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) June 23, 1997
The Originators as listed below under a Pooling and Servicing Agreement dated
as of May 31, 1997 providing for the issuance of The Money Store Home
Improvement Loan Certificates, Series 1997-II.
TMS Mortgage Inc.
The Money Store/D.C. Inc.
The Money Store/Kentucky Inc.
The Money Home Equity Corp.
The Money Store/Minnesota Inc.
(Exact name of registrant as specified in its charter)
* 333-20817 *
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) ID Number)
2840 MORRIS AVENUE, UNION, NEW JERSEY 07083
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (908) 686-2000
N/A
(Former name or former address, if changed since last report)
* See Schedule A attached hereto.
<PAGE>
Item 5. OTHER EVENTS
This Current Report on Form 8-K is being filed to file a copy of the
Computational Materials (as defined below) of Lehman Brothers Inc. and
Prudential Securities, Inc. in connection with the issuance by TMS Mortgage
Inc., The Money Store/D.C Inc., The Money Store/Kentucky Inc., The Money Store
Home Equity Corp. and The Money Store/Minnesota Inc., of The Money Store Home
Improvement Loan Certificates, Series 1997-II. The term "Computational
Materials" shall have the meaning given in the No-Action Letter of May 20, 1994
issued by the Securities and Exchange Commission (the "SEC") to Kidder, Peabody
Acceptance Corporation I, Kidder, Peabody & Co. Incorporated and Kidder
Structured Asset Corporation, as made applicable to other issuers and
underwriters by the Commission in response to the request of the Public
Securities Association dated May 24, 1994, and the supplemented in the No-Action
Letter of February 17, 1995 issued by the SEC to the Public Securities
Association.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS
EXHIBIT NO. 99.1 Computational Materials of Lehman Brothers Inc.
EXHIBIT NO. 99.2 Computational Materials of Prudential Securities
Inc.
<PAGE>
SIGNATURES
Pursuant to the requirements 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.
The Money Store/Minnesota Inc.
The Money Store/D.C. Inc.
The Money Store/Kentucky Inc.
The Money Store Home Equity Corp.
TMS Mortgage Inc.
By:/S/HARRY PUGLISI
Name: Harry Puglisi
Title: Treasurer
Dated: June 25, 1997
<PAGE>
Schedule A
State of IRS Employer
REGISTRANT INCORPORATION ID NUMBER
TMS Mortgage Inc. New Jersey 22-3217781
The Money Store/D.C. Inc. D.C. 22-2133027
The Money Store/Kentucky Inc. Kentucky 22-2459832
The Money Store/Home Equity Corp. Kentucky 22-2522232
The Money Store/Minnesota Inc. Minnesota 22-3003495
<PAGE>
EXHIBIT INDEX
EXHIBIT DESCRIPTION OF EXHIBIT
99.1 Computational Materials of Lehman Brothers Inc.
99.2 Computational Materials of Prudential Securities Inc.
LEHMAN BROTHERS
DERIVED INFORMATION
$250,000,000 Certificates
THE MONEY STORE HOME IMPROVEMENT TRUST 1997-II
The Money Store, Inc.
as Servicer
- -------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
LEHMAN BROTHERS
<TABLE>
<CAPTION>
SECURITIES OFFERED:
TO MATURITY:
- -----------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Pmt. Expected Stated Expected
Approx. Expecte WAL/MDUR Window Final Final Ratings
Securities Size Benchmark Price (yrs) (months) Maturity Maturity Moody's/S&P
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-1 (1) $94,900,000 1 Yr Tsy 100.00% 1.00/0.93 1- 25 7/15/99 7/15/08 Aaa/AAA
Class A-2 (1) 61,800,000 3 Yr Tsy 100.00% 3.00/2.62 25 - 51 9/15/01 10/15/13 Aaa/AAA
Class A-3 (1) 27,675,000 5 Yr Tsy 100.00% 5.14/4.19 51 - 74 8/15/03 3/15/16 Aaa/AAA
Class M-1 (1) 33,125,000 Curve 100.00% 7.91/5.81 74 - 124 10/15/07 2/15/20 Aa2/AA
Class M-2 (1) 18,750,000 10 Yr Tsy 100.00% 13.45/7.95 124 - 235 1/15/17 8/15/28 A2/A
Class B (1) 13,750,000 Curve 100.00% 7.66/5.35 44 - 235 1/15/17 8/15/28 Baa2/BBB
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
TO 10% CALL:
- ----------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Pmt. Expected Stated Expected
Approx. Expected WAL/MDUR Window Final Final Ratings
Securities Size Benchmark Price (yrs) (months) Maturity Maturity Moody's/S&P
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Class M-2 (1) 18,750,000 10 Yr Tsy 100.00% 10.30/6.82 124 - 124 10/15/07 8/15/28 A2/A
Class B (1) 13,750,000 Curve 100.00% 7.02/5.11 44 - 124 10/15/07 8/15/28 Baa2/BBB
- ----------------------------------------------------------------------------------------------------------------------------------
(1) Prepayments are 1.7% CPR in month one increasing by 1.7% CPR each
month \ to 17% CPR by month 10, remaining at 17% CPR subsequent to
month 10.
</TABLE>
- -------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
LEHMAN BROTHERS
SENSITIVITY ANALYSIS
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
% of Prepayment Assumption 0.0% 50.0% 76.5% 100.0% 123.5% 150.0% 200.0%
Implied Seasoned CPR 0.0% 8.5% 13.0% 17.0% 21.0% 25.5% 34.0%
CLASS A-1
Avg. Life (yrs) 4.49 1.56 1.19 1.00 0.87 0.78 0.65
Mod Duration (yrs) 3.58 1.42 1.10 0.93 0.82 0.73 0.62
Window (begin-end)(mths) 1-111 1-42 1-31 1-25 1-21 1-18 1-1
Expected Final Maturity 9/15/06 12/15/00 1/15/00 7/15/99 3/15/99 12/15/98 8/15/98
Yield @ 100.000% 6.43 6.32 6.27 6.23 6.19 6.16 6.09
CLASS A-2
Avg. Life (yrs) 12.10 5.13 3.74 3.00 2.49 2.09 1.61
Mod Duration (yrs) 8.04 4.19 3.20 2.62 2.22 1.88 1.48
Window (begin-end)(mths) 111-176 42-87 31-64 25-51 21-43 18-35 14-26
Expected Final Maturity 2/15/12 9/15/04 10/15/02 9/15/01 1/15/01 5/15/00 8/15/99
Yield @ 100.000% 6.68 6.65 6.63 6.61 6.60 6.58 6.54
CLASS A-3
Avg. Life (yrs) 16.38 8.53 6.41 5.14 4.26 3.47 2.50
Mod Duration (yrs) 9.54 6.25 5.01 4.19 3.57 2.99 2.22
Window (begin-end)(mths) 176-216 87-121 64-92 51-74 43-62 35-50 26-36
Expected Final Maturity 6/15/15 7/15/07 2/15/05 8/15/03 8/15/02 8/15/01 6/15/00
Yield @ 100.000% 6.91 6.90 6.89 6.88 6.86 6.85 6.82
CLASS M-1
Avg. Life (yrs) 19.65 12.52 9.70 7.91 6.61 5.44 3.91
Mod Duration (yrs) 10.19 7.96 6.73 5.81 5.07 4.34 3.28
Window (begin-end)(mths) 216-266 121-187 92-151 74-124 62-104 50-87 36-63
Expected Final Maturity 8/15/19 1/15/13 1/15/10 10/15/07 2/15/06 9/15/04 9/15/02
Yield @ 100.000% 7.25 7.24 7.24 7.23 7.22 7.21 7.19
CLASS M-2
Avg. Life (yrs) 23.59 18.76 15.78 13.45 11.49 9.67 7.16
Mod Duration (yrs) 10.38 9.44 8.68 7.95 7.23 6.47 5.23
