<PAGE>
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 27, 1996
Prudential Securities Secured Financing Corporation
-------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 33-91148 13-3526694
- ----------------------------- ----------------- -----------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
One New York Plaza
New York, New York 10292
(Address of Principal ------------------
Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 214-7435
---------------
No Change
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
- --------------------------------------------------------------------------------
<PAGE>
Item 5. OTHER EVENTS
In connection with the offering of ABFS Mortgage Loan Trust 1996-2,
Mortgage Pass-Through Certificates, Series 1996-2, described in a Prospectus
Supplement dated as of September 12, 1996, certain "Computational Materials"
within the meanings of the May 20, 1994 Kidder, Peabody No-Action Letter and
the February 17, 1995 Public Securities Association No-Action Letter were
furnished to certain prospective investors (the "Related Computational
Materials").
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibit 99.1. Related Computational Materials (as defined in Item 5
above).
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this Report
to be signed on its behalf by the undersigned thereunto duly authorized.
PRUDENTIAL SECURITIES SECURED FINANCING
CORPORATION
---------------------------------------
as Depositor and on behalf of ABFS
Mortgage Loan Trust 1996-2
Registrant
By: /s/ Norman Chaleff
----------------------------
Name: Norman Chaleff
Title: Vice President
Dated: September 27, 1996
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
- ----------- ------------ --------
99.1 Related Computational 6
Materials (as defined
in Item 5 above).
<PAGE>
EXHIBIT 99.1
<PAGE>
American Business Financial Services 1996-2
[$38,799,000] Class A Fixed-Rate Certificates
The information provided herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the American Business Financial Services
Mortgage Loan Trust 1996-2 transaction, and not by, or as agent for American
Business financial Services, Inc. ("ABFS" or the "Seller") or any of its
affiliates. The analysis in this report is accurate to the best of PSI's
knowledge and is based on information provided by the Seller. PSI makes no
representations as to the accuracy of such information provided to it by the
Seller. All assumptions and information in this report reflect PSI's judgment
as of this date and are subject to change. All analyses are based on certain
assumptions noted herein and different assumptions could yield substantially
different results. You are cautioned that there is no universally accepted
method for analyzing financial instruments. You should review the assumptions;
there may be differences between these assumptions and your actual business
practices. Further, PSI does not guarantee any results and there is no
guarantee as to the liquidity of the instruments involved in this analysis. The
decision to adopt any strategy remains your responsibility. PSI (or any of its
affiliates) or their officers, directors, analysts or employees may have
positions in securities, commodities or derivative instruments thereon referred
to herein, and may, as principal or agent, buy or sell such securities,
commodities or derivative instruments. In addition, PSI may make a market in
the securities referred to herein. Neither the information nor the assumptions
reflected herein shall be construed to be, or constitute, an offer to sell or
buy or a solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. No sale of any securities, commodities
or derivative instruments should be consumated without the purchaser first
having received a prospectus and, if required, prospectus supplement. Finally,
PSI has not addressed the legal, accounting and tax implications of the analysis
with respect to you, and PSI strongly urges you to seek advice from your
counsel, accountant and tax advisor.
<PAGE>
American Business Finacial Services 1996-2
Summary of Transaction
This transaction is the fourth securitization for American Business Financial
Services, Inc. ("ABFS" or the "Company"). It is the first public transaction
for ABFS and the first ABFS transaction that will be guaranteed by a bond
insurer. The Company originates loans through two subsidiaries, Upland Mortgage
("Upland") and American Business Credit ("ABC"), both located in Bala Cynwyd,
PA. Upland originates consumer purpose home equity loans and ABC originates
business purpose home equity loans. Upland and ABC generally service the loans
retained in their respective portfolios and will service the loans to be
included in the securitization.
One tranche of Class A Certificates will be offered. It is expected that these
certificates will have approximately 3-year average life based on a pricing
speed of [22 HEP]. Interest will be paid on the 15th day of each month on a
30/360 basis. The transaction will feature a 10% cleanup call by the Servicer
with a coupon stepup of 75 basis points should the cleanup call not be
exercised.
This transaction features credit enhancement in the form of a 100% guaranty of
timely payment of interest and eventual payment of principal from Financial
Security Assurance, Inc. ("FSA"). The transaction will be rated AAA/Aaa by S&P
and Moody's based on the guaranty from FSA. Beginning with an initial
overcollateralization ("O/C") level of [3%], excess spread from the transaction
will be used to pay down the Class A Certificates to an O/C target of [10%]. In
addition, excess spread of approximately [450] basis points will be available
each month for credit enhancement.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
<PAGE>
American Business Finacial Services
Title of Securities: American Business Financial Services Mortgage Loan
Trust 1996-2, Class A Fixed Rate Certificates, (the
"Certificates").
Collateral: The collateral consists of business and consumer
purpose fixed-rate home equity loans.
Approximate Size: [$40,000,000]
Class A
----------
Approximate Face Amount: [$38,799,000]
Average Life to Maturity: [3.296]
Average Life to 10% Call: [3.085]
Price: 99-30+
Spread: 110
Coupon: 7.525
Step-up: 75 bps will be added to the coupon after the 10%
clean-up call date.
