_________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest Event
Reported): February 28, 2000
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-91561 41-1955181
__________________________ __________ _____________
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
8400 Normandale Lake Blvd., Suite 600 Minneapolis, MN 55437
___________________________________________________________
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (612) 832-7000
_________________________________________________________________
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Item 5. Other Events.
Filing of Computational Materials
_________________________________
In connection with the proposed offering of the GMACM Home
Equity Loan-Backed Term Notes, Series 2000-HE1 (the "Term
Notes"), Bear, Stearns & Co. Inc., as representative of the
underwriters (the "Representative"), has prepared certain
materials (the "Series Term Sheet" including the "Computational
Materials") for distribution to potential investors. Although
Residential Asset Mortgage Products, Inc. (the "Company")
provided the Representative with certain information regarding
the characteristics of the mortgage loans (the "Home Equity
Loans") in the related portfolio, the Company did not participate
in the preparation of the Computational Materials.
For purposes of this Form 8-K, "Computational Materials"
shall mean computer generated tables and/or charts displaying,
with respect to the Notes, any of the following: yield; average
life; duration, expected maturity; interest rate sensitivity;
loss sensitivity; cash flow characteristics; background
information regarding the Mortgage Loans; the proposed structure;
decrement tables; or similar information (tabular or otherwise)
of a statistical, mathematical, tabular or computational nature.
The Series Term Sheet including Computational Materials listed as
Exhibit 99.1 hereto is filed.
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Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
_________________________
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Series Term Sheet including Computational Materials.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly
authorized.
RESIDENTIAL ASSET MORTGAGE
PRODUCTS, INC.
By: /s/ Patricia C. Taylor
__________________________
Patricia C. Taylor
Vice President
Dated: February 28, 2000
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Exhibit Index
______________
Exhibit Page
_______ ____
99.1 Series Term Sheet including Computational Materials 7
6
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Exhibit 99.1
____________
GMACM Home Equity Loan Trust 2000-HE1
BEAR STEARNS
BEAR STEARNS Bear, Stearns & Co. Inc.
ATLANTA o BOSTON o CHICAGO Asset-Backed Securities Group
DALLAS o DC o LOS ANGELES o NEW YORK o SAN FRANCISCO 245 Park Avenue
FRANKFORT o GENEVA o HONG KONG New York, New York 10167
LONDON o PARIS o TOKYO (212) 272-2000; (212) 272-7294 fax
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GMACM Home Equity Loan Trust 2000-HE1: Computational Materials
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Fax to: Date: 2/22/00
Company: # Pages 41
(incl. cover):
Fax No: Phone No:
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From: Phone No:
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Statement Regarding Assumptions as to Securities,
pricing estimates, and other Information
The information contained in the attached materials (the "Information") may
include various forms of performance analysis, security characteristics and
securities pricing estimates for the securities addressed. Please read and
understand this entire statement before utilizing the Information. The
Information is provided solely by Bear Stearns, not as agent for any issuer,
seller or servicer, and although it may be based on data supplied to it by an
issuer, seller or servicer, none of the issuer, seller or servicer makes any
representations regarding its accuracy or completeness. Should you receive
Information that refers to the "Statement Regarding Assumptions and Other
Information," please refer to this statement instead.
The Information is illustrative and is not intended to predict actual results
which may differ substantially from those reflected in the Information.
Performance analysis is based on certain assumptions with respect to significant
factors that may prove not to be as assumed. You should understand the
assumptions and evaluate whether they are appropriate for your purposes.
Performance results are based on mathematical models that use inputs to
calculate results. As with all models, results may vary significantly depending
upon the value of the inputs given. Inputs to these models include but are not
limited to: prepayment expectations (economic prepayment models, single expected
lifetime prepayments or a vector of periodic prepayments), interest rate
assumptions (parallel and nonparallel changes for different maturity
instruments), collateral assumptions (actual pool level data, aggregated pool
level data, reported factors or imputed factors), volatility assumptions
(historically observed or implied current) and reported information (paydown
factors, rate resets, and trustee statements). Models used in any analysis may
be proprietary making the results difficult for any third party to reproduce.
Contact your registered representative for detailed explanations of any modeling
techniques employed in the Information.
The Information addresses only certain aspects of the applicable security's
characteristics and thus does not provide a complete assessment. As such, the
Information may not reflect the impact of all structural characteristics of the
security, including call events and cash flow priorities at all prepayment
speeds and/or interest rates. You should consider whether the behavior of these
securities should be tested as assumptions different from those included in the
Information. The assumptions underlying the Information, including structure and
collateral, may be modified from time to time to reflect changed circumstances.
Any investment decision should be based only on the data in the prospectus and
the prospectus supplement or private placement memorandum (Offering Documents)
and the then current version of the Information. Offering Documents contain data
that is current as of their publication dates and after publication may no
longer be complete or current. Contact your registered representative for
Offering Documents, current Information or additional materials, including other
models for performance analysis, which are likely to produce different results,
and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent
our view, at the time determined, of the investment value of the securities
between the estimated bid and offer levels, the spread between which may be
significant due to market volatility or illiquidity, (b) do not constitute a bid
by any person for any security, (c) may not constitute prices at which the
securities could have been purchased or sold in any market, (d) have not been
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confirmed by actual trades, may vary from the value Bear Stearns assigns any
such security while in its inventory, and may not take into account the size of
a position you have in the security, and (e) may have been derived from matrix
pricing that uses data relating to other securities whose prices are more
readily ascertainable to produce a hypothetical price based on the estimated
yield spread relationship between the securities.
General Information: The data underlying the Information has been obtained from
sources that we believe are reliable, but we do not guarantee the accuracy of
the underlying data or computations based thereon. Bear, Stearns and/or
individuals thereof may have positions in these securities while the Information
is circulating or during such period may engage in transactions with the issuer
or its affiliates. We act as principal in transactions with you, and
accordingly, you must determine the appropriateness for you of such transactions
and address any legal, tax, or accounting considerations applicable to you. Bear
Stearns shall not be a fiduciary or advisor unless we have agreed in writing to
receive compensation specifically to act in such capacities. If you are subject
to ERISA, the Information is being furnished on the condition that it will not
form a primary basis for any investment decision. The Information is not a
solicitation of any transaction in securities which may be made only by
prospectus when required by law, in which event you may obtain such prospectus
from Bear Stearns.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
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GMACM Home Equity Loan Trust 2000-HE1
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<TABLE>
OFFERED NOTES (PRICED TO CALL)
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Principal
Average Average Modifiedon Modified Principal Principal
Life to Life to Duration Duration to window to Window Legal
Expected Approximate Expected Maturity(1) Call(1) to Maturity(1) to Call(1) Maturity(1) to Call(1) Final
Class Ratings Size Coupon (years) (Years) (years) (years) (months) (months) Maturity
Description S&P/Moody's
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 Term AAA/Aaa $[225,000 LIBOR+__% [3.58] [3.42] [3.01] [2.92] [149] [70] [2/25/2030]
Notes AAA/Aaa $[25,000,00LIBOR+__% [3.51] [3.36] [2.96] [2.87] [139] [68] [2/25/2030]
A-2 Term AAA/Aaa $[50,000, [3.25] [3.07] [2.60] [2.51] [145] [80] [2/25/2030]
Notes ____%
A-3 Term ____%
Notes
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o The Class A-1 Term Notes are backed by conforming adjustable rate
home equity revolving credit line loans ("HELOCs"), the Class A-2
Term Notes are backed by non-conforming HELOCs and the Class A-3
Term Notes are backed by fixed rate home equity loans ("HELs").
o During a 12 month revolving period with respect to the Class A-1 and
Class A-2 Term Notes, GMACM will sell HELOCs and draws on the HELOCs
to the trust. After the initial 12 month revolving period on the
HELOCs, for the next 48 months only additional draws on the HELOCs
will be sold to the trust and thereafter, no additional collateral
will be sold to the trust on behalf of the Class A-1 and Class A-2
Term Notes.
o During a 4 month revolving period with respect to the Class A-3 Term
Notes, GMACM will sell only HELs to the trust. After the initial 4
month revolving period on the HELs, no additional collateral will be
sold to the trust on behalf of the Class A-3 Term Notes.
o The Term Notes are priced to call. The spread to LIBOR will double
on the Class A-1 and Class A-2 Term Notes if the respective Term
Notes are not called upon their aggregate principal balance
declining to 10% of their initial principal balance. The coupon on
the Class A-3 Term Notes will increase by 0.50% if the Class A-3
Term Notes are not called upon their aggregate principal balance
declining to 10% of their initial principal balance.
o Interest on the Class A-1 and Class A-2 Term Notes is payable
monthly starting with the initial distribution date and principal
on the Class A-1 and Class A-2 Term Notes is payable monthly
starting with the distribution date in the month following the end
of the applicable Revolving Period (beginning on [March 25, 2001]),
on an Actual/360 basis. Interest payable on the Class A-1 and Class
A-2 Term Notes is subject to an available funds cap and an overall
cap of [ ]%; provided, however, investors will be entitled to an
interest carry-forward amount should LIBOR plus the margin exceed
the available funds cap for such periods.
o Interest on the Class A-3 Term Notes is payable monthly starting
with the initial Distribution Date and principal on the Class A-3
Term Notes is payable monthly starting with the distribution date in
the month following the end of the applicable Revolving Period
(beginning on [July 25, 2000]), on a 30/360 basis.
o The optional call on the Class A-1 and Class A-2 Term Notes is set
at 10% of the initial respective Term Note principal balance. The
optional call on the Class A-3 Term Notes is set at 10% of the
initial Class A-3 Term Note principal balance.
o The pricing prepayment speed on the HELOCs is 35% CPR with a draw
rate of 10% CPR, for a net 25% CPR; the HELs are modeled at a
prepayment speed of 5% CPR ramping to 25% CPR by month 12 solely for
pricing purposes.
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(1) The Notes will be priced using a prepayment speed of (i) in the
case of the HELOCs, a Gross CPR of 35% less a constant draw rate of
10%, and (ii) in the case of the HELs, such collateral is modeled
with a 5% CPR ramping to 25% by month 12.
</TABLE>
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Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
4
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GMACM Home Equity Loan Trust 2000-HE1
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SUMMARY
Issuer....................The GMACM Home Equity Loan Trust 2000-HE1, a
Delaware business trust, will be formed pursuant to
a trust agreement. The assets of the issuer will
consist of:
o the home equity revolving credit line loans
("HELOCs") and home equity loans ("HELs")
transferred to the issuer on the closing date;
o additional draws under the home equity revolving
credit line loans during the period from the
closing date to but excluding the beginning of
the rapid amortization period, as described in
this prospectus supplement;
o mortgage loans sold to the issuer after the
closing date; and
o certain related assets.
Depositor.................Residential Asset Mortgage Products, Inc.
Seller and Servicer GMAC Mortgage Corporation, a Pennsylvania
corporation.
Owner Trustee Wilmington Trust Company.
Indenture Trustee Norwest Bank Minnesota, National Association.
Cut-Off Date February 1, 2000.
Closing Date On or about February [28], 2000.
Payment Date The 25th day of each month (or, if that day is
not a Business Day, the next Business Day), beginning
in March 2000.
Book Entry The notes will initially be issued in book-entry
form.
Pre-Funding Account On the closing date, approximately $[74,144,747]
will be deposited into an account designated the
"Pre-Funding Account". Approximately $[64,077,816]
will be allocated to purchasing HELOCs and
approximately $[10,066,932] will be allocated to
purchasing HELs. This amount will come from the
proceeds of the sale of the Term Notes. During the
Pre-Funding Period, funds on deposit in the
Pre-Funding Account will be used by the issuer to
buy mortgage loans from the seller from time to
time. The Pre-Funding Period will be the period from
the closing date to the earliest of:
o the date on which the amount on deposit in the
Pre-Funding Account is less than $100,000;
o [May 31, 2000]; or
o the occurrence of a managed amortization period
or a rapid amortization event.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
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Capitalized Interest
Account
On the Closing Date, if required by MBIA
Insurance Corporation, part of the proceeds of
the sale of the Term Notes will be deposited into an
account designated the "Capitalized Interest Account",
which will be held by the indenture trustee. Amounts
on deposit in the Capitalized Interest Account will be
withdrawn on each payment date during the Pre-Funding
Period to cover any shortfall in interest payments on
the notes due to the pre-funding feature during the
Pre-Funding Period. Any amounts remaining in the
Capitalized Interest Account at the end of the
Pre-Funding Period will be paid to the seller.
Funding Account An account designated the "Funding Account" will be
set up with the indenture trustee on the Closing
Date. On each payment date during the revolving
period for each class of Term Notes, the indenture
trustee will deposit principal and excess spread
collections for the related collection period into
the funding account, and will apply them first to
buy additional balances arising under home equity
revolving credit line loans with respect to the
Class A-1 and Class A-2 Term Notes in the trust and
thereafter to buy more mortgage loans, to the extent
they are available. If not all principal
collections in the Funding Account have been applied
to buy additional balances and mortgage loans at the
end of the revolving period for the Term Notes, the
amount left in the Funding Account will be paid to
respective noteholders as a payment of principal.
During the revolving period, we expect that mortgage
loans bought with amounts in the Funding Account
will primarily be home equity revolving credit line
loans.
Interest Payments Interest payments on each class of the Term
Notes will be made monthly on each payment date,
beginning in March 2000, at the note rates described
below for the related interest period, subject to the
limitations set forth below, which may result in
interest shortfalls, as described below.
The note rate for the Class A-1 Term Notes and each
interest period will be a floating rate equal to the
least of:
o LIBOR plus ____% per annum (or, on any payment date
on which the aggregate Class A-1 Term Note balance
is less than 10% of the initial aggregate Class A-1
Term Note balance, LIBOR plus ____% per annum);
o the applicable Net Loan Rate; and
o [ ]% per annum.
The note rate for the Class A-2 Term Notes and each
interest period will be a floating rate equal to the
least of:
o LIBOR plus ____% per annum (or, on any payment date
on which the aggregate Class A-2 Term Note balance
is less than 10% of the initial aggregate Class A-2
Term Note balance, LIBOR plus ____% per annum);
o the applicable Net Loan Rate; and
o [ ]% per annum.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
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However, on any payment date for which the Class A-1
or Class A-2 Term Note rate has been determined by the
applicable Net Loan Rate, the interest shortfall will
be determined. Interest shortfalls and interest on the
shortfalls at the Class A-1 and Class A-2 Term Note
rate (as adjusted from time to time) will be paid on
later payment dates, to the extent funds are available
for that purpose. Interest shortfalls will not be
covered by the financial guaranty insurance policy and
may remain unpaid on the final payment date for the
Class A-1 and Class A-2 Term Notes. Interest on the
Class A-1 and Class A-2 Term Notes for each payment
date will accrue from the preceding payment date (or,
in the case of the first payment date, from the
Closing Date) through the day before that payment
date, on the basis of the actual number of days in
that interest period and a 360-day year.
o The note rate for the Class A-3 Term Notes and each
interest period will be a fixed rate equal to ____%
per annum.
