- --------------------------------------------------------------------------------
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) December 1, 1997
Prudential Securities Secured Financing Corporation
(Exact name of registrant as specified in its charter)
Delaware 333-27355 13-3526694
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
One New York Plaza 10292
New York, New York (Zip Code)
(Address of Principal Executive Offices)
Registrant's telephone number, including area code (212) 214-7435
No Change
(Former name or former address, if changed since last report)
- --------------------------------------------------------------------------------
1
<PAGE>
Item 5. Other Events
In connection with the offering of Emergent Home Equity Loan Trust
1997-4, Emergent Home Equity Loan Asset-Backed Notes, Series 1997-4, Prudential
Securities Incorporated, as underwriter, has furnished to certain prospective
investors 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 (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).
2
<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 Emergent Home Equity
Loan Trust 1997-4
By: /s/ Norman Chaleff
------------------------------
Name: Norman Chaleff
Title: Vice President
Date: December 2, 1997
3
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
- ----------- ----------- --------
99.1 Related Computational Materials (as 6
defined in Item 5 above).
4
EMERGENT HOME EQUITY LOAN TRUST 1997-4
Home Equity Loan Asset-Backed Securities, Series 1997-4
Class A Notes
EMERGENT 1997-4 [$148,500,000]
----------------------------------------------------
$[36,000,000] Class A-1 Floating-Rate Notes - [TBA]%
$[22,000,000] Class A-2 Fixed-Rate Notes - [TBA]%
$[20,000,000] Class A-3 Fixed-Rate Notes - [TBA]%
$[29,000,000] Class A-4 Fixed-Rate Notes - [TBA]%
$[26,500,000] Class A-5 Fixed-Rate Notes - [TBA]%
$[15,000,000] Class A-6 Fixed-Rate Notes - [TBA]%
The information herein has been provided solely by Prudential Securities
Incorporated ("PSI") based on information with respect to the mortgage loans
provided by Emergent Mortgage Corp. and its affiliates ("EMERGENT"). Neither PSI
nor any of its affiliates makes any representation as to the accuracy or
completeness of the information herein. The information herein is preliminary
and will be superseded by the prospectus supplement and by any other information
subsequently filed with the Securities and Exchange Commission ("SEC"). 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 here, 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>
EMERGENT HOME EQUITY LOAN TRUST 1997-4
Home Equity Loan Asset-Backed Securities, Series 1997-4
Class A Notes
- --------------------------------------------------------------------------------
CLASS A NOTES
<TABLE>
<CAPTION>
Class A-1 Class A-2 Class A-3 Class A-4 Class A-5 Class A-6
Floating-Rate Fixed-Rate Fixed-Rate Fixed-Rate Fixed-Rate Fixed-Rate
Sequential Sequential Sequential Sequential Sequential NAS Lock-out*
---------- ---------- ---------- ---------- ---------- -------------
<S> <C> <C> <C> <C> <C> <C>
Approximate
Face Amount: $[36,000,000] $[22,000,000] $[20,000,000] $[29,000,000] $[26,500,000] $[15,000,000]
Avg Life: [0.89]yrs [2.04]yrs [3.10]yrs [5.04]yrs [10.93]yrs [6.93]yrs
Avg Life
to Call: [0.89]yrs [2.04]yrs [3.10]yrs [5.04]yrs [9.62]yrs [6.89]yrs
Price: [TBA] [TBA] [TBA] [TBA] [TBA] [TBA]
Coupon*: 1ML +[TBA]bps [ ]% [ ]% [ ]% [ ]% [ ]%
Yield (CBE): [TBA] [TBA] [TBA] [TBA] [TBA] [TBA]
Spread: [TBA] [TBA] [TBA] [TBA] [TBA] [TBA]
Pricing Spd: [17]% HEP [17]% HEP [17]% HEP [17]% HEP [17]% HEP [17]% HEP
Settlement: [12/23/97] [12/23/97] [12/23/97] [12/23/97] [12/23/97] [12/23/97]
1st Prin Pmt
(years): [0.06] [1.56] [2.56] [3.73] [6.81] [3.06]
Exp. Mat: [07/15/99] [07/15/00] [09/15/01] [10/15/04] [10/15/15] [12/15/12]
Exp. Mat
to Call: [07/15/99] [07/15/00] [09/15/01] [10/15/04] [07/15/08] [07/15/08]
Final Mat: [05/15/07] [10/15/10] [12/15/12] [01/15/13] [12/15/28] [12/15/28]
Day Count: Actual/360 30/360 30/360 30/360 30/360 30/360
Pymt Delay: 0 days 14 days 14 days 14 days 14 days 14 days
Dated Date: [12/23/97] [12/01/97] [12/01/97] [12/01/97] [12/01/97] [12/01/97]
Pymt Terms: Monthly Monthly Monthly Monthly Monthly Monthly
1st Pymt Date: [1/15/98] [1/15/98] [1/15/98] [1/15/98] [1/15/98] [1/15/98]
Rating: Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA
</TABLE>
*Coupon Rate is the lesser of:
1) The Related Class Rate
2) Available Funds Cap
Available Funds Cap: A rate equal to the weighted average gross coupon
rate less [69.5]bps for servicing fees, surety fees
and trustee fees.
*Class A-6 Principal
Distribution Amount: Class A-6 is a Non-Accelerated Senior (NAS) class.
The Class A-6 Principal Distribution Amount is the
applicable Class A-6 Principal Percentage multiplied
by the Class A-6 Pro Rata Distribution Amount for
such Distribution Date.
Class A-6 Principal Percentage:
-------------------------------
Months 0 - 36: 0%
Months 37 - 60: 45%
Months 61 - 72: 80%
Months 73 - 84: 100%
Months 85 - end: 300%
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
EMERGENT HOME EQUITY LOAN TRUST 1997-4
Home Equity Loan Asset-Backed Securities, Series 1997-4
Class A Notes
Title of Securities: Emergent Home Equity Loan Trust 1997-4,
Home Equity Loan Asset-Backed Securities, Series 1997-4
Class A Notes
Originator/
Servicer: Emergent Mortgage Corp. ("EMC").
Parent: Emergent Group, Inc. ("Emergent").
Seller: Emergent Mortgage Holdings Corporation.
Depositor: Prudential Securities Secured Financing Corp.
Servicer Fee: 50 bps per annum.
Trustee: First Union National Bank.
Aggregate
Note Balance: Class A: $[148,500,000.00]
Pricing Date: []
Settlement Date: [December [23], 1997]
Distribution Date: The 15th day of each month (or, if such date is not a
business day, the next succeeding business day)
commencing January 15, 1998.
Record Date: For Class A-1 - the business day prior to the related
Distribution Date.
For Class A-2 through Class A-6 - the last day of the
calendar month immediately preceding the related
Distribution Date.
Interest Accrual: Class A-1 - The prior Distribution Date to the day
immediately preceding the related Distribution Date,
based on an actual/360 day count.
For Class A-2 through Class A-6 - the calendar month
preceding the related Distribution Date, based on a
30/360 day count.
Form of Notes: Book-entry only through the same-day funds facilities
of DTC, Euroclear and CEDEL.
Denominations: Minimum denominations of $1,000 and integral multiples
of $1,000 in excess thereof.
Prepayment
Assumption: [17]% HEP ([1.7]% CPR in month 1 with monthly
incremental increases of [1.7]% CPR until the speed
reaches [17]% CPR in month 10 based on loan seasoning.)
