<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): March 18, 1999
GREEN TREE FINANCIAL CORPORATION
as originator of
Home Equity Loan Trust 1999-A
-----------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-63305 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: (651) 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 March 18, 1999, the Registrant sold approximately $1,100,000,000
of Certificates for Home Equity Loans, Series 1999-A (the
"Certificates"), evidencing beneficial ownership interests in Home
Equity Loan Trust 1999-A (the "Trust"). The Trust property consists
primarily of a pool which is comprised of closed-end home equity
loans (the "Home Equity Loans"), including the right to receive
payments due on the Contracts on and after the applicable Cut-off
Date as described in the Pooling and Servicing Agreement dated as of
February 1, 1999. 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 On March 18, the Registrant sold approximately
$1,100,000,000 of closed-end home equity loans (the
"Home Equity Loans") to Home Equity Loan Trust
1999-A (the "Trust"), pursuant to the pre-funding
provisions of the Pooling and Servicing Agreement
dated as of February 1, 1999 filed herewith as
Exhibit 99 are tables providing information with
respect to the Contracts in the aggregate, similar
to the information provided with respect to the
Initial Contracts in the Prospectus dated February
23, 1999. Capitalized terms used herein and not
defined have the meaning assigned in the Pooling
and Servicing Agreement.
-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 1999-A
By: /s/ Joel H. Gottesman
---------------------------------------
Joel H. Gottesman
Senior Vice President, General Counsel
and Secretary
-4-
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Page
- -------------- ----
Filed Electronically
99 On March 18, the Registrant sold approximately
$1,100,000,000 of closed-end home equity loans
(the "Home Equity Loans") to Home Equity Loan Trust
1999-A (the "Trust"), pursuant to the pre-funding
provisions of the Pooling and Servicing Agreement
dated as of February 1, 1999 filed herewith as
Exhibit 99 are tables providing information with respect
to the Contracts in the aggregate, similar to the
information provided with respect to the Initial
Contracts in the Prospectus dated February 23, 1999.
Capitalized terms used herein and not defined have the
meaning assigned in the Pooling and Servicing Agreement.
-5-
<PAGE>
Exhibit 99
INITIAL AND ADDITIONAL FIXED-RATE LOANS
Set forth below is a description of certain additional characteristics of the
Initial Fixed-Rate Loans. Percentages in these tables may not add up to 100.00%
due to rounding.
Geographical Distribution of Mortgaged Properties--Initial and Additional
Fixed-Rate Loans
<TABLE>
<CAPTION>
% of Initial % of Initial and
and Additional Additional
Fixed-Rate Loans Fixed-Rate Loans
Number of by Number of Aggregate Principal by Outstanding
Loans as of Loans as Balance Outstanding Principal Balance
State Cut-off Date of Cut-off Date as of Cut-off Date as of Cut-off Date
- ----- ------------ ----------------- ------------------- ------------------
<S> <C> <C> <C> <C>
Alabama................. 433 3.50% $ 22,002,585.92 2.92%
Arizona................. 274 2.22 16,054,624.93 2.13
Arkansas................ 110 0.89 6,911,551.43 0.92
California.............. 850 6.88 70,046,735.30 9.30
Colorado................ 294 2.38 19,311,065.98 2.56
Connecticut............. 108 0.87 8,573,502.55 1.14
Delaware................ 50 0.40 3,536,131.16 0.47
District of Columbia.... 12 0.10 704,349.94 0.09
Florida................. 514 4.16 27,601,044.16 3.67
Georgia................. 403 3.26 25,012,619.49 3.32
Idaho................... 43 0.35 2,192,737.29 0.29
Illinois................ 567 4.59 36,240,430.63 4.81
Indiana................. 406 3.29 20,624,484.35 2.74
Iowa.................... 250 2.02 14,142,252.55 1.88
Kansas.................. 221 1.79 11,573,999.31 1.54
Kentucky................ 263 2.13 14,243,227.35 1.89
Louisiana............... 318 2.57 16,985,364.68 2.26
Maine................... 11 0.09 629,839.13 0.08
Maryland................ 245 1.98 13,700,873.03 1.82
Massachusetts........... 127 1.03 9,682,131.87 1.29
Michigan................ 613 4.96 41,908,452.32 5.57
Minnesota............... 217 1.76 13,623,410.39 1.81
Mississippi............. 157 1.27 7,947,130.00 1.06
Missouri................ 324 2.62 18,636,059.02 2.48
Montana................. 43 0.35 2,958,123.92 0.39
Nebraska................ 88 0.71 4,960,683.67 0.66
Nevada.................. 118 0.95 7,407,560.84 0.98
New Hampshire........... 16 0.13 829,923.36 0.11
New Jersey.............. 202 1.63 13,517,469.78 1.80
New Mexico.............. 74 0.60 4,942,557.46 0.66
New York................ 429 3.47 30,565,259.43 4.06
North Carolina.......... 643 5.20 39,538,108.35 5.25
North Dakota............ 28 0.23 1,534,646.67 0.20
Ohio.................... 847 6.85 48,025,734.46 6.38
Oklahoma................ 103 0.83 5,655,693.34 0.75
Oregon.................. 115 0.93 6,735,486.20 0.89
Pennsylvania............ 550 4.45 31,704,481.24 4.21
Rhode Island............ 41 0.33 2,538,887.40 0.34
South Carolina.......... 315 2.55 18,635,788.75 2.48
South Dakota............ 35 0.28 1,894,994.12 0.25