Interest on the Class A-3 Term Notes for each payment
date will accrue from the first day of the preceding
calendar month through the last day of the preceding
calendar month, on the basis of a 360-day year
consisting of twelve 30-day months.
All interest payments on the Notes for any payment
date will be allocated to the Term Notes and the
Variable Funding Notes pro rata based on their
respective interest accruals. The interest rate on the
Variable Funding Notes will not significantly exceed
the Note Rates for the Class A-1 and Class A-2 Term
Notes for the related interest period.
Principal Payments With respect to any payment date during the
during the related revolving period, no principal will
be paid on any class of Term Notes, and all principal
and excess spread collections will be deposited into
the Funding Account and used to purchase additional
balances relating to home equity revolving credit line
loans and mortgage loans. On each payment date during
the Managed Amortization Period (with respect to the
Class A-1 and Class A-2 Term Notes), the aggregate
amount payable as principal on the Class A-1 and Class
A-2 Term Notes will be equal to the related Net
Principal Collections for that payment date. On each
payment date during the Rapid Amortization Period for
each class of Notes, the aggregate amount payable as
principal on the Notes will be equal to the Principal
Collections for the related Loan Group for the related
Collection Period. In addition, on each payment date
after the end of the Revolving Period for each class
of Notes, to the extent of funds available for that
purpose, holders of the Term Notes will be entitled to
receive certain additional amounts in reduction of the
related Note Balance, generally equal to liquidation
loss amounts.
All principal payments due and payable on each class
of Floating Rate Term Notes and the Variable Funding
Notes for each Payment Date will be allocated among
those classes of Notes based on the Principal
Collections in the related Loan Group until the
related Note Balance or Variable Funding Balance
thereof is paid in full. In no event will principal
payments on any class of Notes on a Payment Date
exceed the related Note Balance or Variable Funding
Balance, as applicable, on that Payment Date. On the
Final Payment Date, principal will be due and payable
on the Notes in an amount equal to the related Note
Balance or Variable Funding Balance, as applicable,
remaining outstanding on that Payment Date.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
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The Revolving Period with respect to the Class A-1 and
Class A-2 Term Notes will be the period beginning on
the Closing Date and ending on the earlier of
[February 28, 2001] and the occurrence of a managed
amortization event or a rapid amortization event. The
Managed Amortization Period with respect to the Class
A-1 and Class A-2 Term Notes will be the period
beginning on the first payment date following the end
of the related Revolving Period and ending on the
earlier of [February 28, 2005] and the occurrence of
certain rapid amortization events. The Rapid
Amortization Period with respect to the Class A-1 and
Class A-2 Term Notes will be the period beginning on
the earlier of the first payment date following the
end of the Managed Amortization Period and the
occurrence of certain rapid amortization events, and
ending upon the termination by the issuer. A Managed
Amortization Event will be deemed to occur on any date
on which the amount on deposit in the Funding Account
equals or exceeds $10,000,000.
The Revolving Period with respect to the Class A-3
Term Notes will be the period beginning on the Closing
Date and ending on the earlier of [June 30, 2000] and
the occurrence of a rapid amortization event. The
Rapid Amortization Period with respect to the Class
A-3 Term Notes will be the period beginning on the
earlier of the first payment date following the end of
the related Revolving Period and the occurrence of a
rapid amortization event, and ending upon the
termination by the issuer. The Class A-3 Term Notes
will not have a Managed Amortization Period.
Allocation of Payments on the
Mortgage Loans......... All collections on the mortgage loans
will generally be allocated by the servicer according
to the terms of the related home equity credit line
agreements or mortgage notes between amounts collected
in respect of interest and principal.
o With respect to each payment date, the portion of
interest collections for each loan group available
to be applied towards the payment of interest on
the related class of Notes will equal interest
collections for such loan group for such payment
date.
o The portion of principal collections for each loan
group available to be applied towards the payment
of principal on the related class of notes will
equal:
o at any time during the Revolving Periods,
zero;
o at any time during the Managed Amortization
Period, net principal collections on the
home equity revolving credit line loans for
such payment date; and
o at any time during the Rapid Amortization
Periods, principal collections for such loan
group for such payment date.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
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During the revolving period for each class of Term Notes,
principal and excess spread collections for the related loan
group will be applied by the trust to buy mortgage loans for
such loan group and, during the period from the Closing Date
to the beginning of the Rapid Amortization Period for the
Class A-1 and Class A-2 Term Notes, principal collections
will also be applied to purchase additional balances for the
related loan group, to the extent they are available.
Principal collections will no longer be applied to acquire
mortgage loans after the end of the Revolving Periods and
will no longer be applied to buy additional balances during
the Rapid Amortization Period for the Class A-1 and Class
A-2 Term Notes.
CreditEnhancement. The credit enhancement provided for
the benefit of the noteholders will consist of:
o Excess Spread;
o overcollateralization; and
o the financial guaranty insurance policy.
The Enhancer..............MBIA Insurance Corporation.
Optional Redemption With respect to each of the three loan groups, a
principal payment may be made by the Servicer to
redeem the related class of Term Notes upon the
exercise by the servicer of its option to purchase
the mortgage loans in such loan group and the
related assets of the trust after the aggregate
balance of the related class of Term Notes is
reduced to an amount less than or equal to 10% of
their initial balance.
Final Payment of Principal
Principal on the Term Notes.
The Notes will be payable in full on the payment date in
[February 2030] to the extent of the outstanding note
balance on that date, if any. In addition, the issuer will
pay each class of the Term Notes in full upon the exercise
by the Servicer of its option to purchase all of the
mortgage loans in the related loan group and all property
acquired relating to such mortgage loans.
ERISA Considerations
The Term Notes may be eligible for
purchase by certain ERISA Plans.
Certain Federal Income
Tax Considerations
For federal income tax purposes,
the Term Notes will be characterized as indebtedness
of the issuer.
Legal Investment The Term Notes will not constitute
"mortgage related securities" for purposes of the
Secondary Mortgage Market Enhancement Act of 1984, as
amended.
Ratings It is a condition to the issuance of the Term Notes
that they be rated at least "Aaa" by Moody's Investors
Service, Inc. and "AAA" by Standard & Poor's, a
division of The McGraw-Hill Companies, Inc.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc. BEAR STEARNS
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GMACM Home Equity Loan Trust 2000-HE1
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
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Initial HELOC Characteristics
Set forth below is a description of certain characteristics of the Initial
HELOCs as of the Cut-Off Date. Unless otherwise specified, all principal
balances of the Initial HELOCs are as of the Cut-Off Date and are rounded to the
nearest dollar. All percentages are approximate percentages by aggregate
principal balance as of the Cut-Off Date (except as indicated otherwise).
Property Type
Percent of
Initial
Number of Cut-Off HELOCs by
Property Type Initial Date Balance Cut-Off Date
HELOCs Balance
Condominium 505 $12,445,345.41 6.69%
Duplex 2 22,556.20 0.01%
Manufactured Housing 2 26,997.90 0.01%
PUD 331 9,272,451.44 4.99%
Single Famliy 6,551 163,267,109.88 87.81%
Two Family 31 511,121.22 0.27%
Unknown 17 376,602.25 0.20%
Total 7,439 $185,922,184.30 100.00%
Occupancy Types
Percent of
Initial
Occupancy Number of Cut-Off HELOCs by
(as indicated by Borrower) Initial Date Balance Cut-Off Date
HELOCs Balance
Owner Occupied 7,350 $183,333,125.49 98.61%
Non-Owner Occupied 72 2,212,456.56 1.19%
Unknown 17 376,602.25 0.20%
Total 7,439 $185,922,184.30 100.00%
Principal Balances
Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Principal Initial Balance Cut-Off Date
Balances ($) HELOCs Balance
$0.00 to $25,000.00 4,971 $63,294,794.85 34.04%
$25,000.01 to $50,000.00 1,755 63,435,917.25 34.12%
$50,000.01 to $75,000.00 390 23,965,561.96 12.89%
$75,000.01 to $100,000.00 239 21,280,260.04 11.45%
$100,000.01 to $125,000.00 24 2,729,812.36 1.47%
$125,000.01 to $150,000.00 30 4,267,261.26 2.30%
$150,000.01 to $175,000.00 5 804,339.91 0.43%
$175,000.01 to $200,000.00 8 1,513,273.43 0.81%
$200,000.01 + 17 4,630,963.24 2.49%
Total 7,439 $185,922,184.30 100.00%
The average Principal Balance of the Initial HELOCs as of the Cut-Off Date
is $24,992.90.
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
10
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Combined Loan-to-Value Ratios
Percent of
Initial
Range of Combined Number of Cut-Off Date HELOCs by
Loan-to-Value Initial Balance Cut-Off Date
Ratios(%) HELOCs Balance
0.000% to 50.000% 431 $10,506,654.06 5.65%
50.001% to 60.000% 299 7,444,085.51 4.00%
60.001% to 70.000% 589 15,785,733.14 8.49%
70.001% to 80.000% 2,469 60,505,232.66 32.54%
80.001% to 90.000% 2,405 54,435,097.66 29.28%
90.001% to 100.000% 1,246 37,245,381.27 20.03%
Total 7,439 $185,922,184.30 100.00%
The minimum and maximum Combined Loan-to-Value Ratios of the Initial HELOCs as
of the Cut-Off Date are approximately 5.45% and 100.00%, respectively, and the
weighted average Combined Loan-to-Value Ratio of the Initial HELOCs as of the
Cut-Off Date is approximately 80.22%.
- -------------------------------------------------------------------------------
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
11
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
- -----------------------------------------------------------------------------
Geographical Distributions
Percent of
Number of Cut-Off Initial
Location Initial Date Balance HELOCs by
HELOCs Cut-Off Date
Balance
AK 20 $527,759.01 0.28%
AL 62 1,213,962.02 0.65%
AR 19 389,218.55 0.21%
AZ 98 2,116,902.36 1.14%
CA 2,434 70,122,024.98 37.72%
CO 154 4,164,435.99 2.24%
CT 158 3,721,062.60 2.00%
DC 8 155,453.57 0.08%
DE 20 333,681.32 0.18%
FL 279 6,509,687.19 3.50%
GA 159 4,010,695.23 2.16%
HI 27 975,219.62 0.52%
IA 32 610,965.75 0.33%
ID 47 926,163.62 0.50%
IL 208 4,182,447.88 2.25%
IN 167 3,137,261.40 1.69%
KS 38 910,028.28 0.49%
KY 29 626,464.40 0.34%
LA 34 860,774.97 0.46%
MA 197 3,831,655.95 2.06%
MD 76 1,428,012.08 0.77%
ME 33 605,064.53 0.33%
MI 924 22,750,565.97 12.24%
MN 79 1,843,063.34 0.99%
MO 107 1,953,403.53 1.05%
MS 19 406,116.76 0.22%
MT 28 657,887.09 0.35%
NC 106 2,476,548.76 1.33%
ND 6 127,124.83 0.07%
NE 12 279,129.78 0.15%
NH 74 1,283,820.91 0.69%
NJ 266 7,324,342.23 3.94%
NM 36 947,684.73 0.51%
NV 76 2,008,740.03 1.08%
NY 224 6,034,294.28 3.25%
OH 210 4,148,599.67 2.23%
OK 42 906,629.77 0.49%
OR 142 3,096,216.58 1.67%
PA 224 5,047,571.66 2.71%
RI 10 266,746.88 0.14%
SC 37 1,026,938.24 0.55%
SD 3 41,404.00 0.02%
TN 63 1,241,877.53 0.67%
UT 44 948,718.31 0.51%
VA 103 2,336,944.10 1.26%
VT 23 489,488.69 0.26%
WA 199 5,481,909.46 2.95%
WI 71 1,161,341.50 0.62%
WY 12 276,134.37 0.15%
Total 7,439 $185,922,184.30 100.00%
- -------------------------------------------------------------------------------
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
12
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Junior Ratios(1)(2)
- ------------------- -------------- Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Junior Initial Balance Cut-Off Date
Ratios (%) HELOCs Balance
0.00% to 9.99% 884 $16,631,094.80 8.95%
10.00% to 19.99% 3,22866 64,378,407.69 34.63%
20.00% to 29.99% 1,78855 50,096,646.49 26.94%
30.00% to 39.99% 83122 27,479,224.90 14.78%
40.00% to 49.99% 34411 11,905,491.94 6.40%
50.00% to 59.99% 177 6,627,899.11 3.56%
60.00% to 69.99% 78 3,665,512.42 1.97%
70.00% to 79.99% 49 3,242,176.29 1.74%
80.00% to 89.99% 33 1,120,090.15 0.60%
90.00% to 100.00% 27 775,640.51 0.42%
Total 7,439 $185,922,184.30 100.00%
(1) The Junior Ratio of a HELOC is the ratio (expressed as a percentage)
of the credit limit of such HELOC to the sum of such credit limit and the
outstanding balance of any senior mortgage computed as of the date such
HELOC is underwritten.
(2) The weighted average Junior Ratio of the Initial HELOCs as of the
Cut-Off Date is approximately 25.44%.
Loan Rates
Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Loan Initial Balance Cut-Off Date
Rates(%) HELOCs Balance
0.001% to 8.000% 5,657 $140,283,934.80 75.45%
8.001% to 9.000% 94 2,057,192.82 1.11%
9.001% to 10.000% 411 9,161,891.65 4.93%
10.001% to 11.000% 405 8,982,902.50 4.83%
11.001% to 12.000% 297 8,088,776.48 4.35%
12.001% to 13.000% 366 11,000,731.49 5.92%
13.001% to 14.000% 209 6,346,754.56 3.41%
Total 7,439 $185,922,184.30 100.00%
The weighted average Loan Rate of the Initial HELOCs as of the Cut-Off Date
is approximately 7.82%.
Fully Indexed Gross Margin
- ------------------------ -------------- Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Fully Indexed Initial Balance Cut-Off Date
Gross Margins(%) HELOCs Balance
Less than 0.000% 8 264,183.80 0.14%
0.000% to 1.000% 3,278 79, 226,549.84 42.61%
1.001% to 2.000% 1,873 40, 122,862.42 21.58%
2.001% to 3.000% 717 20 285,202.96 10.91%
3.001% to 4.000% 701 21, 039,399.17 11.32%
4.001% to 5.000% 859 24, 848,417.62 13.36%
5.001% to 6.000% 3 135,568.49 0.07%
Total 7,439 185, 922,184.30 100.00%
The weighted average fully indexed gross margin of the Initial HELOCs as of
the Cut-Off Date is approximately 2.00% per annum.
