SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) December 12, 1997
The Originators listed below under a Pooling and
Servicing Agreement, dated as of November 30, 1997,
providing for the issuance of The Money Store
Asset-Backed Certificates, Series 1997-D.
TMS Mortgage Inc.
The Money Store/D.C. Inc.
The Money Store/Minnesota Inc.
The Money Store Home Equity Corp.
The Money Store/Kentucky Inc.
- -------------------------------------------------------------------------------
Exact name of registrant as specified in its charter)
* 333-32775 *
- ----------------- ---------------- -----------------
(State or other (Commission File (IRS Employer ID
jurisdiction of Number) Number)
incorporation)
----------------------
*--See Schedule A
2840 Morris Avenue, Union, New Jersey 07083
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrants' Telephone Number,
including area code: (908) 686-2000
N/A
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
SCHEDULE A
IRS
STATE EMPLOYER
OF IDENTIFICATION
REGISTRANT INCORPORATION NUMBER
---------- ------------- --------------
TMS Mortgage Inc. New Jersey 22-3217781
The Money Store/D.C. Inc. D.C. 22-2133027
The Money Store/Minnesota Inc. Minnesota 22-3003495
The Money Store Home Equity Corp. Kentucky 22-2522232
The Money Store/Kentucky Inc. Kentucky 22-2459832
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 Morgan Stanley & Co. Incorporated,
Prudential Securities Incorporated, First Chicago Capital Markets, Inc., Salomon
Smith Barney and Lehman Brothers, Inc., (each an "Underwriter") 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 Asset-Backed Certificates, Series 1997-
D. The term "Computational Materials" shall have the meanings given in the
No-Action Letter of May 20, 1994 issued by the Securities and Exchange
Commission to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co.
Incorporated and Kidder Structured Asset Corporation, as supplemented in the
No-Action Letters of May 27, 1994 and 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 Morgan Stanley & Co. Incorporated
99.2 Computational Materials of Prudential Securities Incorporated
99.3 Computational Materials of First Chicago Capital Markets, Inc.
99.4 Computational Materials of Salomon Smith Barney
99.5 Computational Materials of Lehman Brothers 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.
TMS MORTGAGE INC.
THE MONEY STORE/D.C. INC.
THE MONEY STORE/MINNESOTA INC.
THE MONEY STORE HOME EQUITY CORP.
THE MONEY STORE/KENTUCKY INC.
By: /s/ Michael H. Benoff
Name: Michael H. Benoff
Title: Senior Vice President
Dated: December 17, 1997
<PAGE>
EXHIBIT INDEX
EXHIBIT
99.1 Computational Materials of Morgan Stanley & Co. Incorporated
99.2 Computational Materials of Prudential Securities Incorporated
99.3 Computational Materials of First Chicago Capital Markets, Inc.
99.4 Computational Materials of Salomon Smith Barney
99.5 Computational Materials of Lehman Brothers Inc.
<PAGE>
EXHIBIT 99.1
- -------------------------------------------------------------------------------
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] December 12, 1997
ASSET FINANCE GROUP
ABS/MBS CAPITAL MARKETS
- -------------------------------------------------------------------------------
ABS NEW TRANSACTION
COMPUTATIONAL MATERIALS
-------------------------------------------
PRE-MARKETING DECEMBER 12, 1997
EXPECTED LAUNCH: DECEMBER 12, 1997
EXPECTED PRICING: DECEMBER 15, 1997
-------------------------------------------
$1,500,000,000 (APPROXIMATE)
$700,000,000 (APPROXIMATE) FIXED RATE FIXED RATE CERTIFICATES
THE MONEY STORE TRUST 1997-D
HOME EQUITY LOAN ABS
-------------------------------------------
This information has been prepared in connection with the issuance of
securities representing interests in the above trust, and is based in part on
information provided byThe Money Store with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interests. The actual characteristics and
performance of the home equity loans will differ from the assumptions used in
preparing these materials, which are hypothetical in nature. Changes in the
assumptions may have a material impact on the information set forth in these
materials. No representation is made that any performance or return indicated
herein will be achieved. For example, it is very unlikely that the loans will
prepay at a constant rate or follow a predictable pattern. This information may
not be used or otherwise disseminated in connection with the offer or sale of
these or any other securities, except in connection with the initial offer or
sale of these securities to you to the extent set forth below. NO REPRESENTATION
IS MADE AS TO THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE
MATERIALS OR THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is
available upon request. These materials do not constitute an offer to buy or
sell or a solicitation of an offer to buy or sell any security or instrument or
to participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
SEC SHELF ABS -- NO RED HERRINGS WILL BE AVAILABLE`
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided byThe Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
- -------------------------------------------------------------------------------
MORGAN STANLEY DEAN WITTER [GRAPHIC OMITTED] December 12, 1997
ASSET FINANCE GROUP
ABS/MBS CAPITAL MARKETS
- -------------------------------------------------------------------------------
$1,500,000,000 THE MONEY STORE TRUST, 1997-D
THE MONEY STORE, INC. -- MASTER SERVICER
<TABLE>
<CAPTION>
TRANSACTION HIGHLIGHTS
----------------------------------------------------------------------------------------------------------------------------------
EXPECTED PAYMENT
PPROXIMATE RATINGS AVERAGE WINDOWS TO INTEREST EXPECTED PRICE
CLASS CLASS SIZE (MOODY'S/ LIFE MATURITY DAY FINAL TO
CLASS(1) GROUP TYPE ($THOUSANDS) S&P) TO MATURITY(2) (MONTHS) COUNT MATURITY(2) BENCHMARK
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AF1 I Fixed Sequential 110,000,000 Aaa/AAA 0.43 10 30/360 10/15/98 TBD
AF2 I Fixed Sequential 80,000,000 Aaa/AAA 1.03 7 30/360 04/15/99 TBD
AF3 I Fixed TAC 200,000,000 Aaa/AAA 2.25 27 30/360 06/15/01 TBD
AF4 I Fixed TAC 60,000,000 Aaa/AAA 4.04 15 30/360 08/15/02 TBD
AF5 I Fixed TAC 34,000,000 Aaa/AAA 5.12 14 30/360 09/15/03 TBD
AF6 I Auction Rate/ 76,000,000 Aaa/AAA 9.13 181 Actual/360 05/15/14 TBD
Companion
AF7 I Nas 70,000,000 Aaa/AAA 6.38 159 30/360 03/15/14 TBD
AV1 II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AV2 II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
M1V II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
M2V II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
BV II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH1 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH2 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH3 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH4 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH5 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH6 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
MH1 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
MH2 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
BH III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AMF IV NOT OFFERED BY MORGAN STANLEY DEAN WITTER
TOTAL $1,500,000,000 -- -- -- -- --
- -----------------------------------------------------------------------------------------------------------------------------------
NOTES: (1) The Class AF1 through AF7 certificates are backed by the Group I (fixed rate) pool of mortgage loans.
(2) Class AF1 through AF7 are priced at a prepayment speed of 100% PPC.
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
ORIGINATOR/MASTER SERVICER: The Money Store, Inc. and affiliates.
TRUSTEE: The Bank of New York
UNDERWRITERS: MORGAN STANLEY DEAN WITTER (book running manager
and co-lead); Prudential Securities (co-lead),
First Chicago (co-manager)
COLLATERAL: Group I: Fixed Rate Home Equity Loans (Classes
AF1-AF7) Group II: Adjustable Rate Home Equity
Loans (Classes AV1, AV2, MV1, MV2, and BV) Group
III: Fixed Rate Home Improvement Loans ( Classes
AH1-AH6, MH1, MH2, BH) Group IV: Multi-Family
Loans (Class AMF)
See "Collateral Description"
GROUP I: FIXED RATE CLASSES AF1 AND AF2: Sequential Pay Bonds.
CERTIFICATES: CLASSES AF3, AF4 AND AF5: TAC Bonds (Targeted
Amortization Classes). The TAC Bonds will pay
principal based on an amortization schedule at
the pricing speed. CLASS AF6: Auction
Rate/Companion Bond. CLASS AF7: NAS bond.
GROUP I: CLASS AF1 The prepayment assumption is 100% PPC, which
THROUGH AF7 equates to a prepayment speed of 2.4% CPR in
PREPAYMENT SPEED: the first month, increasing by 2.4% CPR each
month to 24.0% CPR in month 10, and remaining at
24.0% CPR thereafter on a seasoning adjusted
basis
EXPECTED PRICING DATE: December 15, 1997
EXPECTED SETTLEMENT DATE: December 31, 1997, through DTC, Euroclear,
and CEDEL.
DISTRIBUTION DATES: The 15th of each month, beginning January
15, 1998
OPTIONAL CALL The master servicer may exercise a clean-up call
when the aggregate collateral balance of all
groups is less than 10% of the original
collateral balance as of the cut-off date
TRUST TAX STATUS: REMIC trust
ERISA ELIGIBILITY: The Class AF1 through AF7 Certificates will be
ERISA eligible.
SMMEA ELIGIBILITY: The Certificates are NOT SMMEA eligible
CREDIT ENHANCEMENT: Group I: MBIA surety wrap,
overcollateralization, cross-collateralization,
subordination of excess
LEGAL FINAL Class AF1: January 15, 2000
MATURITY:
Class AF2: July 15, 2000
Class AF3: September 15, 2002
Class AF4: November 15, 2003
Class AF5: December 15, 2038
Class AF6: December 15, 2038
Class AF7: December 15, 2038
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
PAYMENT STRUCTURE
PRINCIPAL AND INTEREST COLLECTIONS (NET OF SERVICING FEE AND CONTINGENCY FEE)
WILL BE ALLOCATED IN THE FOLLOWING PRIORITY:
1. Trustee and Surety fee
2. Senior bonds (Class AF1 through AF7) current interest plus unpaid interest
shortfalls
3. Principal payments are applied as follows:
a) Pay Classes AF7 according to the following Lockout
Percentage--such Lockout Percentage is calculated on the
Class AF7 pro rata share of all principal payments:
January 1998 - December 2000 0%
January 2001 - December 2002 45%
January 2003 - December 2003 80%
January 2004 - December 2004 100%
January 2005 - 300%
b) Pay Class AF1 until retirement;
c) Pay Class AF2 until retirement;
d) Pay Class AF3 based on its Targeted Amortization Schedule;
e) Pay Class AF4 based on its Targeted Amortization Schedule;
f) Pay Class AF5 based on its Targeted Amortization Schedule;
g) Pay Class AF6 until retirement;
h) Pay Class AF3 until retirement;
i) Pay Class AF4 until retirement;
j) Pay Class AF5 until retirement; and
l) Pay Class AF7 until retirement
4. To the Residual Holder, to the extent available after covering current
monthly losses, accrued monthly interest based on a coupon of 2.50% per
annum on a notional principal balance equal to the balance of the Class AF7
Certificates, commencing on the first remittance date and concluding on the
October 1998 Remittance Date
5. Excess interest used to build overcollateralization to the target level for
the (AF1-AF7) only
6. Any excess cash flow reverts to the Residual Holder if not required for
cross-collateralization
Targeted Amortization Schedule is the pricing speed cashflow
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
CREDIT STRUCTURE
- - SURETY BOND PROVIDED BY MBIA
- - Overcollateralization ("O/C") will build through the application of net
excess interest to [3.10%] of the Original Balance of the fixed rate loans.
O/C can step-down to [6.20%] of the current balance of the fixed rate loans
after the 30th distribution date pending performance tests. The O/C is
subject to a floor of 0.50% of the Original Balance of the fixed rate
loans.
<TABLE>
<CAPTION>
AVERAGE LIFE SENSITIVITY TO CHANGES IN PREPAYMENT RATES
ASSUMES NO 10% CLEAN-UP CALL
PREPAYMENT ASSUMPTION (PPC)
----------------------------------------------------------------------------------------------------------------------------
75 100 125 150 175 200
-- --- --- --- --- ---
WAL PYMNT. WAL PYMNT. WAL PYMNT. WAL PYMNT. WAL PYMNT. WAL PYMNT.
