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 24, 1998
The Originators 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.
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
3301 C Street, Sacramento, California 95816
(Address of principal executive offices) (Zip Code)
Registrants' Telephone Number,
including area code: (916) 446-5000
N/A
(Former name or former address, if changed since last report)
<PAGE>
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
<PAGE>
Item 5. OTHER EVENTS
This Current Report on Form 8-K is being filed to file a copy of the
Computational Materials (as defined below) of Prudential Securities
Incorporated, Lehman Brothers Inc., First Union Capital Markets, a division of
Wheat First Securities, Morgan Stanley & Co. Incorporated, Bear, Stearns & Co.
Inc., Salomon Brothers Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and First Chicago Capital Markets, Inc. (the "Underwriters") 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 1998-
A. 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 Prudential Securities Incorporated.
99.2 Computational Materials of Lehman Brothers Inc.
99.3 Computational Materials of First Union Capital
Markets, a Division of Wheat First Securities, Inc.
99.4 Computational Materials of Morgan Stanley & Co. Incorporated
99.5 Computational Materials of Bear, Stearns & Co. Inc.
99.6 Computational Materials of Salomon Brothers Inc.
99.7 Computational Materials of Merrill Lynch, Pierce,
Fenner & Smith Incorporated
99.8 Computational Materials of First Chicago Capital Markets, 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: March 26, 1998
<PAGE>
EXHIBIT INDEX
EXHIBIT
99.1 Computational Materials of Prudential Securities Incorporated.
99.2 Computational Materials of Lehman Brothers Inc.
99.3 Computational Materials of First Union Capital
Markets, a Division of Wheat First Securities, Inc.
99.4 Computational Materials of Morgan Stanley & Co. Incorporated
99.5 Computational Materials of Bear, Stearns & Co. Inc.
99.6 Computational Materials of Salomon Brothers Inc.
99.7 Computational Materials of Merrill Lynch, Pierce,
Fenner & Smith Incorporated
99.8 Computational Materials of First Chicago Capital Markets, Inc.
EXHIBIT 99.1
Preliminary Information for The Money Store Trust 1998-A
- The Money Store Inc.
Seller and Servicer
- The Money Store Trust 1998-A
Pool I Certificates
[$131,000,000] Class AF-1 Certificates [TBD %]
[$ 66,000,000] Class AF-2 Certificates [TBD %]
[$120,000,000] Class AF-3 Certificates [TBD %]
[$ 45,000,000] Class AF-4 Certificates [TBD %]
[$ 59,000,000] Class AF-5 Certificates [TBD %]
[$ 43,000,000] Class AF-6 Certificates [TBD %]
[$ 49,000,000] Class AF-7 Certificates [TBD %]
[$ 30,000,000] Class AF-8 Certificates [TBD %]
[$ 27,000,000] Class AF-9 Certificates [TBD %]
Pool II Certificates
[$510,000,000] Class AV Certificates 1M-LIBOR + [TBD %]
Pool III Certificates (not offered herein)
Total Pool I Certificates [$570,000,000]
Total Pool II Certificates [$510,000,000]
Total Pool III Certificates [$165,000,000] (not offered herein)
The analysis in this report is accurate to the best of PSI's knowledge and is
based on information provided by the Seller. PSI makes no representations as to
the accuracy of such information provided to it by the Seller. All assumptions
and information in this report reflect PSI's judgment as of this date and are
subject to change. All analyses are based on certain assumptions noted herein
and different assumptions could yield substantially different results. You are
cautioned that there is no universally accepted method for analyzing financial
instruments. You should review the assumptions; there may be differences between
these assumptions and your actual business practices. Further, PSI does not
guarantee any results and there is no guarantee as to the liquidity of the
instruments involved in this analysis. The decision to adopt any strategy
remains your responsibility. PSI (or any of its affiliates) or their officers,
directors, analysts or employees may have positions in securities, commodities
or derivative instruments thereon referred to here, and may, as principal or
agent, buy or sell such securities, commodities or derivative instruments. In
addition, PSI may make a market in the securities referred to herein. Neither
the information nor the assumptions reflected herein shall be construed to be,
or constitute, an offer to sell or buy or a solicitation of an offer to sell or
buy any securities, commodities or derivative instruments mentioned herein. No
sale of any securities, commodities or derivative instruments should be
consumated without the purchaser first having received a prospectus and, if
required, prospectus supplement. Finally, PSI has not addressed the legal,
accounting and tax implications of the analysis with respect to you, and PSI
strongly urges you to seek advice from your counsel, accountant and tax advisor.
<PAGE>
The Money Store Trust 1998-A
Title of The Money Store Asset Backed Certificates, Series 1998-A,
Securities: Classes AF-1 through AF-9, AV, AH-1 through AH-5, MH-1, MH-2
and BH (collectively, the "Certificates").
Description of This approximately [$1,245,000,000] transaction is supported
Transaction: by three distinct collateral types.
The Class AF-1 through AF-9 Certificates (the "Pool I
Certificates") are fixed-rate bonds backed primarily by
fixed-rate home equity mortgage loans. The Pool I
Certificates are credit enhanced by a surety wrap provided
by MBIA.
Certificate Class AV (the "Pool II Certificates") is a
floating-rate bond backed primarily by adjustable-rate home
equity mortgage loans. The Pool II Certificates are credit
enhanced by a surety wrap provided by MBIA.
Certificate Classes AH-1 through AH-5, MH-1, MH-2 and BH
(the "Pool III Certificates") are fixed-rate bonds backed
primarily by fixed-rate, secured home improvement loans. The
Pool III Certificates are credit enhanced through
subordination and overcollateralization. The Pool III
Certificates are not being offered herein.
- -------------------------------------------------------------------------------
CERTIFICATE CLASSES AF-1 THROUGH AF-9 (SUPPORTED BY FIXED-RATE MORTGAGE LOANS)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Settlement Date: [March 30, 1998]
Dated Date: [March 1, 1998]
Prepayment Assumption: [24% HEP]--Actual prepayments may vary.
Class AF-1 Class AF-2 Class AF-3 Class AF-4
----------------------------------------------------------------
<S> <C> <C> <C> <C>
Moody's Rating: Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA
----------------------------------------------------------------
Approximate Size: [$131,000,000] [$66,000,000] [$120,000,000] [$45,000,000]
Avg. Life to Maturity: (app.) [0.511] [1.202] [2.057] [3.051]
Avg. Life to Call: (app.) [0.511] [1.202] [2.057] [3.051]
Coupon: [TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Expected Maturity (to call): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Stated Maturity: [12/15/07] [03/15/12] [09/15/16] [03/15/20]
</TABLE>
<TABLE>
<CAPTION>
Class AF-5 Class AF-6 Class AF-7 Class AF-8 Class AF-9
----------------------------------------------------------------------------
Moody's Rating: Aaa Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA AAA
----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Approximate Size: [$59,000,000] [$43,000,000] [$49,000,000] [$30,000,000] [$27,000,000]
Avg. Life to Maturity: (app.) [4.041] [5.539] [10.252] [4.991] [7.925]
Avg. Life to Call: (app.) [4.041] [5.539] [7.868] [4.991] [7.598]
Coupon: [TBD TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [12/15/02] [11/15/04] [06/15/14] [12/15/04] [06/15/12]
Expected Maturity (to call): [12/15/02] [11/15/04] [04/15/06] [12/15/04] [04/15/06]
Stated Maturity: [12/15/23] [12/15/25] [04/15/39] [05/15/10] [04/15/39]
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
Collateral: Approx. [$570,000,000] of first and second lien, fixed-rate
mortgage loans secured primarily by one-to-four family
residences.
Payment Delay: 14 days.
Interest Accrual Interest will accrue from the 1st day of the preceeding
Period: month until the 30th day of the preceeding month.
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 1998-A
- -------------------------------------------------------------------------------
CERTIFICATE CLASS AV (SUPPORTED BY ADJUSTABLE-RATE MORTGAGE LOANS)
- -------------------------------------------------------------------------------
Settlement Date: [March 30, 1998]
Dated Date: [March 15, 1998]
Prepayment Assumption: [26% CPR]--Actual prepayments may vary.
Class AV
--------------
Moody's Rating: Aaa
Standard & Poor's Rating: AAA
--------------
Approximate Size: [$510,000,000]
Avg. Life to Maturity: (app.) [2.965]
Avg. Life to Call: (app.) [2.761]
Coupon: [TBD]
Coupon Day Count: actual/360
Expected Maturity (to maturity): [02/15/15]
Expected Maturity (to call): [04/15/06]
Stated Maturity: [06/15/29]
- -------------------------------------------------------------------------------
Collateral: Approx. [$510,000,000] of first lien, adjustable-rate
home equity mortgage loans secured primarily by
one-to-four family residences.
Coupon Step up: If the 10% Clean-Up Call is not exercised, the coupon
on the Class AV Certificates will increase by [2x] the
Class AV margin.
Available Class AV is subject to an available funds cap equal to
Funds Cap: the weighted average gross coupon less (i) servicing
fee (50 bps), (ii) trust fees (trustee and surety fees)
and (iii) a 50 bp MBIA cushion beginning in month 8 and
thereafter. Each class is also subject to a hard cap of
[14%].
Shortfall If on any payment date the adjustable-rate certificate
Reimbursement: interest distribution amount divided by the outstanding
principal balance of the adjustable-rate loans is less
than the pass-through rate (which is subject to a
maximum rate equal to the [14%] hard cap), the amount
of such shortfall and the aggregate of such shortfalls
from previous payment dates together with accrued
interest at the pass-through rate will be carried
forward to the next payment date until paid. No
interest carryforward will be paid once the principal
balance of the related class has been reduced to zero.
Payment Delay: 0 days.
Interest Accrual: Interest will accrue from the 15th day of the
Period: preceeding month until the 14th day of the current
month. For the first accrual period, interest will
accrue from [March 15, 1998].
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 1998-A
Servicer: The Money Store Inc.
Servicing Fee: 50 basis points per annum.
Trustee: [The Bank of New York for the Pool I and Pool II
Certificates.]
Co-Trustee: [First Union for the Pool III Certificates].
Cleanup Call: The Servicer may repurchase the collateral and, as a
(All Certificate result, cause the Certificates to be called at par plus
Classes) accrued interest after the remaining balances of the
loans are less than 10% of the sum of the i) the
aggregate principal balances of the initial Home Equity
Loans (Fixed and ARMs) and initial Home Improvement
Loans as of the cut-off date and ii) the original
Pre-Funded Amount.
Prefunding Account: Approximately [25%] of the three collateral pools will
be prefunded in aggregate. It is expected that all
prefunded collateral will be delivered by [March 31,
1998].
Form of Certificates: Book entry form, same day funds (through DTC, CEDEL or
Euroclear).
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on [April 15, 1998].
ERISA
Considerations: The Certificates with ratings of AAA/Aaa or AAA/AAA
will be ERISA eligible at closing.
Taxation: REMIC.
Legal Investment: [The Class AV Certificates will be SMMEA eligible. All
other certificate classes will not be SMMEA eligible.]
Credit Enhancement: Pool I (Fixed HELs) Pool II (ARMs)
------------------- --------------
1) Excess Interest 1) Excess Interest
2) Overcollateralization 2) Overcollateralization
3) Cross-Collateralization 3) Cross-Collateralization
4) MBIA Wrap 4) MBIA Wrap
Excess Interest: Excess interest cashflows from each group will be
available as credit enhancement for the related group.
Overcollateralization: The credit enhancement provisions of the Trust are
intended to provide for limited acceleration of the
senior Certificates relative to the amortization of the
related collateral, generally in the early months of
the transaction. The accelerated amortization is
achieved by applying certain excess interest collected
on the collateral to the payment of principal on the
senior Certificates, resulting in the buildup of
overcollateralization ("O/C"). This acceleration
feature is intended to create, with respect to each
Collateral Pool, an O/C amount resulting from, and
equal to, the excess of the aggregate principal
balances of the Collateral Pool over the principal
balance of the related Certificates. Once the required
O/C level is reached, the acceleration feature will
cease, unless necessary to maintain the required O/C
level.
***All O/C Levels are preliminary and subject to
change***
Pool I Certificates:
Initial: [0.00%] Target: [3.00%] of original
Stepdown: [6.00%] of current Floor: [0.50%] of original
Pool II Certificates:
Initial: [0.00%] Target: [5.25%] of original
Stepdown: [10.50%] of current Floor: [0.50%] of original
Cross- Monthly excess spread from each of the three collateral
Collateralization: pools that would otherwise be released to the Residual
Class holder will be available to cover current monthly
losses in the other collateral pools.
Certificate Insurer Municipal Bond Investors Assurance Corporation
for Pool I and II: ("MBIA"). MBIA's claims-paying ability is rated AAA/Aaa
by Standard and Poor's and Moody's.
Certificate Insurance Timely interest and eventual principal payments on the
for Pool I and II: Pool I and Pool II Certificates will be 100% guaranteed
by MBIA.
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 1998-A
Cashflow Structure:
I. Payments are applied as follows:
Pool I: CERTIFICATE CLASSES AF-1 THROUGH AF-9 (supported by fixed-rate
home equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest without priority;
3) Principal payments are applied as follows:
A) to the Class AF-8 and then to the Class AF-9,
sequentially in that order, until the principal balance
of each such Class is retired, an amount equal to the
NAS Principal Distribution Amount (as described below)
B) to the Class AF-1, Class AF-2, Class AF-3, Class AF-4,
Class AF-5, Class AF-6, Class AF-7, Class AF-8 and
Class AF-9 Certificates, sequentially in that order,
until each such class is retired.
The NAS Principal Distribution Amount for any
remittance date will be the product of:
(i) the applicable NAS Principal Percentage (as
described below) and
(ii) the NAS Pro Rata Principal Distribution Amount (as
described below), where
NAS Principal
Remittance Dates Percentage
---------------- ----------
April 1998 - March 2001 0%
April 2001 - March 2003 45%
April 2003 - March 2004 80%
April 2004 - March 2005 100%
April 2005 and thereafter 300%
The NAS Pro Rata Principal Distribution Amount for any
payment date is the product of:
(x) a fraction, the numerator of which is the sum of the
Class AF-8 and Class AF-9 principal balances
immediately prior to such payment date and the
denominator of which is the principal balance of the
Pool I Certificates immediately prior to such payment
date; and
(y) the principal remittance amount for Pool I on such
payment date.
4) To the Residual Holder, to the extent available after
covering current monthly losses in Pool I, accrued monthly
interest based on a coupon of [2.50%] per annum on a
notional principal balance equal to the combined balance of
the Class AF-8 and Class AF-9 Certificates, commencing on
the first remittance date and concluding on the [May 1999]
Remittance Date;
5) Paydown of Certificates to the required level of
Overcollateralization;
6) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Pool II: CERTIFICATE CLASS AV (supported by adjustable-rate home
equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest to Class AV;
3) Interest shortfall carryforward plus interest thereon to
Class AV (if any);
4) Principal payments are applied as follows:
A) 100% to Class AV until Class AV is retired;
5) Paydown of Certificates to the required level of
Overcollateralization with the exception of an amount
described in payment priority #6, which is unavailable for
this purpose;
6) To the Residual Holder, to the extent available after
covering current monthly losses in Pool II, accrued monthly
interest based on a coupon of [0.25%] per annum on a
notional principal balance equal to the balance of the Class
AV Certificates, commencing on the first remittance date and
concluding on the [May 1999] Remittance Date;
7) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Prospectus: The Certificates are being offered pursuant to a Prospectus which
includes a Prospectus Supplement (together, the "Prospectus").
Complete information with respect to the Certificates and the
Collateral is contained in the Prospectus. The foregoing is
qualified in its entirety by the information appearing in the
Prospectus. To the extent that the foregoing is inconsistent with
the Prospectus, the Prospectus shall govern in all respects.
Offers to sell and solicitations of offers to buy the securities
are made only by the Prospectus. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
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 1998-A
Available Funds information on Pool II Certificates:
The Certificates are subject to the following available funds cap:
Available Funds Cap = The lesser of
i) [14.0%]; and
ii) Pool II Collateral Interest - Servicing Fee - Ongoing Trust
Fees - 50 bp MBIA cushion beginning in month 8 and
thereafter.
(Servicing Fee + Ongoing Trust Fees assumed to be [62.25bp])
AVAILABLE
DATE FUNDS CAP (30/360 Daycount)
- -----------------
4/98 9.468
5/98 9.484
6/98 9.508
7/98 9.545
8/98 9.602
9/98 9.631
10/98 9.651
11/98 9.167
12/98 9.189
1/99 9.238
2/99 9.277
3/99 9.297
4/99 9.308
5/99 9.308
6/99 9.310
7/99 9.310
8/99 9.310
9/99 9.466
10/99 9.466
11/99 9.466
12/99 9.575
1/00 9.797
2/00 10.025
3/00 10.150
4/00 10.150
5/00 10.150
6/00 10.249
7/00 10.249
8/00 10.249
9/00 10.249
10/00 10.249
11/00 10.249
12/00 10.249
1/01 10.249
2/01 10.249
3/01 10.249
4/01 10.250
5/01 10.250
6/01 10.250
7/01 10.250
8/01 10.250
9/01 10.250
10/01 10.250
11/01 10.250
12/01 10.250
1/02 10.250
2/02 10.250
3/02 10.420
4/02 10.849
5/02 10.849
6/02 10.849
7/02 10.849
8/02 10.849
9/02 10.849
10/02 10.849
11/02 10.849
12/02 10.849
1/03 10.849
2/03 10.849
3/03 10.849 and so on...
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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $131,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $131,000,000.00 BOND AF-1 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.469 6.468 6.468 6.468 6.469 6.469 6.469 6.469
99-24+ 6.436 6.442 6.440 6.438 6.435 6.433 6.432 6.430
99-25 6.404 6.415 6.411 6.408 6.401 6.398 6.395 6.391
99-25+ 6.372 6.389 6.383 6.377 6.367 6.362 6.357 6.352
99-26 6.340 6.362 6.354 6.347 6.333 6.326 6.320 6.313
99-26+ 6.308 6.336 6.326 6.317 6.300 6.291 6.283 6.274
99-27 6.276 6.309 6.298 6.287 6.266 6.255 6.246 6.235
99-27+ 6.244 6.283 6.269 6.256 6.232 6.220 6.208 6.196
99-28 6.212 6.256 6.241 6.226 6.198 6.184 6.171 6.157
99-28+ 6.180 6.230 6.212 6.196 6.164 6.149 6.134 6.118
99-29 6.148 6.203 6.184 6.166 6.131 6.113 6.097 6.079
99-29+ 6.116 6.177 6.156 6.135 6.097 6.078 6.060 6.041
99-30 6.084 6.150 6.127 6.105 6.063 6.042 6.023 6.002
99-30+ 6.052 6.124 6.099 6.075 6.030 6.007 5.985 5.963
99-31 6.020 6.098 6.071 6.045 5.996 5.971 5.948 5.924
99-31+ 5.988 6.071 6.042 6.015 5.962 5.936 5.911 5.885
100-00 5.956 6.045 6.014 5.984 5.929 5.900 5.874 5.846
100-00+ 5.924 6.018 5.986 5.954 5.895 5.865 5.837 5.808
100-01 5.892 5.992 5.957 5.924 5.861 5.830 5.800 5.769
100-01+ 5.860 5.966 5.929 5.894 5.828 5.794 5.763 5.730
100-02 5.828 5.939 5.901 5.864 5.794 5.759 5.726 5.691
100-02+ 5.797 5.913 5.873 5.834 5.760 5.723 5.689 5.652
100-03 5.765 5.887 5.844 5.804 5.727 5.688 5.652 5.614
100-03+ 5.733 5.860 5.816 5.773 5.693 5.653 5.615 5.575
100-04 5.701 5.834 5.788 5.743 5.660 5.617 5.578 5.536
100-04+ 5.669 5.808 5.760 5.713 5.626 5.582 5.541 5.498
100-05 5.637 5.782 5.731 5.683 5.592 5.547 5.504 5.459
100-05+ 5.606 5.755 5.703 5.653 5.559 5.511 5.467 5.420
100-06 5.574 5.729 5.675 5.623 5.525 5.476 5.430 5.382
100-06+ 5.542 5.703 5.647 5.593 5.492 5.441 5.394 5.343
100-07 5.510 5.676 5.619 5.563 5.458 5.406 5.357 5.304
100-07+ 5.478 5.650 5.590 5.533 5.425 5.370 5.320 5.266
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 0.511 0.622 0.578 0.542 0.484 0.460 0.439 0.419
Last Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Mod.Dur. @ 100-00 0.487 0.589 0.549 0.515 0.462 0.439 0.419 0.401
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $66,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $66,000,000.00 BOND AF-2 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.268 6.267 6.267 6.268 6.269 6.270 6.270 6.271
99-24+ 6.255 6.256 6.255 6.255 6.254 6.254 6.253 6.253
99-25 6.241 6.245 6.243 6.242 6.239 6.238 6.237 6.235
99-25+ 6.227 6.234 6.232 6.229 6.224 6.222 6.220 6.218
99-26 6.213 6.223 6.220 6.216 6.210 6.206 6.203 6.200
99-26+ 6.199 6.212 6.208 6.203 6.195 6.191 6.186 6.182
99-27 6.185 6.201 6.196 6.191 6.180 6.175 6.170 6.165
99-27+ 6.171 6.190 6.184 6.178 6.165 6.159 6.153 6.147
99-28 6.157 6.179 6.172 6.165 6.150 6.143 6.136 6.130
99-28+ 6.144 6.169 6.160 6.152 6.135 6.128 6.119 6.112
99-29 6.130 6.158 6.148 6.139 6.121 6.112 6.103 6.094
99-29+ 6.116 6.147 6.136 6.126 6.106 6.096 6.086 6.077
99-30 6.102 6.136 6.125 6.113 6.091 6.080 6.069 6.059
99-30+ 6.088 6.125 6.113 6.100 6.076 6.064 6.053 6.042
99-31 6.074 6.114 6.101 6.088 6.061 6.049 6.036 6.024
99-31+ 6.061 6.103 6.089 6.075 6.046 6.033 6.019 6.006
100-00 6.047 6.092 6.077 6.062 6.032 6.017 6.003 5.989
100-00+ 6.033 6.082 6.065 6.049 6.017 6.002 5.986 5.971
100-01 6.019 6.071 6.053 6.036 6.002 5.986 5.969 5.954
100-01+ 6.005 6.060 6.042 6.023 5.987 5.970 5.952 5.936
100-02 5.991 6.049 6.030 6.011 5.973 5.954 5.936 5.919
100-02+ 5.978 6.038 6.018 5.998 5.958 5.939 5.919 5.901
100-03 5.964 6.027 6.006 5.985 5.943 5.923 5.902 5.884
100-03+ 5.950 6.016 5.994 5.972 5.928 5.907 5.886 5.866
100-04 5.936 6.006 5.982 5.959 5.913 5.891 5.869 5.848
100-04+ 5.922 5.995 5.971 5.946 5.899 5.876 5.852 5.831
100-05 5.909 5.984 5.959 5.934 5.884 5.860 5.836 5.813
100-05+ 5.895 5.973 5.947 5.921 5.869 5.844 5.819 5.796
100-06 5.881 5.962 5.935 5.908 5.854 5.829 5.803 5.778
100-06+ 5.867 5.951 5.923 5.895 5.840 5.813 5.786 5.761
100-07 5.853 5.941 5.911 5.882 5.825 5.797 5.769 5.743
100-07+ 5.840 5.930 5.900 5.870 5.810 5.782 5.753 5.726
First Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Average Life 1.202 1.547 1.412 1.298 1.120 1.051 0.989 0.938
Last Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Mod.Dur. @ 100-00 1.124 1.431 1.311 1.210 1.050 0.988 0.931 0.885
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $120,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $120,000,000.00 BOND AF-3 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.255 6.254 6.254 6.255 6.255 6.256 6.256 6.257
99-24+ 6.247 6.247 6.247 6.247 6.246 6.246 6.246 6.246
99-25 6.238 6.241 6.240 6.239 6.238 6.237 6.236 6.235
99-25+ 6.230 6.234 6.233 6.232 6.229 6.227 6.226 6.224
99-26 6.222 6.228 6.226 6.224 6.220 6.217 6.215 6.213
99-26+ 6.213 6.222 6.219 6.216 6.211 6.208 6.205 6.202
99-27 6.205 6.215 6.212 6.208 6.202 6.198 6.195 6.191
99-27+ 6.197 6.209 6.205 6.201 6.193 6.189 6.185 6.181
99-28 6.188 6.202 6.198 6.193 6.184 6.179 6.174 6.170
99-28+ 6.180 6.196 6.190 6.185 6.175 6.170 6.164 6.159
99-29 6.172 6.189 6.183 6.178 6.166 6.160 6.154 6.148
99-29+ 6.163 6.183 6.176 6.170 6.157 6.150 6.144 6.137
99-30 6.155 6.176 6.169 6.162 6.148 6.141 6.134 6.126
99-30+ 6.147 6.170 6.162 6.154 6.139 6.131 6.123 6.116
99-31 6.139 6.163 6.155 6.147 6.130 6.122 6.113 6.105
99-31+ 6.130 6.157 6.148 6.139 6.121 6.112 6.103 6.094
100-00 6.122 6.150 6.141 6.131 6.112 6.103 6.093 6.083
100-00+ 6.114 6.144 6.134 6.124 6.103 6.093 6.083 6.072
100-01 6.105 6.137 6.127 6.116 6.094 6.084 6.073 6.061
100-01+ 6.097 6.131 6.120 6.108 6.085 6.074 6.062 6.051
100-02 6.089 6.125 6.113 6.101 6.077 6.064 6.052 6.040
100-02+ 6.080 6.118 6.105 6.093 6.068 6.055 6.042 6.029
100-03 6.072 6.112 6.098 6.085 6.059 6.045 6.032 6.018
100-03+ 6.064 6.105 6.091 6.078 6.050 6.036 6.022 6.007
100-04 6.056 6.099 6.084 6.070 6.041 6.026 6.011 5.997
100-04+ 6.047 6.092 6.077 6.062 6.032 6.017 6.001 5.986
100-05 6.039 6.086 6.070 6.055 6.023 6.007 5.991 5.975
100-05+ 6.031 6.079 6.063 6.047 6.014 5.998 5.981 5.964
100-06 6.022 6.073 6.056 6.039 6.005 5.988 5.971 5.953
100-06+ 6.014 6.067 6.049 6.032 5.996 5.979 5.961 5.943
100-07 6.006 6.060 6.042 6.024 5.987 5.969 5.950 5.932
100-07+ 5.997 6.054 6.035 6.016 5.978 5.959 5.940 5.921
First Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Average Life 2.057 2.699 2.444 2.234 1.904 1.772 1.656 1.554
Last Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Mod.Dur. @ 100-00 1.872 2.407 2.197 2.022 1.741 1.627 1.526 1.436
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $45,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $45,000,000.00 BOND AF-4 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.329 6.329 6.329 6.329 6.330 6.330 6.330 6.330
99-24+ 6.324 6.324 6.324 6.324 6.323 6.323 6.323 6.322
99-25 6.318 6.320 6.319 6.318 6.317 6.316 6.316 6.315
99-25+ 6.312 6.315 6.314 6.313 6.311 6.310 6.308 6.307
99-26 6.306 6.311 6.309 6.308 6.305 6.303 6.301 6.300
99-26+ 6.300 6.307 6.305 6.303 6.298 6.296 6.294 6.292
99-27 6.295 6.302 6.300 6.297 6.292 6.290 6.287 6.284
99-27+ 6.289 6.298 6.295 6.292 6.286 6.283 6.280 6.277
99-28 6.283 6.293 6.290 6.287 6.280 6.276 6.273 6.269
99-28+ 6.277 6.289 6.285 6.281 6.273 6.269 6.265 6.261
99-29 6.272 6.284 6.280 6.276 6.267 6.263 6.258 6.254
99-29+ 6.266 6.280 6.275 6.271 6.261 6.256 6.251 6.246
99-30 6.260 6.276 6.271 6.265 6.255 6.249 6.244 6.238
99-30+ 6.254 6.271 6.266 6.260 6.249 6.243 6.237 6.231
99-31 6.248 6.267 6.261 6.255 6.242 6.236 6.230 6.223
99-31+ 6.243 6.262 6.256 6.249 6.236 6.229 6.223 6.215
100-00 6.237 6.258 6.251 6.244 6.230 6.223 6.215 6.208
100-00+ 6.231 6.253 6.246 6.239 6.224 6.216 6.208 6.200
100-01 6.225 6.249 6.241 6.233 6.217 6.209 6.201 6.192
100-01+ 6.220 6.245 6.237 6.228 6.211 6.203 6.194 6.185
100-02 6.214 6.240 6.232 6.223 6.205 6.196 6.187 6.177
100-02+ 6.208 6.236 6.227 6.217 6.199 6.189 6.180 6.170
100-03 6.202 6.231 6.222 6.212 6.193 6.183 6.172 6.162
100-03+ 6.197 6.227 6.217 6.207 6.186 6.176 6.165 6.154
100-04 6.191 6.223 6.212 6.202 6.180 6.169 6.158 6.147
100-04+ 6.185 6.218 6.207 6.196 6.174 6.163 6.151 6.139
100-05 6.179 6.214 6.203 6.191 6.168 6.156 6.144 6.131
100-05+ 6.173 6.209 6.198 6.186 6.161 6.149 6.137 6.124
100-06 6.168 6.205 6.193 6.180 6.155 6.143 6.130 6.116
100-06+ 6.162 6.200 6.188 6.175 6.149 6.136 6.123 6.109
100-07 6.156 6.196 6.183 6.170 6.143 6.129 6.115 6.101
100-07+ 6.150 6.192 6.178 6.164 6.137 6.123 6.108 6.093
First Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Average Life 3.051 4.111 3.695 3.344 2.810 2.601 2.415 2.249
Last Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Mod.Dur. @ 100-00 2.694 3.515 3.200 2.927 2.499 2.328 2.174 2.035
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $59,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $59,000,000.00 BOND AF-5 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.481 6.481 6.481 6.481 6.481 6.481 6.481 6.481
99-24+ 6.477 6.478 6.477 6.477 6.476 6.476 6.475 6.475
99-25 6.472 6.474 6.473 6.473 6.471 6.471 6.470 6.469
99-25+ 6.468 6.471 6.470 6.469 6.466 6.465 6.464 6.463
99-26 6.463 6.467 6.466 6.464 6.462 6.460 6.459 6.457
99-26+ 6.458 6.464 6.462 6.460 6.457 6.455 6.453 6.451
99-27 6.454 6.460 6.458 6.456 6.452 6.450 6.447 6.445
99-27+ 6.449 6.457 6.454 6.452 6.447 6.444 6.442 6.439
99-28 6.445 6.453 6.451 6.448 6.442 6.439 6.436 6.433
99-28+ 6.440 6.450 6.447 6.444 6.437 6.434 6.430 6.427
99-29 6.436 6.446 6.443 6.439 6.432 6.428 6.425 6.421
99-29+ 6.431 6.443 6.439 6.435 6.427 6.423 6.419 6.415
99-30 6.427 6.439 6.435 6.431 6.423 6.418 6.413 6.409
99-30+ 6.422 6.436 6.431 6.427 6.418 6.413 6.408 6.403
99-31 6.418 6.432 6.428 6.423 6.413 6.407 6.402 6.397
99-31+ 6.413 6.429 6.424 6.419 6.408 6.402 6.396 6.390
100-00 6.409 6.425 6.420 6.414 6.403 6.397 6.391 6.384
100-00+ 6.404 6.422 6.416 6.410 6.398 6.392 6.385 6.378
100-01 6.400 6.419 6.412 6.406 6.393 6.386 6.379 6.372
100-01+ 6.395 6.415 6.409 6.402 6.388 6.381 6.374 6.366
100-02 6.391 6.412 6.405 6.398 6.384 6.376 6.368 6.360
100-02+ 6.386 6.408 6.401 6.394 6.379 6.371 6.362 6.354
100-03 6.382 6.405 6.397 6.390 6.374 6.365 6.357 6.348
100-03+ 6.377 6.401 6.393 6.385 6.369 6.360 6.351 6.342
100-04 6.373 6.398 6.390 6.381 6.364 6.355 6.346 6.336
100-04+ 6.368 6.394 6.386 6.377 6.359 6.350 6.340 6.330
100-05 6.364 6.391 6.382 6.373 6.354 6.344 6.334 6.324
100-05+ 6.359 6.387 6.378 6.369 6.349 6.339 6.329 6.318
100-06 6.355 6.384 6.374 6.365 6.345 6.334 6.323 6.312
100-06+ 6.350 6.381 6.371 6.361 6.340 6.329 6.317 6.306
100-07 6.346 6.377 6.367 6.356 6.335 6.323 6.312 6.300
100-07+ 6.341 6.374 6.363 6.352 6.330 6.318 6.306 6.294
First Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Average Life 4.041 5.496 4.914 4.438 3.697 3.397 3.138 2.913
Last Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Mod.Dur. @ 100-00 3.449 4.486 4.083 3.742 3.189 2.957 2.754 2.575
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $43,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $43,000,000.00 BOND AF-6 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.598 6.598 6.598 6.598 6.598 6.598 6.598 6.598
99-24+ 6.595 6.596 6.595 6.595 6.594 6.594 6.594 6.593
99-25 6.591 6.593 6.593 6.592 6.591 6.590 6.589 6.589
99-25+ 6.588 6.591 6.590 6.589 6.587 6.586 6.585 6.584
99-26 6.584 6.588 6.587 6.586 6.583 6.582 6.580 6.579
99-26+ 6.581 6.586 6.584 6.582 6.579 6.578 6.576 6.574
99-27 6.577 6.583 6.581 6.579 6.576 6.574 6.572 6.570
99-27+ 6.574 6.581 6.579 6.576 6.572 6.570 6.567 6.565
99-28 6.570 6.578 6.576 6.573 6.568 6.566 6.563 6.560
99-28+ 6.567 6.576 6.573 6.570 6.564 6.561 6.559 6.556
99-29 6.564 6.573 6.570 6.567 6.560 6.557 6.554 6.551
99-29+ 6.560 6.571 6.567 6.564 6.557 6.553 6.550 6.546
99-30 6.557 6.568 6.565 6.560 6.553 6.549 6.546 6.542
99-30+ 6.553 6.566 6.562 6.557 6.549 6.545 6.541 6.537
99-31 6.550 6.563 6.559 6.554 6.545 6.541 6.537 6.532
99-31+ 6.546 6.561 6.556 6.551 6.542 6.537 6.533 6.528
100-00 6.543 6.558 6.553 6.548 6.538 6.533 6.528 6.523
100-00+ 6.539 6.556 6.551 6.545 6.534 6.529 6.524 6.518
100-01 6.536 6.553 6.548 6.542 6.530 6.525 6.520 6.514
100-01+ 6.532 6.551 6.545 6.539 6.527 6.521 6.515 6.509
100-02 6.529 6.548 6.542 6.535 6.523 6.517 6.511 6.504
100-02+ 6.526 6.546 6.539 6.532 6.519 6.513 6.506 6.500
100-03 6.522 6.543 6.537 6.529 6.515 6.509 6.502 6.495
100-03+ 6.519 6.541 6.534 6.526 6.512 6.505 6.498 6.491
100-04 6.515 6.538 6.531 6.523 6.508 6.501 6.493 6.486
100-04+ 6.512 6.536 6.528 6.520 6.504 6.497 6.489 6.481
100-05 6.508 6.533 6.525 6.517 6.501 6.493 6.485 6.477
100-05+ 6.505 6.531 6.523 6.513 6.497 6.489 6.480 6.472
100-06 6.501 6.528 6.520 6.510 6.493 6.485 6.476 6.467
100-06+ 6.498 6.526 6.517 6.507 6.489 6.481 6.472 6.463
100-07 6.495 6.523 6.514 6.504 6.486 6.476 6.467 6.458
100-07+ 6.491 6.521 6.511 6.501 6.482 6.472 6.463 6.453
First Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Average Life 5.539 8.353 7.194 6.230 5.019 4.584 4.219 3.897
Last Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Mod.Dur. @ 100-00 4.501 6.222 5.547 4.952 4.144 3.837 3.572 3.333
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 7.013 7.013 7.013 7.013 7.012 7.012 7.012 7.012
99-24+ 7.010 7.011 7.011 7.011 7.010 7.010 7.009 7.008
99-25 7.008 7.009 7.009 7.009 7.008 7.007 7.006 7.005
99-25+ 7.006 7.008 7.007 7.007 7.005 7.004 7.003 7.002
99-26 7.004 7.006 7.005 7.005 7.003 7.002 7.001 6.999
99-26+ 7.002 7.004 7.003 7.002 7.000 6.999 6.998 6.996
99-27 6.999 7.002 7.001 7.000 6.998 6.997 6.995 6.993
99-27+ 6.997 7.000 6.999 6.998 6.996 6.994 6.992 6.990
99-28 6.995 6.998 6.997 6.996 6.993 6.991 6.989 6.987
99-28+ 6.993 6.996 6.995 6.994 6.991 6.989 6.986 6.984
99-29 6.990 6.995 6.993 6.992 6.988 6.986 6.984 6.981
99-29+ 6.988 6.993 6.991 6.990 6.986 6.984 6.981 6.978
99-30 6.986 6.991 6.990 6.988 6.984 6.981 6.978 6.975
99-30+ 6.984 6.989 6.988 6.986 6.981 6.978 6.975 6.972
99-31 6.982 6.987 6.986 6.984 6.979 6.976 6.972 6.969
99-31+ 6.979 6.985 6.984 6.982 6.976 6.973 6.970 6.965
100-00 6.977 6.983 6.982 6.980 6.974 6.971 6.967 6.962
100-00+ 6.975 6.982 6.980 6.978 6.972 6.968 6.964 6.959
100-01 6.973 6.980 6.978 6.976 6.969 6.965 6.961 6.956
100-01+ 6.971 6.978 6.976 6.974 6.967 6.963 6.958 6.953
100-02 6.968 6.976 6.974 6.971 6.965 6.960 6.955 6.950
100-02+ 6.966 6.974 6.972 6.969 6.962 6.958 6.953 6.947
100-03 6.964 6.972 6.970 6.967 6.960 6.955 6.950 6.944
100-03+ 6.962 6.971 6.968 6.965 6.957 6.953 6.947 6.941
100-04 6.959 6.969 6.966 6.963 6.955 6.950 6.944 6.938
100-04+ 6.957 6.967 6.964 6.961 6.953 6.947 6.941 6.935
100-05 6.955 6.965 6.962 6.959 6.950 6.945 6.939 6.932
100-05+ 6.953 6.963 6.960 6.957 6.948 6.942 6.936 6.929
100-06 6.951 6.961 6.958 6.955 6.945 6.940 6.933 6.926
100-06+ 6.948 6.960 6.956 6.953 6.943 6.937 6.930 6.923
100-07 6.946 6.958 6.954 6.951 6.941 6.934 6.927 6.919
100-07+ 6.944 6.956 6.952 6.949 6.938 6.932 6.925 6.916
First Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Average Life 10.252 13.464 12.344 11.311 9.234 8.305 7.440 6.658
Last Payment 16.208 20.792 19.042 17.542 14.958 14.208 13.625 12.792
Mod.Dur. @ 100-00 7.016 8.412 7.966 7.520 6.497 5.999 5.516 5.061
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-23 7.017 7.017 7.017 7.017 7.018 7.018 7.018 7.018
99-23+ 7.015 7.015 7.015 7.015 7.015 7.015 7.015 7.015
99-24 7.012 7.012 7.012 7.012 7.012 7.012 7.011 7.011
99-24+ 7.009 7.010 7.010 7.010 7.009 7.009 7.008 7.008
99-25 7.007 7.008 7.007 7.007 7.006 7.006 7.005 7.005
99-25+ 7.004 7.005 7.005 7.005 7.003 7.003 7.002 7.001
99-26 7.001 7.003 7.002 7.002 7.001 7.000 6.999 6.998
99-26+ 6.999 7.001 7.000 6.999 6.998 6.997 6.996 6.994
99-27 6.996 6.998 6.998 6.997 6.995 6.994 6.993 6.991
99-27+ 6.994 6.996 6.995 6.994 6.992 6.991 6.989 6.988
99-28 6.991 6.993 6.993 6.992 6.989 6.988 6.986 6.984
99-28+ 6.988 6.991 6.990 6.989 6.987 6.985 6.983 6.981
99-29 6.986 6.989 6.988 6.987 6.984 6.982 6.980 6.978
99-29+ 6.983 6.986 6.985 6.984 6.981 6.979 6.977 6.974
99-30 6.980 6.984 6.983 6.982 6.978 6.976 6.974 6.971
99-30+ 6.978 6.982 6.980 6.979 6.975 6.973 6.970 6.968
99-31 6.975 6.979 6.978 6.977 6.973 6.970 6.967 6.964
99-31+ 6.972 6.977 6.975 6.974 6.970 6.967 6.964 6.961
100-00 6.970 6.974 6.973 6.971 6.967 6.964 6.961 6.958
100-00+ 6.967 6.972 6.971 6.969 6.964 6.961 6.958 6.954
100-01 6.964 6.970 6.968 6.966 6.961 6.958 6.955 6.951
100-01+ 6.962 6.967 6.966 6.964 6.958 6.955 6.952 6.947
100-02 6.959 6.965 6.963 6.961 6.956 6.952 6.948 6.944
100-02+ 6.956 6.963 6.961 6.959 6.953 6.950 6.945 6.941
100-03 6.954 6.960 6.958 6.956 6.950 6.947 6.942 6.937
100-03+ 6.951 6.958 6.956 6.954 6.947 6.944 6.939 6.934
100-04 6.948 6.955 6.953 6.951 6.944 6.941 6.936 6.931
100-04+ 6.946 6.953 6.951 6.949 6.942 6.938 6.933 6.927
100-05 6.943 6.951 6.948 6.946 6.939 6.935 6.930 6.924
100-05+ 6.941 6.948 6.946 6.943 6.936 6.932 6.926 6.921
100-06 6.938 6.946 6.944 6.941 6.933 6.929 6.923 6.917
100-06+ 6.935 6.944 6.941 6.938 6.930 6.926 6.920 6.914
First Payment 6.625 9.125 8.708 8.125 5.875 5.375 4.875 4.458
Average Life 7.868 9.125 8.708 8.288 7.296 6.828 6.315 5.856
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 99-31 5.867 6.547 6.329 6.103 5.534 5.251 4.932 4.637
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $30,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $30,000,000.00 BOND AF-8 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.359 6.359 6.359 6.359 6.359 6.359 6.359 6.359
99-24+ 6.355 6.355 6.355 6.355 6.355 6.355 6.355 6.355
99-25 6.351 6.352 6.352 6.352 6.351 6.351 6.351 6.351
99-25+ 6.348 6.348 6.348 6.348 6.347 6.347 6.347 6.347
99-26 6.344 6.345 6.344 6.344 6.344 6.343 6.343 6.343
99-26+ 6.340 6.341 6.341 6.340 6.340 6.339 6.339 6.339
99-27 6.336 6.338 6.337 6.337 6.336 6.336 6.335 6.335
99-27+ 6.333 6.334 6.334 6.333 6.332 6.332 6.331 6.331
99-28 6.329 6.331 6.330 6.329 6.328 6.328 6.327 6.327
99-28+ 6.325 6.327 6.326 6.326 6.324 6.324 6.323 6.323
99-29 6.321 6.324 6.323 6.322 6.321 6.320 6.319 6.319
99-29+ 6.317 6.320 6.319 6.318 6.317 6.316 6.315 6.315
99-30 6.314 6.316 6.316 6.315 6.313 6.312 6.311 6.311
99-30+ 6.310 6.313 6.312 6.311 6.309 6.308 6.307 6.307
99-31 6.306 6.309 6.308 6.307 6.305 6.304 6.303 6.302
99-31+ 6.302 6.306 6.305 6.304 6.301 6.300 6.299 6.298
100-00 6.299 6.302 6.301 6.300 6.298 6.296 6.295 6.294
100-00+ 6.295 6.299 6.298 6.296 6.294 6.293 6.291 6.290
100-01 6.291 6.295 6.294 6.293 6.290 6.289 6.287 6.286
100-01+ 6.287 6.292 6.290 6.289 6.286 6.285 6.283 6.282
100-02 6.284 6.288 6.287 6.285 6.282 6.281 6.280 6.278
100-02+ 6.280 6.285 6.283 6.281 6.278 6.277 6.276 6.274
100-03 6.276 6.281 6.280 6.278 6.275 6.273 6.272 6.270
100-03+ 6.272 6.278 6.276 6.274 6.271 6.269 6.268 6.266
100-04 6.269 6.274 6.272 6.270 6.267 6.265 6.264 6.262
100-04+ 6.265 6.271 6.269 6.267 6.263 6.261 6.260 6.258
100-05 6.261 6.267 6.265 6.263 6.259 6.257 6.256 6.254
100-05+ 6.257 6.264 6.262 6.259 6.255 6.254 6.252 6.250
100-06 6.254 6.260 6.258 6.256 6.252 6.250 6.248 6.246
100-06+ 6.250 6.256 6.254 6.252 6.248 6.246 6.244 6.242
100-07 6.246 6.253 6.251 6.248 6.244 6.242 6.240 6.238
100-07+ 6.242 6.249 6.247 6.245 6.240 6.238 6.236 6.234
First Payment 3.042 3.042 3.042 3.042 3.042 3.042 3.042 3.042
Average Life 4.991 5.390 5.255 5.116 4.879 4.776 4.682 4.594
Last Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Mod.Dur. @ 100-00 4.132 4.404 4.312 4.218 4.053 3.981 3.915 3.853
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.512 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.509 6.509 6.509 6.508
99-26 6.506 6.507 6.507 6.506 6.506 6.506 6.506 6.506
99-26+ 6.504 6.504 6.504 6.504 6.504 6.503 6.503 6.503
99-27 6.501 6.502 6.502 6.501 6.501 6.501 6.500 6.500
99-27+ 6.499 6.499 6.499 6.499 6.498 6.498 6.498 6.498
99-28 6.496 6.497 6.497 6.496 6.496 6.495 6.495 6.495
99-28+ 6.493 6.495 6.494 6.494 6.493 6.493 6.492 6.492
99-29 6.491 6.492 6.492 6.491 6.490 6.490 6.490 6.489
99-29+ 6.488 6.490 6.489 6.489 6.488 6.487 6.487 6.487
99-30 6.486 6.487 6.487 6.486 6.485 6.485 6.484 6.484
99-30+ 6.483 6.485 6.484 6.483 6.482 6.482 6.482 6.481
99-31 6.480 6.482 6.482 6.481 6.480 6.479 6.479 6.478
99-31+ 6.478 6.480 6.479 6.478 6.477 6.477 6.476 6.476
100-00 6.475 6.477 6.477 6.476 6.475 6.474 6.473 6.473
100-00+ 6.473 6.475 6.474 6.473 6.472 6.471 6.471 6.470
100-01 6.470 6.472 6.472 6.471 6.469 6.469 6.468 6.468
100-01+ 6.467 6.470 6.469 6.468 6.467 6.466 6.465 6.465
100-02 6.465 6.468 6.467 6.466 6.464 6.463 6.463 6.462
100-02+ 6.462 6.465 6.464 6.463 6.461 6.461 6.460 6.459
100-03 6.460 6.463 6.462 6.461 6.459 6.458 6.457 6.457
100-03+ 6.457 6.460 6.459 6.458 6.456 6.455 6.455 6.454
100-04 6.454 6.458 6.457 6.455 6.454 6.453 6.452 6.451
100-04+ 6.452 6.455 6.454 6.453 6.451 6.450 6.449 6.448
100-05 6.449 6.453 6.452 6.450 6.448 6.447 6.447 6.446
100-05+ 6.447 6.450 6.449 6.448 6.446 6.445 6.444 6.443
100-06 6.444 6.448 6.447 6.445 6.443 6.442 6.441 6.440
100-06+ 6.442 6.445 6.444 6.443 6.440 6.439 6.439 6.438
100-07 6.439 6.443 6.442 6.440 6.438 6.437 6.436 6.435
100-07+ 6.436 6.441 6.439 6.438 6.435 6.434 6.433 6.432
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.925 8.521 8.294 8.096 7.775 7.638 7.520 7.411
Last Payment 14.208 20.542 18.875 17.375 14.208 14.208 13.458 12.625
Mod.Dur. @ 100-00 6.003 6.333 6.209 6.100 5.918 5.838 5.768 5.702
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX (HEP): 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.511 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.508 6.508 6.508 6.508
99-26 6.506 6.507 6.506 6.506 6.506 6.506 6.505 6.505
99-26+ 6.503 6.504 6.504 6.504 6.503 6.503 6.503 6.502
99-27 6.501 6.502 6.501 6.501 6.500 6.500 6.500 6.499
99-27+ 6.498 6.499 6.499 6.498 6.498 6.497 6.497 6.497
99-28 6.495 6.497 6.496 6.496 6.495 6.495 6.494 6.494
99-28+ 6.493 6.494 6.493 6.493 6.492 6.492 6.491 6.491
99-29 6.490 6.491 6.491 6.490 6.489 6.489 6.488 6.488
99-29+ 6.487 6.489 6.488 6.488 6.487 6.486 6.486 6.485
99-30 6.485 6.486 6.486 6.485 6.484 6.483 6.483 6.482
99-30+ 6.482 6.484 6.483 6.482 6.481 6.481 6.480 6.479
99-31 6.479 6.481 6.481 6.480 6.479 6.478 6.477 6.476
99-31+ 6.477 6.479 6.478 6.477 6.476 6.475 6.474 6.474
100-00 6.474 6.476 6.475 6.475 6.473 6.472 6.471 6.471
100-00+ 6.471 6.474 6.473 6.472 6.470 6.470 6.469 6.468
100-01 6.469 6.471 6.470 6.469 6.468 6.467 6.466 6.465
100-01+ 6.466 6.469 6.468 6.467 6.465 6.464 6.463 6.462
100-02 6.463 6.466 6.465 6.464 6.462 6.461 6.460 6.459
100-02+ 6.461 6.464 6.463 6.461 6.459 6.459 6.457 6.456
100-03 6.458 6.461 6.460 6.459 6.457 6.456 6.455 6.453
100-03+ 6.455 6.459 6.457 6.456 6.454 6.453 6.452 6.451
100-04 6.453 6.456 6.455 6.454 6.451 6.450 6.449 6.448
100-04+ 6.450 6.454 6.452 6.451 6.449 6.448 6.446 6.445
100-05 6.447 6.451 6.450 6.448 6.446 6.445 6.443 6.442
100-05+ 6.445 6.449 6.447 6.446 6.443 6.442 6.440 6.439
100-06 6.442 6.446 6.445 6.443 6.440 6.439 6.438 6.436
100-06+ 6.439 6.444 6.442 6.441 6.438 6.437 6.435 6.433
100-07 6.437 6.441 6.440 6.438 6.435 6.434 6.432 6.430
100-07+ 6.434 6.439 6.437 6.435 6.432 6.431 6.429 6.428
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.598 8.208 7.978 7.759 7.407 7.271 7.078 6.917
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 100-00 5.825 6.176 6.046 5.919 5.711 5.629 5.511 5.412
</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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $510,000,000.00 DATED DATE: 03/15/98
CURRENT COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $510,000,000.00 BOND AV DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
ASSUMED CONSTANT LIBOR-1M 5.6875
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR): 26.00% 13.00% 20.00% 33.00% 39.00% 45.00% 50.00%
FIX (HEP): 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00%
HIL (HEP): 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 29.263 25.047 27.284 31.777 34.170 36.888 39.492
99-24+ 28.619 24.667 26.763 30.975 33.217 35.765 38.205
99-25 27.974 24.288 26.243 30.173 32.264 34.642 36.918
99-25+ 27.330 23.908 25.724 29.371 31.312 33.519 35.632
99-26 26.686 23.529 25.204 28.569 30.360 32.396 34.346
99-26+ 26.042 23.150 24.684 27.768 29.409 31.274 33.061
99-27 25.399 22.771 24.165 26.966 28.458 30.152 31.776
99-27+ 24.756 22.391 23.646 26.165 27.507 29.031 30.491
99-28 24.112 22.013 23.126 25.365 26.556 27.910 29.207
99-28+ 23.469 21.634 22.608 24.564 25.606 26.789 27.923
99-29 22.827 21.255 22.089 23.764 24.656 25.669 26.640
99-29+ 22.184 20.876 21.570 22.964 23.706 24.549 25.357
99-30 21.542 20.498 21.051 22.164 22.756 23.429 24.074
99-30+ 20.899 20.119 20.533 21.365 21.807 22.310 22.792
99-31 20.257 19.741 20.015 20.565 20.858 21.191 21.510
99-31+ 19.615 19.363 19.497 19.766 19.910 20.073 20.229
100-00 18.974 18.985 18.979 18.967 18.961 18.954 18.948
100-00+ 18.332 18.607 18.461 18.169 18.013 17.836 17.667
100-01 17.691 18.229 17.943 17.370 17.066 16.719 16.387
100-01+ 17.050 17.851 17.426 16.572 16.118 15.602 15.107
100-02 16.409 17.473 16.909 15.775 15.171 14.485 13.828
100-02+ 15.768 17.095 16.391 14.977 14.224 13.369 12.549