Tennessee............... 296 2.40 16,099,290.41 2.14
Texas................... 533 4.31 23,748,091.13 3.15
Utah.................... 101 0.82 5,331,482.43 0.71
Vermont................. 6 0.05 173,811.87 0.02
Virginia................ 288 2.33 20,050,828.40 2.66
Washington.............. 265 2.14 18,178,767.92 2.41
West Virginia........... 82 0.66 4,638,915.85 0.62
Wisconsin............... 273 2.21 17,810,314.03 2.37
Wyoming................. 57 0.46 3,553,079.19 0.47
------ ------ --------------- ------
Total............... 12,358 100.00% $752,914,583.00 100.00%
====== ====== =============== ======
</TABLE>
1
<PAGE>
Years of Origination--Initial and Additional Fixed-Rate Loans
<TABLE>
<CAPTION>
% of Initial and Additional
Fixed-Rate Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Year of Origination as of Cut-off Date as of Cut-off Date Cut-off Date
- ------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
1995.................... 11 $ 298,441.38 0.04%
1996.................... 226 5,910,541.12 0.79
1997.................... 102 4,712,453.48 0.63
1998.................... 6,096 355,408,600.25 47.20
1999.................... 5,923 386,584,546.77 51.35
------ --------------- ------
Total............... 12,358 $752,914,583.00 100.00%
====== =============== ======
</TABLE>
Distribution of Original Loan Amounts--Initial and Additional Fixed-Rate Loans
<TABLE>
<CAPTION>
% of Initial and Additional
Fixed-Rate Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Original Loan Amount as of Cut-off Date as of Cut-off Date Cut-off Date
-------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Less than $10,000.00.... 28 $ 228,833.34 0.03%
$ 10,000.00 to
$ 19,999.99............ 1,775 26,063,726.39 3.46
$ 20,000.00 to
$ 29,999.99............ 1,744 42,267,166.48 5.61
$ 30,000.00 to
$ 39,999.99............ 1,357 46,561,234.55 6.18
$ 40,000.00 to
$ 49,999.99............ 1,247 55,437,842.89 7.36
$ 50,000.00 to
$ 59,999.99............ 1,127 61,455,462.58 8.16
$ 60,000.00 to
$ 69,999.99............ 1,068 68,877,078.40 9.15
$ 70,000.00 to
$ 79,999.99............ 922 68,657,934.47 9.12
$ 80,000.00 to
$ 89,999.99............ 618 51,944,437.41 6.90
$ 90,000.00 to
$ 99,999.99............ 495 46,775,029.36 6.21
$100,000.00 to
$109,999.99............ 419 43,868,275.79 5.83
$110,000.00 to
$119,999.99............ 306 35,126,227.09 4.67
$120,000.00 to
$129,999.99............ 255 31,755,952.83 4.22
$130,000.00 to
$139,999.99............ 218 29,296,327.47 3.89
$140,000.00 to
$149,999.99............ 147 21,270.072.27 2.83
$150,000.00 to
$159,999.99............ 143 21,970,403.63 2.92
$160,000.00 to
$169,999.99............ 93 15,311,857,37 2.03
$170,000.00 to
$179,999.99............ 68 11,836,247.80 1.57
$180,000.00 to
$189,999.99............ 69 12,665,824.69 1.68
$190,000.00 to
$199,999.99............ 44 8,539,274.55 1.13
$200,000.00 to
$209,999.99............ 46 9,402,392.09 1.25
$210,000.00 to
$219,999.99............ 33 7,091,638.93 0.94
Greater than
$219,999.99............ 136 36,511,342.62 4.85
------ --------------- ------
Total............... 12,358 $752,914,583.00 100.00%
====== =============== ======
</TABLE>
2
<PAGE>
Loan Rates--Initial and Additional Fixed-Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Fixed-Rate
Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Loan Rate as of Cut-off Date as of Cut-off Date Cut-off Date
- --------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Less than 9.01%......... 447 $ 46,926,343.11 6.23%
9.01 to 10.00%......... 1,329 129,235,536.78 17.16
10.01 to 11.00%......... 2,814 234,880,677.80 31.20
11.01 to 12.00%......... 2,210 138,339,960.47 18.37
12.01 to 13.00%......... 2,181 93,829,894.95 12.46
13.01 to 14.00%......... 2,193 72,036,047.16 9.57
14.01 to 15.00%......... 778 24,633,439.10 3.27
15.01 to 16.00%......... 222 7,156,811.86 0.95
16.01 to 17.00%......... 125 3,992,015.18 0.53
Greater than 17.00%..... 59 1,883,856.59 0.25
------ --------------- ------
Total............... 12,358 $752,914,583.00 100.00%
====== =============== ======
</TABLE>
Remaining Months to Maturity--Initial and Additional Fixed-Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Fixed-Rate
Loans by
Months Remaining to Aggregate Principal Outstanding Principal
Scheduled Maturity Number of Loans Balance Outstanding Balance as of
As of Cut-off Date as of Cut-off Date as of Cut-off Date Cut-off Date
------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Fewer than 31........... 1 $ 8,304.39 *%
31 to 60.............. 122 2,631,367.31 0.35
61 to 90.............. 113 3,311,695.78 0.44
91 to 120.............. 746 22,892,359.90 3.04
121 to 150.............. 118 4,065,372.78 0.54
151 to 180.............. 4,453 233,030,735.89 30.95
181 to 210.............. 33 1,741,987.26 0.23
211 to 240.............. 3,709 230,175,174.58 30.57
241 to 270.............. 6 457,935.07 0.06
271 to 300.............. 1,460 104,098,028.17 13.83
301 to 330.............. 4 197,190,99 0.03
331 to 360.............. 1,593 150,304,430.88 19.96
------ --------------- ------
Total............... 12,358 $752,914,583.00 100.00%
====== =============== ======
</TABLE>
- --------
* Indicates an amount greater than zero but less than 0.005% of the aggregate
principal balance of the Initial and Additional Fixed-Rate Loans.
