<PAGE>
Exhibit 99.1
[LOGOS]
--------------------------------------------------------------------------------
RMBS NEW ISSUE TERM SHEET
CENTEX HOME EQUITY LOAN TRUST 2000-C
$400,000,000 (APPROXIMATE)
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES,
CLASSES A-1, A-2, A-3, A-4, A-5, A-6 AND A-7
CHEC FUNDING, LLC
DEPOSITOR
CENTEX HOME EQUITY CORPORATION & CHEC CONDUIT FUNDING, LLC
SELLERS
CENTEX HOME EQUITY CORPORATION
SERVICER
SEPTEMBER 5, 2000
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
OFFERED CERTIFICATES
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
TO MATURITY:
EXPECTED Final
EXPECTED EXPECTED Principal Distribution EXPECTED Ratings
Approximate Interest Principal WAL (yrs) Window Date
Class Size* Type Type (mos)
S&P Moody's Fitch
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 ** 97,000,000 Fixed SEQ 0.91 1 - 19 08/25/2015 AAA Aaa AAA
A-2** 47,000,000 Fixed SEQ 2.03 19 - 30 12/25/2020 AAA Aaa AAA
A-3** 46,000,000 Fixed SEQ 3.05 30 - 44 09/25/2025 AAA Aaa AAA
A-4 ** 63,000,000 Fixed SEQ 5.32 44 - 97 05/25/2029 AAA Aaa AAA
A-5 ** 23,840,000 Fixed SEQ 9.59 97 - 132 10/25/2030 AAA Aaa AAA
A-6 ** 31,000,000 Fixed NAS 6.40 37 - 130 10/25/2030 AAA Aaa AAA
A-7 ** 92,160,000 Floater PT 2.65 1 - 119 10/25/2030 AAA Aaa AAA
-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
TO 20% CALL:
EXPECTED Final
EXPECTED EXPECTED Principal Distribution EXPECTED Ratings
Approximate Interest Principal WAL (yrs) Window Date
Class Size* Type Type (mos)
S&P Moody's Fitch
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 ** 97,000,000 Fixed SEQ 0.91 1 - 19 08/25/2015 AAA Aaa AAA
A-2** 47,000,000 Fixed SEQ 2.03 19 - 30 12/25/2020 AAA Aaa AAA
A-3** 46,000,000 Fixed SEQ 3.05 30 - 44 09/25/2025 AAA Aaa AAA
A-4 ** 63,000,000 Fixed SEQ 5.06 44 - 71 05/25/2029 AAA Aaa AAA
A-5 ** 23,840,000 Fixed SEQ 5.94 71 - 71 10/25/2030 AAA Aaa AAA
A-6 ** 31,000,000 Fixed NAS 5.46 37 - 71 10/25/2030 AAA Aaa AAA
A-7 ** 92,160,000 Floater PT 2.44 1 - 71 10/25/2030 AAA Aaa AAA
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* The Approximate Size is subject to a permitted variance in the aggregate of
plus or minus 5%.
** Priced to call.
--------------------------------------------------------------------------------
STRUCTURE:
(1) The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-6
Certificates will be backed by Home Equity Loans in Group I. The Class A-7
Certificates will be backed by Home Equity Loans in Group II
(2) The MBIA insurance policy will provide an irrevocable and unconditional
financial guaranty of timely payment of interest and ultimate payment of
principal on all Classes.
(3) The [Class A-5 and Class A-6] Certificates may be subject to a Group I Net
WAC Cap.
(4) The Class A-7 Certificates are subject to the Available Funds Cap.
(5) After the Clean-up Call Date, the margin on the Class A-7 Certificates will
increase to 2 times the initial margin.
--------------------------------------------------------------------------------
PRICING SPEED:
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
<TABLE>
<S> <C>
--------------------------------------------------------------------------------
HOME EQUITY 115% PPC
LOAN GROUP I 100% PPC assumes that prepayments start at 4% CPR in
month one, increase by approximately 1.455% each
month to 20% CPR in month twelve, and remain at 20%
CPR thereafter.
HOME EQUITY 28% CPR
LOAN GROUP II
--------------------------------------------------------------------------------
</TABLE>
CONTACT: BANC OF AMERICA SECURITIES LLC
MORTGAGE TRADING/SYNDICATE (704)386-7744 (704) 335-5904 (Fax)
Chris Hentemann ([email protected])
Bill Hale ([email protected])
Alex Cha ([email protected])
David Nagle ([email protected])
MORTGAGE FINANCE (704) 388-9668(Fax)
Shahid Quraishi (704) 388-9399
([email protected])
Michael Schoffelen (704) 386-0932
([email protected])
Vikas Garg (704) 388-3681
([email protected])
Kirk Meyers (704) 388-3148
([email protected])
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
SUMMARY OF TERMS
<TABLE>
<S> <C>
ISSUER: Centex Home Equity Loan Trust 2000-C
OFFERED CERTIFICATES: Group I Certificates
Group II Certificates
GROUP I CERTIFICATES: Class A-1 through A-6 certificates
GROUP II CERTIFICATES: Class A-7 certificates
DEPOSITOR: CHEC Funding, LLC
ORIGINATOR
AND SERVICER: Centex Home Equity Corporation
SELLERS: Centex Home Equity Corporation and CHEC Conduit
Funding, LLC
CERTIFICATE INSURER: MBIA Insurance Corporation
CERTIFICATE RATINGS: S&P, Moody's and Fitch
EXPECTED
SETTLEMENT DATE: September 15, 2000 through DTC, Euroclear and
Clearstream Banking
DISTRIBUTION DATE: 25th of each month, or the next succeeding Business
Day (First Distribution Date: October 25, 2000)
STATISTICAL
CALCULATION DATE: August 15, 2000
CUT-OFF DATE: September 1, 2000
DELAY DAYS: 24 days on Class A-1 through Class A-6 certificates
0 days on Class A-7 certificates
DAY COUNT: 30/360 on Class A-1 through Class A-6 certificates
Act/360 on Class A-7 certificates
INTEREST
ACCRUAL PERIOD: Accrues during the month preceding a Distribution
Date on Class A-1 through Class A-6 certificates
Accrues from the last Distribution Date (or the
Closing Date in the case of the first Distribution
Date) through the day preceding the current
Distribution Date on Class A-7 certificates
CLEAN-UP CALL;
AUCTION SALE;
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
ADDITIONAL PRINCIPAL
DISTRIBUTION: The clean-up call of the Trust is dependent on the
aggregate outstanding principal balance of the Group
I and Group II Home Equity Loans being reduced to
less than 20% of the aggregate outstanding principal
balance of the Group I and Group II Home Equity Loans
on the Cut-Off Date.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
If the clean-up call is not exercised on the first
date it could have been exercised, then on the next
distribution date the Trustee will begin an auction
process to sell the Home Equity Loans and other trust
assets. The Trustee must receive proceeds in an
amount equal to or greater than the aggregate unpaid
principal balance of the Offered certificates and all
accrued and unpaid interest thereon and other amounts
as described in the prospectus supplement, other than
LIBOR carryover. If the auction is not successful,
the Trustee will conduct another auction every third
month thereafter.