Credit Enhancement: A combination of:
- Excess monthly cash flow
- Overcollateralization
- 100% wrap from FSA guaranteeing timely interest
and ultimate principal.
Initial
Mortgage Loans: $[47,719,071.98]
Expected Additional
Mortgage Loans: $[64,780,928.02]
Additional
Mortgage Loans: On the Closing Date, it is expected that the Additional
Mortgage Loans will be transferred to the Trust Fund.
In the event that less than such amount is transferred,
an aggregate cash amount equal to the excess of the
Expected Additional Mortgage Loans amount over the
actual Additional Mortgage Loans amount (as of their
respective Cut-Off Dates) will be deposited by the
Originator in the Prefunding Account.
The Additional Mortgage Loans will have substantially
the same characteristics as the Initial Mortgage Loans.
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
EMERGENT HOME EQUITY LOAN TRUST 1997-4
Home Equity Loan Asset-Backed Securities, Series 1997-4
Class A Notes
Prefunding Account: On the Closing Date, cash equal to the difference
between $150,000,000 and the sum of the principal
balances of the Initial Mortgage Loans and the
Additional Mortgage Loans, but not in excess of 33.333%
of such sum (the "Prefunding Limit"), will be deposited
in the Prefunding Account. Funds in the Prefunding
Account will be used to purchase Prefunded Mortgage
Loans until the collateral balance of all Mortgage
Loans sold to the Trust equals $150,000,000. The
Prefunding Period will last until [March, 1998]. Any
amounts remaining in the Prefunding Account at the end
of the Prefunding Period will be paid to Noteholders as
a principal prepayment, if less than $100,000, as a
principal payment to Noteholders then entitled to
principal or, if $100,000 or more, as a prepayment of
principal of the Class A Notes, pro rata, on the basis
of their respective Note Principal Balances.
In the event the difference between $150,000,000 and
the sum of the principal balances of the Initial
Mortgage Loans and the Additional Mortgage Loans is
greater than the Prefunding Limit, cash in an amount
equal to the excess over the Prefunding Limit shall be
deposited on the Closing Date into the Redemption
Account. Amounts so deposited in the Redemption Account
on the Closing Date will be paid to Noteholders as a
principal prepayment, if less than $100,000, as a
principal payment to Noteholders then entitled to
principal or, if $100,000 or more, as a prepayment of
principal of the Class A Notes, pro rata, on the basis
of their respective Note Principal Balances.
Note Insurer: Financial Security Assurance Inc. ("FSA"). FSA's
claims-paying ability is rated AAA/Aaa by Standard &
Poor's ("S&P") and Moody's Investors Service
("Moody's"), respectively.
Note Ratings: The Notes will be rated AAA by S&P and Aaa by Moody's.
Compensating
Interest: The Servicer will be obligated to offset any Prepayment
Interest Shortfall on any Distribution Date to the
extent of the Servicing Fee for such Distribution Date.
Origination
Channels: Approximately [63.34%] direct ("Retail Mortgage Loans")
Approximately [36.66%] wholesale ("Wholesale Mortgage
Loans")
Piggy Back
Mortgage Loans: While all of the Mortgage Loans are secured by first
liens on the related Mortgaged Properties,
approximately [75.7]% of the Mortgaged Properties with
respect to the Initial Mortgage Loans are also
encumbered by second liens originated or acquired by
the Originator (the "Piggy Back Mortage Loans"). The
weighted-average Loan-to-Value Ratio of the Initial
Mortgage Loans is approximately [76.8]%. The
weighted-average combined Loan-to-Value Ratio of the
Initial Mortgage Loans (when considering the additional
liens on the Piggy Back Mortgage Loans) is
approximately [96.7]%.
10% Clean-up Call: The Majority Holder of the Common Stock of the REIT has
the option to exercise a call at par plus accrued
interest when the outstanding Pool Balance equals 10%
or less of the original Pool Balance.
ERISA Consideration: The Notes will be ERISA eligible. However, 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 Notes.
SMMEA Considerations: The Notes will not be SMMEA eligible.
Taxation: The Notes will be treated as debt for federal income
tax purposes and will be issued by a REIT pursuant to
an indenture of an Owner's Trust.
Prospectus: The Notes are being offered pursuant to a Prospectus
which includes a Prospectus Supplement (together, the
"Prospectus"). Complete information with respect to the
Notes 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 Notes may not be consumated
unless the purchaser has received the Prospectus.
Further Information: Call PSI's ABS trading desk at (212) 778-2741, Sean
Arnold (212) 778-4921, Glen Stein (212) 778-2012, or
John Mawe (212) 778-1166 with any questions.
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon * Cap Flr 0.00
Class A1 FLT CUR LIBOR-1M+TBA Accr 0.00000 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table DMrg Act/360 Roll@
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22+ 49.180 32.804 40.731 47.021 52.124 56.418 60.085
