     -----------------
<S>   <C>                                      <C>          <C>                                        <C>
316 - 320                                      1            $        92,876.11                         0.16 %
321 - 325                                      1                     95,858.30                         0.17
326 - 330                                      1                     82,225.21                         0.14
341 - 345                                      2                    163,233.16                         0.28
351 - 355                                     40                  4,197,940.28                         7.23
356                                           29                  3,278,287.53                         5.65
357                                           38                  4,914,986.95                         8.46
358                                          205                 25,178,331.03                        43.36
359                                          173                 20,068,534.54                        34.56
                                             ---                 -------------                        -----

Totals                                       490            $    58,072,273.11                       100.00 %
                                             ===                 =============                       ======
<CAPTION>

               GROSS MARGINS OF THE GROUP I ADJUSTABLE RATE LOANS

                                                                                                Percentage of Group I
                                                                                                Adjustable Rate Loans
                                       Number of Adjustable                                      by Aggregate
  Range of Gross Margins (%)                Rate Loans        Aggregate Principal Balance     Principal Balance
  --------------------------           -----------------      ---------------------------     -----------------
 2.501 -  3.000                               3            $       270,959.62                         0.47 %
 5.001 -  5.500                               2                    255,808.74                         0.44
 5.501 -  6.000                             152                 19,208,445.75                        33.08
 6.001 -  6.500                             104                 12,328,877.56                        21.23
 6.501 -  7.000                             146                 17,028,894.39                        29.32
 7.001 -  7.500                              59                  6,469,919.04                        11.14
 7.501 -  8.000                              21                  2,224,723.38                         3.83
 8.001 -  8.500                               3                    284,644.63                         0.49
                                              -                    ----------                         ----

Totals                                      490            $    58,072,273.11                       100.00 %
                                            ===                 =============                       ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 21
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
               MAXIMUM RATES OF THE GROUP I ADJUSTABLE RATE LOANS

                                                                                               Percentage of Group I
                                                                                               Adjustable Rate Loans by
                                         Number of Adjustable                                        Aggregate
Range of Maximum Rates (%)                    Rate Loans        Aggregate Principal Balance      Principal Balance
- - --------------------------              --------------------    ---------------------------      -----------------
<S>      <C>                                      <C>          <C>                                        <C>
10.501 - 11.000                                   1            $        92,876.11                         0.16 %
11.001 - 11.500                                   1                     82,225.21                         0.14
11.501 - 12.000                                   1                     95,858.30                         0.17
15.001 - 15.500                                  82                 10,734,740.78                        18.49
15.501 - 16.000                                  69                  8,146,470.09                        14.03
16.001 - 16.500                                  62                  7,626,875.99                        13.13
16.501 - 17.000                                  95                 11,603,139.19                        19.98
17.001 - 17.500                                  64                  7,932,577.08                        13.66
17.501 - 18.000                                  64                  6,598,119.16                        11.36
18.001 - 18.500                                  27                  2,645,193.84                         4.56
18.501 - 19.000                                  14                  1,369,797.45                         2.36
19.001 - 19.500                                   6                    603,699.59                         1.04
19.501 - 20.000                                   4                    540,700.32                         0.93
                                                  -                    ----------                         ----

Totals                                          490            $    58,072,273.11                       100.00 %
                                                ===                 =============                       ======
<CAPTION>

               MINIMUM RATES OF THE GROUP I ADJUSTABLE RATE LOANS
                                                                                                 Percentage of Group I
                                                                                                 Adjustable Rate Loans by
                                          Number of Adjustable                                        Aggregate
 Range of Minimum Rates (%)                    Rate Loans       Aggregate Principal Balance       Principal Balance
 --------------------------               ---------------       ---------------------------       -----------------
 5.501 -  6.000                                 1            $        92,876.11                         0.16 %
 6.001 -  6.500                                 1                     82,225.21                         0.14
 6.501 -  7.000                                 1                     95,858.30                         0.17
 8.001 -  8.500                                82                 10,734,740.78                        18.49
 8.501 -  9.000                                69                  8,146,470.09                        14.03
 9.001 -  9.500                                62                  7,626,875.99                        13.13
 9.501 - 10.000                                95                 11,603,139.19                        19.98
10.001 - 10.500                                64                  7,932,577.08                        13.66
10.501 - 11.000                                64                  6,598,119.16                        11.36
11.001 - 11.500                                27                  2,645,193.84                         4.56
11.501 - 12.000                                14                  1,369,797.45                         2.36
12.001 - 12.500                                 6                    603,699.59                         1.04
12.501 - 13.000                                 4                    540,700.32                         0.93
                                                -                    ----------                         ----

Totals                                        490            $    58,072,273.11                       100.00 %
                                              ===                 =============                       ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 22
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

       NEXT INTEREST ADJUSTMENT DATE OF THE GROUP I ADJUSTABLE RATE LOANS


                                                                                         Percentage of Group I
                                                                                         Adjustable Rate Loans
                                   Number of Adjustable                                      by Aggregate
        Next Adjustment Date            Rate Loans        Aggregate Principal Balance     Principal Balance
        --------------------     -------------------      ---------------------------     -----------------
<S>         <C>   <C>                  <C>          <C>
            10/01/99                   1            $         95,858.30                        0.17 %
            11/01/99                   1                     184,616.32                        0.32
            12/01/99                   1                      77,959.70                        0.13
            02/01/00                   1                      82,225.21                        0.14
            04/01/00                   1                      65,162.49                        0.11
            07/01/00                   2                     211,427.72                        0.36
            08/01/00                   1                      44,681.55                        0.08
            05/01/01                   4                     453,323.98                        0.78
            06/01/01                   3                     433,485.12                        0.75
            07/01/01                  12                   1,276,416.48                        2.20
            08/01/01                  18                   2,387,351.39                        4.11
            09/01/01                  83                  10,591,918.70                       18.24
            10/01/01                  44                   5,146,182.33                        8.86
            03/01/02                   2                     240,939.33                        0.41
            05/01/02                  19                   1,837,308.45                        3.16
            06/01/02                  10                     970,307.38                        1.67
            07/01/02                  17                   2,001,871.05                        3.45
            08/01/02                  21                   2,634,133.01                        4.54
            09/01/02                 121                  14,479,914.88                       24.93
            10/01/02                 128                  14,857,189.72                       25.58
                                     ---                --------------                        -----

