<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
New Issue Computational Materials
$278,968,000 (Approximate)
Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
EMC Mortgage Corporation
Seller and Master Servicer
November 21, 2000
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES,
AND OTHER INFORMATION
The information contained in the attached materials (the "Information") may
include various forms of performance analysis, security characteristics and
securities pricing estimates for the securities addressed. Please read and
understand this entire statement before utilizing the Information. Should you
receive Information that refers to the "Statement Regarding Assumptions and
Other Information," please refer to this statement instead.
The Information is illustrative and is not intended to predict actual results
which may differ substantially from those reflected in the Information.
Performance analysis is based on certain assumptions with respect to significant
factors that may prove not to be as assumed. You should understand the
assumptions and evaluate whether they are appropriate for your purposes.
Performance results are based on mathematical models that use inputs to
calculate results. As with all models, results may vary significantly depending
upon the value of the inputs given. Inputs to these models include but are not
limited to: prepayment expectations (economic prepayment models, single expected
lifetime prepayments or a vector of periodic prepayments), interest rate
assumptions (parallel and nonparallel changes for different maturity
instruments), collateral assumptions (actual pool level data, aggregated pool
level data, reported factors or imputed factors), volatility assumptions
(historically observed or implied current) and reported information (paydown
factors, rate resets, and trustee statements). Models used in any analysis may
be proprietary making the results difficult for any third party to reproduce.
Contact your registered representative for detailed explanations of any modeling
techniques employed in the Information.
The Information addresses only certain aspects of the applicable security's
characteristics and thus does not provide a complete assessment. As such, the
Information may not reflect the impact of all structural characteristics of the
security, including call events and cash flow priorities at all prepayment
speeds and/or interest rates. You should consider whether the behavior of these
securities should be tested as assumptions different from those included in the
Information. The assumptions underlying the Information, including structure and
collateral, may be modified from time to time to reflect changed circumstances.
Any investment decision should be based only on the data in the prospectus and
the prospectus supplement or private placement memorandum (Offering Documents)
and the then current version of the Information. Offering Documents contain data
that is current as of their publication dates and after publication may no
longer be complete or current. Contact your registered representative for
Offering Documents, current Information or additional materials, including other
models for performance analysis, which are likely to produce different results,
and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent
our view, at the time determined, of the investment value of the securities
between the estimated bid and offer levels, the spread between which may be
significant due to market volatility or illiquidity, (b) do not constitute a bid
by any person for any security, (c) may not constitute prices at which the
securities could have been purchased or sold in any market, (d) have not been
confirmed by actual trades, may vary from the value Bear Stearns assigns any
such security while in its inventory, and may not take into account the size of
a position you have in the security, and (e) may have been derived from matrix
pricing that uses data relating to other securities whose prices are more
readily ascertainable to produce a hypothetical price based on the estimated
yield spread relationship between the securities.
General Information: The data underlying the Information has been obtained from
sources that we believe are reliable, but we do not guarantee the accuracy of
the underlying data or computations based thereon. Bear Stearns. and/or
individuals thereof may have positions in these securities while the Information
is circulating or during such period may engage in transactions with the issuer
or its affiliates. We act as principal in transactions with you, and
accordingly, you must determine the appropriateness for you of such transactions
and address any legal, tax, or accounting considerations applicable to you. Bear
Stearns shall not be a fiduciary or advisor unless we have agreed in writing to
receive compensation specifically to act in such capacities. If you are subject
to ERISA, the Information is being furnished on the condition that it will not
form a primary basis for any investment decision. The Information is not a
solicitation of any transaction in securities which may be made only by
prospectus when required by law, in which event you may obtain such prospectus
from Bear Stearns.
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
TRANSACTION SUMMARY
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
Average Principal
Approx. Life to Window Principal Ratings
Certificates* Size ($) Call (years) (call) Lockout Designations Moody's/S&P
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
AF-1*** 109,475,000 3.269 114 None Senior/Fixed Aaa/AAA
--------------------------------------------------------------------------------------------------------
AF-2*** 37,760,000 1.000 26 None Senior/Floating Aaa/AAA
--------------------------------------------------------------------------------------------------------
AF-3 17,109,000 3.000 53 25 Senior/Fixed Aaa/AAA
--------------------------------------------------------------------------------------------------------
AF-4 19,749,000 7.215 114 52 Senior/Fixed Aaa/AAA
--------------------------------------------------------------------------------------------------------
A-IO**/*** 23,908,000 2.486 30 N/A Senior/Fixed/IO Aaa/AAA
--------------------------------------------------------------------------------------------------------
AV-1*** 41,070,000 1.740 75 None Senior/Floating Aaa/AAA
--------------------------------------------------------------------------------------------------------
M-1*** 20,469,000 6.226 114 36 Subordinate/Fixed Aa2/AA
--------------------------------------------------------------------------------------------------------
M-2*** 17,545,000 6.226 114 36 Subordinate/Fixed A2/A
--------------------------------------------------------------------------------------------------------
B*** 15,791,000 6.226 114 36 Subordinate/Fixed Baa3/BBB
--------------------------------------------------------------------------------------------------------
</TABLE>
* Subject to a 5% variance.
** Notional balance. IO has coupon of [8.00]% with [30]-month legal final.
*** Subject to an interest rate cap.
-------------------------------------------------------------------------------
SUMMARY OF TERMS
<TABLE>
<S> <C>
Depositor: Bear Stearns Asset Backed Securities, Inc.
Issuer: Asset-Backed Certificates, Series 2000-2
Seller and Master Servicer: EMC Mortgage Corporation
Originators of Collateral: United Companies Financial Corporation
(85.77%), Wells Fargo Home Mortgage, Inc.
(5.77%), and others (8.46%).
Sole Manager: Bear, Stearns & Co. Inc.
Trustee: Wells Fargo Bank Minnesota, N.A. (the "Trustee")
Structure: Senior/subordinated structure
with certificates collateralized by three
separate mortgage loan groups. Senior
certificates relating to each mortgage loan
group with common subordinate certificates.
Prepayment Assumption: Fixed-Rate Groups: 18% CPR
Adjustable-Rate Group: 28% CPR
Collateral: The aggregate principal balance of the
Mortgage Loans in the Loan Pool as of the
Cut-Off Date is approximately
$292,418,587.37. The Loan Pool will be
divided into three separate loan groups. The
aggregate principal balance of the Mortgage
Loans in Loan Group I is approximately
$142,175,372.30. The aggregate principal
balance of the Mortgage Loans in Loan Group
II is approximately $96,905,349.98. The
aggregate principal balance of the Mortgage
Loans in Loan Group III is approximately
$53,337,865.09.
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 1
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
<TABLE>
<S> <C>
Cut-off Date: November 1, 2000
Expected Settlement Date: November 30, 2000
First Payment Date: December 26, 2000
Payment Dates: The 25th day of each month or, if such day
is not a business day, the next succeeding
business day, beginning in December 2000.
Clean-up Call: All of the Certificates are priced to the
10% clean-up call. After the clean-up
call date, the coupon on the outstanding
Fixed-Rate Certificates will increase by
50 bps and the spread to LIBOR on the Class
AV-1 Certificates will increase by 2x.
ERISA Eligibility: The Senior certificates will be ERISA
eligible as of closing. Prospective
investors should consult their own counsel
with respect to an investment in the
certificates.
SMMEA Treatment: The certificates will not constitute
"mortgage-related securities" for purposes
of SMMEA.
Tax Status: REMIC under the Internal Revenue Code.
CREDIT ENHANCEMENT
Excess Interest: Excess Interest cashflows from each loan
group will be available as credit
enhancement.
Overcollateralization: The credit enhancement provisions of the
Trust are intended to provide for the
limited acceleration of the senior
certificates relative to the amortization of
the related collateral pool, generally in
the early months of the transaction.
Accelerated amortization is achieved by
applying certain excess interest collected
on the collateral to the payment of
principal on the related senior certificates
resulting in the build up of
overcollateralization ("O/C"). By paying
down the principal balance of the
certificates faster than the principal
amortization of the respective loan group,
an O/C amount equal to the excess of the
aggregate principal balance of the
collateral over the principal balance of the
related certificates is created. Excess cash
flows will be directed to build each O/C
amount until the required O/C target is
reached. Upon this event, the acceleration
feature will cease, unless it is once again
necessary to maintain the required O/C
level.
Cross-Collateralization: Under certain circumstances, excess cashflow
relating to one or more loan groups shall be
used to cover shortfalls in the payment of
principal allocated to the senior
certificates relating to other loan group or
groups. Also, after the senior certificates
relating to a loan group or groups are no
longer outstanding, principal payments from
the related loan group or groups otherwise
allocable to such senior certificates shall
be allocated to the senior certificates
relating to the other loan group or groups.