99-23 47.378 31.865 39.374 45.333 50.167 54.234 57.708
99-23+ 45.576 30.926 38.018 43.645 48.210 52.050 55.331
99-24 43.774 29.988 36.662 41.957 46.253 49.868 52.955
99-24+ 41.973 29.049 35.306 40.270 44.297 47.685 50.579
99-25 40.172 28.111 33.950 38.583 42.341 45.503 48.204
99-25+ 38.372 27.173 32.594 36.896 40.386 43.321 45.829
99-26 36.572 26.236 31.239 35.210 38.430 41.140 43.455
99-26+ 34.772 25.298 29.885 33.524 36.476 38.959 41.081
99-27 32.973 24.361 28.530 31.838 34.521 36.779 38.708
99-27+ 31.174 23.424 27.176 30.153 32.568 34.599 36.335
99-28 29.376 22.487 25.822 28.468 30.614 32.420 33.962
99-28+ 27.577 21.551 24.468 26.783 28.661 30.241 31.590
99-29 25.779 20.614 23.115 25.099 26.708 28.062 29.219
99-29+ 23.982 19.678 21.761 23.415 24.756 25.884 26.848
99-30 22.185 18.742 20.409 21.731 22.804 23.706 24.477
99-30+ 20.388 17.806 19.056 20.048 20.852 21.529 22.107
99-31 18.592 16.871 17.704 18.365 18.901 19.352 19.738
99-31+ 16.796 15.935 16.352 16.682 16.950 17.176 17.369
100-00 15.000 15.000 15.000 15.000 15.000 15.000 15.000
100-00+ 13.205 14.065 13.649 13.318 13.050 12.824 12.632
100-01 11.410 13.130 12.297 11.637 11.100 10.649 10.264
100-01+ 9.615 12.196 10.947 9.955 9.151 8.475 7.897
100-02 7.821 11.261 9.596 8.274 7.202 6.301 5.530
100-02+ 6.027 10.327 8.246 6.594 5.254 4.127 3.164
100-03 4.234 9.393 6.896 4.914 3.306 1.953 0.798
100-03+ 2.440 8.460 5.546 3.234 1.358 -0.220 -1.567
100-04 0.648 7.526 4.196 1.554 -0.589 -2.392 -3.932
100-04+ -1.145 6.593 2.847 -0.125 -2.536 -4.564 -6.296
100-05 -2.937 5.660 1.498 -1.804 -4.482 -6.736 -8.660
100-05+ -4.728 4.727 0.150 -3.482 -6.428 -8.907 -11.024
100-06 -6.520 3.794 -1.199 -5.160 -8.374 -11.078 -13.387
100-06+ -8.311 2.861 -2.547 -6.838 -10.319 -13.248 -15.749
100-07 -10.101 1.929 -3.894 -8.515 -12.264 -15.418 -18.111
100-07+ -11.891 0.997 -5.242 -10.193 -14.209 -17.587 -20.473
100-08 -13.681 0.065 -6.589 -11.869 -16.153 -19.756 -22.834
100-08+ -15.471 -0.866 -7.936 -13.546 -18.097 -21.925 -25.194
100-09 -17.260 -1.798 -9.283 -15.222 -20.040 -24.093 -27.554
100-09+ -19.049 -2.729 -10.629 -16.898 -21.983 -26.261 -29.914
Avg. Life 0.888 1.768 1.194 0.950 0.815 0.728 0.667
1st Pmt. 0.061 0.061 0.061 0.061 0.061 0.061 0.061
Last Pmt. 1.561 3.644 2.311 1.728 1.394 1.228 1.061
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon N/A
Class A2 CUR Accr 0.39325 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22+ 6.547 6.533 6.539 6.545 6.550 6.555 6.560
99-23 6.538 6.529 6.533 6.537 6.541 6.544 6.547
99-23+ 6.530 6.526 6.527 6.529 6.531 6.533 6.534
99-24 6.522 6.522 6.522 6.522 6.522 6.522 6.521
99-24+ 6.513 6.518 6.516 6.514 6.512 6.510 6.509
99-25 6.505 6.514 6.510 6.506 6.503 6.499 6.496
99-25+ 6.496 6.510 6.504 6.499 6.493 6.488 6.483
99-26 6.488 6.507 6.498 6.491 6.484 6.477 6.471
99-26+ 6.479 6.503 6.493 6.483 6.474 6.466 6.458
99-27 6.471 6.499 6.487 6.475 6.465 6.455 6.445
99-27+ 6.463 6.495 6.481 6.468 6.455 6.444 6.433
99-28 6.454 6.491 6.475 6.460 6.446 6.432 6.420
99-28+ 6.446 6.487 6.469 6.452 6.436 6.421 6.407
99-29 6.437 6.484 6.464 6.445 6.427 6.410 6.395
99-29+ 6.429 6.480 6.458 6.437 6.417 6.399 6.382
99-30 6.421 6.476 6.452 6.429 6.408 6.388 6.369
99-30+ 6.412 6.472 6.446 6.422 6.398 6.377 6.357
99-31 6.404 6.468 6.441 6.414 6.389 6.366 6.344
99-31+ 6.395 6.465 6.435 6.406 6.380 6.355 6.331
100-00 6.387 6.461 6.429 6.398 6.370 6.344 6.319
100-00+ 6.378 6.457 6.423 6.391 6.361 6.332 6.306
100-01 6.370 6.453 6.417 6.383 6.351 6.321 6.293
100-01+ 6.362 6.449 6.412 6.375 6.342 6.310 6.281
100-02 6.353 6.446 6.406 6.368 6.332 6.299 6.268
100-02+ 6.345 6.442 6.400 6.360 6.323 6.288 6.255
100-03 6.336 6.438 6.394 6.352 6.313 6.277 6.243
100-03+ 6.328 6.434 6.388 6.345 6.304 6.266 6.230
100-04 6.320 6.430 6.383 6.337 6.295 6.255 6.217
100-04+ 6.311 6.427 6.377 6.329 6.285 6.244 6.205
100-05 6.303 6.423 6.371 6.322 6.276 6.233 6.192
100-05+ 6.295 6.419 6.365 6.314 6.266 6.222 6.179
100-06 6.286 6.415 6.360 6.306 6.257 6.210 6.167
100-06+ 6.278 6.411 6.354 6.299 6.247 6.199 6.154
100-07 6.269 6.408 6.348 6.291 6.238 6.188 6.142
100-07+ 6.261 6.404 6.342 6.283 6.229 6.177 6.129
100-08 6.253 6.400 6.336 6.276 6.219 6.166 6.116
100-08+ 6.244 6.396 6.331 6.268 6.210 6.155 6.104
100-09 6.236 6.392 6.325 6.260 6.200 6.144 6.091
100-09+ 6.227 6.389 6.319 6.253 6.191 6.133 6.078
Avg. Life 2.038 4.938 3.059 2.244 1.798 1.517 1.322
1st Pmt. 1.561 3.644 2.311 1.728 1.394 1.228 1.061
Last Pmt. 2.561 6.311 3.894 2.811 2.228 1.894 1.644
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon N/A
Class A3 CUR Accr 0.39539 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22+ 6.574 6.565 6.569 6.573 6.577 6.580 6.584
99-23 6.569 6.563 6.565 6.568 6.570 6.572 6.575
99-23+ 6.563 6.560 6.561 6.562 6.564 6.565 6.566
99-24 6.557 6.558 6.557 6.557 6.557 6.557 6.557
99-24+ 6.551 6.555 6.553 6.552 6.551 6.549 6.548
99-25 6.546 6.552 6.550 6.547 6.544 6.541 6.539
99-25+ 6.540 6.550 6.546 6.542 6.537 6.534 6.530
99-26 6.534 6.547 6.542 6.536 6.531 6.526 6.521
