<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) March 30, 2000
Prudential Securities Secured Financing Corporation
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-75489 13-3526694
---------------------------------- ----------------- -----------------
(State or Other Jurisdiction of (Commission File (I.R.S. Employer
One New York Plaza 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 2000-1,
Mortgage Backed Notes, Series 2000-1 described in a Prospectus Supplement dated
March 15, 2000, certain "Computational Materials" within the meanings of the May
20, 1994 Kidder, Peabody No-Action Letter and the February 17, 1995 Public
Securities Association No-Action Letter were furnished to certain prospective
investors (the "Related Computational Materials").
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
-----------------------------------------------------
(a) Not applicable
(b) Not applicable
(c) Exhibit 99.1. Related Computational Materials (as defined in
Item 5 above).
2
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed on
its behalf by the undersigned thereunto duly authorized.
PRUDENTIAL SECURITIES SECURED FINANCING
CORPORATION as
----------------------------------------------------
Depositor and on behalf of ABFS Mortgage Loan
Trust 2000-1
Registrant
By: /s/ Evan Mitnick
------------------------------------
Name: Evan Mitnick
Title: Vice President
Dated: March 30, 2000
3
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
99.1 Related Computational Materials (as
defined in Item 5 above).
<PAGE>
EXHIBIT 99.1
TERM SHEET DATED March 13, 2000
Note: The following is a preliminary Term Sheet. All terms and statements are
subject to change.
$[235,000,000]
- --------------------------------------------------------------------------------
American Business Financial Services
- --------------------------------------------------------------------------------
[GRAPHIC OMITTED] AMERICAN BUSINESS
FINANCIAL SERVICES INC.
- --------------------------------------------------------------------------------
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
- --------------------------------------------------------------------------------
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
- --------------------------------------------------------------------------------
The information provided herein is provided solely to you by Prudential
Securities Incorporated ("PSI") as underwriter for the ABFS Mortgage Loan Trust
2000-1 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 its 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
consummated without the purchaser first having received a prospectus and, if
required, prospectus supplement. The Notes are offered by PSI when, as and if
issued, subject to delivery by the Depositor and acceptance by PSI, to prior
sale and to withdrawal, cancellation or modification of the offer without
notice. 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>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
PRELIMINARY INFORMATION ONLY
Offered Notes
- ---------------------------------------------------
Class A-1 Class A-2
- ---------------------------------------------------
Amount: $200,000,000 $35,000,000
Type: Fixed-Rate Floating-Rate
Coupon: [TBD]% [TBD]%
Approx. Price [TBD]% [TBD]%
Yield (%): [TBD]% [TBD]%
Spread (bps): [TBD] [TBD]
Avg Life (To Call): 3.164 yr 3.167 yr
Avg Life(To Mat): 3.440 yr 3.454 yr
1st Prin Pymt (To 04/15/2000 04/15/2000
Last Prin Pymt (To 12/15/2007 12/15/2007
Last Prin Pymt (To 10/15/2016 09/15/2015
Stated Mat: 07/15/2031 07/15/2031
Expected Settlement: 03/30/2000 03/30/2000
Payment Delay: 14 Days 0 Days
Interest Payment 30/360 Act/360
1st Interest Payment 04/15/2000 04/15/2000
Dated Date: 03/01/2000 03/30/2000
Cut-off Date (Close 02/29/2000 02/29/2000
Expected Ratings Aaa/AAA/AAA Aaa/AAA/AAA
Pricing Date: [TBD] [TBD]
Prepayment Speed: 25% HEP 25% HEP
Collateral Type: Fixed-Rate Fixed-Rate
SMMEA Eligibility: NO NO
Distribution: DTC DTC
- ---------------------------------------------------
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 2
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
CLASS A-1 NOTES
Class A-1 Coupon Step-up: Class A-1 is priced to call. If the Servicer
does not exercise the Cleanup Call, the Coupon on
Class A-1 will increase by 50 basis points.
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-1
Noteholders;
7) Monthly principal to the Class A-1 Noteholders
(as described below);
8) Certain excess cashflow to build
overcollateralization ("O/C") for Class A-1
Notes;
9) To make a payment for certain shortfalls
(excluding net mortgage loan interest
shortfalls) in payments on the Class A-2 Notes;
10) To make a deposit to a reserve fund for the
Class A-2 Notes if it is then underfunded;
11) To make a payment for net mortgage loan interest
shortfalls in payments on the Class A-1 Notes;
12) To make a payment for net mortgage loan interest
shortfalls in payments on the Class A-2 Notes;
13) Any remaining excess cashflow to the holders of
the Trust Certificates.
Class A-1 Note
Principal Paydown: All principal collected from Pool A is paid to the
Class A-1 Noteholders.
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 3
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
CLASS A-2 NOTES
Class A-2 Coupon Rate: The Class A-2 Coupon Rate at each Payment Date will
be equal to the lesser of:
1) One Month LIBOR + [TBD]% ("LIBOR Rate");
2) Available Funds Cap (less [75 bps] carve out);
3) Fixed Cap set at [13]%
Class A-2 Coupon Step-up: Class A-2 is priced to call. If the Servicer does not
exercise the Cleanup Call, the LIBOR Rate on Class
A-2 will equal One Month LIBOR + (2 x [TBD]%).
Limited Coverage of Interest
to Class A-2 by Note
Insurance Policy: The Note Insurer will insure payment of Class A-2
interest only up to the Available Funds Cap.
The "Available Funds Cap" is a rate equal to the
weighted average gross coupon rate on the Pool B
Mortgage Loans for such Payment Date less the Expense
Fee Rate and the Credit Spread Rate.
Expense Fee Rate = [0.69875]% forservicing fee,
trustee fee and surety fee. Credit Spread Rate =
[0.75]% to provide excess spread for building
overcollateralization and for covering any losses
which may occur.
LIBOR Interest
Carryforward: If, on any Payment Date, the amount of interest
(calculated at the LIBOR Rate) due to Class A-2 is
limited to the Available Funds Cap, it may be repaid
as set forth below. The excess of (i) the amount of
interest Class A-2 would be entitled to receive on
such Payment Date at the then applicable LIBOR Rate
over (ii) the amount of accrued interest for such
Payment Date at the Available Funds Cap, together with
the unpaid portion of any such excess from prior
Payment Dates (and interest accrued thereon at the
then applicable LIBOR Rate) is referred to as the
LIBOR Interest Carryforward. Any LIBOR Interest
Carryforward will be carried forward to the next
Payment Date until paid as set forth below. The LIBOR
Interest Carryforward will not be insured by the Ambac
guarantee. If, on any Payment Date, the LIBOR Rate
exceeds the Fixed Cap, the Class A-2 Noteholder will
solely be entitled to interest calculated at the Fixed
Cap.
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 4
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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-2
Noteholder (limited to the Available Funds Cap);
7) Monthly principal to the Class A-2 Noteholders
(as described below);
8) Certain excess cashflow to build
overcollateralization ("O/C") for the Class A-2
Notes;
9) To make a payment for certain shortfalls (except
net mortgage loan interest shortfalls) in
payments on the Class A-1 Notes;
10) To make a deposit to a reserve fund for the
Class A-1 Notes if it is then underfunded;
11) To make a payment for net mortgage loan interest
shortfalls in payments on the Class A-2 Notes;
12) To make a payment for net mortgage loan interest
shortfalls in payments on the Class A-1 Notes;
13) To pay any outstanding LIBOR Interest
Carryforward; and 14) Any remaining excess
cashflow to the holders of the Trust
Certificates.