Yield (CBE): 7.545
Pricing Speed: 22% HEP
Day Count: [30/360]
Expected Maturity: 07/15/11
Expected Maturity to 10% Call: 12/15/04
Final Maturity: 12/15/27
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on October 15, 1996.
Payment Delay: 14 days.
Interest Accrual
Period: Interest will accrue from the 1st day of the preceeding
month until the 30th day of the preceeding month.
Pricing Date: September [17], 1996
Settlement Date: September [27], 1996
Servicer: American Business Credit, Inc.
Servicing Fee: 50 basis points per annum.
Trustee: [ ]
Certificate Ratings: The Certificates will be rated AAA/Aaa by Standard &
Poor's and Moody's.
Certificate Insurer: Financial Security Assurance, Inc. ("FSA"). FSA's
claims-paying ability is rated AAA/Aaa by Standard and
Poor's and Moody's.
Certificate Insurance: Timely payment of interest and eventual payment of
principal on the Certificates will be 100% guaranteed
by FSA.
Cashflow Priority: 1) Servicing fee;
2) FSA fee;
3) Trustee fee;
4) Repayment of unreimbursed Surety payments;
5) Accrued monthly interest for Class A
Certificateholders;
6) Monthly principal to the Class A Certificateholders;
7) Excess cashflow to build over-collateralization
("O/C"); and
8) Repayment of any unreimbursed Servicer advances;
9) Any remaining excess cashflow to to holder of
the Class R Certificates.
Credit Enhancement: 1) 100% wrap from FSA guaranteeing timely payment of
interest and eventual payment of principal.
2) Overcollateralization.
3) Excess monthly cash flow.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDED ANY PREVIOUS
COLLATERAL TERMSHEETS AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
American Business Financial Services 1996-2
Overcollateralization: The credit enhancement provisions of the Trust are
intended to provide for the limited acceleration of the
Certificates relative to the amortization of the
related collateral, 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
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 collateral
pool, an overcollateralization amount equal to the
excess of the aggregate principal balance of the
Collateral Pool over the principal balance of the
related Certificates is created. Excess cashflow will
be directed to build the O/C amount until the pool
reaches its required O/C target. Upon this event the
acceleration feature will cease, unless it is once
again necessary to maintain the required O/C level.
Overcollateralization
Levels (Approx.): Initial O/C based on O/C Target based on
original collateral original collateral
balance:[3.00%] balance:[10.00%]
These O/C percentages are subject to step-downs
beginning in month [30] if certain tests are met.
Pre-funding Account: On the Settlement Date, an aggregate cash amount ("the
Pre-funded Amount"), which will equal approximately
[ ] will be deposited in a Pre-funding Account. During
the period ("the Funding Period") from the Settlement
Date until the earlier of (i) the date on which the
amount in the Pre-funding Account is zero, or (ii) 90
days from the Settlement Date, the Pre-funding Amount
will remain in the Pre-funding Account. The Pre-funding
Account will be reduced during the Funding Period by
amounts used to purchase subsequent mortgages in
accordance with the Pooling and Servicing Agreement.
Any Pre-funded Amount remaining at the end of the
Funding Period (net of reinvestment income payable to
the Class R Certificateholders) will be distributed to
the Class A Certificateholders on the [January 1997]
Distribution Date as a partial prepayment of principal
of such Certificates
Clean-up Call: The Servicer has the right to purchase the mortgage
loans from the Trust when the outstanding aggregate
principal balance of the mortgage loans has declined to
10% or less of the initial aggregate principal balance
of the mortgage loans. The option to purchase the
mortgage loans is at par plus 30 days accrued interest.
ERISA
Considerations: The Certificates will be not be ERISA eligible until
the completion of the Funding Period. Investors should
consult with their counsel with respect to the
consequences under ERISA and the Internal Revenue Code
of the Plan's acquisition and ownership of such
certificates.
Taxation: REMIC.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
American Business Finacial Services 1996-2
Available Pool
Information: AS OF August 30, 1996, THE INITIAL CUTOFF DATE:
Loans: 426
Balance: $23,482,032.68
WAC: 12.905%
WAM: 182.8 (balloon loans to balloon date)
WA CLTV: 67.632%
% 1st Lien: 65.26%
% 2nd Lien: 34.74%
Prospectus: The Certificates are being offered pursuant to a
Prospectus which includes a Prospectus Supplement
(together, the "Prospectus"). Complete information
with respect to the Certificates and the Collateral is
contained in the Prospectus. The foregoing is
qualified in its entirety by the information appearing
in the Prospectus. To the extent that the foregoing is
inconsistent with the Prospectus, the Prospectus shall
govern in all respects. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
Further Information: Trading: Rob Karr or Greg Richter at (212) 778-2741,
Banking: Leo Burrell at (212)778-4459 or Evan Mitnick
(212) 778-7469 FSG: Januar Laude at (212) 778-7176 or
Vito Lodato at (212) 778-1390.
