<PAGE>
<PAGE>
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 15, 1996
Cargill Financial Services Corporation
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 33-96500 41-1492786
- ------------------------------ ----------------- ------------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
6000 Clearwater Drive
Minnetonka, Minnesota 55343
(Address of Principal ------------------
Executive Offices) (Zip Code)
Registrant's telephone number, including area code (612) 984-0979
No Change
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
- --------------------------------------------------------------------------------
<PAGE>
<PAGE>
Item 5. Other Events
In connection with the offering of Access Financial Mortgage
Loan Trust 1996-2 Mortgage Loan PassThrough Certificates, Series 1996-2,
described in a Prospectus Supplement dated as of May 15, 1996, certain
"Computational Materials" within the meanings of the May 20, 1994 Kidder,
Peabody No-Action Letter and the February 17, 1995 Public Securities Association
No-Action Letter were furnished to certain prospective investors (the "Related
Computational Materials").
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibit 99.1. Related Computational Materials (as
defined in Item 5 above).
<PAGE>
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this Report to
be signed on its behalf by the undersigned thereunto duly authorized.
CARGILL FINANCIAL SERVICES CORPORATION
--------------------------------------
as Sponsor and on behalf of Access
Financial Mortgage Loan Trust 1996-1
Registrant
By: /s/ Jeffrey A. Hilligoss
------------------------
Name: Jeffrey A. Hilligoss
Title: Vice President
Dated: May 21, 1996
<PAGE>
<PAGE>
EXHIBIT INDEX
-------------
Exhibit No. Description Page No.
- ----------- ----------- --------
99.1 Related Computational 6
Materials (as defined
in Item 5 above).
<PAGE>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
Mortgage Loan Pass-Through Certificates, Series 1996-2
Class A Certificates
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------
GROUP I
CLASS A GROUP I CERTIFICATES
Class A-1 Class A-2 Class A-3 Class A-4 Class A-5
Variable-Rate Fixed-Rate Fixed-Rate Fixed-Rate Fixed-Rate
--------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
Approximate
Face Amount: $[ 58,456,000] $[ 38,768,000] $[ 16,525,000] $[ 14,713,000] $[ 13,796,000]
Avg Life: [1.05]yrs [3.05]yrs [5.05]yrs [7.05]yrs [11.01]yrs
Avg Life
to Call: [1.05]yrs [3.05]yrs [5.05]yrs [7.05]yrs [8.57]yrs
Coupon: 1M L +[12.5]bps [6.925%] [7.300%] [7.625%] [7.925%]
Price [100-00] [99-31] [99-29+] [99-30] [99-29]
Yield (CBE): [%] [6.922%] [7.352%] [7.695%] [8.020%]
Spread: [] [75] [98] [112] [138]
Pricing Spd: [23]% HEP [23]% HEP [23]% HEP [23]% HEP [23]% HEP
Settlement: [5/22/96] [5/22/96] [5/22/96] [5/22/96] [5/22/96]
Exp Mat: [6/18/98] [9/18/00] [4/18/02] [10/18/04] [3/18/11]
Exp. Mat
to Call: [6/18/98] [9/18/00] [4/18/02] [10/18/04] [12/18/04]
Final Mat [3/18/11] [3/18/11] [6/18/14] [9/18/21] [6/18/27]
Day Count: Actual/360 30/360 30/360 30/360 30/360
Pymt Delay: 0 days 16 days 16 days 16 days 16 days
Dated Date: 5/22/96 5/02/96 5/02/96 5/02/96 5/02/96
Pymt Terms: Monthly Monthly Monthly Monthly Monthly
1st Pymt Date: 6/18/96 6/18/96 6/18/96 6/18/96 6/18/96
</TABLE>
*Pass-Through Rate is the least of:
1) One Month LIBOR + [12.5]bps
2) The Available Funds Cap
3) [10]%
<TABLE>
<S> <C>
Available Funds Cap: A rate equal to the weighted average net coupon rate (i.e., the
weighted average coupon rate less [0.6075%] for servicing fees,
trustee fees and certificate insurer premiums) for the Group I
fixed-rate mortgage loans for such Payment Date.
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
Mortgage Loan Pass-Through Certificates, Series 1996-2
Class A Certificates
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------
GROUP II
CLASS A GROUP II CERTIFICATES
<S> <C>
Class A-6
Variable-Rate
-------------
Approximate Face Amount: [$ 68,344,000]
Average Life to Mat: [3.63] years
Average Life to Call: [3.39] years
Pass-Through Rate: The lesser of:
1) One Month LIBOR + [33] bps
2) The Available Funds Cap
Price: [100-00]
Yield: Variable
Pricing Speed: [24%] HEP
Settlement: [5/22/96]
Exp Maturity: [6/18/13]
Exp Maturity to Call: [12/18/04]
Final Maturity: [6/18/27]
Day Count: actual/360
Payment Delay: 0 days.
Dated Date: [5/22/96]
Payment Terms: Monthly.
1st Payment Date: 6/18/96
Available Funds Cap: A rate equal to the weighted average net coupon rate (i.e., the
weighted average coupon rate less [0.6075%] for servicing fees,
trustee fees and certificate insurer premiums) for the Variable-Rate
Group II mortgage loans for such Payment Date.
Shortfall Reimbursement: If on any Payment Date the Class A-6 Certificate interest distribution
amount is less than the Pass-Through Rate, 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 Class A-6 Certificate principal
balance has been reduced to zero. The shortfall reimbursement feature
will NOT be insured by the FGIC guarantee.
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
Mortgage Loan Pass-Through Certificates, Series 1996-2
Class A Certificates
<TABLE>
<S> <C>
Title of Securities: Access Financial Mortgage Loan Trust 1996-2,
Mortgage Loan Pass-Through Certificates, Series 1996-2
Group I: Class A-1, A-2, A-3, A-4 and A-5 (the "Group I
Certificates").
Group II: Class A-6 (the "Group II Certificates").
Sponsor: Cargill Financial Services Corporation.
Seller/
Master Servicer: Access Financial Lending Corp.("Access").
Sub-Servicers: LSI Financial Group and Electronic Data Systems Corporation.
Master Servicer Fee: 45 bps per annum (if Access is not the Master Servicer, then 50 bps per annum).
Trustee: Norwest Bank Minnesota, N.A.
Aggregate
Certificate Balance: Group I $[142,258,000.00]
Group II $[ 68,344,000.00]
Pricing Date: [May 15, 1996]
Settlement Date: [May 22, 1996]
Payment Date: The 18th day of each month (or, if such date is not a business
day, the next succeeding business day) commencing June 18, 1996.
Record Date: -Class A-2, A-3, A-4 and A-5 - The first day of the calendar
month of the related Payment Date.
-Class A-1 and A-6 - The day preceding the related Payment Date.
Interest Accrual: -Class A-2, A-3, A-4 and A-5 - The second day of the calendar month
preceding the related Payment Date to the first day of the calendar
month of the related Payment Date.
-Class A-1 and A-6 - The previous month's Payment Date to
the day preceding the related Payment Date.
Form of Certificates: Book-entry only through the same-day funds facilities
of DTC, Euroclear and CEDEL.
Denominations: Minimum denominations of $1,000 and integral multiples of $1,000
in excess thereof.
Prepayment
Assumption: For the Group I Certificates, [23]% HEP ([2.3]% CPR in month
1 with monthly incremental increases of [2.3]% CPR until the
speed reaches [23]% CPR in month 10 based on loan seasoning.)
For the Group II Certificates, [24]% HEP.