WIN. WIN. WIN. WIN. WIN. WIN.
=============================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class AF1 0.51 12 0.43 10 0.37 8 0.33 8 0.30 7 0.27 6
Class AF2 1.29 9 1.03 7 0.86 6 0.75 5 0.67 4 0.61 4
Class AF3 2.96 38 2.25 27 2.26 28 2.05 23 1.74 19 1.51 16
Class AF4 5.50 22 4.04 15 4.18 18 3.72 17 3.01 13 2.48 9
Class AF5 7.52 29 5.12 14 5.92 42 6.03 82 4.17 17 3.32 13
Class AF6 12.29 146 9.13 181 3.70 148 1.11 5 0.97 5 0.86 4
Class AF7 6.85 213 6.38 159 6.04 121 5.76 96 5.37 78 4.71 61
- -----------------------------------------------------------------------------------------------------------------------------
NOTE:
(1) "PPC" column notes prepayment speed ramp of The Money tore 1997-D.
The prepayment pricing speed on Class AF1 hrough AF7 is 100% the PPC, which
equates to a prepayment peed of 2.4% CPR in the first month, increasing by
2.4% CPR ach month to 24% CPR in month 10, and remaining at 24% CPR
hereafter on a seasoning adjusted basis.
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Adjustment Type Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Fixed 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Current Principal Loans Balance Balance
Balance
- --------------------------------- ------ ---------------- ----------
equals less than 25,000.00 3,412 57,906,464.41 15.09
25,000.01 - 50,000.00 2,978 106,302,838.26 27.7
50,000.01 - 75,000.00 1,388 85,198,723.56 22.2
75,000.01 - 100,000.00 549 46,961,965.43 12.24
100,000.01 - 125,000.00 301 33,730,591.99 8.79
125,000.01 - 150,000.00 171 23,222,776.47 6.05
150,000.01 - 175,000.00 65 10,502,562.23 2.74
175,000.01 - 200,000.00 37 6,919,116.45 1.8
200,000.01 - 300,000.00 44 10,408,051.26 2.71
300,000.01 - 400,000.00 5 1,721,202.52 0.45
400,000.01 - 500,000.00 2 878,994.02 0.23
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 2,183.54
Max: 448494
Average: 42,867.88
Total: 383,753,286.60
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Current Coupon Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
equals less than 7.000 6 325,337.77 0.08
7.001 - 7.500 4 478,215.87 0.12
7.501 - 8.000 5 324,933.73 0.08
8.001 - 8.500 17 1,387,432.03 0.36
8.501 - 9.000 149 11,928,233.51 3.11
9.001 - 9.500 237 17,840,713.06 4.65
9.501 - 10.000 527 41,795,672.52 10.89
10.001 - 10.500 735 44,246,049.41 11.53
10.501 - 11.000 999 55,883,643.63 14.56
11.001 - 11.500 1,015 43,297,798.91 11.28
11.501 - 12.000 1,549 57,849,363.86 15.07
12.001 - 13.000 2,124 67,949,675.50 17.71
13.001 - 14.000 1,095 28,100,449.19 7.32
14.001 - 15.000 416 10,657,644.58 2.78
15.001 greater than equals 74 1,688,123.03 0.44
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 6.00
Max: 17.99
Weighted Average: 11.39
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Original Term Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
13 - 24 1 5,000.00 0
25 - 36 3 26,302.01 0.01
37 - 48 1 18,000.00 0
49 - 60 269 3,435,969.06 0.9
61 - 72 8 117,657.23 0.03
73 - 84 95 1,722,531.21 0.45
85 - 96 16 247,452.30 0.06
97 - 108 2 42,396.12 0.01
109 - 120 1,267 25,316,217.71 6.6
121 - 132 3 46,500.00 0.01
133 - 144 26 662,533.22 0.17
145 - 156 3 86,386.35 0.02
157 - 168 2 98,727.00 0.03
169 - 180 3,901 137,911,782.90 35.94
193 - 204 2 38,100.00 0.01
205 - 216 5 436,987.35 0.11
217 - 228 1 14,500.00 0
229 - 240 684 29,242,065.79 7.62
241 - 252 2 158,800.00 0.04
253 - 264 2 97,998.42 0.03
265 - 276 1 33,000.00 0.01
289 - 300 427 18,884,829.61 4.92
313 - 324 1 55,000.00 0.01
349 - 360 2,204 162,676,258.34 42.39
469 - 480 26 2,378,291.98 0.62
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 24
Max: 480
Weighted Average: 263
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Stated Remaining Term Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
1 - 12 1 2,654.66 0
13 - 24 1 5,000.00 0
25 - 36 24 174,996.02 0.05
37 - 48 29 286,763.29 0.07
49 - 60 231 3,249,270.89 0.85
61 - 72 19 343,118.14 0.09
73 - 84 79 1,345,474.03 0.35
85 - 96 201 3,337,176.22 0.87
97 - 108 176 3,047,939.99 0.79
109 - 120 905 19,232,597.14 5.01
121 - 132 3 46,500.00 0.01
133 - 144 25 639,501.42 0.17
145 - 156 757 26,239,734.29 6.84
157 - 168 521 18,731,119.75 4.88
169 - 180 2,626 93,126,260.55 24.27
181 - 192 1 133,789.81 0.03
193 - 204 2 38,100.00 0.01
205 - 216 21 1,470,075.45 0.38
217 - 228 23 1,530,875.22 0.4
229 - 240 645 26,558,812.66 6.92
241 - 252 2 158,800.00 0.04
253 - 264 2 97,998.42 0.03
265 - 276 16 692,473.69 0.18
277 - 288 8 263,298.12 0.07
289 - 300 404 17,962,057.80 4.68
313 - 324 1 55,000.00 0.01
325 - 336 302 25,202,392.98 6.57
337 - 348 166 13,803,590.30 3.6
349 - 360 1,735 123,599,623.78 32.21
469 - 480 26 2,378,291.98 0.62
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 5
Max: 480
Weighted Average: 256
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Original Combined LTV Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
equals less than 0.000 38 3,254,156.04 0.85
0.001 - 5.000 1 6,022.47 0
5.001 - 10.000 34 455,801.17 0.12
10.001 - 15.000 66 1,271,463.76 0.33
15.001 - 20.000 109 2,335,376.46 0.61
20.001 - 25.000 87 2,001,847.14 0.52
25.001 - 30.000 121 3,029,511.99 0.79
30.001 - 35.000 120 3,566,043.48 0.93
35.001 - 40.000 125 3,873,506.56 1.01
40.001 - 45.000 123 3,590,298.38 0.94
45.001 - 50.000 157 5,013,634.41 1.31
50.001 - 55.000 180 6,644,387.05 1.73
55.001 - 60.000 202 8,511,499.07 2.22
60.001 - 65.000 335 13,442,323.22 3.5
65.001 - 70.000 560 23,348,413.11 6.08
70.001 - 75.000 623 27,572,643.32 7.18
75.001 - 80.000 1,492 69,144,457.26 18.02
80.001 - 85.000 1,529 70,674,536.12 18.42
85.001 - 90.000 2,130 101,851,269.92 26.54
90.001 - 95.000 390 12,365,684.74 3.22
95.001 - 100.000 530 21,800,410.93 5.68
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 3.94
Max: 100.00
Weighted Average: 78.55
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Lien Position Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
1 4,615 270,915,782.34 70.6
2 4,335 112,678,325.81 29.36
3 2 159,178.45 0.04
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Property Type Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Unknown 9 380,170.39 0.1
Detached single family 7,999 339,435,393.23 88.45
Detached PUD 29 1,419,161.63 0.37
Manufactured single wide 255 9,430,088.64 2.46
Attached PUD 10 508,726.63 0.13
Attached townhouse 65 2,651,285.39 0.69
Attached condo 104 3,741,041.01 0.97
2-4 Family 317 18,992,318.63 4.95
D-PUD 4 112,035.81 0.03
Manufactured double wide 160 7,083,065.24 1.85
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Loan Purpose Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Rate/Term Refinance 3,506 212,212,248.26 55.3
Debt Consolidation 3,379 92,686,590.50 24.15
Cashout 1,393 35,567,954.08 9.27
Purchase Money 390 32,254,899.52 8.41
Unknown 241 9,938,111.01 2.59
Home Improvement 39 749,504.17 0.2
REO 3 308,469.61 0.08
Medical Bills 1 35,509.45 0.01
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Owner Occupancy Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Primary 8,364 358,044,265.91 93.3
Investment 296 13,783,794.36 3.59
Unknown 238 9,749,614.02 2.54
Second Home 53 2,141,951.28 0.56
Rental 1 33,661.03 0.01
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Documentation Level Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Full Documentation 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Geographical Distribution Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
New York 641 34,648,801.26 9.03
Pennsylvania 588 23,346,253.09 6.08
Illinois 502 22,397,436.26 5.84
Ohio 432 19,339,746.78 5.04
Florida 425 18,473,259.01 4.81
Georgia 367 17,028,750.24 4.44
Indiana 386 16,747,921.56 4.36
North Carolina 310 16,079,567.03 4.19
New Jersey 343 16,077,589.15 4.19
Michigan 379 14,377,464.69 3.75
California-Northern 290 13,968,153.65 3.64
South Carolina 285 13,372,263.92 3.48
Washington 330 13,010,405.70 3.39
California-Southern 281 12,693,788.06 3.31
Missouri 312 11,348,385.74 2.96
Arizona 198 8,284,818.46 2.16
Maryland 211 8,076,404.25 2.1
Tennessee 197 7,865,030.58 2.05
Colorado 191 7,762,599.19 2.02
Mississippi 142 5,974,869.34 1.56
Kentucky 130 5,884,668.67 1.53
Minnesota 157 5,588,817.88 1.46
New Mexico 121 5,353,871.01 1.4
Connecticut 111 5,232,813.39 1.36
Massachusetts 133 5,031,063.02 1.31
Oregon 111 4,650,359.33 1.21
Louisiana 116 4,515,342.30 1.18
Virginia 97 4,459,316.82 1.16
Nevada 127 4,199,605.39 1.09
Utah 107 3,997,326.64 1.04
Wisconsin 100 3,953,061.62 1.03
Kansas 113 3,363,706.02 0.88
Texas 59 3,180,499.09 0.83
Maine 80 2,748,095.72 0.72
Idaho 75 2,550,712.26 0.66
Iowa 83 2,459,230.02 0.64
Oklahoma 79 2,248,697.97 0.59
West Virginia 63 2,100,901.42 0.55
Nebraska 62 1,978,561.57 0.52
Rhode Island 41 1,868,334.25 0.49
New Hampshire 44 1,742,014.79 0.45
Delaware 38 1,697,840.46 0.44
District of Columbia 23 1,427,346.43 0.37
Wyoming 15 638,810.32 0.17
Vermont 14 498,401.55 0.13
Arkansas 11 487,284.54 0.13
Montana 12 321,279.04 0.08
Alaska 8 304,804.31 0.08
South Dakota 5 248,635.95 0.06
North Dakota 5 103,890.47 0.03
Alabama 1 26,799.12 0.01
California 1 17,687.27 0
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Credit Rating Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Unknown 49 1,253,827.17 0.33
A 2,207 94,156,211.60 24.54
A- 2,360 113,054,784.24 29.46
B 1,173 42,467,328.35 11.07
B- 528 18,602,645.44 4.85
B+ 2,391 106,220,077.31 27.68
C 199 6,568,252.47 1.71
C- 13 502,284.32 0.13
C+ 32 927,875.70 0.24
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement. To Our Readers Worldwide: In addition, please note that
this information has been provided by Morgan Stanley & Co. Incorporated and
approved by Morgan Stanley & Co. International Limited, a member of the
Securities and Futures Authority, and Morgan Stanley Japan Ltd. We recommend
that investors obtain the advice of their Morgan Stanley & Co. International
Limited or Morgan Stanley Japan Ltd. representative about the investment
concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K.
SECURITIES AND FUTURES AUTHORITY.