COPIES OF PROSPECTUS: PLEASE SEND AN E-MAIL WITH CLIENT'S NAME ADDRESS AND
PHONE NUMBER TO LEO BURRELL AT: BURRELLL
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE
SUPERSEDED BY THE COLLATERAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
Financial Strategies 09/12/96 03:53:52 pm Prudential Securities
Group IMPACT CMO/ABS Analytics - Digest Information Incorporated
Deal ID/CUSIP ABFS62 Deal Date 09/01/96
Series 1996-2 Delivery Date 09/27/96
Underwriter PSI Dated Date 09/01/96
Issuer AMERICAN BUSINESS FINANCIAL SERVICE Credit Support 100% FSA WRAP
Collateral (Real) Deal Type HEL
N/GWAC (Orig) / (12.405/12.905) Pricing Speed HEP 22.00
WAM (Orig) (17.793) Rating AAA/Aaa
Size 40,000,000 Coupon Range 11.217-12.592
Trustee Modeled Y
View Summary On Page 1 of 4
Class Coupon Mat Amt 000 AvLf Sprd Price Yield Description
- ------ ------- ----- ------- ---- ---- ------- ------- -------------------------
A 7.525 12/27 38,800 3.0 110 99-30+ 7.545 PASS THRU
Financial Strategies 09/12/96 03:55:43 pm Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / Yield Tables Incorporated
Deal ID/CUSIP ABFS62 Coupon 7.525
Class A PASS THRU Accr 0.54347 1st Pmt 10/15/96
Collateral (Real) Factor on / /
N/GWAC (Orig) / (12.405/12.905)
WAM (Orig) (17.793) Mat N/A Settle 09/27/96
CenterPrice 99-30+ Inc 0.5 Table Yield Roll@
HEP 22.00 HEP 16.00 HEP 18.00 HEP 20.00 HEP 24.00 HEP 26.00 HEP 28.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-21 7.664 7.661 7.662 7.663 7.666 7.667 7.668
99-21+ 7.658 7.655 7.656 7.657 7.659 7.660 7.661
99-22 7.652 7.650 7.651 7.651 7.652 7.653 7.653
99-22+ 7.645 7.645 7.645 7.645 7.646 7.646 7.646
99-23 7.639 7.640 7.640 7.640 7.639 7.639 7.638
99-23+ 7.633 7.635 7.634 7.634 7.632 7.632 7.631
99-24 7.627 7.630 7.629 7.628 7.626 7.625 7.623
99-24+ 7.620 7.625 7.623 7.622 7.619 7.617 7.616
99-25 7.614 7.620 7.618 7.616 7.612 7.610 7.609
99-25+ 7.608 7.615 7.612 7.610 7.606 7.603 7.601
99-26 7.602 7.609 7.607 7.604 7.599 7.596 7.594
99-26+ 7.595 7.604 7.601 7.598 7.592 7.589 7.586
99-27 7.589 7.599 7.596 7.593 7.586 7.582 7.579
99-27+ 7.583 7.594 7.590 7.587 7.579 7.575 7.571
99-28 7.577 7.589 7.585 7.581 7.573 7.568 7.564
99-28+ 7.570 7.584 7.579 7.575 7.566 7.561 7.557
99-29 7.564 7.579 7.574 7.569 7.559 7.554 7.549
99-29+ 7.558 7.574 7.568 7.563 7.553 7.547 7.542
99-30 7.552 7.569 7.563 7.557 7.546 7.540 7.534
99-30+ 7.545 7.564 7.558 7.552 7.539 7.533 7.527
99-31 7.539 7.558 7.552 7.546 7.533 7.526 7.519
99-31+ 7.533 7.553 7.547 7.540 7.526 7.519 7.512
100-00 7.527 7.548 7.541 7.534 7.520 7.512 7.505
100-00+ 7.521 7.543 7.536 7.528 7.513 7.505 7.497
100-01 7.514 7.538 7.530 7.522 7.506 7.498 7.490
100-01+ 7.508 7.533 7.525 7.516 7.500 7.491 7.482
100-02 7.502 7.528 7.519 7.511 7.493 7.484 7.475
100-02+ 7.496 7.523 7.514 7.505 7.486 7.477 7.468
100-03 7.489 7.518 7.508 7.499 7.480 7.470 7.460
100-03+ 7.483 7.513 7.503 7.493 7.473 7.463 7.453
100-04 7.477 7.508 7.497 7.487 7.467 7.456 7.445
100-04+ 7.471 7.502 7.492 7.481 7.460 7.449 7.438
100-05 7.465 7.497 7.487 7.476 7.453 7.442 7.431
100-05+ 7.458 7.492 7.481 7.470 7.447 7.435 7.423
100-06 7.452 7.487 7.476 7.464 7.440 7.428 7.416
100-06+ 7.446 7.482 7.470 7.458 7.434 7.421 7.409
100-07 7.440 7.477 7.465 7.452 7.427 7.414 7.401
100-07+ 7.434 7.472 7.459 7.447 7.421 7.407 7.394
100-08 7.427 7.467 7.454 7.441 7.414 7.400 7.386
Avg. Life 3.085 3.964 3.622 3.334 2.868 2.673 2.508
1st Pmt. 0.050 0.050 0.050 0.050 0.050 0.050 0.050
Last Pmt. 12/15/04 04/15/07 05/15/06 08/15/05 05/15/04 10/15/03 05/15/03
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID
NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
_______________________________________________________________________________
- ABFS PRELIMINARY COLLATERAL FOR SECURITIZATION
- Cut Off Date of Tape is 8/30/96
- FIXED RATE COLLATERAL
- $23,482,032.68
________________________________________________________________________________
Number of Mortgage Loans: 426