If the clean-up call is not exercised, then starting
on the third Distribution Date following the
Distribution Date upon which the deal becomes
eligible for call, all excess interest will be paid
to the certificates of the related home equity loan
group as an additional principal distribution amount
until the certificates are paid down.
SERVICING FEE: 0.50% of the aggregate Principal Balance of the Home
Equity Loans
DENOMINATION: $1,000 and multiples of $1 in excess thereof
SMMEA ELIGIBILITY: The Class A-1 through Class A-6 certificates are NOT
expected to be SMMEA eligible; the Class A-7
certificates ARE expected to be SMMEA eligible
ERISA ELIGIBILITY: The Certificates are expected to be ERISA eligible
TAX STATUS: REMIC for federal income tax purposes
MORTGAGE
LOAN POOL: HOME EQUITY LOAN GROUP I: Consists of all Home Equity
Loans which accrue interest at a fixed rate
HOME EQUITY LOAN GROUP II: Consists of all Home
Equity Loans which accrue interest at an adjustable
rate, including those loans which bear interest at a
fixed rate for two years before beginning to adjust
CREDIT ENHANCEMENT:
- MBIA Insurance Policy
- Excess Interest
- Overcollateralization will be built to
certain target levels set by MBIA; The
overcollateralization level may step-down
over time
- Cross-collateralization: Excess interest
from one loan group will be available to
fund interest shortfalls, cover losses and
build overcollateralization in the other
loan group, according to the priority
described in the Pooling and Servicing
Agreement
PRINCIPAL DISTRIBUTION:
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
- Class A-1 through Class A-6 Certificates are
paid down primarily with principal collected
on the Group I Loans: first the Class A-6 is
paid its Class A-6 Principal Distribution
Amount, then the Class A-1 through Class A-6
are paid sequentially
- Class A-7 Certificates are paid down
primarily with principal collected on the
Group II Loans
The CLASS A-6 PRINCIPAL DISTRIBUTION AMOUNT is equal
to the Class A-6 Lockout Percentage multiplied by its
pro-rata allocation of the Class A Principal
Distribution Amount for the Group I Certificates.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
The Class A-6 Lockout Percentage is equal to the
following:
<CAPTION>
Month Class A-6 Lockout Percentage
----- ----------------------------
<S> <C>
October 2000 to September 2003 0%
October 2003 to September 2005 45%
October 2005 to September 2006 80%
October 2006 to September 2007 100%
October 2007 and thereafter 300%
<CAPTION>
<S> <C>
CLASS A-1 THROUGH
CLASS A-6 INTEREST:
- Interest accrues on each class at a fixed
pass-through rate.
- The [Class A-5 and Class A-6] certificates
may be subject to an interest rate cap equal
to the Group I Net WAC Cap (Group I Home
Equity Loan weighted average loan rate less
the servicing fee, trustee fee, and
insurance policy premium).
CLASS A-7 INTEREST
- The Class A-7 Pass-Through Rate adjusts
monthly and is equal to the lesser of (a) 1
month LIBOR PLUS the applicable margin and
(b) the Class A-7 Available Funds Cap
- The Class A-7 Available Funds Cap is a rate
with a numerator equal to the product of i)
the weighted average Loan Rate of the Group
II Home Equity Loans less the Servicing Fee,
Trustee Fee and the Surety Premium and ii)
the aggregate loan balance of the Home
Equity Loans in Group II, and a denominator
equal to the outstanding balance of the
Class A-7 Certificates
- The margin on the Class A-7 Certificates
will double if the Clean-up Call is not
exercised on the first possible Distribution
Date
- The LIBOR Carryover feature pays any unpaid
Class A-7 interest from prior Distribution
Dates, due to the application of the
respective Available Funds Cap, on future
Distribution Dates (with accrued interest
thereon) to the extent funds are available;
The payment of any such amount is not rated
by S&P, Moody's, or Fitch or guaranteed by
MBIA
DELINQUENCY
ADVANCES: The Servicer:
1. Advances the unpaid interest to the
trust out of its own funds or out
of collections on the Home Equity
Loans that are not required to be
distributed on the related
distribution date
2. Has rights to reimbursement from
the related Home Equity Loans, and
if the advance is a non recoverable
advance, from collections on all
the Home Equity Loans. Also
entitled to any amounts remaining
from collections on the related
Home Equity Loan group after making
distributions on the related
Distribution Date
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
SERVICER
ADVANCES: The Servicer:
1. Pays all out-of-pocket expenses to
service these Home Equity Loans in
connection with any related
foreclosure or liquidation
2. Has rights to reimbursement limited
to liquidation proceeds realized
upon the liquidation of the related
Home Equity Loan and from any
amounts remaining from collections
on the related Home Equity Loan
group after making distributions on
the related Distribution Date
COMPENSATING
INTEREST: The Servicer:
1. Will be required to remit any
interest shortfalls due to the
receipt of less than 30 days of
accrued interest with a full
prepayment
2. Has rights to reimbursement from
all Home Equity Loans of the
related Home Equity Loan group to
the extent funds are available
after making other required
distributions on the related
Distribution Date
THIS LIABILITY IS CAPPED AT THE RELATED
PERIOD'S SERVICING FEE
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
<TABLE>
<CAPTION>
SUMMARY
TOTAL MINIMUM MAXIMUM
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Calculation Date Aggregate Principal Balance $261,875,398
Number of Loans 4,291
Average Original Loan Balance $61,085 $6,000 $375,534
Average Current Loan Balance $61,029 $5,839 $375,367
Weighted Average Combined Original LTV 79.54% 11.55% 99.99%
Weighted Average Second Mortgage Ratio 30.31% 5.26% 98.06%
Weighted Average Gross Coupon 11.883% 6.800% 18.600%
Weighted Average Remaining Term to Maturity (months) 304 57 360
Weighted Average Original Term (months) 305 60 360
Weighted Average Debt to Income Ratio 39.00%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
PERCENT OF STATISTICAL
CALCULATION DATE
RANGE OF MONTHS PRINCIPAL BALANCE
--------------- -----------------
<S> <C> <C>
Range of Original Terms (in months) 0 to 180 23.49%
181 to 240 7.80%
241 to 360 68.71%
Fully Amortizing Mortgage Loans 90.49%
Balloon Mortgage Loans 9.51%
Lien Position First 92.50%
Second 7.50%
Property Type Single Family 89.86%
PUD 4.83%
Two- to Four-Family 2.70%
Manufactured 1.16%
Occupancy Status Owner Occupied 96.37%
Investment 3.32%
Geographic Distribution Texas 15.63%
North Carolina 5.61%
Florida 5.41%
Tennessee 4.91%
