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[OBJECT OMITTED]
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
[GRAPHIC OMITTED] BEAR, STEARNS & CO. INC.
ATLANTA o BOSTON o CHICAGO ASSET-BACKED SECURITIES GROUP
DALLAS o LOS ANGELES o NEW YORK o SAN FRANCISCO 245 Park Avenue
FRANKFORT o GENEVA o HONG KONG New York, N.Y. 10167
LONDON o PARIS o TOKYO (212) 272-2000; (212) 272-7294 fax
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Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials (As of Wednesday, August 2, 2000)
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Fax to: Date: 8/2/00
Company: # Pages (incl. 28
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, and
although it may be based on data supplied to it by an issuer, the issuer has not
participated in its preparation and makes no 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. Any information herein
regarding the collateral or the securities supersedes any prior information
regarding the collateral or the securities and will be superseded by information
regarding the collateral and/or the securities contained in the Offering
Documents and any subsequent information regarding the collateral or the
securities. Offering Documents contain data that is current as of their
publication dates and after publication may no longer be complete or current and
any subsequent information regarding the collateral or the securities. 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.
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 employed thereby 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.
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Preliminary Term Sheet (Page 1 of 6)
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$135,605,000 (subject to a 5% variance)
Issuer: Home Loan Trust 2000-HL1
Depositor: Residential Asset Mortgage Products, Inc.
Seller: Residential Funding Corporation
Credit Enhancer: Ambac Assurance Corporation ("Ambac")
Underwriter: Bear, Stearns & Co. Inc.
Master Servicer: Residential Funding Corporation (the "Master
Servicer" or "RFC").
Initial Subservicer: GMAC Mortgage Corporation ("GMACMC"), an
affiliate of the Depositor and the Master
Servicer.
Indenture Trustee: The Chase Manhattan Bank
Owner Trustee: Wilmington Trust Company
Characteristics of the Notes:
Option I (a), (b), (c), (d)
--------
--------------------------------------------------------------------------------
Home Original Avg PrincipaPrincipaFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months)(months)Maturity (Moody's/S&P)
(years) Date
--------------------------------------------------------------------------------
Class I $40,830,000Floating 1.00 None 26 3/25/11 Aaa / AAA
A-I-1 (e)
Class I 23,012,000 Fixed 3.00 25 22 8/25/14 Aaa / AAA
A-I-2
Class I 20,634,000 Fixed 5.00 46 29 3/25/18 Aaa / AAA
A-I-3
Class I 10,499,000 Fixed 7.00 74 20 1/25/20 Aaa / AAA
A-I-4
Class I 25,282,000 Fixed 10.28 93 43 8/25/25 Aaa / AAA
A-I-5 (f)
Class II 15,348,000 Fixed 4.66 None 136 8/25/25 Aaa / AAA
A-II (f)
--------------------------------------------------------------------------------
Option II (a), (b), (c), (d)
---------
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Home Original Avg PrincipaPrincipaFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months)(months)Maturit(Moody's/S&P)
(years) Date
--------------------------------------------------------------------------------
Class I $120,257,00Fixed 4.54 None 136 8/25/25 Aaa / AAA
A-I (f)
Class II 15,348,000 Fixed 4.66 None 136 8/25/25 Aaa / AAA
A-II (f)
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Notes:
(a) Bond balances subject to a 5% variance.
(b) Pricing Speed: 15% CPR.
(c) Transaction priced to 10% clean-up call.
(d) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement"
herein.)
(e) The lesser of (i) One-Month LIBOR plus 0._ % per annum and (ii) 10%
per annum.
(f) The Note Rate will increase by 0.50% if the 10% clean-up call is not
exercised.
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Preliminary Term Sheet (Page 2 of 6)
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The Notes: Home Loan Trust 2000-HL1 will issue either (i)
under Option I, six classes of Home Loan Backed
Notes (the Class A-I-1, Class A-I-2, Class
A-I-3, Class A-I-4, Class A-I-5, and Class A-II
Notes) or (ii) under Option II, two classes of
Home Loan Backed Notes (the Class A-I Notes and
the Class A-II Notes) (the "Notes").
Offering: The Notes will be issued publicly from a shelf
registration.
The Assets of the Trust: The assets of the Trust will include two groups
of conventional, closed-end, fixed-rate home
loans (the "Home Loans"), the proceeds of which
were used primarily for debt consolidation
and/or home improvements. The Home Loans will
be secured by mortgages, deeds of trust or
other similar security instruments.