Window (begin-end)(mths) 266-298 187-287 151-265 124-235 104-212 87-183 63-142
Expected Final Maturity 4/15/22 5/15/21 7/15/19 1/15/17 2/15/15 9/15/12 4/15/09
Yield @ 100.000% 7.94 7.94 7.93 7.93 7.93 7.92 7.91
</TABLE>
- -------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
LEHMAN BROTHERS
SENSITIVITY ANALYSIS (CONTINUED)
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
<TABLE>
<CAPTION>
TO MATURITY
<S> <C> <C> <C> <C> <C> <C> <C>
% of Prepayment Assumption 0.0% 50.0% 76.5% 100.0% 123.5% 150.0% 200.0%
Implied Seasoned CPR 0.0% 8.5% 13.0% 17.0% 21.0% 25.5% 34.0%
CLASS B
Avg. Life (yrs) 18.67 11.76 9.24 7.66 6.47 5.89 5.12
Mod Duration (yrs) 9.45 7.19 6.11 5.35 4.72 4.42 4.00
Window (begin-end)(mths) 163-298 74-287 54-265 44-235 37-212 37-183 37-142
Expected Final Maturity 4/15/22 5/15/21 7/15/19 1/15/17 2/15/15 9/15/12 4/15/09
Yield @ 100.000% 7.82 7.81 7.81 7.80 7.79 7.79 7.78
</TABLE>
<TABLE>
<CAPTION>
TO 10% CLEANUP CALL
<S> <C> <C> <C> <C> <C> <C> <C>
% of Prepayment Assumption 0.0% 50.0% 76.5% 100.0% 123.5% 150.0% 200.0%
Implied Seasoned CPR 0.0% 8.5% 13.0% 17.0% 21.0% 25.5% 34.0%
CLASS M-2
Avg. Life (yrs) 22.13 15.55 12.55 10.30 8.63 7.30 5.45
Mod Duration (yrs) 10.15 8.67 7.70 6.82 6.05 5.36 4.28
Window (begin-end)(mths) 266-266 187-187 151-151 124-124 104-104 87-88 63-66
Expected Final Maturity 8/15/19 1/15/13 1/15/10 10/15/07 2/15/06 10/15/04 12/15/02
Yield @ 100.000% 7.94 7.93 7.93 7.93 7.92 7.91 7.90
CLASS B
Avg. Life (yrs) 18.37 11.11 8.59 7.02 5.88 5.30 4.50
Mod Duration (yrs) 9.40 7.03 5.91 5.11 4.47 4.14 3.64
Window (begin-end)(mths) 163-266 74-187 54-151 44-124 37-104 37-88 37-66
Expected Final Maturity 8/15/19 1/15/13 1/15/10 10/15/07 2/15/06 10/15/04 12/15/02
Yield @ 100.000% 7.82 7.81 7.81 7.80 7.79 7.78 7.77
</TABLE>
- -------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
COLLATERAL SUMMARY
Collateral statistics for the Sample Loans are listed below as of the Cut-off
Date.
TOTAL NUMBER OF LOANS 5,836
TOTAL OUTSTANDING LOAN BALANCE $112,962,013.94
BALLOON (% OF TOTAL) 0.02%
LEVEL PAY (% OF TOTAL) 99.98%
AVERAGE LOAN PRINCIPAL BALANCE $19,356.07
WEIGHTED AVERAGE COUPON 12.60%
WEIGHTED AVERAGE ORIGINAL TERM (MTHS) 230
RANGE OF ORIGINAL TERMS 1 - 60: 1.52%
61 - 120: 11.07%
121 - 180: 21.49%
181 - 240: 32.65%
241 - 300: 33.26%
WEIGHTED AVERAGE REMAINING TERM (MTHS) 229
LIEN POSITION (FIRST/SECOND/THIRD) .00% / 81.80% / 18.19%
PROPERTY TYPE
SINGLE FAMILY 97.21%
2-4 FAMILY 1.12%
TOWNHOUSE 0.05%
OTHER 1.62%
OCCUPANCY STATUS
OWNER OCCUPIED 99.09%
INVESTMENT/SECOND HOME 0.91%
GEOGRAPHIC DISTRIBUTION
other states account individually for less than
5% of principal balance CA: 41.52%
NV: 5.94%
PRODUCT TYPE
FHA INSURED HOME IMPROVEMENTS 15.56%
CONVENTIONAL HOME IMPROVEMENTS 84.44%
DELINQUENCY
CURRENT 99.15%
30 - 59 DAYS 0.85%
- -------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
PRUDENTIAL SECURITIES INC.
Preliminary Information for The Money Store Home Improvement Trust 1997-II
- The Money Store Inc.
Seller and Servicer
- The Money Store Home Improvement Trust 1997-II
[$94,900,000] Class A-1 Certificates [ %]
[$61,800,000] Class A-2 Certificates [ %]
[$27,675,000] Class A-3 Certificates [ %]
[$33,125,000] Class M-1 Certificates [ %]
[$18,750,000] Class M-2 Certificates [ %]
[$13,750,000] Class B Certificates [ %]
The analysis in this report is accurate to the best of PSI's knowledge and is
based on information provided by the Seller and Lehman Brothers. PSI makes no
representations as to the accuracy of such information provided to it by the
Seller and Lehman Brothers. All assumptions and information in this report
reflect PSI's judgment as of this date and are subject to change. All analyses
are based on certain assumptions noted herein and different assumptions could
yield substantially different results. You are cautioned that there is no
universally accepted method for analyzing financial instruments. You should
review the assumptions; there may be differences between these assumptions and
your actual business practices. Further, PSI does not guarantee any results and
there is no guarantee as to the liquidity of the instruments involved in this
analysis. The decision to adopt any strategy remains your responsibility. PSI
(or any of its affiliates) or their officers, directors, analysts or employees
may have positions in securities, commodities or derivative instruments thereon
referred to here, and may, as principal or agent, buy or sell such securities,
commodities or derivative instruments. In addition, PSI may make a market in the
securities referred to herein. Neither the information nor the assumptions
reflected herein shall be construed to be, or constitute, an offer to sell or
buy or a solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. No sale of any securities, commodities
or derivative instruments should be consumated without the purchaser first
having received a prospectus and, if required, prospectus supplement. Finally,
PSI has not addressed the legal, accounting and tax implications of the analysis
with respect to you, and PSI strongly urges you to seek advice from your
counsel, accountant and tax advisor.
<PAGE>
The Money Store Home Improvement Trust 1997-II
Title of Securities: The Money Store Home Improvement Loan Certificates,
Series 1997-II, (the "Certificates").
Description of
Transaction: The securities will be issued in six classes: Classes
A-1, A-2, A-3, M-1, M-2 and B. The Class A-1, A-2 and
A-3 Certificates (the "Class A Certificates") will be
rated "Aaa"/"AAA", the Class M-1 Certificates will be
rated "Aa2"/"AA", the Class M-2 Certificates will be
rated "A2"/"A",and the Class B Certificates will be
rated "Baa2"/"BBB" by Moody's Investors Service and
Standard & Poor's, respectively.
The Class A-1, A-2, A-3, M-1, M-2 and B Certificates are
backed by fixed-rate home improvement loans,
approximately [15.56%] of which are FHA Title I loans.
- -------------------------------------------------------------------------------
CERTIFICATE CLASSES A-1, A-2, A-3, M-1, M-2 and B (SUPPORTED BY TITLE I AND
CONVENTIONAL HOME IMPROVEMENT LOANS)
- -------------------------------------------------------------------------------
Dated Date: June 1, 1997
Prepayment Assumption: [17% HEP]--Actual prepayments may vary.