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 2
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
PAYMENTS ON THE CERTIFICATES
<TABLE>
<S> <C> <C>
Priority of Payments: On each Distribution Date, the Trustee will
withdraw:
The prepayment charges for such
Distribution Date and pay such amounts
to the Class XP Certificates; and
The Net Interest Funds and Principal
Funds for such Distribution Date and
apply such amounts as follows:
First, to pay accrued and unpaid interest on
the Offered Certificates, in the following
order of priority:
1. From Net Interest Funds in
respect of Loan Group I and
Loan Group II, in proportion to
the amounts of Net Interest
Funds relating to each such
Loan Group, to the Class A-IO
Certificates, the Current
Interest and any Interest Carry
Forward Amount for such Class;
2. (a) From remaining Net Interest
Funds in respect of Loan Group
I, to the Class AF-1
Certificates, the Current
Interest and any Interest Carry
Forward Amount for such Class;
(b) From remaining Net Interest
Funds in respect of Loan Group
II, to each Class in the Class
A-II Group, Current Interest
and any Interest Carry Forward
Amount for such Class, on a pro
rata basis in accordance with
the amount of accrued interest
due thereon; and
(c) From Net Interest Funds in
respect of Loan Group III, to the
Class AV-1 Certificates, the Current
Interest and any Interest Carry
Forward Amount for such Class;
3. From remaining Net Interest
Funds in respect of Loan Group
I, Loan Group II and Loan Group
III, to the Class M-1
Certificates, the Class M-2
Certificates and the Class B
Certificates, sequentially, in
that order, the Current
Interest and any Interest Carry
Forward Amount for each such
Class;
4. Any Excess Spread to the extent
necessary to meet a level of
overcollateralization equal to
the Specified
Overcollateralization Amount
will be the Extra Principal
Distribution Amount and will be
included as part of the
Principal Distribution Amount;
and
5. Any Remaining Excess Spread
will be added to any Excess
Overcollateralization Amount
and will be applied as Excess
Cashflow pursuant to clauses
second (D) through eighth
below;
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 3
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
<TABLE>
<S> <C> <C>
Notwithstanding the provisions of
clauses first 4 and 5, above, on the
first Distribution Date, all Excess
Spread will be paid to the holders
of the Class B-IO Certificates;
Second, to pay as principal on the Offered
Certificates entitled to payments of
principal, in the following order of
priority:
A. For each Distribution Date
(i) prior to the Stepdown Date
or (ii) on which a Trigger
Event is in effect:
1. To the Senior Certificates
entitled to payments of
principal as follows: the
Principal Distribution Amount
to (a) the Class AF-1
Certificates, (b) the Class
AF-2 Certificates, Class AF-3
Certificates and Class AF-4
Certificates, sequentially, in
that order, and (c) the Class
AV-1 Certificates, pro rata,
based on the Principal Funds
for such Distribution Date from
each of Loan Group I, Loan
Group II and Loan Group III,
respectively, in each case
until the Certificate Principal
Balance of the respective Class
is reduced to zero; the Class
M-1 certificates, the amount
necessary to reduce the
principal balance of the Class
M-1 certificates to the
required principal balance for
the Class M-1 certificates for
that payment date;
2. To the Class M-1
Certificates, any remaining
Principal Distribution Amount
until the Certificate Principal
Balance thereof is reduced to
zero;
3. To the Class M-2
Certificates, any remaining
Principal Distribution Amount
until the Certificate Principal
Balance thereof is reduced to
zero;
4. To the Class B Certificates,
any remaining Principal
Distribution Amount until the
Certificate Principal Balance
thereof is reduced to zero;
B. For each Distribution Date
(i) prior to the Stepdown Date
or (ii) on which a Trigger
Event is in effect:
1. To the Senior Certificates
entitled to payments of
principal as follows: from the
Principal Distribution Amount,
the Class A Principal
Distribution Amount to (a) the
Class AF-1 Certificates, (b)
the Class AF-2 Certificates,
the Class AF-3 Certificates and
the Class AF-4 Certificates,
sequentially, in that order,
and (c) the Class AV-1
Certificates, pro rata, based
on the Principal Funds for such
Distribution Date from each of
Loan Group I, Loan Group II and
Loan Group III, respectively,
in each case until the
Certificate Principal Balance
of the respective Class is
reduced to zero;
2. To the Class M-1
Certificates, from any
remaining Principal
Distribution Amount, the Class
M-1 Principal Distribution
Amount, until the Certificate
Principal Balance thereof is
reduced to zero;
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 4
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
<TABLE>
<S> <C> <C>
3. To the Class M-2
Certificates, from any
remaining Principal
Distribution Amount, the Class
M-2 Principal Distribution
Amount, until the Certificate
Principal Balance thereof is
reduced to zero;
4. To the Class B Certificates,
from any remaining Principal
Distribution Amount, the Class
B Principal Distribution
Amount, until the Certificate
Principal Balance thereof is
reduced to zero;
C. Notwithstanding the provisions
of clauses second (A) and (B), if
on any Distribution Date all of
the Senior Certificates of a Class
A Group or Groups are no longer
outstanding, the pro rata portion
of the Class A Principal
Distribution Amount otherwise
allocable to such Class A Group or
Groups will be allocated to the
remaining Class A Group or Groups,
pro rata in accordance with the
aggregate Certificate Principal
Balances of the outstanding Senior
Certificates of the Class A Group
or Groups to which such funds are
allocated, except that the pro
rata portion of the Class A
Principal Distribution Amount
otherwise allocable to the Class
A-II Group or Class A-III Group
shall be payable to the Class
AF-1Certificates only if no other
Classes of Senior Certificates are
outstanding; and
D. Notwithstanding the provisions
of clauses second (A) and (B), if
on any Distribution Date the pro
rata portion of the Class A
Principal Distribution Amount
allocated to a Class A Group is
insufficient to pay to the related
Senior Certificates the principal
to which they are entitled under
clause second (B) (1), any Excess
Cashflow will be allocated in an
amount equal to the lesser of the
deficiency and the aggregate
amount of such Excess Cashflow,
and if the pro rata portion of the
Class A Principal Distribution
Amount is insufficient in more
than one Class A Group, then pro
rata based upon the respective
amounts of such deficiencies,
except that Excess Cashflow shall
be payable to the Class AF-1
Certificates only if no other
Classes of Senior Certificates are
outstanding.
Third, to the Senior Certificates as
follows: from any remaining Excess Cashflow,
pro rata based on the Principal Funds for
such Distribution Date from each of Loan
Group I, Loan Group II and Loan Group III to
(a) the Class AF-1 Certificates, an amount
equal to any Unpaid Realized Losses for such
Class for such Distribution Date, (b) the
Class AF-2 Certificates, the Class AF-3 and
the Class AF-4 Certificates, sequentially,
in that order, an amount equal to any Unpaid
Realized Losses for the applicable Class for
such Distribution Date and (c) the Class
AV-1 Certificates, an amount equal to any
Unpaid Realized Losses for such Class for
such Distribution Date.
Fourth, from any remaining Excess Cashflow,
to the Class M-1 Certificates an amount
equal to any Unpaid Realized Losses for such
Class for such Distribution Date;
Fifth, from any remaining Excess Cashflow,
to the Class M-2 Certificates any amount
equal to Unpaid Realized Losses for such
Class for such Distribution Date;
Sixth, from any remaining Excess Cashflow,
to the Class B Certificates any amount equal
to Unpaid Realized Losses for such Class for
such Distribution Date;
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 5
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
<TABLE>
<S> <C>
Seventh, from any remaining Excess Cashflow,
to the Class B-IO Certificates an amount
specified in the Pooling and Servicing
Agreement; and
Eighth, Eighth, any remaining amounts to the
Residual Certificates.
Glossary: Applied Realized Loss Amount, with respect
to any Class of Offered Certificates and as
to any Distribution Date, means the sum of
the Realized Losses with respect to Mortgage
Loans which have been applied in reduction
of the Certificate Principal Balance of such
Class.
Certificate Principal Balance, with respect
to any Class of Offered Certificates (other
than any Class A-IO Certificates) and any
Distribution Date, is the Original
Certificate Principal Balance of such Class
as set forth on the cover page of this
Prospectus Supplement, less (i) all amounts
in respect of principal distributed to such
Class on previous Distribution Dates and
(ii) any Applied Realized Loss Amounts
allocated to such Class on previous
Distribution Dates.
Class A Group is any of the Class A-I Group,
the Class A-II Group or the Class A-III
Group, as applicable.
Class A Principal Distribution Amount, is
the excess of (A) the aggregate Certificate
Principal Balance of all of the Senior
Certificates immediately prior to such
Distribution Date over (B) the lesser of (I)
approximately 51.20% of the Stated Principal
Balances of the Mortgage Loans as of the
last day of the related Due Period and (II)
the Stated Principal Balances of the
Mortgage Loans as of the last day of the
related Due Period less the OC Floor.
Class B Principal Distribution Amount is the
excess of (x) of the sum of (A) the
aggregate Certificate Principal Balance of
all of the Senior Certificates (after taking
into account distributions of the Class A
Principal Distribution Amount for such
Distribution Date), (B) the Certificate
Principal Balance of the Class M-1
Certificates (after taking into account
distribution of the Class M-1 Principal
Distribution Amount for such Distribution
Date), (C) the Certificate Principal Balance
of the Class M-2 Certificates (after taking
into account distributions of the Class M-2
Principal Distribution Amount for such
Distribution Date) and (D) the Certificate
Principal Balance of the Class B
Certificates immediately prior to such
Distribution Date over (y) the lesser of (A)
approximately 88.00% of the aggregate Stated
Principal Balances of all of the Mortgage
Loans as of the last day of the related Due
Period and (B) the aggregate Stated
Principal Balance of all of the Mortgage
Loans as of the last day of the related Due
Period less the OC Floor; provided, however,
that after the Certificate Principal
Balances of the Senior Certificates, the
Class M-1 Certificates and the Class M-2
Certificates are reduced to zero, the Class
B Principal Distribution Amount for such
Distribution Date will equal 100% of the
Principal Distribution Amount.
Class M-1 Principal Distribution Amount, is
the excess of (x) the sum of (A) the
aggregate Certificate Principal Balance of
all of the Senior Certificates (after taking
into
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 6
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
<TABLE>
<S> <C>
account distributions of the Class A
Principal Distribution Amount for such
Distribution Date) and (B) the Certificate
Principal Balance of the Class M-1
Certificates immediately prior to such
Distribution Date over (y) the lesser of (A)
approximately 65.20% of the aggregate Stated
Principal Balances of all of the Mortgage
Loans as of the last day of the related Due
Period and (B) the aggregate Stated
Principal Balances of all of the Mortgage
Loans as of the last day of the related Due
Period less the OC Floor.
Class M-2 Principal Distribution Amount is
the excess of (x) the sum of (A) the
aggregate Certificate Principal Balance of
all of the Senior Certificates (after taking
into account distributions of the Class A
Principal Distribution Amount for such
Distribution Date), (B) the Certificate
Principal Balance of the Class M-1
Certificates (after taking into account
distribution of the Class M-1 Principal
Distribution Amount for such Distribution
Date) and (C) the Certificate Principal
Balance of the Class M-2 Certificates
immediately prior to such Distribution Date
over (y) the lesser of (A) approximately
77.20% of the aggregate Stated Principal
Balances of all of the Mortgage Loans as of
the last day of the related Due Period and
(B) the aggregate Stated Principal Balances
of all of the Mortgage Loans as of the last
day of the related Due Period less the OC
Floor.
Current Interest, with respect to each Class
of the Offered Certificates and each
Distribution Date is the interest accrued at
the applicable Pass-Through Rate for the
applicable Accrual Period on the Certificate
Principal Balance of such Class plus any
amount previously distributed with respect
to interest for such Class that is recovered
as a voidable preference by a trustee in
bankruptcy.
Excess Cashflow, with respect to any
Distribution Date, is the sum of (a) the
Excess Overcollateralization Amount and (b)
the Remaining Excess Spread, in each case
for such Distribution Date.
Excess Overcollateralization Amount, with
respect to any Distribution Date, is the
excess, if any, of (a) the
Overcollateralization Amount over (b) the
Specified Overcollateralization Amount, in
each case for such Distribution Date.
Excess Spread, with respect to any
Distribution Date, is the excess, if any, of
the Net Interest Funds for such Distribution
Date over required distributions of interest
on the Offered Certificates on such
Distribution Date.
Extra Principal Distribution Amount, with
respect to any Distribution Date, is the
lesser of (a) the excess, if any, of the
Specified Overcollateralization Amount and
for such Distribution Date over the
Overcollateralization Amount (after giving
effect to distributions of principal on the
Certificates other than any Extra Principal
Distribution Amount) and for such
Distribution Date and (b) the Excess Spread
for such Distribution Date.
Interest Carry Forward Amount, with respect
to each Class of the Offered Certificates
and each Distribution Date, is the sum of
(1) the excess of (A) Current Interest for
such Class with respect to prior
Distribution Dates over (B) the amount
actually distributed to
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 7
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
<TABLE>
<S> <C>
such Class with respect to interest on such
prior Distribution Dates and (2) interest on
such excess (to the extent permitted by
applicable law) at the applicable
Pass-Through Rate.
OC Floor equals 0.50% of the aggregate
Stated Principal Balances of the Mortgage
Loans as of the Cut-off Date.
Overcollateralization Amount, with respect
to any Distribution Date, is the excess, if
any, of (a) the aggregate Stated Principal
Balances of the Mortgage Loans as of the
last day of the related Due Period over (b)
the Certificate Principal Balances of the
Offered Certificates as of such date (after
taking into account the payment of principal
other than any Extra Principal Distribution
Amount on such Certificates on such
Distribution Date).
Principal Distribution Amount, with respect
to each Distribution Date, is the sum of (x)
the Principal Funds for such Distribution
Date plus (y) any Extra Principal
Distribution Amount for such Distribution
Date less (z) any Excess
Overcollateralization Amount for such
Distribtion Date.
Realized Loss is the excess of the Stated
Principal Balance of a defaulted Mortgage
Loan over the net liquidation proceeds with
respect thereto that are allocated to
principal.
