<PAGE>
Exhibit 99.1
September 18, 2000
$375,000,000
(Approximate)
GreenPoint [LOGO] Credit
Manufactured Housing Contract Trust
Pass-Through Certificates, Series 2000-5
GreenPoint Credit, LLC
Servicer and Seller
$375,000,000 (Approximate)
-------------------------
-------MBIA Guaranty------
$125,000,000 Auction Rate Class A-1 Certificates
$125,000,000 Auction Rate Class A-2 Certificates
$125,000,000 Auction Rate Class A-3 Certificates
Computational Materials
Neither the Seller, the Servicer, nor the Trust, nor any of its affiliates make
any representations as to the accuracy or completeness of the information
herein. The information herein is preliminary, and will be superseded by the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 addresses
only certain aspects of the applicable certificates' characteristics and thus
does not provide a complete assessment of the certificates. As such, the
information may not reflect the impact of all structural characteristics of the
certificates. The assumptions underlying the information, including structure
and collateral, may be modified from time to time to reflect changed
circumstances. The attached term sheet is not intended to be a Prospectus and
any investment decision with respect to the certificates should be made by you
based solely upon all of the information contained in the final Prospectus and
Prospectus Supplement. Under no circumstances shall the information presented
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the certificates in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction. The certificates may not be sold
nor may an offer to buy be accepted prior to the delivery of a final Prospectus
and Prospectus Supplement relating to the certificates. All information
described herein is preliminary, limited in nature and subject to completion or
amendment. No representation is made that the above referenced certificates will
actually perform as described in any scenario presented. Neither the Seller, the
Servicer, nor the Trust has prepared, reviewed or participated in the
preparation hereof. The Seller, the Servicer and the Trust are not responsible
for the accuracy hereof and they have not authorized its dissemination. A final
Prospectus and Prospectus Supplement may be obtained by contacting Salomon Smith
Barney's Syndicate Desk at (212) 723-6171.
<PAGE>
Certificate Description
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Class A-1 Class A-2 Class A-3
Principal Amount: 125,000,000 125,000,000 125,000,000
Ratings (Moody's/S&P): Aaa/AAA Aaa/AAA Aaa/AAA
Wtd Avg. Life: 1.41 yr 4.52 yr 10.50 yr
Principal Payment Begins: Month 1 Month 33 Month 80
Principal Payment Ends: Month 33 Month 80 Month 157
Principal Payment Window: 33 months 48 months 78 months
Expected Final (to call on A-3): July 2003 June 2007 November 2013
Last Sched. Distribution: November 2017 March 2023 October 2031
First Coupon: 11/6/00 11/13/00 11/14/00
Distribution Date/(1)/: 4/th/ 11/th/ 14/th/
Delay Days: 0 0 0
Accrued Interest: Settles Flat Settles Flat Settles Flat
Coupon Type: Auction Rate Auction Rate Auction Rate
Day Count: Actual/360 Actual/360 Actual/360
Authorized Denominations: $25,000 and $25,000 and $25,000 and
multiples multiples multiples
thereafter thereafter thereafter
ERISA Eligible: Yes Yes Yes
SMMEA: Yes Yes Yes
-------------------------------------------------------------------------------------------------------
</TABLE>
(1) Or the next business day if such a day is not a business day.
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
1
<PAGE>
Title of Securities: GreenPoint Credit Manufactured Housing
Contract Trust Pass-Through Certificates,
Series 2000-5 (together, the "Certificates").
Description of Transaction: The certificates will be insured by MBIA and
have three offered classes of auction rate
certificates (Class A-1, Class A-2 and
Class A-3). The collateral consists of
actuarial and simple interest adjustable rate
manufactured housing installment sales
contracts, installment loan agreements and
certain other assets. The trust will also
issue Class R Certificates which are not being
offered.
Credit Enhancement Credit enhancement for the Class A-1, Class A-
2 and Class A-3 Certificates will be provided
by an insurance policy from MBIA and excess
interest generated by the contracts.
Contract Pool: The contract pool contains approximately 8,148
floating-rate contracts with an aggregate
scheduled principal balance as of August 31,
2000 of approximately $374,998,678.29.
