--------------------------------------------------------------------------------
[BEAR STEARNS 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
--------------------------------------------------------------------------------
New Issue Computational Materials
$390,266,000 (Approximate)
Mortgage Asset-Backed Pass-Through Certificates,
Series 2000-RS3
Residential Asset Mortgage Products, Inc.
Depositor
RAMP Series 2000-RS3 Trust
Issuer
Residential Funding Corporation
Seller and Master Servicer
September 6, 2000
BEAR STEARNS
________________________________________________________________________________
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.
<PAGE>
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. 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.
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.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 1 of 8)
-------------------------------------------------------------------------------
$390,266,000
(Class sizes will be subject to a 10% variance)
Issuer: RAMP Series 2000-RS3 Trust (the "Trust")
Depositor: Residential Asset Mortgage Products, Inc., an affiliate of RFC.
Seller: Residential Funding Corporation (the "Seller" or "RFC"), an indirect,
wholly-owned subsidiary of GMAC Mortgage Group, Inc.
Underwriters: Lead Manager: Bear, Stearns & Co. Inc. Co-Manager: Prudential
Securities Incorporated
Certificate Insurer: Ambac Assurance Corporation ("Ambac")
Master Servicer: Residential Funding Corporation (the "Master Servicer" or
"RFC"), an affiliate of the Seller and an indirect, wholly-owned subsidiary
of GMAC Mortgage Group, Inc.
Special Servicer: RFC's Asset Resolution Division ("ARD"), a division of
HomeComings Financial Network, Inc. ("HomeComings") will act as Special
Servicer with respect to approximately 70.08% of the Fixed Rate Mortgage
Loans and approximately 46.63% of the Adjustable Rate Mortgage Loans, if
and when they become 90 days or more delinquent. HomeComings is a
wholly-owned subsidiary of RFC. The remaining Fixed Rate and Adjustable
Rate Mortgage Loans are being subserviced by other entities as of the
Cut-Off Date. ARD was awarded a "Special Servicer" designation from
Standard & Poor's and Fitch, Inc. in March 1999.
Characteristics of the Certificates (a), (b), (c), (d)
<TABLE>
<CAPTION>
------------- ------- ------------ ----------- -------- -------- --------- ---------- --------------
Original Avg PrincipalPrincipal Final
Offered Loan Principal Life Lockout Window Sch. Ratings
Certificates Group Balance Coupon to Call (months) (months) Maturity (S&P/Fitch)
(years) Date
------------- ------- ------------ ----------- -------- -------- --------- ---------- --------------
Option I
<S> <C> <C> <C> <C> <C>
Class I $38,798,000 Fixed 1.0 None 26 5/25/15 AAA / AAA
A-I-1
Class I 22,990,000 Fixed 3.0 25 22 3/25/21 AAA / AAA
A-I-2
Class I 18,672,000 Fixed 5.0 46 28 11/25/24 AAA / AAA
A-I-3
Class I 38,802,000 Fixed 8.1 73 29 9/25/30 AAA / AAA
A-I-4
Class A-II II 271,004,000 Floating 2.6 None 102 9/25/30 AAA / AAA
(e)
Option II
Class A-I I 119,262,000 Fixed 4.3 None 102 9/25/30 AAA / AAA
Class A-II II 271,004,000 Floating 2.6 None 102 9/25/30 AAA / AAA
(e)
------------- ------- ------------ ----------- -------- -------- --------- ---------- --------------
Notes:
(a) Pricing Prepayment Speed Assumption: 15% CPR (Fixed Rate Mortgage Loans); 30% CPR
(Adjustable Rate Mortgage Loans).
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac.
(d) The coupon on the Class A-I-4 Certificates will increase by 0.50% and the
margin on the Class A-II Certificates will double if the 10% clean-up
call is not exercised.
(e) The lesser of (i) One-Month LIBOR plus 0._ % per annum and (ii) 14%, subject to the Net
WAC Cap Rate.
</TABLE>
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 2 of 8)
--------------------------------------------------------------------------------
Trustee: Wells Fargo Bank Minnesota, National Association.
Custodian: Norwest Bank Minnesota, National Association.
The Certificates: The Trust will issue several classes of senior Certificates
(namely, the Class A-I-1 Certificates, the Class A-I-2 Certificates, the
Class A-I-3 Certificates, and the Class A-I-4 Certificates (together, the
"Group I Certificates") and the Class A-II Certificates (together with the
Group I Certificates, the "Class A Certificates")) and multiple
subordinated and residual certificates (the "Class SB Certificates" and the
"Class R Certificates," respectively). Neither the Class SB Certificates
nor the Class R Certificates will be offered hereby.
Offering: The Class A Certificates will be issued publicly from a shelf
registration.
Form of Registration: The Class A Certificates will be issued in book-entry form
through DTC, Clearstream and Euroclear.