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
13
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
- -----------------------------------------------------------------------------
Credit Utilization Rates
Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Credit Initial Balance Cut-Off Date
Utilization Rates (%) HELOCs Balance
0.01% to 30.00% 1,403 $10,106,500.15 5.44%
30.01% to 35.00% 230 3,131,077.59 1.68%
35.01% to 40.00% 249 3,392,327.26 1.82%
40.01% to 45.00% 195 3,219,227.78 1.73%
45.01% to 50.00% 242 3,904,153.39 2.10%
50.01% to 55.00% 233 4,298,622.85 2.31%
55.01% to 60.00% 228 4,940,079.39 2.66%
60.01% to 65.00% 212 5,211,368.73 2.80%
65.01% to 70.00% 215 5,364,958.76 2.89%
70.01% to 75.00% 310 7,948,326.16 4.28%
75.01% to 80.00% 265 7,623,634.44 4.10%
80.01% to 85.00% 239 7,356,953.28 3.96%
85.01% to 90.00% 266 8,336,062.12 4.48%
90.01% to 95.00% 247 8,111,289.13 4.36%
95.01% to 100.00% 2,891 102,446,337.68 55.10%
100.01% + 14 531,265.59 0.29%
Total 7,439 $185,922,184.30 100.00%
The weighted average Credit Utilization Rate based on the Cut-Off Date
Credit Limit of the Initial HELOCs as of the Cut-Off Date is 83.07%.
Credit Limits
- ------------------------ -------------- Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Credit Limits Initial Balance Cut-Off Date
($) HELOCs Balance
$0.01 To $25,000.00 3,168 $40,431,064.71 21.75%
$25,000.01 To $50,000.00 2,987 73,994,291.54 39.80%
$50,000.01 To $75,000.00 581 25,023,163.54 13.46%
$75,000.01 To $100,000.00 541 28,746,271.77 15.46%
$100,000.01To $125,000.00 30 2,556,933.68 1.38%
$125,000.01To $150,000.00 62 5,913,038.26 3.18%
$150,000.01To $175,000.00 8 825,565.86 0.44%
$175,000.01To $200,000.00 23 2,111,581.00 1.14%
$200,000.01To $225,000.00 9 1,563,706.64 0.84%
$225,000.01To $250,000.00 21 2,566,276.62 1.38%
$250,000.01To $275,000.00 2 511,302.89 0.28%
$275,000.01To $300,000.00 2 94,224.69 0.05%
$425,000.01To $450,000.00 1 27,416.33 0.01%
$575,000.01To $600,000.00 1 325,175.50 0.17%
$650,000.01To $675,000.00 1 500,000.00 0.27%
$675,000.01To $700,000.00 1 236,860.05 0.13%
$775,000.01To $800,000.00 1 495,311.22 0.27%
Total 7,439 $185,922,184.30 100.00%
The average of the Credit Limits of the Initial HELOCs as of the Cut-Off
Date is $38,434.65.
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
14
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Maximum Loan Rates
Percent of
Initial
Number of Cut-Off Date HELOCs by
Maximum Loan Rates Initial Balance Cut-Off Date
(%) HELOCs Balance
14.001% to 15.000% 135 $2,611,290.62 1.40%
15.001% to 16.000% 106 2,476,548.76 1.33%
17.001% to 18.000% 1,722 40,095,804.67 21.57%
18.001% to 19.000% 5,476 140,738,540.25 75.70%
Total 7,439 $185,922,184.30 100.00%
The weighted average Maximum Loan Rate of the Initial HELOCs as of the
Cut-Off Date is approximately 18.31%
Months Remaining to Scheduled Maturity
Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Months Initial Balance Cut-Off Date
HELOCs Balance
0 to 60 7 $123,100.93 0.07%
61 to 120 4,202 88,264,585.37 47.47%
121 to 180 1,300 40,233,335.81 21.64%
241 to 300 1,927 57,100,762.19 30.71%
301 + 3 200,400.00 0.11%
Total 7,439 $185,922,184.30 100.00%
The weighted average months remaining to scheduled maturity of the Initial
HELOCs as of the Cut-Off Date is approximately 185 months.
Origination Year
- ------------ -------------- Percent of
Initial
Number of Cut-Off Date HELOCs by
Origination Initial Balance Cut-Off Date
Year HELOCs Balance
1990 1 $45,000.00 0.02%
1993 3 41,185.12 0.02%
1994 2 2,194.97 0.00%
1995 7 116,779.63 0.06%
1996 4 72,369.52 0.04%
1997 15 134,407.54 0.07%
1998 109 1,453,587.64 0.78%
1999 6,785 168,779,385.47 90.78%
2000 513 15,277,274.41 8.22%
Total 7,439 $185,922,184.30 100.00%
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
15
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Lien Priority
Percent of
Initial
Number of Cut-Off Date HELOCs by
Lien Initial Balance Cut-Off Date
Position HELOCs Balance
First 213 $8,508,190.89 4.58%
Second 7,226 177,413,993.41 95.42%
Total 7,439 $185,922,184.30 100.00%
Debt-to-Income Ratios
Percent of
Initial
Number of Cut-Off Date HELOCs by
Range of Initial Balance Cut-Off Date
Debt-to-Income Ratios HELOCs Balance
(%)
0.00% 9.99% 27 $958,499.29 0.52%
10.00% 19.99% 474 10,301,417.06 5.54%
20.00% 29.99% 1,623 34,130,860.80 18.36%
30.00% 39.99% 2,402 59,042,928.89 31.76%
40.00% 49.99% 2,433 67,162,840.73 36.12%
50.00% 59.99% 399 11,553,836.81 6.21%
60.00% 69.99% 64 2,154,425.49 1.16%
70.00% 79.99% 7 242,647.79 0.13%
80.00% 89.99% 3 219,563.03 0.12%
90.00% 7 155,164.41 0.08%
Total 7,439 $185,922,184.30 100.00%
Teaser Expiration Month
Percent of
Initial
Number of Cut-Off Date HELOCs by
Teaser Expiration Initial Balance Cut-Off Date
Month HELOCs Balance
No Teaser 1,782 $45,638,249.50 24.55%
Date
February 1,075 29,722,202.06 15.99%
2000
March 2000 1,346 39,219,321.59 21.09%
April 2000 763 16,065,600.22 8.64%
May 2000 873 16,473,069.27 8.86%
June 2000 1,264 30,358,021.65 16.33%
July 2000 333 8,369,856.07 4.50%
February 1 11,885.85 0.01%
2002
February 1 48,982.54 0.03%
2010
May 2010 1 14,995.55 0.01%
Total 7,439 $185,922,184.30 100.00%
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
16
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Documentation Type
Percent of
Number of Cut-Off Initial
Documentation Initial Date Balance HELOCs by
HELOCs Cut-Off Date
Balance
Standard 4,815 $132,145,522.29 71.08%
Family First Direct 688 13,934,944.30 7.50%
No Income No Appraisal 923 13,863,239.38 7.46%
No Income Verification 672 13,031,246.66 7.01%
Select 205 9,669,820.39 5.20%
Streamline 23 1,051,552.28 0.57%
GM EXPANDED FAM 36 1,038,377.03 0.56%
Super Express 56 896,118.74 0.48%
Alternative 13 144,221.83 0.08%
Express 6 128,907.86 0.07%
Quick 2 18,233.54 0.01%
Total 7,439 $185,922,184.30 100.00%
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
17
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Initial Subgroup 1 HELOC Characteristics
Set forth below is a description of certain characteristics of the Initial
Subgroup 1 HELOCs as of the Cut-Off Date. Unless otherwise specified, all
principal balances of the Initial Subgroup 1 HELOCs are as of the Cut-Off Date
and are rounded to the nearest dollar. All percentages are approximate
percentages by aggregate principal balance as of the Cut-Off Date (except as
indicated otherwise).
Property Type
Percent of
Initial
Subgroup 1
Number of Cut-Off HELOCs by
Property Type Initial Date Balance Cut-Off Date
Subgroup 1 Balance
HELOCs
Condominium 493 $ 11,775,331.91 7.00%
Duplex 2 22,556.20 0.01%
Manufactured Housing 2 26,997.90 0.02%
PUD 324 8,632,006.32 5.13%
Single Famliy 6,372 146,950,690.49 87.32%
Two Family 31 511,121.22 0.30%
Unknown 17 376,602.25 0.22%
Total 7,241 $168,295,306.29 100.00%
Occupancy Types
Percent of
Initial
Subgroup 1
Occupancy Number of Cut-Off HELOCs by
(as indicated by Borrower) Initial Date Balance Cut-Off Date
Subgroup 1 Balance
HELOCs
Owner Occupied 7,156 $166,095,247.48 98.69%
Non-Owner Occupied 68 1,823,456.56 1.08%
Unknown 17 376,602.25 0.22%
Total 7,241 $168,295,306.29 100.00%
Principal Balances
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Range of Principal Initial Balance Cut-Off Date
Balances ($) Subgroup 1 Balance
HELOCs
$0.00 to $25,000.00 4,925 $62,692,979.11 37.25%
$25,000.01 to $50,000.00 1,717 61,948,280.51 36.81%
$50,000.01 to $75,000.00 373 22,889,412.10 13.60%
$75,000.01 to $100,000.00 208 18,495,135.87 10.99%
$100,000.01 to $125,000.00 13 1,475,799.12 0.88%
$125,000.01 to $150,000.00 3 442,234.97 0.26%
$150,000.01 to $175,000.00 1 151,464.61 0.09%
$175,000.01 to $200,000.00 1 200,000.00 0.12%
Total 7,241 $168,295,306.29 100.00%
The average Principal Balance of the Initial Subgroup 1 HELOCs as of the
Cut-Off Date is approximately $23,242.00.
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
18
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Combined Loan-to-Value Ratios
Percent of
Initial
Subgroup 1
Range of Combined Number of Cut-Off Date HELOCs by
Loan-to-Value Initial Balance Cut-Off Date
Ratios(%) Subgroup 1 Balance
HELOCs
0.000% to 50.000% 423 $9,742,369.57 5.79%
50.001% to 60.000% 291 6,320,114.43 3.76%
60.001% to 70.000% 569 13,583,652.21 8.07%
70.001% to 80.000% 2,360 51,427,591.28 30.56%
80.001% to 90.000% 2,365 51,258,006.73 30.46%
90.001% to 100.000% 1,233 35,963,572.07 21.37%
Total 7,241 $168,295,306.29 100.00%
The minimum and maximum Combined Loan-to-Value Ratios of the Initial
Subgroup 1 HELOCs as of the Cut-Off Date are approximately 5.45% and
100.00%, respectively, and the weighted average Combined Loan-to-Value Ratio
of the Initial Subgroup 1 HELOCs as of the Cut-Off Date is approximately
80.63%.
- -------------------------------------------------------------------------------
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
19
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Geographical Distributions
Percent of
Initial
Subgroup 1
Number of Cut-Off HELOCs by
Location Initial Date Balance Cut-Off Date
Subgroup 1 Balance
HELOCs
AK 19 $427,759.01 0.25%
AL 62 1,213,962.02 0.72%
AR 19 389,218.55 0.23%
AZ 95 1,932,741.68 1.15%
CA 2,368 63,963,594.68 38.01%
CO 147 3,357,729.40 2.00%
CT 149 3,297,441.18 1.96%
DC 8 155,453.57 0.09%
DE 20 333,681.32 0.20%
FL 275 6,194,548.53 3.68%
GA 154 3,672,840.96 2.18%
HI 26 821,703.12 0.49%
IA 32 610,965.75 0.36%
ID 47 926,163.62 0.55%
IL 205 4,119,508.47 2.45%
IN 165 3,104,688.88 1.84%
KS 36 685,778.28 0.41%
KY 29 626,464.40 0.37%
LA 34 860,774.97 0.51%
MA 196 3,767,319.39 2.24%
MD 74 1,373,940.28 0.82%
ME 33 605,064.53 0.36%
MI 863 18,222,136.77 10.83%
MN 77 1,616,113.34 0.96%
MO 106 1,908,120.68 1.13%
MS 19 406,116.76 0.24%
MT 28 657,887.09 0.39%
NC 105 2,386,049.11 1.42%
ND 6 127,124.83 0.08%
NE 12 279,129.78 0.17%
NH 73 1,272,308.96 0.76%
NJ 257 6,316,952.97 3.75%
NM 35 873,264.06 0.52%
NV 75 1,880,697.57 1.12%
NY 222 5,648,294.28 3.36%
OH 208 3,888,267.07 2.31%
OK 42 906,629.77 0.54%
OR 141 2,956,216.58 1.76%
PA 220 4,532,741.12 2.69%
RI 10 266,746.88 0.16%
SC 36 806,938.24 0.48%
SD 3 41,404.00 0.02%
TN 63 1,241,877.53 0.74%
UT 43 859,841.49 0.51%
VA 103 2,336,944.10 1.39%
VT 23 489,488.69 0.29%
WA 195 4,495,196.16 2.67%
WI 71 1,161,341.50 0.69%
WY 12 276,134.37 0.16%
Total 7,241 $168,295,306.29 100.00%
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc. BEAR STEARNS
20
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Junior Ratios(1)(2)
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Range of Junior Initial Balance Cut-Off Date
Ratios (%) Subgroup 1 Balance
HELOCs
0.00% to 9.99% 882 $16,483,094.80 9.79%
10.00% to 19.99% 3,198 62,961,637.00 37.41%
20.00% to 29.99% 1,753 47,424,922.67 28.18%
30.00% to 39.99% 782 23,475,850.87 13.95%
40.00% to 49.99% 316 8,359,300.09 4.97%
50.00% to 59.99% 154 4,485,639.62 2.67%
60.00% to 69.99% 67 2,542,180.84 1.51%
70.00% to 79.99% 37 1,124,708.94 0.67%
80.00% to 89.99% 27 678,532.04 0.40%
90.00% to 100.00% 25 759,439.42 0.45%
Total 7,241 $168,295,306.29 100.00%
(1) The Junior Ratio of a HELOC is the ratio (expressed as a percentage)
of the credit limit of such HELOC to the sum of such credit limit and the
outstanding balance of any senior mortgage computed as of the date such
HELOC is underwritten.
(2) The weighted average Junior Ratio of the Initial Subgroup 1 HELOCs as of
the Cut-Off Date is approximately 23.49%.
Loan Rates
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Range of Loan Initial Balance Cut-Off Date
Rates(%) Subgroup 1 Balance
HELOCs
0.001% to 8.000% 5,496 $125,230,610.033 74.41%
8.001% to 9.000% 91 1,837,864.80 1.09%
9.001% to 10.000% 398 8,475,816.44 5.04%
10.001% to 11.000% 3953 8,191,588.05 4.87%
11.001% to 12.000% 291 7,691,271.18 4.57%
12.001% to 13.000% 364 10,861,284.87 6.45%
13.001% to 14.000% 206 6,006,870.92 3.57%
Total 7,241 $168,295,306.299 100.00%
The weighted average Loan Rate of the Initial Subgroouup 1 HELOCs as of the
Cut-Off Date is approximately 7.88%.
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc. BEAR STEARNS
21
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Fully Indexed Gross Margin
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Range of Fully Indexed Initial Balance Cut-Off Date
Gross Margins(%) Subgroup 1 Balance
HELOCs
Less than 0.000% 7 $243,683.80 0.14%
0.000% to 1.000% 3,152 67,069,417.07 39.85%
1.001% to 2.000% 1,831 37,261,039.86 22.14%
2.001% to 3.000% 703 19,158,396.42 11.38%
3.001% to 4.000% 691 20,048,033.61 11.91%
4.001% to 5.000% 854 24,379,167.04 14.49%
5.001% to 6.000% 3 135,568.49 0.08%
Total 7,241 $168,295,306.29 100.00%
The weighted average fully indexed gross margin of the Initial Subgroup 1
HELOCs as of the Cut-Off Date is approximately 2.09% per annum.
Credit Utilization Rates
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Range of Credit Initial Balance Cut-Off Date
Utilization Rates (%) Subgroup 1 Balance
HELOCs
0.01% to 30.00% 1,351 $9,145,692.64 5.43%
30.01% to 35.00% 220 2,497,497.33 1.48%
35.01% to 40.00% 245 3,180,786.98 1.89%
40.01% to 45.00% 189 2,795,297.50 1.66%
45.01% to 50.00% 238 3,577,880.61 2.13%
50.01% to 55.00% 227 3,865,487.43 2.30%
55.01% to 60.00% 221 4,202,899.15 2.50%
60.01% to 65.00% 205 4,294,593.03 2.55%
65.01% to 70.00% 210 4,854,281.41 2.88%
70.01% to 75.00% 303 7,258,975.80 4.31%
75.01% to 80.00% 258 6,578,475.95 3.91%
80.01% to 85.00% 231 6,372,645.29 3.79%
85.01% to 90.00% 263 7,979,480.18 4.74%
90.01% to 95.00% 241 7,369,521.37 4.38%
95.01% to 100.00% 2,825 93,790,526.03 55.73%
100.01% + 14 531,265.59 0.32%
Total 7,241l $168,295,306.29 100.00%
The weighted average Credit Utilization Rate based on the Cut-Off Date
Credit Limit of the Initial Subgroup 1 HELOCs as of the Cut-Off Date is
approximately 83.39%.
- ----------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc. BEAR STEARNS
22
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Credit Limits
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Range of Credit Limits Initial Balance Cut-Off Date
($) Subgroup 1 Balance
HELOCs
$0.01 To $25,000.00 3,167 $40,419,064.71 24.02%
$25,000.01 To $50,000.00 2,962 73,303,829.48 43.56%
$50,000.01 To $75,000.00 569 24,411,158.25 14.50%
$75,000.01 To $100,000.00 504 26,864,230.40 15.96%
$100,000.01To $125,000.00 28 2,315,284.08 1.38%
$125,000.01To $150,000.00 6 694,122.83 0.41%
$175,000.01To $200,000.00 3 229,016.23 0.14%
$225,000.01To $250,000.00 2 58,600.31 0.03%
Total 7,241 $168,295,306.29 100.00%
The average of the Credit Limits of the Initial Subgroup 1 HELOCs as of the
Cut-Off Date is approximately $35,378.22.
Maximum Loan Rates
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Maximum Loan Rates Initial Balance Cut-Off Date
(%) Subgroup 1 Balance
HELOCs
14.001% to 15.000% 134 $2,566,007.77 1.52%
15.001% to 16.000% 105 2,386,049.11 1.42%
17.001% to 18.000% 1,646 34,544,278.83 20.53%
18.001% to 19.000% 5,356 128,798,970.58 76.53%
Total 7,241 $168,295,306.29 100.00%
The weighted average Maximum Loan Rate of the Initial Subgroup 1 HELOCs as
of the Cut-Off Date is approximately 18.31%.
Months Remaining to Scheduled Maturity
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Range of Months Initial Balance Cut-Off Date
Subgroup 1 Balance
HELOCs
0 to 60 7 $123,100.93 0.07%
61 to 120 4,070 76,789,703.04 45.63%
121 to 180 1,285 38,711,065.56 23.00%
241 to 300 1,877 52,621,036.76 31.27%
301 + 2 50,400.00 0.03%
Total 7,241 $168,295,306.29 100.00%
The weighted average months remaining to scheduled maturity of the Initial
Subgroup 1 HELOCs as of the Cut-Off Date is approximately 187 months.
- -------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
23
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Origination Year
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Origination Initial Balance Cut-Off Date
Year Subgroup 1 Balance
HELOCs
1990 1 $45,000.00 0.03%
1993 2 34,735.12 0.02%
1994 2 2,194.97 0.00%
1995 7 116,779.63 0.07%
1996 4 72,369.52 0.04%
1997 15 134,407.54 0.08%
1998 106 1,422,281.64 0.85%
1999 6,614 152,882,256.06 90.84%
2000 490 13,585,281.81 8.07%
Total 7,241 $168,295,306.29 100.00%
Lien Priority
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Lien Initial Balance Cut-Off Date
Position Subgroup 1 Balance
HELOCs
First 212 $8,372,190.89 4.97%
Second 7,029 159,923,115.40 95.03%
Total 7,241l $168,295,306.29 100.00%
Debt-to-Income Ratios
Percent of
Initial
Number of Subgroup 1
Initial Cut-Off Date HELOCs by
Range of Subgroup 1 Balance Cut-Off Date
Debt-to-Income Ratios HELOCs Balance
(%)
0.00% 9.99% 26 $710,290.01 0.42%
10.00% 19.99% 462 8,739,230.05 5.19%
20.00% 29.99% 1,592 32,201,613.49 19.13%
30.00% 39.99% 2,336 52,899,833.11 31.43%
40.00% 49.99% 2,359 60,920,723.07 36.20%
50.00% 59.99% 390 10,842,160.07 6.44%
60.00% 69.99% 60 1,514,081.26 0.90%
70.00% 79.99% 7 242,647.79 0.14%
80.00% 89.99% 2 69,563.03 0.04%
90.00% 7 155,164.41 0.09%
Total 7,241 $168,295,306.29 100.00%
- ------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
24
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Teaser Expiration Month
Percent of
Initial
Subgroup 1
Number of Cut-Off Date HELOCs by
Teaser Expiration Initial Balance Cut-Off Date
Month Subgroup 1 Balance
HELOCs
No Teaser 1,745 $43,064,696.26 25.59%
Date
February 2000 1,052 27,829,753.62 16.54%
March 2000 1,292 33,930,271.42 20.16%
April 2000 740 14,301,696.52 8.50%
May 2000 859 14,424,739.63 8.57%
June 2000 1,230 27,224,982.26 16.18%
July 2000 320 7,443,302.64 4.42%
February 2002 1 11,885.85 0.01%
February 2010 1 48,982.54 0.03%
May 2010 1 14,995.55 0.01%
Total 7,241 $168,295,306.29 100.00%
Documentation Type
Percent of
Initial
Subgroup 1
Number of Cut-Off HELOCs by
Documentation Initial Date Balance Cut-Off Date
Subgroup 1 Balance
HELOCs
Standard 4,706 $121,739,406.07 72.34%
No Income No Appraisal 919 13,772,559.75 8.18%
Family First Direct 663 12,595,767.36 7.48%
No Income Verification 662 12,579,802.86 7.47%
Select 162 4,861,611.57 2.89%
GM EXPANDED FAM 35 892,150.90 0.53%
Super Express 54 884,718.74 0.53%
Streamline 19 677,925.81 0.40%
Alternative 13 144,221.83 0.09%
Express 6 128,907.86 0.08%
Quick 2 18,233.54 0.01%
Total 7,241 $168,295,306.29 100.00%
- ------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
25
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Initial Subgroup 2 HELOC Characteristics
Set forth below is a description of certain characteristics of the Initial
Subgroup 2 HELOCs as of the Cut-Off Date. Unless otherwise specified, all
principal balances of the Initial Subgroup 2 HELOCs are as of the Cut-Off Date
and are rounded to the nearest dollar. All percentages are approximate
percentages by aggregate principal balance as of the Cut-Off Date (except as
indicated otherwise).
Property Type
Percent of
Initial
Subgroup 2
Number of Cut-Off HELOCs by
Property Type Initial Date Balance Cut-Off Date
Subgroup 2 Balance
HELOCs
Condominium 12 $670,013.50 3.80%
PUD 7 640,445.12 3.63%
Single-Family Dwelling 179 16,316,419.39 92.57%
Total 198 $17,626,878.01 100.00%
Occupancy Types
Percent of
Initial
Subgroup 2
Occupancy Number of Cut-Off HELOCs by
(as indicated by Borrower) Initial Date Balance Cut-Off Date
Subgroup 2 Balance
HELOCs
Owner Occupied 194 $17,237,878.01 97.79%
Non-Owner Occupied 4 389,000.00 2.21%
Total 198 $17,626,878.01 100.00%
Principal Balances
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Range of Principal Initial Balance Cut-Off Date
Balances ($) Subgroup 2 Balance
HELOCs
$0.00 to $25,000.00 46 $601,815.74 3.41%
$25,000.01 to $50,000.00 38 1,487,636.74 8.44%
$50,000.01 to $75,000.00 17 1,076,149.86 6.11%
$75,000.01 to $100,000.00 31 2,785,124.17 15.80%
$100,000.01 to $125,000.00 11 1,254,013.24 7.11%
$125,000.01 to $150,000.00 27 3,825,026.29 21.70%
$150,000.01 to $175,000.00 4 652,875.30 3.70%
$175,000.01 to $200,000.00 7 1,313,273.43 7.45%
$200,000.01 + 17 4,630,963.24 26.27%
Total 198 $17,626,878.01 100.00%
The average Principal Balance of the Initial Subgroup 2 HELOCs as of the
Cut-Off Date is approximately $89,024.64.
- ------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
26
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Combined Loan-to-Value Ratios
Percent of
Initial
Subgroup 2
Range of Combined Number of Cut-Off Date HELOCs by
Loan-to-Value Initial Balance Cut-Off Date
Ratios(%) Subgroup 2 Balance
HELOCs
0.000% to 50.000% 8 $764,284.49 4.34%
50.001% to 60.000% 8 1,123,971.08 6.38%
60.001% to 70.000% 20 2,202,080.93 12.49%
70.001% to 80.000% 109 9,077,641.38 51.50%
80.001% to 90.000% 40 3,177,090.93 18.02%
90.001% to 100.000% 13 1,281,809.20 7.27%
Total 198 $17,626,878.01 100.00%
The minimum and maximum Combined Loan-to-Value Ratios of the Initial
Subgroup 2 HELOCs as of the Cut-Off Date are approximately 17.41% and
100.00%, respectively, and the weighted average Combined Loan-to-Value Ratio
of the Initial Subgroup 2 HELOCs as of the Cut-Off Date is approximately
76.30%.
- ------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
27
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Geographical Distributions
Percent of
Initial
Subgroup 2
Number of Cut-Off HELOCs by
Location Initial Date Balance Cut-Off Date
Subgroup 2 Balance
HELOCs
AK 1 $100,000.00 0.57%
AZ 3 184,160.68 1.04%
CA 66 6,158,430.30 34.94%
CO 7 806,706.59 4.58%
CT 9 423,621.42 2.40%
FL 4 315,138.66 1.79%
GA 5 337,854.27 1.92%
HI 1 153,516.50 0.87%
IL 3 62,939.41 0.36%
IN 2 32,572.52 0.18%
KS 2 224,250.00 1.27%
MA 1 64,336.56 0.36%
MD 2 54,071.80 0.31%
MI 61 4,528,429.20 25.69%
MN 2 226,950.00 1.29%
MO 1 45,282.85 0.26%
NC 1 90,499.65 0.51%
NH 1 11,511.95 0.07%
NJ 9 1,007,389.26 5.72%
NM 1 74,420.67 0.42%
NV 1 128,042.46 0.73%
NY 2 386,000.00 2.19%
OH 2 260,332.60 1.48%
OR 1 140,000.00 0.79%
PA 4 514,830.54 2.92%
SC 1 220,000.00 1.25%
UT 1 88,876.82 0.50%
WA 4 986,713.30 5.60%
Total 198 $17,626,878.01 100.00%
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
28
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Junior Ratios(1)(2)
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Range of Junior Initial Balance Cut-Off Date
Ratios (%) Subgroup 2 Balance
HELOCs
0.00% to 9.99% 2 $148,000.00 0.84%
10.00% to 19.99% 30 1,416,770.69 8.04%
20.00% to 29.99% 35 2,671,723.82 15.16%
30.00% to 39.99% 49 4,003,374.03 22.71%
40.00% to 49.99% 28 3,546,191.85 20.12%
50.00% to 59.99% 23 2,142,259.49 12.15%
60.00% to 69.99% 11 1,123,331.58 6.37%
70.00% to 79.99% 12 2,117,467.35 12.01%
80.00% to 89.99% 6 441,558.11 2.51%
90.00% to 100.00% 2 16,201.09 0.09%
Total 198 $17,626,878.01 100.00%
(1) The Junior Ratio of a HELOC is the ratio (expressed as a percentage)
of the credit limit of such HELOC to the sum of such credit limit and the
outstanding balance of any senior mortgage computed as of the date such
HELOC is underwritten.
(2) The weighted average Junior Ratio of the Initial Subgroup 2 HELOCs as of
the Cut-Off Date is approximately 44.05%.
Loan Rates
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Range of Loan Initial Balance Cut-Off Date
Rates(%) Subgroup 2 Balance
HELOCs
0.001% to 8.000% 161 $15,053,324.77 85.40%
8.001% to 9.000% 3 219,328.02 1.24%
9.001% to 10.000% 13 686,075.21 3.89%
10.001% to 11.000% 10 791,314.45 4.49%
11.001% to 12.000% 6 397,505.30 2.26%
12.001% to 13.000% 2 139,446.62 0.79%
13.001% to 14.000% 3 339,883.64 1.93%
Total 198 $17,626,878.01 100.00%
The weighted average Loan Rate of the Initial Subgroup 2 HELOCs as of the
Cut-Off Date is approximately 7.27%.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
29
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Fully Indexed Gross Margin
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Range of Fully Indexed Initial Balance Cut-Off Date
Gross Margins(%) Subgroup 2 Balance
HELOCs
Less 0.000% 1 $20,500.00 0.12%
than
0.000% to 1.000% 126 12,157,132.77 68.97%
1.001% to 2.000% 42 2,861,822.56 16.24%
2.001% to 3.000% 14 1,126,806.54 6.39%
3.001% to 4.000% 10 991,365.56 5.62%
4.001% to 5.000% 5 469,250.58 2.66%
Total 198 $17,626,878.01 100.00%
The weighted average fully indexed gross margin of the Initial Subgroup 2
HELOCs as of the Cut-Off Date is approximately 1.14% per annum.
Credit Utilization Rates
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Range of Credit Initial Balance Cut-Off Date
Utilization Rates (%) Subgroup 2 Balance
HELOCs
0.01% to 30.00% 52 $960,807.51 5.45%
30.01% to 35.00% 10 633,580.26 3.59%
35.01% to 40.00% 4 211,540.28 1.20%
40.01% to 45.00% 6 423,930.28 2.41%
45.01% to 50.00% 4 326,272.78 1.85%
50.01% to 55.00% 6 433,135.42 2.46%
55.01% to 60.00% 7 737,180.24 4.18%
60.01% to 65.00% 7 916,775.70 5.20%
65.01% to 70.00% 5 510,677.35 2.90%
70.01% to 75.00% 7 689,350.36 3.91%
75.01% to 80.00% 7 1,045,158.49 5.93%
80.01% to 85.00% 8 984,307.99 5.58%
85.01% to 90.00% 3 356,581.94 2.02%
90.01% to 95.00% 6 741,767.76 4.21%
95.01% to 100.00% 66 8,655,811.65 49.11%
Total 198 $17,626,878.01 100.00%
The weighted average Credit Utilization Rate based on the Cut-Off Date
Credit Limit of the Initial Subgroup 2 HELOCs as of the Cut-Off Date is
approximately 80.00%.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
30
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Credit Limits
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Range of Credit Limits Initial Balance Cut-Off Date
($) Subgroup 2 Balance
HELOCs
$0.01 To $25,000.00 1 $12,000.00 0.07%
$25,000.01 To $50,000.00 25 690,462.06 3.92%
$50,000.01 To $75,000.00 12 612,005.29 3.47%
$75,000.01 To $100,000.00 37 1,882,041.37 10.68%
$100,000.01To $125,000.00 2 241,649.60 1.37%
$125,000.01To $150,000.00 56 5,218,915.43 29.61%
$150,000.01To $175,000.00 8 825,565.86 4.68%
$175,000.01To $200,000.00 20 1,882,564.77 10.68%
$200,000.01To $225,000.00 9 1,563,706.64 8.87%
$225,000.01To $250,000.00 19 2,507,676.31 14.23%
$250,000.01To $275,000.00 2 511,302.89 2.90%
$275,000.01To $300,000.00 2 94,224.69 0.53%
$425,000.01To $450,000.00 1 27,416.33 0.16%
$575,000.01To $600,000.00 1 325,175.50 1.84%
$650,000.01To $675,000.00 1 500,000.00 2.84%
$675,000.01To $700,000.00 1 236,860.05 1.34%
$775,000.01To $800,000.00 1 495,311.22 2.81%
Total 198 $17,626,878.01 100.00%
The average of the Credit Limits of the Initial Subgroup 2 HELOCs as of the
Cut-Off Date is approximately $150,210.61.
Maximum Loan Rates
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Maximum Loan Rates Initial Balance Cut-Off Date
(%) Subgroup 2 Balance
HELOCs
14.001% to 15.000% 1 $45,282.85 0.26%
15.001% to 16.000% 1 90,499.65 0.51%
17.001% to 18.000% 76 5,551,525.84 31.49%
18.001% to 19.000% 120 11,939,569.67 67.74%
Total 198 $17,626,878.01 100.00%
The weighted average Maximum Loan Rate of the Initial Subgroup 2 HELOCs as
of the Cut-Off Date is approximately 18.32%.
Months Remaining to Scheduled Maturity
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Range of Months Initial Balance Cut-Off Date
Subgroup 2 Balance
HELOCs
61 to 120 132 $11,474,882.33 65.10%
121 to 180 15 1,522,270.25 8.64%
241 to 300 50 4,479,725.43 25.41%
301 + 1 150,000.00 0.85%
Total 198 $17,626,878.01 100.00%
The weighted average months remaining to scheduled maturity of the Initial
Subgroup 2 HELOCs as of the Cut-Off Date is approximately 170 months.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
31
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Origination Year
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Origination Initial Balance Cut-Off Date
Year Subgroup 2 Balance
HELOCs
1993 1 $6,450.00 0.04%
1998 3 31,306.00 0.18%
1999 171 15,897,129.41 90.19%
2000 23 1,691,992.60 9.60%
Total 198l $17,626,878.01 100.00%
Lien Priority
Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Lien Initial Balance Cut-Off Date
Position Subgroup 2 Balance
HELOCs
First 1 $136,000.00 0.77%
Second 197 17,490,878.01 99.23%
Total 198 $17,626,878.01 100.00%
Debt-to-Income Ratios
Percent of
Initial
Number of Subgroup 2
Initial Cut-Off Date HELOCs by
Range of Subgroup 2 Balance Cut-Off Date
Debt-to-Income Ratios HELOCs Balance
(%)
0.00% 9.99% 1 $248,209.28 1.41%
10.00% 19.99% 12 1,562,187.01 8.86%
20.00% 29.99% 31 1,929,247.31 10.94%
30.00% 39.99% 66 6,143,095.78 34.85%
40.00% 49.99% 74 6,242,117.66 35.41%
50.00% 59.99% 9 711,676.74 4.04%
60.00% 69.99% 4 640,344.23 3.63%
80.00% 89.99% 1 150,000.00 0.85%
Total 198 $17,626,878.01 100.00%
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
32
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Teaser Expiration Month
- ------------------ -------------- Percent of
Initial
Subgroup 2
Number of Cut-Off Date HELOCs by
Teaser Expiration Initial Balance Cut-Off Date
Month Subgroup 2 Balance
HELOCs
No Teaser Date 37 $2,573,553.24 14.60%
Date
February 23 1,892,448.44 10.74%
2000
March 2000 54 5,289,050.17 30.01%
April 2000 23 1,763,903.70 10.01%
May 2000 14 2,048,329.64 11.62%
June 2000 34 3,133,039.39 17.77%
July 2000 13 926,553.43 5.26%
Total 198l $17,626,878.01 100.00%
Documentation Type
Percent of
Initial
Subgroup 2
Number of Cut-Off HELOCs by
Documentation Initial Date Balance Cut-Off Date
Subgroup 2 Balance
HELOCs
Standard 109 $10,406,116.22 59.04%
Select 43 4,808,208.82 27.28%
Family First Direct 25 1,339,176.94 7.60%
No Income Verification 10 451,443.80 2.56%
Streamline 4 373,626.47 2.12%
GM EXPANDED FAM 1 146,226.13 0.83%
No Income No Appraisal 4 90,679.63 0.51%
Super Express 2 11,400.00 0.06%
Total 198 $17,626,878.01 100.00%
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
33
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Initial HEL Characteristics
Set forth below is a description of certain characteristics of the Initial
HELs as of the Cut-Off Date. Unless otherwise specified, all principal balances
of the Initial HELs are as of the Cut-Off Date and are rounded to the nearest
dollar. All percentages are approximate percentages by aggregate principal
balance as of the Cut-Off Date (except as indicated otherwise).
Property Type
Percent of
Initial HELs
Number of Cut-Off by
Property Type Initial HELs Date Balance Cut-Off Date
Balance
Condo 101 $2,146,180.03 5.37%
Duplex - Fourplex 6 110,287.89 0.28%
Manufactured Housing 5 73,552.49 0.18%
PUD 60 1,976,543.33 4.95%
Single Family 1,354 35,402,053.23 88.65%
Two Family 10 224,451.53 0.56%
Total 1,536To $39,933,068.50 100.00%
Occupancy Types
Percent of
Initial HELs
Occupancy Number of Cut-Off by
(as indicated by Borrower) Initial HELs Date Balance Cut-Off Date
Balance
Owner Occupied 1,528 $39,803,466.79 99.68%
Non-Owner Occupied 8 129,601.71 0.32%
1,536 $39,933,068.50 100.00%
Total
Principal Balances
Percent of
Initial HELs
Number of Cut-Off Date by
Range of Principal Initial HELs Balance Cut-Off Date
Balances ($) Balance
$0.00 to $25,000.00 974 $16,035,612.13 40.16%
$25,000.01 to $50,000.00 453 16,318,028.77 40.86%
$50,000.01 to $75,000.00 86 5,200,076.42 13.02%
$75,000.01 to $100,000.00 16 1,437,474.39 3.60%
$100,000.01 to $125,000.00 3 333,900.00 0.84%
$125,000.01 to $150,000.00 3 448,493.59 1.12%
$150,000.01 to $175,000.00 1 159,483.20 0.40%
Total 1,536 $39,933,068.50 100.00%
The average Principal Balance of the Initial HELs as of the Cut-Off Date is
approximately $25,998.09.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
34
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Geographical Distributions
Percent of
Number of Cut-Off Initial HELs
Location Initial HELs Date Balance by
Cut-Off Date
Balance
AK 2 $176,858.87 0.44%
AL 15 366,163.37 0.92%
AR 3 63,734.03 0.16%
AZ 42 835,103.12 2.09%
CA 529 15,927,610.04 39.89%
CO 26 658,323.85 1.65%
CT 28 928,457.54 2.33%
DE 5 91,537.07 0.23%
FL 71 1,654,290.22 4.14%
GA 43 1,307,270.27 3.27%
HI 4 134,398.21 0.34%
IA 16 195,903.09 0.49%
ID 11 248,775.19 0.62%
IL 39 941,239.43 2.36%
IN 25 538,305.16 1.35%
KS 8 200,655.30 0.50%
KY 5 131,371.00 0.33%
LA 8 163,403.58 0.41%
MA 46 1,114,780.31 2.79%
MD 23 544,023.26 1.36%
ME 10 304,797.68 0.76%
MI 68 1,474,161.34 3.69%
MN 17 400,454.43 1.00%
MO 31 659,895.61 1.65%
MS 10 264,838.70 0.66%
MT 2 82,459.71 0.21%
NC 27 697,442.04 1.75%
NH 9 162,011.32 0.41%
NJ 31 747,787.52 1.87%
NM 12 249,445.14 0.62%
NV 11 218,276.88 0.55%
NY 49 1,371,559.06 3.43%
OH 27 704,320.94 1.76%
OK 17 387,337.02 0.97%
OR 18 418,287.99 1.05%
PA 56 1,161,198.43 2.91%
RI 4 98,707.72 0.25%
SC 4 103,824.57 0.26%
TN 16 379,101.30 0.95%
TX 62 1,423,570.15 3.56%
UT 9 140,708.68 0.35%
VA 25 620,996.22 1.56%
VT 3 48,896.02 0.12%
WA 38 930,381.20 2.33%
WI 18 404,575.29 1.01%
WV 11 220,196.77 0.55%
WY 2 35,633.86 0.09%
Total 1,536 $39,933,068.50 100.00%
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
35
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Combined Loan-to-Value Ratios
Percent of
Initial HELs
Range of Combined Number of Cut-Off Date by
Loan-to-Value Ratios Initial HELs Balance Cut-Off Date
(%) Balance
0.001% to 50.000% 101 $2,311,752.32 5.79%
50.001% to 60.000% 81 1,916,983.05 4.80%
60.001% to 70.000% 146 3,659,078.83 9.16%
70.001% to 80.000% 494 12,822,238.16 32.11%
80.001% to 90.000% 597 15,391,664.74 38.54%
90.001% to 100.000% 117 3,831,351.40 9.59%
Total 1,536 $39,933,068.50 100.00%
The minimum and maximum Combined Loan-to-Value Ratios of the Initial HELs as of
the Cut-Off Date are approximately 6.00% and 100.00%, respectively, and the
weighted average Combined Loan-to-Value Ratio of the Initial HELs as of the
Cut-Off Date is approximately 78.40%.
Junior Ratios(1)(2)
Percent of
Initial HELs
Number of Cut-Off Date by
Range of Junior Initial HELs Balance Cut-Off Date
Ratios (%) Balance
0.00% to 9.99% 239 $3,812,782.27 9.55%
10.00% to 19.99% 721 16,787,558.15 42.04%
20.00% to 29.99% 346 10,907,098.51 27.31%
30.00% to 39.99% 137 4,744,404.56 11.88%
40.00% to 49.99% 55 2,374,814.61 5.95%
50.00% to 59.99% 23 791,449.20 1.98%
60.00% to 69.99% 5 198,492.60 0.50%
70.00% to 79.99% 7 196,773.19 0.49%
80.00% to 89.99% 2 85,195.41 0.21%
90.00% to 99.99% 1 34,500.00 0.09%
Total 1,536 $39,933,068.50 100.00%
(1) The Junior Ratio of a HEL is the ratio (expressed as a percentage) of the
outstanding balance of such HEL to the sum of such outstanding balance and the
outstanding balance of any senior mortgage computed as of the date such HEL is
underwritten.
(2) The weighted average Junior Ratio of the Initial HELs as of the Cut-Off Date
is approximately 22.11%.
Loan Rates
Percent of
Initial HELs
Number of Cut-Off Date by
Range of Loan Initial HELs Balance Cut-Off Date
Rates(%) Balance
0.001% to 8.000% 30 $335,094.26 0.84%
8.001% to 9.000% 18 569,409.50 1.43%
9.001% to 10.000% 605 16,270,524.75 40.74%
10.001% to 11.000% 536 13,983,747.56 35.02%
11.001% to 12.000% 264 6,596,577.75 16.52%
12.001% to 13.000% 81 2,119,921.04 5.31%
13.001% to 14.000% 1 27,800.00 0.07%
16.001% to 17.000% 1 29,993.64 0.08%
Total 1,536 $39,933,068.50 100.00%
The weighted average Loan Rate of the Initial HELs as of the Cut-Off Date is
approximately 10.41%.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
36
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Months Remaining to Scheduled Maturity
Percent of
Initial HELs
Number of Cut-Off Date by
Range of Months Initial HELs Balance Cut-Off Date
Balance
0 to 60 169 $2,549,072.00 6.38%
61 to 120 405 8,571,768.72 21.47%
121 to 180 753 21,803,986.42 54.60%
181 to 240 188 6,220,002.76 15.58%
241 to 300 7 213,436.47 0.53%
301 + 14 574,802.13 1.44%
Total 1,536 $39,933,068.50 100.00%
The weighted average months remaining to scheduled maturity of the Initial
HELs as of the Cut-Off Date is approximately 162 months.
Lien Priority
Percent of
Initial HELs
Number of Cut-Off Date by
Lien Position Initial HELs Balance Cut-Off Date
Balance
First 32 $1,063,235.31 2.66%
Second 1,504 38,869,833.19 97.34%
Total 1,536 $39,933,068.50 100.00%
Origination Year
Percent of
Initial HELs
Number of Cut-Off Date by
Origination Initial Balance Cut-Off Date
Year HELs Balance
1997 2 $37,867.16 0.09%
1999 1,403 35,907,815.07 89.92%
2000 131 3,987,386.27 9.99%
Total 1,536 $39,933,068.50 100.00%
Debt-to-Income Ratios
Percent of
Number of Cut-Off Date Initial HELs by
Range of Debt-to-Income Initial HELs Balance Cut-Off Date
Ratios (%) Balance
0.00% 9.99% 6 $180,450.20 0.45%
10.00% 19.99% 47 1,140,738.56 2.86%
20.00% 29.99% 258 5,765,240.38 14.44%
30.00% 39.99% 488 1 2,424,866.26 31.11%
40.00% 49.99% 642 1 7,608,829.31 44.10%
50.00% 59.99% 86 2,490,557.96 6.24%
60.00% 69.99% 9 322,385.83 0.81%
Total 1,536 $39,933,068.50 100.00%
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
37
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- -------------------------------------------------------------------------------
Documentation Type
Percent of
Number of Cut-Off Initial HELs
Documentation Initial HELs Date Balance by
Cut-Off Date
Balance
Standard 980 $27,240,091.44 68.21%
No Income No Appraisal 350 7,705,140.22 19.30%
No Income Verification 90 2,471,670.73 6.19%
Family First Direct 93 1,883,810.91 4.72%
Super Express 14 308,783.15 0.77%
Select 5 223,748.82 0.56%
GM Expanded FAM 3 80,057.18 0.20%
Streamline 1 19,766.05 0.05%
Total 1,536l $39,933,068.50 100.00%
The information set forth in the preceding sections is based upon
information provided by the Seller and tabulated by the Depositor. The
Depositor makes no representation as to the accuracy or completeness of such
information.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
38
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
SENSITIVITY TABLES
<TABLE>
Class A-1 (to call)
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Gross CPR - HELOCs 10% 25% 30% 35% 40% 45% 50%
PPC- HELs 0% 50% 75% 100% 125% 150% 175%
- --------------------------------------------------------------------------------------------------
Average Life (years) 8.34 4.57 3.92 3.42 3.03 2.73 2.48
Modified Duration (years) 6.13 3.73 3.28 2.92 2.63 2.40 2.20
First Principal Payment 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01 03/25/01 3/25/01
Last Principal Payment 9/25/13 2/25/09 12/25/07 12/25/06 2/25/06 7/25/05 2/25/04
Principal Lockout (months) 12 12 12 12 12 12 12
Principal Window (months) 151 96 82 70 60 53 46
Illustrative Yield a7 Par
30/360 6.30% 6.30% 6.30% 6.30% 6.30% 6.29% 6.29%
- --------------------------------------------------------------------------------------------------
Class A-2 (to call)
Gross CPR - HELOCs 10% 25% 30% 35% 40% 45% 50%
PPC- HELs 0% 50% 75% 100% 125% 150% 175%
- --------------------------------------------------------------------------------------------------
Average Life (years) 7.70 4.43 3.82 3.36 2.99 2.70 2.46
Modified Duration (years) 5.76 3.63 3.20 2.87 2.59 2.37 2.18
First Principal Payment 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01
Last Principal Payment 8/25/12 10/25/08 9/25/07 10/25/06 1/25/06 6/25/05 11/25/04
Principal Lockout (months) 12 12 12 12 12 12 12
Principal Window (months) 138 92 79 68 59 52 45
Illustrative Yield Par
30/360 6.33% 6.33% 6.33% 6.33% 6.33% 6.33% 6.33%
- --------------------------------------------------------------------------------------------------
Class A-3 (to call)
- --------------------------------------------------------------------------------------------------
Gross CPR - HELOCs 10% 25% 30% 35% 40% 45% 50%
PPC- HELs 0% 50% 75% 100% 125% 150% 175%
- --------------------------------------------------------------------------------------------------
Average Life (years) 8.23 4.79 3.78 3.07 2.57 2.20 1.92
Modified Duration (years) 5.55 3.60 2.98 2.51 2.16 1.89 1.68
First Principal Payment 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last Principal Payment 12/25/12 6/25/10 9/25/08 2/25/07 12/25/05 12/25/05 5/25/04
Principal Lockout (months) 4 4 4 4 4 4 4
Principal Window (months) 150 120 99 80 66 55 47
Illustrative Yield @ Par
30/360 8.02% 7.97% 7.94% 7.90% 7.87% 7.83% 7.80%
- --------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
</TABLE>
* Assumes in the case of HEGOCs, a Gross CPR as disclosed above less a
constant draw rate of 10'%, and in the case of the HELs, the percentage of the
prepayment assumption disclosed above.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
39
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
<TABLE>
SENSITIVITY TABLES
Class A-1
(to
maturity)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Gross CPR 10% 25% 30% 35% 40% 45% 50%
- - HELOCs
PPC- HELs 0% 50% 75% 100% 125% 150% 175%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Average
Life
(years) 8.44 4.76 4.10 3.58 3.18 2.86 2.59
Modified
Duration
(years) 6.17 3.83 3.37 3.01 2.72 2.48 2.28
First
Principal
Payment 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01
Last
Principal
Payment 9/25/15 4/25/15 8/25/14 7/25/13 2/25/12 9/25/10 6/25/09
Principal
Lockout 12 12 12 12 12 12 12
(months)
Principal
Window
(months) 175 170 162 149 132 115 100
Illustrative
Yield @
Par 30/360 6.30% 6.30% 6.30% 6.30% 6.30% 6.30% 6.30%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Class A-2
(to
maturity)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Gross CPR 10% 25% 30% 35% 40% 45% 50%
- - HELOCs
PPC- HELs 0% 50% 75% 100% 125% 150% 175%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
40
<PAGE>
Average
Life
(years) 7.77 4.60 3.99 3.51 3.13 2.82 2.57
Modified
Duration
(years) 5.79 3.72 3.30 2.96 2.68 2.45 2.25
First
Principal
Payment 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01 3/25/01
Last
Principal
Payment 4/25/14 12/25/13 7/25/13 9/25/12 8/25/11 5/25/10 3/25/09
Principal
Lockout
(months) 12 12 12 12 12 12 12
Principal
Window
(months) 158 154 149 139 126 111 97
Illustrative
Yield @,
Par
(30/360) 6.33% 6.33% 6.34% 6.34% 6.34% 6.33% 6.33%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Class A-3
(to
maturity)
Gross CPR
- - HELOCs 10% 25% 30% 35% 40% 45% 50%
PPC- HELs 0% 50% 75% 100% 125% 150% 175%
Average
(years) 8.26 4.92 3.96 3.25 2.74 2.35 2.04
Life
Modified
Duration
(years) 5.56 3.65 3.06 2.60 2.26 1.98 1.76
First
Principal
Payment 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last
Principal
Payment 8/25/13 6/25/13 3/25/13 7/25/12 5/25/11 1/25/10 10/25/08
Principal
Lockout
(months) 4 4 4 4 4 4 4
Principal
Window
(months) 158 156 153 145 131 115 100
Illustrative
Yield Par
30/360 8.02% 7.98% 7.95% 7.93% 7.90% 7.87% 7.83%
- --------------------------------------------------------------------------------
* Assumes in the case of HELOCs, a Gross CPR as disclosed above less a
constant draw rate of 10%, and in the case of tire HEGs, the percentage of the
prepayment assumption disclosed above.
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
41
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
SENSITIVITY TABLES
PERCENTAGE OF INITIAL CLASS A-1 TERM NOTE BALANCE (1)(2)(3)
Payment Date Percentage of Balance
----------------------------------------
Gross CPR - HELOCs 10% 25% 30% 35% 40% 45% 50%
----------------------------------------
100 100 100 100 100 100 100
Initial....................
100 100 100 100 100 100 100
February 2001..............
97 81 75 70 64 59 53
February 2002..............
94 65 56 48 41 35 29
February 2003..............
90 52 42 34 26 20 15
February 2004..............
86 41 31 23 17 12 8
February 2005..............
73 29 21 14 9 6 4
February 2006..............
61 20 13 9 5 3 1
February 2007..............
51 14 9 5 3 1 *
February 2008..............
41 10 5 3 1 * *
February 2009..............
33 6 3 2 1 * 0
February 2010..............
25 4 2 1 * 0 0
February 2011..............
19 2 1 * 0 0 0
February 2012..............
13 1 * * 0 0 0
February 2013..............
7 1 * 0 0 0 0
February 2014..............
2 * 0 0 0 0 0
February 2015..............
0 0 0 0 0 0 0
February 2016..............
8.34 4.57 3.92 3.42 3.03 2.73 2.48
Weighted Average Life to
10% call (years)...........
8.44 4.76 4.10 3.58 3.18 2.86 2.59
Weighted Average Life to
maturity (years)...........
(1)...Assumes (i) except where indicated, that no optional termination is
exercised and (ii) in the case of the HELOCs, a Gross CPR as disclosed
above less a constant draw rate of 10.0%.
(2) All percentages are rounded to the nearest 1%.
(3) * less than 1% but greater than 0.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
42
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
PERCENTAGE OF INITIAL CLASS A-2 TERM NOTE BALANCE (1)(2)(3)
Payment Date Percentage of Balance
----------------------------------------
Gross CPR - HELOCs 10% 25% 30% 35% 40% 45% 50%
----------------------------------------
100 100 100 100 100 100 100
Initial....................
100 100 100 100 100 100 100
February 2001..............
96 80 75 69 64 58 53
February 2002..............
92 63 55 47 40 34 28
February 2003..............
87 50 41 33 26 20 15
February 2004..............
82 39 30 22 16 11 8
February 2005..............
68 27 19 13 9 6 3
February 2006..............
56 19 12 8 5 3 1
February 2007..............
45 12 8 4 2 1 *
February 2008..............
35 8 5 2 1 * *
February 2009..............
27 5 3 1 * * 0
February 2010..............
19 3 1 * * 0 0
February 2011..............
12 1 1 * 0 0 0
February 2012..............
6 * * 0 0 0 0
February 2013..............
1 0 0 0 0 0 0
February 2014..............
0 0 0 0 0 0 0
February 2015..............
0 0 0 0 0 0 0
February 2016..............
7.70 4.43 3.82 3.36 2.99 2.70 2.46
Weighted Average Life to
10% call (years)...........
7.77 4.60 3.99 3.51 3.13 2.82 2.57
Weighted Average Life to
maturity (years)...........
======
(1)...Assumes (i) except where indicated, that no optional termination is
exercised and (ii) in the case of the HELOCs, a Gross CPR as
disclosed above less a constant draw rate of 10.0%.
(2) All percentages are rounded to the nearest 1%.
(3) * less than 1% but greater than 0.
43
<PAGE>
- -------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- -------------------------------------------------------------------------------
PERCENTAGE OF INITIAL CLASS A-3 TERM NOTE BALANCE (1)(2)(3)
Payment Date Percentage of Balance
----------------------------------------
0% 50% 75% 100% 125% 150% 175%
PPC - HELs
----------------------------------------
100 100 100 100 100 100 100
Initial....................
96 90 86 83 79 75 71
February 2001..............
92 75 67 59 51 44 38
February 2002..............
88 62 51 42 34 26 20
February 2003..............
83 51 39 30 22 16 11
February 2004..............
77 42 30 21 14 9 5
February 2005..............
71 34 22 14 9 5 3
February 2006..............
64 27 16 10 5 3 1
February 2007..............
57 21 12 6 3 1 *
February 2008..............
49 16 8 4 2 * 0
February 2009..............
40 11 5 2 1 0 0
February 2010..............
30 7 3 1 * 0 0
February 2011..............
19 4 1 * 0 0 0
February 2012..............
6 1 * 0 0 0 0
February 2013..............
0 0 0 0 0 0 0
February 2014..............
8.23 4.79 3.78 3.07 2.57 2.20 1.92
Weighted Average Life to
10% call (years)...........
8.26 4.92 3.96 3.25 2.74 2.35 2.04
Weighted Average Life to
maturity (years)...........
======
(1)...Assumes (i) except where indicated, that no optional termination is
exercised and (ii) in the case of the HELs, the percentage of the
pricing prepayment assumption disclosed above.
(2) All percentages are rounded to the nearest 1%.
(3) * less than 1% but greater than 0.
44
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
BEAR STEARNS Bear, Stearns & Co. Inc.
ATLANTA o BOSTON o CHICAGO Asset-Backed Securities Group
DALLAS o DC o LOS ANGELES o NEW YORK o SAN FRANCISCO 245 Park Avenue
FRANKFORT o GENEVA o HONG KONG New York, New York 10167
LONDON o PARIS o TOKYO (212) 272-2000; (212) 272-7294 fax
- -----------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1: Computational Materials for Class
A-3 Term Notes
- -----------------------------------------------------------------------------
- ------------------------------------------------------------------------------
Fax to: Date: 2/22/00
Company: # Pages 14
(incl. cover):
Fax No: Phone No:
- ------------------------------------------------------------------------------
From: Phone No:
- ------------------------------------------------------------------------------
Statement Regarding Assumptions as to Securities, pricing estimates, and
other Information
The information contained in the attached materials (the "Information") may
include various forms of performance analysis, security characteristics and
securities pricing estimates for the securities addressed. Please read and
understand this entire statement before utilizing the Information. The
Information is provided solely by Bear Stearns, not as agent for any issuer,
seller or servicer, and although it may be based on data supplied to it by an
issuer, seller or servicer, none of the issuer, seller or servicer makes any
representations regarding its accuracy or completeness. Should you receive
Information that refers to the "Statement Regarding Assumptions and Other
Information," please refer to this statement instead.
The Information is illustrative and is not intended to predict actual results
which may differ substantially from those reflected in the Information.
Performance analysis is based on certain assumptions with respect to significant
factors that may prove not to be as assumed. You should understand the
assumptions and evaluate whether they are appropriate for your purposes.
Performance results are based on mathematical models that use inputs to
calculate results. As with all models, results may vary significantly depending
upon the value of the inputs given. Inputs to these models include but are not
limited to: prepayment expectations (economic prepayment models, single expected
lifetime prepayments or a vector of periodic prepayments), interest rate
assumptions (parallel and nonparallel changes for different maturity
instruments), collateral assumptions (actual pool level data, aggregated pool
level data, reported factors or imputed factors), volatility assumptions
(historically observed or implied current) and reported information (paydown
factors, rate resets, and trustee statements). Models used in any analysis may
be proprietary making the results difficult for any third party to reproduce.
Contact your registered representative for detailed explanations of any modeling
techniques employed in the Information.
The Information addresses only certain aspects of the applicable security's
characteristics and thus does not provide a complete assessment. As such, the
Information may not reflect the impact of all structural characteristics of the
security, including call events and cash flow priorities at all prepayment
speeds and/or interest rates. You should consider whether the behavior of these
securities should be tested as assumptions different from those included in the
Information. The assumptions underlying the Information, including structure and
collateral, may be modified from time to time to reflect changed circumstances.
Any investment decision should be based only on the data in the prospectus and
the prospectus supplement or private placement memorandum (Offering Documents)
and the then current version of the Information. Offering Documents contain data
that is current as of their publication dates and after publication may no
longer be complete or current. Contact your registered representative for
Offering Documents, current Information or additional materials, including other
models for performance analysis, which are likely to produce different results,
and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent
our view, at the time determined, of the investment value of the securities
between the estimated bid and offer levels, the spread between which may be
significant due to market volatility or illiquidity, (b) do not constitute a bid
by any person for any security, (c) may not constitute prices at which the
securities could have been purchased or sold in any market, (d) have not been
confirmed by actual trades, may vary from the value Bear Stearns assigns any
such security while in its inventory, and may not take into account the size of
a position you have in the security, and (e) may have been derived from matrix
pricing that uses data relating to other securities whose prices are more
readily ascertainable to produce a hypothetical price based on the estimated
yield spread relationship between the securities.
1
<PAGE>
General Information: The data underlying the Information has been obtained from
sources that we believe are reliable, but we do not guarantee the accuracy of
the underlying data or computations based thereon. Bear, Stearns and/or
individuals thereof may have positions in these securities while the Information
is circulating or during such period may engage in transactions with the issuer
or its affiliates. We act as principal in transactions with you, and
accordingly, you must determine the appropriateness for you of such transactions
and address any legal, tax, or accounting considerations applicable to you. Bear
Stearns shall not be a fiduciary or advisor unless we have agreed in writing to
receive compensation specifically to act in such capacities. If you are subject
to ERISA, the Information is being furnished on the condition that it will not
form a primary basis for any investment decision. The Information is not a
solicitation of any transaction in securities which may be made only by
prospectus when required by law, in which event you may obtain such prospectus
from Bear Stearns.
---------------------------------------------------------------------------
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials
may only use or rely on the information contained herein if read in
conjunction with the related Prospectus and Prospectus Supplement. If you
have not received the statement described above or the related Prospectus
and Prospectus Supplement, please contact your account executive at Bear,
Stearns & Co. Inc.
BEAR STEARNS
2
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
TERM NOTES (PRICED TO CALL)
<TABLE>
- ----------------------------------------------------------------------------------------------------
Average Average Modified Modified Principal Principal
Expected Life to Life to Duration Duration Window to Window to Legal
Class Ratings Approximate Expected Maturity(1) Call(1) to Maturity(1) to Maturity(1) Maturity(1) Call(1) Final
Description* S&P/Moody's Size Coupon (years) (years) (years) (years) (months) (months) Maturity
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 Term AAA/Aaa $[225,000,000] LIBOR+____% [ ] [ ] [ ] [ ] [ ] [ ] [2/25/2030]
Notes
A-2 Term AAA/Aaa $[25,000,000] LIBOR+____% [ ] [ ] [ ] [ ] [ ] [ ] [2/25/2030]
Notes
A-3 Term AAA/Aaa $[50,000,000] ____% [3.25] [3.07] [2.60] [2.51] [145] [80] [2/25/2030]
Notes
- --------------------------------------------------------------------------------
</TABLE>
* Bold denotes Offered Notes.
-----------------------------------------------------------------------
The Notes:
o The Class A-1 Term Notes are backed by conforming adjustable rate
home equity revolving credit line loans ("HELOCs"), the Class A-2
Term Notes are backed by non-conforming HELOCs and the Class A-3
Term Notes are backed by fixed rate home equity loans ("HELs").
o During a 12 month revolving period with respect to the Class A-1 and
Class A-2 Term Notes, GMACM will sell HELOCs and draws on the HELOCs
to the trust. After the initial 12 month revolving period on the
HELOCs, for the next 48 months only additional draws on the HELOCs
will be sold to the trust and thereafter, no additional collateral
will be sold to the trust on behalf of the Class A-1 and Class A-2
Term Notes.
o During a 4 month revolving period with respect to the Class A-3 Term
Notes, GMACM will sell only HELs to the trust. After the initial 4
month revolving period on the HELs, no additional collateral will be
sold to the trust on behalf of the Class A-3 Term Notes.
o The Term Notes are priced to call. The spread to LIBOR will double
on the Class A-1 and Class A-2 Term Notes if the respective Term
Notes are not called upon their aggregate principal balance
declining to 10% of their initial principal balance. The coupon on
the Class A-3 Term Notes will increase by 0.50% if the Class A-3
Term Notes are not called upon their aggregate principal balance
declining to 10% of their initial principal balance.
o Interest on the Class A-1 and Class A-2 Term Notes is payable
monthly starting with the initial distribution date and principal
on the Class A-1 and Class A-2 Term Notes is payable monthly
starting with the distribution date in the month following the end
of the applicable Revolving Period (beginning on [March 25, 2001]),
on an Actual/360 basis. Interest payable on the Class A-1 and Class
A-2 Term Notes is subject to an available funds cap and an overall
cap of [ ]%; provided, however, investors will be entitled to an
interest carry-forward amount should LIBOR plus the margin exceed
the available funds cap for such periods.
o Interest on the Class A-3 Term Notes is payable monthly starting
with the initial Distribution Date and principal on the Class A-3
Term Notes is payable monthly starting with the distribution date in
the month following the end of the applicable Revolving Period
(beginning on [July 25, 2000]), on a 30/360 basis.
o The optional call on the Class A-1 and Class A-2 Term Notes is set
at 10% of the initial respective Term Note principal balance. The
optional call on the Class A-3 Term Notes is set at 10% of the
initial Class A-3 Term Note principal balance.
o The pricing prepayment speed on the HELOCs is 35% CPR with a draw
rate of 10% CPR, for a net 25% CPR; the HELs are modeled at a
prepayment speed of 5% CPR ramping to 25% CPR by month 12 solely for
pricing purposes.
-----------------------------------------------------------------------
(1) The Notes will be priced using a prepayment speed of (i) in the
case of the HELOCs, a Gross CPR of 35% less a constant draw rate of
10%, and (ii) in the case of the HELs, such collateral is modeled
with a 5% CPR ramping to 25% by month 12.
3
<PAGE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
4
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
SUMMARY
Issuer....................The GMACM Home Equity Loan Trust 2000-HE1, a
Delaware business trust, will be formed pursuant
to a trust agreement. The assets of the issuer
will consist of:
o the home equity revolving credit line loans
("HELOCs") and home equity loans ("HELs")
transferred to the issuer on the closing date;
o additional draws under the home equity revolving
credit line loans during the period from the
closing date to but excluding the beginning of
the rapid amortization period, as described in
this prospectus supplement;
o mortgage loans sold to the issuer after the
closing date; and
o certain related assets.
Depositor.................Residential Asset Mortgage Products, Inc.
Seller and Servicer.......GMAC Mortgage Corporation, a Pennsylvania corporation.
Owner Trustee.............Wilmington Trust Company.
Indenture Trustee.........Norwest Bank Minnesota, National Association.
Cut-Off Date..............February 1, 2000.
Closing Date..............On or about February [28], 2000.
Payment Date..............The 25th day of each month (or, if that day is
not a Business Day, the next Business Day), beginning
in March 2000.
Book Entry................The notes will initially be issued in book-entry
form.
Pre-Funding Account.......On the closing date, approximately $[74,144,747]
will be deposited into an account designated the
"Pre-Funding Account". Approximately $[64,077,816]
will be allocated to purchasing HELOCs and
approximately $[10,066,932] will be allocated to
purchasing HELs. This amount will come from the
proceeds of the sale of the Term Notes. During
the Pre-Funding Period, funds on deposit in the
Pre-Funding Account will be used by the issuer to
buy mortgage loans from the seller from time to
time. The Pre-Funding Period will be the period
from the closing date to the earliest of:
o the date on which the amount on deposit in the
Pre-Funding Account is less than $100,000;
o [May 31, 2000]; or
o the occurrence of a managed amortization period or
a rapid amortization event.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
5
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
Capitalized Interest
Account...................On the Closing Date, if required by MBIA Insurance
Corporation, part of the proceeds of the sale of
the Term Notes will be deposited into an account
designated the "Capitalized Interest Account",
which will be held by the indenture trustee. Amounts
on deposit in the Capitalized Interest Account will be
withdrawn on each payment date during the Pre-Funding
Period to cover any shortfall in interest payments on
the notes due to the pre-funding feature during the
Pre-Funding Period. Any amounts remaining in the
Capitalized Interest Account at the end of the
Pre-Funding Period will be paid to the seller.
Funding Account...........An account designated the "Funding Account" will
be set up with the indenture trustee on the
Closing Date. On each payment date during the
revolving period for each class of Term Notes, the
indenture trustee will deposit principal and
excess spread collections for the related
collection period into the funding account, and
will apply them first to buy additional balances
arising under home equity revolving credit line
loans with respect to the Class A-1 and Class A-2
Term Notes in the trust and thereafter to buy more
mortgage loans, to the extent they are available.
If not all principal collections in the Funding
Account have been applied to buy additional
balances and mortgage loans at the end of the
revolving period for the Term Notes, the amount
left in the Funding Account will be paid to
respective noteholders as a payment of principal.
During the revolving period, we expect that
mortgage loans bought with amounts in the Funding
Account will primarily be home equity revolving
credit line loans.
Interest Payments.........Interest payments on each class of the Term
Notes will be made monthly on each payment date,
beginning in March 2000, at the note rates described
below for the related interest period, subject to the
limitations set forth below, which may result in
interest shortfalls, as described below.
The note rate for the Class A-1 Term Notes and each
interest period will be a floating rate equal to the
least of:
o LIBOR plus ____% per annum (or, on any payment date
on which the aggregate Class A-1 Term Note balance
is less than 10% of the initial aggregate Class A-1
Term Note balance, LIBOR plus ____% per annum);
o the applicable Net Loan Rate; and
o [ ]% per annum.
The note rate for the Class A-2 Term Notes and
each interest period will be a floating rate equal
to the least of:
o LIBOR plus ____% per annum (or, on any payment
date on which the aggregate Class A-2 Term Note
balance is less than 10% of the initial
aggregate Class A-2 Term Note balance, LIBOR
plus ____% per annum);
o the applicable Net Loan Rate; and
o [ ]% per annum.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
6
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
However, on any payment date for which the Class A-1
or Class A-2 Term Note rate has been determined by the
applicable Net Loan Rate, the interest shortfall will
be determined. Interest shortfalls and interest on the
shortfalls at the Class A-1 and Class A-2 Term Note
rate (as adjusted from time to time) will be paid on
later payment dates, to the extent funds are available
for that purpose. Interest shortfalls will not be
covered by the financial guaranty insurance policy and
may remain unpaid on the final payment date for the
Class A-1 and Class A-2 Term Notes. Interest on the
Class A-1 and Class A-2 Term Notes for each payment
date will accrue from the preceding payment date (or,
in the case of the first payment date, from the
Closing Date) through the day before that payment
date, on the basis of the actual number of days in
that interest period and a 360-day year.
o The note rate for the Class A-3 Term Notes and each
interest period will be a fixed rate equal to ____%
per annum.
Interest on the Class A-3 Term Notes for each payment
date will accrue from the first day of the preceding
calendar month through the last day of the preceding
calendar month, on the basis of a 360-day year
consisting of twelve 30-day months.
All interest payments on the Notes for any payment
date will be allocated to the Term Notes and the
Variable Funding Notes pro rata based on their
respective interest accruals. The interest rate on the
Variable Funding Notes will not significantly exceed
the Note Rates for the Class A-1 and Class A-2 Term
Notes for the related interest period.
Principal Payments........With respect to any payment date during the related
revolving period, no principal will be paid on any
class of Term Notes, and all principal and excess
spread collections will be deposited into the
Funding Account and used to purchase additional
balances relating to home equity revolving credit line
loans and mortgage loans. On each payment date during
the Managed Amortization Period (with respect to the
Class A-1 and Class A-2 Term Notes), the aggregate
amount payable as principal on the Class A-1 and Class
A-2 Term Notes will be equal to the related Net
Principal Collections for that payment date. On each
payment date during the Rapid Amortization Period for
each class of Notes, the aggregate amount payable as
principal on the Notes will be equal to the Principal
Collections for the related Loan Group for the related
Collection Period. In addition, on each payment date
after the end of the Revolving Period for each class
of Notes, to the extent of funds available for that
purpose, holders of the Term Notes will be entitled to
receive certain additional amounts in reduction of the
related Note Balance, generally equal to liquidation
loss amounts.
All principal payments due and payable on each class
of Floating Rate Term Notes and the Variable Funding
Notes for each Payment Date will be allocated among
those classes of Notes based on the Principal
Collections in the related Loan Group until the
related Note Balance or Variable Funding Balance
thereof is paid in full. In no event will principal
payments on any class of Notes on a Payment Date
exceed the related Note Balance or Variable Funding
Balance, as applicable, on that Payment Date. On the
Final Payment Date, principal will be due and payable
on the Notes in an amount equal to the related Note
Balance or Variable Funding Balance, as applicable,
remaining outstanding on that Payment Date.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
7
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
The Revolving Period with respect to the Class A-1 and
Class A-2 Term Notes will be the period beginning on
the Closing Date and ending on the earlier of
[February 28, 2001] and the occurrence of a managed
amortization event or a rapid amortization event. The
Managed Amortization Period with respect to the Class
A-1 and Class A-2 Term Notes will be the period
beginning on the first payment date following the end
of the related Revolving Period and ending on the
earlier of [February 28, 2005] and the occurrence of
certain rapid amortization events. The Rapid
Amortization Period with respect to the Class A-1 and
Class A-2 Term Notes will be the period beginning on
the earlier of the first payment date following the
end of the Managed Amortization Period and the
occurrence of certain rapid amortization events, and
ending upon the termination by the issuer. A Managed
Amortization Event will be deemed to occur on any date
on which the amount on deposit in the Funding Account
equals or exceeds $10,000,000.
The Revolving Period with respect to the Class A-3
Term Notes will be the period beginning on the Closing
Date and ending on the earlier of [June 30, 2000] and
the occurrence of a rapid amortization event. The
Rapid Amortization Period with respect to the Class
A-3 Term Notes will be the period beginning on the
earlier of the first payment date following the end of
the related Revolving Period and the occurrence of a
rapid amortization event, and ending upon the
termination by the issuer. The Class A-3 Term Notes
will not have a Managed Amortization Period.
Allocation of Payments
on the Mortgage Loans.....All collections on the mortgage loans will generally
be allocated by the servicer according to the terms
of the related home equity credit line agreements
or mortgage notes between amounts collected in
respect of interest and principal.
o With respect to each payment date, the portion of
interest collections for each loan group available
to be applied towards the payment of interest on
the related class of Notes will equal interest
collections for such loan group for such payment
date.
o The portion of principal collections for each loan
group available to be applied towards the payment
of principal on the related class of notes will
equal:
o at any time during the Revolving
Periods, zero;
o at any time during the Managed Amortization
Period, net principal collections on the
home equity revolving credit line loans for
such payment date; and
o at any time during the Rapid
Amortization Periods, principal
collections for such loan group for such
payment date.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
8
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
During the revolving period for each class of Term
Notes, principal and excess spread collections for the
related loan group will be applied by the trust to buy
mortgage loans for such loan group and, during the
period from the Closing Date to the beginning of the
Rapid Amortization Period for the Class A-1 and Class
A-2 Term Notes, principal collections will also be
applied to purchase additional balances for the
related loan group, to the extent they are available.
Principal collections will no longer be applied to
acquire mortgage loans after the end of the Revolving
Periods and will no longer be applied to buy
additional balances during the Rapid Amortization
Period for the Class A-1 and Class A-2 Term Notes.
Credit Enhancement........The credit enhancement provided for the benefit
of the noteholders will consist of:
o Excess Spread;
o overcollateralization; and
o the financial guaranty insurance policy.
The Enhancer..............MBIA Insurance Corporation.
Optional Redemption.......With respect to each of the three loan groups, a
principal payment may be made by the Servicer to
redeem the related class of Term Notes upon the
exercise by the servicer of its option to purchase
the mortgage loans in such loan group and the
related assets of the trust after the aggregate
balance of the related class of Term Notes is
reduced to an amount less than or equal to 10% of
their initial balance.