Substantially all of the Home Loans will have a
combined loan-to-value ratio in excess of 100%.
Cut-off Date: As of August 1, 2000.
Settlement Date: On or about August 25, 2000.
Payment Delay: With the exception of the Class A-I-1 Notes
(under Option I), the Notes will have a payment
delay of 24 days. With respect to the Class
A-I-1 Notes, 0 days.
Note Rate: Interest will accrue on all of the Notes other
than the Class A-I-1 Notes (the "Fixed Rate
Notes") at a fixed rate during the month prior
to the month of the related Payment Date on a
30/360-day basis. The coupon paid on certain
of the Fixed Rate Notes may be subject to a net
WAC cap.
With respect to any Payment Date, the Class A-I-1
Notes will be entitled to interest accrued from
and including the preceding Payment Date (or from
and including the Closing Date in the case of the
first Payment Date) to and including the day prior
to the then current Payment Date (the "Class A-I-1
Accrual Period") at the Class A-I-1 Note Rate on
the aggregate principal balance of the Class A-I-1
Notes on an actual/360-day basis.
The coupon on the Class A-I-1 Notes will be equal
to the lesser of (a) 1-month LIBOR + [_.__]% per
annum and (b) 10.00% per annum, payable monthly.
The Note Rate applicable to the Class A-I-5 Notes
(under Option I), the Class A-I Notes (under
Option II) and Class A-II Notes will increase by
0.50% after the Step-Up Date. The "Step-Up Date"
is the first Payment Date after which the current
Pool Principal Balance declines to 10% or less of
the original Pool Principal Balance of the Home
Loans.
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Preliminary Term Sheet (Page 3 of 6)
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Principal: Payments of principal will be distributed
concurrently to (a) the Class A-I Notes in the
aggregate and (b) the Class A-II Notes, in each
case allocated in proportion to the percentage
of the principal collections derived from the
related loan group for such payment date, until
the note balances of the Class A-I Notes in the
aggregate or the Class A-II Notes have been
reduced to zero. From then on, these amounts
will be distributed to the remaining class or
classes of Class A Notes until their note
balances have been reduced to zero.
Any payments of principal allocable to the Class
A-I Notes, under Option I, shall be paid to the
Class A-I-1 Notes, the Class A-I-2 Notes, the
Class A-I-3 Notes, the Class A-I-4 Notes, and the
Class A-I-5 Notes, in that order, in each case
until the outstanding note balance of each of
these notes has been reduced to zero.
Any payments of principal allocable to the Class
A-II Notes shall be paid to the Class A-II Notes
until the outstanding note balance has been
reduced to zero.
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Preliminary Term Sheet (Page 4 of 6)
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Priority of Payments: On each Payment Date, principal and interest
collections will be allocated from the payment
account in the following order of priority:
(1) To pay accrued interest due on the Notes;
(2) To pay as principal on the Notes, an amount equal to the principal
collection distribution amount for such
Payment Date;
(3) To pay as principal on the Notes, an amount equal to the liquidation
loss distribution amount for such Payment
Date;
(4) To pay the Credit Enhancer the premium for the
Policy and any payments in connection with the
limited reimbursement agreement, and any
previously unpaid premiums or payments with
interest;
(5) To reimburse the Credit Enhancer for certain prior draws made on the
Policy, with interest;
(6) To pay as additional principal on the Notes, an amount (if any)
necessary to bring the amount of
overcollateralization up to the required
overcollateralization amount for such
Payment Date;
(7) To pay the Credit Enhancer any other amounts owed under the insurance
agreement; and
(8) Any remaining amounts to the holders of the Certificates.
Credit Enhancement: Credit enhancement with respect to the Notes
will be provided by (1) excess spread, (2)
overcollateralization, and (3) the Ambac
Insurance Policy.
Excess Spread: The interest due on the Home Loans
is generally expected to be higher than the
interest due on the Notes and other fees and
expenses of the Trust, resulting in excess
interest collections ("Excess Spread"), which will
be available to fund distributions on the Notes,
commencing with the Distribution Date in October
2000. Such amount can vary over time based on the
prepayment and default experience of the Home
Loans. On each Payment Date, any excess spread
from the related collection period will be
available to cover losses and build
overcollateralization on such Payment Date.
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Preliminary Term Sheet (Page 5 of 6)
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Overcollateralization: The initial
overcollateralization amount will be equal to
[0.00]% of the Original Pool Principal Balance on
the Closing Date. Thereafter, excess spread will
be applied, to the extent available, to make
accelerated payments of principal to the
securities then entitled to receive payments of
principal; such application will cause the
aggregate principal balance of the Notes to
amortize more rapidly than the Home Loans,
resulting in a build up of overcollateralization.
Prior to the Stepdown Date, the "Required
Overcollateralization Amount" will be equal to
[2.00]% of the original Pool Principal Balance. On
or after the Stepdown Date, the Required
Overcollateralization Amount will be permitted,
subject to certain performance triggers being
satisfied, to decrease to [4.00]% of current Pool
Principal Balance of the Home Loans, subject to a
floor of 0.50% of the original Pool Principal
Balance.
Ambac Insurance Policy: Ambac Assurance
Corporation (the "Credit Enhancer") will
unconditionally and irrevocably guarantee: (a)
timely payment of interest, (b) the amount of any
losses not covered by excess spread or
overcollateralization, and (c) the payment of
principal on the Notes by no later than their
respective final scheduled maturity date. The
Insurance Policy is not revocable for any reason.
Stepdown Date: The Stepdown Date is the Payment Date occurring
on the later of:
(1) the Payment Date in September, 2003 (i.e., on the 37th Payment Date);
and
(2) the first Payment Date on which the current
Pool Principal Balance has been reduced to
an amount equal to 50% of the original Pool
Principal Balance.
Master Servicing Fee: With respect to each Home Loan
Group, the primary compensation to be paid to the
Master Servicer in respect of its master servicing
activities will be [0.08]% per annum, payable
monthly. The fees of the Trustees will be paid
from the Master Servicing Fee.
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Preliminary Term Sheet (Page 6 of 6)
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Subservicing Fee: With respect to each Home Loan Group, the
Trust is subject to certain fees, including a
weighted average Subservicing Fee, as of the
Cut-Off Date, of approximately [0.50]% per annum,
payable monthly.
Advancing: There is no required advancing of delinquent
principal or interest by the Master Servicer,
the Subservicer, the Trustees, the Credit
Enhancer or any other entity.
Optional Redemption: The Master Servicer may, at its option, effect
an early redemption or termination of the Notes
on the first Payment Date after the Payment
Date on which the current Pool Principal
Balance declines to less than 10% of the
original Pool Principal Balance of the Home
Loans (the "Step-Up Date").
Form of Registration: Book-Entry form, same day funds through DTC,
Euroclear.
Tax Status: For federal income tax purposes, the Notes will
be characterized as indebtedness of the Issuer.
ERISA Eligibility: The Notes may be eligible for
purchase by employee benefit plans that are
subject to ERISA.
SMMEA Treatment: The Notes will not constitute "mortgage
related securities" for purposes of SMMEA.
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 1 of 18)
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
Home Loan Group I (as of the Statistical Cut-off Date)
Total Number of Loans: 2,981
Initial Principal Balance: $120,257,111
Average Loan Balance: $40,341
WA Home Loan Rate: 13.554%
Range of Home Loan Rates: (10.000% -
17.540%)
WA Remaining Term (months): 227
Range of Remaining Terms: (34 - 293)
WA Original Term (months): 250
Range of Original Terms: (60 - 301)
Credit Score:
WA 682
< 640 2.68%
640 - 679 46.73%
680 - 719 40.55%
>= 720 10.04%
Debt-to-Income Ratio:
WA 39.45%
>45% 19.11%
Combined LTV:
WA 117.96%
> 100% 96.33%
Geographic Concentration: CA: 28.95%
(as a Percentage of Loan Type) MD: 6.45%
(States not listed account for NY: 5.16%
less than 5% of the aggregate
principal balance of the category)
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 2 of 18)
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
Loan Group I
Home Loan Rates
Range of Number of Statistical Percentage
Cut-off Date of
Loan Rates (%) Home Loans Principal Home Loan
Balance Pool
-----------------------------------------------------------
9.501 to 10.000 1 $31,498 0.03%
10.001 to 10.500 3 71,903 0.06%
10.501 to 11.000 8 297,602 0.25%
11.001 to 11.500 52 2,105,991 1.75%
11.501 to 12.000 294 12,422,821 10.33%
12.001 to 12.500 268 11,572,509 9.62%
12.501 to 13.000 585 25,529,342 21.23%
13.001 to 13.500 283 11,611,589 9.66%
13.501 to 14.000 609 24,200,526 20.12%
14.001 to 14.500 267 10,574,912 8.79%
14.501 to 15.000 276 10,657,917 8.86%
15.001 to 15.500 102 3,636,220 3.02%
15.501 to 16.000 171 5,656,278 4.70%
16.001 to 16.500 38 1,216,931 1.01%
16.501 to 17.000 20 554,354 0.46%
17.001 to 17.500 3 96,839 0.08%
17.501 to 18.000 1 19,877 0.02%
-----------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 3 of 18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group I
Original Home Loan Principal Balances
Range of Number of Statistical Percentage
Original Cut-off Date of
Home Loan Home Loans Principal Home Loan
Amounts Balance Pool
----------------- --------------------------------------
Up 430 $8,477,509 7.05%
to $25,000.00
$25,000.01 to 1,865 69,048,246 57.42%
$50,000.00
$50,000.01 to 617 36,894,569 30.68%
$75,000.00
$75,000.01 to 69 5,836,788 4.85%
$100,000.00
--------------------------------------
Total 2,981 $120,257,111 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Percentage
Cut-off Date of
Home Loan Home Loans Principal Home Loan
Amounts Balance Pool
----------------- --------------------------------------
Up 489 $9,781,101 8.13%
to $25,000.00
$25,000.01 to 1,856 70,072,233 58.27%
$50,000.00
$50,000.01 to 573 34,989,997 29.10%
$75,000.00
$75,000.01 to 63 5,413,779 4.50%
$100,000.00
--------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 4 of 18)
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group I
Combined Loan-to-Value Ratios
Range of Number of Statistical Percentage
Combined Home Cut-off Date of
Loan-to-Value Home Loans Principal Home Loan
Ratios (%) Balance Pool
----------------- --------------------------------------
50.01 to 60.00 2 $45,354 0.04%
60.01 to 70.00 4 111,814 0.09%
75.01 to 80.00 11 341,913 0.28%
80.01 to 85.00 5 182,928 0.15%
85.01 to 90.00 24 785,170 0.65%
90.01 to 95.00 19 676,980 0.56%
95.01 to 100.00 70 2,274,812 1.89%
100.01 to 105.00 162 5,790,873 4.82%
105.01 to 110.00 299 10,297,410 8.56%
110.01 to 115.00 396 15,009,668 12.48%
115.01 to 120.00 589 23,603,576 19.63%
120.01 to 125.00 1,365 59,627,165 49.58%
125.00 to 130.00 35 1,509,447 1.26%
--------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 5 of 18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group I
Months Remaining to Maturity
Months Remaining Number of Statistical Percentage
Cut-off Date of
to Maturity Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
0 to 96 91 $2,554,998 2.12%
97 to 108 97 2,821,455 2.35%
121 to 144 3 83,034 0.07%
145 to 156 380 13,741,211 11.43%
157 to 168 430 15,490,542 12.88%
169 to 180 19 626,401 0.52%
181 to 288 1,951 84,602,986 70.35%
289 to 300 10 336,483 0.28%
--------------------------------------
Total 2,981 $120,257,111 100.00%
Year of Origination
Number of Statistical Percentage
Cut-off Date of
Year of Home Loans Principal Home Loan
Origination Balance Pool
----------------- --------------------------------------
1996 2 $52,419 0.04%
1997 41 1,519,720 1.26%
1998 2,786 113,192,915 94.13%
1999 152 5,492,057 4.57%
--------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 6 of 18)
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group I
Geographic Distribution of Mortgaged
Properties
Number of Statistical Percentage
Cut-off Date of
State Home Loans Principal Home Loan
Balance Pool
-------------------------------------------------------
California 799 34,819,331 28.95%
Maryland 188 7,759,066 6.45%
New York 157 6,203,819 5.16%
Washington 116 5,350,367 4.45%
Pennsylvania 132 5,025,916 4.18%
Virginia 123 4,847,627 4.03%
Florida 115 4,221,363 3.51%
Nevada 99 4,155,764 3.46%
North Carolina 95 3,422,774 2.85%
Oregon 74 3,420,479 2.84%
Arizona 80 3,109,352 2.59%
Illinois 74 2,971,269 2.47%
Michigan 80 2,774,553 2.31%
Ohio 66 2,483,458 2.07%
Indiana 69 2,423,184 2.02%
Other (<2%) 714 27,268,788 22.68%
--------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 7 of 18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group I
Mortgaged Property Types
Number of Statistical Percentage
Cut-off Date of
Property Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
Single Family 2,883 $116,491,638 96.87%
Residence
Condominium 95 3,631,890 3.02%
Manufactured 2 77,061 0.06%
Housing
Townhouse 1 56,522 0.05%
--------------------------------------
Total 2,981 $120,257,111 100.00%
Loan Purpose
Number of Statistical Percentage
Cut-off Date of
Purpose Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
Debt 2,896 $117,301,038 97.54%
Consolidation
Cash Out 44 1,264,584 1.05%
Refinance
Rate/Term 26 1,130,448 0.94%
Refinance
Home Improvement 12 433,926 0.36%
Education 1 32,707 0.03%
Other 2 94,406 0.08%
--------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 8 of 18)
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group I
Lien Priority
Number of Statistical Percentage
Cut-off Date of
Lien Property Home Loans Principal Home Loan
Balance Pool
-----------------
First Lien 4 $216,784 0.18%
Second Lien 2,977 120,040,326 99.82%
--------------------------------------
Total 2,981 $120,257,111 100.00%
Debt-to-Income Ratio
Number of Statistical Percentage
Cut-off Date of
Debt-to-Income Home Loans Principal Home Loan
Ratio (%) Balance Pool
---------------------------------------------------------
10.01 to 15.00 2 $89,938 0.07%
15.01 to 20.00 16 538,044 0.45%
20.01 to 25.00 92 3,198,666 2.66%
25.01 to 30.00 280 10,741,590 8.93%
30.01 to 35.00 460 17,893,841 14.88%
35.01 to 40.00 746 28,809,622 23.96%
40.01 to 45.00 882 36,001,286 29.94%
45.01 to 50.00 499 22,753,018 18.92%
50.01 to 55.00 4 231,106 0.19%
--------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 9 of 18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group I
Credit Scores
Range of Number Statistical Percentage
Cut-off Date of
Credit Scores Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
620 to 639 108 $3,219,607 2.68%
640 to 659 639 22,803,358 18.96%
660 to 679 793 33,392,740 27.77%
680 to 699 780 33,470,241 27.83%
700 to 719 358 15,298,038 12.72%
720 to 739 187 7,519,590 6.25%
740 to 759 78 3,122,294 2.60%
760 to 779 33 1,160,000 0.96%
780 to 799 5 271,243 0.23%
--------------------------------------
Total 2,981 $120,257,111 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 10 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II (as of the Statistical Cut-off Date)
Total Number of Loans: 220
Initial Principal Balance: $15,348,486
Average Loan Balance: $69,766
WA Home Loan Rate: 13.122%
Range of Home Loan Rates: (10.500% -
16.500%)
WA Remaining Term (months): 247
Range of Remaining Terms: (60-286)
WA Original Term (months): 270
Range of Original Terms: (84 - 300)
Credit Score:
WA 691
< 640 0.73%
640 - 679 28.09%
680 - 719 57.91%
>= 720 13.27%
Debt-to-Income Ratio:
WA 40.75%
>45% 23.47%
Combined LTV:
WA 116.13%
> 100% 95.51%
Geographic Concentration: CA: 62.40%
(as a Percentage of Loan Type) MD: 6.80%
(States not listed account for
less than 5% of the aggregate
principal balance of the category)
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 11 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
Loan Group II
Home Loan Rates
Range of Number of Statistical Percentage
Cut-off Date of
Loan Rates (%) Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
10.001 to 10.500 1 $78,826 0.51%
11.001 to 11.500 7 521,943 3.40%
11.501 to 12.000 32 2,136,950 13.92%
12.001 to 12.500 29 2,100,721 13.69%
12.501 to 13.000 55 4,156,196 27.08%
13.001 to 13.500 26 1,817,710 11.84%
13.501 to 14.000 36 2,312,857 15.07%
14.001 to 14.500 18 1,223,942 7.97%
14.501 to 15.000 8 525,317 3.42%
15.001 to 15.500 2 193,687 1.26%
15.501 to 16.000 5 235,851 1.54%
16.001 to 16.500 1 44,484 0.29%
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 12 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II
Original Home Loan Principal Balances
Range of Number of Statistical Percentage
Original Cut-off Date of
Home Loan Home Loans Principal Home Loan
Amounts Balance Pool
----------------- --------------------------------------
Up 1 $18,441 0.12%
to $25,000.00
$25,000.01 to 38 1,622,395 10.57%
$50,000.00
$50,000.01 to 111 7,357,962 47.94%
$75,000.00
$75,000.01 to 70 6,349,687 41.37%
$100,000.00
--------------------------------------
Total 220 $15,348,486 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Percentage
Cut-off Date of
Home Loan Home Loans Principal Home Loan
Amounts Balance Pool
----------------- --------------------------------------
Up 1 $18,441 0.12%
to $25,000.00
$25,000.01 to 41 1,766,595 11.51%
$50,000.00
$50,000.01 to 111 7,429,389 48.40%
$75,000.00
$75,000.01 to 67 6,134,061 39.97%
$100,000.00
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 13 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II
Combined Loan-to-Value Ratios
Range of Number of Statistical Percentage
Combined Home Cut-off Date of
Loan-to-Value Home Loans Principal Home Loan
Ratios (%) Balance Pool
----------------- --------------------------------------
90.01 to 95.00 5 $259,702 1.69%
95.01 to 100.00 6 428,798 2.79%
100.01 to 105.00 16 911,361 5.94%
105.01 to 110.00 24 1,498,242 9.76%
110.01 to 115.00 51 3,506,794 22.85%
115.01 to 120.00 49 3,487,329 22.72%
120.01 to 125.00 68 5,187,244 33.80%
125.00 to 130.00 1 69,015 0.45%
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 14 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II
Months Remaining to Maturity
Months Remaining Number of Statistical Percentage
Cut-off Date of
to Maturity Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
0 to 96 4 $257,716 1.68%
97 to 108 5 259,493 1.69%
145 to 156 12 747,235 4.87%
157 to 168 20 1,034,529 6.74%
181 to 288 179 13,049,512 85.02%
--------------------------------------
Total 220 $15,348,486 100.00%
Year of Origination
Number of Statistical Percentage
Cut-off Date of
Year of Home Loans Principal Home Loan
Origination Balance Pool
----------------- --------------------------------------
1997 2 $117,029 0.76%
1998 211 14,856,778 96.80%
1999 7 374,679 2.44%
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 15 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II
Geographic Distribution of Mortgaged
Properties
Number of Statistical Percentage
Cut-off Date of
State Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
California 135 $9,576,921 62.40%
Maryland 16 1,043,285 6.80%
Virginia 9 662,184 4.31%
Washington 7 573,351 3.74%
Connecticut 6 421,119 2.74%
Arizona 6 397,010 2.59%
Florida 5 319,502 2.08%
Other (<2%) 36 2,355,114 15.34%
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 16 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II
Mortgaged Property Types
Number of Statistical Percentage
Cut-off Date of
Property Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
Single Family 217 $15,122,265 98.53%
Residence
Condominium 2 149,159 0.97%
PUD 1 77,062 0.50%
--------------------------------------
Total 220 $15,348,486 100.00%
Loan Purpose
Number of Statistical Percentage
Cut-off Date of
Purpose Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
Debt 213 $14,800,842 96.43%
Consolidation
Home Improvement 3 236,593 1.54%
Rate/Term 2 162,632 1.06%
Refinance
Purchase Money 2 148,419 0.97%
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 17 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II
Lien Priority
Number of Statistical Percentage
Cut-off Date of
Lien Property Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
Second Lien 220 $15,348,486 100.00%
--------------------------------------
Total 220 $15,348,486 100.00%
Debt-to-Income Ratio
Number of Statistical Percentage
Cut-off Date of
Debt-to-Income Home Loans Principal Home Loan
Ratio (%) Balance Pool
---------------------------------------------------------
15.01 to 20.00 1 $56,862 0.37%
20.01 to 25.00 4 291,716 1.90%
25.01 to 30.00 10 625,115 4.07%
30.01 to 35.00 36 2,257,709 14.71%
35.01 to 40.00 46 3,108,909 20.26%
40.01 to 45.00 75 5,406,760 35.23%
45.01 to 50.00 46 3,468,284 22.60%
50.01 to 55.00 2 133,128 0.87%
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Collateral (Page 18 of
18)
------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
------------------------------------------------------------------------------
Loan Group II
Credit Scores
Range of Number Statistical Percentage
Cut-off Date of
Credit Scores Home Loans Principal Home Loan
Balance Pool
----------------- --------------------------------------
620 to 639 2 $111,775 0.73%
640 to 659 16 798,462 5.20%
660 to 679 56 3,513,537 22.89%
680 to 699 85 6,500,749 42.35%
700 to 719 32 2,387,548 15.56%
720 to 739 22 1,609,913 10.49%
740 to 759 3 192,497 1.25%
760 to 779 3 153,644 1.00%
780 to 799 1 80,361 0.52%
--------------------------------------
Total 220 $15,348,486 100.00%
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Notes (Page 1 of 3)
------------------------------------------------------------------------------
Option I (a), (b), (c), (d)
--------
--------------------------------------------------------------------------------
Home Original Avg PrincipaPrincipaFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance **Coupon To Call (months)(months)Maturity(Moody's/S&P)
(years) Date
--------------------------------------------------------------------------------
Class I $40,830,000Floating 1.00 None 26 3/25/11 Aaa / AAA
A-I-1 (e)
Class I 23,012,000 Fixed 3.00 25 22 8/25/14 Aaa / AAA
A-I-2
Class I 20,634,000 Fixed 5.00 46 29 3/25/18 Aaa / AAA
A-I-3
Class I 10,499,000 Fixed 7.00 74 20 1/25/20 Aaa / AAA
A-I-4
Class I 25,282,000 Fixed 10.28 93 43 8/25/25 Aaa / AAA
A-I-5 (f)
Class II 15,348,000 Fixed 4.66 None 136 8/25/25 Aaa / AAA
A-II (f)
--------------------------------------------------------------------------------
Option II (a), (b), (c), (d)
---------
--------------------------------------------------------------------------------
Home Original Avg PrincipaPrincipaFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance **Coupon To Call (months)(months)Maturity(Moody's/S&P)
(years) Date
--------------------------------------------------------------------------------
Class I $120,257,00Fixed 4.54 None 136 8/25/25 Aaa / AAA
A-I (f)
Class II 15,348,000 Fixed 4.66 None 136 8/25/25 Aaa / AAA
A-II (f)
--------------------------------------------------------------------------------
Notes:
(a) Bond balances subject to a 5% variance.
(b) Pricing Speed: 15% CPR.
(c) Transaction priced to 10% clean-up call.
(d) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement"
herein.)
(e) The lesser of (i) One-Month LIBOR plus 0._ % per annum and (ii) 10%
per annum.
(f) The Note Rate will increase by 0.50% if the 10% clean-up call is not
exercised.
Option I
Class A-I-1 (to call/maturity)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
5.65 1.71 1.00 0.80 0.67
Modified Duration (years)
4.33 1.53 0.92 0.75 0.63
First Principal Payment 9/25/00 9/25/00 9/25/00 9/25/00 9/25/00
Last Principal Payment 10/25/105/25/04 10/25/025/25/02 1/25/02
Principal Lockout (months) 0 0 0 0 0
Principal Window (months) 122 45 26 21 17
Illustrative Yield @ Par
(30/360) 6.968% 6.967% 6.968% 6.971% 6.972%
-------------------------------------------------------------------------------
Class A-I-2 (to call/maturity)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
11.83 5.05 3.00 2.39 1.97
Modified Duration (years)
7.48 4.03 2.58 2.11 1.77
First Principal Payment 10/25/105/25/04 10/25/025/25/02 1/25/02
Last Principal Payment 1/25/14 2/25/07 7/25/04 10/25/033/25/03
Principal Lockout (months) 121 44 25 20 16
Principal Window (months) 40 34 22 18 15
Illustrative Yield @ Par
(30/360) 7.807% 7.748% 7.676% 7.631% 7.584%
-------------------------------------------------------------------------------
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Notes (Page 2 of 3)
------------------------------------------------------------------------------
Option I (cont'd)
Class A-I-3 (to call/maturity)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
15.54 8.04 5.00 4.02 3.32
Modified Duration (years)
8.61 5.72 3.97 3.31 2.81
First Principal Payment 1/25/14 2/25/07 7/25/04 10/25/033/25/03
Last Principal Payment 12/25/175/25/10 11/25/068/25/05 10/25/04
Principal Lockout (months) 160 77 46 37 30
Principal Window (months) 48 40 29 23 20