Class A-1 Class A-2 Class A-3
Approximate Size: [$94,900,000] [$61,800,000] [$27,675,000]
Rating: AAA/Aaa AAA/Aaa AAA/Aaa
Avg. Life to Maturity: (app.) [1.00] [3.00] [5.14]
Principal Window: [07/97-07/99] [07/99-09/01] [09/01-08/03]
Coupon: [ ---------------- TBA -------------------]
Coupon Day Count: 30/360 30/360 30/360
Stated Maturity:
Class M-1 Class M-2 Class B
Approximate Size: [$33,125,000] [$18,750,000] [$13,750,000]
Rating: AA/Aa2 A/A2 BBB/Baa2
Avg. Life to Maturity: (app.) [7.91] [13.45] [7.66]
Principal Window: [08/03-10/07] [10/07-01/17] [02/01-01/17]
Coupon: [ --------------- TBA ---------------------]
Coupon Day Count: 30/360 30/360 30/360
Stated Maturity:
- -------------------------------------------------------------------------------
Pricing Date: [June , 1997]
Settlement Date: [June 30, 1997]
Servicer: The Money Store Inc.
Servicing and
Contingency Fees: Each 25 basis points per annum (total fee of 50 bps per
annum).
Trustee: The Chase Manhattan Bank.
Custodian: First Bank N.A.
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding
business day, beginning on July 15, 1997.
Payment Delay: 14 days for all Certificate Classes.
Interest Accrual
Period: Interest will accrue from the 1st day of the preceeding
month until the 30th day of the preceeding month
for all Certificate Classes based on a 30/360 day
count.
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>
The Money Store Home Improvement Trust 1997-II
Credit Enhancement: 1) Subordination. Expected subordination levels
(subject to change):
Class A Certificates: Aaa/AAA - [26.25%]
Class M-1 Certificates: Aa2/AA - [13.0%]
Class M-2 Certificates: A2/A - [5.5%]
2) Overcollateralization.
3) Ongoing spread.
Subordination: Distributions of interest with respect to the Class B
Certificates will be subordinate to distributions of
interest with respect to the Class A, Class M-1 and
Class M-2 Certificates. Distributions of interest with
respect to the Class M-2 Certificates will be
subordinate to distributions of interest with respect
to the Class A and Class M-1 Certificates.
Distributions of interest with respect to the Class M-1
Certificates will be subordinate to distributions of
interest with respect to the Class A Certificates.
Similarly, distributions of principal with respect to
the Class B Certificates will be subordinate to
distributions of principal with respect to the Class A,
Class M-1 and Class M-2 Certificates. Distributions of
principal with respect to the Class M-2 Certificates
will be subordinate to distributions of principal with
respect to the Class A and Class M-1 Certificates.
Distributions of principal with respect to the Class
M-1 Certificates will be subordinate to distributions
of principal with respect to the Class A Certificates.
Overcollateralization: The subordination provisions of the Trust are intended
to provide for limited acceleration of the Certificates
relative to the amortization of the related collateral,
generally in the early months of the transaction. The
accelerated amortization is achieved by applying
certain excess interest collected on the collateral to
the payment of principal on the Certificates. This
acceleration feature is intended to create an amount
("Overcollateralization or O/C") resulting from, and
equal to, the excess of the aggregate principal
balances of the collateral over the principal balance
of the Certificates. Once the required O/C level is
reached, the acceleration feature will cease, unless
necessary to maintain the required level of O/C.
Excess spread will be used to build O/C to an initial
target of [TBD%] of the original principal balance.
After 30 months, the Spread Amount requirement will be
changed to the lesser of [TBD%] of the original
principal balance or [TBD%] of current principal
balance, subject to a floor of [TBD%] of original
principal balance.
Cash Flow Priorities: 1) Servicing and Trustee Fees;
2) Interest to Class A Certificates, without priority
among the Class A Certificates; 3) Interest to Class
M-1, Class M-2 and Class B Certificates in that order
of priority; 4) Principal to the Class A, Class M-1,
Class M-2 and Class B Certificates, generally in
that order of priority;
5) Interest Shortfall Carryforward plus interest
thereon to Class A Certificates;
6) Interest Shortfall Carryforward plus interest
thereon to Class M-1, Class M-2 and Class B, in that
order of priority;
7) Principal Shortfall Carryforward;
8) Repayment of any unreimbursed Servicer or Trustee
advances;
9) Paydown of Certificates to the required level of
Overcollateralization;
10) Any excess cash flow reverts to the Seller.
Optional Termination: The Servicer may repurchase the collateral and, as a
result, cause the Certificates to be called at par plus
accrued interest after the remaining balances of the
loans are less than 10% of the sum of the i) the
aggregate principal balances of the initial home
improvement loans as of the cut-off date and ii) the
original Pre-Funded Amount.
Prefunding Account: Approximately [25%] of the home improvement loan
collateral will be prefunded.
Form of Certificates: Book entry form, same day funds (through DTC, CEDEL or
Euroclear).
ERISA
Considerations: Only the Class A Certificates will be ERISA eligible.
The Class M-1, Class M-2 and Class B Certificates will
not be ERISA eligible.
Taxation: REMIC.
Legal Investment: The Certificates will not be SMMEA eligible.
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.
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>
- -------------------------------------------------------------------------------
- MONEY STORE 1997-B
- Cut Off Date of Tape is 5/31/97
- FIXED RATE SECURED HOME IMPROV. COLLATERAL
- $112,962,013.94
- -------------------------------------------------------------------------------
Number of Mortgage Loans: 5,836
Aggregate Unpaid Principal Balance: $112,962,013.94
Aggregate Original Principal Balance: $113,419,037.67
Weighted Average Gross Coupon: 12.602%
Gross Coupon Range: 5.370% - 16.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $19,356.07
Average Original Principal Balance: $19,434.38
Maximum Unpaid Principal Balance: $72,473.83
Minimum Unpaid Principal Balance: $1,490.00
Maximum Original Principal Balance: $73,218.82
Minimum Original Principal Balance: $1,490.00
Weighted Avg. Stated Rem. Term (PTD to Mat/Bln Date): 227.575
Stated Rem Term Range: 11.000 - 300.000
Weighted Average Age (First Pay thru Paid Thru Date): 2.454
Age Range: 0.000 - 27.000
Weighted Average Original Term (to Mat/Bln Date): 230.029
Original Term Range: 24.000 - 300.000
Weighted Average Original Term (to Mat/Amor. Date): 230.043
Original Term Range: 24.000 - 300.000
Weighted Average Combined LTV: 83.870%
Combined LTV Range: 0.010% - 100.000%
Weighted Average FICO Score: 635.765
FICO Score Range: 413.000 - 832.000
Weighted Average Debt to Income Ratio: 39.763%
Debt to Income Ratio Range: 0.400% - 144.600%
- --------------------------------------------------------------------------------
Lien Status: First Lien Loans : .00% (1 loan)
Second Lien Loans: 81.80%
Third Lien Loans : 18.20%
MAX ZIP CODE CONCENTRATION : .69% zip code = 89014 state = NV
EARLIEST FIRST PAYMENT DATE: 04/22/95
LATEST MATURITY DATE : 07/02/22
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>
GROSS COUPON
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
Gross # % Rem WA Orig Balance Current