Cut-off Date: As of September 1, 2000.
Settlement Date: On or about September 27, 2000.
Distribution Date: The 25th day of each month (or the next succeeding business
day), commencing October 25, 2000.
Pass-Through Rate: Interest will accrue on the Class A-I Certificates during the
month prior to the month of the related Distribution Date (or from the
Cut-off Date to the end of such month in the case of the first Distribution
Date) on a 30/360-day basis.
The Pass-Through Rate on Class A-I-4 Certificates will increase by 0.50%
after the Step-Up Date. The "Step-Up Date" is the first Distribution Date
after the Distribution Date on which the current Pool Principal Balance
declines to 10% or less of the original Pool Principal Balance of the
aggregate Mortgage Loans.
On each Distribution Date, the Class A-II Pass-Through Rate will be a per
annum rate equal to the lesser of (x) with respect to any Distribution Date
which occurs prior to the Step-Up Date, One-Month LIBOR plus __% (the
"Class A-II Margin"), and for any Distribution Date thereafter, One-Month
LIBOR plus 2.0 times the Class A-II Margin, and (y) 14%, subject to the Net
WAC Cap Rate. Interest will accrue on the Class A-II Certificates on an
actual/360 basis.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 3 of 8)
--------------------------------------------------------------------------------
Net WAC Cap Rate: With respect to any Distribution Date and the Class A-II
Certificates, the weighted average of the Net Mortgage Rates of the Group
II Mortgage Loans.
Net Mortgage Rate: With respect to any mortgage loan, the mortgage rate thereon
minus (i) the rates at which the master servicing and subservicing fees are
paid and (ii) the rates for the related premium for the certificate
guaranty insurance policy, in each case, expressed as a percentage of the
Stated Principal Balance of the mortgage loans in the related loan group.
Assets of the Trust: On the Closing Date, the assets of the Trust are expected
to include: (i) the Mortgage Loans (consisting of the Group I Mortgage
Loans and the Group II Mortgage Loans); (ii) such assets as from time to
time are identified as deposited in respect of the Mortgage Loans in the
Custodial Account and in the Certificate Account and belonging to the
Trust; (iii) property acquired by foreclosure of such Mortgage Loans or
deed in lieu of foreclosure; (iv) the Policy; (v) the right to receive
amounts received from any additional collateral that has been assigned to
the Trustee; and (vi) all proceeds of the foregoing.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 4 of 8)
--------------------------------------------------------------------------------
Collateral Description: On the Closing Date, the assets of the Trust will
consist of 1,132 fixed-rate mortgage loans (the "Group I Mortgage Loans" or
the "Fixed Rate Mortgage Loans") with an aggregate principal balance of
$121,078,680 as of the Cut-off Date and 1,735 adjustable-rate mortgage
loans (the "Group II Mortgage Loans" or the "Adjustable Rate Mortgage
Loans") with an aggregate principal balance of $272,366,175 as of the
Cut-off Date, and the mortgage notes relating thereto (as described more
fully herein).
The Mortgage Loans were underwritten to a wide variety of underwriting
standards under several different programs, as more fully described in the
Prospectus Supplement. The Group I and Group II Mortgage Loans will consist
of the following subgroups:
------------------------------ --------------- -------------
------------------------------ --------------- -------------
Seasoned Loans 3.53% 3.37%
------------------------------ --------------- -------------
------------------------------ --------------- -------------
Program Exception Loans 92.08% 94.13%
------------------------------ --------------- -------------
------------------------------ --------------- -------------
Reperforming Loans 4.39% 2.50%
------------------------------ --------------- -------------
Seasoned Loans: Loans that are seasoned longer than 13 months. They are
typically not purchased through RFC's standard conduit guidelines due to
the need to rely on origination information related to the mortgagor's
credit and the property value. Seasoned loans may also include loans
previously securitized, where the optional termination has been exercised.
Program Exception Loans: Loans that are exceptions to RFC's standard
guidelines under their Jumbo, Alt-A or Subprime Programs. Program
Exceptions can be further segmented into either a technical program error
or a fundamental exception. A technical error is defined as a loan that did
not meet a specific program parameter, such as origination of an uninsured
90% LTV targeted for a secondary program specifying a maximum 80% LTV, a
higher ARM margin than that required by a particular program or a
contractual delinquency of 30-89 days. A fundamental exception is one that
describes exceptions to general lending and/or secondary market standards
and practices, such as document deficiencies.