Totals                               490             $    58,072,273.11                      100.00 %
                                     ===                  =============                      ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 23
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                  MORTGAGE RATES OF THE GROUP I MORTGAGE LOANS

                                                                                        Percentage of Group I
                                                                                            Mortgage Loans
                                    Number of Mortgage                                       by Aggregate
 Range of Mortgage Rates (%)               Loans          Aggregate Principal Balance     Principal Balance
 ---------------------------               -----          ---------------------------     -----------------
<S>       <C>                                 <C>          <C>                                        <C>
 7.501 -  8.000                               3            $       270,959.62                         0.39 %
 8.001 -  8.500                              82                 10,734,740.78                        15.35
 8.501 -  9.000                              71                  8,302,939.68                        11.87
 9.001 -  9.500                              70                  8,607,755.09                        12.30
 9.501 - 10.000                             112                 13,232,835.53                        18.92
10.001 - 10.500                             109                 11,801,153.13                        16.87
10.501 - 11.000                              94                  8,663,787.06                        12.38
11.001 - 11.500                              47                  3,991,149.64                         5.71
11.501 - 12.000                              27                  2,211,705.68                         3.16
12.001 - 12.500                              13                    951,412.17                         1.36
12.501 - 13.000                              12                  1,089,738.16                         1.56
13.001 - 13.500                               1                     51,788.80                         0.07
13.501 - 14.000                               1                     45,424.81                         0.06
                                              -                     ---------                         ----

Totals                                      642            $    69,955,390.15                       100.00 %
                                            ===                 =============                       ======

<CAPTION>
                                  PRINCIPAL BALANCES OF THE GROUP I MORTGAGE LOANS

                                                                                                 Percentage of Group I
                                                                                                    Mortgage Loans
                                           Number of Mortgage                                      by Aggregate
 Range of Principal Balances ($)                  Loans          Aggregate Principal Balance     Principal Balance
 -------------------------------                  -----          ---------------------------     -----------------
<S>           <C>                                     <C>          <C>                                       <C>
 15,000.01  - 25,000.00                               5            $       108,511.82                        0.16 %
 25,000.01 -  50,000.00                              62                  2,510,281.44                        3.59
 50,000.01 -  75,000.00                              96                  6,245,522.25                        8.93
 75,000.01 - 100,000.00                             168                 14,866,038.10                       21.25
100,000.01 - 125,000.00                             111                 12,558,758.53                       17.95
125,000.01 - 150,000.00                              68                  9,382,346.55                       13.41
150,000.01 - 175,000.00                              58                  9,341,778.73                       13.35
175,000.01 - 200,000.00                              39                  7,259,586.58                       10.38
200,000.01 - 225,000.00                              25                  5,355,687.20                        7.66
225,000.01 - 250,000.00                              10                  2,326,878.95                        3.33
                                                     --                  ------------                        ----

Totals                                              642            $    69,955,390.15                      100.00 %
                                                    ===                 =============                      ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 24
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
               RISK CLASSIFICATIONS OF THE GROUP I MORTGAGE LOANS

                                                                                             Percentage of Group I
                                                                                                Mortgage Loans
                                         Number of Mortgage                                       by Aggregate
         Risk Classification                    Loans          Aggregate Principal Balance     Principal Balance
         -------------------                    -----          ---------------------------     -----------------
<S>                                               <C>            <C>                                      <C>
A                                                 326            $    38,244,106.93                       54.67 %
A-                                                135                 15,289,602.15                       21.86
B                                                 115                 10,831,270.55                       15.48
C                                                  57                  4,626,017.14                        6.61
C-                                                  7                    715,280.18                        1.02
D                                                   2                    249,113.20                        0.36
                                                    -                    ----------                        ----

Totals                                            642            $    69,955,390.15                      100.00 %
                                                  ===                 =============                      ======
<CAPTION>
               LOAN TO VALUE RATIOS OF THE GROUP I MORTGAGE LOANS

                                                                                             Percentage of Group I
                                                                                                Mortgage Loans
 Range of Loan-to-Value                  Number of Mortgage                                       by Aggregate
 Ratios at Origination                          Loans          Aggregate Principal Balance     Principal Balance
 ----------------------                         -----          ---------------------------     -----------------
<S>       <C>                                       <C>          <C>
 20.01 -  25.00                                     2            $         84,551.72                       0.12 %
 30.01 -  35.00                                     3                     160,855.63                       0.23
 40.01 -  45.00                                     1                      50,518.31                       0.07
 45.01 -  50.00                                     3                     165,751.09                       0.24
 50.01 -  55.00                                     8                     738,631.52                       1.06
 55.01 -  60.00                                    11                   1,087,264.64                       1.55
 60.01 -  65.00                                    24                   1,962,877.76                       2.81
 65.01 -  70.00                                    46                   4,405,805.45                       6.30
 70.01 -  75.00                                   194                  22,255,501.72                      31.81
 75.01 -  80.00                                   167                  17,893,334.66                      25.58
 80.01 -  85.00                                   101                  11,110,736.26                      15.88
 85.01 -  90.00                                    79                   9,768,601.77                      13.96
 95.01 - 100.00                                     3                     270,959.62                       0.39
                                                    -               ----------------                       ----

Totals                                            642             $    69,955,390.15                     100.00 %
                                                  ===                  =============                     ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 25
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
            REMAINING TERMS TO MATURITY OF THE GROUP I MORTGAGE LOANS

                                                                                            Percentage of Group I
                                                                                               Mortgage Loans
                                        Number of Mortgage                                       by Aggregate
Remaining Term (months)                        Loans          Aggregate Principal Balance     Principal Balance
- - -----------------------                        -----          ---------------------------     -----------------
<S>   <C>                                         <C>          <C>                                       <C>
171 - 175                                         8            $       611,790.33                        0.87 %
176 - 180                                        73                  5,171,498.95                        7.39
236 - 240                                         2                     99,444.64                        0.14
316 - 320                                         1                     92,876.11                        0.13
321 - 325                                         1                     95,858.30                        0.14
326 - 330                                         1                     82,225.21                        0.12
341 - 345                                         2                    163,233.16                        0.23
351 - 355                                        48                  4,806,040.94                        6.87
356                                              32                  3,473,049.58                        4.96
357                                              44                  5,398,204.63                        7.72
358                                             235                 28,179,605.40                       40.28
359                                             195                 21,781,562.90                       31.14
                                                ---                 -------------                       -----