Advances: The Servicer will advance its own funds to
cover any shortfalls in payments of principal
and interest due on the offered certificates
resulting from delinquent payments on the
contracts in any month, to the extent it deems
such amounts recoverable. Any advances made
with respect to a distribution date will not
exceed the amount of delinquent contract
payments that were due in the prior month.
Trustee: Bank One, National Association.
Auction Agent: Bankers Trust Company.
Lead Manager: Salomon Smith Barney.
Seller and Servicer: GreenPoint Credit, LLC.
Cut-Off Date: August 31, 2000.
Pricing Date/(1)/: September 21/22, 2000.
Closing Date/(1)/: September 27, 2000.
Form of Certificates: Book entry form, same day funds (through DTC,
Euroclear and Clearstream).
Prepayment Pricing Speed: 250% MHP.
Optional Termination: 10% clean-up call, or, if the call is not
exercised, a termination auction subject to
certain requirements.
Servicing Fee: The Monthly Servicing Fee will be equal to the
product of one-twelfth of 1.00% of the Pool
Scheduled Principal Balance for the related
distribution date, whether or not the related
scheduled payments on the Contracts are
received. The available distribution amount
will be net of the Monthly Servicing Fee.
_________________________________
/(1)/ Subject to change.
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
2
<PAGE>
Distribution Date Class A-1
---------
The 4/th/ day of each month or, if such day is not
a business day, the next succeeding business day,
beginning on November 6, 2000. Interest and
principal distributions to Certificateholders on
each distribution date are based on a Collection
Period of the second calendar month preceding such
distribution date. Assuming payment on the 4/th/ of
each month, funds are distributed approximately 34
days after the related Collection Period.
Class A-2
---------
The 11/th/ day of each month or, if such day is not
a business day, the next succeeding business day,
beginning on November 13, 2000. Interest and
principal distributions to Certificateholders on
each distribution date are based on a Collection
Period of the second calendar month preceding such
distribution date. Assuming payment on the 11/th/
of each month, funds are distributed approximately
41 days after the related Collection Period.
Class A-3
---------
The 14/th/ day of each month or, if such day is not
a business day, the next succeeding business day,
beginning on November 14, 2000. Interest and
principal distributions to Certificateholders on
each distribution date are based on a Collection
Period of the second calendar month preceding such
distribution date. Assuming payment on the 14/th/
of each month, funds are distributed approximately
44 days after the related Collection Period.
Interest Accrual Period: The Class A-1, Class A-2 and Class A-3 Certificates
will accrue interest at a rate equal to the product
of (i) the actual number of days during the
interest period divided by 360 and (ii) the
applicable pass-through rate on the certificate
balance thereof immediately prior to such
distribution date. For any distribution date, the
interest period for the certificates is the period
from and including the preceding distribution date
(or from the closing date with respect to the first
distribution date) through the day prior to the
related distribution date.
Pass-Through Rates: The Class A-1, Class A-2 and Class A-3 Pass-Through
Rates will be adjusted each month as specified by
the auction procedures as described in Annex II and
Annex III in the prospectus supplement. The pass-
through rates on the offered certificates are
capped at the weighted average of the net contract
rates of the contracts. The amount of interest due
in excess of the net contract rates ("Net Funds Cap
Carryover Amount") is not rated by the rating
agencies or guaranteed under the MBIA policy but is
payable to Certificateholders to the extent of
funds available therefor before any funds are
distributed to the Class R Certificates.
The Net Contract Rate is defined as (a) for the
first twelve Distribution Dates, the related
Contract Rate on the first day of the related
Collection Period minus 1.00% and (b) for each
Distribution Date thereafter, the related Contract
Rate on the first date of the related Collection
Period minus 1.50%.
Principal Distribution: The available distribution amount with respect to
the contracts remaining after the distribution of
interest on the Certificates and the payment of
certain fees and expenses of the Trust will be
distributed to the Class A-1, Class A-2, Class A-3
Certificates in the order described under
"Distributions of Principal and Interest" below.
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
3
<PAGE>
Allocation of Losses: In the event that losses on the contracts reduce
the amounts available for distribution to the Class
A-1, Class A-2, and Class A-3 Certificates and
there is no payment under the certificate insurance
policy, losses will be allocated pro rata among the
Class A-1, Class A-2, and Class A-3 Certificates.