Reperforming Loans: Loans that have a default history and are characterized
as at least 90 days delinquent because the borrower still has prior
scheduled principal due. However, the loans are considered Re-Performing
because the borrower has either (a) made at least three aggregate scheduled
payments in the last three months or (b) the borrower has made at least
four aggregate scheduled payments in the last six months.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 5 of 8)
--------------------------------------------------------------------------------
Priority of Distributions: On each Distribution Date, amounts available for
distribution will be allocated in the following order of priority:
1. To pay accrued interest due on the Class A Certificates;
2. To pay principal to the holders of the Class A Certificates in an amount
equal to scheduled principal and principal prepayments received or advances
in respect of the related Mortgage Loans;
3. To pay as principal to the Class A Certificates an amount necessary to
cover Realized Losses on the related Mortgage Loans;
4. To pay permitted reimbursements to the Certificate Insurer for prior draws
on the Policy;
5. To pay as additional principal on the Class A Certificates, the amount
necessary to bring the amount of overcollateralization up to the Required
Overcollateralization Amount;
6. To pay prepayment interest shortfalls on the Class A Certificates;
7. To pay any Basis Risk Shortfall Carry-Forward Amounts to the Class A-II
Certificates; and
8. To the holders of the Class SB Certificates and the Class R Certificates,
any remaining Excess Cash Flow.
Principal Distributions: The principal distribution amount with respect to the
Group I Mortgage Loans will be distributed to the Class A-I-1, Class A-I-2,
Class A-I-3 and Class A-I-4 Certificates, in that order, until paid in
full. The principal distribution amount with respect to the Group II
Mortgage Loans will be distributed to the Class A-II Certificates until
paid in full. Basis Risk Shortfall Carry-Forward Amount: The "Basis Risk
Shortfall Carry-Forward Amount" is equal to the aggregate amount of Basis
Risk Shortfall on such Distribution Date, plus any unpaid Basis Risk
Shortfall from prior Distribution Dates, plus interest thereon to the
extent previously unreimbursed.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 6 of 8)
--------------------------------------------------------------------------------
Basis Risk Shortfall
Carry-Forward Amount: (cont'd):
On any Distribution Date on which the Class A-II Certificates receive
interest based on the Net WAC Cap Rate, "Basis Risk Shortfall" is equal to
the excess, if any, of (a) accrued certificate interest on the Class A-II
Certificates calculated pursuant to the lesser of (i) clause (x) of the
definition of Pass-Through Rate thereof and (ii) 14% over (b) accrued
certificate interest on the Class A-II Certificates calculated pursuant to
the Net WAC Cap Rate. Basis Risk Shortfall will only be recoverable from
Excess Cash Flow, and not from the Policy or otherwise.
Stepdown Date: The Stepdown Date is the Distribution Date occurring on the later
of:
(1) the 31st Distribution Date (or April 2003); and
(2) the first Distribution Date on which the current Pool Principal Balance has
been reduced to an amount equal to 50% or less of the original Pool
Principal Balance.
Allocation of Losses: Realized Losses with respect to each Mortgage Loan Group
will be covered as follows:
1. By the amount of Excess Cash Flow available;
2. By decreasing the amount of overcollateralization in the Trust.
To the extent not covered as described above, Realized Losses on the
Mortgage Loans will be allocated to the Class A Certificates related to
that Mortgage Loan Group. Any such loss will be covered by the Policy.
Advancing: The Master Servicer will be obligated to advance delinquent principal
and interest through the liquidation of REO or until deemed unrecoverable.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 7 of 8)
--------------------------------------------------------------------------------
Credit Enhancement: Credit enhancement with respect to the Certificates will be
provided by (1) Excess Cash Flow, (2) overcollateralization, and (3) the
Policy.
Excess Cash Flow: The interest due on the Mortgage Loans is generally
expected to be higher than the interest due on the Certificates and other
fees and expenses of the Trust, thus creating excess interest collections
("Excess Cash Flow"), which will be available to fund distributions on the
Certificates, commencing with the Distribution Date in November 2000. Such
amount can vary over time based on the prepayment and default experience of
the Mortgage Loans. Excess Cash Flow that arises during the related
collection period will be available to cover losses and build
overcollateralization on such Distribution Date.
Overcollateralization: The initial overcollateralization amount, as of the
Closing Date, will be equal to [1.50]% of the original Pool Principal
Balance of the Group I Mortgage Loans and [0.50]% of the original Pool
Principal Balance of the Group II Mortgage Loans. Thereafter, Excess Cash
Flow will be applied, to the extent available, to make accelerated payments
of principal to the Class A Certificates; such application will cause the
aggregate principal balance of the Class A Certificates to amortize more
rapidly than the Mortgage Loans, resulting in overcollateralization. Prior
to the Stepdown Date, the "Required Overcollateralization Amount," which
will be a separate amount for each Mortgage Loan Group, will be equal to
[3.50]% of the original Pool Principal Balance of the Group I Mortgage
Loans and [1.25]% of the original Pool Principal Balance of the Group II
Mortgage Loans. On or after the Stepdown Date, the "Required
Overcollateralization Amount" will be permitted, subject to certain
performance triggers being satisfied, to decrease to (a) [7.00]% of current
Pool Principal Balance of the Group I Mortgage Loans, subject to a floor of
0.50% of the original Pool Principal Balance of the Group I Mortgage Loans,
and (b) [2.50]% of current Pool Principal Balance of the Group II Mortgage
Loans, subject to a floor of 0.50% of the original Pool Principal Balance
of the Group II Mortgage Loans. The Required Overcollateralization Amount
may be reduced in the future with the consent of the Certificate Insurer.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Preliminary Term Sheet (Page 8 of 8)
--------------------------------------------------------------------------------
Ambac Insurance Policy: Ambac Assurance Corporation (the "Certificate
Insurer") 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
Class A Certificates by no later than their respective final scheduled
maturity date (the "Policy"). The Policy is not revocable for any reason.