Remaining Excess Spread with respect to any
Distribution Date, is the Excess Spread less
any Extra Principal Distribution Amount, in
each case for such Distribution Date.
Senior Enhancement Percentage for any
Distribution Date is the percentage obtained
by dividing (x) the sum of (i) the aggregate
of the Certificate Principal Balances of the
Subordinated Offered Certificates and (ii)
the Overcollateralization Amount after
taking into account the distribution of the
related Principal Distribution Amounts on
such Distribution Date by (y) the aggregate
Stated Principal Balances of the Mortgage
Loans as of the last day of the related Due
Period.
Specified Overcollateralization Amount
means, prior to the Stepdown Date, an amount
equal to 6.00% of the Cut-off Date Principal
Balance of the Mortgage Loans, and on and
after the Stepdown Date, an amount equal to
12.00% of the aggregate Stated Principal
Balance of the Mortgage Loans as of the last
day of the related Due Period, subject to a
minimum amount equal to the OC Floor;
provided, however, that, if on any
Distribution Date, a Trigger Event has
occurred, the Specified
Overcollateralization Amount shall not be
reduced to the applicable percentage of the
then current aggregate Stated Principal
Balance of the Mortgage Loans until the
Distribution Date on which a Trigger Event
no longer exists.
Specified Senior Enhancement Percentage
means 48.80%.
Stepdown Date, is the later to occur of (i)
the Distribution Date in December 2003 or
(ii) the first Distribution Date on which
the Senior Enhancement Percentage
(calculated for this purpose only after
taking into account distributions of
principal on the related Mortgage Loans on
such Distribution Date, but prior to any
applications of Principal Funds to the
Certificates) is greater than or equal to
the Specified Senior Enhancement Percentage.
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 8
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
<TABLE>
<S> <C>
A Trigger Event, with respect to a
Distribution Date after the Stepdown Date,
exists if certain rates of cumulative losses
have occurred during certain periods of time
as specified in the Pooling and Servicing
Agreement or a Delinquency Event shall have
occurred and be continuing. A 'Delinquency
Event' shall have occurred and be continuing
if at any time, (x) the three-month rolling
average of the percent equivalent of a
fraction, the numerator of which is the
aggregate Stated Principal Balance of the
Mortgage Loans that are 60 days or more
delinquent or are in bankruptcy or
foreclosure or are REO Properties, and the
denominator of which is the aggregate Stated
Principal Balance of all of the Mortgage
Loans as of the last day of the related Due
Period, equals or exceeds (y) 45% of the
Senior Enhancement Percentage.
Unpaid Realized Loss Amount, with respect to
any Class of the Offered Certificates and as
to any Distribution Date, is the excess of
(i) Applied Realized Loss Amounts with
respect to such Class over (ii) the sum of
all distributions in reduction of the
Applied Realized Loss Amounts on all
previous Distribution Dates. Any amounts
distributed to a Class of Offered
Certificates in respect of any Unpaid
Realized Loss Amount will not be applied to
reduce the Certificate Principal Balance of
such Class.
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 9
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
Summary of Expected Subordination
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Initial Expected Total Expected Total
OC Target Prior Target Credit OC Target on Target Credit
to Stepdown Enhancement or after Enhancement
Expected Initial Date(b) Prior to Stepdown Stepdown on or after
Offered Certificates Subordination(a) Date Date(b) Stepdown Date
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Class A Certificates [23.00]% [6.00]% [24.40]% [12.00]% [48.80]%
-------------------------------------------------------------------------------------------------------------------------------
Class M-1 Certificates [16.00]% [6.00]% [17.40]% [12.00]% [34.80]%
-------------------------------------------------------------------------------------------------------------------------------
Class M-2 Certificates [10.00]% [6.00]% [11.40]% [12.00]% [22.80]%
-------------------------------------------------------------------------------------------------------------------------------
Class B Certificates [4.60]% [6.00]% [6.00]% [12.00]% [12.00]%
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(a) Represents the expected amount of subordination for each class of
Certificates as of the closing date.
(b) The overcollateralization amount will equal [4.60]% as of the closing
date. Excess spread, if available, will be applied to make accelerated
payments of principal until the overcollateralization amount equals the
targeted overcollateralization amount, which is equal to [6.00]% of the
initial collateral amount plus amounts on deposit in the pre-funding
account on the closing date. On or after the Stepdown Date, the targeted
overcollateralization amount is allowed to stepdown to [12.00%] of the
then current collateral balance.
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 10
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
COLLATERAL - GENERAL
EMC Mortgage Corporation ("EMC") recently acquired a whole loan portfolio of
performing and non-performing mortgage loans that were originated by the United
Companies Financial Corporation ("UCFC") of Baton Rouge, Louisiana. The
portfolio was acquired by EMC in a bankruptcy auction of the remaining assets of
the UCFC bankruptcy estate. Of the whole loans purchased in such transaction,
EMC has only included in the 2000-2 securitization those mortgage loans (the
"UCFC Securitized Assets") which were less than 60 days delinquent as of October
31, 2000. The UCFC Securitized Assets comprise, as of October 31, 2000, 4,421
mortgage loans with an approximate unpaid principal balance of $250,805,605
(approximately 85.77% of the securitization pool by principal balance). Each
mortgage loan is a fixed-rate or adjustable-rate, fully-amortizing or balloon
loan secured by a first or second lien on a one- to four-family residential
property.
In addition to the assets purchased from UCFC, there are, as of October 31,
2000, 464 mortgage loans (the "Other Securitized Assets") with an approximate
unpaid principal balance of $41,612,982 included in this transaction, which were
purchased in EMC's ordinary course of business. The Other Securitized Assets
were acquired from 15 different originators (none of which originated more than
41% of the Other Securitized Assets) and none of such assets are 60 or more days
delinquent as of October 31, 2000. The Other Securitized Assets make up
approximately 14.23% of the securitization pool by principal balance.
Specific points with respect to the collateral:
Delinquency Information. As of October 31, 2000Approximately 3.93% of
the portfolio is 31 to 60 days delinquent and no loans are 61 or more
days delinquent;
HOEPA. Approximately 27.50% of the mortgage loans are subject to
special rules, disclosure requirements and other provisions that were
added to the federal Truth-in-Lending Act by the Home Ownership and
Equity Protection Act of 1994 due to interest rates or origination
costs in excess of certain prescribed levels. EMC will represent that
the mortgage loans were originated in accordance with any federal,
state and local laws;
Credit Life Insurance. At origination, many of the borrowers were given
the option to obtain a credit life insurance policy in conjunction with
the origination of their loan. Such policy provides for, upon the death
of such borrower, an amount generally sufficient to fully pay off the
mortgage loan. Approximately 15.85% of the mortgage loans were
originated with credit life insurance. Such credit life premiums were
financed by adding the total premium (principal and interest amounts
payable throughout the term of such policy) to the mortgage loan
balance. If the policy is canceled or there are any refunds due, the
insurer will pay the servicer directly as a curtailment to the
remaining UPB. The current insurer is Balboa Life Insurance Company;
and
Credit Scores. Updated FICO scores were obtained as of October 6th on
the loans acquired from UCFC and within the last six months for the
remaining loans. The information is included in the Computational
Materials.
Servicing Limitations, Extensions and Modifications. The Master Servicer
may be limited in its ability to foreclose on a Mortgaged Property in the
event that a Mortgagor defaults under a payment agreement, or a bankruptcy
plan. If a Mortgage Loan goes into a default (as determined by the Master
Servicer), the Master Servicer will have the discretion, subject to certain
conditions, to modify, waive or amend certain terms of the Mortgage Loan
(which may include, without limitation, a reduction in the interest rate)
without the consent of the Trustee or any Certificateholder. If any
Scheduled Principal Balance remains due at the original maturity date
resulting in a required balloon payment, the borrower's obligation to repay
such remaining amounts may, if the borrower is in default, be extended for
a period of time to allow the loan to fully amortize.
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 11
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
COLLATERAL SUMMARY
(Total Loan Pool)
<TABLE>
<S> <C>
Cut-Off Date 11/1/00
Total Outstanding Balance: $292,418,587.37
Number of Loans: 4,885
Average Remaining Balance: $59,860.51 (range: $680.39 - $485,753.82)
Loan Type: 81.76% fixed-rate and 18.24% adjustable-rate loans
WA Gross Coupon: 10.09% (range: 6.15% - 17.90%)
Original Weighted Average Term: 306 months (range: 27 - 429 months)
Remaining Weighted Average Term: 285 months (range: 2 - 355 months)
Lien Position: 97.05% first, 2.95% second
WA LTV Ratio: 81.41%
WA Credit Score: 607
Documentation: 87.72% full,
8.18% alt/lite,
2.33% no income no asset,
1.33% income only
0.44% unknown.
Property Type: 81.54% single family,
10.51% manufactured housing,
3.18% 2-4 family,
1.64% land,
1.60% PUD,
0.89% condo,
0.64% townhouse.
Owner Occupancy: 96.78% owner occupied,
3.22% non-owner occupied.
Loan Purpose: 77.68% cash-out refi,
20.20% purchase,
1.99% rate/term refi,
0.12% unknown.
Geographic Distribution: CA (7.35%), LA (6.71%), NY (6.05%),
(all states >=5.00%) OH (5.59%), NC (5.08%)
Deliquency Status 3.93% 31-60 days
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 12
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Total Loan Pool - Loan Characteristics
--------------------------------------------------------------------------------
Set forth below is a description of certain characteristics of the Mortgage
Loans in the Loan Pool as of the Cut-Off Date. Unless otherwise specified, all
principal balances of the Mortgage Loans in the Loan Pool are as of the Cut-Off
Date and all percentages are approximate percentages by aggregate principal
balance as of the Cut-Off Date (except as indicated otherwise).
--------------------------------------------------------------------------------
Outstanding Principal Balances
<TABLE>
<CAPTION>
--------------------------------------------
--------------------------------------------
-------------------------------------------- Percent of
-------------------------------------------- Number of Principal Mortgage Loans
Range of Principal Balances ($) Mortgage Loans Balance by Principal Balance
-------------------------------------------- --------------------- ---------------------- ----------------------
<S> <C> <C> <C>
$0.00 to $25,000.00 956 $16,061,341.25 5.49%
$25,000.01 to $50,000.00 1,513 56,164,733.46 19.21
$50,000.01 to $75,000.00 1,177 72,080,250.73 24.65
$75,000.01 to $100,000.00 557 47,984,323.22 16.41
$100,000.01 to $125,000.00 319 35,479,634.62 12.13
$125,000.01 to $150,000.00 147 19,996,194.12 6.84
$150,000.01 to $175,000.00 78 12,531,357.98 4.29
$175,000.01 to $200,000.00 51 9,519,140.79 3.26
$200,000.01 to $225,000.00 28 5,961,849.99 2.04
$225,000.01 to $250,000.00 24 5,657,908.98 1.93
$250,000.01 to $275,000.00 10 2,613,233.72 0.89
$275,000.01 to $300,000.00 11 3,147,428.16 1.08
$300,000.01 + 14 5,221,190.35 1.79
-- ------------ ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
As of the Cut-Off Date, the average Principal Balance of Mortgage Loans in
the Loan Pool is approximately $59,860.51.
