SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) MARCH 30, 1998
The Money Store Trust 1998-A and the Originators as listed below
under a Pooling and Servicing Agreement dated as of February 28,
1998 providing for the issuance of The Money Store Asset Backed
Certificates, Series 1998-A.
The Money Store Trust 1998-A
TMS Mortgage Inc.
The Money Store/D.C. Inc.
The Money Store/Kentucky Inc.
The Money Store Home Equity Corp.
The Money Store/Minnesota Inc.
(Exact name of registrant as specified in its charter)
* 333-32775 *
- -------------------------------- ----------- ------
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) ID Number)
3301 "C" STREET, SACRAMENTO, CALIFORNIA 95816
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (916) 446-5000
N/A
(Former name or former address, if changed since last report)
* See Schedule A attached hereto.
<PAGE>
Item 5. OTHER EVENTS
The Originators listed on Schedule A attached hereto, registered
issuances of up to $3,500,000,000 principal amount of TMS Asset Backed
Certificates on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, as amended (the "Act"), by a Registration Statement on
Form S-3 (Registration File No. 333-32775) (as amended, the "Registration
Statement"). Pursuant to the Registration Statement, the Originators caused the
issuance of $1,265,000,000 principal amount of The Money Store Asset Backed
Certificates, Series 1998-A (the "Certificates") by The Money Store Trust 1998-A
(the "Trust"), on March 30, 1998 (the "Closing Date"). This Current Report on
Form 8-K is being filed to file a detailed description of the Initial Mortgage
Loans contributed to the Trust, a copy of the Pooling and Servicing Agreement
referred to below and the Underwriting Agreement entered into among The Money
Store Inc., as representative (the "Representative"), the Originators and the
various Underwriters named therein.
The Certificates were issued pursuant to a pooling and servicing
agreement (the "Pooling and Servicing Agreement"), dated as of February 28, 1998
(the "Cut-Off Date"), among the Representative, the Originators and The Bank of
New York, as trustee (the "Trustee"), and consist of Class AF-1, Class AF-2,
Class AF-3, Class AF-4, Class AF-5, Class AF-6, Class AF- 7, Class AF-8, Class
AF-9, Class AV, Class AH-1, Class AH-2, Class AH-3, Class AH-4, Class AH-5,
Class MH-1, Class MH-2 and Class BH Certificates (collectively, the "Offered
Certificates"), Class X Certificates (the "Class X Certificates") and Class R-1
and Class R-2 Certificates (the "Class R Certificates"). As of the Closing Date,
the initial principal amount of each Class of Offerred Certificates was as
follows:
CLASS INITIAL PRINCIPAL AMOUNT
- ----- ------------------------
Class AF-1 Certificates $131,000,000
Class AF-2 Certificates $ 66,000,000
Class AF-3 Certificates $120,000,000
Class AF-4 Certificates $ 45,000,000
Class AF-5 Certificates $ 59,000,000
Class AF-6 Certificates $ 43,000,000
Class AF-7 Certificates $ 49,000 000
Class AF-8 Certificates $ 30,000,000
Class AF-9 Certificates $ 27,000,000
Class AV Certificates $530,000,000
Class AH-1 Certificates $ 55,523,000
Class AH-2 Certificates $ 12,685,000
Class AH-3 Certificates $ 29,307,000
Class AH-4 Certificates $ 10,406,000
Class AH-5 Certificates $ 18,510,000
Class MH-1 Certificates $ 12,375,000
Class MH-2 Certificates $ 12,581,000
Class BH Certificates $ 13,613,000
Capitalized terms not defined herein have the meanings assigned in the
Pooling and Servicing Agreement.
<PAGE>
CERTAIN CHARACTERISTICS OF POOL I
Set forth below is a description of certain characteristics of Pool I,
the Initial Pool I Mortgage Loans and the Subsequent Pool I Mortgage Loans.
Certain of the percentage columns may not sum to 100.00% due to rounding.
________________________________________________________________________________
- Cut Off Date of Tape is 3/1/98
- FIXED RATE COLLATERAL
- $457,749,038.37
________________________________________________________________________________
Number of Mortgage Loans: 8,382
Aggregate Unpaid Principal Balance: $457,749,038.37
Aggregate Original Principal Balance: $471,530,185.00
Weighted Average Gross Coupon: 10.646%
Gross Coupon Range: 7.600% - 18.990%
________________________________________________________________________________
Average Unpaid Principal Balance: $54,610.96
Average Original Principal Balance: $56,255.09
Maximum Unpaid Principal Balance: $657,686.44
Minimum Unpaid Principal Balance: $1,025.12
Maximum Original Principal Balance: $658,000.00
Minimum Original Principal Balance: $5,000.00
Weighted Avg. Stated Rem. Term (LPD to Mat/Bln Date): 256.400
Stated Rem Term Range: 5.000 - 480.000
Weighted Average Age (Original Term - Rem Term): 8.275
Age Range: 0.000 - 150.000
Weighted Average Original Term: 264.675
Original Term Range: 36.000 - 480.000
Weighted Average Combined LTV: 75.467
Combined LTV Range: 1.890% - 100.000%
Weighted Average FICO Score: 629.377
FICO Score Range: 379 - 827
* 329 Scores are not
currently available.
________________________________________________________________________________
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
7.50% * Gross Coupon *= 7.75% 70 6,399,596.56 1.40
7.75% * Gross Coupon *= 8.00% 51 4,717,319.35 1.03
8.00% * Gross Coupon *= 8.25% 47 4,720,831.89 1.03
8.25% * Gross Coupon *= 8.50% 63 5,803,557.92 1.27
8.50% * Gross Coupon *= 8.75% 121 12,387,230.15 2.71
8.75% * Gross Coupon *= 9.00% 469 39,055,678.87 8.53
9.00% * Gross Coupon *= 9.25% 154 15,228,295.49 3.33
9.25% * Gross Coupon *= 9.50% 346 28,311,249.41 6.18
9.50% * Gross Coupon *= 9.75% 400 33,267,004.27 7.27
9.75% * Gross Coupon *= 10.00% 700 56,805,599.28 12.41
10.00% * Gross Coupon *= 10.25% 180 12,339,304.73 2.70
10.25% * Gross Coupon *= 10.50% 396 25,925,201.53 5.66
10.50% * Gross Coupon *= 10.75% 414 29,349,859.14 6.41
10.75% * Gross Coupon *= 11.00% 564 35,051,730.31 7.66
11.00% * Gross Coupon *= 11.25% 258 13,089,512.65 2.86
11.25% * Gross Coupon *= 11.50% 356 16,700,236.78 3.65