99-26+ 6.528 6.545 6.538 6.531 6.524 6.518 6.512
99-27 6.523 6.542 6.534 6.526 6.518 6.510 6.503
99-27+ 6.517 6.539 6.530 6.521 6.511 6.503 6.494
99-28 6.511 6.537 6.526 6.516 6.505 6.495 6.485
99-28+ 6.506 6.534 6.522 6.510 6.498 6.487 6.476
99-29 6.500 6.532 6.519 6.505 6.492 6.479 6.467
99-29+ 6.494 6.529 6.515 6.500 6.485 6.471 6.458
99-30 6.488 6.527 6.511 6.495 6.479 6.464 6.449
99-30+ 6.483 6.524 6.507 6.490 6.472 6.456 6.440
99-31 6.477 6.521 6.503 6.484 6.466 6.448 6.431
99-31+ 6.471 6.519 6.499 6.479 6.459 6.440 6.422
100-00 6.465 6.516 6.495 6.474 6.453 6.433 6.413
100-00+ 6.460 6.514 6.491 6.469 6.446 6.425 6.404
100-01 6.454 6.511 6.488 6.464 6.440 6.417 6.395
100-01+ 6.448 6.508 6.484 6.458 6.433 6.409 6.386
100-02 6.443 6.506 6.480 6.453 6.427 6.402 6.377
100-02+ 6.437 6.503 6.476 6.448 6.420 6.394 6.368
100-03 6.431 6.501 6.472 6.443 6.414 6.386 6.359
100-03+ 6.425 6.498 6.468 6.438 6.407 6.379 6.351
100-04 6.420 6.496 6.464 6.433 6.401 6.371 6.342
100-04+ 6.414 6.493 6.460 6.427 6.394 6.363 6.333
100-05 6.408 6.490 6.457 6.422 6.388 6.355 6.324
100-05+ 6.403 6.488 6.453 6.417 6.381 6.348 6.315
100-06 6.397 6.485 6.449 6.412 6.375 6.340 6.306
100-06+ 6.391 6.483 6.445 6.407 6.368 6.332 6.297
100-07 6.385 6.480 6.441 6.401 6.362 6.324 6.288
100-07+ 6.380 6.478 6.437 6.396 6.355 6.317 6.279
100-08 6.374 6.475 6.433 6.391 6.349 6.309 6.270
100-08+ 6.368 6.472 6.430 6.386 6.342 6.301 6.261
100-09 6.363 6.470 6.426 6.381 6.336 6.294 6.252
100-09+ 6.357 6.467 6.422 6.376 6.329 6.286 6.243
Avg. Life 3.096 7.989 4.830 3.451 2.689 2.224 1.904
1st Pmt. 2.561 6.311 3.894 2.811 2.228 1.894 1.644
Last Pmt. 3.728 9.811 5.894 4.144 3.228 2.644 2.228
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon N/A
Class A4 CUR Accr 0.40731 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22+ 6.767 6.763 6.764 6.766 6.769 6.771 6.773
99-23 6.763 6.761 6.762 6.763 6.764 6.766 6.767
99-23+ 6.760 6.759 6.759 6.760 6.760 6.760 6.761
99-24 6.756 6.757 6.757 6.756 6.756 6.755 6.754
99-24+ 6.752 6.755 6.754 6.753 6.751 6.750 6.748
99-25 6.748 6.753 6.752 6.749 6.747 6.745 6.742
99-25+ 6.745 6.751 6.749 6.746 6.743 6.739 6.736
99-26 6.741 6.749 6.747 6.743 6.738 6.734 6.730
99-26+ 6.737 6.747 6.744 6.739 6.734 6.729 6.724
99-27 6.733 6.746 6.742 6.736 6.730 6.724 6.717
99-27+ 6.730 6.744 6.739 6.732 6.725 6.718 6.711
99-28 6.726 6.742 6.736 6.729 6.721 6.713 6.705
99-28+ 6.722 6.740 6.734 6.726 6.717 6.708 6.699
99-29 6.718 6.738 6.731 6.722 6.712 6.703 6.693
99-29+ 6.714 6.736 6.729 6.719 6.708 6.697 6.687
99-30 6.711 6.734 6.726 6.715 6.704 6.692 6.680
99-30+ 6.707 6.732 6.724 6.712 6.700 6.687 6.674
99-31 6.703 6.730 6.721 6.708 6.695 6.682 6.668
99-31+ 6.699 6.728 6.719 6.705 6.691 6.677 6.662
100-00 6.696 6.726 6.716 6.702 6.687 6.671 6.656
100-00+ 6.692 6.724 6.714 6.698 6.682 6.666 6.650
100-01 6.688 6.723 6.711 6.695 6.678 6.661 6.643
100-01+ 6.684 6.721 6.709 6.692 6.674 6.656 6.637
100-02 6.681 6.719 6.706 6.688 6.669 6.650 6.631
100-02+ 6.677 6.717 6.704 6.685 6.665 6.645 6.625
100-03 6.673 6.715 6.701 6.681 6.661 6.640 6.619
100-03+ 6.669 6.713 6.699 6.678 6.656 6.635 6.613
100-04 6.665 6.711 6.696 6.675 6.652 6.630 6.607
100-04+ 6.662 6.709 6.694 6.671 6.648 6.624 6.600
100-05 6.658 6.707 6.691 6.668 6.644 6.619 6.594
100-05+ 6.654 6.705 6.688 6.664 6.639 6.614 6.588
100-06 6.650 6.703 6.686 6.661 6.635 6.609 6.582
100-06+ 6.647 6.701 6.683 6.658 6.631 6.603 6.576
100-07 6.643 6.700 6.681 6.654 6.626 6.598 6.570
100-07+ 6.639 6.698 6.678 6.651 6.622 6.593 6.564
100-08 6.635 6.696 6.676 6.647 6.618 6.588 6.557
100-08+ 6.632 6.694 6.673 6.644 6.613 6.583 6.551
100-09 6.628 6.692 6.671 6.641 6.609 6.577 6.545
100-09+ 6.624 6.690 6.668 6.637 6.605 6.572 6.539
Avg. Life 5.038 12.318 8.349 5.708 4.300 3.447 2.869
1st Pmt. 3.728 9.811 5.894 4.144 3.228 2.644 2.228
Last Pmt. 6.811 14.728 11.311 8.144 5.728 4.561 3.728
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon N/A
Class A5 CUR Accr 0.43236 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 99-31 Inc 0.5 Table Yield Roll@
**** TO MATURITY ****
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-21+ 7.187 7.186 7.186 7.187 7.188 7.190 7.192
99-22 7.185 7.184 7.184 7.185 7.186 7.187 7.188
99-22+ 7.183 7.182 7.183 7.183 7.183 7.184 7.185
99-23 7.181 7.181 7.181 7.181 7.181 7.181 7.181
99-23+ 7.179 7.179 7.179 7.179 7.179 7.178 7.178
99-24 7.177 7.177 7.177 7.177 7.176 7.175 7.175
99-24+ 7.174 7.176 7.175 7.175 7.174 7.173 7.171
99-25 7.172 7.174 7.174 7.173 7.171 7.170 7.168
99-25+ 7.170 7.172 7.172 7.171 7.169 7.167 7.164
99-26 7.168 7.171 7.170 7.169 7.167 7.164 7.161
99-26+ 7.166 7.169 7.168 7.167 7.164 7.161 7.158
99-27 7.164 7.168 7.166 7.165 7.162 7.159 7.154
99-27+ 7.162 7.166 7.165 7.163 7.160 7.156 7.151
99-28 7.159 7.164 7.163 7.161 7.157 7.153 7.148
99-28+ 7.157 7.163 7.161 7.159 7.155 7.150 7.144
99-29 7.155 7.161 7.159 7.157 7.153 7.147 7.141
99-29+ 7.153 7.159 7.157 7.155 7.150 7.144 7.137
99-30 7.151 7.158 7.156 7.153 7.148 7.142 7.134
99-30+ 7.149 7.156 7.154 7.151 7.145 7.139 7.131