Combined Loan-to-Value Ratios
<TABLE>
<CAPTION>
--------------------------------------
--------------------------------------
-------------------------------------- Percent of
Range of Combined Number of Principal Mortgage Loans
Loan-to-Value Ratios (%) Mortgage Loans Balance by Principal Balance
-------------------------------------- ------------------------ ---------------------- --------------------
<S> <C> <C> <C>
< 10.00% 5 $41,466.61 0.01%
10.01% to 20.00% 22 412,414.04 0.14
20.01% to 25.00% 22 551,450.23 0.19
25.01% to 30.00% 25 654,796.21 0.22
30.01% to 40.00% 71 1,660,865.06 0.57
40.01% to 50.00% 158 4,656,081.39 1.59
50.01% to 60.00% 252 9,098,963.60 3.11
60.01% to 70.00% 432 20,271,720.98 6.93
70.01% to 80.00% 1,423 82,815,426.71 28.32
80.01% to 90.00% 1,674 120,235,151.40 41.12
90.01% to 100.00% 758 50,626,393.86 17.31
100.01% to 110.00% 32 1,045,205.72 0.36
110.01% to 120.00% 8 218,232.78 0.07
120.01% to 125.00% 3 130,418.78 0.04
- ---------- ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Combined Loan-to-Value Ratio of
the Mortgage in the Loan Pool is approximately 81.41%.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 13
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Geographical Distributions
<TABLE>
<CAPTION>
---------------------------------------------
---------------------------------------------
--------------------------------------------- Percent of
--------------------------------------------- Number of Principal Mortgage Loans
Location Mortgage Loans Balance by Principal Balance
--------------------------------------------- ----------------------- ---------------------- ----------------------
<S> <C> <C> <C>
California 195 21,501,279.26 7.35
Louisiana 419 19,626,221.57 6.71
New York 270 17,694,045.25 6.05
Ohio 301 16,346,461.65 5.59
North Carolina 269 14,845,404.76 5.08
Georgia 220 14,168,482.28 4.85
Florida 216 13,598,632.20 4.65
Michigan 271 13,285,348.04 4.54
Tennessee 211 11,332,872.51 3.88
Indiana 207 10,433,877.49 3.57
Mississippi 210 9,645,708.42 3.30
Pennsylvania 180 9,434,117.41 3.23
South Carolina 124 7,452,449.99 2.55
Kentucky 128 6,248,944.73 2.14
Illinois 130 6,105,610.62 2.09
Texas 92 6,012,171.64 2.06
Oklahoma 146 5,960,316.46 2.04
Other 1,296 88,726,643.09 30.34
------ -------------- -----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
The reference to "Other" in the preceding table includes states and the
District of Columbia that contain mortgaged properties for which the Principal
Balance is less than 2.00% of the total Principal Balance of the Loan Pool as
of the Cut-Off Date.
Months Remaining to Stated Maturity
<TABLE>
<CAPTION>
-----------------------------------
-----------------------------------
----------------------------------- Percent of
----------------------------------- Number of Principal Mortgage Loans
Range of Remaining Terms Mortgage Loans Balance by Principal Balance
----------------------------------- ------------------- --------------------- -----------------------
<S> <C> <C> <C>
< 48 93 $770,469.26 0.26%
49 to 60 16 217,137.14 0.07
61 to 120 426 9,538,472.82 3.26
121 to 180 1,436 56,281,672.54 19.25
181 to 240 474 23,783,181.18 8.13
241 to 300 76 4,580,388.79 1.57
301 to 360 2,364 197,247,265.64 67.45
----- -------------- -----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average months remaining to scheduled
maturity of the Mortgage Loans in the Loan Pool is approximately 285 months.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 14
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Current Gross Coupon
<TABLE>
<CAPTION>
-------------------------------
-------------------------------
------------------------------- Percent of
------------------------------- Number of Principal Mortgage Loans
Range of Coupons (%) Mortgage Loans Balance by Principal Balance
------------------------------ -------------------- -------------------- ----------------------
<S> <C> <C> <C>
6.001% to 6.500% 14 $1,440,794.08 0.49%
6.501% to 7.000% 166 14,583,006.86 4.99
7.001% to 7.500% 33 2,435,482.56 0.83
7.501% to 8.000% 33 2,663,555.35 0.91
8.001% to 8.500% 154 11,499,586.39 3.93
8.501% to 9.000% 442 35,212,109.51 12.04
9.001% to 9.500% 525 38,469,285.47 13.16
9.501% to 10.000% 726 48,385,869.55 16.55
10.001% to 10.500% 572 37,323,345.50 12.76
10.501% to 11.000% 537 34,508,254.81 11.8
11.001% to 11.500% 427 21,085,620.99 7.21
11.501% to 12.000% 477 19,687,786.30 6.73
12.001% to 12.500% 173 6,554,653.70 2.24
12.501% to 13.000% 333 10,124,398.21 3.46
13.001% to 13.500% 124 4,387,672.15 1.50
13.501% to 14.000% 57 1,496,697.52 0.51
14.001% to 14.500% 33 969,995.52 0.33
14.501% to 15.000% 32 739,154.24 0.25
15.001% to 15.500% 22 737,239.42 0.25
15.501% to 16.000% 4 90,471.66 0.03
17.501% to 18.000% 1 23,607.58 0.01
- --------- ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average current gross coupon of the
Mortgage Loans in the Loan Pool is approximately 10.09%.
Lien Position
<TABLE>
<CAPTION>
--------------------------
--------------------------
-------------------------- Percent of
-------------------------- Number of Principal Mortgage Loans
Lien Position Mortgage Loans Balance by Principal Balance
-------------------------- ------------------- ------------------- ----------------------
<S> <C> <C> <C>
First 4,494 $283,778,555.71 97.05%
Second 391 8,640,031.66 2.95
--- ------------ ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 15
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Occupancy Types
<TABLE>
<CAPTION>
-------------------------------------
------------------------------------- --------------------------- -----------------------
------------------------------------- --------------------------- ------------------- Percent of
Occupancy Number of Principal Mortgage Loans
(as indicated by Borrower) Mortgage Loans Balance by Principal Balance
------------------------------------- --------------------------- ------------------- -----------------------
<S> <C> <C> <C>
Owner Occupied 4,628 $282,990,454.59 96.78%
Investment 249 9,046,707.23 3.09
Second Home 6 308,686.73 0.11
Unknown 2 72,738.82 0.02
- --------- ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
Loan Purpose
<TABLE>
<CAPTION>
---------------------------------
--------------------------------- ----------------------------- ----------------------
--------------------------------- ----------------------------- -------------- Percent of
--------------------------------- Number of Principal Mortgage Loans
Loan Purpose Mortgage Loans Balance by Principal Balance
--------------------------------- ----------------------------- -------------- ----------------------
<S> <C> <C> <C>
Cash-Out Refi 4,032 $227,162,088.33 77.68%
Purchase 786 59,065,291.74 20.20
Rate/Term Refi 54 5,832,766.28 1.99
Unknown 13 358,441.02 0.12
-- ---------- ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 16
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Credit Scores
<TABLE>
<CAPTION>
----------------------------------
---------------------------------- -----------------------
---------------------------------- Percent of
---------------------------------- Number of Mortgage Loans
Range of Credit Scores Mortgage Loans Principal Balance by Principal Balance
---------------------------------- -------------- ----------------- -----------------------
<S> <C> <C> <C>
Not Available 138 $5,900,244.95 2.02%
1 to 499 271 15,723,175.36 5.38
500 to 519 308 16,583,009.25 5.67
520 to 539 397 24,576,076.98 8.40
540 to 559 387 23,424,000.57 8.01
560 to 579 419 27,330,986.34 9.35
580 to 599 414 25,415,037.37 8.69
600 to 619 432 26,192,193.44 8.96
620 to 639 473 28,207,912.51 9.65
640 to 659 455 27,490,471.40 9.40
660 to 679 407 24,199,963.00 8.28
680 to 699 265 16,715,427.33 5.72
700 to 719 219 13,026,648.33 4.45
720 to 739 125 7,927,355.69 2.71
740 to 759 86 4,779,651.51 1.63
760 to 779 46 2,548,129.15 0.87
780 to 799 34 1,862,055.33 0.64
800 + 9 516,248.86 0.18
- ---------- ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Credit Score of the Borrower of
the Mortgage Loans having Credit Scores in the Loan Pool is approximately
607.
Property Type
<TABLE>
<CAPTION>
------------------------
------------------------ -------------------- Percent of
Number of Principal Mortgage Loans
Property Type Mortgage Loans Balance by Principal Balance
--------------------------------------- ------------------------ -------------------- ----------------------
<S> <C> <C> <C>
Single Family 4,034 $238,432,940.02 81.54%
Manufactured Housing 503 30,721,692.39 10.51
2-4 Family 164 9,302,183.70 3.18
Land 66 4,782,021.60 1.64
PUD 38 4,685,603.36 1.60
Condo 42 2,614,692.19 0.89
Townhouse 38 1,879,454.11 0.64
-- ------------ ----
Total 4,885 $292,418,587.37 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 17
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
COLLATERAL SUMMARY
Loan Group I
<TABLE>
<S> <C>
Cut-Off Date 11/1/00
Total Outstanding Balance: $142,175,372.30
Number of Loans: 2,289
Average Remaining Balance: $62,112.44 (range: $1,221.19 - $248,586.46)
Loan Type: 100.00% fixed-rate loans
WA Gross Coupon: 9.77% (range: 6.40% - 17.90%)
Original Weighted Average Term: 304 months (range: 27 - 361 months)
Remaining Weighted Average Term: 282 months (range: 2 - 354 months)
Lien Position: 96.53% first, 3.47% second
WA LTV Ratio: 81.03%
WA Credit Score: 613
Documentation: 88.47% full,
7.71% alt/lite,
1.71% no income no asset,
1.56% income only,
0.55% unknown.
Property Type: 76.44% single family,
17.37% manufactured housing,
3.38% 2-4 family,
1.25% PUD,
0.85% townhouse,
0.71% condo.
Owner Occupancy: 95.34% owner occupied,
4.66% non-owner occupied.
Loan Purpose: 72.24% cash-out refi,
26.24% purchase,
1.47% rate/term refi,
0.06% unknown.
Geographic Distribution: LA (7.52%), NY (6.87%), FL (6.25%),
(all states >=5.00%) CA (6.12%), OH (5.22%)
Deliquency Status 3.82% 31-60 days
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 18
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
Loan Group I - Characteristics
-------------------------------------------------------------------------------
Set forth below is a description of certain characteristics of the Mortgage
Loans in Loan Group I as of the Cut-Off Date. Unless otherwise specified, all
principal balances of the Mortgage Loans in Loan Group I are as of the Cut-Off
Date and all percentages are approximate percentages by aggregate principal
balance as of the Cut-Off Date (except as indicated otherwise).
-------------------------------------------------------------------------------
Outstanding Principal Balances
<TABLE>
<CAPTION>
---------------------------------------------
--------------------------------------------- ----------------------------
--------------------------------------------- Percent of
--------------------------------------------- Number of Mortgage Loans
Range of Principal Balances ($) Mortgage Loans Principal Balance by Principal Balance
--------------------------------------------- ---------------- ----------------- ----------------------------
<S> <C> <C> <C>
$0.01 to $25,000.00 413 $6,677,018.44 4.70%
$25,000.01 to $50,000.00 673 25,313,263.63 17.80
$50,000.01 to $75,000.00 524 32,176,137.82 22.63
$75,000.01 to $100,000.00 292 25,241,272.32 17.75
$100,000.01 to $125,000.00 199 22,055,749.02 15.51
$125,000.01 to $150,000.00 83 11,311,755.67 7.96
$150,000.01 to $175,000.00 50 8,061,193.04 5.67
$175,000.01 to $200,000.00 28 5,233,549.12 3.68
$200,000.01 to $225,000.00 12 2,554,074.36 1.80
$225,000.01 to $250,000.00 15 3,551,358.88 2.50
-- ------------ ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
As of the Cut-Off Date, the average Principal Balance of the Mortgage Loans in
Loan Group I is approximately $62,112.44.