Compensating Interest: The Master Servicer will be required to cover interest
shortfalls as a result of principal prepayments in full up to the lesser of
(a) one-twelfth of 0.125% and (b) the sum of the Master Servicing Fee
payable to the Master Servicer plus reinvestment income for such
distribution date.
Minimum Denominations: $25,000 and integral multiples of $1 in excess thereof.
Optional Call: The Master Servicer may, at its option, effect an early
redemption or termination of the Class A Certificates on the first
Distribution Date after the Distribution Date on which the current Pool
Principal Balance declines to 10% or less of the original Pool Principal
Balance of the Mortgage Loans.
Tax Status: The Trust will be established as a REMIC for tax purposes.
ERISAEligibility: The Class A Certificates are expected to be eligible for
benefit plans that are subject to ERISA.
SMMEATreatment: The Class A Certificates will not constitute "mortgage related
securities" for purposes of SMMEA.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Certificates (Page 1 of 5)
--------------------------------------------------------------------------------
Characteristics of the Certificates (a), (b), (c), (d)
<TABLE>
<CAPTION>
------------- ------- ------------ ----------- -------- -------- --------- ---------- --------------
Original Avg PrincipalPrincipal Final
Offered Loan Principal Life Lockout Window Sch. Ratings
Certificates Group Balance Coupon to Call (months) (months) Maturity (S&P/Fitch)
(years) Date
------------- ------- ------------ ----------- -------- -------- --------- ---------- --------------
Option I
<S> <C> <C> <C> <C> <C>
Class I $38,798,000 Fixed 1.0 None 26 5/25/15 AAA / AAA
A-I-1
Class I 22,990,000 Fixed 3.0 25 22 3/25/21 AAA / AAA
A-I-2
Class I 18,672,000 Fixed 5.0 46 28 11/25/24 AAA / AAA
A-I-3
Class I 38,802,000 Fixed 8.1 73 29 9/25/30 AAA / AAA
A-I-4
Class A-II II 271,004,000 Floating 2.6 None 102 9/25/30 AAA / AAA
(e)
Option II
Class A-I I 119,262,000 Fixed 4.3 None 102 9/25/30 AAA / AAA
Class A-II II 271,004,000 Floating 2.6 None 102 9/25/30 AAA / AAA
(e)
------------- ------- ------------ ----------- -------- -------- --------- ---------- --------------
Notes:
(a) Pricing Prepayment Speed Assumption: 15% CPR (Fixed Rate Mortgage Loans); 30% CPR
(Adjustable Rate Mortgage Loans).
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac.
(d) The coupon on the Class A-I-4 Certificates will increase by 0.50% and the
margin on the Class A-II Certificates will double if the 10% clean-up
call is not exercised.
(e) The lesser of (i) One-Month LIBOR plus 0._ % per annum and (ii) 14%, subject to the Net
WAC Cap Rate.
