<PAGE>
$668,500,000 Offered (approximate)
[LOGO OF CONSECO]
Conseco Finance Securitizations Corp.
Seller
Conseco Finance Corp.
Servicer
Certificates for Manufactured Housing Loans Series 2000-5
--------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in light of the same
warnings, lack of assurance, and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared on the
basis of certain assumptions (including, in certain cases, assumptions specified
by the recipient hereof) regarding payments, interest rates, losses and other
matters, including, but not limited to, the assumptions described in the
Offering Document. Neither Lehman Brothers Inc., nor any of its affiliates, make
any representation or warranty as to the actual rate or timing of payments on
any of the underlying assets or the payments or yield on the securities. This
information supersedes any prior versions hereof and will be deemed to be
superseded by any subsequent versions (including, with respect to any
descriptions of the securities or underlying assets, the information contained
in the Offering Document).
<PAGE>
TERM SHEET DATED September 26, 2000
Conseco Finance Securitizations Corp.
Certificates for Manufactured Housing Contracts, Series 2000-5
$668,500,000 (Approximate)
Subject to Revision
Seller Conseco Finance Securitizations Corp.
Servicer Conseco Finance Corp., formerly Green Tree Financial Corporation
Trustee U.S. Bank National Association, St. Paul, MN
Underwriters Lehman Brothers (lead),
Banc of America Securities LLC (co),
Credit Suisse First Boston (co),
Merrill Lynch (co).
<TABLE>
<CAPTION>
OFFERED CERTIFICATES:
-------------------------------------------------------------------------------------------------------------------------
Ratings (S&P/ WAL at Exp. Final
Amount Moody's/Fitch) 175% MHP Maturity
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
To Call
A-1 $121,000,000 AAA/Aaa/AAA 0.95 09/2002
A-2 $62,000,000 AAA/Aaa/AAA 2.33 08/2003
A-3 $62,000,000 AAA/Aaa/AAA 3.30 08/2004
A-4 $96,000,000 AAA/Aaa/AAA 5.01 03/2007
A-5 $36,000,000 AAA/Aaa/AAA 6.99 06/2008
A-6 $110,000,000 AAA/Aaa/AAA 9.99 06/2013
A-7 $97,500,000 AAA/Aaa/AAA 12.90 09/2013
M-1 $35,000,000 AA/Aa2/AA 9.28 09/2013
M-2 $28,000,000 A/A2/A 9.28 09/2013
B-1 $21,000,000 BBB/Baa2/BBB 5.63 04/2008
To Maturity
A-7 $97,500,000 AAA/Aaa/AAA 16.22 09/2021
M-1 $35,000,000 AA/Aa2/AA 9.86 10/2018
M-2 $28,000,000 A/A2/A 9.86 10/2018
-------------------------------------------------------------------------------------------------------------------------
Total Balance $668,500,000
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
FOR INFORMATION CONCERNING CERTAIN RISK FACTORS THAT SHOULD BE CONSIDERED BY
PROSPECTIVE INVESTORS, SEE "RISK FACTORS" IN THE PROSPECTUS SUPPLEMENT.
CAPITALIZED TERMS USED HEREIN AND NOT OTHERWISE DEFINED HAVE THE MEANINGS SET
FORTH IN THE PROSPECTUS AND PROSPECTUS SUPPLEMENT.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
2
<PAGE>
CUT-OFF DATE: August 31, 2000 for the Initial Contracts and
September 30, 2000 for the Additional Contracts. For
each Subsequent Contract, the last day of either the
calendar month in which the subsequent closing occurs
or the last day of the preceding month, as specified
by the Seller.
EXP. PRICING: Week of September 25, 2000
EXP. SETTLEMENT/
CLOSING DATE: October 5, 2000
LEGAL FINAL: February 1, 2032
REMITTANCE DATE: The 1st day of each month (or if such 1st day is not a
business day, the next succeeding business day),
commencing in November 2000.
OTHER CERTIFICATES: In addition to the Offered Certificates, the Class
B-2, Class B-3I and Class C Certificates will also be
issued. The Class B-3I Certificates are interest-only
Certificates and the Class C Certificates (Class C
Master and Class C Subsidiary Certificates) are
residual Certificates. The Class B-2, Class B-3I and
Class C Certificates will be retained by an affiliate
of Conseco Finance Corp. and will be fully
subordinated to the Offered Certificates.
ERISA: Subject to the conditions set forth in the Prospectus
Supplement, the Class A Certificates are ERISA
eligible. No transfer of a Class M or a Class B
Certificate will be permitted to be made to any
benefit plan unless such plan delivers an opinion of
counsel to the Trustee.
SMMEA: The Class A and the Class M-1 Certificates will not
constitute "mortgage related securities" under the
Secondary Mortgage Market Enhancement Act of 1984
("SMMEA") until such time as the amount in the
Pre-Funding Account is reduced to zero. At such time,
the Class A and Class M-1 Certificates will be "legal
investments" for certain types of institutional
investors to the extent provided in SMMEA. The Class
M-2, Class B-1 and Class B-2 Certificates are not
SMMEA eligible.
TAX STATUS: Two separate REMIC Elections will be made with respect
to the Trust for federal income tax purposes.
OPTIONAL PURCHASE/
AUCTION: 20% cleanup call or auction sale subject to certain
requirements if call is not exercised.
THE CONTRACT POOL: On the Closing Date, the Trust expects to purchase (i)
manufactured housing contracts having an aggregate
principal balance of approximately $363,950,052.05 as
of the Cut-off Date (the "Initial Contracts") and (ii)
additional manufactured housing contracts (the
"Additional Contracts").