11.50% * Gross Coupon *= 11.75% 348 14,260,134.12 3.12
11.75% * Gross Coupon *= 12.00% 587 20,166,559.58 4.41
12.00% * Gross Coupon *= 12.25% 349 11,311,329.53 2.47
12.25% * Gross Coupon *= 12.50% 466 14,908,713.49 3.26
12.50% * Gross Coupon *= 12.75% 289 10,188,926.40 2.23
12.75% * Gross Coupon *= 13.00% 490 14,001,912.76 3.06
13.00% * Gross Coupon *= 13.25% 235 6,451,877.69 1.41
13.25% * Gross Coupon *= 13.50% 270 7,626,634.16 1.67
13.50% * Gross Coupon *= 13.75% 157 4,525,937.32 0.99
13.75% * Gross Coupon *= 14.00% 263 6,761,539.48 1.48
14.00% * Gross Coupon *= 14.25% 72 1,971,088.43 0.43
14.25% * Gross Coupon *= 14.50% 103 2,483,343.44 0.54
14.50% * Gross Coupon *= 14.75% 40 1,154,936.43 0.25
14.75% * Gross Coupon *= 15.00% 61 1,489,712.99 0.33
15.00% * Gross Coupon *= 15.25% 9 224,292.63 0.05
15.25% * Gross Coupon *= 15.50% 15 348,761.78 0.08
15.50% * Gross Coupon *= 15.75% 4 76,779.87 0.02
15.75% * Gross Coupon *= 16.00% 14 245,125.44 0.05
16.25% * Gross Coupon *= 16.50% 3 85,788.59 0.02
16.50% * Gross Coupon *= 16.75% 3 108,971.09 0.02
16.75% * Gross Coupon *= 17.00% 5 62,913.65 0.01
17.00% * Gross Coupon *= 17.25% 1 11,726.12 0.00
17.25% * Gross Coupon *= 17.50% 6 68,911.32 0.02
17.50% * Gross Coupon *= 18.00% 1 13,663.73 0.00
18.50% * Gross Coupon *= 19.00% 2 47,250.00 0.01
_______________________________________________________________________________
Total.......... 8382 $457,749,038.37 100.00%
===============================================================================
* = Less Than
ORIGINAL TERM
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
24 * Orig. Term *= 36 3 20,200.00 0.00%
36 * Orig. Term *= 48 1 23,603.45 0.01%
48 * Orig. Term *= 60 171 2,617,362.02 0.57%
60 * Orig. Term *= 72 15 300,198.98 0.07%
72 * Orig. Term *= 84 68 1,712,620.98 0.37%
84 * Orig. Term *= 96 18 319,012.56 0.07%
96 * Orig. Term *= 108 6 183,902.00 0.04%
108 * Orig. Term *= 120 927 20,409,873.23 4.46%
120 * Orig. Term *= 132 3 70,896.59 0.02%
132 * Orig. Term *= 144 59 1,169,063.69 0.26%
144 * Orig. Term *= 156 6 137,892.70 0.03%
156 * Orig. Term *= 168 6 204,390.01 0.04%
168 * Orig. Term *= 180 3,608 172,729,228.78 37.73%
180 * Orig. Term *= 192 1 73,369.78 0.02%
192 * Orig. Term *= 204 4 147,150.00 0.03%
204 * Orig. Term *= 216 7 469,992.77 0.10%
216 * Orig. Term *= 228 1 86,500.00 0.02%
228 * Orig. Term *= 240 776 41,867,530.77 9.15%
240 * Orig. Term *= 252 2 122,396.03 0.03%
252 * Orig. Term *= 264 1 29,000.00 0.01%
288 * Orig. Term *= 300 359 17,104,185.75 3.74%
348 * Orig. Term *= 360 2,311 194,940,021.54 42.59%
468 * Orig. Term *= 480 29 3,010,646.74 0.66%
___________________________________________________________________
Total............ 8,382 457,749,038.37 100.00%
===================================================================
* = Less Than
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
1 * Rem Term *= 12 30 90,132.45 0.02%
12 * Rem Term *= 24 49 283,339.63 0.06%
24 * Rem Term *= 36 84 692,293.62 0.15%
36 * Rem Term *= 48 15 225,608.69 0.05%
48 * Rem Term *= 60 191 2,868,664.46 0.63%
60 * Rem Term *= 72 167 3,810,295.64 0.83%
72 * Rem Term *= 84 329 8,757,156.68 1.91%
84 * Rem Term *= 96 517 14,179,496.27 3.10%
96 * Rem Term *= 108 7 254,048.18 0.06%
108 * Rem Term *= 120 776 19,290,889.37 4.21%
120 * Rem Term *= 132 9 239,669.49 0.05%
132 * Rem Term *= 144 33 977,717.91 0.21%
144 * Rem Term *= 156 55 4,696,078.91 1.03%
156 * Rem Term *= 168 59 9,589,918.67 2.10%
168 * Rem Term *= 180 2,570 133,942,935.02 29.26%
180 * Rem Term *= 192 1 73,369.78 0.02%
192 * Rem Term *= 204 4 147,150.00 0.03%
204 * Rem Term *= 216 13 1,119,362.33 0.24%
216 * Rem Term *= 228 9 1,453,663.71 0.32%
228 * Rem Term *= 240 763 39,875,643.53 8.71%
240 * Rem Term *= 252 1 97,750.00 0.02%
252 * Rem Term *= 264 1 29,000.00 0.01%
276 * Rem Term *= 288 1 29,755.99 0.01%
288 * Rem Term *= 300 358 17,074,429.76 3.73%
324 * Rem Term *= 336 22 2,145,457.30 0.47%
336 * Rem Term *= 348 14 2,459,788.24 0.54%
348 * Rem Term *= 360 2,275 190,334,776.00 41.58%
468 * Rem Term *= 480 29 3,010,646.74 0.66%
___________________________________________________________________
Total............ 8,382 457,749,038.37 100.00%
===================================================================
* = Less Than
AGE OF LOAN
PercentAge of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
MortgAge Principal Principal
Age Loans Balance Balance
Age = 0 3,038 151,892,403.23 33.18%
0 * Age *= 12 4,078 261,790,547.69 57.19%
12 * Age *= 24 83 12,074,513.70 2.64%
24 * Age *= 36 66 5,894,096.45 1.29%
36 * Age *= 48 3 51,708.34 0.01%
48 * Age *= 60 6 173,392.10 0.04%
60 * Age *= 72 1 26,726.16 0.01%
72 * Age *= 84 5 106,021.20 0.02%
84 * Age *= 96 644 15,601,045.87 3.41%
96 * Age *= 108 284 6,946,976.25 1.52%
108 * Age *= 120 162 3,001,228.69 0.66%
120 * Age *= 132 1 28,430.91 0.01%
132 * Age *= 144 10 158,780.65 0.03%
144 * Age *= 156 1 3,167.13 0.00%
___________________________________________________________________
Total............ 8,382 457,749,038.37 100.00%
===================================================================
* = Less Than
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1985 1 3,167.13 0.00
1986 10 158,780.65 0.03
1987 1 28,430.91 0.01
1988 129 2,422,287.07 0.53
1989 276 6,219,243.34 1.36
1990 685 16,907,720.40 3.69
1991 4 75,000.07 0.02
1992 2 57,747.29 0.01
1993 6 173,392.10 0.04
1994 2 43,348.56 0.01
1995 57 4,569,420.31 1.00
1996 65 7,759,668.82 1.70
1997 2246 173,872,800.54 37.98
1998 4898 245,458,031.18 53.62
__________________________________________________________________________
Total................. 8382 $457,749,038.37 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
LAST PAYMENT DATE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
03/01/98 8040 439,205,565.37 95.95
04/01/98 * 342 18,543,473.00 4.05
__________________________________________________________________________
Total.................. 8382 $457,749,038.37 100.00%
==========================================================================
* First Payment Date is 5/1/98.