Aggregate Unpaid Principal Balance: $23,482,032.68
Aggregate Original Principal Balance: $23,559,300.00
Weighted Average Gross Coupon: 12.905%
Gross Coupon Range: 6.990% - 18.000%
________________________________________________________________________________
Average Unpaid Principal Balance: $55,122.14
Average Original Principal Balance: $55,303.52
Maximum Unpaid Principal Balance: $325,000.00
Minimum Unpaid Principal Balance: $9,482.28
Maximum Original Principal Balance: $325,000.00
Minimum Original Principal Balance: $10,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 182.796 * balloon
loans to
balloon date
Stated Rem Term Range: 33.000 - 360.000
Weighted Average Age (First Pay thru Last Pay): 1.132
Age Range: 0.000 - 4.000
Weighted Average Original Term: 183.928 * balloon
loans to
balloon date
Original Term Range: 36.000 - 360.000
Weighted Average Original LTV: 67.632
Original LTV Range: 6.000% - 90.000%
LTV = COMBINED LTV FOR 2ND LIEN LOANS.
________________________________________________________________________________
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
DE 15 864,853.73 3.68
MD 22 877,860.34 3.74
NJ 145 7,941,987.28 33.82
NY 18 1,811,286.07 7.71
PA 206 11,091,352.16 47.23
VA 20 894,693.10 3.81
__________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C> <C>
5,000 GREATER THAN Balance GREATER THAN= 10,000 6 58,693.31 0.25
10,000 GREATER THAN Balance GREATER THAN= 15,000 18 230,475.76 0.98
15,000 GREATER THAN Balance GREATER THAN= 20,000 36 664,264.13 2.83
20,000 GREATER THAN Balance GREATER THAN= 25,000 46 1,048,261.88 4.46
25,000 GREATER THAN Balance GREATER THAN= 30,000 38 1,074,989.79 4.58
30,000 GREATER THAN Balance GREATER THAN= 35,000 40 1,311,017.97 5.58
35,000 GREATER THAN Balance GREATER THAN= 40,000 24 918,313.58 3.91
40,000 GREATER THAN Balance GREATER THAN= 45,000 28 1,213,266.84 5.17
45,000 GREATER THAN Balance GREATER THAN= 50,000 17 808,938.99 3.44
50,000 GREATER THAN Balance GREATER THAN= 55,000 26 1,376,380.95 5.86
55,000 GREATER THAN Balance GREATER THAN= 60,000 16 941,078.75 4.01
60,000 GREATER THAN Balance GREATER THAN= 65,000 12 757,499.27 3.23
65,000 GREATER THAN Balance GREATER THAN= 70,000 11 752,928.02 3.21
70,000 GREATER THAN Balance GREATER THAN= 75,000 10 733,910.46 3.13
75,000 GREATER THAN Balance GREATER THAN= 80,000 14 1,099,720.13 4.68
80,000 GREATER THAN Balance GREATER THAN= 85,000 7 581,964.50 2.48
85,000 GREATER THAN Balance GREATER THAN= 90,000 11 968,157.22 4.12
90,000 GREATER THAN Balance GREATER THAN= 95,000 4 370,432.96 1.58
95,000 GREATER THAN Balance GREATER THAN= 100,000 10 982,621.70 4.18
100,000 GREATER THAN Balance GREATER THAN= 105,000 4 410,819.92 1.75
105,000 GREATER THAN Balance GREATER THAN= 110,000 3 326,957.09 1.39
110,000 GREATER THAN Balance GREATER THAN= 115,000 7 789,041.79 3.36
115,000 GREATER THAN Balance GREATER THAN= 120,000 9 1,060,456.96 4.52
120,000 GREATER THAN Balance GREATER THAN= 125,000 3 366,150.21 1.56
125,000 GREATER THAN Balance GREATER THAN= 130,000 2 257,500.00 1.10
130,000 GREATER THAN Balance GREATER THAN= 135,000 2 261,646.08 1.11
135,000 GREATER THAN Balance GREATER THAN= 140,000 4 554,081.37 2.36
140,000 GREATER THAN Balance GREATER THAN= 145,000 2 285,764.74 1.22
145,000 GREATER THAN Balance GREATER THAN= 150,000 5 744,162.84 3.17
150,000 GREATER THAN Balance GREATER THAN= 200,000 5 885,819.66 3.77
200,000 GREATER THAN Balance GREATER THAN= 250,000 2 435,000.00 1.85
250,000 GREATER THAN Balance GREATER THAN= 300,000 1 265,000.00 1.13
300,000 GREATER THAN Balance GREATER THAN= 350,000 3 946,715.81 4.03
______________________________________________________________________________________________
Total.................... 426 $ 23,482,032.68 100.00%
==============================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C> <C>
5,000 GREATER THAN Balance GREATER THAN= 10,000 6 58,693.31 0.25
10,000 GREATER THAN Balance GREATER THAN= 15,000 18 230,475.76 0.98
15,000 GREATER THAN Balance GREATER THAN= 20,000 37 683,201.28 2.91