99-31 7.147 7.154 7.152 7.149 7.143 7.136 7.127
99-31+ 7.144 7.153 7.150 7.147 7.141 7.133 7.124
100-00 7.142 7.151 7.149 7.144 7.138 7.130 7.120
100-00+ 7.140 7.149 7.147 7.142 7.136 7.127 7.117
100-01 7.138 7.148 7.145 7.140 7.134 7.125 7.114
100-01+ 7.136 7.146 7.143 7.138 7.131 7.122 7.110
100-02 7.134 7.145 7.141 7.136 7.129 7.119 7.107
100-02+ 7.132 7.143 7.140 7.134 7.126 7.116 7.104
100-03 7.129 7.141 7.138 7.132 7.124 7.113 7.100
100-03+ 7.127 7.140 7.136 7.130 7.122 7.111 7.097
100-04 7.125 7.138 7.134 7.128 7.119 7.108 7.094
100-04+ 7.123 7.136 7.132 7.126 7.117 7.105 7.090
100-05 7.121 7.135 7.131 7.124 7.115 7.102 7.087
100-05+ 7.119 7.133 7.129 7.122 7.112 7.099 7.083
100-06 7.117 7.131 7.127 7.120 7.110 7.096 7.080
100-06+ 7.114 7.130 7.125 7.118 7.108 7.094 7.077
100-07 7.112 7.128 7.124 7.116 7.105 7.091 7.073
100-07+ 7.110 7.127 7.122 7.114 7.103 7.088 7.070
100-08 7.108 7.125 7.120 7.112 7.100 7.085 7.067
100-08+ 7.106 7.123 7.118 7.110 7.098 7.082 7.063
Avg. Life 10.934 16.976 14.444 11.932 9.520 7.543 5.986
1st Pmt. 6.811 14.728 11.311 8.144 5.728 4.561 3.728
Last Pmt. 17.811 27.811 23.894 19.061 15.811 14.978 13.394
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon N/A
Class A5 CUR Accr 0.43236 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 99-31 Inc 0.5 Table Yield Roll@
**** TO CALL ****
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-21+ 7.188 7.186 7.186 7.187 7.189 7.191 7.193
99-22 7.186 7.184 7.184 7.185 7.186 7.188 7.189
99-22+ 7.183 7.182 7.183 7.183 7.184 7.184 7.185
99-23 7.181 7.181 7.181 7.181 7.181 7.181 7.181
99-23+ 7.179 7.179 7.179 7.179 7.178 7.178 7.178
99-24 7.176 7.177 7.177 7.177 7.176 7.175 7.174
99-24+ 7.174 7.176 7.175 7.174 7.173 7.172 7.170
99-25 7.172 7.174 7.173 7.172 7.171 7.169 7.167
99-25+ 7.169 7.172 7.172 7.170 7.168 7.166 7.163
99-26 7.167 7.170 7.170 7.168 7.165 7.162 7.159
99-26+ 7.165 7.169 7.168 7.166 7.163 7.159 7.155
99-27 7.162 7.167 7.166 7.164 7.160 7.156 7.152
99-27+ 7.160 7.165 7.164 7.162 7.158 7.153 7.148
99-28 7.158 7.163 7.162 7.159 7.155 7.150 7.144
99-28+ 7.155 7.162 7.160 7.157 7.152 7.147 7.140
99-29 7.153 7.160 7.159 7.155 7.150 7.143 7.137
99-29+ 7.151 7.158 7.157 7.153 7.147 7.140 7.133
99-30 7.149 7.156 7.155 7.151 7.145 7.137 7.129
99-30+ 7.146 7.155 7.153 7.149 7.142 7.134 7.126
99-31 7.144 7.153 7.151 7.146 7.139 7.131 7.122
99-31+ 7.142 7.151 7.149 7.144 7.137 7.128 7.118
100-00 7.139 7.149 7.148 7.142 7.134 7.125 7.114
100-00+ 7.137 7.148 7.146 7.140 7.132 7.121 7.111
100-01 7.135 7.146 7.144 7.138 7.129 7.118 7.107
100-01+ 7.132 7.144 7.142 7.136 7.127 7.115 7.103
100-02 7.130 7.143 7.140 7.134 7.124 7.112 7.099
100-02+ 7.128 7.141 7.138 7.131 7.121 7.109 7.096
100-03 7.125 7.139 7.136 7.129 7.119 7.106 7.092
100-03+ 7.123 7.137 7.135 7.127 7.116 7.103 7.088
100-04 7.121 7.136 7.133 7.125 7.114 7.099 7.085
100-04+ 7.118 7.134 7.131 7.123 7.111 7.096 7.081
100-05 7.116 7.132 7.129 7.121 7.108 7.093 7.077
100-05+ 7.114 7.130 7.127 7.119 7.106 7.090 7.073
100-06 7.112 7.129 7.125 7.116 7.103 7.087 7.070
100-06+ 7.109 7.127 7.124 7.114 7.101 7.084 7.066
100-07 7.107 7.125 7.122 7.112 7.098 7.081 7.062
100-07+ 7.105 7.123 7.120 7.110 7.095 7.078 7.059
100-08 7.102 7.122 7.118 7.108 7.093 7.074 7.055
100-08+ 7.100 7.120 7.116 7.106 7.090 7.071 7.051
Avg. Life 9.620 15.017 13.566 10.691 8.212 6.399 5.186
1st Pmt. 6.811 14.728 11.311 8.144 5.728 4.561 3.728
Last Pmt. 07/15/08 01/15/13 04/15/12 07/15/09 04/15/07 08/15/05 05/15/04
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon N/A
Class A6 NAS Accr 0.40517 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 99-31+ Inc 0.5 Table Yield Roll@
**** TO MATURITY ****
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22 6.732 6.731 6.732 6.732 6.733 6.733 6.734
99-22+ 6.730 6.728 6.729 6.729 6.730 6.730 6.730
99-23 6.727 6.726 6.726 6.727 6.727 6.727 6.727
99-23+ 6.724 6.723 6.724 6.724 6.724 6.724 6.724
99-24 6.721 6.721 6.721 6.721 6.721 6.721 6.721
99-24+ 6.718 6.718 6.718 6.718 6.718 6.717 6.717
99-25 6.715 6.716 6.715 6.715 6.715 6.714 6.714
99-25+ 6.712 6.714 6.713 6.712 6.712 6.711 6.711
99-26 6.709 6.711 6.710 6.709 6.709 6.708 6.707
99-26+ 6.706 6.709 6.707 6.706 6.706 6.705 6.704
99-27 6.703 6.706 6.705 6.704 6.703 6.702 6.701
99-27+ 6.700 6.704 6.702 6.701 6.700 6.699 6.698
99-28 6.697 6.701 6.699 6.698 6.696 6.695 6.694
99-28+ 6.694 6.699 6.697 6.695 6.693 6.692 6.691
99-29 6.691 6.696 6.694 6.692 6.690 6.689 6.688
99-29+ 6.688 6.694 6.691 6.689 6.687 6.686 6.685
99-30 6.685 6.691 6.689 6.686 6.684 6.683 6.681
99-30+ 6.683 6.689 6.686 6.683 6.681 6.680 6.678
99-31 6.680 6.686 6.683 6.681 6.678 6.676 6.675
99-31+ 6.677 6.684 6.680 6.678 6.675 6.673 6.671
100-00 6.674 6.681 6.678 6.675 6.672 6.670 6.668
100-00+ 6.671 6.679 6.675 6.672 6.669 6.667 6.665
100-01 6.668 6.676 6.672 6.669 6.666 6.664 6.662
100-01+ 6.665 6.674 6.670 6.666 6.663 6.661 6.658
100-02 6.662 6.671 6.667 6.663 6.660 6.658 6.655
100-02+ 6.659 6.669 6.664 6.660 6.657 6.654 6.652
100-03 6.656 6.667 6.662 6.658 6.654 6.651 6.649