Ohio 4.07%
Other 64.37%
Largest Zip Code Concentration 80015 0.25%
Credit Level* A+ 4.77%
A-1 25.14%
A-2 36.63%
B 17.30%
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
C-1 10.15%
C-2 3.88%
D 2.13%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*Credit Level stratification above is based upon CHEC's Underwriting
Guidelines and criteria.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
STATE OR TERRITORY DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
STATE OR TERRITORY HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Texas 747 $40,934,741.50 15.63%
North Carolina 222 14,679,985.25 5.61
Florida 195 14,177,371.62 5.41
Tennessee 192 12,850,010.06 4.91
Ohio 158 10,663,585.19 4.07
Missouri 187 10,570,017.77 4.04
Georgia 117 9,550,804.74 3.65
Louisiana 171 9,417,202.18 3.60
Michigan 156 8,868,736.52 3.39
Pennsylvania 183 8,795,274.49 3.36
New York 134 8,665,680.62 3.31
Mississippi 159 8,092,352.39 3.09
Arizona 110 7,959,503.55 3.04
Colorado 92 7,531,387.93 2.88
New Jersey 66 5,732,567.11 2.19
Wisconsin 96 5,624,704.11 2.15
South Carolina 88 5,425,238.70 2.07
Illinois 100 5,204,480.64 1.99
Oklahoma 113 5,165,802.36 1.97
Indiana 83 5,036,422.29 1.92
Arkansas 93 4,781,083.89 1.83
Kentucky 74 4,562,412.23 1.74
Virginia 70 4,366,287.83 1.67
California 50 4,255,653.13 1.63
Minnesota 64 4,195,618.59 1.60
Iowa 87 4,095,199.96 1.56
Nebraska 66 3,558,582.13 1.36
Connecticut 42 3,470,916.85 1.33
Washington 56 3,357,395.54 1.28
Massachusetts 55 3,183,200.16 1.22
Kansas 68 3,068,671.93 1.17
New Mexico 38 2,540,823.50 0.97
Oregon 27 2,101,971.85 0.80
Maine 22 1,829,785.37 0.70
New Hampshire 18 1,388,379.20 0.53
Maryland 17 1,284,517.33 0.49
Utah 14 992,589.01 0.38
Rhode Island 13 750,475.49 0.29
Idaho 9 591,739.31 0.23
West Virginia 10 497,224.04 0.19
Delaware 6 404,652.81 0.15
Nevada 6 401,437.83 0.15
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
District of Columbia 5 365,484.14 0.14
Vermont 3 253,500.00 0.10
Montana 4 238,072.06 0.09
South Dakota 2 204,808.12 0.08
Wyoming 3 189,046.31 0.07
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS (1)
<TABLE>
<CAPTION>
RANGE OF ORIGINAL STATISTICAL % OF STATISTICAL
COMBINED LOAN NUMBER OF CALCULATION CALCULATION
TO VALUE RATIOS (%) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
10.01 - 15.00 6 $126,822.40 0.05%
15.01 - 20.00 17 407,116.15 0.16
20.01 - 25.00 15 319,122.17 0.12
25.01 - 30.00 27 798,460.97 0.30
30.01 - 35.00 37 1,269,282.57 0.48
35.01 - 40.00 53 1,712,532.77 0.65
40.01 - 45.00 50 2,021,136.00 0.77
45.01 - 50.00 89 3,410,038.18 1.30
50.01 - 55.00 97 3,808,995.08 1.45
55.01 - 60.00 136 6,107,055.14 2.33
60.01 - 65.00 168 6,737,882.31 2.57
65.01 - 70.00 284 15,985,995.49 6.10
70.01 - 75.00 483 25,966,630.69 9.92
75.01 - 80.00 1,003 60,321,980.23 23.03
80.01 - 85.00 834 54,641,241.01 20.87
85.01 - 90.00 737 59,768,662.02 22.82
90.01 - 95.00 166 12,505,604.15 4.78
95.01 - 100.00 89 5,966,840.30 2.28
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
==========================================================================================================
</TABLE>
(1) As of the Statistical Calculation Date, the weighted
average Original Combined Loan-to-Value of the fixed rate Home
Equity Loans is approximately 79.54%.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
MORTGAGE RATES (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
RANGE OF NUMBER OF CALCULATION CALCULATION
COUPON RATES (%) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
6.501 - 7.000 1 $182,744.05 0.07%
7.001 - 7.500 1 32,000.00 0.01
7.501 - 8.000 3 231,188.54 0.09
8.001 - 8.500 19 1,869,215.32 0.71
8.501 - 9.000 87 7,076,179.86 2.70
9.001 - 9.500 80 6,523,033.34 2.49
9.501 - 10.000 209 16,696,676.92 6.38
10.001 - 10.500 200 15,691,417.44 5.99
10.501 - 11.000 461 35,039,429.38 13.38
11.001 - 11.500 324 23,388,450.05 8.93
11.501 - 12.000 622 42,759,657.03 16.33
12.001 - 12.500 417 27,522,318.54 10.51
12.501 - 13.000 639 35,042,253.18 13.38
13.001 - 13.500 334 15,907,225.64 6.07
13.501 - 14.000 361 15,512,660.59 5.92
14.001 - 14.500 198 7,868,998.46 3.00
14.501 - 15.000 186 6,316,442.53 2.41
15.001 - 15.500 62 2,000,256.61 0.76
15.501 - 16.000 38 1,127,707.29 0.43
16.001 - 16.500 28 677,073.90 0.26
16.501 - 17.000 13 281,808.01 0.11
17.001 - 17.500 5 81,478.22 0.03
17.501 - 18.000 1 11,073.01 0.00
18.001 - 18.500 1 20,000.00 0.01
18.501 - 19.000 1 16,109.72 0.01
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Mortgage Rate of the fixed rate Home Equity Loans is approximately
11.883%.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
CURRENT MORTGAGE LOAN PRINCIPAL BALANCE (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
RANGE OF NUMBER OF CALCULATION CALCULATION
LOAN BALANCES ($) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
5,000.01 - 10,000.00 22 $204,569.86 0.08%
10,000.01 - 15,000.00 151 1,968,803.01 0.75
15,000.01 - 20,000.00 219 3,923,712.38 1.50
20,000.01 - 25,000.00 257 5,871,162.33 2.24
25,000.01 - 30,000.00 335 9,276,404.16 3.54
30,000.01 - 35,000.00 280 9,155,663.88 3.50
35,000.01 - 40,000.00 359 13,587,965.45 5.19
40,000.01 - 45,000.00 266 11,363,875.87 4.34
45,000.01 - 50,000.00 273 13,019,216.63 4.97
50,000.01 - 55,000.00 258 13,555,651.35 5.18
55,000.01 - 60,000.00 273 15,785,364.37 6.03
60,000.01 - 65,000.00 210 13,169,133.60 5.03
65,000.01 - 70,000.00 162 10,938,659.28 4.18
70,000.01 - 75,000.00 128 9,289,137.45 3.55
75,000.01 - 80,000.00 130 10,111,143.82 3.86
80,000.01 - 85,000.00 112 9,254,256.20 3.53
85,000.01 - 90,000.00 88 7,705,322.47 2.94
90,000.01 - 95,000.00 83 7,689,152.92 2.94
95,000.01 - 100,000.00 79 7,734,759.39 2.95
100,000.01 - 105,000.00 60 6,169,075.27 2.36
105,000.01 - 110,000.00 67 7,199,494.57 2.75
110,000.01 - 115,000.00 56 6,292,086.29 2.40
115,000.01 - 120,000.00 41 4,827,213.07 1.84
120,000.01 - 125,000.00 33 4,048,189.80 1.55
125,000.01 - 130,000.00 43 5,468,211.23 2.09
130,000.01 - 135,000.00 31 4,118,906.59 1.57
135,000.01 - 140,000.00 35 4,825,230.52 1.84
140,000.01 - 145,000.00 31 4,425,159.56 1.69
145,000.01 - 150,000.00 16 2,365,161.65 0.90
150,000.01 - 200,000.00 117 19,927,838.54 7.61
200,000.01 - 250,000.00 53 11,875,200.85 4.53
250,000.01 - 300,000.00 15 4,044,522.12 1.54
300,000.01 - 350,000.00 5 1,577,479.14 0.60
350,000.01 - 400,000.00 3 1,107,674.01 0.42
------------------------------------------------------------------------
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the average outstanding
principal balance of the fixed rate Home Equity Loans is approximately
$61,029.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
TYPE OF MORTGAGE PROPERTIES
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