20,000 GREATER THAN Balance GREATER THAN= 25,000 45 1,029,324.73 4.38
25,000 GREATER THAN Balance GREATER THAN= 30,000 39 1,104,794.68 4.70
30,000 GREATER THAN Balance GREATER THAN= 35,000 39 1,281,213.08 5.46
35,000 GREATER THAN Balance GREATER THAN= 40,000 25 957,925.94 4.08
40,000 GREATER THAN Balance GREATER THAN= 45,000 28 1,213,266.84 5.17
45,000 GREATER THAN Balance GREATER THAN= 50,000 16 769,326.63 3.28
50,000 GREATER THAN Balance GREATER THAN= 55,000 26 1,376,380.95 5.86
55,000 GREATER THAN Balance GREATER THAN= 60,000 16 941,078.75 4.01
60,000 GREATER THAN Balance GREATER THAN= 65,000 12 757,499.27 3.23
65,000 GREATER THAN Balance GREATER THAN= 70,000 11 752,928.02 3.21
70,000 GREATER THAN Balance GREATER THAN= 75,000 10 733,910.46 3.13
75,000 GREATER THAN Balance GREATER THAN= 80,000 14 1,099,720.13 4.68
80,000 GREATER THAN Balance GREATER THAN= 85,000 7 581,964.50 2.48
85,000 GREATER THAN Balance GREATER THAN= 90,000 11 968,157.22 4.12
90,000 GREATER THAN Balance GREATER THAN= 95,000 4 370,432.96 1.58
95,000 GREATER THAN Balance GREATER THAN= 100,000 10 982,621.70 4.18
100,000 GREATER THAN Balance GREATER THAN= 105,000 4 410,819.92 1.75
105,000 GREATER THAN Balance GREATER THAN= 110,000 3 326,957.09 1.39
110,000 GREATER THAN Balance GREATER THAN= 115,000 8 903,862.35 3.85
115,000 GREATER THAN Balance GREATER THAN= 120,000 8 945,636.40 4.03
120,000 GREATER THAN Balance GREATER THAN= 125,000 3 366,150.21 1.56
125,000 GREATER THAN Balance GREATER THAN= 130,000 3 387,398.83 1.65
130,000 GREATER THAN Balance GREATER THAN= 135,000 1 131,747.25 0.56
135,000 GREATER THAN Balance GREATER THAN= 140,000 4 554,081.37 2.36
140,000 GREATER THAN Balance GREATER THAN= 145,000 2 285,764.74 1.22
145,000 GREATER THAN Balance GREATER THAN= 150,000 5 744,162.84 3.17
150,000 GREATER THAN Balance GREATER THAN= 200,000 5 885,819.66 3.77
200,000 GREATER THAN Balance GREATER THAN= 250,000 2 435,000.00 1.85
250,000 GREATER THAN Balance GREATER THAN= 300,000 1 265,000.00 1.13
300,000 GREATER THAN Balance GREATER THAN= 350,000 3 946,715.81 4.03
_______________________________________________________________________________________________
Total.................... 426 $ 23,482,032.68 100.00%
===============================================================================================
</TABLE>
ORIGINAL LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
5.000 GREATER THAN LTV GREATER THAN= 10.000 10 155,832.17 0.66
10.000 GREATER THAN LTV GREATER THAN= 15.000 47 1,125,931.87 4.79
15.000 GREATER THAN LTV GREATER THAN= 20.000 59 1,742,848.41 7.42
20.000 GREATER THAN LTV GREATER THAN= 25.000 49 1,667,774.83 7.10
25.000 GREATER THAN LTV GREATER THAN= 30.000 36 1,546,363.28 6.59
30.000 GREATER THAN LTV GREATER THAN= 35.000 16 824,949.69 3.51
35.000 GREATER THAN LTV GREATER THAN= 40.000 19 1,284,875.04 5.47
40.000 GREATER THAN LTV GREATER THAN= 45.000 15 1,159,914.50 4.94
45.000 GREATER THAN LTV GREATER THAN= 50.000 13 1,098,055.41 4.68
50.000 GREATER THAN LTV GREATER THAN= 55.000 14 957,248.02 4.08
55.000 GREATER THAN LTV GREATER THAN= 60.000 21 1,549,909.52 6.60
60.000 GREATER THAN LTV GREATER THAN= 65.000 24 1,774,942.20 7.56
65.000 GREATER THAN LTV GREATER THAN= 70.000 17 1,385,158.60 5.90
70.000 GREATER THAN LTV GREATER THAN= 75.000 17 1,321,747.26 5.63
75.000 GREATER THAN LTV GREATER THAN= 80.000 36 2,980,893.81 12.69
80.000 GREATER THAN LTV GREATER THAN= 85.000 13 1,055,282.52 4.49
85.000 GREATER THAN LTV GREATER THAN= 90.000 20 1,850,305.55 7.88
___________________________________________________________________________________________
Total.................... 426 $ 23,482,032.68 100.00%
===========================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID
NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Combinec Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
5GREATER THAN=Comb LTVGREATER THAN= 10 1 9,482.28 0.04
10GREATER THAN=Comb LTVGREATER THAN= 15 4 129,628.77 0.55