EXHIBIT 99.2
ABS NEW TRANSACTION
COMPUTATIONAL MATERIALS
-------------------------------------------
PRE-MARKETING DECEMBER 12, 1997
EXPECTED LAUNCH: DECEMBER 12, 1997
EXPECTED PRICING: DECEMBER 15, 1997
-------------------------------------------
$1,500,000,000 (APPROXIMATE)
$700,000,000 (APPROXIMATE) FIXED RATE FIXED RATE CERTIFICATES
THE MONEY STORE TRUST 1997-D
HOME EQUITY LOAN ABS
The information provided herein has been provided to Prudential Securities
Incorporated ("PSI") by Morgan Stanley Dean Witter as an underwriter for The
Money Store Trust 1997-D. The analysis in this report is accurate to the best of
PSI's knowledge and is based on information provided by The Money Store and
Morgan Stanley Dean Witter. PSI makes no representations as to the accuracy of
such information provided to it, and PSI has not independently verified such
information. All assumptions and information in this report reflect are as of
this date and are subject to change. All analyses are based on certain
assumptions noted herein and different assumptions could yield substantially
different results. You are cautioned that there is no universally accepted
method for analyzing financial instruments. You should review the assumptions;
there may be differences between these assumptions and your actual business
practices. Further, PSI does not guarantee any results and there is no guarantee
as to the liquidity of the instruments involved in this analysis. The decision
to adopt any strategy remains your responsibility. PSI (or any of its
affiliates) or their officers, directors, analysts or employees may have
positions in securities, commodities or derivative instruments thereon referred
to herein, and may, as principal or agent, buy or sell such securities,
commodities or derivative instruments. In addition, PSI may make a market in the
securities referred to herein. Neither the information nor the assumptions
reflected herein shall be construed to be, or constitute, an offer to sell or
buy or a solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. No sale of any securities, commodities
or derivative instruments should be consummated 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>
$1,500,000,000 THE MONEY STORE TRUST, 1997-D
THE MONEY STORE, INC. -- MASTER SERVICER
<TABLE>
<CAPTION>
TRANSACTION HIGHLIGHTS
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AF1 I Fixed Sequential 110,000,000 Aaa/AAA 0.43 10 30/360 10/15/98 TBD
AF2 I Fixed Sequential 80,000,000 Aaa/AAA 1.03 7 30/360 04/15/99 TBD
AF3 I Fixed TAC 220,000,000 Aaa/AAA 2.25 27 30/360 06/15/01 TBD
AF4 I Fixed TAC 60,000,000 Aaa/AAA 4.04 15 30/360 08/15/02 TBD
AF5 I Fixed TAC 34,000,000 Aaa/AAA 5.12 14 30/360 09/15/03 TBD
AF6 I Auction Rate/ 76,000,000 Aaa/AAA 9.13 181 Actual/360 05/15/14 TBD
Companion
AF7 I Nas 70,000,000 Aaa/AAA 6.38 159 30/360 03/15/14 TBD
AV1 II NOT OFFERED BY PSI
AV2 II NOT OFFERED BY PSI
M1V II NOT OFFERED BY PSI
M2V II NOT OFFERED BY PSI
BV II NOT OFFERED BY PSI
AH1 III NOT OFFERED BY PSI
AH2 III NOT OFFERED BY PSI
AH3 III NOT OFFERED BY PSI
AH4 III NOT OFFERED BY PSI
AH5 III NOT OFFERED BY PSI
AH6 III NOT OFFERED BY PSI
MH1 III NOT OFFERED BY PSI
MH2 III NOT OFFERED BY PSI
BH III NOT OFFERED BY PSI
AMF IV NOT OFFERED BY PSI
TOTAL $1,500,000,000 -- -- -- -- --
- -----------------------------------------------------------------------------------------------------------------------------------
NOTES: (1) The Class AF1 through AF7 certificates are backed by the Group I (fixed rate) pool of mortgage loans.
(2) Class AF1 through AF7 are priced at a prepayment speed of 100% PPC.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
ORIGINATOR/MASTER The Money Store, Inc. and affiliates.
SERVICER:
TRUSTEE: The Bank of New York
UNDERWRITERS: Morgan Stanley Dean Witter (co-lead); Prudential
Securities (co-lead), First Chicago (co-manager)
COLLATERAL: Group I: Fixed Rate Home Equity Loans (Classes AF1-AF7)
Group II: Adjustable Rate Home Equity Loans (Classes
AV1, AV2, MV1, MV2, and BV) Group III: Fixed Rate Home
Improvement Loans ( Classes AH1-AH6, MH1, MH2, BH)
Group IV: Multi-Family Loans (Class AMF)
See "Collateral Description"
GROUP I: FIXED RATE CLASSES AF1 AND AF2: Sequential Pay Bonds.
CERTIFICATES: CLASSES AF3, AF4 AND AF5: TAC Bonds (Targeted
Amortization Classes). The TAC Bonds will pay principal
based on an amortization schedule at the pricing speed.
CLASS AF6: Auction Rate/Companion Bond. CLASS AF7: NAS
bond.
GROUP I: CLASS AF1 The prepayment assumption is 100% PPC, which equates to
THROUGH AF7 a prepayment speed of 2.4% CPR in the first month,
PREPAYMENT SPEED: increasing by 2.4% CPR each month to 24.0% CPR in month
10, and remaining at 24.0% CPR thereafter on a
seasoning adjusted basis
EXPECTED PRICING December 15, 1997
DATE:
EXPECTED SETTLEMENT
DATE: December 31, 1997, through DTC, Euroclear, and CEDEL.
DISTRIBUTION
DATES: The 15th of each month, beginning January 15, 1998
OPTIONAL CALL: The master servicer may exercise a clean-up call when
the aggregate collateral balance of all groups is less
than 10% of the original collateral balance as of the
cut-off date
TRUST TAX
STATUS: REMIC trust
ERISA The Class AF1 through AF7 Certificates will be ERISA
ELIGIBILITY: eligible.
SMMEA
ELIGIBILITY: The Certificates are NOT SMMEA eligible
CREDIT Group I: MBIA surety wrap, overcollateralization,
ENHANCEMENT: cross-collateralization, subordination of excess
LEGAL FINAL
MATURITY: Class AF1: January 15, 2000
Class AF2: July 15, 2000
Class AF3: September 15, 2002
Class AF4: November 15, 2003
Class AF5: December 15, 2038
Class AF6: December 15, 2038
Class AF7: December 15, 2038
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
PAYMENT STRUCTURE
PRINCIPAL AND INTEREST COLLECTIONS (NET OF SERVICING FEE AND CONTINGENCY FEE)
WILL BE ALLOCATED IN THE FOLLOWING PRIORITY:
1. Trustee and Surety fee
2. Senior bonds (Class AF1 through AF7) current interest plus unpaid interest
shortfalls
3. Principal payments are applied as follows:
a) Pay Classes AF7 according to the following Lockout
Percentage--such Lockout Percentage is calculated on the
Class AF7 pro rata share of all principal payments:
January 1998 - December 2000 0% January 2001 - December
2002 45% January 2003 - December 2003 80% January 2004 -
December 2004 100% January 2005 - 300%
b) Pay Class AF1 until retirement;
c) Pay Class AF2 until retirement;
d) Pay Class AF3 based on its Targeted Amortization Schedule;
e) Pay Class AF4 based on its Targeted Amortization Schedule;
f) Pay Class AF5 based on its Targeted Amortization Schedule;
g) Pay Class AF6 until retirement;
h) Pay Class AF3 until retirement;
i) Pay Class AF4 until retirement;
j) Pay Class AF5 until retirement; and
k) Pay Class AF7 until retirement
4. To the Residual Holder, to the extent available after covering current
monthly losses, accrued monthly interest based on a coupon of 2.50% per
annum on a notional principal balance equal to the balance of the Class
AF7 Certificates, commencing on the first remittance date and
concluding on the October 1998 Remittance Date
Excess interest used to build overcollateralization to the target level
for the (AF1-AF7) only
5. Any excess cash flow reverts to the Residual Holder if not required
for cross-collateralization
Targeted Amortization Schedule is the pricing speed cashflow
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
CREDIT STRUCTURE
* SURETY BOND PROVIDED BY MBIA
Overcollateralization ("O/C") will build through the application of net excess
interest to [3.10%] of the Original Balance of the fixed rate loans. O/C
can step-down to [6.20%] of the current balance of the fixed rate loans
after the 30th distribution date pending performance tests. The O/C is
subject to a floor of 0.50% of the Original Balance of the fixed rate
loans.