PROPERTY TYPE HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Single Family 3,926 $235,315,326.82 89.86%
PUD 119 12,658,809.55 4.83
Two- to Four-Family 117 7,074,225.35 2.70
Manufactured Housing 58 3,043,173.21 1.16
Condominium 42 2,174,792.59 0.83
Townhouse 29 1,609,070.11 0.61
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
ORIGINAL TERM TO MATURITY (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
ORIGINAL TERM NUMBER OF CALCULATION CALCULATION
TO MATURITY (MONTHS) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
0 - 60 34 $656,998.08 0.25%
61 - 120 291 8,898,614.49 3.40
121 - 180 1,056 51,971,311.77 19.85
181 - 240 407 20,422,260.54 7.80
241 - 300 46 2,717,381.88 1.04
301 - 360 2,457 177,208,830.87 67.67
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Original Term of the fixed rate Home Equity Loans is approximately 305
months.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
REMAINING TERM TO MATURITY (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
REMAINING TERM NUMBER OF CALCULATION CALCULATION
TO MATURITY (MONTHS) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
0 - 60 34 $656,998.08 0.25%
61 - 120 291 8,898,614.49 3.40
121 - 180 1,056 51,971,311.77 19.85
181 - 240 407 20,422,260.54 7.80
241 - 300 46 2,717,381.88 1.04
301 - 360 2,457 177,208,830.87 67.67
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Remaining Term of the fixed rate Home Equity Loans is approximately 304
months.
SEASONING (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
SEASONING (MONTHS) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
0 1,937 $120,945,807.11 46.18%
1 - 6 2,331 139,495,798.39 53.27
7 - 12 13 833,653.15 0.32
13 - 18 4 284,016.55 0.11
19 - 24 3 193,242.42 0.07
25 - 30 1 34,714.09 0.01
31 - 42 2 88,165.92 0.03
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Seasoning of the fixed rate Home Equity Loans is approximately 1 month.
OCCUPANCY TYPES
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
OCCUPANCY STATUS HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Primary Home 4,070 $252,363,842.22 96.37%
Investment Property 204 8,686,021.95 3.32
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Second Home 17 825,533.46 0.32
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
LIEN POSITION
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
LIEN POSITION HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
1st Lien 3,638 $242,227,182.91 92.50%
2nd Lien 653 19,648,214.72 7.50
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
DOCUMENTATION OF MORTGAGE LOANS
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
DOCUMENTATION TYPE HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Full Documentation 3,878 $232,739,647.31 88.87%
Stated Income 287 18,315,576.10 6.99
Limited Documentation 126 10,820,174.22 4.13
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
CREDIT GRADE
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
CREDIT GRADE HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
A+ 198 $12,501,613.65 4.77%
A-1 974 65,829,026.30 25.14
A-2 1,492 95,932,000.73 36.63
B 778 45,293,171.30 17.30
C-1 534 26,579,853.09 10.15
C-2 195 10,155,331.48 3.88
D 120 5,584,401.08 2.13
------------------------------------------------------------------------
TOTAL 4,291 $261,875,397.63 100.00%
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
FIXED RATE HOME EQUITY LOAN GROUP I
RANGE OF SECOND MORTGAGE RATIOS (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
RANGE OF SECOND NUMBER OF CALCULATION CALCULATION
MORTGAGE RATES (%) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Less than or equal to 10.00 21 $312,492.18 1.59%
10.01 - 15.00 82 1,626,392.45 8.28
15.01 - 20.00 137 3,130,809.54 15.93
20.01 - 25.00 119 3,264,846.49 16.62
25.01 - 30.00 96 3,343,021.06 17.01
30.01 - 35.00 67 2,144,618.52 10.92
35.01 - 40.00 46 1,638,555.36 8.34
40.01 - 45.00 31 1,344,608.33 6.84
45.01 - 50.00 21 1,009,774.59 5.14
50.01 - 55.00 14 774,698.97 3.94
55.01 - 60.00 5 124,568.80 0.63
60.01 - 65.00 5 197,814.00 1.01
65.01 - 70.00 5 583,146.82 2.97
70.01 - 75.00 1 26,454.23 0.13
75.01 - 80.00 1 43,961.17 0.22
90.01 - 95.00 1 24,795.21 0.13
95.01 - 100.00 1 57,657.00 0.29
------------------------------------------------------------------------
TOTAL 653 $19,648,214.72 100.00%
==========================================================================================================
</TABLE>
(1) Applies only to the Home Equity Loans in the second lien
position. The Second Mortgage Ratios shown above are equal to,
with respect to each Home Equity Loan in the second lien
position, the original principal balance of the Home Equity
Loan at the date of origination divided by the sum of (a) the
original principal balance of the Home Equity Loan at the date
of origination and (b) the remaining principal balance of the
senior lien on the related Mortgaged Property at the date of
origination of the Home Equity Loan.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
SUMMARY
<TABLE>
<CAPTION>
TOTAL MINIMUM MAXIMUM
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Calculation Date Aggregate Principal Balance $78,419,807
Number of Loans 795
Average Original Loan Balance $98,678 $12,473 $477,500
Average Current Loan Balance $98,641 $12,473 $477,225
Weighted Average Combined Original LTV 82.83% 15.44% 99.98%
Weighted Average Gross Coupon 11.339% 7.250% 15.600%
Weighted Average Remaining Term to Maturity (months) 359 180 360
Weighted Average Original Term (months) 359 180 360
Weighted Average Gross Margin 5.862% 1.150% 10.900%
Weighted Average Gross Lifetime Cap 18.316% 14.250% 22.600%
Weighted Average Periodic Cap 1.000% 1.000% 1.000%
Weighted Average Debt to Income Ratio 41.61%
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
PERCENT OF STATISTICAL
CALCULATION DATE
PRINCIPAL BALANCE
<S> <C> <C>
Original Term (in months) 360 99.57%
2/28 Arms 84.72%
6 Month Arms 15.28%
Index 6 Month LIBOR 100.00%
Lien Position First 100.00%
Property Type Single Family 86.43%
PUD 8.21%
Two- to Four-Family 3.18%
Manufactured 0.93%
Occupancy Status Owner Occupied 98.38%
Investment 1.27%
Geographic Distribution California 15.76%
Ohio 10.60%
Arizona 8.13%
North Carolina 5.69%
Georgia 5.61%
Other 54.20%
Largest Zip Code Concentration 34759 1.01%
Credit Level* A+ 0.77%
A-1 15.69%
A-2 46.34%
B 21.64%
C-1 10.25%
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
C-2 5.03%
D 0.28%
-------------------------------------------------------------------------------------------------------------------------------
* Credit Level stratification above is based upon CHEC's Underwriting
Guidelines and criteria.