Option I
Class A-I-1 (to 10% Clean-up Call)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
9.3 1.8 1.3 1.0 0.8 0.7
Modified Duration (years)
6.0 1.6 1.2 0.9 0.7 0.6
First Principal Distribution 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Principal Distribution 5/25/15 8/25/04 8/25/03 11/25/02 5/25/02 1/25/02
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 176 47 35 26 20 16
Illustrative Yield @ Par (30/360) 7.597% 7.360% 7.262% 7.130% 6.997% 6.863%
-----------------------------------------------------------------------------------------------
Class A-I-2 (to 10% Clean-up Call)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
16.5 5.4 4.1 3.0 2.3 1.9
Modified Duration (years)
9.2 4.3 3.4 2.6 2.1 1.7
First Principal Distribution 5/25/15 8/25/04 8/25/03 11/25/02 5/25/02 1/25/02
Last Principal Distribution 3/25/20 11/25/07 1/25/06 8/25/04 10/25/03 3/25/03
Principal Lockout (months) 175 46 34 25 19 15
Principal Window (months) 59 40 30 22 18 15
Illustrative Yield @ Par (30/360) 7.564% 7.502% 7.470% 7.425% 7.378% 7.329%
-----------------------------------------------------------------------------------------------
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Certificates (Page 2 of 5)
-----------------------------------------------------------------------------------------------
Option I (cont'd)
Class A-I-3 (to 10% Clean-up Call)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
21.7 8.9 6.7 5.0 3.9 3.2
Modified Duration (years)
10.2 6.2 5.1 4.0 3.3 2.7
First Principal Distribution 3/25/20 11/25/07 1/25/06 8/25/04 10/25/03 3/25/03
Last Principal Distribution 5/25/24 8/25/11 1/25/09 11/25/06 7/25/05 9/25/04
Principal Lockout (months) 233 85 63 46 36 29
Principal Window (months) 51 46 37 28 22 19
Illustrative Yield @ Par (30/360) 7.744% 7.712% 7.693% 7.666% 7.637% 7.607%
-----------------------------------------------------------------------------------------------
Class A-I-4 (to 10% Clean-up Call)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
26.5 14.2 10.8 8.1 6.3 5.1
Modified Duration (years)
10.7 8.2 7.0 5.7 4.8 4.0
First Principal Distribution 5/25/24 8/25/11 1/25/09 11/25/06 7/25/05 9/25/04
Last Principal Distribution 8/25/28 11/25/15 1/25/12 3/25/09 4/25/07 1/25/06
Principal Lockout (months) 283 130 99 73 57 47
Principal Window (months) 52 52 37 29 22 17
Illustrative Yield @ Par (30/360) 8.033% 8.018% 8.007% 7.991% 7.972% 7.952%
-----------------------------------------------------------------------------------------------
Class A-I-4 (to Maturity)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
26.7 17.1 14.1 11.1 8.9 7.4
Modified Duration (years)
10.7 8.9 8.0 6.9 6.0 5.2
First Principal Distribution 5/25/24 8/25/11 1/25/09 11/25/06 7/25/05 9/25/04
Last Principal Distribution 1/25/30 4/25/29 4/25/28 8/25/25 1/25/22 10/25/18
Principal Lockout (months) 283 130 99 73 57 47
Principal Window (months) 69 213 232 226 199 170
Illustrative Yield @ Par (30/360) 8.035% 8.060% 8.080% 8.091% 8.097% 8.097%
-----------------------------------------------------------------------------------------------
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Certificates (Page 3 of 5)
-----------------------------------------------------------------------------------------------
Option I (cont'd)
Class A-II (to 10% Clean-up Call)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
19.6 5.3 3.5 2.6 2.0 1.6
Modified Duration (years)
9.7 3.8 2.7 2.2 1.7 1.4
First Principal Distribution 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Principal Distribution 8/25/28 11/25/15 1/25/12 3/25/09 4/25/07 1/25/06
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 335 182 136 102 79 64
Illustrative Yield @ Par (30/360) 7.175% 7.173% 7.172% 7.170% 7.169% 7.168%
-----------------------------------------------------------------------------------------------
Class A-II (to Maturity)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
19.7 5.5 3.6 2.7 2.0 1.6
Modified Duration (years)
9.7 3.9 2.8 2.2 1.7 1.4
First Principal Distribution 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Principal Distribution 2/25/30 1/25/26 4/25/19 11/25/14 7/25/11 6/25/09
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 353 304 223 170 130 105
Illustrative Yield @ Par (30/360) 7.175% 7.178% 7.177% 7.177% 7.175% 7.174%
-----------------------------------------------------------------------------------------------
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Certificates (Page 4 of 5)
-----------------------------------------------------------------------------------------------
Option II
Class A-I (to 10% Clean-up Call)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
18.2 7.6 5.8 4.3 3.4 2.7
Modified Duration (years)
8.8 5.0 4.1 3.3 2.7 2.3
First Principal Distribution 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Principal Distribution 8/25/28 11/25/15 1/25/12 3/25/09 4/25/07 1/25/06
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 335 182 136 102 79 64
Illustrative Yield @ Par (30/360) 7.879% 7.834% 7.812% 7.781% 7.746% 7.711%
-----------------------------------------------------------------------------------------------
Class A-I (to Maturity)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
18.3 8.6 6.9 5.3 4.2 3.5
Modified Duration (years)
8.8 5.2 4.5 3.7 3.1 2.7
First Principal Distribution 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Principal Distribution 1/25/30 4/25/29 4/25/28 8/25/25 1/25/22 10/25/18
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 352 343 331 299 256 217
Illustrative Yield @ Par (30/360) 7.879% 7.859% 7.859% 7.850% 7.837% 7.818%
-----------------------------------------------------------------------------------------------
Class A-II (to 10% Clean-up Call)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
19.6 5.3 3.5 2.6 2.0 1.6
Modified Duration (years)
9.7 3.8 2.7 2.2 1.7 1.4
First Principal Distribution 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Principal Distribution 8/25/28 11/25/15 1/25/12 3/25/09 4/25/07 1/25/06
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 335 182 136 102 79 64
Illustrative Yield @ Par (30/360) 7.175% 7.173% 7.172% 7.170% 7.169% 7.168%
-----------------------------------------------------------------------------------------------
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Certificates (Page 5 of 5)
-----------------------------------------------------------------------------------------------
Option II (cont'd)
Class A-II (to Maturity)
-----------------------------------------------------------------------------------------------
Prepayment Assumption (CPR):
Fixed Rate Mortgage Loans 0% 8% 11% 15% 19% 23%
Adjustable Rate Mortgage Loans 0% 15% 23% 30% 38% 45%
-----------------------------------------------------------------------------------------------
Average Life (years)
19.7 5.5 3.6 2.7 2.0 1.6
Modified Duration (years)
9.7 3.9 2.8 2.2 1.7 1.4
First Principal Distribution 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00 10/25/00
Last Principal Distribution 2/25/30 1/25/26 4/25/19 11/25/14 7/25/11 6/25/09
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 353 304 223 170 130 105
Illustrative Yield @ Par (30/360) 7.175% 7.178% 7.177% 7.177% 7.175% 7.174%
-----------------------------------------------------------------------------------------------
</TABLE>
________________________________________________________________________________
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.