Class A-2 Note
Principal Paydown: All principal collected from Pool B is paid to the
Class A-2 Noteholders.
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 5
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
SUMMARY OF TERMS
Title of Securities: ABFS Mortgage Loan Trust 2000-1, Series 2000-1 Class
A-1and Class A-2 (the "Class A Notes").
Depositor: Prudential Securities Secured Financing Corporation.
Servicer: American Business Credit, Inc,;
Upland Mortgage and New Jersey Mortgage and
Investment Corp. will act as subservicers.
Originators: American Business Credit, Inc., Home American d/b/a
Credit, Inc. Upland Mortgage and New Jersey Mortgage and
Investment Corp. originated or purchased the Mortgage
Loans.
Trustee: The Chase Manhattan Bank.
Aggregate Note Balance: $[235,000,000]
Securities Offered: 100% Ambac-guaranteed notes.
Offering: Public shelf offering -- a prospectus and prospectus
supplement will be distributed after pricing.
Pricing Date: [TBD]
Investor Settlement Date: 03/30/2000
Form of Notes: Book-Entry form, same-day funds through DTC,
Euroclear and Clearstream, Luxembourg.
Coupon: [TBD]% on Class A-1 Notes
One Month LIBOR + [TBD]% on Class A-2 Notes*
* Limited to Available Funds Cap and Fixed Cap as
described on page 4
Prepayment Assumption: 25% HEP (2.5% CPR in month 1 with monthly incremental
increases of 2.5% CPR until the speed reaches 25% 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 April 2000. The payment
delay will be 14 days for the Class A-1 and 0 days
for the Class A-2 Notes.
Class A-1 Interest With respect to any Payment Date, interest on the
Accrual Period: Class A-1 will accrue during the prior calendar month
and will be calculated based on a 360-day year
consisting of twelve 30-day months.
Class A-2 Interest With respect to the first Payment Date, interest will
Accrual Period: accrue from the Settlement Date to but excluding the
Payment Date in April. In future periods, interest
will accrue on the Class A-2 Notes from the preceding
Payment Date to but excluding the current Payment
Date.
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 6
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
Optional Cleanup Call: The Servicer may call:
1) any class of Class A Notes (in whole but not in
part), on any Payment Date when the aggregate
outstanding principal balance of the respective
Note balance is less than or equal to 10% of its
original principal balance; or
2) the Class A Notes (in whole but not in part) on
any Payment Date when the aggregate outstanding
principal balance of the Class A Notes is less
than or equal to 10% of the aggregate original
principal balance of the Class A Notes.
Credit Enhancement: 1) 100% wrap from Ambac
2) Overcollateralization
3) Excess monthly cashflow from Pool A and Pool B
Note Insurer: Ambac Assurance Corporation ("Ambac").
Ambac's claims-paying ability is rated "Aaa" by
Moody's Investors Service, "AAA" by Standard &
Poor's Ratings Services and "AAA" by Duff & Phelps
Credit Rating Co.
Note Insurance Policy: The Note Insurance Policy will provide 100% coverage
of timely interest and ultimate principal payments
due on the Class A Notes. The Note Insurance Policy
does not insure the LIBOR Interest Carryforward
amount.
Overcollateralization
and Reserve Account: The credit enhancement provisions of the Trust are
intended to provide for the acceleration of the
Class A Notes relative to the amortization of the
related collateral (i.e., Pool A for the A-1 Notes
and Pool B for the A-2 Notes), generally in the
early years of the transaction. Accelerated
amortization is achieved by applying excess interest
collected on the related collateral to the payment
of principal on the related group of Notes,
resulting in the build up of overcollateralization
("O/C"). By paying down the principal balance of the
related group of Notes faster than the principal
amortization of the related collateral pool, an
overcollateralization amount equal to the excess of
the aggregate principal balance of the related
collateral pool over the principal balance of the
related Notes is created. Beginning in the first
payment date, 100% of the excess cashflow available
from the related collateral will be directed to
build O/C until the pool initially reaches its
required O/C target. After each pool initially
reaches its required O/C target, the acceleration
feature will cease, unless it is once again
necessary to maintain its required O/C level. If the
required O/C level is not maintained, 100% of the
excess cashflow will be applied to build O/C, as
necessary, to maintain the required O/C level. If
either Pool's O/C target is reached before the O/C
target of the other Pool, 100% of the excess
cashflow from the "satisfied" Pool will be directed
to a reserve account to the extent of any deficiency
in the O/C requirement for the "unsatisfied" Pool.
After initially reaching its O/C target, if either
Pool's O/C target is maintained and the other Pool
becomes deficient in its O/C requirement, 100% of
the excess cashflow from the "satisfied" Pool will
be directed to a reserve account to the extent of
any deficiency in the O/C requirement for the
"unsatisfied" Pool. If the sum of the O/C level of
the "unsatisfied" Pool and the amount on deposit in
the related Reserve Account exceeds the O/C target,
such excess will be distributed to the related Trust
Certificateholder. Funds on deposit in the Reserve
Account will be used to pay shortfalls of current
interest on or credit losses related to any Class of
Notes, but only to the extent the O/C level on such
Class has been reduced to zero.
Cross-Collateralization: The pools are cross-collateralized to a limited
extent.
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 7
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
Overcollateralization
Levels for
Pool A & Pool B (Approx.): Initial O/C based on original
collateral balance: [0.75%]
O/C Target based on original
collateral balance: [5.95%]
These O/C percentages are subject to step-downs
beginning in month [37] if certain tests are met.
Collateral Information: The collateral information presented herein is a
projection of the expected collateral pool. The
actual collateral will be accumulated before the
Settlement Date to reach Pool A's expected closing
pool balance of $[136,170,212,77] and Pool B's
expected closing pool balance of $[23,829,787.23].
The characteristics of such additional collateral
are not expected to be materially different from the
collateral information presented herein.
Pool A Pre-funding Account: On the Settlement Date, an aggregate cash amount
(the "Pool A Pre-funded Amount"), which will equal
approximately $[65,341,122.25] will be deposited in
the Pool 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 Pool A Pre-funding Account is less
than $100,000, (ii) the date on which any Servicer
default occurs, or (iii) [June 30, 2000], the Pool A
Pre-funding Amount will remain in the Pool A
Pre-funding Account. The Pool A Pre-funding Account
will be reduced during the Funding Period by amounts
used to purchase subsequent mortgages in accordance
with the Indenture. Any Pool A Pre-funded Amount
remaining at the end of the Funding Period (net of
reinvestment income payable to the Trust
Certificateholders) will be distributed to the Class
A-1 Noteholders on the [July 17, 2000] Payment Date
as a partial prepayment of principal on such Class
of Notes.