Combined Loan-to-Value Ratios
<TABLE>
<CAPTION>
---------------------------------------------
---------------------------------------------
--------------------------------------------- Percent of
Range of Combined Number of Mortgage Loans
Loan-to-Value Ratios (%) Mortgage Loans Principal Balance by Principal Balance
--------------------------------------------- ---------------- ----------------- ----------------------------
<S> <C> <C> <C>
< 10.00% 3 $26,162.00 0.02%
10.01% to 20.00% 10 199,735.55 0.14
20.01% to 25.00% 12 334,450.33 0.24
25.01% to 30.00% 9 212,629.79 0.15
30.01% to 40.00% 28 770,776.18 0.54
40.01% to 50.00% 62 1,915,445.31 1.35
50.01% to 60.00% 107 4,074,013.51 2.87
60.01% to 70.00% 196 9,517,282.87 6.69
70.01% to 80.00% 757 43,536,110.09 30.62
80.01% to 90.00% 822 62,711,298.99 44.11
90.01% to 100.00% 257 18,224,426.61 12.82
100.01% to 110.00% 20 583,212.75 0.41
110.01% to 120.00% 5 55,364.14 0.04
120.01% to 125.00% 1 14,464.18 0.01
- --------- ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Combined Loan-to-Value Ratio of the
Mortgage Loans in Loan Group I is approximately 81.03%.
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 19
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
Geographical Distributions
<TABLE>
<CAPTION>
--------------------------
-------------------------- ---------------------- ---------------------------
-------------------------- ---------------------- Percent of
-------------------------- Number of ------------------------ Mortgage Loans
Location Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ ---------------------------
<S> <C> <C> <C>
Louisiana 217 $10,696,882.80 7.52%
New York 121 9,762,633.07 6.87
Florida 150 8,890,439.56 6.25
California 81 8,703,564.07 6.12
Ohio 121 7,427,893.38 5.22
Georgia 118 6,324,495.41 4.45
Michigan 105 6,001,899.38 4.22
Tennessee 97 5,571,574.46 3.92
South Carolina 86 5,347,777.65 3.76
North Carolina 87 4,761,525.37 3.35
Mississippi 93 4,513,335.50 3.17
Pennsylvania 79 4,381,883.78 3.08
Indiana 75 3,767,185.85 2.65
New Hampshire 37 3,724,098.19 2.62
Texas 64 3,697,373.16 2.60
Alabama 72 3,063,144.91 2.15
Other 686 45,539,665.76 32.03
--- ------------- -----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
The reference to "Other" in the preceding table includes states and the
District of Columbia that contain mortgaged properties for which the Principal
Balance is less than 2.00% of the total Principal Balance of Loan Group I as
of the Cut-Off Date.
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 20
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
Current Gross Coupon
<TABLE>
<CAPTION>
--------------------------
-------------------------- ---------------------------
-------------------------- Percent of
-------------------------- Number of Mortgage Loans
Range of Coupons (%) Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ ---------------------------
<S> <C> <C> <C>
6.001% to 6.500% 11 $1,170,277.25 0.82%
6.501% to 7.000% 127 11,634,832.77 8.18
7.001% to 7.500% 29 2,204,967.78 1.55
7.501% to 8.000% 25 1,629,485.51 1.15
8.001% to 8.500% 114 8,286,915.45 5.83
8.501% to 9.000% 242 18,792,254.14 13.22
9.001% to 9.500% 226 17,425,745.94 12.26
9.501% to 10.000% 351 23,853,143.01 16.78
10.001% to 10.500% 264 16,448,544.01 11.57
10.501% to 11.000% 259 14,885,954.31 10.47
11.001% to 11.500% 196 9,670,742.28 6.80
11.501% to 12.000% 192 7,767,318.98 5.46
12.001% to 12.500% 102 3,631,229.81 2.55
12.501% to 13.000% 75 2,606,788.27 1.83
13.001% to 13.500% 35 1,017,046.90 0.72
13.501% to 14.000% 22 526,664.06 0.37
14.001% to 14.500% 9 262,700.79 0.18
14.501% to 15.000% 6 146,794.67 0.10
15.001% to 15.500% 2 171,798.35 0.12
15.501% to 16.000% 1 18,560.44 0.01
17.501% to 18.000% 1 23,607.58 0.02
- --------- ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average current gross coupon of the
Mortgage Loans in Loan Group I is approximately 9.77%.
Months Remaining to Stated Maturity
<TABLE>
<CAPTION>
--------------------------
--------------------------
-------------------------- Percent of
-------------------------- Number of Mortgage Loans
Range of Remaining Terms Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ ---------------------------
<S> <C> <C> <C>
1 to 48 49 $362,360.58 0.25%
49 to 60 9 141,126.18 0.10
61 to 120 170 4,145,769.60 2.92
121 to 180 657 27,861,432.14 19.60
181 to 240 272 14,013,897.19 9.86
241 to 300 53 3,202,970.13 2.25
301 to 360 1,079 92,447,816.48 65.02
----- ------------- -----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average months remaining to scheduled
maturity of the Mortgage Loans in Loan Group I is approximately 282 months.
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 21
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
Lien Position
<TABLE>
<CAPTION>
--------------------------
-------------------------- ----------------------------
-------------------------- Percent of
-------------------------- Number of Mortgage Loans
Lien Position Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ ---------------------------
<S> <C> <C> <C>
First 2,065 $137,243,866.20 96.53%
Second 224 4,931,506.10 3.47
--- ------------ ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
Occupancy Types
<TABLE>
<CAPTION>
--------------------------
-------------------------- ---------------------------
-------------------------- Percent of
Occupancy Number of ------------------------ Mortgage Loans
(as indicated by Borrower) Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ ---------------------------
<S> <C> <C> <C>
Owner Occupied 2,101 $135,551,357.70 95.34%
Investment 183 6,357,170.74 4.47
Second Home 4 234,694.13 0.17
Unknown 1 32,149.73 0.02
- --------- ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
Loan Purpose
<TABLE>
<CAPTION>
--------------------------
-------------------------- ---------------------------
-------------------------- Percent of
-------------------------- Number of ------------------------ Mortgage Loans
Loan Purpose Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ ---------------------------
<S> <C> <C> <C>
Cash-Out Refi 1,728 $102,701,588.51 72.24%
Purchase 539 37,310,776.60 26.24
Rate/Term Refi 19 2,084,472.51 1.47
Unknown 3 78,534.68 0.06
- --------- ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 22
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
Credit Scores
<TABLE>
<CAPTION>
--------------------------
-------------------------- -------------------------
-------------------------- Percent of
-------------------------- Number of Mortgage Loans
Range of Crecit Scores Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ -------------------------
<S> <C> <C> <C>
Not Available 78 $3,396,238.89 2.39%
1 to 499 118 7,475,523.48 5.26
500 to 519 125 6,890,924.04 4.85
520 to 539 169 11,251,866.17 7.91
540 to 559 171 10,884,719.15 7.66
560 to 579 182 12,098,564.93 8.51
580 to 599 177 10,882,689.50 7.65
600 to 619 201 12,878,306.93 9.06
620 to 639 222 13,693,880.54 9.63
640 to 659 212 14,056,108.26 9.89
660 to 679 209 12,430,449.18 8.74
680 to 699 140 9,028,622.53 6.35
700 to 719 102 6,056,047.38 4.26
720 to 739 73 4,681,454.45 3.29
740 to 759 46 2,793,094.17 1.96
760 to 779 30 1,686,072.49 1.19
780 to 799 28 1,601,170.71 1.13
800 + 6 389,639.50 0.27
- ---------- ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Credit Score of the Borrower of the
Mortgage Loans having Credit Scores in Loan Group I is approximately 613.
Property Type
<TABLE>
<CAPTION>
--------------------- ---------------------------
---------------------- Percent of
Number of ------------------------ Mortgage Loans
Property Type Mortgage Loans Principal Balance by Principal Balance
-------------------------- ---------------------- ------------------------ ---------------------------
<S> <C> <C> <C>
Single Family 1,812 $108,678,898.66 76.44%
Manufactured Housing 336 24,697,857.45 17.37
2-4 Family 80 4,798,751.69 3.38
PUD 17 1,783,370.04 1.25
Condo 20 1,012,667.07 0.71
Townhouse 24 1,203,827.39 0.85
-- ------------ ----
Total 2,289 $142,175,372.30 100.00%
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 23
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
COLLATERAL SUMMARY
Loan Group II
<TABLE>
<S> <C>
Cut-Off Date 11/1/00
Total Outstanding Balance: $96,905,349.98
Number of Loans: 1,981
Average Remaining Balance: $48,917.39 (range: $680.39 - $417,318.51)
Loan Type: 100.00% fixed-rate loans
WA Gross Coupon: 10.29% (range: 6.15% - 16.00%)
Original Weighted Average Term: 284 months (range: 30 - 429 months)
Remaining Weighted Average Term: 263 months (range: 3 - 355 months)
Lien Position: 96.17% first, 3.83% second
WA LTV Ratio: 81.71%
WA Credit Score: 610
Documentation: 89.43% full,
8.36% alt/lite,
1.03% income only,
0.75% no income no asset,
0.43% unknown.
Property Type: 84.80% single family,
5.17% manufactured housing,
4.93% land,
2.80% 2-4 family,
1.19% PUD,
0.72% condo,
0.38% townhouse.
Owner Occupancy: 98.83% owner occupied,
1.17% non-owner occupied.
Loan Purpose: 93.36% cash-out refi,
6.44% purchase,
0.20% unknown.
Geographic Distribution: NC (8.64%), CA (7.99%), LA (7.48%),
(all states >=5.00%) NY (6.79%), OH (6.24%)
Deliquency Status 31-60 days 3.34%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 24
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Loan Group II - Characteristics
--------------------------------------------------------------------------------
Set forth below is a description of certain characteristics of the Mortgage
Loans in Loan Group II as of the Cut-Off Date. Unless otherwise specified, all
principal balances of the Mortgage Loans in Loan Group II are as of the Cut-Off
Date and all percentages are approximate percentages by aggregate principal
balance as of the Cut-Off Date (except as indicated otherwise).