Certificate Insurer: Timely interest and principal payments on the
Certificates will be guaranteed by MBIA Insurance
Corporation ("MBIA"). MBIA's claims-paying ability
is rated AAA/Aaa by Standard & Poor's and Moody's,
respectively. Payments of Net Funds Cap Carryover
Amounts (as defined in the Prospectus Supplement)
are not guaranteed by MBIA.
ERISA Considerations: Class A-1, Class A-2, and Class A-3 Certificates
are ERISA-eligible.
Taxation: REMIC for federal income tax purposes.
Legal Investment: Class A-1, Class A-2, and Class A-3 Certificates
will be SMMEA-eligible.
Prospectus: The Certificates are being offered pursuant to a
Prospectus supplemented by a Prospectus Supplement
(together, the "Prospectus"). Complete information
with respect to the Certificates and the collateral
securing them is contained in the Prospectus. The
information herein is qualified in its entirety by
the information appearing in the Prospectus. To the
extent that anything herein is inconsistent with
the Prospectus, the Prospectus shall govern in all
respects. Sales of the Certificates may not be
consummated unless the purchaser has received the
Prospectus.
Payments on Auction Rate Securities
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
Initial First
Class Amount Collection Accrual First Auction Auction Date Distribution Distribution
Period Period Auction Period Date Date
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 $125,000,000 9/1/2000 40 days 11/3/2000 1 month Business day before 11/6/2000 4/th/ of each
--9/30/2000 distribution date month
A-2 $125,000,000 9/1/2000 47 days 11/10/2000 1 month Business day before 11/13/2000 11/th/ of each
--9/30/2000 0 distribution date month
A-3 $125,000,000 9/1/2000 48 days 11/13/2000 1 month Business day before 11/14/2000 14/th/ of each
--9/30/2000 0 distribution date month
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
4
<PAGE>
Distributions of Principal and Interest
Amounts distributable to holders of the Certificates shall be allocated on each
Distribution Date in the following order of priority:
1. to pay interest on the Class A-1, Class A-2 and Class A-3 Certificates, pro
rata based on the amount of interest to which they are entitled;
2. to pay principal of the Class A-1 Certificates until the Class A-1
Certificate Balance is reduced to zero; then to pay principal of the Class
A-2 Certificates until the Class A-2 Certificate Balance is reduced to
zero; then to pay principal of the Class A-3 Certificates until the Class
A-3 Certificate Balance is reduced to zero;
3. to make deposits, if required, to the Special Account as established under
and required by the Insurance Agreement;
4. to pay any applicable Net Funds Cap Carryover Amounts (as defined in the
Prospectus Supplement) to the Class A-1, Class A-2 and Class A-3
Certificateholders pro rata on the basis of the Class A-1, Class A-2 and
Class A-3 Net Funds Cap Carryover Amount (as defined in the Prospectus
Supplement), respectively;
5. to pay the Auction Agent certain amounts that may be required to be paid
pursuant to the pooling agreement; and
6. to pay any remaining available funds to the holder of the Class R
Certificate
The Contract Pool
The information herein regarding the collateral represents the initial Contract
Pool as of the Cut-off Date. The information herein will be superseded by the
information regarding the collateral set forth in the Prospectus.