Pool B Pre-funding Account: On the Settlement Date, an aggregate cash amount
(the "Pool B Pre-funded Amount"), which will equal
approximately $[11,434,696.39] will be deposited in
the Pool B 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 Pool B Pre-funding Account is less
than $100,000, (ii) the date on which any Servicer
default occurs, or (iii) [June 30, 2000], the Pool B
Pre-funding Amount will remain in the Pool B
Pre-funding Account. The Pool B Pre-funding Account
will be reduced during the Funding Period by amounts
used to purchase subsequent mortgages in accordance
with the Indenture. Any Pool B Pre-funded Amount
remaining at the end of the Funding Period (net of
reinvestment income payable to the Trust
Certificateholders) will be distributed to the Class
A-2 Noteholders on the [July 17, 2000] Payment Date
as a partial prepayment of principal on such Class
of Notes.
Servicing Fee: 50 basis points.
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 8
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
ERISA Considerations: The Class A Notes will be ERISA eligible. Investors
should consult with their counsel with respect to
the consequences under ERISA and the Internal
Revenue Code of a Plan's acquisition and ownership
of such Notes.
Taxation: Class A Notes: Debt for tax. The Notes will be
issued by an Owner Trust.
Legal Investment: None of the Class A Notes will be SMMEA-eligible.
Note Ratings: Moody's: "Aaa" for all Class A Notes.
S&P: "AAA" for all Class A Notes.
Duff & Phelps: "AAA" for all Class A Notes.
Prospectus: The Notes are being offered pursuant to a Prospectus
which includes a Prospectus Supplement (together,
the "Prospectus"). Complete information with respect
to the Notes and the initial collateral pool is
contained in the Prospectus. The foregoing is
qualified in its entirety by the information
appearing in the Prospectus. To the extent that the
foregoing is inconsistent with the Prospectus, the
Prospectus shall govern in all respects. Sales of
the Notes may not be consummated unless the
purchaser has received the Prospectus.
Further Information: Trading: Greg Richter, Rob Karr or Jim Regan at
(212) 778-2741,
Banking: Evan Mitnick at (212) 778-7469, Shelby
Carvalho at (212) 778-4127 or Kenny
Rosenberg at (212) 778-2440.
FSG: Howard Blecher at (212) 778-4429 or Jeff
Park at (212) 778-2108.
Copies of Prospectus: Please send an e-mail with client's name, address
and phone number to Kenny Rosenberg
at:[email protected]
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 9
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
Projected Available Funds Cap of Pool B
GROSS WAC - SERVICING, TRUSTEE & SURETY FEES [69.875] bps - [75] bps CARVE-OUT
(Using 30/360 Day Count)
DATE COUPON
- ----------------
04/00 9.902
05/00 9.898
06/00 9.891
07/00 11.975
08/00 11.976
09/00 11.976
10/00 11.976
11/00 11.976
12/00 11.976
01/01 11.977
02/01 11.977
03/01 11.977
04/01 11.977
05/01 11.977
06/01 11.977
07/01 11.978
08/01 11.978
09/01 11.978
10/01 11.978
11/01 11.978
12/01 11.979
01/02 11.979
02/02 11.979
03/02 11.979
04/02 11.979
05/02 11.980
06/02 11.980
07/02 11.980
08/02 11.980
09/02 11.981
10/02 11.981
11/02 11.981
12/02 11.981
01/03 11.981
02/03 11.982
03/03 11.982
04/03 11.982
05/03 11.982
06/03 11.983
07/03 11.983
08/03 11.983
09/03 11.983
10/03 11.984
11/03 11.984
12/03 11.984
01/04 11.984
02/04 11.985
03/04 11.985
04/04 11.985
05/04 11.986
06/04 11.986
07/04 11.986
08/04 11.986
09/04 11.987
10/04 11.987
11/04 11.987
12/04 11.988
01/05 11.988
02/05 11.988
03/05 11.989
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 10
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C>
CURRENT BALANCE: $200,000,000.00 DATED DATE: 03/01/00
COUPON: [TBD]% abfs001 FIRST PAYMENT: 04/15/00
FACTOR: 1.0000000000 TOTAL CLASSES: 2
ORIGINAL BALANCE: $200,000,000.00 BOND A1 BE-YIELD TABLE YIELD TABLE DATE: 03/30/00
PREPAYMENT SPEED
***TO CALL***
</TABLE>
15.00% 20.00% 25.00% 30.00% 35.00%
PRICE HEP HEP HEP HEP HEP
99-24 7.90 7.90 7.90 7.89 7.89
99-24+ 7.90 7.89 7.89 7.89 7.88
99-25 7.89 7.89 7.88 7.88 7.87
99-25+ 7.89 7.88 7.88 7.87 7.87
99-26 7.89 7.88 7.87 7.87 7.86
99-26+ 7.88 7.87 7.87 7.86 7.85
99-27 7.88 7.87 7.86 7.85 7.84
99-27+ 7.87 7.86 7.85 7.84 7.83
99-28 7.87 7.86 7.85 7.84 7.83
99-28+ 7.86 7.85 7.84 7.83 7.82
99-29 7.86 7.85 7.84 7.82 7.81
99-29+ 7.86 7.84 7.83 7.82 7.80
99-30 7.85 7.84 7.82 7.81 7.79
99-30+ 7.85 7.83 7.82 7.80 7.79
99-31 7.84 7.83 7.81 7.80 7.78
99-31+ 7.84 7.82 7.81 7.79 7.77
100-00 7.83 7.82 7.80 7.78 7.76
100-00+ 7.83 7.81 7.79 7.77 7.75
100-01 7.83 7.81 7.79 7.77 7.75
100-01+ 7.82 7.80 7.78 7.76 7.74
100-02 7.82 7.80 7.77 7.75 7.73
100-02+ 7.81 7.79 7.77 7.75 7.72
100-03 7.81 7.79 7.76 7.74 7.71
100-03+ 7.80 7.78 7.76 7.73 7.71
100-04 7.80 7.78 7.75 7.72 7.70
100-04+ 7.80 7.77 7.74 7.72 7.69
100-05 7.79 7.76 7.74 7.71 7.68
100-05+ 7.79 7.76 7.73 7.70 7.68
100-06 7.78 7.75 7.73 7.70 7.67
100-06+ 7.78 7.75 7.72 7.69 7.66
100-07 7.77 7.74 7.71 7.68 7.65
100-07+ 7.77 7.74 7.71 7.68 7.64
First Payment 0.042 0.042 0.042 0.042 0.042
Average Life 4.982 3.874 3.164 2.665 2.295
Last Payment 12.375 9.542 7.708 6.375 5.375
Mod.Dur. @ 100-00 3.630 2.999 2.552 2.215 1.950
Accrued Interest 0.628 0.628 0.628 0.628 0.628
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 11
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
CURRENT BALANCE: $35,000,000.00 DATED DATE: 03/30/00
CURRENT COUPON: [TBD]% abfs001 FIRST PAYMENT: 04/15/00
FACTOR: 1.0000000000 TOTAL CLASSES: 2
ORIGINAL BALANCE: $35,000,000.00 YIELD TABLE DATE: 03/30/00
BOND A2 DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.9890
***TO CALL***
15.00% 20.00% 25.00% 30.00% 35.00%
PRICE HEP HEP HEP HEP HEP
99-24 41.24 42.66 44.08 45.54 47.03
99-24+ 40.85 42.18 43.51 44.88 46.28
99-25 40.46 41.70 42.94 44.22 45.53
99-25+ 40.07 41.22 42.38 43.56 44.77
99-26 39.68 40.74 41.81 42.90 44.02
99-26+ 39.29 40.26 41.24 42.24 43.27
99-27 38.90 39.78 40.67 41.58 42.52
99-27+ 38.51 39.30 40.10 40.92 41.76
99-28 38.12 38.82 39.54 40.26 41.01
99-28+ 37.73 38.35 38.97 39.61 40.26
99-29 37.34 37.87 38.40 38.95 39.51
99-29+ 36.95 37.39 37.83 38.29 38.76
99-30 36.56 36.91 37.27 37.63 38.00
99-30+ 36.17 36.43 36.70 36.97 37.25
99-31 35.78 35.96 36.13 36.32 36.50
99-31+ 35.39 35.48 35.57 35.66 35.75
100-00 35.00 35.00 35.00 35.00 35.00
100-00+ 34.61 34.52 34.43 34.34 34.25
100-01 34.22 34.05 33.87 33.69 33.50
100-01+ 33.83 33.57 33.30 33.03 32.75
100-02 33.44 33.09 32.74 32.37 32.00