<PAGE>
<TABLE>
<CAPTION>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Group II Net WAC Cap Rate (Page 1 of 1)
------------------------------------------------------------------------------------------------
Distribution Net WAC Distribution Net WAC Distribution Net WAC
Month Date Cap (%) Month Date Cap (%) Month Date Cap (%)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 10/25/00 8.41% 41 2/25/04 9.58% 81 6/25/07 9.63%
2 11/25/00 8.15% 42 3/25/04 10.25% 82 7/25/07 9.95%
3 12/25/00 8.60% 43 4/25/04 9.59% 83 8/25/07 9.63%
4 1/25/01 8.36% 44 5/25/04 9.91% 84 9/25/07 9.63%
5 2/25/01 8.43% 45 6/25/04 9.59% 85 10/25/07 9.95%
6 3/25/01 9.33% 46 7/25/04 9.91% 86 11/25/07 9.63%
7 4/25/01 8.43% 47 8/25/04 9.59% 87 12/25/07 9.96%
8 5/25/01 8.71% 48 9/25/04 9.59% 88 1/25/08 9.64%
9 6/25/01 8.43% 49 10/25/04 9.91% 89 2/25/08 9.64%
10 7/25/01 9.03% 50 11/25/04 9.59% 90 3/25/08 10.30%
11 8/25/01 8.73% 51 12/25/04 9.91% 91 4/25/08 9.64%
12 9/25/01 8.74% 52 1/25/05 9.59% 92 5/25/08 9.96%
13 10/25/01 9.03% 53 2/25/05 9.59% 93 6/25/08 9.64%
14 11/25/01 8.76% 54 3/25/05 10.62% 94 7/25/08 9.97%
15 12/25/01 9.06% 55 4/25/05 9.60% 95 8/25/08 9.65%
16 1/25/02 8.76% 56 5/25/05 9.92% 96 9/25/08 9.65%
17 2/25/02 9.01% 57 6/25/05 9.60% 97 10/25/08 9.97%
18 3/25/02 9.97% 58 7/25/05 9.92% 98 11/25/08 9.65%
19 4/25/02 9.01% 59 8/25/05 9.60% 99 12/25/08 9.98%
20 5/25/02 9.31% 60 9/25/05 9.60% 100 1/25/09 9.66%
21 6/25/02 9.17% 61 10/25/05 9.92% 101 2/25/09 9.66%
22 7/25/02 9.48% 62 11/25/05 9.60% 102 3/25/09 10.70%
23 8/25/02 9.24% 63 12/25/05 9.92%
24 9/25/02 9.24% 64 1/25/06 9.61%
25 10/25/02 9.54% 65 2/25/06 9.61%
26 11/25/02 9.24% 66 3/25/06 10.64%
27 12/25/02 9.56% 67 4/25/06 9.61%
28 1/25/03 9.26% 68 5/25/06 9.93%
29 2/25/03 9.26% 69 6/25/06 9.61%
30 3/25/03 10.51% 70 7/25/06 9.93%
31 4/25/03 9.49% 71 8/25/06 9.61%
32 5/25/03 9.81% 72 9/25/06 9.61%
33 6/25/03 9.58% 73 10/25/06 9.94%
34 7/25/03 9.90% 74 11/25/06 9.62%
35 8/25/03 9.58% 75 12/25/06 9.94%
36 9/25/03 9.58% 76 1/25/07 9.62%
37 10/25/03 9.90% 77 2/25/07 9.62%
38 11/25/03 9.58% 78 3/25/07 10.65%
39 12/25/03 9.90% 79 4/25/07 9.62%
40 1/25/04 9.58% 80 5/25/07 9.95%
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Collateral (Page 1 of 3)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Group I Mortgage Loans (Fixed Rate)
As of the Cut-off Date
<PAGE>
-------------------------------------------------------------------------------------------------
Collateral Jumbo A* Alt A* Subprime* Seasoned Reperforming Total
Sub-Group
-------------------------------------------------------------------------------------------------
Percent of Total 35.44% 21.70% 34.94% 3.53% 4.39% 100.00%
Current Balance $42,908,331 $26,277,806 $42,300,310 $4,275,137 $5,317,096 $121,078,680
Loan Count 234 203 575 52 68 1,132
Average Balance $183,369 $129,447 $73,566 $82,214 $78,193 $106,960
%>$200,000 69.69% 34.32% 12.67% 25.94% 10.49% 37.95%
%>$500,000 19.53% 0.00% 0.00% 0.00% 0.00% 6.92%
-------------------------------------------------------------------------------------------------
Gross WAC (%) 9.121% 9.445% 11.195% 9.620% 10.518% 9.995%
WAM (mos) 330 349 284 281 253 313
WA Age (mos) 13 4 7 58 38 12
WA Orig. Term 343 353 291 339 291 325
(mos)
-------------------------------------------------------------------------------------------------
Balloon 4.11% -- 28.37% 12.41% 29.61% 13.11%
Fully Amortizing 95.89% 100.00% 71.63% 87.59% 70.39% 86.89%
-------------------------------------------------------------------------------------------------
First Lien 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Second Lien -- -- -- -- -- --