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
STATE OR TERRITORY DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
STATE OR TERRITORY HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
California 77 $12,362,603.26 15.76%
Ohio 98 8,312,151.97 10.60
Arizona 61 6,374,036.18 8.13
North Carolina 54 4,462,470.60 5.69
Georgia 39 4,402,503.42 5.61
Florida 46 4,033,356.69 5.14
Washington 25 3,428,431.49 4.37
Texas 27 2,654,345.36 3.38
Wisconsin 23 2,262,951.94 2.89
Tennessee 24 2,190,485.21 2.79
Pennsylvania 36 2,155,142.82 2.75
Michigan 29 2,006,814.60 2.56
New York 21 1,845,566.35 2.35
Nevada 13 1,701,128.63 2.17
Utah 13 1,698,323.97 2.17
New Jersey 11 1,674,640.09 2.14
Illinois 21 1,561,264.94 1.99
Kentucky 16 1,486,293.82 1.90
South Carolina 18 1,306,042.76 1.67
Colorado 8 1,171,910.66 1.49
Massachusetts 7 1,170,300.73 1.49
Oregon 10 1,153,088.54 1.47
Missouri 16 983,491.70 1.25
Indiana 15 931,324.44 1.19
Minnesota 9 903,918.67 1.15
Virginia 7 820,019.39 1.05
Louisiana 8 796,462.56 1.02
Mississippi 12 645,540.29 0.82
New Mexico 5 635,058.48 0.81
Connecticut 5 529,836.09 0.68
Idaho 5 446,387.64 0.57
Maine 7 408,711.11 0.52
Maryland 3 302,584.86 0.39
Iowa 5 268,735.41 0.34
Oklahoma 6 244,145.91 0.31
Kansas 4 237,745.77 0.30
West Virginia 3 187,978.46 0.24
District of Columbia 1 179,200.00 0.23
Arkansas 3 173,538.20 0.22
New Hampshire 1 111,573.60 0.14
Wyoming 2 103,549.89 0.13
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Nebraska 1 96,150.00 0.12
------------------------------------------------------------------------
TOTAL 795 $ 78,419,806.50 100.00%
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS (1)
<TABLE>
<CAPTION>
RANGE OF STATISTICAL % OF STATISTICAL
ORIGINAL COMBINED NUMBER OF CALCULATION CALCULATION
LOAN TO VALUE RATIOS (%) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
15.01 - 20.00 1 $23,000.00 0.03%
20.01 - 25.00 1 21,741.06 0.03
25.01 - 30.00 2 32,472.87 0.04
30.01 - 35.00 5 280,139.93 0.36
35.01 - 40.00 1 84,975.62 0.11
40.01 - 45.00 4 164,177.63 0.21
45.01 - 50.00 5 173,851.56 0.22
50.01 - 55.00 3 181,961.81 0.23
55.01 - 60.00 13 1,011,207.53 1.29
60.01 - 65.00 16 1,697,497.94 2.16
65.01 - 70.00 32 2,680,542.60 3.42
70.01 - 75.00 57 6,332,673.23 8.08
75.01 - 80.00 182 16,126,110.27 20.56
80.01 - 85.00 193 17,929,867.64 22.86
85.01 - 90.00 227 27,067,311.21 34.52
90.01 - 95.00 42 3,820,717.93 4.87
95.01 - 100.00 11 791,557.67 1.01
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
==========================================================================================================
</TABLE>
(1) As of the Statistical Calculation Date, the weighted
average Original Combined Loan-to-Value of the adjustable rate
Home Equity Loans is approximately 82.83%.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
MORTGAGE RATES (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
RANGE OF NUMBER OF CALCULATION CALCULATION
COUPON RATES (%) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
7.001 - 7.500 1 $110,463.76 0.14%
7.501 - 8.000 1 203,407.14 0.26
8.001 - 8.500 1 74,272.35 0.09
8.501 - 9.000 18 2,442,231.86 3.11
9.001 - 9.500 13 1,929,538.88 2.46
9.501 - 10.000 57 6,464,507.80 8.24
10.001 - 10.500 58 6,861,839.97 8.75
10.501 - 11.000 145 14,958,000.62 19.07
11.001 - 11.500 112 10,896,955.24 13.90
11.501 - 12.000 173 16,855,644.24 21.49
12.001 - 12.500 91 7,768,876.12 9.91
12.501 - 13.000 75 5,889,623.07 7.51
13.001 - 13.500 23 2,282,915.51 2.91
13.501 - 14.000 18 1,313,610.59 1.68
14.001 - 14.500 6 298,709.70 0.38
14.501 - 15.000 2 54,214.65 0.07
15.501 - 16.000 1 14,995.00 0.02
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Mortgage Rate of the adjustable rate Home Equity Loans is approximately
11.339%.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
CURRENT MORTGAGE LOAN PRINCIPAL BALANCE (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
RANGE OF NUMBER OF CALCULATION CALCULATION
LOAN BALANCES ($) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
10,000.01 - 15,000.00 4 $52,900.94 0.07%
15,000.01 - 20,000.00 3 58,437.63 0.07
20,000.01 - 25,000.00 11 253,984.20 0.32
25,000.01 - 30,000.00 16 454,536.88 0.58
30,000.01 - 35,000.00 19 614,552.00 0.78
35,000.01 - 40,000.00 17 646,759.21 0.82
40,000.01 - 45,000.00 27 1,151,288.58 1.47
45,000.01 - 50,000.00 29 1,363,069.88 1.74
50,000.01 - 55,000.00 38 2,003,191.43 2.55
55,000.01 - 60,000.00 46 2,663,377.01 3.40
60,000.01 - 65,000.00 40 2,518,800.68 3.21
65,000.01 - 70,000.00 44 2,972,507.15 3.79
70,000.01 - 75,000.00 36 2,615,985.27 3.34
75,000.01 - 80,000.00 35 2,716,236.44 3.46
80,000.01 - 85,000.00 32 2,639,651.62 3.37
85,000.01 - 90,000.00 33 2,879,328.71 3.67
90,000.01 - 95,000.00 24 2,223,671.29 2.84
95,000.01 - 100,000.00 38 3,693,199.52 4.71
100,000.01 - 105,000.00 35 3,587,038.58 4.57
105,000.01 - 110,000.00 27 2,914,938.70 3.72
110,000.01 - 115,000.00 21 2,361,859.42 3.01
115,000.01 - 120,000.00 20 2,346,252.20 2.99
120,000.01 - 125,000.00 11 1,351,213.59 1.72
125,000.01 - 130,000.00 17 2,162,156.80 2.76
130,000.01 - 135,000.00 20 2,661,438.78 3.39
135,000.01 - 140,000.00 10 1,372,384.69 1.75
140,000.01 - 145,000.00 13 1,853,840.73 2.36
145,000.01 - 150,000.00 6 888,521.51 1.13
150,000.01 - 200,000.00 75 12,969,337.16 16.54
200,000.01 - 250,000.00 26 5,742,003.74 7.32