100-02+ 33.05 32.61 32.17 31.72 31.25
100-03 32.67 32.14 31.60 31.06 30.50
100-03+ 32.28 31.66 31.04 30.40 29.75
100-04 31.89 31.18 30.47 29.75 29.00
100-04+ 31.50 30.71 29.91 29.09 28.25
100-05 31.11 30.23 29.34 28.43 27.50
100-05+ 30.72 29.76 28.78 27.78 26.75
100-06 30.34 29.28 28.21 27.12 26.01
100-06+ 29.95 28.80 27.65 26.47 25.26
100-07 29.56 28.33 27.09 25.81 24.51
100-07+ 29.17 27.85 26.52 25.16 23.76
First Payment 0.042 0.042 0.042 0.042 0.042
Average Life 5.035 3.892 3.167 2.660 2.284
Last Payment 12.375 9.542 7.708 6.375 5.375
Mod.Dur. @ 100-00 3.849 3.138 2.645 2.278 1.995
Accrued Interest 0.000 0.000 0.000 0.000 0.000
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 12
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
POOL A
- --------------------------------------------------------------------------------
Cut Off Date 2/22/00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Cut-off Principal Balance: $85,264,819.75
Number of Loans: 1,300
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Lien Status: 1st and 2nd Lien Loans
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Aggregate Unpaid Principal Balance: $85,264,819.75
Aggregate Original Principal Balance: $85,321,560.42
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Weighted Average Gross Coupon: 11.953%
Gross Coupon Range: 7.590% - 18.990%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $65,588.32
Average Original Principal Balance: $65,631.97
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Maximum Unpaid Principal Balance: $251,000.00
Minimum Unpaid Principal Balance: $10,541.05
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Maximum Original Principal Balance: $251,000.00
Minimum Original Principal Balance: $10,575.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 241.282 (1)
Stated Rem Term Range: 35.000 - 360.000
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Weighted Average Age: 0.258
Age Range: 0.000 - 16.000
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Weighted Average Original Term: 241.541 (1)
Original Term Range: 36.000 - 360.000
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Weighted Average Combined LTV: 79.037
Combined LTV Range: 11.630% - 112.250%
- --------------------------------------------------------------------------------
(1) Balloons to balloon term
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 13
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
7.50% (less than) Gross Coupon (less than or equal to) 7.75% 1 39,903.05 0.05
9.25% (less than) Gross Coupon (less than or equal to) 9.50% 2 368,824.59 0.43
9.50% (less than) Gross Coupon (less than or equal to) 9.75% 3 446,500.00 0.52
9.75% (less than) Gross Coupon (less than or equal to) 10.00% 19 1,775,965.40 2.08
10.00% (less than) Gross Coupon (less than or equal to) 10.25% 35 3,091,092.75 3.63
10.25% (less than) Gross Coupon (less than or equal to) 10.50% 71 5,532,256.96 6.49
10.50% (less than) Gross Coupon (less than or equal to) 10.75% 67 5,592,385.25 6.56
10.75% (less than) Gross Coupon (less than or equal to) 11.00% 183 17,330,951.16 20.33
11.00% (less than) Gross Coupon (less than or equal to) 11.25% 66 5,329,640.73 6.25
11.25% (less than) Gross Coupon (less than or equal to) 11.50% 112 6,952,066.54 8.15
11.50% (less than) Gross Coupon (less than or equal to) 11.75% 70 4,901,489.32 5.75
11.75% (less than) Gross Coupon (less than or equal to) 12.00% 143 9,136,121.69 10.71
12.00% (less than) Gross Coupon (less than or equal to) 12.25% 40 2,185,486.13 2.56
12.25% (less than) Gross Coupon (less than or equal to) 12.50% 63 2,686,138.81 3.15
12.50% (less than) Gross Coupon (less than or equal to) 12.75% 45 2,169,482.29 2.54
12.75% (less than) Gross Coupon (less than or equal to) 13.00% 91 4,150,574.46 4.87
13.00% (less than) Gross Coupon (less than or equal to) 13.25% 27 984,799.26 1.15
13.25% (less than) Gross Coupon (less than or equal to) 13.50% 40 1,263,281.52 1.48
13.50% (less than) Gross Coupon (less than or equal to) 13.75% 14 418,241.02 0.49
13.75% (less than) Gross Coupon (less than or equal to) 14.00% 38 1,176,370.23 1.38
14.00% (less than) Gross Coupon (less than or equal to) 14.25% 11 348,614.59 0.41
14.25% (less than) Gross Coupon (less than or equal to) 14.50% 8 286,584.30 0.34
14.50% (less than) Gross Coupon (less than or equal to) 14.75% 3 81,100.00 0.10
14.75% (less than) Gross Coupon (less than or equal to) 15.00% 11 681,975.95 0.80
15.00% (less than) Gross Coupon (less than or equal to) 15.25% 4 112,664.67 0.13
15.25% (less than) Gross Coupon (less than or equal to) 15.50% 2 40,859.41 0.05
15.50% (less than) Gross Coupon (less than or equal to) 15.75% 14 740,879.85 0.87
15.75% (less than) Gross Coupon (less than or equal to) 16.00% 10 575,664.27 0.68
16.00% (less than) Gross Coupon (less than or equal to) 16.25% 96 6,137,033.57 7.20
16.25% (less than) Gross Coupon (less than or equal to) 16.50% 7 463,569.92 0.54
16.75% (less than) Gross Coupon (less than or equal to) 17.00% 2 160,000.00 0.19
17.50% (less than) Gross Coupon (less than or equal to) 18.00% 1 19,802.06 0.02
18.50% (less than) Gross Coupon (less than or equal to) 19.00% 1 84,500.00 0.10
- ------------------------------------------------------------------------------------------------------------
Total.......... 1,300 $ 85,264,819.75 100.00%
============================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 14
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
24 (less than) Orig. Term (less than or equal to) 36 5 342,112.38 0.40%
48 (less than) Orig. Term (less than or equal to) 60 17 431,838.10 0.51%
60 (less than) Orig. Term (less than or equal to) 72 2 70,690.00 0.08%
72 (less than) Orig. Term (less than or equal to) 84 10 245,166.55 0.29%
96 (less than) Orig. Term (less than or equal to) 108 3 88,233.46 0.10%
108 (less than) Orig. Term (less than or equal to) 120 127 4,933,911.37 5.79%
132 (less than) Orig. Term (less than or equal to) 144 2 77,000.00 0.09%
144 (less than) Orig. Term (less than or equal to) 156 1 24,859.45 0.03%
168 (less than) Orig. Term (less than or equal to) 180 529 31,260,949.62 36.66%
180 (less than) Orig. Term (less than or equal to) 192 1 75,600.00 0.09%
204 (less than) Orig. Term (less than or equal to) 216 3 159,330.00 0.19%
228 (less than) Orig. Term (less than or equal to) 240 359 23,057,399.81 27.04%
240 (less than) Orig. Term (less than or equal to) 252 1 125,000.00 0.15%
288 (less than) Orig. Term (less than or equal to) 300 20 1,587,191.66 1.86%