Flow of Funds: GROUP I AND GROUP II MONTHLY CASH FLOWS
1) to the Master Servicer, the Master Servicer Fee;
2) to the Master Servicer, any unreimbursed advanced on a mortgage loan;
3) to the Trustee, the Trustee Fee;
4) to the Certificate Insurer, the Premium;
GROUP I MONTHLY CASH FLOWS
5) accrued monthly interest to the Class A Group I Certificates, including
any interest carryforward;
6) monthly principal to the Class A Group I Certificates sequentially, including
any principal carryforward;
7) to Class A-6 interest, if needed;
8) to the Surety Provider, any unreimbursed draws;
9) to Group I O/C up to its target amount as described below;
10) to Group II O/C, if needed;
11) to the Class B Certificateholders;
12) to the Residual Certificate holder.
GROUP II MONTHLY CASH FLOWS
5) accrued monthly interest to the Class A Group II Certificates, including
any interest carryforward;
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
Mortgage Loan Pass-Through Certificates, Series 1996-2
Class A Certificates
<TABLE>
<S> <C>
Flow of Funds (cont'd): 6) monthly principal to the Class A Group II Certificates, including
any principal carryforward;;
7) to Class A Group I Certificates interest, if needed;
8) to the Surety Provider, any unreimbursed draws;
9) to Group II O/C up to its target amount as described below;
10) to Group I O/C, if needed;
11) to the Class B Certificateholders;
12) to the Residual Certificate holder.
FOR A COMPLETE DESCRIPTION OF THE FLOW OF FUNDS, PLEASE REFER TO THE PROSPECTUS
SUPPLEMENT SECTION TITLED "DESCRIPTION OF THE CERTIFICATES - FLOW OF FUNDS AND
DISTRIBUTIONS ON THE CLASS A CERTIFICATES"
Credit Enhancement: A combination of:
- Excess monthly cash flow
- Overcollateralization
- Cross-collateralization
- 100% wrap from FGIC guaranteeing timely interest and
ultimate principal.
Overcollateralization
Levels (Approx.): 6 month O/C Target: Group I Certificates -- [$750,000]
24 month O/C Target: Group I Certificates -- [2.65%] I.B.
Group II Certificates -- [3.00%] I.B.
O/C Floor: 0.79%] I.B.
These O/C percentages are subject to step downs
beginning in month 24 if certain tests are met.
Certificate Insurer: Financial Guaranty Insurance Company ("FGIC"). FGIC's
claims-paying ability is rated AAA/Aaa by Standard & Poor's ("S&P")
and Moody's Investors Service ("Moody's"), respectively.
Certificate Ratings: The Class A Certificates will be rated AAA by
S&P and Aaa by Moody's.
10% Clean-up Call: The Seller has the option to excercise a call at par plus accrued
interest when the outstanding Pool Balance equals 10% or less of
the original principal balance of the Pool.
Auction Call: If the Seller does not exercise the 10% Cleanup Call,
the Trustee will hold an auction call and solicit bids to purchase the
mortgage loans when the outstanding Pool Balance has declined
to 10% of the original Pool Balance. This call will be exercised at no
less than par plus accrued interest.
ERISA Consideration: The Class A Certificates will be ERISA eligible.
However, investors should consult with their counsel
with respect to the consequences under ERISA and
the Internal Revenue Code of the Plan's acquisition
and ownership of such Certificates.
SMMEA Considerations: The Class A Certificates will not be SMMEA eligible.
Taxation: REMIC.
Prospectus: The Certificates are being offered pursuant to a Prospectus which includes a Prospectus
Supplement (together, the "Prospectus"). Complete information with respect to the Certificates
and the Collateral is contained in the Prospectus. The foregoing is qualified in its entirety
by the information appearing in the Prospectus. To the extent that the foregoing is inconsistent
with the Prospectus, the Prospectus shall govern in all respects. Sales of the Certificates
may not be consumated unless the purchaser has received the Prospectus.
Further Information: Call the ABS trading desk at (212) 778-2741, Evan Mitnick (212)778-7469,
Sean Arnold (212)778-4921, Lina Hsu (212) 778-1451 or Benito Leon at
(212) 778-2458 with any questions.
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
Deal ID/CUSIP AFMLT62 Deal Date 05/15/96
Series 1996-2 Delivery Date 05/22/96
Underwriter PSI Dated Date / /
Issuer ACCESS FINANCIAL MORTGAGE LOAN TRUS Credit Support 100% FGIC
Collateral 100%WL (Real) Deal Type HEL REMIC
N/GWAC (Orig) / (10.118/10.568) Pricing Speed HEP 23 / 24.
WAM (Orig) (27.577) Rating AAA/Aaa
Size 210,602,000 Coupon Range
Trustee Modeled Y
View Summary On Page 1 of 4
<TABLE>
<CAPTION>
Class Coupon Mat Amt 000 AvLf Sprd Price Yield Description
- ------ ------- ----- ------- ---- ---- ------- ------- -------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1 * N/A 58,456 1.1 N/A 100-00 N/A FLT CUR LIBOR-1M + 12.5
A2 6.925 N/A 38,768 3.0 75 99-31 6.922 SEQ
A3 7.300 N/A 16,525 5.0 98 99-29+ 7.352 SEQ
A4 7.625 N/A 14,713 7.0 112 99-30 7.695 SEQ
A5 7.925 N/A 13,796 11.0 138 99-29 8.020 SEQ
A6 * N/A 68,344 3.6 N/A 100-00 N/A FLT CUR LIBOR-1M +33
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $58,456,000.00 DATED DATE: 05/22/96
CURRENT COUPON: 5.543% AFMLT62 FIRST PAYMENT: 06/18/96
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $58,456,000.00 BOND A1 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 05/22/96
</TABLE>
<TABLE>
<CAPTION>
ASSUMED CONSTANT LIBOR-1M 5.4180
PRICING SPEED
23.0% 15.00% 18.00% 20.00% 26.00% 30.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 36.936 30.094 32.747 34.459 39.313 42.358
99-24+ 35.406 28.992 31.480 33.084 37.634 40.489
99-25 33.877 27.891 30.212 31.710 35.956 38.620
99-25+ 32.348 26.790 28.945 30.336 34.278 36.752
99-26 30.819 25.689 27.679 28.962 32.601 34.884
99-26+ 29.291 24.589 26.412 27.589 30.924 33.017
99-27 27.763 23.489 25.146 26.215 29.247 31.150
99-27+ 26.235 22.389 23.880 24.843 27.571 29.283
99-28 24.707 21.289 22.615 23.470 25.895 27.417
99-28+ 23.180 20.190 21.350 22.098 24.219 25.551
99-29 21.654 19.090 20.084 20.726 22.544 23.685
99-29+ 20.127 17.991 18.820 19.354 20.869 21.820
99-30 18.601 16.893 17.555 17.983 19.195 19.955
99-30+ 17.075 15.794 16.291 16.612 17.520 18.091