Coupon Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
5.25% * Gross Coupon *= 5.50% 1 .01 5.370 166.00 14.00 97.29 $12,000 $11,029.07
7.75% * Gross Coupon *= 8.00% 3 .02 7.990 152.41 4.90 80.84 $10,900 $28,045.21
8.25% * Gross Coupon *= 8.50% 4 .03 8.500 147.53 4.96 80.54 $10,650 $37,264.25
8.50% * Gross Coupon *= 8.75% 1 .01 8.700 174.00 6.00 82.95 $8,800 $8,615.89
8.75% * Gross Coupon *= 9.00% 5 .07 8.990 212.95 4.41 88.88 $20,000 $77,554.98
9.25% * Gross Coupon *= 9.50% 2 .01 9.500 103.64 2.00 97.17 $8,481 $16,028.73
9.75% * Gross Coupon *= 10.00% 881 16.94 9.990 244.11 2.21 82.97 $50,000 $19,135,224.77
10.00% * Gross Coupon *= 10.25% 39 .35 10.250 143.33 2.53 79.49 $25,397 $394,588.86
10.25% * Gross Coupon *= 10.50% 266 5.75 10.494 258.16 2.31 83.39 $60,000 $6,497,725.53
10.50% * Gross Coupon *= 10.75% 7 .18 10.725 249.15 2.62 83.74 $50,000 $198,782.65
10.75% * Gross Coupon *= 11.00% 279 5.09 10.989 234.88 2.38 83.00 $50,125 $5,745,912.51
11.00% * Gross Coupon *= 11.25% 40 .82 11.245 257.73 1.86 86.68 $40,322 $928,778.36
11.25% * Gross Coupon *= 11.50% 83 1.89 11.499 253.37 2.67 84.55 $50,000 $2,133,783.56
11.50% * Gross Coupon *= 11.75% 38 .63 11.749 216.29 2.34 75.70 $50,000 $706,842.22
11.75% * Gross Coupon *= 12.00% 401 6.58 11.990 214.13 2.51 79.37 $60,000 $7,432,433.85
12.00% * Gross Coupon *= 12.25% 62 1.04 12.239 221.38 2.71 84.41 $40,110 $1,170,791.69
12.25% * Gross Coupon *= 12.50% 370 4.68 12.495 203.89 2.36 77.00 $73,219 $5,284,135.09
12.50% * Gross Coupon *= 12.75% 54 1.20 12.740 241.07 2.73 85.99 $50,000 $1,360,892.11
12.75% * Gross Coupon *= 13.00% 988 15.19 12.991 210.86 2.47 82.06 $59,826 $17,154,273.60
13.00% * Gross Coupon *= 13.25% 111 1.93 13.227 218.50 2.35 87.14 $51,441 $2,177,099.18
13.25% * Gross Coupon *= 13.50% 203 3.19 13.478 219.00 2.50 84.72 $50,000 $3,604,584.26
13.50% * Gross Coupon *= 13.75% 127 2.65 13.735 237.01 2.52 89.28 $50,490 $2,992,761.81
13.75% * Gross Coupon *= 14.00% 848 14.28 13.990 216.73 2.58 85.41 $50,000 $16,130,645.41
14.00% * Gross Coupon *= 14.25% 88 1.45 14.191 215.36 2.32 90.33 $60,000 $1,637,059.41
14.25% * Gross Coupon *= 14.50% 185 3.16 14.464 232.61 2.34 87.44 $50,000 $3,573,898.91
14.50% * Gross Coupon *= 14.75% 80 1.98 14.750 251.79 2.56 88.48 $50,000 $2,235,426.02
14.75% * Gross Coupon *= 15.00% 344 5.87 14.985 233.07 2.61 85.05 $50,000 $6,632,336.04
15.00% * Gross Coupon *= 15.25% 36 .94 15.240 269.57 2.56 88.74 $50,000 $1,060,987.07
15.25% * Gross Coupon *= 15.50% 49 .87 15.475 224.98 2.53 86.63 $50,000 $984,616.49
15.50% * Gross Coupon *= 15.75% 22 .51 15.731 266.64 2.64 90.36 $50,000 $574,803.35
15.75% * Gross Coupon *= 16.00% 216 2.66 15.969 211.15 2.99 83.96 $60,000 $3,001,107.28
16.75% * Gross Coupon *= 17.00% 3 .03 16.990 239.08 5.42 95.75 $25,000 $33,985.78
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</TABLE>
<TABLE>
<CAPTION>
ORIGINAL MATURITY
(Balloon Loans Shown to Balloon Maturity)
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
Original # % Rem WA Orig Loan Current
Maturity Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
20 * Original Maturity *= 30 8 .03 14.516 20.58 3.42 63.44 $14,000 $32,237.98
30 * Original Maturity *= 40 31 .11 13.187 33.03 2.97 68.48 $14,790 $125,545.92
40 * Original Maturity *= 50 27 .12 13.126 45.67 2.33 69.49 $14,345 $130,298.82
50 * Original Maturity *= 60 213 1.27 12.639 57.54 2.45 75.95 $41,835 $1,431,719.16
70 * Original Maturity *= 80 35 .21 13.544 69.24 2.76 77.54 $20,828 $238,324.93
80 * Original Maturity *= 90 189 1.23 13.148 81.60 2.42 76.58 $33,595 $1,384,614.45
90 * Original Maturity *= 100 88 .61 13.920 93.51 2.49 80.69 $50,000 $689,023.47
100 * Original Maturity *= 110 16 .12 13.822 105.54 2.46 81.91 $12,750 $131,513.52
110 * Original Maturity *= 120 915 8.91 12.731 117.64 2.34 79.10 $50,000 $10,066,018.68
140 * Original Maturity *= 150 54 .58 12.373 141.29 2.71 77.66 $25,500 $649,740.68
150 * Original Maturity *= 160 2 .02 13.628 154.58 1.42 83.82 $15,256 $26,257.74
160 * Original Maturity *= 170 2 .01 13.566 166.43 1.57 81.96 $8,664 $15,153.75
170 * Original Maturity *= 180 1,457 20.88 12.466 177.49 2.51 81.08 $50,000 $23,581,049.00
190 * Original Maturity *= 200 2 .05 13.228 188.76 3.24 77.18 $36,000 $61,106.19
200 * Original Maturity *= 210 1 .01 12.990 203.00 1.00 79.19 $13,184 $13,184.00
230 * Original Maturity *= 240 1,576 32.59 13.040 237.49 2.51 84.40 $60,000 $36,811,121.71
270 * Original Maturity *= 280 1 .04 11.750 277.00 3.00 61.89 $40,304 $40,225.23
290 * Original Maturity *= 300 1,219 33.23 12.163 297.61 2.39 86.78 $73,219 $37,534,878.71
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</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.
<PAGE>
<TABLE>
<CAPTION>
REMAINING TERM
(Balloon Loans Shown to Balloon Maturity)
(Rem Term Calculated From Scheduled Balance Date)
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Remaining Term Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 *= Rem Term *= 12 1 .00 14.990 11.00 25.00 74.09 $6,500 $2,488.23
12 * Rem Term *= 24 8 .03 14.516 20.58 3.42 63.44 $14,000 $32,237.98
24 * Rem Term *= 36 31 .11 13.176 33.46 3.27 68.34 $14,790 $126,925.37
36 * Rem Term *= 48 28 .12 13.222 45.58 2.82 70.48 $14,345 $134,820.81
48 * Rem Term *= 60 211 1.26 12.625 57.65 2.34 75.90 $41,835 $1,423,329.49
60 * Rem Term *= 72 35 .21 13.544 69.24 2.76 77.54 $20,828 $238,324.93
72 * Rem Term *= 84 188 1.22 13.168 81.56 2.42 76.47 $33,595 $1,376,944.51
84 * Rem Term *= 96 89 .62 13.872 93.45 2.49 80.87 $50,000 $696,693.41
96 * Rem Term *= 108 18 .13 13.746 105.10 3.99 78.29 $12,750 $144,679.66
108 * Rem Term *= 120 913 8.90 12.731 117.66 2.31 79.15 $50,000 $10,052,852.54
132 * Rem Term *= 144 54 .58 12.373 141.29 2.71 77.66 $25,500 $649,740.68
144 * Rem Term *= 156 2 .02 13.628 154.58 1.42 83.82 $15,256 $26,257.74
156 * Rem Term *= 168 8 .11 12.951 165.38 13.11 69.75 $29,945 $119,712.61
168 * Rem Term *= 180 1,451 20.78 12.464 177.54 2.46 81.14 $50,000 $23,476,490.14
180 * Rem Term *= 192 2 .05 13.228 188.76 3.24 77.18 $36,000 $61,106.19
192 * Rem Term *= 204 1 .01 12.990 203.00 1.00 79.19 $13,184 $13,184.00
228 * Rem Term *= 240 1,576 32.59 13.040 237.49 2.51 84.40 $60,000 $36,811,121.71
276 * Rem Term *= 288 1 .04 11.750 277.00 3.00 61.89 $40,304 $40,225.23
288 * Rem Term *= 300 1,219 33.23 12.163 297.61 2.39 86.78 $73,219 $37,534,878.71
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</TABLE>
<TABLE>
<CAPTION>
LOAN AGE IN MONTHS
(Age Calculated From Scheduled Balance Date)
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Age of Loan Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
0 = Age 40 .34 13.763 151.62 .00 74.93 $34,126 $383,997.30
0 * Age *= 12 5,788 99.59 12.597 227.90 2.45 83.74 $73,219 $112,493,262.08
12 * Age *= 24 6 .07 13.101 145.79 17.21 49.09 $29,945 $78,398.65
24 * Age *= 36 2 .01 14.381 24.39 26.22 70.12 $6,500 $6,355.91
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</TABLE>
<TABLE>
<CAPTION>
ORIGINATION YEAR
- ------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
Year of # % Rem WA Orig Loan Current
Origination Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1995 4 .03 13.823 121.07 20.71 72.00 $20,215 $34,467.08
1996 407 5.60 13.371 205.64 5.32 79.99 $60,000 $6,322,512.29
1997 5,425 94.37 12.556 228.91 2.28 83.91 $73,219 $106,605,034.57
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
</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.