AVERAGE LIFE SENSITIVITY TO CHANGES IN PREPAYMENT RATES
ASSUMES NO 10% CLEAN-UP CALL
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class AF1 0.51 12 0.43 10 0.37 8 0.33 8 0.30 7 0.27 6
Class AF2 1.29 9 1.03 7 0.86 6 0.75 5 0.67 4 0.61 4
Class AF3 2.96 38 2.25 27 2.26 28 2.05 23 1.74 19 1.51 16
Class AF4 5.50 22 4.04 15 4.18 18 3.72 17 3.01 13 2.48 9
Class AF5 7.52 29 5.12 14 5.92 42 6.03 82 4.17 17 3.32 13
Class AF6 12.29 146 9.13 181 3.70 148 1.11 5 0.97 5 0.86 4
Class AF7 6.85 213 6.38 159 6.04 121 5.76 96 5.37 78 4.71 61
- --------------------------------------------------------------------------------------------------------------------------
NOTE:
(1) "PPC" column notes prepayment speed ramp of The Money
Store 1997-D. The prepayment pricing speed on Class AF1
through AF7 is 100% the PPC, which equates to a prepayment
speed of 2.4% CPR in the first month, increasing by 2.4% CPR
each month to 24% CPR in month 10, and remaining at 24% CPR
thereafter on a seasoning adjusted basis.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Adjustment Type Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Fixed 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Current Principal Loans Balance Balance
Balance
- --------------------------------- ------ ---------------- ----------
equal/less than 25,000.00 3,412 57,906,464.41 15.09
25,000.01 - 50,000.00 2,978 106,302,838.26 27.7
50,000.01 - 75,000.00 1,388 85,198,723.56 22.2
75,000.01 - 100,000.00 549 46,961,965.43 12.24
100,000.01 - 125,000.00 301 33,730,591.99 8.79
125,000.01 - 150,000.00 171 23,222,776.47 6.05
150,000.01 - 175,000.00 65 10,502,562.23 2.74
175,000.01 - 200,000.00 37 6,919,116.45 1.8
200,000.01 - 300,000.00 44 10,408,051.26 2.71
300,000.01 - 400,000.00 5 1,721,202.52 0.45
400,000.01 - 500,000.00 2 878,994.02 0.23
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 2,183.54
Max: 448494
Average: 42,867.88
Total: 383,753,286.60
- --------------------------------- ------ ---------------- ----------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Current Coupon Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
=Less than 7.000 6 325,337.77 0.08
7.001 - 7.500 4 478,215.87 0.12
7.501 - 8.000 5 324,933.73 0.08
8.001 - 8.500 17 1,387,432.03 0.36
8.501 - 9.000 149 11,928,233.51 3.11
9.001 - 9.500 237 17,840,713.06 4.65
9.501 - 10.000 527 41,795,672.52 10.89
10.001 - 10.500 735 44,246,049.41 11.53
10.501 - 11.000 999 55,883,643.63 14.56
11.001 - 11.500 1,015 43,297,798.91 11.28
11.501 - 12.000 1,549 57,849,363.86 15.07
12.001 - 13.000 2,124 67,949,675.50 17.71
13.001 - 14.000 1,095 28,100,449.19 7.32
14.001 - 15.000 416 10,657,644.58 2.78
15.001 greater than = 74 1,688,123.03 0.44
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 6.00
Max: 17.99
Weighted Average: 11.39
- --------------------------------- ------ ---------------- ----------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Original Term Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
13 - 24 1 5,000.00 0
25 - 36 3 26,302.01 0.01
37 - 48 1 18,000.00 0
49 - 60 269 3,435,969.06 0.9
61 - 72 8 117,657.23 0.03
73 - 84 95 1,722,531.21 0.45
85 - 96 16 247,452.30 0.06
97 - 108 2 42,396.12 0.01
109 - 120 1,267 25,316,217.71 6.6
121 - 132 3 46,500.00 0.01
133 - 144 26 662,533.22 0.17
145 - 156 3 86,386.35 0.02
157 - 168 2 98,727.00 0.03
169 - 180 3,901 137,911,782.90 35.94
193 - 204 2 38,100.00 0.01
205 - 216 5 436,987.35 0.11
217 - 228 1 14,500.00 0
229 - 240 684 29,242,065.79 7.62
241 - 252 2 158,800.00 0.04
253 - 264 2 97,998.42 0.03
265 - 276 1 33,000.00 0.01
289 - 300 427 18,884,829.61 4.92
313 - 324 1 55,000.00 0.01
349 - 360 2,204 162,676,258.34 42.39
469 - 480 26 2,378,291.98 0.62
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 24
Max: 480
Weighted Average: 263
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Stated Remaining Loans Balance Balance
Term
- --------------------------------- ------ ---------------- ----------
1 - 12 1 2,654.66 0
13 - 24 1 5,000.00 0
25 - 36 24 174,996.02 0.05
37 - 48 29 286,763.29 0.07
49 - 60 231 3,249,270.89 0.85
61 - 72 19 343,118.14 0.09
73 - 84 79 1,345,474.03 0.35
85 - 96 201 3,337,176.22 0.87
97 - 108 176 3,047,939.99 0.79
109 - 120 905 19,232,597.14 5.01
121 - 132 3 46,500.00 0.01
133 - 144 25 639,501.42 0.17
145 - 156 757 26,239,734.29 6.84
157 - 168 521 18,731,119.75 4.88
169 - 180 2,626 93,126,260.55 24.27
181 - 192 1 133,789.81 0.03
193 - 204 2 38,100.00 0.01
205 - 216 21 1,470,075.45 0.38
217 - 228 23 1,530,875.22 0.4
229 - 240 645 26,558,812.66 6.92
241 - 252 2 158,800.00 0.04
253 - 264 2 97,998.42 0.03
265 - 276 16 692,473.69 0.18
277 - 288 8 263,298.12 0.07
289 - 300 404 17,962,057.80 4.68
313 - 324 1 55,000.00 0.01
325 - 336 302 25,202,392.98 6.57
337 - 348 166 13,803,590.30 3.6
349 - 360 1,735 123,599,623.78 32.21
469 - 480 26 2,378,291.98 0.62
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 5
Max: 480
Weighted Average: 256
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Original Combined Loans Balance Balance
LTV
- --------------------------------- ------ ---------------- ----------
Equal/Less Than 0.000 38 3,254,156.04 0.85
0.001 - 5.000 1 6,022.47 0
5.001 - 10.000 34 455,801.17 0.12
10.001 - 15.000 66 1,271,463.76 0.33
15.001 - 20.000 109 2,335,376.46 0.61
20.001 - 25.000 87 2,001,847.14 0.52
25.001 - 30.000 121 3,029,511.99 0.79
30.001 - 35.000 120 3,566,043.48 0.93
35.001 - 40.000 125 3,873,506.56 1.01
40.001 - 45.000 123 3,590,298.38 0.94
45.001 - 50.000 157 5,013,634.41 1.31
50.001 - 55.000 180 6,644,387.05 1.73
55.001 - 60.000 202 8,511,499.07 2.22
60.001 - 65.000 335 13,442,323.22 3.5
65.001 - 70.000 560 23,348,413.11 6.08
70.001 - 75.000 623 27,572,643.32 7.18
75.001 - 80.000 1,492 69,144,457.26 18.02
80.001 - 85.000 1,529 70,674,536.12 18.42
85.001 - 90.000 2,130 101,851,269.92 26.54
90.001 - 95.000 390 12,365,684.74 3.22
95.001 - 100.000 530 21,800,410.93 5.68
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 3.94
Max: 100.00
Weighted Average: 78.55
- --------------------------------- ------ ---------------- ----------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Lien Position Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
1 4,615 270,915,782.34 70.6
2 4,335 112,678,325.81 29.36
3 2 159,178.45 0.04
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Property Type Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Unknown 9 380,170.39 0.1
Detached single family 7,999 339,435,393.23 88.45
Detached PUD 29 1,419,161.63 0.37
Manufactured 255 9,430,088.64 2.46
single wide Attached PUD 10 508,726.63 0.13
Attached townhouse 65 2,651,285.39 0.69
Attached condo 104 3,741,041.01 0.97
2-4 Family 317 18,992,318.63 4.95
D-PUD 4 112,035.81 0.03
Manufactured 160 7,083,065.24 1.85
double wide
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Loan Purpose Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Rate/Term 3,506 212,212,248.26 55.3
Refinance
Debt Consolidation 3,379 92,686,590.50 24.15
Cashout 1,393 35,567,954.08 9.27
Purchase Money 390 32,254,899.52 8.41
Unknown 241 9,938,111.01 2.59
Home Improvement 39 749,504.17 0.2
REO 3 308,469.61 0.08
Medical Bills 1 35,509.45 0.01
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Owner Occupancy Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Primary 8,364 358,044,265.91 93.3
Investment 296 13,783,794.36 3.59
Unknown 238 9,749,614.02 2.54
Second Home 53 2,141,951.28 0.56
Rental 1 33,661.03 0.01
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Documentation Loans Balance Balance
Level
- --------------------------------- ------ ---------------- ----------
Full Documentation 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Geographical Loans Balance Balance
Distribution
- --------------------------------- ------ ---------------- ----------
New York 641 34,648,801.26 9.03
Pennsylvania 588 23,346,253.09 6.08
Illinois 502 22,397,436.26 5.84
Ohio 432 19,339,746.78 5.04
Florida 425 18,473,259.01 4.81
Georgia 367 17,028,750.24 4.44
Indiana 386 16,747,921.56 4.36
North Carolina 310 16,079,567.03 4.19
New Jersey 343 16,077,589.15 4.19
Michigan 379 14,377,464.69 3.75
California-Northern 290 13,968,153.65 3.64
South Carolina 285 13,372,263.92 3.48
Washington 330 13,010,405.70 3.39
California-Southern 281 12,693,788.06 3.31
Missouri 312 11,348,385.74 2.96
Arizona 198 8,284,818.46 2.16
Maryland 211 8,076,404.25 2.1
Tennessee 197 7,865,030.58 2.05
Colorado 191 7,762,599.19 2.02
Mississippi 142 5,974,869.34 1.56
Kentucky 130 5,884,668.67 1.53
Minnesota 157 5,588,817.88 1.46
New Mexico 121 5,353,871.01 1.4
Connecticut 111 5,232,813.39 1.36
Massachusetts 133 5,031,063.02 1.31
Oregon 111 4,650,359.33 1.21
Louisiana 116 4,515,342.30 1.18
Virginia 97 4,459,316.82 1.16
Nevada 127 4,199,605.39 1.09
Utah 107 3,997,326.64 1.04
Wisconsin 100 3,953,061.62 1.03
Kansas 113 3,363,706.02 0.88
Texas 59 3,180,499.09 0.83
Maine 80 2,748,095.72 0.72
Idaho 75 2,550,712.26 0.66
Iowa 83 2,459,230.02 0.64
Oklahoma 79 2,248,697.97 0.59
West Virginia 63 2,100,901.42 0.55
Nebraska 62 1,978,561.57 0.52
Rhode Island 41 1,868,334.25 0.49
New Hampshire 44 1,742,014.79 0.45
Delaware 38 1,697,840.46 0.44
District of Columbia 23 1,427,346.43 0.37
Wyoming 15 638,810.32 0.17
Vermont 14 498,401.55 0.13
Arkansas 11 487,284.54 0.13
Montana 12 321,279.04 0.08
Alaska 8 304,804.31 0.08
South Dakota 5 248,635.95 0.06
North Dakota 5 103,890.47 0.03
Alabama 1 26,799.12 0.01
California 1 17,687.27 0
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Credit Rating Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Unknown 49 1,253,827.17 0.33
A 2,207 94,156,211.60 24.54
A- 2,360 113,054,784.24 29.46
B 1,173 42,467,328.35 11.07
B- 528 18,602,645.44 4.85
B+ 2,391 106,220,077.31 27.68
C 199 6,568,252.47 1.71
C- 13 502,284.32 0.13
C+ 32 927,875.70 0.24
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY. THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS
STRUCTURAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
EXHIBIT 99.3
December 12, 1997
ABS NEW TRANSACTION
COMPUTATIONAL MATERIALS
-------------------------------------------
PRE-MARKETING DECEMBER 12, 1997
EXPECTED LAUNCH: DECEMBER 12, 1997
EXPECTED PRICING: DECEMBER 15, 1997
-------------------------------------------
$1,500,000,000 (APPROXIMATE)
$700,000,000 (APPROXIMATE) FIXED RATE FIXED RATE CERTIFICATES
THE MONEY STORE TRUST 1997-D
HOME EQUITY LOAN ABS
-------------------------------------------
SEC SHELF ABS -- NO RED HERRINGS WILL BE AVAILABLE
The information herein has been prepared solely for informational purposes
and is not an offer to buy or sell or a solicitation of an offer to buy or sell
any security or instrument or to participate in any particular trading strategy.
First Chicago Capital Markets, Inc. ("FCCM") and others associated with it may
have positions in, and may effect transactions in securities and instruments of
the issuer mentioned herein and may also perform or seek to perform investment
banking services for the issuer of such securities and instruments. No
representation is made that it is accurate or complete. Any such offer to buy or
sell any security would be made pursuant to a definitive prospectus and
prospectus supplement prepared by the issuer which would contain material
information not contained in these materials.
<PAGE>
December 12, 1997
$1,500,000,000 THE MONEY STORE TRUST, 1997-D
THE MONEY STORE, INC. -- MASTER SERVICER
TRANSACTION HIGHLIGHTS
<TABLE>
<CAPTION>
TRANSACTION HIGHLIGHTS
----------------------------------------------------------------------------------------------------------------------------------
EXPECTED PAYMENT
APPROXIMATE RATINGS AVERAGE WINDOWS TO INTEREST EXPECTED PRICE
CLASS CLASS SIZE (MOODY'S/ LIFE MATURITY DAY FINAL TO
CLASS(1) GROUP TYPE ($THOUSANDS) S&P) TO MATURITY(2) (MONTHS) COUNT MATURITY(2) BENCHMARK
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AF1 I Fixed Sequential 110,000,000 Aaa/AAA 0.43 10 30/360 10/15/98 TBD
AF2 I Fixed Sequential 80,000,000 Aaa/AAA 1.03 7 30/360 04/15/99 TBD
AF3 I Fixed TAC 220,000,000 Aaa/AAA 2.25 27 30/360 06/15/01 TBD
AF4 I Fixed TAC 60,000,000 Aaa/AAA 4.04 15 30/360 08/15/02 TBD
AF5 I Fixed TAC 34,000,000 Aaa/AAA 5.12 14 30/360 09/15/03 TBD
AF6 I Auction Rate/ 76,000,000 Aaa/AAA 9.13 181 Actual/360 05/15/14 TBD
Companion
AF7 I Nas 70,000,000 Aaa/AAA 6.38 159 30/360 03/15/14 TBD
AV1 II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AV2 II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
M1V II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
M2V II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
BV II NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH1 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH2 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH3 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH4 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH5 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AH6 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
MH1 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
MH2 III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
BH III NOT OFFERED BY MORGAN STANLEY DEAN WITTER
AMF IV NOT OFFERED BY MORGAN STANLEY DEAN WITTER
TOTAL $1,500,000,000 -- -- -- -- --
- -----------------------------------------------------------------------------------------------------------------------------------
NOTES: (1) The Class AF1 through AF7 certificates are backed by the Group I (fixed rate) pool of mortgage loans.
(2) Class AF1 through AF7 are priced at a prepayment speed of 100% PPC.