100-03 15.128 16.718 15.874 14.180 13.278 12.253 11.271
100-03+ 14.487 16.341 15.357 13.383 12.331 11.137 9.992
100-04 13.847 15.963 14.841 12.586 11.385 10.021 8.715
100-04+ 13.207 15.586 14.324 11.789 10.440 8.906 7.438
100-05 12.568 15.209 13.808 10.993 9.494 7.792 6.161
100-05+ 11.928 14.832 13.291 10.196 8.549 6.677 4.884
100-06 11.288 14.455 12.775 9.401 7.605 5.564 3.608
100-06+ 10.649 14.078 12.259 8.605 6.660 4.450 2.332
100-07 10.010 13.702 11.743 7.809 5.716 3.337 1.057
100-07+ 9.371 13.325 11.227 7.014 4.772 2.224 -0.218
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 2.761 5.122 3.524 2.164 1.793 1.499 1.294
Last Payment 8.042 11.375 9.042 7.292 6.958 6.792 6.625
Mod.Dur. @ 100-00 2.332 3.960 2.890 1.873 1.577 1.337 1.167
</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>
- --------------------------------------------------------------------------------
- Money Store - MON8A
- Cut Off Date of Tape is 2/28/98
- Fixed Rate Collateral
- $367,994,024.88
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 6,145
Lien Status: First and Second Lien Loans
Aggregate Unpaid Principal Balance: $367,994,024.88
Aggregate Original Principal Balance: $369,471,154.00
Weighted Average Gross Coupon: 10.538%
Gross Coupon Range: 5.000% - 18.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $59,885.11
Average Original Principal Balance: $60,125.49
Maximum Unpaid Principal Balance: $657,686.44
Minimum Unpaid Principal Balance: $3,960.00
Maximum Original Principal Balance: $658,000.00
Minimum Original Principal Balance: $5,000.00
Weighted Avg. Rem Term (Sched. Last Pay to Mat/Bln Date): 265.516
Remaining Term Range: 35.000 - 480.000
Weighted Average Age (Original Term - Rem Term): 3.359
Age Range: 0.000 - 128.000
Weighted Average Original Term: 268.875
Original Term Range: 36.000 - 480.000
Weighted Average Combined LTV: 77.620
Combined LTV Range: 1.890% - 100.000%
Weighted Average FICO Score: 628.082 * 232 Scores are not
FICO Score Range: 379 - 827 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.26% Zip Code: 08540 State: NJ
Latest Maturing Loan: 03/15/38
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>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
4.50% * Gross Coupon *= 5.00% 1 9,411.59 0.00
5.50% * Gross Coupon *= 6.00% 1 16,741.94 0.00
6.50% * Gross Coupon *= 7.00% 2 155,234.81 0.04
7.00% * Gross Coupon *= 7.50% 6 691,587.96 0.19
7.50% * Gross Coupon *= 7.75% 17 1,694,043.25 0.46
7.75% * Gross Coupon *= 8.00% 14 1,322,067.96 0.36
8.00% * Gross Coupon *= 8.25% 16 2,211,332.87 0.60
8.25% * Gross Coupon *= 8.50% 34 3,667,179.50 1.00
8.50% * Gross Coupon *= 8.75% 86 9,525,367.45 2.59
8.75% * Gross Coupon *= 9.00% 397 33,525,444.22 9.11
9.00% * Gross Coupon *= 9.25% 138 13,745,798.07 3.74
9.25% * Gross Coupon *= 9.50% 289 23,711,069.90 6.44
9.50% * Gross Coupon *= 9.75% 352 29,730,286.97 8.08
9.75% * Gross Coupon *= 10.00% 644 52,821,086.30 14.35
10.00% * Gross Coupon *= 10.25% 145 10,473,826.70 2.85
10.25% * Gross Coupon *= 10.50% 350 23,210,502.81 6.31
10.50% * Gross Coupon *= 10.75% 373 27,137,250.72 7.37
10.75% * Gross Coupon *= 11.00% 505 31,518,089.33 8.56
11.00% * Gross Coupon *= 11.25% 229 11,711,648.62 3.18
11.25% * Gross Coupon *= 11.50% 286 13,577,233.42 3.69
11.50% * Gross Coupon *= 11.75% 294 11,959,901.03 3.25
11.75% * Gross Coupon *= 12.00% 437 15,564,858.97 4.23
12.00% * Gross Coupon *= 12.25% 221 7,444,427.65 2.02
12.25% * Gross Coupon *= 12.50% 269 9,127,310.81 2.48
12.50% * Gross Coupon *= 12.75% 158 6,689,124.02 1.82
12.75% * Gross Coupon *= 13.00% 257 7,793,959.61 2.12
13.00% * Gross Coupon *= 13.25% 122 3,625,632.23 0.99
13.25% * Gross Coupon *= 13.50% 154 5,058,515.80 1.37
13.50% * Gross Coupon *= 13.75% 105 3,213,944.67 0.87
13.75% * Gross Coupon *= 14.00% 108 3,066,200.53 0.83
14.00% * Gross Coupon *= 14.25% 35 1,089,217.70 0.30
14.25% * Gross Coupon *= 14.50% 39 1,151,443.73 0.31
14.50% * Gross Coupon *= 14.75% 19 554,119.64 0.15
14.75% * Gross Coupon *= 15.00% 21 602,891.15 0.16
15.00% * Gross Coupon *= 15.25% 4 138,831.86 0.04
15.25% * Gross Coupon *= 15.50% 6 167,700.54 0.05
15.50% * Gross Coupon *= 15.75% 2 50,135.85 0.01
15.75% * Gross Coupon *= 16.00% 2 57,141.10 0.02
16.50% * Gross Coupon *= 16.75% 2 85,591.18 0.02
16.75% * Gross Coupon *= 17.00% 1 23,946.30 0.01
17.00% * Gross Coupon *= 17.25% 1 11,726.12 0.00
17.25% * Gross Coupon *= 17.50% 1 14,950.00 0.00
18.50% * Gross Coupon *= 19.00% 2 47,250.00 0.01
- -------------------------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
===============================================================================
* = Less than
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
24 * Orig. Term *= 36 3 20,200.00 0.01%
36 * Orig. Term *= 48 1 23,603.45 0.01%
48 * Orig. Term *= 60 146 2,215,376.88 0.60%
60 * Orig. Term *= 72 12 211,623.98 0.06%
72 * Orig. Term *= 84 56 1,424,528.27 0.39%
84 * Orig. Term *= 96 13 279,952.60 0.08%
96 * Orig. Term *= 108 5 178,554.09 0.05%
108 * Orig. Term *= 120 642 15,352,879.20 4.17%
120 * Orig. Term *= 132 2 56,800.00 0.02%
132 * Orig. Term *= 144 23 662,857.23 0.18%
144 * Orig. Term *= 156 1 16,240.00 0.00%
156 * Orig. Term *= 168 3 138,335.52 0.04%
168 * Orig. Term *= 180 2,323 131,808,796.73 35.82%
192 * Orig. Term *= 204 4 147,150.00 0.04%
204 * Orig. Term *= 216 7 469,992.77 0.13%
216 * Orig. Term *= 228 1 86,500.00 0.02%
228 * Orig. Term *= 240 619 34,026,978.75 9.25%
240 * Orig. Term *= 252 1 24,646.03 0.01%
252 * Orig. Term *= 264 1 29,000.00 0.01%
288 * Orig. Term *= 300 296 13,534,223.32 3.68%
348 * Orig. Term *= 360 1,959 164,635,739.32 44.74%
468 * Orig. Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
24 * Rem Term *= 36 3 20,200.00 0.01%
36 * Rem Term *= 48 2 31,442.49 0.01%
48 * Rem Term *= 60 147 2,262,694.91 0.61%
60 * Rem Term *= 72 14 301,597.63 0.08%
72 * Rem Term *= 84 57 1,359,356.89 0.37%
84 * Rem Term *= 96 18 434,297.61 0.12%
96 * Rem Term *= 108 7 254,048.18 0.07%
108 * Rem Term *= 120 636 15,177,532.87 4.12%
120 * Rem Term *= 132 9 239,669.49 0.07%
132 * Rem Term *= 144 25 748,340.89 0.20%
144 * Rem Term *= 156 53 4,604,562.26 1.25%
156 * Rem Term *= 168 55 9,200,446.00 2.50%
168 * Rem Term *= 180 2,204 117,755,558.73 32.00%
192 * Rem Term *= 204 4 147,150.00 0.04%
204 * Rem Term *= 216 12 1,047,202.40 0.28%
216 * Rem Term *= 228 9 1,453,663.71 0.40%
228 * Rem Term *= 240 607 32,107,251.44 8.72%
252 * Rem Term *= 264 1 29,000.00 0.01%
276 * Rem Term *= 288 1 29,755.99 0.01%
288 * Rem Term *= 300 295 13,504,467.33 3.67%
324 * Rem Term *= 336 23 2,226,196.31 0.60%
336 * Rem Term *= 348 12 2,303,278.33 0.63%
348 * Rem Term *= 360 1,924 160,106,264.68 43.51%
468 * Rem Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
AGE OF LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
<S> <C> <C> <C>
Age = 0 2,278 113,829,780.23 30.93%
0 * Age *= 12 3,703 236,097,440.99 64.16%
12 * Age *= 24 81 11,761,107.48 3.20%
24 * Age *= 36 67 5,919,417.47 1.61%
36 * Age *= 48 3 51,708.34 0.01%
48 * Age *= 60 6 173,392.10 0.05%
60 * Age *= 72 1 26,726.16 0.01%
72 * Age *= 84 5 106,021.20 0.03%
120 * Age *= 132 1 28,430.91 0.01%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
<S> <C> <C> <C>
1987 1 28,430.91 0.01
1991 5 84,411.66 0.02
1992 2 57,747.29 0.02
1993 6 173,392.10 0.05
1994 3 173,697.73 0.05
1995 63 5,028,434.54 1.37
1996 57 7,071,898.79 1.92
1997 2084 162,426,330.52 44.14
1998 3924 192,949,681.34 52.43
- --------------------------------------------------------------------------
Total................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Combined Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
0.00 * CLTV *= 5.00 2 10,921.25 0.00
5.00 * CLTV *= 10.00 8 77,523.73 0.02
10.00 * CLTV *= 15.00 16 223,208.76 0.06
15.00 * CLTV *= 20.00 33 616,085.48 0.17
20.00 * CLTV *= 25.00 51 1,162,249.36 0.32
25.00 * CLTV *= 30.00 61 2,074,953.84 0.56
30.00 * CLTV *= 35.00 89 2,667,485.23 0.72
35.00 * CLTV *= 40.00 93 3,194,192.67 0.87
40.00 * CLTV *= 45.00 105 4,090,307.58 1.11
45.00 * CLTV *= 50.00 115 5,136,383.29 1.40
50.00 * CLTV *= 55.00 152 6,210,624.53 1.69
55.00 * CLTV *= 60.00 207 11,530,215.11 3.13
60.00 * CLTV *= 65.00 318 17,179,345.23 4.67
65.00 * CLTV *= 70.00 529 28,620,921.78 7.78
70.00 * CLTV *= 75.00 547 33,597,637.13 9.13
75.00 * CLTV *= 80.00 1396 86,963,799.46 23.63
80.00 * CLTV *= 85.00 987 68,480,092.54 18.61
85.00 * CLTV *= 90.00 1092 79,119,291.70 21.50
90.00 * CLTV *= 95.00 175 8,002,778.92 2.17
95.00 * CLTV *=100.00 169 9,036,007.29 2.46
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 4 19,859.66 0.01
5,000 * Balance *= 10,000 166 1,380,107.56 0.38
10,000 * Balance *= 15,000 364 4,619,132.22 1.26
15,000 * Balance *= 20,000 414 7,352,185.66 2.00
20,000 * Balance *= 25,000 469 10,654,660.28 2.90
25,000 * Balance *= 30,000 486 13,533,718.51 3.68
30,000 * Balance *= 35,000 420 13,757,611.02 3.74
35,000 * Balance *= 40,000 422 15,907,998.18 4.32
40,000 * Balance *= 45,000 339 14,521,676.04 3.95
45,000 * Balance *= 50,000 368 17,538,041.06 4.77
50,000 * Balance *= 55,000 303 15,909,077.34 4.32
55,000 * Balance *= 60,000 302 17,457,862.88 4.74
60,000 * Balance *= 65,000 271 16,985,747.24 4.62
65,000 * Balance *= 70,000 219 14,799,598.26 4.02
70,000 * Balance *= 75,000 178 12,900,909.76 3.51
75,000 * Balance *= 80,000 150 11,622,699.66 3.16
80,000 * Balance *= 85,000 128 10,575,729.03 2.87
85,000 * Balance *= 90,000 107 9,360,958.10 2.54
90,000 * Balance *= 95,000 97 9,003,906.97 2.45
95,000 * Balance *= 100,000 87 8,498,755.43 2.31
100,000 * Balance *= 105,000 64 6,554,175.97 1.78
105,000 * Balance *= 110,000 71 7,638,185.53 2.08
110,000 * Balance *= 115,000 78 8,782,936.42 2.39
115,000 * Balance *= 120,000 64 7,539,952.54 2.05
120,000 * Balance *= 125,000 51 6,258,227.40 1.70
125,000 * Balance *= 130,000 46 5,863,404.41 1.59
130,000 * Balance *= 135,000 42 5,540,384.15 1.51
135,000 * Balance *= 140,000 37 5,087,810.93 1.38
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 19 6,692,168.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 6 27,905.95 0.01
5,000 * Balance *= 10,000 168 1,397,358.19 0.38
10,000 * Balance *= 15,000 365 4,635,843.79 1.26
15,000 * Balance *= 20,000 415 7,392,157.28 2.01
20,000 * Balance *= 25,000 471 10,723,766.97 2.91
25,000 * Balance *= 30,000 488 13,618,144.00 3.70
30,000 * Balance *= 35,000 416 13,656,557.00 3.71
35,000 * Balance *= 40,000 422 15,960,188.62 4.34
40,000 * Balance *= 45,000 339 14,543,365.27 3.95
45,000 * Balance *= 50,000 366 17,478,195.58 4.75
50,000 * Balance *= 55,000 305 16,032,921.88 4.36
55,000 * Balance *= 60,000 302 17,480,643.97 4.75
60,000 * Balance *= 65,000 268 16,822,636.39 4.57
65,000 * Balance *= 70,000 222 15,009,039.25 4.08
70,000 * Balance *= 75,000 179 12,999,438.20 3.53
75,000 * Balance *= 80,000 147 11,420,131.09 3.10
80,000 * Balance *= 85,000 127 10,501,580.18 2.85
85,000 * Balance *= 90,000 108 9,466,866.65 2.57
90,000 * Balance *= 95,000 95 8,824,432.83 2.40
95,000 * Balance *= 100,000 88 8,598,616.56 2.34
100,000 * Balance *= 105,000 63 6,473,134.36 1.76
105,000 * Balance *= 110,000 73 7,862,885.67 2.14
110,000 * Balance *= 115,000 77 8,681,401.99 2.36
115,000 * Balance *= 120,000 64 7,544,800.57 2.05
120,000 * Balance *= 125,000 49 6,025,660.48 1.64
125,000 * Balance *= 130,000 50 6,378,690.60 1.73
130,000 * Balance *= 135,000 40 5,286,069.79 1.44
135,000 * Balance *= 140,000 35 4,826,839.10 1.31
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 18 6,688,208.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alaska 1 23,946.30 0.01
Alabama 3 540,105.47 0.15
Arkansas 21 1,241,633.31 0.34
Arizona 90 4,669,429.28 1.27
California 288 24,950,641.77 6.78
Colorado 94 6,684,549.05 1.82
Connecticut 51 5,190,321.80 1.41
Dist of Col 13 940,163.83 0.26
Delaware 23 1,598,190.44 0.43
Florida 377 22,788,435.47 6.19
Georgia 215 12,662,922.85 3.44
Hawaii 2 375,934.04 0.10
Iowa 44 1,622,881.50 0.44
Idaho 38 1,925,506.28 0.52
Illinois 276 15,809,945.87 4.30
Indiana 251 12,667,853.06 3.44
Kansas 90 4,223,826.45 1.15
Kentucky 127 7,252,144.91 1.97
Louisiana 82 3,265,941.21 0.89
Massachsetts 80 6,231,449.61 1.69
Maryland 90 6,673,483.09 1.81
Maine 43 2,039,478.17 0.55
Michigan 299 15,142,149.62 4.11
Minnesota 79 4,442,855.53 1.21
Missouri 189 7,706,840.30 2.09
Mississippi 160 7,803,703.15 2.12
Montana 16 995,273.54 0.27
North Carolina 309 20,409,179.45 5.55
North Dakota 5 141,062.74 0.04
Nebraska 41 1,837,082.06 0.50
New Hampshire 20 1,096,876.13 0.30
New Jersey 248 23,131,434.98 6.29
New Mexico 62 3,232,876.49 0.88
Nevada 35 3,067,049.55 0.83
New York 387 31,748,992.53 8.63
Ohio 327 19,279,525.60 5.24
Oklahoma 51 2,344,105.17 0.64
Oregon 50 3,281,786.97 0.89
Pennsylvania 346 17,263,714.54 4.69
Rhode Island 9 624,570.99 0.17
South Carolina 237 12,839,006.44 3.49
South Dakota 6 147,240.91 0.04
Tennessee 162 9,344,083.36 2.54
Texas 447 18,108,779.86 4.92
Utah 31 1,957,947.04 0.53
Virginia 73 4,806,484.66 1.31
Vermont 17 841,623.71 0.23
Washington 135 8,340,756.71 2.27
Wisconsin 60 2,678,868.48 0.73
West Virgina 36 1,619,575.47 0.44
Wyoming 9 381,795.14 0.10
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Single Family Detached 5277 312,195,463.82 84.84
2-4 Family 282 21,293,358.11 5.79
Deminimus PUD 1 22,800.00 0.01
Single Wide MH 163 6,644,133.07 1.81
Double Wide MH 145 6,971,198.60 1.89
Triple Wide MH 1 76,443.38 0.02
Mixed Use 38 3,041,625.06 0.83
Townhouses 35 1,530,947.48 0.42
Condominiums 86 4,020,025.77 1.09
PUD Detached 82 6,718,280.83 1.83
PUD Attached 13 723,897.73 0.20
Multi-Family 22 4,755,851.03 1.29
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Owner Occ. 5776 346,630,942.23 94.19
Investor 328 19,447,945.15 5.28
Vacation/Second Home 41 1,915,137.50 0.52
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Full Documentation 6145 367,994,024.88 100.00
- ----------------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Purchase 297 29,193,242.87 7.93
Refinance/No ETO 3437 261,515,239.47 71.07
Refinance/ETO 980 29,789,718.74 8.10
Home Improvement 4 85,357.73 0.02
Debt Consolidation 1420 45,701,990.29 12.42
Other 7 1,708,475.78 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN TYPE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
LOAN TYPE Loans Balance Balance
<S> <C> <C> <C>
FIXED 6137 366,247,814.24 99.53
4/26 6M LIBOR 1 56,956.89 0.02
6 MONTH LIBOR 7 1,689,253.75 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
1 4494 317,608,289.84 86.31
2 1651 50,385,735.04 13.69
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
COLLATERAL GRADE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
<S> <C> <C> <C>
A 1956 144,348,916.93 39.23
A- 1903 115,856,014.86 31.48
B+ 732 40,405,472.68 10.98
B 967 44,699,006.56 12.15
B- 388 14,453,831.32 3.93
C+ 17 652,545.80 0.18
C 177 7,448,281.75 2.02
C- 5 129,954.98 0.04
- -----------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
=================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
<S> <C> <C> <C>
Fully Amortizing 5605 309,197,620.87 84.02
Partially Amortizing 540 58,796,404.01 15.98
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
FICO SCORE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
FICO *= 550 864 43,006,597.11 11.69
551 * FICO *= 600 1351 76,990,346.40 20.92
601 * FICO *= 650 1674 104,958,835.82 28.52
651 * FICO *= 700 1334 86,219,342.54 23.43
700 * FICO 690 44,535,306.02 12.10
Unavailable FICO 232 12,283,596.99 3.34
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
- --------------------------------------------------------------------------------
- Money Store - MON8A
- Cut Off Date of Tape is 2/28/98
- Adjust. Rate Collateral
- $364,380,515.83
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 4,149
Index: 1M LIBOR, 6M LIBOR, 1Y LIBOR, 1Y CMT
Lien Status: First Lien Loans
Aggregate Unpaid Principal Balance: $364,380,515.83
Aggregate Original Principal Balance: $364,781,550.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.090%
Gross Coupon Range: 7.200% - 14.990%
Weighted Average Margin (Gross): 6.284%
Gross Margin Range: 0.000% - 10.740%
Weighted Average Life Cap (Gross): 16.356%
Gross Life Cap Range: 11.250% - 28.130%
Weighted Average Life Floor (Gross): 9.849%
Gross Life Floor Range: 3.850% - 14.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $87,823.70
Average Original Principal Balance: $87,920.35
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: $12,500.00
Weighted Avg. Rem. Term (Sched Last Pay to Mat Date): 356.462
Rem Term Range: 17.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 2.293
Age Range: 0.000 - 37.000
Weighted Average Original Term: 358.755
Original Term Range: 24.000 - 361.000
Weighted Average Original LTV: 78.437
Original LTV Range: 10.390% - 100.000%
Weighted Average Periodic Interest Cap: 1.083%
Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Initial Periodic Interest Cap: 2.630%
Initial Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Months to Interest Roll: 27.050
Months to Interest Roll Range: 1 - 50
Weighted Average Interest Roll Frequency: 6.075
Interest Frequency Range: 1 - 12
Weighted Average FICO Score: 606.199 * 152 Scores are not
Score Range: 407 - 822 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.31% Zip Code: 60103 State:IL
Latest Maturing Loan: 05/01/28
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>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
7.00% * Gross Coupon *= 7.50% 27 3,116,919.54 0.86
7.50% * Gross Coupon *= 7.75% 5 1,124,016.02 0.31
7.75% * Gross Coupon *= 8.00% 35 4,355,783.93 1.20
8.00% * Gross Coupon *= 8.25% 28 3,455,674.94 0.95
8.25% * Gross Coupon *= 8.50% 73 8,804,975.47 2.42
8.50% * Gross Coupon *= 8.75% 249 26,290,392.29 7.22
8.75% * Gross Coupon *= 9.00% 214 21,296,743.64 5.84
9.00% * Gross Coupon *= 9.25% 251 23,241,308.44 6.38
9.25% * Gross Coupon *= 9.50% 252 26,806,842.70 7.36
9.50% * Gross Coupon *= 9.75% 277 28,662,948.36 7.87
9.75% * Gross Coupon *= 10.00% 426 41,493,484.92 11.39
10.00% * Gross Coupon *= 10.25% 317 26,570,683.09 7.29
10.25% * Gross Coupon *= 10.50% 408 34,175,569.40 9.38
10.50% * Gross Coupon *= 10.75% 338 25,695,695.37 7.05
10.75% * Gross Coupon *= 11.00% 313 25,969,304.46 7.13
11.00% * Gross Coupon *= 11.25% 253 17,899,946.84 4.91
11.25% * Gross Coupon *= 11.50% 226 15,843,918.74 4.35
11.50% * Gross Coupon *= 11.75% 142 9,100,062.84 2.50
11.75% * Gross Coupon *= 12.00% 123 8,589,480.18 2.36
12.00% * Gross Coupon *= 12.25% 50 3,141,496.46 0.86
12.25% * Gross Coupon *= 12.50% 42 2,497,832.67 0.69
12.50% * Gross Coupon *= 12.75% 34 2,063,003.87 0.57
12.75% * Gross Coupon *= 13.00% 32 1,839,793.58 0.50
13.00% * Gross Coupon *= 13.25% 6 376,565.80 0.10
13.25% * Gross Coupon *= 13.50% 9 556,668.04 0.15
13.50% * Gross Coupon *= 13.75% 6 507,707.96 0.14
13.75% * Gross Coupon *= 14.00% 4 237,845.60 0.07
14.00% * Gross Coupon *= 14.25% 2 196,788.37 0.05
14.50% * Gross Coupon *= 14.75% 4 232,892.28 0.06
14.75% * Gross Coupon *= 15.00% 3 236,170.03 0.06
- ------------------------------------------------------------------------------------------------
Total.......... 4149 $364,380,515.83 100.00%
================================================================================================
* = Less than.
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
12 * Orig. Term *= 24 1 38,404.12 0.01%
72 * Orig. Term *= 84 13 1,103,093.11 0.30%
108 * Orig. Term *= 120 1 93,177.12 0.03%
168 * Orig. Term *= 180 7 631,878.58 0.17%
348 * Orig. Term *= 360 4,126 362,484,562.90 99.48%
360 * Orig. Term *= 372 1 29,400.00 0.01%
- -------------------------------------------------------------------
Total............ 4,149 364,380,515.83 100.00%
===================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
12 * Rem Term *= 24 1 38,404.12 0.01%
60 * Rem Term *= 72 8 525,128.90 0.14%
72 * Rem Term *= 84 5 577,964.21 0.16%
108 * Rem Term *= 120 1 93,177.12 0.03%
156 * Rem Term *= 168 1 87,898.31 0.02%
168 * Rem Term *= 180 6 543,980.27 0.15%
312 * Rem Term *= 324 2 157,918.50 0.04%
324 * Rem Term *= 336 7 568,587.46 0.16%
336 * Rem Term *= 348 16 2,010,729.43 0.55%
348 * Rem Term *= 360 4,102 359,776,727.51 98.74%
- -------------------------------------------------------------------
Total............ 4,149 364,380,515.83 100.00%
===================================================================
* = Less than.
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
<S> <C> <C> <C>
Age = 0 1,186 91,321,498.74 25.06%
0 * Age *= 12 2,938 270,386,006.39 74.20%
12 * Age *= 24 16 1,946,504.74 0.53%
24 * Age *= 36 7 568,587.46 0.16%
36 * Age *= 48 2 157,918.50 0.04%
- -------------------------------------------------------------------
Total............ 4,149 364,380,515.83 100.00%
===================================================================
* = Less than.
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
<S> <C> <C> <C>
1994 2 157,918.50 0.04
1995 7 568,587.46 0.16
1996 11 1,404,162.06 0.39
1997 2117 202,600,305.13 55.60
1998 2012 159,649,542.68 43.81
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
SCHEDULED LAST PAYMENT DATE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
03/01/98 3978 351,427,540.83 96.45
04/01/98 170 12,870,475.00 3.53
05/01/98 1 82,500.00 0.02
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
ORIGINAL LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
10.00 * LTV *= 15.00 6 179,000.00 0.05
15.00 * LTV *= 20.00 7 420,763.61 0.12
20.00 * LTV *= 25.00 13 458,457.02 0.13
25.00 * LTV *= 30.00 20 1,315,822.66 0.36
30.00 * LTV *= 35.00 15 844,852.77 0.23
35.00 * LTV *= 40.00 26 1,545,979.19 0.42
40.00 * LTV *= 45.00 53 2,787,928.94 0.77
45.00 * LTV *= 50.00 71 4,418,980.97 1.21
50.00 * LTV *= 55.00 83 4,957,249.37 1.36
55.00 * LTV *= 60.00 123 8,282,021.65 2.27
60.00 * LTV *= 65.00 208 15,407,172.91 4.23
65.00 * LTV *= 70.00 365 27,140,176.71 7.45
70.00 * LTV *= 75.00 501 43,102,364.76 11.83
75.00 * LTV *= 80.00 1052 94,977,888.31 26.07
80.00 * LTV *= 85.00 787 71,678,090.26 19.67
85.00 * LTV *= 90.00 762 81,270,397.98 22.30
90.00 * LTV *= 95.00 50 4,730,465.74 1.30
95.00 * LTV *=100.00 7 862,902.98 0.24
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
DISTRIBUTION OF
MARGINS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
<S> <C> <C> <C>
Margin = 0.000 1 53,965.31 0.01
3.500 * Margin *= 4.000 7 871,475.61 0.24
4.000 * Margin *= 4.500 21 2,167,214.57 0.59
4.500 * Margin *= 5.000 209 22,398,309.03 6.15
5.000 * Margin *= 5.500 521 47,982,360.37 13.17
5.500 * Margin *= 6.000 623 57,620,809.54 15.81
6.000 * Margin *= 6.500 1,436 117,635,405.58 32.28
6.500 * Margin *= 7.000 699 60,629,677.97 16.64
7.000 * Margin *= 7.500 263 23,886,942.31 6.56
7.500 * Margin *= 8.000 215 18,699,164.83 5.13
8.000 * Margin *= 8.500 79 6,255,322.07 1.72
8.500 * Margin *= 9.000 47 3,926,530.28 1.08
9.000 * Margin *= 9.500 19 1,571,694.66 0.43
9.500 * Margin *= 10.000 6 469,866.26 0.13
10.000 * Margin *= 10.500 1 71,486.68 0.02
10.500 * Margin *= 11.000 2 140,290.76 0.04
- --------------------------------------------------------------------------
Total................. 4,149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
LIFE CAP
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
<S> <C> <C> <C>
11.000 * LIFE CAP *= 11.500 2 157,918.50 0.04
11.500 * LIFE CAP *= 12.000 2 245,848.34 0.07
12.000 * LIFE CAP *= 12.500 1 51,945.31 0.01
13.000 * LIFE CAP *= 13.500 26 3,032,319.22 0.83
13.500 * LIFE CAP *= 14.000 37 5,004,985.20 1.37
14.000 * LIFE CAP *= 14.500 84 9,496,280.66 2.61
14.500 * LIFE CAP *= 15.000 401 40,769,854.54 11.19
15.000 * LIFE CAP *= 15.500 433 42,619,467.21 11.70
15.500 * LIFE CAP *= 16.000 577 57,557,303.90 15.80
16.000 * LIFE CAP *= 16.500 656 56,257,055.43 15.44
16.500 * LIFE CAP *= 17.000 650 54,608,259.79 14.99
17.000 * LIFE CAP *= 17.500 518 38,120,789.04 10.46
17.500 * LIFE CAP *= 18.000 379 28,308,251.74 7.77
18.000 * LIFE CAP *= 18.500 157 11,814,519.40 3.24
18.500 * LIFE CAP *= 19.000 111 7,630,229.88 2.09
19.000 * LIFE CAP *= 19.500 42 2,860,586.87 0.79
19.500 * LIFE CAP *= 20.000 29 1,823,076.09 0.50
20.000 * LIFE CAP *= 20.500 19 2,007,199.34 0.55
20.500 * LIFE CAP *= 21.000 15 1,092,425.73 0.30
21.000 * LIFE CAP *= 21.500 6 608,390.94 0.17
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 0.02
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
LOAN SUMMARY STRATIFIED BY
LIFE FLOOR
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
<S> <C> <C> <C>
3.500 * Life Floor *= 4.000 3 485,997.78 0.13
4.500 * Life Floor *= 5.000 17 1,668,640.67 0.46
5.000 * Life Floor *= 5.500 20 1,874,673.98 0.51
5.500 * Life Floor *= 6.000 36 3,094,317.93 0.85
6.000 * Life Floor *= 6.500 37 3,648,216.78 1.00
6.500 * Life Floor *= 7.000 46 5,015,223.92 1.38
7.000 * Life Floor *= 7.500 54 5,693,629.02 1.56
7.500 * Life Floor *= 8.000 53 6,316,786.45 1.73
8.000 * Life Floor *= 8.500 111 13,104,026.00 3.60
8.500 * Life Floor *= 9.000 473 49,156,893.18 13.49
9.000 * Life Floor *= 9.500 491 47,781,896.93 13.11
9.500 * Life Floor *= 10.000 656 65,137,391.74 17.88
10.000 * Life Floor *= 10.500 678 56,661,890.13 15.55
10.500 * Life Floor *= 11.000 606 47,344,312.42 12.99
11.000 * Life Floor *= 11.500 458 31,379,779.38 8.61
11.500 * Life Floor *= 12.000 234 15,242,761.60 4.18
12.000 * Life Floor *= 12.500 84 5,098,202.90 1.40
12.500 * Life Floor *= 13.000 61 3,532,830.28 0.97
13.000 * Life Floor *= 13.500 13 822,031.84 0.23
13.500 * Life Floor *= 14.000 9 655,162.22 0.18
14.000 * Life Floor *= 14.500 2 196,788.37 0.05
14.500 * Life Floor *= 15.000 7 469,062.31 0.13
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
NEXT INTEREST ROLLDATE DATE
<TABLE>
<CAPTION>
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
<S> <C> <C> <C>
04/01/98 55 $5,401,995.80 01.48
05/01/98 73 $7,627,268.81 02.09
06/01/98 85 $10,269,041.13 02.82
07/01/98 161 $15,589,111.01 04.28
08/01/98 78 $7,721,043.83 02.12
09/01/98 66 $6,894,764.65 01.89
10/01/98 2 $284,104.07 00.08
11/01/98 5 $756,918.46 00.21
12/01/98 16 $2,117,205.18 00.58
01/01/99 5 $1,065,610.34 00.29
02/01/99 8 $836,642.68 00.23
03/01/99 10 $780,999.26 00.21
04/01/99 5 $501,887.06 00.14
05/01/99 6 $498,635.81 00.14
06/01/99 26 $2,717,256.48 00.75
07/01/99 18 $1,636,396.04 00.45
08/01/99 42 $3,370,475.24 00.92
09/01/99 83 $8,410,942.57 02.31
10/01/99 145 $13,387,846.30 03.67
11/01/99 221 $21,540,086.24 05.91
12/01/99 408 $39,927,564.66 10.96
01/01/00 455 $44,076,363.71 12.10
02/01/00 313 $28,408,793.13 07.80
03/01/00 202 $17,152,433.00 04.71
04/01/00 29 $2,523,250.00 00.69
06/01/00 1 $70,326.04 00.02
07/01/00 1 $63,463.46 00.02
08/01/00 2 $214,413.96 00.06
09/01/00 2 $128,387.47 00.04
10/01/00 4 $329,303.42 00.09
11/01/00 2 $198,887.33 00.05
12/01/00 10 $704,774.48 00.19
01/01/01 11 $1,035,941.00 00.28
02/01/01 5 $935,084.27 00.26
11/01/01 4 $281,043.51 00.08
12/01/01 2 $173,887.66 00.05
01/01/02 199 $14,513,634.48 03.98
02/01/02 441 $31,327,517.55 08.60
03/01/02 806 $60,477,490.74 16.60
04/01/02 141 $10,347,225.00 02.84
05/01/02 1 $82,500.00 00.02
- --------------------------------------------------------------------------
Total........ 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
PERIODIC CAP
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Periodic Mortgage Principal Principal
Cap Loans Balance Balance
<S> <C> <C> <C>
0.500 4 161,330.87 0.04
1.000 3721 319,660,816.93 87.73
1.500 284 29,881,853.47 8.20
2.000 132 14,039,254.50 3.85
3.000 7 604,260.06 0.17
6.000 1 33,000.00 0.01
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
10,000 * Balance *= 15,000 3 41,703.43 0.01
15,000 * Balance *= 20,000 8 148,158.67 0.04
20,000 * Balance *= 25,000 45 1,054,191.68 0.29
25,000 * Balance *= 30,000 114 3,174,138.13 0.87
30,000 * Balance *= 35,000 146 4,814,247.35 1.32
35,000 * Balance *= 40,000 192 7,298,240.19 2.00
40,000 * Balance *= 45,000 208 8,887,603.32 2.44
45,000 * Balance *= 50,000 236 11,293,212.62 3.10
50,000 * Balance *= 55,000 248 13,076,052.17 3.59
55,000 * Balance *= 60,000 269 15,484,523.49 4.25
60,000 * Balance *= 65,000 240 15,060,431.04 4.13
65,000 * Balance *= 70,000 218 14,799,081.32 4.06
70,000 * Balance *= 75,000 204 14,834,108.89 4.07
75,000 * Balance *= 80,000 196 15,210,777.82 4.17
80,000 * Balance *= 85,000 177 14,629,653.28 4.01
85,000 * Balance *= 90,000 143 12,515,416.55 3.43
90,000 * Balance *= 95,000 147 13,598,042.80 3.73
95,000 * Balance *= 100,000 140 13,658,814.74 3.75
100,000 * Balance *= 105,000 121 12,423,855.47 3.41
105,000 * Balance *= 110,000 128 13,748,275.16 3.77
110,000 * Balance *= 115,000 93 10,452,230.26 2.87
115,000 * Balance *= 120,000 98 11,538,790.72 3.17
120,000 * Balance *= 125,000 71 8,713,940.73 2.39
125,000 * Balance *= 130,000 72 9,172,374.68 2.52
130,000 * Balance *= 135,000 52 6,905,100.65 1.90
135,000 * Balance *= 140,000 52 7,150,983.32 1.96
140,000 * Balance *= 145,000 56 7,990,971.96 2.19
145,000 * Balance *= 150,000 38 5,621,095.47 1.54
150,000 * Balance *= 200,000 246 42,618,499.03 11.70
200,000 * Balance *= 250,000 116 25,929,043.27 7.12
250,000 * Balance *= 300,000 46 12,418,425.54 3.41
300,000 * Balance *= 350,000 10 3,192,833.28 0.88
350,000 * Balance *= 400,000 5 1,950,636.92 0.54
400,000 * Balance *= 450,000 7 3,000,329.96 0.82
450,000 * Balance *= 500,000 3 1,450,498.12 0.40
500,000 * Balance *= 550,000 1 524,233.80 0.14
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 1 1,184.58 0.00
10,000 * Balance *= 15,000 3 41,703.43 0.01
15,000 * Balance *= 20,000 8 148,158.67 0.04
20,000 * Balance *= 25,000 45 1,054,191.68 0.29
25,000 * Balance *= 30,000 114 3,174,138.13 0.87
30,000 * Balance *= 35,000 147 4,848,346.35 1.33
35,000 * Balance *= 40,000 193 7,338,223.10 2.01
40,000 * Balance *= 45,000 207 8,847,620.41 2.43
45,000 * Balance *= 50,000 235 11,259,113.62 3.09
50,000 * Balance *= 55,000 249 13,130,741.99 3.60
55,000 * Balance *= 60,000 270 15,607,062.74 4.28
60,000 * Balance *= 65,000 238 14,943,402.71 4.10
65,000 * Balance *= 70,000 217 14,737,696.00 4.04
70,000 * Balance *= 75,000 205 14,905,059.53 4.09
75,000 * Balance *= 80,000 196 15,219,717.03 4.18
80,000 * Balance *= 85,000 177 14,633,102.33 4.02
85,000 * Balance *= 90,000 143 12,519,975.96 3.44
90,000 * Balance *= 95,000 146 13,510,144.49 3.71
95,000 * Balance *= 100,000 142 13,858,611.04 3.80
100,000 * Balance *= 105,000 120 12,327,287.85 3.38
105,000 * Balance *= 110,000 127 13,645,046.48 3.74
110,000 * Balance *= 115,000 95 10,682,092.33 2.93
115,000 * Balance *= 120,000 96 11,308,928.65 3.10
120,000 * Balance *= 125,000 71 8,713,940.73 2.39
125,000 * Balance *= 130,000 73 9,302,364.91 2.55
130,000 * Balance *= 135,000 51 6,775,110.42 1.86
135,000 * Balance *= 140,000 55 7,570,631.91 2.08
140,000 * Balance *= 145,000 53 7,571,323.37 2.08
145,000 * Balance *= 150,000 39 5,770,465.28 1.58
150,000 * Balance *= 200,000 245 42,469,129.22 11.66
200,000 * Balance *= 250,000 116 25,929,043.27 7.12
250,000 * Balance *= 300,000 46 12,418,425.54 3.41
300,000 * Balance *= 350,000 10 3,192,833.28 0.88
350,000 * Balance *= 400,000 5 1,950,636.92 0.54
400,000 * Balance *= 450,000 7 3,000,329.96 0.82
450,000 * Balance *= 500,000 3 1,450,498.12 0.40
500,000 * Balance *= 550,000 1 524,233.80 0.14
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alaska 5 410,578.16 0.11
Alabama 1 52,736.61 0.01
Arkansas 4 330,450.77 0.09
Arizona 59 5,388,563.70 1.48
California 191 26,283,203.83 7.21
Colorado 76 8,219,162.20 2.26
Connecticut 40 3,853,821.16 1.06
Dist of Col 25 2,596,453.74 0.71
Delaware 10 899,891.73 0.25
Florida 191 16,045,801.89 4.40
Georgia 145 12,150,963.80 3.33
Hawaii 4 674,684.44 0.19
Iowa 24 1,420,140.72 0.39
Idaho 42 3,379,285.71 0.93
Illinois 389 39,692,806.89 10.89
Indiana 134 8,737,918.16 2.40
Kansas 26 1,397,332.22 0.38
Kentucky 66 4,116,968.98 1.13
Louisiana 30 1,995,898.27 0.55
Massachusetts 121 15,162,822.30 4.16
Maryland 77 7,994,808.94 2.19
Maine 19 1,433,222.61 0.39
Michigan 496 39,210,983.25 10.76
Minnesota 131 10,514,065.69 2.89
Missouri 125 7,918,369.26 2.17
Mississippi 18 1,114,897.58 0.31
Montana 6 308,451.15 0.08
North Carolina 145 11,061,564.68 3.04
North Dakota 1 31,640.00 0.01
Nebraska 3 173,422.54 0.05
New Hampshire 28 2,166,488.14 0.59
New Jersey 141 14,811,449.27 4.06
New Mexico 35 2,978,796.31 0.82
Nevada 37 3,631,675.87 1.00
New York 158 15,097,726.38 4.14
Ohio 265 18,906,659.25 5.19
Oklahoma 24 1,096,048.47 0.30
Oregon 53 5,132,806.80 1.41
Pennsylvania 160 12,321,237.10 3.38
Rhode Island 9 549,897.69 0.15
South Carolina 39 2,752,259.02 0.76
South Dakota 2 88,000.00 0.02
Tennessee 78 5,486,506.89 1.51
Texas 63 5,557,547.46 1.53
Utah 68 7,585,133.88 2.08
Virginia 49 5,107,753.60 1.40
Vermont 4 248,651.72 0.07
Washington 173 17,001,425.56 4.67
Wisconsin 143 10,343,955.84 2.84
West Virgina 11 572,920.22 0.16
Wyoming 5 372,665.38 0.10
- --------------------------------------------------------------------------
Total............... 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Single Family Detached 3555 310,418,301.71 85.19
2-4 Family 248 23,740,950.26 6.52
Single Wide MH 64 3,550,443.65 0.97
Double Wide MH 76 5,245,855.65 1.44
Triple Wide MH 1 119,000.00 0.03
Townhouses 28 2,436,305.00 0.67
Condominiums 95 7,983,143.26 2.19
PUD Detached 69 9,594,122.06 2.63
PUD Attached 13 1,292,394.24 0.35
- --------------------------------------------------------------------------
Total............... 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Owner Occ. 3930 349,176,908.78 95.83
Investor 197 13,409,481.36 3.68
Vacation/Second Home 22 1,794,125.69 0.49
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Full Documentation 4149 364,380,515.83 100.00
- --------------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
================================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Purchase 612 65,302,448.77 17.92
Refinance/No ETO 3069 273,647,373.18 75.10
Refinance/ETO 244 12,545,105.39 3.44
Debt Consolidation 224 12,885,588.49 3.54
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
LOAN SUMMARY STRATIFIED BY
LOAN TYPE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Type Loans Balance Balance
<S> <C> <C> <C>
1 YEAR CMT 30 4,350,461.25 1.19
1 YEAR LIBOR 3 339,690.93 0.09
6 MONTH LIBOR 511 52,585,502.52 14.43
2/28 6M LIBOR 1970 185,965,955.77 51.04
3/27 6M LIBOR 39 3,777,687.92 1.04
4/26 6M LIBOR 1594 117,203,298.94 32.17
3/3/1 1M LIBOR 2 157,918.50 0.04
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
1 4149 364,380,515.83 100.00
- --------------------------------------------------------------------------
Total............... 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
COLLATERAL GRADE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
<S> <C> <C> <C>
A 806 76,843,820.64 21.09
A- 1171 116,697,275.75 32.03
B+ 563 47,761,126.26 13.11
B 1001 80,650,936.27 22.13
B- 376 26,285,880.76 7.21
C+ 32 2,226,640.70 0.61
C 197 13,616,034.11 3.74
C- 3 298,801.34 0.08
- -----------------------------------------------------------------
Total.......... 4149 $364,380,515.83 100.00%
=================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
<S> <C> <C> <C>
Fully Amortizing 4133 363,036,518.91 99.63
Partially Amortizing 16 1,343,996.92 0.37
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
FICO SCORE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
FICO *= 550 861 66,174,622.54 18.16
551 * FICO *= 600 1109 96,886,384.29 26.59
601 * FICO *= 650 1163 110,145,292.37 30.23
651 * FICO *= 700 616 58,599,114.89 16.08
700 * FICO 248 21,849,880.55 6.00
Unavailable FICO 152 10,725,221.19 2.94
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
EXHIBIT 99.2
LEHMAN BROTHERS
DERIVED INFORMATION
$165,000,000 CERTIFICATES (APPROXIMATE)
THE MONEY STORE TRUST 1998-A
HOME IMPROVEMENT LOAN BACKED SECURITIES (POOL III)
The Money Store, Inc.
as Representative and 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>
SECURITIES OFFERED:
TO MATURITY:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Pmt. Expected Stated Expected
Approx. % of Expected WAL/MDUR Window Final Final Ratings
Certificates Size ($) Total Benchmark Price (yrs) (months) Maturity Maturity S&P/Fitch
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-1 (1) $55,523,000 33.650% Curve 99.99286 0.85/0.80 1-21 12/15/99 7/15/07 AAA/AAA
Class A-2 (1) $12,685,000 7.688% 2 Yr Tsy 99.99626 2.00/1.82 21-28 7/15/00 6/15/09 AAA/AAA
Class A-3 (1) $29,307,000 17.762% 3 Yr Tsy 99.97861 3.00/2.64 28-51 6/15/02 8/15/12 AAA/AAA
Class A-4 (1) $10,406,000 6.307% 5 Yr Tsy 99.96452 5.08/4.18 51-74 5/15/04 10/15/15 AAA/AAA
Class A-5 (1) $18,510,000 11.218% Curve 99.95991 9.86/6.67 74-232 7/15/17 5/15/30 AAA/AAA
Class M-1 (1) $12,375,000 7.500% Curve 99.98764 7.47/5.36 42-219 6/15/16 5/15/30 AA/AA+
Class M-2 (1) $12,581,000 7.625% Curve 99.95560 7.45/5.31 42-209 8/15/15 5/15/30 A/A
Class B (1) $13,613,000 8.250% Curve 99.96682 7.37/5.17 42-194 5/15/14 5/15/30 BBB/BBB
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
TO 10% CALL (2):
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Pmt. Expected Stated Expected
Approx. % of Expected WAL/MDUR Window Final Final Ratings
Certificates Size ($) Total Benchmark Price (yrs) (months) Maturity Maturity S&P/Fitch
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-5 (1) $18,510,000 11.218% Curve 99.92476 7.66/5.69 74-97 4/15/06 5/15/30 AAA/AAA
Class M-1 (1) $12,375,000 7.500% Curve 99.96119 6.29/4.83 42-97 4/15/06 5/15/30 AA/AA+
Class M-2 (1) $12,581,000 7.625% Curve 99.93216 6.29/4.79 42-97 4/15/06 5/15/30 A/A
Class B (1) $13,613,000 8.250% Curve 99.94229 6.29/4.71 42-97 4/15/06 5/15/30 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>
SENSITIVITY ANALYSIS LEHMAN BROTHERS
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
<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.) 1.21 1.07 0.97 0.85 0.76 0.66 0.59
Mod Duration (yrs) 1.11 0.99 0.9 0.8 0.72 0.63 0.56
Window (begin-end) (mths) 1-32 1-28 1-25 1-21 1-19 1-16 1-14
Expected Final Maturity 11/15/00 7/15/00 4/15/00 12/15/99 10/15/99 7/15/99 5/15/99
Yield @ 99.99286% 6.269 6.243 6.218 6.183 6.15 6.1 6.054
CLASS A-2
Avg. Life (yrs.) 3.05 2.65 2.35 2 1.74 1.44 1.22
Mod Duration (yrs) 2.69 2.37 2.12 1.82 1.6 1.33 1.14
Window (begin-end) (mths) 32-42 28-37 25-32 21-28 19-24 16-20 14-17
Expected Final Maturity 9/15/01 4/15/01 11/15/00 7/15/00 3/15/00 11/15/99 8/15/99
Yield @ 99.99626% 6.253 6.241 6.229 6.211 6.193 6.163 6.133
CLASS A-3
Avg. Life (yrs.) 4.57 3.99 3.53 3 2.6 2.1 1.77
Mod Duration (yrs) 3.84 3.41 3.06 2.64 2.32 1.9 1.62
Window (begin-end) (mths) 42-76 37-67 32-59 28-51 24-44 20-32 17-27
Expected Final Maturity 7/15/04 10/15/03 2/15/03 6/15/02 11/15/01 11/15/00 6/15/00
Yield @ 99.97861% 6.335 6.328 6.32 6.309 6.297 6.276 6.256
CLASS A-4
Avg. Life (yrs.) 7.59 6.7 5.96 5.08 4.4 3.05 2.39
Mod Duration (yrs) 5.79 5.25 4.78 4.18 3.7 2.67 2.14
Window (begin-end) (mths) 76-108 67-96 59-86 51-74 44-64 32-52 27-31
Expected Final Maturity 3/15/07 3/15/06 5/15/05 5/15/04 7/15/03 7/15/02 10/15/00
Yield @ 99.96452% 6.561 6.558 6.553 6.547 6.54 6.518 6.497
CLASS A-5
Avg. Life (yrs.) 13.56 12.34 11.25 9.86 8.7 7.17 5.1
Mod Duration (yrs) 8.23 7.75 7.3 6.67 6.11 5.29 3.95
Window (begin-end) (mths) 108-280 96-269 86-254 74-232 64-215 52-183 31-158
Expected Final Maturity 7/15/21 8/15/20 5/15/19 7/15/17 2/15/16 6/15/13 5/15/11
Yield @ 99.95991% 7.239 7.237 7.235 7.232 7.229 7.223 7.207
CLASS M-1
Avg. Life (yrs.) 10.55 9.5 8.6 7.47 6.55 5.62 5.52
Mod Duration (yrs) 6.87 6.39 5.94 5.36 4.85 4.34 4.34
Window (begin-end) (mths) 63-267 55-252 49-235 42-219 37-199 43-168 50-144
Expected Final Maturity 6/15/20 3/15/19 10/15/17 6/15/16 10/15/14 3/15/12 3/15/10
Yield @ 99.98764% 7.27 7.267 7.264 7.259 7.254 7.247 7.247
- ------------------------------------------------------------------------------------------------------------------------------
</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>
SENSITIVITY ANALYSIS (CONTINUED) LEHMAN BROTHERS
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
% HEP 10.0% 12.0% 14.0% 17.0% 20.0% 25.0% 30.0%
CLASS M-2
Avg. Life (yrs.) 10.52 9.48 8.58 7.45 6.53 5.49 4.96
Mod Duration (yrs) 6.8 6.32 5.89 5.31 4.81 4.22 3.93
Window (begin-end) (mths) 63-258 55-240 49-228 42-209 37-189 40-159 43-136
Expected Final Maturity 9/15/19 3/15/18 3/15/17 8/15/15 12/15/13 6/15/11 7/15/09
Yield @ 99.95560% 7.469 7.466 7.463 7.459 7.454 7.447 7.443
CLASS B
Avg. Life (yrs.) 10.46 9.41 8.5 7.37 6.46 5.37 4.71
Mod Duration (yrs) 6.59 6.14 5.72 5.17 4.69 4.08 3.7
Window (begin-end) (mths) 63-240 55-228 49-216 42-194 37-173 38-146 38-124
Expected Final Maturity 3/15/18 3/15/17 3/15/16 5/15/14 8/15/12 5/15/10 7/15/08
Yield @ 99.96682% 8.021 8.017 8.014 8.009 8.004 7.995 7.988
- --------------------------------------------------------------------------------------------------------------------------------
TO 10% CLEANUP CALL
- --------------------------------------------------------------------------------------------------------------------------------
% HEP 10.0% 12.0% 14.0% 17.0% 20.0% 25.0% 30.0%
CLASS A-5
Avg. Life (yrs.) 8.71 8.44 8.1 7.66 7.12 6.33 4.66
Mod Duration (yrs) 6.26 6.12 5.94 5.69 5.37 4.88 3.72
Window (begin-end) (mths) 105-105 96-102 86-99 74-97 64-94 52-92 31-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.92476% 7.235 7.235 7.233 7.232 7.23 7.226 7.213
CLASS M-1
Avg. Life (yrs.) 7.92 7.4 6.9 6.29 5.71 5.18 5.3
Mod Duration (yrs) 5.81 5.5 5.21 4.83 4.46 4.12 4.23
Window (begin-end) (mths) 63-105 55-102 49-99 42-97 37-94 43-92 50-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.96119% 7.267 7.265 7.263 7.259 7.255 7.25 7.252
CLASS M-2
Avg. Life (yrs.) 7.92 7.4 6.9 6.29 5.71 5.07 4.76
Mod Duration (yrs) 5.76 5.46 5.17 4.79 4.43 4.02 3.83
Window (begin-end) (mths) 63-105 55-102 49-99 42-97 37-94 40-92 43-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.93216% 7.467 7.465 7.462 7.459 7.455 7.45 7.447
CLASS B
Avg. Life (yrs.) 7.92 7.4 6.9 6.29 5.71 5.02 4.56
Mod Duration (yrs) 5.64 5.35 5.07 4.71 4.35 3.91 3.62
Window (begin-end) (mths) 63-105 55-102 49-99 42-97 37-94 38-92 38-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.94229% 8.018 8.015 8.013 8.009 8.005 7.998 7.993
- --------------------------------------------------------------------------------------------------------------------------------
</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 LEHMAN BROTHERS
Collateral statistics for the Initial Loans are listed below as of the CUT-OFF
DATE.
INITIAL LOANS
<TABLE>
<CAPTION>
<S> <C>
Total Number of Loans 6,726
TOTAL OUTSTANDING LOAN BALANCE $124,302,691.64
BALLOON (% OF TOTAL) 0.00%
LEVEL PAY (% OF TOTAL) 100.00%
AVERAGE LOAN PRINCIPAL BALANCE $18,481
WEIGHTED AVERAGE COUPON 12.97%
WEIGHTED AVERAGE ORIGINAL TERM (MTHS) 222.89
RANGE OF ORIGINAL TERMS 24 - 60: 1.87%
61 - 120: 13.09%
121 - 180: 23.40%
181 - 240: 32.99%
241 - 300: 28.65%
WEIGHTED AVERAGE REMAINING TERM (MTHS) 220.53
WEIGHTED AVERAGE FICO 635
FICO RANGES Unknown: 2.89%
* 560: 10.82%
561 - 580: 7.66%
581 - 600: 9.98%
601 - 620: 11.70%
621 - 640: 13.69%
641 - 660: 12.53%
661 - 680: 9.27%
681 - 700: 6.82%
701 - 720: 4.59%
721 +: 10.06%
WEIGHTED AVERAGE CLTV 82.23%
JUNIOR MORTGAGE RATIO 23.30%
LIEN POSITION (FIRST/SECOND/THIRD) 6.78% / 83.11% / 10.11%
* = Less than.
</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 (CONT'D)
Collateral statistics for the Initial Loans are listed below as of the CUT-OFF
DATE.
INITIAL LOANS
Property Type
<TABLE>
<CAPTION>
<S> <C>
SINGLE FAMILY 94.26%
2-4 FAMILY 2.03%
CONDO 2.06%
OTHER 1.64%
OCCUPANCY STATUS
OWNER OCCUPIED 98.36%
INVESTMENT/SECOND HOME 1.48% / 0.15%
GEOGRAPHIC DISTRIBUTION CA: 30.48%
other states account individually for less than IL: 6.54%
4% of principal balance FL: 5.66%
PRODUCT TYPE
FHA INSURED HOME IMPROVEMENTS 20.24%
CONVENTIONAL HOME IMPROVEMENTS 79.76%
DELINQUENCY
CURRENT 99.52%
30 - 59 DAYS 0.48%
</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).
Exhibit 99.3
FIRST UNION
CAPITAL MARKETS GROUP
ONE FIRST UNION CENTER
CHARLOTTE, NORTH CAROLINA 28288
FIRST UNION
CAPITAL MARKETS GROUP
ONE FIRST UNION CENTER
CHARLOTTE, NORTH CAROLINA 28288
DERIVED INFORMATION
$165,000,000 CERTIFICATES (APPROXIMATE)
THE MONEY STORE TRUST 1998-A
HOME IMPROVEMENT LOAN BACKED SECURITIES (POOL III)
The Money Store, Inc.
as Representative and Servicer
<PAGE>
SECURITIES OFFERED:
TO MATURITY:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Pmt. Expected Stated Expected
Approx. % of Expected WAL/MDUR Window Final Final Ratings
Certificates Size ($) Total Benchmark Price (yrs) (months) Maturity Maturity S&P/Fitch
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-1 (1) $55,523,000 33.650% Curve 99.99286 0.85/0.80 1-21 12/15/99 7/15/07 AAA/AAA
Class A-2 (1) $12,685,000 7.688% 2 Yr Tsy 99.99626 2.00/1.82 21-28 7/15/00 6/15/09 AAA/AAA
Class A-3 (1) $29,307,000 17.762% 3 Yr Tsy 99.97861 3.00/2.64 28-51 6/15/02 8/15/12 AAA/AAA
Class A-4 (1) $10,406,000 6.307% 5 Yr Tsy 99.96452 5.08/4.18 51-74 5/15/04 10/15/15 AAA/AAA
Class A-5 (1) $18,510,000 11.218% Curve 99.95991 9.86/6.67 74-232 7/15/17 5/15/30 AAA/AAA
Class M-1
(1) $12,375,000 7.500% Curve 99.98764 7.47/5.36 42-219 6/15/16 5/15/30 AA/AA+
Class M-2
(1) $12,581,000 7.625% Curve 99.95560 7.45/5.31 42-209 8/15/15 5/15/30 A/A
Class B
(1) $13,613,000 8.250% Curve 99.96682 7.37/5.17 42-194 5/15/14 5/15/30 BBB/BBB
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
TO 10% CALL (2):
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Prin. Pmt. Expected Stated Expected
Approx. % of Expected WAL/MDUR Window Final Final Ratings
Certificates Size ($) Total Benchmark Price (yrs) (months) Maturity Maturity S&P/Fitch
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A-5 (1) $18,510,000 11.218% Curve 99.92476 7.66/5.69 74-97 4/15/06 5/15/30 AAA/AAA
Class M-1 (1) $12,375,000 7.500% Curve 99.96119 6.29/4.83 42-97 4/15/06 5/15/30 AA/AA+
Class M-2 (1) $12,581,000 7.625% Curve 99.93216 6.29/4.79 42-97 4/15/06 5/15/30 A/A
Class B (1) $13,613,000 8.250% Curve 99.94229 6.29/4.71 42-97 4/15/06 5/15/30 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>
<PAGE>
SENSITIVITY ANALYSIS
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
<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.) 1.21 1.07 0.97 0.85 0.76 0.66 0.59
Mod Duration (yrs) 1.11 0.99 0.9 0.8 0.72 0.63 0.56
Window (begin-end) (mths) 1-32 1-28 1-25 1-21 1-19 1-16 1-14
Expected Final Maturity 11/15/00 7/15/00 4/15/00 12/15/99 10/15/99 7/15/99 5/15/99
Yield @ 99.99286% 6.269 6.243 6.218 6.183 6.15 6.1 6.054
CLASS A-2
Avg. Life (yrs.) 3.05 2.65 2.35 2 1.74 1.44 1.22
Mod Duration (yrs) 2.69 2.37 2.12 1.82 1.6 1.33 1.14
Window (begin-end) (mths) 32-42 28-37 25-32 21-28 19-24 16-20 14-17
Expected Final Maturity 9/15/01 4/15/01 11/15/00 7/15/00 3/15/00 11/15/99 8/15/99
Yield @ 99.99626% 6.253 6.241 6.229 6.211 6.193 6.163 6.133
CLASS A-3
Avg. Life (yrs.) 4.57 3.99 3.53 3 2.6 2.1 1.77
Mod Duration (yrs) 3.84 3.41 3.06 2.64 2.32 1.9 1.62
Window (begin-end) (mths) 42-76 37-67 32-59 28-51 24-44 20-32 17-27
Expected Final Maturity 7/15/04 10/15/03 2/15/03 6/15/02 11/15/01 11/15/00 6/15/00
Yield @ 99.97861% 6.335 6.328 6.32 6.309 6.297 6.276 6.256
CLASS A-4
Avg. Life (yrs.) 7.59 6.7 5.96 5.08 4.4 3.05 2.39
Mod Duration (yrs) 5.79 5.25 4.78 4.18 3.7 2.67 2.14
Window (begin-end) (mths) 76-108 67-96 59-86 51-74 44-64 32-52 27-31
Expected Final Maturity 3/15/07 3/15/06 5/15/05 5/15/04 7/15/03 7/15/02 10/15/00
Yield @ 99.96452% 6.561 6.558 6.553 6.547 6.54 6.518 6.497
CLASS A-5
Avg. Life (yrs.) 13.56 12.34 11.25 9.86 8.7 7.17 5.1
Mod Duration (yrs) 8.23 7.75 7.3 6.67 6.11 5.29 3.95
Window (begin-end) (mths) 108-280 96-269 86-254 74-232 64-215 52-183 31-158
Expected Final Maturity 7/15/21 8/15/20 5/15/19 7/15/17 2/15/16 6/15/13 5/15/11
Yield @ 99.95991% 7.239 7.237 7.235 7.232 7.229 7.223 7.207
CLASS M-1
Avg. Life (yrs.) 10.55 9.5 8.6 7.47 6.55 5.62 5.52
Mod Duration (yrs) 6.87 6.39 5.94 5.36 4.85 4.34 4.34
Window (begin-end) (mths) 63-267 55-252 49-235 42-219 37-199 43-168 50-144
Expected Final Maturity 6/15/20 3/15/19 10/15/17 6/15/16 10/15/14 3/15/12 3/15/10
Yield @ 99.98764% 7.27 7.267 7.264 7.259 7.254 7.247 7.247
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
SENSITIVITY ANALYSIS (CONTINUED)
PROJECTED PERFORMANCE
UNDER VARYING PREPAYMENT ASSUMPTIONS
TO MATURITY:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
% HEP 10.0% 12.0% 14.0% 17.0% 20.0% 25.0% 30.0%
CLASS M-2
Avg. Life (yrs.) 10.52 9.48 8.58 7.45 6.53 5.49 4.96
Mod Duration (yrs) 6.8 6.32 5.89 5.31 4.81 4.22 3.93
Window (begin-end) (mths) 63-258 55-240 49-228 42-209 37-189 40-159 43-136
Expected Final Maturity 9/15/19 3/15/18 3/15/17 8/15/15 12/15/13 6/15/11 7/15/09
Yield @ 99.95560% 7.469 7.466 7.463 7.459 7.454 7.447 7.443
CLASS B
Avg. Life (yrs.) 10.46 9.41 8.5 7.37 6.46 5.37 4.71
Mod Duration (yrs) 6.59 6.14 5.72 5.17 4.69 4.08 3.7
Window (begin-end) (mths) 63-240 55-228 49-216 42-194 37-173 38-146 38-124
Expected Final Maturity 3/15/18 3/15/17 3/15/16 5/15/14 8/15/12 5/15/10 7/15/08
Yield @ 99.96682% 8.021 8.017 8.014 8.009 8.004 7.995 7.988
- --------------------------------------------------------------------------------------------------------------------------------
TO 10% CLEANUP CALL
- --------------------------------------------------------------------------------------------------------------------------------
% HEP 10.0% 12.0% 14.0% 17.0% 20.0% 25.0% 30.0%
CLASS A-5
Avg. Life (yrs.) 8.71 8.44 8.1 7.66 7.12 6.33 4.66
Mod Duration (yrs) 6.26 6.12 5.94 5.69 5.37 4.88 3.72
Window (begin-end) (mths) 105-105 96-102 86-99 74-97 64-94 52-92 31-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.92476% 7.235 7.235 7.233 7.232 7.23 7.226 7.213
CLASS M-1
Avg. Life (yrs.) 7.92 7.4 6.9 6.29 5.71 5.18 5.3
Mod Duration (yrs) 5.81 5.5 5.21 4.83 4.46 4.12 4.23
Window (begin-end) (mths) 63-105 55-102 49-99 42-97 37-94 43-92 50-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.96119% 7.267 7.265 7.263 7.259 7.255 7.25 7.252
CLASS M-2
Avg. Life (yrs.) 7.92 7.4 6.9 6.29 5.71 5.07 4.76
Mod Duration (yrs) 5.76 5.46 5.17 4.79 4.43 4.02 3.83
Window (begin-end) (mths) 63-105 55-102 49-99 42-97 37-94 40-92 43-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.93216% 7.467 7.465 7.462 7.459 7.455 7.45 7.447
CLASS B
Avg. Life (yrs.) 7.92 7.4 6.9 6.29 5.71 5.02 4.56
Mod Duration (yrs) 5.64 5.35 5.07 4.71 4.35 3.91 3.62
Window (begin-end) (mths) 63-105 55-102 49-99 42-97 37-94 38-92 38-90
Expected Final Maturity 12/15/06 9/15/06 6/15/06 4/15/06 1/15/06 11/15/05 9/15/05
Yield @ 99.94229% 8.018 8.015 8.013 8.009 8.005 7.998 7.993
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
COLLATERAL SUMMARY
Collateral statistics for the Initial Loans are listed below as of the CUT-OFF
DATE.
INITIAL LOANS
<TABLE>
<CAPTION>
<S> <C>
Total Number of Loans 6,726
TOTAL OUTSTANDING LOAN BALANCE $124,302,691.64
BALLOON (% OF TOTAL) 0.00%
LEVEL PAY (% OF TOTAL) 100.00%
AVERAGE LOAN PRINCIPAL BALANCE $18,481
WEIGHTED AVERAGE COUPON 12.97%
WEIGHTED AVERAGE ORIGINAL TERM (MTHS) 222.89
RANGE OF ORIGINAL TERMS 24 - 60: 1.87%
61 - 120: 13.09%
121 - 180: 23.40%
181 - 240: 32.99%
241 - 300: 28.65%
WEIGHTED AVERAGE REMAINING TERM (MTHS) 220.53
WEIGHTED AVERAGE FICO 635
FICO RANGES Unknown: 2.89%
* 560: 10.82%
561 - 580: 7.66%
581 - 600: 9.98%
601 - 620: 11.70%
621 - 640: 13.69%
641 - 660: 12.53%
661 - 680: 9.27%
681 - 700: 6.82%
701 - 720: 4.59%
721 +: 10.06%
WEIGHTED AVERAGE CLTV 82.23%
JUNIOR MORTGAGE RATIO 23.30%
LIEN POSITION (FIRST/SECOND/THIRD) 6.78% / 83.11% / 10.11%
* = Less than.
</TABLE>
<PAGE>
COLLATERAL SUMMARY (CONT'D)
Collateral statistics for the Initial Loans are listed below as of the CUT-OFF
DATE.
INITIAL LOANS
Property Type
<TABLE>
<CAPTION>
<S> <C>
SINGLE FAMILY 94.26%
2-4 FAMILY 2.03%
CONDO 2.06%
OTHER 1.64%
OCCUPANCY STATUS
OWNER OCCUPIED 98.36%
INVESTMENT/SECOND HOME 1.48% / 0.15%
GEOGRAPHIC DISTRIBUTION CA: 30.48%
other states account individually for less than IL: 6.54%
4% of principal balance FL: 5.66%
PRODUCT TYPE
FHA INSURED HOME IMPROVEMENTS 20.24%
CONVENTIONAL HOME IMPROVEMENTS 79.76%
DELINQUENCY
CURRENT 99.52%
30 - 59 DAYS 0.48%
</TABLE>
Exhibit 99.4
MORGAN STANLEY DEAN WITTER March 9, 1998
Asset Finace Group
ABS/MBS Capital Markets
COMPUTATIONAL MATERIALS
$1,080,000,000 POOL I AND II CERTIFICATES
(APPROXIMATE)
THE MONEY STORE TRUST 1998-A
HOME EQUITY LOAN ABS
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
Preliminary Information for The Money Store Trust 1998-A
- The Money Store Inc.
Seller and Servicer
- The Money Store Trust 1998-A
Pool I Certificates
[$131,000,000] Class AF-1 Certificates [TBD %]
[$ 66,000,000] Class AF-2 Certificates [TBD %]
[$120,000,000] Class AF-3 Certificates [TBD %]
[$ 45,000,000] Class AF-4 Certificates [TBD %]
[$ 59,000,000] Class AF-5 Certificates [TBD %]
[$ 43,000,000] Class AF-6 Certificates [TBD %]
[$ 49,000,000] Class AF-7 Certificates [TBD %]
[$ 30,000,000] Class AF-8 Certificates [TBD %]
[$ 27,000,000] Class AF-9 Certificates [TBD %]
Pool II Certificates
[$510,000,000] Class AV Certificates 1M-LIBOR + [TBD %]
Pool III Certificates (not offered herein)
Total Pool I Certificates [$570,000,000]
Total Pool II Certificates [$510,000,000]
Total Pool III Certificates [$165,000,000] (not offered herein)
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
The Money Store Trust 1998-A
Title of The Money Store Asset Backed Certificates, Series 1998-A,
Securities: Classes AF-1 through AF-9, AV, AH-1 through AH-5, MH-1, MH-2
and BH (collectively, the "Certificates").
Description of This approximately [$1,245,000,000] transaction is supported
Transaction: by three distinct collateral types.
The Class AF-1 through AF-9 Certificates (the "Pool I
Certificates") are fixed-rate bonds backed primarily by
fixed-rate home equity mortgage loans. The Pool I
Certificates are credit enhanced by a surety wrap provided
by MBIA.
Certificate Class AV (the "Pool II Certificates") is a
floating-rate bond backed primarily by adjustable-rate home
equity mortgage loans. The Pool II Certificates are credit
enhanced by a surety wrap provided by MBIA.
Certificate Classes AH-1 through AH-5, MH-1, MH-2 and BH
(the "Pool III Certificates") are fixed-rate bonds backed
primarily by fixed-rate, secured home improvement loans. The
Pool III Certificates are credit enhanced through
subordination and overcollateralization. The Pool III
Certificates are not being offered herein.
- -------------------------------------------------------------------------------
CERTIFICATE CLASSES AF-1 THROUGH AF-9 (SUPPORTED BY FIXED-RATE MORTGAGE LOANS)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Settlement Date: [March 30, 1998]
Dated Date: [March 1, 1998]
Prepayment Assumption: [24% HEP]--Actual prepayments may vary.
Class AF-1 Class AF-2 Class AF-3 Class AF-4
----------------------------------------------------------------
<S> <C> <C> <C> <C>
Moody's Rating: Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA
----------------------------------------------------------------
Approximate Size: [$131,000,000] [$66,000,000] [$120,000,000] [$45,000,000]
Avg. Life to Maturity: (app.) [0.511] [1.202] [2.057] [3.051]
Avg. Life to Call: (app.) [0.511] [1.202] [2.057] [3.051]
Coupon: [TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Expected Maturity (to call): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Stated Maturity: [12/15/07] [03/15/12] [09/15/16] [03/15/20]
</TABLE>
<TABLE>
<CAPTION>
Class AF-5 Class AF-6 Class AF-7 Class AF-8 Class AF-9
----------------------------------------------------------------------------
Moody's Rating: Aaa Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA AAA
----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Approximate Size: [$59,000,000] [$43,000,000] [$49,000,000] [$30,000,000] [$27,000,000]
Avg. Life to Maturity: (app.) [4.041] [5.539] [10.252] [4.991] [7.925]
Avg. Life to Call: (app.) [4.041] [5.539] [7.868] [4.991] [7.598]
Coupon: [TBD TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [12/15/02] [11/15/04] [06/15/14] [12/15/04] [06/15/12]
Expected Maturity (to call): [12/15/02] [11/15/04] [04/15/06] [12/15/04] [04/15/06]
Stated Maturity: [12/15/23] [12/15/25] [04/15/39] [05/15/10] [04/15/39]
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
Collateral: Approx. [$570,000,000] of first and second lien, fixed-rate
mortgage loans secured primarily by one-to-four family
residences.
Payment Delay: 14 days.
Interest Accrual Interest will accrue from the 1st day of the preceeding
Period: month until the 30th day of the preceeding month.
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
- -------------------------------------------------------------------------------
CERTIFICATE CLASS AV (SUPPORTED BY ADJUSTABLE-RATE MORTGAGE LOANS)
- -------------------------------------------------------------------------------
Settlement Date: [March 30, 1998]
Dated Date: [March 15, 1998]
Prepayment Assumption: [26% CPR]--Actual prepayments may vary.
Class AV
--------------
Moody's Rating: Aaa
Standard & Poor's Rating: AAA
--------------
Approximate Size: [$510,000,000]
Avg. Life to Maturity: (app.) [2.965]
Avg. Life to Call: (app.) [2.761]
Coupon: [TBD]
Coupon Day Count: actual/360
Expected Maturity (to maturity): [02/15/15]
Expected Maturity (to call): [04/15/06]
Stated Maturity: [06/15/29]
- -------------------------------------------------------------------------------
Collateral: Approx. [$510,000,000] of first lien, adjustable-rate
home equity mortgage loans secured primarily by
one-to-four family residences.
Coupon Step up: If the 10% Clean-Up Call is not exercised, the coupon
on the Class AV Certificates will increase by [2x] the
Class AV margin.
Available Class AV is subject to an available funds cap equal to
Funds Cap: the weighted average gross coupon less (i) servicing
fee (50 bps), (ii) trust fees (trustee and surety fees)
and (iii) a 50 bp MBIA cushion beginning in month 8 and
thereafter. Each class is also subject to a hard cap of
[14%].
Shortfall If on any payment date the adjustable-rate certificate
Reimbursement: interest distribution amount divided by the outstanding
principal balance of the adjustable-rate loans is less
than the pass-through rate (which is subject to a
maximum rate equal to the [14%] hard cap), the amount
of such shortfall and the aggregate of such shortfalls
from previous payment dates together with accrued
interest at the pass-through rate will be carried
forward to the next payment date until paid. No
interest carryforward will be paid once the principal
balance of the related class has been reduced to zero.
Payment Delay: 0 days.
Interest Accrual: Interest will accrue from the 15th day of the
Period: preceeding month until the 14th day of the current
month. For the first accrual period, interest will
accrue from [March 15, 1998].
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
The Money Store Trust 1998-A
Servicer: The Money Store Inc.
Servicing Fee: 50 basis points per annum.
Trustee: [The Bank of New York for the Pool I and Pool II
Certificates.]
Co-Trustee: [First Union for the Pool III Certificates].
Cleanup Call: The Servicer may repurchase the collateral and, as a
(All Certificate result, cause the Certificates to be called at par plus
Classes) accrued interest after the remaining balances of the
loans are less than 10% of the sum of the i) the
aggregate principal balances of the initial Home Equity
Loans (Fixed and ARMs) and initial Home Improvement
Loans as of the cut-off date and ii) the original
Pre-Funded Amount.
Prefunding Account: Approximately [25%] of the three collateral pools will
be prefunded in aggregate. It is expected that all
prefunded collateral will be delivered by [March 31,
1998].
Form of Certificates: Book entry form, same day funds (through DTC, CEDEL or
Euroclear).
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on [April 15, 1998].
ERISA
Considerations: The Certificates with ratings of AAA/Aaa or AAA/AAA
will be ERISA eligible at closing.
Taxation: REMIC.
Legal Investment: [The Class AV Certificates will be SMMEA eligible. All
other certificate classes will not be SMMEA eligible.]
Credit Enhancement: Pool I (Fixed HELs) Pool II (ARMs)
------------------- --------------
1) Excess Interest 1) Excess Interest
2) Overcollateralization 2) Overcollateralization
3) Cross-Collateralization 3) Cross-Collateralization
4) MBIA Wrap 4) MBIA Wrap
Excess Interest: Excess interest cashflows from each group will be
available as credit enhancement for the related group.
Overcollateralization: The credit enhancement provisions of the Trust are
intended to provide for limited acceleration of the
senior Certificates relative to the amortization of the
related collateral, generally in the early months of
the transaction. The accelerated amortization is
achieved by applying certain excess interest collected
on the collateral to the payment of principal on the
senior Certificates, resulting in the buildup of
overcollateralization ("O/C"). This acceleration
feature is intended to create, with respect to each
Collateral Pool, an O/C amount resulting from, and
equal to, the excess of the aggregate principal
balances of the Collateral Pool over the principal
balance of the related Certificates. Once the required
O/C level is reached, the acceleration feature will
cease, unless necessary to maintain the required O/C
level.
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
***All O/C Levels are preliminary and subject to
change***
Pool I Certificates:
Initial: [0.00%] Target: [3.00%] of original
Stepdown: [6.00%] of current Floor: [0.50%] of original
Pool II Certificates:
Initial: [0.00%] Target: [5.25%] of original
Stepdown: [10.50%] of current Floor: [0.50%] of original
Cross- Monthly excess spread from each of the three collateral
Collateralization: pools that would otherwise be released to the Residual
Class holder will be available to cover current monthly
losses in the other collateral pools.
Certificate Insurer Municipal Bond Investors Assurance Corporation
for Pool I and II: ("MBIA"). MBIA's claims-paying ability is rated AAA/Aaa
by Standard and Poor's and Moody's.
Certificate Insurance Timely interest and eventual principal payments on the
for Pool I and II: Pool I and Pool II Certificates will be 100% guaranteed
by MBIA.
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
Cashflow Structure:
I. Payments are applied as follows:
Pool I: CERTIFICATE CLASSES AF-1 THROUGH AF-9 (supported by fixed-rate
home equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest without priority;
3) Principal payments are applied as follows:
A) to the Class AF-8 and then to the Class AF-9,
sequentially in that order, until the principal balance
of each such Class is retired, an amount equal to the
NAS Principal Distribution Amount (as described below)
B) to the Class AF-1, Class AF-2, Class AF-3, Class AF-4,
Class AF-5, Class AF-6, Class AF-7, Class AF-8 and
Class AF-9 Certificates, sequentially in that order,
until each such class is retired.
The NAS Principal Distribution Amount for any
remittance date will be the product of:
(i) the applicable NAS Principal Percentage (as
described below) and
(ii) the NAS Pro Rata Principal Distribution Amount (as
described below), where
NAS Principal
Remittance Dates Percentage
---------------- ----------
April 1998 - March 2001 0%
April 2001 - March 2003 45%
April 2003 - March 2004 80%
April 2004 - March 2005 100%
April 2005 and thereafter 300%
The NAS Pro Rata Principal Distribution Amount for any
payment date is the product of:
(x) a fraction, the numerator of which is the sum of the
Class AF-8 and Class AF-9 principal balances
immediately prior to such payment date and the
denominator of which is the principal balance of the
Pool I Certificates immediately prior to such payment
date; and
(y) the principal remittance amount for Pool I on such
payment date.
4) To the Residual Holder, to the extent available after
covering current monthly losses in Pool I, accrued monthly
interest based on a coupon of [2.50%] per annum on a
notional principal balance equal to the combined balance of
the Class AF-8 and Class AF-9 Certificates, commencing on
the first remittance date and concluding on the [May 1999]
Remittance Date;
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
5) Paydown of Certificates to the required level of
Overcollateralization;
6) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Pool II: CERTIFICATE CLASS AV (supported by adjustable-rate home
equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest to Class AV;
3) Interest shortfall carryforward plus interest thereon to
Class AV (if any);
4) Principal payments are applied as follows:
A) 100% to Class AV until Class AV is retired;
5) Paydown of Certificates to the required level of
Overcollateralization with the exception of an amount
described in payment priority #6, which is unavailable for
this purpose;
6) To the Residual Holder, to the extent available after
covering current monthly losses in Pool II, accrued monthly
interest based on a coupon of [0.25%] per annum on a
notional principal balance equal to the balance of the Class
AV Certificates, commencing on the first remittance date and
concluding on the [May 1999] Remittance Date;
7) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Prospectus: The Certificates are being offered pursuant to a Prospectus which
includes a Prospectus Supplement (together, the "Prospectus").
Complete information with respect to the Certificates and the
Collateral is contained in the Prospectus. The foregoing is
qualified in its entirety by the information appearing in the
Prospectus. To the extent that the foregoing is inconsistent with
the Prospectus, the Prospectus shall govern in all respects.
Offers to sell and solicitations of offers to buy the securities
are made only by the Prospectus. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
Available Funds information on Pool II Certificates:
The Certificates are subject to the following available funds cap:
Available Funds Cap = The lesser of
i) [14.0%]; and
ii) Pool II Collateral Interest - Servicing Fee - Ongoing Trust
Fees - 50 bp MBIA cushion beginning in month 8 and
thereafter.
(Servicing Fee + Ongoing Trust Fees assumed to be [62.25bp])
AVAILABLE
DATE FUNDS CAP (30/360 Daycount)
- -----------------
4/98 9.468
5/98 9.484
6/98 9.508
7/98 9.545
8/98 9.602
9/98 9.631
10/98 9.651
11/98 9.167
12/98 9.189
1/99 9.238
2/99 9.277
3/99 9.297
4/99 9.308
5/99 9.308
6/99 9.310
7/99 9.310
8/99 9.310
9/99 9.466
10/99 9.466
11/99 9.466
12/99 9.575
1/00 9.797
2/00 10.025
3/00 10.150
4/00 10.150
5/00 10.150
6/00 10.249
7/00 10.249
8/00 10.249
9/00 10.249
10/00 10.249
11/00 10.249
12/00 10.249
1/01 10.249
2/01 10.249
3/01 10.249
4/01 10.250
5/01 10.250
6/01 10.250
7/01 10.250
8/01 10.250
9/01 10.250
10/01 10.250
11/01 10.250
12/01 10.250
1/02 10.250
2/02 10.250
3/02 10.420
4/02 10.849
5/02 10.849
6/02 10.849
7/02 10.849
8/02 10.849
9/02 10.849
10/02 10.849
11/02 10.849
12/02 10.849
1/03 10.849
2/03 10.849
3/03 10.849 and so on...
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $131,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $131,000,000.00 BOND AF-1 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.469 6.468 6.468 6.468 6.469 6.469 6.469 6.469
99-24+ 6.436 6.442 6.440 6.438 6.435 6.433 6.432 6.430
99-25 6.404 6.415 6.411 6.408 6.401 6.398 6.395 6.391
99-25+ 6.372 6.389 6.383 6.377 6.367 6.362 6.357 6.352
99-26 6.340 6.362 6.354 6.347 6.333 6.326 6.320 6.313
99-26+ 6.308 6.336 6.326 6.317 6.300 6.291 6.283 6.274
99-27 6.276 6.309 6.298 6.287 6.266 6.255 6.246 6.235
99-27+ 6.244 6.283 6.269 6.256 6.232 6.220 6.208 6.196
99-28 6.212 6.256 6.241 6.226 6.198 6.184 6.171 6.157
99-28+ 6.180 6.230 6.212 6.196 6.164 6.149 6.134 6.118
99-29 6.148 6.203 6.184 6.166 6.131 6.113 6.097 6.079
99-29+ 6.116 6.177 6.156 6.135 6.097 6.078 6.060 6.041
99-30 6.084 6.150 6.127 6.105 6.063 6.042 6.023 6.002
99-30+ 6.052 6.124 6.099 6.075 6.030 6.007 5.985 5.963
99-31 6.020 6.098 6.071 6.045 5.996 5.971 5.948 5.924
99-31+ 5.988 6.071 6.042 6.015 5.962 5.936 5.911 5.885
100-00 5.956 6.045 6.014 5.984 5.929 5.900 5.874 5.846
100-00+ 5.924 6.018 5.986 5.954 5.895 5.865 5.837 5.808
100-01 5.892 5.992 5.957 5.924 5.861 5.830 5.800 5.769
100-01+ 5.860 5.966 5.929 5.894 5.828 5.794 5.763 5.730
100-02 5.828 5.939 5.901 5.864 5.794 5.759 5.726 5.691
100-02+ 5.797 5.913 5.873 5.834 5.760 5.723 5.689 5.652
100-03 5.765 5.887 5.844 5.804 5.727 5.688 5.652 5.614
100-03+ 5.733 5.860 5.816 5.773 5.693 5.653 5.615 5.575
100-04 5.701 5.834 5.788 5.743 5.660 5.617 5.578 5.536
100-04+ 5.669 5.808 5.760 5.713 5.626 5.582 5.541 5.498
100-05 5.637 5.782 5.731 5.683 5.592 5.547 5.504 5.459
100-05+ 5.606 5.755 5.703 5.653 5.559 5.511 5.467 5.420
100-06 5.574 5.729 5.675 5.623 5.525 5.476 5.430 5.382
100-06+ 5.542 5.703 5.647 5.593 5.492 5.441 5.394 5.343
100-07 5.510 5.676 5.619 5.563 5.458 5.406 5.357 5.304
100-07+ 5.478 5.650 5.590 5.533 5.425 5.370 5.320 5.266
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 0.511 0.622 0.578 0.542 0.484 0.460 0.439 0.419
Last Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Mod.Dur. @ 100-00 0.487 0.589 0.549 0.515 0.462 0.439 0.419 0.401
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $66,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $66,000,000.00 BOND AF-2 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.268 6.267 6.267 6.268 6.269 6.270 6.270 6.271
99-24+ 6.255 6.256 6.255 6.255 6.254 6.254 6.253 6.253
99-25 6.241 6.245 6.243 6.242 6.239 6.238 6.237 6.235
99-25+ 6.227 6.234 6.232 6.229 6.224 6.222 6.220 6.218
99-26 6.213 6.223 6.220 6.216 6.210 6.206 6.203 6.200
99-26+ 6.199 6.212 6.208 6.203 6.195 6.191 6.186 6.182
99-27 6.185 6.201 6.196 6.191 6.180 6.175 6.170 6.165
99-27+ 6.171 6.190 6.184 6.178 6.165 6.159 6.153 6.147
99-28 6.157 6.179 6.172 6.165 6.150 6.143 6.136 6.130
99-28+ 6.144 6.169 6.160 6.152 6.135 6.128 6.119 6.112
99-29 6.130 6.158 6.148 6.139 6.121 6.112 6.103 6.094
99-29+ 6.116 6.147 6.136 6.126 6.106 6.096 6.086 6.077
99-30 6.102 6.136 6.125 6.113 6.091 6.080 6.069 6.059
99-30+ 6.088 6.125 6.113 6.100 6.076 6.064 6.053 6.042
99-31 6.074 6.114 6.101 6.088 6.061 6.049 6.036 6.024
99-31+ 6.061 6.103 6.089 6.075 6.046 6.033 6.019 6.006
100-00 6.047 6.092 6.077 6.062 6.032 6.017 6.003 5.989
100-00+ 6.033 6.082 6.065 6.049 6.017 6.002 5.986 5.971
100-01 6.019 6.071 6.053 6.036 6.002 5.986 5.969 5.954
100-01+ 6.005 6.060 6.042 6.023 5.987 5.970 5.952 5.936
100-02 5.991 6.049 6.030 6.011 5.973 5.954 5.936 5.919
100-02+ 5.978 6.038 6.018 5.998 5.958 5.939 5.919 5.901
100-03 5.964 6.027 6.006 5.985 5.943 5.923 5.902 5.884
100-03+ 5.950 6.016 5.994 5.972 5.928 5.907 5.886 5.866
100-04 5.936 6.006 5.982 5.959 5.913 5.891 5.869 5.848
100-04+ 5.922 5.995 5.971 5.946 5.899 5.876 5.852 5.831
100-05 5.909 5.984 5.959 5.934 5.884 5.860 5.836 5.813
100-05+ 5.895 5.973 5.947 5.921 5.869 5.844 5.819 5.796
100-06 5.881 5.962 5.935 5.908 5.854 5.829 5.803 5.778
100-06+ 5.867 5.951 5.923 5.895 5.840 5.813 5.786 5.761
100-07 5.853 5.941 5.911 5.882 5.825 5.797 5.769 5.743
100-07+ 5.840 5.930 5.900 5.870 5.810 5.782 5.753 5.726
First Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Average Life 1.202 1.547 1.412 1.298 1.120 1.051 0.989 0.938
Last Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Mod.Dur. @ 100-00 1.124 1.431 1.311 1.210 1.050 0.988 0.931 0.885
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $120,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $120,000,000.00 BOND AF-3 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.255 6.254 6.254 6.255 6.255 6.256 6.256 6.257
99-24+ 6.247 6.247 6.247 6.247 6.246 6.246 6.246 6.246
99-25 6.238 6.241 6.240 6.239 6.238 6.237 6.236 6.235
99-25+ 6.230 6.234 6.233 6.232 6.229 6.227 6.226 6.224
99-26 6.222 6.228 6.226 6.224 6.220 6.217 6.215 6.213
99-26+ 6.213 6.222 6.219 6.216 6.211 6.208 6.205 6.202
99-27 6.205 6.215 6.212 6.208 6.202 6.198 6.195 6.191
99-27+ 6.197 6.209 6.205 6.201 6.193 6.189 6.185 6.181
99-28 6.188 6.202 6.198 6.193 6.184 6.179 6.174 6.170
99-28+ 6.180 6.196 6.190 6.185 6.175 6.170 6.164 6.159
99-29 6.172 6.189 6.183 6.178 6.166 6.160 6.154 6.148
99-29+ 6.163 6.183 6.176 6.170 6.157 6.150 6.144 6.137
99-30 6.155 6.176 6.169 6.162 6.148 6.141 6.134 6.126
99-30+ 6.147 6.170 6.162 6.154 6.139 6.131 6.123 6.116
99-31 6.139 6.163 6.155 6.147 6.130 6.122 6.113 6.105
99-31+ 6.130 6.157 6.148 6.139 6.121 6.112 6.103 6.094
100-00 6.122 6.150 6.141 6.131 6.112 6.103 6.093 6.083
100-00+ 6.114 6.144 6.134 6.124 6.103 6.093 6.083 6.072
100-01 6.105 6.137 6.127 6.116 6.094 6.084 6.073 6.061
100-01+ 6.097 6.131 6.120 6.108 6.085 6.074 6.062 6.051
100-02 6.089 6.125 6.113 6.101 6.077 6.064 6.052 6.040
100-02+ 6.080 6.118 6.105 6.093 6.068 6.055 6.042 6.029
100-03 6.072 6.112 6.098 6.085 6.059 6.045 6.032 6.018
100-03+ 6.064 6.105 6.091 6.078 6.050 6.036 6.022 6.007
100-04 6.056 6.099 6.084 6.070 6.041 6.026 6.011 5.997
100-04+ 6.047 6.092 6.077 6.062 6.032 6.017 6.001 5.986
100-05 6.039 6.086 6.070 6.055 6.023 6.007 5.991 5.975
100-05+ 6.031 6.079 6.063 6.047 6.014 5.998 5.981 5.964
100-06 6.022 6.073 6.056 6.039 6.005 5.988 5.971 5.953
100-06+ 6.014 6.067 6.049 6.032 5.996 5.979 5.961 5.943
100-07 6.006 6.060 6.042 6.024 5.987 5.969 5.950 5.932
100-07+ 5.997 6.054 6.035 6.016 5.978 5.959 5.940 5.921
First Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Average Life 2.057 2.699 2.444 2.234 1.904 1.772 1.656 1.554
Last Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Mod.Dur. @ 100-00 1.872 2.407 2.197 2.022 1.741 1.627 1.526 1.436
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $45,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $45,000,000.00 BOND AF-4 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.329 6.329 6.329 6.329 6.330 6.330 6.330 6.330
99-24+ 6.324 6.324 6.324 6.324 6.323 6.323 6.323 6.322
99-25 6.318 6.320 6.319 6.318 6.317 6.316 6.316 6.315
99-25+ 6.312 6.315 6.314 6.313 6.311 6.310 6.308 6.307
99-26 6.306 6.311 6.309 6.308 6.305 6.303 6.301 6.300
99-26+ 6.300 6.307 6.305 6.303 6.298 6.296 6.294 6.292
99-27 6.295 6.302 6.300 6.297 6.292 6.290 6.287 6.284
99-27+ 6.289 6.298 6.295 6.292 6.286 6.283 6.280 6.277
99-28 6.283 6.293 6.290 6.287 6.280 6.276 6.273 6.269
99-28+ 6.277 6.289 6.285 6.281 6.273 6.269 6.265 6.261
99-29 6.272 6.284 6.280 6.276 6.267 6.263 6.258 6.254
99-29+ 6.266 6.280 6.275 6.271 6.261 6.256 6.251 6.246
99-30 6.260 6.276 6.271 6.265 6.255 6.249 6.244 6.238
99-30+ 6.254 6.271 6.266 6.260 6.249 6.243 6.237 6.231
99-31 6.248 6.267 6.261 6.255 6.242 6.236 6.230 6.223
99-31+ 6.243 6.262 6.256 6.249 6.236 6.229 6.223 6.215
100-00 6.237 6.258 6.251 6.244 6.230 6.223 6.215 6.208
100-00+ 6.231 6.253 6.246 6.239 6.224 6.216 6.208 6.200
100-01 6.225 6.249 6.241 6.233 6.217 6.209 6.201 6.192
100-01+ 6.220 6.245 6.237 6.228 6.211 6.203 6.194 6.185
100-02 6.214 6.240 6.232 6.223 6.205 6.196 6.187 6.177
100-02+ 6.208 6.236 6.227 6.217 6.199 6.189 6.180 6.170
100-03 6.202 6.231 6.222 6.212 6.193 6.183 6.172 6.162
100-03+ 6.197 6.227 6.217 6.207 6.186 6.176 6.165 6.154
100-04 6.191 6.223 6.212 6.202 6.180 6.169 6.158 6.147
100-04+ 6.185 6.218 6.207 6.196 6.174 6.163 6.151 6.139
100-05 6.179 6.214 6.203 6.191 6.168 6.156 6.144 6.131
100-05+ 6.173 6.209 6.198 6.186 6.161 6.149 6.137 6.124
100-06 6.168 6.205 6.193 6.180 6.155 6.143 6.130 6.116
100-06+ 6.162 6.200 6.188 6.175 6.149 6.136 6.123 6.109
100-07 6.156 6.196 6.183 6.170 6.143 6.129 6.115 6.101
100-07+ 6.150 6.192 6.178 6.164 6.137 6.123 6.108 6.093
First Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Average Life 3.051 4.111 3.695 3.344 2.810 2.601 2.415 2.249
Last Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Mod.Dur. @ 100-00 2.694 3.515 3.200 2.927 2.499 2.328 2.174 2.035
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $59,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $59,000,000.00 BOND AF-5 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.481 6.481 6.481 6.481 6.481 6.481 6.481 6.481
99-24+ 6.477 6.478 6.477 6.477 6.476 6.476 6.475 6.475
99-25 6.472 6.474 6.473 6.473 6.471 6.471 6.470 6.469
99-25+ 6.468 6.471 6.470 6.469 6.466 6.465 6.464 6.463
99-26 6.463 6.467 6.466 6.464 6.462 6.460 6.459 6.457
99-26+ 6.458 6.464 6.462 6.460 6.457 6.455 6.453 6.451
99-27 6.454 6.460 6.458 6.456 6.452 6.450 6.447 6.445
99-27+ 6.449 6.457 6.454 6.452 6.447 6.444 6.442 6.439
99-28 6.445 6.453 6.451 6.448 6.442 6.439 6.436 6.433
99-28+ 6.440 6.450 6.447 6.444 6.437 6.434 6.430 6.427
99-29 6.436 6.446 6.443 6.439 6.432 6.428 6.425 6.421
99-29+ 6.431 6.443 6.439 6.435 6.427 6.423 6.419 6.415
99-30 6.427 6.439 6.435 6.431 6.423 6.418 6.413 6.409
99-30+ 6.422 6.436 6.431 6.427 6.418 6.413 6.408 6.403
99-31 6.418 6.432 6.428 6.423 6.413 6.407 6.402 6.397
99-31+ 6.413 6.429 6.424 6.419 6.408 6.402 6.396 6.390
100-00 6.409 6.425 6.420 6.414 6.403 6.397 6.391 6.384
100-00+ 6.404 6.422 6.416 6.410 6.398 6.392 6.385 6.378
100-01 6.400 6.419 6.412 6.406 6.393 6.386 6.379 6.372
100-01+ 6.395 6.415 6.409 6.402 6.388 6.381 6.374 6.366
100-02 6.391 6.412 6.405 6.398 6.384 6.376 6.368 6.360
100-02+ 6.386 6.408 6.401 6.394 6.379 6.371 6.362 6.354
100-03 6.382 6.405 6.397 6.390 6.374 6.365 6.357 6.348
100-03+ 6.377 6.401 6.393 6.385 6.369 6.360 6.351 6.342
100-04 6.373 6.398 6.390 6.381 6.364 6.355 6.346 6.336
100-04+ 6.368 6.394 6.386 6.377 6.359 6.350 6.340 6.330
100-05 6.364 6.391 6.382 6.373 6.354 6.344 6.334 6.324
100-05+ 6.359 6.387 6.378 6.369 6.349 6.339 6.329 6.318
100-06 6.355 6.384 6.374 6.365 6.345 6.334 6.323 6.312
100-06+ 6.350 6.381 6.371 6.361 6.340 6.329 6.317 6.306
100-07 6.346 6.377 6.367 6.356 6.335 6.323 6.312 6.300
100-07+ 6.341 6.374 6.363 6.352 6.330 6.318 6.306 6.294
First Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Average Life 4.041 5.496 4.914 4.438 3.697 3.397 3.138 2.913
Last Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Mod.Dur. @ 100-00 3.449 4.486 4.083 3.742 3.189 2.957 2.754 2.575
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $43,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $43,000,000.00 BOND AF-6 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.598 6.598 6.598 6.598 6.598 6.598 6.598 6.598
99-24+ 6.595 6.596 6.595 6.595 6.594 6.594 6.594 6.593
99-25 6.591 6.593 6.593 6.592 6.591 6.590 6.589 6.589
99-25+ 6.588 6.591 6.590 6.589 6.587 6.586 6.585 6.584
99-26 6.584 6.588 6.587 6.586 6.583 6.582 6.580 6.579
99-26+ 6.581 6.586 6.584 6.582 6.579 6.578 6.576 6.574
99-27 6.577 6.583 6.581 6.579 6.576 6.574 6.572 6.570
99-27+ 6.574 6.581 6.579 6.576 6.572 6.570 6.567 6.565
99-28 6.570 6.578 6.576 6.573 6.568 6.566 6.563 6.560
99-28+ 6.567 6.576 6.573 6.570 6.564 6.561 6.559 6.556
99-29 6.564 6.573 6.570 6.567 6.560 6.557 6.554 6.551
99-29+ 6.560 6.571 6.567 6.564 6.557 6.553 6.550 6.546
99-30 6.557 6.568 6.565 6.560 6.553 6.549 6.546 6.542
99-30+ 6.553 6.566 6.562 6.557 6.549 6.545 6.541 6.537
99-31 6.550 6.563 6.559 6.554 6.545 6.541 6.537 6.532
99-31+ 6.546 6.561 6.556 6.551 6.542 6.537 6.533 6.528
100-00 6.543 6.558 6.553 6.548 6.538 6.533 6.528 6.523
100-00+ 6.539 6.556 6.551 6.545 6.534 6.529 6.524 6.518
100-01 6.536 6.553 6.548 6.542 6.530 6.525 6.520 6.514
100-01+ 6.532 6.551 6.545 6.539 6.527 6.521 6.515 6.509
100-02 6.529 6.548 6.542 6.535 6.523 6.517 6.511 6.504
100-02+ 6.526 6.546 6.539 6.532 6.519 6.513 6.506 6.500
100-03 6.522 6.543 6.537 6.529 6.515 6.509 6.502 6.495
100-03+ 6.519 6.541 6.534 6.526 6.512 6.505 6.498 6.491
100-04 6.515 6.538 6.531 6.523 6.508 6.501 6.493 6.486
100-04+ 6.512 6.536 6.528 6.520 6.504 6.497 6.489 6.481
100-05 6.508 6.533 6.525 6.517 6.501 6.493 6.485 6.477
100-05+ 6.505 6.531 6.523 6.513 6.497 6.489 6.480 6.472
100-06 6.501 6.528 6.520 6.510 6.493 6.485 6.476 6.467
100-06+ 6.498 6.526 6.517 6.507 6.489 6.481 6.472 6.463
100-07 6.495 6.523 6.514 6.504 6.486 6.476 6.467 6.458
100-07+ 6.491 6.521 6.511 6.501 6.482 6.472 6.463 6.453
First Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Average Life 5.539 8.353 7.194 6.230 5.019 4.584 4.219 3.897
Last Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Mod.Dur. @ 100-00 4.501 6.222 5.547 4.952 4.144 3.837 3.572 3.333
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 7.013 7.013 7.013 7.013 7.012 7.012 7.012 7.012
99-24+ 7.010 7.011 7.011 7.011 7.010 7.010 7.009 7.008
99-25 7.008 7.009 7.009 7.009 7.008 7.007 7.006 7.005
99-25+ 7.006 7.008 7.007 7.007 7.005 7.004 7.003 7.002
99-26 7.004 7.006 7.005 7.005 7.003 7.002 7.001 6.999
99-26+ 7.002 7.004 7.003 7.002 7.000 6.999 6.998 6.996
99-27 6.999 7.002 7.001 7.000 6.998 6.997 6.995 6.993
99-27+ 6.997 7.000 6.999 6.998 6.996 6.994 6.992 6.990
99-28 6.995 6.998 6.997 6.996 6.993 6.991 6.989 6.987
99-28+ 6.993 6.996 6.995 6.994 6.991 6.989 6.986 6.984
99-29 6.990 6.995 6.993 6.992 6.988 6.986 6.984 6.981
99-29+ 6.988 6.993 6.991 6.990 6.986 6.984 6.981 6.978
99-30 6.986 6.991 6.990 6.988 6.984 6.981 6.978 6.975
99-30+ 6.984 6.989 6.988 6.986 6.981 6.978 6.975 6.972
99-31 6.982 6.987 6.986 6.984 6.979 6.976 6.972 6.969
99-31+ 6.979 6.985 6.984 6.982 6.976 6.973 6.970 6.965
100-00 6.977 6.983 6.982 6.980 6.974 6.971 6.967 6.962
100-00+ 6.975 6.982 6.980 6.978 6.972 6.968 6.964 6.959
100-01 6.973 6.980 6.978 6.976 6.969 6.965 6.961 6.956
100-01+ 6.971 6.978 6.976 6.974 6.967 6.963 6.958 6.953
100-02 6.968 6.976 6.974 6.971 6.965 6.960 6.955 6.950
100-02+ 6.966 6.974 6.972 6.969 6.962 6.958 6.953 6.947
100-03 6.964 6.972 6.970 6.967 6.960 6.955 6.950 6.944
100-03+ 6.962 6.971 6.968 6.965 6.957 6.953 6.947 6.941
100-04 6.959 6.969 6.966 6.963 6.955 6.950 6.944 6.938
100-04+ 6.957 6.967 6.964 6.961 6.953 6.947 6.941 6.935
100-05 6.955 6.965 6.962 6.959 6.950 6.945 6.939 6.932
100-05+ 6.953 6.963 6.960 6.957 6.948 6.942 6.936 6.929
100-06 6.951 6.961 6.958 6.955 6.945 6.940 6.933 6.926
100-06+ 6.948 6.960 6.956 6.953 6.943 6.937 6.930 6.923
100-07 6.946 6.958 6.954 6.951 6.941 6.934 6.927 6.919
100-07+ 6.944 6.956 6.952 6.949 6.938 6.932 6.925 6.916
First Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Average Life 10.252 13.464 12.344 11.311 9.234 8.305 7.440 6.658
Last Payment 16.208 20.792 19.042 17.542 14.958 14.208 13.625 12.792
Mod.Dur. @ 100-00 7.016 8.412 7.966 7.520 6.497 5.999 5.516 5.061
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-23 7.017 7.017 7.017 7.017 7.018 7.018 7.018 7.018
99-23+ 7.015 7.015 7.015 7.015 7.015 7.015 7.015 7.015
99-24 7.012 7.012 7.012 7.012 7.012 7.012 7.011 7.011
99-24+ 7.009 7.010 7.010 7.010 7.009 7.009 7.008 7.008
99-25 7.007 7.008 7.007 7.007 7.006 7.006 7.005 7.005
99-25+ 7.004 7.005 7.005 7.005 7.003 7.003 7.002 7.001
99-26 7.001 7.003 7.002 7.002 7.001 7.000 6.999 6.998
99-26+ 6.999 7.001 7.000 6.999 6.998 6.997 6.996 6.994
99-27 6.996 6.998 6.998 6.997 6.995 6.994 6.993 6.991
99-27+ 6.994 6.996 6.995 6.994 6.992 6.991 6.989 6.988
99-28 6.991 6.993 6.993 6.992 6.989 6.988 6.986 6.984
99-28+ 6.988 6.991 6.990 6.989 6.987 6.985 6.983 6.981
99-29 6.986 6.989 6.988 6.987 6.984 6.982 6.980 6.978
99-29+ 6.983 6.986 6.985 6.984 6.981 6.979 6.977 6.974
99-30 6.980 6.984 6.983 6.982 6.978 6.976 6.974 6.971
99-30+ 6.978 6.982 6.980 6.979 6.975 6.973 6.970 6.968
99-31 6.975 6.979 6.978 6.977 6.973 6.970 6.967 6.964
99-31+ 6.972 6.977 6.975 6.974 6.970 6.967 6.964 6.961
100-00 6.970 6.974 6.973 6.971 6.967 6.964 6.961 6.958
100-00+ 6.967 6.972 6.971 6.969 6.964 6.961 6.958 6.954
100-01 6.964 6.970 6.968 6.966 6.961 6.958 6.955 6.951
100-01+ 6.962 6.967 6.966 6.964 6.958 6.955 6.952 6.947
100-02 6.959 6.965 6.963 6.961 6.956 6.952 6.948 6.944
100-02+ 6.956 6.963 6.961 6.959 6.953 6.950 6.945 6.941
100-03 6.954 6.960 6.958 6.956 6.950 6.947 6.942 6.937
100-03+ 6.951 6.958 6.956 6.954 6.947 6.944 6.939 6.934
100-04 6.948 6.955 6.953 6.951 6.944 6.941 6.936 6.931
100-04+ 6.946 6.953 6.951 6.949 6.942 6.938 6.933 6.927
100-05 6.943 6.951 6.948 6.946 6.939 6.935 6.930 6.924
100-05+ 6.941 6.948 6.946 6.943 6.936 6.932 6.926 6.921
100-06 6.938 6.946 6.944 6.941 6.933 6.929 6.923 6.917
100-06+ 6.935 6.944 6.941 6.938 6.930 6.926 6.920 6.914
First Payment 6.625 9.125 8.708 8.125 5.875 5.375 4.875 4.458
Average Life 7.868 9.125 8.708 8.288 7.296 6.828 6.315 5.856
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 99-31 5.867 6.547 6.329 6.103 5.534 5.251 4.932 4.637
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $30,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $30,000,000.00 BOND AF-8 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.359 6.359 6.359 6.359 6.359 6.359 6.359 6.359
99-24+ 6.355 6.355 6.355 6.355 6.355 6.355 6.355 6.355
99-25 6.351 6.352 6.352 6.352 6.351 6.351 6.351 6.351
99-25+ 6.348 6.348 6.348 6.348 6.347 6.347 6.347 6.347
99-26 6.344 6.345 6.344 6.344 6.344 6.343 6.343 6.343
99-26+ 6.340 6.341 6.341 6.340 6.340 6.339 6.339 6.339
99-27 6.336 6.338 6.337 6.337 6.336 6.336 6.335 6.335
99-27+ 6.333 6.334 6.334 6.333 6.332 6.332 6.331 6.331
99-28 6.329 6.331 6.330 6.329 6.328 6.328 6.327 6.327
99-28+ 6.325 6.327 6.326 6.326 6.324 6.324 6.323 6.323
99-29 6.321 6.324 6.323 6.322 6.321 6.320 6.319 6.319
99-29+ 6.317 6.320 6.319 6.318 6.317 6.316 6.315 6.315
99-30 6.314 6.316 6.316 6.315 6.313 6.312 6.311 6.311
99-30+ 6.310 6.313 6.312 6.311 6.309 6.308 6.307 6.307
99-31 6.306 6.309 6.308 6.307 6.305 6.304 6.303 6.302
99-31+ 6.302 6.306 6.305 6.304 6.301 6.300 6.299 6.298
100-00 6.299 6.302 6.301 6.300 6.298 6.296 6.295 6.294
100-00+ 6.295 6.299 6.298 6.296 6.294 6.293 6.291 6.290
100-01 6.291 6.295 6.294 6.293 6.290 6.289 6.287 6.286
100-01+ 6.287 6.292 6.290 6.289 6.286 6.285 6.283 6.282
100-02 6.284 6.288 6.287 6.285 6.282 6.281 6.280 6.278
100-02+ 6.280 6.285 6.283 6.281 6.278 6.277 6.276 6.274
100-03 6.276 6.281 6.280 6.278 6.275 6.273 6.272 6.270
100-03+ 6.272 6.278 6.276 6.274 6.271 6.269 6.268 6.266
100-04 6.269 6.274 6.272 6.270 6.267 6.265 6.264 6.262
100-04+ 6.265 6.271 6.269 6.267 6.263 6.261 6.260 6.258
100-05 6.261 6.267 6.265 6.263 6.259 6.257 6.256 6.254
100-05+ 6.257 6.264 6.262 6.259 6.255 6.254 6.252 6.250
100-06 6.254 6.260 6.258 6.256 6.252 6.250 6.248 6.246
100-06+ 6.250 6.256 6.254 6.252 6.248 6.246 6.244 6.242
100-07 6.246 6.253 6.251 6.248 6.244 6.242 6.240 6.238
100-07+ 6.242 6.249 6.247 6.245 6.240 6.238 6.236 6.234
First Payment 3.042 3.042 3.042 3.042 3.042 3.042 3.042 3.042
Average Life 4.991 5.390 5.255 5.116 4.879 4.776 4.682 4.594
Last Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Mod.Dur. @ 100-00 4.132 4.404 4.312 4.218 4.053 3.981 3.915 3.853
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.512 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.509 6.509 6.509 6.508
99-26 6.506 6.507 6.507 6.506 6.506 6.506 6.506 6.506
99-26+ 6.504 6.504 6.504 6.504 6.504 6.503 6.503 6.503
99-27 6.501 6.502 6.502 6.501 6.501 6.501 6.500 6.500
99-27+ 6.499 6.499 6.499 6.499 6.498 6.498 6.498 6.498
99-28 6.496 6.497 6.497 6.496 6.496 6.495 6.495 6.495
99-28+ 6.493 6.495 6.494 6.494 6.493 6.493 6.492 6.492
99-29 6.491 6.492 6.492 6.491 6.490 6.490 6.490 6.489
99-29+ 6.488 6.490 6.489 6.489 6.488 6.487 6.487 6.487
99-30 6.486 6.487 6.487 6.486 6.485 6.485 6.484 6.484
99-30+ 6.483 6.485 6.484 6.483 6.482 6.482 6.482 6.481
99-31 6.480 6.482 6.482 6.481 6.480 6.479 6.479 6.478
99-31+ 6.478 6.480 6.479 6.478 6.477 6.477 6.476 6.476
100-00 6.475 6.477 6.477 6.476 6.475 6.474 6.473 6.473
100-00+ 6.473 6.475 6.474 6.473 6.472 6.471 6.471 6.470
100-01 6.470 6.472 6.472 6.471 6.469 6.469 6.468 6.468
100-01+ 6.467 6.470 6.469 6.468 6.467 6.466 6.465 6.465
100-02 6.465 6.468 6.467 6.466 6.464 6.463 6.463 6.462
100-02+ 6.462 6.465 6.464 6.463 6.461 6.461 6.460 6.459
100-03 6.460 6.463 6.462 6.461 6.459 6.458 6.457 6.457
100-03+ 6.457 6.460 6.459 6.458 6.456 6.455 6.455 6.454
100-04 6.454 6.458 6.457 6.455 6.454 6.453 6.452 6.451
100-04+ 6.452 6.455 6.454 6.453 6.451 6.450 6.449 6.448
100-05 6.449 6.453 6.452 6.450 6.448 6.447 6.447 6.446
100-05+ 6.447 6.450 6.449 6.448 6.446 6.445 6.444 6.443
100-06 6.444 6.448 6.447 6.445 6.443 6.442 6.441 6.440
100-06+ 6.442 6.445 6.444 6.443 6.440 6.439 6.439 6.438
100-07 6.439 6.443 6.442 6.440 6.438 6.437 6.436 6.435
100-07+ 6.436 6.441 6.439 6.438 6.435 6.434 6.433 6.432
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.925 8.521 8.294 8.096 7.775 7.638 7.520 7.411
Last Payment 14.208 20.542 18.875 17.375 14.208 14.208 13.458 12.625
Mod.Dur. @ 100-00 6.003 6.333 6.209 6.100 5.918 5.838 5.768 5.702
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.511 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.508 6.508 6.508 6.508
99-26 6.506 6.507 6.506 6.506 6.506 6.506 6.505 6.505
99-26+ 6.503 6.504 6.504 6.504 6.503 6.503 6.503 6.502
99-27 6.501 6.502 6.501 6.501 6.500 6.500 6.500 6.499
99-27+ 6.498 6.499 6.499 6.498 6.498 6.497 6.497 6.497
99-28 6.495 6.497 6.496 6.496 6.495 6.495 6.494 6.494
99-28+ 6.493 6.494 6.493 6.493 6.492 6.492 6.491 6.491
99-29 6.490 6.491 6.491 6.490 6.489 6.489 6.488 6.488
99-29+ 6.487 6.489 6.488 6.488 6.487 6.486 6.486 6.485
99-30 6.485 6.486 6.486 6.485 6.484 6.483 6.483 6.482
99-30+ 6.482 6.484 6.483 6.482 6.481 6.481 6.480 6.479
99-31 6.479 6.481 6.481 6.480 6.479 6.478 6.477 6.476
99-31+ 6.477 6.479 6.478 6.477 6.476 6.475 6.474 6.474
100-00 6.474 6.476 6.475 6.475 6.473 6.472 6.471 6.471
100-00+ 6.471 6.474 6.473 6.472 6.470 6.470 6.469 6.468
100-01 6.469 6.471 6.470 6.469 6.468 6.467 6.466 6.465
100-01+ 6.466 6.469 6.468 6.467 6.465 6.464 6.463 6.462
100-02 6.463 6.466 6.465 6.464 6.462 6.461 6.460 6.459
100-02+ 6.461 6.464 6.463 6.461 6.459 6.459 6.457 6.456
100-03 6.458 6.461 6.460 6.459 6.457 6.456 6.455 6.453
100-03+ 6.455 6.459 6.457 6.456 6.454 6.453 6.452 6.451
100-04 6.453 6.456 6.455 6.454 6.451 6.450 6.449 6.448
100-04+ 6.450 6.454 6.452 6.451 6.449 6.448 6.446 6.445
100-05 6.447 6.451 6.450 6.448 6.446 6.445 6.443 6.442
100-05+ 6.445 6.449 6.447 6.446 6.443 6.442 6.440 6.439
100-06 6.442 6.446 6.445 6.443 6.440 6.439 6.438 6.436
100-06+ 6.439 6.444 6.442 6.441 6.438 6.437 6.435 6.433
100-07 6.437 6.441 6.440 6.438 6.435 6.434 6.432 6.430
100-07+ 6.434 6.439 6.437 6.435 6.432 6.431 6.429 6.428
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.598 8.208 7.978 7.759 7.407 7.271 7.078 6.917
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 100-00 5.825 6.176 6.046 5.919 5.711 5.629 5.511 5.412
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $510,000,000.00 DATED DATE: 03/15/98
CURRENT COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $510,000,000.00 BOND AV DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
ASSUMED CONSTANT LIBOR-1M 5.6875
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 13.00% 20.00% 33.00% 39.00% 45.00% 50.00%
FIX: 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 29.263 25.047 27.284 31.777 34.170 36.888 39.492
99-24+ 28.619 24.667 26.763 30.975 33.217 35.765 38.205
99-25 27.974 24.288 26.243 30.173 32.264 34.642 36.918
99-25+ 27.330 23.908 25.724 29.371 31.312 33.519 35.632
99-26 26.686 23.529 25.204 28.569 30.360 32.396 34.346
99-26+ 26.042 23.150 24.684 27.768 29.409 31.274 33.061
99-27 25.399 22.771 24.165 26.966 28.458 30.152 31.776
99-27+ 24.756 22.391 23.646 26.165 27.507 29.031 30.491
99-28 24.112 22.013 23.126 25.365 26.556 27.910 29.207
99-28+ 23.469 21.634 22.608 24.564 25.606 26.789 27.923
99-29 22.827 21.255 22.089 23.764 24.656 25.669 26.640
99-29+ 22.184 20.876 21.570 22.964 23.706 24.549 25.357
99-30 21.542 20.498 21.051 22.164 22.756 23.429 24.074
99-30+ 20.899 20.119 20.533 21.365 21.807 22.310 22.792
99-31 20.257 19.741 20.015 20.565 20.858 21.191 21.510
99-31+ 19.615 19.363 19.497 19.766 19.910 20.073 20.229
100-00 18.974 18.985 18.979 18.967 18.961 18.954 18.948
100-00+ 18.332 18.607 18.461 18.169 18.013 17.836 17.667
100-01 17.691 18.229 17.943 17.370 17.066 16.719 16.387
100-01+ 17.050 17.851 17.426 16.572 16.118 15.602 15.107
100-02 16.409 17.473 16.909 15.775 15.171 14.485 13.828
100-02+ 15.768 17.095 16.391 14.977 14.224 13.369 12.549
100-03 15.128 16.718 15.874 14.180 13.278 12.253 11.271
100-03+ 14.487 16.341 15.357 13.383 12.331 11.137 9.992
100-04 13.847 15.963 14.841 12.586 11.385 10.021 8.715
100-04+ 13.207 15.586 14.324 11.789 10.440 8.906 7.438
100-05 12.568 15.209 13.808 10.993 9.494 7.792 6.161
100-05+ 11.928 14.832 13.291 10.196 8.549 6.677 4.884
100-06 11.288 14.455 12.775 9.401 7.605 5.564 3.608
100-06+ 10.649 14.078 12.259 8.605 6.660 4.450 2.332
100-07 10.010 13.702 11.743 7.809 5.716 3.337 1.057
100-07+ 9.371 13.325 11.227 7.014 4.772 2.224 -0.218
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 2.761 5.122 3.524 2.164 1.793 1.499 1.294
Last Payment 8.042 11.375 9.042 7.292 6.958 6.792 6.625
Mod.Dur. @ 100-00 2.332 3.960 2.890 1.873 1.577 1.337 1.167
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
- --------------------------------------------------------------------------------
- Money Store - MON8A
- Cut Off Date of Tape is 2/28/98
- Fixed Rate Collateral
- $367,994,024.88
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 6,145
Lien Status: First and Second Lien Loans
Aggregate Unpaid Principal Balance: $367,994,024.88
Aggregate Original Principal Balance: $369,471,154.00
Weighted Average Gross Coupon: 10.538%
Gross Coupon Range: 5.000% - 18.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $59,885.11
Average Original Principal Balance: $60,125.49
Maximum Unpaid Principal Balance: $657,686.44
Minimum Unpaid Principal Balance: $3,960.00
Maximum Original Principal Balance: $658,000.00
Minimum Original Principal Balance: $5,000.00
Weighted Avg. Rem Term (Sched. Last Pay to Mat/Bln Date): 265.516
Remaining Term Range: 35.000 - 480.000
Weighted Average Age (Original Term - Rem Term): 3.359
Age Range: 0.000 - 128.000
Weighted Average Original Term: 268.875
Original Term Range: 36.000 - 480.000
Weighted Average Combined LTV: 77.620
Combined LTV Range: 1.890% - 100.000%
Weighted Average FICO Score: 628.082 * 232 Scores are not
FICO Score Range: 379 - 827 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.26% Zip Code: 08540 State: NJ
Latest Maturing Loan: 03/15/38
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
4.50% * Gross Coupon *= 5.00% 1 9,411.59 0.00
5.50% * Gross Coupon *= 6.00% 1 16,741.94 0.00
6.50% * Gross Coupon *= 7.00% 2 155,234.81 0.04
7.00% * Gross Coupon *= 7.50% 6 691,587.96 0.19
7.50% * Gross Coupon *= 7.75% 17 1,694,043.25 0.46
7.75% * Gross Coupon *= 8.00% 14 1,322,067.96 0.36
8.00% * Gross Coupon *= 8.25% 16 2,211,332.87 0.60
8.25% * Gross Coupon *= 8.50% 34 3,667,179.50 1.00
8.50% * Gross Coupon *= 8.75% 86 9,525,367.45 2.59
8.75% * Gross Coupon *= 9.00% 397 33,525,444.22 9.11
9.00% * Gross Coupon *= 9.25% 138 13,745,798.07 3.74
9.25% * Gross Coupon *= 9.50% 289 23,711,069.90 6.44
9.50% * Gross Coupon *= 9.75% 352 29,730,286.97 8.08
9.75% * Gross Coupon *= 10.00% 644 52,821,086.30 14.35
10.00% * Gross Coupon *= 10.25% 145 10,473,826.70 2.85
10.25% * Gross Coupon *= 10.50% 350 23,210,502.81 6.31
10.50% * Gross Coupon *= 10.75% 373 27,137,250.72 7.37
10.75% * Gross Coupon *= 11.00% 505 31,518,089.33 8.56
11.00% * Gross Coupon *= 11.25% 229 11,711,648.62 3.18
11.25% * Gross Coupon *= 11.50% 286 13,577,233.42 3.69
11.50% * Gross Coupon *= 11.75% 294 11,959,901.03 3.25
11.75% * Gross Coupon *= 12.00% 437 15,564,858.97 4.23
12.00% * Gross Coupon *= 12.25% 221 7,444,427.65 2.02
12.25% * Gross Coupon *= 12.50% 269 9,127,310.81 2.48
12.50% * Gross Coupon *= 12.75% 158 6,689,124.02 1.82
12.75% * Gross Coupon *= 13.00% 257 7,793,959.61 2.12
13.00% * Gross Coupon *= 13.25% 122 3,625,632.23 0.99
13.25% * Gross Coupon *= 13.50% 154 5,058,515.80 1.37
13.50% * Gross Coupon *= 13.75% 105 3,213,944.67 0.87
13.75% * Gross Coupon *= 14.00% 108 3,066,200.53 0.83
14.00% * Gross Coupon *= 14.25% 35 1,089,217.70 0.30
14.25% * Gross Coupon *= 14.50% 39 1,151,443.73 0.31
14.50% * Gross Coupon *= 14.75% 19 554,119.64 0.15
14.75% * Gross Coupon *= 15.00% 21 602,891.15 0.16
15.00% * Gross Coupon *= 15.25% 4 138,831.86 0.04
15.25% * Gross Coupon *= 15.50% 6 167,700.54 0.05
15.50% * Gross Coupon *= 15.75% 2 50,135.85 0.01
15.75% * Gross Coupon *= 16.00% 2 57,141.10 0.02
16.50% * Gross Coupon *= 16.75% 2 85,591.18 0.02
16.75% * Gross Coupon *= 17.00% 1 23,946.30 0.01
17.00% * Gross Coupon *= 17.25% 1 11,726.12 0.00
17.25% * Gross Coupon *= 17.50% 1 14,950.00 0.00
18.50% * Gross Coupon *= 19.00% 2 47,250.00 0.01
- -------------------------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
===============================================================================
* = Less than
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
24 * Orig. Term *= 36 3 20,200.00 0.01%
36 * Orig. Term *= 48 1 23,603.45 0.01%
48 * Orig. Term *= 60 146 2,215,376.88 0.60%
60 * Orig. Term *= 72 12 211,623.98 0.06%
72 * Orig. Term *= 84 56 1,424,528.27 0.39%
84 * Orig. Term *= 96 13 279,952.60 0.08%
96 * Orig. Term *= 108 5 178,554.09 0.05%
108 * Orig. Term *= 120 642 15,352,879.20 4.17%
120 * Orig. Term *= 132 2 56,800.00 0.02%
132 * Orig. Term *= 144 23 662,857.23 0.18%
144 * Orig. Term *= 156 1 16,240.00 0.00%
156 * Orig. Term *= 168 3 138,335.52 0.04%
168 * Orig. Term *= 180 2,323 131,808,796.73 35.82%
192 * Orig. Term *= 204 4 147,150.00 0.04%
204 * Orig. Term *= 216 7 469,992.77 0.13%
216 * Orig. Term *= 228 1 86,500.00 0.02%
228 * Orig. Term *= 240 619 34,026,978.75 9.25%
240 * Orig. Term *= 252 1 24,646.03 0.01%
252 * Orig. Term *= 264 1 29,000.00 0.01%
288 * Orig. Term *= 300 296 13,534,223.32 3.68%
348 * Orig. Term *= 360 1,959 164,635,739.32 44.74%
468 * Orig. Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
24 * Rem Term *= 36 3 20,200.00 0.01%
36 * Rem Term *= 48 2 31,442.49 0.01%
48 * Rem Term *= 60 147 2,262,694.91 0.61%
60 * Rem Term *= 72 14 301,597.63 0.08%
72 * Rem Term *= 84 57 1,359,356.89 0.37%
84 * Rem Term *= 96 18 434,297.61 0.12%
96 * Rem Term *= 108 7 254,048.18 0.07%
108 * Rem Term *= 120 636 15,177,532.87 4.12%
120 * Rem Term *= 132 9 239,669.49 0.07%
132 * Rem Term *= 144 25 748,340.89 0.20%
144 * Rem Term *= 156 53 4,604,562.26 1.25%
156 * Rem Term *= 168 55 9,200,446.00 2.50%
168 * Rem Term *= 180 2,204 117,755,558.73 32.00%
192 * Rem Term *= 204 4 147,150.00 0.04%
204 * Rem Term *= 216 12 1,047,202.40 0.28%
216 * Rem Term *= 228 9 1,453,663.71 0.40%
228 * Rem Term *= 240 607 32,107,251.44 8.72%
252 * Rem Term *= 264 1 29,000.00 0.01%
276 * Rem Term *= 288 1 29,755.99 0.01%
288 * Rem Term *= 300 295 13,504,467.33 3.67%
324 * Rem Term *= 336 23 2,226,196.31 0.60%
336 * Rem Term *= 348 12 2,303,278.33 0.63%
348 * Rem Term *= 360 1,924 160,106,264.68 43.51%
468 * Rem Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
AGE OF LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
<S> <C> <C> <C>
Age = 0 2,278 113,829,780.23 30.93%
0 * Age *= 12 3,703 236,097,440.99 64.16%
12 * Age *= 24 81 11,761,107.48 3.20%
24 * Age *= 36 67 5,919,417.47 1.61%
36 * Age *= 48 3 51,708.34 0.01%
48 * Age *= 60 6 173,392.10 0.05%
60 * Age *= 72 1 26,726.16 0.01%
72 * Age *= 84 5 106,021.20 0.03%
120 * Age *= 132 1 28,430.91 0.01%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
<S> <C> <C> <C>
1987 1 28,430.91 0.01
1991 5 84,411.66 0.02
1992 2 57,747.29 0.02
1993 6 173,392.10 0.05
1994 3 173,697.73 0.05
1995 63 5,028,434.54 1.37
1996 57 7,071,898.79 1.92
1997 2084 162,426,330.52 44.14
1998 3924 192,949,681.34 52.43
- --------------------------------------------------------------------------
Total................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Combined Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
0.00 * CLTV *= 5.00 2 10,921.25 0.00
5.00 * CLTV *= 10.00 8 77,523.73 0.02
10.00 * CLTV *= 15.00 16 223,208.76 0.06
15.00 * CLTV *= 20.00 33 616,085.48 0.17
20.00 * CLTV *= 25.00 51 1,162,249.36 0.32
25.00 * CLTV *= 30.00 61 2,074,953.84 0.56
30.00 * CLTV *= 35.00 89 2,667,485.23 0.72
35.00 * CLTV *= 40.00 93 3,194,192.67 0.87
40.00 * CLTV *= 45.00 105 4,090,307.58 1.11
45.00 * CLTV *= 50.00 115 5,136,383.29 1.40
50.00 * CLTV *= 55.00 152 6,210,624.53 1.69
55.00 * CLTV *= 60.00 207 11,530,215.11 3.13
60.00 * CLTV *= 65.00 318 17,179,345.23 4.67
65.00 * CLTV *= 70.00 529 28,620,921.78 7.78
70.00 * CLTV *= 75.00 547 33,597,637.13 9.13
75.00 * CLTV *= 80.00 1396 86,963,799.46 23.63
80.00 * CLTV *= 85.00 987 68,480,092.54 18.61
85.00 * CLTV *= 90.00 1092 79,119,291.70 21.50
90.00 * CLTV *= 95.00 175 8,002,778.92 2.17
95.00 * CLTV *=100.00 169 9,036,007.29 2.46
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 4 19,859.66 0.01
5,000 * Balance *= 10,000 166 1,380,107.56 0.38
10,000 * Balance *= 15,000 364 4,619,132.22 1.26
15,000 * Balance *= 20,000 414 7,352,185.66 2.00
20,000 * Balance *= 25,000 469 10,654,660.28 2.90
25,000 * Balance *= 30,000 486 13,533,718.51 3.68
30,000 * Balance *= 35,000 420 13,757,611.02 3.74
35,000 * Balance *= 40,000 422 15,907,998.18 4.32
40,000 * Balance *= 45,000 339 14,521,676.04 3.95
45,000 * Balance *= 50,000 368 17,538,041.06 4.77
50,000 * Balance *= 55,000 303 15,909,077.34 4.32
55,000 * Balance *= 60,000 302 17,457,862.88 4.74
60,000 * Balance *= 65,000 271 16,985,747.24 4.62
65,000 * Balance *= 70,000 219 14,799,598.26 4.02
70,000 * Balance *= 75,000 178 12,900,909.76 3.51
75,000 * Balance *= 80,000 150 11,622,699.66 3.16
80,000 * Balance *= 85,000 128 10,575,729.03 2.87
85,000 * Balance *= 90,000 107 9,360,958.10 2.54
90,000 * Balance *= 95,000 97 9,003,906.97 2.45
95,000 * Balance *= 100,000 87 8,498,755.43 2.31
100,000 * Balance *= 105,000 64 6,554,175.97 1.78
105,000 * Balance *= 110,000 71 7,638,185.53 2.08
110,000 * Balance *= 115,000 78 8,782,936.42 2.39
115,000 * Balance *= 120,000 64 7,539,952.54 2.05
120,000 * Balance *= 125,000 51 6,258,227.40 1.70
125,000 * Balance *= 130,000 46 5,863,404.41 1.59
130,000 * Balance *= 135,000 42 5,540,384.15 1.51
135,000 * Balance *= 140,000 37 5,087,810.93 1.38
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 19 6,692,168.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 6 27,905.95 0.01
5,000 * Balance *= 10,000 168 1,397,358.19 0.38
10,000 * Balance *= 15,000 365 4,635,843.79 1.26
15,000 * Balance *= 20,000 415 7,392,157.28 2.01
20,000 * Balance *= 25,000 471 10,723,766.97 2.91
25,000 * Balance *= 30,000 488 13,618,144.00 3.70
30,000 * Balance *= 35,000 416 13,656,557.00 3.71
35,000 * Balance *= 40,000 422 15,960,188.62 4.34
40,000 * Balance *= 45,000 339 14,543,365.27 3.95
45,000 * Balance *= 50,000 366 17,478,195.58 4.75
50,000 * Balance *= 55,000 305 16,032,921.88 4.36
55,000 * Balance *= 60,000 302 17,480,643.97 4.75
60,000 * Balance *= 65,000 268 16,822,636.39 4.57
65,000 * Balance *= 70,000 222 15,009,039.25 4.08
70,000 * Balance *= 75,000 179 12,999,438.20 3.53
75,000 * Balance *= 80,000 147 11,420,131.09 3.10
80,000 * Balance *= 85,000 127 10,501,580.18 2.85
85,000 * Balance *= 90,000 108 9,466,866.65 2.57
90,000 * Balance *= 95,000 95 8,824,432.83 2.40
95,000 * Balance *= 100,000 88 8,598,616.56 2.34
100,000 * Balance *= 105,000 63 6,473,134.36 1.76
105,000 * Balance *= 110,000 73 7,862,885.67 2.14
110,000 * Balance *= 115,000 77 8,681,401.99 2.36
115,000 * Balance *= 120,000 64 7,544,800.57 2.05
120,000 * Balance *= 125,000 49 6,025,660.48 1.64
125,000 * Balance *= 130,000 50 6,378,690.60 1.73
130,000 * Balance *= 135,000 40 5,286,069.79 1.44
135,000 * Balance *= 140,000 35 4,826,839.10 1.31
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 18 6,688,208.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alaska 1 23,946.30 0.01
Alabama 3 540,105.47 0.15
Arkansas 21 1,241,633.31 0.34
Arizona 90 4,669,429.28 1.27
California 288 24,950,641.77 6.78
Colorado 94 6,684,549.05 1.82
Connecticut 51 5,190,321.80 1.41
Dist of Col 13 940,163.83 0.26
Delaware 23 1,598,190.44 0.43
Florida 377 22,788,435.47 6.19
Georgia 215 12,662,922.85 3.44
Hawaii 2 375,934.04 0.10
Iowa 44 1,622,881.50 0.44
Idaho 38 1,925,506.28 0.52
Illinois 276 15,809,945.87 4.30
Indiana 251 12,667,853.06 3.44
Kansas 90 4,223,826.45 1.15
Kentucky 127 7,252,144.91 1.97
Louisiana 82 3,265,941.21 0.89
Massachsetts 80 6,231,449.61 1.69
Maryland 90 6,673,483.09 1.81
Maine 43 2,039,478.17 0.55
Michigan 299 15,142,149.62 4.11
Minnesota 79 4,442,855.53 1.21
Missouri 189 7,706,840.30 2.09
Mississippi 160 7,803,703.15 2.12
Montana 16 995,273.54 0.27
North Carolina 309 20,409,179.45 5.55
North Dakota 5 141,062.74 0.04
Nebraska 41 1,837,082.06 0.50
New Hampshire 20 1,096,876.13 0.30
New Jersey 248 23,131,434.98 6.29
New Mexico 62 3,232,876.49 0.88
Nevada 35 3,067,049.55 0.83
New York 387 31,748,992.53 8.63
Ohio 327 19,279,525.60 5.24
Oklahoma 51 2,344,105.17 0.64
Oregon 50 3,281,786.97 0.89
Pennsylvania 346 17,263,714.54 4.69
Rhode Island 9 624,570.99 0.17
South Carolina 237 12,839,006.44 3.49
South Dakota 6 147,240.91 0.04
Tennessee 162 9,344,083.36 2.54
Texas 447 18,108,779.86 4.92
Utah 31 1,957,947.04 0.53
Virginia 73 4,806,484.66 1.31
Vermont 17 841,623.71 0.23
Washington 135 8,340,756.71 2.27
Wisconsin 60 2,678,868.48 0.73
West Virgina 36 1,619,575.47 0.44
Wyoming 9 381,795.14 0.10
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Single Family Detached 5277 312,195,463.82 84.84
2-4 Family 282 21,293,358.11 5.79
Deminimus PUD 1 22,800.00 0.01
Single Wide MH 163 6,644,133.07 1.81
Double Wide MH 145 6,971,198.60 1.89
Triple Wide MH 1 76,443.38 0.02
Mixed Use 38 3,041,625.06 0.83
Townhouses 35 1,530,947.48 0.42
Condominiums 86 4,020,025.77 1.09
PUD Detached 82 6,718,280.83 1.83
PUD Attached 13 723,897.73 0.20
Multi-Family 22 4,755,851.03 1.29
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Owner Occ. 5776 346,630,942.23 94.19
Investor 328 19,447,945.15 5.28
Vacation/Second Home 41 1,915,137.50 0.52
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Full Documentation 6145 367,994,024.88 100.00
- ----------------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==================================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Purchase 297 29,193,242.87 7.93
Refinance/No ETO 3437 261,515,239.47 71.07
Refinance/ETO 980 29,789,718.74 8.10
Home Improvement 4 85,357.73 0.02
Debt Consolidation 1420 45,701,990.29 12.42
Other 7 1,708,475.78 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN TYPE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
LOAN TYPE Loans Balance Balance
<S> <C> <C> <C>
FIXED 6137 366,247,814.24 99.53
4/26 6M LIBOR 1 56,956.89 0.02
6 MONTH LIBOR 7 1,689,253.75 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
1 4494 317,608,289.84 86.31
2 1651 50,385,735.04 13.69
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
COLLATERAL GRADE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
<S> <C> <C> <C>
A 1956 144,348,916.93 39.23
A- 1903 115,856,014.86 31.48
B+ 732 40,405,472.68 10.98
B 967 44,699,006.56 12.15
B- 388 14,453,831.32 3.93
C+ 17 652,545.80 0.18
C 177 7,448,281.75 2.02
C- 5 129,954.98 0.04
- -----------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
=================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
<S> <C> <C> <C>
Fully Amortizing 5605 309,197,620.87 84.02
Partially Amortizing 540 58,796,404.01 15.98
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
FICO SCORE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
FICO *= 550 864 43,006,597.11 11.69
551 * FICO *= 600 1351 76,990,346.40 20.92
601 * FICO *= 650 1674 104,958,835.82 28.52
651 * FICO *= 700 1334 86,219,342.54 23.43
700 * FICO 690 44,535,306.02 12.10
Unavailable FICO 232 12,283,596.99 3.34
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
- --------------------------------------------------------------------------------
- Money Store - MON8A
- Cut Off Date of Tape is 2/28/98
- Adjust. Rate Collateral
- $364,380,515.83
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 4,149
Index: 1M LIBOR, 6M LIBOR, 1Y LIBOR, 1Y CMT
Lien Status: First Lien Loans
Aggregate Unpaid Principal Balance: $364,380,515.83
Aggregate Original Principal Balance: $364,781,550.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.090%
Gross Coupon Range: 7.200% - 14.990%
Weighted Average Margin (Gross): 6.284%
Gross Margin Range: 0.000% - 10.740%
Weighted Average Life Cap (Gross): 16.356%
Gross Life Cap Range: 11.250% - 28.130%
Weighted Average Life Floor (Gross): 9.849%
Gross Life Floor Range: 3.850% - 14.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $87,823.70
Average Original Principal Balance: $87,920.35
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: $12,500.00
Weighted Avg. Rem. Term (Sched Last Pay to Mat Date): 356.462
Rem Term Range: 17.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 2.293
Age Range: 0.000 - 37.000
Weighted Average Original Term: 358.755
Original Term Range: 24.000 - 361.000
Weighted Average Original LTV: 78.437
Original LTV Range: 10.390% - 100.000%
Weighted Average Periodic Interest Cap: 1.083%
Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Initial Periodic Interest Cap: 2.630%
Initial Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Months to Interest Roll: 27.050
Months to Interest Roll Range: 1 - 50
Weighted Average Interest Roll Frequency: 6.075
Interest Frequency Range: 1 - 12
Weighted Average FICO Score: 606.199 * 152 Scores are not
Score Range: 407 - 822 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.31% Zip Code: 60103 State:IL
Latest Maturing Loan: 05/01/28
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
7.00% * Gross Coupon *= 7.50% 27 3,116,919.54 0.86
7.50% * Gross Coupon *= 7.75% 5 1,124,016.02 0.31
7.75% * Gross Coupon *= 8.00% 35 4,355,783.93 1.20
8.00% * Gross Coupon *= 8.25% 28 3,455,674.94 0.95
8.25% * Gross Coupon *= 8.50% 73 8,804,975.47 2.42
8.50% * Gross Coupon *= 8.75% 249 26,290,392.29 7.22
8.75% * Gross Coupon *= 9.00% 214 21,296,743.64 5.84
9.00% * Gross Coupon *= 9.25% 251 23,241,308.44 6.38
9.25% * Gross Coupon *= 9.50% 252 26,806,842.70 7.36
9.50% * Gross Coupon *= 9.75% 277 28,662,948.36 7.87
9.75% * Gross Coupon *= 10.00% 426 41,493,484.92 11.39
10.00% * Gross Coupon *= 10.25% 317 26,570,683.09 7.29
10.25% * Gross Coupon *= 10.50% 408 34,175,569.40 9.38
10.50% * Gross Coupon *= 10.75% 338 25,695,695.37 7.05
10.75% * Gross Coupon *= 11.00% 313 25,969,304.46 7.13
11.00% * Gross Coupon *= 11.25% 253 17,899,946.84 4.91
11.25% * Gross Coupon *= 11.50% 226 15,843,918.74 4.35
11.50% * Gross Coupon *= 11.75% 142 9,100,062.84 2.50
11.75% * Gross Coupon *= 12.00% 123 8,589,480.18 2.36
12.00% * Gross Coupon *= 12.25% 50 3,141,496.46 0.86
12.25% * Gross Coupon *= 12.50% 42 2,497,832.67 0.69
12.50% * Gross Coupon *= 12.75% 34 2,063,003.87 0.57
12.75% * Gross Coupon *= 13.00% 32 1,839,793.58 0.50
13.00% * Gross Coupon *= 13.25% 6 376,565.80 0.10
13.25% * Gross Coupon *= 13.50% 9 556,668.04 0.15
13.50% * Gross Coupon *= 13.75% 6 507,707.96 0.14
13.75% * Gross Coupon *= 14.00% 4 237,845.60 0.07
14.00% * Gross Coupon *= 14.25% 2 196,788.37 0.05
14.50% * Gross Coupon *= 14.75% 4 232,892.28 0.06
14.75% * Gross Coupon *= 15.00% 3 236,170.03 0.06
- ------------------------------------------------------------------------------------------------
Total.......... 4149 $364,380,515.83 100.00%
================================================================================================
* = Less than.
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
12 * Orig. Term *= 24 1 38,404.12 0.01%
72 * Orig. Term *= 84 13 1,103,093.11 0.30%
108 * Orig. Term *= 120 1 93,177.12 0.03%
168 * Orig. Term *= 180 7 631,878.58 0.17%
348 * Orig. Term *= 360 4,126 362,484,562.90 99.48%
360 * Orig. Term *= 372 1 29,400.00 0.01%
- -------------------------------------------------------------------
Total............ 4,149 364,380,515.83 100.00%
===================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
12 * Rem Term *= 24 1 38,404.12 0.01%
60 * Rem Term *= 72 8 525,128.90 0.14%
72 * Rem Term *= 84 5 577,964.21 0.16%
108 * Rem Term *= 120 1 93,177.12 0.03%
156 * Rem Term *= 168 1 87,898.31 0.02%
168 * Rem Term *= 180 6 543,980.27 0.15%
312 * Rem Term *= 324 2 157,918.50 0.04%
324 * Rem Term *= 336 7 568,587.46 0.16%
336 * Rem Term *= 348 16 2,010,729.43 0.55%
348 * Rem Term *= 360 4,102 359,776,727.51 98.74%
- -------------------------------------------------------------------
Total............ 4,149 364,380,515.83 100.00%
===================================================================
* = Less than.
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
<S> <C> <C> <C>
Age = 0 1,186 91,321,498.74 25.06%
0 * Age *= 12 2,938 270,386,006.39 74.20%
12 * Age *= 24 16 1,946,504.74 0.53%
24 * Age *= 36 7 568,587.46 0.16%
36 * Age *= 48 2 157,918.50 0.04%
- -------------------------------------------------------------------
Total............ 4,149 364,380,515.83 100.00%
===================================================================
* = Less than.
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
<S> <C> <C> <C>
1994 2 157,918.50 0.04
1995 7 568,587.46 0.16
1996 11 1,404,162.06 0.39
1997 2117 202,600,305.13 55.60
1998 2012 159,649,542.68 43.81
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
LOAN SUMMARY STRATIFIED BY
SCHEDULED LAST PAYMENT DATE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
03/01/98 3978 351,427,540.83 96.45
04/01/98 170 12,870,475.00 3.53
05/01/98 1 82,500.00 0.02
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
ORIGINAL LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
10.00 * LTV *= 15.00 6 179,000.00 0.05
15.00 * LTV *= 20.00 7 420,763.61 0.12
20.00 * LTV *= 25.00 13 458,457.02 0.13
25.00 * LTV *= 30.00 20 1,315,822.66 0.36
30.00 * LTV *= 35.00 15 844,852.77 0.23
35.00 * LTV *= 40.00 26 1,545,979.19 0.42
40.00 * LTV *= 45.00 53 2,787,928.94 0.77
45.00 * LTV *= 50.00 71 4,418,980.97 1.21
50.00 * LTV *= 55.00 83 4,957,249.37 1.36
55.00 * LTV *= 60.00 123 8,282,021.65 2.27
60.00 * LTV *= 65.00 208 15,407,172.91 4.23
65.00 * LTV *= 70.00 365 27,140,176.71 7.45
70.00 * LTV *= 75.00 501 43,102,364.76 11.83
75.00 * LTV *= 80.00 1052 94,977,888.31 26.07
80.00 * LTV *= 85.00 787 71,678,090.26 19.67
85.00 * LTV *= 90.00 762 81,270,397.98 22.30
90.00 * LTV *= 95.00 50 4,730,465.74 1.30
95.00 * LTV *=100.00 7 862,902.98 0.24
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
DISTRIBUTION OF
MARGINS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
<S> <C> <C> <C>
Margin = 0.000 1 53,965.31 0.01
3.500 * Margin *= 4.000 7 871,475.61 0.24
4.000 * Margin *= 4.500 21 2,167,214.57 0.59
4.500 * Margin *= 5.000 209 22,398,309.03 6.15
5.000 * Margin *= 5.500 521 47,982,360.37 13.17
5.500 * Margin *= 6.000 623 57,620,809.54 15.81
6.000 * Margin *= 6.500 1,436 117,635,405.58 32.28
6.500 * Margin *= 7.000 699 60,629,677.97 16.64
7.000 * Margin *= 7.500 263 23,886,942.31 6.56
7.500 * Margin *= 8.000 215 18,699,164.83 5.13
8.000 * Margin *= 8.500 79 6,255,322.07 1.72
8.500 * Margin *= 9.000 47 3,926,530.28 1.08
9.000 * Margin *= 9.500 19 1,571,694.66 0.43
9.500 * Margin *= 10.000 6 469,866.26 0.13
10.000 * Margin *= 10.500 1 71,486.68 0.02
10.500 * Margin *= 11.000 2 140,290.76 0.04
- --------------------------------------------------------------------------
Total................. 4,149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
LOAN SUMMARY STRATIFIED BY
LIFE CAP
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
<S> <C> <C> <C>
11.000 * LIFE CAP *= 11.500 2 157,918.50 0.04
11.500 * LIFE CAP *= 12.000 2 245,848.34 0.07
12.000 * LIFE CAP *= 12.500 1 51,945.31 0.01
13.000 * LIFE CAP *= 13.500 26 3,032,319.22 0.83
13.500 * LIFE CAP *= 14.000 37 5,004,985.20 1.37
14.000 * LIFE CAP *= 14.500 84 9,496,280.66 2.61
14.500 * LIFE CAP *= 15.000 401 40,769,854.54 11.19
15.000 * LIFE CAP *= 15.500 433 42,619,467.21 11.70
15.500 * LIFE CAP *= 16.000 577 57,557,303.90 15.80
16.000 * LIFE CAP *= 16.500 656 56,257,055.43 15.44
16.500 * LIFE CAP *= 17.000 650 54,608,259.79 14.99
17.000 * LIFE CAP *= 17.500 518 38,120,789.04 10.46
17.500 * LIFE CAP *= 18.000 379 28,308,251.74 7.77
18.000 * LIFE CAP *= 18.500 157 11,814,519.40 3.24
18.500 * LIFE CAP *= 19.000 111 7,630,229.88 2.09
19.000 * LIFE CAP *= 19.500 42 2,860,586.87 0.79
19.500 * LIFE CAP *= 20.000 29 1,823,076.09 0.50
20.000 * LIFE CAP *= 20.500 19 2,007,199.34 0.55
20.500 * LIFE CAP *= 21.000 15 1,092,425.73 0.30
21.000 * LIFE CAP *= 21.500 6 608,390.94 0.17
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 0.02
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
LOAN SUMMARY STRATIFIED BY
LIFE FLOOR
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
<S> <C> <C> <C>
3.500 * Life Floor *= 4.000 3 485,997.78 0.13
4.500 * Life Floor *= 5.000 17 1,668,640.67 0.46
5.000 * Life Floor *= 5.500 20 1,874,673.98 0.51
5.500 * Life Floor *= 6.000 36 3,094,317.93 0.85
6.000 * Life Floor *= 6.500 37 3,648,216.78 1.00
6.500 * Life Floor *= 7.000 46 5,015,223.92 1.38
7.000 * Life Floor *= 7.500 54 5,693,629.02 1.56
7.500 * Life Floor *= 8.000 53 6,316,786.45 1.73
8.000 * Life Floor *= 8.500 111 13,104,026.00 3.60
8.500 * Life Floor *= 9.000 473 49,156,893.18 13.49
9.000 * Life Floor *= 9.500 491 47,781,896.93 13.11
9.500 * Life Floor *= 10.000 656 65,137,391.74 17.88
10.000 * Life Floor *= 10.500 678 56,661,890.13 15.55
10.500 * Life Floor *= 11.000 606 47,344,312.42 12.99
11.000 * Life Floor *= 11.500 458 31,379,779.38 8.61
11.500 * Life Floor *= 12.000 234 15,242,761.60 4.18
12.000 * Life Floor *= 12.500 84 5,098,202.90 1.40
12.500 * Life Floor *= 13.000 61 3,532,830.28 0.97
13.000 * Life Floor *= 13.500 13 822,031.84 0.23
13.500 * Life Floor *= 14.000 9 655,162.22 0.18
14.000 * Life Floor *= 14.500 2 196,788.37 0.05
14.500 * Life Floor *= 15.000 7 469,062.31 0.13
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
NEXT INTEREST ROLLDATE DATE
<TABLE>
<CAPTION>
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate
Roll Mortgage Principal Principal
Date Loans Balance Balance
<S> <C> <C> <C>
04/01/98 55 $5,401,995.80 01.48
05/01/98 73 $7,627,268.81 02.09
06/01/98 85 $10,269,041.13 02.82
07/01/98 161 $15,589,111.01 04.28
08/01/98 78 $7,721,043.83 02.12
09/01/98 66 $6,894,764.65 01.89
10/01/98 2 $284,104.07 00.08
11/01/98 5 $756,918.46 00.21
12/01/98 16 $2,117,205.18 00.58
01/01/99 5 $1,065,610.34 00.29
02/01/99 8 $836,642.68 00.23
03/01/99 10 $780,999.26 00.21
04/01/99 5 $501,887.06 00.14
05/01/99 6 $498,635.81 00.14
06/01/99 26 $2,717,256.48 00.75
07/01/99 18 $1,636,396.04 00.45
08/01/99 42 $3,370,475.24 00.92
09/01/99 83 $8,410,942.57 02.31
10/01/99 145 $13,387,846.30 03.67
11/01/99 221 $21,540,086.24 05.91
12/01/99 408 $39,927,564.66 10.96
01/01/00 455 $44,076,363.71 12.10
02/01/00 313 $28,408,793.13 07.80
03/01/00 202 $17,152,433.00 04.71
04/01/00 29 $2,523,250.00 00.69
06/01/00 1 $70,326.04 00.02
07/01/00 1 $63,463.46 00.02
08/01/00 2 $214,413.96 00.06
09/01/00 2 $128,387.47 00.04
10/01/00 4 $329,303.42 00.09
11/01/00 2 $198,887.33 00.05
12/01/00 10 $704,774.48 00.19
01/01/01 11 $1,035,941.00 00.28
02/01/01 5 $935,084.27 00.26
11/01/01 4 $281,043.51 00.08
12/01/01 2 $173,887.66 00.05
01/01/02 199 $14,513,634.48 03.98
02/01/02 441 $31,327,517.55 08.60
03/01/02 806 $60,477,490.74 16.60
04/01/02 141 $10,347,225.00 02.84
05/01/02 1 $82,500.00 00.02
- --------------------------------------------------------------------------
Total........ 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
PERIODIC CAP
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Periodic Mortgage Principal Principal
Cap Loans Balance Balance
<S> <C> <C> <C>
0.500 4 161,330.87 0.04
1.000 3721 319,660,816.93 87.73
1.500 284 29,881,853.47 8.20
2.000 132 14,039,254.50 3.85
3.000 7 604,260.06 0.17
6.000 1 33,000.00 0.01
- --------------------------------------------------------------------------
Total................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
10,000 * Balance *= 15,000 3 41,703.43 0.01
15,000 * Balance *= 20,000 8 148,158.67 0.04
20,000 * Balance *= 25,000 45 1,054,191.68 0.29
25,000 * Balance *= 30,000 114 3,174,138.13 0.87
30,000 * Balance *= 35,000 146 4,814,247.35 1.32
35,000 * Balance *= 40,000 192 7,298,240.19 2.00
40,000 * Balance *= 45,000 208 8,887,603.32 2.44
45,000 * Balance *= 50,000 236 11,293,212.62 3.10
50,000 * Balance *= 55,000 248 13,076,052.17 3.59
55,000 * Balance *= 60,000 269 15,484,523.49 4.25
60,000 * Balance *= 65,000 240 15,060,431.04 4.13
65,000 * Balance *= 70,000 218 14,799,081.32 4.06
70,000 * Balance *= 75,000 204 14,834,108.89 4.07
75,000 * Balance *= 80,000 196 15,210,777.82 4.17
80,000 * Balance *= 85,000 177 14,629,653.28 4.01
85,000 * Balance *= 90,000 143 12,515,416.55 3.43
90,000 * Balance *= 95,000 147 13,598,042.80 3.73
95,000 * Balance *= 100,000 140 13,658,814.74 3.75
100,000 * Balance *= 105,000 121 12,423,855.47 3.41
105,000 * Balance *= 110,000 128 13,748,275.16 3.77
110,000 * Balance *= 115,000 93 10,452,230.26 2.87
115,000 * Balance *= 120,000 98 11,538,790.72 3.17
120,000 * Balance *= 125,000 71 8,713,940.73 2.39
125,000 * Balance *= 130,000 72 9,172,374.68 2.52
130,000 * Balance *= 135,000 52 6,905,100.65 1.90
135,000 * Balance *= 140,000 52 7,150,983.32 1.96
140,000 * Balance *= 145,000 56 7,990,971.96 2.19
145,000 * Balance *= 150,000 38 5,621,095.47 1.54
150,000 * Balance *= 200,000 246 42,618,499.03 11.70
200,000 * Balance *= 250,000 116 25,929,043.27 7.12
250,000 * Balance *= 300,000 46 12,418,425.54 3.41
300,000 * Balance *= 350,000 10 3,192,833.28 0.88
350,000 * Balance *= 400,000 5 1,950,636.92 0.54
400,000 * Balance *= 450,000 7 3,000,329.96 0.82
450,000 * Balance *= 500,000 3 1,450,498.12 0.40
500,000 * Balance *= 550,000 1 524,233.80 0.14
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 1 1,184.58 0.00
10,000 * Balance *= 15,000 3 41,703.43 0.01
15,000 * Balance *= 20,000 8 148,158.67 0.04
20,000 * Balance *= 25,000 45 1,054,191.68 0.29
25,000 * Balance *= 30,000 114 3,174,138.13 0.87
30,000 * Balance *= 35,000 147 4,848,346.35 1.33
35,000 * Balance *= 40,000 193 7,338,223.10 2.01
40,000 * Balance *= 45,000 207 8,847,620.41 2.43
45,000 * Balance *= 50,000 235 11,259,113.62 3.09
50,000 * Balance *= 55,000 249 13,130,741.99 3.60
55,000 * Balance *= 60,000 270 15,607,062.74 4.28
60,000 * Balance *= 65,000 238 14,943,402.71 4.10
65,000 * Balance *= 70,000 217 14,737,696.00 4.04
70,000 * Balance *= 75,000 205 14,905,059.53 4.09
75,000 * Balance *= 80,000 196 15,219,717.03 4.18
80,000 * Balance *= 85,000 177 14,633,102.33 4.02
85,000 * Balance *= 90,000 143 12,519,975.96 3.44
90,000 * Balance *= 95,000 146 13,510,144.49 3.71
95,000 * Balance *= 100,000 142 13,858,611.04 3.80
100,000 * Balance *= 105,000 120 12,327,287.85 3.38
105,000 * Balance *= 110,000 127 13,645,046.48 3.74
110,000 * Balance *= 115,000 95 10,682,092.33 2.93
115,000 * Balance *= 120,000 96 11,308,928.65 3.10
120,000 * Balance *= 125,000 71 8,713,940.73 2.39
125,000 * Balance *= 130,000 73 9,302,364.91 2.55
130,000 * Balance *= 135,000 51 6,775,110.42 1.86
135,000 * Balance *= 140,000 55 7,570,631.91 2.08
140,000 * Balance *= 145,000 53 7,571,323.37 2.08
145,000 * Balance *= 150,000 39 5,770,465.28 1.58
150,000 * Balance *= 200,000 245 42,469,129.22 11.66
200,000 * Balance *= 250,000 116 25,929,043.27 7.12
250,000 * Balance *= 300,000 46 12,418,425.54 3.41
300,000 * Balance *= 350,000 10 3,192,833.28 0.88
350,000 * Balance *= 400,000 5 1,950,636.92 0.54
400,000 * Balance *= 450,000 7 3,000,329.96 0.82
450,000 * Balance *= 500,000 3 1,450,498.12 0.40
500,000 * Balance *= 550,000 1 524,233.80 0.14
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alaska 5 410,578.16 0.11
Alabama 1 52,736.61 0.01
Arkansas 4 330,450.77 0.09
Arizona 59 5,388,563.70 1.48
California 191 26,283,203.83 7.21
Colorado 76 8,219,162.20 2.26
Connecticut 40 3,853,821.16 1.06
Dist of Col 25 2,596,453.74 0.71
Delaware 10 899,891.73 0.25
Florida 191 16,045,801.89 4.40
Georgia 145 12,150,963.80 3.33
Hawaii 4 674,684.44 0.19
Iowa 24 1,420,140.72 0.39
Idaho 42 3,379,285.71 0.93
Illinois 389 39,692,806.89 10.89
Indiana 134 8,737,918.16 2.40
Kansas 26 1,397,332.22 0.38
Kentucky 66 4,116,968.98 1.13
Louisiana 30 1,995,898.27 0.55
Massachusetts 121 15,162,822.30 4.16
Maryland 77 7,994,808.94 2.19
Maine 19 1,433,222.61 0.39
Michigan 496 39,210,983.25 10.76
Minnesota 131 10,514,065.69 2.89
Missouri 125 7,918,369.26 2.17
Mississippi 18 1,114,897.58 0.31
Montana 6 308,451.15 0.08
North Carolina 145 11,061,564.68 3.04
North Dakota 1 31,640.00 0.01
Nebraska 3 173,422.54 0.05
New Hampshire 28 2,166,488.14 0.59
New Jersey 141 14,811,449.27 4.06
New Mexico 35 2,978,796.31 0.82
Nevada 37 3,631,675.87 1.00
New York 158 15,097,726.38 4.14
Ohio 265 18,906,659.25 5.19
Oklahoma 24 1,096,048.47 0.30
Oregon 53 5,132,806.80 1.41
Pennsylvania 160 12,321,237.10 3.38
Rhode Island 9 549,897.69 0.15
South Carolina 39 2,752,259.02 0.76
South Dakota 2 88,000.00 0.02
Tennessee 78 5,486,506.89 1.51
Texas 63 5,557,547.46 1.53
Utah 68 7,585,133.88 2.08
Virginia 49 5,107,753.60 1.40
Vermont 4 248,651.72 0.07
Washington 173 17,001,425.56 4.67
Wisconsin 143 10,343,955.84 2.84
West Virgina 11 572,920.22 0.16
Wyoming 5 372,665.38 0.10
- --------------------------------------------------------------------------
Total............... 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Single Family Detached 3555 310,418,301.71 85.19
2-4 Family 248 23,740,950.26 6.52
Single Wide MH 64 3,550,443.65 0.97
Double Wide MH 76 5,245,855.65 1.44
Triple Wide MH 1 119,000.00 0.03
Townhouses 28 2,436,305.00 0.67
Condominiums 95 7,983,143.26 2.19
PUD Detached 69 9,594,122.06 2.63
PUD Attached 13 1,292,394.24 0.35
- --------------------------------------------------------------------------
Total............... 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Owner Occ. 3930 349,176,908.78 95.83
Investor 197 13,409,481.36 3.68
Vacation/Second Home 22 1,794,125.69 0.49
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Full Documentation 4149 364,380,515.83 100.00
- --------------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
================================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Purchase 612 65,302,448.77 17.92
Refinance/No ETO 3069 273,647,373.18 75.10
Refinance/ETO 244 12,545,105.39 3.44
Debt Consolidation 224 12,885,588.49 3.54
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
LOAN SUMMARY STRATIFIED BY
LOAN TYPE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Type Loans Balance Balance
<S> <C> <C> <C>
1 YEAR CMT 30 4,350,461.25 1.19
1 YEAR LIBOR 3 339,690.93 0.09
6 MONTH LIBOR 511 52,585,502.52 14.43
2/28 6M LIBOR 1970 185,965,955.77 51.04
3/27 6M LIBOR 39 3,777,687.92 1.04
4/26 6M LIBOR 1594 117,203,298.94 32.17
3/3/1 1M LIBOR 2 157,918.50 0.04
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
1 4149 364,380,515.83 100.00
- --------------------------------------------------------------------------
Total............... 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
COLLATERAL GRADE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
<S> <C> <C> <C>
A 806 76,843,820.64 21.09
A- 1171 116,697,275.75 32.03
B+ 563 47,761,126.26 13.11
B 1001 80,650,936.27 22.13
B- 376 26,285,880.76 7.21
C+ 32 2,226,640.70 0.61
C 197 13,616,034.11 3.74
C- 3 298,801.34 0.08
- -----------------------------------------------------------------
Total.......... 4149 $364,380,515.83 100.00%
=================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
<S> <C> <C> <C>
Fully Amortizing 4133 363,036,518.91 99.63
Partially Amortizing 16 1,343,996.92 0.37
- --------------------------------------------------------------------------
Total.................. 4149 $364,380,515.83 100.00%
==========================================================================
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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>
$ 1,080,000,000 THE MONEY STORE TRUST 1998-A
POOL I AND II CERTIFICATES OFFERED HEREIN
FICO SCORE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
FICO *= 550 861 66,174,622.54 18.16
551 * FICO *= 600 1109 96,886,384.29 26.59
601 * FICO *= 650 1163 110,145,292.37 30.23
651 * FICO *= 700 616 58,599,114.89 16.08
700 * FICO 248 21,849,880.55 6.00
Unavailable FICO 152 10,725,221.19 2.94
- --------------------------------------------------------------------------
Total.................... 4149 $364,380,515.83 100.00%
==========================================================================
* = Less than.
</TABLE>
This information has been prepared in connection with the issuance of
securities representing interest in the above trust, and is based in part on
information provided by The Money Store Inc. with respect to the expected
characteristics of the pool of home equity loans in which these securities will
represent undivided beneficial interest. 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 material,
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.
BEAR STEARNS BEAR, STEARNS & CO. INC.
ATLANTA-BEIJING-BOSTON-BUENOS AIRES ASSET-BACKED SECURITIES GROUP
CHICAGO-DALLAS-DUBLIN-GENEVA 245 PARK AVENUE
HONG KONG-LONDON-LOS ANGELES NEW YORK, NEW YORK 10167
LUGANO-NEW YORK-PARIS-SAN FRANCISCO (212) 272-2000; (212) 272-7294 FAX
SAO PAOLO-SHANGAI-SINGAPORE
TOKYO-WASHINGTON, DC
COMPUTATIONAL MATERIALS
THE MONEY STORE HOME EQUITY TRUST, SERIES 1998-A
FAX TO: DATE: MARCH 23, 1998
COMPANY: # PAGES (incl. cover):
FAX NO: PHONE NO.:
FROM: PHONE N0.:
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES, AND OTHER
INFORMATION
The information contained in the attached materials (the "Information") may
include various forms of performance analysis, security characteristics and
securities pricing estimates for the securities addressed. Please read and
understand this entire statement before utilizing the Information. The
Information is provided solely by Bear Stearns, not as agent for any issuer,
and although it may be based on data supplied to it by an issuer, the issuer
has not participated in its preparation and makes no representations regarding
its accuracy or completeness. Should you receive Information that refers to the
"Statement Regarding Assumptions and Other Information," please refer to this
statement instead.
The Information is illustrative and is not intended to predict actual results
which may differ substantially from those reflected in the Information.
Performance analysis is based on certain assumptions with respect to significant
factors that may prove not to be as assumed. You should understand the
assumptions and evaluate whether they are appropriate for your purposes.
Performance results are based on mathematical models that use inputs to
calculate results. As with all models, results may vary significantly depending
upon the value of the inputs given. Inputs to these models include but not are
limited to: prepayment expectations (economic prepayment models, single expected
lifetime prepayments or a vector of periodic prepayments), interest rate
assumptions (parallel and nonparallel changes for different maturity
instruments), collateral assumptions (actual pool level data, aggregated pool
level data, reported factors or imputed factors), volatility assumptions
(historically observed or implied current) and reported information (paydown
factors, rate resets, and trustee statements). Models used in any analysis may
be proprietary making the results difficult for any third party to reproduce.
Contact your registered representative for detailed explanations of any modeling
techniques employed in the Information.
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, including call events and cash flow priorities at all prepayment
speeds and/or interest rates. You should consider whether the behavior of these
securities should be tested as assumptions different from those included in the
Information. The assumptions underlying the Information, including structure and
collateral, may be modified from time to time to reflect changed circumstances.
Any investment decision should be based only on the data in the prospectus and
the prospectus supplement or private placement memorandum (Offering Documents)
and the then current version of the Information. Offering Documents contain data
that is current as of their publication dates and after publication may no
longer be complete or current. Contact your registered representative for
Offering Documents, current Information or additional materials, including other
models for performance analysis, which are likely to produce different results,
and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent
our view, at the time determined, of the investment value of the securities
between the estimated bid and offer levels, the spread between which may be
significant due to market volatility or illiquidity, (b) do not constitute a bid
by any person for any security, (c) may not constitute prices at which the
securities could have been purchased or sold in any market, (d) have not been
confirmed by actual trades, may vary from the value Bear Stearns assigns any
such security while in its inventory, and may not take into account the size of
a position you have in the security, and (e) may have been derived from matrix
pricing that uses data relating to other securities whose prices are more
readily ascertainable to produce a hypothetical price based on the estimated
yield spread relationship between the securities.
GENERAL INFORMATION. The data underlying the Information has been obtained from
sources that we believe are reliable, but we do not guarantee the accuracy of
the underlying data or computations based thereon. Bear Stearns and/or
individuals thereof may have positions in these securities while the Information
is circulating or during such period may engage in transactions with the issuer
or its affiliates. We act as principal in transactions with you, and
accordingly, you must determine the appropriateness for you of such transactions
and address any legal, tax, or accounting considerations applicable to you. Bear
Stearns shall not be a fiduciary or advisor unless we have agreed in writing to
receive compensation specifically to act in such capacities. If you are subject
to ERISA, the Information is being furnished on the condition that it will not
form a primary basis for any investment decision. The Information is not a
solicitation of any transaction in securities which may be made only by
prospectus when required by law, in which event you may obtain such prospectus
from Bear Stearns.
<PAGE>
Preliminary Information for The Money Store Trust 1998-A
- The Money Store Inc.
Seller and Servicer
- The Money Store Trust 1998-A
Pool I Certificates
[$131,000,000] Class AF-1 Certificates [TBD %]
[$ 66,000,000] Class AF-2 Certificates [TBD %]
[$120,000,000] Class AF-3 Certificates [TBD %]
[$ 45,000,000] Class AF-4 Certificates [TBD %]
[$ 59,000,000] Class AF-5 Certificates [TBD %]
[$ 43,000,000] Class AF-6 Certificates [TBD %]
[$ 49,000,000] Class AF-7 Certificates [TBD %]
[$ 30,000,000] Class AF-8 Certificates [TBD %]
[$ 27,000,000] Class AF-9 Certificates [TBD %]
Pool II Certificates
[$510,000,000] Class AV Certificates 1M-LIBOR + [TBD %]
Pool III Certificates (not offered herein)
Total Pool I Certificates [$570,000,000]
Total Pool II Certificates [$510,000,000]
Total Pool III Certificates [$165,000,000] (not offered herein)
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
The Money Store Trust 1998-A
Title of The Money Store Asset Backed Certificates, Series 1998-A,
Securities: Classes AF-1 through AF-9, AV, AH-1 through AH-5, MH-1, MH-2
and BH (collectively, the "Certificates").
Description of This approximately [$1,245,000,000] transaction is supported
Transaction: by three distinct collateral types.
The Class AF-1 through AF-9 Certificates (the "Pool I
Certificates") are fixed-rate bonds backed primarily by
fixed-rate home equity mortgage loans. The Pool I
Certificates are credit enhanced by a surety wrap provided
by MBIA.
Certificate Class AV (the "Pool II Certificates") is a
floating-rate bond backed primarily by adjustable-rate home
equity mortgage loans. The Pool II Certificates are credit
enhanced by a surety wrap provided by MBIA.
Certificate Classes AH-1 through AH-5, MH-1, MH-2 and BH
(the "Pool III Certificates") are fixed-rate bonds backed
primarily by fixed-rate, secured home improvement loans. The
Pool III Certificates are credit enhanced through
subordination and overcollateralization. The Pool III
Certificates are not being offered herein.
- -------------------------------------------------------------------------------
CERTIFICATE CLASSES AF-1 THROUGH AF-9 (SUPPORTED BY FIXED-RATE MORTGAGE LOANS)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Settlement Date: [March 30, 1998]
Dated Date: [March 1, 1998]
Prepayment Assumption: [24% HEP]--Actual prepayments may vary.
Class AF-1 Class AF-2 Class AF-3 Class AF-4
----------------------------------------------------------------
<S> <C> <C> <C> <C>
Moody's Rating: Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA
----------------------------------------------------------------
Approximate Size: [$131,000,000] [$66,000,000] [$120,000,000] [$45,000,000]
Avg. Life to Maturity: (app.) [0.511] [1.202] [2.057] [3.051]
Avg. Life to Call: (app.) [0.511] [1.202] [2.057] [3.051]
Coupon: [TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Expected Maturity (to call): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Stated Maturity: [12/15/07] [03/15/12] [09/15/16] [03/15/20]
</TABLE>
<TABLE>
<CAPTION>
Class AF-5 Class AF-6 Class AF-7 Class AF-8 Class AF-9
----------------------------------------------------------------------------
Moody's Rating: Aaa Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA AAA
----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Approximate Size: [$59,000,000] [$43,000,000] [$49,000,000] [$30,000,000] [$27,000,000]
Avg. Life to Maturity: (app.) [4.041] [5.539] [10.252] [4.991] [7.925]
Avg. Life to Call: (app.) [4.041] [5.539] [7.868] [4.991] [7.598]
Coupon: [TBD TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [12/15/02] [11/15/04] [06/15/14] [12/15/04] [06/15/12]
Expected Maturity (to call): [12/15/02] [11/15/04] [04/15/06] [12/15/04] [04/15/06]
Stated Maturity: [12/15/23] [12/15/25] [04/15/39] [05/15/10] [04/15/39]
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
Collateral: Approx. [$570,000,000] of first and second lien, fixed-rate
mortgage loans secured primarily by one-to-four family
residences.
Payment Delay: 14 days.
Interest Accrual Interest will accrue from the 1st day of the preceeding
Period: month until the 30th day of the preceeding month.
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
The Money Store Trust 1998-A
- -------------------------------------------------------------------------------
CERTIFICATE CLASS AV (SUPPORTED BY ADJUSTABLE-RATE MORTGAGE LOANS)
- -------------------------------------------------------------------------------
Settlement Date: [March 30, 1998]
Dated Date: [March 15, 1998]
Prepayment Assumption: [26% CPR]--Actual prepayments may vary.
Class AV
--------------
Moody's Rating: Aaa
Standard & Poor's Rating: AAA
--------------
Approximate Size: [$510,000,000]
Avg. Life to Maturity: (app.) [2.965]
Avg. Life to Call: (app.) [2.761]
Coupon: [TBD]
Coupon Day Count: actual/360
Expected Maturity (to maturity): [02/15/15]
Expected Maturity (to call): [04/15/06]
Stated Maturity: [06/15/29]
- -------------------------------------------------------------------------------
Collateral: Approx. [$510,000,000] of first lien, adjustable-rate
home equity mortgage loans secured primarily by
one-to-four family residences.
Coupon Step up: If the 10% Clean-Up Call is not exercised, the coupon
on the Class AV Certificates will increase by [2x] the
Class AV margin.
Available Class AV is subject to an available funds cap equal to
Funds Cap: the weighted average gross coupon less (i) servicing
fee (50 bps), (ii) trust fees (trustee and surety fees)
and (iii) a 50 bp MBIA cushion beginning in month 8 and
thereafter. Each class is also subject to a hard cap of
[14%].
Shortfall If on any payment date the adjustable-rate certificate
Reimbursement: interest distribution amount divided by the outstanding
principal balance of the adjustable-rate loans is less
than the pass-through rate (which is subject to a
maximum rate equal to the [14%] hard cap), the amount
of such shortfall and the aggregate of such shortfalls
from previous payment dates together with accrued
interest at the pass-through rate will be carried
forward to the next payment date until paid. No
interest carryforward will be paid once the principal
balance of the related class has been reduced to zero.
Payment Delay: 0 days.
Interest Accrual: Interest will accrue from the 15th day of the
Period: preceeding month until the 14th day of the current
month. For the first accrual period, interest will
accrue from [March 15, 1998].
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
The Money Store Trust 1998-A
Servicer: The Money Store Inc.
Servicing Fee: 50 basis points per annum.
Trustee: [The Bank of New York for the Pool I and Pool II
Certificates.]
Co-Trustee: [First Union for the Pool III Certificates].
Cleanup Call: The Servicer may repurchase the collateral and, as a
(All Certificate result, cause the Certificates to be called at par plus
Classes) accrued interest after the remaining balances of the
loans are less than 10% of the sum of the i) the
aggregate principal balances of the initial Home Equity
Loans (Fixed and ARMs) and initial Home Improvement
Loans as of the cut-off date and ii) the original
Pre-Funded Amount.
Prefunding Account: Approximately [25%] of the three collateral pools will
be prefunded in aggregate. It is expected that all
prefunded collateral will be delivered by [March 31,
1998].
Form of Certificates: Book entry form, same day funds (through DTC, CEDEL or
Euroclear).
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on [April 15, 1998].
ERISA
Considerations: The Certificates with ratings of AAA/Aaa or AAA/AAA
will be ERISA eligible at closing.
Taxation: REMIC.
Legal Investment: [The Class AV Certificates will be SMMEA eligible. All
other certificate classes will not be SMMEA eligible.]
Credit Enhancement: Pool I (Fixed HELs) Pool II (ARMs)
------------------- --------------
1) Excess Interest 1) Excess Interest
2) Overcollateralization 2) Overcollateralization
3) Cross-Collateralization 3) Cross-Collateralization
4) MBIA Wrap 4) MBIA Wrap
Excess Interest: Excess interest cashflows from each group will be
available as credit enhancement for the related group.
Overcollateralization: The credit enhancement provisions of the Trust are
intended to provide for limited acceleration of the
senior Certificates relative to the amortization of the
related collateral, generally in the early months of
the transaction. The accelerated amortization is
achieved by applying certain excess interest collected
on the collateral to the payment of principal on the
senior Certificates, resulting in the buildup of
overcollateralization ("O/C"). This acceleration
feature is intended to create, with respect to each
Collateral Pool, an O/C amount resulting from, and
equal to, the excess of the aggregate principal
balances of the Collateral Pool over the principal
balance of the related Certificates. Once the required
O/C level is reached, the acceleration feature will
cease, unless necessary to maintain the required O/C
level.
***All O/C Levels are preliminary and subject to
change***
Pool I Certificates:
Initial: [0.00%] Target: [3.00%] of original
Stepdown: [6.00%] of current Floor: [0.50%] of original
Pool II Certificates:
Initial: [0.00%] Target: [5.25%] of original
Stepdown: [10.50%] of current Floor: [0.50%] of original
Cross- Monthly excess spread from each of the three collateral
Collateralization: pools that would otherwise be released to the Residual
Class holder will be available to cover current monthly
losses in the other collateral pools.
Certificate Insurer Municipal Bond Investors Assurance Corporation
for Pool I and II: ("MBIA"). MBIA's claims-paying ability is rated AAA/Aaa
by Standard and Poor's and Moody's.
Certificate Insurance Timely interest and eventual principal payments on the
for Pool I and II: Pool I and Pool II Certificates will be 100% guaranteed
by MBIA.
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
The Money Store Trust 1998-A
Cashflow Structure:
I. Payments are applied as follows:
Pool I: CERTIFICATE CLASSES AF-1 THROUGH AF-9 (supported by fixed-rate
home equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest without priority;
3) Principal payments are applied as follows:
A) to the Class AF-8 and then to the Class AF-9,
sequentially in that order, until the principal balance
of each such Class is retired, an amount equal to the
NAS Principal Distribution Amount (as described below)
B) to the Class AF-1, Class AF-2, Class AF-3, Class AF-4,
Class AF-5, Class AF-6, Class AF-7, Class AF-8 and
Class AF-9 Certificates, sequentially in that order,
until each such class is retired.
The NAS Principal Distribution Amount for any
remittance date will be the product of:
(i) the applicable NAS Principal Percentage (as
described below) and
(ii) the NAS Pro Rata Principal Distribution Amount (as
described below), where
NAS Principal
Remittance Dates Percentage
---------------- ----------
April 1998 - March 2001 0%
April 2001 - March 2003 45%
April 2003 - March 2004 80%
April 2004 - March 2005 100%
April 2005 and thereafter 300%
The NAS Pro Rata Principal Distribution Amount for any
payment date is the product of:
(x) a fraction, the numerator of which is the sum of the
Class AF-8 and Class AF-9 principal balances
immediately prior to such payment date and the
denominator of which is the principal balance of the
Pool I Certificates immediately prior to such payment
date; and
(y) the principal remittance amount for Pool I on such
payment date.
4) To the Residual Holder, to the extent available after
covering current monthly losses in Pool I, accrued monthly
interest based on a coupon of [2.50%] per annum on a
notional principal balance equal to the combined balance of
the Class AF-8 and Class AF-9 Certificates, commencing on
the first remittance date and concluding on the [May 1999]
Remittance Date;
5) Paydown of Certificates to the required level of
Overcollateralization;
6) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Pool II: CERTIFICATE CLASS AV (supported by adjustable-rate home
equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest to Class AV;
3) Interest shortfall carryforward plus interest thereon to
Class AV (if any);
4) Principal payments are applied as follows:
A) 100% to Class AV until Class AV is retired;
5) Paydown of Certificates to the required level of
Overcollateralization with the exception of an amount
described in payment priority #6, which is unavailable for
this purpose;
6) To the Residual Holder, to the extent available after
covering current monthly losses in Pool II, accrued monthly
interest based on a coupon of [0.25%] per annum on a
notional principal balance equal to the balance of the Class
AV Certificates, commencing on the first remittance date and
concluding on the [May 1999] Remittance Date;
7) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Prospectus: The Certificates are being offered pursuant to a Prospectus which
includes a Prospectus Supplement (together, the "Prospectus").
Complete information with respect to the Certificates and the
Collateral is contained in the Prospectus. The foregoing is
qualified in its entirety by the information appearing in the
Prospectus. To the extent that the foregoing is inconsistent with
the Prospectus, the Prospectus shall govern in all respects.
Offers to sell and solicitations of offers to buy the securities
are made only by the Prospectus. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $131,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $131,000,000.00 BOND AF-1 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.469 6.468 6.468 6.468 6.469 6.469 6.469 6.469
99-24+ 6.436 6.442 6.440 6.438 6.435 6.433 6.432 6.430
99-25 6.404 6.415 6.411 6.408 6.401 6.398 6.395 6.391
99-25+ 6.372 6.389 6.383 6.377 6.367 6.362 6.357 6.352
99-26 6.340 6.362 6.354 6.347 6.333 6.326 6.320 6.313
99-26+ 6.308 6.336 6.326 6.317 6.300 6.291 6.283 6.274
99-27 6.276 6.309 6.298 6.287 6.266 6.255 6.246 6.235
99-27+ 6.244 6.283 6.269 6.256 6.232 6.220 6.208 6.196
99-28 6.212 6.256 6.241 6.226 6.198 6.184 6.171 6.157
99-28+ 6.180 6.230 6.212 6.196 6.164 6.149 6.134 6.118
99-29 6.148 6.203 6.184 6.166 6.131 6.113 6.097 6.079
99-29+ 6.116 6.177 6.156 6.135 6.097 6.078 6.060 6.041
99-30 6.084 6.150 6.127 6.105 6.063 6.042 6.023 6.002
99-30+ 6.052 6.124 6.099 6.075 6.030 6.007 5.985 5.963
99-31 6.020 6.098 6.071 6.045 5.996 5.971 5.948 5.924
99-31+ 5.988 6.071 6.042 6.015 5.962 5.936 5.911 5.885
100-00 5.956 6.045 6.014 5.984 5.929 5.900 5.874 5.846
100-00+ 5.924 6.018 5.986 5.954 5.895 5.865 5.837 5.808
100-01 5.892 5.992 5.957 5.924 5.861 5.830 5.800 5.769
100-01+ 5.860 5.966 5.929 5.894 5.828 5.794 5.763 5.730
100-02 5.828 5.939 5.901 5.864 5.794 5.759 5.726 5.691
100-02+ 5.797 5.913 5.873 5.834 5.760 5.723 5.689 5.652
100-03 5.765 5.887 5.844 5.804 5.727 5.688 5.652 5.614
100-03+ 5.733 5.860 5.816 5.773 5.693 5.653 5.615 5.575
100-04 5.701 5.834 5.788 5.743 5.660 5.617 5.578 5.536
100-04+ 5.669 5.808 5.760 5.713 5.626 5.582 5.541 5.498
100-05 5.637 5.782 5.731 5.683 5.592 5.547 5.504 5.459
100-05+ 5.606 5.755 5.703 5.653 5.559 5.511 5.467 5.420
100-06 5.574 5.729 5.675 5.623 5.525 5.476 5.430 5.382
100-06+ 5.542 5.703 5.647 5.593 5.492 5.441 5.394 5.343
100-07 5.510 5.676 5.619 5.563 5.458 5.406 5.357 5.304
100-07+ 5.478 5.650 5.590 5.533 5.425 5.370 5.320 5.266
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 0.511 0.622 0.578 0.542 0.484 0.460 0.439 0.419
Last Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Mod.Dur. @ 100-00 0.487 0.589 0.549 0.515 0.462 0.439 0.419 0.401
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $66,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $66,000,000.00 BOND AF-2 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.268 6.267 6.267 6.268 6.269 6.270 6.270 6.271
99-24+ 6.255 6.256 6.255 6.255 6.254 6.254 6.253 6.253
99-25 6.241 6.245 6.243 6.242 6.239 6.238 6.237 6.235
99-25+ 6.227 6.234 6.232 6.229 6.224 6.222 6.220 6.218
99-26 6.213 6.223 6.220 6.216 6.210 6.206 6.203 6.200
99-26+ 6.199 6.212 6.208 6.203 6.195 6.191 6.186 6.182
99-27 6.185 6.201 6.196 6.191 6.180 6.175 6.170 6.165
99-27+ 6.171 6.190 6.184 6.178 6.165 6.159 6.153 6.147
99-28 6.157 6.179 6.172 6.165 6.150 6.143 6.136 6.130
99-28+ 6.144 6.169 6.160 6.152 6.135 6.128 6.119 6.112
99-29 6.130 6.158 6.148 6.139 6.121 6.112 6.103 6.094
99-29+ 6.116 6.147 6.136 6.126 6.106 6.096 6.086 6.077
99-30 6.102 6.136 6.125 6.113 6.091 6.080 6.069 6.059
99-30+ 6.088 6.125 6.113 6.100 6.076 6.064 6.053 6.042
99-31 6.074 6.114 6.101 6.088 6.061 6.049 6.036 6.024
99-31+ 6.061 6.103 6.089 6.075 6.046 6.033 6.019 6.006
100-00 6.047 6.092 6.077 6.062 6.032 6.017 6.003 5.989
100-00+ 6.033 6.082 6.065 6.049 6.017 6.002 5.986 5.971
100-01 6.019 6.071 6.053 6.036 6.002 5.986 5.969 5.954
100-01+ 6.005 6.060 6.042 6.023 5.987 5.970 5.952 5.936
100-02 5.991 6.049 6.030 6.011 5.973 5.954 5.936 5.919
100-02+ 5.978 6.038 6.018 5.998 5.958 5.939 5.919 5.901
100-03 5.964 6.027 6.006 5.985 5.943 5.923 5.902 5.884
100-03+ 5.950 6.016 5.994 5.972 5.928 5.907 5.886 5.866
100-04 5.936 6.006 5.982 5.959 5.913 5.891 5.869 5.848
100-04+ 5.922 5.995 5.971 5.946 5.899 5.876 5.852 5.831
100-05 5.909 5.984 5.959 5.934 5.884 5.860 5.836 5.813
100-05+ 5.895 5.973 5.947 5.921 5.869 5.844 5.819 5.796
100-06 5.881 5.962 5.935 5.908 5.854 5.829 5.803 5.778
100-06+ 5.867 5.951 5.923 5.895 5.840 5.813 5.786 5.761
100-07 5.853 5.941 5.911 5.882 5.825 5.797 5.769 5.743
100-07+ 5.840 5.930 5.900 5.870 5.810 5.782 5.753 5.726
First Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Average Life 1.202 1.547 1.412 1.298 1.120 1.051 0.989 0.938
Last Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Mod.Dur. @ 100-00 1.124 1.431 1.311 1.210 1.050 0.988 0.931 0.885
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $120,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $120,000,000.00 BOND AF-3 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.255 6.254 6.254 6.255 6.255 6.256 6.256 6.257
99-24+ 6.247 6.247 6.247 6.247 6.246 6.246 6.246 6.246
99-25 6.238 6.241 6.240 6.239 6.238 6.237 6.236 6.235
99-25+ 6.230 6.234 6.233 6.232 6.229 6.227 6.226 6.224
99-26 6.222 6.228 6.226 6.224 6.220 6.217 6.215 6.213
99-26+ 6.213 6.222 6.219 6.216 6.211 6.208 6.205 6.202
99-27 6.205 6.215 6.212 6.208 6.202 6.198 6.195 6.191
99-27+ 6.197 6.209 6.205 6.201 6.193 6.189 6.185 6.181
99-28 6.188 6.202 6.198 6.193 6.184 6.179 6.174 6.170
99-28+ 6.180 6.196 6.190 6.185 6.175 6.170 6.164 6.159
99-29 6.172 6.189 6.183 6.178 6.166 6.160 6.154 6.148
99-29+ 6.163 6.183 6.176 6.170 6.157 6.150 6.144 6.137
99-30 6.155 6.176 6.169 6.162 6.148 6.141 6.134 6.126
99-30+ 6.147 6.170 6.162 6.154 6.139 6.131 6.123 6.116
99-31 6.139 6.163 6.155 6.147 6.130 6.122 6.113 6.105
99-31+ 6.130 6.157 6.148 6.139 6.121 6.112 6.103 6.094
100-00 6.122 6.150 6.141 6.131 6.112 6.103 6.093 6.083
100-00+ 6.114 6.144 6.134 6.124 6.103 6.093 6.083 6.072
100-01 6.105 6.137 6.127 6.116 6.094 6.084 6.073 6.061
100-01+ 6.097 6.131 6.120 6.108 6.085 6.074 6.062 6.051
100-02 6.089 6.125 6.113 6.101 6.077 6.064 6.052 6.040
100-02+ 6.080 6.118 6.105 6.093 6.068 6.055 6.042 6.029
100-03 6.072 6.112 6.098 6.085 6.059 6.045 6.032 6.018
100-03+ 6.064 6.105 6.091 6.078 6.050 6.036 6.022 6.007
100-04 6.056 6.099 6.084 6.070 6.041 6.026 6.011 5.997
100-04+ 6.047 6.092 6.077 6.062 6.032 6.017 6.001 5.986
100-05 6.039 6.086 6.070 6.055 6.023 6.007 5.991 5.975
100-05+ 6.031 6.079 6.063 6.047 6.014 5.998 5.981 5.964
100-06 6.022 6.073 6.056 6.039 6.005 5.988 5.971 5.953
100-06+ 6.014 6.067 6.049 6.032 5.996 5.979 5.961 5.943
100-07 6.006 6.060 6.042 6.024 5.987 5.969 5.950 5.932
100-07+ 5.997 6.054 6.035 6.016 5.978 5.959 5.940 5.921
First Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Average Life 2.057 2.699 2.444 2.234 1.904 1.772 1.656 1.554
Last Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Mod.Dur. @ 100-00 1.872 2.407 2.197 2.022 1.741 1.627 1.526 1.436
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $45,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $45,000,000.00 BOND AF-4 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.329 6.329 6.329 6.329 6.330 6.330 6.330 6.330
99-24+ 6.324 6.324 6.324 6.324 6.323 6.323 6.323 6.322
99-25 6.318 6.320 6.319 6.318 6.317 6.316 6.316 6.315
99-25+ 6.312 6.315 6.314 6.313 6.311 6.310 6.308 6.307
99-26 6.306 6.311 6.309 6.308 6.305 6.303 6.301 6.300
99-26+ 6.300 6.307 6.305 6.303 6.298 6.296 6.294 6.292
99-27 6.295 6.302 6.300 6.297 6.292 6.290 6.287 6.284
99-27+ 6.289 6.298 6.295 6.292 6.286 6.283 6.280 6.277
99-28 6.283 6.293 6.290 6.287 6.280 6.276 6.273 6.269
99-28+ 6.277 6.289 6.285 6.281 6.273 6.269 6.265 6.261
99-29 6.272 6.284 6.280 6.276 6.267 6.263 6.258 6.254
99-29+ 6.266 6.280 6.275 6.271 6.261 6.256 6.251 6.246
99-30 6.260 6.276 6.271 6.265 6.255 6.249 6.244 6.238
99-30+ 6.254 6.271 6.266 6.260 6.249 6.243 6.237 6.231
99-31 6.248 6.267 6.261 6.255 6.242 6.236 6.230 6.223
99-31+ 6.243 6.262 6.256 6.249 6.236 6.229 6.223 6.215
100-00 6.237 6.258 6.251 6.244 6.230 6.223 6.215 6.208
100-00+ 6.231 6.253 6.246 6.239 6.224 6.216 6.208 6.200
100-01 6.225 6.249 6.241 6.233 6.217 6.209 6.201 6.192
100-01+ 6.220 6.245 6.237 6.228 6.211 6.203 6.194 6.185
100-02 6.214 6.240 6.232 6.223 6.205 6.196 6.187 6.177
100-02+ 6.208 6.236 6.227 6.217 6.199 6.189 6.180 6.170
100-03 6.202 6.231 6.222 6.212 6.193 6.183 6.172 6.162
100-03+ 6.197 6.227 6.217 6.207 6.186 6.176 6.165 6.154
100-04 6.191 6.223 6.212 6.202 6.180 6.169 6.158 6.147
100-04+ 6.185 6.218 6.207 6.196 6.174 6.163 6.151 6.139
100-05 6.179 6.214 6.203 6.191 6.168 6.156 6.144 6.131
100-05+ 6.173 6.209 6.198 6.186 6.161 6.149 6.137 6.124
100-06 6.168 6.205 6.193 6.180 6.155 6.143 6.130 6.116
100-06+ 6.162 6.200 6.188 6.175 6.149 6.136 6.123 6.109
100-07 6.156 6.196 6.183 6.170 6.143 6.129 6.115 6.101
100-07+ 6.150 6.192 6.178 6.164 6.137 6.123 6.108 6.093
First Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Average Life 3.051 4.111 3.695 3.344 2.810 2.601 2.415 2.249
Last Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Mod.Dur. @ 100-00 2.694 3.515 3.200 2.927 2.499 2.328 2.174 2.035
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $59,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $59,000,000.00 BOND AF-5 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.481 6.481 6.481 6.481 6.481 6.481 6.481 6.481
99-24+ 6.477 6.478 6.477 6.477 6.476 6.476 6.475 6.475
99-25 6.472 6.474 6.473 6.473 6.471 6.471 6.470 6.469
99-25+ 6.468 6.471 6.470 6.469 6.466 6.465 6.464 6.463
99-26 6.463 6.467 6.466 6.464 6.462 6.460 6.459 6.457
99-26+ 6.458 6.464 6.462 6.460 6.457 6.455 6.453 6.451
99-27 6.454 6.460 6.458 6.456 6.452 6.450 6.447 6.445
99-27+ 6.449 6.457 6.454 6.452 6.447 6.444 6.442 6.439
99-28 6.445 6.453 6.451 6.448 6.442 6.439 6.436 6.433
99-28+ 6.440 6.450 6.447 6.444 6.437 6.434 6.430 6.427
99-29 6.436 6.446 6.443 6.439 6.432 6.428 6.425 6.421
99-29+ 6.431 6.443 6.439 6.435 6.427 6.423 6.419 6.415
99-30 6.427 6.439 6.435 6.431 6.423 6.418 6.413 6.409
99-30+ 6.422 6.436 6.431 6.427 6.418 6.413 6.408 6.403
99-31 6.418 6.432 6.428 6.423 6.413 6.407 6.402 6.397
99-31+ 6.413 6.429 6.424 6.419 6.408 6.402 6.396 6.390
100-00 6.409 6.425 6.420 6.414 6.403 6.397 6.391 6.384
100-00+ 6.404 6.422 6.416 6.410 6.398 6.392 6.385 6.378
100-01 6.400 6.419 6.412 6.406 6.393 6.386 6.379 6.372
100-01+ 6.395 6.415 6.409 6.402 6.388 6.381 6.374 6.366
100-02 6.391 6.412 6.405 6.398 6.384 6.376 6.368 6.360
100-02+ 6.386 6.408 6.401 6.394 6.379 6.371 6.362 6.354
100-03 6.382 6.405 6.397 6.390 6.374 6.365 6.357 6.348
100-03+ 6.377 6.401 6.393 6.385 6.369 6.360 6.351 6.342
100-04 6.373 6.398 6.390 6.381 6.364 6.355 6.346 6.336
100-04+ 6.368 6.394 6.386 6.377 6.359 6.350 6.340 6.330
100-05 6.364 6.391 6.382 6.373 6.354 6.344 6.334 6.324
100-05+ 6.359 6.387 6.378 6.369 6.349 6.339 6.329 6.318
100-06 6.355 6.384 6.374 6.365 6.345 6.334 6.323 6.312
100-06+ 6.350 6.381 6.371 6.361 6.340 6.329 6.317 6.306
100-07 6.346 6.377 6.367 6.356 6.335 6.323 6.312 6.300
100-07+ 6.341 6.374 6.363 6.352 6.330 6.318 6.306 6.294
First Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Average Life 4.041 5.496 4.914 4.438 3.697 3.397 3.138 2.913
Last Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Mod.Dur. @ 100-00 3.449 4.486 4.083 3.742 3.189 2.957 2.754 2.575
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $43,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $43,000,000.00 BOND AF-6 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.598 6.598 6.598 6.598 6.598 6.598 6.598 6.598
99-24+ 6.595 6.596 6.595 6.595 6.594 6.594 6.594 6.593
99-25 6.591 6.593 6.593 6.592 6.591 6.590 6.589 6.589
99-25+ 6.588 6.591 6.590 6.589 6.587 6.586 6.585 6.584
99-26 6.584 6.588 6.587 6.586 6.583 6.582 6.580 6.579
99-26+ 6.581 6.586 6.584 6.582 6.579 6.578 6.576 6.574
99-27 6.577 6.583 6.581 6.579 6.576 6.574 6.572 6.570
99-27+ 6.574 6.581 6.579 6.576 6.572 6.570 6.567 6.565
99-28 6.570 6.578 6.576 6.573 6.568 6.566 6.563 6.560
99-28+ 6.567 6.576 6.573 6.570 6.564 6.561 6.559 6.556
99-29 6.564 6.573 6.570 6.567 6.560 6.557 6.554 6.551
99-29+ 6.560 6.571 6.567 6.564 6.557 6.553 6.550 6.546
99-30 6.557 6.568 6.565 6.560 6.553 6.549 6.546 6.542
99-30+ 6.553 6.566 6.562 6.557 6.549 6.545 6.541 6.537
99-31 6.550 6.563 6.559 6.554 6.545 6.541 6.537 6.532
99-31+ 6.546 6.561 6.556 6.551 6.542 6.537 6.533 6.528
100-00 6.543 6.558 6.553 6.548 6.538 6.533 6.528 6.523
100-00+ 6.539 6.556 6.551 6.545 6.534 6.529 6.524 6.518
100-01 6.536 6.553 6.548 6.542 6.530 6.525 6.520 6.514
100-01+ 6.532 6.551 6.545 6.539 6.527 6.521 6.515 6.509
100-02 6.529 6.548 6.542 6.535 6.523 6.517 6.511 6.504
100-02+ 6.526 6.546 6.539 6.532 6.519 6.513 6.506 6.500
100-03 6.522 6.543 6.537 6.529 6.515 6.509 6.502 6.495
100-03+ 6.519 6.541 6.534 6.526 6.512 6.505 6.498 6.491
100-04 6.515 6.538 6.531 6.523 6.508 6.501 6.493 6.486
100-04+ 6.512 6.536 6.528 6.520 6.504 6.497 6.489 6.481
100-05 6.508 6.533 6.525 6.517 6.501 6.493 6.485 6.477
100-05+ 6.505 6.531 6.523 6.513 6.497 6.489 6.480 6.472
100-06 6.501 6.528 6.520 6.510 6.493 6.485 6.476 6.467
100-06+ 6.498 6.526 6.517 6.507 6.489 6.481 6.472 6.463
100-07 6.495 6.523 6.514 6.504 6.486 6.476 6.467 6.458
100-07+ 6.491 6.521 6.511 6.501 6.482 6.472 6.463 6.453
First Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Average Life 5.539 8.353 7.194 6.230 5.019 4.584 4.219 3.897
Last Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Mod.Dur. @ 100-00 4.501 6.222 5.547 4.952 4.144 3.837 3.572 3.333
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 7.013 7.013 7.013 7.013 7.012 7.012 7.012 7.012
99-24+ 7.010 7.011 7.011 7.011 7.010 7.010 7.009 7.008
99-25 7.008 7.009 7.009 7.009 7.008 7.007 7.006 7.005
99-25+ 7.006 7.008 7.007 7.007 7.005 7.004 7.003 7.002
99-26 7.004 7.006 7.005 7.005 7.003 7.002 7.001 6.999
99-26+ 7.002 7.004 7.003 7.002 7.000 6.999 6.998 6.996
99-27 6.999 7.002 7.001 7.000 6.998 6.997 6.995 6.993
99-27+ 6.997 7.000 6.999 6.998 6.996 6.994 6.992 6.990
99-28 6.995 6.998 6.997 6.996 6.993 6.991 6.989 6.987
99-28+ 6.993 6.996 6.995 6.994 6.991 6.989 6.986 6.984
99-29 6.990 6.995 6.993 6.992 6.988 6.986 6.984 6.981
99-29+ 6.988 6.993 6.991 6.990 6.986 6.984 6.981 6.978
99-30 6.986 6.991 6.990 6.988 6.984 6.981 6.978 6.975
99-30+ 6.984 6.989 6.988 6.986 6.981 6.978 6.975 6.972
99-31 6.982 6.987 6.986 6.984 6.979 6.976 6.972 6.969
99-31+ 6.979 6.985 6.984 6.982 6.976 6.973 6.970 6.965
100-00 6.977 6.983 6.982 6.980 6.974 6.971 6.967 6.962
100-00+ 6.975 6.982 6.980 6.978 6.972 6.968 6.964 6.959
100-01 6.973 6.980 6.978 6.976 6.969 6.965 6.961 6.956
100-01+ 6.971 6.978 6.976 6.974 6.967 6.963 6.958 6.953
100-02 6.968 6.976 6.974 6.971 6.965 6.960 6.955 6.950
100-02+ 6.966 6.974 6.972 6.969 6.962 6.958 6.953 6.947
100-03 6.964 6.972 6.970 6.967 6.960 6.955 6.950 6.944
100-03+ 6.962 6.971 6.968 6.965 6.957 6.953 6.947 6.941
100-04 6.959 6.969 6.966 6.963 6.955 6.950 6.944 6.938
100-04+ 6.957 6.967 6.964 6.961 6.953 6.947 6.941 6.935
100-05 6.955 6.965 6.962 6.959 6.950 6.945 6.939 6.932
100-05+ 6.953 6.963 6.960 6.957 6.948 6.942 6.936 6.929
100-06 6.951 6.961 6.958 6.955 6.945 6.940 6.933 6.926
100-06+ 6.948 6.960 6.956 6.953 6.943 6.937 6.930 6.923
100-07 6.946 6.958 6.954 6.951 6.941 6.934 6.927 6.919
100-07+ 6.944 6.956 6.952 6.949 6.938 6.932 6.925 6.916
First Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Average Life 10.252 13.464 12.344 11.311 9.234 8.305 7.440 6.658
Last Payment 16.208 20.792 19.042 17.542 14.958 14.208 13.625 12.792
Mod.Dur. @ 100-00 7.016 8.412 7.966 7.520 6.497 5.999 5.516 5.061
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-23 7.017 7.017 7.017 7.017 7.018 7.018 7.018 7.018
99-23+ 7.015 7.015 7.015 7.015 7.015 7.015 7.015 7.015
99-24 7.012 7.012 7.012 7.012 7.012 7.012 7.011 7.011
99-24+ 7.009 7.010 7.010 7.010 7.009 7.009 7.008 7.008
99-25 7.007 7.008 7.007 7.007 7.006 7.006 7.005 7.005
99-25+ 7.004 7.005 7.005 7.005 7.003 7.003 7.002 7.001
99-26 7.001 7.003 7.002 7.002 7.001 7.000 6.999 6.998
99-26+ 6.999 7.001 7.000 6.999 6.998 6.997 6.996 6.994
99-27 6.996 6.998 6.998 6.997 6.995 6.994 6.993 6.991
99-27+ 6.994 6.996 6.995 6.994 6.992 6.991 6.989 6.988
99-28 6.991 6.993 6.993 6.992 6.989 6.988 6.986 6.984
99-28+ 6.988 6.991 6.990 6.989 6.987 6.985 6.983 6.981
99-29 6.986 6.989 6.988 6.987 6.984 6.982 6.980 6.978
99-29+ 6.983 6.986 6.985 6.984 6.981 6.979 6.977 6.974
99-30 6.980 6.984 6.983 6.982 6.978 6.976 6.974 6.971
99-30+ 6.978 6.982 6.980 6.979 6.975 6.973 6.970 6.968
99-31 6.975 6.979 6.978 6.977 6.973 6.970 6.967 6.964
99-31+ 6.972 6.977 6.975 6.974 6.970 6.967 6.964 6.961
100-00 6.970 6.974 6.973 6.971 6.967 6.964 6.961 6.958
100-00+ 6.967 6.972 6.971 6.969 6.964 6.961 6.958 6.954
100-01 6.964 6.970 6.968 6.966 6.961 6.958 6.955 6.951
100-01+ 6.962 6.967 6.966 6.964 6.958 6.955 6.952 6.947
100-02 6.959 6.965 6.963 6.961 6.956 6.952 6.948 6.944
100-02+ 6.956 6.963 6.961 6.959 6.953 6.950 6.945 6.941
100-03 6.954 6.960 6.958 6.956 6.950 6.947 6.942 6.937
100-03+ 6.951 6.958 6.956 6.954 6.947 6.944 6.939 6.934
100-04 6.948 6.955 6.953 6.951 6.944 6.941 6.936 6.931
100-04+ 6.946 6.953 6.951 6.949 6.942 6.938 6.933 6.927
100-05 6.943 6.951 6.948 6.946 6.939 6.935 6.930 6.924
100-05+ 6.941 6.948 6.946 6.943 6.936 6.932 6.926 6.921
100-06 6.938 6.946 6.944 6.941 6.933 6.929 6.923 6.917
100-06+ 6.935 6.944 6.941 6.938 6.930 6.926 6.920 6.914
First Payment 6.625 9.125 8.708 8.125 5.875 5.375 4.875 4.458
Average Life 7.868 9.125 8.708 8.288 7.296 6.828 6.315 5.856
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 99-31 5.867 6.547 6.329 6.103 5.534 5.251 4.932 4.637
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $30,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $30,000,000.00 BOND AF-8 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.359 6.359 6.359 6.359 6.359 6.359 6.359 6.359
99-24+ 6.355 6.355 6.355 6.355 6.355 6.355 6.355 6.355
99-25 6.351 6.352 6.352 6.352 6.351 6.351 6.351 6.351
99-25+ 6.348 6.348 6.348 6.348 6.347 6.347 6.347 6.347
99-26 6.344 6.345 6.344 6.344 6.344 6.343 6.343 6.343
99-26+ 6.340 6.341 6.341 6.340 6.340 6.339 6.339 6.339
99-27 6.336 6.338 6.337 6.337 6.336 6.336 6.335 6.335
99-27+ 6.333 6.334 6.334 6.333 6.332 6.332 6.331 6.331
99-28 6.329 6.331 6.330 6.329 6.328 6.328 6.327 6.327
99-28+ 6.325 6.327 6.326 6.326 6.324 6.324 6.323 6.323
99-29 6.321 6.324 6.323 6.322 6.321 6.320 6.319 6.319
99-29+ 6.317 6.320 6.319 6.318 6.317 6.316 6.315 6.315
99-30 6.314 6.316 6.316 6.315 6.313 6.312 6.311 6.311
99-30+ 6.310 6.313 6.312 6.311 6.309 6.308 6.307 6.307
99-31 6.306 6.309 6.308 6.307 6.305 6.304 6.303 6.302
99-31+ 6.302 6.306 6.305 6.304 6.301 6.300 6.299 6.298
100-00 6.299 6.302 6.301 6.300 6.298 6.296 6.295 6.294
100-00+ 6.295 6.299 6.298 6.296 6.294 6.293 6.291 6.290
100-01 6.291 6.295 6.294 6.293 6.290 6.289 6.287 6.286
100-01+ 6.287 6.292 6.290 6.289 6.286 6.285 6.283 6.282
100-02 6.284 6.288 6.287 6.285 6.282 6.281 6.280 6.278
100-02+ 6.280 6.285 6.283 6.281 6.278 6.277 6.276 6.274
100-03 6.276 6.281 6.280 6.278 6.275 6.273 6.272 6.270
100-03+ 6.272 6.278 6.276 6.274 6.271 6.269 6.268 6.266
100-04 6.269 6.274 6.272 6.270 6.267 6.265 6.264 6.262
100-04+ 6.265 6.271 6.269 6.267 6.263 6.261 6.260 6.258
100-05 6.261 6.267 6.265 6.263 6.259 6.257 6.256 6.254
100-05+ 6.257 6.264 6.262 6.259 6.255 6.254 6.252 6.250
100-06 6.254 6.260 6.258 6.256 6.252 6.250 6.248 6.246
100-06+ 6.250 6.256 6.254 6.252 6.248 6.246 6.244 6.242
100-07 6.246 6.253 6.251 6.248 6.244 6.242 6.240 6.238
100-07+ 6.242 6.249 6.247 6.245 6.240 6.238 6.236 6.234
First Payment 3.042 3.042 3.042 3.042 3.042 3.042 3.042 3.042
Average Life 4.991 5.390 5.255 5.116 4.879 4.776 4.682 4.594
Last Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Mod.Dur. @ 100-00 4.132 4.404 4.312 4.218 4.053 3.981 3.915 3.853
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.512 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.509 6.509 6.509 6.508
99-26 6.506 6.507 6.507 6.506 6.506 6.506 6.506 6.506
99-26+ 6.504 6.504 6.504 6.504 6.504 6.503 6.503 6.503
99-27 6.501 6.502 6.502 6.501 6.501 6.501 6.500 6.500
99-27+ 6.499 6.499 6.499 6.499 6.498 6.498 6.498 6.498
99-28 6.496 6.497 6.497 6.496 6.496 6.495 6.495 6.495
99-28+ 6.493 6.495 6.494 6.494 6.493 6.493 6.492 6.492
99-29 6.491 6.492 6.492 6.491 6.490 6.490 6.490 6.489
99-29+ 6.488 6.490 6.489 6.489 6.488 6.487 6.487 6.487
99-30 6.486 6.487 6.487 6.486 6.485 6.485 6.484 6.484
99-30+ 6.483 6.485 6.484 6.483 6.482 6.482 6.482 6.481
99-31 6.480 6.482 6.482 6.481 6.480 6.479 6.479 6.478
99-31+ 6.478 6.480 6.479 6.478 6.477 6.477 6.476 6.476
100-00 6.475 6.477 6.477 6.476 6.475 6.474 6.473 6.473
100-00+ 6.473 6.475 6.474 6.473 6.472 6.471 6.471 6.470
100-01 6.470 6.472 6.472 6.471 6.469 6.469 6.468 6.468
100-01+ 6.467 6.470 6.469 6.468 6.467 6.466 6.465 6.465
100-02 6.465 6.468 6.467 6.466 6.464 6.463 6.463 6.462
100-02+ 6.462 6.465 6.464 6.463 6.461 6.461 6.460 6.459
100-03 6.460 6.463 6.462 6.461 6.459 6.458 6.457 6.457
100-03+ 6.457 6.460 6.459 6.458 6.456 6.455 6.455 6.454
100-04 6.454 6.458 6.457 6.455 6.454 6.453 6.452 6.451
100-04+ 6.452 6.455 6.454 6.453 6.451 6.450 6.449 6.448
100-05 6.449 6.453 6.452 6.450 6.448 6.447 6.447 6.446
100-05+ 6.447 6.450 6.449 6.448 6.446 6.445 6.444 6.443
100-06 6.444 6.448 6.447 6.445 6.443 6.442 6.441 6.440
100-06+ 6.442 6.445 6.444 6.443 6.440 6.439 6.439 6.438
100-07 6.439 6.443 6.442 6.440 6.438 6.437 6.436 6.435
100-07+ 6.436 6.441 6.439 6.438 6.435 6.434 6.433 6.432
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.925 8.521 8.294 8.096 7.775 7.638 7.520 7.411
Last Payment 14.208 20.542 18.875 17.375 14.208 14.208 13.458 12.625
Mod.Dur. @ 100-00 6.003 6.333 6.209 6.100 5.918 5.838 5.768 5.702
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.511 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.508 6.508 6.508 6.508
99-26 6.506 6.507 6.506 6.506 6.506 6.506 6.505 6.505
99-26+ 6.503 6.504 6.504 6.504 6.503 6.503 6.503 6.502
99-27 6.501 6.502 6.501 6.501 6.500 6.500 6.500 6.499
99-27+ 6.498 6.499 6.499 6.498 6.498 6.497 6.497 6.497
99-28 6.495 6.497 6.496 6.496 6.495 6.495 6.494 6.494
99-28+ 6.493 6.494 6.493 6.493 6.492 6.492 6.491 6.491
99-29 6.490 6.491 6.491 6.490 6.489 6.489 6.488 6.488
99-29+ 6.487 6.489 6.488 6.488 6.487 6.486 6.486 6.485
99-30 6.485 6.486 6.486 6.485 6.484 6.483 6.483 6.482
99-30+ 6.482 6.484 6.483 6.482 6.481 6.481 6.480 6.479
99-31 6.479 6.481 6.481 6.480 6.479 6.478 6.477 6.476
99-31+ 6.477 6.479 6.478 6.477 6.476 6.475 6.474 6.474
100-00 6.474 6.476 6.475 6.475 6.473 6.472 6.471 6.471
100-00+ 6.471 6.474 6.473 6.472 6.470 6.470 6.469 6.468
100-01 6.469 6.471 6.470 6.469 6.468 6.467 6.466 6.465
100-01+ 6.466 6.469 6.468 6.467 6.465 6.464 6.463 6.462
100-02 6.463 6.466 6.465 6.464 6.462 6.461 6.460 6.459
100-02+ 6.461 6.464 6.463 6.461 6.459 6.459 6.457 6.456
100-03 6.458 6.461 6.460 6.459 6.457 6.456 6.455 6.453
100-03+ 6.455 6.459 6.457 6.456 6.454 6.453 6.452 6.451
100-04 6.453 6.456 6.455 6.454 6.451 6.450 6.449 6.448
100-04+ 6.450 6.454 6.452 6.451 6.449 6.448 6.446 6.445
100-05 6.447 6.451 6.450 6.448 6.446 6.445 6.443 6.442
100-05+ 6.445 6.449 6.447 6.446 6.443 6.442 6.440 6.439
100-06 6.442 6.446 6.445 6.443 6.440 6.439 6.438 6.436
100-06+ 6.439 6.444 6.442 6.441 6.438 6.437 6.435 6.433
100-07 6.437 6.441 6.440 6.438 6.435 6.434 6.432 6.430
100-07+ 6.434 6.439 6.437 6.435 6.432 6.431 6.429 6.428
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.598 8.208 7.978 7.759 7.407 7.271 7.078 6.917
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 100-00 5.825 6.176 6.046 5.919 5.711 5.629 5.511 5.412
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
- --------------------------------------------------------------------------------
- Money Store - MON8A
- Cut Off Date of Tape is 2/28/98
- Fixed Rate Collateral
- $367,994,024.88
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 6,145
Lien Status: First and Second Lien Loans
Aggregate Unpaid Principal Balance: $367,994,024.88
Aggregate Original Principal Balance: $369,471,154.00
Weighted Average Gross Coupon: 10.538%
Gross Coupon Range: 5.000% - 18.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $59,885.11
Average Original Principal Balance: $60,125.49
Maximum Unpaid Principal Balance: $657,686.44
Minimum Unpaid Principal Balance: $3,960.00
Maximum Original Principal Balance: $658,000.00
Minimum Original Principal Balance: $5,000.00
Weighted Avg. Rem Term (Sched. Last Pay to Mat/Bln Date): 265.516
Remaining Term Range: 35.000 - 480.000
Weighted Average Age (Original Term - Rem Term): 3.359
Age Range: 0.000 - 128.000
Weighted Average Original Term: 268.875
Original Term Range: 36.000 - 480.000
Weighted Average Combined LTV: 77.620
Combined LTV Range: 1.890% - 100.000%
Weighted Average FICO Score: 628.082 * 232 Scores are not
FICO Score Range: 379 - 827 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.26% Zip Code: 08540 State: NJ
Latest Maturing Loan: 03/15/38
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
4.50% * Gross Coupon *= 5.00% 1 9,411.59 0.00
5.50% * Gross Coupon *= 6.00% 1 16,741.94 0.00
6.50% * Gross Coupon *= 7.00% 2 155,234.81 0.04
7.00% * Gross Coupon *= 7.50% 6 691,587.96 0.19
7.50% * Gross Coupon *= 7.75% 17 1,694,043.25 0.46
7.75% * Gross Coupon *= 8.00% 14 1,322,067.96 0.36
8.00% * Gross Coupon *= 8.25% 16 2,211,332.87 0.60
8.25% * Gross Coupon *= 8.50% 34 3,667,179.50 1.00
8.50% * Gross Coupon *= 8.75% 86 9,525,367.45 2.59
8.75% * Gross Coupon *= 9.00% 397 33,525,444.22 9.11
9.00% * Gross Coupon *= 9.25% 138 13,745,798.07 3.74
9.25% * Gross Coupon *= 9.50% 289 23,711,069.90 6.44
9.50% * Gross Coupon *= 9.75% 352 29,730,286.97 8.08
9.75% * Gross Coupon *= 10.00% 644 52,821,086.30 14.35
10.00% * Gross Coupon *= 10.25% 145 10,473,826.70 2.85
10.25% * Gross Coupon *= 10.50% 350 23,210,502.81 6.31
10.50% * Gross Coupon *= 10.75% 373 27,137,250.72 7.37
10.75% * Gross Coupon *= 11.00% 505 31,518,089.33 8.56
11.00% * Gross Coupon *= 11.25% 229 11,711,648.62 3.18
11.25% * Gross Coupon *= 11.50% 286 13,577,233.42 3.69
11.50% * Gross Coupon *= 11.75% 294 11,959,901.03 3.25
11.75% * Gross Coupon *= 12.00% 437 15,564,858.97 4.23
12.00% * Gross Coupon *= 12.25% 221 7,444,427.65 2.02
12.25% * Gross Coupon *= 12.50% 269 9,127,310.81 2.48
12.50% * Gross Coupon *= 12.75% 158 6,689,124.02 1.82
12.75% * Gross Coupon *= 13.00% 257 7,793,959.61 2.12
13.00% * Gross Coupon *= 13.25% 122 3,625,632.23 0.99
13.25% * Gross Coupon *= 13.50% 154 5,058,515.80 1.37
13.50% * Gross Coupon *= 13.75% 105 3,213,944.67 0.87
13.75% * Gross Coupon *= 14.00% 108 3,066,200.53 0.83
14.00% * Gross Coupon *= 14.25% 35 1,089,217.70 0.30
14.25% * Gross Coupon *= 14.50% 39 1,151,443.73 0.31
14.50% * Gross Coupon *= 14.75% 19 554,119.64 0.15
14.75% * Gross Coupon *= 15.00% 21 602,891.15 0.16
15.00% * Gross Coupon *= 15.25% 4 138,831.86 0.04
15.25% * Gross Coupon *= 15.50% 6 167,700.54 0.05
15.50% * Gross Coupon *= 15.75% 2 50,135.85 0.01
15.75% * Gross Coupon *= 16.00% 2 57,141.10 0.02
16.50% * Gross Coupon *= 16.75% 2 85,591.18 0.02
16.75% * Gross Coupon *= 17.00% 1 23,946.30 0.01
17.00% * Gross Coupon *= 17.25% 1 11,726.12 0.00
17.25% * Gross Coupon *= 17.50% 1 14,950.00 0.00
18.50% * Gross Coupon *= 19.00% 2 47,250.00 0.01
- -------------------------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
===============================================================================
* = Less than
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
24 * Orig. Term *= 36 3 20,200.00 0.01%
36 * Orig. Term *= 48 1 23,603.45 0.01%
48 * Orig. Term *= 60 146 2,215,376.88 0.60%
60 * Orig. Term *= 72 12 211,623.98 0.06%
72 * Orig. Term *= 84 56 1,424,528.27 0.39%
84 * Orig. Term *= 96 13 279,952.60 0.08%
96 * Orig. Term *= 108 5 178,554.09 0.05%
108 * Orig. Term *= 120 642 15,352,879.20 4.17%
120 * Orig. Term *= 132 2 56,800.00 0.02%
132 * Orig. Term *= 144 23 662,857.23 0.18%
144 * Orig. Term *= 156 1 16,240.00 0.00%
156 * Orig. Term *= 168 3 138,335.52 0.04%
168 * Orig. Term *= 180 2,323 131,808,796.73 35.82%
192 * Orig. Term *= 204 4 147,150.00 0.04%
204 * Orig. Term *= 216 7 469,992.77 0.13%
216 * Orig. Term *= 228 1 86,500.00 0.02%
228 * Orig. Term *= 240 619 34,026,978.75 9.25%
240 * Orig. Term *= 252 1 24,646.03 0.01%
252 * Orig. Term *= 264 1 29,000.00 0.01%
288 * Orig. Term *= 300 296 13,534,223.32 3.68%
348 * Orig. Term *= 360 1,959 164,635,739.32 44.74%
468 * Orig. Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
24 * Rem Term *= 36 3 20,200.00 0.01%
36 * Rem Term *= 48 2 31,442.49 0.01%
48 * Rem Term *= 60 147 2,262,694.91 0.61%
60 * Rem Term *= 72 14 301,597.63 0.08%
72 * Rem Term *= 84 57 1,359,356.89 0.37%
84 * Rem Term *= 96 18 434,297.61 0.12%
96 * Rem Term *= 108 7 254,048.18 0.07%
108 * Rem Term *= 120 636 15,177,532.87 4.12%
120 * Rem Term *= 132 9 239,669.49 0.07%
132 * Rem Term *= 144 25 748,340.89 0.20%
144 * Rem Term *= 156 53 4,604,562.26 1.25%
156 * Rem Term *= 168 55 9,200,446.00 2.50%
168 * Rem Term *= 180 2,204 117,755,558.73 32.00%
192 * Rem Term *= 204 4 147,150.00 0.04%
204 * Rem Term *= 216 12 1,047,202.40 0.28%
216 * Rem Term *= 228 9 1,453,663.71 0.40%
228 * Rem Term *= 240 607 32,107,251.44 8.72%
252 * Rem Term *= 264 1 29,000.00 0.01%
276 * Rem Term *= 288 1 29,755.99 0.01%
288 * Rem Term *= 300 295 13,504,467.33 3.67%
324 * Rem Term *= 336 23 2,226,196.31 0.60%
336 * Rem Term *= 348 12 2,303,278.33 0.63%
348 * Rem Term *= 360 1,924 160,106,264.68 43.51%
468 * Rem Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
AGE OF LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
<S> <C> <C> <C>
Age = 0 2,278 113,829,780.23 30.93%
0 * Age *= 12 3,703 236,097,440.99 64.16%
12 * Age *= 24 81 11,761,107.48 3.20%
24 * Age *= 36 67 5,919,417.47 1.61%
36 * Age *= 48 3 51,708.34 0.01%
48 * Age *= 60 6 173,392.10 0.05%
60 * Age *= 72 1 26,726.16 0.01%
72 * Age *= 84 5 106,021.20 0.03%
120 * Age *= 132 1 28,430.91 0.01%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
<S> <C> <C> <C>
1987 1 28,430.91 0.01
1991 5 84,411.66 0.02
1992 2 57,747.29 0.02
1993 6 173,392.10 0.05
1994 3 173,697.73 0.05
1995 63 5,028,434.54 1.37
1996 57 7,071,898.79 1.92
1997 2084 162,426,330.52 44.14
1998 3924 192,949,681.34 52.43
- --------------------------------------------------------------------------
Total................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Combined Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
0.00 * CLTV *= 5.00 2 10,921.25 0.00
5.00 * CLTV *= 10.00 8 77,523.73 0.02
10.00 * CLTV *= 15.00 16 223,208.76 0.06
15.00 * CLTV *= 20.00 33 616,085.48 0.17
20.00 * CLTV *= 25.00 51 1,162,249.36 0.32
25.00 * CLTV *= 30.00 61 2,074,953.84 0.56
30.00 * CLTV *= 35.00 89 2,667,485.23 0.72
35.00 * CLTV *= 40.00 93 3,194,192.67 0.87
40.00 * CLTV *= 45.00 105 4,090,307.58 1.11
45.00 * CLTV *= 50.00 115 5,136,383.29 1.40
50.00 * CLTV *= 55.00 152 6,210,624.53 1.69
55.00 * CLTV *= 60.00 207 11,530,215.11 3.13
60.00 * CLTV *= 65.00 318 17,179,345.23 4.67
65.00 * CLTV *= 70.00 529 28,620,921.78 7.78
70.00 * CLTV *= 75.00 547 33,597,637.13 9.13
75.00 * CLTV *= 80.00 1396 86,963,799.46 23.63
80.00 * CLTV *= 85.00 987 68,480,092.54 18.61
85.00 * CLTV *= 90.00 1092 79,119,291.70 21.50
90.00 * CLTV *= 95.00 175 8,002,778.92 2.17
95.00 * CLTV *=100.00 169 9,036,007.29 2.46
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 4 19,859.66 0.01
5,000 * Balance *= 10,000 166 1,380,107.56 0.38
10,000 * Balance *= 15,000 364 4,619,132.22 1.26
15,000 * Balance *= 20,000 414 7,352,185.66 2.00
20,000 * Balance *= 25,000 469 10,654,660.28 2.90
25,000 * Balance *= 30,000 486 13,533,718.51 3.68
30,000 * Balance *= 35,000 420 13,757,611.02 3.74
35,000 * Balance *= 40,000 422 15,907,998.18 4.32
40,000 * Balance *= 45,000 339 14,521,676.04 3.95
45,000 * Balance *= 50,000 368 17,538,041.06 4.77
50,000 * Balance *= 55,000 303 15,909,077.34 4.32
55,000 * Balance *= 60,000 302 17,457,862.88 4.74
60,000 * Balance *= 65,000 271 16,985,747.24 4.62
65,000 * Balance *= 70,000 219 14,799,598.26 4.02
70,000 * Balance *= 75,000 178 12,900,909.76 3.51
75,000 * Balance *= 80,000 150 11,622,699.66 3.16
80,000 * Balance *= 85,000 128 10,575,729.03 2.87
85,000 * Balance *= 90,000 107 9,360,958.10 2.54
90,000 * Balance *= 95,000 97 9,003,906.97 2.45
95,000 * Balance *= 100,000 87 8,498,755.43 2.31
100,000 * Balance *= 105,000 64 6,554,175.97 1.78
105,000 * Balance *= 110,000 71 7,638,185.53 2.08
110,000 * Balance *= 115,000 78 8,782,936.42 2.39
115,000 * Balance *= 120,000 64 7,539,952.54 2.05
120,000 * Balance *= 125,000 51 6,258,227.40 1.70
125,000 * Balance *= 130,000 46 5,863,404.41 1.59
130,000 * Balance *= 135,000 42 5,540,384.15 1.51
135,000 * Balance *= 140,000 37 5,087,810.93 1.38
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 19 6,692,168.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 6 27,905.95 0.01
5,000 * Balance *= 10,000 168 1,397,358.19 0.38
10,000 * Balance *= 15,000 365 4,635,843.79 1.26
15,000 * Balance *= 20,000 415 7,392,157.28 2.01
20,000 * Balance *= 25,000 471 10,723,766.97 2.91
25,000 * Balance *= 30,000 488 13,618,144.00 3.70
30,000 * Balance *= 35,000 416 13,656,557.00 3.71
35,000 * Balance *= 40,000 422 15,960,188.62 4.34
40,000 * Balance *= 45,000 339 14,543,365.27 3.95
45,000 * Balance *= 50,000 366 17,478,195.58 4.75
50,000 * Balance *= 55,000 305 16,032,921.88 4.36
55,000 * Balance *= 60,000 302 17,480,643.97 4.75
60,000 * Balance *= 65,000 268 16,822,636.39 4.57
65,000 * Balance *= 70,000 222 15,009,039.25 4.08
70,000 * Balance *= 75,000 179 12,999,438.20 3.53
75,000 * Balance *= 80,000 147 11,420,131.09 3.10
80,000 * Balance *= 85,000 127 10,501,580.18 2.85
85,000 * Balance *= 90,000 108 9,466,866.65 2.57
90,000 * Balance *= 95,000 95 8,824,432.83 2.40
95,000 * Balance *= 100,000 88 8,598,616.56 2.34
100,000 * Balance *= 105,000 63 6,473,134.36 1.76
105,000 * Balance *= 110,000 73 7,862,885.67 2.14
110,000 * Balance *= 115,000 77 8,681,401.99 2.36
115,000 * Balance *= 120,000 64 7,544,800.57 2.05
120,000 * Balance *= 125,000 49 6,025,660.48 1.64
125,000 * Balance *= 130,000 50 6,378,690.60 1.73
130,000 * Balance *= 135,000 40 5,286,069.79 1.44
135,000 * Balance *= 140,000 35 4,826,839.10 1.31
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 18 6,688,208.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* Less than.
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alaska 1 23,946.30 0.01
Alabama 3 540,105.47 0.15
Arkansas 21 1,241,633.31 0.34
Arizona 90 4,669,429.28 1.27
California 288 24,950,641.77 6.78
Colorado 94 6,684,549.05 1.82
Connecticut 51 5,190,321.80 1.41
Dist of Col 13 940,163.83 0.26
Delaware 23 1,598,190.44 0.43
Florida 377 22,788,435.47 6.19
Georgia 215 12,662,922.85 3.44
Hawaii 2 375,934.04 0.10
Iowa 44 1,622,881.50 0.44
Idaho 38 1,925,506.28 0.52
Illinois 276 15,809,945.87 4.30
Indiana 251 12,667,853.06 3.44
Kansas 90 4,223,826.45 1.15
Kentucky 127 7,252,144.91 1.97
Louisiana 82 3,265,941.21 0.89
Massachusetts 80 6,231,449.61 1.69
Maryland 90 6,673,483.09 1.81
Maine 43 2,039,478.17 0.55
Michigan 299 15,142,149.62 4.11
Minnesota 79 4,442,855.53 1.21
Missouri 189 7,706,840.30 2.09
Mississippi 160 7,803,703.15 2.12
Montana 16 995,273.54 0.27
North Carolina 309 20,409,179.45 5.55
North Dakota 5 141,062.74 0.04
Nebraska 41 1,837,082.06 0.50
New Hampshire 20 1,096,876.13 0.30
New Jersey 248 23,131,434.98 6.29
New Mexico 62 3,232,876.49 0.88
Nevada 35 3,067,049.55 0.83
New York 387 31,748,992.53 8.63
Ohio 327 19,279,525.60 5.24
Oklahoma 51 2,344,105.17 0.64
Oregon 50 3,281,786.97 0.89
Pennsylvania 346 17,263,714.54 4.69
Rhode Island 9 624,570.99 0.17
South Carolina 237 12,839,006.44 3.49
South Dakota 6 147,240.91 0.04
Tennessee 162 9,344,083.36 2.54
Texas 447 18,108,779.86 4.92
Utah 31 1,957,947.04 0.53
Virginia 73 4,806,484.66 1.31
Vermont 17 841,623.71 0.23
Washington 135 8,340,756.71 2.27
Wisconsin 60 2,678,868.48 0.73
West Virgina 36 1,619,575.47 0.44
Wyoming 9 381,795.14 0.10
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Single Family Detached 5277 312,195,463.82 84.84
2-4 Family 282 21,293,358.11 5.79
Deminimus PUD 1 22,800.00 0.01
Single Wide MH 163 6,644,133.07 1.81
Double Wide MH 145 6,971,198.60 1.89
Triple Wide MH 1 76,443.38 0.02
Mixed Use 38 3,041,625.06 0.83
Townhouses 35 1,530,947.48 0.42
Condominiums 86 4,020,025.77 1.09
PUD Detached 82 6,718,280.83 1.83
PUD Attached 13 723,897.73 0.20
Multi-Family 22 4,755,851.03 1.29
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Owner Occ. 5776 346,630,942.23 94.19
Investor 328 19,447,945.15 5.28
Vacation/Second Home 41 1,915,137.50 0.52
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Full Documentation 6145 367,994,024.88 100.00
- ----------------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==================================================================================
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Purchase 297 29,193,242.87 7.93
Refinance/No ETO 3437 261,515,239.47 71.07
Refinance/ETO 980 29,789,718.74 8.10
Home Improvement 4 85,357.73 0.02
Debt Consolidation 1420 45,701,990.29 12.42
Other 7 1,708,475.78 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN TYPE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
LOAN TYPE Loans Balance Balance
<S> <C> <C> <C>
FIXED 6137 366,247,814.24 99.53
4/26 6M LIBOR 1 56,956.89 0.02
6 MONTH LIBOR 7 1,689,253.75 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
1 4494 317,608,289.84 86.31
2 1651 50,385,735.04 13.69
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
COLLATERAL GRADE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
<S> <C> <C> <C>
A 1956 144,348,916.93 39.23
A- 1903 115,856,014.86 31.48
B+ 732 40,405,472.68 10.98
B 967 44,699,006.56 12.15
B- 388 14,453,831.32 3.93
C+ 17 652,545.80 0.18
C 177 7,448,281.75 2.02
C- 5 129,954.98 0.04
- -----------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
=================================================================
</TABLE>
<PAGE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
<S> <C> <C> <C>
Fully Amortizing 5605 309,197,620.87 84.02
Partially Amortizing 540 58,796,404.01 15.98
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
FICO SCORE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
FICO *= 550 864 43,006,597.11 11.69
551 * FICO *= 600 1351 76,990,346.40 20.92
601 * FICO *= 650 1674 104,958,835.82 28.52
651 * FICO *= 700 1334 86,219,342.54 23.43
700 * FICO 690 44,535,306.02 12.10
Unavailable FICO 232 12,283,596.99 3.34
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* = Less than.
</TABLE>
Receipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction
with the related Prospectus and Prospectus Supplement. If you have not received
the statement described above or the related Prospectus and Prospectus
Supplement, please contact your account executive at Bear, Stearns & Co. Inc.
BEAR STEARNS
<PAGE>
EXHIBIT 99.6
COMPUTATIONAL MATERIALS
THE MONEY STORE TRUST 1998-A
Sales Memorandum-Subject to Revision
THE MONEY STORE INC.
REPRESENTATIVE AND SERVICER
ARM: 100% MBIA GUARANTY
$[510,000,000] ADJUSTABLE RATE CLASS AV CERTIFICATES
FIXED RATE HEL AND HOME IMPROVEMENT: 100% MBIA GUARANTY
$[570,000,000](1) CLASS AF CERTIFICATES, [ %] PASS-THROUGH RATE
$[165,000,000](1) CLASS H CERTIFICATES, [ %] PASS-THROUGH RATE
(1) Salomon Not Involved
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 Representative has 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.
<PAGE>
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.
The Money Store Trust 1998-A
- -------------------------------------------------------------------------------
CERTIFICATE CLASS AV (SUPPORTED BY ADJUSTABLE-RATE
MORTGAGE LOANS)
- -------------------------------------------------------------------------------
Settlement Date: [March 30, 1998]
Dated Date: [March 15, 1998]
Prepayment Assumption: [26% CPR]--Actual prepayments may vary.
Class AV
--------------
Moody's Rating: Aaa
Standard & Poor's Rating: AAA
--------------
Approximate Size: [$510,000,000]
Avg. Life to Maturity:(app.) [2.965]
Avg. Life to Call: (app.) [2.761]
Coupon: [TBD]
Coupon Day Count: Actual/360
Expected Maturity (to maturity): [02/15/15]
Expected Maturity (to call): [04/15/06]
Stated Maturity: [06/15/29]
- -------------------------------------------------------------------------------
Collateral: Approx. [$510,000,000] of first lien, adjustable-rate home
equity mortgage loans secured primarily by one-to-four
family residences.
Coupon Step up: If the 10% Clean-Up Call is not exercised, the coupon
on the Class AV Certificates will increase by [2x] the
Class AV margin.
Available Funds Cap: Class AV is subject to an available funds
cap equal to the weighted average gross coupon less
(i) servicing fee (50 bps), (ii) trust fees (trustee
and surety fees) and (iii) a 50 bp MBIA cushion
beginning in month 8 and thereafter. Each class is
also subject to a hard cap of [14%].
Shortfall
Reimbursement: If on any payment date the adjustable-
rate certificate interest distribution
amount divided by the outstanding principal balance
of the adjustable-rate loans is less than the
pass-through rate (which is subject to a maximum rate
equal to the [14%] hard cap), the amount of such
shortfall and the aggregate of such shortfalls from
previous payment dates together with accrued interest
at the pass-through rate will be carried forward to
the next payment date until paid. No interest
carryforward will be paid once the principal balance
of the related class has been reduced to zero.
Payment Delay: 0 days.
Interest Accrual
Period: Interest will accrue from the 15th day of the
preceding month until the 14th day of the
current month. For the first accrual period,
interest will accrue from [March 15, 1998].
<PAGE>
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.
The Money Store Trust 1998-A
Servicer: The Money Store Inc.
Servicing Fee: 50 basis points per annum.
Trustee: [The Bank of New York]
Cleanup Call: The Servicer may repurchase the collateral and, as a
(All Certificate result, cause the Certificates to be called
at par plus accrued interest after the
remaining balances of the loans are less than 10% of
the Classes) sum of the i) the aggregate principal
balances of the initial Home Equity Loans (Fixed
and ARMs) and initial Home Improvement
Loans as of the cut-off date and
ii) the original Pre-Funded Amount.
Prefunding Account: Approximately [25%] of the three collateral pools will
be prefunded in aggregate. It is expected that all
prefunded collateral will be delivered by [March 31,
1998].
Form of Certificates: Book entry form, same day funds (through DTC,
CEDEL or Euroclear).
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on [April 15, 1998].
ERISA Considerations: The Certificates with ratings of
AAA/Aaa or AAA/AAA will be ERISA eligible at closing.
Taxation: REMIC.
Legal Investment: [The Class AV Certificates will be SMMEA eligible.]
Credit Enhancement: Pool II (ARMs)
------------------
1) Excess Interest
2) Overcollateralization
3) Cross-Collateralization
4) MBIA Wrap
Excess Interest: Excess interest cashflows from each group will be
available as credit enhancement for the related group.
Overcollateralization: The credit enhancement provisions of the Trust
are intended to provide for limited acceleration of the
senior Certificates relative to the amortization of the
related collateral, generally in the early months of the
transaction. The accelerated amortization is achieved by
applying certain excess interest collected on the
collateral to the payment of principal on the senior
Certificates, resulting in the buildup of
overcollateralization ("O/C"). This acceleration feature
is intended to create, with respect to each Collateral
Pool, an O/C amount resulting from, and equal to, the
excess of the aggregate principal balances of the
Collateral Pool over the principal balance of the related
Certificates. Once the required O/C level is reached,
the acceleration feature will cease, unless necessary
to maintain the required O/C level.
***All O/C Levels are preliminary and subject to change***
Pool II Certificates:
Initial: [0.00%]
Target: [5.25%] of original
Stepdown: [10.50%] of current
Floor: [0.50%] of original
Cross-Collateralization: Monthly excess spread from each of the three
collateral pools that would otherwise be released to
the Residual Class holder will be available to cover
current monthly losses in the other collateral pools.
Certificate Insurer
for Pool II: Municipal Bond Investors Assurance Corporation
("MBIA"). MBIA's claims-paying ability is rated
AAA/Aaa by Standard and Poor's and Moody's.
Certificate Insurance
for Pool II: Timely interest and eventual principal
payments on the Pool II Certificates will
be 100% guaranteed by MBIA.
<PAGE>
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.
The Money Store Trust 1998-A
Cashflow Structure:
I. Payments are applied as follows:
Pool II: CERTIFICATE CLASS AV (supported by adjustable-rate home
equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest to Class AV;
3) Interest shortfall carryforward plus interest thereon to
Class AV (if any);
4) Principal payments are applied as follows:
A) 100% to Class AV until Class AV is retired;
5) Paydown of Certificates to the required level of
Overcollateralization with the exception of an amount
described in payment priority #6, which is unavailable for
this purpose;
6) To the Residual Holder, to the extent available after covering
current monthly losses in Pool II, accrued monthly interest
based on a coupon of [0.25%] per annum on a notional principal
balance equal to the balance of the Class AV Certificates,
commencing on the first remittance date and concluding on the
[May 1999] Remittance Date;
7) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization
Prospectus: The Certificates are being offered pursuant to a Prospectus
which includes a Prospectus Supplement (together, the
"Prospectus"). Complete information with respect to the
Certificates and the Collateral is contained in the Prospectus.
The foregoing is qualified in its entirety by the information
appearing in the Prospectus. To the extent that the foregoing
is inconsistent with the Prospectus, the Prospectus shall govern
in all respects. Offers to sell and solicitations of offers to
buy the securities are made only by the Prospectus. Sales of the
Certificates may not be consummated unless the purchaser has
received the Prospectus.
<PAGE>
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.
The Money Store Trust 1998-A.
Available Funds information on Pool II Certificates:
The Certificates are subject to the following available funds cap:
Available Funds Cap = The lesser of
i) [14.0%]; and
ii) Pool II Collateral Interest - Servicing Fee - Ongoing Trust
Fees - 50 bp MBIA cushion beginning in month 8 and thereafter.
(Servicing Fee + Ongoing Trust Fees assumed to be [62.25bp])
AVAILABLE
DATE FUNDS CAP (30/360 Daycount)
- ------------------------
4/98 9.468
5/98 9.484
6/98 9.508
7/98 9.545
8/98 9.602
9/98 9.631
10/98 9.651
11/98 9.167
12/98 9.189
1/99 9.238
2/99 9.277
3/99 9.297
4/99 9.308
5/99 9.308
6/99 9.310
7/99 9.310
8/99 9.310
9/99 9.466
10/99 9.466
11/99 9.466
12/99 9.575
1/00 9.797
2/00 10.025
3/00 10.150
4/00 10.150
5/00 10.150
6/00 10.249
7/00 10.249
8/00 10.249
9/00 10.249
10/00 10.249
11/00 10.249
12/00 10.249
1/01 10.249
2/01 10.249
3/01 10.249
4/01 10.250
5/01 10.250
6/01 10.250
<PAGE>
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.
AVAILABLE
DATE FUNDS CAP (30/360 Daycount)
- ------------------------
7/01 10.250
8/01 10.250
9/01 10.250
10/01 10.250
11/01 10.250
12/01 10.250
1/02 10.250
2/02 10.250
3/02 10.420
4/02 10.849
5/02 10.849
6/02 10.849
7/02 10.849
8/02 10.849
9/02 10.849
10/02 10.849
11/02 10.849
12/02 10.849
1/03 10.849
2/03 10.849
3/03 10.849 and so on...
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>
CURRENT BALANCE: $510,000,000 DATED DATE: 3/15/98
CURRENT COUPON: TBD FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $510,000,000 YIELD TABLE DATE: 03/30/98
BOND AV DISCOUNT MARGIN ACT/360 TABLE
ASSUMED CONSTANT LIBOR-1M 5.6875
*****TO CALL******
<S> <C> <C> <C> <C> <C> <C> <C>
ARM (CPR) 26.00% 13.00% 20.00% 33.00% 39.00% 45.00% 50.00%
99-24 29.263 25.047 27.284 31.777 34.170 36.888 39.492
99-24+ 28.619 24.667 26.763 30.975 33.217 35.765 38.205
99-25 27.974 24.288 26.243 30.173 32.264 34.642 36.918
99-25+ 27.330 23.908 25.724 29.371 31.312 33.519 35.632
99-26 26.686 23.529 25.204 28.569 30.360 32.396 34.346
99-26+ 26.042 23.150 24.684 27.768 29.409 31.274 33.061
99-27 25.399 22.771 24.165 26.966 28.458 30.152 31.776
99-27+ 24.756 22.391 23.646 26.165 27.507 29.031 30.491
99-28 24.112 22.013 23.126 25.365 26.556 27.910 29.207
99-28+ 23.469 21.634 22.608 24.564 25.606 26.789 27.923
99-29 22.827 21.255 22.089 23.764 24.656 25.669 26.640
99-29+ 22.184 20.876 21.570 22.964 23.706 24.549 25.357
99-30 21.542 20.498 21.051 22.164 22.756 23.429 24.074
99-30+ 20.899 20.119 20.533 21.365 21.807 22.310 22.792
99-31 20.257 19.741 20.015 20.565 20.858 21.191 21.510
99-31+ 19.615 19.363 19.497 19.766 19.910 20.073 20.229
100-00 18.974 18.985 18.979 18.967 18.961 18.954 18.948
100-00+ 18.332 18.607 18.461 18.169 18.013 17.836 17.667
100-01 17.691 18.229 17.943 17.370 17.066 16.719 16.387
100-01+ 17.050 17.851 17.426 16.572 16.118 15.602 15.107
100-02 16.409 17.473 16.909 15.775 15.171 14.485 13.828
100-02+ 15.768 17.095 16.391 14.977 14.224 13.369 12.549
100-03 15.128 16.718 15.874 14.180 13.278 12.253 11.271
100-03+ 14.487 16.341 15.357 13.383 12.331 11.137 9.992
100-04 13.847 15.963 14.841 12.586 11.385 10.021 8.715
100-04+ 13.207 15.586 14.324 11.789 10.440 8.906 7.438
100-05 12.568 15.209 13.808 10.993 9.494 7.792 6.161
100-05+ 11.928 14.832 13.291 10.196 8.549 6.677 4.884
100-06 11.288 14.455 12.775 9.401 7.605 5.564 3.608
100-06+ 10.649 14.078 12.259 8.605 6.660 4.450 2.332
100-07 10.010 13.702 11.743 7.809 5.716 3.337 1.057
100-07+ 9.371 13.325 11.227 7.014 4.772 2.224 -0.218
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 2.761 5.122 3.524 2.164 1.793 1.499 1.294
Last Payment 8.042 11.375 9.042 7.292 6.958 6.792 6.625
Mod.Dur. @ 2.332 3.960 2.890 1.873 1.577 1.337 1.167
100-00
</TABLE>
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.
- --------------------------------------------------------------------------------
- Money Store
- Cut Off Date of Tape is 2/28/98
- Adjust. Rate Collateral
- $364,380,515.83
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 4,149
Index: 1M LIBOR, 6M LIBOR, 1Y LIBOR, 1Y CMT
Lien Status: First Lien Loans
Aggregate Unpaid Principal Balance: $364,380,515.83
Aggregate Original Principal Balance: $364,781,550.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.090%
Gross Coupon Range: 7.200% - 14.990%
Weighted Average Margin (Gross): 6.284%
Gross Margin Range: 0.000% - 10.740%
Weighted Average Life Cap (Gross): 16.356%
Gross Life Cap Range: 11.250% - 28.130%
Weighted Average Life Floor (Gross): 9.849%
Gross Life Floor Range: 3.850% - 14.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $87,823.70
Average Original Principal Balance: $87,920.35
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: $12,500.00
Weighted Avg. Rem. Term (Sched Last Pay to Mat Date): 356.462
Rem Term Range: 17.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 2.293
Age Range: 0.000 - 37.000
Weighted Average Original Term: 358.755
Original Term Range: 24.000 - 361.000
Weighted Average Original LTV: 78.437
Original LTV Range: 10.390% - 100.000%
Weighted Average Periodic Interest Cap: 1.083%
Periodic Interest Cap Range: 0.500% - 6.000%
<PAGE>
Weighted Average Initial Periodic Interest Cap: 2.630%
Initial Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Months to Interest Roll: 27.050
Months to Interest Roll Range: 1 - 50
Weighted Average Interest Roll Frequency: 6.075
Interest Frequency Range: 1 - 12
Weighted Average FICO Score: 606.199 * 152 Scores are not
Score Range: 407 - 822 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.31% Zip Code: 60103 State: IL
Latest Maturing Loan: 05/01/28
<PAGE>
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.
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
7.00% Less Than Gross Coupon Less Than Equal To 7.50% 27 3,116,919.54 0.86
7.50% Less Than Gross Coupon Less Than Equal To 7.75% 5 1,124,016.02 0.31
7.75% Less Than Gross Coupon Less Than Equal To 8.00% 35 4,355,783.93 1.20
8.00% Less Than Gross Coupon Less Than Equal To 8.25% 28 3,455,674.94 0.95
8.25% Less Than Gross Coupon Less Than Equal To 8.50% 73 8,804,975.47 2.42
8.50% Less Than Gross Coupon Less Than Equal To 8.75% 249 26,290,392.29 7.22
8.75% Less Than Gross Coupon Less Than Equal To 9.00% 214 21,296,743.64 5.84
9.00% Less Than Gross Coupon Less Than Equal To 9.25% 251 23,241,308.44 6.38
9.25% Less Than Gross Coupon Less Than Equal To 9.50% 252 26,806,842.70 7.36
9.50% Less Than Gross Coupon Less Than Equal To 9.75% 277 28,662,948.36 7.87
9.75% Less Than Gross Coupon Less Than Equal To 10.00% 426 41,493,484.92 11.39
10.00% Less Than Gross Coupon Less Than Equal To 10.25% 317 26,570,683.09 7.29
10.25% Less Than Gross Coupon Less Than Equal To 10.50% 408 34,175,569.40 9.38
10.50% Less Than Gross Coupon Less Than Equal To 10.75% 338 25,695,695.37 7.05
10.75% Less Than Gross Coupon Less Than Equal To 11.00% 313 25,969,304.46 7.13
11.00% Less Than Gross Coupon Less Than Equal To 11.25% 253 17,899,946.84 4.91
11.25% Less Than Gross Coupon Less Than Equal To 11.50% 226 15,843,918.74 4.35
11.50% Less Than Gross Coupon Less Than Equal To 11.75% 142 9,100,062.84 2.50
11.75% Less Than Gross Coupon Less Than Equal To 12.00% 123 8,589,480.18 2.36
12.00% Less Than Gross Coupon Less Than Equal To 12.25% 50 3,141,496.46 0.86
12.25% Less Than Gross Coupon Less Than Equal To 12.50% 42 2,497,832.67 0.69
12.50% Less Than Gross Coupon Less Than Equal To 12.75% 34 2,063,003.87 0.57
12.75% Less Than Gross Coupon Less Than Equal To 13.00% 32 1,839,793.58 0.50
13.00% Less Than Gross Coupon Less Than Equal To 13.25% 6 376,565.80 0.10
13.25% Less Than Gross Coupon Less Than Equal To 13.50% 9 556,668.04 0.15
13.50% Less Than Gross Coupon Less Than Equal To 13.75% 6 507,707.96 0.14
13.75% Less Than Gross Coupon Less Than Equal To 14.00% 4 237,845.60 0.07
14.00% Less Than Gross Coupon Less Than Equal To 14.25% 2 196,788.37 0.05
14.50% Less Than Gross Coupon Less Than Equal To 14.75% 4 232,892.28 0.06
14.75% Less Than Gross Coupon Less Than Equal To 15.00% 3 236,170.03 0.06
Total 4,149 $364,380,515.83 100.00%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Original Term
Percentage
of
Cut-Off
Aggregate Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
12 Less Than Orig. Term Less Than Equal To 24 1 38,404.12 0.01%
72 Less Than Orig. Term Less Than Equal To 84 13 1,103,093.11 0.30%
108 Less Than Orig. Term Less Than Equal To 120 1 93,177.12 0.03%
168 Less Than Orig. Term Less Than Equal To 180 7 631,878.58 0.17%
348 Less Than Orig. Term Less Than Equal To 360 4,126 362,484,562.90 99.48%
360 Less Than Orig. Term Less Than Equal To 372 1 29,400.00 0.01%
Total 4,149 364,380,515.83 100.00%
</TABLE>
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>
REMAINING MONTHS TO STATED MATURITY
Percentage
of
Cut-Off
Aggregate Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
12 Less Than Rem Term Less Than Equal To 24 1 38,404.12 0.01%
60 Less Than Rem Term Less Than Equal To 72 8 525,128.90 0.14%
72 Less Than Rem Term Less Than Equal To 84 5 577,964.21 0.16%
108 Less Than Rem Term Less Than Equal To 120 1 93,177.12 0.03%
156 Less Than Rem Term Less Than Equal To 168 1 87,898.31 0.02%
168 Less Than Rem Term Less Than Equal To 180 6 543,980.27 0.15%
312 Less Than Rem Term Less Than Equal To 324 2 157,918.50 0.04%
324 Less Than Rem Term Less Than Equal To 336 7 568,587.46 0.16%
336 Less Than Rem Term Less Than Equal To 348 16 2,010,729.43 0.55%
348 Less Than Rem Term Less Than Equal To 360 4,102 359,776,727.51 98.74%
Total 4,149 364,380,515.83 100.00%
AGE OF LOAN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
Age = 0 1,186 91,321,498.74 25.06%
0 Less Than Age Less Than Equal To 12 2,938 270,386,006.39 74.20%
12 Less Than Age Less Than Equal To 24 16 1,946,504.74 0.53%
24 Less Than Age Less Than Equal To 36 7 568,587.46 0.16%
36 Less Than Age Less Than Equal To 48 2 157,918.50 0.04%
Total 4,149 364,380,515.83 100.00%
</TABLE>
<PAGE>
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1994 2 $157,918.50 0.04%
1995 7 $568,587.46 0.16%
1996 11 $1,404,162.06 0.39%
1997 2117 $202,600,305.13 55.60%
1998 2012 $159,649,542.68 43.81%
Total 4149 $364,380,515.83 100.00%
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.
LOAN SUMMARY STRATIFIED BY
SCHEDULED LAST PAYMENT DATE
Percentage of
Cut-Off
Aggregate Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
3/1/98 3,978 $351,427,540.83 96.45%
4/1/98 170 12,870,475.00 3.53%
5/1/98 1 82,500.00 0.02%
Total 4,149 $364,380,515.83 100.00%
<PAGE>
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
10.00 Less Than LTV Less Than Equal To 15.00 6 $179,000.00 0.05%
15.00 Less Than LTV Less Than Equal To 20.00 7 420,763.61 0.12
20.00 Less Than LTV Less Than Equal To 25.00 13 458,457.02 0.13
25.00 Less Than LTV Less Than Equal To 30.00 20 1,315,822.66 0.36
30.00 Less Than LTV Less Than Equal To 35.00 15 844,852.77 0.23
35.00 Less Than LTV Less Than Equal To 40.00 26 1,545,979.19 0.42
40.00 Less Than LTV Less Than Equal To 45.00 53 2,787,928.94 0.77
45.00 Less Than LTV Less Than Equal To 50.00 71 4,418,980.97 1.21
50.00 Less Than LTV Less Than Equal To 55.00 83 4,957,249.37 1.36
55.00 Less Than LTV Less Than Equal To 60.00 123 8,282,021.65 2.27
60.00 Less Than LTV Less Than Equal To 65.00 208 15,407,172.91 4.23
65.00 Less Than LTV Less Than Equal To 70.00 365 27,140,176.71 7.45
70.00 Less Than LTV Less Than Equal To 75.00 501 43,102,364.76 11.83
75.00 Less Than LTV Less Than Equal To 80.00 1052 94,977,888.31 26.07
80.00 Less Than LTV Less Than Equal To 85.00 787 71,678,090.26 19.67
85.00 Less Than LTV Less Than Equal To 90.00 762 81,270,397.98 22.30
90.00 Less Than LTV Less Than Equal To 95.00 50 4,730,465.74 1.30
95.00 Less Than LTV Less Than Equal To 100.00 7 862,902.98 0.24
Total 4149 $364,380,515.83 100.00%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
DISTRIBUTION OF
MARGINS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
<S> <C> <C> <C>
Margin = 0.000 1 53,965.31 0.01%
3.500 Less Than Margin Less Than Equal To 4.000 7 871,475.61 0.24
4.000 Less Than Margin Less Than Equal To 4.500 21 2,167,214.57 0.59
4.500 Less Than Margin Less Than Equal To 5.000 209 22,398,309.03 6.15
5.000 Less Than Margin Less Than Equal To 5.500 521 47,982,360.37 13.17
5.500 Less Than Margin Less Than Equal To 6.000 623 57,620,809.54 15.81
6.000 Less Than Margin Less Than Equal To 6.500 1,436 117,635,405.58 32.28
6.500 Less Than Margin Less Than Equal To 7.000 699 60,629,677.97 16.64
7.000 Less Than Margin Less Than Equal To 7.500 263 23,886,942.31 6.56
7.500 Less Than Margin Less Than Equal To 8.000 215 18,699,164.83 5.13
8.000 Less Than Margin Less Than Equal To 8.500 79 6,255,322.07 1.72
8.500 Less Than Margin Less Than Equal To 9.000 47 3,926,530.28 1.08
9.000 Less Than Margin Less Than Equal To 9.500 19 1,571,694.66 0.43
9.500 Less Than Margin Less Than Equal To 10.000 6 469,866.26 0.13
10.000 Less Than Margin Less Than Equal To 10.500 1 71,486.68 0.02
10.500 Less Than Margin Less Than Equal To 11.000 2 140,290.76 0.04
Total 4,149 $364,380,515.83 100.00%
</TABLE>
<PAGE>
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.
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
11.000 Less Than LIFE CAP Less Than Equal To 11.500 2 157,918.50 0.04%
11.500 Less Than LIFE CAP Less Than Equal To 12.000 2 245,848.34 0.07
12.000 Less Than LIFE CAP Less Than Equal To 12.500 1 51,945.31 0.01
13.000 Less Than LIFE CAP Less Than Equal To 13.500 26 3,032,319.22 0.83
13.500 Less Than LIFE CAP Less Than Equal To 14.000 37 5,004,985.20 1.37
14.000 Less Than LIFE CAP Less Than Equal To 14.500 84 9,496,280.66 2.61
14.500 Less Than LIFE CAP Less Than Equal To 15.000 401 40,769,854.54 11.19
15.000 Less Than LIFE CAP Less Than Equal To 15.500 433 42,619,467.21 11.70
15.500 Less Than LIFE CAP Less Than Equal To 16.000 577 57,557,303.90 15.80
16.000 Less Than LIFE CAP Less Than Equal To 16.500 656 56,257,055.43 15.44
16.500 Less Than LIFE CAP Less Than Equal To 17.000 650 54,608,259.79 14.99
17.000 Less Than LIFE CAP Less Than Equal To 17.500 518 38,120,789.04 10.46
17.500 Less Than LIFE CAP Less Than Equal To 18.000 379 28,308,251.74 7.77
18.000 Less Than LIFE CAP Less Than Equal To 18.500 157 11,814,519.40 3.24
18.500 Less Than LIFE CAP Less Than Equal To 19.000 111 7,630,229.88 2.09
19.000 Less Than LIFE CAP Less Than Equal To 19.500 42 2,860,586.87 0.79
19.500 Less Than LIFE CAP Less Than Equal To 20.000 29 1,823,076.09 0.50
20.000 Less Than LIFE CAP Less Than Equal To 20.500 19 2,007,199.34 0.55
20.500 Less Than LIFE CAP Less Than Equal To 21.000 15 1,092,425.73 0.30
21.000 Less Than LIFE CAP Less Than Equal To 21.500 6 608,390.94 0.17
21.500 Less Than LIFE CAP Less Than Equal To 22.000 2 152,776.81 0.04
22.500 Less Than LIFE CAP Less Than Equal To 23.000 1 106,312.84 0.03
28.000 Less Than LIFE CAP Less Than Equal To 28.500 1 54,719.05 0.02
Total 4149 $364,380,515.83 100.00%
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 Less Than Life Floor Less Than Equal To 4.000 3 485,997.78 0.13
4.500 Less Than Life Floor Less Than Equal To 5.000 17 1,668,640.67 0.46
5.000 Less Than Life Floor Less Than Equal To 5.500 20 1,874,673.98 0.51
5.500 Less Than Life Floor Less Than Equal To 6.000 36 3,094,317.93 0.85
6.000 Less Than Life Floor Less Than Equal To 6.500 37 3,648,216.78 1.00
6.500 Less Than Life Floor Less Than Equal To 7.000 46 5,015,223.92 1.38
7.000 Less Than Life Floor Less Than Equal To 7.500 54 5,693,629.02 1.56
7.500 Less Than Life Floor Less Than Equal To 8.000 53 6,316,786.45 1.73
8.000 Less Than Life Floor Less Than Equal To 8.500 111 13,104,026.00 3.60
8.500 Less Than Life Floor Less Than Equal To 9.000 473 49,156,893.18 13.49
9.000 Less Than Life Floor Less Than Equal To 9.500 491 47,781,896.93 13.11
9.500 Less Than Life Floor Less Than Equal To 10.000 656 65,137,391.74 17.88
10.000 Less Than Life Floor Less Than Equal To 10.500 678 56,661,890.13 15.55
10.500 Less Than Life Floor Less Than Equal To 11.000 606 47,344,312.42 12.99
11.000 Less Than Life Floor Less Than Equal To 11.500 458 31,379,779.38 8.61
11.500 Less Than Life Floor Less Than Equal To 12.000 234 15,242,761.60 4.18
12.000 Less Than Life Floor Less Than Equal To 12.500 84 5,098,202.90 1.40
12.500 Less Than Life Floor Less Than Equal To 13.000 61 3,532,830.28 0.97
13.000 Less Than Life Floor Less Than Equal To 13.500 13 822,031.84 0.23
13.500 Less Than Life Floor Less Than Equal To 14.000 9 655,162.22 0.18
14.000 Less Than Life Floor Less Than Equal To 14.500 2 196,788.37 0.05
14.500 Less Than Life Floor Less Than Equal To 15.000 7 469,062.31 0.13
Total 4149 $364,380,515.83 100.00%
</TABLE>
<PAGE>
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.
NEXT INTEREST ROLLDATE DATE
Next Number of Aggregate Percentage of
Roll Mortgage Unpaid Cut-Off Date Aggregate
Date Loans Principal Balance Principal Balance
4/1/98 55 $5,401,995.80 1.48
5/1/98 73 $7,627,268.81 2.09
6/1/98 85 $10,269,041.13 2.82
7/1/98 161 $15,589,111.01 4.28
8/1/98 78 $7,721,043.83 2.12
9/1/98 66 $6,894,764.65 1.89
10/1/98 2 $284,104.07 0.08
11/1/98 5 $756,918.46 0.21
12/1/98 16 $2,117,205.18 0.58
1/1/99 5 $1,065,610.34 0.29
2/1/99 8 $836,642.68 0.23
3/1/99 10 $780,999.26 0.21
4/1/99 5 $501,887.06 0.14
5/1/99 6 $498,635.81 0.14
6/1/99 26 $2,717,256.48 0.75
7/1/99 18 $1,636,396.04 0.45
8/1/99 42 $3,370,475.24 0.92
9/1/99 83 $8,410,942.57 2.31
10/1/99 145 $13,387,846.30 3.67
11/1/99 221 $21,540,086.24 5.91
12/1/99 408 $39,927,564.66 10.96
1/1/00 455 $44,076,363.71 12.10
2/1/00 313 $28,408,793.13 7.80
3/1/00 202 $17,152,433.00 4.71
4/1/00 29 $2,523,250.00 0.69
6/1/00 1 $70,326.04 0.02
7/1/00 1 $63,463.46 0.02
8/1/00 2 $214,413.96 0.06
9/1/00 2 $128,387.47 0.04
10/1/00 4 $329,303.42 0.09
11/1/00 2 $198,887.33 0.05
12/1/00 10 $704,774.48 0.19
1/1/01 11 $1,035,941.00 0.28
2/1/01 5 $935,084.27 0.26
11/1/01 4 $281,043.51 0.08
12/1/01 2 $173,887.66 0.05
1/1/02 199 $14,513,634.48 3.98
2/1/02 441 $31,327,517.55 8.60
3/1/02 806 $60,477,490.74 16.60
4/1/02 141 $10,347,225.00 2.84
5/1/02 1 $82,500.00 0.02
Total $364,380,515.83 100.00%
4149
<PAGE>
LOAN SUMMARY STRATIFIED BY PERIODIC CAP
Percentage
Number Aggregate of Cut-Off
of Unpaid Date Aggregate
Periodic Mortgage Principal Principal
Cap Loans Balance Balance
0.500 4 161,330.87 0.04
1.000 3721 319,660,816.93 87.73
1.500 284 29,881,853.47 8.20
2.000 132 14,039,254.50 3.85
3.000 7 604,260.06 0.17
6.000 1 33,000.00 0.01
Total 4149 $364,380,515.83 100.00%
<PAGE>
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.
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
10,000 Less Than Balance Less Than Equal To 15,000 3 41,703.43 0.01
15,000 Less Than Balance Less Than Equal To 20,000 8 148,158.67 0.04
20,000 Less Than Balance Less Than Equal To 25,000 45 1,054,191.68 0.29
25,000 Less Than Balance Less Than Equal To 30,000 114 3,174,138.13 0.87
30,000 Less Than Balance Less Than Equal To 35,000 146 4,814,247.35 1.32
35,000 Less Than Balance Less Than Equal To 40,000 192 7,298,240.19 2.00
40,000 Less Than Balance Less Than Equal To 45,000 208 8,887,603.32 2.44
45,000 Less Than Balance Less Than Equal To 50,000 236 11,293,212.62 3.10
50,000 Less Than Balance Less Than Equal To 55,000 248 13,076,052.17 3.59
55,000 Less Than Balance Less Than Equal To 60,000 269 15,484,523.49 4.25
60,000 Less Than Balance Less Than Equal To 65,000 240 15,060,431.04 4.13
65,000 Less Than Balance Less Than Equal To 70,000 218 14,799,081.32 4.06
70,000 Less Than Balance Less Than Equal To 75,000 204 14,834,108.89 4.07
75,000 Less Than Balance Less Than Equal To 80,000 196 15,210,777.82 4.17
80,000 Less Than Balance Less Than Equal To 85,000 177 14,629,653.28 4.01
85,000 Less Than Balance Less Than Equal To 90,000 143 12,515,416.55 3.43
90,000 Less Than Balance Less Than Equal To 95,000 147 13,598,042.80 3.73
95,000 Less Than Balance Less Than Equal To 100,000 140 13,658,814.74 3.75
100,000 Less Than Balance Less Than Equal To 105,000 121 12,423,855.47 3.41
105,000 Less Than Balance Less Than Equal To 110,000 128 13,748,275.16 3.77
110,000 Less Than Balance Less Than Equal To 115,000 93 10,452,230.26 2.87
115,000 Less Than Balance Less Than Equal To 120,000 98 11,538,790.72 3.17
120,000 Less Than Balance Less Than Equal To 125,000 71 8,713,940.73 2.39
125,000 Less Than Balance Less Than Equal To 130,000 72 9,172,374.68 2.52
130,000 Less Than Balance Less Than Equal To 135,000 52 6,905,100.65 1.90
135,000 Less Than Balance Less Than Equal To 140,000 52 7,150,983.32 1.96
140,000 Less Than Balance Less Than Equal To 145,000 56 7,990,971.96 2.19
145,000 Less Than Balance Less Than Equal To 150,000 38 5,621,095.47 1.54
150,000 Less Than Balance Less Than Equal To 200,000 246 42,618,499.03 11.7
200,000 Less Than Balance Less Than Equal To 250,000 116 25,929,043.27 7.12
250,000 Less Than Balance Less Than Equal To 300,000 46 12,418,425.54 3.41
300,000 Less Than Balance Less Than Equal To 350,000 10 3,192,833.28 0.88
350,000 Less Than Balance Less Than Equal To 400,000 5 1,950,636.92 0.54
400,000 Less Than Balance Less Than Equal To 450,000 7 3,000,329.96 0.82
450,000 Less Than Balance Less Than Equal To 500,000 3 1,450,498.12 0.40
500,000 Less Than Balance Less Than Equal To 550,000 1 524,233.80 0.14
Total 4149 $364,380,515.83 100.00%
</TABLE>
<PAGE>
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.
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
0 Less Than Balance Less Than Equal To 5,000 1 1,184.58 0.00
10,000 Less Than Balance Less Than Equal To 15,000 3 41,703.43 0.01
15,000 Less Than Balance Less Than Equal To 20,000 8 148,158.67 0.04
20,000 Less Than Balance Less Than Equal To 25,000 45 1,054,191.68 0.29
25,000 Less Than Balance Less Than Equal To 30,000 114 3,174,138.13 0.87
30,000 Less Than Balance Less Than Equal To 35,000 147 4,848,346.35 1.33
35,000 Less Than Balance Less Than Equal To 40,000 193 7,338,223.10 2.01
40,000 Less Than Balance Less Than Equal To 45,000 207 8,847,620.41 2.43
45,000 Less Than Balance Less Than Equal To 50,000 235 11,259,113.62 3.09
50,000 Less Than Balance Less Than Equal To 55,000 249 13,130,741.99 3.60
55,000 Less Than Balance Less Than Equal To 60,000 270 15,607,062.74 4.28
60,000 Less Than Balance Less Than Equal To 65,000 238 14,943,402.71 4.10
65,000 Less Than Balance Less Than Equal To 70,000 217 14,737,696.00 4.04
70,000 Less Than Balance Less Than Equal To 75,000 205 14,905,059.53 4.09
75,000 Less Than Balance Less Than Equal To 80,000 196 15,219,717.03 4.18
80,000 Less Than Balance Less Than Equal To 85,000 177 14,633,102.33 4.02
85,000 Less Than Balance Less Than Equal To 90,000 143 12,519,975.96 3.44
90,000 Less Than Balance Less Than Equal To 95,000 146 13,510,144.49 3.71
95,000 Less Than Balance Less Than Equal To 100,000 142 13,858,611.04 3.80
100,000 Less Than Balance Less Than Equal To 105,000 120 12,327,287.85 3.38
105,000 Less Than Balance Less Than Equal To 110,000 127 13,645,046.48 3.74
110,000 Less Than Balance Less Than Equal To 115,000 95 10,682,092.33 2.93
115,000 Less Than Balance Less Than Equal To 120,000 96 11,308,928.65 3.10
120,000 Less Than Balance Less Than Equal To 125,000 71 8,713,940.73 2.39
125,000 Less Than Balance Less Than Equal To 130,000 73 9,302,364.91 2.55
130,000 Less Than Balance Less Than Equal To 135,000 51 6,775,110.42 1.86
135,000 Less Than Balance Less Than Equal To 140,000 55 7,570,631.91 2.08
140,000 Less Than Balance Less Than Equal To 145,000 53 7,571,323.37 2.08
145,000 Less Than Balance Less Than Equal To 150,000 39 5,770,465.28 1.58
150,000 Less Than Balance Less Than Equal To 200,000 245 42,469,129.22 11.66
200,000 Less Than Balance Less Than Equal To 250,000 116 25,929,043.27 7.12
250,000 Less Than Balance Less Than Equal To 300,000 46 12,418,425.54 3.41
300,000 Less Than Balance Less Than Equal To 350,000 10 3,192,833.28 0.88
350,000 Less Than Balance Less Than Equal To 400,000 5 1,950,636.92 0.54
400,000 Less Than Balance Less Than Equal To 450,000 7 3,000,329.96 0.82
450,000 Less Than Balance Less Than Equal To 500,000 3 1,450,498.12 0.40
500,000 Less Than Balance Less Than Equal To 550,000 1 524,233.80 0.14
Total 4149 $364,380,515.83 100.00%
</TABLE>
<PAGE>
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.
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 0.11
Alabama 1 52,736.61 0.01
Arkansas 4 330,450.77 0.09
Arizona 59 5,388,563.70 1.48
California 191 26,283,203.83 7.21
Colorado 76 8,219,162.20 2.26
Connecticut 40 3,853,821.16 1.06
Dist of Col 25 2,596,453.74 0.71
Delaware 10 899,891.73 0.25
Florida 191 16,045,801.89 4.40
Georgia 145 12,150,963.80 3.33
Hawaii 4 674,684.44 0.19
Iowa 24 1,420,140.72 0.39
Idaho 42 3,379,285.71 0.93
Illinois 389 39,692,806.89 10.89
Indiana 134 8,737,918.16 2.40
Kansas 26 1,397,332.22 0.38
Kentucky 66 4,116,968.98 1.13
Louisiana 30 1,995,898.27 0.55
Massachusetts 121 15,162,822.30 4.16
Maryland 77 7,994,808.94 2.19
Maine 19 1,433,222.61 0.39
Michigan 496 39,210,983.25 10.76
Minnesota 131 10,514,065.69 2.89
Missouri 125 7,918,369.26 2.17
Mississippi 18 1,114,897.58 0.31
Montana 6 308,451.15 0.08
North Carolina 145 11,061,564.68 3.04
North Dakota 1 31,640.00 0.01
Nebraska 3 173,422.54 0.05
New Hampshire 28 2,166,488.14 0.59
New Jersey 141 14,811,449.27 4.06
New Mexico 35 2,978,796.31 0.82
Nevada 37 3,631,675.87 1.00
New York 158 15,097,726.38 4.14
Ohio 265 18,906,659.25 5.19
Oklahoma 24 1,096,048.47 0.30
Oregon 53 5,132,806.80 1.41
Pennsylvania 160 12,321,237.10 3.38
Rhode Island 9 549,897.69 0.15
South Carolina 39 2,752,259.02 0.76
South Dakota 2 88,000.00 0.02
Tennessee 78 5,486,506.89 1.51
Texas 63 5,557,547.46 1.53
Utah 68 7,585,133.88 2.08
Virginia 49 5,107,753.60 1.40
Vermont 4 248,651.72 0.07
Washington 173 17,001,425.56 4.67
Wisconsin 143 10,343,955.84 2.84
West Virginia 11 572,920.22 0.16
Wyoming 5 372,665.38 0.10
Total 4149 $364,380,515.83 100.00%
<PAGE>
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.
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family 3555 310,418,301.71 85.19
Detached
2-4 Family 248 23,740,950.26 6.52
Single Wide MH 64 3,550,443.65 0.97
Double Wide MH 76 5,245,855.65 1.44
Triple Wide MH 1 119,000.00 0.03
Townhouses 28 2,436,305.00 0.67
Condominiums 95 7,983,143.26 2.19
PUD Detached 69 9,594,122.06 2.63
PUD Attached 13 1,292,394.24 0.35
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 3930 349,176,908.78 95.83
Investor 197 13,409,481.36 3.68
Vacation/Second Home 22 1,794,125.69 0.49
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY DOCUMENTATION LEVEL
Percentage of
Number of Aggregate Cut-Off Date
Mortgage Unpaid Aggregate
Loans Principal Principal
Balance Balance
Full Documentation 4149 364,380,515.83 100.00%
Total 4149 $364,380,515.83 100.00%
<PAGE>
LOAN SUMMARY STRATIFIED BY LOAN PURPOSE
Percentage of
Number of Aggregate Cut-Off Date
Mortgage Unpaid Aggregate
Loans Principal Principal
Balance Balance
Purchase 612 65,302,448.77 17.92
Refinance/No ETO 3069 273,647,373.18 75.10
Refinance/ETO 244 12,545,105.39 3.44
Debt Consolidation 224 12,885,588.49 3.54
Total 4149 $364,380,515.83 100.00%
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.
LOAN SUMMARY STRATIFIED BY COUNTY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
County Loans Balance Balance
1 YEAR CMT 30 4,350,461.25 1.19
1 YEAR LIBOR 3 339,690.93 0.09
6 MONTH LIBOR 511 52,585,502.52 14.43
2/28 6M LIBOR 1970 185,965,955.77 51.04
3/27 6M LIBOR 39 3,777,687.92 1.04
4/26 6M LIBOR 1594 117,203,298.94 32.17
3/3/1 1M 2 157,918.50 0.04
LIBOR
Total 4149 $364,380.515.83 100.00%
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Lien Loans Balance Balance
1 4149 364,380,515.83 100.00
Total 4149 $364,380,515.83 100.00%
<PAGE>
COLLATERAL GRADE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
A 806 76,843,820.64 21.09%
A- 1171 116,697,275.75 32.03
B+ 563 47,761,126.26 13.11
B 1001 80,650,936.27 22.13
B- 376 26,285,880.76 7.21
C+ 32 2,226,640.70 0.61
C 197 13,616,034.11 3.74
C- 3 298,801.34 0.08
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 4133 363,036,518.91 99.63
Partially Amortizing 16 1,343,996.92 0.37
Total 4149 $364,380,515.83 100.00%
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.
<TABLE>
<CAPTION>
FICO SCORE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Loans Principal Principal
County Balance Balance
<S> <C> <C> <C>
FICO Less Than Equal To 550 861 66,174,622.54 18.16
551 Less Than FICO Less Than Equal To 600 1109 96,886,384.29 26.59
601 Less Than FICO Less Than Equal To 650 1163 110,145,292.37 30.23
651 Less Than FICO Less Than Equal To 700 616 58,599,114.89 16.08
700 Less Than FICO 248 21,849,880.55 6.00
Unavailable FICO 152 10,725,221.19 2.94
Total 4149 $364,380,515.83 100.00%
</TABLE>
Preliminary Information for The Money Store Trust 1998-A
- The Money Store Inc.
Seller and Servicer
- The Money Store Trust 1998-A
Pool I Certificates
[$131,000,000] Class AF-1 Certificates [TBD %]
[$ 66,000,000] Class AF-2 Certificates [TBD %]
[$120,000,000] Class AF-3 Certificates [TBD %]
[$ 45,000,000] Class AF-4 Certificates [TBD %]
[$ 59,000,000] Class AF-5 Certificates [TBD %]
[$ 43,000,000] Class AF-6 Certificates [TBD %]
[$ 49,000,000] Class AF-7 Certificates [TBD %]
[$ 30,000,000] Class AF-8 Certificates [TBD %]
[$ 27,000,000] Class AF-9 Certificates [TBD %]
Pool II Certificates
[$510,000,000] Class AV Certificates 1M-LIBOR + [TBD %]
Pool III Certificates (not offered herein)
*****ONLY THE CLASS AV CERTIFICATES ARE BEING OFFERED BY MERRILL LYNCH******
Total Pool I Certificates [$570,000,000]
Total Pool II Certificates [$510,000,000]
Total Pool III Certificates [$165,000,000] (not offered herein)
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
The attached tables and other statistical analyses (the "Computational
Material") are privileged and confidential and are intended for use by the
addressee only. These Computational Materials are furnished to you solely by
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by
the issuer of the securities or any of its affiliates. The issuer of these
securities has not prepared or taken part in the preparation of these materials.
Neither Merrill Lynch, the issuer of the securities nor any of its affiliates
makes 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. They may not be provided to any
third party other than the addressee's legal, tax, financial and/or accounting
advisors for the purposes of evaluating said material.
Numerous assumptions were used in preparing the Computational Material which may
or may not be stated therein. As such, no assurance can be given as to the
accuracy, appropriateness or completeness of the Computational Materials in any
particular context; or as to whether the Computational Materials and/or the
assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment assumptions and actual prepayment experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower or
faster than the rates assumed in the attached Computational Materials.
Furthermore, unless otherwise provided, the Computational Materials assume no
losses on the underlying assets and no interest shortfall. The specific
characteristics of the securities may differ from those shown in the
Computational Materials due to differences between the actual underlying assets
and the hypothetical assets used in preparing the Computational Materials. The
principal amount and designation of any security described in the Computational
Materials are subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in this communication has been filed with the Securities
and Exchange Commission and is effective, the final prospectus supplement
relating to the securities discussed in this communication has not been filed
with the Securities and Exchange Commission. This communication shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities discussed in this communication in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus and prospectus
supplement relating to the securities discussed in this communication for
definitive Computational Materials on any matter discussed in this
communication. A final prospectus and prospectus supplement may be obtained by
contacting the Merrill Lynch Trading Desk at (212) 449-6384.
Please be advised that mortgage-backed and/or asset-backed securities may not be
appropriate for all investors. Potential investors must be willing to assume,
among other things, market price volatility, prepayments, yield curve and
interest rate risks. Investors should fully consider the risk of an investment
in these securities.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
The Money Store Trust 1998-A
Title of Securities: The Money Store Asset Backed
Certificates, Series 1998-A, Classes AF-1
through AF-9, AV, AH-1 through AH-5, MH-1,
MH-2 and BH (collectively, the
"Certificates").
Description of Transaction: This approximately [$1,245,000,000]
transaction is supported by three distinct
collateral types.
The Class AF-1 through AF-9 Certificates
(the "Pool I Certificates") are fixed-rate
bonds backed primarily by fixed-rate home
equity mortgage loans. The Pool I
Certificates are credit enhanced by a surety
wrap provided by MBIA. Certificate Class AV
(the "Pool II Certificates")
is a floating-rate bond
backed primarily by adjustable-rate home
equity mortgage loans.
The Pool II Certificates are credit
enhanced by a surety wrap provided by
MBIA. Certificate Classes AH-1 through AH-5,
MH-1, MH-2 and BH (the
"Pool III Certificates") are fixed-rate
bonds backed primarily by fixed-rate,
secured home improvement loans.
The Pool III Certificates are credit
enhanced through subordination and
overcollateralization. The
Pool III Certificates are not being offered
herein.
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
The Money Store Trust 1998-A
- -------------------------------------------------------------------------------
CERTIFICATE CLASS AV (SUPPORTED BY ADJUSTABLE-RATE
MORTGAGE LOANS)
- -------------------------------------------------------------------------------
Settlement Date: [March 30, 1998]
Dated Date: [March 15, 1998]
Prepayment Assumption: [26% CPR]--Actual prepayments may vary.
Class AV
--------------
Moody's Rating: Aaa
Standard & Poor's Rating: AAA
--------------
Approximate Size: [$510,000,000]
Avg. Life to Maturity:(app.) [2.965]
Avg. Life to Call: (app.) [2.761]
Coupon: [TBD]
Coupon Day Count: Actual/360
Expected Maturity (to maturity): [02/15/15]
Expected Maturity (to call): [04/15/06]
Stated Maturity: [06/15/29]
- -------------------------------------------------------------------------------
Collateral: Approx. [$510,000,000] of first lien, adjustable-rate home
equity mortgage loans secured primarily by one-to-four
family residences.
Coupon Step up: If the 10% Clean-Up Call is not exercised, the coupon
on the Class AV Certificates will increase by [2x] the
Class AV margin.
Available Funds Cap: Class AV is subject to an available funds
cap equal to the weighted average gross coupon less
(i) servicing fee (50 bps), (ii) trust fees (trustee
and surety fees) and (iii) a 50 bp MBIA cushion
beginning in month 8 and thereafter. Each class is
also subject to a hard cap of [14%].
Shortfall
Reimbursement: If on any payment date the adjustable-
rate certificate interest distribution
amount divided by the outstanding principal balance
of the adjustable-rate loans is less than the
pass-through rate (which is subject to a maximum rate
equal to the [14%] hard cap), the amount of such
shortfall and the aggregate of such shortfalls from
previous payment dates together with accrued interest
at the pass-through rate will be carried forward to
the next payment date until paid. No interest
carryforward will be paid once the principal balance
of the related class has been reduced to zero.
Payment Delay: 0 days.
Interest Accrual
Period: Interest will accrue from the 15th day of the
preceding month until the 14th day of the
preceding month. For the first accrual period,
interest will accrue from [March 15, 1998].
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
The Money Store Trust 1998-A
Servicer: The Money Store Inc.
Servicing Fee: 50 basis points per annum.
Trustee: [The Bank of New York for the Pool I and Pool II
Certificates.]
Co-Trustee: [First Union for the Pool III Certificates].
Cleanup Call: The Servicer may repurchase the collateral and, as a
result, cause the Certificates to be called (All
Certificate at par plus accrued interest after the
remaining balances of the loans are less than 10% of
the sum Classes) of the i) the aggregate principal
balances of the initial Home Equity Loans (Fixed
and ARMs) and initial Home Improvement
Loans as of the cut-off date and
ii) the original Pre-Funded Amount.
Prefunding Account: Approximately [25%] of the three collateral pools will
be prefunded in aggregate. It is expected that all
prefunded collateral will be delivered by [March 31,
1998].
Form of Certificates: Book entry form, same day funds (through DTC,
CEDEL or Euroclear).
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on [April 15, 1998].
ERISA Considerations: The Certificates with ratings of
AAA/Aaa or AAA/AAA will be ERISA eligible at closing.
Taxation: REMIC.
Legal Investment: [The Class AV Certificates will be SMMEA eligible. All
other certificate classes will not be SMMEA eligible.]
Credit Enhancement: Pool I (Fixed HELs) Pool II (ARMs)
------------------ -------------------
1) Excess Interest 1) Excess Interest
2) Overcollateralization 2) Overcollateralization
3) Cross-Collateralization 3) Cross-Collateralization
4) MBIA Wrap 4) MBIA Wrap
Excess Interest: Excess interest cashflows from each group will be
available as credit enhancement for the related group.
Overcollateralization: The credit enhancement provisions of the Trust
are intended to provide for limited acceleration of the
senior Certificates relative to the amortization of the
related collateral, generally in the early months of the
transaction. The accelerated amortization is achieved by
applying certain excess interest collected on the
collateral to the payment of principal on the senior
Certificates, resulting in the buildup of
overcollateralization ("O/C"). This acceleration feature
is intended to create, with respect to each Collateral
Pool, an O/C amount resulting from, and equal to, the
excess of the aggregate principal balances of the
Collateral Pool over the principal balance of the related
Certificates. Once the required O/C level is reached,
the acceleration feature will cease, unless necessary
to maintain the required O/C level.
***All O/C Levels are preliminary and subject to change***
Pool I Certificates:
Initial: [0.00%]
Target: [3.00%] of original
Stepdown: [6.00%] of current
Floor: [0.50%] of original
Pool II Certificates:
Initial: [0.00%]
Target: [5.25%] of original
Stepdown: [10.50%] of current
Floor: [0.50%] of original
Cross-Collateralization: Excess spread from each of the three collateral pools
that would otherwise be released to the Residual
Class holder will be available to cover current
monthly losses in the other collateral pools.
Certificate Insurer
for Pool I and II: Municipal Bond Investors Assurance Corporation
("MBIA"). MBIA's claims-paying ability is rated
AAA/Aaa by Standard and Poor's and Moody's.
Certificate Insurance
for Pool I and II: Timely interest and eventual principal
payments on the Pool I and Pool II Certificates will
be 100% guaranteed by MBIA.
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
The Money Store Trust 1998-A
Cashflow Structure:
I. Payments are applied as follows:
Pool II: CERTIFICATE CLASS AV (supported by adjustable-rate home
equity mortgage loans
1) Ongoing Trust Fees;
2) Accrued monthly interest to Class AV;
3) Interest shortfall carryforward plus interest thereon to
Class AV (if any);
4) Principal payments are applied as follows:
A) 100% to Class AV until Class AV is retired;
5) Paydown of Certificates to the required level of
Overcollateralization with the exception of an amount
described in payment priority #6, which is unavailable for
this purpose;
6) To the Residual Holder, to the extent available after covering
current monthly losses in Pool II, accrued monthly interest
based on a coupon of [0.25%] per annum on a notional principal
balance equal to the balance of the Class AV Certificates,
commencing on the first remittance date and concluding on the
[May 1999] Remittance Date;
7) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization
Prospectus: The Certificates are being offered pursuant to a Prospectus
which includes a Prospectus Supplement (together, the
"Prospectus"). Complete information with respect to the
Certificates and the Collateral is contained in the Prospectus.
The foregoing is qualified in its entirety by the information
appearing in the Prospectus. To the extent that the foregoing
is inconsistent with the Prospectus, the Prospectus shall govern
in all respects. Offers to sell and solicitations of offers to
buy the securities are made only by the Prospectus. Sales of the
Certificates may not be consummated unless the purchaser has
received the Prospectus.
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
Available Funds information on Pool II Certificates:
The Certificates are subject to the following available funds cap:
Available Funds Cap = The lesser of
i) [14.0%]; and
ii) Pool II Collateral Interest - Servicing Fee - Ongoing Trust
Fees - 50 bp MBIA cushion beginning in month 8 and thereafter.
(Servicing Fee + Ongoing Trust Fees assumed to be [62.25bp])
AVAILABLE
DATE FUNDS CAP (30/360 Daycount)
- ------------------------
4/98 9.468
5/98 9.484
6/98 9.508
7/98 9.545
8/98 9.602
9/98 9.631
10/98 9.651
11/98 9.167
12/98 9.189
1/99 9.238
2/99 9.277
3/99 9.297
4/99 9.308
5/99 9.308
6/99 9.310
7/99 9.310
8/99 9.310
9/99 9.466
10/99 9.466
11/99 9.466
12/99 9.575
1/00 9.797
2/00 10.025
3/00 10.150
4/00 10.150
5/00 10.150
6/00 10.249
7/00 10.249
8/00 10.249
9/00 10.249
10/00 10.249
11/00 10.249
12/00 10.249
1/01 10.249
2/01 10.249
3/01 10.249
4/01 10.250
5/01 10.250
6/01 10.250
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
AVAILABLE
DATE FUNDS CAP (30/360 Daycount)
- ------------------------
7/01 10.250
8/01 10.250
9/01 10.250
10/01 10.250
11/01 10.250
12/01 10.250
1/02 10.250
2/02 10.250
3/02 10.420
4/02 10.849
5/02 10.849
6/02 10.849
7/02 10.849
8/02 10.849
9/02 10.849
10/02 10.849
11/02 10.849
12/02 10.849
1/03 10.849
2/03 10.849
3/03 10.849 and so on...
<PAGE>
<TABLE>
<CAPTION>
BOND AV *****TO CALL******
CURRENT BALANCE: $510,000,000 DATED DATE: 3/15/98 CURRENT COUPON: TBD
FIRST PAYMENT: 04/15/98 FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $510,000,000 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 03/30/98
ASSUMED CONSTANT LIBOR-1M 5.6875
<S> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 13.00% 20.00% 33.00% 39.00% 45.00% 50.00%
FIX: 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 29.263 25.047 27.284 31.777 34.170 36.888 39.492
99-24+ 28.619 24.667 26.763 30.975 33.217 35.765 38.205
99-25 27.974 24.288 26.243 30.173 32.264 34.642 36.918
99-25+ 27.330 23.908 25.724 29.371 31.312 33.519 35.632
99-26 26.686 23.529 25.204 28.569 30.360 32.396 34.346
99-26+ 26.042 23.150 24.684 27.768 29.409 31.274 33.061
99-27 25.399 22.771 24.165 26.966 28.458 30.152 31.776
99-27+ 24.756 22.391 23.646 26.165 27.507 29.031 30.491
99-28 24.112 22.013 23.126 25.365 26.556 27.910 29.207
99-28+ 23.469 21.634 22.608 24.564 25.606 26.789 27.923
99-29 22.827 21.255 22.089 23.764 24.656 25.669 26.640
99-29+ 22.184 20.876 21.570 22.964 23.706 24.549 25.357
99-30 21.542 20.498 21.051 22.164 22.756 23.429 24.074
99-30+ 20.899 20.119 20.533 21.365 21.807 22.310 22.792
99-31 20.257 19.741 20.015 20.565 20.858 21.191 21.510
99-31+ 19.615 19.363 19.497 19.766 19.910 20.073 20.229
100-00 18.974 18.985 18.979 18.967 18.961 18.954 18.948
100-00+ 18.332 18.607 18.461 18.169 18.013 17.836 17.667
100-01 17.691 18.229 17.943 17.370 17.066 16.719 16.387
100-01+ 17.050 17.851 17.426 16.572 16.118 15.602 15.107
100-02 16.409 17.473 16.909 15.775 15.171 14.485 13.828
100-02+ 15.768 17.095 16.391 14.977 14.224 13.369 12.549
100-03 15.128 16.718 15.874 14.180 13.278 12.253 11.271
100-03+ 14.487 16.341 15.357 13.383 12.331 11.137 9.992
100-04 13.847 15.963 14.841 12.586 11.385 10.021 8.715
100-04+ 13.207 15.586 14.324 11.789 10.440 8.906 7.438
100-05 12.568 15.209 13.808 10.993 9.494 7.792 6.161
100-05+ 11.928 14.832 13.291 10.196 8.549 6.677 4.884
100-06 11.288 14.455 12.775 9.401 7.605 5.564 3.608
100-06+ 10.649 14.078 12.259 8.605 6.660 4.450 2.332
100-07 10.010 13.702 11.743 7.809 5.716 3.337 1.057
100-07+ 9.371 13.325 11.227 7.014 4.772 2.224 -0.218
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 2.761 5.122 3.524 2.164 1.793 1.499 1.294
Last Payment 8.042 11.375 9.042 7.292 6.958 6.792 6.625
Mod.Dur. @ 2.332 3.960 2.890 1.873 1.577 1.337 1.167
100-00
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
- --------------------------------------------------------------------------------
- Money Store - MON8A
- Statistical Cut Off Date of Tape is 2/28/98
- Adjust. Rate Collateral
- $364,380,515.83
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 4,149
Index: 1M LIBOR, 6M LIBOR, 1Y LIBOR, 1Y CMT
Lien Status: First Lien Loans
Aggregate Unpaid Principal Balance: $364,380,515.83
Aggregate Original Principal Balance: $364,781,550.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 10.090%
Gross Coupon Range: 7.200% - 14.990%
Weighted Average Margin (Gross): 6.284%
Gross Margin Range: 0.000% - 10.740%
Weighted Average Life Cap (Gross): 16.356%
Gross Life Cap Range: 11.250% - 28.130%
Weighted Average Life Floor (Gross): 9.849%
Gross Life Floor Range: 3.850% - 14.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $87,823.70
Average Original Principal Balance: $87,920.35
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: $12,500.00
Weighted Avg. Rem. Term (Sched Last Pay to Mat Date): 356.462
Rem Term Range: 17.000 - 360.000
Weighted Average Age (First Pay thru Paid Thru): 2.293
Age Range: 0.000 - 37.000
Weighted Average Original Term: 358.755
Original Term Range: 24.000 - 361.000
Weighted Average Original LTV: 78.437
Original LTV Range: 10.390% - 100.000%
Weighted Average Periodic Interest Cap: 1.083%
Periodic Interest Cap Range: 0.500% - 6.000%
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
Weighted Average Initial Periodic Interest Cap: 2.630%
Initial Periodic Interest Cap Range: 0.500% - 6.000%
Weighted Average Months to Interest Roll: 27.050
Months to Interest Roll Range: 1 - 50
Weighted Average Interest Roll Frequency: 6.075
Interest Frequency Range: 1 - 12
Weighted Average FICO Score: 606.199 * 152 Scores are not
Score Range: 407 - 822 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.31% Zip Code: 60103 State: IL
Latest Maturing Loan: 05/01/28
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
Gross Coupon
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
7.00% Less Than Gross Coupon Less Than Equal To 7.50% 27 3,116,919.54 0.86
7.50% Less Than Gross Coupon Less Than Equal To 7.75% 5 1,124,016.02 0.31
7.75% Less Than Gross Coupon Less Than Equal To 8.00% 35 4,355,783.93 1.20
8.00% Less Than Gross Coupon Less Than Equal To 8.25% 28 3,455,674.94 0.95
8.25% Less Than Gross Coupon Less Than Equal To 8.50% 73 8,804,975.47 2.42
8.50% Less Than Gross Coupon Less Than Equal To 8.75% 249 26,290,392.29 7.22
8.75% Less Than Gross Coupon Less Than Equal To 9.00% 214 21,296,743.64 5.84
9.00% Less Than Gross Coupon Less Than Equal To 9.25% 251 23,241,308.44 6.38
9.25% Less Than Gross Coupon Less Than Equal To 9.50% 252 26,806,842.70 7.36
9.50% Less Than Gross Coupon Less Than Equal To 9.75% 277 28,662,948.36 7.87
9.75% Less Than Gross Coupon Less Than Equal To 10.00% 426 41,493,484.92 11.39
10.00% Less Than Gross Coupon Less Than Equal To 10.25% 317 26,570,683.09 7.29
10.25% Less Than Gross Coupon Less Than Equal To 10.50% 408 34,175,569.40 9.38
10.50% Less Than Gross Coupon Less Than Equal To 10.75% 338 25,695,695.37 7.05
10.75% Less Than Gross Coupon Less Than Equal To 11.00% 313 25,969,304.46 7.13
11.00% Less Than Gross Coupon Less Than Equal To 11.25% 253 17,899,946.84 4.91
11.25% Less Than Gross Coupon Less Than Equal To 11.50% 226 15,843,918.74 4.35
11.50% Less Than Gross Coupon Less Than Equal To 11.75% 142 9,100,062.84 2.50
11.75% Less Than Gross Coupon Less Than Equal To 12.00% 123 8,589,480.18 2.36
12.00% Less Than Gross Coupon Less Than Equal To 12.25% 50 3,141,496.46 0.86
12.25% Less Than Gross Coupon Less Than Equal To 12.50% 42 2,497,832.67 0.69
12.50% Less Than Gross Coupon Less Than Equal To 12.75% 34 2,063,003.87 0.57
12.75% Less Than Gross Coupon Less Than Equal To 13.00% 32 1,839,793.58 0.50
13.00% Less Than Gross Coupon Less Than Equal To 13.25% 6 376,565.80 0.10
13.25% Less Than Gross Coupon Less Than Equal To 13.50% 9 556,668.04 0.15
13.50% Less Than Gross Coupon Less Than Equal To 13.75% 6 507,707.96 0.14
13.75% Less Than Gross Coupon Less Than Equal To 14.00% 4 237,845.60 0.07
14.00% Less Than Gross Coupon Less Than Equal To 14.25% 2 196,788.37 0.05
14.50% Less Than Gross Coupon Less Than Equal To 14.75% 4 232,892.28 0.06
14.75% Less Than Gross Coupon Less Than Equal To 15.00% 3 236,170.03 0.06
Total 4,149 $364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
Original Term
Percentage
of
Cut-Off
Aggregate Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
12 Less Than Orig. Term Less Than Equal To 24 1 38,404.12 0.01%
72 Less Than Orig. Term Less Than Equal To 84 13 1,103,093.11 0.30%
108 Less Than Orig. Term Less Than Equal To 120 1 93,177.12 0.03%
168 Less Than Orig. Term Less Than Equal To 180 7 631,878.58 0.17%
348 Less Than Orig. Term Less Than Equal To 360 4,126 362,484,562.90 99.48%
360 Less Than Orig. Term Less Than Equal To 372 1 29,400.00 0.01%
Total 4,149 364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
REMAINING MONTHS TO STATED MATURITY
Percentage
of
Cut-Off
Aggregate Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
12 Less Than Rem Term Less Than Equal To 24 1 38,404.12 0.01%
60 Less Than Rem Term Less Than Equal To 72 8 525,128.90 0.14%
72 Less Than Rem Term Less Than Equal To 84 5 577,964.21 0.16%
108 Less Than Rem Term Less Than Equal To 120 1 93,177.12 0.03%
156 Less Than Rem Term Less Than Equal To 168 1 87,898.31 0.02%
168 Less Than Rem Term Less Than Equal To 180 6 543,980.27 0.15%
312 Less Than Rem Term Less Than Equal To 324 2 157,918.50 0.04%
324 Less Than Rem Term Less Than Equal To 336 7 568,587.46 0.16%
336 Less Than Rem Term Less Than Equal To 348 16 2,010,729.43 0.55%
348 Less Than Rem Term Less Than Equal To 360 4,102 359,776,727.51 98.74%
Total 4,149 364,380,515.83 100.00%
AGE OF LOAN
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
Age = 0 1,186 91,321,498.74 25.06%
0 Less Than Age Less Than Equal To 12 2,938 270,386,006.39 74.20%
12 Less Than Age Less Than Equal To 24 16 1,946,504.74 0.53%
24 Less Than Age Less Than Equal To 36 7 568,587.46 0.16%
36 Less Than Age Less Than Equal To 48 2 157,918.50 0.04%
Total 4,149 364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
YEARS OF ORIGINATION
Percentage of
Aggregate Cut-Off Date
Number Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
1994 2 $157,918.50 0.04%
1995 7 $568,587.46 0.16%
1996 11 $1,404,162.06 0.39%
1997 2117 $202,600,305.13 55.60%
1998 2012 $159,649,542.68 43.80%
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY
SCHEDULED LAST PAYMENT DATE
Percentage of
Cut-Off
Aggregate Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
3/1/98 3,978 $351,427,540.83 96.45%
4/1/98 170 12,870,475.00 3.53%
5/1/98 1 82,500.00 0.02%
Total 4,149 $364,380,515.83 100.00%
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
10.00 Less Than LTV Less Than Equal To 15.00 6 $179,000.00 0.05%
15.00 Less Than LTV Less Than Equal To 20.00 7 420,763.61 0.12
20.00 Less Than LTV Less Than Equal To 25.00 13 458,457.02 0.13
25.00 Less Than LTV Less Than Equal To 30.00 20 1,315,822.66 0.36
30.00 Less Than LTV Less Than Equal To 35.00 15 844,852.77 0.23
35.00 Less Than LTV Less Than Equal To 40.00 26 1,545,979.19 0.42
40.00 Less Than LTV Less Than Equal To 45.00 53 2,787,928.94 0.77
45.00 Less Than LTV Less Than Equal To 50.00 71 4,418,980.97 1.21
50.00 Less Than LTV Less Than Equal To 55.00 83 4,957,249.37 1.36
55.00 Less Than LTV Less Than Equal To 60.00 123 8,282,021.65 2.27
60.00 Less Than LTV Less Than Equal To 65.00 208 15,407,172.91 4.23
65.00 Less Than LTV Less Than Equal To 70.00 365 27,140,176.71 7.45
70.00 Less Than LTV Less Than Equal To 75.00 501 43,102,364.76 11.83
75.00 Less Than LTV Less Than Equal To 80.00 1052 94,977,888.31 26.07
80.00 Less Than LTV Less Than Equal To 85.00 787 71,678,090.26 19.67
85.00 Less Than LTV Less Than Equal To 90.00 762 81,270,397.98 22.30
90.00 Less Than LTV Less Than Equal To 95.00 50 4,730,465.74 1.30
95.00 Less Than LTV Less Than Equal To 100.00 7 862,902.98 0.24
Total 4149 $364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
DISTRIBUTION OF
MARGINS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
<S> <C> <C> <C>
Margin = 0.000 1 53,965.31 0.01%
3.500 Less Than Margin Less Than Equal To 4.000 7 871,475.61 0.24
4.000 Less Than Margin Less Than Equal To 4.500 21 2,167,214.57 0.59
4.500 Less Than Margin Less Than Equal To 5.000 209 22,398,309.03 6.15
5.000 Less Than Margin Less Than Equal To 5.500 521 47,982,360.37 13.17
5.500 Less Than Margin Less Than Equal To 6.000 623 57,620,809.54 15.81
6.000 Less Than Margin Less Than Equal To 6.500 1,436 117,635,405.58 32.28
6.500 Less Than Margin Less Than Equal To 7.000 699 60,629,677.97 16.64
7.000 Less Than Margin Less Than Equal To 7.500 263 23,886,942.31 6.56
7.500 Less Than Margin Less Than Equal To 8.000 215 18,699,164.83 5.13
8.000 Less Than Margin Less Than Equal To 8.500 79 6,255,322.07 1.72
8.500 Less Than Margin Less Than Equal To 9.000 47 3,926,530.28 1.08
9.000 Less Than Margin Less Than Equal To 9.500 19 1,571,694.66 0.43
9.500 Less Than Margin Less Than Equal To 10.000 6 469,866.26 0.13
10.000 Less Than Margin Less Than Equal To 10.500 1 71,486.68 0.02
10.500 Less Than Margin Less Than Equal To 11.000 2 140,290.76 0.04
Total 4,149 $364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
11.000 Less Than LIFE CAP Less Than Equal To 11.500 2 157,918.50 0.04%
11.500 Less Than LIFE CAP Less Than Equal To 12.000 2 245,848.34 0.07
12.000 Less Than LIFE CAP Less Than Equal To 12.500 1 51,945.31 0.01
13.000 Less Than LIFE CAP Less Than Equal To 13.500 26 3,032,319.22 0.83
13.500 Less Than LIFE CAP Less Than Equal To 14.000 37 5,004,985.20 1.37
14.000 Less Than LIFE CAP Less Than Equal To 14.500 84 9,496,280.66 2.61
14.500 Less Than LIFE CAP Less Than Equal To 15.000 401 40,769,854.54 11.19
15.000 Less Than LIFE CAP Less Than Equal To 15.500 433 42,619,467.21 11.70
15.500 Less Than LIFE CAP Less Than Equal To 16.000 577 57,557,303.90 15.80
16.000 Less Than LIFE CAP Less Than Equal To 16.500 656 56,257,055.43 15.44
16.500 Less Than LIFE CAP Less Than Equal To 17.000 650 54,608,259.79 14.99
17.000 Less Than LIFE CAP Less Than Equal To 17.500 518 38,120,789.04 10.46
17.500 Less Than LIFE CAP Less Than Equal To 18.000 379 28,308,251.74 7.77
18.000 Less Than LIFE CAP Less Than Equal To 18.500 157 11,814,519.40 3.24
18.500 Less Than LIFE CAP Less Than Equal To 19.000 111 7,630,229.88 2.09
19.000 Less Than LIFE CAP Less Than Equal To 19.500 42 2,860,586.87 0.79
19.500 Less Than LIFE CAP Less Than Equal To 20.000 29 1,823,076.09 0.50
20.000 Less Than LIFE CAP Less Than Equal To 20.500 19 2,007,199.34 0.55
20.500 Less Than LIFE CAP Less Than Equal To 21.000 15 1,092,425.73 0.30
21.000 Less Than LIFE CAP Less Than Equal To 21.500 6 608,390.94 0.17
21.500 Less Than LIFE CAP Less Than Equal To 22.000 2 152,776.81 0.04
22.500 Less Than LIFE CAP Less Than Equal To 23.000 1 106,312.84 0.03
28.000 Less Than LIFE CAP Less Than Equal To 28.500 1 54,719.05 0.02
Total 4149 $364,380,515.83 100.00%
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 Less Than Life Floor Less Than Equal To 4.000 3 485,997.78 0.13
4.500 Less Than Life Floor Less Than Equal To 5.000 17 1,668,640.67 0.46
5.000 Less Than Life Floor Less Than Equal To 5.500 20 1,874,673.98 0.51
5.500 Less Than Life Floor Less Than Equal To 6.000 36 3,094,317.93 0.85
6.000 Less Than Life Floor Less Than Equal To 6.500 37 3,648,216.78 1.00
6.500 Less Than Life Floor Less Than Equal To 7.000 46 5,015,223.92 1.38
7.000 Less Than Life Floor Less Than Equal To 7.500 54 5,693,629.02 1.56
7.500 Less Than Life Floor Less Than Equal To 8.000 53 6,316,786.45 1.73
8.000 Less Than Life Floor Less Than Equal To 8.500 111 13,104,026.00 3.60
8.500 Less Than Life Floor Less Than Equal To 9.000 473 49,156,893.18 13.49
9.000 Less Than Life Floor Less Than Equal To 9.500 491 47,781,896.93 13.11
9.500 Less Than Life Floor Less Than Equal To 10.000 656 65,137,391.74 17.88
10.000 Less Than Life Floor Less Than Equal To 10.500 678 56,661,890.13 15.55
10.500 Less Than Life Floor Less Than Equal To 11.000 606 47,344,312.42 12.99
11.000 Less Than Life Floor Less Than Equal To 11.500 458 31,379,779.38 8.61
11.500 Less Than Life Floor Less Than Equal To 12.000 234 15,242,761.60 4.18
12.000 Less Than Life Floor Less Than Equal To 12.500 84 5,098,202.90 1.40
12.500 Less Than Life Floor Less Than Equal To 13.000 61 3,532,830.28 0.97
13.000 Less Than Life Floor Less Than Equal To 13.500 13 822,031.84 0.23
13.500 Less Than Life Floor Less Than Equal To 14.000 9 655,162.22 0.18
14.000 Less Than Life Floor Less Than Equal To 14.500 2 196,788.37 0.05
14.500 Less Than Life Floor Less Than Equal To 15.000 7 469,062.31 0.13
Total 4149 $364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
NEXT INTEREST ROLLDATE DATE
Next Number of Aggregate Percentage of
Roll Mortgage Unpaid Cut-Off Date Aggregate
Date Loans Principal Balance Principal Balance
4/1/98 55 $5,401,995.80 1.48
5/1/98 73 $7,627,268.81 2.09
6/1/98 85 $10,269,041.13 2.82
7/1/98 161 $15,589,111.01 4.28
8/1/98 78 $7,721,043.83 2.12
9/1/98 66 $6,894,764.65 1.89
10/1/98 2 $284,104.07 0.08
11/1/98 5 $756,918.46 0.21
12/1/98 16 $2,117,205.18 0.58
1/1/99 5 $1,065,610.34 0.29
2/1/99 8 $836,642.68 0.23
3/1/99 10 $780,999.26 0.21
4/1/99 5 $501,887.06 0.14
5/1/99 6 $498,635.81 0.14
6/1/99 26 $2,717,256.48 0.75
7/1/99 18 $1,636,396.04 0.45
8/1/99 42 $3,370,475.24 0.92
9/1/99 83 $8,410,942.57 2.31
10/1/99 145 $13,387,846.30 3.67
11/1/99 221 $21,540,086.24 5.91
12/1/99 408 $39,927,564.66 10.96
1/1/00 455 $44,076,363.71 12.10
2/1/00 313 $28,408,793.13 7.80
3/1/00 202 $17,152,433.00 4.71
4/1/00 29 $2,523,250.00 0.69
6/1/00 1 $70,326.04 0.02
7/1/00 1 $63,463.46 0.02
8/1/00 2 $214,413.96 0.06
9/1/00 2 $128,387.47 0.04
10/1/00 4 $329,303.42 0.09
11/1/00 2 $198,887.33 0.05
12/1/00 10 $704,774.48 0.19
1/1/01 11 $1,035,941.00 0.28
2/1/01 5 $935,084.27 0.26
11/1/01 4 $281,043.51 0.08
12/1/01 2 $173,887.66 0.05
1/1/02 199 $14,513,634.48 3.98
2/1/02 441 $31,327,517.55 8.60
3/1/02 806 $60,477,490.74 16.60
4/1/02 141 $10,347,225.00 2.84
5/1/02 1 $82,500.00 0.02
Total $364,380,515.83 100.00%
4149
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
LOAN SUMMARY STRATIFIED BY PERIODIC CAP
Percentage
Number Aggregate of Cut-Off
of Unpaid Date Aggregate
Periodic Mortgage Principal Principal
Cap Loans Balance Balance
0.500 4 161,330.87 0.04
1.000 3721 319,660,816.93 87.73
1.500 284 29,881,853.47 8.20
2.000 132 14,039,254.50 3.85
3.000 7 604,260.06 0.17
6.000 1 33,000.00 0.01
Total 4149 $364,380,515.83 100.00%
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
10,000 Less Than Balance Less Than Equal To 15,000 3 41,703.43 0.01
15,000 Less Than Balance Less Than Equal To 20,000 8 148,158.67 0.04
20,000 Less Than Balance Less Than Equal To 25,000 45 1,054,191.68 0.29
25,000 Less Than Balance Less Than Equal To 30,000 114 3,174,138.13 0.87
30,000 Less Than Balance Less Than Equal To 35,000 146 4,814,247.35 1.32
35,000 Less Than Balance Less Than Equal To 40,000 192 7,298,240.19 2.00
40,000 Less Than Balance Less Than Equal To 45,000 208 8,887,603.32 2.44
45,000 Less Than Balance Less Than Equal To 50,000 236 11,293,212.62 3.10
50,000 Less Than Balance Less Than Equal To 55,000 248 13,076,052.17 3.59
55,000 Less Than Balance Less Than Equal To 60,000 269 15,484,523.49 4.25
60,000 Less Than Balance Less Than Equal To 65,000 240 15,060,431.04 4.13
65,000 Less Than Balance Less Than Equal To 70,000 218 14,799,081.32 4.06
70,000 Less Than Balance Less Than Equal To 75,000 204 14,834,108.89 4.07
75,000 Less Than Balance Less Than Equal To 80,000 196 15,210,777.82 4.17
80,000 Less Than Balance Less Than Equal To 85,000 177 14,629,653.28 4.01
85,000 Less Than Balance Less Than Equal To 90,000 143 12,515,416.55 3.43
90,000 Less Than Balance Less Than Equal To 95,000 147 13,598,042.80 3.73
95,000 Less Than Balance Less Than Equal To 100,000 140 13,658,814.74 3.75
100,000 Less Than Balance Less Than Equal To 105,000 121 12,423,855.47 3.41
105,000 Less Than Balance Less Than Equal To 110,000 128 13,748,275.16 3.77
110,000 Less Than Balance Less Than Equal To 115,000 93 10,452,230.26 2.87
115,000 Less Than Balance Less Than Equal To 120,000 98 11,538,790.72 3.17
120,000 Less Than Balance Less Than Equal To 125,000 71 8,713,940.73 2.39
125,000 Less Than Balance Less Than Equal To 130,000 72 9,172,374.68 2.52
130,000 Less Than Balance Less Than Equal To 135,000 52 6,905,100.65 1.90
135,000 Less Than Balance Less Than Equal To 140,000 52 7,150,983.32 1.96
140,000 Less Than Balance Less Than Equal To 145,000 56 7,990,971.96 2.19
145,000 Less Than Balance Less Than Equal To 150,000 38 5,621,095.47 1.54
150,000 Less Than Balance Less Than Equal To 200,000 246 42,618,499.03 11.7
200,000 Less Than Balance Less Than Equal To 250,000 116 25,929,043.27 7.12
250,000 Less Than Balance Less Than Equal To 300,000 46 12,418,425.54 3.41
300,000 Less Than Balance Less Than Equal To 350,000 10 3,192,833.28 0.88
350,000 Less Than Balance Less Than Equal To 400,000 5 1,950,636.92 0.54
400,000 Less Than Balance Less Than Equal To 450,000 7 3,000,329.96 0.82
450,000 Less Than Balance Less Than Equal To 500,000 3 1,450,498.12 0.40
500,000 Less Than Balance Less Than Equal To 550,000 1 524,233.80 0.14
Total 4149 $364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
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
<S> <C> <C> <C>
0 Less Than Balance Less Than Equal To 5,000 1 1,184.58 0.00
10,000 Less Than Balance Less Than Equal To 15,000 3 41,703.43 0.01
15,000 Less Than Balance Less Than Equal To 20,000 8 148,158.67 0.04
20,000 Less Than Balance Less Than Equal To 25,000 45 1,054,191.68 0.29
25,000 Less Than Balance Less Than Equal To 30,000 114 3,174,138.13 0.87
30,000 Less Than Balance Less Than Equal To 35,000 147 4,848,346.35 1.33
35,000 Less Than Balance Less Than Equal To 40,000 193 7,338,223.10 2.01
40,000 Less Than Balance Less Than Equal To 45,000 207 8,847,620.41 2.43
45,000 Less Than Balance Less Than Equal To 50,000 235 11,259,113.62 3.09
50,000 Less Than Balance Less Than Equal To 55,000 249 13,130,741.99 3.60
55,000 Less Than Balance Less Than Equal To 60,000 270 15,607,062.74 4.28
60,000 Less Than Balance Less Than Equal To 65,000 238 14,943,402.71 4.10
65,000 Less Than Balance Less Than Equal To 70,000 217 14,737,696.00 4.04
70,000 Less Than Balance Less Than Equal To 75,000 205 14,905,059.53 4.09
75,000 Less Than Balance Less Than Equal To 80,000 196 15,219,717.03 4.18
80,000 Less Than Balance Less Than Equal To 85,000 177 14,633,102.33 4.02
85,000 Less Than Balance Less Than Equal To 90,000 143 12,519,975.96 3.44
90,000 Less Than Balance Less Than Equal To 95,000 146 13,510,144.49 3.71
95,000 Less Than Balance Less Than Equal To 100,000 142 13,858,611.04 3.80
100,000 Less Than Balance Less Than Equal To 105,000 120 12,327,287.85 3.38
105,000 Less Than Balance Less Than Equal To 110,000 127 13,645,046.48 3.74
110,000 Less Than Balance Less Than Equal To 115,000 95 10,682,092.33 2.93
115,000 Less Than Balance Less Than Equal To 120,000 96 11,308,928.65 3.10
120,000 Less Than Balance Less Than Equal To 125,000 71 8,713,940.73 2.39
125,000 Less Than Balance Less Than Equal To 130,000 73 9,302,364.91 2.55
130,000 Less Than Balance Less Than Equal To 135,000 51 6,775,110.42 1.86
135,000 Less Than Balance Less Than Equal To 140,000 55 7,570,631.91 2.08
140,000 Less Than Balance Less Than Equal To 145,000 53 7,571,323.37 2.08
145,000 Less Than Balance Less Than Equal To 150,000 39 5,770,465.28 1.58
150,000 Less Than Balance Less Than Equal To 200,000 245 42,469,129.22 11.66
200,000 Less Than Balance Less Than Equal To 250,000 116 25,929,043.27 7.12
250,000 Less Than Balance Less Than Equal To 300,000 46 12,418,425.54 3.41
300,000 Less Than Balance Less Than Equal To 350,000 10 3,192,833.28 0.88
350,000 Less Than Balance Less Than Equal To 400,000 5 1,950,636.92 0.54
400,000 Less Than Balance Less Than Equal To 450,000 7 3,000,329.96 0.82
450,000 Less Than Balance Less Than Equal To 500,000 3 1,450,498.12 0.40
500,000 Less Than Balance Less Than Equal To 550,000 1 524,233.80 0.14
Total 4149 $364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<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 0.11
Alabama 1 52,736.61 0.01
Arkansas 4 330,450.77 0.09
Arizona 59 5,388,563.70 1.48
California 191 26,283,203.83 7.21
Colorado 76 8,219,162.20 2.26
Connecticut 40 3,853,821.16 1.06
Dist of Col 25 2,596,453.74 0.71
Delaware 10 899,891.73 0.25
Florida 191 16,045,801.89 4.40
Georgia 145 12,150,963.80 3.33
Hawaii 4 674,684.44 0.19
Iowa 24 1,420,140.72 0.39
Idaho 42 3,379,285.71 0.93
Illinois 389 39,692,806.89 10.89
Indiana 134 8,737,918.16 2.40
Kansas 26 1,397,332.22 0.38
Kentucky 66 4,116,968.98 1.13
Louisiana 30 1,995,898.27 0.55
Massachusetts 121 15,162,822.30 4.16
Maryland 77 7,994,808.94 2.19
Maine 19 1,433,222.61 0.39
Michigan 496 39,210,983.25 10.76
Minnesota 131 10,514,065.69 2.89
Missouri 125 7,918,369.26 2.17
Mississippi 18 1,114,897.58 0.31
Montana 6 308,451.15 0.08
North Carolina 145 11,061,564.68 3.04
North Dakota 1 31,640.00 0.01
Nebraska 3 173,422.54 0.05
New Hampshire 28 2,166,488.14 0.59
New Jersey 141 14,811,449.27 4.06
New Mexico 35 2,978,796.31 0.82
Nevada 37 3,631,675.87 1.00
New York 158 15,097,726.38 4.14
Ohio 265 18,906,659.25 5.19
Oklahoma 24 1,096,048.47 0.30
Oregon 53 5,132,806.80 1.41
Pennsylvania 160 12,321,237.10 3.38
Rhode Island 9 549,897.69 0.15
South Carolina 39 2,752,259.02 0.76
South Dakota 2 88,000.00 0.02
Tennessee 78 5,486,506.89 1.51
Texas 63 5,557,547.46 1.53
Utah 68 7,585,133.88 2.08
Virginia 49 5,107,753.60 1.40
Vermont 4 248,651.72 0.07
Washington 173 17,001,425.56 4.67
Wisconsin 143 10,343,955.84 2.84
West Virginia 11 572,920.22 0.16
Wyoming 5 372,665.38 0.10
Total 4149 $364,380,515.83 100.00%
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family 3555 310,418,301.71 85.19
Detached
2-4 Family 248 23,740,950.26 6.52
Single Wide MH 64 3,550,443.65 0.97
Double Wide MH 76 5,245,855.65 1.44
Triple Wide MH 1 119,000.00 0.03
Townhouses 28 2,436,305.00 0.67
Condominiums 95 7,983,143.26 2.19
PUD Detached 69 9,594,122.06 2.63
PUD Attached 13 1,292,394.24 0.35
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Owner Occ. 3930 349,176,908.78 95.83
Investor 197 13,409,481.36 3.68
Vacation/Second Home 22 1,794,125.69 0.49
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY DOCUMENTATION LEVEL
Percentage of
Number of Aggregate Cut-Off Date
Mortgage Unpaid Aggregate
Loans Principal Principal
Balance Balance
Full Documentation 4149 364,380,515.83 100.00%
Total 4149 $364,380,515.83 100.00%
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
LOAN SUMMARY STRATIFIED BY LOAN PURPOSE
Percentage of
Number of Aggregate Cut-Off Date
Mortgage Unpaid Aggregate
Loans Principal Principal
Balance Balance
Purchase 612 65,302,448.77 17.92
Refinance/No ETO 3069 273,647,373.18 75.10
Refinance/ETO 244 12,545,105.39 3.44
Debt Consolidation 224 12,885,588.49 3.54
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY COUNTY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
County Loans Balance Balance
1 YEAR CMT 30 4,350,461.25 1.19
1 YEAR LIBOR 3 339,690.93 0.09
6 MONTH LIBOR 511 52,585,502.52 14.43
2/28 6M LIBOR 1970 185,965,955.77 51.04
3/27 6M LIBOR 39 3,777,687.92 1.04
4/26 6M LIBOR 1594 117,203,298.94 32.17
3/3/1 1M 2 157,918.50 0.04
LIBOR
Total 4149 $364,380.51 100.00%
LIEN SUMMARY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Lien Loans Balance Balance
1 4149 364,380,515.83 100.00
Total 4149 $364,380,515.83 100.00%
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
COLLATERAL GRADE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
A 806 76,843,820.64 21.09%
A- 1171 116,697,275.75 32.03
B+ 563 47,761,126.26 13.11
B 1001 80,650,936.27 22.13
B- 376 26,285,880.76 7.21
C+ 32 2,226,640.70 0.61
C 197 13,616,034.11 3.74
C- 3 298,801.34 0.08
Total 4149 $364,380,515.83 100.00%
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
County Loans Balance Balance
Fully Amortizing 4133 363,036,518.91 99.63
Partially Amortizing 16 1,343,996.92 0.37
Total 4149 $364,380,515.83 100.00%
<TABLE>
<CAPTION>
FICO SCORE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
County Loans Balance Balance
<S> <C> <C> <C>
FICO Less Than Equal To 550 861 66,174,622.54 18.16
551 Less Than FICO Less Than Equal To 600 1109 96,886,384.29 26.59
601 Less Than FICO Less Than Equal To 650 1163 110,145,292.37 30.23
651 Less Than FICO Less Than Equal To 700 616 58,599,114.89 16.08
700 Less Than FICO 248 21,849,880.55 6.00
Unavailable FICO 152 10,725,221.19 2.94
Total 4149 $364,380,515.83 100.00%
</TABLE>
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
Exhibit 99.8
FIRST CHICAGO
CAPITAL MARKETS, INC.
THE FIRST NATIONAL BANK OF CHICAGO/NBD
ONE FIRST NATIONAL PLAZA
CHICAGO, ILLINOIS 60670
Preliminary Information for The Money Store Trust 1998-A
- The Money Store Inc.
Seller and Servicer
- The Money Store Trust 1998-A
Pool I Certificates
[$131,000,000] Class AF-1 Certificates [TBD %]
[$ 66,000,000] Class AF-2 Certificates [TBD %]
[$120,000,000] Class AF-3 Certificates [TBD %]
[$ 45,000,000] Class AF-4 Certificates [TBD %]
[$ 59,000,000] Class AF-5 Certificates [TBD %]
[$ 43,000,000] Class AF-6 Certificates [TBD %]
[$ 49,000,000] Class AF-7 Certificates [TBD %]
[$ 30,000,000] Class AF-8 Certificates [TBD %]
[$ 27,000,000] Class AF-9 Certificates [TBD %]
Pool II Certificates
[$510,000,000] Class AV Certificates 1M-LIBOR + [TBD %]
Pool III Certificates (not offered herein)
Total Pool I Certificates [$570,000,000]
Total Pool II Certificates [$510,000,000]
Total Pool III Certificates [$165,000,000] (not offered herein)
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
The Money Store Trust 1998-A
Title of The Money Store Asset Backed Certificates, Series 1998-A,
Securities: Classes AF-1 through AF-9, AV, AH-1 through AH-5, MH-1, MH-2
and BH (collectively, the "Certificates").
Description of This approximately [$1,245,000,000] transaction is supported
Transaction: by three distinct collateral types.
The Class AF-1 through AF-9 Certificates (the "Pool I
Certificates") are fixed-rate bonds backed primarily by
fixed-rate home equity mortgage loans. The Pool I
Certificates are credit enhanced by a surety wrap provided
by MBIA.
Certificate Class AV (the "Pool II Certificates") is a
floating-rate bond backed primarily by adjustable-rate home
equity mortgage loans. The Pool II Certificates are credit
enhanced by a surety wrap provided by MBIA.
Certificate Classes AH-1 through AH-5, MH-1, MH-2 and BH
(the "Pool III Certificates") are fixed-rate bonds backed
primarily by fixed-rate, secured home improvement loans. The
Pool III Certificates are credit enhanced through
subordination and overcollateralization. The Pool III
Certificates are not being offered herein.
- -------------------------------------------------------------------------------
CERTIFICATE CLASSES AF-1 THROUGH AF-9 (SUPPORTED BY FIXED-RATE MORTGAGE LOANS)
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Settlement Date: [March 30, 1998]
Dated Date: [March 1, 1998]
Prepayment Assumption: [24% HEP]--Actual prepayments may vary.
Class AF-1 Class AF-2 Class AF-3 Class AF-4
----------------------------------------------------------------
<S> <C> <C> <C> <C>
Moody's Rating: Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA
----------------------------------------------------------------
Approximate Size: [$131,000,000] [$66,000,000] [$120,000,000] [$45,000,000]
Avg. Life to Maturity: (app.) [0.511] [1.202] [2.057] [3.051]
Avg. Life to Call: (app.) [0.511] [1.202] [2.057] [3.051]
Coupon: [TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Expected Maturity (to call): [03/15/99] [09/15/99] [12/15/00] [09/15/01]
Stated Maturity: [12/15/07] [03/15/12] [09/15/16] [03/15/20]
</TABLE>
<TABLE>
<CAPTION>
Class AF-5 Class AF-6 Class AF-7 Class AF-8 Class AF-9
----------------------------------------------------------------------------
Moody's Rating: Aaa Aaa Aaa Aaa Aaa
Standard & Poor's Rating: AAA AAA AAA AAA AAA
----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Approximate Size: [$59,000,000] [$43,000,000] [$49,000,000] [$30,000,000] [$27,000,000]
Avg. Life to Maturity: (app.) [4.041] [5.539] [10.252] [4.991] [7.925]
Avg. Life to Call: (app.) [4.041] [5.539] [7.868] [4.991] [7.598]
Coupon: [TBD TBD TBD TBD TBD ]
Coupon Day Count 30/360 30/360 30/360 30/360 30/360
Expected Maturity (to maturity): [12/15/02] [11/15/04] [06/15/14] [12/15/04] [06/15/12]
Expected Maturity (to call): [12/15/02] [11/15/04] [04/15/06] [12/15/04] [04/15/06]
Stated Maturity: [12/15/23] [12/15/25] [04/15/39] [05/15/10] [04/15/39]
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
Collateral: Approx. [$570,000,000] of first and second lien, fixed-rate
mortgage loans secured primarily by one-to-four family
residences.
Payment Delay: 14 days.
Interest Accrual Interest will accrue from the 1st day of the preceeding
Period: month until the 30th day of the preceeding month.
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
The Money Store Trust 1998-A
Servicer: The Money Store Inc.
Servicing Fee: 50 basis points per annum.
Trustee: [The Bank of New York for the Pool I and Pool II
Certificates.]
Co-Trustee: [First Union for the Pool III Certificates].
Cleanup Call: The Servicer may repurchase the collateral and, as a
(All Certificate result, cause the Certificates to be called at par plus
Classes) accrued interest after the remaining balances of the
loans are less than 10% of the sum of the i) the
aggregate principal balances of the initial Home Equity
Loans (Fixed and ARMs) and initial Home Improvement
Loans as of the cut-off date and ii) the original
Pre-Funded Amount.
Prefunding Account: Approximately [25%] of the three collateral pools will
be prefunded in aggregate. It is expected that all
prefunded collateral will be delivered by [March 31,
1998].
Form of Certificates: Book entry form, same day funds (through DTC, CEDEL or
Euroclear).
Payment Date: The 15th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on [April 15, 1998].
ERISA
Considerations: The Certificates with ratings of AAA/Aaa or AAA/AAA
will be ERISA eligible at closing.
Taxation: REMIC.
Legal Investment: [The Class AV Certificates will be SMMEA eligible. All
other certificate classes will not be SMMEA eligible.]
Credit Enhancement: Pool I (Fixed HELs) Pool II (ARMs)
------------------- --------------
1) Excess Interest 1) Excess Interest
2) Overcollateralization 2) Overcollateralization
3) Cross-Collateralization 3) Cross-Collateralization
4) MBIA Wrap 4) MBIA Wrap
Excess Interest: Excess interest cashflows from each group will be
available as credit enhancement for the related group.
Overcollateralization: The credit enhancement provisions of the Trust are
intended to provide for limited acceleration of the
senior Certificates relative to the amortization of the
related collateral, generally in the early months of
the transaction. The accelerated amortization is
achieved by applying certain excess interest collected
on the collateral to the payment of principal on the
senior Certificates, resulting in the buildup of
overcollateralization ("O/C"). This acceleration
feature is intended to create, with respect to each
Collateral Pool, an O/C amount resulting from, and
equal to, the excess of the aggregate principal
balances of the Collateral Pool over the principal
balance of the related Certificates. Once the required
O/C level is reached, the acceleration feature will
cease, unless necessary to maintain the required O/C
level.
***All O/C Levels are preliminary and subject to
change***
Pool I Certificates:
Initial: [0.00%] Target: [3.00%] of original
Stepdown: [6.00%] of current Floor: [0.50%] of original
Pool II Certificates:
Initial: [0.00%] Target: [5.25%] of original
Stepdown: [10.50%] of current Floor: [0.50%] of original
Cross- Monthly excess spread from each of the three collateral
Collateralization: pools that would otherwise be released to the Residual
Class holder will be available to cover current monthly
losses in the other collateral pools.
Certificate Insurer Municipal Bond Investors Assurance Corporation
for Pool I and II: ("MBIA"). MBIA's claims-paying ability is rated AAA/Aaa
by Standard and Poor's and Moody's.
Certificate Insurance Timely interest and eventual principal payments on the
for Pool I and II: Pool I and Pool II Certificates will be 100% guaranteed
by MBIA.
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
The Money Store Trust 1998-A
Cashflow Structure:
I. Payments are applied as follows:
Pool I: CERTIFICATE CLASSES AF-1 THROUGH AF-9 (supported by fixed-rate
home equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest without priority;
3) Principal payments are applied as follows:
A) to the Class AF-8 and then to the Class AF-9,
sequentially in that order, until the principal balance
of each such Class is retired, an amount equal to the
NAS Principal Distribution Amount (as described below)
B) to the Class AF-1, Class AF-2, Class AF-3, Class AF-4,
Class AF-5, Class AF-6, Class AF-7, Class AF-8 and
Class AF-9 Certificates, sequentially in that order,
until each such class is retired.
The NAS Principal Distribution Amount for any
remittance date will be the product of:
(i) the applicable NAS Principal Percentage (as
described below) and
(ii) the NAS Pro Rata Principal Distribution Amount (as
described below), where
NAS Principal
Remittance Dates Percentage
---------------- ----------
April 1998 - March 2001 0%
April 2001 - March 2003 45%
April 2003 - March 2004 80%
April 2004 - March 2005 100%
April 2005 and thereafter 300%
The NAS Pro Rata Principal Distribution Amount for any
payment date is the product of:
(x) a fraction, the numerator of which is the sum of the
Class AF-8 and Class AF-9 principal balances
immediately prior to such payment date and the
denominator of which is the principal balance of the
Pool I Certificates immediately prior to such payment
date; and
(y) the principal remittance amount for Pool I on such
payment date.
4) To the Residual Holder, to the extent available after
covering current monthly losses in Pool I, accrued monthly
interest based on a coupon of [2.50%] per annum on a
notional principal balance equal to the combined balance of
the Class AF-8 and Class AF-9 Certificates, commencing on
the first remittance date and concluding on the [May 1999]
Remittance Date;
5) Paydown of Certificates to the required level of
Overcollateralization;
6) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Pool II: CERTIFICATE CLASS AV (supported by adjustable-rate home
equity mortgage loans)
1) Ongoing Trust Fees;
2) Accrued monthly interest to Class AV;
3) Interest shortfall carryforward plus interest thereon to
Class AV (if any);
4) Principal payments are applied as follows:
A) 100% to Class AV until Class AV is retired;
5) Paydown of Certificates to the required level of
Overcollateralization with the exception of an amount
described in payment priority #6, which is unavailable for
this purpose;
6) To the Residual Holder, to the extent available after
covering current monthly losses in Pool II, accrued monthly
interest based on a coupon of [0.25%] per annum on a
notional principal balance equal to the balance of the Class
AV Certificates, commencing on the first remittance date and
concluding on the [May 1999] Remittance Date;
7) Any excess cash flow reverts to the Residual Holder if not
required for Cross-collateralization.
Prospectus: The Certificates are being offered pursuant to a Prospectus which
includes a Prospectus Supplement (together, the "Prospectus").
Complete information with respect to the Certificates and the
Collateral is contained in the Prospectus. The foregoing is
qualified in its entirety by the information appearing in the
Prospectus. To the extent that the foregoing is inconsistent with
the Prospectus, the Prospectus shall govern in all respects.
Offers to sell and solicitations of offers to buy the securities
are made only by the Prospectus. Sales of the Certificates may
not be consumated unless the purchaser has received the
Prospectus.
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $131,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $131,000,000.00 BOND AF-1 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.469 6.468 6.468 6.468 6.469 6.469 6.469 6.469
99-24+ 6.436 6.442 6.440 6.438 6.435 6.433 6.432 6.430
99-25 6.404 6.415 6.411 6.408 6.401 6.398 6.395 6.391
99-25+ 6.372 6.389 6.383 6.377 6.367 6.362 6.357 6.352
99-26 6.340 6.362 6.354 6.347 6.333 6.326 6.320 6.313
99-26+ 6.308 6.336 6.326 6.317 6.300 6.291 6.283 6.274
99-27 6.276 6.309 6.298 6.287 6.266 6.255 6.246 6.235
99-27+ 6.244 6.283 6.269 6.256 6.232 6.220 6.208 6.196
99-28 6.212 6.256 6.241 6.226 6.198 6.184 6.171 6.157
99-28+ 6.180 6.230 6.212 6.196 6.164 6.149 6.134 6.118
99-29 6.148 6.203 6.184 6.166 6.131 6.113 6.097 6.079
99-29+ 6.116 6.177 6.156 6.135 6.097 6.078 6.060 6.041
99-30 6.084 6.150 6.127 6.105 6.063 6.042 6.023 6.002
99-30+ 6.052 6.124 6.099 6.075 6.030 6.007 5.985 5.963
99-31 6.020 6.098 6.071 6.045 5.996 5.971 5.948 5.924
99-31+ 5.988 6.071 6.042 6.015 5.962 5.936 5.911 5.885
100-00 5.956 6.045 6.014 5.984 5.929 5.900 5.874 5.846
100-00+ 5.924 6.018 5.986 5.954 5.895 5.865 5.837 5.808
100-01 5.892 5.992 5.957 5.924 5.861 5.830 5.800 5.769
100-01+ 5.860 5.966 5.929 5.894 5.828 5.794 5.763 5.730
100-02 5.828 5.939 5.901 5.864 5.794 5.759 5.726 5.691
100-02+ 5.797 5.913 5.873 5.834 5.760 5.723 5.689 5.652
100-03 5.765 5.887 5.844 5.804 5.727 5.688 5.652 5.614
100-03+ 5.733 5.860 5.816 5.773 5.693 5.653 5.615 5.575
100-04 5.701 5.834 5.788 5.743 5.660 5.617 5.578 5.536
100-04+ 5.669 5.808 5.760 5.713 5.626 5.582 5.541 5.498
100-05 5.637 5.782 5.731 5.683 5.592 5.547 5.504 5.459
100-05+ 5.606 5.755 5.703 5.653 5.559 5.511 5.467 5.420
100-06 5.574 5.729 5.675 5.623 5.525 5.476 5.430 5.382
100-06+ 5.542 5.703 5.647 5.593 5.492 5.441 5.394 5.343
100-07 5.510 5.676 5.619 5.563 5.458 5.406 5.357 5.304
100-07+ 5.478 5.650 5.590 5.533 5.425 5.370 5.320 5.266
First Payment 0.042 0.042 0.042 0.042 0.042 0.042 0.042 0.042
Average Life 0.511 0.622 0.578 0.542 0.484 0.460 0.439 0.419
Last Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Mod.Dur. @ 100-00 0.487 0.589 0.549 0.515 0.462 0.439 0.419 0.401
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $66,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $66,000,000.00 BOND AF-2 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.268 6.267 6.267 6.268 6.269 6.270 6.270 6.271
99-24+ 6.255 6.256 6.255 6.255 6.254 6.254 6.253 6.253
99-25 6.241 6.245 6.243 6.242 6.239 6.238 6.237 6.235
99-25+ 6.227 6.234 6.232 6.229 6.224 6.222 6.220 6.218
99-26 6.213 6.223 6.220 6.216 6.210 6.206 6.203 6.200
99-26+ 6.199 6.212 6.208 6.203 6.195 6.191 6.186 6.182
99-27 6.185 6.201 6.196 6.191 6.180 6.175 6.170 6.165
99-27+ 6.171 6.190 6.184 6.178 6.165 6.159 6.153 6.147
99-28 6.157 6.179 6.172 6.165 6.150 6.143 6.136 6.130
99-28+ 6.144 6.169 6.160 6.152 6.135 6.128 6.119 6.112
99-29 6.130 6.158 6.148 6.139 6.121 6.112 6.103 6.094
99-29+ 6.116 6.147 6.136 6.126 6.106 6.096 6.086 6.077
99-30 6.102 6.136 6.125 6.113 6.091 6.080 6.069 6.059
99-30+ 6.088 6.125 6.113 6.100 6.076 6.064 6.053 6.042
99-31 6.074 6.114 6.101 6.088 6.061 6.049 6.036 6.024
99-31+ 6.061 6.103 6.089 6.075 6.046 6.033 6.019 6.006
100-00 6.047 6.092 6.077 6.062 6.032 6.017 6.003 5.989
100-00+ 6.033 6.082 6.065 6.049 6.017 6.002 5.986 5.971
100-01 6.019 6.071 6.053 6.036 6.002 5.986 5.969 5.954
100-01+ 6.005 6.060 6.042 6.023 5.987 5.970 5.952 5.936
100-02 5.991 6.049 6.030 6.011 5.973 5.954 5.936 5.919
100-02+ 5.978 6.038 6.018 5.998 5.958 5.939 5.919 5.901
100-03 5.964 6.027 6.006 5.985 5.943 5.923 5.902 5.884
100-03+ 5.950 6.016 5.994 5.972 5.928 5.907 5.886 5.866
100-04 5.936 6.006 5.982 5.959 5.913 5.891 5.869 5.848
100-04+ 5.922 5.995 5.971 5.946 5.899 5.876 5.852 5.831
100-05 5.909 5.984 5.959 5.934 5.884 5.860 5.836 5.813
100-05+ 5.895 5.973 5.947 5.921 5.869 5.844 5.819 5.796
100-06 5.881 5.962 5.935 5.908 5.854 5.829 5.803 5.778
100-06+ 5.867 5.951 5.923 5.895 5.840 5.813 5.786 5.761
100-07 5.853 5.941 5.911 5.882 5.825 5.797 5.769 5.743
100-07+ 5.840 5.930 5.900 5.870 5.810 5.782 5.753 5.726
First Payment 0.958 1.208 1.125 1.042 0.875 0.875 0.792 0.792
Average Life 1.202 1.547 1.412 1.298 1.120 1.051 0.989 0.938
Last Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Mod.Dur. @ 100-00 1.124 1.431 1.311 1.210 1.050 0.988 0.931 0.885
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $120,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $120,000,000.00 BOND AF-3 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.255 6.254 6.254 6.255 6.255 6.256 6.256 6.257
99-24+ 6.247 6.247 6.247 6.247 6.246 6.246 6.246 6.246
99-25 6.238 6.241 6.240 6.239 6.238 6.237 6.236 6.235
99-25+ 6.230 6.234 6.233 6.232 6.229 6.227 6.226 6.224
99-26 6.222 6.228 6.226 6.224 6.220 6.217 6.215 6.213
99-26+ 6.213 6.222 6.219 6.216 6.211 6.208 6.205 6.202
99-27 6.205 6.215 6.212 6.208 6.202 6.198 6.195 6.191
99-27+ 6.197 6.209 6.205 6.201 6.193 6.189 6.185 6.181
99-28 6.188 6.202 6.198 6.193 6.184 6.179 6.174 6.170
99-28+ 6.180 6.196 6.190 6.185 6.175 6.170 6.164 6.159
99-29 6.172 6.189 6.183 6.178 6.166 6.160 6.154 6.148
99-29+ 6.163 6.183 6.176 6.170 6.157 6.150 6.144 6.137
99-30 6.155 6.176 6.169 6.162 6.148 6.141 6.134 6.126
99-30+ 6.147 6.170 6.162 6.154 6.139 6.131 6.123 6.116
99-31 6.139 6.163 6.155 6.147 6.130 6.122 6.113 6.105
99-31+ 6.130 6.157 6.148 6.139 6.121 6.112 6.103 6.094
100-00 6.122 6.150 6.141 6.131 6.112 6.103 6.093 6.083
100-00+ 6.114 6.144 6.134 6.124 6.103 6.093 6.083 6.072
100-01 6.105 6.137 6.127 6.116 6.094 6.084 6.073 6.061
100-01+ 6.097 6.131 6.120 6.108 6.085 6.074 6.062 6.051
100-02 6.089 6.125 6.113 6.101 6.077 6.064 6.052 6.040
100-02+ 6.080 6.118 6.105 6.093 6.068 6.055 6.042 6.029
100-03 6.072 6.112 6.098 6.085 6.059 6.045 6.032 6.018
100-03+ 6.064 6.105 6.091 6.078 6.050 6.036 6.022 6.007
100-04 6.056 6.099 6.084 6.070 6.041 6.026 6.011 5.997
100-04+ 6.047 6.092 6.077 6.062 6.032 6.017 6.001 5.986
100-05 6.039 6.086 6.070 6.055 6.023 6.007 5.991 5.975
100-05+ 6.031 6.079 6.063 6.047 6.014 5.998 5.981 5.964
100-06 6.022 6.073 6.056 6.039 6.005 5.988 5.971 5.953
100-06+ 6.014 6.067 6.049 6.032 5.996 5.979 5.961 5.943
100-07 6.006 6.060 6.042 6.024 5.987 5.969 5.950 5.932
100-07+ 5.997 6.054 6.035 6.016 5.978 5.959 5.940 5.921
First Payment 1.458 1.875 1.708 1.625 1.375 1.292 1.208 1.125
Average Life 2.057 2.699 2.444 2.234 1.904 1.772 1.656 1.554
Last Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Mod.Dur. @ 100-00 1.872 2.407 2.197 2.022 1.741 1.627 1.526 1.436
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $45,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $45,000,000.00 BOND AF-4 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.329 6.329 6.329 6.329 6.330 6.330 6.330 6.330
99-24+ 6.324 6.324 6.324 6.324 6.323 6.323 6.323 6.322
99-25 6.318 6.320 6.319 6.318 6.317 6.316 6.316 6.315
99-25+ 6.312 6.315 6.314 6.313 6.311 6.310 6.308 6.307
99-26 6.306 6.311 6.309 6.308 6.305 6.303 6.301 6.300
99-26+ 6.300 6.307 6.305 6.303 6.298 6.296 6.294 6.292
99-27 6.295 6.302 6.300 6.297 6.292 6.290 6.287 6.284
99-27+ 6.289 6.298 6.295 6.292 6.286 6.283 6.280 6.277
99-28 6.283 6.293 6.290 6.287 6.280 6.276 6.273 6.269
99-28+ 6.277 6.289 6.285 6.281 6.273 6.269 6.265 6.261
99-29 6.272 6.284 6.280 6.276 6.267 6.263 6.258 6.254
99-29+ 6.266 6.280 6.275 6.271 6.261 6.256 6.251 6.246
99-30 6.260 6.276 6.271 6.265 6.255 6.249 6.244 6.238
99-30+ 6.254 6.271 6.266 6.260 6.249 6.243 6.237 6.231
99-31 6.248 6.267 6.261 6.255 6.242 6.236 6.230 6.223
99-31+ 6.243 6.262 6.256 6.249 6.236 6.229 6.223 6.215
100-00 6.237 6.258 6.251 6.244 6.230 6.223 6.215 6.208
100-00+ 6.231 6.253 6.246 6.239 6.224 6.216 6.208 6.200
100-01 6.225 6.249 6.241 6.233 6.217 6.209 6.201 6.192
100-01+ 6.220 6.245 6.237 6.228 6.211 6.203 6.194 6.185
100-02 6.214 6.240 6.232 6.223 6.205 6.196 6.187 6.177
100-02+ 6.208 6.236 6.227 6.217 6.199 6.189 6.180 6.170
100-03 6.202 6.231 6.222 6.212 6.193 6.183 6.172 6.162
100-03+ 6.197 6.227 6.217 6.207 6.186 6.176 6.165 6.154
100-04 6.191 6.223 6.212 6.202 6.180 6.169 6.158 6.147
100-04+ 6.185 6.218 6.207 6.196 6.174 6.163 6.151 6.139
100-05 6.179 6.214 6.203 6.191 6.168 6.156 6.144 6.131
100-05+ 6.173 6.209 6.198 6.186 6.161 6.149 6.137 6.124
100-06 6.168 6.205 6.193 6.180 6.155 6.143 6.130 6.116
100-06+ 6.162 6.200 6.188 6.175 6.149 6.136 6.123 6.109
100-07 6.156 6.196 6.183 6.170 6.143 6.129 6.115 6.101
100-07+ 6.150 6.192 6.178 6.164 6.137 6.123 6.108 6.093
First Payment 2.708 3.625 3.292 2.958 2.542 2.292 2.208 2.042
Average Life 3.051 4.111 3.695 3.344 2.810 2.601 2.415 2.249
Last Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Mod.Dur. @ 100-00 2.694 3.515 3.200 2.927 2.499 2.328 2.174 2.035
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $59,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $59,000,000.00 BOND AF-5 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.481 6.481 6.481 6.481 6.481 6.481 6.481 6.481
99-24+ 6.477 6.478 6.477 6.477 6.476 6.476 6.475 6.475
99-25 6.472 6.474 6.473 6.473 6.471 6.471 6.470 6.469
99-25+ 6.468 6.471 6.470 6.469 6.466 6.465 6.464 6.463
99-26 6.463 6.467 6.466 6.464 6.462 6.460 6.459 6.457
99-26+ 6.458 6.464 6.462 6.460 6.457 6.455 6.453 6.451
99-27 6.454 6.460 6.458 6.456 6.452 6.450 6.447 6.445
99-27+ 6.449 6.457 6.454 6.452 6.447 6.444 6.442 6.439
99-28 6.445 6.453 6.451 6.448 6.442 6.439 6.436 6.433
99-28+ 6.440 6.450 6.447 6.444 6.437 6.434 6.430 6.427
99-29 6.436 6.446 6.443 6.439 6.432 6.428 6.425 6.421
99-29+ 6.431 6.443 6.439 6.435 6.427 6.423 6.419 6.415
99-30 6.427 6.439 6.435 6.431 6.423 6.418 6.413 6.409
99-30+ 6.422 6.436 6.431 6.427 6.418 6.413 6.408 6.403
99-31 6.418 6.432 6.428 6.423 6.413 6.407 6.402 6.397
99-31+ 6.413 6.429 6.424 6.419 6.408 6.402 6.396 6.390
100-00 6.409 6.425 6.420 6.414 6.403 6.397 6.391 6.384
100-00+ 6.404 6.422 6.416 6.410 6.398 6.392 6.385 6.378
100-01 6.400 6.419 6.412 6.406 6.393 6.386 6.379 6.372
100-01+ 6.395 6.415 6.409 6.402 6.388 6.381 6.374 6.366
100-02 6.391 6.412 6.405 6.398 6.384 6.376 6.368 6.360
100-02+ 6.386 6.408 6.401 6.394 6.379 6.371 6.362 6.354
100-03 6.382 6.405 6.397 6.390 6.374 6.365 6.357 6.348
100-03+ 6.377 6.401 6.393 6.385 6.369 6.360 6.351 6.342
100-04 6.373 6.398 6.390 6.381 6.364 6.355 6.346 6.336
100-04+ 6.368 6.394 6.386 6.377 6.359 6.350 6.340 6.330
100-05 6.364 6.391 6.382 6.373 6.354 6.344 6.334 6.324
100-05+ 6.359 6.387 6.378 6.369 6.349 6.339 6.329 6.318
100-06 6.355 6.384 6.374 6.365 6.345 6.334 6.323 6.312
100-06+ 6.350 6.381 6.371 6.361 6.340 6.329 6.317 6.306
100-07 6.346 6.377 6.367 6.356 6.335 6.323 6.312 6.300
100-07+ 6.341 6.374 6.363 6.352 6.330 6.318 6.306 6.294
First Payment 3.458 4.625 4.125 3.792 3.125 2.875 2.708 2.458
Average Life 4.041 5.496 4.914 4.438 3.697 3.397 3.138 2.913
Last Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Mod.Dur. @ 100-00 3.449 4.486 4.083 3.742 3.189 2.957 2.754 2.575
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $43,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $43,000,000.00 BOND AF-6 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.598 6.598 6.598 6.598 6.598 6.598 6.598 6.598
99-24+ 6.595 6.596 6.595 6.595 6.594 6.594 6.594 6.593
99-25 6.591 6.593 6.593 6.592 6.591 6.590 6.589 6.589
99-25+ 6.588 6.591 6.590 6.589 6.587 6.586 6.585 6.584
99-26 6.584 6.588 6.587 6.586 6.583 6.582 6.580 6.579
99-26+ 6.581 6.586 6.584 6.582 6.579 6.578 6.576 6.574
99-27 6.577 6.583 6.581 6.579 6.576 6.574 6.572 6.570
99-27+ 6.574 6.581 6.579 6.576 6.572 6.570 6.567 6.565
99-28 6.570 6.578 6.576 6.573 6.568 6.566 6.563 6.560
99-28+ 6.567 6.576 6.573 6.570 6.564 6.561 6.559 6.556
99-29 6.564 6.573 6.570 6.567 6.560 6.557 6.554 6.551
99-29+ 6.560 6.571 6.567 6.564 6.557 6.553 6.550 6.546
99-30 6.557 6.568 6.565 6.560 6.553 6.549 6.546 6.542
99-30+ 6.553 6.566 6.562 6.557 6.549 6.545 6.541 6.537
99-31 6.550 6.563 6.559 6.554 6.545 6.541 6.537 6.532
99-31+ 6.546 6.561 6.556 6.551 6.542 6.537 6.533 6.528
100-00 6.543 6.558 6.553 6.548 6.538 6.533 6.528 6.523
100-00+ 6.539 6.556 6.551 6.545 6.534 6.529 6.524 6.518
100-01 6.536 6.553 6.548 6.542 6.530 6.525 6.520 6.514
100-01+ 6.532 6.551 6.545 6.539 6.527 6.521 6.515 6.509
100-02 6.529 6.548 6.542 6.535 6.523 6.517 6.511 6.504
100-02+ 6.526 6.546 6.539 6.532 6.519 6.513 6.506 6.500
100-03 6.522 6.543 6.537 6.529 6.515 6.509 6.502 6.495
100-03+ 6.519 6.541 6.534 6.526 6.512 6.505 6.498 6.491
100-04 6.515 6.538 6.531 6.523 6.508 6.501 6.493 6.486
100-04+ 6.512 6.536 6.528 6.520 6.504 6.497 6.489 6.481
100-05 6.508 6.533 6.525 6.517 6.501 6.493 6.485 6.477
100-05+ 6.505 6.531 6.523 6.513 6.497 6.489 6.480 6.472
100-06 6.501 6.528 6.520 6.510 6.493 6.485 6.476 6.467
100-06+ 6.498 6.526 6.517 6.507 6.489 6.481 6.472 6.463
100-07 6.495 6.523 6.514 6.504 6.486 6.476 6.467 6.458
100-07+ 6.491 6.521 6.511 6.501 6.482 6.472 6.463 6.453
First Payment 4.708 6.542 5.875 5.208 4.375 3.958 3.708 3.375
Average Life 5.539 8.353 7.194 6.230 5.019 4.584 4.219 3.897
Last Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Mod.Dur. @ 100-00 4.501 6.222 5.547 4.952 4.144 3.837 3.572 3.333
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 7.013 7.013 7.013 7.013 7.012 7.012 7.012 7.012
99-24+ 7.010 7.011 7.011 7.011 7.010 7.010 7.009 7.008
99-25 7.008 7.009 7.009 7.009 7.008 7.007 7.006 7.005
99-25+ 7.006 7.008 7.007 7.007 7.005 7.004 7.003 7.002
99-26 7.004 7.006 7.005 7.005 7.003 7.002 7.001 6.999
99-26+ 7.002 7.004 7.003 7.002 7.000 6.999 6.998 6.996
99-27 6.999 7.002 7.001 7.000 6.998 6.997 6.995 6.993
99-27+ 6.997 7.000 6.999 6.998 6.996 6.994 6.992 6.990
99-28 6.995 6.998 6.997 6.996 6.993 6.991 6.989 6.987
99-28+ 6.993 6.996 6.995 6.994 6.991 6.989 6.986 6.984
99-29 6.990 6.995 6.993 6.992 6.988 6.986 6.984 6.981
99-29+ 6.988 6.993 6.991 6.990 6.986 6.984 6.981 6.978
99-30 6.986 6.991 6.990 6.988 6.984 6.981 6.978 6.975
99-30+ 6.984 6.989 6.988 6.986 6.981 6.978 6.975 6.972
99-31 6.982 6.987 6.986 6.984 6.979 6.976 6.972 6.969
99-31+ 6.979 6.985 6.984 6.982 6.976 6.973 6.970 6.965
100-00 6.977 6.983 6.982 6.980 6.974 6.971 6.967 6.962
100-00+ 6.975 6.982 6.980 6.978 6.972 6.968 6.964 6.959
100-01 6.973 6.980 6.978 6.976 6.969 6.965 6.961 6.956
100-01+ 6.971 6.978 6.976 6.974 6.967 6.963 6.958 6.953
100-02 6.968 6.976 6.974 6.971 6.965 6.960 6.955 6.950
100-02+ 6.966 6.974 6.972 6.969 6.962 6.958 6.953 6.947
100-03 6.964 6.972 6.970 6.967 6.960 6.955 6.950 6.944
100-03+ 6.962 6.971 6.968 6.965 6.957 6.953 6.947 6.941
100-04 6.959 6.969 6.966 6.963 6.955 6.950 6.944 6.938
100-04+ 6.957 6.967 6.964 6.961 6.953 6.947 6.941 6.935
100-05 6.955 6.965 6.962 6.959 6.950 6.945 6.939 6.932
100-05+ 6.953 6.963 6.960 6.957 6.948 6.942 6.936 6.929
100-06 6.951 6.961 6.958 6.955 6.945 6.940 6.933 6.926
100-06+ 6.948 6.960 6.956 6.953 6.943 6.937 6.930 6.923
100-07 6.946 6.958 6.954 6.951 6.941 6.934 6.927 6.919
100-07+ 6.944 6.956 6.952 6.949 6.938 6.932 6.925 6.916
First Payment 6.625 10.292 9.208 8.125 5.875 5.375 4.875 4.458
Average Life 10.252 13.464 12.344 11.311 9.234 8.305 7.440 6.658
Last Payment 16.208 20.792 19.042 17.542 14.958 14.208 13.625 12.792
Mod.Dur. @ 100-00 7.016 8.412 7.966 7.520 6.497 5.999 5.516 5.061
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $49,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $49,000,000.00 BOND AF-7 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-23 7.017 7.017 7.017 7.017 7.018 7.018 7.018 7.018
99-23+ 7.015 7.015 7.015 7.015 7.015 7.015 7.015 7.015
99-24 7.012 7.012 7.012 7.012 7.012 7.012 7.011 7.011
99-24+ 7.009 7.010 7.010 7.010 7.009 7.009 7.008 7.008
99-25 7.007 7.008 7.007 7.007 7.006 7.006 7.005 7.005
99-25+ 7.004 7.005 7.005 7.005 7.003 7.003 7.002 7.001
99-26 7.001 7.003 7.002 7.002 7.001 7.000 6.999 6.998
99-26+ 6.999 7.001 7.000 6.999 6.998 6.997 6.996 6.994
99-27 6.996 6.998 6.998 6.997 6.995 6.994 6.993 6.991
99-27+ 6.994 6.996 6.995 6.994 6.992 6.991 6.989 6.988
99-28 6.991 6.993 6.993 6.992 6.989 6.988 6.986 6.984
99-28+ 6.988 6.991 6.990 6.989 6.987 6.985 6.983 6.981
99-29 6.986 6.989 6.988 6.987 6.984 6.982 6.980 6.978
99-29+ 6.983 6.986 6.985 6.984 6.981 6.979 6.977 6.974
99-30 6.980 6.984 6.983 6.982 6.978 6.976 6.974 6.971
99-30+ 6.978 6.982 6.980 6.979 6.975 6.973 6.970 6.968
99-31 6.975 6.979 6.978 6.977 6.973 6.970 6.967 6.964
99-31+ 6.972 6.977 6.975 6.974 6.970 6.967 6.964 6.961
100-00 6.970 6.974 6.973 6.971 6.967 6.964 6.961 6.958
100-00+ 6.967 6.972 6.971 6.969 6.964 6.961 6.958 6.954
100-01 6.964 6.970 6.968 6.966 6.961 6.958 6.955 6.951
100-01+ 6.962 6.967 6.966 6.964 6.958 6.955 6.952 6.947
100-02 6.959 6.965 6.963 6.961 6.956 6.952 6.948 6.944
100-02+ 6.956 6.963 6.961 6.959 6.953 6.950 6.945 6.941
100-03 6.954 6.960 6.958 6.956 6.950 6.947 6.942 6.937
100-03+ 6.951 6.958 6.956 6.954 6.947 6.944 6.939 6.934
100-04 6.948 6.955 6.953 6.951 6.944 6.941 6.936 6.931
100-04+ 6.946 6.953 6.951 6.949 6.942 6.938 6.933 6.927
100-05 6.943 6.951 6.948 6.946 6.939 6.935 6.930 6.924
100-05+ 6.941 6.948 6.946 6.943 6.936 6.932 6.926 6.921
100-06 6.938 6.946 6.944 6.941 6.933 6.929 6.923 6.917
100-06+ 6.935 6.944 6.941 6.938 6.930 6.926 6.920 6.914
First Payment 6.625 9.125 8.708 8.125 5.875 5.375 4.875 4.458
Average Life 7.868 9.125 8.708 8.288 7.296 6.828 6.315 5.856
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 99-31 5.867 6.547 6.329 6.103 5.534 5.251 4.932 4.637
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $30,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $30,000,000.00 BOND AF-8 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.359 6.359 6.359 6.359 6.359 6.359 6.359 6.359
99-24+ 6.355 6.355 6.355 6.355 6.355 6.355 6.355 6.355
99-25 6.351 6.352 6.352 6.352 6.351 6.351 6.351 6.351
99-25+ 6.348 6.348 6.348 6.348 6.347 6.347 6.347 6.347
99-26 6.344 6.345 6.344 6.344 6.344 6.343 6.343 6.343
99-26+ 6.340 6.341 6.341 6.340 6.340 6.339 6.339 6.339
99-27 6.336 6.338 6.337 6.337 6.336 6.336 6.335 6.335
99-27+ 6.333 6.334 6.334 6.333 6.332 6.332 6.331 6.331
99-28 6.329 6.331 6.330 6.329 6.328 6.328 6.327 6.327
99-28+ 6.325 6.327 6.326 6.326 6.324 6.324 6.323 6.323
99-29 6.321 6.324 6.323 6.322 6.321 6.320 6.319 6.319
99-29+ 6.317 6.320 6.319 6.318 6.317 6.316 6.315 6.315
99-30 6.314 6.316 6.316 6.315 6.313 6.312 6.311 6.311
99-30+ 6.310 6.313 6.312 6.311 6.309 6.308 6.307 6.307
99-31 6.306 6.309 6.308 6.307 6.305 6.304 6.303 6.302
99-31+ 6.302 6.306 6.305 6.304 6.301 6.300 6.299 6.298
100-00 6.299 6.302 6.301 6.300 6.298 6.296 6.295 6.294
100-00+ 6.295 6.299 6.298 6.296 6.294 6.293 6.291 6.290
100-01 6.291 6.295 6.294 6.293 6.290 6.289 6.287 6.286
100-01+ 6.287 6.292 6.290 6.289 6.286 6.285 6.283 6.282
100-02 6.284 6.288 6.287 6.285 6.282 6.281 6.280 6.278
100-02+ 6.280 6.285 6.283 6.281 6.278 6.277 6.276 6.274
100-03 6.276 6.281 6.280 6.278 6.275 6.273 6.272 6.270
100-03+ 6.272 6.278 6.276 6.274 6.271 6.269 6.268 6.266
100-04 6.269 6.274 6.272 6.270 6.267 6.265 6.264 6.262
100-04+ 6.265 6.271 6.269 6.267 6.263 6.261 6.260 6.258
100-05 6.261 6.267 6.265 6.263 6.259 6.257 6.256 6.254
100-05+ 6.257 6.264 6.262 6.259 6.255 6.254 6.252 6.250
100-06 6.254 6.260 6.258 6.256 6.252 6.250 6.248 6.246
100-06+ 6.250 6.256 6.254 6.252 6.248 6.246 6.244 6.242
100-07 6.246 6.253 6.251 6.248 6.244 6.242 6.240 6.238
100-07+ 6.242 6.249 6.247 6.245 6.240 6.238 6.236 6.234
First Payment 3.042 3.042 3.042 3.042 3.042 3.042 3.042 3.042
Average Life 4.991 5.390 5.255 5.116 4.879 4.776 4.682 4.594
Last Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Mod.Dur. @ 100-00 4.132 4.404 4.312 4.218 4.053 3.981 3.915 3.853
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO MATURITY ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.512 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.509 6.509 6.509 6.508
99-26 6.506 6.507 6.507 6.506 6.506 6.506 6.506 6.506
99-26+ 6.504 6.504 6.504 6.504 6.504 6.503 6.503 6.503
99-27 6.501 6.502 6.502 6.501 6.501 6.501 6.500 6.500
99-27+ 6.499 6.499 6.499 6.499 6.498 6.498 6.498 6.498
99-28 6.496 6.497 6.497 6.496 6.496 6.495 6.495 6.495
99-28+ 6.493 6.495 6.494 6.494 6.493 6.493 6.492 6.492
99-29 6.491 6.492 6.492 6.491 6.490 6.490 6.490 6.489
99-29+ 6.488 6.490 6.489 6.489 6.488 6.487 6.487 6.487
99-30 6.486 6.487 6.487 6.486 6.485 6.485 6.484 6.484
99-30+ 6.483 6.485 6.484 6.483 6.482 6.482 6.482 6.481
99-31 6.480 6.482 6.482 6.481 6.480 6.479 6.479 6.478
99-31+ 6.478 6.480 6.479 6.478 6.477 6.477 6.476 6.476
100-00 6.475 6.477 6.477 6.476 6.475 6.474 6.473 6.473
100-00+ 6.473 6.475 6.474 6.473 6.472 6.471 6.471 6.470
100-01 6.470 6.472 6.472 6.471 6.469 6.469 6.468 6.468
100-01+ 6.467 6.470 6.469 6.468 6.467 6.466 6.465 6.465
100-02 6.465 6.468 6.467 6.466 6.464 6.463 6.463 6.462
100-02+ 6.462 6.465 6.464 6.463 6.461 6.461 6.460 6.459
100-03 6.460 6.463 6.462 6.461 6.459 6.458 6.457 6.457
100-03+ 6.457 6.460 6.459 6.458 6.456 6.455 6.455 6.454
100-04 6.454 6.458 6.457 6.455 6.454 6.453 6.452 6.451
100-04+ 6.452 6.455 6.454 6.453 6.451 6.450 6.449 6.448
100-05 6.449 6.453 6.452 6.450 6.448 6.447 6.447 6.446
100-05+ 6.447 6.450 6.449 6.448 6.446 6.445 6.444 6.443
100-06 6.444 6.448 6.447 6.445 6.443 6.442 6.441 6.440
100-06+ 6.442 6.445 6.444 6.443 6.440 6.439 6.439 6.438
100-07 6.439 6.443 6.442 6.440 6.438 6.437 6.436 6.435
100-07+ 6.436 6.441 6.439 6.438 6.435 6.434 6.433 6.432
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.925 8.521 8.294 8.096 7.775 7.638 7.520 7.411
Last Payment 14.208 20.542 18.875 17.375 14.208 14.208 13.458 12.625
Mod.Dur. @ 100-00 6.003 6.333 6.209 6.100 5.918 5.838 5.768 5.702
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
CURRENT BALANCE: $27,000,000.00 DATED DATE: 03/01/98
COUPON: TBD mon98a FIRST PAYMENT: 04/15/98
FACTOR: 1.0000000000 TOTAL CLASSES: 16
ORIGINAL BALANCE: $27,000,000.00 BOND AF-9 BE-YIELD TABLE YIELD TABLE DATE: 03/30/98
</TABLE>
PREPAYMENT SPEED
**** TO CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ARM: 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
FIX: 24.00% 18.00% 20.00% 22.00% 26.00% 28.00% 30.00% 32.00%
HIL: 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
99-24 6.517 6.517 6.517 6.517 6.517 6.517 6.517 6.517
99-24+ 6.514 6.514 6.514 6.514 6.514 6.514 6.514 6.514
99-25 6.511 6.512 6.512 6.511 6.511 6.511 6.511 6.511
99-25+ 6.509 6.509 6.509 6.509 6.508 6.508 6.508 6.508
99-26 6.506 6.507 6.506 6.506 6.506 6.506 6.505 6.505
99-26+ 6.503 6.504 6.504 6.504 6.503 6.503 6.503 6.502
99-27 6.501 6.502 6.501 6.501 6.500 6.500 6.500 6.499
99-27+ 6.498 6.499 6.499 6.498 6.498 6.497 6.497 6.497
99-28 6.495 6.497 6.496 6.496 6.495 6.495 6.494 6.494
99-28+ 6.493 6.494 6.493 6.493 6.492 6.492 6.491 6.491
99-29 6.490 6.491 6.491 6.490 6.489 6.489 6.488 6.488
99-29+ 6.487 6.489 6.488 6.488 6.487 6.486 6.486 6.485
99-30 6.485 6.486 6.486 6.485 6.484 6.483 6.483 6.482
99-30+ 6.482 6.484 6.483 6.482 6.481 6.481 6.480 6.479
99-31 6.479 6.481 6.481 6.480 6.479 6.478 6.477 6.476
99-31+ 6.477 6.479 6.478 6.477 6.476 6.475 6.474 6.474
100-00 6.474 6.476 6.475 6.475 6.473 6.472 6.471 6.471
100-00+ 6.471 6.474 6.473 6.472 6.470 6.470 6.469 6.468
100-01 6.469 6.471 6.470 6.469 6.468 6.467 6.466 6.465
100-01+ 6.466 6.469 6.468 6.467 6.465 6.464 6.463 6.462
100-02 6.463 6.466 6.465 6.464 6.462 6.461 6.460 6.459
100-02+ 6.461 6.464 6.463 6.461 6.459 6.459 6.457 6.456
100-03 6.458 6.461 6.460 6.459 6.457 6.456 6.455 6.453
100-03+ 6.455 6.459 6.457 6.456 6.454 6.453 6.452 6.451
100-04 6.453 6.456 6.455 6.454 6.451 6.450 6.449 6.448
100-04+ 6.450 6.454 6.452 6.451 6.449 6.448 6.446 6.445
100-05 6.447 6.451 6.450 6.448 6.446 6.445 6.443 6.442
100-05+ 6.445 6.449 6.447 6.446 6.443 6.442 6.440 6.439
100-06 6.442 6.446 6.445 6.443 6.440 6.439 6.438 6.436
100-06+ 6.439 6.444 6.442 6.441 6.438 6.437 6.435 6.433
100-07 6.437 6.441 6.440 6.438 6.435 6.434 6.432 6.430
100-07+ 6.434 6.439 6.437 6.435 6.432 6.431 6.429 6.428
First Payment 6.708 7.125 7.042 6.958 6.542 6.375 6.208 6.125
Average Life 7.598 8.208 7.978 7.759 7.407 7.271 7.078 6.917
Last Payment 8.042 9.125 8.708 8.292 7.708 7.542 7.292 7.125
Mod.Dur. @ 100-00 5.825 6.176 6.046 5.919 5.711 5.629 5.511 5.412
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
- --------------------------------------------------------------------------------
- Money Store - MON8A
- Cut Off Date of Tape is 2/28/98
- Fixed Rate Collateral
- $367,994,024.88
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 6,145
Lien Status: First and Second Lien Loans
Aggregate Unpaid Principal Balance: $367,994,024.88
Aggregate Original Principal Balance: $369,471,154.00
Weighted Average Gross Coupon: 10.538%
Gross Coupon Range: 5.000% - 18.990%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $59,885.11
Average Original Principal Balance: $60,125.49
Maximum Unpaid Principal Balance: $657,686.44
Minimum Unpaid Principal Balance: $3,960.00
Maximum Original Principal Balance: $658,000.00
Minimum Original Principal Balance: $5,000.00
Weighted Avg. Rem Term (Sched. Last Pay to Mat/Bln Date): 265.516
Remaining Term Range: 35.000 - 480.000
Weighted Average Age (Original Term - Rem Term): 3.359
Age Range: 0.000 - 128.000
Weighted Average Original Term: 268.875
Original Term Range: 36.000 - 480.000
Weighted Average Combined LTV: 77.620
Combined LTV Range: 1.890% - 100.000%
Weighted Average FICO Score: 628.082 * 232 Scores are not
FICO Score Range: 379 - 827 currently available
- --------------------------------------------------------------------------------
Max Zip Code Concentration: 0.26% Zip Code: 08540 State: NJ
Latest Maturing Loan: 03/15/38
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
4.50% * Gross Coupon *= 5.00% 1 9,411.59 0.00
5.50% * Gross Coupon *= 6.00% 1 16,741.94 0.00
6.50% * Gross Coupon *= 7.00% 2 155,234.81 0.04
7.00% * Gross Coupon *= 7.50% 6 691,587.96 0.19
7.50% * Gross Coupon *= 7.75% 17 1,694,043.25 0.46
7.75% * Gross Coupon *= 8.00% 14 1,322,067.96 0.36
8.00% * Gross Coupon *= 8.25% 16 2,211,332.87 0.60
8.25% * Gross Coupon *= 8.50% 34 3,667,179.50 1.00
8.50% * Gross Coupon *= 8.75% 86 9,525,367.45 2.59
8.75% * Gross Coupon *= 9.00% 397 33,525,444.22 9.11
9.00% * Gross Coupon *= 9.25% 138 13,745,798.07 3.74
9.25% * Gross Coupon *= 9.50% 289 23,711,069.90 6.44
9.50% * Gross Coupon *= 9.75% 352 29,730,286.97 8.08
9.75% * Gross Coupon *= 10.00% 644 52,821,086.30 14.35
10.00% * Gross Coupon *= 10.25% 145 10,473,826.70 2.85
10.25% * Gross Coupon *= 10.50% 350 23,210,502.81 6.31
10.50% * Gross Coupon *= 10.75% 373 27,137,250.72 7.37
10.75% * Gross Coupon *= 11.00% 505 31,518,089.33 8.56
11.00% * Gross Coupon *= 11.25% 229 11,711,648.62 3.18
11.25% * Gross Coupon *= 11.50% 286 13,577,233.42 3.69
11.50% * Gross Coupon *= 11.75% 294 11,959,901.03 3.25
11.75% * Gross Coupon *= 12.00% 437 15,564,858.97 4.23
12.00% * Gross Coupon *= 12.25% 221 7,444,427.65 2.02
12.25% * Gross Coupon *= 12.50% 269 9,127,310.81 2.48
12.50% * Gross Coupon *= 12.75% 158 6,689,124.02 1.82
12.75% * Gross Coupon *= 13.00% 257 7,793,959.61 2.12
13.00% * Gross Coupon *= 13.25% 122 3,625,632.23 0.99
13.25% * Gross Coupon *= 13.50% 154 5,058,515.80 1.37
13.50% * Gross Coupon *= 13.75% 105 3,213,944.67 0.87
13.75% * Gross Coupon *= 14.00% 108 3,066,200.53 0.83
14.00% * Gross Coupon *= 14.25% 35 1,089,217.70 0.30
14.25% * Gross Coupon *= 14.50% 39 1,151,443.73 0.31
14.50% * Gross Coupon *= 14.75% 19 554,119.64 0.15
14.75% * Gross Coupon *= 15.00% 21 602,891.15 0.16
15.00% * Gross Coupon *= 15.25% 4 138,831.86 0.04
15.25% * Gross Coupon *= 15.50% 6 167,700.54 0.05
15.50% * Gross Coupon *= 15.75% 2 50,135.85 0.01
15.75% * Gross Coupon *= 16.00% 2 57,141.10 0.02
16.50% * Gross Coupon *= 16.75% 2 85,591.18 0.02
16.75% * Gross Coupon *= 17.00% 1 23,946.30 0.01
17.00% * Gross Coupon *= 17.25% 1 11,726.12 0.00
17.25% * Gross Coupon *= 17.50% 1 14,950.00 0.00
18.50% * Gross Coupon *= 19.00% 2 47,250.00 0.01
- -------------------------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
===============================================================================
* = Less than
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Original Term Loans Balance Balance
<S> <C> <C> <C>
24 * Orig. Term *= 36 3 20,200.00 0.01%
36 * Orig. Term *= 48 1 23,603.45 0.01%
48 * Orig. Term *= 60 146 2,215,376.88 0.60%
60 * Orig. Term *= 72 12 211,623.98 0.06%
72 * Orig. Term *= 84 56 1,424,528.27 0.39%
84 * Orig. Term *= 96 13 279,952.60 0.08%
96 * Orig. Term *= 108 5 178,554.09 0.05%
108 * Orig. Term *= 120 642 15,352,879.20 4.17%
120 * Orig. Term *= 132 2 56,800.00 0.02%
132 * Orig. Term *= 144 23 662,857.23 0.18%
144 * Orig. Term *= 156 1 16,240.00 0.00%
156 * Orig. Term *= 168 3 138,335.52 0.04%
168 * Orig. Term *= 180 2,323 131,808,796.73 35.82%
192 * Orig. Term *= 204 4 147,150.00 0.04%
204 * Orig. Term *= 216 7 469,992.77 0.13%
216 * Orig. Term *= 228 1 86,500.00 0.02%
228 * Orig. Term *= 240 619 34,026,978.75 9.25%
240 * Orig. Term *= 252 1 24,646.03 0.01%
252 * Orig. Term *= 264 1 29,000.00 0.01%
288 * Orig. Term *= 300 296 13,534,223.32 3.68%
348 * Orig. Term *= 360 1,959 164,635,739.32 44.74%
468 * Orig. Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
24 * Rem Term *= 36 3 20,200.00 0.01%
36 * Rem Term *= 48 2 31,442.49 0.01%
48 * Rem Term *= 60 147 2,262,694.91 0.61%
60 * Rem Term *= 72 14 301,597.63 0.08%
72 * Rem Term *= 84 57 1,359,356.89 0.37%
84 * Rem Term *= 96 18 434,297.61 0.12%
96 * Rem Term *= 108 7 254,048.18 0.07%
108 * Rem Term *= 120 636 15,177,532.87 4.12%
120 * Rem Term *= 132 9 239,669.49 0.07%
132 * Rem Term *= 144 25 748,340.89 0.20%
144 * Rem Term *= 156 53 4,604,562.26 1.25%
156 * Rem Term *= 168 55 9,200,446.00 2.50%
168 * Rem Term *= 180 2,204 117,755,558.73 32.00%
192 * Rem Term *= 204 4 147,150.00 0.04%
204 * Rem Term *= 216 12 1,047,202.40 0.28%
216 * Rem Term *= 228 9 1,453,663.71 0.40%
228 * Rem Term *= 240 607 32,107,251.44 8.72%
252 * Rem Term *= 264 1 29,000.00 0.01%
276 * Rem Term *= 288 1 29,755.99 0.01%
288 * Rem Term *= 300 295 13,504,467.33 3.67%
324 * Rem Term *= 336 23 2,226,196.31 0.60%
336 * Rem Term *= 348 12 2,303,278.33 0.63%
348 * Rem Term *= 360 1,924 160,106,264.68 43.51%
468 * Rem Term *= 480 27 2,650,046.74 0.72%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
AGE OF LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Age Loans Balance Balance
<S> <C> <C> <C>
Age = 0 2,278 113,829,780.23 30.93%
0 * Age *= 12 3,703 236,097,440.99 64.16%
12 * Age *= 24 81 11,761,107.48 3.20%
24 * Age *= 36 67 5,919,417.47 1.61%
36 * Age *= 48 3 51,708.34 0.01%
48 * Age *= 60 6 173,392.10 0.05%
60 * Age *= 72 1 26,726.16 0.01%
72 * Age *= 84 5 106,021.20 0.03%
120 * Age *= 132 1 28,430.91 0.01%
- -------------------------------------------------------------------
Total............ 6,145 367,994,024.88 100.00%
===================================================================
* = Less than.
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Year of Mortgage Principal Principal
Origination Loans Balance Balance
<S> <C> <C> <C>
1987 1 28,430.91 0.01
1991 5 84,411.66 0.02
1992 2 57,747.29 0.02
1993 6 173,392.10 0.05
1994 3 173,697.73 0.05
1995 63 5,028,434.54 1.37
1996 57 7,071,898.79 1.92
1997 2084 162,426,330.52 44.14
1998 3924 192,949,681.34 52.43
- --------------------------------------------------------------------------
Total................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Combined Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
0.00 * CLTV *= 5.00 2 10,921.25 0.00
5.00 * CLTV *= 10.00 8 77,523.73 0.02
10.00 * CLTV *= 15.00 16 223,208.76 0.06
15.00 * CLTV *= 20.00 33 616,085.48 0.17
20.00 * CLTV *= 25.00 51 1,162,249.36 0.32
25.00 * CLTV *= 30.00 61 2,074,953.84 0.56
30.00 * CLTV *= 35.00 89 2,667,485.23 0.72
35.00 * CLTV *= 40.00 93 3,194,192.67 0.87
40.00 * CLTV *= 45.00 105 4,090,307.58 1.11
45.00 * CLTV *= 50.00 115 5,136,383.29 1.40
50.00 * CLTV *= 55.00 152 6,210,624.53 1.69
55.00 * CLTV *= 60.00 207 11,530,215.11 3.13
60.00 * CLTV *= 65.00 318 17,179,345.23 4.67
65.00 * CLTV *= 70.00 529 28,620,921.78 7.78
70.00 * CLTV *= 75.00 547 33,597,637.13 9.13
75.00 * CLTV *= 80.00 1396 86,963,799.46 23.63
80.00 * CLTV *= 85.00 987 68,480,092.54 18.61
85.00 * CLTV *= 90.00 1092 79,119,291.70 21.50
90.00 * CLTV *= 95.00 175 8,002,778.92 2.17
95.00 * CLTV *=100.00 169 9,036,007.29 2.46
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Original Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 4 19,859.66 0.01
5,000 * Balance *= 10,000 166 1,380,107.56 0.38
10,000 * Balance *= 15,000 364 4,619,132.22 1.26
15,000 * Balance *= 20,000 414 7,352,185.66 2.00
20,000 * Balance *= 25,000 469 10,654,660.28 2.90
25,000 * Balance *= 30,000 486 13,533,718.51 3.68
30,000 * Balance *= 35,000 420 13,757,611.02 3.74
35,000 * Balance *= 40,000 422 15,907,998.18 4.32
40,000 * Balance *= 45,000 339 14,521,676.04 3.95
45,000 * Balance *= 50,000 368 17,538,041.06 4.77
50,000 * Balance *= 55,000 303 15,909,077.34 4.32
55,000 * Balance *= 60,000 302 17,457,862.88 4.74
60,000 * Balance *= 65,000 271 16,985,747.24 4.62
65,000 * Balance *= 70,000 219 14,799,598.26 4.02
70,000 * Balance *= 75,000 178 12,900,909.76 3.51
75,000 * Balance *= 80,000 150 11,622,699.66 3.16
80,000 * Balance *= 85,000 128 10,575,729.03 2.87
85,000 * Balance *= 90,000 107 9,360,958.10 2.54
90,000 * Balance *= 95,000 97 9,003,906.97 2.45
95,000 * Balance *= 100,000 87 8,498,755.43 2.31
100,000 * Balance *= 105,000 64 6,554,175.97 1.78
105,000 * Balance *= 110,000 71 7,638,185.53 2.08
110,000 * Balance *= 115,000 78 8,782,936.42 2.39
115,000 * Balance *= 120,000 64 7,539,952.54 2.05
120,000 * Balance *= 125,000 51 6,258,227.40 1.70
125,000 * Balance *= 130,000 46 5,863,404.41 1.59
130,000 * Balance *= 135,000 42 5,540,384.15 1.51
135,000 * Balance *= 140,000 37 5,087,810.93 1.38
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 19 6,692,168.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
* = Less than.
==========================================================================
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
0 * Balance *= 5,000 6 27,905.95 0.01
5,000 * Balance *= 10,000 168 1,397,358.19 0.38
10,000 * Balance *= 15,000 365 4,635,843.79 1.26
15,000 * Balance *= 20,000 415 7,392,157.28 2.01
20,000 * Balance *= 25,000 471 10,723,766.97 2.91
25,000 * Balance *= 30,000 488 13,618,144.00 3.70
30,000 * Balance *= 35,000 416 13,656,557.00 3.71
35,000 * Balance *= 40,000 422 15,960,188.62 4.34
40,000 * Balance *= 45,000 339 14,543,365.27 3.95
45,000 * Balance *= 50,000 366 17,478,195.58 4.75
50,000 * Balance *= 55,000 305 16,032,921.88 4.36
55,000 * Balance *= 60,000 302 17,480,643.97 4.75
60,000 * Balance *= 65,000 268 16,822,636.39 4.57
65,000 * Balance *= 70,000 222 15,009,039.25 4.08
70,000 * Balance *= 75,000 179 12,999,438.20 3.53
75,000 * Balance *= 80,000 147 11,420,131.09 3.10
80,000 * Balance *= 85,000 127 10,501,580.18 2.85
85,000 * Balance *= 90,000 108 9,466,866.65 2.57
90,000 * Balance *= 95,000 95 8,824,432.83 2.40
95,000 * Balance *= 100,000 88 8,598,616.56 2.34
100,000 * Balance *= 105,000 63 6,473,134.36 1.76
105,000 * Balance *= 110,000 73 7,862,885.67 2.14
110,000 * Balance *= 115,000 77 8,681,401.99 2.36
115,000 * Balance *= 120,000 64 7,544,800.57 2.05
120,000 * Balance *= 125,000 49 6,025,660.48 1.64
125,000 * Balance *= 130,000 50 6,378,690.60 1.73
130,000 * Balance *= 135,000 40 5,286,069.79 1.44
135,000 * Balance *= 140,000 35 4,826,839.10 1.31
140,000 * Balance *= 145,000 20 2,859,317.73 0.78
145,000 * Balance *= 150,000 32 4,746,215.05 1.29
150,000 * Balance *= 200,000 144 24,625,471.70 6.69
200,000 * Balance *= 250,000 100 22,426,366.25 6.09
250,000 * Balance *= 300,000 45 12,043,565.02 3.27
300,000 * Balance *= 350,000 20 6,523,430.54 1.77
350,000 * Balance *= 400,000 18 6,688,208.79 1.82
400,000 * Balance *= 450,000 12 5,053,084.28 1.37
450,000 * Balance *= 500,000 1 494,790.18 0.13
500,000 * Balance *= 550,000 3 1,608,423.74 0.44
550,000 * Balance *= 600,000 1 598,192.95 0.16
650,000 * Balance *= 700,000 1 657,686.44 0.18
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* Less than.
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Alaska 1 23,946.30 0.01
Alabama 3 540,105.47 0.15
Arkansas 21 1,241,633.31 0.34
Arizona 90 4,669,429.28 1.27
California 288 24,950,641.77 6.78
Colorado 94 6,684,549.05 1.82
Connecticut 51 5,190,321.80 1.41
Dist of Col 13 940,163.83 0.26
Delaware 23 1,598,190.44 0.43
Florida 377 22,788,435.47 6.19
Georgia 215 12,662,922.85 3.44
Hawaii 2 375,934.04 0.10
Iowa 44 1,622,881.50 0.44
Idaho 38 1,925,506.28 0.52
Illinois 276 15,809,945.87 4.30
Indiana 251 12,667,853.06 3.44
Kansas 90 4,223,826.45 1.15
Kentucky 127 7,252,144.91 1.97
Louisiana 82 3,265,941.21 0.89
Massachsetts 80 6,231,449.61 1.69
Maryland 90 6,673,483.09 1.81
Maine 43 2,039,478.17 0.55
Michigan 299 15,142,149.62 4.11
Minnesota 79 4,442,855.53 1.21
Missouri 189 7,706,840.30 2.09
Mississippi 160 7,803,703.15 2.12
Montana 16 995,273.54 0.27
North Carolina 309 20,409,179.45 5.55
North Dakota 5 141,062.74 0.04
Nebraska 41 1,837,082.06 0.50
New Hampshire 20 1,096,876.13 0.30
New Jersey 248 23,131,434.98 6.29
New Mexico 62 3,232,876.49 0.88
Nevada 35 3,067,049.55 0.83
New York 387 31,748,992.53 8.63
Ohio 327 19,279,525.60 5.24
Oklahoma 51 2,344,105.17 0.64
Oregon 50 3,281,786.97 0.89
Pennsylvania 346 17,263,714.54 4.69
Rhode Island 9 624,570.99 0.17
South Carolina 237 12,839,006.44 3.49
South Dakota 6 147,240.91 0.04
Tennessee 162 9,344,083.36 2.54
Texas 447 18,108,779.86 4.92
Utah 31 1,957,947.04 0.53
Virginia 73 4,806,484.66 1.31
Vermont 17 841,623.71 0.23
Washington 135 8,340,756.71 2.27
Wisconsin 60 2,678,868.48 0.73
West Virgina 36 1,619,575.47 0.44
Wyoming 9 381,795.14 0.10
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Single Family Detached 5277 312,195,463.82 84.84
2-4 Family 282 21,293,358.11 5.79
Deminimus PUD 1 22,800.00 0.01
Single Wide MH 163 6,644,133.07 1.81
Double Wide MH 145 6,971,198.60 1.89
Triple Wide MH 1 76,443.38 0.02
Mixed Use 38 3,041,625.06 0.83
Townhouses 35 1,530,947.48 0.42
Condominiums 86 4,020,025.77 1.09
PUD Detached 82 6,718,280.83 1.83
PUD Attached 13 723,897.73 0.20
Multi-Family 22 4,755,851.03 1.29
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Owner Occ. 5776 346,630,942.23 94.19
Investor 328 19,447,945.15 5.28
Vacation/Second Home 41 1,915,137.50 0.52
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Full Documentation 6145 367,994,024.88 100.00
- ----------------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==================================================================================
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
Purchase 297 29,193,242.87 7.93
Refinance/No ETO 3437 261,515,239.47 71.07
Refinance/ETO 980 29,789,718.74 8.10
Home Improvement 4 85,357.73 0.02
Debt Consolidation 1420 45,701,990.29 12.42
Other 7 1,708,475.78 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN TYPE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
LOAN TYPE Loans Balance Balance
<S> <C> <C> <C>
FIXED 6137 366,247,814.24 99.53
4/26 6M LIBOR 1 56,956.89 0.02
6 MONTH LIBOR 7 1,689,253.75 0.46
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
1 4494 317,608,289.84 86.31
2 1651 50,385,735.04 13.69
- --------------------------------------------------------------------------
Total............... 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
COLLATERAL GRADE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loan Grade Loans Balance Balance
<S> <C> <C> <C>
A 1956 144,348,916.93 39.23
A- 1903 115,856,014.86 31.48
B+ 732 40,405,472.68 10.98
B 967 44,699,006.56 12.15
B- 388 14,453,831.32 3.93
C+ 17 652,545.80 0.18
C 177 7,448,281.75 2.02
C- 5 129,954.98 0.04
- -----------------------------------------------------------------
Total.......... 6145 $367,994,024.88 100.00%
=================================================================
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
<PAGE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
<S> <C> <C> <C>
Fully Amortizing 5605 309,197,620.87 84.02
Partially Amortizing 540 58,796,404.01 15.98
- --------------------------------------------------------------------------
Total.................. 6145 $367,994,024.88 100.00%
==========================================================================
</TABLE>
FICO SCORE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate
Number of Principal Principal
Loans Balance Balance
<S> <C> <C> <C>
FICO *= 550 864 43,006,597.11 11.69
551 * FICO *= 600 1351 76,990,346.40 20.92
601 * FICO *= 650 1674 104,958,835.82 28.52
651 * FICO *= 700 1334 86,219,342.54 23.43
700 * FICO 690 44,535,306.02 12.10
Unavailable FICO 232 12,283,596.99 3.34
- --------------------------------------------------------------------------
Total.................... 6145 $367,994,024.88 100.00%
==========================================================================
* = Less than.
</TABLE>
The analysis above 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. The
information provided above is based on or derived from information provided by
the issuer. No representation is made that it is accurate or complete. FCCM
makes no representations that the above referenced security will actually
perform as described in any scenario presented. This structural termsheet
supersedes any previous structural termsheets and will be superseded by the
information in the final prospectus supplement.