15GREATER THAN=Comb LTVGREATER THAN= 20 5 99,325.88 0.42
20GREATER THAN=Comb LTVGREATER THAN= 25 8 424,097.17 1.81
25GREATER THAN=Comb LTVGREATER THAN= 30 7 199,627.74 0.85
30GREATER THAN=Comb LTVGREATER THAN= 35 5 179,877.36 0.77
35GREATER THAN=Comb LTVGREATER THAN= 40 12 452,563.65 1.93
40GREATER THAN=Comb LTVGREATER THAN= 45 12 623,586.92 2.66
45GREATER THAN=Comb LTVGREATER THAN= 50 14 955,352.98 4.07
50 GREATER THANComb LTVGREATER THAN= 55 18 1,353,723.24 5.76
55 GREATER THANComb LTVGREATER THAN= 60 28 1,991,403.20 8.48
60 GREATER THANComb LTVGREATER THAN= 65 46 2,949,452.04 12.56
65 GREATER THANComb LTVGREATER THAN= 70 59 3,216,239.31 13.70
70 GREATER THANComb LTVGREATER THAN= 75 51 2,590,085.38 11.03
75 GREATER THANComb LTVGREATER THAN= 80 79 4,132,221.74 17.60
80 GREATER THANComb LTVGREATER THAN= 85 58 2,377,199.45 10.12
85 GREATER THANComb LTVGREATER THAN= 90 19 1,798,165.57 7.66
_____________________________________________________________________________________________
Total.................... 426 $ 23,482,032.68 100.00%
=============================================================================================
</TABLE>
MORTGAGTE TYPE SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Fx. Bln. 5/15 yr. 1 45,000.00 0.19
Fx. Bln. 10/20 yr. 1 60,000.00 0.26
Fx. Bln. 15/30 yr. 41 3,922,076.65 16.70
Fx. Full Am. 3 yr. 4 96,147.68 0.41
Fx. Full Am. 5 yr. 23 520,418.78 2.22
Fx. Full Am. 6 yr. 1 24,505.53 0.10
Fx. Full Am. 7 yr. 18 497,371.91 2.12
Fx. Full Am. 8 yr. 4 108,673.73 0.46
Fx. Full Am. 10 yr. 67 2,156,169.97 9.18
Fx. Full Am. 13 yr. 1 45,711.38 0.19
Fx. Full Am. 15 yr. 180 10,601,117.69 45.15
Fx. Full Am. 16 yr. 1 56,673.67 0.24
Fx. Full Am. 20 yr. 79 4,919,196.72 20.95
Fx. Full Am. 28 yr. 1 129,898.83 0.55
Fx. Full Am. 30 yr. 4 299,070.14 1.27
__________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID
NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
24 GREATER THAN Orig. Term GREATER THAN= 36 4 96,147.68 0.41%
48 GREATER THAN Orig. Term GREATER THAN= 60 24 565,418.78 2.41%
60 GREATER THAN Orig. Term GREATER THAN= 72 1 24,505.53 0.10%
72 GREATER THAN Orig. Term GREATER THAN= 84 18 497,371.91 2.12%
84 GREATER THAN Orig. Term GREATER THAN= 96 4 108,673.73 0.46%
108 GREATER THAN Orig. Term GREATER THAN= 120 69 2,236,169.97 9.52%
144 GREATER THAN Orig. Term GREATER THAN= 156 1 45,711.38 0.19%
168 GREATER THAN Orig. Term GREATER THAN= 180 221 14,523,194.34 61.85%
180 GREATER THAN Orig. Term GREATER THAN= 192 1 56,673.67 0.24%
228 GREATER THAN Orig. Term GREATER THAN= 240 78 4,899,196.72 20.86%
324 GREATER THAN Orig. Term GREATER THAN= 336 1 129,898.83 0.55%
348 GREATER THAN Orig. Term GREATER THAN= 360 4 299,070.14 1.27%
__________________________________________________________________________________________
Total............ 426 23,482,032.68 100.00%
==========================================================================================
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
PercentAge of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
MortgAge Principal Principal
Age Loans Balance Balance
<S> <C> <C> <C>
Age = 0 153 8,566,750.00 36.48%
1 GREATER THAN Age GREATER THAN= 12 273 14,915,282.68 63.52%
_____________________________________________________________________________________
Total............ 426 23,482,032.68 100.00%
=====================================================================================
</TABLE>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
24 GREATER THAN Rem Term GREATER THAN= 36 4 96,147.68 0.41%
48 GREATER THAN Rem Term GREATER THAN= 60 24 565,418.78 2.41%
60 GREATER THAN Rem Term GREATER THAN= 72 1 24,505.53 0.10%
72 GREATER THAN Rem Term GREATER THAN= 84 18 497,371.91 2.12%
84 GREATER THAN Rem Term GREATER THAN= 96 4 108,673.73 0.46%
108 GREATER THAN Rem Term GREATER THAN= 120 69 2,236,169.97 9.52%
144 GREATER THAN Rem Term GREATER THAN= 156 1 45,711.38 0.19%
168 GREATER THAN Rem Term GREATER THAN= 180 221 14,523,194.34 61.85%