99-31 15.550 14.696 15.027 15.241 15.847 16.227
99-31+ 14.025 13.598 13.763 13.870 14.173 14.363
100-00 12.500 12.500 12.500 12.500 12.500 12.500
100-00+ 10.976 11.402 11.237 11.130 10.827 10.637
100-01 9.451 10.305 9.974 9.760 9.155 8.775
100-01+ 7.928 9.208 8.711 8.391 7.483 6.913
100-02 6.404 8.111 7.449 7.022 5.811 5.051
100-02+ 4.881 7.015 6.187 5.653 4.140 3.190
100-03 3.358 5.918 4.925 4.285 2.469 1.329
100-03+ 1.836 4.822 3.664 2.917 0.798 -0.531
100-04 0.313 3.726 2.403 1.549 -0.872 -2.392
100-04+ -1.209 2.631 1.142 0.181 -2.542 -4.251
100-05 -2.730 1.535 -0.119 -1.186 -4.212 -6.111
100-05+ -4.251 0.440 -1.379 -2.553 -5.881 -7.969
100-06 -5.772 -0.655 -2.639 -3.920 -7.550 -9.828
100-06+ -7.293 -1.750 -3.899 -5.286 -9.219 -11.686
100-07 -8.813 -2.844 -5.159 -6.652 -10.887 -13.544
100-07+ -10.333 -3.938 -6.418 -8.018 -12.555 -15.401
First Payment 0.072 0.072 0.072 0.072 0.072 0.072
Average Life 1.048 1.482 1.277 1.173 0.952 0.851
Last Payment 2.072 3.072 2.572 2.322 1.822 1.572
Mac.Dur. @ 100-00 1.013 1.408 1.223 1.127 0.923 0.828
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $38,768,000.00 DATED DATE: 05/02/96
COUPON: 6.925% AFMLT62 FIRST PAYMENT: 06/18/96
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $38,768,000.00 BOND A2 PRICE-YIELD TABLE YIELD TABLE DATE: 05/22/96
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 18.00% 20.00% 26.00% 30.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 7.004 7.010 7.008 7.006 7.001 6.998
99-24+ 6.998 7.006 7.003 7.001 6.995 6.990
99-25 6.992 7.002 6.998 6.996 6.988 6.983
99-25+ 6.986 6.998 6.994 6.991 6.982 6.975
99-26 6.980 6.994 6.989 6.985 6.975 6.968
99-26+ 6.974 6.990 6.984 6.980 6.968 6.960
99-27 6.968 6.986 6.979 6.975 6.962 6.953
99-27+ 6.963 6.982 6.975 6.970 6.955 6.946
99-28 6.957 6.977 6.970 6.965 6.949 6.938
99-28+ 6.951 6.973 6.965 6.959 6.942 6.931
99-29 6.945 6.969 6.960 6.954 6.936 6.923
99-29+ 6.939 6.965 6.955 6.949 6.929 6.916
99-30 6.933 6.961 6.951 6.944 6.923 6.908
99-30+ 6.927 6.957 6.946 6.939 6.916 6.901
99-31 6.921 6.953 6.941 6.933 6.909 6.893
99-31+ 6.916 6.949 6.936 6.928 6.903 6.886
100-00 6.910 6.944 6.932 6.923 6.896 6.878
100-00+ 6.904 6.940 6.927 6.918 6.890 6.871
100-01 6.898 6.936 6.922 6.913 6.883 6.863
100-01+ 6.892 6.932 6.917 6.907 6.877 6.856
100-02 6.886 6.928 6.913 6.902 6.870 6.848
100-02+ 6.880 6.924 6.908 6.897 6.864 6.841
100-03 6.875 6.920 6.903 6.892 6.857 6.834
100-03+ 6.869 6.916 6.898 6.887 6.851 6.826
100-04 6.863 6.912 6.894 6.881 6.844 6.819
100-04+ 6.857 6.908 6.889 6.876 6.837 6.811
100-05 6.851 6.903 6.884 6.871 6.831 6.804
100-05+ 6.845 6.899 6.879 6.866 6.824 6.796
100-06 6.839 6.895 6.875 6.861 6.818 6.789
100-06+ 6.834 6.891 6.870 6.855 6.811 6.781
100-07 6.828 6.887 6.865 6.850 6.805 6.774
100-07+ 6.822 6.883 6.860 6.845 6.798 6.767
First Payment 2.072 3.072 2.572 2.322 1.822 1.572
Average Life 3.046 4.587 3.864 3.492 2.698 2.338
Last Payment 4.322 6.489 5.489 4.906 3.822 3.239
Mac.Dur. @ 100-00 2.743 3.918 3.382 3.096 2.459 2.157
Accrued Interest 0.385 0.385 0.385 0.385 0.385 0.385
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $16,525,000.00 DATED DATE: 05/02/96
COUPON: 7.300% AFMLT62 FIRST PAYMENT: 06/18/96
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $16,525,000.00 BOND A3 PRICE-YIELD TABLE YIELD TABLE DATE: 05/22/96
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 18.00% 20.00% 26.00% 30.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 7.394 7.399 7.397 7.396 7.392 7.389
99-24+ 7.390 7.396 7.394 7.392 7.387 7.384
99-25 7.386 7.393 7.391 7.389 7.383 7.379
99-25+ 7.382 7.390 7.387 7.385 7.379 7.374
99-26 7.378 7.388 7.384 7.382 7.375 7.369
99-26+ 7.375 7.385 7.381 7.379 7.370 7.365
99-27 7.371 7.382 7.378 7.375 7.366 7.360
99-27+ 7.367 7.379 7.375 7.372 7.362 7.355
99-28 7.363 7.377 7.372 7.368 7.358 7.350
99-28+ 7.359 7.374 7.369 7.365 7.353 7.345
99-29 7.355 7.371 7.365 7.361 7.349 7.341
99-29+ 7.352 7.368 7.362 7.358 7.345 7.336
99-30 7.348 7.366 7.359 7.355 7.341 7.331
99-30+ 7.344 7.363 7.356 7.351 7.336 7.326
99-31 7.340 7.360 7.353 7.348 7.332 7.321
99-31+ 7.336 7.357 7.350 7.344 7.328 7.316
100-00 7.333 7.355 7.347 7.341 7.324 7.312
100-00+ 7.329 7.352 7.343 7.338 7.319 7.307
100-01 7.325 7.349 7.340 7.334 7.315 7.302
100-01+ 7.321 7.346 7.337 7.331 7.311 7.297
100-02 7.317 7.344 7.334 7.327 7.307 7.292
100-02+ 7.313 7.341 7.331 7.324 7.303 7.288
100-03 7.310 7.338 7.328 7.321 7.298 7.283
100-03+ 7.306 7.335 7.325 7.317 7.294 7.278
100-04 7.302 7.333 7.321 7.314 7.290 7.273
100-04+ 7.298 7.330 7.318 7.310 7.286 7.268
100-05 7.294 7.327 7.315 7.307 7.281 7.263
100-05+ 7.291 7.324 7.312 7.304 7.277 7.259
100-06 7.287 7.322 7.309 7.300 7.273 7.254
100-06+ 7.283 7.319 7.306 7.297 7.269 7.249
100-07 7.279 7.316 7.303 7.293 7.264 7.244
100-07+ 7.275 7.313 7.300 7.290 7.260 7.239
First Payment 4.322 6.489 5.489 4.906 3.822 3.239
Average Life 5.046 7.629 6.428 5.802 4.451 3.830
Last Payment 5.906 8.906 7.572 6.822 5.239 4.489
Mac.Dur. @ 100-00 4.229 5.860 5.140 4.738 3.807 3.348
Accrued Interest 0.406 0.406 0.406 0.406 0.406 0.406
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $14,713,000.00 DATED DATE: 05/02/96
COUPON: 7.625% AFMLT62 FIRST PAYMENT: 06/18/96
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $14,713,000.00 BOND A4 PRICE-YIELD TABLE YIELD TABLE DATE: 05/22/96
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 18.00% 20.00% 26.00% 30.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 7.730 7.734 7.733 7.732 7.728 7.726
99-24+ 7.727 7.732 7.730 7.729 7.725 7.722
99-25 7.724 7.730 7.728 7.727 7.722 7.719
99-25+ 7.721 7.728 7.725 7.724 7.719 7.715
99-26 7.718 7.726 7.723 7.721 7.715 7.711
99-26+ 7.715 7.723 7.720 7.718 7.712 7.708
99-27 7.712 7.721 7.718 7.716 7.709 7.704
99-27+ 7.709 7.719 7.715 7.713 7.706 7.700
99-28 7.706 7.717 7.713 7.710 7.702 7.697
99-28+ 7.704 7.714 7.711 7.708 7.699 7.693
99-29 7.701 7.712 7.708 7.705 7.696 7.689
99-29+ 7.698 7.710 7.706 7.702 7.693 7.686
99-30 7.695 7.708 7.703 7.700 7.689 7.682
99-30+ 7.692 7.705 7.701 7.697 7.686 7.678
99-31 7.689 7.703 7.698 7.694 7.683 7.675