100-03+ 6.653 6.664 6.659 6.655 6.651 6.648 6.645
100-04 6.650 6.662 6.656 6.652 6.648 6.645 6.642
100-04+ 6.647 6.659 6.654 6.649 6.645 6.642 6.639
100-05 6.645 6.657 6.651 6.646 6.642 6.639 6.636
100-05+ 6.642 6.654 6.648 6.643 6.639 6.636 6.632
100-06 6.639 6.652 6.646 6.640 6.636 6.632 6.629
100-06+ 6.636 6.649 6.643 6.638 6.633 6.629 6.626
100-07 6.633 6.647 6.640 6.635 6.630 6.626 6.623
100-07+ 6.630 6.644 6.637 6.632 6.627 6.623 6.619
100-08 6.627 6.642 6.635 6.629 6.624 6.620 6.616
100-08+ 6.624 6.639 6.632 6.626 6.621 6.617 6.613
100-09 6.621 6.637 6.629 6.623 6.618 6.614 6.610
Avg. Life 6.932 8.710 7.769 7.131 6.676 6.319 6.038
1st Pmt. 3.061 3.061 3.061 3.061 3.061 3.061 3.061
Last Pmt. 14.978 14.978 14.978 14.978 14.978 14.978 13.228
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Deal ID/CUSIP EMC74 Coupon N/A
Class A6 NAS Accr 0.40517 1st Pmt 01/15/98
Collateral 100% HEL (Real) Factor on / /
N/GWAC (Orig) / (10.744/11.244) LIBOR-1M 5.68750
WAM (Orig) (21.301) Mat N/A Settle 12/23/97
CenterPrice 99-31+ Inc 0.5 Table Yield Roll@
**** TO CALL ****
HEP 17.00 HEP 5.00 HEP 10.00 HEP 15.00 HEP 20.00 HEP 25.00 HEP 30.00
Price
----- --------- --------- --------- --------- --------- --------- ---------
99-22 6.733 6.731 6.732 6.732 6.733 6.734 6.734
99-22+ 6.730 6.728 6.729 6.729 6.730 6.730 6.731
99-23 6.727 6.726 6.726 6.727 6.727 6.727 6.727
99-23+ 6.724 6.723 6.724 6.724 6.724 6.724 6.724
99-24 6.721 6.721 6.721 6.721 6.721 6.721 6.720
99-24+ 6.718 6.718 6.718 6.718 6.718 6.717 6.717
99-25 6.715 6.716 6.715 6.715 6.715 6.714 6.713
99-25+ 6.712 6.714 6.713 6.712 6.712 6.711 6.710
99-26 6.709 6.711 6.710 6.709 6.708 6.708 6.706
99-26+ 6.706 6.709 6.707 6.706 6.705 6.704 6.703
99-27 6.703 6.706 6.705 6.703 6.702 6.701 6.699
99-27+ 6.700 6.704 6.702 6.701 6.699 6.698 6.696
99-28 6.697 6.701 6.699 6.698 6.696 6.695 6.692
99-28+ 6.694 6.699 6.697 6.695 6.693 6.692 6.689
99-29 6.691 6.696 6.694 6.692 6.690 6.688 6.685
99-29+ 6.688 6.694 6.691 6.689 6.687 6.685 6.682
99-30 6.685 6.691 6.689 6.686 6.684 6.682 6.678
99-30+ 6.682 6.689 6.686 6.683 6.681 6.679 6.675
99-31 6.679 6.686 6.683 6.680 6.678 6.675 6.671
99-31+ 6.677 6.684 6.680 6.678 6.675 6.672 6.668
100-00 6.674 6.681 6.678 6.675 6.672 6.669 6.664
100-00+ 6.671 6.679 6.675 6.672 6.669 6.666 6.661
100-01 6.668 6.676 6.672 6.669 6.666 6.663 6.657
100-01+ 6.665 6.674 6.670 6.666 6.663 6.659 6.654
100-02 6.662 6.671 6.667 6.663 6.660 6.656 6.650
100-02+ 6.659 6.669 6.664 6.660 6.657 6.653 6.647
100-03 6.656 6.667 6.662 6.657 6.654 6.650 6.643
100-03+ 6.653 6.664 6.659 6.655 6.651 6.646 6.640
100-04 6.650 6.662 6.656 6.652 6.648 6.643 6.636
100-04+ 6.647 6.659 6.654 6.649 6.645 6.640 6.633
100-05 6.644 6.657 6.651 6.646 6.642 6.637 6.629
100-05+ 6.641 6.654 6.648 6.643 6.639 6.634 6.626
100-06 6.638 6.652 6.646 6.640 6.636 6.630 6.622
100-06+ 6.635 6.649 6.643 6.637 6.633 6.627 6.619
100-07 6.632 6.647 6.640 6.635 6.630 6.624 6.615
100-07+ 6.630 6.644 6.637 6.632 6.627 6.621 6.612
100-08 6.627 6.642 6.635 6.629 6.623 6.618 6.608
100-08+ 6.624 6.639 6.632 6.626 6.620 6.614 6.605
100-09 6.621 6.637 6.629 6.623 6.617 6.611 6.601
Avg. Life 6.890 8.710 7.764 7.104 6.602 6.118 5.502
1st Pmt. 3.061 3.061 3.061 3.061 3.061 3.061 3.061
Last Pmt. 07/15/08 14.978 04/15/12 07/15/09 04/15/07 08/15/05 05/15/04
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
- --------------------------------------------------------------------------------
- EMERGENT 1997-4
- Cut Off Date of Tape is 11/10/97
- FIXED RATE COLLATERAL
- $47,719,071.98
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 680
Lien Status: First Lien Loans
Aggregate Unpaid Principal Balance: $47,719,071.98
Aggregate Original Principal Balance: $47,723,380.18
Weighted Average Gross Coupon: 11.244%
Gross Coupon Range: 8.500% - 15.750%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $70,175.11
Average Original Principal Balance: $70,181.44
Maximum Unpaid Principal Balance: $338,000.00
Minimum Unpaid Principal Balance: $11,200.00
Maximum Original Principal Balance: $338,000.00
Minimum Original Principal Balance: $11,200.00
Weighted Avg. Stated Rem. Term (LPD to Mat/Bln Date): 205.653
Stated Rem Term Range: 119.000 - 360.000
Weighted Avg. Amortized Rem. Term: 254.526
Amortized Rem Term Range: 118.435 - 359.995
Weighted Average Age (First Pay thru Last Pay): 0.465
Age Range: 0.000 - 5.000
Weighted Average Original Term (to Mat/Bln Date): 206.118
Original Term Range: 120.000 - 361.000
Weighted Average Original LTV: 76.842
Original LTV Range: 11.000% - 90.000%
Weighted Average Combined LTV: 96.735 (1)
Combined LTV Range: 11.000% - 125.000%
Weighted Average FICO Score: 605.524 * Excluding 7
FICO Score Range: 434 - 812 loans which
do not have
available
scores.
Weighted Average Debt to Income: 42.091
Debt to Income Range: 8.000 - 63.000
(1) The loans we are securitizing are all first lien loans, however, the
majority of these loans have a second lien behind it. The second lien
mortgage balance is incorporated into the CLTV calculation.