180 GREATER THAN Rem Term GREATER THAN= 192 1 56,673.67 0.24%
228 GREATER THAN Rem Term GREATER THAN= 240 78 4,899,196.72 20.86%
324 GREATER THAN Rem Term GREATER THAN= 336 1 129,898.83 0.55%
348 GREATER THAN Rem Term GREATER THAN= 360 4 299,070.14 1.27%
___________________________________________________________________________________________
Total............ 426 23,482,032.68 100.00%
===========================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
GROSS MORTGAGE INTEREST RATE RANGE 6-Sep-1996
Page 1
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
6.50% GREATER THAN Gross Coupon GREATER THAN= 7.00% 2 36,076.00 0.15
8.50% GREATER THAN Gross Coupon GREATER THAN= 9.00% 7 552,865.88 2.35
9.00% GREATER THAN Gross Coupon GREATER THAN= 9.50% 13 629,377.78 2.68
9.50% GREATER THAN Gross Coupon GREATER THAN= 10.00% 39 2,159,034.16 9.19
10.00% GREATER THAN Gross Coupon GREATER THAN= 10.50% 35 1,873,211.82 7.98
10.50% GREATER THAN Gross Coupon GREATER THAN= 11.00% 47 2,551,589.07 10.87
11.00% GREATER THAN Gross Coupon GREATER THAN= 11.50% 38 1,934,618.98 8.24
11.50% GREATER THAN Gross Coupon GREATER THAN= 12.00% 43 1,822,420.63 7.76
12.00% GREATER THAN Gross Coupon GREATER THAN= 12.50% 37 1,526,990.71 6.50
12.50% GREATER THAN Gross Coupon GREATER THAN= 13.00% 16 797,086.11 3.39
13.00% GREATER THAN Gross Coupon GREATER THAN= 13.50% 14 700,381.45 2.98
13.50% GREATER THAN Gross Coupon GREATER THAN= 14.00% 8 297,188.56 1.27
14.00% GREATER THAN Gross Coupon GREATER THAN= 14.50% 6 189,456.56 0.81
14.50% GREATER THAN Gross Coupon GREATER THAN= 15.00% 6 308,384.29 1.31
15.00% GREATER THAN Gross Coupon GREATER THAN= 15.50% 5 136,313.91 0.58
15.50% GREATER THAN Gross Coupon GREATER THAN= 16.00% 99 7,105,579.87 30.26
16.00% GREATER THAN Gross Coupon GREATER THAN= 16.50% 8 724,097.99 3.08
17.50% GREATER THAN Gross Coupon GREATER THAN= 18.00% 3 137,358.91 0.58
_________________________________________________________________________________________________
Total.......... 426 $ 23,482,032.68 100.00%
=================================================================================================
</TABLE>
LOAN PURPOSE SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Business Expansion 7 647,746.15 2.76
Buy Business 1 97,750.00 0.42
Buy Car 1 12,376.00 0.05
Buy Out Second Party 1 39,612.36 0.17
Buy Prop. 12 971,186.26 4.14
Capital for Adverising 1 69,808.06 0.30
Cash FLow 5 216,425.32 0.92
Cashout Refi 7 304,754.90 1.30
Consolidation 354 19,358,210.88 82.44
Education/Tuition 1 29,943.38 0.13
Operating Capital 1 103,000.00 0.44
Pay Taxes 2 107,916.84 0.46
Payoff a Debt 1 20,920.28 0.09
Purchase Equipment 2 51,916.12 0.22
Rate/Term Refi. 2 138,950.00 0.59
Renovations 8 242,153.08 1.03
Working Cap. 20 1,069,363.05 4.55
__________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
PUD 2 58,791.05 0.25
Single Family Detached 292 14,927,849.79 63.57
2-6 Resid Leasehold 9 565,974.41 2.41
7+ Family 1 60,000.00 0.26
Townhouses 81 3,328,464.18 14.17
Condominiums 5 144,555.74 0.62
Commercial 5 555,151.76 2.36
Mixed Use Property 22 2,765,863.84 11.78
Multiple Properties 9 1,075,381.91 4.58
__________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 384 20,032,169.52 85.31
Investor 18 1,011,615.21 4.31
Vacation/Second Home 3 110,000.00 0.47
Corporate 12 1,252,866.04 5.34
Mulitple Properties 9 1,075,381.91 4.58
__________________________________________________________________________
Total.................. 426 $ 23,482,032.68 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
BALLOON PAYMENT
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
NOT A BALLOON LOAN 383 19,454,956.03 82.85
0 GREATER THAN BALLOON PYMT. GREATER THAN= 25,000 1 18,937.15 0.08
25,000 GREATER THAN BALLOON PYMT. GREATER THAN= 50,000 14 624,909.84 2.66
50,000 GREATER THAN BALLOON PYMT. GREATER THAN= 75,000 13 965,914.16 4.11
75,000 GREATER THAN BALLOON PYMT. GREATER THAN= 100,000 6 657,365.86 2.80