-------------------------------------------------------------------------------------------------
WA FICO 663 672 589 565 537 630
% below 640 25.05% 29.78% 83.41% 98.99% 100.00% 52.37%
Current CLTV 80.07% 81.50% 84.22% 77.47% 79.33% 81.71%
-------------------------------------------------------------------------------------------------
Loan Type
Single Family 77.31% 85.47% 85.84% 91.03% 92.16% 83.20%
Manuf. Housing 1.30% 1.06% 6.76% -- -- 3.05%
Condo 5.41% 2.93% 2.13% 4.31% 2.66% 3.57%
PUD 15.28% 9.33% 4.25% 4.66% 5.18% 9.32%
Other 0.70% 1.21% 1.02% -- -- 0.87%
-------------------------------------------------------------------------------------------------
Occupancy Status
Owner Occupied 96.68% 60.66% 92.49% 95.45% 95.62% 87.31%
Investor Property 3.32% 39.34% 7.51% 4.55% 4.38% 12.69%
------------------------------------------------------------------------------
-------------------
Loan Purpose
Purchase Money 57.33% 74.25% 25.62% 27.80% 35.75% 47.94%
Cash Out/Refi 27.99% 12.86% 63.92% 35.13% 43.33% 38.18%
Rate Term/Refi 11.87% 12.88% 9.50% 37.07% 20.92% 12.55%
Other 2.81% 0.00% 0.96% -- -- 1.33%
-------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------
States > 4%
California 32.48% 9.17% 5.04% 31.21% 12.37% 16.91%
Illinois 4.52% 11.91% 4.31% 8.27% 4.87% 6.20%
New York 8.40% 1.19% 6.92% 6.81% 3.45% 6.04%
North Carolina 2.57% 1.09% 10.67% 3.30% 2.52% 5.11%
Florida 5.79% 3.53% 5.16% 2.03% 5.89% 4.95%
Arizona 3.32% 13.29% 1.25% 0.89% 0.78% 4.56%
Other 42.92% 59.82% 66.65% 47.49% 70.12% 56.23%
-------------------------------------------------------------------------------------------------
* Loans in this category represent exceptions to RFC's program guidelines for
Jumbo A, Alt-A or Subprime, as indicated.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Collateral (Page 2 of 3)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Group II Mortgage Loans (ARMs)
As of the Cut-off Date
--------------------------------------------------------------------------------------------------------
Collateral Jumbo A Jumbo A* Alt A* Subprime* Seasoned Reperforming Total
Sub-Group
--------------------------------------------------------------------------------------------------------
Percent of Total 1.37% 54.40% 16.19% 22.16% 3.37% 2.50% 100.00%
Current Balance $3,738,274$148,155,333 $44,103,922 $60,363,444 $9,183,612 $6,821,591 $272,366,175
Loan Count 10 768 197 622 71 67 1,735
Average Balance $373,827 $192,911 $223,878 $97,047 $129,347 $101,815 $156,983
%>$200,000 84.84% 66.97% 68.85% 21.31% 39.33% 24.82% 55.41%
%>$500,000 60.80% 21.46% 14.90% 0.00% 14.69% 0.00% 15.42%
--------------------------------------------------------------------------------------------------------
Gross WAC (%) 8.115% 8.339% 8.465% 10.610% 9.292% 10.952% 8.957%
WAM (mos) 342 329 355 352 244 290 335
WA Age (mos) 11 30 4 6 87 46 22
WA Orig. Term 353 359 359 358 331 336 357
(mos)
--------------------------------------------------------------------------------------------------------
Balloon -- -- -- -- -- -- --
Fully Amortizing 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Negative Amort % -- 11.63% 16.31% -- 1.31% 0.62% 9.03%
--------------------------------------------------------------------------------------------------------
First Lien 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Second Lien -- -- -- -- -- -- --
--------------------------------------------------------------------------------------------------------
WA FICO 698 692 688 574 581 532 658
% below 640 9.89% 22.02% 14.67% 91.32% 78.67% 100.00% 39.89%
Current CLTV 66.20% 72.28% 75.81% 80.87% 74.19% 75.60% 74.82%