--------------------------------------------------------------------------------
Outstanding Principal Balances
<TABLE>
<CAPTION>
--------------------------------------------
-------------------------------------------- -----------------------------
-------------------------------------------- Percent of
-------------------------------------------- Number of Mortgage Loans
Range of Principal Balances ($) Mortgage Loans Principal Balance by Principal Balance
-------------------------------------------- ---------------- --------------------- -----------------------------
<S> <C> <C> <C>
$0.01 to $25,000.00 504 $8,570,250.37 8.84%
$25,000.01 to $50,000.00 718 26,177,420.80 27.01
$50,000.01 to $75,000.00 470 28,553,557.70 29.47
$75,000.01 to $100,000.00 167 14,176,295.52 14.63
$100,000.01 to $125,000.00 63 7,016,157.29 7.24
$125,000.01 to $150,000.00 19 2,569,224.46 2.65
$150,000.01 to $175,000.00 7 1,116,590.93 1.15
$175,000.01 to $200,000.00 6 1,099,817.02 1.13
$200,000.01 to $225,000.00 4 856,843.35 0.88
$225,000.01 to $250,000.00 2 465,071.09 0.48
$250,000.01 to $275,000.00 8 2,076,945.22 2.14
$275,000.01 to $300,000.00 6 1,697,534.15 1.75
$300,000.01 to $325,000.00 2 631,900.98 0.65
$325,000.01 to $350,000.00 1 326,776.06 0.34
$350,000.01 to $375,000.00 1 351,369.43 0.36
$375,000.01 to $400,000.00 1 399,175.03 0.41
$400,000.01 + $425,000.00 2 820,420.58 0.85
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
As of the Cut-Off Date, the average Principal Balance of the Mortgage Loans in
Loan Group II is approximately $48,917.39.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 25
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Combined Loan-to-Value Ratios
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- --- ----------------------------
-------------------------------- Percent of
Range of Combined Number of Mortgage Loans
Loan-to-Value Ratios (%) Mortgage Loans Principal Balance by Principal Balance
-------------------------------- ---------------------- ----------------------- --------------------------------
<S> <C> <C> <C>
5.01% to 10.00% 2 $15,304.61 0.02%
10.01% to 20.00% 11 188,915.58 0.19
20.01% to 25.00% 10 216,999.90 0.22
25.01% to 30.00% 13 237,806.62 0.25
30.01% to 40.00% 41 831,315.87 0.86
40.01% to 50.00% 89 2,415,888.51 2.49
50.01% to 60.00% 129 4,076,531.90 4.21
60.01% to 70.00% 174 6,299,724.81 6.50
70.01% to 80.00% 452 19,957,879.84 20.60
80.01% to 90.00% 637 37,639,207.48 38.84
90.01% to 100.00% 411 24,634,313.74 25.42
100.01% to 110.00% 8 211,353.04 0.22
110.01% to 120.00% 2 64,153.48 0.07
120.01% to 125.00% 2 115,954.60 0.12
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Combined Loan-to-Value Ratio of the
Mortgage Loans in Loan Group II is approximately 81.71%.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 26
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Geographical Distributions
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- ---------------------- --------------------------------
-------------------------------- ---------------------- Percent of
-------------------------------- Number of ----------------------- Mortgage Loans
Location Mortgage Loans Principal Balance by Principal Balance
-------------------------------- ---------------------- ----------------------- --------------------------------
<S> <C> <C> <C>
North Carolina 161 $8,373,994.65 8.64%
California 77 7,746,251.37 7.99
Louisiana 182 7,250,619.52 7.48
New York 139 6,580,381.23 6.79
Ohio 133 6,045,915.07 6.24
Michigan 126 4,580,387.97 4.73
Indiana 92 4,240,414.82 4.38
Pennsylvania 84 4,197,813.88 4.33
Tennessee 90 4,136,234.11 4.27
Mississippi 97 3,719,994.14 3.84
Kentucky 84 3,296,160.49 3.40
Maine 46 2,815,090.52 2.90
Oklahoma 81 2,697,690.58 2.78
Georgia 55 2,434,437.32 2.51
Iowa 48 2,370,847.63 2.45
Illinois 60 2,226,619.00 2.30
Florida 43 2,107,596.64 2.17
Other 383 22,084,901.04 22.79
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
The reference to "Other" in the preceding table includes states and the
District of Columbia that contain mortgaged properties for which the Principal
Balance is less than 2.00% of the total Principal Balance of Loan Group II as
of the Cut-Off Date.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 27
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Current Gross Coupon
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- -------------------------------
-------------------------------- Percent of
-------------------------------- Number of Mortgage Loans
Range of Coupons (%) Mortgage Loans Principal Balance by Principal Balance
-------------------------------- --------------------- ----------------------- -------------------------------
<S> <C> <C> <C>
6.001% to 6.500% 3 $270,516.83 0.28%
6.501% to 7.000% 39 2,948,174.09 3.04
7.001% to 7.500% 4 230,514.78 0.24
7.501% to 8.000% 5 256,772.89 0.26
8.001% to 8.500% 34 2,695,817.59 2.78
8.501% to 9.000% 177 13,683,377.86 14.12
9.001% to 9.500% 253 15,621,033.14 16.12
9.501% to 10.000% 290 16,162,883.93 16.68
10.001% to 10.500% 186 10,009,994.04 10.33
10.501% to 11.000% 157 8,150,340.41 8.41
11.001% to 11.500% 169 6,315,796.11 6.52
11.501% to 12.000% 231 8,456,975.41 8.73
12.001% to 12.500% 53 1,897,506.81 1.96
12.501% to 13.000% 215 5,468,288.52 5.64
13.001% to 13.500% 73 2,607,211.82 2.69
13.501% to 14.000% 31 810,393.26 0.84
14.001% to 14.500% 18 401,913.15 0.41
14.501% to 15.000% 22 370,773.53 0.38
15.001% to 15.500% 19 505,680.68 0.52
15.501% to 16.000% 2 41,385.13 0.04
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average current gross coupon of the
Mortgage Loans in Loan Group II is approximately 10.29%.
Months Remaining to Stated Maturity
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- -------------------------------
-------------------------------- Percent of
-------------------------------- Number of Mortgage Loans
Range of Remaining Terms Mortgage Loans Principal Balance by Principal Balance
-------------------------------- -------------------- --------------------- -------------------------------
<S> <C> <C> <C>
1 to 48 44 $408,108.68 0.42%
49 to 60 7 76,010.96 0.08
61 to 120 254 5,367,192.39 5.54
121 to 180 733 26,660,296.27 27.51
181 to 240 169 8,158,136.44 8.42
241 to 300 20 1,132,146.07 1.17
301 to 360 754 55,103,459.17 56.86
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average months remaining to scheduled
maturity of the Mortgage Loans in Loan Group II is approximately 263 months.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 28
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Lien Position
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- -------------------------------
-------------------------------- Percent of
-------------------------------- Number of Mortgage Loans
Lien Position Mortgage Loans Principal Balance by Principal Balance
-------------------------------- ------------------------ ----------------------- -------------------------------
<S> <C> <C> <C>
First 1,814 $93,196,824.42 96.17%
Second 167 3,708,525.56 3.83
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
Occupancy Types
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- -------------------------------
-------------------------------- Percent of
Occupancy Number of ----------------------- Mortgage Loans
(as indicated by Borrower) Mortgage Loans Principal Balance by Principal Balance
-------------------------------- ------------------------- ----------------------- -------------------------------
<S> <C> <C> <C>
Owner Occupied 1,944 $95,772,076.86 98.83%
Investment 36 1,082,370.16 1.12
Second Home 1 50,902.96 0.05
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
Loan Purpose
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- -------------------------------
-------------------------------- Percent of
-------------------------------- Number of ----------------------- Mortgage Loans
Loan Purpose Mortgage Loans Principal Balance by Principal Balance
-------------------------------- ------------------------- ----------------------- --------------------------------
<S> <C> <C> <C>
Cash-Out Refi 1,883 $90,472,384.14 93.36%
Purchase 90 6,243,708.75 6.44
Unknown 8 189,257.09 0.20
----- -------------- ----
Total 1,981 $96,905,349.98 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 29
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Credit Scores
<TABLE>
<CAPTION>
--------------------------------
-------------------------------- --------------------------------
-------------------------------- Percent of
-------------------------------- Number of Mortgage Loans
Range of Credit Scores Mortgage Loans Principal Balance by Principal Balance
-------------------------------- ------------------------- ----------------------- --------------------------------
<S> <C> <C> <C>
Not Available 45 $1,333,486.32 1.38%
1 to 499 113 5,439,227.32 5.61
500 to 519 134 5,513,082.75 5.69
520 to 539 164 7,802,962.38 8.05
540 to 559 150 6,992,635.10 7.22
560 to 579 165 8,339,113.38 8.61
580 to 599 170 8,382,162.12 8.65
600 to 619 168 8,112,181.25 8.37
620 to 639 186 8,912,060.17 9.20
640 to 659 207 10,399,068.51 10.73
660 to 679 167 8,844,988.44 9.13
680 to 699 106 5,724,846.08 5.91
700 to 719 105 6,068,517.88 6.26
720 to 739 39 1,982,918.80 2.05
740 to 759 39 1,896,426.31 1.96
760 to 779 14 774,179.19 0.80
780 to 799 6 260,884.62 0.27
800 + 3 126,609.36 0.13
----- -------------- ----
Total 1,981 $96,905,349.98 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Credit Score of the Borrower of
the Mortgage Loans having Credit Scores in Loan Group II is approximately
610.
Property Type
<TABLE>
<CAPTION>
-------------------------
------------------------- Percent of
Number of ----------------------- Mortgage Loans
Property Type Mortgage Loans Principal Balance by Principal Balance
-------------------------------- ------------------------- ----------------------- --------------------------------
<S> <C> <C> <C>
Single Family 1,673 $82,179,088.87 84.80%
Manufactured Housing 155 5,014,341.01 5.17
Land 66 4,782,021.60 4.93
2-4 Family 62 2,708,964.39 2.80
PUD 6 1,155,607.05 1.19
Condo 10 693,488.73 0.72
Townhouse 9 371,838.33 0.38
----- -------------- ------
Total 1,981 $96,905,349.98 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 30
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
COLLATERAL SUMMARY
Loan Group III
<TABLE>
<S> <C>
Cut-Off Date 11/1/00
Total Outstanding Balance: $53,337,865.09
Number of Loans: 615
Average Remaining Balance: $86,728.24 (range: $10,840.30 - $485,753.82)
WA Gross Coupon: 10.55% (range: 7.99% - 15.58%)
WA Gross Margin 6.09% (range: 3.20% - 8.15%)
WA Max Loan Rate 16.27% (range: 11.63% - 21.58%)
Original Weighted Average Term: 350 months (range: 120 - 360 months)
Remaining Weighted Average Term: 332 months (range: 98 - 355 months)
Lien Position: 100.00% first
WA LTV Ratio: 81.86%
WA Credit Score: 588
Documentation: 82.59% full,
9.10% alt/lite,
6.88% no income no asset,
1.27% income only,
0.16% unknown.
Property Type: 89.20% single family,
3.36% 2-4 Family,
3.27% PUD,
1.89% manufactured housing,
1.70% condo,
0.57% townhouse.
Owner Occupancy: 96.87% owner occupied,
3.13% non-owner occupied.
Loan Purpose: 63.72% cash-out refi,
29.08% purchase,
7.03% rate/term refi,
0.17% unknown.
Geographic Distribution: GA (10.14%), CA (9.47%),
(all states >= 5.00%) OH (5.39%), MI (5.07%)
Deliquency Status 5.32% 31-60 days
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 31
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Loan Group III - Characteristics
--------------------------------------------------------------------------------
Set forth below is a description of certain characteristics of the Mortgage
Loans in Loan Group III as of the Cut-Off Date. Unless otherwise specified, all
principal balances of the Mortgage Loans in Loan Group II are as of the Cut-Off
Date and all percentages are approximate percentages by aggregate principal
balance as of the Cut-Off Date (except as indicated otherwise).