COMBINED LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Combined Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
0.00 * CLTV *= 5.00 6 44,029.89 0.01
5.00 * CLTV *= 10.00 80 893,188.78 0.20
10.00 * CLTV *= 15.00 174 2,573,595.87 0.56
15.00 * CLTV *= 20.00 217 3,908,409.72 0.85
20.00 * CLTV *= 25.00 202 4,735,716.21 1.03
25.00 * CLTV *= 30.00 192 5,348,777.78 1.17
30.00 * CLTV *= 35.00 177 4,835,148.22 1.06
35.00 * CLTV *= 40.00 183 5,760,668.63 1.26
40.00 * CLTV *= 45.00 183 6,670,757.19 1.46
45.00 * CLTV *= 50.00 176 7,553,642.90 1.65
50.00 * CLTV *= 55.00 218 8,587,360.04 1.88
55.00 * CLTV *= 60.00 268 14,118,733.60 3.08
60.00 * CLTV *= 65.00 393 20,530,789.45 4.49
65.00 * CLTV *= 70.00 643 33,470,512.73 7.31
70.00 * CLTV *= 75.00 667 39,357,029.77 8.60
75.00 * CLTV *= 80.00 1635 98,824,041.63 21.59
80.00 * CLTV *= 85.00 1219 83,584,660.60 18.26
85.00 * CLTV *= 90.00 1316 95,153,768.90 20.79
90.00 * CLTV *= 95.00 214 9,900,847.19 2.16
95.00 * CLTV *=100.00 219 11,897,359.27 2.60
__________________________________________________________________________
Total.................... 8382 $457,749,038.37 100.00%
==========================================================================
* = Less Than
ORIGINAL MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
0 * Balance *= 5,000 4 19,859.66 0.00
5,000 * Balance *= 10,000 200 1,654,454.91 0.36
10,000 * Balance *= 15,000 560 6,386,451.26 1.40
15,000 * Balance *= 20,000 649 10,443,948.19 2.28
20,000 * Balance *= 25,000 716 15,073,436.19 3.29
25,000 * Balance *= 30,000 732 19,053,794.89 4.16
30,000 * Balance *= 35,000 618 19,170,936.07 4.19
35,000 * Balance *= 40,000 566 20,193,551.51 4.41
40,000 * Balance *= 45,000 489 20,049,280.85 4.38
45,000 * Balance *= 50,000 472 21,772,452.32 4.76
50,000 * Balance *= 55,000 431 21,836,836.30 4.77
55,000 * Balance *= 60,000 379 21,539,109.78 4.71
60,000 * Balance *= 65,000 318 19,499,528.54 4.26
65,000 * Balance *= 70,000 278 18,396,318.79 4.02
70,000 * Balance *= 75,000 227 16,227,999.56 3.55
75,000 * Balance *= 80,000 187 14,265,726.46 3.12
80,000 * Balance *= 85,000 166 13,457,124.19 2.94
85,000 * Balance *= 90,000 130 11,246,080.57 2.46
90,000 * Balance *= 95,000 120 10,987,614.24 2.40
95,000 * Balance *= 100,000 113 10,916,610.52 2.38
100,000 * Balance *= 105,000 84 8,500,114.99 1.86
105,000 * Balance *= 110,000 90 9,620,381.80 2.10
110,000 * Balance *= 115,000 103 11,542,236.52 2.52
115,000 * Balance *= 120,000 82 9,551,482.94 2.09
120,000 * Balance *= 125,000 63 7,705,602.96 1.68
125,000 * Balance *= 130,000 58 7,308,333.52 1.60
130,000 * Balance *= 135,000 51 6,704,088.28 1.46
135,000 * Balance *= 140,000 43 5,916,910.93 1.29
140,000 * Balance *= 145,000 29 4,137,724.46 0.90
145,000 * Balance *= 150,000 33 4,891,053.88 1.07
150,000 * Balance *= 200,000 174 29,725,559.17 6.49
200,000 * Balance *= 250,000 112 25,105,250.46 5.48
250,000 * Balance *= 300,000 46 12,325,806.74 2.69
300,000 * Balance *= 350,000 21 6,838,430.54 1.49
350,000 * Balance *= 400,000 19 6,692,168.79 1.46
400,000 * Balance *= 450,000 12 5,053,084.28 1.10
450,000 * Balance *= 500,000 1 494,790.18 0.11
500,000 * Balance *= 550,000 3 1,608,423.74 0.35
550,000 * Balance *= 600,000 2 1,178,792.95 0.26
650,000 * Balance *= 700,000 1 657,686.44 0.14
__________________________________________________________________________
Total.................... 8382 457,749,038.37 100.00%
==========================================================================
* = Less Than
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
0 * Balance *= 5,000 68 238,968.49 0.05
5,000 * Balance *= 10,000 331 2,675,115.00 0.58
10,000 * Balance *= 15,000 618 7,865,692.64 1.72
15,000 * Balance *= 20,000 663 11,770,534.67 2.57
20,000 * Balance *= 25,000 730 16,542,701.71 3.61
25,000 * Balance *= 30,000 688 19,172,599.77 4.19
30,000 * Balance *= 35,000 590 19,354,015.28 4.23
35,000 * Balance *= 40,000 538 20,332,691.06 4.44
40,000 * Balance *= 45,000 460 19,700,007.50 4.30
45,000 * Balance *= 50,000 437 20,868,332.08 4.56
50,000 * Balance *= 55,000 399 20,992,930.07 4.59
55,000 * Balance *= 60,000 371 21,457,792.62 4.69
60,000 * Balance *= 65,000 301 18,896,653.07 4.13
65,000 * Balance *= 70,000 267 18,052,923.05 3.94
70,000 * Balance *= 75,000 222 16,115,271.65 3.52
75,000 * Balance *= 80,000 178 13,820,530.20 3.02
80,000 * Balance *= 85,000 161 13,297,808.13 2.91
85,000 * Balance *= 90,000 126 11,051,623.62 2.41
90,000 * Balance *= 95,000 113 10,488,087.44 2.29
95,000 * Balance *= 100,000 110 10,754,411.88 2.35
100,000 * Balance *= 105,000 81 8,313,729.43 1.82
105,000 * Balance *= 110,000 91 9,795,393.95 2.14
110,000 * Balance *= 115,000 101 11,388,929.61 2.49
115,000 * Balance *= 120,000 79 9,310,566.47 2.03
120,000 * Balance *= 125,000 61 7,496,985.74 1.64
125,000 * Balance *= 130,000 58 7,395,699.36 1.62
130,000 * Balance *= 135,000 48 6,351,796.44 1.39
135,000 * Balance *= 140,000 41 5,655,939.10 1.24
140,000 * Balance *= 145,000 29 4,137,724.46 0.90
145,000 * Balance *= 150,000 33 4,891,053.88 1.07
150,000 * Balance *= 200,000 173 29,612,055.88 6.47
200,000 * Balance *= 250,000 112 25,105,250.46 5.48
250,000 * Balance *= 300,000 46 12,325,806.74 2.69
300,000 * Balance *= 350,000 21 6,838,430.54 1.49
350,000 * Balance *= 400,000 18 6,688,208.79 1.46
400,000 * Balance *= 450,000 12 5,053,084.28 1.10
450,000 * Balance *= 500,000 1 494,790.18 0.11
500,000 * Balance *= 550,000 3 1,608,423.74 0.35
550,000 * Balance *= 600,000 2 1,178,792.95 0.26
650,000 * Balance *= 700,000 1 657,686.44 0.14
__________________________________________________________________________
Total.................... 8382 457,749,038.37 100.00%
==========================================================================
* = Less Than
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
Alaska 1 23,946.30 0.01
Alabama 3 540,105.47 0.12
Arkansas 31 1,694,048.31 0.37
Arizona 105 5,799,401.15 1.27
California 670 35,970,112.56 7.86
Colorado 114 8,213,106.94 1.79
Connecticut 135 7,392,609.91 1.61
Dist of Col 22 1,290,393.95 0.28
Delaware 51 2,856,714.35 0.62
Florida 501 27,137,992.91 5.93
Georgia 321 16,115,831.92 3.52
Hawaii 3 670,280.08 0.15
Iowa 51 1,962,915.39 0.43
Idaho 41 2,002,206.28 0.44
Illinois 337 18,265,853.41 3.99
Indiana 298 14,702,026.35 3.21
Kansas 113 4,973,720.83 1.09
Kentucky 153 8,618,790.31 1.88
Louisiana 99 4,188,916.21 0.92
Massachsetts 163 9,157,490.56 2.00
Maryland 156 9,308,174.83 2.03
Maine 75 3,110,113.91 0.68
Michigan 364 17,678,881.91 3.86
Minnesota 90 5,038,757.95 1.10
Missouri 237 9,928,439.93 2.17
Mississippi 192 9,089,124.15 1.99
Montana 16 998,715.92 0.22
North Carolina 357 23,400,286.27 5.11
North Dakota 5 141,062.74 0.03
Nebraska 48 2,245,982.06 0.49
New Hampshire 40 1,541,921.94 0.34
New Jersey 347 27,245,821.08 5.95
New Mexico 84 4,730,374.25 1.03
Nevada 40 3,261,249.55 0.71
New York 581 39,520,802.16 8.63
Ohio 420 23,502,480.90 5.13
Oklahoma 68 3,213,650.31 0.70
Oregon 67 4,260,020.96 0.93
Pennsylvania 408 20,220,064.28 4.42
Rhode Island 27 1,139,990.57 0.25
South Carolina 268 14,392,579.66 3.14
South Dakota 7 160,240.91 0.04
Tennessee 207 11,356,610.43 2.48
Texas 586 23,086,175.95 5.04
Utah 35 2,118,372.48 0.46
Virginia 119 7,525,329.10 1.64
Vermont 22 911,851.55 0.20
Washington 175 11,132,384.10 2.43
Wisconsin 68 3,057,688.48 0.67
West Virgina 46 2,122,785.52 0.46
Wyoming 15 732,641.33 0.16
__________________________________________________________________________
Total............... 8382 $457,749,038.37 100.00%
==========================================================================
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family Detached 7219 389,947,654.51 85.19
Single Wide MH 191 8,002,907.03 1.75
Double Wide MH 166 8,085,535.59 1.77
Triple Wide MH 1 76,443.38 0.02
Mixed Use 34 2,734,781.92 0.60
Townhouses 40 1,713,084.86 0.37
Condominiums 168 6,660,395.35 1.46
Deminimus PUD 1 22,800.00 0.00
PUD Detached 119 8,589,806.81 1.88
PUD Attached 16 828,968.57 0.18
2-4 Family 321 24,142,451.85 5.27
Multi-Family 29 5,321,156.66 1.16
Other 77 1,623,051.84 0.35
__________________________________________________________________________
Total............... 8382 $457,749,038.37 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 7952 434,306,808.24 94.88
Investor 382 21,260,673.99 4.64
Vacation/Second Home 48 2,181,556.14 0.48
__________________________________________________________________________
Total.................. 8382 $457,749,038.37 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Full Documentation 8382 457,749,038.37 100.00
_______________________________________________________________________________
Total.................. 8382 457,749,038.37 100.00%
===============================================================================
