SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: November 3, 1999
(Date of earliest event reported)
Commission File No.: 333-56213
ACE Securities Corp.
Delaware 56-2088493
- --------------------------------------------------------------------------------
(State of Incorporation) (I.R.S. Employer
Identification No.)
6525 Morrison Boulevard, Suite 318
Charlotte, North Carolina 28211
- --------------------------------------------------------------------------------
Address of principal executive offices (Zip Code)
(704) 365-0569
Registrant's Telephone Number, including area code
(Former name, former address and former fiscal year, if changed since last
report)
<PAGE>
ITEM 5. Other Events
Attached as an exhibit are the Collateral Term Sheets (as defined in
the no-action letter dated February 17, 1995 issued by the Securities and
Exchange Commission to the Public Securities Association) which are hereby filed
pursuant to such letter.
<PAGE>
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
- ----------- -----------
(99) Collateral Term Sheets
prepared in connection with Mortgage
Lenders Network Home Equity
Loan Trust 1999-2, Asset-Backed
Notes, Series 1999-2
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACE SECURITIES CORP.
November 3, 1999
By: /s/ Elizabeth Eldridge
----------------------
Elizabeth Eldridge
Vice President
<PAGE>
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
- ----------- ----------- --------------
(99) Collateral Term Sheets E
prepared in connection with
Mortgage Lenders Network
Home Equity Loan Trust
1999-2, Asset-Backed Notes,
Series 1999-2
<PAGE>
Exhibit No. 99
Deutsche Bank Securities @
Conforming Balance; Fixed Rate
1,314 records
Mortgage Lenders Network
PRELIMINARY
================================================================================
Selection Criteria: Conforming Balance; Fixed Rate
Table of Contents
1. Pool Summary
2. Data as of Date
3. Current Balance
4. Original Balance
5. Current Gross Rate
6. Amortization Type
7. Original Term
8. Stated Remaining Term
9. Age
10. Remaining Amortization Term
11. Original LTV
12. State Concentration
13. Occupancy Type
14. Property Type
15. Loan Purpose
16. Documentation Type
17. Product
18. Debt Ratios
19. FICO Score
20. Grade
21. PrePayment Month
================================================================================
1. Pool Summary
Balance: 84,050,032.47
WAC: 10.8658
Count: 1,314
================================================================================
2. Data as of Date
Data as of Date %
1999-10-01 100.0
Total: 100.0
3. Current Balance
Current Balance # % Balance
=< 100,000.00 1,164 75.844 63,747,119.89
100,000.01 - 200,000.00 141 21.762 18,290,851.50
200,000.01 - 250,000.00 9 2.394 2,012,061.08
Total: 1,314 100.000 84,050,032.47
Avg: 63,965.02
Max: 238,500.00
4. Original Balance
Original Balance # % Balance
=< 100,000 1,164 75.844 63,747,119.89
100,001 - 200,000 141 21.762 18,290,851.50
200,001 - 250,000 9 2.394 2,012,061.08
Total: 1,314 100.000 84,050,032.47
Max: 238,500
5. Current Gross Rate
Current Gross Rate # % Balance
7.001 - 7.500 1 0.280 235,000.00
7.501 - 8.000 10 1.056 887,233.11
8.001 - 8.500 24 1.925 1,617,643.12
8.501 - 9.000 92 7.781 6,540,160.93
9.001 - 9.500 73 6.003 5,045,787.48
9.501 - 10.000 146 11.326 9,519,547.82
10.001 - 10.500 138 11.357 9,545,387.48