3
<PAGE>
Lien Position--Initial and Additional Fixed-Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Fixed-Rate
Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Lien Position as of Cut-off Date as of Cut-off Date Cut-off Date
- ------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
First............. 7,634 $616,453,442.99 81.88%
Second............ 4,704 135,955,606.57 18.06
Third............. 20 505,533.44 0.07
------ --------------- ------
Total......... 12,358 $752,914,583.00 100.00%
====== =============== ======
</TABLE>
Combined Loan-to-Value Ratio--Initial and Additional Fixed-Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Fixed-Rate
Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Combined Loan-to-Value Ratio as of Cut-off Date as of Cut-off Date Cut-off Date
- ---------------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Less than 10.01%............ 2 $ 32,983.98 *%
10.01 to 20.00%............. 32 657,150.24 0.09
20.01 to 30.00%............. 55 1,388,853.45 0.18
30.01 to 40.00%............. 73 2,486,139.29 0.33
40.01 to 50.00%............. 132 4,984,765.58 0.66
50.01 to 60.00%............. 203 8,514,673.72 1.13
60.01 to 70.00%............. 428 22,858,441.59 3.04
70.01 to 80.00%............. 1,502 87,784,941.50 11.66
80.01 to 90.00%............. 3,766 233,397,415.61 31.00
Greater than 90.00%......... 6,165 390,809,218.04 51.91
------ --------------- ------
Total................... 12,358 $752,914,583.00 100.00%
====== =============== ======
</TABLE>
- --------------
* Indicates an amount greater than zero but less than 0.005% of the aggregate
pricipal balance of the combined Initial and Fixed-Rate Loans.
The original combined loan-to-value ratio ("CLTV") of each Loan shown in the
table above is equal to (i) the sum of (a) the original principal balance of
such Loan plus (b) the outstanding principal balance (as of the date of
origination of the Loan) of any loan secured by a prior lien on the same
property, divided by (ii) the Collateral Value of the related property. The
"Collateral Value" of the property securing a Loan is the lesser of (x) the
appraised value based on an appraisal made for the originator of the Loan by an
independent fee appraiser (or, in certain instances, by an employee of the
Company who is a licensed appraiser) at the time of origination of the Loan,
and (y) the sales price of the property at the time of origination of the Loan.
With respect to a Loan the proceeds of which were used to refinance an existing
mortgage loan, the Collateral Value is the appraised value of the related
property based upon the appraisal obtained at the time of refinancing.
4
<PAGE>
INITIAL AND ADDITIONAL GROUP I ADJUSTABLE RATE LOANS
Set forth below is a description of certain additional characteristics of the
Initial Group I Adjustable Rate Loans. Percentages in these tables may not add
up to 100.00% due to rounding.
Geographical Distribution of Mortgaged Properties-- Initial and Additional
Group I Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and Additional
% of Initial and Additional Aggregate Principal Group I Adjustable Rate Loans
Number of Loans Group I Adjustable Balance by Outstanding Principal
as of Rate Loans by Number of Outstanding as of Balance as of
State Cut-off Date Loans as of Cut-off Date Cut-off Date Cut-off Date
- ----- --------------- --------------------------- ------------------- ----------------------------
<S> <C> <C> <C> <C>
Alabama................. 48 4.09% $ 4,063,620.00 3.27%
Arizona................. 24 2.04 2,308,160.59 1.86
Arkansas................ 0 0.00 -- 0.00
California.............. 88 7.50 13,071,567.25 10.53
Colorado................ 63 5.37 7,514,099.50 6.05
Connecticut............. 4 0.34 276,023.38 0.22
Delaware................ 1 0.09 61,338.05 0.05
District Of Columbia.... 8 0.68 922,865.68 0.74
Florida................. 61 5.20 5,821,008.65 4.69
Georgia................. 52 4.43 5,661,334.99 4.56
Idaho................... 8 0.68 717,377.13 0.58
Illinois................ 26 2.21 2,915,065.14 2.35
Indiana................. 65 5.54 5,409,835.67 4.36
Iowa.................... 1 0.09 67,411.23 0.05
Kansas.................. 11 0.94 1,163,449.53 0.94
Kentucky................ 22 1.87 1,626,478.47 1.31
Louisiana............... 21 1.79 2,101,476.28 1.69
Maryland................ 41 3.49 6,025,886.67 4.85
Massachusetts........... 15 1.28 1,887,744.69 1.52
Michigan................ 35 2.98 3,560,914.98 2.87
Minnesota............... 5 0.43 540,706.69 0.44
Mississippi............. 7 0.60 611,628.62 0.49
Missouri................ 20 1.70 1,837,277.05 1.48
Montana................. 1 0.09 136,493.43 0.11
Nebraska................ 2 0.17 143,488.36 0.12
Nevada.................. 8 0.68 1,006,191.77 0.81
New Hampshire........... 5 0.43 460,312.39 0.37
New Jersey.............. 1 0.09 83,777.82 0.07
New Mexico.............. 3 0.26 225,454.26 0.18
New York................ 7 0.60 875,510.93 0.71
North Carolina.......... 61 5.20 5,771,598.80 4.65
North Dakota............ 1 0.09 48,475.58 0.04
Ohio.................... 125 10.65 11,168,226.30 9.00
Oklahoma................ 9 0.77 709,998.96 0.57
Oregon.................. 27 2.30 3,068,964.94 2.47
Pennsylvania............ 23 1.96 2,335,570.58 1.88
Rhode Island............ 6 0.51 556,261.11 0.45
South Carolina.......... 28 2.39 2,635,166.93 2.12
Tennessee............... 41 3.49 3,971,511.85 3.20
Texas................... 53 4.51 5,549,048.99 4.47
Utah.................... 43 3.66 5,252,590.36 4.23
Vermont................. 2 0.17 123,911.81 0.10
Virginia................ 26 2.21 3,548,889.11 2.86
Washington.............. 55 4.68 6,531,120.53 5.26
West Virginia........... 1 0.09 71,262.26 0.06
Wisconsin............... 19 1.62 1,574,553.26 1.27
Wyoming................. 1 0.09 112,699.89 0.09
----- ------ --------------- ------
Total............... 1,174 100.00% $124,126,350.46 100.00%
----- ====== =============== ======
</TABLE>
5
<PAGE>
Years of Origination--Initial and Additional Group I Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group I
Adjustable Rate
Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Year of Origination as of Cut-off Date as of Cut-off Date Cut-off Date
- ------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
1997.................... 1 $ 107,916.08 0.09%
1998.................... 1,001 106,514,624.38 85.81
1999.................... 172 17,503,810.00 14.10
----- --------------- ------
Total............... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
Distribution of Original Loan Amounts--Initial and Additional Group I
Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial
and Additional Group
I Adjustable Rate
Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Original Loan Amount as of Cut-off Date as of Cut-off Date Cut-off Date
-------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Less than$ 30,000.00.... 2 $ 42,634.79 0.03%
$ 30,000.00 to
$ 39,999.99............ 22 798,196.65 0.64
$ 40,000.00 to
$ 49,999.99............ 64 2,877,431.62 2.32
$ 50,000.00 to
$ 59,999.99............ 85 4,632,029.28 3.73
$ 60,000.00 to
$ 69,999.99............ 126 8,142,277.50 6.56
$ 70,000.00 to
$ 79,999.99............ 106 7,940,571.64 6.40
$ 80,000.00 to
$ 89,999.99............ 100 8,458,614.72 6.81
$ 90,000.00 to
$ 99,999.99............ 103 9,758,214.68 7.86
$100,000.00 to
$109,999.99............ 88 9,166,615.99 7.38
$110,000.00 to
$119,999.99............ 93 10,682,279.78 8.61
$120,000.00 to
$129,999.99............ 73 9,107,767.91 7.34
$130,000.00 to
$139,999.99............ 64 8,630,029.95 6.95
$140,000.00 to
$149,999.99............ 46 6,671,645.24 5.37
$150,000.00 to
$159,999.99............ 39 6,033,358.76 4.86
$160,000.00 to
$169,999.99............ 41 6,727,540.62 5.42
$170,000.00 to
$179,999.99............ 25 4,369,823.84 3.52
$180,000.00 to
$189,999.99............ 15 2,760,556.82 2.22
$190,000.00 to
$199,999.99............ 23 4,474,652.28 3.60
$200,000.00 to
$209,999.99............ 14 2,858,449.46 2.30
$210,000.00 to
$219,999.99............ 18 3,843,367.79 3.10
Greater than
$219,999.99............ 27 6,150,291.14 4.95
----- --------------- ------
Total............... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
6
<PAGE>
Current Loan Rates--Initial and Additional Group I Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group I
Aggregate Principal Adjustable Rate Loans by
Number of Loans Balance Outstanding Outstanding Principal
Loan Rate as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- --------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
Less than 7.01%......... 2 $ 179,206.68 0.14%
7.01 to 8.00%.......... 47 6,546,204.92 5.27
8.01 to 9.00%.......... 320 37,739,473.51 30.40
9.01 to 10.00%......... 462 48,071,421.48 38.73
10.01 to 11.00%......... 272 25,899,075.51 20.87
11.01 to 12.00%......... 58 4.680,540.90 3.77
12.01 to 13.00%......... 10 834,345.47 0.67
Greater than 13.00%..... 3 176,081.99 0.14
----- --------------- ------
Total............... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
Remaining Months to Maturity--Initial and Additional Group I Adjustable Rate
Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group I
Months Remaining to Aggregate Principal Adjustable Rate Loans by
Scheduled Maturity Number of Loans Balance Outstanding Outstanding Principal
As of Cut-off Date as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
270 to 330.............. 2 $ 169,854.99 0.14%
331 to 360.............. 1,172 123,956,495.47 99.86
----- --------------- ------
Total............... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
Lien Position--Initial and Additional Group I Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group I
Aggregate Principal Adjustable Rate Loans by
Number of Loans Balance Outstanding Outstanding Principal
Lien Position as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
First........ 1,174 $124,126,350.46 100.00%
----- --------------- ------
Total.... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
Loan-to-Value Ratio--Initial and Additional Group I Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group I
Aggregate Principal Adjustable Rate Loans by
Number of Loans Balance Outstanding Outstanding Principal
Loan-to-Value Ratio as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
20.01 to 30.00%......... 1 $ 49,915.34 0.04%
30.01 to 40.00%......... 2 165,323.08 0.13
40.01 to 50.00%......... 9 675,975.72 0.54
50.01 to 60.00%......... 14 1,030,144.39 0.83
60.01 to 70.00%......... 45 3,990,252.75 3.21
70.01 to 80.00%......... 308 32,318,161.72 26.04
80.01 to 90.00%......... 565 58,971,453.64 47.51
Greater than 90.00%..... 230 26,925,123.82 21.69
----- --------------- ------
Total............... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
7
<PAGE>
Month of Next Rate Adjustment--Initial and Additional Group I Adjustable Rate
Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group I
Aggregate Principal Adjustable Rate Loans
Number of Loans Balance Outstanding by Outstanding Principal
Month of Next Rate Adjustment as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ----------------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
February 1999............... 1 $ 70,270.46 0.06%
March 1999.................. 1 157,779.46 0.13
April 1999.................. 7 545,638.90 0.44
May 1999.................... 8 881,619.27 0.71
June 1999................... 6 470,959.53 0.38
January 2000................ 1 89,051.23 0.07
February 2000............... 2 250,125.06 0.20
March 2000.................. 8 949,260.77 0.76
April 2000.................. 5 495,639.06 0.40
May 2000.................... 4 598,918.90 0.48
June 2000................... 11 1,400,526.08 1.13
July 2000................... 25 2,348,493.75 1.89
August 2000................. 64 6,369,161.02 5.13
September 2000.............. 146 16,158,486.91 13.02
October 2000................ 211 21,859,368.87 17.61
November 2000............... 261 29,089,918.97 23.44
December 2000............... 181 19,064,492.94 15.36
January 2001................ 130 13,875,854.27 11.18
February 2001............... 44 3,944,308.58 3.18
June 2001................... 1 222,679.25 0.18
July 2001................... 1 59,284.18 0.05
August 2001................. 4 499,468.01 0.40
September 2001.............. 6 481,585.68 0.39
October 2001................ 11 937,423.43 0.76
November 2001............... 25 2,319,297.46 1.87
December 2001............... 7 835,738.42 0.67
January 2002................ 2 111,000.00 0.09
February 2002............... 1 40,000.00 0.03
----- --------------- ------
Total................... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
8
<PAGE>
Distribution of Gross Margin--Initial and Additional Group I Adjustable Rate
Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group I
Aggregate Principal Adjustable Rate Loans
Number of Loans Balance Outstanding by Outstanding Principal
Gross Margin as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ------------ ------------------ ------------------- --------------------------
<S> <C> <C> <C>
Less than 4.500%........ 2 270,628.96 0.22%
4.500 to 4.749%......... 3 196,027.55 0.16
4.750 to 4.999%......... 4 450,307.97 0.36
5.000 to 5.249%......... 11 929,340.10 0.75
5.250 to 5.499%......... 24 2,410,786.19 1.94
5.500 to 5.749%......... 42 4,988,519.93 4.02
5.750 to 5.999%......... 114 12,599,401.85 10.15
6.000 to 6.249%......... 116 13,195,094.96 10.63
6.250 to 6.499%......... 146 15,507,195.76 12.49
6.500 to 6.749%......... 140 15,802,581.53 12.73
6.750 to 6.999%......... 171 19,639,641.59 15.82
7.000 to 7.249%......... 117 11,405,977.39 9.19
7.250 to 7.499%......... 65 6,414,400.83 5.17
7.500 to 7.749%......... 45 4,461,636.35 3.59
7.750 to 7.999%......... 58 5,624,096.42 4.53
8.000 to 8.249%......... 46 4,224,085.42 3.40
8.250 to 8.499%......... 22 2,105,180.63 1.70
8.500 to 8.749%......... 31 2,427,351.37 1.96
8.750 to 8.999%......... 2 184,941.08 0.15
9.000 to 9.249%......... 8 825,676.18 0.67
9.250 to 9.499%......... 3 175,023.10 0.14
9.500 to 9.749%......... 2 122,724.71 0.10
Greater than 9.749%..... 2 165,730.59 0.13
----- --------------- ------
Total............... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
9
<PAGE>
Maximum Loan Rates--Initial and Additional Group I Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and Additional
Group I Adjustable
Rate Loans
Number of Loans Aggregate Principal by Outstanding Principal
as of Cut-off Balance Outstanding Balance as of
Maximum Loan Rates Date as of Cut-off Date Cut-off Date
- ------------------ --------------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 13.000%....... 230 24,472,537.43 19.72%
13.000 to 13.249%....... 24 2,385,581.16 1.92
13.250 to 13.499%....... 31 3,037,442.78 2.45
13.500 to 13.749%....... 17 1,870,480.14 1.51
13.750 to 13.999%....... 49 5,695,428.26 4.59
14.000 to 14.249%....... 10 766,049.96 0.62
14.250 to 14.499%....... 22 2,420,509.08 1.95
14.500 to 14.749%....... 70 8,806,483.46 7.09
14.750 to 14.999%....... 116 13,096,731.68 10.55
15.000 to 15.249%....... 37 4,615,644.31 3.72
15.250 to 15.499%....... 88 9,813,440.51 7.91
15.500 to 15.749%....... 77 8,101,952.16 6.53
15.750 to 15.999%....... 104 10,571,581.17 8.52
16.000 to 16.249%....... 31 3,090,776.68 2.49
16.250 to 16.499%....... 49 5,649,546.44 4.55
16.500 to 16.749%....... 56 4,639,489.91 3.74
16.750 to 16.999%....... 63 6,310,457.70 5.08
17.000 to 17.249%....... 15 1,289,432.10 1.04
17.250 to 17.499%....... 23 1,971,278.70 1.59
17.500 to 17.749%....... 20 1,994,358.68 1.61
17.750 to 17.999%....... 16 1,408,287.48 1.13
18.000 to 18.249%....... 9 855,982.58 0.69
18.250 to 18.499%....... 4 285,783.04 0.23
18.500 to 18.749%....... 1 132,300.00 0.11
18.750 to 18.999%....... 4 292,603.33 0.24
19.000 to 19.249%....... 1 83,777.82 0.07
19.250 to 19.499%....... 4 212,070.90 0.17
19.500 to 19.749%....... 0 -- 0.00
19.750 to 19.999%....... 1 51,939.10 0.04
Greater than 19.999%.... 2 204,403.90 0.16
----- --------------- ------
Total............... 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
10
<PAGE>
Minimum Loan Rates--Initial and Additional Group I Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial
and Additional Group I
Adjustable Rate
Number of Loans
Loans Aggregate Principal by Outstanding Principal
as of Cut- Balance Outstanding Balance as of
Minimum Loan Rates off Date as of Cut-off Date Cut-off Date
- ------------------ ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 7.250%...... 3 $ 330,484.39 0.27%
7.250 to 7.499%...... 2 361,107.34 0.29
7.500 to 7.749%...... 4 662,502.75 0.53
7.750 to 7.999%...... 35 4,741,609.70 3.82
8.000 to 8.249%...... 12 1,562,534.18 1.26
8.250 to 8.499%...... 36 4,078,765.23 3.29
8.500 to 8.749%...... 93 11,259,041.82 9.07
8.750 to 8.999%...... 177 20,581,698.37 16.58
9.000 to 9.249%...... 44 5,147,841.86 4.15
9.250 to 9.499%...... 130 14,326,463.32 11.54
9.500 to 9.749%...... 111 11,354,129.73 9.15
9.750 to 9.999%...... 177 17,504,275.18 14.10
10.000 to 10.249%...... 55 5,399,145.00 4.35
10.250 to 10.499%...... 73 7,545,501.11 6.08
10.500 to 10.749%...... 72 6,625,976.22 5.34
10.750 to 10.999%...... 69 5,984,046.90 4.82
11.000 to 11.249%...... 23 1,841,001.07 1.48
11.250 to 11.499%...... 16 1,101,466.58 0.89
11.500 to 11.749%...... 12 1,263,070.87 1.02
11.750 to 11.999%...... 13 1,107,602.10 0.89
12.000 to 12.249%...... 7 623,273.98 0.50
12.250 to 12.499%...... 4 223,106.86 0.18
12.500 to 12.749%...... 1 149,963.22 0.12
12.750 to 12.999%...... 2 175,660.69 0.14
13.000 to 13.249%...... 0 -- 0.00
13.250 to 13.499%...... 3 176,081.99 0.14
13.500 to 13.749%...... 0 -- 0.00
Greater than 13.749%... 0 -- 0.00
----- --------------- ------
Total................ 1,174 $124,126,350.46 100.00%
===== =============== ======
</TABLE>
11
<PAGE>
INITIAL AND ADDITIONAL GROUP II ADJUSTABLE RATE LOANS
Set forth below is a description of certain additional characteristics of the
Initial Group II Adjustable Rate Loans. Percentages in these tables may not add
up to 100.00% due to rounding.
Geographical Distribution of Mortgaged Properties-- Initial and Additional
Group II Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial
% of Initial and Additional
and Additional Group II
Group II Adjustable
Adjustable Rate Loans
Rate Loans Aggregate Principal by Outstanding
by Number of Balance Principal
Number of Loans Loans as Outstanding as of Balance as of
State as of Cut-off Date of Cut-off Date Cut-off Date Cut-off Date
- ----- ------------------ --------------- ------------------- --------------
<S> <C> <C> <C> <C>
Alabama................. 31 3.13% $ 2,793,542.62 2.25%
Arizona................. 16 1.61 1,996,920.35 1.61
Arkansas................ 4 0.40 239,463.50 0.19
California.............. 97 9.79 19,551,603.49 15.75
Colorado................ 48 4.84 6,125,316.57 4.93
Connecticut............. 6 0.61 756,738.72 0.61
Delaware................ 2 0.20 252,604.76 0.20
District Of Columbia.... 6 0.61 865,457.86 0.70
Florida................. 51 5.15 5,332,579.52 4.29
Georgia................. 27 2.72 3,160,195.07 2.55
Idaho................... 6 0.61 736,243.62 0.59
Illinois................ 25 2.52 3,381,843.98 2.72
Indiana................. 61 6.16 5,546,707.27 4.47
Iowa.................... 1 0.10 88,092.76 0.07
Kansas.................. 5 0.50 414,585.48 0.33
Kentucky................ 19 1.92 1,294,113.39 1.04
Louisiana............... 16 1.61 1,471,986.05 1.19
Maryland................ 58 5.85 10,481,158.67 8.44
Massachusetts........... 13 1.31 1,850,206.01 1.49
Michigan................ 28 2.83 2,707,862.27 2.18
Minnesota............... 3 0.30 386,119.48 0.31
Mississippi............. 4 0.40 276,871.92 0.22
Missouri................ 7 0.71 674,250.10 0.54
Montana................. 0 0.00 -- 0.00
Nevada.................. 10 1.01 1,226,102.75 0.99
New Hampshire........... 3 0.30 391,288.94 0.32
New Jersey.............. 2 0.20 455,866.39 0.37
New Mexico.............. 7 0.71 603,873.66 0.49
New York................ 4 0.40 516,027.67 0.42
North Carolina.......... 50 5.05 5,066,596.11 4.08
Ohio.................... 94 9.49 8,527,480.14 6.87
Oklahoma................ 5 0.50 296,964.49 0.24
Oregon.................. 40 4.04 5,020,933.60 4.04
Pennsylvania............ 14 1.41 1,613,814.27 1.30
Rhode Island............ 6 0.61 938,521.08 0.76
South Carolina.......... 13 1.31 1,164,438.26 0.94
Tennessee............... 39 3.94 3,886,743.67 3.13
Texas................... 43 4.34 5,376,970.70 4.33
Utah.................... 27 2.72 3,560,484.00 2.87
Virginia................ 17 1.72 3,563,093.31 2.87
Washington.............. 67 6.76 9,816,312.92 7.91
West Virginia........... 3 0.30 498,596.03 0.40
Wisconsin............... 12 1.21 1,202,157.58 0.97
Wyoming................. 1 0.10 61,731.52 0.05
--- ------ --------------- ------
Total............... 991 100.00% $124,172,460.55 100.00%
=== ====== =============== ======
</TABLE>
12
<PAGE>
Years of Origination--Initial and Additional Group II Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial
and Additional Group II
Adjustable Rate
Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Year of Origination as of Cut-off Date as of Cut-off Date Cut-off Date
- ------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
1997.................... 6 $ 693,355.23 0.56%
1998.................... 836 105,110,533.72 84.65
1999.................... 149 18,368,571.60 14.79
--- --------------- ------
Total............... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
Distribution of Original Loan Amounts--Initial and Additional Group II
Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Adjustable Rate
Loans by
Aggregate Principal Outstanding Principal
Number of Loans Balance Outstanding Balance as of
Original Loan Amount as of Cut-off Date as of Cut-off Date Cut-off Date
-------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Less than$ 30,000.00.... 9 $ 247,849.13 0.20%
$ 30,000.00 to
$ 39,999.99............ 12 429,795.32 0.35
$ 40,000.00 to
$ 49,999.99............ 36 1,657,572.79 1.33
$ 50,000.00 to
$ 59,999.99............ 72 3,960,387.90 3.19
$ 60,000.00 to
$ 69,999.99............ 92 5,998,104.77 4.83
$ 70,000.00 to
$ 79,999.99............ 82 6,088,395.87 4.90
$ 80,000.00 to
$ 89,999.99............ 72 6,096,566.73 4.91
$ 90,000.00 to
$ 99,999.99............ 79 7,465,725.21 6.01
$100,000.00 to
$109,999.99............ 63 6,566,281.17 5.29
$110,000.00 to
$119,999.99............ 64 7,320,622.03 5.90
$120,000.00 to
$129,999.99............ 64 8,001,679.33 6.44
$130,000.00 to
$139,999.99............ 55 7,404,038.88 5.96
$140,000.00 to
$149,999.99............ 34 4,918,630.14 3.96
$150,000.00 to
$159,999.99............ 25 3,852,567.30 3.10
$160,000.00 to
$169,999.99............ 31 5,091,040.25 4.10
$170,000.00 to
$179,999.99............ 19 3,290,255.28 2.65
$180,000.00 to
$189,999.99............ 14 2,599,147.92 2.09
$190,000.00 to
$199,999.99............ 16 3,130,697.61 2.52
$200,000.00 to
$209,999.99............ 14 2,880,443.23 2.32
$210,000.00 to
$219,999.99............ 10 2,144,936.42 1.73
Greater than
$219,999.99............ 128 35,027,723.27 28.21
--- --------------- ------
Total............... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
13
<PAGE>
Current Loan Rates--Initial and Additional Group II Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Aggregate Principal Adjustable Rate Loans by
Number of Loans Balance Outstanding Outstanding Principal
Loan Rate as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- --------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
Less than 7.01%......... 1 $ 138,323.66 0.11%
7.01 to 8.00%........... 38 6,211,671.56 5.00
8.01 to 9.00%........... 293 42,221,106.71 34.00
9.01 to 10.00%.......... 422 52,315,893.85 42.13
10.01 to 11.00%......... 168 17,484,880.83 14.08
11.01 to 12.00%......... 55 4,733,961.84 3.81
12.01 to 13.00%......... 11 907,278.34 0.73
Greater than 13.00%..... 3 159,343.76 0.13
--- --------------- ------
Total............... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
Remaining Months to Maturity--Initial and Additional Group II Adjustable Rate
Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Months Remaining to Aggregate Principal Adjustable Rate Loans by
Scheduled Maturity Number of Loans Balance Outstanding Outstanding Principal
As of Cut-off Date as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
270--330................ 1 $ 66,764.91 0.05%
331--360................ 990 $124,105,695.64 99.95%
--- --------------- ------
Total............... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
Lien Position--Initial and Additional Group II Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Aggregate Principal Adjustable Rate Loans by
Number of Loans Balance Outstanding Outstanding Principal
Lien Position as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
First........ 991 $124,172,460.55 100.00%
--- --------------- ------
Total.... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
Loan-to-Value Ratio--Initial and Additional Group II Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Aggregate Principal Adjustable Rate Loans by
Number of Loans Balance Outstanding Outstanding Principal
Loan-to-Value Ratio as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
10.01--20.00%........... 1 $ 34,906.43 0.03%
20.01--30.00%........... 3 150,855.77 0.12
30.01--40.00%........... 2 123,456.48 0.10
40.01--50.00%........... 6 529,802.47 0.43
50.01--60.00%........... 15 1,536,937.53 1.24
60.01--70.00%........... 37 4,724,745.67 3.80
70.01--80.00%........... 240 29,332,350.36 23.62
80.01--90.00%........... 479 59,633,158.36 48.02
Greater than 90.00%..... 208 28,106,247.48 22.63
--- --------------- ------
Total............... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
14
<PAGE>
Month of Next Rate Adjustment--Initial and Additional Group II Adjustable Rate
Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Aggregate Principal Adjustable Rate Loans
Number of Loans Balance Outstanding by Outstanding Principal
Month of Next Rate Adjustment as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ----------------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
January 1999................ 1 $ 142,130.06 0.11%
April 1999.................. 2 226,310.27 0.18
May 1999.................... 9 857,220.89 0.69
June 1999................... 3 286,583.53 0.23
July 1999................... 1 88,123.72 0.07
August 1999................. 1 134,264.11 0.11
September 1999.............. 1 109,602.84 0.09
October 1999................ 1 22,653.96 0.02
November 1999............... 1 99,550.79 0.08
December 1999............... 2 616,992.23 0.50
January 2000................ 2 265,555.71 0.21
February 2000............... 2 275,764.54 0.22
March 2000.................. 4 786,792.33 0.63
April 2000.................. 4 625,513.05 0.50
May 2000.................... 6 1,222,227.77 0.98
June 2000................... 17 2,316,256.67 1.87
July 2000................... 21 2,685,808.38 2.16
August 2000................. 43 5,407,394.65 4.35
September 2000.............. 124 16,241,065.30 13.08
October 2000................ 174 21,905,045.49 17.64
November 2000............... 211 25,728,499.33 20.72
December 2000............... 169 20,787,449.39 16.74
January 2001................ 107 13,055,195.86 10.51
February 2001............... 43 5,354,975.00 4.31
July 2001................... 1 37,322.28 0.03
August 2001................. 2 177,928.91 0.14
September 2001.............. 3 296,071.64 0.24
October 2001................ 9 828,889.92 0.67
November 2001............... 14 1,838,086.65 1.48
December 2001............... 10 1,447,240.73 1.17
January 2002................ 1 105,053.41 0.08
February 2002............... 1 88,940.80 0.07
December 2010............... 1 111,950.34 0.09
--- --------------- ------
Total................... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
15
<PAGE>
Distribution of Gross Margin--Initial and Additional Group II Adjustable Rate
Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Aggregate Principal Adjustable Rate Loans
Number of Loans Balance Outstanding by Outstanding Principal
Gross Margin as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ------------ ------------------ ------------------- --------------------------
<S> <C> <C> <C>
Less than 4.750%........ 3 $ 382,798.29 0.31%
4.750 to 4.999%......... 6 659,463.33 0.53
5.000 to 5.249%......... 11 1,385,757.39 1.12
5.250 to 5.499%......... 19 2,864,000.23 2.31
5.500 to 5.749%......... 34 4,457,801.64 3.59
5.750 to 5.999%......... 93 11,621,179.05 9.36
6.000 to 6.249%......... 90 11,972,226.68 9.64
6.250 to 6.499%......... 140 18,866,520.13 15.19
6.500 to 6.749%......... 129 17,768,809.08 14.31
6.750 to 6.999%......... 165 22,445,036.72 18.08
7.000 to 7.249%......... 69 8,531,837.89 6.87
7.250 to 7.499%......... 52 5,702,308.72 4.59
7.500 to 7.749%......... 50 5,602,115.74 4.51
7.750 to 7.999%......... 37 3,347,128.43 2.70
8.000 to 8.249%......... 32 2,789,949.22 2.25
8.250 to 8.499%......... 12 981,678.62 0.79
8.500 to 8.749%......... 23 2,090,342.09 1.68
8.750 to 8.999%......... 8 1,224,244.92 0.99
9.000 to 9.249%......... 6 398,128.05 0.32
9.250 to 9.499%......... 3 322,473.15 0.26
9.500 to 9.749%......... 3 192,077.10 0.15
Greater than 9.749%..... 6 566,584.08 0.46
--- --------------- ------
Total............... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
16
<PAGE>
Maximum Loan Rates--Initial and Additional Group II Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial and
Additional Group II
Adjustable Rate Loans
Number of Loans Aggregate Principal by Outstanding Principal
as of Cut-off Balance Outstanding Balance as of
Maximum Loan Rates Date as of Cut-off Date Cut-off Date
- ------------------ --------------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 13.000%....... 198 $ 26,359,787.98 21.23%
13.000 to 13.249%....... 10 1,097,902.56 0.88
13.250 to 13.499%....... 20 2,275,631.59 1.83
13.500 to 13.749%....... 18 2,129,122.35 1.71
13.750 to 13.999%....... 25 3,589,172.40 2.89
14.000 to 14.249%....... 12 1,728,798.54 1.39
14.250 to 14.499%....... 24 2,873,875.69 2.31
14.500 to 14.749%....... 63 9,813,020.43 7.90
14.750 to 14.999%....... 115 14,830,031.80 11.94
15.000 to 15.249%....... 38 5,053,583.38 4.07
15.250 to 15.499%....... 71 9,324,421.19 7.51
15.500 to 15.749%....... 67 8,394,131.19 6.76
15.750 to 15.999%....... 106 13,448,574.19 10.83
16.000 to 16.249%....... 30 3,465,229.11 2.79
16.250 to 16.499%....... 47 5,808,861.49 4.68
16.500 to 16.749%....... 35 3,575,983.91 2.88
16.750 to 16.999%....... 46 4,699,031.46 3.78
17.000 to 17.249%....... 11 1,027,056.02 0.83
17.250 to 17.499%....... 16 1,619,992.15 1.30
17.500 to 17.749%....... 8 572,111.87 0.46
17.750 to 17.999%....... 7 599,972.13 0.48
18.000 to 18.249%....... 8 570,314.75 0.46
18.250 to 18.499%....... 4 365,867.15 0.29
18.500 to 18.749%....... 5 368,054.11 0.30
18.750 to 18.999%....... 2 122,787.60 0.10
19.000 to 19.249%....... 0 0.00 0.00
19.250 to 19.499%....... 0 0.00 0.00
19.500 to 19.749%....... 2 222,920.68 0.18
19.750 to 19.999%....... 0 0.00 0.00
Greater than 19.999%.... 3 236,224.83 0.19
--- --------------- ------
Total............... 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
17
<PAGE>
Minimum Loan Rates--Initial and Additional Group II Adjustable Rate Loans
<TABLE>
<CAPTION>
% of Initial
and Additional Group II
Adjustable Rate
Number of Loans
Loans Aggregate Principal by Outstanding Principal
as of Cut- Balance Outstanding Balance as of
Minimum Loan Rates off Date as of Cut-off Date Cut-off Date
- ------------------ ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 7.250% ...... 3 485,366.63 0.39%
7.250 to 7.499% ...... 2 232,907.19 0.19
7.500 to 7.749% ...... 4 571,879.84 0.46
7.750 to 7.999% ...... 29 4,932,335.60 3.97
8.000 to 8.249% ...... 12 2,044,017.00 1.65
8.250 to 8.499% ...... 31 4,775,607.54 3.85
8.500 to 8.749% ...... 83 12,840,748.20 10.34
8.750 to 8.999% ...... 158 21,201,072.00 17.07
9.000 to 9.249% ...... 54 6,476,256.39 5.22
9.250 to 9.499% ...... 125 14,929,222.85 12.02
9.500 to 9.749% ...... 78 10,086,812.23 8.12
9.750 to 9.999% ...... 165 21,155,101.34 17.04
10.000 to 10.249% ...... 34 4,054,587.56 3.27
10.250 to 10.499% ...... 52 5,683,410.24 4.58
10.500 to 10.749% ...... 41 4,048,405.25 3.26
10.750 to 10.999% ...... 45 4,162,180.58 3.35
11.000 to 11.249% ...... 19 1,700,417.44 1.37
11.250 to 11.499% ...... 16 1,323,900.84 1.07
11.500 to 11.749% ...... 17 1,450,879.44 1.17
11.750 to 11.999% ...... 9 713,742.50 0.57
12.000 to 12.249% ...... 1 62,982.13 0.05
12.250 to 12.499% ...... 2 145,550.04 0.12
12.500 to 12.749% ...... 4 355,619.03 0.29
12.750 to 12.999% ...... 2 210,616.44 0.17
13.000 to 13.249% ...... 2 120,011.09 0.10
13.250 to 13.499% ...... 2 379,149.16 0.31
13.500 to 13.749% ...... 1 29,682.00 0.02
Greater than 13.749% ... 0 -- 0.00
--- --------------- ------
Total 991 $124,172,460.55 100.00%
=== =============== ======
</TABLE>
18