100,000 GREATER THAN BALLOON PYMT. GREATER THAN= 125,000 2 265,622.79 1.13
125,000 GREATER THAN BALLOON PYMT. GREATER THAN= 150,000 2 281,004.55 1.20
150,000 GREATER THAN BALLOON PYMT. GREATER THAN= 175,000 2 363,322.30 1.55
175,000 GREATER THAN BALLOON PYMT. GREATER THAN= 200,000 1 215,000.00 0.92
275,000 GREATER THAN BALLOON PYMT. GREATER THAN= 300,000 1 310,000.00 1.32
300,000 GREATER THAN BALLOON PYMT. GREATER THAN= 325,000 1 325,000.00 1.38
_________________________________________________________________________________________________________
Total.................. 426 $ 23,482,032.68 100.00%
=========================================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
Amortization
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 383 19,454,956.03 82.85
Partially Amortizing 43 4,027,076.65 17.15
__________________________________________________________________________
Total.................. 426 $ 23,482,032.68 100.00%
==========================================================================
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 208 15,323,434.51 65.26
2 218 8,158,598.17 34.74
__________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
==========================================================================
AGE OF BUSINESS LOAN SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Age of Bus. = 0 326 16,130,347.51 68.69
0 GREATER THAN Age of Bus. GREATER THAN= 50 26 1,567,618.56 6.68
50 GREATER THAN Age of Bus. GREATER THAN= 100 15 979,042.63 4.17
100 GREATER THAN Age of Bus. GREATER THAN= 150 13 932,675.45 3.97
150 GREATER THAN Age of Bus. GREATER THAN= 200 16 1,116,441.32 4.75
200 GREATER THAN Age of Bus. GREATER THAN= 250 15 1,282,611.41 5.46
250 GREATER THAN Age of Bus. GREATER THAN= 300 6 746,561.05 3.18
300 GREATER THAN Age of Bus. GREATER THAN= 350 1 35,000.00 0.15
350 GREATER THAN Age of Bus. GREATER THAN= 400 1 186,000.00 0.79
400 GREATER THAN Age of Bus. GREATER THAN= 450 2 163,917.64 0.70
450 GREATER THAN Age of Bus. GREATER THAN= 500 2 127,405.89 0.54
550 GREATER THAN Age of Bus. GREATER THAN= 600 2 169,411.22 0.72
650 GREATER THAN Age of Bus. GREATER THAN= 700 1 45,000.00 0.19
_________________________________________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
=========================================================================================================
</TABLE>
DEBT TO INCOME RATIO SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
10 GREATER THAN Debt/Income GREATER THAN= 30 19 578,537.55 2.46
20 GREATER THAN Debt/Income GREATER THAN= 40 43 2,071,345.78 8.82
30 GREATER THAN Debt/Income GREATER THAN= 50 132 6,489,425.37 27.64
40 GREATER THAN Debt/Income GREATER THAN= 60 222 13,537,048.53 57.65
50 GREATER THAN Debt/Income GREATER THAN= 70 8 650,586.97 2.77
60 GREATER THAN Debt/Income GREATER THAN= 80 2 155,088.48 0.66
________________________________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
================================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU
DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN GRADE SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
A++ 2 36,076.00 0.15
A1 79 3,969,273.76 16.90
A1NIQ 1 32,000.00 0.14
A2 113 5,618,634.60 23.93
A2NIQ 6 268,893.42 1.15
A2NIV 3 162,481.97 0.69
ANIQ 71 5,178,291.23 22.05
B 62 3,011,167.54 12.82
BNIQ 17 1,742,771.00 7.42
C 53 2,452,636.02 10.44
CNIQ 9 651,181.15 2.77
D 10 358,625.99 1.53
__________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
==========================================================================
Business/Residential Purpose
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Business Purpose 109 8,025,238.93 34.18
Residential 317 15,456,793.75 65.82
__________________________________________________________________________
Total............... 426 $ 23,482,032.68 100.00%
==========================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID
NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