99-31+ 7.686 7.701 7.696 7.692 7.680 7.671
100-00 7.683 7.699 7.693 7.689 7.676 7.667
100-00+ 7.680 7.697 7.691 7.686 7.673 7.663
100-01 7.677 7.694 7.688 7.684 7.670 7.660
100-01+ 7.674 7.692 7.686 7.681 7.666 7.656
100-02 7.671 7.690 7.683 7.678 7.663 7.652
100-02+ 7.668 7.688 7.681 7.676 7.660 7.649
100-03 7.665 7.685 7.678 7.673 7.657 7.645
100-03+ 7.662 7.683 7.676 7.670 7.653 7.641
100-04 7.659 7.681 7.673 7.668 7.650 7.638
100-04+ 7.656 7.679 7.671 7.665 7.647 7.634
100-05 7.653 7.677 7.668 7.662 7.644 7.630
100-05+ 7.650 7.674 7.666 7.660 7.640 7.627
100-06 7.647 7.672 7.663 7.657 7.637 7.623
100-06+ 7.644 7.670 7.661 7.654 7.634 7.619
100-07 7.641 7.668 7.658 7.652 7.631 7.616
100-07+ 7.639 7.665 7.656 7.649 7.627 7.612
First Payment 5.906 8.906 7.572 6.822 5.239 4.489
Average Life 7.048 10.563 8.955 8.097 6.213 5.336
Last Payment 8.406 12.489 10.656 9.656 7.406 6.406
Mac.Dur. @ 100-00 5.461 7.268 6.501 6.051 4.957 4.392
Accrued Interest 0.424 0.424 0.424 0.424 0.424 0.424
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $13,796,000.00 DATED DATE: 05/02/96
COUPON: 7.925% AFMLT62 FIRST PAYMENT: 06/18/96
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $13,796,000.00 BOND A5 PRICE-YIELD TABLE YIELD TABLE DATE: 05/22/96
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT SPEED
PRICING SPEED
23.0% 15.00% 18.00% 20.00% 26.00% 30.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 8.042 8.045 8.044 8.043 8.041 8.040
99-24+ 8.040 8.043 8.042 8.041 8.039 8.037
99-25 8.038 8.041 8.040 8.039 8.037 8.034
99-25+ 8.036 8.039 8.038 8.037 8.034 8.032
99-26 8.034 8.037 8.036 8.035 8.032 8.029
99-26+ 8.031 8.035 8.034 8.033 8.029 8.026
99-27 8.029 8.034 8.032 8.031 8.027 8.024
99-27+ 8.027 8.032 8.030 8.029 8.025 8.021
99-28 8.025 8.030 8.028 8.027 8.022 8.018
99-28+ 8.022 8.028 8.026 8.025 8.020 8.016
99-29 8.020 8.026 8.024 8.023 8.017 8.013
99-29+ 8.018 8.024 8.022 8.021 8.015 8.010
99-30 8.016 8.022 8.020 8.019 8.013 8.008
99-30+ 8.014 8.020 8.018 8.017 8.010 8.005
99-31 8.011 8.019 8.016 8.015 8.008 8.003
99-31+ 8.009 8.017 8.014 8.012 8.005 8.000
100-00 8.007 8.015 8.012 8.010 8.003 7.997
100-00+ 8.005 8.013 8.010 8.008 8.001 7.995
100-01 8.003 8.011 8.008 8.006 7.998 7.992
100-01+ 8.000 8.009 8.006 8.004 7.996 7.989
100-02 7.998 8.007 8.005 8.002 7.994 7.987
100-02+ 7.996 8.006 8.003 8.000 7.991 7.984
100-03 7.994 8.004 8.001 7.998 7.989 7.981
100-03+ 7.992 8.002 7.999 7.996 7.986 7.979
100-04 7.989 8.000 7.997 7.994 7.984 7.976
100-04+ 7.987 7.998 7.995 7.992 7.982 7.974
100-05 7.985 7.996 7.993 7.990 7.979 7.971
100-05+ 7.983 7.994 7.991 7.988 7.977 7.968
100-06 7.980 7.993 7.989 7.986 7.974 7.966
100-06+ 7.978 7.991 7.987 7.984 7.972 7.963
100-07 7.976 7.989 7.985 7.982 7.970 7.960
100-07+ 7.974 7.987 7.983 7.980 7.967 7.958
First Payment 8.406 12.489 10.656 9.656 7.406 6.406
Average Life 11.005 14.634 13.229 12.306 9.803 8.440
Last Payment 14.822 19.656 17.156 15.739 14.822 12.989
Mac.Dur. @ 100-00 7.315 8.685 8.202 7.851 6.783 6.126
Accrued Interest 0.440 0.440 0.440 0.440 0.440 0.440
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<S> <C> <C> <C> <C>
CURRENT BALANCE: $68,344,000.00 DATED DATE: 05/22/96
CURRENT COUPON: 5.748% AFMLT62 FIRST PAYMENT: 06/18/96
FACTOR: 1.0000000000 TOTAL CLASSES: 6
ORIGINAL BALANCE: $68,344,000.00 BOND A6 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 05/22/96
</TABLE>
<TABLE>
<CAPTION>
ASSUMED CONSTANT LIBOR-1M 5.4180
PRICING SPEED
24.00% 15.00% 18.00% 20.00% 26.00% 30.00%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
99-24 41.119 38.664 39.467 40.011 41.682 42.825
99-24+ 40.611 38.310 39.061 39.572 41.138 42.209
99-25 40.102 37.955 38.657 39.133 40.595 41.594
99-25+ 39.594 37.600 38.252 38.694 40.051 40.979
99-26 39.086 37.246 37.847 38.255 39.508 40.364
99-26+ 38.578 36.891 37.442 37.817 38.965 39.750
99-27 38.070 36.537 37.038 37.378 38.422 39.135
99-27+ 37.562 36.183 36.634 36.940 37.879 38.521
99-28 37.055 35.829 36.229 36.501 37.336 37.907
99-28+ 36.548 35.475 35.825 36.063 36.794 37.293
99-29 36.040 35.121 35.421 35.625 36.251 36.679
99-29+ 35.533 34.767 35.018 35.187 35.709 36.065
99-30 35.026 34.414 34.614 34.750 35.167 35.452
99-30+ 34.519 34.060 34.210 34.312 34.625 34.839
99-31 34.013 33.707 33.807 33.875 34.083 34.226
99-31+ 33.506 33.353 33.403 33.437 33.541 33.613
100-00 33.000 33.000 33.000 33.000 33.000 33.000
100-00+ 32.494 32.647 32.597 32.563 32.459 32.387
100-01 31.988 32.294 32.194 32.126 31.918 31.775
100-01+ 31.482 31.941 31.791 31.689 31.377 31.163
100-02 30.976 31.588 31.388 31.252 30.836 30.551
100-02+ 30.470 31.235 30.985 30.816 30.295 29.939
100-03 29.965 30.883 30.583 30.379 29.754 29.327
100-03+ 29.460 30.530 30.180 29.943 29.214 28.716
100-04 28.954 30.178 29.778 29.507 28.674 28.104
100-04+ 28.449 29.826 29.376 29.071 28.134 27.493
100-05 27.945 29.473 28.974 28.635 27.594 26.882
100-05+ 27.440 29.121 28.572 28.199 27.054 26.271
100-06 26.935 28.769 28.170 27.763 26.515 25.661
100-06+ 26.431 28.417 27.768 27.328 25.975 25.050
100-07 25.926 28.066 27.367 26.892 25.436 24.440
100-07+ 25.422 27.714 26.965 26.457 24.897 23.830
First Payment 0.072 0.072 0.072 0.072 0.072 0.072
Average Life 3.632 5.708 4.815 4.349 3.350 2.895
Last Payment 17.072 24.989 22.156 20.322 15.739 13.572
Mac.Dur. @ 100-00 3.055 4.380 3.836 3.538 2.857 2.524
Accrued Interest 0.000 0.000 0.000 0.000 0.000 0.000
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
________________________________________________________________________________
- ACCESS
- $142,258,961.34
- Asset Backed Collateral
- Fix
________________________________________________________________________________
Product: First and Second Liens
Number of Contracts: 2,221
Aggregate Unpaid Principal Balance: $142,258,961.34
Aggregate Original Principal Balance: $142,232,671.71
Weighted Average Gross Coupon: 11.107%
Range: 7.750% - 18.250%
Weighted Average Maturity: 229.305
Range: 22.000 - 360.000
Weighted Average Age of Loans in Months: 1.753
Range: 0.000 - 165.000
Weighted Average Original Term: 231.058
Range: 60.000 - 360.000