10.501 - 11.000 216 17.546 14,747,035.47
11.001 - 11.500 160 12.121 10,187,492.04
11.501 - 12.000 169 11.121 9,346,994.56
12.001 - 12.500 127 8.973 7,541,590.10
12.501 - 13.000 82 5.427 4,561,428.16
13.001 - 13.500 32 2.236 1,879,293.10
13.501 - 14.000 28 1.845 1,550,741.70
14.001 - 14.500 10 0.426 358,463.47
14.501 - 15.000 5 0.339 284,533.93
15.001 - 16.000 1 0.240 201,700.00
Total: 1,314 100.000 84,050,032.47
Wgt Avg: 10.8658
Min: 7.4500
Max: 15.7500
6. Amortization Type
Amortization Type # % Balance
Fully Amortizing 706 52.023 43,725,336.90
Balloon 608 47.977 40,324,695.57
Total: 1,314 100.000 84,050,032.47
7. Original Term
Original Term # % Balance
49 - 60 1 0.012 9,734.52
85 - 96 1 0.026 22,080.73
109 - 120 19 0.561 471,521.42
145 - 156 1 0.036 30,453.21
169 - 180 763 56.335 47,349,761.06
229 - 240 119 7.838 6,587,597.06
289 - 300 31 2.521 2,119,012.44
349 - 360 379 32.671 27,459,872.03
Total: 1,314 100.000 84,050,032.47
Wgt Avg: 246.2
8. Stated Remaining Term
Stated Remaining Term # % Balance
1 - 60 1 0.012 9,734.52
61 - 120 20 0.587 493,602.15
121 - 180 763 56.277 47,300,714.27
181 - 240 120 7.932 6,667,097.06
241 - 300 31 2.521 2,119,012.44
301 - 360 379 32.671 27,459,872.03
Total: 1,314 100.000 84,050,032.47
Wgt Avg: 244.3
Min: 57.0
Max: 360.0
9. Age
Age # % Balance
0 299 22.951 19,289,986.33
1 394 30.026 25,236,928.43
2 242 18.533 15,577,239.77
3 132 9.961 8,371,826.77
4 116 8.020 6,740,476.94
5 82 6.336 5,325,697.66
6 33 2.968 2,494,666.42
7 16 1.205 1,013,210.15
Total: 1,314 100.000 84,050,032.47
Wgt Avg: 1.9
10. Remaining Amortization Term
Remaining Amortization Term # % Balance
1 - 60 1 0.012 9,734.52
61 - 120 20 0.587 493,602.15
121 - 180 155 8.300 6,976,018.70
181 - 240 120 7.932 6,667,097.06
241 - 300 31 2.521 2,119,012.44
301 - 360 987 80.648 67,784,567.60
Total: 1,314 100.000 84,050,032.47
Wgt Avg: 330.6
Min: 57.0
Max: 360.0
11. Original LTV
Original LTV # % Balance
=< 60.000 181 8.459 7,110,039.64
60.001 - 70.000 172 10.650 8,950,993.64
70.001 - 80.000 729 58.672 49,313,654.87
80.001 - 85.000 160 15.000 12,607,559.62
85.001 - 90.000 70 7.061 5,934,823.27
90.001 - 95.000 2 0.158 132,961.43
Total: 1,314 100.000 84,050,032.47
Wgt Avg: 75.90
Max: 95.00
12. State Concentration
State Concentration # % Balance
SC 137 10.174 8,550,892.99
OH 95 6.995 5,879,511.62
TN 99 6.986 5,871,354.88
NY 64 6.553 5,507,883.42
NC 78 5.948 4,999,415.52
IL 66 5.199 4,369,609.82
GA 59 5.065 4,257,291.09
PA 72 5.059 4,252,200.88
MD 66 5.017 4,217,086.93
FL 76 4.941 4,152,513.43
Other 502 38.063 31,992,271.89
Total: 1,314 100.000 84,050,032.47
#: 44
13. Occupancy Type
Occupancy Type # % Balance
Primary 1,170 90.575 76,128,449.01
Secondary 3 0.274 230,407.33
Investor 141 9.151 7,691,176.13
Total: 1,314 100.000 84,050,032.47
14. Property Type
Property Type # % Balance
Single Family 917 70.611 59,348,264.84
2-4 Family 78 5.996 5,039,672.06
PUD 7 0.645 542,332.87
Condo 28 2.163 1,817,743.59
Manufactured Housing 284 20.585 17,302,019.11
Total: 1,314 100.000 84,050,032.47
15. Loan Purpose
Loan Purpose # % Balance
Purchase 238 19.704 16,560,839.92
Rate/Term Refi 16 1.371 1,151,926.67
Cash Out Refi 1,060 78.926 66,337,265.88
Total: 1,314 100.000 84,050,032.47
16. Documentation Type
Documentation Type # % Balance
Full Documentation 1,115 84.656 71,153,738.93