--------------------------------------------------------------------------------
Outstanding Principal Balances
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- -----------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Range of Principal Balances ($) Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
$0.01 to $25,000.00 39 $814,072.44 1.53%
$25,000.01 to $50,000.00 122 4,674,049.03 8.76
$50,000.01 to $75,000.00 183 11,350,555.21 21.28
$75,000.01 to $100,000.00 98 8,566,755.38 16.06
$100,000.01 to $125,000.00 57 6,407,728.31 12.01
$125,000.01 to $150,000.00 45 6,115,213.99 11.47
$150,000.01 to $175,000.00 21 3,353,574.01 6.29
$175,000.01 to $200,000.00 17 3,185,774.65 5.97
$200,000.01 to $225,000.00 12 2,550,932.28 4.78
$225,000.01 to $250,000.00 7 1,641,479.01 3.08
$250,000.01 to $275,000.00 2 536,288.50 1.01
$275,000.01 to $300,000.00 5 1,449,894.01 2.72
$300,000.01 + 7 2,691,548.27 5.05
--- -------------- -------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the average Principal Balance of the Mortgage Loans in
Loan Group III is approximately $86,728.24.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 32
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Combined Loan-to-Value Ratios
<TABLE>
<CAPTION>
-----------------------------------------
-----------------------------------------
----------------------------------------- Percent of
Range of Combined Number of Mortgage Loans
Loan-to-Value Ratios (%) Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
10.01% to 20.00% 1 $23,762.91 0.04%
20.01% to 30.00% 3 204,359.80 0.38
30.01% to 40.00% 2 58,773.01 0.11
40.01% to 50.00% 7 324,747.57 0.61
50.01% to 60.00% 16 948,418.19 1.78
60.01% to 70.00% 62 4,454,713.30 8.35
70.01% to 80.00% 214 19,321,436.78 36.22
80.01% to 90.00% 215 19,884,644.93 37.28
90.01% to 100.00% 90 7,767,653.51 14.56
100.01% to 110.00% 4 250,639.93 0.47
110.01% to 120.00% 1 98,715.16 0.19
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Combined Loan-to-Value Ratio of the
Mortgage Loans in Loan Group III is approximately 81.86%.
Geographical Distributions
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- ---------------- -----------------------
----------------------------------------- ---------------- Percent of
----------------------------------------- Number of --------------------- Mortgage Loans
Location Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
Georgia $47 5,409,549.55 10.14%
California 37 5,051,463.82 9.47
Ohio 47 2,872,653.20 5.39
Michigan 40 2,703,060.69 5.07
Florida 23 2,600,596.00 4.88
Indiana 40 2,426,276.82 4.55
Washington 17 2,252,572.42 4.22
Texas 18 1,906,927.29 3.58
North Carolina 21 1,709,884.74 3.21
Louisiana 20 1,678,719.25 3.15
New Jersey 13 1,635,255.76 3.07
Tennessee 24 1,625,063.94 3.05
Utah 15 1,517,184.73 2.84
Mississippi 20 1,412,378.78 2.65
New York 10 1,351,030.95 2.53
Illinois 20 1,297,538.83 2.43
Colorado 11 1,197,721.18 2.25
Minnesota 11 1,199,388.77 2.25
Other 181 13,490,598.37 25.29
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
The reference to "Other" in the preceding table includes states and the District
of Columbia that contain mortgaged properties for which the Principal Balance is
less than 2.00% of the total Principal Balance of Loan Group III as of the
Cut-Off Date.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 33
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Current Gross Coupon
<TABLE>
<CAPTION>
-----------------------------------------
-----------------------------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Range of Coupons (%) Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
7.501% to 8.000% 3 $777,296.95 1.46%
8.001% to 8.500% 6 516,853.35 0.97
8.501% to 9.000% 23 2,736,477.51 5.13
9.001% to 9.500% 46 5,422,506.39 10.17
9.501% to 10.000% 85 8,369,842.61 15.69
10.001% to 10.500% 122 10,864,807.45 20.37
10.501% to 11.000% 121 11,471,960.09 21.51
11.001% to 11.500% 62 5,099,082.60 9.56
11.501% to 12.000% 54 3,463,491.91 6.49
12.001% to 12.500% 18 1,025,917.08 1.92
12.501% to 13.000% 43 2,049,321.42 3.84
13.001% to 13.500% 16 763,413.43 1.43
13.501% to 14.000% 4 159,640.20 0.30
14.001% to 14.500% 6 305,381.58 0.57
14.501% to 15.000% 4 221,586.04 0.42
15.001% to 15.500% 1 59,760.39 0.11
15.501% to 16.000% 1 30,526.09 0.06
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average current gross coupon of the
Mortgage Loans in Loan Group II is approximately 10.55%.
Months Remaining to Stated Maturity
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- -----------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Range of Remaining Terms Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
61 to 120 2 $25,510.83 0.05%
121 to 180 46 1,759,944.13 3.30
181 to 240 33 1,611,147.55 3.02
241 to 300 3 245,272.59 0.46
301 to 360 531 49,695,989.99 93.17
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average months remaining to scheduled
maturity of the Mortgage Loans in Loan Group III is approximately 332 months.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 34
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Lien Position
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- -----------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Lien Position Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
First 615 $53,337,865.09 100.00%
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
Occupancy Types
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- -----------------------
----------------------------------------- Percent of
Occupancy Number of --------------------- Mortgage Loans
(as indicated by Borrower) Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
Owner Occupied 583 $51,667,020.03 96.87%
Investment 30 1,607,166.33 3.01
Unknown 1 40,589.09 0.08
Second Home 1 23,089.64 0.04
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
Loan Purpose
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- -----------------------
----------------------------------------- Percent of
----------------------------------------- Number of --------------------- Mortgage Loans
Loan Purpose Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
Cash-Out Refi 421 $33,988,115.68 63.72%
Purchase 157 15,510,806.39 29.08
Rate/Term Refi 35 3,748,293.77 7.03
Unknown 2 90,649.25 0.17
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 35
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Credit Scores
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- -----------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Range of Credit Scores Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
Not Available 15 $1,170,519.74 2.19%
1 To 499 40 2,808,424.56 5.27
500 To 519 49 4,179,002.46 7.83
520 To 539 64 5,521,248.43 10.35
540 To 559 66 5,546,646.32 10.40
560 To 579 72 6,893,308.03 12.92
580 To 599 67 6,150,185.75 11.53
600 To 619 63 5,201,705.26 9.75
620 To 639 65 5,601,971.80 10.50
640 To 659 36 3,035,294.63 5.69
660 To 679 31 2,924,525.38 5.48
680 To 699 19 1,961,958.72 3.68
700 To 719 12 902,083.07 1.69
720 To 739 13 1,262,982.44 2.37
740 To 759 1 90,131.03 0.17
760 To 779 2 87,877.47 0.16
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average Credit Score of the Borrower of the
Mortgage Loans having Credit Scores in Loan Group III is approximately 588.
Property Type
<TABLE>
<CAPTION>
---------------- -----------------------
---------------- Percent of
Number of --------------------- Mortgage Loans
Property Type Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
Single Family 549 $47,574,952.49 89.20%
2-4 Family 22 1,794,467.62 3.36
PUD 15 1,746,626.27 3.27
Manufactured Housing 12 1,009,493.93 1.89
Condo 12 908,536.39 1.70
Townhouse 5 303,788.39 0.57
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 36
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Gross Coupon Margin
<TABLE>
<CAPTION>
-----------------------------------------
-----------------------------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Range of Margins (%) Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
0.001% to 4.000% 51 $4,014,168.49 7.53%
4.001% to 5.000% 90 7,195,488.04 13.49
5.001% to 6.000% 158 11,703,833.03 21.94
6.001% to 7.000% 198 17,966,632.72 33.68
7.001% to 8.000% 116 12,334,904.56 23.13
8.001% to 9.000% 2 122,838.25 0.23
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average gross coupon margin of the Mortgage
Loans in Loan Group III is approximately 6.09%.
Next Adjustment Date
<TABLE>
<CAPTION>
-----------------------------------------
----------------------------------------- ---------------- -----------------------
----------------------------------------- ---------------- Percent of
----------------------------------------- Number of --------------------- Mortgage Loans
Month Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
Dec-00 7 $440,406.46 0.83%
Jan-01 17 1,480,135.87 2.78
Feb-01 53 3,335,250.95 6.25
Mar-01 46 3,964,405.84 7.43
Apr-01 13 1,189,295.67 2.23
May-01 16 1,177,250.46 2.21
Jun-01 15 1,233,875.18 2.31
Jul-01 13 1,411,623.94 2.65
Aug-01 16 2,301,789.11 4.32
Sep-01 20 1,906,233.21 3.57
Oct-01 15 1,403,734.40 2.63
Nov-01 33 2,943,605.15 5.52
Dec-01 17 2,461,795.94 4.62
Jan-02 27 2,314,618.12 4.34
Feb-02 131 10,518,535.77 19.72
Mar-02 77 6,102,407.33 11.44
Apr-02 27 1,911,592.83 3.58
May-02 13 1,040,672.45 1.95
Jun-02 6 701,083.13 1.31
Jul-02 3 418,282.40 0.78
Aug-02 6 688,844.21 1.29
Sep-02 4 294,168.81 0.55
Oct-02 5 517,582.22 0.97
Nov-02 5 655,828.84 1.23
Dec-02 5 534,992.23 1.00
Jan-03 3 220,980.58 0.41
Feb-03 6 789,392.68 1.48
Mar-03 5 442,599.84 0.83
Apr-03 4 460,890.94 0.86
May-03 6 449,049.21 0.84
Jun-03 1 26,941.32 0.05
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 37
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
--------------------------------------------------------------------------------
Maximum Rate
<TABLE>
<CAPTION>
-----------------------------------------
-----------------------------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Maximum Rates (%) Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
1.000% to 12.000% 1 $107,813.03 0.20%
13.001% to 14.000% 13 2,147,452.81 4.03
14.001% to 15.000% 42 4,157,861.59 7.80
15.001% to 16.000% 162 15,532,549.96 29.12
16.001% to 17.000% 241 21,298,868.11 39.93
17.001% to 18.000% 106 7,710,273.27 14.46
18.001% to 19.000% 37 1,838,776.83 3.45
19.001% to 20.000% 8 342,556.45 0.64
20.001% to 21.000% 3 111,426.56 0.21
21.001% to 22.000% 2 90,286.48 0.17
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average maximum coupon rate of the Mortgage
Loans in Loan Group III is approximately 16.27%.
Minimum Rate
<TABLE>
<CAPTION>
-----------------------------------------
-----------------------------------------
----------------------------------------- Percent of
----------------------------------------- Number of Mortgage Loans
Minimum Rates (%) Mortgage Loans Principal Balance by Principal Balance
----------------------------------------- ---------------- --------------------- -----------------------
<S> <C> <C> <C>
1.000% to 5.000% 1 $52,630.63 0.10%
5.001% to 6.000% 9 1,425,756.07 2.67
6.001% to 7.000% 30 2,217,412.26 4.16
7.001% to 8.000% 116 10,255,028.79 19.23
8.001% to 9.000% 144 12,430,774.26 23.31
9.001% to 10.000% 111 10,183,442.55 19.09
10.001% to 11.000% 140 11,894,607.95 22.30
11.001% to 12.000% 47 3,971,125.84 7.45
12.001% to 13.000% 9 572,532.69 1.07
13.001% to 14.000% 3 132,841.01 0.25
14.001% to 15.000% 3 111,426.56 0.21
15.001% to 16.000% 2 90,286.48 0.17
--- -------------- ------
Total 615 $53,337,865.09 100.00%
</TABLE>
As of the Cut-Off Date, the weighted average minimum coupon rate of the Mortgage
Loans in Loan Group III is approximately 9.18%.