Weighted Average CLTV: 74.372
Range: 9.000% - 90.000%
Weighted Average Current LTV: 73.450
Range: 3.976% - 610.000%
Maximum Current Principal Balance: $450,000.00
Minimum Current Principal Balance: $9,492.06
Average Unpaid Principal Balance: $64,051.76
Maximum Original Principal Balance: $450,000.00
Minimum Original Principal Balance: $9,955.48
Average Original Principal Balance: $64,039.92
________________________________________________________________________________
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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<CAPTION>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
State Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
Alabama 131 5.90% 6,652,411.46 4.68
Arizona 20 0.90% 1,535,529.31 1.08
Arkansas 1 0.05% 85,491.93 0.06
California 94 4.23% 11,321,245.22 7.96
Colorado 37 1.67% 1,836,504.16 1.29
Connecticut 5 0.23% 379,888.10 0.27
Delaware 6 0.27% 323,513.48 0.23
Dist* Columb* 4 0.18% 383,844.86 0.27
Florida 221 9.95% 13,669,693.35 9.61
Georgia 139 6.26% 7,941,193.04 5.58
Hawaii 3 0.14% 598,436.20 0.42
Idaho 23 1.04% 1,563,403.03 1.10
Illinois 83 3.74% 5,912,574.49 4.16
Indiana 90 4.05% 4,085,042.78 2.87
Iowa 4 0.18% 202,514.92 0.14
Kansas 34 1.53% 2,359,613.19 1.66
Kentucky 16 0.72% 856,638.51 0.60
Louisiana 2 0.09% 87,892.70 0.06
Maryland 22 0.99% 1,945,696.36 1.37
Massachusetts 33 1.49% 2,980,275.18 2.09
Michigan 378 17.02% 21,428,521.95 15.06
Minnesota 67 3.02% 4,711,365.17 3.31
Mississippi 13 0.59% 676,107.22 0.48
Missouri 59 2.66% 3,762,393.54 2.64
Montana 1 0.05% 220,396.40 0.15
Nebraska 1 0.05% 39,966.29 0.03
Nevada 10 0.45% 839,494.56 0.59
New Hampshire 1 0.05% 42,000.00 0.03
New Jersey 39 1.76% 3,699,720.49 2.60
New Mexico 14 0.63% 1,014,193.03 0.71
New York 28 1.26% 3,243,982.56 2.28
North Carolina 55 2.48% 3,211,352.13 2.26
Ohio 179 8.06% 9,549,113.63 6.71
Oklahoma 5 0.23% 505,532.97 0.36
Oregon 24 1.08% 1,834,252.90 1.29
Pennsylvania 40 1.80% 2,529,642.62 1.78
Rhode Island 19 0.86% 1,239,746.09 0.87
South Carolina 94 4.23% 4,503,376.29 3.17
Tennessee 72 3.24% 3,825,552.32 2.69
Texas 46 2.07% 3,969,616.37 2.79
Utah 39 1.76% 2,438,215.20 1.71
Virginia 11 0.50% 756,294.96 0.53
Washington 30 1.35% 1,983,883.05 1.39
Wisconsin 27 1.22% 1,496,839.33 1.05
Wyoming 1 0.05% 16,000.00 0.01
_____________________________________________________________________________________
Total................... 2,221 100.00% 142,258,961.34 100.00%
=====================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<CAPTION>
COMBINED LOAN-TO-VALUE RATIOS
____________________________________________________________________________________
Aggregate Percent of
Combined Unpaid Aggregate
Loan-To-Value Number of Percent of Principal Principal
Ratio Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
5.000 < CLTV <= 10.000 1 .05 31,370.15 0.02
10.000 < CLTV <= 15.000 3 .14 49,967.71 0.04
15.000 < CLTV <= 20.000 7 .32 105,251.75 0.07
20.000 < CLTV <= 25.000 15 .68 307,428.03 0.22
25.000 < CLTV <= 30.000 17 .77 500,999.32 0.35
30.000 < CLTV <= 35.000 25 1.13 758,844.33 0.53
35.000 < CLTV <= 40.000 34 1.53 1,118,115.75 0.79
40.000 < CLTV <= 45.000 44 1.98 1,891,091.38 1.33
45.000 < CLTV <= 50.000 65 2.93 2,063,760.60 1.45
50.000 < CLTV <= 55.000 66 2.97 3,315,751.09 2.33
55.000 < CLTV <= 60.000 121 5.45 5,576,604.31 3.92
60.000 < CLTV <= 65.000 169 7.61 9,906,601.88 6.96
65.000 < CLTV <= 70.000 262 11.80 15,273,886.72 10.74
70.000 < CLTV <= 75.000 354 15.94 21,922,297.70 15.41
75.000 < CLTV <= 80.000 744 33.50 53,697,522.83 37.75
80.000 < CLTV <= 85.000 211 9.50 17,738,201.95 12.47
85.000 < CLTV <= 90.000 83 3.74 8,001,265.84 5.62
_____________________________________________________________________________________
Total.................... 2,221 100.00% 142,258,961.34 100.00%
=====================================================================================
</TABLE>
GROSS COUPON
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Percent of Principal Principal
Gross Coupon Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
7.50% < Gross Cpn <= 8.00% 4 .18 201,466.30 .14
8.00% < Gross Cpn <= 8.50% 21 .95 1,600,265.50 1.12
8.50% < Gross Cpn <= 9.00% 70 3.15 4,809,190.57 3.38
9.00% < Gross Cpn <= 9.50% 118 5.31 9,337,042.62 6.56
9.50% < Gross Cpn <= 10.00% 263 11.84 20,023,529.77 14.08
10.00% < Gross Cpn <= 10.50% 239 10.76 15,874,373.01 11.16
10.50% < Gross Cpn <= 11.00% 358 16.12 24,768,719.52 17.41
11.00% < Gross Cpn <= 11.50% 254 11.44 15,817,680.81 11.12
11.50% < Gross Cpn <= 12.00% 280 12.61 18,135,028.96 12.75
12.00% < Gross Cpn <= 12.50% 190 8.55 10,713,622.08 7.53
12.50% < Gross Cpn <= 13.00% 189 8.51 9,669,852.60 6.80
13.00% < Gross Cpn <= 13.50% 84 3.78 4,351,077.65 3.06
13.50% < Gross Cpn <= 14.00% 69 3.11 3,733,583.05 2.62
14.00% < Gross Cpn <= 14.50% 38 1.71 1,307,763.97 .92
14.50% < Gross Cpn <= 15.00% 30 1.35 1,393,320.66 .98
15.00% < Gross Cpn <= 15.50% 4 .18 178,701.40 .13
15.50% < Gross Cpn <= 16.00% 2 .09 61,495.98 .04
16.00% < Gross Cpn <= 16.50% 3 .14 87,021.81 .06
16.50% < Gross Cpn <= 17.00% 3 .14 160,225.08 .11
17.50% < Gross Cpn <= 18.00% 1 .05 20,000.00 .01
18.00% < Gross Cpn <= 18.50% 1 .05 15,000.00 .01
_____________________________________________________________________________________
Total.................... 2,221 100.00 142,258,961.34 100.00
=====================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<CAPTION>
Distribution of Outstanding Loan Balances as of the Cut-Off Date
__________________________________________________________________________________________
Aggregate Unpaid % of Aggr
Percent of Loan Balance Unpaid Loan
Range of Number of Number As of the Balance as of
Loan Balances Loans of Loans Cut-Off Date the Cut-Off Date
<S> <C> <C> <C> <C>
0 < Balance <= 50,000 1072 48.27 35,881,641.17 25.22
50,000 < Balance <= 100,000 816 36.74 56,893,495.55 39.99
100,000 < Balance <= 150,000 223 10.04 27,061,105.95 19.02
150,000 < Balance <= 200,000 65 2.93 11,278,771.15 7.93
200,000 < Balance <= 250,000 30 1.35 6,714,402.72 4.72
250,000 < Balance <= 300,000 12 .54 3,346,591.70 2.35