Limited 59 5.108 4,293,556.97
Stated 140 10.235 8,602,736.57
Total: 1,314 100.000 84,050,032.47
17. Product
Product # % Balance
30 Year Fixed Rate 529 43.030 36,166,481.53
15 Year Fixed Rate 785 56.970 47,883,550.94
Total: 1,314 100.000 84,050,032.47
18. Debt Ratios
Debt Ratios # % Balance
=< 28.00 226 14.693 12,349,074.66
28.01 - 32.00 134 9.778 8,218,802.35
32.01 - 36.00 145 10.203 8,575,297.34
36.01 - 42.00 235 18.173 15,273,998.93
42.01 - 46.00 216 17.054 14,333,560.01
46.01 >= 358 30.100 25,299,299.18
Total: 1,314 100.000 84,050,032.47
Wgt. Avg: 38.893
19. FICO Score
FICO Score # % Balance
=<540.000 330 24.806 20,849,476.39
540.001 - 560.000 165 12.724 10,694,543.43
560.001 - 580.000 185 13.433 11,290,680.36
580.001 - 600.000 164 13.013 10,937,493.58
600.001 - 620.000 137 10.851 9,120,591.62
620.001 - 640.000 122 8.932 7,507,646.52
640.001 - 660.000 76 5.958 5,007,639.26
660.001 - 680.000 59 4.027 3,384,866.42
680.001 >= 76 6.255 5,257,094.89
Total: 1,314 100.000 84,050,032.47
Wgt. Avg: 586.551
Max: 801.000
Min: 0.000
20. Grade
Grade # % Balance
A 279 22.025 18,511,865.08
AA 1 0.139 116,794.46
A+ 205 16.157 13,579,731.56
B 183 14.414 12,115,341.92
B+ 143 11.553 9,710,109.94
C 295 20.822 17,500,707.27
C- 85 5.874 4,936,982.39
C+ 82 6.162 5,178,898.42
D 41 2.855 2,399,601.43
Total: 1,314 100.000 84,050,032.47
21. PrePayment Month
PrePayment Month # % Balance
000 544 39.794 33,446,655.37
100 5 0.421 353,802.20
111 46 3.431 2,883,905.97
1111 1 2 0.164 137,523.06
200 3 0.119 100,161.13
211 1 0.220 185,233.78
221 2 0.250 209,851.46
222 22 1.337 1,123,407.07
2222 2 5 0.654 549,519.62
300 10 0.738 620,050.52
320 1 0.047 39,900.00
321 426 31.497 26,473,263.08
3211 1 1 0.042 35,700.00
3222 1 0.071 60,000.00
3222 2 1 0.073 61,558.21
3322 19 1.463 1,229,835.05
3322 1 4 0.323 271,196.03
3322 2 172 13.878 11,664,784.98
333 3 0.170 142,975.61
3332 2 1 0.088 74,250.00
400 1 0.126 105,561.09
500 42 5.002 4,203,990.56
521 1 0.042 35,707.68
5555 5 1 0.049 41,200.00
Total: 1,314 100.000 84,050,032.47
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileded and confidential, is intended for use by the addressee only, and 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. Prospective investors are advised to read carefully, and rely
solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevent information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representaion or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forcasts, predictions, or opinions with respect to value. Prior to
making any investment decisions, a prospective investor shall receive and fully
review the final Prospectus . NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein.
<PAGE>
Deutsche Bank Securities @
Conforming Balance; ARMS
144 records
Mortgage Lenders Network
PRELIMINARY
================================================================================
Selection Criteria: Conforming Balance; ARMS
Table of Contents
1. Pool Summary
2. Data as of Date
3. Current Balance
4. Original Balance
5. Current Gross Rate
6. Amortization Type
7. Original Term
8. Stated Remaining Term
9. Age
10. Remaining Amort Term
11. Gross Margin
12. Maximum Rate
13. Lifetime Rate Cap
14. First Periodic Rate Cap
15. Subsequent Periodic Rate Cap
16. Next Rate Adjustment
17. Months to Roll
18. Original LTV
19. Combined LTV