Totals                                          642            $    69,955,390.15                      100.00 %
                                                ===                 =============                      ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 26
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
 GEOGRAPHIC DISTRIBUTION OF THE MORTGAGE PROPERTIES OF THE GROUP I MORTGAGE LOANS

                                                                                     Percentage of Group I
                                                                                        Mortgage Loans
                                 Number of Mortgage                                       by Aggregate
  State                                 Loans          Aggregate Principal Balance     Principal Balance
  -----                                 -----          ---------------------------     -----------------
<S>                                        <C>           <C>                                       <C>
Alabama                                    10            $       724,345.92                        1.04 %
Arizona                                    45                  4,869,085.02                        6.96
California                                 99                 15,133,714.58                       21.63
Colorado                                   39                  4,725,220.61                        6.75
Connecticut                                 1                    114,619.23                        0.16
Delaware                                    2                    168,305.52                        0.24
District of Columbia                        1                     76,433.82                        0.11
Florida                                    18                  1,544,647.64                        2.21
Georgia                                    11                    984,691.62                        1.41
Idaho                                       5                    351,797.51                        0.50
Illinois                                   41                  4,627,517.21                        6.61
Indiana                                     9                    634,207.36                        0.91
Kansas                                      1                     79,738.70                        0.11
Kentucky                                    5                    405,571.60                        0.58
Louisiana                                   1                     36,691.71                        0.05
Maryland                                   15                  1,684,354.94                        2.41
Massachusetts                               1                    221,882.52                        0.32
Michigan                                   14                  1,114,475.10                        1.59
Minnesota                                   7                    679,038.69                        0.97
Missouri                                    9                    542,380.58                        0.78
New Hampshire                               1                     39,987.21                        0.06
New Mexico                                 22                  1,885,088.83                        2.69
New York                                    7                    459,789.07                        0.66
North Carolina                             15                  1,592,841.04                        2.28
Ohio                                       40                  2,999,095.80                        4.29
Oklahoma                                    1                     31,480.92                        0.05
Oregon                                     96                 10,853,292.64                       15.51
Pennsylvania                               23                  1,660,663.78                        2.37
South Carolina                              5                    351,652.75                        0.50
South Dakota                                1                     94,776.29                        0.14
Tennessee                                  14                  1,185,562.01                        1.69
Texas                                       3                    367,349.48                        0.53
Utah                                       11                  1,388,372.05                        1.98
Virginia                                    5                    744,478.31                        1.06
Washington                                 56                  6,827,718.38                        9.76
West Virginia                               3                    137,701.24                        0.20
Wisconsin                                   3                    364,195.66                        0.52
Wyoming                                     2                    252,624.81                        0.36
                                            -                    ----------                        ----
Totals                                    642            $    69,955,390.15                      100.00 %
                                          ===                 =============                      ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 27
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
 NUMBER OF MONTHS ELAPSED FROM THE DATE OF ORIGINATION OF THE GROUP I MORTGAGE LOANS

                                                                                 Percentage of Group I
                                                                                    Mortgage Loans
                             Number of Mortgage                                       by Aggregate
  Range of Months                   Loans          Aggregate Principal Balance     Principal Balance
  ---------------                   -----          ---------------------------     -----------------
<S>                                  <C>            <C>                                  <C>
  0                                  169            $    17,910,447.32                   25.60 %
  1                                  281                 31,947,904.66                   45.67
  2                                   81                  8,977,854.67                   12.83
  3                                   39                  4,279,422.60                    6.12
  4                                   28                  2,401,356.14                    3.43
  5 -  12                             39                  4,004,211.98                    5.72
 13 -  24                              2                    163,233.16                    0.23
 25 -  48                              3                    270,959.62                    0.39
                                       -                    ----------                    ----

Totals                               642            $    69,955,390.15                  100.00 %
                                     ===                 =============                  ======
<CAPTION>

   OCCUPANCY STATUS OF THE MORTGAGED PROPERTIES OF THE GROUP I MORTGAGE LOANS

                                                                                          Percentage of Group I
                                                                                             Mortgage Loans
                                  Number of Mortgage                                       by Aggregate
 Occupancy Status                        Loans          Aggregate Principal Balance     Principal Balance
 ----------------                        -----          ---------------------------     -----------------
<S>                                        <C>           <C>                                  <C>
Investment                                 36            $     2,764,185.96                   3.95 %
Owner Occupied                            598                 66,464,816.31                  95.01
Second Home                                 8                    726,387.88                   1.04
                                            -                    ----------                   ----

Totals                                    642            $    69,955,390.15                 100.00 %
                                          ===                 =============                 ======

           TYPES OF MORTGAGED PROPERTIES OF THE GROUP I MORTGAGE LOANS

<CAPTION>
                                                                                        Percentage of Group I
                                                                                           Mortgage Loans
                                    Number of Mortgage                                       by Aggregate
 Property Type                             Loans          Aggregate Principal Balance     Principal Balance
 -------------                             -----          ---------------------------     -----------------
<S>                                           <C>           <C>                                 <C>
Multi-Family Home                             28            $     3,106,810.42                  4.44 %
Condominium                                   12                  1,187,900.64                  1.70
Manufactured Homes                            25                  2,049,385.69                  2.93
Single Family Home                           577                 63,611,293.40                 90.93
                                             ---                 -------------                 -----

Totals                                       642            $    69,955,390.15                100.00 %
                                             ===                 =============                ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 28
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                  USE OF PROCEEDS OF THE GROUP I MORTGAGE LOANS

                                                                                         Percentage of Group I
                                                                                            Mortgage Loans
                                     Number of Mortgage                                       by Aggregate
 Use of Proceeds                            Loans          Aggregate Principal Balance     Principal Balance
 ---------------                            -----          ---------------------------     -----------------
<S>                                           <C>            <C>                                  <C>
Purchase                                      321            $    37,478,617.02                   53.58 %
Refinance Cash Out                            212                 21,816,604.40                   31.19
Refinance Rate/Term                           109                 10,660,168.73                   15.24
                                              ---                 -------------                   -----

