<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): December 31, 1997
GREEN TREE FINANCIAL CORPORATION
as originator of Home Improvement and
Home Equity Loan Trust 1997-E
-----------------------------
(Exact name of registrant as specified in its charter)
333-20335
Delaware 333-32669 41-1859796
------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
-----------------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (612)293-3400
---------------
Not Applicable
------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant.
--------------------------------
Not applicable.
Item 2. Acquisition or Disposition of Assets.
------------------------------------
Not applicable.
Item 3. Bankruptcy or Receivership.
--------------------------
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
----------------------------------------------
Not applicable.
Item 5. Other Events.
------------
On December 31, 1997, the Registrant sold $181,368,753 of home
improvement contract and closed-end home equity loans (together, the
"Subsequent Contracts") to the Home Improvement and Home Equity Loan
Trust 1997-E (the "Trust"), pursuant to the pre-funding provisions of
the Pooling and Servicing Agreement dated December 1, 1997, filed
herewith as Exhibit 99 are tables providing information with respect
to the Subsequent Contracts and the Contracts in the aggregate,
similar to the information provided with respect to the Initial
Contracts in the Prospectus dated December 10, 1997. Capitalized
terms used herein and not defined have the meaning assigned in the
Pooling and Servicing Agreement.
Item 6. Resignations of Registrant's Directors.
--------------------------------------
Not applicable.
Item 7. Financial Statements and Exhibits.
---------------------------------
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
2
<PAGE>
(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99 Information regarding Subsequent Contracts transferred
to the Home Improvement and Home Equity Loan Trust
1997-E on December 31, 1997.
3
<PAGE>
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 hereunto duly authorized.
GREEN TREE FINANCIAL CORPORATION
as originator of Home Improvement
and Home Equity Loan Trust 1997-E
By: /s/ Joel H. Gottesman
---------------------------------------
Joel H. Gottesman
Senior Vice President, General Counsel
and Secretary
4
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Page
- -------------- ----
99 Information regarding Subsequent Contracts Filed Electronically
transferred to the Home Improvement and Home
Equity Loan Trust 1997-E on December 31, 1997.
<PAGE>
Exhibit 99
Set forth below is a description of certain additional characteristics of
the Subsequent Home Improvement Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--SUBSEQUENT HOME IMPROVEMENT
CONTRACTS
<TABLE>
<CAPTION>
% OF
% OF SUBSEQUENT
SUBSEQUENT HOME IMPROVEMENT
HOME IMPROVEMENT CONTRACTS BY
CONTRACTS BY AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 11 .68% $ 232,139.46 .84%
Alaska.................. 2 .12 54,508.00 .20
Arizona................. 30 1.85 639,949.74 2.31
Arkansas................ 24 1.48 335,647.78 1.21
California.............. 128 7.88 3,226,817.15 11.64
Colorado................ 91 5.61 1,211,298.64 4.37
Connecticut............. 63 3.88 1,040,168.43 3.75
Delaware................ 6 .37 148,833.81 .54
Florida................. 79 4.87 1,395,120.07 5.03
Georgia................. 16 .99 281,469.39 1.02
Idaho................... 1 .06 16,031.92 .06
Illinois................ 78 4.81 1,265,814.21 4.57
Indiana................. 38 2.34 488,482.76 1.76
Iowa.................... 16 .99 189,271.45 .68
Kansas.................. 19 1.17 324,501.97 1.17
Kentucky................ 8 .49 71,606.00 .26
Louisiana............... 6 .37 140,685.10 .51
Maine................... 18 1.11 305,587.83 1.10
Maryland................ 23 1.42 427,418.81 1.54
Massachusetts........... 26 1.60 544,752.38 1.97
Michigan................ 76 4.68 1,153,585.22 4.16
Minnesota............... 28 1.73 438,028.98 1.58
Mississippi............. 6 .37 123,902.00 .45
Missouri................ 56 3.45 633,046.85 2.28
Montana................. 3 .18 34,484.45 .12
Nebraska................ 10 .62 199,605.37 .72
Nevada.................. 23 1.42 694,858.49 2.51
New Hampshire........... 16 .99 241,487.99 .87
New Jersey.............. 94 5.79 1,867,999.07 6.74
New Mexico.............. 12 .74 141,925.69 .51
New York................ 176 10.83 3,555,909.92 12.84
North Carolina.......... 20 1.23 287,762.99 1.04
North Dakota............ 2 .12 60,706.08 .22
Ohio.................... 73 4.50 1,046,391.20 3.78
Oklahoma................ 18 1.11 281,931.65 1.02
Oregon.................. 16 .99 217,917.60 .79
Pennsylvania............ 92 5.67 1,293,875.18 4.67
Rhode Island............ 9 .55 176,326.15 .64
South Carolina.......... 21 1.29 305,875.75 1.10
South Dakota............ 6 .37 100,685.84 .36
Tennessee............... 27 1.66 343,237.99 1.24
Texas................... 41 2.53 563,578.26 2.03
Utah.................... 4 .25 43,008.10 .16
Vermont................. 2 .12 47,533.00 .17
Virginia................ 38 2.34 518,573.42 1.87
Washington.............. 37 2.28 505,024.58 1.82
West Virginia........... 4 .25 75,113.00 .27
Wisconsin............... 10 .62 132,949.90 .48
Wyoming................. 20 1.23 284,690.11 1.03
----- ------ --------------- ------
Total............... 1,623 100.00% $ 27,710,119.73 100.00%
===== ====== =============== ======
</TABLE>
1
<PAGE>
YEARS OF ORIGINATION--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1989...................... 1 $ 26,780.23 .10%
1990...................... 1 16,746.00 .06
1991...................... 1 29,600.00 .11
1992...................... 0 .00 .00
1993...................... 0 .00 .00
1994...................... 0 .00 .00
1995...................... 0 .00 .00
1996...................... 0 .00 .00
1997...................... 1,620 27,636,993.50 99.73
----- --------------- ------
Total................. 1,623 $ 27,710,119.73 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $10,000........... 478 $ 3,316,221.38 11.97%
Between $10,000--$19,999.... 645 9,135,085.31 32.97
Between $20,000--$29,999.... 296 7,090,641.70 25.59
Between $30,000--$39,999.... 107 3,608,078.47 13.02
Between $40,000--$49,999.... 68 2,935,402.22 10.59
Between $50,000--$59,999.... 24 1,259,973.27 4.55
Between $60,000--$69,999.... 3 179,931.48 .65
Between $70,000--$79,999.... 0 .00 .00
Between $80,000--$89,999.... 1 87,145.43 .31
Over $90,000............. 1 97,640.47 .35
----- --------------- ------
Total................... 1,623 $ 27,710,119.73 100.00%
===== =============== ======
</TABLE>
CONTRACT RATES--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
-------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.00000%-- 9.00000%... 111 $ 1,827,070.86 6.59%
From 9.00001%--10.00000%... 133 3,252,449.42 11.74
From 10.00001%--11.00000%... 296 5,956,944.30 21.49
From 11.00001%--12.00000%... 202 3,712,084.32 13.40
From 12.00001%--13.00000%... 300 4,777,028.90 17.23
From 13.00001%--14.00000%... 299 3,879,744.09 14.00
From 14.00001%--15.00000%... 232 3,495,775.82 12.62
From 15.00001%--16.00000%... 46 771,861.27 2.79
From 16.00001%--17.00000%... 3 18,117.75 .07
Over 17.00001%.............. 1 19,043.00 .07
----- --------------- ------