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Purchase 318 31,027,352.30 6.78
Refinance/No ETO 4064 307,391,729.75 67.15
Refinance/ETO 1178 36,028,439.55 7.87
Home Improvement 4 85,357.73 0.02
Debt Consolidation 1710 55,796,484.67 12.19
Other 1108 27,419,674.37 5.99
__________________________________________________________________________
Total.................. 8382 $457,749,038.37 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
LOAN TYPE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Type Loans Balance Balance
FIXED 8363 453,139,010.47 98.99
FIXED - MULTI 15 3,170,660.40 0.69
6M LIBOR-MULTI 4 1,439,367.50 0.31
__________________________________________________________________________
Total.................. 8382 $457,749,038.37 100.00%
==========================================================================
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 5373 373,390,108.47 81.57
2 3009 84,358,929.90 18.43
__________________________________________________________________________
Total............... 8382 $457,749,038.37 100.00%
==========================================================================
COLLATERAL GRADE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
A 3220 191,275,658.59 41.79
A- 2255 138,430,844.65 30.24
B+ 831 44,750,021.38 9.78
B 1380 56,622,771.97 12.37
B- 463 17,299,474.45 3.78
C+ 20 852,845.80 0.19
C 207 8,346,566.55 1.82
C- 6 170,854.98 0.04
_________________________________________________________________
Total.......... 8382 $457,749,038.37 100.00%
=================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 7820 396,738,605.26 86.67
Partially Amortizing 562 61,010,433.11 13.33
__________________________________________________________________________
Total.................. 8382 $457,749,038.37 100.00%
==========================================================================
FICO SCORE
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
FICO *= 500 1179 53,887,041.62 11.77
551 * FICO *= 600 1806 94,307,437.94 20.60
601 * FICO *= 650 2196 126,959,163.50 27.74
651 * FICO *= 700 1805 108,051,357.01 23.60
700 * FICO 1067 59,498,608.96 13.00
Not Available 329 15,045,429.34 3.29
__________________________________________________________________________
Total.................... 8382 $457,749,038.37 100.00%
==========================================================================
* = Less Than
CERTAIN CHARACTERISTICS OF POOL II
Set forth below is a description of certain characteristics of Pool
II, the Initial Pool II Mortgage Loans and the Subsequent Pool II Mortgage
Loans. Certain of the percentage columns may not sum to 100.00% due to rounding.
- --------------------------------------------------------------------------------
- Cut Off Date of Tape is 3/1/98
- ARM Collateral
- $423,119,382.46
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 4,804
Index: 1M LIBOR, 6M LIBOR, 1Y LIBOR, 1Y CMT
Lien Status: First Lien Loans
Aggregate Unpaid Principal Balance: $423,119,382.46
Aggregate Original Principal Balance: $423,542,175.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.089%
Gross Coupon Range: 7.200% - 15.000%
Weighted Average Margin (Gross): 6.294%
Gross Margin Range: 0.000% - 10.740%
Weighted Average Life Cap (Gross): 16.367%
Gross Life Cap Range: 11.750% - 28.130%
Weighted Average Life Floor (Gross): 9.750%
Gross Life Floor Range: 3.850% - 15.000%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $88,076.47
Average Original Principal Balance: $88,164.48
Maximum Unpaid Principal Balance: $524,233.80
Minimum Unpaid Principal Balance: $1,184.58
Maximum Original Principal Balance: $525,000.00
Minimum Original Principal Balance: $12,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 356.707
Stated Rem Term Range: 17.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 2.143
Age Range: 0.000 - 34.000
Weighted Average Original Term: 358.850
Original Term Range: 24.000 - 360.000
Weighted Average Original LTV: 78.707
Original LTV Range: 10.390% - 100.000%
Weighted Average Periodic Interest Cap: 1.095%
Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Initial Periodic Interest Cap: 2.655%
Initial Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Months to Interest Roll: 27.313
Months to Interest Roll Range: 1 - 48
Weighted Average Interest Roll Frequency: 6.070
Interest Frequency Range: 6 - 12
Weighted Average FICO Score: 606.651
FICO Score Range: 407 - 822
* 178 Scores are not
currently available
- --------------------------------------------------------------------------------
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
7.00% * Gross Coupon *= 7.50% 28 3,310,919.54 0.78
7.50% * Gross Coupon *= 7.75% 7 1,227,986.63 0.29
7.75% * Gross Coupon *= 8.00% 39 4,907,361.34 1.16
8.00% * Gross Coupon *= 8.25% 34 4,174,461.57 0.99
8.25% * Gross Coupon *= 8.50% 86 10,202,005.71 2.41
8.50% * Gross Coupon *= 8.75% 276 29,720,271.31 7.02
8.75% * Gross Coupon *= 9.00% 260 26,254,402.32 6.20
9.00% * Gross Coupon *= 9.25% 317 28,948,560.21 6.84
9.25% * Gross Coupon *= 9.50% 298 31,089,461.77 7.35
9.50% * Gross Coupon *= 9.75% 323 32,767,302.50 7.74
9.75% * Gross Coupon *= 10.00% 498 48,608,595.24 11.49
10.00% * Gross Coupon *= 10.25% 344 28,848,154.76 6.82
10.25% * Gross Coupon *= 10.50% 437 37,399,430.64 8.84
10.50% * Gross Coupon *= 10.75% 414 31,898,681.22 7.54
10.75% * Gross Coupon *= 11.00% 363 30,209,044.36 7.14
11.00% * Gross Coupon *= 11.25% 288 20,487,386.07 4.84
11.25% * Gross Coupon *= 11.50% 263 18,594,321.67 4.39
11.50% * Gross Coupon *= 11.75% 158 10,114,332.17 2.39
11.75% * Gross Coupon *= 12.00% 146 10,182,943.28 2.41
12.00% * Gross Coupon *= 12.25% 60 4,031,919.96 0.95
12.25% * Gross Coupon *= 12.50% 48 2,940,481.66 0.69
12.50% * Gross Coupon *= 12.75% 40 2,406,862.01 0.57
12.75% * Gross Coupon *= 13.00% 34 1,965,972.38 0.46
13.00% * Gross Coupon *= 13.25% 10 616,540.23 0.15
13.25% * Gross Coupon *= 13.50% 11 650,348.91 0.15
13.50% * Gross Coupon *= 13.75% 6 507,707.96 0.12
13.75% * Gross Coupon *= 14.00% 5 249,820.05 0.06
14.00% * Gross Coupon *= 14.25% 2 196,788.37 0.05
14.50% * Gross Coupon *= 14.75% 5 322,548.59 0.08
14.75% * Gross Coupon *= 15.00% 4 284,770.03 0.07
- -------------------------------------------------------------------------------
Total.......... 4804 $423,119,382.46 100.00%
===============================================================================
* = Less Than
ORIGINAL TERM
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
12 * Orig. Term *= 24 1 38,404.12 0.01%
72 * Orig. Term *= 84 13 1,103,093.11 0.26%
108 * Orig. Term *= 120 1 93,177.12 0.02%
168 * Orig. Term *= 180 9 815,059.83 0.19%
348 * Orig. Term *= 360 4,780 421,069,648.28 99.52%
- -------------------------------------------------------------------
Total............ 4,804 423,119,382.46 100.00%
===================================================================
* = Less Than
<PAGE>
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
12 * Rem Term *= 24 1 38,404.12 0.01%
60 * Rem Term *= 72 8 525,128.90 0.12%
72 * Rem Term *= 84 5 577,964.21 0.14%
108 * Rem Term *= 120 1 93,177.12 0.02%
156 * Rem Term *= 168 1 87,898.31 0.02%
168 * Rem Term *= 180 8 727,161.52 0.17%
324 * Rem Term *= 336 5 366,481.04 0.09%
336 * Rem Term *= 348 16 2,010,729.43 0.48%
348 * Rem Term *= 360 4,759 418,692,437.81 98.95%
- -------------------------------------------------------------------
Total............ 4,804 423,119,382.46 100.00%
===================================================================
* = Less Than
AGE OF LOAN
PercentAge of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
Age = 0 1,543 122,821,503.74 29.03%
0 * Age *= 12 3,240 297,984,892.94 70.43%
12 * Age *= 24 16 1,946,504.74 0.46%
24 * Age *= 36 5 366,481.04 0.09%
- -------------------------------------------------------------------
Total............ 4,804 423,119,382.46 100.00%
===================================================================
* = Less Than
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1995 5 366,481.04 0.09
1996 11 1,404,162.06 0.33
1997 2339 222,718,806.62 52.64
1998 2449 198,629,932.74 46.94
- --------------------------------------------------------------------------
Total................. 4804 $423,119,382.46 100.00%
==========================================================================
<PAGE>
LOAN SUMMARY STRATIFIED BY
LAST PAYMENT DATE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
03/01/98 4393 391,727,977.46 92.58
04/01/98 * 410 31,308,905.00 7.40
05/01/98 * 1 82,500.00 0.02
- --------------------------------------------------------------------------
Total.................. 4804 $423,119,382.46 100.00%
==========================================================================
* First payment dates are 5/1/98 and 6/1/98.