Totals                                        642            $    69,955,390.15                  100.00 %
                                              ===                 =============                  ======

              PROGRAM CLASSIFICATIONS OF THE GROUP I MORTGAGE LOANS
<CAPTION>

                                                                                        Percentage of Group I
                                                                                           Mortgage Loans
                                    Number of Mortgage                                       by Aggregate
 Documentation                             Loans          Aggregate Principal Balance     Principal Balance
 -------------                             -----          ---------------------------     -----------------
<S>                                        <C>            <C>                                    <C>
Full                                       512            $    56,209,241.71                     80.35 %
Alternate                                   23                  2,679,880.54                      3.83
Income Verified/No Assets Verified           4                    430,885.97                      0.62
No Income Verification                     107                11,066,267.90                      15.82
                                           ---                --------------                     -----

Totals                                     642            $    69,955,390.15                    100.00 %
                                           ===                 =============                    ======

                             PREPAYMENT PENALTIES WITH RESPECT TO THE GROUP I MORTGAGE LOANS

<CAPTION>
                                                                                                   Percentage of Group I
                                                                                              Mortgage Loans
                                       Number of Mortgage                                       by Aggregate
 Prepayment Penalty                           Loans          Aggregate Principal Balance     Principal Balance
 ------------------                           -----          ---------------------------     -----------------
<C>                                             <C>           <C>                                   <C>
1 Year                                          13            $     1,400,230.17                    2.00 %
2 Year                                         109                 14,621,850.36                   20.90
3 Year                                         501                 52,510,583.73                   75.06
5 Year                                           8                    769,816.10                    1.10
None                                            11                    652,909.79                    0.93
                                                --                    ----------                    ----

Totals                                         642            $    69,955,390.15                  100.00 %
                                               ===                 =============                  ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 29
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                         Group II Adjustable Rate Loans

                                                                               All Adjustable Rate Loans
                                                                           ----------------------------------
<S>                                                                                             <C>
Number of Group II Adjustable Rate Loans                                                        215

Percentage of All Group II Mortgage Loans                                                    77.06%
(by number of loans)

Aggregate Principal Balance                                                          $26,794,389.88

Percentage of All Group II Mortgage Loans                                                    88.50%
(by aggregate principal balance)

Principal Balance of Mortgage Loans as of the Cut-Off Date

              Average                                                                   $124,625.07
              Range                                                        $11,994.09 - $422,403.11

Coupon Rates

              Weighted Average                                                               9.870%
              Range                                                                7.625% - 13.750%

Remaining Term to Maturity
(in months)

              Weighted Average                                                               357.27
              Range                                                                       317 - 359

Loan-to-Value Ratio at Origination

              Weighted Average                                                               78.38%
              Range                                                                 36.81% - 96.50%

</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 30
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                            Group II Fixed Rate Loans

                                                                                    All Fixed Rate Loans
                                                                              ----------------------------------
<S>                                                                                              <C>
Number of Group II Fixed Rate Loans                                                              64

Percentage of All Group II Mortgage Loans                                                    22.94%
(by number of loans)

Aggregate Principal Balance                                                           $3,482,042.34

Percentage of All Group II Mortgage Loans                                                    11.50%
(by aggregate principal balance)

Principal Balance of Mortgage Loans as of the Cut-Off Date

              Average                                                                    $54,406.91
              Range                                                        $16,916.67 - $243,565.63

Coupon Rates

              Weighted Average                                                               9.869%
              Range                                                                8.250% - 12.875%

Remaining Term to Maturity
(in months)

              Weighted Average                                                               265.48
              Range                                                                       173 - 359

Loan-to-Value Ratio at Origination

              Weighted Average                                                               71.20%
              Range                                                                 11.03% - 85.00%
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 31
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                 MORTGAGE RATES OF THE GROUP II FIXED RATE LOANS

                                                                                              Percentage of Group II
                                                                                                Fixed Rate Loans by
                                          Number of Fixed Rate                                       Aggregate
 Range of Mortgage Rates (%)                      Loans          Aggregate Principal Balance     Principal Balance
 ---------------------------                      -----          ---------------------------     -----------------

<S>       <C>                                       <C>          <C>                                       <C>
 8.001 -  8.500                                     1            $          43,153.81                      1.24 %
 8.501 -  9.000                                     8                      625,895.67                     17.97
 9.001 -  9.500                                    12                      729,338.71                     20.95
 9.501 - 10.000                                    20                    1,146,818.35                     32.94
10.001 - 10.500                                     4                      106,924.97                      3.07
10.501 - 11.000                                     6                      423,967.27                     12.18
11.001 - 11.500                                     5                      160,093.45                      4.60
11.501 - 12.000                                     4                      131,180.53                      3.77
12.001 - 12.500                                     3                       86,083.13                      2.47
12.501 - 13.000                                     1                     28,586.45                        0.82
                                                    -              -----------------                       ----

Totals                                             64            $      3,482,042.34                     100.00 %
                                                   ==                   ============                     ======

                                 PRINCIPAL BALANCES OF THE GROUP II FIXED RATE LOANS
<CAPTION>

                                                                                                Percentage of Group II
                                                                                                  Fixed Rate Loans by
                                            Number of Fixed Rate                                       Aggregate
 Range of Principal Balances ($)                    Loans          Aggregate Principal Balance     Principal Balance
 -------------------------------                    -----          ---------------------------     -----------------
S>           <C>                                    <C>          <C>                                    <C>
 15,000.01  - 25,000.00                              4            $          82,110.69                   2.36 %
 25,000.01 -  50,000.00                             39                    1,402,328.92                  40.27
 50,000.01 -  75,000.00                             12                      755,371.15                  21.69
 75,000.01 - 100,000.00                              2                      171,080.05                   4.91
100,000.01 - 125,000.00                              3                      327,671.99                   9.41
125,000.01 - 150,000.00                              1                      130,353.14                   3.74
175,000.01 - 200,000.00                              2                      369,560.77                  10.61
225,000.01 - 250,000.00                              1                    243,565.63                     6.99
                                                     -              -----------------                    ----

Totals                                              64            $      3,482,042.34                  100.00 %
                                                    ==                   ============                  ======