Final Payment of
Principal on the
Term Notes................The Notes will be payable in full on the payment
date in [February 2030] to the extent of the
outstanding note balance on that date, if any. In
addition, the issuer will pay each class of the
Term Notes in full upon the exercise by the
Servicer of its option to purchase all of the mortgage
loans in the related loan group and all property
acquired relating to such mortgage loans.
ERISA Considerations......The Term Notes may be eligible for purchase by
certain ERISA Plans.
Certain Federal Income
Tax Considerations........For federal income tax purposes, the Term Notes will
be characterized as indebtedness of the issuer.
Legal Investment..........The Term Notes will not constitute
"mortgage related securities" for purposes of the
Secondary Mortgage Market Enhancement Act of 1984, as
amended.
Ratings...................It is a condition to the issuance of the Term Notes
that they be rated at least "Aaa" by Moody's Investors
Service, Inc. and "AAA" by Standard & Poor's, a
division of The McGraw-Hill Companies, Inc.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
9
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE
DESCRIPTION OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- ------------------------------------------------------------------------------
Initial HEL Characteristics
___________________________
Set forth below is a description of certain characteristics of the Initial
HELs as of the Cut-Off Date. Unless otherwise specified, all principal balances
of the Initial HELs are as of the Cut-Off Date and are rounded to the nearest
dollar. All percentages are approximate percentages by aggregate principal
balance as of the Cut-Off Date (except as indicated otherwise).
Property Type
<TABLE>
Percent of
Initial HELs
Number of Cut-Off by Cut-Off
Property Type Initial HELs Date Balance Date Balance
_____________ ____________ ____________ ____________
<S> <C> <C> <C> <C>
Condo 101 $2,146,180.03 5.37%
Duplex - Fourplex 6 110,287.89 0.28%
Manufactured Housing 5 73,552.49 0.18%
PUD 60 1,976,543.33 4.95%
Single Family 1,354 35,402,053.23 88.65%
Two Family 10 224,451.53 0.56%
_____ _____________ _______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
Occupancy Types
<TABLE>
Percent of
Initial HELs
Occupancy Number of Cut-Off by Cut-Off
(as indicated by Borrower) Initial HELs Date Balance Date Balance
__________________________ ____________ ____________ ____________
<S> <C> <C> <C> <C>
Owner Occupied 1,528 $39,803,466.79 99.68%
Non-Owner Occupied 8 129,601.71 0.32%
_____ ______________ _______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
Principal Balances
<TABLE>
Percent of
Initial HELs by
Number of Cut-Off Date Cut-Off Date
Range of Principal Balances ($) Initial HELs Balance Balance
_______________________________ ____________ ___________ ______________
<S> <C> <C> <C> <C>
$0.00 to $ 25,000.00 974 $16,035,612.13 40.16%
$25,000.01 to $ 50,000.00 453 16,318,028.77 40.86%
$50,000.01 to $ 75,000.00 86 5,200,076.42 13.02%
$75,000.01 to $100,000.00 16 1,437,474.39 3.60%
$100,000.01 to $125,000.00 3 333,900.00 0.84%
$125,000.01 to $150,000.00 3 448,493.59 1.12%
$150,000.01 to $175,000.00 1 159,483.20 0.40%
_____ ______________ ______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
The average Principal Balance as of the Cut-Off Date is approximately
$25,998.09.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
10
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- ------------------------------------------------------------------------------
Geographical Distributions
<TABLE>
Percent of
Number of Cut-Off Initial HELs by
Initial HELs Date Balance Cut-Off Date
Location Balance
________ _____________ ____________ _______________
<S> <C> <C> <C> <C>
AK 2 $176,858.87 0.44%
AL 15 366,163.37 0.92%
AR 3 63,734.03 0.16%
AZ 42 835,103.12 2.09%
CA 529 15,927,610.04 39.89%
CO 26 658,323.85 1.65%
CT 28 928,457.54 2.33%
DE 5 91,537.07 0.23%
FL 71 1,654,290.22 4.14%
GA 43 1,307,270.27 3.27%
HI 4 134,398.21 0.34%
IA 16 195,903.09 0.49%
ID 11 248,775.19 0.62%
IL 39 941,239.43 2.36%
IN 25 538,305.16 1.35%
KS 8 200,655.30 0.50%
KY 5 131,371.00 0.33%
LA 8 163,403.58 0.41%
MA 46 1,114,780.31 2.79%
MD 23 544,023.26 1.36%
ME 10 304,797.68 0.76%
MI 68 1,474,161.34 3.69%
MN 17 400,454.43 1.00%
MO 31 659,895.61 1.65%
MS 10 264,838.70 0.66%
MT 2 82,459.71 0.21%
NC 27 697,442.04 1.75%
NH 9 162,011.32 0.41%
NJ 31 747,787.52 1.87%
NM 12 249,445.14 0.62%
NV 11 218,276.88 0.55%
NY 49 1,371,559.06 3.43%
OH 27 704,320.94 1.76%
OK 17 387,337.02 0.97%
OR 18 418,287.99 1.05%
PA 56 1,161,198.43 2.91%
RI 4 98,707.72 0.25%
SC 4 103,824.57 0.26%
TN 16 379,101.30 0.95%
TX 62 1,423,570.15 3.56%
UT 9 140,708.68 0.35%
VA 25 620,996.22 1.56%
VT 3 48,896.02 0.12%
WA 38 930,381.20 2.33%
WI 18 404,575.29 1.01%
WV 11 220,196.77 0.55%
WY 2 35,633.86 0.09%
____ ____________ _______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
11
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- ------------------------------------------------------------------------------
Combined Loan-to-Value Ratios
<TABLE>
Percent of
Initial HELs
Range of Combined Number of Cut-Off Date by Cut-Off
Loan-to-Value Ratios (%) Initial HELs Balance Date Balance
________________________ ____________ _____________ _____________
<S> <C> <C> <C>
0.001% to 50.000% 101 $2,311,752.32 5.79%
50.001% to 60.000% 81 1,916,983.05 4.80%
60.001% to 70.000% 146 3,659,078.83 9.16%
70.001% to 80.000% 494 12,822,238.16 32.11%
80.001% to 90.000% 597 15,391,664.74 38.54%
90.001% to 100.000% 117 3,831,351.40 9.59%
___ _____________ ______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
The minimum and maximum Combined Loan-to-Value Ratios of the Initial HELs as of
the Cut-Off Date are approximately 6.00% and 100.00%, respectively, and the
weighted average Combined Loan-to-Value Ratio of the Initial HELs as of the
Cut-Off Date is approximately 78.40%.
Junior Ratios(1)(2)
<TABLE>
Percent of
Initial HELs by
Number of Cut-Off Date Cut-Off Date
Range of Junior Ratios (%) Initial HELs Balance Balance
__________________________ ____________ ___________ _______________
<S> <C> <C> <C>
0.00% to 9.99% 239 $3,812,782.27 9.55%
10.00% to 19.99% 721 16,787,558.15 42.04%
20.00% to 29.99% 346 10,907,098.51 27.31%
30.00% to 39.99% 137 4,744,404.56 11.88%
40.00% to 49.99% 55 2,374,814.61 5.95%
50.00% to 59.99% 23 791,449.20 1.98%
60.00% to 69.99% 5 198,492.60 0.50%
70.00% to 79.99% 7 196,773.19 0.49%
80.00% to 89.99% 2 85,195.41 0.21%
90.00% to 99.99% 1 34,500.00 0.09%
____ _____________ ______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
(1) The Junior Ratio of a HEL is the ratio (expressed as a percentage) of the
outstanding balance of such HEL to the sum of such outstanding balance and the
outstanding balance of any senior mortgage computed as of the date such HEL is
underwritten.
(2) The weighted average Junior Ratio of the Initial HELs as of the Cut-Off
Date is 22.11%.
Loan Rates
<TABLE>
Percent of
Initial HELs by
Number of Cut-Off Date Cut-Off Date
Range of Junior Ratios (%) Initial HELs Balance Balance
__________________________ ____________ ___________ _______________
<S> <C> <C> <C>
0.001% to 8.000% 30 $335,094.26 0.84%
8.001% to 9.000% 18 569,409.50 1.43%
9.001% to 10.000% 605 16,270,524.75 40.74%
10.001% to 11.000% 536 13,983,747.56 35.02%
11.001% to 12.000% 264 6,596,577.75 16.52%
12.001% to 13.000% 81 2,119,921.04 5.31%
13.001% to 14.000% 1 27,800.00 0.07%
16.001% to 17.000% 1 29,993.64 0.08%
______ _____________ _______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
The weighted average Loan Rate as of the Cut-Off Date is approximately 10.41%.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
12
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- ------------------------------------------------------------------------------
Months Remaining to Scheduled Maturity
<TABLE>
Percent of
Initial HELs
Number of Cut-Off Date by Cut-Off Date
Range of Months Initial HELs Balance Balance
_______________ ____________ _____________ ______________
<S> <C> <C> <C>
0 to 60 169 $2,549,072.00 6.38%
61 to 120 405 8,571,768.72 21.47%
121 to 180 753 21,803,986.42 54.60%
181 to 240 188 6,220,002.76 15.58%
241 to 300 7 213,436.47 0.53%
301 + 14 574,802.13 1.44%
_____ _____________ ______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
The weighted average months remaining to scheduled maturity as of the Cut-Off
Date is approximately 162 months.
Lien Priority
<TABLE>
Percent of
Initial HELs
Number of Cut-Off Date by Cut-Off Date
Lien Position Initial HELs Balance Balance
_______________ ______________ _____________ ______________
<S> <C> <C> <C>
First 32 $1,063,235.31 2.66%
Second 1,504 38,869,833.19 97.34%
_____ _____________ ______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
Origination Year
<TABLE>
Percent of
Initial HELs
Number of Cut-Off Date by Cut-Off Date
Origination Year Initial HELs Balance Balance
________________ ______________ _____________ ______________
<S> <C> <C> <C>
1997 2 $ 37,867.16 0.09%
1999 1,403 35,907,815.07 89.92%
2000 131 3,987,386.27 9.99%
_____ ______________ ______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
Debt-to-Income Ratios
<TABLE>
Percent of
Initial HELs
Range of Debt-to-Income Number of Cut-Off Date by Cut-Off Date
Ratios (%) Initial HELs Balance Balance
________________ ______________ _____________ ______________
<S> <C> <C> <C>
0.00% 9.99% 6 $180,450.20 0.45%
10.00% 19.99% 47 1,140,738.56 2.86%
20.00% 29.99% 258 5,765,240.38 14.44%
30.00% 39.99% 488 12,424,866.26 31.11%
40.00% 49.99% 642 17,608,829.31 44.10%
50.00% 59.99% 86 2,490,557.96 6.24%
60.00% 69.99% 9 322,385.83 0.81%
_____ _____________ _______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
13
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT
- ------------------------------------------------------------------------------
Documentation Type
<TABLE>
Percent of
Initial HELs
Number of Cut-Off Date by Cut-Off Date
Documentation Initial HELs Balance Balance
________________ ______________ _____________ ______________
<S> <C> <C> <C>
Standard 980 $27,240,091.44 68.21%
No Income No Appraisal 350 7,705,140.22 19.30%
No Income Verification 90 2,471,670.73 6.19%
Family First Direct 93 1,883,810.91 4.72%
Super Express 14 308,783.15 0.77%
Select 5 223,748.82 0.56%
GM Expanded FAM 3 80,057.18 0.20%
Streamline 1 19,766.05 0.05%
_____ _____________ ______
Total 1,536 $39,933,068.50 100.00%
</TABLE>
The information set forth in the preceding sections is based upon
information provided by the Seller and tabulated by the Depositor. The Depositor
makes no representation as to the accuracy or completeness of such information.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
15
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
SENSITIVITY TABLES
<TABLE>
Class A-3 (to call)
- -------------------------------------------------------------------------------
PPC HELs 0% 50% 75% 100% 125% 150% 175%
- -------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 8.23 4.79 3.78 3.07 2.57 2.20 1.92
Modified Duration (years) 5.55 3.60 2.98 2.51 2.16 1.89 1.68
First Principal Payment 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last Principal Payment 12/25/12 6/25/10 9/25/08 2/25/07 12/25/05 1/25/05 5/25/04
Principal Lockout(months) 4 4 4 4 4 4 4
Principal Window (months) 150 120 99 80 66 55 47
Illustrative Yield @
Par (30/360) 8.02% 7.97% 7.94% 7.90% 7.87% 7.83% 7.80%
</TABLE>
<TABLE>
Class A-3 (to maturity)
- -------------------------------------------------------------------------------
PPC-HEIs 0% 50% 75% 100% 125% 150% 175%
- -------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 8.26 4.92 3.96 3.25 2.74 2.35 2.04
Modified Duration (years) 5.56 3.65 3.06 2.60 2.26 1.98 1.76
First Principal Payment 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00 7/25/00
Last Principal Payment 8/25/13 6/25/13 3/25/13 7/25/12 5/25/11 1/25/10 10/25/08
Principal Lockout(months) 4 4 4 4 4 4 4
Principal Window (months) 158 156 153 145 131 115 100
Illustrative Yield @ Par
(30/360) 8.02% 7.98% 7.95% 7.93% 7.90% 7.87% 7.83%
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
15
<PAGE>
- ------------------------------------------------------------------------------
GMACM Home Equity Loan Trust 2000-HE1
- ------------------------------------------------------------------------------
PERCENTAGE OF INITIAL CLASS A-3 TERM NOTE BALANCE (1)(2)(3)
<TABLE>
Payment Date Percentage of Balance
_________________________________________________
<S> <C> <C> <C> <C> <C> <C> <C>
PPC - HELs 0% 50% 75% 100% 125% 150% 175%
_________________________________________________
Initial................... 100 100 100 100 100 100 100
February 2001.............. 96 90 86 83 79 75 71
February 2002.............. 92 75 67 59 51 44 38
February 2003............. 88 62 51 42 34 26 20
February 2004.............. 83 51 39 30 22 16 11
February 2005.............. 77 42 30 21 14 9 5
February 2006.............. 71 34 22 14 9 5 3
February 2007.............. 64 27 16 10 5 3 1
February 2008.............. 57 21 12 6 3 1 *
February 2009.............. 49 16 8 4 2 * 0
February 2010.............. 40 11 5 2 1 0 0
February 2011.............. 30 7 3 1 * 0 0
February 2012.............. 19 4 1 * 0 0 0
February 2013.............. 6 1 * 0 0 0 0
February 2014............. 0 0 0 0 0 0 0
Weighted Average Life to
10% call (years).......... 8.23 4.79 3.78 3.07 2.57 2.20 1.92
Weighted Average Life to
maturity (years).......... 8.26 4.92 3.96 3.25 2.74 2.35 2.04
</TABLE>
(1) Assumes (i) except where indicated, that no optional termination is
exercised and (ii) in the case of the HELs, the percentage of the
pricing prepayment assumption disclosed above.
(2) All percentages are rounded to the nearest 1%.
(3) * less than 1% but greater than 0.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
16