20. State Concentration
21. Occupancy Type
22. Property Type
23. Loan Purpose
24. Documentation Type
25. Product
26. Debt Ratios
27. FICO Score
28. Grade
29. PrePayment Month
================================================================================
1. Pool Summary
Balance: 11,450,997.37
WAC: 10.8087
Count: 144
================================================================================
2. Data as of Date
2. Data as of Date
Date as of Date %
1999-10-01 100.0
Total: 100.0
3. Current Balance
Current Balance # % Balance
=< 100,000.00 114 64.422 7,376,964.56
100,000.01 - 200,000.00 28 31.797 3,641,032.81
200,000.01 - 250,000.00 2 3.781 433,000.00
Total: 144 100.000 11,450,997.37
Avg: 79,520.82
Min: 20,905.63
Max: 221,000.00
4. Original Balance
Original Balance # % Balance
=< 100,000 114 64.422 7,376,964.56
100,001 - 200,000 28 31.797 3,641,032.81
200,001 - 250,000 2 3.781 433,000.00
Total: 144 100.000 11,450,997.37
Avg: 79,557
Min: 21,000
Max: 221,000
5. Current Gross Rate
Current Gross Rate # % Balance
7.501 - 8.000 1 0.503 57,600.00
8.001 - 8.500 1 0.681 77,973.60
8.501 - 9.000 4 3.646 417,520.00
9.001 - 9.500 3 2.908 332,938.71
9.501 - 10.000 21 14.554 1,666,626.85
10.001 - 10.500 26 17.992 2,060,301.75
10.501 - 11.000 37 27.895 3,194,272.87
11.001 - 11.500 14 9.739 1,115,176.48
11.501 - 12.000 14 9.911 1,134,858.13
12.001 - 12.500 13 6.275 718,513.05
12.501 - 13.000 7 4.477 512,615.93
13.001 - 13.500 1 0.355 40,600.00
13.501 - 14.000 1 0.723 82,800.00
14.501 - 15.000 1 0.342 39,200.00
Total: 144 100.000 11,450,997.37
Wgt Avg: 10.8087
Min: 7.9000
Max: 14.5500
6. Amortization Type
Amortization Type # % Balance
Fully Amortizing 144 100.000 11,450,997.37
Total: 144 100.000 11,450,997.37
7. Original Term
Original Term # % Balance
169 - 180 1 0.681 78,000.00
349 - 360 143 99.319 11,372,997.37
Total: 144 100.000 11,450,997.37
Wgt Avg: 358.8
Min: 180
Max: 360
8. Stated Remaining Term
Stated Remaining Term # % Balance
121 - 180 1 0.681 78,000.00
301 - 360 143 99.319 11,372,997.37
Total: 144 100.000 11,450,997.37
Wgt Avg: 357.4
Min: 180.0
Max: 360.0
9. Age
Age # % Balance
0 47 32.65 3,738,615
1 55 38.66 4,427,141
2 14 8.94 1,024,015
3 12 8.70 996,755
4 3 1.62 185,497
5 7 5.99 685,779
6 3 1.61 183,897
7 2 1.46 166,653
9 1 0.37 42,645
Total: 144 100.00 11,450,997
Wgt Avg: 1.4
10. Remaining Amort Term
Remaining Amort Term # % Balance
121 - 180 1 0.681 78,000.00
301 - 360 143 99.319 11,372,997.37
Total: 144 100.000 11,450,997.37
Wgt Avg: 357.4
Min: 180.0
Max: 360.0
11. Gross Margin
Gross Margin # % Balance
4.501 - 4.750 1 0.503 57,600.00
5.001 - 5.250 1 0.681 77,973.60
5.251 - 5.500 2 1.331 152,400.00
5.501 - 5.750 1 1.851 212,000.00
5.751 - 6.000 1 0.505 57,771.56
6.001 - 6.250 4 2.643 302,648.46
6.251 - 6.500 13 8.415 963,562.84
6.501 - 6.750 12 9.351 1,070,761.99
6.751 - 7.000 11 6.637 759,950.93
7.001 - 7.250 16 13.054 1,494,858.19
7.251 - 7.500 15 8.856 1,014,055.28
7.501 - 7.750 18 13.690 1,567,691.05
7.751 - 8.000 13 10.229 1,171,285.36
8.001 - 8.250 3 2.483 284,350.00
8.251 - 8.500 6 5.676 649,936.45
8.501 - 8.750 11 5.517 631,750.10
8.751 - 9.000 4 1.617 185,185.63
9.001 - 9.250 5 2.754 315,396.09
9.251 - 9.500 2 1.316 150,685.63
9.501 - 9.750 3 2.195 251,334.21
9.751 - 10.000 1 0.355 40,600.00
10.001>= 1 0.342 39,200.00
Total: 144 100.000 11,450,997.37