</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 32
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                            REMAINING TERMS TO MATURITY OF THE GROUP II FIXED RATE LOANS

                                                                                      Percentage of Group II
                                                                                        Fixed Rate Loans by
                                  Number of Fixed Rate                                       Aggregate
 Remaining Term (months)                  Loans          Aggregate Principal Balance     Principal Balance
 -----------------------                  -----          ---------------------------     -----------------

<S>   <C>                                   <C>          <C>                                       <C>
171 - 175                                   3            $          94,632.97                      2.72 %
176 - 180                                  34                    1,673,287.94                     48.05
236 - 240                                   1                       34,453.82                      0.99
351 - 355                                   3                      143,068.64                      4.11
356                                         2                       71,551.00                      2.05
357                                         1                       33,769.85                      0.97
358                                         9                      722,538.83                     20.75
359                                        11                    708,739.29                       20.35
                                           --              -----------------                      -----

Totals                                     64            $      3,482,042.34                     100.00 %
                                           ==                   ============                     ======

                                MORTGAGE RATES OF THE GROUP II ADJUSTABLE RATE LOANS
<CAPTION>
                                                                                               Percentage of Group II
                                                                                          Adjustable Rate Loans
                                      Number of Adjustable                                by Aggregate Principal
  Range of Mortgage Rates (%)              Rate Loans        Aggregate Principal Balance          Balance
  ---------------------------                                ---------------------------          -------

<S>       <C>                                 <C>          <C>
 7.501 -  8.000                               1            $         66,059.14                       0.25 %
 8.001 -  8.500                              24                   4,079,849.60                      15.23
 8.501 -  9.000                              17                   2,995,474.52                      11.18
 9.001 -  9.500                              21                   3,737,237.01                      13.95
 9.501 - 10.000                              41                   5,893,013.56                      21.99
10.001 - 10.500                              34                   3,867,792.08                      14.44
10.501 - 11.000                              31                   2,991,156.58                      11.16
11.001 - 11.500                              23                   1,528,172.72                       5.70
11.501 - 12.000                              12                     844,031.12                       3.15
12.001 - 12.500                               4                     227,021.61                       0.85
12.501 - 13.000                               3                     171,350.68                       0.64
13.001 - 13.500                               1                     241,400.84                       0.90
13.501 - 14.000                               3                     151,830.42                       0.57
                                              -                ----------------                      ----

Totals                                      215            $    26,794,389.88                      100.00 %
                                            ===                 =============                      ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 33
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
            PRINCIPAL BALANCES OF THE GROUP II ADJUSTABLE RATE LOANS

                                                                                                   Percentage of Group II
                                                                                                   Adjustable Rate Loans
                                              Number of Adjustable                                      by Aggregate
   Range of Principal Balances ($)                  Rate Loans       Aggregate Principal Balance     Principal Balance
   -------------------------------            -----------------      ---------------------------     -----------------
<S> <C>    <C>                                     <C>          <C>                                        <C>
    0.01 - 15,000.00                               1            $         11,994.09                        0.04 %
 25,000.01 -  50,000.00                           47                   2,023,587.37                        7.55
 50,000.01 -  75,000.00                           99                   5,994,542.24                       22.37
100,000.01 - 125,000.00                            5                     535,371.15                        2.00
200,000.01 - 225,000.00                            3                     645,849.80                        2.41
225,000.01 - 250,000.00                           16                   3,824,898.76                       14.27
250,000.01 - 275,000.00                           13                   3,354,484.58                       12.52
275,000.01 - 300,000.00                           11                   3,170,878.75                       11.83
300,000.01 - 325,000.00                            4                   1,254,549.28                        4.68
325,000.01 - 350,000.00                            4                   1,377,465.90                        5.14
350,000.01 - 375,000.00                            6                   2,177,487.22                        8.13
375,000.01 - 400,000.00                            4                   1,591,897.22                        5.94
400,000.01 - 425,000.00                            2                   831,383.52                          3.10
                                                   -              ----------------                         ----

Totals                                           215            $    26,794,389.88                       100.00 %
                                                 ===                 =============                       ======

<CAPTION>
    REMAINING TERMS TO MATURITY OF THE GROUP II INITIAL ADJUSTABLE RATE LOANS


                                                                                                   Percentage of Group II
                                              Number of Adjustable                                 Adjustable Rate Loans
                                                    Rate Loans                                          by Aggregate
       Remaining Term (months)                                       Aggregate Principal Balance     Principal Balance
       -----------------------                                       ---------------------------     -----------------
<S>   <C>                                                 <C>          <C>                                        <C>
316 - 320                                                 1            $         66,059.14                        0.25 %
346 - 350                                                 3                     791,121.31                        2.95
351 - 355                                                27                   3,163,968.65                       11.81
356                                                      12                   1,546,030.35                        5.77
357                                                      22                   3,387,565.07                       12.64
358                                                      76                   9,006,337.71                       33.61
359                                                      74                 8,833,307.65                         32.97
                                                         --              -- -------------                        -----

Totals                                                  215            $    26,794,389.88                       100.00 %
                                                        ===                 =============                       ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 34
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                 GROSS MARGINS OF THE GROUP II ADJUSTABLE RATE LOANS

                                                                                               Percentage of Group II
                                                                                               Adjustable Rate Loans
                                          Number of Adjustable                                      by Aggregate
 Range of Gross Margins (%)                    Rate Loans        Aggregate Principal Balance     Principal Balance
 --------------------------              ------------------      ---------------------------     -----------------
<S>       <C>                                      <C>          <C>                                        <C>
 2.501 -  3.000                                    1            $         66,059.14                        0.25 %
 5.001 -  5.500                                    4                     432,489.29                        1.61
 5.501 -  6.000                                   50                   8,084,375.54                       30.17
 6.001 -  6.500                                   38                   4,781,427.02                       17.84
 6.501 -  7.000                                   78                   9,207,922.43                       34.37
 7.001 -  7.500                                   19                   2,302,222.39                        8.59
 7.501 -  8.000                                   23                   1,809,063.02                        6.75
 8.001 -  8.500                                    2                   110,831.05                          0.41
                                                   -              ----------------                         ----

Totals                                           215            $    26,794,389.88                       100.00 %
                                                 ===                 =============                       ======