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
ORIGINATOR/MASTER SERVICER: The Money Store, Inc. and affiliates.
TRUSTEE: The Bank of New York
UNDERWRITERS: MORGAN STANLEY DEAN WITTER (book running
manager and co-lead); Prudential Securities
(co-lead), First Chicago (co-manager)
COLLATERAL: Group I: Fixed Rate Home Equity Loans
(Classes AF1-AF7) Group II: Adjustable Rate
Home Equity Loans (Classes AV1, AV2, MV1,
MV2, and BV) Group III: Fixed Rate Home
Improvement Loans ( Classes AH1-AH6, MH1,
MH2, BH) Group IV: Multi-Family Loans (Class
AMF)
See "Collateral Description"
GROUP I: FIXED RATE CLASSES AF1 AND AF2: Sequential Pay Bonds.
CERTIFICATES: CLASSES AF3, AF4 AND AF5: TAC Bonds
(Targeted Amortization Classes). The TAC
Bonds will pay principal based on an
amortization schedule at the pricing speed.
CLASS AF6: Auction Rate/Companion Bond.
CLASS AF7: NAS bond.
GROUP I: CLASS AF1 The prepayment assumption is 100% PPC,
THROUGH AF7 which equates to a prepayment speed of
PREPAYMENT SPEED: 2.4% CPR in the first month, increasing
by 2.4% CPR each month to 24.0% CPR in month
10, and remaining at 24.0% CPR thereafter on
a seasoning adjusted basis
EXPECTED PRICING DATE: December 15, 1997
EXPECTED SETTLEMENT DATE: December 31, 1997, through DTC, Euroclear,
and CEDEL.
DISTRIBUTION DATES: The 15th of each month, beginning January
15, 1998
OPTIONAL CALL The master servicer may exercise a
clean-up call when the aggregate collateral
balance of all groups is less than 10% of
the original collateral balance as of the
cut-off date
TRUST TAX STATUS: REMIC trust
ERISA ELIGIBILITY: The Class AF1 through AF7 Certificates
will be ERISA eligible.
SMMEA ELIGIBILITY: The Certificates are NOT SMMEA eligible
CREDIT ENHANCEMENT: Group I: MBIA surety wrap,
overcollateralization,
cross-collateralization, subordination of
excess
LEGAL FINAL MATURITY: Class AF1: January 15, 2000
Class AF2: July 15, 2000
Class AF3: September 15, 2002
Class AF4: November 15, 2003
Class AF5: December 15, 2038
Class AF6: December 15, 2038
Class AF7: December 15, 2038
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
PAYMENT STRUCTURE
PRINCIPAL AND INTEREST COLLECTIONS (NET OF SERVICING FEE AND CONTINGENCY FEE)
WILL BE ALLOCATED IN THE FOLLOWING PRIORITY:
1. Trustee and Surety fee
2. Senior bonds (Class AF1 through AF7) current interest plus unpaid interest
shortfalls
3. Principal payments are applied as follows:
a) Pay Classes AF7 according to the following Lockout
Percentage--such Lockout Percentage is calculated on the
Class AF7 pro rata share of all principal payments:
January 1998 - December 2000 0%
January 2001 - December 2002 45%
January 2003 - December 2003 80%
January 2004 - December 2004 100%
January 2005 - 300%
b) Pay Class AF1 until retirement;
c) Pay Class AF2 until retirement;
d) Pay Class AF3 based on its Targeted Amortization Schedule;
e) Pay Class AF4 based on its Targeted Amortization Schedule;
f) Pay Class AF5 based on its Targeted Amortization Schedule;
g) Pay Class AF6 until retirement;
h) Pay Class AF3 until retirement;
i) Pay Class AF4 until retirement;
j) Pay Class AF5 until retirement; and
K) Pay Class AF7 until retirement
4. To the Residual Holder, to the extent available after covering current
monthly losses, accrued monthly interest based on a coupon of 2.50% per
annum on a notional principal balance equal to the balance of the Class AF7
Certificates, commencing on the first remittance date and concluding on the
October 1998 Remittance Date
5. Excess interest used to build overcollateralization to the target level
for the (AF1-AF7) only
6. Any excess cash flow reverts to the Residual Holder if not required
for cross-collateralization
Targeted Amortization Schedule is the pricing speed cashflow
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
CREDIT STRUCTURE
- - SURETY BOND PROVIDED BY MBIA
- - Overcollateralization ("O/C") will build through the application of net
excess interest to [3.10%] of the Original Balance of the fixed rate loans.
O/C can step-down to [6.20%] of the current balance of the fixed rate loans
after the 30th distribution date pending performance tests. The O/C is
subject to a floor of 0.50% of the Original Balance of the fixed rate
loans.
<TABLE>
<CAPTION>
AVERAGE LIFE SENSITIVITY TO CHANGES IN PREPAYMENT RATES
ASSUMES NO 10% CLEAN-UP CALL
PREPAYMENT ASSUMPTION (PPC)
- ---------------------------------------------------------------------------------------------------------
75 100 125 150 175 200
-- --- --- --- --- ---
WAL Pymnt. WAL Pymnt. WAL Pymnt. WAL Pymnt. WAL Pymnt. WAL Pymnt.
Win. Win. Win. Win. Win. Win.
==============================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class AF1 0.51 12 0.43 10 0.37 8 0.33 8 0.30 7 0.27 6
Class AF2 1.29 9 1.03 7 0.86 6 0.75 5 0.67 4 0.61 4
Class AF3 2.96 38 2.25 27 2.26 28 2.05 23 1.74 19 1.51 16
Class AF4 5.50 22 4.04 15 4.18 18 3.72 17 3.01 13 2.48 9
Class AF5 7.52 29 5.12 14 5.92 42 6.03 82 4.17 17 3.32 13
Class AF6 12.29 146 9.13 181 3.70 148 1.11 5 0.97 5 0.86 4
Class AF7 6.85 213 6.38 159 6.04 121 5.76 96 5.37 78 4.71 61
- ------------------------------------------------------------------------------------------------------------------------------
NOTE:
(1) "PPC" column notes prepayment speed ramp of The Money Store 1997-D. The
prepayment pricing speed on Class AF1 through AF7 is 100% the PPC, which
equates to a prepayment speed of 2.4% CPR in the first month, increasing by
2.4% CPR each month to 24% CPR in month 10, and remaining at 24% CPR
thereafter on a seasoning adjusted basis.
</TABLE>
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Adjustment Type Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Fixed 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Current Principal Balance Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
equals less than 25,000.00 3,412 57,906,464.41 15.09
25,000.01 - 50,000.00 2,978 106,302,838.26 27.7
50,000.01 - 75,000.00 1,388 85,198,723.56 22.2
75,000.01 - 100,000.00 549 46,961,965.43 12.24
100,000.01 - 125,000.00 301 33,730,591.99 8.79
125,000.01 - 150,000.00 171 23,222,776.47 6.05
150,000.01 - 175,000.00 65 10,502,562.23 2.74
175,000.01 - 200,000.00 37 6,919,116.45 1.8
200,000.01 - 300,000.00 44 10,408,051.26 2.71
300,000.01 - 400,000.00 5 1,721,202.52 0.45
400,000.01 - 500,000.00 2 878,994.02 0.23
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 2,183.54
Max: 448494
Average: 42,867.88
Total: 383,753,286.60
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Current Coupon Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
equals less than 7.000 6 325,337.77 0.08
7.001 - 7.500 4 478,215.87 0.12
7.501 - 8.000 5 324,933.73 0.08
8.001 - 8.500 17 1,387,432.03 0.36
8.501 - 9.000 149 11,928,233.51 3.11
9.001 - 9.500 237 17,840,713.06 4.65
9.501 - 10.000 527 41,795,672.52 10.89
10.001 - 10.500 735 44,246,049.41 11.53
10.501 - 11.000 999 55,883,643.63 14.56
11.001 - 11.500 1,015 43,297,798.91 11.28
11.501 - 12.000 1,549 57,849,363.86 15.07
12.001 - 13.000 2,124 67,949,675.50 17.71
13.001 - 14.000 1,095 28,100,449.19 7.32
14.001 - 15.000 416 10,657,644.58 2.78
15.001 greater than equals 74 1,688,123.03 0.44
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 6.00
Max: 17.99
Weighted Average: 11.39
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Original Term Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
13 - 24 1 5,000.00 0
25 - 36 3 26,302.01 0.01
37 - 48 1 18,000.00 0
49 - 60 269 3,435,969.06 0.9
61 - 72 8 117,657.23 0.03
73 - 84 95 1,722,531.21 0.45
85 - 96 16 247,452.30 0.06
97 - 108 2 42,396.12 0.01
109 - 120 1,267 25,316,217.71 6.6
121 - 132 3 46,500.00 0.01
133 - 144 26 662,533.22 0.17
145 - 156 3 86,386.35 0.02
157 - 168 2 98,727.00 0.03
169 - 180 3,901 137,911,782.90 35.94
193 - 204 2 38,100.00 0.01
205 - 216 5 436,987.35 0.11
217 - 228 1 14,500.00 0
229 - 240 684 29,242,065.79 7.62
241 - 252 2 158,800.00 0.04
253 - 264 2 97,998.42 0.03
265 - 276 1 33,000.00 0.01
289 - 300 427 18,884,829.61 4.92
313 - 324 1 55,000.00 0.01
349 - 360 2,204 162,676,258.34 42.39
469 - 480 26 2,378,291.98 0.62
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 24
Max: 480
Weighted Average: 263
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Stated Remaining Term Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
1 - 12 1 2,654.66 0
13 - 24 1 5,000.00 0
25 - 36 24 174,996.02 0.05
37 - 48 29 286,763.29 0.07
49 - 60 231 3,249,270.89 0.85
61 - 72 19 343,118.14 0.09
73 - 84 79 1,345,474.03 0.35
85 - 96 201 3,337,176.22 0.87
97 - 108 176 3,047,939.99 0.79
109 - 120 905 19,232,597.14 5.01
121 - 132 3 46,500.00 0.01
133 - 144 25 639,501.42 0.17
145 - 156 757 26,239,734.29 6.84
157 - 168 521 18,731,119.75 4.88
169 - 180 2,626 93,126,260.55 24.27
181 - 192 1 133,789.81 0.03
193 - 204 2 38,100.00 0.01
205 - 216 21 1,470,075.45 0.38
217 - 228 23 1,530,875.22 0.4
229 - 240 645 26,558,812.66 6.92
241 - 252 2 158,800.00 0.04
253 - 264 2 97,998.42 0.03
265 - 276 16 692,473.69 0.18
277 - 288 8 263,298.12 0.07
289 - 300 404 17,962,057.80 4.68
313 - 324 1 55,000.00 0.01
325 - 336 302 25,202,392.98 6.57
337 - 348 166 13,803,590.30 3.6
349 - 360 1,735 123,599,623.78 32.21
469 - 480 26 2,378,291.98 0.62
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 5
Max: 480
Weighted Average: 256
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
Number Current % by
of Principal Current
Original Combined LTV Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