250,000.01 - 300,000.00 14 3,831,630.64 4.89
300,000.01 - 350,000.00 6 1,981,077.87 2.53
350,000.01 - 400,000.00 1 397,408.90 0.51
450,000.01 - 500,000.00 1 477,224.75 0.61
------------------------------------------------------------------------
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the average outstanding
principal balance of the adjustable rate Home Equity Loans is
approximately $98,641.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
TYPE OF MORTGAGE PROPERTIES
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
PROPERTY TYPE HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Single Family 696 $67,777,694.43 86.43%
PUD 45 6,436,151.95 8.21
Two- to Four-Family 28 2,491,567.31 3.18
Manufactured Housing 11 727,189.75 0.93
Condominium 7 510,000.29 0.65
Townhouse 8 477,202.77 0.61
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
ORIGINAL TERM TO MATURITY (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
ORIGINAL TERM NUMBER OF CALCULATION CALCULATION
TO MATURITY (MONTHS) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
121 - 180 1 $67,696.77 0.09%
181 - 240 3 271,255.89 0.35
301 - 360 791 78,080,853.84 99.57
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Original Term of the adjustable rate Home Equity Loans is approximately
359 months.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
REMAINING TERM TO MATURITY (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
REMAINING TERM NUMBER OF CALCULATION CALCULATION
TO MATURITY (MONTHS) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
121 - 180 1 $67,696.77 0.09%
181 - 240 3 271,255.89 0.35
301 - 360 791 78,080,853.84 99.57
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Remaining Term of the adjustable rate Home Equity Loans is
approximately 359 months.
SEASONING (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
SEASONING (MONTHS) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
0 327 $30,892,433.51 39.39%
1 - 6 467 47,468,026.02 60.53
7 - 12 1 59,346.97 0.08
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Seasoning of the adjustable rate Home Equity Loans is approximately 1
month.
OCCUPANCY TYPES
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
OCCUPANCY STATUS HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Primary Home 774 $77,152,113.86 98.38%
Investment Property 18 996,214.89 1.27
Second Home 3 271,477.75 0.35
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
DOCUMENTATION OF MORTGAGE LOANS
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
DOCUMENTATION TYPE HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Full Documentation 713 $67,142,849.42 85.62%
Stated Income 56 7,206,227.93 9.19
Limited Documentation 26 4,070,729.15 5.19
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
CREDIT GRADE
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NUMBER OF CALCULATION CALCULATION
CREDIT GRADE HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
A+ 4 $602,944.34 0.77%
A-1 100 12,306,106.47 15.69
A-2 341 36,337,514.80 46.34
B 194 16,968,507.88 21.64
C-1 108 8,039,948.57 10.25
C-2 46 3,945,967.55 5.03
D 2 218,816.89 0.28
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
MARGIN (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
RANGE OF NUMBER OF CALCULATION CALCULATION
GROSS MARGIN (%) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
1.001 - 1.500 1 $110,463.76 0.14%
2.501 - 3.000 7 692,777.71 0.88
3.001 - 3.500 5 582,455.62 0.74
3.501 - 4.000 21 2,223,871.25 2.84
4.001 - 4.500 41 4,833,876.92 6.16
4.501 - 5.000 81 8,191,828.20 10.45
5.001 - 5.500 109 10,712,904.04 13.66
5.501 - 6.000 153 15,374,532.81 19.61
6.001 - 6.500 162 16,218,786.01 20.68
6.501 - 7.000 95 8,802,608.71 11.22
7.001 - 7.500 56 4,959,240.44 6.32
7.501 - 8.000 37 3,848,138.35 4.91
8.001 - 8.500 16 1,301,510.87 1.66
8.501 - 9.000 5 337,579.56 0.43
9.001 - 9.500 4 195,343.36 0.25
9.501 - 10.000 1 18,893.89 0.02
10.501 - 11.000 1 14,995.00 0.02
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average Margin
of the adjustable rate Home Equity Loans is approximately 5.862%.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE HOME EQUITY LOAN GROUP II
MAXIMUM RATES (1)
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
RANGE OF NUMBER OF CALCULATION CALCULATION
MAXIMUM RATES (%) HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
14.001 - 14.500 1 $110,463.76 0.14%
14.501 - 15.000 2 273,728.81 0.35
15.001 - 15.500 1 74,272.35 0.09
15.501 - 16.000 17 2,371,910.19 3.02
16.001 - 16.500 16 2,274,801.56 2.90
16.501 - 17.000 60 6,758,737.70 8.62
17.001 - 17.500 57 6,991,276.41 8.92
17.501 - 18.000 148 15,163,856.72 19.34
18.001 - 18.500 111 10,477,456.12 13.36
18.501 - 19.000 168 16,406,546.31 20.92
19.001 - 19.500 90 7,713,676.12 9.84
19.501 - 20.000 74 5,838,635.00 7.45
20.001 - 20.500 23 2,282,915.51 2.91
20.501 - 21.000 18 1,313,610.59 1.68
21.001 - 21.500 6 298,709.70 0.38
21.501 - 22.000 2 54,214.65 0.07
22.501 - 23.000 1 14,995.00 0.02
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
(1) As of the Statistical Calculation Date, the weighted average
Maximum Rate of the adjustable rate Home Equity Loans is approximately
18.316%
NEXT ADJUSTMENT DATE
<TABLE>
<CAPTION>
STATISTICAL % OF STATISTICAL
NEXT INTEREST NUMBER OF CALCULATION CALCULATION