<CAPTION>
               MAXIMUM RATES OF THE GROUP II ADJUSTABLE RATE LOANS


                                                                                              Percentage of Group II
                                                                                              Adjustable Rate Loans by
                                         Number of Adjustable                                        Aggregate
Range of Maximum Rates (%)                    Rate Loans        Aggregate Principal Balance      Principal Balance
- - --------------------------             -----------------        ---------------------------      -----------------
10.001 - 10.500                               1            $         66,059.14                        0.25 %
15.001 - 15.500                              24                   4,079,849.60                       15.23
15.501 - 16.000                              17                   2,995,474.52                       11.18
16.001 - 16.500                              21                   3,737,237.01                       13.95
16.501 - 17.000                              41                   5,893,013.56                       21.99
17.001 - 17.500                              34                   3,867,792.08                       14.44
17.501 - 18.000                              31                   2,991,156.58                       11.16
18.001 - 18.500                              23                   1,528,172.72                        5.70
18.501 - 19.000                              12                     844,031.12                        3.15
19.001 - 19.500                               4                     227,021.61                        0.85
19.501 - 20.000                               3                     171,350.68                        0.64
20.001 - 20.500                               1                     241,400.84                        0.90
20.501 - 21.000                               3                     151,830.42                        0.57
                                              -                ----------------                       ----

Totals                                      215            $    26,794,389.88                       100.00 %
                                            ===                 =============                       ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 35
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

               MINIMUM RATES OF THE GROUP II ADJUSTABLE RATE LOANS
                                                                                              Percentage of Group II
                                                                                             Adjustable Rate Loans by
                                         Number of Adjustable                                        Aggregate
Range of Minimum Rates (%)                    Rate Loans       Aggregate Principal Balance       Principal Balance
- - --------------------------                ---------------      ---------------------------       -----------------
<S>       <C>                                   <C>          <C>
 5.001 -  5.500                                 1            $         66,059.14                        0.25 %
 8.001 -  8.500                                24                   4,079,849.60                       15.23
 8.501 -  9.000                                17                   2,995,474.52                       11.18
 9.001 -  9.500                                21                   3,737,237.01                       13.95
 9.501 - 10.000                                41                   5,893,013.56                       21.99
10.001 - 10.500                                34                   3,867,792.08                       14.44
10.501 - 11.000                                31                   2,991,156.58                       11.16
11.001 - 11.500                                23                   1,528,172.72                        5.70
11.501 - 12.000                                12                     844,031.12                        3.15
12.001 - 12.500                                 4                     227,021.61                        0.85
12.501 - 13.000                                 3                     171,350.68                        0.64
13.001 - 13.500                                 1                     241,400.84                        0.90
13.501 - 14.000                                 3                     151,830.42                        0.57
                                                -                ----------------                       ----
Totals                                        215            $    26,794,389.88                       100.00 %
                                              ===                 =============                       ======
<CAPTION>


                         NEXT INTEREST ADJUSTMENT DATE OF THE GROUP II ADJUSTABLE RATE LOANS

                                                                                            Percentage of Group II
                                                                                             Adjustable Rate Loans
                                      Number of Adjustable                                      by Aggregate
        Next Adjustment Date               Rate Loans        Aggregate Principal Balance     Principal Balance
        --------------------         ------------------      ---------------------------     -----------------
<S>             <C>   <C>                         <C>          <C>                                  <C>
                01/01/00                          1            $        354,828.42                  1.32 %
                02/01/00                          2                     321,533.41                  1.20
                07/01/00                          1                      66,059.14                  0.25
                09/01/00                          2                     440,831.95                  1.65
                05/01/01                          4                     207,015.93                  0.77
                06/01/01                          2                     369,760.75                  1.38
                07/01/01                          4                     638,803.42                  2.38
                08/01/01                          9                   1,923,235.37                  7.18
                09/01/01                         25                   4,117,842.18                 15.37
                10/01/01                         19                   1,738,253.92                  6.49
                01/01/02                          1                     350,289.36                  1.31
                05/01/02                         11                   1,398,879.28                  5.22
                06/01/02                         10                   1,188,312.69                  4.43
                07/01/02                          7                     552,398.51                  2.06
                08/01/02                         11                   1,142,796.29                  4.27
                09/01/02                         51                   4,888,495.53                 18.24
                10/01/02                         55                   7,095,053.73                 26.48
                                                 --                  -------------                  -----

Totals                                          215            $    26,794,389.88                 100.00 %
                                                ===                 =============                 ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 36
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                  MORTGAGE RATES OF THE GROUP II MORTGAGE LOANS

                                                                                                Percentage of Group II
                                                                                                    Mortgage Loans
                                          Number of Mortgage                                         by Aggregate
Range of Mortgage Rates (%)                      Loans           Aggregate Principal Balance      Principal Balance
- - ---------------------------                      -----           ---------------------------      -----------------
<S>       <C>                                       <C>          <C>                                         <C>
 7.501 -  8.000                                     1            $          66,059.14                        0.22 %
 8.001 -  8.500                                    25                    4,123,003.41                       13.62
 8.501 -  9.000                                    25                    3,621,370.19                       11.96
 9.001 -  9.500                                    33                    4,466,575.72                       14.75
 9.501 - 10.000                                    61                    7,039,831.91                       23.25
10.001 - 10.500                                    38                    3,974,717.05                       13.13
10.501 - 11.000                                    37                    3,415,123.85                       11.28
11.001 - 11.500                                    28                    1,688,266.17                        5.58
11.501 - 12.000                                    16                      975,211.65                        3.22
12.001 - 12.500                                     7                      313,104.74                        1.03
12.501 - 13.000                                     4                      199,937.13                        0.66
13.001 - 13.500                                     1                      241,400.84                        0.80
13.501 - 14.000                                     3                    151,830.42                          0.50
                                                    -              ----- -----------                         ----

Totals                                            279            $     30,276,432.22                       100.00 %
                                                  ===                  =============                       ======
<CAPTION>