Characteristics of GreenPoint Manufactured Housing Collateral
-------------------------- ---------------------------
Collateral 2000-5
-------------------------- ---------------------------
Principal Amount ($MM) $374,998,678.29
Number of Loans 8,148
Average Loan Balance $46,023.40
Wtd. Avg. Rem. Term 301.5 months
Wtd. Avg. Seasoning 1.6 months
Wtd. Avg. APR 9.92%
Wtd. Avg. LTV 88.52%
Percent LTV>=91.0% (by $) 25.74%
% New Contracts (by $) 89.6%
Top 5 States TX 10.94%
NC 8.60%
GA 7.74%
FL 6.86%
AL 5.27%
Wtd. Avg. Periodic Cap 2.00%
Wtd. Avg. Lifetime Cap 14.92%
Index 99.91% 12M LIBOR
0.09% 1-year CMT
Wtd. Avg. Margin 4.80%
Land Homes 22.7%
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
5
<PAGE>
COLLATERAL TABLES
-----------------
Geographical Distribution of Manufactured Homes
State Count Balance % by Balance
---------------------------------------------------------------------
Alabama 451 $ 19,774,508.67 5.27
Arizona 169 8,507,490.95 2.27
Arkansas 162 6,704,820.97 1.79
California 31 1,213,501.26 0.32
Colorado 47 2,233,938.62 0.60
Delaware 12 480,887.35 0.13
Florida 464 25,735,411.41 6.86
Georgia 615 29,021,110.47 7.74
Idaho 64 3,716,828.53 0.99
Illinois 116 5,066,565.90 1.35
Indiana 182 9,000,554.16 2.40
Iowa 181 7,015,837.08 1.87
Kansas 94 4,160,833.29 1.11
Kentucky 366 16,686,825.03 4.45
Louisiana 150 6,090,699.05 1.62
Maine 11 710,673.67 0.19
Maryland 27 1,199,488.88 0.32
Michigan 221 10,115,174.82 2.70
Minnesota 169 6,661,709.27 1.78
Mississippi 484 18,465,477.21 4.92
Missouri 365 13,949,667.61 3.72
Montana 62 2,815,945.07 0.75
Nebraska 42 2,019,169.06 0.54
Nevada 79 4,588,892.52 1.22
New Hampshire 8 370,439.75 0.10
New Mexico 104 5,160,406.61 1.38
New York 27 1,316,325.53 0.35
North Carolina 636 32,251,185.35 8.60
North Dakota 38 1,686,462.91 0.45
Ohio 151 7,619,584.75 2.03
Oklahoma 155 6,325,983.85 1.69
Oregon 139 8,527,196.76 2.27
Pennsylvania 49 2,088,753.24 0.56
South Carolina 254 11,102,431.07 2.96
South Dakota 138 6,509,157.01 1.74
Tennessee 268 12,702,838.84 3.39
Texas 934 41,036,531.69 10.94
Utah 54 2,956,888.41 0.79
Vermont 13 759,177.11 0.20
Virginia 137 6,837,795.42 1.82
Washington 134 8,488,360.21 2.26
West Virginia 167 6,428,006.17 1.71
Wisconsin 154 5,641,243.21 1.50
Wyoming 24 1,253,899.55 0.33
---------------------------------------------------------------------
Total 8,148 $374,998,678.29 100.00
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
6
<PAGE>
Distribution of Original Principal Balances
<TABLE>
<CAPTION>
Original Principal Count Balance % by Balance
Balance
---------------------------------------------------------------------
<S> <C> <C> <C>
4,254 - 5,000 3 $ 13,005.00 0.00
5,001 - 7,500 6 39,075.84 0.01
7,501 - 10,000 45 399,499.30 0.11
10,001 - 12,500 62 689,262.40 0.18
12,501 - 15,000 97 1,324,593.87 0.35
15,001 - 17,500 132 2,109,644.46 0.56
17,501 - 20,000 143 2,658,064.45 0.71
20,001 - 22,500 203 4,293,640.19 1.14
22,501 - 25,000 272 6,461,617.99 1.72
25,001 - 27,500 381 9,970,718.73 2.66
27,501 - 30,000 413 11,860,557.55 3.16
30,001 - 32,500 429 13,336,919.13 3.56
32,501 - 35,000 454 15,297,643.95 4.08
35,001 - 40,000 889 33,236,643.20 8.86
40,001 - 45,000 846 35,847,283.34 9.56
45,001 - 50,000 808 38,298,983.59 10.21
50,001 - 55,000 724 37,885,981.79 10.10