ADJUSTMENT DATE HOME EQUITY LOANS DATE LOAN BALANCE DATE LOAN BALANCE
<S> <C> <C> <C>
Dec-00 33 $4,142,152.78 5.28%
Jan-01 46 4,804,031.31 6.13
Feb-01 33 3,038,004.02 3.87
Jan-02 3 331,955.99 0.42
Feb-02 1 32,334.61 0.04
Mar-02 3 344,765.63 0.44
Apr-02 2 256,464.14 0.33
May-02 17 1,813,790.42 2.31
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
Jun-02 195 19,027,950.51 24.26
Jul-02 258 25,449,422.55 32.45
Aug-02 204 19,178,934.54 24.46
------------------------------------------------------------------------
TOTAL 795 $78,419,806.50 100.00%
</TABLE>
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
BOND SUMMARY (TO MATURITY)
PREPAYMENT SCENARIOS
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
I II III IV V VI VII
Fixed Rate - PPC 50% 75% 100% 115% 150% 200% 250%
Adjustable Rate - CPR 12% 18% 24% 28% 36% 50% 60%
A-1 (TO MATURITY)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 1.57 1.19 0.99 0.91 0.77 0.66 0.58
Modified Duration (yrs.)* 1.41 1.09 0.92 0.84 0.73 0.62 0.55
First Principal Payment Date 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000
Last Principal Payment Date 11/25/2003 12/25/2002 06/25/2002 04/25/2002 12/25/2001 10/25/2001 08/25/2001
Payment Windows (mos.) 38 27 21 19 15 13 11
A-2 (TO MATURITY)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 4.23 2.95 2.29 2.03 1.63 1.29 1.10
Modified Duration (yrs.)* 3.51 2.56 2.04 1.83 1.48 1.19 1.02
First Principal Payment Date 11/25/2003 12/25/2002 06/25/2002 04/25/2002 12/25/2001 10/25/2001 08/25/2001
Last Principal Payment Date 01/25/2006 05/25/2004 07/25/2003 03/25/2003 08/25/2002 03/25/2002 12/25/2001
Payment Windows (mos.) 27 18 14 12 9 6 5
A-3 (TO MATURITY)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 7.03 4.65 3.50 3.05 2.36 1.80 1.47
Modified Duration (yrs.)* 5.26 3.79 2.97 2.63 2.09 1.63 1.35
First Principal Payment Date 01/25/2006 05/25/2004 07/25/2003 03/25/2003 08/25/2002 03/25/2002 12/25/2001
Last Principal Payment Date 12/25/2009 06/25/2006 12/25/2004 05/25/2004 07/25/2003 10/25/2002 05/25/2002
Payment Windows (mos.) 48 26 18 15 12 8 6
A-4 (TO MATURITY)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 12.85 8.84 6.35 5.32 3.88 2.77 2.12
Modified Duration (yrs.)* 7.84 6.13 4.81 4.19 3.23 2.41 1.89
First Principal Payment Date 12/25/2009 06/25/2006 12/25/2004 05/25/2004 07/25/2003 10/25/2002 05/25/2002
Last Principal Payment Date 10/25/2016 12/25/2012 02/25/2010 10/25/2008 01/25/2006 05/25/2004 06/25/2003
Payment Windows (mos.) 83 79 63 54 31 20 14
* MODIFIED DURATION IS CALCULATED ASSUMING A PRICE OF PAR.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
PREPAYMENT SCENARIOS
I II III IV V VI VII
Fixed Rate - PPC 50% 75% 100% 115% 150% 200% 250%
Adjustable Rate - CPR 12% 18% 24% 28% 36% 50% 60%
A-5 (TO MATURITY)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 17.90 13.72 10.89 9.59 6.89 4.39 3.15
Modified Duration (yrs.)* 9.11 7.98 6.97 6.42 5.07 3.56 2.69
First Principal Payment Date 10/25/2016 12/25/2012 02/25/2010 10/25/2008 01/25/2006 05/25/2004 06/25/2003
Last Principal Payment Date 04/25/2020 08/25/2015 01/25/2013 09/25/2011 07/25/2009 05/25/2006 05/25/2004
Payment Windows (mos.) 43 33 36 36 43 25 12
A-6 (TO MATURITY)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 8.26 7.34 6.69 6.40 5.84 5.07 4.03
Modified Duration (yrs.)* 5.83 5.38 5.03 4.87 4.54 4.06 3.37
First Principal Payment Date 10/25/2003 10/25/2003 10/25/2003 10/25/2003 10/25/2003 10/25/2003 10/25/2003
Last Principal Payment Date 02/25/2020 08/25/2015 11/25/2012 07/25/2011 05/25/2009 06/25/2007 08/25/2005
Payment Windows (mos.) 197 143 110 94 68 45 23
A-7 (TO MATURITY)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 6.08 4.15 3.11 2.65 2.00 1.33 0.98
Modified Duration (yrs.)* 4.25 3.18 2.51 2.19 1.72 1.19 0.90
First Principal Payment Date 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000
Last Principal Payment Date 06/25/2019 10/25/2014 12/25/2011 08/25/2010 07/25/2008 06/25/2006 01/25/2004
Payment Windows (mos.) 225 169 135 119 94 69 40
</TABLE>
* MODIFIED DURATION IS CALCULATED ASSUMING A PRICE OF PAR.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
BOND SUMMARY (TO CALL)
PREPAYMENT SCENARIOS
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
I II III IV V VI VII
Fixed Rate - PPC 50% 75% 100% 115% 150% 200% 250%
Adjustable Rate - CPR 12% 18% 24% 28% 36% 50% 60%
A-1 (TO CALL)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 1.57 1.19 0.99 0.91 0.77 0.66 0.58
Modified Duration (yrs.)* 1.41 1.09 0.92 0.84 0.73 0.62 0.55
First Principal Payment Date 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000
Last Principal Payment Date 11/25/2003 12/25/2002 06/25/2002 04/25/2002 12/25/2001 10/25/2001 08/25/2001
Payment Windows (mos.) 38 27 21 19 15 13 11
A-2 (TO CALL)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 4.23 2.95 2.29 2.03 1.63 1.29 1.10
Modified Duration (yrs.)* 3.51 2.56 2.04 1.83 1.48 1.19 1.02
First Principal Payment Date 11/25/2003 12/25/2002 06/25/2002 04/25/2002 12/25/2001 10/25/2001 08/25/2001
Last Principal Payment Date 01/25/2006 05/25/2004 07/25/2003 03/25/2003 08/25/2002 03/25/2002 12/25/2001
Payment Windows (mos.) 27 18 14 12 9 6 5
A-3 (TO CALL)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 7.03 4.65 3.50 3.05 2.36 1.80 1.47