--------------------------------------------------------------------------------------------------------
WA Margin 3.118% 3.215% 3.147% 6.708% 3.955% 6.116% 4.074%
WA Lifetime Cap 12.380% 13.862% 13.227% 16.990% 15.043% 16.804% 14.546%
WA Next Rate 5 8 23 21 5 5
Adj. 13
--------------------------------------------------------------------------------------------------------
Loan Type
Single Family 75.80% 75.40% 65.10% 83.93% 93.83% 93.66% 76.71%
Manuf. Housing -- 0.30% -- 5.07% -- -- 1.29%
Condo -- 6.01% 12.80% 4.01% 2.81% 2.28% 6.38%
PUD 24.20% 16.97% 22.10% 5.81% 3.36% 4.05% 14.64%
Other -- 1.32% -- 1.18% -- -- 0.98%
--------------------------------------------------------------------------------------------------------
Occupancy Status
Owner Occupied 100.00% 93.86% 94.38% 90.79% 74.40% 89.67% 92.59%
Investor -- 6.14% 5.62% 9.21% 25.60% 10.33% 7.41%
Property
--------------------------------------------------------------------------------------------------------
Loan Purpose
Purchase Money 22.95% 46.55% 65.98% 23.35% 42.90% 19.20% 43.42%
Cash Out/Refi 26.20% 25.29% 25.28% 62.62% 46.71% 55.94% 35.06%
Rate Term/Refi -- 24.22% 8.74% 10.46% 10.39% 24.86% 17.88%
Other 50.85% 3.94% -- 3.57% -- -- 3.63%
--------------------------------------------------------------------------------------------------------
* Loans in this category represent exceptions to RFC's program guidelines for
Jumbo A, Alt-A or Subprime, as indicated.
________________________________________________________________________________
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.
<PAGE>
Residential Funding Corporation
RAMP 2000-RS3
Computational Materials: Information Relating to the Collateral (Page 3 of 3)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Group II Mortgage Loans (ARMs)
As of the Cut-off Date
(cont'd)
--------------------------------------------------------------------------------------------------------
Collateral Jumbo A Jumbo A* Alt A* Subprime* Seasoned Reperforming Total
Sub-Group
--------------------------------------------------------------------------------------------------------
Percent of 1.37% 54.40% 16.19% 22.16% 3.37% 2.50% 100.00%
Total
--------------------------------------------------------------------------------------------------------
States > 4%
California -- 31.80% 23.20% 10.34% 46.31% 13.99% 25.26%
Illinois -- 10.68% 6.38% 4.51% 6.27% 6.22% 8.21%
South 100.00% 9.83% 3.73% 2.88% -- -- 7.96%
Carolina
Michigan -- 8.97% 0.72% 3.93% 9.37% 1.03% 6.21%
Arizona -- 5.29% 14.26% 1.64% -- 5.12% 5.68%
Colorado -- 2.79% 17.06% 3.13% 2.94% -- 5.07%
Other -- 30.64% 34.65% 73.57% 35.11% 73.64% 41.61%
--------------------------------------------------------------------------------------------------------
Index
6 month LIBOR -- 24.36% 17.54% 99.58% 29.69% 71.69% 40.96%
1 Year UST 100.00% 63.82% 82.46% 0.42% 26.34% 20.02% 50.92%
COFI -- 11.82% -- -- 42.18% 8.29% 8.06%
Other -- -- -- -- 1.79% -- 0.06%
--------------------------------------------------------------------------------------------------------
</TABLE>
* Loans in this category represent exceptions to RFC's program guidelines for
Jumbo A, Alt-A or Subprime, as indicated.
________________________________________________________________________________
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.
<PAGE>
***********************************************************************
Bear Stearns is not responsible for any recommendation, solicitation,
offer or agreement or any information about any transaction, customer
account or account activity contained in this communication.
***********************************************************************
<PAGE>