Wgt Avg: 7.4484
Min: 4.650
Max: 10.150
12. Maximum Rate
Maximum Rate # % Balance
14.501 - 15.000 1 0.503 57,600.00
15.001 - 15.500 1 0.681 77,973.60
15.501 - 16.000 4 3.646 417,520.00
16.001 - 16.500 3 2.908 332,938.71
16.501 - 17.000 21 14.554 1,666,626.85
17.001 - 17.500 26 17.992 2,060,301.75
17.501 - 18.000 37 27.895 3,194,272.87
18.001 - 18.500 14 9.739 1,115,176.48
18.501 - 19.000 14 9.911 1,134,858.13
19.001 - 19.500 13 6.275 718,513.05
19.501 - 20.000 7 4.477 512,615.93
20.001 >= 3 1.420 162,600.00
Total: 144 100.000 11,450,997.37
Wgt Avg: 17.8087
Min: 14.9000
Max: 21.5500
13. Lifetime Rate Cap
Lifetime Rate Cap # % Balance
6.751 - 7.000 144 100.000 11,450,997.37
Total: 144 100.000 11,450,997.37
Wgt Avg: 7.0000
14. First Periodic Rate Cap
First Periodic Rate Cap # % Balance
3.000 144 100.000 11,450,997.37
Total: 144 100.000 11,450,997.37
Wgt Avg: 3.0000
15. Subsequent Periodic Rate Cap
Subsequent Periodic Rate Cap # % Balance
1.000 144 100.000 11,450,997.37
Total: 144 100.000 11,450,997.37
Wgt Avg: 1.0000
16. Next Rate Adjustment
Next Rate Adjustment # % Balance
1999-12-01 1 0.903 103,362.93
2001-02-22 1 0.372 42,635.37
2001-04-03 1 0.681 77,973.60
2001-04-19 1 0.774 88,679.75
2001-05-12 2 1.179 134,969.89
2001-05-27 1 0.427 48,927.14
2001-06-01 3 1.929 220,855.89
2001-06-04 1 1.283 146,903.04
2001-06-12 1 1.193 136,564.12
2001-06-26 1 0.682 78,092.90
2001-07-01 1 0.290 33,168.53
2001-07-03 1 0.723 82,766.37
2001-07-30 1 0.607 69,561.71
2001-08-01 7 5.028 575,790.21
2001-08-06 2 1.621 185,650.14
2001-08-14 1 0.734 84,065.11
2001-08-23 1 0.668 76,449.76
2001-08-28 1 0.653 74,800.00
2001-09-01 8 5.238 599,783.47
2001-09-03 2 0.846 96,847.24
2001-09-10 1 0.884 101,218.34
2001-09-12 1 0.495 56,683.74
2001-09-30 2 1.480 169,482.50
2001-10-01 29 21.386 2,448,937.22
2001-10-02 1 0.573 65,600.00
2001-10-03 1 0.312 35,738.94
2001-10-07 2 1.155 132,204.66
2001-10-08 1 0.540 61,814.50
2001-10-09 4 2.356 269,803.59
2001-10-10 1 0.904 103,500.00
2001-10-14 3 3.280 375,600.00
2001-10-15 6 3.203 366,796.71
2001-10-20 1 0.782 89,600.00
2001-10-23 1 0.857 98,100.00
2001-10-24 1 0.412 47,200.00
2001-10-27 1 0.675 77,350.00
2001-10-29 1 0.629 72,000.00
2001-10-30 2 1.597 182,895.00
2001-11-01 39 26.563 3,041,715.00
2001-11-04 3 2.492 285,400.00
2001-11-05 1 0.825 94,500.00
2001-11-06 2 0.911 104,300.00
2001-11-15 2 1.857 212,700.00
Total: 144 100.000 11,450,997.37
Wgt Avg: 2001-09-18
17. Months to Roll
Months to Roll # % Balance
2 1 0.903 103,362.93
16 1 0.372 42,645.37
18 2 1.455 166,653.35
19 3 1.606 183,897.03
20 6 5.086 582,415.95
21 3 1.620 185,496.61
22 12 8.705 996,755.22
23 14 8.943 1,024,015.29
24 55 38.662 4,427,140.62
25 47 32.649 3,738,615.00
Total: 144 100.000 11,450,997.37
Wgt Avg: 23.4
18. Original LTV
Original LTV # % Balance
=< 60.000 2 1.416 162,153.61
60.001 - 70.000 16 8.375 958,969.01
70.001 - 80.000 73 48.919 5,601,706.28
80.001 - 85.000 28 20.982 2,402,682.43
85.001 - 90.000 25 20.308 2,325,486.04
Total: 144 100.000 11,450,997.37
Wgt Avg: 80.89
Min: 40.00
Max: 90.00
19. Combined LTV
Combined LTV # % Balance
=< 60.000 2 1.416 162,153.61
60.001 - 70.000 16 8.375 958,969.01
70.001 - 80.000 73 48.919 5,601,706.28
80.001 - 85.000 28 20.982 2,402,682.43
85.001 - 90.000 25 20.308 2,325,486.04
Total: 144 100.000 11,450,997.37
Wgt Avg: 80.89
Min: 40.00
Max: 90.00