equals less than 0.000 38 3,254,156.04 0.85
0.001 - 5.000 1 6,022.47 0
5.001 - 10.000 34 455,801.17 0.12
10.001 - 15.000 66 1,271,463.76 0.33
15.001 - 20.000 109 2,335,376.46 0.61
20.001 - 25.000 87 2,001,847.14 0.52
25.001 - 30.000 121 3,029,511.99 0.79
30.001 - 35.000 120 3,566,043.48 0.93
35.001 - 40.000 125 3,873,506.56 1.01
40.001 - 45.000 123 3,590,298.38 0.94
45.001 - 50.000 157 5,013,634.41 1.31
50.001 - 55.000 180 6,644,387.05 1.73
55.001 - 60.000 202 8,511,499.07 2.22
60.001 - 65.000 335 13,442,323.22 3.5
65.001 - 70.000 560 23,348,413.11 6.08
70.001 - 75.000 623 27,572,643.32 7.18
75.001 - 80.000 1,492 69,144,457.26 18.02
80.001 - 85.000 1,529 70,674,536.12 18.42
85.001 - 90.000 2,130 101,851,269.92 26.54
90.001 - 95.000 390 12,365,684.74 3.22
95.001 - 100.000 530 21,800,410.93 5.68
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Min: 3.94
Max: 100.00
Weighted Average: 78.55
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Lien Position Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
1 4,615 270,915,782.34 70.6
2 4,335 112,678,325.81 29.36
3 2 159,178.45 0.04
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Property Type Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Unknown 9 380,170.39 0.1
Detached single family 7,999 339,435,393.23 88.45
Detached PUD 29 1,419,161.63 0.37
Manufactured single wide 255 9,430,088.64 2.46
Attached PUD 10 508,726.63 0.13
Attached townhouse 65 2,651,285.39 0.69
Attached condo 104 3,741,041.01 0.97
2-4 Family 317 18,992,318.63 4.95
D-PUD 4 112,035.81 0.03
Manufactured double wide 160 7,083,065.24 1.85
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
<PAGE>
The Money Store Trust 1997-D
Collateral Analysis for Securitization
Final Fixed Pool
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Loan Purpose Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Rate/Term Refinance 3,506 212,212,248.26 55.3
Debt Consolidation 3,379 92,686,590.50 24.15
Cashout 1,393 35,567,954.08 9.27
Purchase Money 390 32,254,899.52 8.41
Unknown 241 9,938,111.01 2.59
Home Improvement 39 749,504.17 0.2
REO 3 308,469.61 0.08
Medical Bills 1 35,509.45 0.01
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Owner Occupancy Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Primary 8,364 358,044,265.91 93.3
Investment 296 13,783,794.36 3.59
Unknown 238 9,749,614.02 2.54
Second Home 53 2,141,951.28 0.56
Rental 1 33,661.03 0.01
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Documentation Level Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Full Documentation 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Geographical Distribution Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
New York 641 34,648,801.26 9.03
Pennsylvania 588 23,346,253.09 6.08
Illinois 502 22,397,436.26 5.84
Ohio 432 19,339,746.78 5.04
Florida 425 18,473,259.01 4.81
Georgia 367 17,028,750.24 4.44
Indiana 386 16,747,921.56 4.36
North Carolina 310 16,079,567.03 4.19
New Jersey 343 16,077,589.15 4.19
Michigan 379 14,377,464.69 3.75
California-Northern 290 13,968,153.65 3.64
South Carolina 285 13,372,263.92 3.48
Washington 330 13,010,405.70 3.39
California-Southern 281 12,693,788.06 3.31
Missouri 312 11,348,385.74 2.96
Arizona 198 8,284,818.46 2.16
Maryland 211 8,076,404.25 2.1
Tennessee 197 7,865,030.58 2.05
Colorado 191 7,762,599.19 2.02
Mississippi 142 5,974,869.34 1.56
Kentucky 130 5,884,668.67 1.53
Minnesota 157 5,588,817.88 1.46
New Mexico 121 5,353,871.01 1.4
Connecticut 111 5,232,813.39 1.36
Massachusetts 133 5,031,063.02 1.31
Oregon 111 4,650,359.33 1.21
Louisiana 116 4,515,342.30 1.18
Virginia 97 4,459,316.82 1.16
Nevada 127 4,199,605.39 1.09
Utah 107 3,997,326.64 1.04
Wisconsin 100 3,953,061.62 1.03
Kansas 113 3,363,706.02 0.88
Texas 59 3,180,499.09 0.83
Maine 80 2,748,095.72 0.72
Idaho 75 2,550,712.26 0.66
Iowa 83 2,459,230.02 0.64
Oklahoma 79 2,248,697.97 0.59
West Virginia 63 2,100,901.42 0.55
Nebraska 62 1,978,561.57 0.52
Rhode Island 41 1,868,334.25 0.49
New Hampshire 44 1,742,014.79 0.45
Delaware 38 1,697,840.46 0.44
District of Columbia 23 1,427,346.43 0.37
Wyoming 15 638,810.32 0.17
Vermont 14 498,401.55 0.13
Arkansas 11 487,284.54 0.13
Montana 12 321,279.04 0.08
Alaska 8 304,804.31 0.08
South Dakota 5 248,635.95 0.06
North Dakota 5 103,890.47 0.03
Alabama 1 26,799.12 0.01
California 1 17,687.27 0
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
- --------------------------------- ------ ---------------- ----------
Number Current % by
of Principal Current
Credit Rating Loans Balance Balance
- --------------------------------- ------ ---------------- ----------
Unknown 49 1,253,827.17 0.33
A 2,207 94,156,211.60 24.54
A- 2,360 113,054,784.24 29.46
B 1,173 42,467,328.35 11.07
B- 528 18,602,645.44 4.85
B+ 2,391 106,220,077.31 27.68
C 199 6,568,252.47 1.71
C- 13 502,284.32 0.13
C+ 32 927,875.70 0.24
- --------------------------------- ------ ---------------- ----------
Total: 8,952 383,753,286.60 100
- --------------------------------- ------ ---------------- ----------
This information has been prepared in connection with the issuance of securities
representing interests in the above trust, and is based in part on information
provided by The Money Store with respect to the expected characteristics of the
pool of home equity loans in which these securities will represent undivided
beneficial interests. The actual characteristics and performance of the home
equity loans will differ from the assumptions used in preparing these materials,
which are hypothetical in nature. Changes in the assumptions may have a material
impact on the information set forth in these materials. No representation is
made that any performance or return indicated herein will be achieved. For
example, it is very unlikely that the loans will prepay at a constant rate or
follow a predictable pattern. This information may not be used or otherwise
disseminated in connection with the offer or sale of these or any other
securities, except in connection with the initial offer or sale of these
securities to you to the extent set forth below. NO REPRESENTATION IS MADE AS TO
THE APPROPRIATENESS, USEFULNESS, ACCURACY OR COMPLETENESS OF THESE MATERIALS OR
THE ASSUMPTIONS ON WHICH THEY ARE BASED. Additional information is available
upon request. These materials do not constitute an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any particular trading strategy. ANY SUCH OFFER TO BUY OR SELL
ANY SECURITY WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS AND PROSPECTUS
SUPPLEMENT PREPARED BY THE ISSUER WHICH WOULD CONTAIN MATERIAL INFORMATION NOT
CONTAINED IN THESE MATERIALS. SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT WILL
CONTAIN ALL MATERIAL INFORMATION IN RESPECT OF ANY SUCH SECURITY OFFERED THEREBY
AND ANY DECISION TO INVEST IN SUCH SECURITIES SHOULD BE MADE SOLELY IN RELIANCE
UPON SUCH PROSPECTUS AND PROSPECTUS SUPPLEMENT. ANY CAPITALIZED TERMS USED BUT
NOT DEFINED HEREIN ARE TO BE READ IN CONJUNCTION WITH SUCH PROSPECTUS AND
PROSPECTUS SUPPLEMENT. In the event of any such offering, these materials,
including any description of the loans contained herein, shall be deemed
superseded, amended and supplemented in their entirety by such Prospectus and
Prospectus Supplement.
EXHIBIT 99.4
SALOMON SMITH BARNEY
COMPUTATIONAL MATERIALS
THE MONEY STORE TRUST 1997-D
SALES MEMORANDUM - SUBJECT TO REVISION
The Money Store Trust 1997-D
The Money Store Inc.
Representative and Servicer
ARM: Senior/Subordinated
$76,000,000 [ ]% Class A-2A Certificates
$37,375,000 Adjustable Rate Class M-1A Certificates(1)
$37,375,000 Adjustable Rate Class M-2A Certificates(1)
$32,500,000 Adjustable Rate Class B-1A Certificates(1)
(1) Auction Rate Certificates.
COMPUTATIONAL MATERIALS
Neither the Issuer of the Certificates nor any of its
affiliates make any representation as to the accuracy
or completeness of the information herein. The
information herein is preliminary, and will be
superseded by the applicable prospectus supplement and
by any other information subsequently filed with the
Securities and Exchange Commission. The information
addresses only certain aspects of the applicable
security's characteristics and thus does not provide a complete
assessment. As such, the information may not reflect
the impact of all structural characteristics of the
security. The assumptions underlying the information,
including structure and collateral, may be modified from
time to time to reflect changed circumstances. The
attached term sheet is not intended to be a prospectus
and any investment decision with respect to the
Certificates should be made by you based solely upon
all of the information contained in the final
prospectus. Under no circumstances shall the
information presented constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws
of such jurisdiction. The securities may not be sold
nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the
securities. All information described herein is
preliminary, limited in nature and subject to completion
or amendment. No representation is made that the above
referenced securities will actually perform as described
in any scenario presented. The Depositors have not
prepared, reviewed or participated in the preparation
hereof, are not responsible for the accuracy hereof and
have not authorized the dissemination hereof. A final
prospectus and prospectus supplement may be obtained by
contacting the Salomon Smith Barney Syndicate Desk at (212) 783-3727.