--------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 38
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
SENSITIVITY TABLES (TO CALL)
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Class AF-1 (to call)
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 13.44 5.75 4.07 3.27 2.52 2.05
Modified Duration (years) 7.46 4.00 3.08 2.58 2.08 1.73
First Principal Payment 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment 7/25/27 12/25/16 8/25/12 5/25/10 5/25/08 3/25/07
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 320 193 141 114 90 76
Illustrative Yield @ Par (30/360) 7.52% 7.46% 7.43% 7.39% 7.35% 7.30%
------------------------------------------------------------------------------------------------------------------------------
Class AF-2 (to call)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 6.00 1.82 1.26 1.00 0.79 0.67
Modified Duration (years) 4.53 1.62 1.15 0.93 0.74 0.63
First Principal Payment 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment 12/25/11 11/25/04 8/25/03 1/25/03 7/25/02 4/25/02
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 133 48 33 26 20 17
Illustrative Yield @ Par (30/360) 6.96% 6.96% 6.95% 6.95% 6.95% 6.95%
------------------------------------------------------------------------------------------------------------------------------
Class AF-3 (to call)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 13.08 5.30 3.74 3.00 2.24 1.89
Modified Duration (years) 8.12 4.23 3.15 2.59 2.00 1.71
First Principal Payment 12/25/11 11/25/04 8/25/03 1/25/03 7/25/02 4/25/02
Last Principal Payment 12/25/16 4/25/08 4/25/06 4/25/05 9/25/03 4/25/03
Principal Lockout (months) 132 47 32 25 19 16
Principal Window (months) 61 42 33 28 15 13
Illustrative Yield @ Par (30/360) 7.39% 7.34% 7.30% 7.26% 7.21% 7.17%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 39
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
SENSITIVITY TABLES (TO CALL)
<TABLE>
<CAPTION>
Class AF-4 (to call)
<S> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 21.42 12.18 9.00 7.22 5.60 4.05
Modified Duration (years) 9.99 7.46 6.16 5.27 4.33 3.29
First Principal Payment 12/25/16 4/25/08 4/25/06 4/25/05 9/25/03 4/25/03
Last Principal Payment 7/25/27 12/25/16 8/25/12 5/25/10 5/25/08 3/25/07
Principal Lockout (months) 192 88 64 52 33 28
Principal Window (months) 128 105 77 62 57 48
Illustrative Yield @ Par (30/360) 7.89% 7.87% 7.85% 7.84% 7.82% 7.78%
------------------------------------------------------------------------------------------------------------------------------
Class A-IO (to call)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 2.49 2.49 2.49 2.49 2.49 2.49
Modified Duration (years) 2.99 2.99 2.99 2.99 2.99 2.99
First Principal Payment 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03
Last Principal Payment 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03
Principal Lockout (months) 29 29 29 29 29 29
Principal Window (months) 1 1 1 1 1 1
Illustrative Yield @ Par (30/360) -81.77% -81.77% -81.77% -81.77% -81.77% -81.77%
------------------------------------------------------------------------------------------------------------------------------
Class AV-1 (to call)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 19.95 3.87 2.48 1.74 1.28 1.00
Modified Duration (years) 9.93 3.02 2.09 1.53 1.16 0.92
First Principal Payment 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment 7/25/27 12/25/15 5/25/10 2/25/07 5/25/05 6/25/03
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 320 181 114 75 54 31
Illustrative Yield @ Par (30/360) 7.07% 7.07% 7.06% 7.06% 7.06% 7.06%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 40
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
SENSITIVITY TABLES (TO CALL)
<TABLE>
<CAPTION>
Class M-1 (to call)
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 23.43 10.93 7.83 6.23 5.16 4.90
Modified Duration (years) 10.16 6.82 5.46 4.61 4.02 3.89
First Principal Payment 4/25/18 6/25/06 9/25/04 12/25/03 5/25/04 10/25/04
Last Principal Payment 7/25/27 12/25/16 8/25/12 5/25/10 5/25/08 3/25/07
Principal Lockout (months) 208 66 45 36 41 46
Principal Window (months) 112 127 96 78 49 30
Illustrative Yield @ Par (30/360) 8.12% 8.10% 8.08% 8.06% 8.04% 8.04%
------------------------------------------------------------------------------------------------------------------------------
Class M-2 (to call)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 23.43 10.93 7.83 6.23 5.06 4.57
Modified Duration (years) 9.95 6.73 5.40 4.57 3.92 3.64
First Principal Payment 4/25/18 6/25/06 9/25/04 12/25/03 3/25/04 5/25/04
Last Principal Payment 7/25/27 12/25/16 8/25/12 5/25/10 5/25/08 3/25/07
Principal Lockout (months) 208 66 45 36 39 41
Principal Window (months) 112 127 96 78 51 35
Illustrative Yield @ Par (30/360) 8.37% 8.34% 8.32% 8.30% 8.28% 8.27%
------------------------------------------------------------------------------------------------------------------------------
Class B (to call)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 23.43 10.93 7.83 6.23 5.01 4.43
Modified Duration (years) 9.37 6.49 5.24 4.46 3.80 3.47
First Principal Payment 4/25/18 6/25/06 9/25/04 12/25/03 1/25/04 2/25/04
Last Principal Payment 7/25/27 12/25/16 8/25/12 5/25/10 5/25/08 3/25/07
Principal Lockout (months) 208 66 45 36 37 38
Principal Window (months) 112 127 96 78 53 38
Illustrative Yield @ Par (30/360) 9.11% 9.08% 9.06% 9.04% 9.01% 9.00%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 41
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
SENSITIVITY TABLES (TO MATURITY)
<TABLE>
<CAPTION>
Class AF-1 (to maturity)
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 13.46 6.26 4.55 3.69 2.88 2.37
Modified Duration (years) 7.46 4.13 3.24 2.75 2.25 1.91
First Principal Payment 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment 8/25/28 11/25/27 12/25/24 6/25/21 8/25/17 3/25/15
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 333 324 289 247 201 172
Illustrative Yield @ Par (30/360) 7.52% 7.48% 7.46% 7.44% 7.40% 7.37%
------------------------------------------------------------------------------------------------------------------------------
Class AF-2 (to maturity)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 6.00 1.82 1.26 1.00 0.79 0.67
Modified Duration (years) 4.53 1.62 1.15 0.93 0.74 0.63
First Principal Payment 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment 12/25/11 11/25/04 8/25/03 1/25/03 7/25/02 4/25/02
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 133 48 33 26 20 17
Illustrative Yield @ Par (30/360) 6.96% 6.96% 6.95% 6.95% 6.95% 6.95%
------------------------------------------------------------------------------------------------------------------------------
Class AF-3 (to maturity)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 13.08 5.30 3.74 3.00 2.24 1.89
Modified Duration (years) 8.12 4.23 3.15 2.59 2.00 1.71
First Principal Payment 12/25/11 11/25/04 8/25/03 1/25/03 7/25/02 4/25/02
Last Principal Payment 12/25/16 4/25/08 4/25/06 4/25/05 9/25/03 4/25/03
Principal Lockout (months) 132 47 32 25 19 16
Principal Window (months) 61 42 33 28 15 13
Illustrative Yield @ Par (30/360) 7.39% 7.34% 7.30% 7.26% 7.21% 7.17%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 42
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
SENSITIVITY TABLES (TO MATURITY)
<TABLE>
<CAPTION>
Class AF-4 (to maturity)
<S> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 21.42 12.88 9.49 7.53 5.85 4.18
Modified Duration (years) 9.99 7.64 6.33 5.40 4.46 3.36
First Principal Payment 12/25/16 4/25/08 4/25/06 4/25/05 9/25/03 4/25/03
Last Principal Payment 7/25/27 7/25/23 12/25/17 11/25/13 4/25/11 1/25/09
Principal Lockout (months) 192 88 64 52 33 28
Principal Window (months) 128 184 141 104 92 70
Illustrative Yield @ Par (30/360) 7.89% 7.88% 7.87% 7.85% 7.84% 7.80%
------------------------------------------------------------------------------------------------------------------------------
Class A-IO (to maturity)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 2.49 2.49 2.49 2.49 2.49 2.49
Modified Duration (years) 2.99 2.99 2.99 2.99 2.99 2.99
First Principal Payment 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03
Last Principal Payment 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03 5/25/03
Principal Lockout (months) 29 29 29 29 29 29
Principal Window (months) 1 1 1 1 1 1
Illustrative Yield @ Par (30/360) -81.77% -81.77% -81.77% -81.77% -81.77% -81.77%
------------------------------------------------------------------------------------------------------------------------------
Class AV-1 (to maturity)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 20.18 3.87 2.48 1.74 1.28 1.00
Modified Duration (years) 9.97 3.02 2.09 1.53 1.16 0.92
First Principal Payment 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00 12/25/00
Last Principal Payment 2/25/29 12/25/15 5/25/10 2/25/07 5/25/05 6/25/03
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 339 181 114 75 54 31
Illustrative Yield @ Par (30/360) 7.07% 7.07% 7.06% 7.06% 7.06% 7.06%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 43
<PAGE>
Computational Materials for
[BEAR STEARNS LOGO] Bear Stearns Asset Backed Securities, Inc.
Asset-Backed Certificates, Series 2000-2
-------------------------------------------------------------------------------
SENSITIVITY TABLES (TO MATURITY)
<TABLE>
<CAPTION>
Class M-1 (to maturity)
<S> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 23.59 11.83 8.61 6.88 5.71 5.39
Modified Duration (years) 10.18 7.02 5.70 4.86 4.27 4.14
First Principal Payment 4/25/18 6/25/06 9/25/04 12/25/03 5/25/04 10/25/04
Last Principal Payment 1/25/29 10/25/26 8/25/22 11/25/18 5/25/15 4/25/13
Principal Lockout (months) 208 66 45 36 41 46
Principal Window (months) 130 245 216 180 133 103
Illustrative Yield @ Par (30/360) 8.12% 8.11% 8.10% 8.09% 8.08% 8.08%
------------------------------------------------------------------------------------------------------------------------------
Class M-2 (to maturity)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 23.59 11.80 8.57 6.84 5.58 5.02
Modified Duration (years) 9.97 6.92 5.63 4.80 4.15 3.87
First Principal Payment 4/25/18 6/25/06 9/25/04 12/25/03 3/25/04 5/25/04
Last Principal Payment 12/25/28 12/25/25 4/25/21 8/25/17 4/25/14 6/25/12
Principal Lockout (months) 208 66 45 36 39 41
Principal Window (months) 129 235 200 165 122 98
Illustrative Yield @ Par (30/360) 8.37% 8.36% 8.35% 8.33% 8.32% 8.31%
------------------------------------------------------------------------------------------------------------------------------
Class B (to maturity)
------------------------------------------------------------------------------------------------------------------------------
Group I (Fixed Rate) - CPR 0% 9% 14% 18% 23% 27%
Group II (ARMs) - CPR 0% 14% 21% 28% 35% 42%
------------------------------------------------------------------------------------------------------------------------------
Average Life (years) 23.58 11.71 8.46 6.75 5.46 4.82
Modified Duration (years) 9.39 6.63 5.42 4.64 4.00 3.66
First Principal Payment 4/25/18 6/25/06 9/25/04 12/25/03 1/25/04 2/25/04
Last Principal Payment 10/25/28 9/25/24 6/25/19 1/25/16 2/25/13 5/25/11
Principal Lockout (months) 208 66 45 36 37 38
Principal Window (months) 127 220 178 146 110 88
Illustrative Yield @ Par (30/360) 9.11% 9.08% 9.06% 9.05% 9.03% 9.02%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------------------------------------------------------------
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
Page 44