                PRINCIPAL BALANCES OF THE GROUP II MORTGAGE LOANS

                                                                                               Percentage of Group II
                                                                                                   Mortgage Loans
                                            Number of Mortgage                                      by Aggregate
Range of Principal Balances ($)                    Loans          Aggregate Principal Balance     Principal Balance
- - -------------------------------                    -----          ---------------------------     -----------------
<S>      <C>                                          <C>          <C>                                       <C>
 0.01  - 15,000.00                                    1            $          11,994.09                      0.04 %
 15,000.01  - 25,000.00                               4                       82,110.69                      0.27
 25,000.01 -  50,000.00                              86                    3,425,916.29                     11.32
 50,000.01 -  75,000.00                             111                    6,749,913.39                     22.29
 75,000.01 - 100,000.00                               2                      171,080.05                      0.57
100,000.01 - 125,000.00                               8                      863,043.14                      2.85
125,000.01 - 150,000.00                               1                      130,353.14                      0.43
175,000.01 - 200,000.00                               2                      369,560.77                      1.22
200,000.01 - 225,000.00                               3                      645,849.80                      2.13
225,000.01 - 250,000.00                              17                    4,068,464.39                     13.44
250,000.01 - 275,000.00                              13                    3,354,484.58                     11.08
275,000.01 - 300,000.00                              11                    3,170,878.75                     10.47
300,000.01 - 325,000.00                               4                    1,254,549.28                      4.14
325,000.01 - 350,000.00                               4                    1,377,465.90                      4.55
350,000.01 - 375,000.00                               6                    2,177,487.22                      7.19
375,000.01 - 400,000.00                               4                    1,591,897.22                      5.26
400,000.01 - 425,000.00                               2                    831,383.52                        2.75
                                                      -              ----- -----------                       ----
Totals                                              279            $     30,276,432.22                     100.00 %
                                                    ===                  =============                     ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 37
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
               RISK CLASSIFICATIONS OF THE GROUP II MORTGAGE LOANS

                                                                                           Percentage of Group II
                                                                                               Mortgage Loans
                                        Number of Mortgage                                       by Aggregate
  Risk Classification                          Loans          Aggregate Principal Balance     Principal Balance
  -------------------                          -----          ---------------------------     -----------------
<S>                                              <C>            <C>                                 <C>
         A                                       131            $      17,808,303.60                58.82 %
         A-                                       59                    6,156,164.23                20.33
         B                                        49                    3,548,813.50                11.72
         C                                        27                    1,908,233.11                 6.30
         C-                                       11                      741,848.78                 2.45
         D                                         2                    113,069.00                   0.37
                                                   -                 ----- -----------               ----

Totals                                           279            $     30,276,432.22                100.00 %
                                                 ===                  =============                ======
<CAPTION>

               LOAN TO VALUE RATIOS OF THE GROUP II MORTGAGE LOANS

                                                                                           Percentage of Group II
                                                                                             Mortgage Loans by
   Range of Loan-to-Value                   Number of                                            Aggregate
  Ratios at Origination (%)              Mortgage Loans      Aggregate Principal Balance     Principal Balance
  -------------------------              --------------      ---------------------------     -----------------
<S>      <C>      <C>                             <C>          <C>                                <C>
         10.01 -  15.00                           1            $          22,490.81               0.07 %
         20.01 -  25.00                           1                       29,977.92               0.10
         25.01 -  30.00                           3                       82,583.56               0.27
         35.01 -  40.00                           3                      358,580.20               1.18
         40.01 -  45.00                           1                       64,975.52               0.21
         45.01 -  50.00                           3                      137,824.77               0.46
         50.01 -  55.00                           5                      277,697.57               0.92
         55.01 -  60.00                           7                      269,891.68               0.89
         60.01 -  65.00                          19                    1,112,659.59               3.68
         65.01 -  70.00                          34                    2,966,443.88               9.80
         70.01 -  75.00                          70                    8,970,880.40              29.63
         75.01 -  80.00                          67                    6,569,308.84              21.70
         80.01 -  85.00                          38                    5,004,429.06              16.53
         85.01 -  90.00                          26                    4,342,629.28              14.34
         95.01 - 100.00                           1                     66,059.14                 0.22
                                                  -              ------ ----------                ----

Totals                                          279            $     30,276,432.22              100.00 %
                                               ===                  =============              ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 38
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

           REMAINING TERMS TO MATURITY OF THE GROUP II MORTGAGE LOANS

                                                                                           Percentage of Group II
                                                                                               Mortgage Loans
                                        Number of Mortgage                                       by Aggregate
Remaining Term (months)                        Loans          Aggregate Principal Balance     Principal Balance
- - -----------------------                        -----          ---------------------------     -----------------
<S>   <C>                                        <C>          <C>
171 - 175                                         3            $         94,632.97                       0.31 %
176 - 180                                        34                   1,673,287.94                       5.53
 36 - 240                                         1                      34,453.82                       0.11
316 - 320                                         1                      66,059.14                       0.22
346 - 350                                         3                     791,121.31                       2.61
351 - 355                                        30                   3,307,037.29                      10.92
356                                              14                   1,617,581.35                       5.34
357                                              23                   3,421,334.92                      11.30
358                                              85                   9,728,876.54                      32.13
359                                              85                   9,542,046.94                      31.52
                                                 --              -- -------------                       -----

Totals                                          279            $    30,276,432.22                      100.00 %
                                                ===                 =============                      ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 39
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
 GEOGRAPHIC DISTRIBUTION OF THE MORTGAGE PROPERTIES OF THE GROUP II MORTGAGE LOANS