Combined LTV for only those loans which have 2nd lien behind the first is
102.876
- --------------------------------------------------------------------------------
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
8.25% < Gross Coupon <= 8.50% 2 133,000.00 0.28
8.75% < Gross Coupon <= 9.00% 10 801,570.00 1.68
9.00% < Gross Coupon <= 9.25% 3 386,843.15 0.81
9.25% < Gross Coupon <= 9.50% 42 2,869,318.16 6.01
9.50% < Gross Coupon <= 9.75% 17 1,293,977.57 2.71
9.75% < Gross Coupon <= 10.00% 60 3,981,281.46 8.34
10.00% < Gross Coupon <= 10.25% 15 1,140,250.00 2.39
10.25% < Gross Coupon <= 10.50% 31 2,190,438.62 4.59
10.50% < Gross Coupon <= 10.75% 28 1,979,729.82 4.15
10.75% < Gross Coupon <= 11.00% 53 3,801,845.99 7.97
11.00% < Gross Coupon <= 11.25% 103 7,184,533.31 15.06
11.25% < Gross Coupon <= 11.50% 36 3,218,287.97 6.74
11.50% < Gross Coupon <= 11.75% 46 2,652,573.03 5.56
11.75% < Gross Coupon <= 12.00% 46 3,469,751.25 7.27
12.00% < Gross Coupon <= 12.25% 39 2,618,053.44 5.49
12.25% < Gross Coupon <= 12.50% 47 3,282,025.70 6.88
12.50% < Gross Coupon <= 12.75% 22 1,368,529.21 2.87
12.75% < Gross Coupon <= 13.00% 28 1,982,284.85 4.15
13.00% < Gross Coupon <= 13.25% 11 827,159.09 1.73
13.25% < Gross Coupon <= 13.50% 17 1,025,847.96 2.15
13.50% < Gross Coupon <= 13.75% 4 378,098.40 0.79
13.75% < Gross Coupon <= 14.00% 9 467,696.97 0.98
14.00% < Gross Coupon <= 14.25% 3 196,970.15 0.41
14.25% < Gross Coupon <= 14.50% 3 198,378.07 0.42
14.50% < Gross Coupon <= 14.75% 2 122,220.80 0.26
15.25% < Gross Coupon <= 15.50% 2 108,075.70 0.23
15.50% < Gross Coupon <= 15.75% 1 40,331.31 0.08
- --------------------------------------------------------------------------------
Total.......... 680 $ 47,719,071.98 100.00%
================================================================================
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
108 < Rem Term <= 120 47 2,062,783.31 4.32%
120 < Rem Term <= 132 2 99,329.37 0.21%
132 < Rem Term <= 144 14 804,714.90 1.69%
144 < Rem Term <= 156 2 113,201.13 0.24%
156 < Rem Term <= 168 8 404,158.52 0.85%
168 < Rem Term <= 180 450 31,981,274.78 67.02%
180 < Rem Term <= 192 3 256,950.24 0.54%
228 < Rem Term <= 240 81 5,880,169.77 12.32%
240 < Rem Term <= 252 2 160,344.24 0.34%
252 < Rem Term <= 264 1 142,207.80 0.30%
276 < Rem Term <= 288 1 180,001.00 0.38%
288 < Rem Term <= 300 3 286,831.87 0.60%
348 < Rem Term <= 360 66 5,347,105.05 11.21%
- -------------------------------------------------------------------
Total............ 680 47,719,071.98 100.00%
===================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1997 680 47,719,071.98 100.00
- --------------------------------------------------------------------------
Total................. 680 $ 47,719,071.98 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
LAST PAYMENT DATE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
09/29/97 1 73,518.83 0.15
10/01/97 2 97,279.49 0.20
10/06/97 1 32,434.67 0.07
10/07/97 2 279,701.60 0.59
10/10/97 8 507,246.76 1.06
10/13/97 7 681,765.38 1.43
10/14/97 35 2,398,296.37 5.03
10/15/97 30 2,014,209.57 4.22
10/16/97 33 2,344,139.83 4.91
10/17/97 25 1,865,735.49 3.91
10/19/97 1 165,000.00 0.35
10/20/97 46 3,310,149.11 6.94
10/21/97 25 1,787,749.74 3.75
10/22/97 33 1,996,812.15 4.18
10/23/97 7 392,605.42 0.82
10/24/97 27 2,102,367.67 4.41
10/25/97 1 107,409.85 0.23
10/27/97 2 78,215.91 0.16
10/29/97 2 117,003.98 0.25
10/30/97 1 148,000.00 0.31
10/31/97 3 149,949.24 0.31
11/01/97 271 19,140,791.47 40.11
11/03/97 30 2,160,173.74 4.53
11/04/97 23 1,487,708.55 3.12
11/05/97 26 1,944,554.72 4.08
11/06/97 7 543,909.08 1.14
11/07/97 31 1,792,343.36 3.76
- --------------------------------------------------------------------------
Total.................. 680 $ 47,719,071.98 100.00%
==========================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
ORIGINAL LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
10.000 < LTV <= 15.000 2 45,517.10 0.10
20.000 < LTV <= 25.000 1 11,200.00 0.02
25.000 < LTV <= 30.000 2 64,737.62 0.14
35.000 < LTV <= 40.000 4 169,000.00 0.35
40.000 < LTV <= 45.000 1 64,794.00 0.14
45.000 < LTV <= 50.000 4 118,283.22 0.25
50.000 < LTV <= 55.000 7 210,238.86 0.44
55.000 < LTV <= 60.000 9 447,673.02 0.94
60.000 < LTV <= 65.000 20 900,640.03 1.89
65.000 < LTV <= 70.000 182 10,313,056.96 21.61
70.000 < LTV <= 75.000 158 12,043,393.86 25.24
75.000 < LTV <= 80.000 176 12,850,736.35 26.93
80.000 < LTV <= 85.000 44 3,281,985.08 6.88
85.000 < LTV <= 90.000 70 7,197,815.88 15.08
- --------------------------------------------------------------------------
Total.................... 680 $ 47,719,071.98 100.00%
==========================================================================
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original CLTV Ratio Loans Balance Balance
10.000 < CLTV <= 15.000 2 45,517.10 0.10
20.000 < CLTV <= 25.000 1 11,200.00 0.02
25.000 < CLTV <= 30.000 2 64,737.62 0.14
35.000 < CLTV <= 40.000 4 169,000.00 0.35
40.000 < CLTV <= 45.000 1 64,794.00 0.14
45.000 < CLTV <= 50.000 3 94,283.22 0.20
50.000 < CLTV <= 55.000 4 134,902.23 0.28
55.000 < CLTV <= 60.000 8 403,660.92 0.85
60.000 < CLTV <= 65.000 6 325,316.75 0.68
65.000 < CLTV <= 70.000 16 751,602.28 1.58
70.000 < CLTV <= 75.000 27 1,787,466.94 3.75
75.000 < CLTV <= 80.000 55 4,244,759.98 8.90
80.000 < CLTV <= 85.000 36 1,985,153.41 4.16
85.000 < CLTV <= 90.000 58 4,647,666.46 9.74
90.000 < CLTV <= 95.000 41 3,192,689.58 6.69
95.000 < CLTV <= 100.000 305 21,254,270.84 44.54
100.000 < CLTV <= 105.000 5 354,318.21 0.74
105.000 < CLTV <= 110.000 8 622,081.48 1.30
110.000 < CLTV <= 115.000 8 1,019,401.68 2.14
115.000 < CLTV <= 120.000 14 1,263,870.25 2.65
120.000 < CLTV <= 125.000 76 5,282,379.03 11.07
- --------------------------------------------------------------------------
Total.................... 680 $ 47,719,071.98 100.00%
==========================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
10,000 < Balance <= 15,000 2 25,400.00 0.05
15,000 < Balance <= 20,000 4 77,525.19 0.16
20,000 < Balance <= 25,000 13 302,628.60 0.63
25,000 < Balance <= 30,000 27 739,522.77 1.55
30,000 < Balance <= 35,000 38 1,238,869.54 2.60
35,000 < Balance <= 40,000 41 1,557,468.27 3.26
40,000 < Balance <= 45,000 56 2,394,997.48 5.02
45,000 < Balance <= 50,000 62 2,948,846.84 6.18
50,000 < Balance <= 55,000 56 2,946,946.45 6.18
55,000 < Balance <= 60,000 59 3,422,428.81 7.17
60,000 < Balance <= 65,000 53 3,323,871.77 6.97
65,000 < Balance <= 70,000 38 2,567,112.69 5.38
70,000 < Balance <= 75,000 30 2,175,052.99 4.56
75,000 < Balance <= 80,000 33 2,549,725.61 5.34
80,000 < Balance <= 85,000 24 1,982,467.48 4.15
85,000 < Balance <= 90,000 15 1,319,937.93 2.77
90,000 < Balance <= 95,000 13 1,206,846.20 2.53
95,000 < Balance <= 100,000 10 976,000.23 2.05
100,000 < Balance <= 105,000 10 1,020,638.51 2.14