Illustrative Yield @ Par
(30/360) 8.042% 8.011% 7.970% 7.944% 7.915%
-------------------------------------------------------------------------------
Class A-I-4 (to call/maturity)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
18.14 10.80 7.00 5.69 4.73
Modified Duration (years)
9.15 6.93 5.14 4.39 3.78
First Principal Payment 12/25/175/25/10 11/25/068/25/05 10/25/04
Last Principal Payment 10/25/196/25/12 6/25/08 1/25/07 12/25/05
Principal Lockout (months) 207 116 74 59 49
Principal Window (months) 23 26 20 18 15
Illustrative Yield @ Par
(30/360) 8.251% 8.232% 8.205% 8.186% 8.167%
-------------------------------------------------------------------------------
Class A-I-5 (to call)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
20.99 14.80 10.28 8.49 7.13
Modified Duration (years)
9.58 8.19 6.64 5.85 5.17
First Principal Payment 10/25/196/25/12 6/25/08 1/25/07 12/25/05
Last Principal Payment 4/25/22 10/25/1612/25/111/25/10 7/25/08
Principal Lockout (months) 229 141 93 76 63
Principal Window (months) 31 53 43 37 32
Illustrative Yield @ Par
(30/360) 8.428% 8.418% 8.403% 8.391% 8.379%
-------------------------------------------------------------------------------
Class A-I-5 (to maturity)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
21.29 16.02 11.63 9.74 8.26
Modified Duration (years)
9.63 8.46 7.07 6.32 5.65
First Principal Payment 10/25/196/25/12 6/25/08 1/25/07 12/25/05
Last Principal Payment 9/25/23 4/25/23 5/25/21 2/25/19 1/25/17
Principal Lockout (months) 229 141 93 76 63
Principal Window (months) 48 131 156 146 134
Illustrative Yield @ Par
(30/360) 8.431% 8.437% 8.438% 8.436% 8.432%
-------------------------------------------------------------------------------
<PAGE>
Residential Asset Mortgage Products, Inc.
Home Loan Trust 2000-HL1
Computational Materials: Information Relating to the Notes (Page 3 of 3)
------------------------------------------------------------------------------
Option II
Class A-I (to call)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
12.85 6.98 4.54 3.70 3.09
Modified Duration (years)
7.16 4.62 3.36 2.86 2.47
First Principal Payment 9/25/00 9/25/00 9/25/00 9/25/00 9/25/00
Last Principal Payment 4/25/22 10/25/1612/25/111/25/10 7/25/08
Principal Lockout (months) 0 0 0 0 0
Principal Window (months) 260 194 136 113 95
Illustrative Yield @ Par
(30/360) 8.132% 8.091% 8.047% 8.019% 7.989%
-------------------------------------------------------------------------------
Class A-I (to maturity)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
12.91 7.24 4.83 3.97 3.32
Modified Duration (years)
7.17 4.69 3.45 2.96 2.58
First Principal Payment 9/25/00 9/25/00 9/25/00 9/25/00 9/25/00
Last Principal Payment 9/25/23 4/25/23 5/25/21 2/25/19 1/25/17
Principal Lockout (months) 0 0 0 0 0
Principal Window (months) 277 272 249 222 197
Illustrative Yield @ Par
(30/360) 8.133% 8.098% 8.065% 8.043% 8.019%
-------------------------------------------------------------------------------
Class A-II (to call)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
14.22 7.35 4.66 3.77 3.13
Modified Duration (years)
7.61 4.77 3.42 2.90 2.49
First Principal Payment 9/25/00 9/25/00 9/25/00 9/25/00 9/25/00
Last Principal Payment 4/25/22 10/25/1612/25/111/25/10 7/25/08
Principal Lockout (months) 0 0 0 0 0
Principal Window (months) 260 194 136 113 95
Illustrative Yield @ Par
(30/360) 8.198% 8.155% 8.110% 8.082% 8.051%
-------------------------------------------------------------------------------
Class A-II (to maturity)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
CPR 0% 8% 15 % 19% 23%
-------------------------------------------------------------------------------
Average Life (years)
14.32 7.69 5.02 4.08 3.40
Modified Duration (years)
7.63 4.86 3.54 3.02 2.61
First Principal Payment 9/25/00 9/25/00 9/25/00 9/25/00 9/25/00
Last Principal Payment 9/25/23 4/25/23 6/25/21 3/25/19 2/25/17
Principal Lockout (months) 0 0 0 0 0
Principal Window (months) 277 272 250 223 198
Illustrative Yield @ Par
(30/360) 8.199% 8.166% 8.132% 8.110% 8.085%
-------------------------------------------------------------------------------
<PAGE>
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