300,000 < Balance <= 350,000 2 .09 632,953.10 0.44
400,000 < Balance <= 450,000 1 .05 450,000.00 0.32
______________________________________________________________________________________
Total.................... 2,221 100.00% 142,258,961.34 100.00%
======================================================================================
</TABLE>
<TABLE>
<CAPTION>
LIEN STATUS AND OWNER OCCUPANCY
_____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
First Lien/Owner Occ 1856 83.57% 127,172,704.71 89.395
First Lien/Non-Owner Occ 172 7.74% 8,971,939.47 6.307
Second Lien/Owner Occ 182 8.19% 5,782,469.54 4.065
Second Lien/Non-Owner Occ 11 0.50% 331,847.62 .233
__________________________________________________________________________________________
Total.......... 2221 100.00% $142,258,961.34 100.00%
==========================================================================================
</TABLE>
<TABLE>
<CAPTION>
AGE IN MONTHS
____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Age Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
0 < Age <= 6 2,188 98.51 140,057,101.69 98.45
6 < Age <= 12 21 .95 921,518.24 .65
12 < Age <= 18 1 .05 40,230.49 .03
18 < Age <= 24 3 .14 359,001.57 .25
24 < Age <= 30 4 .18 642,655.96 .45
30 < Age <= 36 2 .09 187,991.72 .13
36 < Age <= 42 1 .05 21,820.41 .02
156 < Age <= 168 1 .05 28,641.26 .02
____________________________________________________________________________________
Total.................... 2,221 100.00% 142,258,961.34 100.00%
====================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<CAPTION>
PROPERTY TYPE
_____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
Single-family 2,012 90.59 129,758,674.35 91.21
Modular Housing 10 .45 451,935.41 0.32
Manufactured Housing 42 1.89 2,019,065.49 1.42
PUD 8 .36 655,039.82 0.46
SF Row House 16 .72 1,170,457.66 0.82
Townhouses 16 .72 1,058,202.95 0.74
Duplex 67 3.02 4,389,683.81 3.09
Condominiums 40 1.80 2,066,794.56 1.45
2-4 Family 10 .45 689,107.29 0.48
_____________________________________________________________________________________
Total............... 2,221 100.00% 142,258,961.34 100.00%
=====================================================================================
</TABLE>
<TABLE>
<CAPTION>
REMAINING TERM
____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Rem Term Loan Loan Count Balance Balance
<S> <C> <C> <C> <C>
12 < Rem Term <= 24 1 .05 21,820.41 .02
24 < Rem Term <= 36 1 .05 24,790.26 .02
48 < Rem Term <= 60 4 .18 105,831.43 .07
72 < Rem Term <= 84 2 .09 29,562.21 .02
84 < Rem Term <= 96 2 .09 31,406.36 .02
108 < Rem Term <= 120 51 2.30 1,324,008.98 .93
144 < Rem Term <= 156 4 .18 597,804.94 .42
156 < Rem Term <= 168 3 .14 319,646.92 .22
168 < Rem Term <= 180 1,402 63.12 90,789,390.65 63.82
192 < Rem Term <= 204 1 .05 28,641.26 .02
204 < Rem Term <= 216 1 .05 45,704.65 .03
228 < Rem Term <= 240 227 10.22 12,087,550.89 8.50
324 < Rem Term <= 336 1 .05 241,932.97 .17
348 < Rem Term <= 360 521 23.46 36,610,869.41 25.74
____________________________________________________________________________________
Total.................... 2,221 100.00% 142,258,961.34 100.00%
====================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
________________________________________________________________________________
- ACCESS
- $68,344,659.70
- Asset Backed Collateral
- Arm
________________________________________________________________________________
Product: First Liens
Number of Contracts: 684
Aggregate Unpaid Principal Balance: $68,344,659.70
Aggregate Original Principal Balance: $68,384,839.96
Weighted Average Gross Coupon: 9.439%
Range: 6.700% - 14.250%
Weighted Average Maturity: 353.875
Range: 118.000 - 360.000
Weighted Average Age of Loans in Months: 1.180
Range: 0.000 - 10.000
Weighted Average Original Term: 355.055
Range: 120.000 - 360.000
Weighted Average CLTV: 75.327
Range: 16.000% - 90.000%
Weighted Average Current LTV: 75.283
Range: 16.000% - 90.000%
Weighted Average Margin (Gross): 6.089%
Gross Margin Range: 3.375% - 10.225%
Weighted Average Life Cap (Gross): 16.068%
Gross Life Cap Range: 13.500% - 20.750%
Weighted Average Life Floor (Gross): 9.374%
Gross Life Floor Range: 6.125% - 14.250
Weighted Average Periodic Interest Cap: 1.128%
Periodic Interest Cap Range: 1.000% - 1.500%
Weighted Average Months to Interest Roll: 6.752
Months to Interest Roll Range: 0 - 35
Weighted Average Months to Payment Roll: 7.752
Months to Payment Roll Range: 1 - 36
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
Weighted Average Payment Roll Frequency: 6.000
Payment Frequency Range: 6 - 6
Maximum Current Principal Balance: $542,126.70
Minimum Current Principal Balance: $10,000.00
Average Unpaid Principal Balance: $99,919.09
Maximum Original Principal Balance: $542,126.65
Minimum Original Principal Balance: $10,000.00
Average Original Principal Balance: $99,977.84
________________________________________________________________________________
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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<CAPTION>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
_____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
State Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
Alabama 6 0.88% 360,376.98 0.53
Arizona 21 3.07% 1,946,315.91 2.85
California 121 17.69% 17,639,520.02 25.81
Colorado 8 1.17% 967,271.00 1.42
Connecticut 6 0.88% 504,072.69 0.74
Dist* Columb* 4 0.58% 253,709.47 0.37
Florida 16 2.34% 1,424,639.35 2.08
Georgia 2 0.29% 118,300.00 0.17
Hawaii 1 0.15% 207,000.00 0.30
Idaho 12 1.75% 696,031.12 1.02
Illinois 8 1.17% 1,020,497.33 1.49
Indiana 15 2.19% 743,160.82 1.09
Iowa 2 0.29% 184,800.00 0.27
Kansas 1 0.15% 76,000.00 0.11
Kentucky 2 0.29% 163,414.99 0.24
Maryland 25 3.65% 3,085,903.57 4.52
Massachusetts 19 2.78% 2,320,982.93 3.40
Michigan 140 20.47% 8,138,062.62 11.91
Minnesota 12 1.75% 969,567.45 1.42
Missouri 1 0.15% 35,993.93 0.05
Montana 3 0.44% 177,854.19 0.26
Nebraska 1 0.15% 140,000.00 0.20
Nevada 8 1.17% 1,047,787.50 1.53
New Hampshire 2 0.29% 86,092.90 0.13