Total................... 1,623 $ 27,710,119.73 100.00%
===== =============== ======
</TABLE>
2
<PAGE>
REMAINING MONTHS TO MATURITY--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT HOME
NUMBER OF IMPROVEMENT CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 31.............. 6 $ 24,417.82 0.09%
31-45..................... 13 58,155.10 0.21
46-60..................... 139 1,061,590.33 3.83
61-75..................... 16 192,348.50 0.69
76-90..................... 57 558,029.07 2.01
91-105.................... 24 202,227.58 0.73
106-120................... 467 5,862,656.51 21.16
121-135................... 1 8,662.90 0.03
136-150................... 18 187,544.51 0.68
151-165................... 4 72,824.00 0.26
166-180................... 391 7,400,757.50 26.71
181-195................... 1 9,377.46 0.03
196-210................... 1 11,018.61 0.04
211-225................... -- .00 0.00
226-240................... 209 4,631,784.63 16.72
241-255................... -- .00 0.00
256-270................... 1 11,856.00 0.04
271-285................... -- .00 0.00
286-300................... 275 7,416,869.21 26.77
----- --------------- ------
Total................. 1,623 $ 27,710,119.73 100.00%
===== =============== ======
</TABLE>
LIEN POSITION--SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME % OF SUBSEQUENT
IMPROVEMENT HOME IMPROVEMENT
NUMBER OF CONTRACTS BY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 144 8.87% $ 2,440,170.63 8.81%
Second.................. 1,189 73.27 20,524,464.48 74.07
Third................... 281 17.31 4,677,884.23 16.88
Fourth.................. 9 0.55 67,600.39 0.24
----- ------ --------------- ------
Total............... 1,623 100.00% $ 27,710,119.73 100.00%
===== ====== =============== ======
</TABLE>
3
<PAGE>
Set forth below is a description of certain additional characteristics of
the Subsequent Fixed-Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--SUBSEQUENT FIXED-RATE HOME
EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
% OF SUBSEQUENT FIXED-RATE
FIXED-RATE HOME EQUITY
HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 118 4.56% $ 5,826,619.43 4.32%
Arizona................. 20 0.77 1,195,517.18 0.89
Arkansas................ 15 0.58 753,475.92 0.56
California.............. 48 1.86 3,267,486.13 2.42
Colorado................ 47 1.82 2,876,190.82 2.13
Connecticut............. 39 1.51 3,286,782.44 2.43
Delaware................ 25 0.97 1,539,580.72 1.14
District of Columbia.... 6 0.23 250,493.22 0.19
Florida................. 178 6.90 8,338,930.21 6.18
Georgia................. 141 5.45 6,828,276.92 5.06
Idaho................... 2 0.08 30,065.16 0.02
Illinois................ 149 5.76 7,578,893.88 5.61
Indiana................. 75 2.90 3,341,447.24 2.48
Iowa.................... 57 2.21 3,037,520.28 2.25
Kansas.................. 38 1.47 1,705,038.89 1.26
Kentucky................ 37 1.43 1,689,237.08 1.25
Louisiana............... 34 1.32 1,488,776.30 1.10
Maine................... 1 0.04 50,000.00 0.04
Maryland................ 112 4.33 5,524,953.35 4.09
Massachusetts........... 22 0.85 1,286,079.71 0.95
Michigan................ 145 5.61 8,048,381.28 5.96
Minnesota............... 50 1.93 2,807,063.54 2.08
Mississippi............. 33 1.28 1,422,157.26 1.05
Missouri................ 83 3.21 3,398,372.33 2.52
Montana................. 3 0.12 143,813.84 0.11
Nebraska................ 30 1.16 1,479,793.13 1.10
Nevada.................. 15 0.58 829,818.17 0.61
New Hampshire........... 4 0.15 247,500.00 0.18
New Jersey.............. 50 1.93 3,168,111.63 2.35
New Mexico.............. 4 0.15 312,641.39 0.23
New York................ 114 4.41 6,884,331.43 5.10
North Carolina.......... 145 5.61 7,077,595.21 5.24
North Dakota............ 7 0.27 261,150.00 0.19
Ohio.................... 226 8.75 10,479,856.21 7.77
Oklahoma................ 16 0.62 507,566.16 0.38
Oregon.................. 13 0.50 517,694.48 0.38
Pennsylvania............ 140 5.42 8,962,269.78 6.64
Rhode Island............ 4 0.15 84,816.87 0.06
South Carolina.......... 96 3.71 4,660,411.24 3.45
South Dakota............ 6 0.23 141,747.00 0.10
Tennessee............... 49 1.90 2,965,718.71 2.20
Texas................... 13 0.50 580,962.80 0.43
Utah.................... 16 0.62 1,570,818.59 1.16
Virginia................ 83 3.21 4,922,202.28 3.65
Washington.............. 27 1.04 1,264,147.41 0.94
West Virginia........... 4 0.15 174,931.38 0.13
Wisconsin............... 40 1.55 1,905,025.55 1.41
Wyoming................. 3 0.12 189,067.61 0.14
Military Bases.......... 2 0.08 95,550.00 0.07
----- ------ --------------- ------
Total............... 2,585 100.00% $134,998,880.16 100.00%
===== ====== =============== ======
</TABLE>
4
<PAGE>
Years Of Origination--Subsequent Fixed-Rate Home Equity Contracts
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
1976................... 1 $ 15,013.92 0.01%
1977................... 3 67,750.08 0.05
1984................... 2 8,892.61 0.01
1986................... 1 15,326.43 0.01
1989................... 2 291,829.89 0.22
1990................... 2 134,277.39 0.10
1995................... 1 34,877.20 0.03
1996................... 7 229,555.19 0.17
1997................... 2,566 134,201,357.45 99.40
----- --------------- ------
Total.............. 2,585 $134,998,880.16 100.00%
===== =============== ======
</TABLE>
Distribution Of Original Contract Amounts--Subsequent Fixed-Rate Home Equity
Contracts
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than $ 9,999....................... 11 $ 81,336.39 0.06%
Between $ 9,999--$ 19,999............... 456 6,561,415.49 4.86
Between $ 19,999--$ 29,999............... 401 9,795,071.37 7.26
Between $ 29,999--$ 39,999............... 369 12,662,404.03 9.37
Between $ 39,999--$ 49,999............... 277 12,298,781.79 9.11
Between $ 49,999--$ 59,999............... 225 12,266,978.11 9.09
Between $ 59,999--$ 69,999............... 227 14,616,709.43 10.81
Between $ 69,999--$ 79,999............... 144 10,728,190.28 7.95
Between $ 79,999--$ 89,999............... 121 10,192,575.32 7.55
Between $ 89,999--$ 99,999............... 85 8,066,467.26 5.98
Between $ 99,999--$109,999............... 60 6,277,286.53 4.65
Between $109,999--$119,999............... 44 5,043,625.77 3.74
Between $119,999--$129,999............... 40 5,009,407.91 3.71
Between $129,999--$139,999............... 34 4,537,618.73 3.36
Between $139,999--$149,999............... 18 2,593,747.57 1.92
Between $149,999--$159,999............... 11 1,699,900.00 1.26
Between $159,999--$169,999............... 9 1,465,637.40 1.09
Between $169,999--$179,999............... 11 1,909,622.03 1.41
Between $179,999--$189,999............... 9 1,657,450.07 1.23
Between $189,999--$199,999............... 6 1,163,172.61 0.86
Between $199,999--$249,999............... 20 4,328,167.24 3.21
Between $249,999--$299,999............... 4 1,060,518.29 .79
Over $300,000.......................... 3 982,796.54 .73
----- --------------- ------
Total................................ 2,585 $134,998,880.16 100.00%
===== =============== ======
</TABLE>
5
<PAGE>
CONTRACT RATES--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME EQUITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- -------------------------- ---------- ------------------- --------------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 20 $ 1,856,541.07 1.38%