ORIGINAL LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
10.00 * LTV *= 15.00 6 179,000.00 0.04
15.00 * LTV *= 20.00 8 452,263.61 0.11
20.00 * LTV *= 25.00 15 505,431.47 0.12
25.00 * LTV *= 30.00 23 1,397,822.66 0.33
30.00 * LTV *= 35.00 17 930,852.77 0.22
35.00 * LTV *= 40.00 31 1,796,539.32 0.42
40.00 * LTV *= 45.00 57 3,037,563.70 0.72
45.00 * LTV *= 50.00 78 5,075,456.79 1.20
50.00 * LTV *= 55.00 95 5,697,919.98 1.35
55.00 * LTV *= 60.00 136 8,959,018.78 2.12
60.00 * LTV *= 65.00 229 17,122,724.52 4.05
65.00 * LTV *= 70.00 424 31,185,069.07 7.37
70.00 * LTV *= 75.00 566 49,090,003.30 11.60
75.00 * LTV *= 80.00 1203 109,359,268.19 25.85
80.00 * LTV *= 85.00 907 81,849,985.36 19.34
85.00 * LTV *= 90.00 946 100,614,440.54 23.78
90.00 * LTV *= 95.00 56 5,155,119.42 1.22
95.00 * LTV *=100.00 7 710,902.98 0.17
- --------------------------------------------------------------------------
Total................... 4804 $423,119,382.46 100.00%
==========================================================================
* = Less Than
DISTRIBUTION OF
MARGINS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
Margin *= 0.000 1 53,965.31 0.01
3.500 * Margin *= 4.000 9 1,013,812.61 0.24
4.000 * Margin *= 4.500 22 2,286,416.66 0.54
4.500 * Margin *= 5.000 242 25,558,298.03 6.04
5.000 * Margin *= 5.500 572 52,988,159.20 12.52
5.500 * Margin *= 6.000 747 69,630,456.46 16.46
6.000 * Margin *= 6.500 1,658 136,736,604.47 32.32
6.500 * Margin *= 7.000 811 71,054,755.89 16.79
7.000 * Margin *= 7.500 317 28,162,374.16 6.66
7.500 * Margin *= 8.000 254 21,887,103.16 5.17
8.000 * Margin *= 8.500 89 7,190,713.83 1.70
8.500 * Margin *= 9.000 51 4,080,897.81 0.96
9.000 * Margin *= 9.500 22 1,794,181.17 0.42
9.500 * Margin *= 10.000 6 469,866.26 0.11
10.000 * Margin *= 10.500 1 71,486.68 0.02
10.500 * Margin *= 11.000 2 140,290.76 0.03
- --------------------------------------------------------------------------
Total................. 4,804 $423,119,382.46 100.00%
==========================================================================
* = Less Than
<PAGE>
LOAN SUMMARY STRATIFIED BY
LIFE CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
11.500 * LIFE CAP *= 12.000 2 245,848.34 0.06
12.000 * LIFE CAP *= 12.500 1 51,945.31 0.01
13.000 * LIFE CAP *= 13.500 26 3,032,319.22 0.72
13.500 * LIFE CAP *= 14.000 39 5,188,856.81 1.23
14.000 * LIFE CAP *= 14.500 99 11,287,646.30 2.67
14.500 * LIFE CAP *= 15.000 456 47,041,308.66 11.12
15.000 * LIFE CAP *= 15.500 527 50,319,545.19 11.89
15.500 * LIFE CAP *= 16.000 679 67,637,796.70 15.99
16.000 * LIFE CAP *= 16.500 710 61,803,125.65 14.61
16.500 * LIFE CAP *= 17.000 778 65,239,763.30 15.42
17.000 * LIFE CAP *= 17.500 598 44,552,761.74 10.53
17.500 * LIFE CAP *= 18.000 440 33,486,150.18 7.91
18.000 * LIFE CAP *= 18.500 183 14,279,916.19 3.37
18.500 * LIFE CAP *= 19.000 135 9,273,746.47 2.19
19.000 * LIFE CAP *= 19.500 54 3,664,296.38 0.87
19.500 * LIFE CAP *= 20.000 30 1,836,840.31 0.43
20.000 * LIFE CAP *= 20.500 21 2,114,290.34 0.50
20.500 * LIFE CAP *= 21.000 16 1,141,025.73 0.27
21.000 * LIFE CAP *= 21.500 6 608,390.94 0.14
21.500 * LIFE CAP *= 22.000 2 152,776.81 0.04
22.500 * LIFE CAP *= 23.000 1 106,312.84 0.03
28.000 * LIFE CAP *= 28.500 1 54,719.05 0.01
- --------------------------------------------------------------------------
Total................. 4804 423,119,382.46 100.00%
==========================================================================
* = Less Than
LOAN SUMMARY STRATIFIED BY
LIFE FLOOR
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
3.500 * Life Floor *= 4.000 4 541,934.78 0.13
4.000 * Life Floor *= 4.500 1 78,375.00 0.02
4.500 * Life Floor *= 5.000 29 3,105,186.17 0.73
5.000 * Life Floor *= 5.500 31 3,564,421.61 0.84
5.500 * Life Floor *= 6.000 55 4,920,874.53 1.16
6.000 * Life Floor *= 6.500 61 6,594,356.24 1.56
6.500 * Life Floor *= 7.000 82 8,420,157.63 1.99
7.000 * Life Floor *= 7.500 86 8,343,109.33 1.97
7.500 * Life Floor *= 8.000 69 7,639,341.72 1.81
8.000 * Life Floor *= 8.500 131 15,298,306.42 3.62
8.500 * Life Floor *= 9.000 524 54,715,156.48 12.93
9.000 * Life Floor *= 9.500 588 55,745,816.93 13.17
9.500 * Life Floor *= 10.000 748 73,645,687.22 17.41
10.000 * Life Floor *= 10.500 720 60,912,357.52 14.40
10.500 * Life Floor *= 11.000 701 55,038,120.67 13.01
11.000 * Life Floor *= 11.500 511 35,029,011.02 8.28
11.500 * Life Floor *= 12.000 264 17,084,837.91 4.04
12.000 * Life Floor *= 12.500 93 5,950,225.77 1.41
12.500 * Life Floor *= 13.000 68 3,936,649.16 0.93
13.000 * Life Floor *= 13.500 18 1,096,187.14 0.26
13.500 * Life Floor *= 14.000 9 655,162.22 0.15
14.000 * Life Floor *= 14.500 2 196,788.37 0.05
14.500 * Life Floor *= 15.000 9 607,318.62 0.14
- --------------------------------------------------------------------------
Total................. 4804 423,119,382.46 100.00%
==========================================================================
* = Less Than
<PAGE>
NEXT INTEREST ROLLDATE DATE
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
04/01/98 58 $5,686,632.61 01.34
05/01/98 75 $7,994,543.10 01.89
06/01/98 91 $10,698,061.37 02.53
07/01/98 165 $15,835,020.39 03.74
08/01/98 84 $8,311,742.27 01.96
09/01/98 72 $7,943,889.65 01.88
10/01/98 3 $357,904.07 00.08
11/01/98 5 $756,918.46 00.18
12/01/98 17 $2,218,094.20 00.52
01/01/99 5 $1,065,610.34 00.25
02/01/99 8 $836,642.68 00.20
03/01/99 11 $984,999.26 00.23
04/01/99 5 $501,887.06 00.12
05/01/99 6 $498,635.81 00.12
06/01/99 28 $2,817,882.11 00.67
07/01/99 26 $2,233,114.53 00.53
08/01/99 47 $3,796,956.27 00.90
09/01/99 91 $9,038,055.31 02.14
10/01/99 160 $14,605,551.10 03.45