105,000 < Balance <= 110,000 12 1,290,633.32 2.70
110,000 < Balance <= 115,000 8 899,973.72 1.89
115,000 < Balance <= 120,000 12 1,415,566.85 2.97
120,000 < Balance <= 125,000 2 246,857.50 0.52
125,000 < Balance <= 130,000 9 1,137,004.98 2.38
130,000 < Balance <= 135,000 5 661,537.30 1.39
135,000 < Balance <= 140,000 6 830,436.98 1.74
140,000 < Balance <= 145,000 5 712,892.01 1.49
145,000 < Balance <= 150,000 1 148,000.00 0.31
150,000 < Balance <= 200,000 21 3,691,557.30 7.74
200,000 < Balance <= 250,000 4 884,056.77 1.85
250,000 < Balance <= 300,000 9 2,375,017.89 4.98
300,000 < Balance <= 350,000 2 649,250.00 1.36
- --------------------------------------------------------------------------
Total.................... 680 $ 47,719,071.98 100.00%
==========================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AR 1 41,243.58 0.09
AZ 17 1,231,338.19 2.58
CO 4 517,605.90 1.08
FL 75 5,125,517.82 10.74
GA 48 4,299,964.00 9.01
IA 13 616,772.59 1.29
ID 4 250,211.90 0.52
IL 33 2,713,354.90 5.69
IN 24 1,497,698.12 3.14
KS 23 1,640,907.89 3.44
KY 13 652,266.77 1.37
LA 46 2,656,293.92 5.57
MD 21 1,917,750.35 4.02
ME 4 231,996.20 0.49
MI 36 2,444,710.45 5.12
MO 26 1,671,399.77 3.50
MS 27 1,206,721.30 2.53
MT 8 590,605.68 1.24
NC 105 6,977,439.59 14.62
ND 3 163,294.13 0.34
NE 13 1,033,954.72 2.17
NM 10 791,729.18 1.66
OH 2 65,786.49 0.14
OK 10 490,778.10 1.03
OR 3 335,099.35 0.70
PA 12 799,574.65 1.68
SC 7 451,605.77 0.95
SD 2 143,946.56 0.30
TN 31 2,036,846.91 4.27
UT 6 1,003,228.03 2.10
VA 32 3,006,754.98 6.30
WI 1 95,120.00 0.20
WV 17 802,470.69 1.68
WY 3 215,083.50 0.45
- --------------------------------------------------------------------------
Total............... 680 $ 47,719,071.98 100.00%
==========================================================================
PROPERTY TYPE SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Investor/Rental Property 26 1,612,218.58 3.38
Mobile/Manufactured Homes 85 4,729,971.92 9.91
Primary Financing Only 2 94,292.80 0.20
Residential Property 567 41,282,588.68 86.51
- --------------------------------------------------------------------------
Total............... 680 $ 47,719,071.98 100.00%
==========================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN PURPOSE SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Debt Consol.-Cash Out 188 12,625,492.02 26.46
Debt Consol.-No Cash Out 172 12,617,091.84 26.44
Home Improv.-Cash Out 11 521,404.88 1.09
Home Improv.-No Cash Out 12 829,572.60 1.74
Multi.Purp.HI-Cash Out 90 6,123,739.51 12.83
Multi.Purp.HI-No Cash Out 44 3,420,390.20 7.17
Purchase-Cash Out 4 244,350.00 0.51
Purchase-No Cash Out 85 6,017,340.09 12.61
Refinance-Cash Out 39 3,125,167.66 6.55
Refinance-No Cash Out 35 2,194,523.18 4.60
- --------------------------------------------------------------------------
Total............... 680 $ 47,719,071.98 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 649 45,733,743.73 95.84
Non Owner Occ. 31 1,985,328.25 4.16
- --------------------------------------------------------------------------
Total.................. 680 $ 47,719,071.98 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Full Documentation 655 45,205,481.42 94.73
Stated Documentation 8 745,271.94 1.56
Lite Documentation 17 1,768,318.62 3.71
- --------------------------------------------------------------------------------
Total.................. 680 $47,719,071.98 100.00%
================================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
ORIGINATION SOURCE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Greenville Home 123 8,134,144.16 17.05
Houston Home 16 1,256,608.87 2.63
Indiana Home 122 8,524,904.21 17.86
Phoenix Home 144 10,131,682.44 21.23
Sterling 41 2,175,944.51 4.56
Wholesale 234 17,495,787.79 36.66
- --------------------------------------------------------------------------
Total.................. 680 $ 47,719,071.98 100.00%
==========================================================================
LOAN GRADE SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
AA 77 6,383,606.52 13.38
A 435 31,187,172.31 65.36
B 121 7,514,726.40 15.75
C 47 2,633,566.75 5.52
- --------------------------------------------------------------------------
Total............... 680 $ 47,719,071.98 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 518 34,749,064.95 72.82
Partially Amortizing 162 12,970,007.03 27.18
- --------------------------------------------------------------------------
Total.................. 680 $ 47,719,071.98 100.00%
==========================================================================
2ND LIEN BEHIND 1ST LIEN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
No 174 11,592,255.28 24.29
Yes 506 36,126,816.70 75.71
- --------------------------------------------------------------------------
Total............... 680 $ 47,719,071.98 100.00%
==========================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
CURRENT FICO RANGE
- --------------------------------------------------------------------------------
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
# Principal Principal
Loan Balance Balance
425 < FICO <= 450 4 215,304.80 0.45
450 < FICO <= 475 11 915,110.47 1.92
475 < FICO <= 500 16 1,365,406.44 2.86
500 < FICO <= 525 42 2,860,900.69 6.00
525 < FICO <= 550 79 5,544,946.22 11.62
550 < FICO <= 575 87 5,466,913.28 11.46
575 < FICO <= 600 75 5,093,774.83 10.67
600 < FICO <= 625 97 6,732,985.85 14.11
625 < FICO <= 650 91 6,681,661.92 14.00
650 < FICO <= 675 86 6,172,272.21 12.93
675 < FICO <= 700 45 3,278,737.20 6.87
700 < FICO <= 725 18 1,417,300.65 2.97
725 < FICO <= 750 13 991,247.63 2.08
750 < FICO <= 775 6 305,805.12 0.64
775 < FICO <= 800 1 148,000.00 0.31
800 < FICO <= 825 2 75,834.67 0.16
FICO NOT AVAILABLE 7 452,870.00 0.95
- ------------------------------------------------------------------------------
Total.................... 680 $ 47,719,071.98 100.00%
==============================================================================
ORIGINAL DTI RANGE
- --------------------------------------------------------------------------------
Percentage of
Aggregate Cut-Off Date
RESERVED Unpaid Aggregate
STRING5 # Principal Principal
RANGE Loan Balance Balance
0.000 < DTI <= 10.000 1 76,500.00 0.16
10.000 < DTI <= 20.000 17 725,757.84 1.52
20.000 < DTI <= 30.000 91 4,761,356.16 9.98
30.000 < DTI <= 40.000 203 13,211,079.95 27.69
40.000 < DTI <= 50.000 280 21,514,062.96 45.08
50.000 < DTI <= 60.000 84 7,050,509.29 14.78
60.000 < DTI <= 70.000 4 379,805.78 0.80
- ------------------------------------------------------------------------------
Total.................... 680 47,719,071.98 100.00%
==============================================================================
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 STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