336 (less than) Orig. Term (less than or equal to) 348 3 473,425.00 0.56%
348 (less than) Orig. Term (less than or equal to) 360 217 22,312,112.35 26.17%
- --------------------------------------------------------------------------------------------------
Total............ 1,300 $ 85,264,819.75 100.00%
==================================================================================================
</TABLE>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
24 (less than) Rem Term (less than or equal to) 36 5 342,112.38 0.40%
48 (less than) Rem Term (less than or equal to) 60 17 431,838.10 0.51%
60 (less than) Rem Term (less than or equal to) 72 2 70,690.00 0.08%
72 (less than) Rem Term (less than or equal to) 84 10 245,166.55 0.29%
96 (less than) Rem Term (less than or equal to) 108 4 104,688.05 0.12%
108 (less than) Rem Term (less than or equal to) 120 126 4,917,456.78 5.77%
132 (less than) Rem Term (less than or equal to) 144 2 77,000.00 0.09%
144 (less than) Rem Term (less than or equal to) 156 1 24,859.45 0.03%
168 (less than) Rem Term (less than or equal to) 180 529 31,260,949.62 36.66%
180 (less than) Rem Term (less than or equal to) 192 1 75,600.00 0.09%
204 (less than) Rem Term (less than or equal to) 216 3 159,330.00 0.19%
228 (less than) Rem Term (less than or equal to) 240 359 23,057,399.81 27.04%
240 (less than) Rem Term (less than or equal to) 252 1 125,000.00 0.15%
288 (less than) Rem Term (less than or equal to) 300 20 1,587,191.66 1.86%
336 (less than) Rem Term (less than or equal to) 348 3 473,425.00 0.56%
348 (less than) Rem Term (less than or equal to) 360 217 22,312,112.35 26.17%
- --------------------------------------------------------------------------------------------------
Total............ 1,300 $ 85,264,819.75 100.00%
==================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 15
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
10.000 (less than) CLTV (less than or equal to) 15.000 4 90,000.00 0.11
15.000 (less than) CLTV (less than or equal to) 20.000 3 82,000.00 0.10
20.000 (less than) CLTV (less than or equal to) 25.000 3 138,000.00 0.16
25.000 (less than) CLTV (less than or equal to) 30.000 12 605,876.54 0.71
30.000 (less than) CLTV (less than or equal to) 35.000 9 351,193.67 0.41
35.000 (less than) CLTV (less than or equal to) 40.000 10 448,500.00 0.53
40.000 (less than) CLTV (less than or equal to) 45.000 17 888,486.41 1.04
45.000 (less than) CLTV (less than or equal to) 50.000 27 1,445,125.76 1.69
50.000 (less than) CLTV (less than or equal to) 55.000 30 1,813,934.40 2.13
55.000 (less than) CLTV (less than or equal to) 60.000 38 1,907,435.05 2.24
60.000 (less than) CLTV (less than or equal to) 65.000 70 4,731,934.35 5.55
65.000 (less than) CLTV (less than or equal to) 70.000 75 5,130,867.79 6.02
70.000 (less than) CLTV (less than or equal to) 75.000 134 8,556,838.56 10.04
75.000 (less than) CLTV (less than or equal to) 80.000 240 17,395,588.27 20.40
80.000 (less than) CLTV (less than or equal to) 85.000 256 16,685,250.63 19.57
85.000 (less than) CLTV (less than or equal to) 90.000 204 17,854,302.60 20.94
90.000 (less than) CLTV (less than or equal to) 95.000 19 643,977.48 0.76
95.000 (less than) CLTV (less than or equal to) 100.000 147 6,456,102.30 7.57
100.000 (less than) CLTV (less than or equal to) 105.000 1 22,951.35 0.03
110.000 (less than) CLTV (less than or equal to) 115.000 1 16,454.59 0.02
- ---------------------------------------------------------------------------------------------------------
Total.................... 1,300 $ 85,264,819.75 100.00%
=========================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 16
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
10,000 (less than) Balance (less than or equal to) 15,000 35 469,321.41 0.55
15,000 (less than) Balance (less than or equal to) 20,000 74 1,378,928.50 1.62
20,000 (less than) Balance (less than or equal to) 25,000 106 2,489,512.98 2.92
25,000 (less than) Balance (less than or equal to) 30,000 110 3,091,961.99 3.63
30,000 (less than) Balance (less than or equal to) 35,000 91 3,021,047.93 3.54
35,000 (less than) Balance (less than or equal to) 40,000 101 3,853,362.81 4.52
40,000 (less than) Balance (less than or equal to) 45,000 68 2,922,364.65 3.43
45,000 (less than) Balance (less than or equal to) 50,000 79 3,824,736.15 4.49
50,000 (less than) Balance (less than or equal to) 55,000 55 2,906,484.52 3.41
55,000 (less than) Balance (less than or equal to) 60,000 75 4,348,676.97 5.10
60,000 (less than) Balance (less than or equal to) 65,000 44 2,768,416.84 3.25
65,000 (less than) Balance (less than or equal to) 70,000 39 2,651,229.92 3.11
70,000 (less than) Balance (less than or equal to) 75,000 48 3,481,751.37 4.08
75,000 (less than) Balance (less than or equal to) 80,000 38 2,964,788.03 3.48
80,000 (less than) Balance (less than or equal to) 85,000 33 2,755,589.54 3.23
85,000 (less than) Balance (less than or equal to) 90,000 25 2,188,563.42 2.57
90,000 (less than) Balance (less than or equal to) 95,000 17 1,570,512.74 1.84
95,000 (less than) Balance (less than or equal to) 100,000 20 1,959,799.59 2.30
100,000 (less than) Balance (less than or equal to) 105,000 14 1,446,380.61 1.70
105,000 (less than) Balance (less than or equal to) 110,000 24 2,595,221.67 3.04
110,000 (less than) Balance (less than or equal to) 115,000 18 2,031,647.82 2.38
115,000 (less than) Balance (less than or equal to) 120,000 19 2,247,830.54 2.64
120,000 (less than) Balance (less than or equal to) 125,000 14 1,725,636.06 2.02
125,000 (less than) Balance (less than or equal to) 130,000 8 1,024,282.89 1.20
130,000 (less than) Balance (less than or equal to) 135,000 13 1,725,600.00 2.02
135,000 (less than) Balance (less than or equal to) 140,000 16 2,205,529.36 2.59
140,000 (less than) Balance (less than or equal to) 145,000 11 1,575,640.16 1.85
145,000 (less than) Balance (less than or equal to) 150,000 3 444,009.16 0.52
150,000 (less than) Balance (less than or equal to) 200,000 66 11,401,579.92 13.37
200,000 (less than) Balance (less than or equal to) 250,000 35 7,943,412.20 9.32
250,000 (less than) Balance (less than or equal to) 300,000 1 251,000.00 0.29
- -----------------------------------------------------------------------------------------------------
Total.................... 1,300 $ 85,264,819.75 100.00%
=====================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 17
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
10,000 (less than) Balance (less than or equal to) 15,000 35 469,321.41 0.55
15,000 (less than) Balance (less than or equal to) 20,000 75 1,398,883.86 1.64
20,000 (less than) Balance (less than or equal to) 25,000 105 2,469,557.62 2.90
25,000 (less than) Balance (less than or equal to) 30,000 110 3,091,961.99 3.63
30,000 (less than) Balance (less than or equal to) 35,000 91 3,021,047.93 3.54
35,000 (less than) Balance (less than or equal to) 40,000 101 3,853,362.81 4.52
40,000 (less than) Balance (less than or equal to) 45,000 68 2,922,364.65 3.43
45,000 (less than) Balance (less than or equal to) 50,000 79 3,824,736.15 4.49
50,000 (less than) Balance (less than or equal to) 55,000 55 2,906,484.52 3.41
55,000 (less than) Balance (less than or equal to) 60,000 75 4,348,676.97 5.10
60,000 (less than) Balance (less than or equal to) 65,000 44 2,768,416.84 3.25
65,000 (less than) Balance (less than or equal to) 70,000 39 2,651,229.92 3.11
70,000 (less than) Balance (less than or equal to) 75,000 48 3,481,751.37 4.08
75,000 (less than) Balance (less than or equal to) 80,000 38 2,964,788.03 3.48
80,000 (less than) Balance (less than or equal to) 85,000 33 2,755,589.54 3.23
85,000 (less than) Balance (less than or equal to) 90,000 25 2,188,563.42 2.57
90,000 (less than) Balance (less than or equal to) 95,000 17 1,570,512.74 1.84
95,000 (less than) Balance (less than or equal to) 100,000 20 1,959,799.59 2.30
100,000 (less than) Balance (less than or equal to) 105,000 14 1,446,380.61 1.70
105,000 (less than) Balance (less than or equal to) 110,000 24 2,595,221.67 3.04
110,000 (less than) Balance (less than or equal to) 115,000 18 2,031,647.82 2.38
115,000 (less than) Balance (less than or equal to) 120,000 19 2,247,830.54 2.64
120,000 (less than) Balance (less than or equal to) 125,000 14 1,725,636.06 2.02
125,000 (less than) Balance (less than or equal to) 130,000 8 1,024,282.89 1.20
130,000 (less than) Balance (less than or equal to) 135,000 13 1,725,600.00 2.02
135,000 (less than) Balance (less than or equal to) 140,000 16 2,205,529.36 2.59
140,000 (less than) Balance (less than or equal to) 145,000 11 1,575,640.16 1.85
145,000 (less than) Balance (less than or equal to) 150,000 3 444,009.16 0.52
150,000 (less than) Balance (less than or equal to) 200,000 66 11,401,579.92 13.37
200,000 (less than) Balance (less than or equal to) 250,000 35 7,943,412.20 9.32
250,000 (less than) Balance (less than or equal to) 300,000 1 251,000.00 0.29
- ------------------------------------------------------------------------------------------------------
Total.................... 1,300 $ 85,264,819.75 100.00%
======================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 18
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alabama 2 144,515.06 0.17
Arizona 1 29,000.00 0.03
Arkansas 3 139,542.45 0.16
Colorado 2 67,927.45 0.08
Connecticut 25 1,896,707.01 2.22
Delaware 20 1,362,183.10 1.60
Florida 152 9,528,520.55 11.18
Georgia 50 3,493,016.20 4.10
Illinois 70 5,050,933.41 5.92
Indiana 25 1,279,368.85 1.50
Kentucky 8 554,575.90 0.65
Louisiana 1 90,000.00 0.11
Maryland 36 1,841,229.65 2.16
Massachusetts 31 2,259,875.11 2.65
Michigan 36 1,700,984.33 1.99
Minnesota 1 15,000.00 0.02
Mississippi 3 166,000.00 0.19
Missouri 11 569,362.30 0.67
New Hampshire 4 361,656.28 0.42
New Jersey 175 11,137,746.36 13.06
New York 235 20,481,066.68 24.02
North Carolina 45 2,934,553.61 3.44
North Dakota 2 78,000.00 0.09
Ohio 68 3,804,776.96 4.46
Oklahoma 1 59,840.00 0.07
Oregon 1 172,000.00 0.20
Pennsylvania 189 9,275,452.08 10.88
Rhode Island 4 532,294.27 0.62
South Carolina 19 1,197,969.47 1.40
Tennessee 30 1,668,176.33 1.96
Vermont 1 185,000.00 0.22
Virginia 45 2,836,275.89 3.33
Washington 1 63,830.95 0.07
West Virginia 1 71,400.00 0.08
Wisconsin 2 216,039.50 0.25
- --------------------------------------------------------------------------
Total............... 1,300 $ 85,264,819.75 100.00%
==========================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 19
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Mixed Use 43 3,389,576.36 3.98
PUD 18 1,090,448.29 1.28
Commercial 13 890,500.00 1.04
Townhouses 83 4,568,483.07 5.36
2-4 Family 104 9,978,086.90 11.70
Condominiums 45 2,301,819.61 2.70
Single Family Detached 984 62,408,126.70 73.19
Mobile Home 10 637,778.82 0.75
- --------------------------------------------------------------------------
Total............... 1,300 $ 85,264,819.75 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 1,154 75,239,829.92 88.24
Investor 81 5,368,042.06 6.30
Vacation/Second Home 9 376,871.41 0.44
Business 56 4,280,076.36 5.02
- --------------------------------------------------------------------------
Total.................. 1,300 $ 85,264,819.75 100.00%
==========================================================================
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 20
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 762 65,668,060.45 77.02
2 538 19,596,759.30 22.98
- --------------------------------------------------------------------------
Total............... 1,300 $ 85,264,819.75 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Amortization Loans Balance Balance
Fully Amortizing 783 50,440,498.83 59.16
Partially Amortizing 517 34,824,320.92 40.84
- --------------------------------------------------------------------------
Total.................. 1,300 $ 85,264,819.75 100.00%
==========================================================================
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 21
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
POOL B
- --------------------------------------------------------------------------------
Cut Off Date 2/22/00
Cut-off Principal Balance: $13,659,115.27
Number of Loans: 80
Lien Status: 1st and 2nd Lien Loans
Aggregate Unpaid Principal Balance: $13,659,115.27
Aggregate Original Principal Balance: $13,662,942.00
Weighted Average Gross Coupon: 13.435%
Gross Coupon Range: 10.240% - 16.500%
Average Unpaid Principal Balance: $170,738.94
Average Original Principal Balance: $170,786.78
Maximum Unpaid Principal Balance: $650,000.00
Minimum Unpaid Principal Balance: $15,000.00
Maximum Original Principal Balance: $650,000.00
Minimum Original Principal Balance: $15,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 210.638 (1)
Stated Rem Term Range: 84.000 - 360.000
Weighted Average Age: 0.239
Age Range: 0.000 - 4.000
Weighted Average Original Term: 210.878 (1)
Original Term Range: 84.000 - 360.000
Weighted Average Combined LTV: 73.500
Combined LTV Range: 38.080% - 100.000%
- --------------------------------------------------------------------------------
(1) Balloons to balloon term
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 22
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
10.00% (less than) Gross Coupon (less than or equal to) 10.25% 1 275,000.00 2.01
10.25% (less than) Gross Coupon (less than or equal to) 10.50% 2 155,000.00 1.13
10.50% (less than) Gross Coupon (less than or equal to) 10.75% 6 1,077,629.90 7.89
10.75% (less than) Gross Coupon (less than or equal to) 11.00% 13 1,896,565.50 13.88
11.00% (less than) Gross Coupon (less than or equal to) 11.25% 3 604,500.00 4.43
11.25% (less than) Gross Coupon (less than or equal to) 11.50% 3 647,448.86 4.74
11.50% (less than) Gross Coupon (less than or equal to) 11.75% 1 279,926.04 2.05
11.75% (less than) Gross Coupon (less than or equal to) 12.00% 5 635,500.00 4.65
12.00% (less than) Gross Coupon (less than or equal to) 12.25% 2 344,000.00 2.52
12.25% (less than) Gross Coupon (less than or equal to) 12.50% 7 511,274.05 3.74
12.50% (less than) Gross Coupon (less than or equal to) 12.75% 3 323,917.12 2.37
12.75% (less than) Gross Coupon (less than or equal to) 13.00% 11 1,276,345.24 9.34
13.00% (less than) Gross Coupon (less than or equal to) 13.25% 1 61,000.00 0.45
13.50% (less than) Gross Coupon (less than or equal to) 13.75% 2 204,681.00 1.50
13.75% (less than) Gross Coupon (less than or equal to) 14.00% 1 56,827.56 0.42
14.25% (less than) Gross Coupon (less than or equal to) 14.50% 1 46,500.00 0.34
14.75% (less than) Gross Coupon (less than or equal to) 15.00% 1 145,000.00 1.06
15.75% (less than) Gross Coupon (less than or equal to) 16.00% 2 649,000.00 4.75
16.00% (less than) Gross Coupon (less than or equal to) 16.25% 14 4,019,000.00 29.42
16.25% (less than) Gross Coupon (less than or equal to) 16.50% 1 450,000.00 3.29
- ------------------------------------------------------------------------------------------------------------
Total.......... 80 $ 13,659,115.27 100.00%
============================================================================================================
</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>
72 (less than) Orig. Term (less than or equal to) 84 1 355,000.00 2.60%
108 (less than) Orig. Term (less than or equal to) 120 1 149,308.86 1.09%
168 (less than) Orig. Term (less than or equal to) 180 42 8,667,362.33 63.45%
228 (less than) Orig. Term (less than or equal to) 240 24 2,835,835.52 20.76%
288 (less than) Orig. Term (less than or equal to) 300 1 44,000.00 0.32%
348 (less than) Orig. Term (less than or equal to) 360 11 1,607,608.56 11.77%
- --------------------------------------------------------------------------------------------------
Total............ 80 $ 13,659,115.27 100.00%
==================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 23
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
72 (less than) Rem Term (less than or equal to) 84 1 355,000.00 2.60%
108 (less than) Rem Term (less than or equal to) 120 1 149,308.86 1.09%
168 (less than) Rem Term (less than or equal to) 180 42 8,667,362.33 63.45%
228 (less than) Rem Term (less than or equal to) 240 24 2,835,835.52 20.76%
288 (less than) Rem Term (less than or equal to) 300 1 44,000.00 0.32%
348 (less than) Rem Term (less than or equal to) 360 11 1,607,608.56 11.77%
- --------------------------------------------------------------------------------------------------
Total............ 80 $ 13,659,115.27 100.00%
==================================================================================================
</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>
35.000 (less than) CLTV (less than or equal to) 40.000 2 900,000.00 6.59
40.000 (less than) CLTV (less than or equal to) 45.000 1 150,000.00 1.10
45.000 (less than) CLTV (less than or equal to) 50.000 4 919,000.00 6.73
50.000 (less than) CLTV (less than or equal to) 55.000 1 47,000.00 0.34
55.000 (less than) CLTV (less than or equal to) 60.000 3 1,200,000.00 8.79
60.000 (less than) CLTV (less than or equal to) 65.000 4 689,000.00 5.04
65.000 (less than) CLTV (less than or equal to) 70.000 7 1,595,000.00 11.68
70.000 (less than) CLTV (less than or equal to) 75.000 8 1,167,574.82 8.55
75.000 (less than) CLTV (less than or equal to) 80.000 6 639,100.00 4.68
80.000 (less than) CLTV (less than or equal to) 85.000 15 2,060,249.93 15.08
85.000 (less than) CLTV (less than or equal to) 90.000 19 2,991,159.38 21.90
90.000 (less than) CLTV (less than or equal to) 95.000 5 923,356.81 6.76
95.000 (less than) CLTV (less than or equal to) 100.000 5 377,674.33 2.76
- ---------------------------------------------------------------------------------------------------------
Total.................... 80 $ 13,659,115.27 100.00%
=========================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 24
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
10,000 (less than) Balance (less than or equal to) 15,000 1 15,000.00 0.11
25,000 (less than) Balance (less than or equal to) 30,000 1 28,700.00 0.21
30,000 (less than) Balance (less than or equal to) 35,000 2 65,890.16 0.48
40,000 (less than) Balance (less than or equal to) 45,000 2 87,439.69 0.64
45,000 (less than) Balance (less than or equal to) 50,000 5 241,993.82 1.77
55,000 (less than) Balance (less than or equal to) 60,000 3 172,727.56 1.26
60,000 (less than) Balance (less than or equal to) 65,000 6 373,005.31 2.73
65,000 (less than) Balance (less than or equal to) 70,000 3 205,432.72 1.50
70,000 (less than) Balance (less than or equal to) 75,000 5 368,568.74 2.70
75,000 (less than) Balance (less than or equal to) 80,000 2 160,000.00 1.17
80,000 (less than) Balance (less than or equal to) 85,000 1 83,250.00 0.61
85,000 (less than) Balance (less than or equal to) 90,000 2 180,000.00 1.32
90,000 (less than) Balance (less than or equal to) 95,000 1 94,000.00 0.69
95,000 (less than) Balance (less than or equal to) 100,000 3 300,000.00 2.20
100,000 (less than) Balance (less than or equal to) 105,000 1 104,000.00 0.76
105,000 (less than) Balance (less than or equal to) 110,000 1 110,000.00 0.81
110,000 (less than) Balance (less than or equal to) 115,000 4 457,430.11 3.35
120,000 (less than) Balance (less than or equal to) 125,000 1 120,140.00 0.88
125,000 (less than) Balance (less than or equal to) 130,000 1 129,000.00 0.94
130,000 (less than) Balance (less than or equal to) 135,000 1 130,422.36 0.95
135,000 (less than) Balance (less than or equal to) 140,000 1 140,000.00 1.02
140,000 (less than) Balance (less than or equal to) 145,000 1 145,000.00 1.06
145,000 (less than) Balance (less than or equal to) 150,000 4 599,308.86 4.39
150,000 (less than) Balance (less than or equal to) 200,000 1 165,000.00 1.21
200,000 (less than) Balance (less than or equal to) 250,000 2 500,000.00 3.66
250,000 (less than) Balance (less than or equal to) 300,000 11 3,051,376.04 22.34
300,000 (less than) Balance (less than or equal to) 350,000 6 1,978,429.90 14.48
350,000 (less than) Balance (less than or equal to) 400,000 3 1,133,000.00 8.29
400,000 (less than) Balance (less than or equal to) 450,000 3 1,295,000.00 9.48
550,000 (less than) Balance (less than or equal to) 600,000 1 575,000.00 4.21
600,000 (less than) Balance (less than or equal to) 650,000 1 650,000.00 4.76
- --------------------------------------------------------------------------------------------------------
Total.................... 80 $ 13,659,115.27 100.00%
========================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 25
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
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>
10,000 (less than) Balance (less than or equal to) 15,000 1 15,000.00 0.11
25,000 (less than) Balance (less than or equal to) 30,000 1 28,700.00 0.21
30,000 (less than) Balance (less than or equal to) 35,000 2 65,890.16 0.48
40,000 (less than) Balance (less than or equal to) 45,000 2 87,439.69 0.64
45,000 (less than) Balance (less than or equal to) 50,000 5 241,993.82 1.77
55,000 (less than) Balance (less than or equal to) 60,000 3 172,727.56 1.26
60,000 (less than) Balance (less than or equal to) 65,000 6 373,005.31 2.73
65,000 (less than) Balance (less than or equal to) 70,000 3 205,432.72 1.50
70,000 (less than) Balance (less than or equal to) 75,000 5 368,568.74 2.70
75,000 (less than) Balance (less than or equal to) 80,000 2 160,000.00 1.17
80,000 (less than) Balance (less than or equal to) 85,000 1 83,250.00 0.61
85,000 (less than) Balance (less than or equal to) 90,000 2 180,000.00 1.32
90,000 (less than) Balance (less than or equal to) 95,000 1 94,000.00 0.69
95,000 (less than) Balance (less than or equal to) 100,000 3 300,000.00 2.20
100,000 (less than) Balance (less than or equal to) 105,000 1 104,000.00 0.76
105,000 (less than) Balance (less than or equal to) 110,000 1 110,000.00 0.81
110,000 (less than) Balance (less than or equal to) 115,000 4 457,430.11 3.35
120,000 (less than) Balance (less than or equal to) 125,000 1 120,140.00 0.88
125,000 (less than) Balance (less than or equal to) 130,000 1 129,000.00 0.94
130,000 (less than) Balance (less than or equal to) 135,000 1 130,422.36 0.95
135,000 (less than) Balance (less than or equal to) 140,000 1 140,000.00 1.02
140,000 (less than) Balance (less than or equal to) 145,000 1 145,000.00 1.06
145,000 (less than) Balance (less than or equal to) 150,000 4 599,308.86 4.39
150,000 (less than) Balance (less than or equal to) 200,000 1 165,000.00 1.21
200,000 (less than) Balance (less than or equal to) 250,000 2 500,000.00 3.66
250,000 (less than) Balance (less than or equal to) 300,000 11 3,051,376.04 22.34
300,000 (less than) Balance (less than or equal to) 350,000 6 1,978,429.90 14.48
350,000 (less than) Balance (less than or equal to) 400,000 3 1,133,000.00 8.29
400,000 (less than) Balance (less than or equal to) 450,000 3 1,295,000.00 9.48
550,000 (less than) Balance (less than or equal to) 600,000 1 575,000.00 4.21
600,000 (less than) Balance (less than or equal to) 650,000 1 650,000.00 4.76
- --------------------------------------------------------------------------------------------------------
Total.................... 80 $ 13,659,115.27 100.00%
========================================================================================================
</TABLE>
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 26
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
Connecticut 2 712,600.00 5.22
Florida 2 285,200.00 2.09
Georgia 5 1,152,400.00 8.44
Illinois 6 735,890.16 5.39
Maryland 1 100,000.00 0.73
Massachusetts 1 100,000.00 0.73
Michigan 2 161,417.12 1.18
New Jersey 19 2,895,490.49 21.20
New York 25 3,826,462.42 28.01
Ohio 5 1,395,422.36 10.22
Pennsylvania 4 956,000.00 7.00
Vermont 1 150,000.00 1.10
Virginia 6 906,032.72 6.63
Wisconsin 1 282,200.00 2.07
- --------------------------------------------------------------------------
Total............... 80 $ 13,659,115.27 100.00%
==========================================================================
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 27
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Mixed Use 6 1,625,000.00 11.90
PUD 2 350,500.00 2.57
Commercial 3 1,009,000.00 7.39
Townhouses 4 600,627.56 4.40
2-4 Family 11 1,482,395.28 10.85
Condominiums 1 150,000.00 1.10
Single Family Detached 52 8,041,592.43 58.87
5+ Family 1 400,000.00 2.93
- --------------------------------------------------------------------------
Total............... 80 $ 13,659,115.27 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 67 10,300,115.27 75.41
Investor 3 650,000.00 4.76
Vacation/Second Home 1 75,000.00 0.55
Business 9 2,634,000.00 19.28
- --------------------------------------------------------------------------
Total.................. 80 $ 13,659,115.27 100.00%
==========================================================================
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 28
<PAGE>
ABFS Mortgage Loan Trust 2000-1
Mortgage-Backed Notes, Series 2000-1
$ [235,000,000]
- --------------------------------------------------------------------------------
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 22 7,632,805.94 55.88
2 58 6,026,309.33 44.12
- --------------------------------------------------------------------------
Total............... 80 $ 13,659,115.27 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Amortization Loans Balance Balance
Fully Amortizing 44 5,315,617.08 38.92
Partially Amortizing 36 8,343,498.19 61.08
- --------------------------------------------------------------------------
Total.................. 80 $ 13,659,115.27 100.00%
==========================================================================
THIS TERMSHEET SUPERSEDES ANY PREVIOUS TERMSHEETS, AND WILL BE SUPERSEDED BY THE
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.
[GRAPHIC OMITTED] PRUDENTIAL
SECURITIES
PAGE 29