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM COLLATERAL
- -------------------------------------------------------------------------------
Current % by
Number of Principal Current
Current Principal Balance Loans Balance Balance
equals less than 25,000.00 57 1,211,421.74 0.51
25,000.01 - 50,000.00 593 23,244,120.28 9.73
50,000.01 - 75,000.00 807 50,083,357.96 20.96
75,000.01 - 100,000.00 514 44,481,687.60 18.62
100,000.01 - 125,000.00 307 34,252,760.21 14.34
125,000.01 - 150,000.00 191 25,964,721.70 10.87
150,000.01 - 175,000.00 117 18,907,061.88 7.91
175,000.01 - 200,000.00 69 12,907,725.94 5.40
200,000.01 - 300,000.00 91 21,333,939.96 8.93
300,000.01 - 400,000.00 15 5,199,309.20 2.18
400,000.01 - 500,000.00 3 1,352,038.46 0.57
- -------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -------------------------------------------------------------------------------
Min: 8,800.00
Max: 499,506.00
Average: 86,446.51
Total: 238,938,144.93
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Current % by
Number of Principal Current
Current Coupon Loans Balance Balance
equals less than 7.000 3 355,389.34 0.15
7.001 - 7.500 70 8,149,325.16 3.41
7.501 - 8.000 47 4,941,657.63 2.07
8.001 - 8.500 104 9,894,852.01 4.14
8.501 - 9.000 195 20,033,290.99 8.38
9.001 - 9.500 222 21,762,043.66 9.11
9.501 - 10.000 405 40,674,143.31 17.02
10.001 - 10.500 512 39,304,478.71 16.45
10.501 - 11.000 612 53,418,892.60 22.36
11.001 - 11.500 338 22,818,715.59 9.55
11.501 - 12.000 140 10,521,183.53 4.40
12.001 - 13.000 97 5,771,438.01 2.42
13.001 - 14.000 16 1,185,413.52 0.50
14.001 - 15.000 3 107,320.87 0.04
- -------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -------------------------------------------------------------------------------
Min: 7.00
Max: 14.50
Weighted Average: 10.14
- ------------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM COLLATERAL
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Current Coupon Loans Balance Balance
169 - 180 1 97,709.44 0.04
349 - 360 2,763 238,840,435.49 99.96
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
Min: 180
Max: 360
Weighted Average: 360
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Stated Remaining Term Loans Balance Balance
145 - 156 1 97,709.44 0.04
325 - 336 265 27,016,422.58 11.31
337 - 348 7 461,486.13 0.19
349 - 360 2,491 211,362,526.78 88.46
- -----------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -----------------------------------------------------------------------------
Min: 149
Max: 360
Weighted Average: 355
- -----------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM COLLATERAL
- -----------------------------------------------------------------------------
Current % by
Number of Principal Current
Original Combined LTV Loans Balance Balance
5.001 - 10.000 2 97,585.05 0.04
10.001 - 15.000 4 128,882.88 0.05
15.001 - 20.000 6 212,109.11 0.09
20.001 - 25.000 10 426,744.19 0.18
25.001 - 30.000 13 836,742.04 0.35
30.001 - 35.000 9 427,181.84 0.18
35.001 - 40.000 24 1,290,657.69 0.54
40.001 - 45.000 37 2,050,005.28 0.86
45.001 - 50.000 38 2,353,038.03 0.98
50.001 - 55.000 43 2,585,067.97 1.08
55.001 - 60.000 58 3,892,119.40 1.63
60.001 - 65.000 136 9,361,182.46 3.92
65.001 - 70.000 203 13,683,801.64 5.73
70.001 - 75.000 258 20,446,944.52 8.56
75.001 - 80.000 579 47,944,468.33 20.07
80.001 - 85.000 534 47,221,574.59 19.76
85.001 - 90.000 630 68,206,379.21 28.55
90.001 - 95.000 70 6,541,660.79 2.74
95.001 - 100.000 110 11,231,999.91 4.70
-----------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
Min: 8.00
Max: 100.00
Weighted Average: 80.59
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Lien Position Loans Balance Balance
1 2,761 238,612,172.47 99.86
2 3 325,972.46 0.14
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Property Type Loans Balance Balance
Unknown 2 185,244.19 0.08
Detached single family 2,416 208,157,818.32 87.12
Detached PUD 27 3,668,403.35 1.54
Manufactured single wide 37 2,235,265.71 0.94
Attached PUD 8 482,647.20 0.20
Attached townhouse 36 3,178,274.87 1.33
Attached condo 56 4,533,053.38 1.90
2-4 Family 151 14,827,884.98 6.21
Manufactured double wide 30 1,575,752.93 0.66
Manufactured triple wide 1 93,800.00 0.04
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM COLLATERAL
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Loan Purpose Loans Balance Balance
Rate/Term Refinance 1,948 169,767,960.96 71.05
Purchase Money 340 36,470,808.73 15.26
Unknown 143 14,733,306.83 6.17
Debt Consolidation 171 10,170,824.22 4.26
Cashout 161 7,750,978.21 3.24
Home Improvement 1 44,265.98 0.02
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Owner Occupancy Loans Balance Balance
Primary 2,496 215,284,916.04 90.10
Unknown 143 14,733,306.83 6.17
Investment 117 8,132,298.61 3.40
Second Home 8 787,623.45 0.33
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Credit Rating Loans Balance Balance
Unknown 6 650,403.82 0.27
A 455 43,486,648.58 18.20
A- 766 74,725,841.77 31.27
B 580 42,746,619.31 17.89
B- 254 17,835,441.99 7.46
B+ 604 53,555,916.34 22.41
C 86 4,885,710.39 2.04
C- 3 119,871.84 0.05
C+ 10 931,690.89 0.39
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Documentation Level Loans Balance Balance
Full Documentation 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM COLLATERAL
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Geographical Distribution Loans Balance Balance
Illinois 202 21,074,814.76 8.82
Ohio 213 15,262,649.29 6.39
Michigan 179 13,637,447.32 5.71
New York 120 11,669,284.63 4.88
Florida 143 11,303,373.23 4.73
Pennsylvania 147 11,020,074.05 4.61
Georgia 136 10,882,726.73 4.55
California-Northern 75 10,407,370.29 4.36
California-Southern 64 9,826,937.74 4.11
Washington 99 9,084,819.88 3.80
New Jersey 74 8,257,669.95 3.46
Indiana 133 8,084,942.28 3.38
Maryland 74 7,928,729.47 3.32
Connecticut 54 6,824,022.78 2.86
Missouri 96 6,652,584.53 2.78
North Carolina 83 6,304,731.55 2.64
Texas 66 6,158,992.72 2.58
Tennessee 74 5,889,202.82 2.46
Massachusetts 52 5,694,302.25 2.38
Colorado 50 5,249,744.57 2.20
Minnesota 64 4,788,458.22 2.00
Kentucky 59 3,892,121.28 1.63
Wisconsin 60 3,850,467.23 1.61
Virginia 43 3,817,545.52 1.60
Arizona 42 3,748,852.93 1.57
Utah 27 2,641,743.95 1.11
Nevada 23 2,271,290.35 0.95
Oregon 28 2,247,699.95 0.94
Louisiana 30 1,991,315.12 0.83
District of Columbia 17 1,984,232.90 0.83
Idaho 25 1,974,873.84 0.83
New Mexico 26 1,903,613.82 0.80
Maine 28 1,877,729.48 0.79
South Carolina 23 1,385,766.19 0.58
Delaware 14 1,226,187.56 0.51
Kansas 22 1,198,006.95 0.50
New Hampshire 12 1,049,779.77 0.44
Oklahoma 17 943,448.58 0.39
Mississippi 15 811,100.00 0.34
Rhode Island 8 759,656.41 0.32
Iowa 10 668,982.53 0.28
Wyoming 8 585,939.41 0.25
Nebraska 7 463,775.69 0.19
Montana 6 433,450.00 0.18
Vermont 5 392,959.73 0.16
Hawaii 1 231,792.69 0.10
West Virginia 4 196,303.55 0.08
Arkansas 3 193,735.85 0.08
Alaska 1 95,200.00 0.04
South Dakota 1 79,000.00 0.03
North Dakota 1 18,694.59 0.01
- -------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -------------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM COLLATERAL
- -------------------------------------------------------------------------------
Current % by
Number of Principal Current
Margin Loans Balance Balance
2.501 - 3.000 3 484,565.84 0.20
3.001 - 3.500 3 318,682.97 0.13
3.501 - 4.000 15 1,364,461.77 0.57
4.001 - 4.500 24 2,149,847.67 0.90
4.501 - 5.000 415 40,895,839.58 17.12
5.001 - 5.500 610 51,527,728.50 21.57
5.501 - 6.000 313 29,339,351.02 12.28
6.001 - 6.500 810 63,249,138.03 26.47
6.501 - 7.000 356 30,355,796.27 12.70
7.001 - 7.500 93 8,175,841.94 3.42
7.501 - 8.000 69 6,395,244.27 2.68
8.001 - 8.500 25 2,398,762.20 1.00
8.501 - 9.000 14 1,401,576.07 0.59
9.001 - 9.500 7 451,291.23 0.19
9.501 - 10.000 6 408,317.57 0.17
10.001 - 10.500 1 21,700.00 0.01
- -------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -------------------------------------------------------------------------------
Min: 2.750
Max: 10.350
Weighted Average: 5.905
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Current % by
Number of Principal Current
Maximum Rate Loans Balance Balance
5.001 - 6.000 1 94,385.31 0.04
10.001 - 11.000 3 435,044.92 0.18
11.001 - 12.000 4 277,446.36 0.12
12.001 - 13.000 5 603,810.61 0.25
13.001 - 14.000 129 14,177,508.47 5.93
14.001 - 15.000 360 35,901,605.39 15.03
15.001 - 16.000 688 66,344,416.34 27.77
16.001 - 17.000 919 74,526,426.58 31.19
17.001 - 18.000 501 35,945,194.09 15.04
18.001 - 19.000 128 8,614,629.91 3.61
19.001 - 20.000 22 1,864,234.67 0.78
20.001 - 21.000 4 153,442.28 0.06
- -------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -------------------------------------------------------------------------------
Min: 6.000
Max: 20.500
Weighted Average: 16.076
- -------------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM COLLATERAL
- ------------------------------------------------------------------------------
Current % by
Number of Principal Current
Minimum Rate Loans Balance Balance
2.001 - 3.000 3 484,565.84 0.20
3.001 - 4.000 1 173,845.71 0.07
4.001 - 5.000 7 694,698.76 0.29
5.001 - 6.000 17 1,739,580.90 0.73
6.001 - 7.000 22 2,644,708.10 1.11
7.001 - 8.000 140 15,197,577.94 6.36
8.001 - 9.000 371 37,155,017.98 15.55
9.001 - 10.000 760 75,335,550.53 31.53
10.001 - 11.000 898 69,762,927.29 29.20
11.001 - 12.000 438 29,436,856.61 12.32
12.001 - 13.000 89 5,104,970.86 2.14
13.001 - 14.000 15 1,100,523.54 0.46
14.001 - 15.000 3 107,320.87 0.04
- ------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- ------------------------------------------------------------------------------
Min: 2.750
Max: 14.500
Weighted Average: 9.862
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Current % by
Subsequent Periodic Number of Principal Current
Rate Cap Loans Balance Balance
1.000 2,423 204,387,453.44 85.54
1.500 131 14,725,328.26 6.16
2.000 207 19,591,361.37 8.20
3.000 3 234,001.86 0.10
- -------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -------------------------------------------------------------------------------
Min: 1.000
Max: 3.000
- -------------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM
COLLATERAL
- -------------------------------------------------------------------------------
Current % by
Number of Principal Current
Next Rate Adjustment Date Loans Balance Balance
1997-12 1 147,738.48 0.06
1998-01 66 6,110,977.49 2.56
1998-02 27 3,045,457.42 1.27
1998-03 81 8,387,116.80 3.51
1998-04 160 17,698,239.98 7.41
1998-05 429 38,235,161.39 16.00
1998-06 215 18,908,006.71 7.91
1998-07 2 122,053.18 0.05
1998-08 3 351,848.20 0.15
1998-09 6 727,907.11 0.30
1998-10 7 886,433.74 0.37
1998-11 2 131,829.34 0.06
1998-12 2 239,094.44 0.10
1999-04 1 188,238.43 0.08
1999-05 4 516,411.63 0.22
1999-06 5 517,597.84 0.22
1999-07 14 1,287,151.98 0.54
1999-08 45 5,063,246.40 2.12
1999-09 199 21,613,658.52 9.05
1999-10 344 31,676,221.70 13.26
1999-11 194 16,367,744.41 6.85
1999-12 13 1,009,350.00 0.42
2000-04 1 64,855.97 0.03
2000-08 4 424,154.23 0.18
2000-09 16 1,328,795.50 0.56
2000-10 4 276,019.13 0.12
2000-11 5 377,756.56 0.16
2000-12 2 113,750.00 0.05
2001-07 2 171,112.18 0.07
2001-10 48 3,722,626.51 1.56
2001-11 532 37,909,869.59 15.87
2001-12 330 21,317,720.07 8.92
- -------------------------------------------------------------------------------
Total: 2,764 238,938,144.93 100.00
- -------------------------------------------------------------------------------
Min: 1997-12-07
Max: 2001-12-01
- -------------------------------------------------------------------------------
This page must be accompanied by the disclaimer on the cover page of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<PAGE>
<TABLE>
<CAPTION>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM BONDS
----------------------------------------------------------------------------------------------------------------------------------
12% CPR 19% CPR 26% CPR 33% CPR 40% CPR
------------------- ------------------- ------------------- ------------------- --------------
<S> <C> <C> <C> <C> <C>
CLASS A-2A
Average Life(1) 4.24 years 4.25 years 4.29 YEARS 3.77 years 2.80 years
First Payment(1) 7/01 7/01 7/01 12/00 4/00
Last Payment(1) 1/03 2/03 3/03 9/02 7/01
CLASS M-1A
Average Life(1) 16.43 years 10.57 years 7.42 YEARS 5.49 years 4.13 years
First Payment(1) 6/12 3/07 6/04 9/02 7/01
Last Payment(1) 9/16 3/10 8/06 5/04 11/02
CLASS M-2A
Average Life(1) 22.47 years 15.56 years 11.15 YEARS 8.36 years 6.44 years
First Payment(1) 9/16 3/10 8/06 5/04 11/02
Last Payment(1) 3/26 8/20 11/14 12/10 4/08
CLASS B-1A
Average Life(1) 11.82 years 7.63 years 6.15 YEARS 5.41 years 4.92 years
First Payment(1) 4/03 4/01 1/01 2/01 2/01
Last Payment(1) 3/26 8/20 11/14 12/10 4/08
(1) To Maturity.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE MONEY STORE 1997-D COMPUTATIONAL MATERIALS - ARM BONDS
- ----------------------------------------------------------------------------------------------------------------------------------
BALANCE AVG. LIFE (TO MAT) FEES
<S> <C> <C> <C>
Class A-1A $466,750,000 2.00 years 0.200%
Class A-2A $76,000,000 4.29 years 0.275%
Class M-1A $37,375,000 7.42 years 0.301%
Class M-2A $37,375,000 11.15 years 0.301%
Class B-1A $32,500,000 6.15 years 0.302%
$650,000,000 0.2255%
</TABLE>
<PAGE>
EXHIBIT 99.5
LEHMAN BROTHERS
DERIVED INFORMATION
$140,000,000 CERTIFICATES
THE MONEY STORE TRUST 1997-D
Home Improvement Loans (Pool III)
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>
<TABLE>
<CAPTION>
SECURITIES OFFERED:
TO MATURITY:
- ----------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Expected Stated Expected
Approx. % of Expected WAL/MDUR Pmt. Final Final Ratings
Certificates Size Total Benchmark Price (yrs) Window S&P/Fitch
($) (months) Maturity Maturity
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-1 (1) $59,200,000 42.29% Curve 100.000% 1.17 / 1.08 30 mths 6/15/00 8/15/09 AAA/AAA
Class A-2 (1) $19,617,000 14.01% 3 Yr Tsy 100.000% 3.00 / 2.64 15 mths 8/15/01 11/15/11 AAA/AAA
Class A-3 (1) $13,963,000 9.97% Curve 100.000% 5.00 / 4.09 37 mths 8/15/04 4/15/16 AAA/AAA
Class A-4 (1) $14,320,000 10.23% 10 Yr Tsy 100.000% 10.32 / 6.91 155 mths 6/15/17 3/15/24 AAA/AAA
Class M-1 (1) $9,450,000 6.75% Curve 100.000% 7.57 / 5.40 178 mths 4/15/16 3/15/24 AA/AA
Class M-2 (1) $10,500,000 7.50% Curve 100.000% 7.55 / 5.35 170 mths 8/15/15 3/15/24 A/A
Class B (1) $12,950,000 9.25% Curve 100.000% 7.47 / 5.26 156 mths 6/15/14 3/15/24 BBB/BBB
- -----------------------------------------------------------------------------------------------------------------------------------
TO 10% CALL (2):
- -----------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Expected Stated Expected
Approx. % of Expected WAL/MDUR Pmt. Final Final Ratings
Certificates Size Total Benchmark Price (yrs) Window S&P/Fitch
($) (months) Maturity Maturity
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-4 (1) $14,320,000 10.23% 10 Yr Tsy 100.000% 7.76 / 5.76 17 mths 12/15/05 3/15/24 AAA/AAA
Class M-1(1) $9,450,000 6.75% Curve 100.000% 6.32 / 4.84 54 mths 12/15/05 3/15/24 AA/AA
Class M-2 (1) $10,500,000 7.50% Curve 100.000% 6.32 / 4.81 54 mths 12/15/05 3/15/24 A/A
Class B (1) $12,950,000 9.25% Curve 100.000% 6.32 / 4.76 54 mths 12/15/05 3/15/24 BBB/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 ("17% HEP").