From 9.01%--10.00%....... 144 12,751,720.35 9.45
From 10.01%--11.00%....... 467 37,115,940.94 27.49
From 11.01%--12.00%....... 491 29,160,240.76 21.60
From 12.01%--13.00%....... 601 26,377,249.60 19.54
From 13.01%--14.00%....... 487 17,090,416.02 12.66
From 14.01%--15.00%....... 194 6,415,230.80 4.75
From 15.01%--16.00%....... 98 2,677,944.37 1.98
From 16.01%--17.00%....... 48 967,784.50 0.72
Over 17.01%............... 35 585,811.75 0.43
----- --------------- ------
Total................. 2,585 $134,998,880.16 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 181.......... 1,297 $ 55,614,587.66 41.19%
181-195................ 11 280,350.00 0.21
196-210................ 2 127,418.03 0.09
211-225................ 1 25,866.26 0.02
226-240................ 774 41,103,806.56 30.45
241-255................ -- -- 0.00
256-270................ 3 372,012.77 0.28
271-285................ -- -- 0.00
286-300................ 268 18,286,350.07 13.55
301-315................ -- -- 0.00
316-330................ 3 101,100.00 0.07
331-345................ 4 301,954.85 0.22
346-360................ 222 18,785,433.96 13.92
----- --------------- ------
Total.............. 2,585 $134,998,880.16 100.00%
===== =============== ======
</TABLE>
LIEN POSITION--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
FIXED-RATE
HOME EQUITY % OF SUBSEQUENT FIXED-RATE
NUMBER OF CONTRACTS BY HOME EQUITY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- --------------------------
<S> <C> <C> <C> <C>
First................... 1,421 54.97% $101,757,434.72 75.38%
Second.................. 1,139 44.06 32,648,132.52 24.18
Third................... 25 0.97 593,312.92 0.44
----- ------ --------------- ------
Total............... 2,585 100.00% $134,998,880.16 100.00%
===== ====== =============== ======
</TABLE>
6
<PAGE>
LOAN-TO-VALUE RATIO--SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-10.00%...... 3 $ 113,976.87 0.08%
From 10.01%-20.00%..... 3 64,941.25 0.05
From 20.01%-30.00%..... 6 137,438.89 0.10
From 30.01%-40.00%..... 17 367,425.18 0.27
From 40.01%-50.00%..... 32 1,140,837.51 0.85
From 50.01%-60.00%..... 58 2,391,031.10 1.77
From 60.01%-70.00%..... 122 5,429,203.90 4.02
From 70.01%-80.00%..... 322 15,838,768.65 11.73
From 80.01%-90.00%..... 946 51,485,474.07 38.14
Over 90.01%............ 1,076 58,029,782.74 42.99
----- --------------- ------
Total.............. 2,585 $134,998,880.16 100.00%
===== =============== ======
</TABLE>
7
<PAGE>
Set forth below is a description of certain additional characteristics of the
Subsequent Adjustable Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--SUBSEQUENT ADJUSTABLE RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
% OF SUBSEQUENT ADJUSTABLE
ADJUSTABLE RATE HOME
RATE HOME EQUITY CONTRACTS
EQUITY CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- ----------------- ------------------- -----------------
<S> <C> <C> <C> <C>
Alabama................. 12 7.85% $ 1,141,099.31 6.12%
Arizona................. 6 3.92 888,308.29 4.76
California.............. 11 7.19 2,125,775.16 11.39
Colorado................ 14 9.16 2,252,671.61 12.08
Connecticut............. 1 0.65 197,993.15 1.06
Florida................. 4 2.61 291,355.41 1.56
Georgia................. 6 3.92 1,145,209.32 6.14
Illinois................ 4 2.61 226,111.25 1.21
Indiana................. 2 1.31 158,665.01 0.85
Kansas.................. 4 2.61 373,127.73 2.00
Kentucky................ 1 0.65 69,750.00 0.37
Louisiana............... 2 1.31 178,370.62 0.96
Maryland................ 5 3.27 539,024.09 2.89
Massachusetts........... 1 0.65 99,200.00 0.53
Michigan................ 4 2.61 608,256.46 3.26
Missouri................ 3 1.96 242,350.00 1.30
Montana................. 1 0.65 80,817.29 0.43
New Mexico.............. 1 0.65 133,040.05 0.71
New York............... 5 3.27 462,547.01 2.48
North Carolina.......... 5 3.27 747,576.26 4.01
North Dakota............ 1 0.65 132,500.57 0.71
Ohio.................... 10 6.54 779,773.94 4.18
Oklahoma................ 2 1.31 147,949.09 0.79
Oregon.................. 8 5.23 1,128,213.82 6.05
Pennsylvania............ 2 1.31 170,471.62 0.91
South Carolina.......... 3 1.96 403,151.78 2.16
Texas................... 7 4.58 910,887.92 4.88
Utah.................... 3 1.96 442,379.53 2.37
Virginia................ 6 3.92 523,172.89 2.80
Washington.............. 18 11.77 1,957,403.40 10.49
Wisconsin............... 1 0.65 102,600.44 0.55
--- ------ --------------- ------
Total............... 153 100.00% $ 18,659,753.02 100.00%
=== ====== =============== ======
</TABLE>
8
<PAGE>
YEARS OF ORIGINATION--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1997...................... 153 $ 18,659,753.02 100.00%
--- --------------- ------
Total................. 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--SUBSEQUENT ADJUSTABLE RATE HOME
EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF SUBSEQUENT
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AMOUNT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
(IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------------ ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $ 19,999......................... 1 $ 17,000.00 0.09%
Between $ 19,999--$ 29,999................. 1 21,586.58 0.12
Between $ 29,999--$ 39,999................. 2 70,550.00 0.38
Between $ 39,999--$ 49,999................. 11 496,075.46 2.66
Between $ 49,999--$ 59,999................. 6 334,391.50 1.79
Between $ 59,999--$ 69,999................. 4 270,177.73 1.45
Between $ 69,999--$ 79,999................. 17 1,278,125.68 6.85
Between $ 79,999--$ 89,999................. 16 1,335,788.76 7.16
Between $ 89,999--$ 99,999................. 12 1,143,417.67 6.13
Between $ 99,999--$109,999................. 9 942,374.21 5.05
Between $109,999--$119,999................. 6 680,473.54 3.65
Between $119,999--$129,999................. 9 1,118,772.40 6.00
Between $129,999--$139,999................. 12 1,601,506.83 8.58
Between $139,999--$149,999................. 8 1,150,413.79 6.17
Between $149,999--$159,999................. 4 625,881.33 3.35
Between $159,999--$169,999................. 4 657,299.60 3.52
Between $169,999--$179,999................. 4 696,217.43 3.73
Between $179,999--$189,999................. 4 736,614.57 3.95
Between $189,999--$199,999................. 6 1,173,469.27 6.29
Between $199,999--$249,999................. 9 1,992,465.17 10.67
Between $249,999--$299,999................. 6 1,641,651.50 8.79
Over $300,000.............................. 2 675,500.00 3.62
--- --------------- ------
Total.................................. 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
9
<PAGE>
CONTRACT RATES--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF CONTRACTS BY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 69 $ 9,486,822.72 50.85%
From 9.01%--10.00%....... 38 4,573,557.53 24.51
From 10.01%--11.00%....... 22 2,598,153.08 13.92
From 11.01%--12.00%....... 17 1,362,528.70 7.30
From 12.01%--13.00%....... 7 638,690.99 3.42
Over 13.01%............... 0 0.00 0.00
--- --------------- ------
Total................. 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--SUBSEQUENT ADJUSTABLE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 346............. 0 $ 0.00 0.00%
346-360................... 153 18,659,753.02 100.00
--- -------------- ------
Total................. 153 18,659,753.02 100.00%
=== ============== ======
</TABLE>
LIEN POSITION--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE % OF
RATE HOME SUBSEQUENT
EQUITY ADJUSTABLE RATE HOME
NUMBER OF CONTRACTS BY EQUITY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 153 100.00% $ 18,659,753.02 100.00%
--- ------ --------------- ------
Total............... 153 100.00% $ 18,659,753.02 100.00%
=== ====== =============== ======
</TABLE>
10
<PAGE>
LOAN-TO-VALUE RATIO--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 40.00%.......... 0 $ 0.00 0.00%
From 40.01% to 50.00%..... 4 234,414.97 1.26
From 50.01% to 60.00%..... 1 74,965.01 0.40
From 60.01% to 70.00%..... 5 353,910.03 1.90
From 70.01% to 80.00%..... 53 5,845,210.53 31.33
From 80.01% to 90.00%..... 82 11,002,666.89 58.95
Over 90.00%............... 8 1,148,585.59 6.16
--- --------------- ------
Total................. 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
MONTH OF NEXT RATE ADJUSTMENT--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MONTH OF NEXT RATE ADJUSTMENT OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ----------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
December 1997............... 1 $ 130,255.07 0.70%
January 1998................ 4 560,650.27 3.00
February 1998............... 4 359,677.46 1.93
March 1998.................. 2 343,231.51 1.84
April 1998.................. 5 548,050.00 2.94
May 1998.................... 1 97,732.12 0.52
April 1999.................. 1 251,551.50 1.35
May 1999.................... 2 165,477.98 0.89
June 1999................... 4 519,006.98 2.78
July 1999................... 18 1,852,464.98 9.93
August 1999................. 16 1,730,510.80 9.27
September 1999.............. 16 1,858,635.86 9.96
October 1999................ 53 6,958,908.49 37.29
November 1999............... 24 3,185,400.00 17.07
December 1999............... 2 98,200.00 0.53
--- --------------- ------
Total................... 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
11
<PAGE>
DISTRIBUTION OF GROSS MARGIN--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
GROSS MARGIN OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------ ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 4.749%....... 1 $ 126,780.41 0.68%
4.750 to 4.999%........ 11 1,195,793.94 6.41
5.000 to 5.249%........ 4 485,104.34 2.60
5.250 to 5.499%........ 25 3,400,180.89 18.23
5.500 to 5.749%........ 16 2,197,113.46 11.77
5.750 to 5.999%........ 13 1,432,883.28 7.68
6.000 to 6.249%........ 12 934,324.77 5.01
6.250 to 6.499%........ 11 1,343,811.55 7.20
6.500 to 6.749%........ 10 855,202.29 4.58
6.750 to 6.999%........ 29 4,462,454.88 23.92
7.000 to 7.249%........ 2 140,750.00 0.75
7.250 to 7.499%........ 12 1,161,146.16 6.22
7.500 to 7.749%........ 4 615,493.23 3.30
7.750 to 7.999%........ 2 121,500.00 0.65
8.000 to 8.249%........ - 0.00 0.00
8.250 to 8.499%........ - 0.00 0.00
8.500 to 8.749%........ - 0.00 0.00
8.750 to 8.999%........ - 0.00 0.00
9.000 to 9.249%........ - 0.00 0.00
9.250 to 9.499%........ - 0.00 0.00
9.500 to 9.749%........ - 0.00 0.00
Over 9.749%............ 1 187,213.82 1.00
--- --------------- ------
Total.............. 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
12
<PAGE>
MAXIMUM CONTRACT RATES--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MAXIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 14.449%...... 7 $ 863,567.01 4.63%
14.500 to 14.749%...... 8 962,450.60 5.16
14.750 to 14.999%...... 26 3,590,997.58 19.25
15.000 to 15.249%...... 21 2,446,159.59 13.12
15.250 to 15.499%...... 9 1,364,871.36 7.31
15.500 to 15.749%...... 7 1,158,900.00 6.21
15.750 to 15.999%...... 17 2,015,767.76 10.81
16.000 to 16.249%...... 3 219,014.32 1.17
16.250 to 16.499%...... 9 1,350,644.92 7.24
16.500 to 16.749%...... 2 234,200.00 1.26
16.750 to 16.999%...... 9 1,129,225.75 6.05
17.000 to 17.249%...... 6 551,195.28 2.95
17.250 to 17.499%...... 6 730,464.34 3.91
17.500 to 17.749%...... 4 304,464.31 1.63
17.750 to 17.999%...... 8 695,513.67 3.73
18.000 to 18.249%...... 2 187,529.88 1.00
18.250 to 18.499%...... 2 108,953.03 0.58
18.500 to 18.749%...... 1 97,732.12 0.52
18.750 to 18.999%...... 3 481,801.50 2.58
19.000 to 19.249%...... 1 47,250.00 0.25
19.250 to 19.499%...... 1 42,250.00 0.23
19.500 to 19.749%...... 1 76,800.00 0.41
Over 19.749%........... 0 0.00 0.00
--- --------------- ------
Total.............. 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
13
<PAGE>
MINIMUM CONTRACT RATES--SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
SUBSEQUENT
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MINIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 7.250%...... 6 $ 686,200.00 3.68%
7.250 to 7.499%...... 1 85,500.00 0.46
7.500 to 7.749%...... 2 317,500.00 1.70
7.750 to 7.999%...... 12 2,078,050.00 11.13
8.000 to 8.249%...... 4 604,900.00 3.24
8.250 to 8.499%...... 7 1,141,425.02 6.12
8.500 to 8.749%...... 9 1,351,950.60 7.25
8.750 to 8.999%...... 16 1,947,649.11 10.43
9.000 to 9.249%...... 18 1,890,759.59 10.13
9.250 to 9.499%...... 6 1,047,654.98 5.61
9.500 to 9.749%...... 4 451,900.00 2.42
9.750 to 9.999%...... 21 2,439,890.95 13.07
10.000 to 10.249%...... 5 488,431.33 2.62
10.250 to 10.499%...... 7 963,786.28 5.17
10.500 to 10.749%...... 4 484,700.00 2.60
10.750 to 10.999%...... 6 595,864.85 3.19
11.000 to 11.249%...... 3 269,645.28 1.45
11.250 to 11.499%...... 5 326,914.34 1.75
11.500 to 11.749%...... 3 173,964.31 0.93
11.750 to 11.999%...... 6 534,799.85 2.87
12.000 to 12.249%...... 3 234,779.88 1.26
12.250 to 12.499%...... 2 117,403.03 0.63
12.500 to 12.749%...... 2 174,532.12 0.94
12.750 to 12.999%...... 1 251,551.50 1.35
Over 12.999%........... 0 0.00 0.00
--- --------------- ------
Total................ 153 $ 18,659,753.02 100.00%
=== =============== ======
</TABLE>
14
<PAGE>
Set forth below is a description of certain additional characteristics of
the Initial and Subsequent Home Improvement Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--INITIAL AND SUBSEQUENT
HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME
% OF HOME IMPROVEMENT
IMPROVEMENT CONTRACTS BY
CONTRACTS BY AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 67 0.88% $ 1,111,648.74 .82%
Alaska.................. 9 0.12 212,752.27 .16
Arizona................. 313 4.11 6,374,902.30 4.72
Arkansas................ 94 1.24 1,236,097.59 .92
California.............. 801 10.53 24,124,341.29 17.86
Colorado................ 360 4.73 4,390,434.73 3.25
Connecticut............. 264 3.47 4,129,462.64 3.06
Delaware................ 49 0.64 1,028,316.20 .76
District of Columbia.... 8 0.11 174,052.17 .13
Florida................. 454 5.97 8,101,435.60 6.00
Georgia................. 75 0.99 1,192,174.31 .88
Idaho................... 10 0.13 146,896.86 .11
Illinois................ 309 4.06 4,701,554.91 3.48
Indiana................. 165 2.17 2,301,941.38 1.71
Iowa.................... 46 0.60 496,231.71 .37
Kansas.................. 78 1.03 1,148,248.52 .85
Kentucky................ 39 0.51 591,118.52 .44
Louisiana............... 34 0.45 710,698.04 .53
Maine................... 104 1.37 1,394,678.71 1.03
Maryland................ 119 1.56 2,145,211.99 1.59
Massachusetts........... 120 1.58 2,249,077.48 1.67
Michigan................ 446 5.86 7,619,635.25 5.64
Minnesota............... 86 1.13 1,387,945.60 1.03
Mississippi............. 23 0.30 420,289.30 .31
Missouri................ 247 3.25 3,154,939.19 2.34
Montana................. 16 0.21 213,851.31 .16
Nebraska................ 22 0.29 338,300.94 .25
Nevada.................. 117 1.54 3,203,660.61 2.37
New Hampshire........... 68 0.89 1,090,523.25 .81
New Jersey.............. 408 5.36 7,564,327.71 5.60
New Mexico.............. 47 0.62 715,592.88 .53
New York................ 611 8.03 11,303,553.56 8.37
North Carolina.......... 112 1.47 1,489,617.71 1.10
North Dakota............ 13 0.17 265,664.54 .20
Ohio.................... 297 3.90 4,022,810.46 2.98
Oklahoma................ 74 0.97 1,155,372.90 .86
Oregon.................. 73 0.96 1,079,966.96 .80
Pennsylvania............ 422 5.55 6,860,383.75 5.08
Rhode Island............ 27 0.35 479,501.67 .36
South Carolina.......... 72 0.95 1,167,277.48 .86
South Dakota............ 17 0.22 224,909.45 .17
Tennessee............... 125 1.64 1,700,681.38 1.26
Texas................... 263 3.46 4,285,297.50 3.17
Utah.................... 14 0.18 142,629.11 .11
Vermont................. 16 0.21 244,077.89 .18
Virginia................ 172 2.26 2,806,536.06 2.08
Washington.............. 193 2.54 2,659,872.63 1.97
West Virginia........... 11 0.14 172,129.83 .13
Wisconsin............... 39 0.51 508,497.49 .38
Wyoming................. 60 0.79 754,198.73 .56
----- ------ --------------- ------
Total............... 7,609 100.00% $134,993,321.10 100.00%
===== ====== =============== ======
</TABLE>
15
<PAGE>
YEARS OF ORIGINATION--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1989...................... 1 $ 26,780.23 .02%
1990...................... 2 50,068.03 .04
1991...................... 1 29,600.00 .02
1992...................... 0 .00 .00
1993...................... 0 .00 .00
1994...................... 0 .00 .00
1995...................... 0 .00 .00
1996...................... 39 1,575,794.75 1.17
1997...................... 7,566 133,311,078.09 98.75
----- --------------- ------
Total................. 7,609 $134,993,321.10 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--INITIAL AND SUBSEQUENT HOME
IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $ 10,000........... 2,010 $ 14,133,276.25 10.47%
Between $ 10,000--$ 19,999... 3,144 45,009,342.41 33.35
Between $ 20,000--$ 29,999... 1,496 35,801,172.21 26.52
Between $ 30,000--$ 39,999... 528 17,672,738.14 13.09
Between $ 40,000--$ 49,999... 243 10,451,503.55 7.74
Between $ 50,000--$ 59,999... 112 5,865,289.10 4.34
Between $ 60,000--$ 69,999... 39 2,412,473.17 1.79
Between $ 70,000--$ 79,999... 18 1,350,365.24 1.00
Between $ 80,000--$ 89,999... 4 332,744.90 .25
Between $ 90,000--$ 99,999... 3 284,519.05 .21
Between $100,000--$109,999... 2 205,087.14 .15
Between $110,000--$119,999... 1 117,309.90 .09
Between $120,000--$129,999... 3 376,791.51 .28
Between $130,000--$139,999... 1 137,187.39 .10
Between $140,000--$149,999... 1 149,419.11 .11
Between $150,000--$159,999... 1 151,755.29 .11
Between $160,000--$169,999... 1 163,247.99 .12
Between $170,000--$179,999... 1 175,761.10 .13
Between $180,000--$189,999... 0 .00 .00
Between $190,000--$199,999... 0 .00 .00
Over $200,000............. 1 203,337.65 .15
----- --------------- ------
Total.................... 7,609 $134,993,321.10 100.00%
===== =============== ======
</TABLE>
CONTRACT RATES--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME IMPROVEMENT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
-------------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.0000%-- 8.00000%... 6 $ 218,715.55 .16%
From 8.00001%-- 9.00000%... 286 5,472,309.62 4.05
From 9.00001%--10.00000%... 1,171 30,971,159.47 22.94
From 10.00001%--11.00000%... 1,844 37,028,292.23 27.43
From 11.00001%--12.00000%... 1,060 18,618,031.44 13.79
From 12.00001%--13.00000%... 1,350 19,675,556.56 14.58
From 13.00001%--14.00000%... 1,123 12,538,620.75 9.29
From 14.00001%--15.00000%... 631 8,595,487.30 6.37
From 15.00001%--16.00000%... 115 1,622,492.95 1.20
From 16.00001%--17.00000%... 21 225,793.23 .17
Over 17.00001%.............. 2 26,862.00 .02
----- --------------- ------
Total................... 7,609 $134,993,321.10 100.00%
===== =============== ======
</TABLE>
16
<PAGE>
REMAINING MONTHS TO MATURITY--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME IMPROVEMENT
NUMBER OF CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 31.............. 30 $ 179,635.26 0.13%
31-60..................... 606 4,839,106.13 3.58
61-90..................... 319 2,936,585.64 2.18
91-120.................... 2,180 27,347,961.96 20.26
121-150................... 72 946,891.75 0.70
151-180................... 1,861 33,988,088.12 25.18
181-210................... 8 125,463.50 0.09
211-240................... 949 20,353,922.32 15.08
241-270................... 2 22,774.29 0.02
271-300................... 1,581 44,185,248.61 32.73
301-330................... - 0.00 0.00
331-360................... 1 67,643.52 0.05
----- --------------- ------
Total................. 7,609 $134,993,321.10 100.00%
===== =============== ======
</TABLE>
LIEN POSITION--INITIAL AND SUBSEQUENT HOME IMPROVEMENT CONTRACTS
<TABLE>
<CAPTION>
% OF HOME % OF HOME
IMPROVEMENT IMPROVEMENT
NUMBER OF CONTRACTS BY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 543 7.14% $ 8,647,921.02 6.41%
Second.................. 5,613 73.76 102,044,022.36 75.59
Third................... 1,422 18.69 24,089,267.04 17.84
Fourth.................. 31 0.41 212,110.68 0.16
----- ------ --------------- ------
Total............... 7,609 100.00% $134,993,321.10 100.00%
===== ====== =============== ======
</TABLE>
17
<PAGE>
Set forth below is a description of certain additional characteristics of
the Initial and Subsequent Fixed-Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--INITIAL AND SUBSEQUENT
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
% OF FIXED-RATE
FIXED-RATE HOME EQUITY
HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 529 4.73% $ 24,178,254.65 4.24%
Arizona................. 103 0.92 5,221,597.07 0.92
Arkansas................ 64 0.57 2,945,078.86 0.52
California.............. 256 2.29 14,209,369.02 2.49
Colorado................ 151 1.35 9,037,906.14 1.59
Connecticut............. 187 1.67 13,813,183.60 2.42
Delaware................ 62 0.55 3,963,593.07 0.70
District of Columbia.... 33 0.30 1,875,587.79 0.33
Florida................. 702 6.28 31,561,421.01 5.54
Georgia................. 678 6.06 33,667,282.36 5.90
Idaho................... 30 0.27 1,299,358.31 0.23
Illinois................ 559 5.00 30,343,660.86 5.32
Indiana................. 293 2.62 12,130,518.51 2.13
Iowa.................... 248 2.22 11,198,267.01 1.96
Kansas.................. 209 1.87 9,185,751.59 1.61
Kentucky................ 154 1.38 7,099,618.38 1.25
Louisiana............... 188 1.68 7,593,318.88 1.33
Maine................... 24 0.21 1,524,740.11 0.27
Maryland................ 406 3.63 19,904,559.09 3.49
Massachusetts........... 105 0.94 5,902,662.38 1.04
Michigan................ 526 4.70 30,743,200.05 5.39
Minnesota............... 216 1.93 9,606,559.24 1.69
Mississippi............. 153 1.37 6,253,701.67 1.10
Missouri................ 418 3.74 17,748,883.34 3.11
Montana................. 14 0.13 786,729.82 0.14
Nebraska................ 129 1.15 5,916,834.78 1.04
Nevada.................. 74 0.66 4,942,739.46 0.87
New Hampshire........... 16 0.14 935,240.04 0.16
New Jersey.............. 202 1.81 13,468,739.42 2.36
New Mexico.............. 33 0.30 1,481,606.79 0.26
New York................ 474 4.24 29,403,361.13 5.16
North Carolina.......... 663 5.93 33,236,190.67 5.83
North Dakota............ 23 0.21 905,393.34 0.16
Ohio.................... 916 8.19 43,440,835.18 7.61
Oklahoma................ 83 0.74 2,972,622.77 0.52
Oregon.................. 91 0.81 3,828,666.33 0.67
Pennsylvania............ 586 5.24 33,700,403.73 5.91
Rhode Island............ 24 0.21 1,029,831.76 0.18
South Carolina.......... 377 3.37 18,589,590.72 3.26
South Dakota............ 21 0.19 768,637.27 0.13
Tennessee............... 211 1.89 13,817,172.74 2.42
Texas................... 75 0.67 2,832,741.34 0.50
Utah.................... 55 0.49 3,463,216.77 0.61
Vermont................. 16 0.14 456,997.74 0.08
Virginia................ 419 3.75 24,208,328.99 4.25
Washington.............. 161 1.44 7,576,272.73 1.33
West Virginia........... 27 0.24 1,410,569.80 0.25
Wisconsin............... 183 1.64 9,102,469.69 1.60
Wyoming................. 13 0.12 607,772.97 0.11
Military Bases.......... 2 0.02 95,550.00 0.02
------ ------ --------------- ------
Total............... 11,182 100.00% $569,986,588.97 100.00%
====== ====== =============== ======
</TABLE>
18
<PAGE>
YEARS OF ORIGINATION--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
1968................... 1 $ 735.72 *%
1975................... 2 13,909.83 *
1976................... 4 80,486.25 0.01
1977................... 4 88,526.74 0.02
1978................... 2 43,600.60 0.01
1983................... 1 1,505.42 *
1984................... 2 8,892.61 *
1986................... 4 82,079.01 0.01
1989................... 3 302,900.71 0.05
1990................... 2 134,277.39 0.02
1994................... 1 15,020.87 *
1995................... 4 231,936.86 0.04
1996................... 17 686,655.55 0.13
1997................... 11,135 568,296,061.41 99.71
------ --------------- ------
Total.............. 11,182 $569,986,588.97 100.00%
====== =============== ======
</TABLE>
- --------
*Indicates an amount greater than zero but less than .005% of the aggregate
principal balance of the Initial Fixed-Rate Home Equity Contracts as of the
Cut-off Date.
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--INITIAL AND SUBSEQUENT
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than $ 9,999....................... 103 $ 667,786.00 0.12%
Between $ 9,999--$ 19,999............... 2,095 30,619,142.12 5.37
Between $ 19,999--$ 29,999............... 1,855 45,384,540.40 7.96
Between $ 29,999--$ 39,999............... 1,553 53,310,693.29 9.35
Between $ 39,999--$ 49,999............... 1,144 51,035,984.07 8.95
Between $ 49,999--$ 59,999............... 1,003 54,722,445.59 9.60
Between $ 59,999--$ 69,999............... 852 54,795,324.54 9.61
Between $ 69,999--$ 79,999............... 628 46,602,860.86 8.18
Between $ 79,999--$ 89,999............... 466 39,317,533.10 6.90
Between $ 89,999--$ 99,999............... 334 31,546,060.96 5.53
Between $ 99,999--$109,999............... 243 25,456,331.33 4.47
Between $109,999--$119,999............... 203 23,295,307.54 4.09
Between $119,999--$129,999............... 169 21,039,446.58 3.69
Between $129,999--$139,999............... 135 18,104,197.74 3.18
Between $139,999--$149,999............... 85 12,270,963.35 2.15
Between $149,999--$159,999............... 70 10,825,636.73 1.90
Between $159,999--$169,999............... 38 6,215,209.16 1.09
Between $169,999--$179,999............... 46 8,024,020.06 1.41
Between $179,999--$189,999............... 33 6,066,829.59 1.06
Between $189,999--$199,999............... 29 5,623,816.44 0.99
Between $199,999--$249,999............... 65 14,373,762.25 2.52
Between $249,999--$299,999............... 15 4,022,855.91 0.71
Over $300,000.......................... 18 6,665,841.36 1.17
------ --------------- ------
Total................................ 11,182 $569,986,588.97 100.00%
====== =============== ======
</TABLE>
19
<PAGE>
CONTRACT RATES--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF HOME EQUITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACTS BY CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- -------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 72 $ 6,329,811.21 1.11%
From 9.01%--10.00%....... 550 47,034,364.41 8.25
From 10.01%--11.00%....... 1,922 155,526,847.65 27.29
From 11.01%--12.00%....... 2,123 123,807,912.54 21.72
From 12.01%--13.00%....... 2,774 120,755,717.72 21.19
From 13.01%--14.00%....... 2,132 74,311,231.01 13.04
From 14.01%--15.00%....... 838 25,462,539.80 4.47
From 15.01%--16.00%....... 405 10,341,561.17 1.81
From 16.01%--17.00%....... 226 3,841,429.91 0.67
Over 17.01%............... 140 2,575,173.55 0.45
------ --------------- ------
Total................. 11,182 $569,986,588.97 100.00%
====== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--INITIAL AND SUBSEQUENT FIXED-RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 181.......... 5,929 $245,102,005.92 43.00%
181-195................ 17 387,777.81 0.07
196-210................ 4 246,573.03 0.04
211-225................ 7 540,710.26 0.09
226-240................ 3,191 167,506,757.32 29.39
241-255................ - - 0.00
256-270................ 5 635,442.77 0.11
271-285................ - - 0.00
286-300................ 971 66,176,843.04 11.61
301-315................ - - 0.00
316-330................ 5 276,100.00 0.05
331-345................ 7 542,798.90 0.10
346-360................ 1,046 88,571,579.92 15.54
------ --------------- ------
Total.............. 11,182 $569,986,588.97 100.00%
====== =============== ======
</TABLE>
LIEN POSITION--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
FIXED-RATE
HOME EQUITY % OF FIXED-RATE
NUMBER OF CONTRACTS BY HOME EQUITY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ------------------------
<S> <C> <C> <C> <C>
First................... 5,959 53.30% $424,891,032.94 74.55%
Second.................. 5,123 45.81 143,260,882.56 25.13
Third................... 100 0.89 1,834,673.47 0.32
------ ------ --------------- ------
Total............... 11,182 100.00% $589,986,588.97 100.00%
====== ====== =============== ======
</TABLE>
20
<PAGE>
LOAN-TO-VALUE RATIO--INITIAL AND SUBSEQUENT FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF FIXED-RATE
NUMBER OF HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-10.00%...... 9 $ 303,041.35 0.05%
From 10.01%-20.00%..... 45 806,069.80 0.14
From 20.01%-30.00%..... 51 1,356,946.69 0.24
From 30.01%-40.00%..... 79 2,601,105.84 0.46
From 40.01%-50.00%..... 150 5,588,790.82 0.98
From 50.01%-60.00%..... 228 8,882,045.38 1.56
From 60.01%-70.00%..... 515 23,144,713.59 4.06
From 70.01%-80.00%..... 1,440 73,145,444.75 12.83
From 80.01%-90.00%..... 3,987 210,480,400.04 36.93
Over 90.01%............ 4,678 243,678,030.71 42.75
------ --------------- ------
Total.............. 11,182 $569,986,588.97 100.00%
====== =============== ======
</TABLE>
21
<PAGE>
Set forth below is a description of certain additional characteristics of the
Initial and Subsequent Adjustable Rate Home Equity Contracts.
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--INITIAL AND SUBSEQUENT
ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
% OF ADJUSTABLE
ADJUSTABLE RATE HOME
RATE HOME EQUITY CONTRACTS
EQUITY CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- ----------------- ------------------- -----------------
<S> <C> <C> <C> <C>
Alabama................. 40 3.49% $ 3,062,898.04 2.36%
Arizona................. 29 2.53 3,556,899.95 2.74
Arkansas................ 5 0.44 409,322.08 0.31
California.............. 78 6.81 14,291,811.58 11.01
Colorado................ 33 2.88 4,796,276.09 3.69
Connecticut............. 10 0.87 1,163,267.27 0.89
Delaware................ 4 0.35 412,776.31 0.32
District of Columbia.... 3 0.26 391,781.52 0.30
Florida................. 43 3.76 5,072,112.28 3.90
Georgia................. 57 4.98 6,596,444.43 5.08
Idaho................... 12 1.05 1,222,048.87 0.94
Illinois................ 69 6.03 7,212,771.29 5.55
Indiana................. 17 1.48 1,511,990.21 1.16
Iowa.................... 2 0.17 289,350.00 0.22
Kansas.................. 11 0.96 1,143,684.00 0.88
Kentucky................ 9 0.79 645,208.16 0.50
Louisiana............... 5 0.44 419,886.50 0.32
Maine................... 7 0.61 622,243.10 0.48
Maryland................ 59 5.15 9,134,962.41 7.03
Massachusetts........... 18 1.57 2,473,002.08 1.90
Michigan................ 55 4.80 4,532,739.83 3.49
Minnesota............... 12 1.05 1,172,497.78 0.90
Mississippi............. 1 0.09 76,457.34 0.06
Missouri................ 23 2.01 1,944,617.26 1.50
Montana................. 1 0.09 80,817.29 0.06
Nebraska................ 1 0.09 56,913.83 0.04
Nevada.................. 13 1.14 1,721,976.86 1.32
New Hampshire........... 8 0.70 1,113,895.31 0.86
New Jersey.............. 28 2.45 3,672,592.37 2.83
New Mexico.............. 6 0.52 610,787.95 0.47
New York................ 16 1.40 2,076,859.51 1.60
North Carolina.......... 29 2.53 2,678,855.78 2.06
North Dakota............ 2 0.17 230,100.57 0.18
Ohio.................... 76 6.64 5,823,647.04 4.48
Oklahoma................ 17 1.48 1,564,880.71 1.20
Oregon.................. 39 3.41 4,924,605.18 3.79
Pennsylvania............ 15 1.31 1,051,051.19 0.81
Rhode Island............ 14 1.22 1,613,717.52 1.24
South Carolina.......... 15 1.31 1,394,750.44 1.07
Tennessee............... 9 0.79 720,905.24 0.55
Texas................... 82 7.16 7,452,804.27 5.73
Utah.................... 22 1.92 2,603,672.89 2.00
Vermont................. 1 0.09 112,457.64 0.09
Virginia................ 41 3.58 5,834,115.41 4.49
Washington.............. 94 8.21 11,477,404.05 8.83
West Virginia........... 7 0.61 509,517.09 0.39
Wisconsin............... 7 0.61 494,039.36 0.38
----- ------ --------------- ------
Total............... 1,145 100.00% $129,975,415.88 100.00%
===== ====== =============== ======
</TABLE>
22
<PAGE>
YEARS OF ORIGINATION--INITIAL AND SUBSEQUENT ADJUSTABLE RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
1997...................... 1,145 $129,975,415.88 100.00%
----- --------------- ------
Total................. 1,145 $129,975,415.88 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--INITIAL AND SUBSEQUENT ADJUSTABLE
RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AMOUNT AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
(IN DOLLARS) OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------------ ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $ 19,999........ 6 $ 103,786.76 .08%
Between $ 19,999--
$ 29,999................. 18 442,339.07 .34
Between $ 29,999--
$ 39,999................. 39 1,372,311.81 1.06
Between $ 39,999--
$ 49,999................. 72 3,296,306.53 2.54
Between $ 49,999--
$ 59,999................. 78 4,289,352.85 3.30
Between $ 59,999--
$ 69,999................. 73 4,723,518.15 3.63
Between $ 69,999--
$ 79,999................. 90 6,758,744.90 5.20
Between $ 79,999--
$ 89,999................. 108 9,089,781.95 6.99
Between $ 89,999--
$ 99,999................. 100 9,507,289.51 7.31
Between $ 99,999--
$109,999................. 74 7,778,361.52 5.98
Between $109,999--
$119,999................. 66 7,544,497.16 5.80
Between $119,999--
$129,999................. 67 8,355,865.04 6.43
Between $129,999--
$139,999................. 52 6,986,937.25 5.38
Between $139,999--
$149,999................. 49 7,074,772.50 5.44
Between $149,999--
$159,999................. 37 5,734,917.25 4.41
Between $159,999--
$169,999................. 35 5,759,682.24 4.43
Between $169,999--
$179,999................. 25 4,353,165.46 3.35
Between $179,999--
$189,999................. 31 5,712,681.38 4.40
Between $189,999--
$199,999................. 16 3,115,740.86 2.40
Between $199,999--
$249,999................. 57 12,711,500.43 9.79
Between $249,999--
$299,999................. 36 9,774,732.72 7.52
Over $300,000............. 16 5,489,130.54 4.22
----- --------------- ------
Total................. 1,145 $129,975,415.88 100.00%
===== =============== ======
</TABLE>
23
<PAGE>
CONTRACT RATES--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
HOME EQUITY
NUMBER OF CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RANGE OF CONTRACTS BY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
CONTRACT RATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 235 $ 31,842,438.15 24.50%
From 9.01%--10.00%....... 324 40,088,639.76 30.84
From 10.01%--11.00%....... 382 40,492,694.49 31.16
From 11.01%--12.00%....... 159 14,368,165.96 11.05
From 12.01%--13.00%....... 39 2,817,554.83 2.17
From 13.01%--14.00%....... 6 365,922.69 0.28
Over 14.01%............... 0 0.00 0.00
----- --------------- ------
Total................. 1,145 $ 129,975,415.88 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
MONTHS REMAINING TO CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 346............. 0 $ 0.00 0.00%
346-360................... 1,145 129,975,415.88 100.00%
----- -------------- ------
Total................. 1,145 $129,975,415.88 100.00%
===== ============== ======
</TABLE>
LIEN POSITION--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE
RATE HOME % OF
EQUITY ADJUSTABLE RATE HOME
NUMBER OF CONTRACTS BY EQUITY CONTRACTS BY
CONTRACTS NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- CONTRACTS AS OF BALANCE OUTSTANDING BALANCE AS OF
OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
---------- --------------- ------------------- ---------------------
<S> <C> <C> <C> <C>
First................... 1,145 100.00% $129,975,415.88 100.00%
----- ------ --------------- ------
Total............... 1,145 100.00% $129,975,415.88 100.00%
===== ====== =============== ======
</TABLE>
24
<PAGE>
LOAN-TO-VALUE RATIO--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE HOME
NUMBER OF EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ---------- ------------------- ---------------------
<S> <C> <C> <C>
Less than 30.00%.......... 3 $ 251,252.52 0.19%
From 30.01% to 40.00%..... 7 289,065.74 0.22
From 40.01% to 50.00%..... 12 638,286.23 0.49
From 50.01% to 60.00%..... 11 796,754.86 0.61
From 60.01% to 70.00%..... 51 4,155,009.65 3.20
From 70.01% to 80.00%..... 346 36,944,990.30 28.42
From 80.01% to 90.00%..... 632 76,616,504.81 58.96
Over 90.00%............... 83 10,283,551.77 7.91
----- --------------- ------
Total................. 1,145 $129,975,415.88 100.00%
===== =============== ======
</TABLE>
MONTH OF NEXT RATE ADJUSTMENT--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME
EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MONTH OF NEXT RATE ADJUSTMENT OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ----------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
December 1997............... 17 $ 1,606,253.26 1.24%
January 1998................ 40 4,192,943.97 3.23
February 1998............... 62 6,722,285.52 5.17
March 1998.................. 58 5,703,974.16 4.39
April 1998.................. 35 3,376,964.42 2.60
May 1998.................... 6 583,835.60 0.45
September 1998.............. 4 429,977.43 0.33
March 1999.................. 4 378,069.70 0.29
April 1999.................. 7 1,155,123.03 0.89
May 1999.................... 11 1,053,366.59 0.81
June 1999................... 44 5,227,459.79 4.02
July 1999................... 159 17,925,648.55 13.79
August 1999................. 249 26,453,617.79 20.35
September 1999.............. 247 30,531,398.78 23.48
October 1999................ 161 19,637,120.61 15.11
November 1999............... 27 3,480,900.00 2.68
December 1999............... 2 98,200.00 0.08
April 2000.................. 1 159,855.07 0.12
July 2000................... 1 60,320.40 0.05
August 2000................. 4 499,355.16 0.38
September 2000.............. 6 698,746.05 0.54
----- --------------- ------
Total................... 1,145 $129,975,415.88 100.00%
===== =============== ======
</TABLE>
25
<PAGE>
DISTRIBUTION OF GROSS MARGIN--INITIAL AND SUBSEQUENT ADJUSTABLE
RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
GROSS MARGIN OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------ ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 3.999%....... 1 $ 132,827.41 0.10%
4.000 to 4.249%........ 3 256,647.65 0.20
4.250 to 4.499%........ 3 512,171.77 0.39
4.500 to 4.749%........ 9 1,250,776.85 0.96
4.750 to 4.999%........ 82 9,584,130.08 7.37
5.000 to 5.249%........ 263 32,719,923.97 25.17
5.250 to 5.499%........ 122 14,437,745.64 11.11
5.500 to 5.749%........ 106 12,340,073.22 9.49
5.750 to 5.999%........ 106 11,733,378.11 9.03
6.000 to 6.249%........ 65 5,978,343.15 4.60
6.250 to 6.499%........ 56 6,096,932.13 4.69
6.500 to 6.749%........ 92 9,703,112.64 7.47
6.750 to 6.999%........ 88 12,159,358.07 9.36
7.000 to 7.249%........ 39 3,596,767.83 2.77
7.250 to 7.499%........ 36 3,042,970.02 2.34
7.500 to 7.749%........ 33 3,279,565.33 2.52
7.750 to 7.999%........ 10 904,796.60 0.70
8.000 to 8.249%........ 10 748,981.80 0.58
8.250 to 8.499%........ 1 210,000.00 0.16
8.500 to 8.749%........ 10 562,931.18 0.43
8.750 to 8.999%........ 4 303,790.84 0.23
9.000 to 9.249%........ 1 63,186.73 0.05
9.250 to 9.499%........ -- -- 0.00
9.500 to 9.749%........ 2 97,926.55 0.08
Over 9.749%............ 3 259,078.31 0.20
----- --------------- ------
Total.............. 1,145 $129,975,415.88 100.00%
===== =============== ======
</TABLE>
26
<PAGE>
MAXIMUM CONTRACT RATES--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MAXIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 14.000%...... 36 $ 4,746,422.88 3.65%
14.000 to 14.249%...... 6 1,080,911.66 0.83
14.250 to 14.499%...... 16 2,713,971.59 2.09
14.500 to 14.749%...... 38 5,024,087.07 3.87
14.750 to 14.999%...... 77 9,874,169.90 7.60
15.000 to 15.249%...... 49 6,384,005.51 4.91
15.250 to 15.499%...... 51 7,177,131.15 5.52
15.500 to 15.749%...... 62 8,781,235.27 6.76
15.750 to 15.999%...... 122 14,801,124.51 11.39
16.000 to 16.249%...... 74 7,023,834.79 5.40
16.250 to 16.499%...... 100 12,064,823.77 9.28
16.500 to 16.749%...... 89 8,735,714.12 6.72
16.750 to 16.999%...... 125 14,523,800.78 11.17
17.000 to 17.249%...... 50 5,494,222.93 4.23
17.250 to 17.499%...... 62 6,008,277.43 4.62
17.500 to 17.749%...... 52 4,766,338.79 3.67
17.750 to 17.999%...... 55 4,780,749.98 3.68
18.000 to 18.249%...... 27 1,767,544.96 1.36
18.250 to 18.499%...... 18 1,609,063.31 1.24
18.500 to 18.749%...... 10 603,939.50 0.46
18.750 to 18.999%...... 14 1,272,430.33 0.98
19.000 to 19.249%...... 3 129,704.52 0.10
19.250 to 19.499%...... 2 99,735.56 0.08
19.500 to 19.749%...... 2 157,100.01 0.12
19.750 to 19.999%...... 1 103,600.00 0.08
Over 19.999%........... 4 251,475.56 0.19
----- --------------- ------
Total.............. 1,145 $129,975,415.88 100.00%
===== =============== ======
</TABLE>
27
<PAGE>
MINIMUM CONTRACT RATES--INITIAL AND SUBSEQUENT ADJUSTABLE RATE HOME EQUITY
CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MINIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 7.250%...... 16 $ 2,011,312.43 1.55%
7.250 to 7.499%...... 8 1,160,193.57 0.89
7.500 to 7.749%...... 5 517,218.34 0.40
7.750 to 7.999%...... 18 2,997,172.53 2.31
8.000 to 8.249%...... 14 2,548,585.75 1.96
8.250 to 8.499%...... 24 3,979,410.85 3.06
8.500 to 8.749%...... 44 6,171,876.27 4.75
8.750 to 8.999%...... 85 10,232,516.05 7.87
9.000 to 9.249%...... 52 5,881,511.98 4.53
9.250 to 9.499%...... 61 8,360,561.62 6.43
9.500 to 9.749%...... 69 8,653,250.65 6.66
9.750 to 9.999%...... 153 18,646,104.28 14.35
10.000 to 10.249%...... 74 7,016,416.04 5.40
10.250 to 10.499%...... 107 12,364,462.33 9.51
10.500 to 10.749%...... 95 9,811,030.83 7.55
10.750 to 10.999%...... 102 10,744,675.12 8.27
11.000 to 11.249%...... 52 5,535,352.08 4.26
11.250 to 11.499%...... 46 3,905,482.17 3.00
11.500 to 11.749%...... 33 2,603,106.34 2.00
11.750 to 11.999%...... 39 3,390,255.57 2.61
12.000 to 12.249%...... 17 959,711.28 0.74
12.250 to 12.499%...... 8 704,473.52 0.54
12.500 to 12.749%...... 9 576,910.21 0.44
12.750 to 12.999%...... 8 837,903.38 0.64
13.000 to 13.249%...... 3 198,878.86 0.15
13.250 to 13.499%...... 2 120,672.29 0.09
13.500 to 13.749%...... -- -- 0.00
13.750 to 13.999%...... -- -- 0.00
Over 13.99%............ 1 46,371.54 0.04
----- --------------- ------
Total................ 1,145 $129,975,415.88 100.00%
===== =============== ======
</TABLE>
28