<PAGE>
<TABLE>
<CAPTION>
ACTUAL NEXT PAYMENT DUE DATE
- -------------------------------------------------------------------------------------------------------------------
Next WA WA Max. Orig Total
Due # % Rem WA Orig Loan Current
Date Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
04/03/97 2 .03 13.673 217.31 3.68 77.90 $19,993 $29,261.48
04/04/97 3 .04 14.044 180.12 6.43 92.71 $24,889 $44,876.09
04/06/97 2 .03 13.387 225.17 3.40 67.30 $20,100 $33,325.00
04/07/97 1 .01 15.980 80.00 4.00 84.76 $5,976 $5,976.00
04/10/97 5 .09 14.180 193.90 3.76 89.56 $25,000 $96,197.63
04/12/97 1 .01 13.990 117.00 3.00 91.83 $7,617 $7,617.00
04/14/97 2 .01 15.680 77.60 3.59 82.66 $7,100 $11,929.37
04/15/97 5 .05 12.795 188.56 5.58 77.76 $27,594 $52,398.06
04/16/97 1 .02 14.980 236.00 4.00 96.57 $22,850 $22,849.91
04/17/97 5 .14 14.358 244.58 4.20 89.67 $49,980 $154,269.68
04/18/97 1 .01 14.990 177.00 3.00 83.11 $7,950 $7,950.00
04/19/97 3 .04 15.186 180.08 4.39 39.71 $17,500 $49,163.75
04/20/97 5 .07 14.287 199.22 4.35 87.62 $19,500 $76,094.57
04/21/97 8 .20 13.950 241.67 3.50 86.71 $50,000 $222,866.57
04/24/97 3 .05 14.190 190.50 4.64 85.77 $25,000 $55,272.82
04/25/97 7 .08 14.206 182.67 3.81 88.33 $25,000 $86,446.32
05/01/97 60 1.04 13.150 226.99 3.00 81.39 $50,000 $1,178,668.63
05/02/97 11 .12 12.670 175.06 2.00 71.15 $25,000 $131,961.75
05/03/97 12 .16 13.540 232.65 2.22 83.10 $41,620 $178,788.02
05/04/97 8 .13 13.482 234.57 2.68 88.54 $34,750 $144,427.72
05/05/97 9 .15 12.889 235.45 3.48 85.22 $39,966 $168,018.67
05/06/97 5 .07 14.171 222.09 3.45 83.33 $40,000 $75,007.73
05/07/97 11 .18 13.626 230.99 3.75 84.66 $50,000 $200,750.37
05/08/97 9 .21 13.523 235.84 2.42 73.66 $50,000 $239,563.21
05/09/97 14 .31 12.725 228.71 2.03 75.05 $60,000 $345,066.69
05/10/97 15 .29 13.630 246.67 2.92 84.43 $50,000 $327,630.63
05/11/97 20 .28 13.022 196.56 2.82 85.15 $32,100 $312,227.92
05/12/97 18 .33 13.372 218.39 3.22 87.94 $35,000 $372,237.07
05/13/97 13 .24 13.661 212.22 2.88 83.32 $48,000 $266,887.89
05/14/97 29 .53 12.530 210.65 2.55 83.98 $50,000 $602,522.58
05/15/97 29 .65 13.028 251.97 2.20 84.64 $50,000 $735,283.41
05/16/97 26 .42 12.281 231.14 2.52 77.29 $40,364 $469,314.12
05/17/97 24 .37 13.122 223.03 3.46 80.44 $59,826 $421,354.38
05/18/97 31 .47 12.594 199.45 2.34 86.47 $40,321 $533,210.46
05/19/97 15 .24 13.108 221.70 3.14 85.05 $39,941 $267,616.94
05/20/97 18 .25 13.641 211.54 4.18 80.48 $50,000 $284,160.82
05/21/97 35 .43 13.060 197.40 2.54 82.60 $50,000 $484,811.48
05/22/97 28 .52 12.732 248.48 2.35 85.29 $50,000 $586,064.93
05/23/97 35 .49 13.161 210.79 2.19 81.79 $40,000 $558,918.36
05/24/97 48 .90 13.062 240.48 2.56 83.10 $50,000 $1,015,188.01
05/25/97 63 1.06 13.290 215.49 2.69 87.90 $50,000 $1,201,954.56
06/01/97 427 7.31 12.725 233.54 2.04 82.58 $50,490 $8,258,796.26
06/02/97 89 1.57 12.617 232.03 1.94 85.57 $50,000 $1,773,883.72
06/03/97 66 1.04 12.566 218.09 2.84 78.94 $60,000 $1,175,237.46
06/04/97 67 1.17 12.800 226.17 2.61 83.24 $50,000 $1,322,909.57
06/05/97 123 1.95 12.938 219.91 2.16 78.39 $50,000 $2,206,887.48
06/06/97 106 1.79 12.014 231.31 2.04 83.95 $50,000 $2,023,184.17
06/07/97 152 2.73 12.277 230.57 2.03 84.47 $50,000 $3,082,114.49
06/08/97 115 2.16 12.526 235.89 1.88 85.66 $50,000 $2,443,033.27
06/09/97 131 2.06 12.487 206.79 1.86 83.22 $50,000 $2,327,946.52
06/10/97 167 2.93 12.411 232.64 2.60 83.96 $60,000 $3,313,187.43
06/11/97 155 2.80 12.559 223.49 2.70 80.69 $60,000 $3,160,495.97
06/12/97 98 1.72 12.321 237.22 2.82 86.04 $50,000 $1,941,011.07
06/13/97 108 1.83 12.780 227.87 2.89 84.32 $50,000 $2,068,811.23
06/14/97 153 2.67 12.606 229.49 2.53 83.13 $50,000 $3,010,556.82
06/15/97 138 2.36 12.753 224.45 2.34 83.41 $50,000 $2,666,614.41
06/16/97 114 1.77 12.542 214.26 2.32 82.76 $48,388 $1,995,864.83
06/17/97 145 2.53 12.287 229.53 2.52 85.55 $50,000 $2,853,267.32
06/18/97 144 2.45 12.416 232.34 2.45 83.69 $50,000 $2,762,355.61
06/19/97 101 2.00 12.524 235.18 3.20 83.35 $60,000 $2,263,344.26
06/20/97 133 2.27 12.436 234.26 3.47 82.83 $50,000 $2,563,175.87
06/21/97 181 3.35 12.740 234.17 2.61 86.46 $53,517 $3,788,236.18
06/22/97 106 1.79 12.694 225.51 2.40 83.69 $50,000 $2,018,980.57
06/23/97 125 1.95 12.713 215.67 2.34 80.98 $50,125 $2,200,565.09
06/24/97 168 3.22 12.357 228.46 2.68 84.92 $50,000 $3,633,182.08
06/25/97 170 2.90 12.968 219.61 2.82 86.04 $50,000 $3,280,366.71
06/26/97 1 .02 13.375 235.00 5.00 88.83 $25,000 $24,885.92
06/28/97 1 .01 13.990 178.00 2.00 91.95 $16,000 $15,971.01
07/01/97 737 12.82 12.600 230.47 2.27 84.19 $73,219 $14,484,244.78
07/02/97 85 1.61 12.253 229.17 1.62 85.32 $50,000 $1,817,683.77
07/03/97 63 1.16 12.604 235.23 2.24 85.22 $50,000 $1,311,166.87
07/04/97 74 1.27 12.677 226.56 2.49 84.12 $50,000 $1,435,439.34
07/05/97 96 1.53 12.341 217.16 2.38 81.65 $55,803 $1,732,164.41
07/06/97 65 1.12 12.207 226.26 2.03 88.29 $50,000 $1,263,770.61
07/07/97 87 1.48 12.086 225.98 2.17 85.31 $50,000 $1,674,832.18
07/08/97 48 .79 12.829 229.32 1.81 81.51 $50,000 $891,709.12
07/09/97 27 .48 12.271 241.93 2.23 80.22 $50,000 $547,097.05
07/10/97 56 .98 12.076 230.23 2.69 82.59 $50,000 $1,108,799.07
07/11/97 38 .70 11.576 242.11 2.54 84.37 $42,000 $790,585.57
07/12/97 30 .48 12.029 232.17 3.08 89.32 $41,602 $545,865.30
07/13/97 18 .37 12.401 274.04 3.06 84.93 $40,110 $420,804.12
07/14/97 24 .46 12.822 230.02 2.43 86.95 $50,000 $523,028.11
07/15/97 24 .38 13.364 209.84 3.30 88.29 $43,165 $431,093.91
07/16/97 13 .19 12.400 197.50 2.38 68.81 $39,597 $212,101.37
07/17/97 16 .21 11.074 203.16 2.94 74.99 $40,256 $242,017.70
07/18/97 30 .48 12.185 214.27 2.64 81.29 $42,000 $541,704.10
07/19/97 13 .19 12.516 224.38 3.13 82.20 $27,700 $212,647.76
07/20/97 15 .22 12.529 213.05 3.82 82.55 $50,000 $248,400.19
07/21/97 9 .14 13.511 229.02 2.73 87.90 $50,000 $158,147.46
07/22/97 9 .20 11.961 255.54 1.87 87.27 $50,489 $227,511.06
07/23/97 3 .05 13.478 226.11 7.40 65.27 $34,856 $53,520.62
07/24/97 7 .12 13.638 220.61 2.52 83.22 $35,225 $137,965.92
07/25/97 13 .21 13.070 221.91 2.95 85.79 $38,000 $235,948.26
08/01/97 54 .67 12.159 205.74 2.08 82.38 $50,000 $761,149.72
08/02/97 8 .08 12.667 191.62 .85 77.34 $21,088 $94,454.84
08/03/97 6 .07 9.891 203.50 3.08 81.37 $25,235 $74,205.55
08/04/97 2 .01 11.127 125.43 3.00 47.20 $8,500 $13,651.73
08/05/97 3 .05 14.406 244.31 2.02 76.77 $35,000 $55,829.28
08/07/97 2 .03 12.372 272.14 3.60 72.64 $20,000 $32,630.63
08/08/97 4 .03 12.664 185.35 2.02 67.22 $13,600 $32,693.19
08/09/97 3 .04 12.330 238.00 2.00 84.07 $25,000 $48,150.58
08/10/97 3 .05 10.264 217.99 3.59 77.59 $29,664 $54,365.46
08/11/97 2 .02 10.994 252.12 2.75 78.48 $15,356 $20,367.97
08/12/97 2 .03 10.827 196.58 3.00 89.93 $20,946 $30,175.63
08/13/97 1 .01 12.990 177.00 3.00 91.03 $12,200 $11,225.95
08/14/97 2 .01 11.672 148.68 2.66 81.50 $11,227 $16,602.93
08/15/97 1 .01 13.990 178.00 2.00 89.21 $6,800 $6,217.28
08/16/97 1 .01 15.750 178.00 2.00 64.33 $12,752 $12,732.01
08/17/97 3 .04 13.203 223.28 2.43 95.29 $20,000 $43,971.07
08/18/97 1 .03 10.990 238.00 2.00 72.57 $35,310 $35,310.00
08/19/97 1 .01 12.500 237.00 3.00 92.98 $10,530 $10,160.32
08/20/97 1 .01 11.250 117.00 3.00 74.37 $12,293 $11,848.73
08/21/97 1 .02 14.990 238.00 2.00 83.03 $25,000 $24,382.59
08/25/97 1 .01 10.990 298.00 2.00 30.66 $17,997 $11,170.40
09/01/97 3 .01 13.032 87.19 3.29 45.31 $7,433 $14,187.68
09/02/97 1 .01 13.500 58.00 2.00 77.62 $8,432 $7,984.34
09/03/97 1 .00 11.990 93.00 3.00 47.07 $5,620 $5,203.48
09/04/97 1 .01 12.990 176.00 4.00 87.06 $10,000 $9,722.21
09/05/97 1 .01 9.990 239.00 1.00 94.96 $12,675 $12,675.00
09/10/97 1 .00 13.690 84.00 .00 74.91 $4,700 $4,700.00
10/03/97 1 .00 14.500 84.00 .00 99.85 $3,425 $3,424.62
05/03/98 1 .02 9.990 297.00 3.00 83.30 $24,025 $21,576.18
- ---------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
ORIGINAL LTV RANGE
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
CLTV # % Rem WA Orig Loan Current
RANGE Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
0.000 * CLTV *= 5.000 3 .04 11.525 147.85 2.92 .06 $25,397 $49,320.91
5.000 * CLTV *= 10.000 9 .07 11.976 144.01 2.03 7.77 $21,500 $80,932.45
10.000 * CLTV *= 15.000 17 .16 12.862 169.84 2.01 11.92 $30,000 $183,963.08
15.000 * CLTV *= 20.000 27 .28 12.536 182.35 3.01 17.52 $43,365 $311,271.93
20.000 * CLTV *= 25.000 41 .50 12.639 189.01 2.79 22.33 $39,967 $566,650.03
25.000 * CLTV *= 30.000 59 .66 12.354 192.06 2.31 27.86 $50,000 $745,379.98
30.000 * CLTV *= 35.000 31 .40 12.404 198.01 2.97 31.94 $60,000 $446,500.56
35.000 * CLTV *= 40.000 56 .72 12.508 205.91 2.50 37.48 $50,000 $814,306.43
40.000 * CLTV *= 45.000 69 .90 12.541 200.68 2.40 42.30 $50,000 $1,020,590.45
45.000 * CLTV *= 50.000 77 1.00 12.538 200.43 2.13 47.44 $73,219 $1,130,369.76
50.000 * CLTV *= 55.000 94 1.30 12.201 200.79 2.50 52.45 $47,015 $1,474,037.06
55.000 * CLTV *= 60.000 136 1.69 12.589 192.75 2.40 57.47 $60,000 $1,907,153.85
60.000 * CLTV *= 65.000 161 2.32 12.494 213.73 2.25 62.64 $60,000 $2,618,095.27
65.000 * CLTV *= 70.000 230 3.69 12.274 215.36 2.33 67.54 $60,000 $4,171,501.04
70.000 * CLTV *= 75.000 376 6.13 12.328 216.99 2.38 72.61 $60,000 $6,924,672.07
75.000 * CLTV *= 80.000 571 9.05 12.181 219.22 2.36 77.75 $51,441 $10,226,591.64
80.000 * CLTV *= 85.000 703 12.62 12.426 233.04 2.41 82.60 $50,490 $14,261,117.30
85.000 * CLTV *= 90.000 835 14.76 12.659 232.06 2.47 87.57 $50,000 $16,670,977.97
90.000 * CLTV *= 95.000 949 16.95 12.616 230.50 2.51 92.41 $50,489 $19,146,213.60
95.000 * CLTV *= 100.000 1,376 26.53 12.935 238.55 2.50 97.86 $50,125 $29,967,757.87
CLTV not available 16 .22 13.841 173.93 5.70 .00 $29,945 $244,610.69
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</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.