                                                                                   Percentage of Group II
                                                                                       Mortgage Loans
                                Number of Mortgage                                       by Aggregate
 State                                 Loans          Aggregate Principal Balance     Principal Balance
 -----                                 -----          ---------------------------     -----------------
<S>                                      <C>          <C>                                     <C>
Alabama                                  4            $        210,039.29                     0.69 %
Arizona                                 19                   1,365,038.47                     4.51
California                              36                   9,248,126.90                    30.55
Colorado                                 8                     867,882.53                     2.87
Delaware                                 2                      95,979.49                     0.32
Florida                                 10                   1,082,758.93                     3.58
Georgia                                  2                     110,024.97                     0.36
Idaho                                    3                     162,042.30                     0.54
Illinois                                15                     819,819.29                     2.71
Indiana                                  8                     363,932.74                     1.20
Kansas                                   2                     301,822.64                     1.00
Kentucky                                 7                     501,163.16                     1.66
Louisiana                                3                     160,326.92                     0.53
Maryland                                 7                   1,424,348.57                     4.70
Michigan                                10                     734,756.55                     2.43
Minnesota                                4                     397,045.70                     1.31
Missouri                                17                     811,500.68                     2.68
Nevada                                   3                     174,819.85                     0.58
New Mexico                              15                   2,169,391.57                     7.17
New York                                 3                     130,458.54                     0.43
North Carolina                           8                     576,238.07                     1.90
North Dakota                             1                      44,950.55                     0.15
Ohio                                    31                 1,593,646.23                       5.26
Oregon                                  18                   2,793,656.84                     9.23
Pennsylvania                            16                     999,909.33                     3.30
Tennessee                                4                     163,039.84                     0.54
Texas                                    1                      55,863.46                     0.18
Utah                                     3                     763,608.64                     2.52
Virginia                                 1                      65,568.57                     0.22
Washington                              15                   1,978,181.10                     6.53
West Virginia                            2                      67,407.09                     0.22
Wisconsin                                1                      43,083.41                     0.14
                                         -                      -------                       ----

Totals                                 279             $    30,276,432.22                   100.00 %
                                       ===                  =============                   ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 40
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>

 NUMBER OF MONTHS ELAPSED FROM THE DATE OF ORIGINATION OF THE GROUP II MORTGAGE LOANS

                                                                                     Percentage of Group
                                                                                      II Mortgage Loans
                                    Number of                                            by Aggregate
  Range of Months                 Mortgage Loans      Aggregate Principal Balance     Principal Balance
  ---------------                 --------------      ---------------------------     -----------------
<S>                                   <C>           <C>                                       <C>
  0                                   69            $        7,608,109.90                     25.13 %
  1                                  123                    12,023,059.30                     39.71
  2                                   34                     4,636,363.93                     15.31
  3                                   15                     1,523,234.60                      5.03
  4                                   11                     1,391,058.37                      4.59
  5 -  12                             24                     2,587,715.03                      8.55
 13 -  24                              2                       440,831.95                      1.46
 25 -  48                              1                      66,059.14                        0.22
                                       -                      ----------                       ----

Totals                               279            $      30,276,432.22                     100.00 %
                                     ===                   =============                     ======

                       OCCUPANCY STATUS OF THE MORTGAGED PROPERTIES OF THE GROUP II MORTGAGE LOANS
<CAPTION>
                                                                                           Percentage of Group
                                                                                           II Mortgage Loans
                                 Number of Mortgage                                        by Aggregate
  Occupancy Status                      Loans           Aggregate Principal Balance     Principal Balance
  ----------------                      -----           ---------------------------     -----------------
<S>                                      <C>           <C>                                        <C>
Investment                               22            $         937,296.54                       3.10 %
Owner Occupied                          256                   29,281,580.46                      96.71
Second Home                               1                     57,555.22                         0.19
                                          -              -----------------                        ----

Totals                                  279            $     30,276,432.22                      100.00 %
                                        ===                  =============                      ======

          TYPES OF MORTGAGED PROPERTIES OF THE GROUP II MORTGAGE LOANS
<CAPTION>

                                                                                  Percentage of Group
                                                                                  II Mortgage Loans
                           Number of Mortgage                                        by Aggregate
  Property Type                   Loans           Aggregate Principal Balance     Principal Balance
  -------------                   -----           ---------------------------     -----------------
<S>                                  <C>           <C>                                   <C>
Multi-Family Home                    10            $         806,653.33                  2.66 %
Condominium                           2                      105,199.54                  0.35
Manufactured Homes                   16                    1,158,827.00                  3.83
Single Family Home                  251                 28,205,752.35                   93.16
                                    ---                 --------------                  -----

Totals                              279            $     30,276,432.22                 100.00 %
                                    ===                  =============                 ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
<PAGE>
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2                              PAGE 41
- - --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                 USE OF PROCEEDS OF THE GROUP II MORTGAGE LOANS

                                                                                   Percentage of Group
                                                                                    II Mortgage Loans
                             Number of Mortgage                                        by Aggregate
Use of Proceeds                     Loans           Aggregate Principal Balance     Principal Balance
- - ---------------                     -----           ---------------------------     -----------------
<S>                                    <C>            <C>                                       <C>
Refinance Cash Out                     114            $      11,427,390.07                      37.74 %
Purchase                               112                   13,089,478.20                      43.23
Refinance Rate/Term                     53                  5,759,563.95                        19.02
                                        --                  -------------                       -----

Totals                                 279            $     30,276,432.22                      100.00 %
                                       ===                  =============                      ======

             PROGRAM CLASSIFICATIONS OF THE GROUP II MORTGAGE LOANS

<CAPTION>
                                                                                         Percentage of Group
                                                                                          II Mortgage Loans
                                   Number of Mortgage                                        by Aggregate
Documentation                             Loans           Aggregate Principal Balance     Principal Balance
- - -------------                             -----           ---------------------------     -----------------
<S>                                        <C>          <C>                                    <C>
Alternate                                  8            $       1,098,739.96                   3.63 %
Full                                     221                   23,257,106.00                  76.82
Income Verification                        1                       59,857.62                   0.20
No Income Verification                    49                  5,920,586.26                   19.56
                                          --                  -------------                  -----

Totals                                   279            $     30,276,432.22                  100.00 %
                                         ===                  =============                  ======

                             PREPAYMENT PENALTIES WITH RESPECT TO THE GROUP II MORTGAGE LOANS
<CAPTION>
                                                                                             Percentage of Group
                                                                                              II Mortgage Loans
                                    Number of Mortgage                                        by Aggregate
 Prepayment Penalty                        Loans           Aggregate Principal Balance     Principal Balance
 ------------------                        -----           ---------------------------     -----------------
<S>                                           <C>          <C>                                        <C>
1 Year                                        6            $      1,565,778.46                        5.17 %
2 Year                                       36                   6,856,674.92                       22.65
3 Year                                      224                  21,000,788.15                       69.36
5 Year                                        7                     621,999.03                        2.05
None                                          6                     231,191.66                        0.76
                                              -                     ----------                        ----

Totals                                      279            $     30,276,432.22                      100.00 %
                                            ===                  =============                      ======
</TABLE>
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES

THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.

Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission