<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 17, 1997
Prudential Securities Secured Financing Corporation
----------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-27355 13-3526694
- --------------------------------- ---------------- ------------------
(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation) 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) 778-1000
--------------
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 1997-2,
Mortgage Pass-Through Certificates, Series 1997-2, described in a Prospectus
Supplement dated September, 1997, 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) Exhibits 99.1 and 99.2. 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 1997-2
Registrant
By: /s/ Norman Chaleff
-----------------------
Name: Norman Chaleff
Title: Vice President
Dated: September 17, 1997
<PAGE>
EXHIBIT INDEX
-------------
Exhibit No. Description
- ----------- -----------
99.1 Related Computational Materials
(as defined in Item 5 above).
99.2 Related Computational Materials
(as defined in Item 5 above).
<PAGE>
PRELIMINARY
BACKGROUND INFORMATION
American Business Financial Services
ABFS Mortgage Loan Trust 1997-2
APPROXIMATE CLASS SIZES
[$36,400,000] Class A-1 FLOATING RATE CERTIFICATES
[$10,000,000] Class A-2 FIXED RATE CERTIFICATES
[$20,200,000] Class A-3 FIXED RATE CERTIFICATES
[$10,400,000] Class A-4 FIXED RATE CERTIFICATES
[$11,000,000] Class A-5 FIXED RATE CERTIFICATES
[$10,000,000] Class A-6 FIXED RATE CERTIFICATES
Non-Accelerated Senior
The information provided herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the American Business Financial Services
Mortgage Loan Trust 1997-1 transaction, and not by, or as agent for American
Business Financial Services, Inc. ("ABFS" or the "Company") 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 Company. PSI makes no
representations as to the accuracy of such information provided to it by the
Company. 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 Financial Services - ABFS Mortgage Loan Trust 1997-2
PRICING INFORMATION
----------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
Class: A-1* A-2 A-3 A-4 A-5 A-6
NAS Bond
Approximate
Face Amount: [36,400,000] [10,000,000] [20,200,000] [10,400,000] [11,000,000] [10,000,000]
Coupon: [ ]% [ ]% [ ]% [ ]% [ ]% [ ]%
Price: [ ] [ ] [ ] [ ] [ ] [ ]
Yield: [ ]% [ ]% [ ]% [ ]% [ ]% [ ]%
Spread: [ ] [ ] [ ] [ ] [ ] [ ]
Exp Avg Life
to Maturity: [0.95]yrs [2.06]yrs [3.1]yrs [5.01]yrs [9.81]yrs [6.5]yrs
Exp Avg Life
to Call: [0.95]yrs [2.06]yrs [3.1]yrs [5.01]yrs [8.00]yrs [6.38]yrs
Exp 1st
Prin Pmt: [10/15/97 07/15/99 02/15/00 11/15/01 11/15/03 10/15/00]
Exp Mat
to call: [07/15/99 02/15/00 11/15/01 11/15/03 03/15/06 03/15/06]
Exp Mat: [07/15/99 02/15/00 11/15/01 11/15/03 08/15/12 07/15/12]
Stated Mat: [03/15/12 07/15/12 09/15/14 10/15/16 01/15/29 01/15/29]
Exp Rating
(S&P/Moody's): AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa
Pricing Spd: 23% HEP 23% HEP 23% HEP 23% HEP 23% HEP 23% HEP
Pricing Date: [less than ----------------------------TBD--------------------------------------more than]
Investor
Settle Date: [9/29/97] [9/29/97] [9/29/97] [9/29/97] [9/29/97] [9/29/97]
Cut-off Date: 8/31/97 8/31/97 8/31/97 8/31/97 8/31/97 8/31/97
Pmt Delay: 0 days 14 days 14 days 14 days 14 days 14 days
Dated Date: [9/29/97] 9/1/97 9/1/97 9/1/97 9/1/97 9/1/97
Int Pmt: actual/360 30/360 30/360 30/360 30/360 30/360
Pmt Terms: Monthly Monthly Monthly Monthly Monthly Monthly
1st Int.
Pmt Date: 10/15/97 10/15/97 10/15/97 10/15/97 10/15/97 10/15/97
Collateral
Type: Fixed Rate Fixed Rate Fixed Rate Fixed Rate Fixed Rate Fixed Rate
SMMEA
Eligibility: non-SMMEA non-SMMEA non-SMMEA non-SMMEA non-SMMEA non-SMMEA
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
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.
<PAGE>
American Business Financial Services - ABFS Mortgage Loan Trust 1997-2
<TABLE>
<CAPTION>
<S> <C>
*Class A-1 Net Funds Cap: The Pass-Through Rate on the Class A-1 Certificates will equal the lesser of:
1) Class A-1 Pass-Through Rate (One Month LIBOR + [ ]bps)
2) Available Funds Cap
Available Funds Cap: A rate equal to the weighted average net coupon rate (i.e., the weighted average
***** coupon less 0.xx% for servicing fee, trustee fee and certificate insurer premium)
for the Mortgage Loans for such Distribution Date.
Cashflow Priority: 1) Repayment of unreimbursed Servicer advances;
2) Servicing fee;
3) Trustee fee;
4) Surety fee;
5) Repayment of unreimbursed Surety payments;
6) Accrued monthly interest for Class A Certificateholders (pro-rata);
7) Monthly principal to the Class A Certificateholders (as described below);
8) Excess cashflow to build over-collateralization ("O/C"); and
9) Any remaining excess cashflow to the holders of the Class R Certificates.
Class A Certificate
Principal Paydown: 1) To the Class A-6 Certificateholders -- the Class A-6 Lockout Remittance Amount
2) To the Class A-1 through A-5 Certificates, in sequential order
Class A-6 Lockout
Remittance Amount: The applicable Class A-6 Lockout Percentage multiplied by the Class A-6 Lockout
Pro Rata Remittance Amount for such Payment Date.
THE CLASS A-6 Lockout Pertcentage
----------------------------------
October 1997 to September 2000 -- (more than) 0%
October 2000 to September 2002 -- (more than) 45%
October 2002 to September 2003 -- (more than) 80%
October 2003 to September 2004 -- (more than) 100%
October 2004 and thereafter -- (more than) 300%
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
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.
<PAGE>
American Business Financial Services - ABFS Mortgage Loan Trust 1997-2
SUMMARY OF TERMS
--------------------------
<TABLE>
<CAPTION>
<S> <C>
Title of Securities: ABFS Mortgage Loan Trust 1997-2
Mortgage Pass-Through Certificates, Series 1997-2
Class A-1 ("Floating Rate Certificates")
Class A-2, A-3, A-4, A-5, A-6 ("Fixed-Rate
Certificates", together with the Floating Rate
Certificates, the "Class A Certificates").
Depositor: Prudential Securities Secured Financing Corporation
Servicer: American Business Credit, Inc.
Upland Mortgage will act as subservicer.
Originators: American Business Credit, Inc. and Home American Credit, Inc.,
d/b/a Upland Mortgage originated or purchased the Mortgage Loans.
Trustee: The Chase Manhattan Bank, a New York banking corporation.
Aggregate
Certificate Balance: [$ 98,000,000]
Securities Offered: 100% FSA-guaranteed, pass-through certificates.
Offering: Public shelf offering -- a prospectus and prospectus supplement
will be distributed after pricing.
Pricing Date: [TBD]
Investor
Settlement Date: [9/29/97]
Form of Certificates: Book-Entry form, same-day funds through DTC, Euroclear and CEDEL
Pass-Through Rate: [ ]% on Class A-1 Certificates*
[ ]% on Class A-2 Certificates
[ ]% on Class A-3 Certificates
[ ]% on Class A-4 Certificates
[ ]% on Class A-5 Certificates
[ ]% on Class A-6 Certificates
*Subject to the Class A-1 Net Funds Cap
Prepayment
Assumption: 23% HEP (2.3% CPR in month 1 with monthly incremental increases of 2.3% CPR
until the speed reaches 23% CPR in month 10 based on loan seasoning). This
means that seasoned loans will start further up on the prepayment curve.
Payment Date: The 15th day of each month (or, if any such date is not a business day, the first
business day thereafter) commencing in October 1997. The payment delay will be
zero days for the Floating Rate Certificates and [14] days for the Fixed Rate
Certificates.
Interest Accrual
Period: With respect to any Distribution Date, interest on the Floating Rate Certificates will
accrue during the period from the Distribution Date in the immediately preceding month
(or, in the case of the first Distribution Date, from the Closing Date) to the day
immediately preceding the related Distribution Date. Interest on the Floating Rate
Certificates will be calculated on the basis of a 360-day year for the actual number
of days elapsed in each Accrual Period.
With respect to any Distribution Date, interest on the Fixed Rate Certificates will
accrue during the prior calendar month and will be calculated based on a 360-day year
consisting of twelve 30-day months.
Optional
Cleanup Call: The Servicer may call the Class A Certificates on any Remittance Date
when the then-outstanding collateral balance is less than or equal to 10% of the
original collateral balance.
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
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.
<PAGE>
American Business Financial Services - ABFS Mortgage Loan Trust 1997-2
<TABLE>
<CAPTION>
<S> <C>
Credit Enhancement: 1) 100% wrap from FSA.
2) Overcollateralization.
3) Excess monthly cashflow.
Certificate Insurer: Financial Security Assurance Inc. ("FSA").
FSA's claims-paying ability is rated "AAA" by Standard & Poor's
and "Aaa" by Moody's Investors Service.
Certificate Insurance
Policy: The Certificate Insurance Policy will provide 100% coverage of timely interest and
ultimate principal payments due on the Certificates.
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 original collateral balance: [2%]
O/C Target based on original collateral balance: [7%]
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 [$40,000,000] 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 less than
$100,000, (ii) the date on which any Servicer default occurs, or (iii) 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 December 15, 1997 Distribution Date as a
partial prepayment of principal of such Certificates.
Servicing Fee: [50] basis points per annum.
ERISA Considerations: [It is believed that the Certificates may not be ERISA eligible during the Funding
Period. It is believed that the Certificates may be ERISA eligible after the Funding
Period. 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 Certificates.]
Taxation: REMIC.
Legal Investment: None of the Fixed Rate Certificates will be SMMEA-eligible.
Certificates Ratings: "AAA" by S&P and "Aaa" by Moody's.
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: Greg Richter or Rob Karr at (212) 778-2741,
Banking: Evan Mitnick (212) 778-7469 or Shelby Carvalho at (212) 778-4127.
FSG: Januar Laude at (212) 778-7176 or Joe Astorina at (212) 778-2667.
COPIES OF PROSPECTUS: PLEASE SEND AN E-MAIL WITH CLIENT'S NAME ADDRESS AND PHONE NUMBER TO SHELBY CARVALHO AT:
IMPACT ID: CARVALHO
CCMAIL: [email protected]
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
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.
<PAGE>
CURRENT BALANCE: $36,400,000.00 DATED DATE: 09/29/97
CURRENT COUPON: 5.756% abfs72 FIRST PAYMENT: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $36,400,000.00 YIELD TABLE DATE: 09/29/97
BOND A1 DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.6563
<TABLE>
<CAPTION>
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C>
23.0% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
99-24 36.916 33.174 34.733 37.606 38.938 40.210
99-24+ 35.231 31.723 33.185 35.878 37.127 38.319
99-25 33.546 30.273 31.637 34.150 35.316 36.429
99-25+ 31.862 28.823 30.089 32.423 33.505 34.538
99-26 30.178 27.373 28.542 30.696 31.695 32.648
99-26+ 28.495 25.923 26.995 28.969 29.885 30.759
99-27 26.812 24.474 25.448 27.243 28.075 28.870
99-27+ 25.129 23.025 23.902 25.517 26.266 26.981
99-28 23.447 21.577 22.356 23.791 24.457 25.093
99-28+ 21.765 20.129 20.810 22.066 22.649 23.205
99-29 20.083 18.681 19.265 20.341 20.841 21.317
99-29+ 18.402 17.233 17.720 18.617 19.033 19.430
99-30 16.721 15.786 16.175 16.893 17.226 17.543
99-30+ 15.040 14.339 14.631 15.169 15.419 15.657
99-31 13.360 12.892 13.087 13.446 13.612 13.771
99-31+ 11.680 11.446 11.543 11.723 11.806 11.885
100-00 10.000 10.000 10.000 10.000 10.000 10.000
100-00+ 8.321 8.554 8.457 8.278 8.195 8.115
100-01 6.642 7.109 6.914 6.556 6.389 6.231
100-01+ 4.963 5.664 5.372 4.834 4.585 4.347
100-02 3.285 4.219 3.830 3.113 2.780 2.463
100-02+ 1.607 2.774 2.288 1.392 0.977 0.580
First Payment 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 0.952 1.113 1.040 0.927 0.883 0.845
Last Payment 1.794 2.211 1.961 1.711 1.628 1.544
Mod.Dur. @ 100-00 0.896 1.041 0.975 0.874 0.834 0.798
</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 BALANCE: $10,000,000.00 DATED DATE: 09/01/97
COUPON: 6.515% abfs72 FIRST PAYMENT: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $10,000,000.00 YIELD TABLE DATE: 09/29/97
BOND A2 BE-YIELD TABLE
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C>
23.0% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
99-24 6.602 6.602 6.602 6.602 6.602 6.602
99-24+ 6.594 6.595 6.595 6.593 6.593 6.592
99-25 6.585 6.589 6.587 6.585 6.583 6.582
99-25+ 6.577 6.582 6.580 6.576 6.574 6.572
99-26 6.569 6.575 6.572 6.567 6.565 6.563
99-26+ 6.560 6.568 6.565 6.559 6.556 6.553
99-27 6.552 6.561 6.557 6.550 6.547 6.543
99-27+ 6.544 6.554 6.550 6.541 6.537 6.533
99-28 6.535 6.547 6.542 6.533 6.528 6.524
99-28+ 6.527 6.540 6.535 6.524 6.519 6.514
99-29 6.518 6.533 6.527 6.516 6.510 6.504
99-29+ 6.510 6.526 6.520 6.507 6.501 6.494
99-30 6.502 6.519 6.512 6.498 6.491 6.485
99-30+ 6.493 6.512 6.505 6.490 6.482 6.475
99-31 6.485 6.506 6.498 6.481 6.473 6.465
99-31+ 6.477 6.499 6.490 6.472 6.464 6.455
100-00 6.468 6.492 6.483 6.464 6.455 6.446
100-00+ 6.460 6.485 6.475 6.455 6.445 6.436
100-01 6.452 6.478 6.468 6.447 6.436 6.426
100-01+ 6.443 6.471 6.460 6.438 6.427 6.417
100-02 6.435 6.464 6.453 6.429 6.418 6.407
100-02+ 6.427 6.457 6.445 6.421 6.409 6.397
100-03 6.418 6.450 6.438 6.412 6.400 6.387
100-03+ 6.410 6.443 6.430 6.403 6.390 6.378
100-04 6.402 6.437 6.423 6.395 6.381 6.368
100-04+ 6.393 6.430 6.415 6.386 6.372 6.358
100-05 6.385 6.423 6.408 6.378 6.363 6.348
100-05+ 6.377 6.416 6.400 6.369 6.354 6.339
100-06 6.368 6.409 6.393 6.360 6.345 6.329
100-06+ 6.360 6.402 6.386 6.352 6.335 6.319
100-07 6.352 6.395 6.378 6.343 6.326 6.310
100-07+ 6.343 6.388 6.371 6.335 6.317 6.300
First Payment 1.794 2.211 1.961 1.711 1.628 1.544
Average Life 2.056 2.521 2.314 1.983 1.855 1.743
Last Payment 2.378 2.878 2.628 2.294 2.128 1.961
Mod.Dur. @ 100-00 1.864 2.252 2.081 1.802 1.693 1.597
</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 BALANCE: $20,200,000.00 DATED DATE: 09/01/97
COUPON: 6.610% abfs72 FIRST PAYMENT: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $20,200,000.00 YIELD TABLE DATE: 09/29/97
BOND A3 BE-YIELD TABLE
PREPAYMENT SPEED
<TABLE>
<CAPTION>
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C>
23.0% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
99-24 6.699 6.699 6.699 6.699 6.699 6.698
99-24+ 6.693 6.695 6.694 6.693 6.692 6.692
99-25 6.687 6.690 6.689 6.687 6.686 6.685
99-25+ 6.682 6.685 6.684 6.681 6.680 6.678
99-26 6.676 6.681 6.679 6.675 6.673 6.671
99-26+ 6.670 6.676 6.674 6.669 6.667 6.664
99-27 6.664 6.671 6.669 6.663 6.660 6.658
99-27+ 6.659 6.667 6.664 6.657 6.654 6.651
99-28 6.653 6.662 6.658 6.651 6.648 6.644
99-28+ 6.647 6.657 6.653 6.645 6.641 6.637
99-29 6.642 6.653 6.648 6.639 6.635 6.630
99-29+ 6.636 6.648 6.643 6.633 6.628 6.624
99-30 6.630 6.643 6.638 6.627 6.622 6.617
99-30+ 6.624 6.639 6.633 6.621 6.616 6.610
99-31 6.619 6.634 6.628 6.615 6.609 6.603
99-31+ 6.613 6.629 6.623 6.610 6.603 6.597
100-00 6.607 6.625 6.618 6.604 6.597 6.590
100-00+ 6.601 6.620 6.613 6.598 6.590 6.583
100-01 6.596 6.615 6.607 6.592 6.584 6.576
100-01+ 6.590 6.611 6.602 6.586 6.578 6.569
100-02 6.584 6.606 6.597 6.580 6.571 6.563
100-02+ 6.578 6.601 6.592 6.574 6.565 6.556
100-03 6.573 6.597 6.587 6.568 6.558 6.549
100-03+ 6.567 6.592 6.582 6.562 6.552 6.542
100-04 6.561 6.588 6.577 6.556 6.546 6.536
100-04+ 6.556 6.583 6.572 6.550 6.539 6.529
100-05 6.550 6.578 6.567 6.544 6.533 6.522
100-05+ 6.544 6.574 6.562 6.538 6.527 6.515
100-06 6.538 6.569 6.557 6.532 6.520 6.508
100-06+ 6.533 6.564 6.552 6.526 6.514 6.502
100-07 6.527 6.560 6.546 6.521 6.508 6.495
100-07+ 6.521 6.555 6.541 6.515 6.501 6.488
First Payment 2.378 2.878 2.628 2.294 2.128 1.961
Average Life 3.104 3.924 3.546 2.981 2.764 2.577
Last Payment 4.128 5.378 4.794 3.961 3.628 3.378
Mod.Dur. @ 100-00 2.712 3.335 3.052 2.615 2.442 2.291
</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 BALANCE: $10,400,000.00 DATED DATE: 09/01/97
COUPON: 6.900% abfs72 FIRST PAYMENT: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $10,400,000.00 YIELD TABLE DATE: 09/29/97
BOND A4 BE-YIELD TABLE
PREPAYMENT SPEED
***** TO MATURITY *****
<TABLE>
<CAPTION>
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C>
23.0% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
99-24 6.995 6.996 6.996 6.995 6.995 6.994
99-24+ 6.992 6.993 6.993 6.991 6.991 6.990
99-25 6.988 6.990 6.989 6.987 6.986 6.985
99-25+ 6.984 6.987 6.986 6.983 6.982 6.981
99-26 6.980 6.984 6.983 6.979 6.978 6.976
99-26+ 6.976 6.982 6.979 6.975 6.973 6.971
99-27 6.973 6.979 6.976 6.971 6.969 6.967
99-27+ 6.969 6.976 6.973 6.967 6.965 6.962
99-28 6.965 6.973 6.969 6.964 6.961 6.958
99-28+ 6.961 6.970 6.966 6.960 6.956 6.953
99-29 6.957 6.967 6.963 6.956 6.952 6.949
99-29+ 6.954 6.964 6.959 6.952 6.948 6.944
99-30 6.950 6.961 6.956 6.948 6.944 6.939
99-30+ 6.946 6.958 6.953 6.944 6.939 6.935
99-31 6.942 6.955 6.949 6.940 6.935 6.930
99-31+ 6.938 6.952 6.946 6.936 6.931 6.926
100-00 6.935 6.949 6.943 6.932 6.926 6.921
100-00+ 6.931 6.946 6.940 6.928 6.922 6.917
100-01 6.927 6.943 6.936 6.924 6.918 6.912
100-01+ 6.923 6.940 6.933 6.920 6.914 6.907
100-02 6.919 6.937 6.930 6.916 6.909 6.903
100-02+ 6.916 6.934 6.926 6.912 6.905 6.898
100-03 6.912 6.931 6.923 6.908 6.901 6.894
100-03+ 6.908 6.928 6.920 6.904 6.897 6.889
100-04 6.904 6.925 6.916 6.900 6.892 6.885
100-04+ 6.900 6.922 6.913 6.896 6.888 6.880
100-05 6.897 6.919 6.910 6.892 6.884 6.875
100-05+ 6.893 6.916 6.906 6.888 6.880 6.871
100-06 6.889 6.913 6.903 6.884 6.875 6.866
100-06+ 6.885 6.910 6.900 6.881 6.871 6.862
100-07 6.881 6.907 6.896 6.877 6.867 6.857
100-07+ 6.878 6.905 6.893 6.873 6.863 6.853
First Payment 4.128 5.378 4.794 3.961 3.628 3.378
Average Life 5.014 6.829 5.917 4.780 4.370 4.025
Last Payment 6.128 9.128 7.878 5.878 5.294 4.794
Mod.Dur. @ 100-00 4.093 5.245 4.687 3.932 3.644 3.395
</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 BALANCE: $11,000,000.00 DATED DATE: 09/01/97
COUPON: 7.255% abfs72 FIRST PAYMENT: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $11,000,000.00 YIELD TABLE DATE: 09/29/97
BOND A5 BE-YIELD TABLE
PREPAYMENT SPEED
***** TO MATURITY *****
<TABLE>
<CAPTION>
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C>
23.0% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
99-24 7.361 7.361 7.361 7.360 7.360 7.360
99-24+ 7.358 7.359 7.359 7.358 7.357 7.357
99-25 7.356 7.357 7.357 7.356 7.355 7.354
99-25+ 7.354 7.355 7.355 7.353 7.352 7.351
99-26 7.351 7.353 7.353 7.351 7.350 7.348
99-26+ 7.349 7.351 7.351 7.348 7.347 7.346
99-27 7.347 7.349 7.349 7.346 7.344 7.343
99-27+ 7.344 7.347 7.346 7.344 7.342 7.340
99-28 7.342 7.345 7.344 7.341 7.339 7.337
99-28+ 7.340 7.343 7.342 7.339 7.337 7.334
99-29 7.337 7.341 7.340 7.336 7.334 7.331
99-29+ 7.335 7.339 7.338 7.334 7.331 7.329
99-30 7.333 7.337 7.336 7.331 7.329 7.326
99-30+ 7.330 7.335 7.334 7.329 7.326 7.323
99-31 7.328 7.333 7.332 7.327 7.324 7.320
99-31+ 7.326 7.332 7.330 7.324 7.321 7.317
100-00 7.323 7.330 7.328 7.322 7.318 7.314
100-00+ 7.321 7.328 7.325 7.319 7.316 7.312
100-01 7.319 7.326 7.323 7.317 7.313 7.309
100-01+ 7.316 7.324 7.321 7.315 7.311 7.306
100-02 7.314 7.322 7.319 7.312 7.308 7.303
100-02+ 7.312 7.320 7.317 7.310 7.305 7.300
100-03 7.309 7.318 7.315 7.307 7.303 7.298
100-03+ 7.307 7.316 7.313 7.305 7.300 7.295
100-04 7.305 7.314 7.311 7.302 7.297 7.292
100-04+ 7.302 7.312 7.309 7.300 7.295 7.289
100-05 7.300 7.310 7.307 7.298 7.292 7.286
100-05+ 7.298 7.308 7.304 7.295 7.290 7.284
100-06 7.296 7.306 7.302 7.293 7.287 7.281
100-06+ 7.293 7.304 7.300 7.290 7.284 7.278
100-07 7.291 7.302 7.298 7.288 7.282 7.275
100-07+ 7.289 7.300 7.296 7.286 7.279 7.272
First Payment 6.128 9.128 7.878 5.878 5.294 4.794
Average Life 9.806 12.321 11.344 9.315 8.394 7.562
Last Payment 14.878 16.628 15.544 14.794 13.961 13.044
Mod.Dur. @ 100-00 6.679 7.816 7.401 6.436 5.962 5.513
</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 BALANCE: $10,000,000.00 DATED DATE: 09/01/97
COUPON: 6.830% abfs72 FIRST PAYMENT: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $10,000,000.00 YIELD TABLE DATE: 09/29/97
BOND A6 BE-YIELD TABLE
PREPAYMENT SPEED
***** TO MATURITY *****
<TABLE>
<CAPTION>
PRICING SPEED
<S> <C> <C> <C> <C> <C> <C>
23.0% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
99-24 6.925 6.925 6.925 6.925 6.925 6.925
99-24+ 6.922 6.922 6.922 6.922 6.921 6.921
99-25 6.919 6.919 6.919 6.918 6.918 6.918
99-25+ 6.915 6.916 6.916 6.915 6.915 6.915
99-26 6.912 6.913 6.913 6.912 6.912 6.912
99-26+ 6.909 6.910 6.910 6.909 6.909 6.908
99-27 6.906 6.907 6.907 6.906 6.906 6.905
99-27+ 6.903 6.904 6.904 6.903 6.902 6.902
99-28 6.900 6.901 6.901 6.900 6.899 6.899
99-28+ 6.897 6.898 6.898 6.896 6.896 6.895
99-29 6.894 6.895 6.895 6.893 6.893 6.892
99-29+ 6.891 6.892 6.892 6.890 6.890 6.889
99-30 6.887 6.889 6.889 6.887 6.886 6.886
99-30+ 6.884 6.886 6.885 6.884 6.883 6.883
99-31 6.881 6.883 6.882 6.881 6.880 6.879
99-31+ 6.878 6.880 6.879 6.878 6.877 6.876
100-00 6.875 6.877 6.876 6.875 6.874 6.873
100-00+ 6.872 6.874 6.873 6.871 6.871 6.870
100-01 6.869 6.871 6.870 6.868 6.867 6.866
100-01+ 6.866 6.869 6.867 6.865 6.864 6.863
100-02 6.863 6.866 6.864 6.862 6.861 6.860
100-02+ 6.860 6.863 6.861 6.859 6.858 6.857
100-03 6.856 6.860 6.858 6.856 6.855 6.853
100-03+ 6.853 6.857 6.855 6.853 6.851 6.850
100-04 6.850 6.854 6.852 6.850 6.848 6.847
100-04+ 6.847 6.851 6.849 6.846 6.845 6.844
100-05 6.844 6.848 6.846 6.843 6.842 6.841
100-05+ 6.841 6.845 6.843 6.840 6.839 6.837
100-06 6.838 6.842 6.840 6.837 6.836 6.834
100-06+ 6.835 6.839 6.837 6.834 6.832 6.831
100-07 6.832 6.836 6.834 6.831 6.829 6.828
100-07+ 6.829 6.833 6.831 6.828 6.826 6.824
First Payment 3.044 3.044 3.044 3.044 3.044 3.044
Average Life 6.500 6.908 6.732 6.427 6.294 6.172
Last Payment 14.794 15.128 14.794 14.711 13.794 12.878
Mod.Dur. @ 100-00 5.011 5.248 5.147 4.967 4.887 4.812
</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>
________________________________________________________________________________
- ABFS 1997-2
- Cut Off Date of Tape is 8/29/97
- Fixed
- $50,108,491.13
- Mortgage Summary Report
________________________________________________________________________________
Number of Mortgage Loans: 824
Aggregate Unpaid Principal Balance: $50,108,491.13
Aggregate Original Principal Balance: $50,201,979.00
Weighted Average Net Coupon: 12.181%
Net Coupon Range: 8.490% - 17.490%
Weighted Average Gross Coupon: 12.681%
Gross Coupon Range: 8.990% - 17.990%
________________________________________________________________________________
Average Unpaid Principal Balance: $60,811.28
Average Original Principal Balance: $60,924.73
Maximum Unpaid Principal Balance: $360,000.00
Minimum Unpaid Principal Balance: $9,650.59
Maximum Original Principal Balance: $360,000.00
Minimum Original Principal Balance: $10,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat/Bln Date): 219.491
Stated Rem Term Range: 22.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 1.067
Age Range: 0.000 - 10.000
Weighted Average Original Term (to Mat/Bln Date): 220.558
Original Term Range: 24.000 - 360.000
Weighted Average Combined LTV: 73.012
Combined LTV Range: 8.000% - 100.000%
________________________________________________________________________________
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
<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>
8.75% (less than) Gross Coupon (less than) = 9.00% 2 117,204.88 0.23
9.00% (less than) Gross Coupon (less than) = 9.25% 3 324,023.01 0.65
9.25% (less than) Gross Coupon (less than) = 9.50% 8 718,935.59 1.43
9.50% (less than) Gross Coupon (less than) = 9.75% 8 539,068.10 1.08
9.75% (less than) Gross Coupon (less than) = 10.00% 18 1,780,344.59 3.55
10.00% (less than) Gross Coupon (less than) = 10.25% 26 1,882,639.72 3.76
10.25% (less than) Gross Coupon (less than) = 10.50% 21 1,775,592.91 3.54
10.50% (less than) Gross Coupon (less than) = 10.75% 25 1,418,503.19 2.83
10.75% (less than) Gross Coupon (less than) = 11.00% 96 5,349,778.35 10.68
11.00% (less than) Gross Coupon (less than) = 11.25% 25 1,650,596.46 3.29
11.25% (less than) Gross Coupon (less than) = 11.50% 38 1,749,308.56 3.49
11.50% (less than) Gross Coupon (less than) = 11.75% 66 3,748,160.68 7.48
11.75% (less than) Gross Coupon (less than) = 12.00% 58 3,799,498.49 7.58
12.00% (less than) Gross Coupon (less than) = 12.25% 28 1,361,993.72 2.72
12.25% (less than) Gross Coupon (less than) = 12.50% 44 2,539,155.74 5.07
12.50% (less than) Gross Coupon (less than) = 12.75% 43 1,753,436.10 3.50
12.75% (less than) Gross Coupon (less than) = 13.00% 45 2,627,990.08 5.24
13.00% (less than) Gross Coupon (less than) = 13.25% 19 1,378,738.25 2.75
13.25% (less than) Gross Coupon (less than) = 13.50% 16 787,486.11 1.57
13.50% (less than) Gross Coupon (less than) = 13.75% 6 185,505.51 0.37
13.75% (less than) Gross Coupon (less than) = 14.00% 43 1,953,470.58 3.90
14.00% (less than) Gross Coupon (less than) = 14.25% 1 17,519.62 0.03
14.25% (less than) Gross Coupon (less than) = 14.50% 13 418,724.72 0.84
14.50% (less than) Gross Coupon (less than) = 14.75% 17 345,209.93 0.69
14.75% (less than) Gross Coupon (less than) = 15.00% 10 878,677.28 1.75
15.00% (less than) Gross Coupon (less than) = 15.25% 1 29,965.78 0.06
15.25% (less than) Gross Coupon (less than) = 15.50% 9 432,924.85 0.86
15.50% (less than) Gross Coupon (less than) = 15.75% 13 1,525,494.79 3.04
15.75% (less than) Gross Coupon (less than) = 16.00% 102 7,614,685.36 15.20
16.00% (less than) Gross Coupon (less than) = 16.25% 12 893,921.26 1.78
16.25% (less than) Gross Coupon (less than) = 16.50% 5 299,470.09 0.60
16.75% (less than) Gross Coupon (less than) = 17.00% 1 48,482.65 0.10
17.50% (less than) Gross Coupon (less than) = 18.00% 2 161,984.18 0.32
- ---------------------------------------------------------------------------------------------------
Total.......... 824 $ 50,108,491.13 100.00%
===================================================================================================
</TABLE>
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>
12 (less than) Orig. Term (less than) = 24 2 366,909.43 0.73%
24 (less than) Orig. Term (less than) = 36 1 165,000.00 0.33%
36 (less than) Orig. Term (less than) = 48 1 24,068.31 0.05%
48 (less than) Orig. Term (less than) = 60 23 532,435.19 1.06%
60 (less than) Orig. Term (less than) = 72 2 30,940.84 0.06%
72 (less than) Orig. Term (less than) = 84 12 278,847.91 0.56%
84 (less than) Orig. Term (less than) = 96 3 52,765.39 0.11%
96 (less than) Orig. Term (less than) = 108 1 15,170.72 0.03%
108 (less than) Orig. Term (less than) = 120 90 2,797,017.36 5.58%
132 (less than) Orig. Term (less than) = 144 1 32,787.92 0.07%
144 (less than) Orig. Term (less than) = 156 1 49,926.42 0.10%
168 (less than) Orig. Term (less than) = 180 433 27,898,520.80 55.68%
228 (less than) Orig. Term (less than) = 240 129 6,748,023.58 13.47%
288 (less than) Orig. Term (less than) = 300 5 326,328.99 0.65%
348 (less than) Orig. Term (less than) = 360 120 10,789,748.27 21.53%
- --------------------------------------------------------------------------------------------
Total............ 824 50,108,491.13 100.00%
============================================================================================
</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>
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>
12 (less than) Rem Term (less than) = 24 2 366,909.43 0.73%
24 (less than) Rem Term (less than) = 36 1 165,000.00 0.33%
36 (less than) Rem Term (less than) = 48 1 24,068.31 0.05%
48 (less than) Rem Term (less than) = 60 23 532,435.19 1.06%
60 (less than) Rem Term (less than) = 72 2 30,940.84 0.06%
72 (less than) Rem Term (less than) = 84 12 278,847.91 0.56%
84 (less than) Rem Term (less than) = 96 3 52,765.39 0.11%
96 (less than) Rem Term (less than) = 108 1 15,170.72 0.03%
108 (less than) Rem Term (less than) = 120 90 2,797,017.36 5.58%
132 (less than) Rem Term (less than) = 144 1 32,787.92 0.07%
144 (less than) Rem Term (less than) = 156 1 49,926.42 0.10%
168 (less than) Rem Term (less than) = 180 433 27,898,520.80 55.68%
228 (less than) Rem Term (less than) = 240 129 6,748,023.58 13.47%
288 (less than) Rem Term (less than) = 300 5 326,328.99 0.65%
348 (less than) Rem Term (less than) = 360 120 10,789,748.27 21.53%
- --------------------------------------------------------------------------------------------
Total............ 824 50,108,491.13 100.00%
============================================================================================
</TABLE>
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original CLTV Ratio Loans Balance Balance
<S> <C> <C> <C>
5.000 (less than) CLTV (less than) = 10.000 3 49,224.45 0.10
10.000 (less than) CLTV (less than) = 15.000 6 83,375.67 0.17
15.000 (less than) CLTV (less than) = 20.000 3 134,841.22 0.27
20.000 (less than) CLTV (less than) = 25.000 10 258,651.06 0.52
25.000 (less than) CLTV (less than) = 30.000 10 255,709.06 0.51
30.000 (less than) CLTV (less than) = 35.000 15 677,787.91 1.35
35.000 (less than) CLTV (less than) = 40.000 15 672,669.50 1.34
40.000 (less than) CLTV (less than) = 45.000 30 1,081,218.91 2.16
45.000 (less than) CLTV (less than) = 50.000 25 1,433,607.18 2.86
50.000 (less than) CLTV (less than) = 55.000 26 1,819,490.57 3.63
55.000 (less than) CLTV (less than) = 60.000 42 3,360,151.20 6.71
60.000 (less than) CLTV (less than) = 65.000 50 2,747,802.59 5.48
65.000 (less than) CLTV (less than) = 70.000 79 4,584,313.65 9.15
70.000 (less than) CLTV (less than) = 75.000 111 6,656,936.88 13.29
75.000 (less than) CLTV (less than) = 80.000 150 9,280,347.01 18.52
80.000 (less than) CLTV (less than) = 85.000 134 6,604,346.34 13.18
85.000 (less than) CLTV (less than) = 90.000 106 10,038,699.42 20.03
90.000 (less than) CLTV (less than) = 95.000 6 178,595.00 0.36
95.000 (less than) CLTV (less than) = 100.000 3 190,723.51 0.38
- ---------------------------------------------------------------------------------------------------
Total.................... 824 50,108,491.13 100.00%
===================================================================================================
</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>
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>
5,000 (less than) Balance (less than) = 10,000 8 79,275.34 0.16
10,000 (less than) Balance (less than) = 15,000 54 724,816.66 1.45
15,000 (less than) Balance (less than) = 20,000 74 1,357,897.60 2.71
20,000 (less than) Balance (less than) = 25,000 77 1,787,672.10 3.57
25,000 (less than) Balance (less than) = 30,000 48 1,368,482.32 2.73
30,000 (less than) Balance (less than) = 35,000 52 1,743,888.84 3.48
35,000 (less than) Balance (less than) = 40,000 42 1,605,314.94 3.20
40,000 (less than) Balance (less than) = 45,000 48 2,081,859.59 4.15
45,000 (less than) Balance (less than) = 50,000 47 2,284,484.72 4.56
50,000 (less than) Balance (less than) = 55,000 36 1,898,505.91 3.79
55,000 (less than) Balance (less than) = 60,000 42 2,443,431.17 4.88
60,000 (less than) Balance (less than) = 65,000 17 1,077,177.53 2.15
65,000 (less than) Balance (less than) = 70,000 29 1,971,521.08 3.93
70,000 (less than) Balance (less than) = 75,000 25 1,811,789.28 3.62
75,000 (less than) Balance (less than) = 80,000 31 2,413,018.34 4.82
80,000 (less than) Balance (less than) = 85,000 16 1,319,723.66 2.63
85,000 (less than) Balance (less than) = 90,000 27 2,377,591.87 4.74
90,000 (less than) Balance (less than) = 95,000 17 1,579,689.84 3.15
95,000 (less than) Balance (less than) = 100,000 16 1,582,397.76 3.16
100,000 (less than) Balance (less than) = 105,000 15 1,542,270.77 3.08
105,000 (less than) Balance (less than) = 110,000 6 646,501.60 1.29
110,000 (less than) Balance (less than) = 115,000 12 1,349,294.85 2.69
115,000 (less than) Balance (less than) = 120,000 3 350,684.93 0.70
120,000 (less than) Balance (less than) = 125,000 12 1,476,203.39 2.95
125,000 (less than) Balance (less than) = 130,000 4 513,535.14 1.02
130,000 (less than) Balance (less than) = 135,000 5 659,705.56 1.32
135,000 (less than) Balance (less than) = 140,000 7 974,785.58 1.95
140,000 (less than) Balance (less than) = 145,000 3 429,713.13 0.86
145,000 (less than) Balance (less than) = 150,000 11 1,627,855.70 3.25
150,000 (less than) Balance (less than) = 200,000 20 3,557,306.95 7.10
200,000 (less than) Balance (less than) = 250,000 10 2,323,961.42 4.64
250,000 (less than) Balance (less than) = 300,000 3 811,952.12 1.62
300,000 (less than) Balance (less than) = 350,000 6 1,976,181.44 3.94
350,000 (less than) Balance (less than) = 400,000 1 360,000.00 0.72
- -------------------------------------------------------------------------------------------------
Total.................... 824 $50,108,491.13 100.00%
=================================================================================================
</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>
5,000 (less than) Balance (less than) = 10,000 8 79,275.34 0.16
10,000 (less than) Balance (less than) = 15,000 54 724,816.66 1.45
15,000 (less than) Balance (less than) = 20,000 74 1,357,897.60 2.71
20,000 (less than) Balance (less than) = 25,000 77 1,787,672.10 3.57
25,000 (less than) Balance (less than) = 30,000 48 1,368,482.32 2.73
30,000 (less than) Balance (less than) = 35,000 52 1,743,888.84 3.48
35,000 (less than) Balance (less than) = 40,000 42 1,605,314.94 3.20
40,000 (less than) Balance (less than) = 45,000 48 2,081,859.59 4.15
45,000 (less than) Balance (less than) = 50,000 49 2,384,136.79 4.76
50,000 (less than) Balance (less than) = 55,000 34 1,798,853.84 3.59
55,000 (less than) Balance (less than) = 60,000 42 2,443,431.17 4.88
60,000 (less than) Balance (less than) = 65,000 17 1,077,177.53 2.15
65,000 (less than) Balance (less than) = 70,000 29 1,971,521.08 3.93
70,000 (less than) Balance (less than) = 75,000 26 1,886,552.19 3.76
75,000 (less than) Balance (less than) = 80,000 30 2,338,255.43 4.67
80,000 (less than) Balance (less than) = 85,000 16 1,319,723.66 2.63
85,000 (less than) Balance (less than) = 90,000 27 2,377,591.87 4.74
90,000 (less than) Balance (less than) = 95,000 17 1,579,689.84 3.15
95,000 (less than) Balance (less than) = 100,000 16 1,582,397.76 3.16
100,000 (less than) Balance (less than) = 105,000 15 1,542,270.77 3.08
105,000 (less than) Balance (less than) = 110,000 8 866,028.53 1.73
110,000 (less than) Balance (less than) = 115,000 10 1,129,767.92 2.25
115,000 (less than) Balance (less than) = 120,000 3 350,684.93 0.70
120,000 (less than) Balance (less than) = 125,000 12 1,476,203.39 2.95
125,000 (less than) Balance (less than) = 130,000 4 513,535.14 1.02
130,000 (less than) Balance (less than) = 135,000 5 659,705.56 1.32
135,000 (less than) Balance (less than) = 140,000 7 974,785.58 1.95
140,000 (less than) Balance (less than) = 145,000 3 429,713.13 0.86
145,000 (less than) Balance (less than) = 150,000 11 1,627,855.70 3.25
150,000 (less than) Balance (less than) = 200,000 20 3,557,306.95 7.10
200,000 (less than) Balance (less than) = 250,000 10 2,323,961.42 4.64
250,000 (less than) Balance (less than) = 300,000 3 811,952.12 1.62
300,000 (less than) Balance (less than) = 350,000 6 1,976,181.44 3.94
350,000 (less than) Balance (less than) = 400,000 1 360,000.00 0.72
- --------------------------------------------------------------------------------------------------
Total.................... 824 $ 50,108,491.13 100.00%
==================================================================================================
</TABLE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
CT 9 719,121.76 1.44
DE 18 1,049,871.37 2.10
FL 38 2,235,511.71 4.46
GA 112 8,279,692.65 16.52
MD 19 1,241,837.67 2.48
NC 35 1,655,079.98 3.30
NJ 229 14,101,180.03 28.14
NY 20 1,556,551.37 3.11
PA 316 17,305,362.48 34.54
VA 27 1,914,282.11 3.82
Missing 1 50,000.00 0.10
- ------------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==============================================================================
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 3 223,816.85 0.45
Commercial 15 1,807,298.56 3.61
1-4 Resid Leasehold 25 1,305,341.97 2.61
Townhouses 100 3,773,929.66 7.53
Condominiums 9 337,122.99 0.67
Single Family 629 37,836,369.96 75.51
5+ Family 1 190,000.00 0.38
Mercantile Building 26 1,893,387.86 3.78
Multiple Properties 16 2,741,223.28 5.47
- --------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 738 42,529,458.02 84.87
Investor 42 2,252,309.47 4.49
Vacation/Second Home 9 543,328.14 1.08
Corporate 19 2,042,172.22 4.08
Multiple Prop. / Occupancy 16 2,741,223.28 5.47
- ---------------------------------------------------------------------------
Total.................. 824 $ 50,108,491.13 100.00%
===========================================================================
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 458 35,164,789.24 70.18
2 359 13,259,630.54 26.46
Multiple 7 1,684,071.35 3.36
- --------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 674 37,025,799.81 73.89
Partially Amortizing 150 13,082,691.32 26.11
- --------------------------------------------------------------------------
Total.................. 824 $ 50,108,491.13 100.00%
==========================================================================
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>
LOAN CLASS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Class Loans Balance Balance
COMMERCIAL 14 1,939,690.42 3.87
RESID. WITH BUSINESS 39 4,011,475.20 8.01
RESIDENTIAL 771 44,157,325.51 88.12
- ---------------------------------------------------------------------------
Total.......... 824 $ 50,108,491.13 100.00%
===========================================================================
BORROWER CLASS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
NEWLY ORIGINATED 4 188,400.00 0.38
BUSINESS LOANS 127 10,478,098.24 20.91
HOME EQUITY LOANS 693 39,441,992.89 78.71
- --------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==========================================================================
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>
PRELIMINARY
BACKGROUND INFORMATION
American Business Financial Services
ABFS Mortgage Loan Trust 1997-2
APPROXIMATE CLASS SIZES
[$36,400,000] Class A-1 FLOATING RATE CERTIFICATES
[$10,000,000] Class A-2 FIXED RATE CERTIFICATES
[$20,200,000] Class A-3 FIXED RATE CERTIFICATES
[$10,400,000] Class A-4 FIXED RATE CERTIFICATES
[$11,000,000] Class A-5 FIXED RATE CERTIFICATES
[$10,000,000] Class A-6 FIXED RATE CERTIFICATES
Non-Accelerated Senior
The information provided herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the American Business Financial Services
Mortgage Loan Trust 1997-2 transaction, and not by, or as agent for American
Business Financial Services, Inc. ("ABFS" or the "Company") 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 Company. PSI makes no
representations as to the accuracy of such information provided to it by the
Company. 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 Financial Services - ABFS Mortgage Loan Trust 1997-2
<TABLE>
<CAPTION>
PRICING INFORMATION
----------------------------------
Class: A-1* A-2 A-3 A-4 A-5 A-6
NAS Bond
<S> <C> <C> <C> <C> <C> <C>
Approximate
Face Amount: [36,400,000] [10,000,000] [20,200,000] [10,400,000] [11,000,000] [10,000,000]
Coupon: [L + 10 bps] [6.375]% [6.465]% [6.730]% [7.125]% [6.700]%
Price: [100-0] [100-0] [100-0] [100-0] [100-0] [100-0]
Yield: [5.903]% [6.328]% [6.460]% [6.762]% [7.190]% [6.743]%
Spread: [ 10 ] [ 54 ] [ 60 ] [ 77 ] [ 105 ] [ 68 ]
Exp Avg Life
to Maturity: [0.960]yrs [2.056]yrs [3.104]yrs [5.014]yrs [9.806]yrs [6.500]yrs
Exp Avg Life
to Call: [0.960]yrs [2.056]yrs [3.104]yrs [5.014]yrs [7.996]yrs [6.378]yrs
Exp 1st
Prin Pmt: [10/15/97 07/15/99 02/15/00 11/15/01 11/15/03 10/15/00]
Exp Mat
to call: [07/15/99 02/15/00 11/15/01 11/15/03 03/15/06 03/15/06]
Exp Mat: [07/15/99 02/15/00 11/15/01 11/15/03 08/15/12 07/15/12]
Stated Mat: [03/15/12 07/15/12 09/15/14 10/15/16 01/15/29 01/15/29]
Exp Rating
(S&P/Moody's): AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa AAA/Aaa
Pricing Spd: 23% HEP 23% HEP 23% HEP 23% HEP 23% HEP 23% HEP
Pricing Date: [9/17/97] [9/17/97] [9/17/97] [9/17/97] [9/17/97] [9/17/97]
Investor
Settle Date: [9/29/97] [9/29/97] [9/29/97] [9/29/97] [9/29/97] [9/29/97]
Cut-off Date: 8/29/97 8/29/97 8/29/97 8/29/97 8/29/97 8/29/97
Pmt Delay: 0 days 14 days 14 days 14 days 14 days 14 days
Dated Date: [9/29/97] 9/1/97 9/1/97 9/1/97 9/1/97 9/1/97
Int Pmt: actual/360 30/360 30/360 30/360 30/360 30/360
Pmt Terms: Monthly Monthly Monthly Monthly Monthly Monthly
1st Int.
Pmt Date: 10/15/97 10/15/97 10/15/97 10/15/97 10/15/97 10/15/97
Collateral
Type: Fixed Rate Fixed Rate Fixed Rate Fixed Rate Fixed Rate Fixed Rate
SMMEA
Eligibility: non-SMMEA non-SMMEA non-SMMEA non-SMMEA non-SMMEA non-SMMEA
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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.
<PAGE>
American Business Financial Services - ABFS Mortgage Loan Trust 1997-2
<TABLE>
<S> <C>
*Class A-1 Net Funds Cap: The Pass-Through Rate on the Class A-1 Certificates will equal the lesser of:
1) Class A-1 Pass-Through Rate (One Month LIBOR + [ 10 ]bps)
2) Available Funds Cap
Available Funds Cap: A rate equal to the weighted average net coupon rate (i.e., the weighted average
coupon less [0.xx]% for servicing fee, trustee fee and certificate insurer premium)
for the Mortgage Loans for such Distribution Date.
Cashflow Priority: 1) Repayment of unreimbursed Servicer advances;
2) Servicing fee;
3) Trustee fee; 4) Surety fee;
5) Repayment of unreimbursed Surety payments;
6) Accrued monthly interest for Class A Certificateholders (pro-rata);
7) Monthly principal to the Class A Certificateholders (as described below);
8) Excess cashflow to build over-collateralization ("O/C"); and
9) Any remaining excess cashflow to the holders of the Class R Certificates.
Class A Certificate
Principal Paydown: 1) To the Class A-6 Certificateholders -- the Class A-6 Lockout Remittance Amount
2) To the Class A-1 through A-5 Certificates, in sequential order
Class A-6 Lockout
Remittance Amount: The applicable Class A-6 Lockout Percentage multiplied by the Class A-6 Lockout
Pro Rata Remittance Amount for such Payment Date.
THE CLASS A-6 Lockout Pertcentage
----------------------------------
October 1997 to September 2000 more than 0%
October 2000 to September 2002 more than 45%
October 2002 to September 2003 more than 80%
October 2003 to September 2004 more than 100%
October 2004 and thereafter more than 300%
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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.
<PAGE>
American Business Financial Services - ABFS Mortgage Loan Trust 1997-2
SUMMARY OF TERMS
--------------------------
Title of Securities: ABFS Mortgage Loan Trust 1997-2
Mortgage Pass-Through Certificates, Series 1997-2
Class A-1 ("Floating Rate Certificates")
Class A-2, A-3, A-4, A-5, A-6 ("Fixed-Rate
Certificates", together with the Floating Rate
Certificates, the "Class A Certificates").
Depositor: Prudential Securities Secured Financing Corporation
Servicer: American Business Credit, Inc.
Upland Mortgage will act as subservicer.
Originators: American Business Credit, Inc. and Home American Credit,
Inc., d/b/a Upland Mortgage originated or purchased the
Mortgage Loans.
Trustee: The Chase Manhattan Bank, a New York banking
corporation.
Aggregate
Certificate Balance: [$ 98,000,000]
Securities Offered: 100% FSA-guaranteed, pass-through certificates.
Offering: Public shelf offering -- a prospectus and prospectus
supplement will be distributed after pricing.
Pricing Date: [9/17/97]
Investor
Settlement Date: [9/29/97]
Form of Certificates: Book-Entry form, same-day funds through DTC, Euroclear
and CEDEL
Pass-Through Rate: [ L + 10 ]% on Class A-1 Certificates*
[ 6.375 ]% on Class A-2 Certificates
[ 6.465 ]% on Class A-3 Certificates
[ 6.730 ]% on Class A-4 Certificates
[ 7.125 ]% on Class A-5 Certificates
[ 6.700 ]% on Class A-6 Certificates
*Subject to the Class A-1 Net Funds Cap
Prepayment
Assumption: 23% HEP (2.3% CPR in month 1 with monthly incremental
increases of 2.3% CPR until the speed reaches 23% CPR in
month 10 based on loan seasoning). This means that
seasoned loans will start further up on the prepayment
curve.
<PAGE>
Payment Date: The 15th day of each month (or, if any such date is not
a business day, the first business day thereafter)
commencing in October 1997. The payment delay will be
zero days for the Floating Rate Certificates and [14]
days for the Fixed Rate Certificates.
Interest Accrual
Period: With respect to any Distribution Date, interest on the
Floating Rate Certificates will accrue during the period
from the Distribution Date in the immediately preceding
month (or, in the case of the first Distribution Date,
from the Closing Date) to the day immediately preceding
the related Distribution Date. Interest on the Floating
Rate Certificates will be calculated on the basis of a
360-day year for the actual number of days elapsed in
each Accrual Period.
With respect to any Distribution Date, interest on the
Fixed Rate Certificates will accrue during the prior
calendar month and will be calculated based on a 360-day
year consisting of twelve 30-day months.
Optional
Cleanup Call: The Servicer may call the Class A Certificates on any
Remittance Date when the then-outstanding collateral
balance is less than or equal to 10% of the original
collateral balance.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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.
<PAGE>
American Business Financial Services - ABFS Mortgage Loan Trust 1997-2
<TABLE>
<S> <C>
Credit Enhancement: 1) 100% wrap from FSA.
2) Overcollateralization.
3) Excess monthly cashflow.
Certificate Insurer: Financial Security Assurance Inc. ("FSA").
FSA's claims-paying ability is rated "AAA" by Standard &
Poor's and "Aaa" by Moody's Investors Service.
Certificate Insurance
Policy: The Certificate Insurance Policy will provide 100% coverage of timely interest and
ultimate principal payments due on the Certificates.
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 original collateral balance: [2%]
O/C Target based on original collateral balance: [7%]
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 [$40,000,000] 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 less than
$100,000, (ii) the date on which any Servicer default occurs, or (iii) 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 December 15, 1997 Distribution Date as a
partial prepayment of principal of such Certificates.
Servicing Fee: [50] basis points per annum.
ERISA Considerations: [It is believed that the Class A Certificates may not be ERISA eligible during the
Funding Period. It is believed that the Class A Certificates may be ERISA eligible after
the Funding Period. 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 Certificates.]
Taxation: REMIC.
Legal Investment: None of the Class A Certificates will be SMMEA-eligible.
Certificates Ratings: "AAA" by S&P and "Aaa" by Moody's.
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: Greg Richter or Rob Karr at (212) 778-2741,
Banking: Evan Mitnick (212) 778-7469 or Shelby Carvalho at (212) 778-4127.
FSG: Januar Laude at (212) 778-7176 or Joe Astorina at (212) 778-2667.
COPIES OF PROSPECTUS: PLEASE SEND AN E-MAIL WITH CLIENT'S NAME ADDRESS AND PHONE NUMBER TO SHELBY CARVALHO AT:
IMPACT ID: CARVALHO
CCMAIL: [email protected]
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
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.
<PAGE>
<TABLE>
<CAPTION>
CURRENT BALANCE: $36,400,000.00 DATED DATE: 9/29/97
CURRENT COUPON: 5.756% abfs72 FIRST PAYMENT DATE: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE $36,400,000.00 BOND A1 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 9/29/97
ASSUMED CONSTANT LIBOR-1M: 5.6563
PRICING SPEED
23.00% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 36.692 33.010 34.545 37.369 38.677 39.924
99-24+ 35.021 31.569 33.009 35.656 36.882 38.051
99-25 33.350 30.129 31.473 33.943 35.087 36.178
99-25+ 31.680 28.690 29.937 32.231 33.293 34.305
99-26 30.010 27.250 28.401 30.518 31.499 32.434
99-26+ 28.341 25.811 26.866 28.807 29.705 30.562
99-27 26.672 24.372 25.331 27.095 27.912 28.691
99-27+ 25.003 22.933 23.797 25.384 26.119 26.820
99-28 23.335 21.495 22.262 23.673 24.326 24.950
99-28+ 21.667 20.057 20.728 21.963 22.534 23.080
99-29 19.999 18.620 19.195 20.253 20.743 21.210
99-29+ 18.332 17.182 17.662 18.543 18.951 19.341
99-30 16.665 15.745 16.129 16.834 17.160 17.472
99-30+ 14.998 14.308 14.596 15.125 15.370 15.603
99-31 13.332 12.872 13.064 13.416 13.579 13.735
99-31+ 11.666 11.436 11.532 11.708 11.790 11.867
100-00 10.000 10.000 10.000 10.000 10.000 10.000
100-00+ 8.335 8.564 8.469 8.292 8.211 8.133
100-01 6.670 7.129 6.938 6.585 6.422 6.266
100-01+ 5.005 5.694 5.407 4.878 4.634 4.400
100-02 3.341 4.260 3.876 3.172 2.846 2.534
100-02+ 1.677 2.825 2.346 1.466 1.058 0.669
100-03 0.013 1.391 0.817 -0.240 -0.729 -1.196
First Payment 0.044 0.044 0.044 0.044 0.044 0.044
Average Life 0.960 1.121 1.048 0.935 0.891 0.853
Last Payment 1.794 2.211 1.961 1.711 1.628 1.544
Mod. Dur. @ 100-0 0.904 1.048 0.983 0.881 0.841 0.806
</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>
<TABLE>
<CAPTION>
CURRENT BALANCE: $10,000,000.00 DATED DATE: 9/01/97
CURRENT COUPON: 6.375% abfs72 FIRST PAYMENT DATE: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE $10,000,000.00 BOND A2 BE-YIELD TABLE YIELD TABLE DATE: 9/29/97
PREPAYMENT SPEED
PRICING SPEED
23.00% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 6.461 6.461 6.461 6.461 6.461 6.461
99-24+ 6.453 6.454 6.454 6.453 6.452 6.452
99-25 6.444 6.447 6.446 6.444 6.443 6.442
99-25+ 6.436 6.440 6.439 6.435 6.434 6.432
99-26 6.428 6.433 6.431 6.427 6.425 6.422
99-26+ 6.419 6.427 6.424 6.418 6.415 6.413
99-27 6.411 6.420 6.416 6.409 6.406 6.403
99-27+ 6.403 6.413 6.409 6.401 6.397 6.393
99-28 6.394 6.406 6.401 6.392 6.388 6.383
99-28+ 6.386 6.399 6.394 6.384 6.379 6.374
99-29 6.378 6.392 6.386 6.375 6.369 6.364
99-29+ 6.369 6.385 6.379 6.366 6.360 6.354
99-30 6.361 6.378 6.371 6.358 6.351 6.344
99-30+ 6.353 6.371 6.364 6.349 6.342 6.335
99-31 6.344 6.364 6.357 6.340 6.333 6.325
99-31+ 6.336 6.358 6.349 6.332 6.324 6.315
100-00 6.328 6.351 6.342 6.323 6.314 6.306
100-00+ 6.319 6.344 6.334 6.315 6.305 6.296
100-01 6.311 6.337 6.327 6.306 6.296 6.286
100-01+ 6.303 6.330 6.319 6.297 6.287 6.276
100-02 6.295 6.323 6.312 6.289 6.278 6.267
100-02+ 6.286 6.316 6.304 6.280 6.269 6.257
100-03 6.278 6.309 6.297 6.272 6.259 6.247
100-03+ 6.270 6.302 6.289 6.263 6.250 6.238
100-04 6.261 6.296 6.282 6.254 6.241 6.228
100-04+ 6.253 6.289 6.275 6.246 6.232 6.218
100-05 6.245 6.282 6.267 6.237 6.223 6.209
100-05+ 6.236 6.275 6.260 6.229 6.214 6.199
100-06 6.228 6.268 6.252 6.220 6.204 6.189
100-06+ 6.220 6.261 6.245 6.211 6.195 6.179
100-07 6.211 6.254 6.237 6.203 6.186 6.170
100-07+ 6.203 6.247 6.230 6.194 6.177 6.160
First Payment 1.794 2.211 1.961 1.711 1.628 1.544
Average Life 2.056 2.521 2.314 1.983 1.855 1.743
Last Payment 2.378 2.878 2.628 2.294 2.128 1.961
Mod. Dur. @ 100-0 1.868 2.257 2.086 1.806 1.696 1.600
</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>
<TABLE>
<CAPTION>
CURRENT BALANCE: $20,200,000.00 DATED DATE: 9/01/97
CURRENT COUPON: 6.465% abfs72 FIRST PAYMENT DATE: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE $20,200,000.00 BOND A3 BE-YIELD TABLE YIELD TABLE DATE: 9/29/97
PREPAYMENT SPEED
PRICING SPEED
23.00% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 6.552 6.552 6.552 6.552 6.552 6.552
99-24+ 6.546 6.548 6.547 6.546 6.546 6.545
99-25 6.541 6.543 6.542 6.540 6.539 6.538
99-25+ 6.535 6.538 6.537 6.534 6.533 6.532
99-26 6.529 6.534 6.532 6.528 6.527 6.525
99-26+ 6.523 6.529 6.527 6.522 6.520 6.518
99-27 6.518 6.524 6.522 6.516 6.514 6.511
99-27+ 6.512 6.520 6.516 6.510 6.507 6.504
99-28 6.506 6.515 6.511 6.504 6.501 6.498
99-28+ 6.500 6.510 6.506 6.499 6.495 6.491
99-29 6.495 6.506 6.501 6.493 6.488 6.484
99-29+ 6.489 6.501 6.496 6.487 6.482 6.477
99-30 6.483 6.496 6.491 6.481 6.476 6.471
99-30+ 6.478 6.492 6.486 6.475 6.469 6.464
99-31 6.472 6.487 6.481 6.469 6.463 6.457
99-31+ 6.466 6.482 6.476 6.463 6.457 6.450
100-00 6.460 6.478 6.471 6.457 6.450 6.443
100-00+ 6.455 6.473 6.466 6.451 6.444 6.437
100-01 6.449 6.468 6.461 6.445 6.438 6.430
100-01+ 6.443 6.464 6.456 6.439 6.431 6.423
100-02 6.438 6.459 6.450 6.433 6.425 6.416
100-02+ 6.432 6.455 6.445 6.427 6.418 6.410
100-03 6.426 6.450 6.440 6.421 6.412 6.403
100-03+ 6.420 6.445 6.435 6.416 6.406 6.396
100-04 6.415 6.441 6.430 6.410 6.399 6.389
100-04+ 6.409 6.436 6.425 6.404 6.393 6.383
100-05 6.403 6.431 6.420 6.398 6.387 6.376
100-05+ 6.398 6.427 6.415 6.392 6.380 6.369
100-06 6.392 6.422 6.410 6.386 6.374 6.362
100-06+ 6.386 6.417 6.405 6.380 6.368 6.356
100-07 6.381 6.413 6.400 6.374 6.361 6.349
100-07+ 6.375 6.408 6.395 6.368 6.355 6.342
First Payment 2.378 2.878 2.628 2.294 2.128 1.961
Average Life 3.104 3.924 3.546 2.981 2.764 2.577
Last Payment 4.128 5.378 4.794 3.961 3.628 3.378
Mod. Dur. @ 100-0 2.719 3.347 3.062 2.623 2.448 2.297
</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>
<TABLE>
<CAPTION>
CURRENT BALANCE: $10,400,000.00 DATED DATE: 9/01/97
CURRENT COUPON: 6.730% abfs72 FIRST PAYMENT DATE: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE $10,400,000.00 BOND A4 BE-YIELD TABLE YIELD TABLE DATE: 9/29/97
PREPAYMENT SPEED
***** TO MATURITY *****
PRICING SPEED
23.00% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 6.822 6.823 6.823 6.822 6.822 6.822
99-24+ 6.818 6.820 6.819 6.818 6.818 6.817
99-25 6.815 6.817 6.816 6.814 6.813 6.812
99-25+ 6.811 6.814 6.813 6.810 6.809 6.808
99-26 6.807 6.811 6.809 6.806 6.805 6.803
99-26+ 6.803 6.808 6.806 6.802 6.800 6.799
99-27 6.799 6.805 6.803 6.798 6.796 6.794
99-27+ 6.796 6.802 6.799 6.794 6.792 6.790
99-28 6.792 6.799 6.796 6.790 6.788 6.785
99-28+ 6.788 6.796 6.793 6.787 6.783 6.780
99-29 6.784 6.793 6.789 6.783 6.779 6.776
99-29+ 6.780 6.790 6.786 6.779 6.775 6.771
99-30 6.777 6.787 6.783 6.775 6.771 6.767
99-30+ 6.773 6.784 6.780 6.771 6.766 6.762
99-31 6.769 6.781 6.776 6.767 6.762 6.758
99-31+ 6.765 6.779 6.773 6.763 6.758 6.753
100-00 6.762 6.776 6.770 6.759 6.754 6.748
100-00+ 6.758 6.773 6.766 6.755 6.749 6.744
100-01 6.754 6.770 6.763 6.751 6.745 6.739
100-01+ 6.750 6.767 6.760 6.747 6.741 6.735
100-02 6.746 6.764 6.756 6.743 6.737 6.730
100-02+ 6.743 6.761 6.753 6.739 6.732 6.726
100-03 6.739 6.758 6.750 6.735 6.728 6.721
100-03+ 6.735 6.755 6.747 6.731 6.724 6.717
100-04 6.731 6.752 6.743 6.728 6.720 6.712
100-04+ 6.728 6.749 6.740 6.724 6.716 6.707
100-05 6.724 6.746 6.737 6.720 6.711 6.703
100-05+ 6.720 6.743 6.733 6.716 6.707 6.698
100-06 6.716 6.740 6.730 6.712 6.703 6.694
100-06+ 6.713 6.737 6.727 6.708 6.699 6.689
100-07 6.709 6.734 6.724 6.704 6.694 6.685
100-07+ 6.705 6.731 6.720 6.700 6.690 6.680
First Payment 4.128 5.378 4.794 3.961 3.628 3.378
Average Life 5.014 6.829 5.917 4.780 4.370 4.025
Last Payment 6.128 9.128 7.878 5.878 5.294 4.794
Mod. Dur. @ 100-0 4.113 5.277 4.713 3.951 3.660 3.409
</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>
<TABLE>
<CAPTION>
CURRENT BALANCE: $11,000,000.00 DATED DATE: 9/01/97
CURRENT COUPON: 7.125% abfs72 FIRST PAYMENT DATE: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE $11,000,000.00 BOND A5 BE-YIELD TABLE YIELD TABLE DATE: 9/29/97
PREPAYMENT SPEED
***** TO MATURITY *****
PRICING SPEED
23.00% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 7.228 7.228 7.228 7.227 7.227 7.227
99-24+ 7.225 7.226 7.226 7.225 7.224 7.224
99-25 7.223 7.224 7.224 7.223 7.222 7.221
99-25+ 7.221 7.222 7.222 7.220 7.219 7.218
99-26 7.218 7.220 7.220 7.218 7.217 7.215
99-26+ 7.216 7.218 7.217 7.215 7.214 7.213
99-27 7.214 7.216 7.215 7.213 7.211 7.210
99-27+ 7.211 7.214 7.213 7.211 7.209 7.207
99-28 7.209 7.212 7.211 7.208 7.206 7.204
99-28+ 7.207 7.210 7.209 7.206 7.204 7.201
99-29 7.204 7.208 7.207 7.203 7.201 7.199
99-29+ 7.202 7.206 7.205 7.201 7.198 7.196
99-30 7.200 7.204 7.203 7.199 7.196 7.193
99-30+ 7.197 7.202 7.201 7.196 7.193 7.190
99-31 7.195 7.200 7.199 7.194 7.191 7.187
99-31+ 7.193 7.198 7.197 7.191 7.188 7.185
100-00 7.190 7.196 7.195 7.189 7.185 7.182
100-00+ 7.188 7.195 7.192 7.187 7.183 7.179
100-01 7.186 7.193 7.190 7.184 7.180 7.176
100-01+ 7.184 7.191 7.188 7.182 7.178 7.173
100-02 7.181 7.189 7.186 7.179 7.175 7.171
100-02+ 7.179 7.187 7.184 7.177 7.173 7.168
100-03 7.177 7.185 7.182 7.175 7.170 7.165
100-03+ 7.174 7.183 7.180 7.172 7.167 7.162
100-04 7.172 7.181 7.178 7.170 7.165 7.159
100-04+ 7.170 7.179 7.176 7.167 7.162 7.157
100-05 7.167 7.177 7.174 7.165 7.160 7.154
100-05+ 7.165 7.175 7.172 7.163 7.157 7.151
100-06 7.163 7.173 7.170 7.160 7.154 7.148
100-06+ 7.160 7.171 7.167 7.158 7.152 7.145
100-07 7.158 7.169 7.165 7.155 7.149 7.143
100-07+ 7.156 7.167 7.163 7.153 7.147 7.140
First Payment 6.128 9.128 7.878 5.878 5.294 4.794
Average Life 9.806 12.321 11.344 9.315 8.394 7.562
Last Payment 14.878 16.628 15.544 14.794 13.961 13.044
Mod. Dur. @ 100-0 6.722 7.875 7.454 6.475 5.996 5.543
</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>
<TABLE>
<CAPTION>
CURRENT BALANCE: $10,000,000.00 DATED DATE: 9/01/97
CURRENT COUPON: 6.700% abfs72 FIRST PAYMENT DATE: 10/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE $10,000,000.00 BOND A6 BE-YIELD TABLE YIELD TABLE DATE: 9/29/97
PREPAYMENT SPEED
***** TO MATURITY *****
PRICING SPEED
23.00% 18.00% 20.00% 24.00% 26.00% 28.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 6.792 6.792 6.792 6.792 6.792 6.792
99-24+ 6.789 6.789 6.789 6.789 6.789 6.789
99-25 6.786 6.786 6.786 6.786 6.786 6.786
99-25+ 6.783 6.783 6.783 6.783 6.782 6.782
99-26 6.780 6.780 6.780 6.780 6.779 6.779
99-26+ 6.777 6.777 6.777 6.776 6.776 6.776
99-27 6.773 6.774 6.774 6.773 6.773 6.773
99-27+ 6.770 6.771 6.771 6.770 6.770 6.769
99-28 6.767 6.769 6.768 6.767 6.767 6.766
99-28+ 6.764 6.766 6.765 6.764 6.763 6.763
99-29 6.761 6.763 6.762 6.761 6.760 6.760
99-29+ 6.758 6.760 6.759 6.758 6.757 6.757
99-30 6.755 6.757 6.756 6.755 6.754 6.753
99-30+ 6.752 6.754 6.753 6.751 6.751 6.750
99-31 6.749 6.751 6.750 6.748 6.748 6.747
99-31+ 6.746 6.748 6.747 6.745 6.744 6.744
100-00 6.743 6.745 6.744 6.742 6.741 6.740
100-00+ 6.739 6.742 6.741 6.739 6.738 6.737
100-01 6.736 6.739 6.738 6.736 6.735 6.734
100-01+ 6.733 6.736 6.735 6.733 6.732 6.731
100-02 6.730 6.733 6.732 6.730 6.729 6.728
100-02+ 6.727 6.730 6.729 6.727 6.725 6.724
100-03 6.724 6.727 6.726 6.723 6.722 6.721
100-03+ 6.721 6.724 6.723 6.720 6.719 6.718
100-04 6.718 6.721 6.720 6.717 6.716 6.715
100-04+ 6.715 6.718 6.717 6.714 6.713 6.712
100-05 6.712 6.715 6.714 6.711 6.710 6.708
100-05+ 6.709 6.713 6.711 6.708 6.706 6.705
100-06 6.706 6.710 6.708 6.705 6.703 6.702
100-06+ 6.702 6.707 6.705 6.702 6.700 6.699
100-07 6.699 6.704 6.702 6.699 6.697 6.695
100-07+ 6.696 6.701 6.699 6.695 6.694 6.692
First Payment 3.044 3.044 3.044 3.044 3.044 3.044
Average Life 6.500 6.908 6.732 6.427 6.294 6.172
Last Payment 14.794 15.128 14.794 14.711 13.794 12.878
Mod. Dur. @ 100-0 5.035 5.274 5.172 4.991 4.909 4.834
</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>
- --------------------------------------------------------------------------------
- ABFS 1997-2
- Cut Off Date of Tape is 8/29/97
- Fixed
- $50,108,491.13
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 824
Aggregate Unpaid Principal Balance: $50,108,491.13
Aggregate Original Principal Balance: $50,201,979.00
Weighted Average Net Coupon: 12.181%
Net Coupon Range: 8.490% - 17.490%
Weighted Average Gross Coupon: 12.681%
Gross Coupon Range: 8.990% - 17.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $60,811.28
Average Original Principal Balance: $60,924.73
Maximum Unpaid Principal Balance: $360,000.00
Minimum Unpaid Principal Balance: $9,650.59
Maximum Original Principal Balance: $360,000.00
Minimum Original Principal Balance: $10,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat/Bln Date): 219.491
Stated Rem Term Range: 22.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 1.067
Age Range: 0.000 - 10.000
Weighted Average Original Term (to Mat/Bln Date): 220.558
Original Term Range: 24.000 - 360.000
Weighted Average Combined LTV: 73.012
Combined LTV Range: 8.000% - 100.000%
- --------------------------------------------------------------------------------
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
<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> <C>
8.75% less than Gross Coupon less than = 9.00% 2 117,204.88 0.23
9.00% less than Gross Coupon less than = 9.25% 3 324,023.01 0.65
9.25% less than Gross Coupon less than = 9.50% 8 718,935.59 1.43
9.50% less than Gross Coupon less than = 9.75% 8 539,068.10 1.08
9.75% less than Gross Coupon less than = 10.00% 18 1,780,344.59 3.55
10.00% less than Gross Coupon less than = 10.25% 26 1,882,639.72 3.76
10.25% less than Gross Coupon less than = 10.50% 21 1,775,592.91 3.54
10.50% less than Gross Coupon less than = 10.75% 25 1,418,503.19 2.83
10.75% less than Gross Coupon less than = 11.00% 96 5,349,778.35 10.68
11.00% less than Gross Coupon less than = 11.25% 25 1,650,596.46 3.29
11.25% less than Gross Coupon less than = 11.50% 38 1,749,308.56 3.49
11.50% less than Gross Coupon less than = 11.75% 66 3,748,160.68 7.48
11.75% less than Gross Coupon less than = 12.00% 58 3,799,498.49 7.58
12.00% less than Gross Coupon less than = 12.25% 28 1,361,993.72 2.72
12.25% less than Gross Coupon less than = 12.50% 44 2,539,155.74 5.07
12.50% less than Gross Coupon less than = 12.75% 43 1,753,436.10 3.50
12.75% less than Gross Coupon less than = 13.00% 45 2,627,990.08 5.24
13.00% less than Gross Coupon less than = 13.25% 19 1,378,738.25 2.75
13.25% less than Gross Coupon less than = 13.50% 16 787,486.11 1.57
13.50% less than Gross Coupon less than = 13.75% 6 185,505.51 0.37
13.75% less than Gross Coupon less than = 14.00% 43 1,953,470.58 3.90
14.00% less than Gross Coupon less than = 14.25% 1 17,519.62 0.03
14.25% less than Gross Coupon less than = 14.50% 13 418,724.72 0.84
14.50% less than Gross Coupon less than = 14.75% 17 345,209.93 0.69
14.75% less than Gross Coupon less than = 15.00% 10 878,677.28 1.75
15.00% less than Gross Coupon less than = 15.25% 1 29,965.78 0.06
15.25% less than Gross Coupon less than = 15.50% 9 432,924.85 0.86
15.50% less than Gross Coupon less than = 15.75% 13 1,525,494.79 3.04
15.75% less than Gross Coupon less than = 16.00% 102 7,614,685.36 15.20
16.00% less than Gross Coupon less than = 16.25% 12 893,921.26 1.78
16.25% less than Gross Coupon less than = 16.50% 5 299,470.09 0.60
16.75% less than Gross Coupon less than = 17.00% 1 48,482.65 0.10
17.50% less than Gross Coupon less than = 18.00% 2 161,984.18 0.32
- -------------------------------------------------------------------------------------------------
Total.......... 824 $ 50,108,491.13 100.00%
=================================================================================================
</TABLE>
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> <C>
12 less than Orig. Term less than = 24 2 366,909.43 0.73%
24 less than Orig. Term less than = 36 1 165,000.00 0.33%
36 less than Orig. Term less than = 48 1 24,068.31 0.05%
48 less than Orig. Term less than = 60 23 532,435.19 1.06%
60 less than Orig. Term less than = 72 2 30,940.84 0.06%
72 less than Orig. Term less than = 84 12 278,847.91 0.56%
84 less than Orig. Term less than = 96 3 52,765.39 0.11%
96 less than Orig. Term less than = 108 1 15,170.72 0.03%
108 less than Orig. Term less than = 120 90 2,797,017.36 5.58%
132 less than Orig. Term less than = 144 1 32,787.92 0.07%
144 less than Orig. Term less than = 156 1 49,926.42 0.10%
168 less than Orig. Term less than = 180 433 27,898,520.80 55.68%
228 less than Orig. Term less than = 240 129 6,748,023.58 13.47%
288 less than Orig. Term less than = 300 5 326,328.99 0.65%
348 less than Orig. Term less than = 360 120 10,789,748.27 21.53%
- ---------------------------------------------------------------------------------------
Total............ 824 50,108,491.13 100.00%
=======================================================================================
</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>
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> <C>
12 less than Rem Term less than = 24 2 366,909.43 0.73%
24 less than Rem Term less than = 36 1 165,000.00 0.33%
36 less than Rem Term less than = 48 1 24,068.31 0.05%
48 less than Rem Term less than = 60 23 532,435.19 1.06%
60 less than Rem Term less than = 72 2 30,940.84 0.06%
72 less than Rem Term less than = 84 12 278,847.91 0.56%
84 less than Rem Term less than = 96 3 52,765.39 0.11%
96 less than Rem Term less than = 108 1 15,170.72 0.03%
108 less than Rem Term less than = 120 90 2,797,017.36 5.58%
132 less than Rem Term less than = 144 1 32,787.92 0.07%
144 less than Rem Term less than = 156 1 49,926.42 0.10%
168 less than Rem Term less than = 180 433 27,898,520.80 55.68%
228 less than Rem Term less than = 240 129 6,748,023.58 13.47%
288 less than Rem Term less than = 300 5 326,328.99 0.65%
348 less than Rem Term less than = 360 120 10,789,748.27 21.53%
- ---------------------------------------------------------------------------------------
Total............ 824 50,108,491.13 100.00%
=======================================================================================
</TABLE>
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original CLTV Ratio Loans Balance Balance
<S> <C> <C> <C> <C>
5.000 less than CLTV less than = 10.000 3 49,224.45 0.10
10.000 less than CLTV less than = 15.000 6 83,375.67 0.17
15.000 less than CLTV less than = 20.000 3 134,841.22 0.27
20.000 less than CLTV less than = 25.000 10 258,651.06 0.52
25.000 less than CLTV less than = 30.000 10 255,709.06 0.51
30.000 less than CLTV less than = 35.000 15 677,787.91 1.35
35.000 less than CLTV less than = 40.000 15 672,669.50 1.34
40.000 less than CLTV less than = 45.000 30 1,081,218.91 2.16
45.000 less than CLTV less than = 50.000 25 1,433,607.18 2.86
50.000 less than CLTV less than = 55.000 26 1,819,490.57 3.63
55.000 less than CLTV less than = 60.000 42 3,360,151.20 6.71
60.000 less than CLTV less than = 65.000 50 2,747,802.59 5.48
65.000 less than CLTV less than = 70.000 79 4,584,313.65 9.15
70.000 less than CLTV less than = 75.000 111 6,656,936.88 13.29
75.000 less than CLTV less than = 80.000 150 9,280,347.01 18.52
80.000 less than CLTV less than = 85.000 134 6,604,346.34 13.18
85.000 less than CLTV less than = 90.000 106 10,038,699.42 20.03
90.000 less than CLTV less than = 95.000 6 178,595.00 0.36
95.000 less than CLTV less than = 100.000 3 190,723.51 0.38
- ----------------------------------------------------------------------------------------------
Total.................... 824 50,108,491.13 100.00%
==============================================================================================
</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>
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> <C>
5,000 less than Balance less than = 10,000 8 79,275.34 0.16
10,000 less than Balance less than = 15,000 54 724,816.66 1.45
15,000 less than Balance less than = 20,000 74 1,357,897.60 2.71
20,000 less than Balance less than = 25,000 77 1,787,672.10 3.57
25,000 less than Balance less than = 30,000 48 1,368,482.32 2.73
30,000 less than Balance less than = 35,000 52 1,743,888.84 3.48
35,000 less than Balance less than = 40,000 42 1,605,314.94 3.20
40,000 less than Balance less than = 45,000 48 2,081,859.59 4.15
45,000 less than Balance less than = 50,000 47 2,284,484.72 4.56
50,000 less than Balance less than = 55,000 36 1,898,505.91 3.79
55,000 less than Balance less than = 60,000 42 2,443,431.17 4.88
60,000 less than Balance less than = 65,000 17 1,077,177.53 2.15
65,000 less than Balance less than = 70,000 29 1,971,521.08 3.93
70,000 less than Balance less than = 75,000 25 1,811,789.28 3.62
75,000 less than Balance less than = 80,000 31 2,413,018.34 4.82
80,000 less than Balance less than = 85,000 16 1,319,723.66 2.63
85,000 less than Balance less than = 90,000 27 2,377,591.87 4.74
90,000 less than Balance less than = 95,000 17 1,579,689.84 3.15
95,000 less than Balance less than = 100,000 16 1,582,397.76 3.16
100,000 less than Balance less than = 105,000 15 1,542,270.77 3.08
105,000 less than Balance less than = 110,000 6 646,501.60 1.29
110,000 less than Balance less than = 115,000 12 1,349,294.85 2.69
115,000 less than Balance less than = 120,000 3 350,684.93 0.70
120,000 less than Balance less than = 125,000 12 1,476,203.39 2.95
125,000 less than Balance less than = 130,000 4 513,535.14 1.02
130,000 less than Balance less than = 135,000 5 659,705.56 1.32
135,000 less than Balance less than = 140,000 7 974,785.58 1.95
140,000 less than Balance less than = 145,000 3 429,713.13 0.86
145,000 less than Balance less than = 150,000 11 1,627,855.70 3.25
150,000 less than Balance less than = 200,000 20 3,557,306.95 7.10
200,000 less than Balance less than = 250,000 10 2,323,961.42 4.64
250,000 less than Balance less than = 300,000 3 811,952.12 1.62
300,000 less than Balance less than = 350,000 6 1,976,181.44 3.94
350,000 less than Balance less than = 400,000 1 360,000.00 0.72
- ---------------------------------------------------------------------------------------------
Total.................... 824 $50,108,491.13 100.00%
=============================================================================================
</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> <C>
5,000 less than Balance less than = 10,000 8 79,275.34 0.16
10,000 less than Balance less than = 15,000 54 724,816.66 1.45
15,000 less than Balance less than = 20,000 74 1,357,897.60 2.71
20,000 less than Balance less than = 25,000 77 1,787,672.10 3.57
25,000 less than Balance less than = 30,000 48 1,368,482.32 2.73
30,000 less than Balance less than = 35,000 52 1,743,888.84 3.48
35,000 less than Balance less than = 40,000 42 1,605,314.94 3.20
40,000 less than Balance less than = 45,000 48 2,081,859.59 4.15
45,000 less than Balance less than = 50,000 49 2,384,136.79 4.76
50,000 less than Balance less than = 55,000 34 1,798,853.84 3.59
55,000 less than Balance less than = 60,000 42 2,443,431.17 4.88
60,000 less than Balance less than = 65,000 17 1,077,177.53 2.15
65,000 less than Balance less than = 70,000 29 1,971,521.08 3.93
70,000 less than Balance less than = 75,000 26 1,886,552.19 3.76
75,000 less than Balance less than = 80,000 30 2,338,255.43 4.67
80,000 less than Balance less than = 85,000 16 1,319,723.66 2.63
85,000 less than Balance less than = 90,000 27 2,377,591.87 4.74
90,000 less than Balance less than = 95,000 17 1,579,689.84 3.15
95,000 less than Balance less than = 100,000 16 1,582,397.76 3.16
100,000 less than Balance less than = 105,000 15 1,542,270.77 3.08
105,000 less than Balance less than = 110,000 8 866,028.53 1.73
110,000 less than Balance less than = 115,000 10 1,129,767.92 2.25
115,000 less than Balance less than = 120,000 3 350,684.93 0.70
120,000 less than Balance less than = 125,000 12 1,476,203.39 2.95
125,000 less than Balance less than = 130,000 4 513,535.14 1.02
130,000 less than Balance less than = 135,000 5 659,705.56 1.32
135,000 less than Balance less than = 140,000 7 974,785.58 1.95
140,000 less than Balance less than = 145,000 3 429,713.13 0.86
145,000 less than Balance less than = 150,000 11 1,627,855.70 3.25
150,000 less than Balance less than = 200,000 20 3,557,306.95 7.10
200,000 less than Balance less than = 250,000 10 2,323,961.42 4.64
250,000 less than Balance less than = 300,000 3 811,952.12 1.62
300,000 less than Balance less than = 350,000 6 1,976,181.44 3.94
350,000 less than Balance less than = 400,000 1 360,000.00 0.72
- ---------------------------------------------------------------------------------------------
Total.................... 824 $ 50,108,491.13 100.00%
=============================================================================================
</TABLE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
CT 9 719,121.76 1.44
DE 18 1,049,871.37 2.10
FL 38 2,235,511.71 4.46
GA 112 8,279,692.65 16.52
MD 19 1,241,837.67 2.48
NC 35 1,655,079.98 3.30
NJ 229 14,101,180.03 28.14
NY 20 1,556,551.37 3.11
PA 316 17,305,362.48 34.54
VA 27 1,914,282.11 3.82
Missing 1 50,000.00 0.10
- --------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==========================================================================
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 3 223,816.85 0.45
Commercial 15 1,807,298.56 3.61
1-4 Resid Leasehold 25 1,305,341.97 2.61
Townhouses 100 3,773,929.66 7.53
Condominiums 9 337,122.99 0.67
Single Family 629 37,836,369.96 75.51
5+ Family 1 190,000.00 0.38
Mercantile Building 26 1,893,387.86 3.78
Multiple Properties 16 2,741,223.28 5.47
- --------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 738 42,529,458.02 84.87
Investor 42 2,252,309.47 4.49
Vacation/Second Home 9 543,328.14 1.08
Corporate 19 2,042,172.22 4.08
Multiple Prop. / Occupancy 16 2,741,223.28 5.47
- --------------------------------------------------------------------------
Total.................. 824 $ 50,108,491.13 100.00%
==========================================================================
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 458 35,164,789.24 70.18
2 359 13,259,630.54 26.46
Multiple 7 1,684,071.35 3.36
- --------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 674 37,025,799.81 73.89
Partially Amortizing 150 13,082,691.32 26.11
- --------------------------------------------------------------------------
Total.................. 824 $ 50,108,491.13 100.00%
==========================================================================
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>
LOAN CLASS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Class Loans Balance Balance
COMMERCIAL 14 1,939,690.42 3.87
RESID. WITH BUSINESS 39 4,011,475.20 8.01
RESIDENTIAL 771 44,157,325.51 88.12
- -----------------------------------------------------------------
Total.......... 824 $ 50,108,491.13 100.00%
=================================================================
BORROWER CLASS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
NEWLY ORIGINATED 4 188,400.00 0.38
BUSINESS LOANS 127 10,478,098.24 20.91
HOME EQUITY LOANS 693 39,441,992.89 78.71
- --------------------------------------------------------------------------
Total............... 824 $ 50,108,491.13 100.00%
==========================================================================
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.