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL MORTGAGE AMOUNT
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
Original # % Rem WA Orig Loan Current
Mortgage Amt. Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
0 * Balance *= 25,000 4,388 54.65 12.741 199.01 2.48 81.73 $25,000 $61,733,086.64
25,000 * Balance *= 50,000 1,435 44.69 12.424 261.96 2.42 86.34 $50,000 $50,486,617.85
50,000 * Balance *= 75,000 13 .66 13.078 263.99 2.95 66.63 $73,219 $742,309.45
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</TABLE>
<TABLE>
<CAPTION>
CURRENT MORTGAGE AMOUNT
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
Current # % Rem WA Orig Loan Current
Mortgage Amt. Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
0 * Balance *= 25,000 4,400 54.91 12.734 199.17 2.48 81.71 $25,300 $62,030,450.73
25,000 * Balance *= 50,000 1,423 44.43 12.431 262.14 2.41 86.38 $50,000 $50,189,253.76
50,000 * Balance *= 75,000 13 .66 13.078 263.99 2.95 66.63 $73,219 $742,309.45
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</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.
<PAGE>
<TABLE>
<CAPTION>
GEOGRAPHIC DISTRIBUTION
- ------------------------------------------------------------------------------------------------------------------------------------
Calc.
WA WA WA Min. Curr Max. Curr Total Avg.
# % Rem WA MIN MAX Orig Curr Loan Loan Current Curr
State Loans Pool WAC Term Age AGE AGE CLTV CLTV Amount Amount Balance Bal
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AR 100 1.17 11.192 184.17 2.30 1.00 5.00 77.79 77.47 $2,818 $42,452 $1,324,680 $13,247
AZ 245 4.30 11.571 234.83 2.26 .00 6.00 84.39 84.10 $4,856 $49,973 $4,853,939 $19,812
CA 1,873 41.52 12.462 255.55 2.46 .00 13.00 86.89 86.60 $2,959 $60,000 $46,897,493 $25,039
CO 65 .96 13.030 227.29 2.44 1.00 9.00 81.67 81.40 $4,227 $72,474 $1,086,943 $16,722
CT 21 .28 13.625 185.68 2.35 1.00 4.00 78.10 77.83 $6,528 $42,473 $321,707 $15,319
DC 2 .02 13.990 162.86 2.00 2.00 2.00 90.67 90.67 $5,400 $16,000 $21,400 $10,700
DE 13 .14 13.324 173.09 2.04 .00 4.00 85.13 84.93 $6,937 $21,000 $157,998 $12,154
FL 282 4.76 12.432 224.68 2.61 1.00 12.00 83.70 83.47 $2,691 $50,000 $5,373,370 $19,055
GA 224 4.08 12.924 213.31 2.46 .00 5.00 80.29 80.10 $2,977 $50,000 $4,608,990 $20,576
IA 38 .53 12.889 211.86 1.88 1.00 5.00 81.16 80.96 $4,028 $49,955 $595,702 $15,676
ID 34 .64 12.980 238.72 2.27 1.00 5.00 76.71 76.57 $5,080 $51,438 $720,573 $21,193
IL 312 4.41 13.596 195.83 2.48 .00 17.00 80.92 80.57 $1,778 $55,299 $4,985,791 $15,980
IN 66 .81 13.677 173.67 2.39 .00 6.00 80.60 80.09 $1,944 $41,900 $910,923 $13,802
KS 32 .49 12.082 196.80 2.26 1.00 6.00 78.16 77.87 $1,987 $40,307 $559,040 $17,470
KY 34 .39 14.115 177.45 2.99 1.00 8.00 80.45 80.01 $3,904 $48,847 $438,810 $12,906
LA 99 .97 12.633 170.88 3.05 1.00 25.00 75.34 74.73 $2,488 $39,554 $1,097,925 $11,090
MA 12 .29 14.591 230.67 2.68 2.00 5.00 81.05 80.89 $5,912 $59,902 $332,823 $27,735
MD 58 .67 13.821 186.04 2.48 1.00 7.00 85.22 84.87 $1,666 $40,000 $761,088 $13,122
ME 6 .08 13.923 189.66 2.09 1.00 3.00 77.27 76.92 $5,476 $24,871 $89,097 $14,849
MI 69 .84 13.635 194.87 1.90 .00 4.00 82.03 81.60 $2,241 $37,973 $951,040 $13,783
MN 78 1.04 13.405 203.96 2.19 .00 5.00 80.28 79.90 $2,429 $34,995 $1,170,006 $15,000
MO 73 .88 13.637 190.57 2.11 .00 5.00 77.91 77.67 $1,704 $39,606 $992,285 $13,593
MS 77 .85 12.784 173.43 2.67 1.00 6.00 74.26 73.94 $3,380 $34,983 $963,997 $12,519
NC 59 .71 12.975 202.94 2.65 1.00 7.00 75.22 74.81 $4,383 $49,781 $803,539 $13,619
NE 7 .09 13.743 195.95 1.91 1.00 2.00 80.93 80.85 $7,582 $34,200 $99,146 $14,164
NH 3 .02 13.928 178.00 2.16 1.00 3.00 80.23 79.55 $3,380 $15,492 $26,505 $8,835
NJ 208 3.21 13.247 196.45 2.42 1.00 10.00 82.17 81.89 $2,108 $49,968 $3,630,009 $17,452
NM 22 .32 11.808 212.38 2.78 1.00 7.00 76.35 76.11 $5,282 $25,428 $366,824 $16,674
NV 299 5.94 11.107 249.12 2.23 .00 7.00 83.92 83.67 $2,964 $50,490 $6,706,626 $22,430
NY 249 4.88 13.445 223.80 2.77 1.00 10.00 84.84 84.53 $3,949 $59,637 $5,510,703 $22,131
OH 176 1.95 14.025 176.80 2.50 .00 6.00 80.12 79.75 $1,654 $38,600 $2,205,100 $12,529
OK 79 .72 11.985 158.77 2.53 1.00 6.00 80.25 79.75 $3,736 $34,733 $813,899 $10,303
OR 40 .68 12.976 236.11 2.09 1.00 4.00 76.00 75.78 $5,169 $50,000 $764,818 $19,120
PA 166 1.89 12.720 182.66 2.57 .00 9.00 78.42 77.98 $1,490 $41,434 $2,136,811 $12,872
RI 7 .13 13.990 220.79 1.98 1.00 2.00 89.37 89.20 $3,500 $32,704 $142,031 $20,290
SC 60 .97 13.228 188.32 3.06 1.00 14.00 82.27 81.94 $4,308 $37,873 $1,099,359 $18,323
TN 91 1.27 12.769 193.97 2.55 1.00 6.00 85.96 85.67 $3,193 $41,620 $1,436,998 $15,791
TX 337 4.10 11.751 171.07 2.38 .00 27.00 78.56 78.14 $2,853 $42,904 $4,634,120 $13,751
UT 35 .52 12.478 221.37 2.24 1.00 6.00 77.98 77.81 $5,230 $41,660 $583,450 $16,670
VA 36 .38 14.582 156.90 2.62 1.00 6.00 85.04 84.59 $3,175 $45,857 $427,590 $11,877
WA 93 1.51 13.539 227.41 2.37 .00 7.00 80.60 80.29 $3,540 $49,713 $1,708,038 $18,366
WI 35 .39 13.531 193.29 2.22 1.00 6.00 83.15 82.83 $2,081 $28,058 $443,464 $12,670
WV 12 .10 12.594 159.15 1.79 .00 4.00 58.43 58.18 $3,500 $18,107 $109,712 $9,143
WY 9 .09 12.774 175.12 1.93 1.00 3.00 69.22 69.12 $6,385 $17,648 $97,654 $10,850
- --------------------------------------------------------------------------------------------------------------------------------
Total.. 5,836 100.00% 12.602 227.57 2.45 .00 27.00 83.69 83.39 $1,490 $72,474 $112,962,014 $19,356
================================================================================================================================
</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.