55,001 - 60,000 582 33,327,128.57 8.89
60,001 - 65,000 447 27,822,599.32 7.42
65,001 - 70,000 297 19,971,168.19 5.33
70,001 - 75,000 226 16,275,229.56 4.34
75,001 - 80,000 159 12,251,835.06 3.27
80,001 - 85,000 120 9,867,933.64 2.63
85,001 - 232,156 410 41,759,649.17 11.14
---------------------------------------------------------------------
Avg $46,158.32 8,148 $374,998,678.29 100.00
</TABLE>
Distribution of Original Loan-to-Value Ratios
<TABLE>
<CAPTION>
LTV (%) Count Balance % by Balance
---------------------------------------------------------------------
<S> <C> <C> <C>
20.118 - 50.499 69 $ 1,526,971.65 0.41
50.500 - 60.499 65 2,093,743.63 0.56
60.500 - 70.499 142 6,105,625.53 1.63
70.500 - 80.499 781 35,065,563.74 9.35
80.500 - 85.499 878 41,409,442.03 11.04
85.500 - 90.499 3,951 182,147,513.93 48.57
90.500 - 95.499 2,115 101,236,323.63 27.00
95.500 - 99.282 147 5,413,494.15 1.44
---------------------------------------------------------------------
Wtd 88.522 8,148 $374,998,678.29 100.00
Avg
</TABLE>
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
7
<PAGE>
Distribution of Contract Rates
<TABLE>
<CAPTION>
Contract Rate (%) Count Balance % by Balance
------------------------------------------------------------------
<S> <C> <C> <C>
5.75 - 5.99 1 $ 85,854.19 0.02
6.00 - 6.24 12 975,477.51 0.26
6.25 - 6.49 17 1,274,955.35 0.34
6.50 - 6.74 22 1,443,435.25 0.38
6.75 - 6.99 46 3,722,623.18 0.99
7.00 - 7.24 86 5,975,675.89 1.59
7.25 - 7.49 127 8,413,861.79 2.24
7.50 - 7.74 250 19,027,587.77 5.07
7.75 - 7.99 228 14,156,143.30 3.77
8.00 - 8.24 200 11,789,619.78 3.14
8.25 - 8.49 287 16,642,141.83 4.44
8.50 - 8.74 396 25,079,634.95 6.69
8.75 - 8.99 322 18,210,724.21 4.86
9.00 - 9.24 250 13,617,650.77 3.63
9.25 - 9.49 452 22,248,620.06 5.93
9.50 - 9.74 417 20,718,060.00 5.52
9.75 - 9.99 378 18,274,414.24 4.87
10.00 - 10.24 504 23,342,070.19 6.22
10.25 - 10.49 266 11,492,255.66 3.06
10.50 - 10.74 357 15,347,515.72 4.09
10.75 - 10.99 328 13,700,265.06 3.65
11.00 - 11.24 458 19,434,618.30 5.18
11.25 - 11.49 303 11,499,150.74 3.07
11.50 - 11.74 328 13,721,766.48 3.66
11.75 - 11.99 210 7,655,628.15 2.04
12.00 - 12.24 260 9,598,399.19 2.56
12.25 - 12.49 205 6,516,102.12 1.74
12.50 - 12.74 171 5,734,724.23 1.53
12.75 - 12.99 183 5,524,449.04 1.47
13.00 - 13.24 142 4,488,000.50 1.20
13.25 - 13.49 171 4,832,695.20 1.29
13.50 - 13.74 93 3,141,246.42 0.84
13.75 - 13.99 89 2,537,525.62 0.68
14.00 - 14.24 118 3,246,511.71 0.87
14.25 - 14.49 75 1,960,614.84 0.52
14.50 - 14.74 43 1,124,585.51 0.30
14.75 - 14.99 65 1,526,430.38 0.41
15.00 - 19.50 288 6,917,643.16 1.84
------------------------------------------------------------------
Wtd Avg 9.92 8,148 $374,998,678.29 100.00
</TABLE>
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
8
<PAGE>
Distribution of Remaining Months to Maturity
Mos. to Maturity Count Balance % by Balance
--------------------------------------------------------------------
9 - 30 3 $ 17,805.72 0.00
31 - 60 24 305,271.66 0.08
61 - 90 47 887,955.22 0.24
91 - 120 261 4,754,463.46 1.27
121 - 150 65 1,497,360.52 0.40
151 - 180 845 23,575,077.78 6.29
181 - 210 5 190,663.43 0.05
211 - 240 3,103 119,156,548.17 31.78
241 - 270 1 64,730.00 0.02
271 - 300 190 9,880,378.70 2.63
301 - 360 3,604 214,668,423.63 57.25