20. State Concentration
State Concentration # % Balance
OH 29 17.076 1,955,392.38
IL 12 9.642 1,104,066.66
MO 11 6.527 747,382.41
CO 5 5.816 665,963.68
NM 6 5.192 594,528.76
GA 5 5.059 579,290.79
OK 7 4.112 470,817.48
IN 8 3.898 446,311.50
PA 6 3.874 443,581.75
MD 5 3.299 377,713.96
Other 50 35.507 4,065,948.00
Total: 144 100.000 11,450,997.37
#: 29
21. Occupancy Type
Occupancy Type # % Balance
Primary 139 98.527 11,282,326.99
Investor 5 1.473 168,670.38
Total: 144 100.000 11,450,997.37
22. Property Type
Property Type # % Balance
Single Family 129 90.824 10,400,288.54
2-4 Family 6 4.260 487,822.78
Condo 3 1.366 156,472.49
Manufactured Housing 6 3.549 406,413.56
Total: 144 100.000 11,450,997.37
23. Loan Purpose
Loan Purpose # % Balance
Purchase 34 27.458 3,144,262.01
Rate/Term Refi 2 1.535 175,764.12
Cash Out Refi 108 71.007 8,130,971.24
Total: 144 100.000 11,450,997.37
24. Documentation Type
Documentation Type # % Balance
Full Documentation 119 82.292 9,423,207.16
Limited 7 6.700 767,202.85
Stated 18 11.009 1,260,587.36
Total: 144 100.000 11,450,997.37
25. Product
Product # % Balance
Six Month LIBOR ARMs 1 0.903 103,362.93
2/28 143 99.097 11,347,634.44
Total: 144 100.000 11,450,997.37
26. Debt Ratios
Debt Ratios # % Balance
=< 28.00 23 15.328 1,755,216.31
28.01 - 32.00 10 7.806 893,921.11
32.01 - 36.00 16 9.380 1,074,143.45
36.01 - 42.00 26 16.783 1,921,877.59
42.01 - 46.00 22 17.288 1,979,600.97
46.01 >= 47 33.414 3,826,237.94
Total: 144 100.000 11,450,997.37
Wgt Avg: 39.483
27. FICO Score
FICO Score # % Balance
=<540.000 57 37.937 4,344,174.53
540.001 - 560.000 27 15.925 1,823,538.00
560.001 - 580.000 23 15.751 1,803,623.94
580.001 - 600,000 9 7.511 860,103.45
600.001 - 620.000 10 8.504 973,822.26
620.001 - 640.000 10 9.016 1,032,444.22
640.001 - 660.000 5 2.810 321,741.05
660.001 - 680.000 2 1.750 200,349.92
680.001 >= 1 0.796 91,200.00
Total: 144 100.000 11,450,997.37
Wgt Ave: 555.526
Max: 703.000
Min: 0.000
28. Grade
Grade # % Balance
A 41 31.830 3,644,870.29
A+ 9 7.813 894,708.42
B 28 17.784 2,036,411.56
B+ 16 10.919 1,250,321.45
C 21 11.740 1,344,353.67
C- 13 7.488 857,437.92
C+ 13 10.168 1,164,329.94
D 3 2.258 258,564.12
Total: 144 100.000 11,450,997.37
29. PrePayment Month
PrePayment Month # % Balance
000 14 8.954 1,025,296.48
111 1 0.342 39,200.00
200 1 0.831 95,126.45
221 2 1.354 155,100.00
222 3 1.763 201,825.00
300 1 1.153 132,000.00
320 4 2.847 326,029.57
321 82 56.171 6,432,109.94
3322 2 1.931 221,142.55
3322 2 17 10.490 1,201,224.90
3332 2 1 0.480 54,982.03
550 16 13.684 1,566,960.45
Total: 144 100.000 11,450,997.37
================================================================================
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileded and confidential, is intended for use by the addressee only, and 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. Prospective investors are advised to read carefully, and rely
solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevent information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representaion or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forcasts, predictions, or opinions with respect to value. Prior to
making any investment decisions, a prospective investor shall receive and fully
review the final Prospectus . NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein.