11/01/99 242 $23,624,674.77 05.58
12/01/99 477 $46,467,831.23 10.98
01/01/00 546 $51,830,335.71 12.25
02/01/00 355 $32,916,515.75 07.78
03/01/00 283 $25,843,608.00 06.11
04/01/00 65 $5,547,515.52 01.31
06/01/00 1 $70,326.04 00.02
07/01/00 1 $63,463.46 00.01
08/01/00 2 $214,413.96 00.05
09/01/00 3 $189,987.47 00.04
10/01/00 6 $505,031.89 00.12
11/01/00 4 $324,778.02 00.08
12/01/00 13 $1,069,960.84 00.25
01/01/01 11 $1,035,941.00 00.24
02/01/01 9 $1,147,784.27 00.27
03/01/01 21 $2,334,975.00 00.55
11/01/01 4 $281,043.51 00.07
12/01/01 2 $173,887.66 00.04
01/01/02 199 $14,513,634.48 03.43
02/01/02 442 $31,351,517.55 07.41
03/01/02 814 $61,259,790.74 14.48
04/01/02 346 $26,087,725.00 06.17
05/01/02 1 $82,500.00 00.02
- --------------------------------------------------------------------------
Total........ 4804 $423,119,382.46 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
PERIODIC CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Periodic Mortgage Principal Principal
Cap Loans Balance Balance
0.500 4 161,330.87 0.04
1.000 4192 360,472,295.75 85.19
1.500 456 46,376,782.92 10.96
2.000 143 15,273,783.61 3.61
3.000 8 802,189.31 0.19
6.000 1 33,000.00 0.01
- --------------------------------------------------------------------------
Total................. 4804 $423,119,382.46 100.00%
==========================================================================
<PAGE>
ORIGINAL MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
10,000 * Balance *= 15,000 4 53,677.88 0.01
15,000 * Balance *= 20,000 12 218,008.67 0.05
20,000 * Balance *= 25,000 53 1,242,937.01 0.29
25,000 * Balance *= 30,000 122 3,398,904.57 0.80
30,000 * Balance *= 35,000 168 5,534,603.38 1.31
35,000 * Balance *= 40,000 222 8,445,144.24 2.00
40,000 * Balance *= 45,000 234 9,994,435.25 2.36
45,000 * Balance *= 50,000 269 12,872,762.70 3.04
50,000 * Balance *= 55,000 287 15,131,447.78 3.58
55,000 * Balance *= 60,000 302 17,404,247.07 4.11
60,000 * Balance *= 65,000 287 18,014,667.64 4.26
65,000 * Balance *= 70,000 255 17,312,905.68 4.09
70,000 * Balance *= 75,000 243 17,658,858.77 4.17
75,000 * Balance *= 80,000 229 17,780,831.64 4.20
80,000 * Balance *= 85,000 212 17,511,835.71 4.14
85,000 * Balance *= 90,000 166 14,538,360.83 3.44
90,000 * Balance *= 95,000 167 15,455,740.56 3.65
95,000 * Balance *= 100,000 172 16,795,518.59 3.97
100,000 * Balance *= 105,000 132 13,544,847.88 3.20
105,000 * Balance *= 110,000 137 14,720,648.79 3.48
110,000 * Balance *= 115,000 109 12,251,335.65 2.90
115,000 * Balance *= 120,000 115 13,548,258.18 3.20
120,000 * Balance *= 125,000 84 10,301,022.08 2.43
125,000 * Balance *= 130,000 83 10,578,272.51 2.50
130,000 * Balance *= 135,000 66 8,758,913.03 2.07
135,000 * Balance *= 140,000 62 8,536,768.94 2.02
140,000 * Balance *= 145,000 69 9,847,545.43 2.33
145,000 * Balance *= 150,000 50 7,393,606.91 1.75
150,000 * Balance *= 200,000 272 47,194,779.43 11.15
200,000 * Balance *= 250,000 131 29,213,791.90 6.90
250,000 * Balance *= 300,000 57 15,384,232.86 3.64
300,000 * Balance *= 350,000 14 4,446,849.97 1.05
350,000 * Balance *= 400,000 8 3,058,559.05 0.72
400,000 * Balance *= 450,000 7 3,000,329.96 0.71
450,000 * Balance *= 500,000 3 1,450,498.12 0.34
500,000 * Balance *= 550,000 1 524,233.80 0.12
- --------------------------------------------------------------------------
Total.................... 4804 423,119,382.46 100.00%
==========================================================================
* = Less Than
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
0 * Balance *= 5,000 1 1,184.58 0.00
10,000 * Balance *= 15,000 4 53,677.88 0.01
15,000 * Balance *= 20,000 12 218,008.67 0.05
20,000 * Balance *= 25,000 53 1,242,937.01 0.29
25,000 * Balance *= 30,000 122 3,398,904.57 0.80
30,000 * Balance *= 35,000 169 5,568,702.38 1.32
35,000 * Balance *= 40,000 223 8,485,127.15 2.01
40,000 * Balance *= 45,000 233 9,954,452.34 2.35
45,000 * Balance *= 50,000 268 12,838,663.70 3.03
50,000 * Balance *= 55,000 288 15,185,937.73 3.59
55,000 * Balance *= 60,000 303 17,526,986.19 4.14
60,000 * Balance *= 65,000 285 17,897,639.31 4.23
65,000 * Balance *= 70,000 255 17,321,519.86 4.09
70,000 * Balance *= 75,000 243 17,659,809.91 4.17
75,000 * Balance *= 80,000 229 17,789,770.85 4.20
80,000 * Balance *= 85,000 212 17,515,284.76 4.14
85,000 * Balance *= 90,000 166 14,542,920.24 3.44
90,000 * Balance *= 95,000 167 15,459,085.27 3.65
95,000 * Balance *= 100,000 173 16,904,071.87 4.00
100,000 * Balance *= 105,000 130 13,345,051.58 3.15
105,000 * Balance *= 110,000 137 14,720,648.79 3.48
110,000 * Balance *= 115,000 112 12,596,163.87 2.98
115,000 * Balance *= 120,000 112 13,203,429.96 3.12
120,000 * Balance *= 125,000 84 10,301,022.08 2.43
125,000 * Balance *= 130,000 85 10,838,251.42 2.56
130,000 * Balance *= 135,000 64 8,498,934.12 2.01
135,000 * Balance *= 140,000 65 8,956,417.53 2.12
140,000 * Balance *= 145,000 66 9,427,896.84 2.23
145,000 * Balance *= 150,000 50 7,393,606.91 1.75
150,000 * Balance *= 200,000 272 47,194,779.43 11.15
200,000 * Balance *= 250,000 131 29,213,791.90 6.90
250,000 * Balance *= 300,000 57 15,384,232.86 3.64
300,000 * Balance *= 350,000 14 4,446,849.97 1.05
350,000 * Balance *= 400,000 8 3,058,559.05 0.72
400,000 * Balance *= 450,000 7 3,000,329.96 0.71
450,000 * Balance *= 500,000 3 1,450,498.12 0.34
500,000 * Balance *= 550,000 1 524,233.80 0.12
- --------------------------------------------------------------------------
Total.................... 4804 423,119,382.46 100.00%
==========================================================================
* = Less Than
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