--------------------------------------------------------------------
Wtd 301.5 8,148 $374,998,678.29 100.00
Avg
Distribution of Maximum Cap
Max Cap (%) Count Balance % by Balance
---------------------------------------------------------------------
10.75 - 11.00 13 $ 1,061,331.70 0.28
11.01 - 11.50 39 2,718,390.60 0.72
11.51 - 12.00 132 9,698,299.07 2.59
12.01 - 12.50 377 27,441,449.56 7.32
12.51 - 13.00 426 25,830,620.18 6.89
13.01 - 13.50 683 41,712,468.66 11.12
13.51 - 14.00 574 31,952,826.00 8.52
14.01 - 14.50 867 42,837,417.00 11.42
14.51 - 15.00 883 41,647,963.45 11.11
15.01 - 15.50 622 26,793,202.77 7.14
15.51 - 16.00 788 33,279,236.01 8.87
16.01 - 16.50 631 25,220,917.22 6.73
16.51 - 17.00 470 17,254,027.34 4.60
17.01 - 17.50 376 12,250,826.35 3.27
17.51 - 18.00 324 9,976,197.07 2.66
18.01 - 18.50 264 7,968,277.34 2.12
18.51 - 19.00 209 5,841,359.27 1.56
19.01 - 19.50 117 3,069,795.16 0.82
19.51 - 20.00 121 3,024,195.58 0.81
20.01 - 24.50 232 5,419,877.96 1.45
--------------------------------------------------------------------
Wtd Avg 14.92 8,148 $374,998,678.29 100.00
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
9
<PAGE>
Distribution of Gross Margins
Gross Margin (%) Count Balance % by Balance
-------------------------------------------------------------
0.50 - 0.50 1 $ 62,075.88 0.02
0.51 - 1.00 14 1,088,202.82 0.29
1.01 - 1.50 55 3,841,517.34 1.02
1.51 - 2.00 206 15,296,592.14 4.08
2.01 - 2.50 292 17,870,569.88 4.77
2.51 - 3.00 553 35,524,998.03 9.47
3.01 - 3.50 584 32,595,553.42 8.69
3.51 - 4.00 733 42,861,427.27 11.43
4.01 - 4.50 918 44,972,930.76 11.99
4.51 - 5.00 757 35,424,880.35 9.45
5.01 - 5.50 784 33,611,087.43 8.96
5.51 - 6.00 761 31,126,217.45 8.30
6.01 - 6.50 544 22,115,582.43 5.90
6.51 - 7.00 479 16,612,869.38 4.43
7.01 - 7.50 350 11,321,042.10 3.02
7.51 - 8.00 313 9,379,908.52 2.50
8.01 - 14.50 804 21,293,223.09 5.68
-------------------------------------------------------------
Wtd Avg 4.80 8,148 $374,998,678.29 100.00
Distribution of Next Adjustment Date
Month Count Balance % by Balance
-------------------------------------------------------------
Sep-00 2 $ 221,379.84 0.06
Oct-00 2 207,395.92 0.06
Nov-00 6 534,260.60 0.14
Dec-00 11 826,962.49 0.22
Jan-01 22 1,753,144.04 0.47
Feb-01 51 4,151,028.97 1.11
Mar-01 127 10,173,684.02 2.71
Apr-01 240 18,422,678.25 4.91
May-01 2,213 100,721,606.07 26.86
Jun-01 2,301 101,466,267.38 27.06
Jul-01 1,867 81,051,211.85 21.61
Aug-01 1,279 54,534,412.72 14.54
Jun-02 2 71,674.11 0.02
Jul-02 10 413,850.66 0.11
Aug-02 6 239,921.35 0.06
Nov-02 1 15,197.32 0.00
May-03 6 119,758.93 0.03
Jun-03 2 74,243.77 0.02
-------------------------------------------------------------
Total 8,148 $374,998,678.29 100.00
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
10
<PAGE>
Net Funds Cap Schedule
Assumptions
Closing Date: September 27, 2000
1-Yr Libor: 20%
1-Yr CMT: 20%
30/360
Rate
Period Date Cap
0 09/18/2000 -
1 10/20/2000 8.92133
2 11/20/2000 8.92265
3 12/20/2000 8.92357
4 01/20/2001 8.92371
5 02/20/2001 8.92385
6 03/20/2001 8.92400
7 04/20/2001 8.92414
8 05/20/2001 8.92616
9 06/20/2001 8.92631
10 07/20/2001 9.65132
11 08/20/2001 10.19195
12 09/20/2001 10.62496
13 10/20/2001 10.41804
14 11/20/2001 10.41932
15 12/20/2001 10.42024
16 01/20/2002 10.42039