(2) ASSUMES THAT POOL I FIXED RATE LOANS ARE RUN AT 24% HEP AND POOL II ARMS ARE RUN
AT 26% CPR.
</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>
<TABLE>
<CAPTION>
SENSITIVITY ANALYSIS
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY
SENSITIVITY ANALYSIS
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
% HEP 10.0% 12.0% 14.0% 17.0% 20.0% 25.0% 30.0%
CLASS A-1
Avg. Life (yrs) 1.69 1.49 1.34 1.17 1.05 0.90 0.79
Mod Duration (yrs) 1.52 1.35 1.23 1.08 0.97 0.84 0.74
Window (begin-end) (mths) 1 - 45 1 - 39 1 - 35 1 - 30 1 - 26 1 - 22 1 - 19
Expected Final Maturity 9/15/01 3/15/01 11/15/00 6/15/00 2/15/00 10/15/99 7/15/99
Yield @ 100.000% 6.55 6.53 6.51 6.48 6.46 6.42 6.38
CLASS A-2
Avg. Life (yrs) 4.54 3.97 3.52 3.00 2.61 2.14 1.82
Mod Duration (yrs) 3.80 3.38 3.04 2.64 2.32 1.94 1.66
Window (begin-end)(mths) 45 - 67 39 - 59 35 - 52 30 - 44 26 - 39 22 - 31 19 - 26
Expected Final Maturity 7/15/03 11/15/02 4/15/02 8/15/01 3/15/01 7/15/00 2/15/00
Yield @ 100.000% 6.56 6.56 6.55 6.53 6.52 6.50 6.48
CLASS A-3
Avg. Life (yrs) 7.37 6.53 5.84 5.00 4.35 3.29 2.44
Mod Duration (yrs) 5.60 5.09 4.65 4.09 3.64 2.84 2.18
Window (begin-end)(mths) 67 - 116 59 - 102 52 - 92 44 - 80 39 - 70 31 - 57 26 - 33
Expected Final Maturity 8/15/07 6/15/06 8/15/05 8/15/04 10/15/03 9/15/02 9/15/00
Yield @ 100.000% 6.80 6.79 6.79 6.78 6.77 6.75 6.73
CLASS A-4
Avg. Life (yrs) 14.17 12.89 11.76 10.32 9.12 7.53 5.76
Mod Duration (yrs) 8.48 8.00 7.54 6.91 6.34 5.52 4.40
Window (begin-end)(mths) 116 - 281 102 - 270 92 - 255 80 - 234 70 - 217 57 - 185 33 - 159
Expected Final Maturity 5/15/21 6/15/20 3/15/19 6/15/17 1/15/16 5/15/13 3/15/11
Yield @ 100.000% 7.20 7.20 7.20 7.20 7.19 7.19 7.17
CLASS M-1
Avg. Life (yrs) 10.66 9.60 8.70 7.57 6.65 5.64 5.41
Mod Duration (yrs) 6.90 6.42 5.98 5.40 4.90 4.34 4.26
Window (begin-end)(mths) 65 - 268 57 - 253 50 - 237 43 - 220 37 - 200 42 - 169 49 - 145
Expected Final Maturity 4/15/20 1/15/19 9/15/17 4/15/16 8/15/14 1/15/12 1/15/10
Yield @ 100.000% 7.33 7.33 7.32 7.32 7.31 7.31 7.31
CLASS M-2
Avg. Life (yrs) 10.63 9.58 8.68 7.55 6.63 5.55 4.99
Mod Duration (yrs) 6.82 6.35 5.92 5.35 4.85 4.25 3.94
Window (begin-end)(mths) 65 - 260 57 - 242 50 - 231 43 - 212 37 - 191 39 - 162 42 - 138
Expected Final Maturity 8/15/19 2/15/18 3/15/17 8/15/15 11/15/13 6/15/11 6/15/09
Yield @ 100.000% 7.53 7.53 7.53 7.52 7.52 7.51 7.50
- ----------------------------------------------------------------------------------------------------------------------------------
</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>
<TABLE>
<CAPTION>
SENSITIVITY ANALYSIS (CONTINUED)
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
% HEP 10.0% 12.0% 14.0% 17.0% 20.0% 25.0% 30.0%
CLASS B
Avg. Life (yrs) 10.57 9.52 8.61 7.47 6.56 5.44 4.75
Mod Duration (yrs) 6.70 6.24 5.82 5.26 4.77 4.15 3.75
Window (begin-end)(mths) 65 - 244 57 - 232 50 - 219 43 - 198 37 - 176 37 - 149 38 - 126
Expected Final Maturity 4/15/18 4/15/17 3/15/16 6/15/14 8/15/12 5/15/10 6/15/08
Yield @ 100.000% 7.83 7.83 7.83 7.82 7.81 7.80 7.80
- -----------------------------------------------------------------------------------------------------------------------------------
TO 10% CLEANUP CALL (1)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
% HEP 10.0% 12.0% 14.0% 17.0% 20.0% 25.0% 30.0%
CLASS A-4
Avg. Life (yrs) 8.46 8.29 8.10 7.76 7.32 6.58 5.27
Mod Duration (yrs) 6.14 6.05 5.95 5.76 5.50 5.05 4.16
Window (begin-end)(mths) 102 - 102 100 - 100 92 - 98 80 - 96 70 - 94 57 - 92 33 - 91
Expected Final Maturity 6/15/06 4/15/06 2/15/06 12/15/05 10/15/05 8/15/05 7/15/05
Yield @ 100.000% 7.19 7.19 7.19 7.19 7.19 7.18 7.17
CLASS M-1
Avg. Life (yrs) 7.80 7.35 6.91 6.32 5.78 5.19 5.18
Mod Duration (yrs) 5.73 5.47 5.21 4.84 4.50 4.12 4.14
Window (begin-end)(mths) 65 - 102 57 - 100 50 - 98 43 - 96 37 - 94 42 - 92 49 - 91
Expected Final Maturity 6/15/06 4/15/06 2/15/06 12/15/05 10/15/05 8/15/05 7/15/05
Yield @ 100.000% 7.32 7.32 7.32 7.31 7.31 7.30 7.30
CLASS M-2
Avg. Life (yrs) 7.80 7.35 6.91 6.32 5.78 5.11 4.78
Mod Duration (yrs) 5.69 5.43 5.17 4.81 4.47 4.04 3.83
Window (begin-end)(mths) 65 - 102 57 - 100 50 - 98 43 - 96 37 - 94 39 - 92 42 - 91
Expected Final Maturity 6/15/06 4/15/06 2/15/06 12/15/05 10/15/05 8/15/05 7/15/05
Yield @ 100.000% 7.53 7.52 7.52 7.52 7.51 7.51 7.50
CLASS B
Avg. Life (yrs) 7.80 7.35 6.91 6.32 5.78 5.07 4.61
Mod Duration (yrs) 5.62 5.37 5.11 4.76 4.42 3.97 3.67
Window (begin-end)(mths) 65 - 102 57 - 100 50 - 98 43 - 96 37 - 94 37 - 92 38 - 91
Expected Final Maturity 6/15/06 4/15/06 2/15/06 12/15/05 10/15/05 8/15/05 7/15/05
Yield @ 100.000% 7.82 7.82 7.82 7.81 7.81 7.80 7.79
- ----------------------------------------------------------------------------------------------------------------------------------
(1) ASSUMES THAT POOL I FIXED RATE LOANS ARE RUN AT 24% HEP AND POOL II ARMS ARE RUN
AT 26% CPR.
</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.
SAMPLE LOANS
TOTAL NUMBER OF LOANS 4,349
TOTAL OUTSTANDING LOAN BALANCE $79,962,306.96
BALLOON (% OF TOTAL) 0.02%
LEVEL PAY (% OF TOTAL) 99.98%
AVERAGE LOAN PRINCIPAL BALANCE $18,386.37
WEIGHTED AVERAGE COUPON 13.08%
WEIGHTED AVERAGE ORIGINAL TERM (MTHS) 224
RANGE OF ORIGINAL TERMS 1 - 60: 2.09%
61 - 120: 12.86%
121 - 180: 22.42%
181 - 240: 33.25%
241 - 300: 29.38%
WEIGHTED AVERAGE REMAINING TERM (MTHS) 223
LIEN POSITION (FIRST/SECOND/THIRD/FOURTH) 7.67% / 82.85% / 9.47% / 0.02%
PROPERTY TYPE
SINGLE FAMILY 97.73%
2-4 FAMILY 1.04%
CONDO 0.56%
OTHER 0.67%
OCCUPANCY STATUS
OWNER OCCUPIED 99.27%
INVESTMENT/SECOND HOME 0.73%
GEOGRAPHIC DISTRIBUTION
other states account individually for less than CA: 24.93%
4% of principal balance IL: 7.26%
FL: 4.69%
NY: 4.20%
PRODUCT TYPE
FHA INSURED HOME IMPROVEMENTS 15.14%
CONVENTIONAL HOME IMPROVEMENTS 84.86%
DELINQUENCY
CURRENT 99.25%
30 - 59 DAYS 0.75%
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)