Modified Duration (yrs.)* 5.26 3.79 2.97 2.63 2.09 1.63 1.35
First Principal Payment Date 01/25/2006 05/25/2004 07/25/2003 03/25/2003 08/25/2002 03/25/2002 12/25/2001
Last Principal Payment Date 12/25/2009 06/25/2006 12/25/2004 05/25/2004 07/25/2003 10/25/2002 05/25/2002
Payment Windows (mos.) 48 26 18 15 12 8 6
A-4 (TO CALL)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 12.00 8.07 5.89 5.06 3.79 2.73 2.11
Modified Duration (yrs.)* 7.55 5.79 4.56 4.04 3.17 2.38 1.88
First Principal Payment Date 12/25/2009 06/25/2006 12/25/2004 05/25/2004 07/25/2003 10/25/2002 05/25/2002
Last Principal Payment Date 07/25/2013 09/25/2009 07/25/2007 08/25/2006 03/25/2005 12/25/2003 03/25/2003
Payment Windows (mos.) 44 40 32 28 21 15 11
* MODIFIED DURATION IS CALCULATED ASSUMING A PRICE OF PAR.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
PREPAYMENT SCENARIOS
I II III IV V VI VII
Fixed Rate - PPC 50% 75% 100% 115% 150% 200% 250%
Adjustable Rate - CPR 12% 18% 24% 28% 36% 50% 60%
A-5 (TO CALL)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 12.86 9.03 6.86 5.94 4.53 3.28 2.53
Modified Duration (yrs.)* 7.71 6.18 5.08 4.55 3.66 2.78 2.21
First Principal Payment Date 07/25/2013 09/25/2009 07/25/2007 08/25/2006 03/25/2005 12/25/2003 03/25/2003
Last Principal Payment Date 07/25/2013 09/25/2009 07/25/2007 08/25/2006 03/25/2005 12/25/2003 03/25/2003
Payment Windows (mos.) 1 1 1 1 1 1 1
A-6 (TO CALL)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 8.17 7.09 6.08 5.46 4.37 3.27 2.53
Modified Duration (yrs.)* 5.80 5.27 4.70 4.33 3.60 2.81 2.23
First Principal Payment Date 10/25/2003 10/25/2003 10/25/2003 10/25/2003 10/25/2003 10/25/2003 03/25/2003
Last Principal Payment Date 07/25/2013 09/25/2009 07/25/2007 08/25/2006 03/25/2005 12/25/2003 03/25/2003
Payment Windows (mos.) 118 72 46 35 18 3 1
A-7 (TO CALL)
---------------------------------------------------------------------------------------------------------------------------------
PREPAYMENT SCENARIO I II III IV V VI VII
---------------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 5.66 3.84 2.87 2.44 1.84 1.24 0.96
Modified Duration (yrs.)* 4.10 3.03 2.38 2.07 1.61 1.12 0.88
First Principal Payment Date 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000 10/25/2000
Last Principal Payment Date 07/25/2013 09/25/2009 07/25/2007 08/25/2006 03/25/2005 12/25/2003 03/25/2003
Payment Windows (mos.) 154 108 82 71 54 39 30
</TABLE>
* MODIFIED DURATION IS CALCULATED ASSUMING A PRICE OF PAR.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
<PAGE>
CLASS A-7 AVAILABLE FUNDS CAP
<TABLE>
<CAPTION>
---------------------------------------------
Pay Available* Available**
Period Date Funds Cap Funds Cap
---------------------------------------------
<S> <C> <C> <C>
1 10/25/00 N/A N/A
2 11/25/00 10.32 10.31
3 12/25/00 10.70 10.65
4 01/25/01 10.39 10.31
5 02/25/01 10.45 10.34
6 03/25/01 11.69 11.52
7 04/25/01 10.66 10.46
8 05/25/01 11.06 10.81
9 06/25/01 10.75 10.46
10 07/25/01 11.15 10.81
11 08/25/01 10.87 10.48
12 09/25/01 10.99 10.55
13 10/25/01 11.46 10.96
14 11/25/01 11.15 10.60
15 12/25/01 11.67 11.03
16 01/25/02 11.53 10.83
17 02/25/02 11.72 11.01
18 03/25/02 13.01 12.46
19 04/25/02 11.79 11.49
20 05/25/02 12.22 12.07
21 06/25/02 11.91 11.94
22 07/25/02 12.35 12.52
23 08/25/02 12.21 12.50
24 09/25/02 12.71 13.37
---------------------------------------------
<CAPTION>
---------------------------------------------
Pay Available* Available**
Period Date Funds Cap Funds Cap
---------------------------------------------
<S> <C> <C> <C>
25 10/25/02 13.58 14.69
26 11/25/02 13.19 14.27
27 12/25/02 13.70 14.83
28 01/25/03 13.31 14.41
29 02/25/03 13.37 14.66
30 03/25/03 14.86 16.81
31 04/25/03 13.48 15.69
32 05/25/03 13.65 15.89
33 06/25/03 13.21 15.40
34 07/25/03 13.65 15.91
35 08/25/03 13.21 15.59
36 09/25/03 13.21 16.04
37 10/25/03 13.65 17.02
38 11/25/03 13.21 16.47
39 12/25/03 13.65 17.05
40 01/25/04 13.21 16.50
41 02/25/04 13.21 16.69
42 03/25/04 14.12 18.32
43 04/25/04 13.21 17.57
44 05/25/04 13.65 18.16
45 06/25/04 13.21 17.60
46 07/25/04 13.65 18.19
47 08/25/04 13.21 17.76
48 09/25/04 13.21 18.13
---------------------------------------------
<CAPTION>
--------------------------------------------
Pay Available* Available**
Period Date Funds Cap Funds Cap
--------------------------------------------
<S> <C> <C> <C>
49 10/25/04 13.65 19.12
50 11/25/04 13.21 18.50
51 12/25/04 13.65 19.15
52 01/25/05 13.21 18.53
53 02/25/05 13.21 18.68
54 03/25/05 14.62 21.08
55 04/25/05 13.21 19.41
56 05/25/05 13.65 20.06
57 06/25/05 13.21 19.41
58 07/25/05 13.65 20.06
59 08/25/05 13.21 19.41
60 09/25/05 13.21 19.41
61 10/25/05 13.65 20.06
62 11/25/05 13.21 19.41
63 12/25/05 13.65 20.06
64 01/25/06 13.21 19.41
65 02/25/06 13.21 19.41
66 03/25/06 14.62 21.49
67 04/25/06 13.21 19.41
68 05/25/06 13.65 20.06
69 06/25/06 13.21 19.41
70 07/25/06 13.65 20.06
71 08/25/06 13.21 19.41
--------------------------------------------
</TABLE>
* Assumes 1 month LIBOR is 6.62% and 6 month LIBOR is 6.8125%.
** Assumes the 1month LIBOR and 6 month LIBOR instantaneously increase to a
level beyond the highest maximum obtainable rate on the adjustable rate mortgage
loans and run at the pricing speed to call.
BANC OF AMERICA SECURITIES LLC
--------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