New Jersey 15 2.19% 2,032,488.24 2.97
New Mexico 5 0.73% 464,422.45 0.68
New York 5 0.73% 712,980.80 1.04
North Carolina 1 0.15% 208,250.00 0.30
Ohio 8 1.17% 642,269.95 0.94
Oregon 27 3.95% 2,954,046.60 4.32
Pennsylvania 9 1.32% 914,770.38 1.34
Rhode Island 27 3.95% 2,562,013.34 3.75
South Carolina 5 0.73% 296,531.02 0.43
South Dakota 4 0.58% 201,720.00 0.30
Tennessee 5 0.73% 538,575.99 0.79
Texas 22 3.22% 2,929,257.77 4.29
Utah 42 6.14% 4,133,088.41 6.05
Virginia 11 1.61% 1,870,491.33 2.74
Washington 37 5.41% 4,046,163.41 5.92
West Virgina 1 0.15% 94,396.82 0.14
Wisconsin 23 3.36% 1,383,338.42 2.02
Wyoming 1 0.15% 52,500.00 0.08
_____________________________________________________________________________________
Total................... 684 100.00% 68,344,659.70 100.00%
=====================================================================================
</TABLE>
<TABLE>
<CAPTION>
COMBINED LOAN-TO-VALUE RATIOS
_____________________________________________________________________________________
Aggregate Percent of
Combined Unpaid Aggregate
Loan-To-Value Number of Percent of Principal Principal
Ratio Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
15.000 < CLTV <= 20.000 3 .44 119,925.07 0.18
20.000 < CLTV <= 25.000 1 .15 46,000.00 0.07
25.000 < CLTV <= 30.000 5 .73 162,450.78 0.24
30.000 < CLTV <= 35.000 2 .29 67,500.00 0.10
35.000 < CLTV <= 40.000 3 .44 108,500.00 0.16
40.000 < CLTV <= 45.000 14 2.05 941,203.51 1.38
45.000 < CLTV <= 50.000 26 3.80 1,701,209.52 2.49
50.000 < CLTV <= 55.000 11 1.61 856,872.07 1.25
55.000 < CLTV <= 60.000 29 4.24 1,891,548.23 2.77
60.000 < CLTV <= 65.000 59 8.63 5,005,372.47 7.32
65.000 < CLTV <= 70.000 80 11.70 7,299,107.50 10.68
70.000 < CLTV <= 75.000 121 17.69 12,856,774.57 18.81
75.000 < CLTV <= 80.000 219 32.02 22,762,818.31 33.31
80.000 < CLTV <= 85.000 62 9.06 7,445,431.87 10.89
85.000 < CLTV <= 90.000 49 7.16 7,079,945.80 10.36
_____________________________________________________________________________________
Total.................... 684 100.00% 68,344,659.70 100.00%
=====================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
GROSS COUPON
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Percent of Principal Principal
Gross Coupon Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
6.50% < Gross Cpn <= 7.00% 1 .15 60,000.00 .09
7.00% < Gross Cpn <= 7.50% 6 .88 731,242.58 1.07
7.50% < Gross Cpn <= 8.00% 36 5.26 3,971,214.58 5.81
8.00% < Gross Cpn <= 8.50% 66 9.65 8,511,057.37 12.45
8.50% < Gross Cpn <= 9.00% 143 20.91 15,569,844.97 22.78
9.00% < Gross Cpn <= 9.50% 115 16.81 11,687,951.64 17.10
9.50% < Gross Cpn <= 10.00% 117 17.11 12,217,873.15 17.88
10.00% < Gross Cpn <= 10.50% 69 10.09 6,285,985.90 9.20
10.50% < Gross Cpn <= 11.00% 56 8.19 4,834,891.11 7.07
11.00% < Gross Cpn <= 11.50% 20 2.92 1,744,524.16 2.55
11.50% < Gross Cpn <= 12.00% 27 3.95 1,446,166.35 2.12
12.00% < Gross Cpn <= 12.50% 7 1.02 346,322.53 .51
12.50% < Gross Cpn <= 13.00% 10 1.46 451,074.93 .66
13.00% < Gross Cpn <= 13.50% 2 .29 72,000.00 .11
13.50% < Gross Cpn <= 14.00% 8 1.17 385,082.85 .56
14.00% < Gross Cpn <= 14.50% 1 .15 29,427.58 .04
_____________________________________________________________________________________
Total.................... 684 100.00 68,344,659.70 100.00
=====================================================================================
</TABLE>
<TABLE>
<CAPTION>
Distribution of Outstanding Loan Balances as of the Cut-Off Date
______________________________________________________________________________________________
Aggregate Unpaid % of Aggr
Percent of Loan Balance Unpaid Loan
Range of Number of Number As of the Balance as of
Loan Balances Loans of Loans Cut-Off Date the Cut-Off Date
<S> <C> <C> <C> <C>
0 < Balance <= 50,0 136 19.88 4,919,344.38 7.20
50,000 < Balance <= 100,0 289 42.25 21,749,301.63 31.82
100,000 < Balance <= 150,0 148 21.64 17,974,079.79 26.30
150,000 < Balance <= 200,0 59 8.63 10,067,743.00 14.73
200,000 < Balance <= 250,0 32 4.68 7,128,617.90 10.43
250,000 < Balance <= 300,0 11 1.61 3,055,609.60 4.47
300,000 < Balance <= 350,0 4 .58 1,318,165.80 1.93
350,000 < Balance <= 400,0 2 .29 720,670.90 1.05
400,000 < Balance <= 450,0 2 .29 869,000.00 1.27
500,000 < Balance <= 550,0 1 .15 542,126.70 0.79
________________________________________________________________________________________
Total.................... 684 100.00% 68,344,659.70 100.00%
========================================================================================
</TABLE>
<TABLE>
<CAPTION>
LIEN STATUS AND OWNER OCCUPANCY
______________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
Owner Occ. 639 93.42 64,423,963.50 94.26
Non Owner Occ. 45 6.58 3,920,696.20 5.74
_____________________________________________________________________________________
Total.................. 684 100.00% 68,344,659.70 100.00%
=====================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
<TABLE>
<CAPTION>
AGE IN MONTHS
____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Age Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
0 < Age <= 6 681 99.56 68,047,885.14 99.57
6 < Age <= 12 3 .44 296,774.56 .43
____________________________________________________________________________________
Total.................... 684 100.00% 68,344,659.70 100.00%
====================================================================================
</TABLE>
<TABLE>
<CAPTION>
PROPERTY TYPE
_____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Loans Loan Count Balance Balance
<S> <C> <C> <C> <C>
Single-family 607 88.74 61,981,084.79 90.69
Modular Housing 2 .29 90,020.41 0.13
Manufactured Housing 10 1.46 713,270.44 1.04
PUD 2 .29 212,081.42 0.31
SF Row House 5 .73 743,402.24 1.09
Townhouses 14 2.05 1,248,093.76 1.83
Duplex 24 3.51 1,562,173.33 2.29
Condominiums 19 2.78 1,741,333.31 2.55
2-4 Family 1 .15 53,200.00 0.08
_____________________________________________________________________________________
Total............... 684 100.00% 68,344,659.70 100.00%
=====================================================================================
</TABLE>