17 02/20/2002 10.42054
18 03/20/2002 10.42069
19 04/20/2002 10.42084
20 05/20/2002 10.42284
21 06/20/2002 10.42299
22 07/20/2002 11.14557
23 08/20/2002 11.68606
24 09/20/2002 12.12197
25 10/20/2002 12.41696
26 11/20/2002 12.41753
27 12/20/2002 12.41792
28 01/20/2003 12.41793
29 02/20/2003 12.42025
30 03/20/2003 12.42025
31 04/20/2003 12.42025
32 05/20/2003 12.42117
33 06/20/2003 12.42117
34 07/20/2003 12.78322
35 08/20/2003 13.05358
36 09/20/2003 13.27282
37 10/20/2003 13.42031
38 11/20/2003 13.42031
39 12/20/2003 13.42031
40 01/20/2004 13.42031
41 02/20/2004 13.42259
42 03/20/2004 13.42259
43 04/20/2004 13.42258
44 05/20/2004 13.42258
45 06/20/2004 13.42257
46 07/20/2004 13.42256
47 08/20/2004 13.42275
48 09/20/2004 13.42382
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
11
<PAGE>
Maturity Matrix
Settle 9/27/2000
A-1 First Pay 11/4/2000
A-2 First Pay 11/11/2000
A-3 First Pay 11/14/2000
Class Balance
IIA-1 125,000,000.00
IIA-2 125,000,000.00
IIA-3 125,000,000.00
1YR CMT 6.19700%
1YR LIBOR 6.87750%
<TABLE>
<CAPTION>
To Call
------------------------------------------------------------------------------------------------
Scenario 0% 150% 200% 250% 300% 350% 400%
MHP MHP MHP MHP MHP MHP MHP
------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Class IIA-1 WAL 10.73 2.14 1.69 1.41 1.21 1.06 0.95
----------------------------------------------------------------------------------
Maturity 4/2017 1/2005 2/2004 7/2003 2/2003 10/2002 8/2002
------------------------------------------------------------------------------------------------
Class IIA-2 WAL 19.51 7.09 5.53 4.52 3.82 3.31 2.92
----------------------------------------------------------------------------------
Maturity 8/2022 3/2011 12/2008 6/2007 5/2006 8/2005 1/2005
------------------------------------------------------------------------------------------------
Class IIA-3 WAL 23.51 15.46 12.67 10.50 8.91 7.66 6.72
----------------------------------------------------------------------------------
Maturity 1/2025 5/2019 6/2016 11/2013 12/2011 5/2010 3/2009
------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
To Maturity
------------------------------------------------------------------------------------------------
Scenarios 0% 150% 200% 250% 300% 350% 400%
MHP MHP MHP MHP MHP MHP MHP
------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-1 WAL 10.73 2.14 1.69 1.41 1.21 1.06 0.95
----------------------------------------------------------------------------------
Maturity 4/2017 1/2005 2/2004 7/2003 2/2003 10/2002 8/2002
------------------------------------------------------------------------------------------------
Class A-2 WAL 19.51 7.09 5.53 4.52 3.82 3.31 2.92
----------------------------------------------------------------------------------
Maturity 8/2022 3/2011 12/2008 6/2007 5/2006 8/2005 1/2005
------------------------------------------------------------------------------------------------
Class A-3 WAL 23.73 16.37 13.80 11.71 10.05 8.74 7.68
----------------------------------------------------------------------------------
Maturity 7/2030 7/2030 7/2030 7/2030 7/2030 7/2030 7/2030
------------------------------------------------------------------------------------------------
</TABLE>
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
12