Alaska 5 410,578.16 0.10
Arkansas 5 382,860.35 0.09
Arizona 64 5,969,021.87 1.41
California 210 28,662,086.03 6.77
Colorado 86 9,283,152.65 2.19
Connecticut 49 4,796,894.89 1.13
Dist of Col 30 3,048,263.87 0.72
Delaware 10 899,891.73 0.21
Florida 238 20,247,748.85 4.79
Georgia 163 13,583,231.83 3.21
Hawaii 4 674,684.44 0.16
Iowa 26 1,574,140.72 0.37
Idaho 44 3,658,200.71 0.86
Illinois 460 46,482,453.96 10.99
Indiana 158 10,418,626.29 2.46
Kansas 28 1,584,632.22 0.37
Kentucky 71 4,483,157.72 1.06
Louisiana 34 2,287,848.27 0.54
Massachsetts 131 15,993,183.90 3.78
Maryland 89 9,073,681.77 2.14
Maine 24 1,750,119.47 0.41
Michigan 594 46,952,653.27 11.10
Minnesota 143 11,391,887.89 2.69
Missouri 147 9,377,400.73 2.22
Mississippi 22 1,340,597.58 0.32
Montana 8 386,594.14 0.09
North Carolina 161 12,218,103.70 2.89
North Dakota 1 31,640.00 0.01
Nebraska 3 173,422.54 0.04
New Hampshire 34 2,785,549.66 0.66
New Jersey 164 17,788,604.27 4.20
New Mexico 42 4,042,396.31 0.96
Nevada 40 3,809,075.87 0.90
New York 182 18,105,190.79 4.28
Ohio 325 23,432,747.83 5.54
Oklahoma 27 1,396,148.47 0.33
Oregon 57 5,564,602.72 1.32
Pennsylvania 180 13,572,419.03 3.21
Rhode Island 10 807,597.69 0.19
South Carolina 44 3,344,315.19 0.79
South Dakota 2 88,000.00 0.02
Tennessee 99 7,206,025.63 1.70
Texas 69 6,216,524.24 1.47
Utah 80 8,730,376.60 2.06
Virginia 58 5,921,387.26 1.40
Vermont 5 316,499.04 0.07
Washington 196 19,633,997.18 4.64
Wisconsin 162 11,927,229.53 2.82
West Virgina 12 651,120.22 0.15
Wyoming 8 642,815.38 0.15
- --------------------------------------------------------------------------
Total............... 4804 $423,119,382.46 100.00%
==========================================================================
<PAGE>
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family Detached 4117 360,258,417.59 85.14
Single Wide MH 71 3,885,565.32 0.92
Double Wide MH 85 6,035,482.16 1.43
Triple Wide MH 1 119,000.00 0.03
Townhouses 34 2,924,347.75 0.69
Condominiums 103 8,443,858.41 2.00
PUD Detached 86 11,861,512.60 2.80
PUD Attached 15 1,551,299.85 0.37
2-4 Family 292 28,039,898.78 6.63
- --------------------------------------------------------------------------
Total............... 4804 $423,119,382.46 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 4542 404,202,291.21 95.53
Investor 237 16,544,143.16 3.91
Vacation/Second Home 25 2,372,948.09 0.56
- --------------------------------------------------------------------------
Total.................. 4804 $423,119,382.46 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Full Documentation 4804 423,119,382.46 100.00
- -------------------------------------------------------------------------------
Total............. 4804 423,119,382.46 100.00%
===============================================================================
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Purchase 725 77,226,697.85 18.25
Refinance/No ETO 3550 316,863,607.18 74.89
Refinance/ETO 281 14,642,932.22 3.46
Debt Consolidation 248 14,386,145.21 3.40
- --------------------------------------------------------------------------
Total.................. 4804 423,119,382.46 100.00%
==========================================================================
<PAGE>
LOAN SUMMARY STRATIFIED BY
PRODUCT
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Product Loans Balance Balance
1 YEAR CMT 30 4,398,613.66 1.04
1 YEAR LIBOR 4 543,690.93 0.13
2/28 6M LIBOR 2346 221,136,453.18 52.26
3/27 6M LIBOR 74 7,453,903.96 1.76
4/26 6M LIBOR 1808 133,750,098.94 31.61
6 MONTH LIBOR 542 55,836,621.79 13.20
- --------------------------------------------------------------------------
Total............. 4804 423,119,382.46 100.00%
==========================================================================
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
1 4804 423,119,382.46 100.00
- --------------------------------------------------------------------------
Total............... 4804 $423,119,382.46 100.00%
==========================================================================
COLLATERAL GRADE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
A 903 86,270,793.98 20.39
A- 1444 144,299,299.75 34.10
B+ 646 54,555,977.86 12.89
B 1123 90,063,815.71 21.29
B- 414 28,839,491.78 6.82
C+ 33 2,371,340.70 0.56
C 223 15,299,056.71 3.62
C- 18 1,419,605.97 0.34
- -----------------------------------------------------------------
Total.......... 4804 $423,119,382.46 100.00%
=================================================================
<PAGE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 4786 421,592,204.29 99.64
Partially Amortizing 18 1,527,178.17 0.36
- --------------------------------------------------------------------------
Total.................. 4804 $423,119,382.46 100.00%
==========================================================================
FICO SCORE
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
FICO *= 550 983 76,517,535.80 18.08
551 * FICO *= 600 1292 112,589,142.30 26.61
601 * FICO *= 650 1345 127,215,219.21 30.07
651 * FICO *= 700 721 68,767,567.64 16.25
700 * FICO 285 25,643,851.09 6.06
UNAVAILABLE FICO 178 12,386,066.42 2.93
- --------------------------------------------------------------------------
Total.................... 4804 $423,119,382.46 100.00%
==========================================================================
* = Less Than
<PAGE>
CERTAIN CHARACTERISTICS OF POOL III
Set forth below is a description of certain characteristics of Pool
III, the Initial Pool III Mortgage Loans and the Subsequent Pool III Mortgage
Loans. Certain of the percentage columns may not sum to 100.00% due to rounding.