<TABLE>
<CAPTION>
REMAINING TERM
____________________________________________________________________________________
Aggregate Percent of
Unpaid Aggregate
Number of Percent of Principal Principal
Rem Term Loan Loan Count Balance Balance
<S> <C> <C> <C> <C>
108 < Rem Term <= 120 3 .44 61,248.09 .09
168 < Rem Term <= 180 26 3.80 1,739,760.73 2.55
228 < Rem Term <= 240 2 .29 84,430.15 .12
348 < Rem Term <= 360 653 95.47 66,459,220.73 97.24
____________________________________________________________________________________
Total.................... 684 100.00% 68,344,659.70 100.00%
====================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
GROSS MARGIN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate Number of
Principal Principal Mortgage Percent of
Gross Margin Balance Balance Loans Loan Count
<S> <C> <C> <C> <C>
3.25% < Margin <= 3.50% 128,376.60 .19 1 .15
3.75% < Margin <= 4.00% 1,546,268.23 2.26 12 1.75
4.00% < Margin <= 4.25% 474,786.67 .69 5 .73
4.25% < Margin <= 4.50% 1,725,634.43 2.52 14 2.05
4.50% < Margin <= 4.75% 2,889,648.20 4.23 22 3.22
4.75% < Margin <= 5.00% 3,612,854.87 5.29 30 4.39
5.00% < Margin <= 5.25% 3,612,254.27 5.29 38 5.56
5.25% < Margin <= 5.50% 4,758,251.71 6.96 47 6.87
5.50% < Margin <= 5.75% 7,338,819.66 10.74 64 9.36
5.75% < Margin <= 6.00% 8,404,807.35 12.30 75 10.96
6.00% < Margin <= 6.25% 6,815,340.88 9.97 65 9.50
6.25% < Margin <= 6.50% 8,248,681.24 12.07 79 11.55
6.50% < Margin <= 6.75% 4,566,260.63 6.68 50 7.31
6.75% < Margin <= 7.00% 4,413,129.43 6.46 52 7.60
7.00% < Margin <= 7.25% 3,156,348.93 4.62 35 5.12
7.25% < Margin <= 7.50% 1,911,720.74 2.80 23 3.36
7.50% < Margin <= 7.75% 1,461,377.27 2.14 20 2.92
7.75% < Margin <= 8.00% 1,305,244.59 1.91 18 2.63
8.00% < Margin <= 8.25% 564,112.60 .83 11 1.61
8.25% < Margin <= 8.50% 702,468.20 1.03 7 1.02
8.50% < Margin <= 8.75% 369,027.02 .54 7 1.02
8.75% < Margin <= 9.00% 58,500.00 .09 2 .29
9.00% < Margin <= 9.25% 146,936.54 .21 3 .44
9.25% < Margin <= 9.50% 97,409.64 .14 3 .44
10.00% < Margin <= 10.25% 36,400.00 .05 1 .15
_____________________________________________________________________________________
Total.................... 68,344,659.70 100.00 684 100.00
=====================================================================================
</TABLE>
MAXIMUM LIFETIME COUPON RATE (LIFE CAP)
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate Number of
Gross Principal Principal Mortgage Percentage of
Life Cap Balance Balance Loans Loan Count
<S> <C> <C> <C> <C>
13.000 LIFE CAP <= 13.500 175,409.18 0.26 2 .29
13.500 LIFE CAP <= 14.000 472,300.00 0.69 5 .73
14.000 LIFE CAP <= 14.500 2,851,423.95 4.17 22 3.22
14.500 LIFE CAP <= 15.000 8,922,404.34 13.06 85 12.43
15.000 LIFE CAP <= 15.500 9,999,953.13 14.63 87 12.72
15.500 LIFE CAP <= 16.000 15,496,016.45 22.67 144 21.05
16.000 LIFE CAP <= 16.500 10,795,836.10 15.80 112 16.37
16.500 LIFE CAP <= 17.000 8,929,093.93 13.06 93 13.60
17.000 LIFE CAP <= 17.500 4,459,887.63 6.53 45 6.58
17.500 LIFE CAP <= 18.000 3,640,557.99 5.33 46 6.73
18.000 LIFE CAP <= 18.500 1,097,606.99 1.61 16 2.34
18.500 LIFE CAP <= 19.000 931,659.58 1.36 15 2.19
19.000 LIFE CAP <= 19.500 72,000.00 0.11 2 .29
19.500 LIFE CAP <= 20.000 414,582.85 0.61 8 1.17
20.000 LIFE CAP <= 20.500 29,427.58 0.04 1 .15
20.500 LIFE CAP <= 21.000 56,500.00 0.08 1 .15
_______________________________________________________________________________________
Total................. $ 68,344,659.70 100.00% 684 100.00
=======================================================================================
</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>
<PAGE>
ACCESS FINANCIAL MORTGAGE LOAN TRUST 1996-2
MINIMUM LIFETIME COUPON RATES (LIFE FLOOR)
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Unpaid Aggregate Number of
Gross Principal Principal Mortgage Percentage of
Life Floor Balance Balance Loans Loan Count
<S> <C> <C> <C> <C>
6.000 Life Floor <= 6.500 268,796.40 0.39 3 .44
6.500 Life Floor <= 7.000 607,500.00 0.89 5 .73
7.000 Life Floor <= 7.500 1,085,809.68 1.59 8 1.17
7.500 Life Floor <= 8.000 4,192,264.58 6.13 39 5.70
8.000 Life Floor <= 8.500 8,501,688.24 12.44 69 10.09
8.500 Life Floor <= 9.000 15,594,440.71 22.82 143 20.91
9.000 Life Floor <= 9.500 11,245,918.68 16.45 109 15.94
9.500 Life Floor <= 10.000 11,992,027.41 17.55 115 16.81
10.000 Life Floor <= 10.500 6,071,165.42 8.88 68 9.94
10.500 Life Floor <= 11.000 4,407,281.11 6.45 52 7.60
11.000 Life Floor <= 11.500 1,647,693.23 2.41 18 2.63
11.500 Life Floor <= 12.000 1,446,166.35 2.12 27 3.95
12.000 Life Floor <= 12.500 346,322.53 0.51 7 1.02
12.500 Life Floor <= 13.000 451,074.93 0.66 10 1.46
13.000 Life Floor <= 13.500 72,000.00 0.11 2 .29
13.500 Life Floor <= 14.000 385,082.85 0.56 8 1.17
14.000 Life Floor <= 14.500 29,427.58 0.04 1 .15
_______________________________________________________________________________________
Total................. $ 68,344,659.70 100.00% 684 100.00
=======================================================================================
</TABLE>
NEXT INTEREST ROLLDATE DATE
<TABLE>
<CAPTION>
Percentage
of Cut-Off
Aggregate Date
Next Number of Unpaid Aggregate Weighted
Roll Mortgage Principal Principal Average Percent of
Date Loans Balance Balance Coupon Loan Count
<S> <C> <C> <C> <C> <C>
05/21/96 1 $94,610.65 00.14 9.412 .15
06/01/96 17 $1,487,509.86 02.18 9.355 2.49
07/01/96 79 $8,222,664.41 12.03 9.583 11.55
08/01/96 147 $14,741,030.37 21.57 9.397 21.49
09/01/96 118 $10,379,992.66 15.19 9.639 17.25
10/01/96 162 $16,367,394.70 23.95 9.321 23.68
11/01/96 89 $7,826,044.96 11.45 9.364 13.01
10/01/97 1 $97,641.11 00.14 8.375 .15
03/01/98 1 $140,000.00 00.20 7.625 .15
04/01/98 40 $5,123,753.90 07.50 9.429 5.85
05/01/98 17 $2,599,150.00 03.80 9.375 2.49
03/01/99 3 $260,864.29 00.38 10.353 .44
04/01/99 9 $1,004,002.79 01.47 9.744 1.32
_____________________________________________________________________
Total........ 684 $68,344,659.70 100.00% 9.439
=====================================================================
</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>