<PAGE>
<TABLE>
<CAPTION>
PROPERTY-TYPE
- ------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Single Family Detached 5,662 96.01 12.563 227.42 2.45 83.68 $73,219 $108,451,781.22
Single Family Attached 48 1.20 13.633 242.96 2.69 90.20 $50,000 $1,353,938.97
2 Family 45 .86 12.943 215.89 2.36 83.17 $49,417 $973,707.70
3-4 Family 11 .26 13.123 238.90 2.60 85.95 $50,000 $292,970.98
Townhouses 6 .05 13.881 153.30 1.88 94.34 $19,000 $61,783.73
PUD 4 .09 13.216 255.02 2.61 89.06 $50,000 $98,764.57
Co-op 1 .02 13.990 162.00 18.00 89.33 $20,215 $19,862.77
Other 59 1.51 13.878 231.90 2.69 77.91 $60,000 $1,709,204.00
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
OCCUPANCY
- ------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Owner Occ. 5,803 98.98 12.594 227.50 2.45 83.83 $73,219 $111,814,716.67
Investor 28 .91 13.452 233.49 2.85 69.69 $60,000 $1,024,874.02
Vacation/Second Home 5 .11 12.640 245.40 2.74 73.40 $32,775 $122,423.25
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
DOCUMENTATION LEVEL
- ------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Full Documentation 5,836 100.00 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
LOAN-PURPOSE
- ------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Refinance/No ETO 305 4.26 13.113 212.77 5.29 80.43 $50,000 $4,816,493.40
Refinance/ETO 1 .00 13.990 117.00 3.00 71.97 $5,000 $4,955.73
Construction 1 .02 11.250 298.00 2.00 82.56 $24,227 $24,226.75
Home Improvement 5,526 95.70 12.579 228.25 2.32 83.84 $73,219 $108,101,733.75
Other 3 .01 13.596 65.40 24.40 48.44 $9,071 $14,604.31
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
</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.
<PAGE>
<TABLE>
<CAPTION>
LOAN GRADE
- --------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Grade Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A 2,091 34.75 11.538 225.04 2.43 81.79 $73,219 $39,252,661.91
A- 1,743 35.82 13.031 241.85 2.41 86.49 $60,000 $40,460,267.74
B+ 1,527 23.06 13.194 214.31 2.46 82.57 $60,000 $26,049,561.47
B 448 6.07 13.837 209.09 2.83 82.58 $60,000 $6,853,729.86
B- 26 .29 14.040 213.03 2.43 76.37 $38,908 $331,368.46
C+ 1 .01 15.750 179.00 1.00 87.05 $14,425 $14,424.50
- --------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
==============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
LIEN STATUS
- ----------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Lien Status Loan Pool WAC Term Age CLTV Amount Balance
<C> <C> <C> <C> <C> <C> <C> <C> <C>
1 1 .00 14.500 81.00 3.00 79.78 $4,152 $4,096.71
2 4,607 81.80 12.681 229.76 2.45 85.64 $73,219 $92,406,107.86
3 1,228 18.20 12.245 217.80 2.47 74.92 $50,000 $20,551,809.37
- ----------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
LOAN TYPE
- --------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
Loan Type Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FHA SECURED HOME IMPROV. 1,059 15.56 13.669 208.61 2.57 84.35 $60,000 $17,574,332.07
SECURED HOME IMPROV. (NOT FHA) 4,777 84.44 12.405 231.07 2.43 83.57 $73,219 $95,387,681.87
- --------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
==============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
BALLOON LOANS
- ------------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
BALLOON CODE Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
No 5,834 99.98 12.602 227.59 2.45 83.69 $73,219 $112,943,613.94
Yes 2 .02 12.625 106.64 1.70 98.65 $12,900 $18,400.00
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
* Balloon loans have a [bln. term]/[amor. term] of 81/84 and 120/240.
</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.
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL FICO RANGE
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
FICO RANGE Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
400 * FICO *= 425 3 .03 10.779 163.02 1.82 86.24 $16,689 $33,250.75
425 * FICO *= 450 2 .03 11.282 224.55 2.00 74.62 $35,310 $38,161.61
450 * FICO *= 475 13 .16 13.649 193.97 2.43 76.22 $29,196 $182,479.85
475 * FICO *= 500 38 .75 13.789 237.35 2.85 83.22 $50,000 $842,571.18
500 * FICO *= 525 148 2.44 13.502 227.54 2.46 85.68 $50,000 $2,760,930.64
525 * FICO *= 550 301 5.21 13.300 232.58 2.36 85.92 $50,000 $5,886,932.32
550 * FICO *= 575 497 8.61 13.345 230.52 2.40 85.42 $60,000 $9,724,680.35
575 * FICO *= 600 692 12.08 13.211 225.78 2.34 85.34 $50,000 $13,645,424.54
600 * FICO *= 625 755 13.93 13.063 234.82 2.46 85.66 $51,441 $15,732,500.10
625 * FICO *= 650 794 14.33 12.680 229.58 2.40 84.21 $73,219 $16,186,917.17
650 * FICO *= 675 657 11.62 12.259 228.10 2.45 82.71 $50,000 $13,127,925.05
675 * FICO *= 700 453 7.75 11.676 229.22 2.39 83.66 $50,000 $8,759,173.68
700 * FICO *= 725 387 6.60 11.365 229.16 2.24 81.41 $50,000 $7,453,332.08
725 * FICO *= 750 262 4.54 11.103 230.30 2.30 80.78 $50,125 $5,127,552.70
750 * FICO *= 800 322 5.26 10.763 223.71 2.17 78.16 $50,000 $5,945,584.10
800 * FICO *= 850 15 .23 11.204 216.39 2.46 65.87 $38,000 $256,358.02
FICO Score not available 497 6.43 13.850 199.87 3.53 81.86 $60,000 $7,258,239.80
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
===================================================================================================================
*= Less than
</TABLE>
<TABLE>
<CAPTION>
ORIGINAL DTI RANGE
- -------------------------------------------------------------------------------------------------------------------
WA WA Max. Orig Total
# % Rem WA Orig Loan Current
DTI RANGE Loan Pool WAC Term Age CLTV Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C>
0.000 * DTI *= 10.000 7 .10 11.207 196.73 2.11 70.23 $42,452 $115,557.88
10.000 * DTI *= 20.000 142 1.88 12.044 191.04 2.35 69.95 $40,000 $2,119,623.62
20.000 * DTI *= 30.000 794 12.16 12.185 212.77 2.54 80.41 $60,000 $13,737,351.28
30.000 * DTI *= 40.000 1,905 31.43 12.564 223.34 2.44 83.75 $60,000 $35,501,130.87
40.000 * DTI *= 50.000 2,723 49.97 12.811 233.78 2.46 85.15 $73,219 $56,447,911.44
50.000 * DTI *= 60.000 239 4.02 11.816 245.17 2.21 82.61 $50,490 $4,539,821.08
60.000 * DTI *= 70.000 7 .11 11.400 204.83 1.18 77.41 $40,431 $128,189.95
70.000 * DTI *= 80.000 4 .06 12.833 264.30 2.58 76.01 $43,054 $72,690.20
80.000 * DTI *= 90.000 2 .03 12.969 252.92 2.00 83.50 $27,290 $36,354.52
90.000 * DTI *= 95.000 1 .01 13.990 117.00 3.00 91.83 $7,617 $7,617.00
95.000 * DTI *= 100.000 2 .04 12.641 256.54 3.00 97.66 $26,800 $40,397.68
120.000 * DTI *= 150.000 1 .03 12.500 297.00 3.00 93.65 $34,000 $33,980.09
DTI Ratio not available 9 .16 14.094 233.51 3.46 63.39 $45,000 $181,388.33
- -------------------------------------------------------------------------------------------------------------------
Total..... 5,836 100.00% 12.602 227.57 2.45 83.69 $73,219 $112,962,013.94
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*= Less than
</TABLE>
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