%
No. of Current Current
Current Balance Loans Balance Balance
--------------------------- ------------- ------------------ ----------
0.01 - 5,000.00 374 1,427,007.29 0.94
5,000.01 - 10,000.00 2,079 15,852,265.43 10.45
10,000.01 - 15,000.00 1,774 22,200,545.84 14.63
15,000.01 - 20,000.00 1,158 20,229,429.50 13.33
20,000.01 - 25,000.00 1,432 33,829,327.58 22.3
25,000.01 - 30,000.00 442 12,215,564.45 8.05
30,000.01 - 35,000.00 406 13,492,581.63 8.89
35,000.01 - 40,000.00 312 11,794,324.64 7.77
40,000.01 - 45,000.00 150 6,269,542.96 4.13
45,000.01 - 50,000.00 221 10,886,247.62 7.18
50,000.01 - 55,000.00 23 1,172,034.85 0.77
55,000.01 - 60,000.00 22 1,292,266.95 0.85
60,000.01 - 65,000.00 3 193,582.92 0.13
65,000.01 - 70,000.00 4 267,581.67 0.18
70,000.01 - 75,000.00 1 74,891.62 0.05
80,000.01 - 85,000.00 1 80,500.00 0.05
90,000.01 - 95,000.00 1 93,493.00 0.06
100,000.01 - 105,000.00 1 102,258.60 0.07
120,000.01 - 125,000.00 2 249,554.45 0.16
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
Min.: 1,045
Max: 124,960
Avg.: 18,049
%
No. of Current Current
Original Balance Loans Balance Balance
- --------------------------- ------------- ------------------ ----------
0.01 - 5,000.00 287 1,099,243.62 0.72
5,000.01 - 10,000.00 2,089 15,576,481.49 10.27
10,000.01 - 15,000.00 1,815 22,347,950.30 14.73
15,000.01 - 20,000.00 1,171 20,309,426.56 13.39
20,000.01 - 25,000.00 1,444 33,986,373.35 22.4
25,000.01 - 30,000.00 447 12,299,431.35 8.11
30,000.01 - 35,000.00 408 13,515,798.33 8.91
35,000.01 - 40,000.00 306 11,531,862.31 7.6
40,000.01 - 45,000.00 159 6,628,960.41 4.37
45,000.01 - 50,000.00 222 10,901,309.22 7.19
50,000.01 - 55,000.00 23 1,172,034.85 0.77
55,000.01 - 60,000.00 22 1,292,266.95 0.85
60,000.01 - 65,000.00 3 193,582.92 0.13
65,000.01 - 70,000.00 3 197,990.42 0.13
70,000.01 - 75,000.00 2 144,482.87 0.1
80,000.01 - 85,000.00 1 80,500.00 0.05
90,000.01 - 95,000.00 1 93,493.00 0.06
100,000.01 - 105,000.00 1 102,258.60 0.07
120,000.01 - 125,000.00 2 249,554.45 0.16
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
Min.: 1,394
Max: 125,000
Avg.: 18,259
%
No. of Current Current
Gross Coupon Loans Balance Balance
- -------------------------- ------------- ------------------ ----------
8.501 - 9.000 1 8,293.10 0.01
9.001 - 9.500 4 127,248.82 0.08
9.501 - 10.000 566 11,531,980.02 7.6
10.001 - 10.500 211 4,298,174.95 2.83
10.501 - 11.000 866 13,196,934.56 8.7
11.001 - 11.500 435 6,945,417.65 4.58
11.501 - 12.000 824 15,195,784.75 10.02
12.001 - 12.500 716 10,359,484.82 6.83
12.501 - 13.000 1,258 23,553,372.92 15.52
13.001 - 13.500 479 7,872,995.53 5.19
13.501 - 14.000 1,184 24,373,949.56 16.06
14.001 - 14.500 306 6,350,546.18 4.19
14.501 - 15.000 720 15,661,565.65 10.32
15.001 - 15.500 353 5,165,364.46 3.4
15.501 - 16.000 461 6,762,289.72 4.46
16.001 *= 22 319,598.31 0.21
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
Min.: 8.990
Max: 19.900
WA: 12.961
%
No. of Current Current
Original Term Loans Balance Balance
- --------------------- ------------- ------------------ ----------
=* 60 500 3,324,440.42 2.19
61 - 120 2,213 21,638,394.42 14.26
121 - 180 2,297 35,702,525.24 23.53
181 - 240 2,096 49,215,231.98 32.44
241 - 300 1,300 41,842,408.94 27.58
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
Min.: 24.00
Max: 300.00
NZWA: 220.05
* = Less than.
%
No. of Current Current
Stated Remaining Term Loans Balance Balance
--------------------------- ------------- ------------------ ----------
=* 60 553 3,609,218.35 2.38
61 - 120 2,185 21,652,796.14 14.27
121 - 180 2,279 35,544,407.43 23.43
181 - 240 2,090 49,102,126.15 32.36
241 - 300 1,299 41,814,452.93 27.56
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
Min.: 6.00
Max: 300.00
NZWA: 217.39
* = Less than.
%
No. of Current Current
Seasoning Loans Balance Balance
- -------------------- ------------- ------------------ ----------
=* 0 4,697 84,168,061.60 55.47
1 - 6 2,895 56,331,823.32 37.13
7 - 12 137 1,815,553.32 1.2
13**= 677 9,407,562.76 6.2
Total: 8,406 151,723,001.00 100
- --------------------------------------------------------------------------------
================================================================================
Min.: 0.00
Max: 161.00
WA: 2.65
* Less than.
** More than.
%
No. of Current Current
Product Type Loans Balance Balance
- -------------------------- ------------- ------------------ ----------
FHA Secured 2,863 46,326,710.13 30.53
Home Improvement Secured 5,543 105,396,290.87 69.47
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
%
No. of Current Current
Property Type Loans Balance Balance
- --------------------------- ------------- ------------------ ----------
Single Famly 8,078 143,106,578.03 94.32
Other 152 3,725,807.38 2.46
2-4 Family 124 3,017,923.38 1.99
Multi Famly 52 1,872,692.21 1.23
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
%
No. of Current Current
Occupancy Status Loans Balance Balance
--------------------------- ------------- ------------------ ----------
Primary 8,323 149,415,664.16 98.48
Investment 74 2,100,863.96 1.38
Secondary 8 198,031.17 0.13
Unknown 1 8,441.71 0.01
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
%
No. of Current Current
Lien Position Loans Balance Balance
- --------------------------- ------------- ------------------ ----------
1 728 10,842,178.83 7.15
2 6,748 125,868,642.18 82.96
3 930 15,012,179.99 9.89
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
%
No. of Current Current
State Loans Balance Balance
AK 6 186,793.63 0.12
AL 2 16,136.73 0.01
AR 157 1,936,229.20 1.28
AZ 243 4,606,096.67 3.04
CA 1,785 43,743,717.25 28.83
CO 141 2,493,455.37 1.64
CT 41 731,419.70 0.48
DC 14 166,706.41 0.11
DE 12 159,994.33 0.11
FL 347 8,078,091.04 5.32
GA 244 5,008,438.47 3.3
HI 11 268,296.42 0.18
IA 68 895,882.59 0.59
ID 49 925,456.86 0.61
IL 594 9,863,066.50 6.5
IN 123 2,056,464.02 1.36
KS 153 2,539,909.84 1.67
KY 34 532,731.48 0.35
LA 634 6,850,352.49 4.52
MA 23 480,117.80 0.32
MD 151 2,199,375.92 1.45
ME 2 33,414.96 0.02
MI 171 3,020,555.61 1.99
MN 118 2,364,341.39 1.56
MO 258 3,659,208.23 2.41
MS 161 1,993,234.49 1.31
MT 3 27,308.69 0.02
NC 147 2,815,969.16 1.86
ND 1 8,365.47 0.01
NE 26 392,617.32 0.26
NH 4 38,393.07 0.03
NJ 232 4,062,214.76 2.68
NM 40 579,220.55 0.38
NV 219 4,695,880.70 3.1
NY 274 5,606,926.87 3.7
OH 260 3,460,266.99 2.28
OK 174 2,089,244.74 1.38
OR 85 1,668,956.64 1.1
PA 319 4,915,143.82 3.24
RI 5 94,474.60 0.06
SC 67 1,020,045.99 0.67
SD 2 27,272.00 0.02
TN 165 3,036,206.93 2
TX 360 4,945,146.84 3.26
UT 53 933,249.13 0.62
VA 119 1,635,490.61 1.08
VT 2 54,551.10 0.04
WA 171 2,856,982.09 1.88
WI 84 1,181,794.43 0.78
WV 43 615,482.83 0.41
WY 9 152,308.27 0.1
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
%
No. of Current Current
Current Delinquency (months) Loans Balance Balance
0 8,330 150,517,255.72 99.21
1 76 1,205,745.28 0.79
- --------------------------------------------------------------------------------
Total: 8,406 151,723,001.00 100
================================================================================
<PAGE>
Schedule A
State of IRS Employer
Registrant Incorporation ID Number
TMS Mortgage Inc. New Jersey 22-3217781
The Money Store/D.C. Inc. D.C. 22-2133027
The Money Store/Kentucky Inc. Kentucky 22-2459832
The Money Store Home Equity Corp. Kentucky 22-2522232
The Money Store/Minnesota Inc. Minnesota 22-3003495
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/KENTUCKY INC.
THE MONEY STORE HOME EQUITY CORP.
THE MONEY STORE/MINNESOTA INC.
By: /S/ MICHAEL H. BENOFF
Name: Michael H. Benoff
Title: Senior Vice President
Dated: April 13, 1998