PRE-FUNDING ACCOUNT: On the Closing Date, a portion of the proceeds from
the sale of the Certificates (the "Pre-Funded Amount")
will be deposited with the Trustee in a segregated
account (the "Pre-Funding Account") and used by the
Trust to purchase additional contracts (the
"Subsequent Contracts") during a period (not longer
than 90 days) following the Closing Date (the
"Pre-Funding Period") for inclusion in the Contract
Pool. The Subsequent Contracts will not exceed 25% of
the total Contract Pool. The Pre-Funded Amount will be
reduced during the Pre-Funding Period by the amounts
thereof used to fund such purchases. Any amounts
remaining in the Pre-Funding Account following the
Pre-Funding Period will be paid to the Class A
Certificateholders, as further specified in the
Prospectus Supplement, on the next Remittance Date.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
3
<PAGE>
CREDIT ENHANCEMENT: Class A 17.50% subordination (Class M-1, Class M-2,
Class B-1, Class B-2 and
overcollateralization) and Excess Spread
Class M-1 12.50% subordination (Class M-2, Class B-1,
Class B-2 and overcollateralization) and
Excess Spread
Class M-2 8.50% subordination (Class B-1, Class B-2
and overcollateralization) and Excess
Spread
Class B-1 5.50% subordination (Class B-2 and
overcollateralization) and Excess Spread
There will be initial overcollateralization of
approximately 1.0% building to 2.0% (as described in
the next succeeding paragraph) of the sum of (i)
aggregate Cut-Off Date principal balance of the
Contracts included in the Trust as of the Closing Date
and (ii) the amount on deposit in the Pre-Funding
Account on the Closing Date.
The Certificateholders will be entitled to receive
additional distributions in respect of principal on
each Remittance Date to the extent there is any Amount
Available remaining after payment of all interest and
principal on the Certificates and the Monthly
Servicing Fee to the Servicer for such Remittance
Date, until such distributions, in the aggregate,
equal 1.0% of (i) the aggregate Cut-Off Date principal
balance of Contracts included in the Trust as of the
Closing Date and (ii) the amount on deposit in the
Pre-Funding Account on the Closing Date. Such
additional distributions in respect of principal will
be paid in accordance with the distribution priorities
described herein and in the Prospectus and Prospectus
Supplement.
DISTRIBUTIONS: Certificateholders will be entitled to receive on each
Remittance Date commencing in November 2000, to the
extent that the Amount Available in the Certificate
Account is sufficient therefor, distributions
allocable to interest and principal, as described in
the Prospectus Supplement. The Amount Available on
each Remittance Date generally includes the sum of (i)
payments on the Contracts due and received during the
related Due Period, (ii) prepayments and other
unscheduled collections received during the related
Due Period, and (iii) all collections of principal on
the Contracts received during the Due Period in which
such Remittance Date occurs up to and including the
third business day prior to such Remittance Date (but
in no event later than the 25th day of the month prior
to such Remittance Date), minus (iv) with respect to
all Remittance Dates other than the Remittance Date in
November 2000, all collections in respect of principal
on the Contracts received during the related Due
Period up to and including the third business day
prior to the preceding Remittance Date (but in no
event later than the 25th day of the prior month).
The Amount Available in the Certificate Account with
respect to any Remittance Date will be applied first
to the distribution of interest on the Class A, Class
M-1, Class M-2 and Class B-1 Certificates, and then to
the distribution of principal on the Class A, Class
M-1, Class M-2 and Class B-1 Certificates, in the
manner and order of priority described below, and then
to the distribution of interest and principal on the
Class B-2 Certificates.
The "Due Period" with respect to all Remittance Dates
other than the Remittance Date in November 2000, is
the period from and including the 16th day of the
second month preceding such Remittance Date, to and
including the 15th day of the month immediately
preceding such Remittance Date.
With respect to the Remittance Date in November 2000,
the Due Period is the period from and including
September 1, 2000 to and including October 15, 2000.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
4
<PAGE>
INTEREST ON THE
CLASS A, CLASS M-1,
CLASS M-2 AND CLASS B-1
CERTIFICATES: Interest will be distributed first to each of the
Class A-1, Class A-2, Class A-3, Class A-4, Class A-5,
Class A-6, and Class A-7 Certificates, then to the
Class M-1 Certificates, then to the Class M-2
Certificates and then to the Class B-1 Certificates.
Interest on the outstanding Class A Principal Balance,
Class M-1 Adjusted Principal Balance, Class M-2
Adjusted Principal Balance, and Class B-1 Adjusted
Principal Balance, as applicable, will accrue from the
Closing Date or from the most recent Remittance Date
on which interest has been paid, to but excluding the
following Remittance Date.
Each Class of Certificates will bear interest at a
fixed Pass-Through Rate calculated on a 30/360 basis.
The "Class M-1 Adjusted Principal Balance" as of any
Remittance Date is the Class M-1 Principal Balance
less any Class M-1 Liquidation Loss Amount. The Class
M-1 Principal Balance is the Original Class M-1
Principal Balance less all amounts previously
distributed on account of principal of the Class M-1
Certificates.
The "Class M-2 Adjusted Principal Balance" as of any
Remittance Date is the Class M-2 Principal Balance
less any Class M-2 Liquidation Loss Amount. The Class
M-2 Principal Balance is the Original Class M-2
Principal Balance less all amounts previously
distributed on account of principal of the Class M-2
Certificates.
The "Class B-1 Adjusted Principal Balance" as of any
Remittance Date is the Class B-1 Principal Balance
less any Class B-1 Liquidation Loss Amount. The Class
B-1 Principal Balance is the Original Class B-1
Principal Balance less all amounts previously
distributed on account of principal of the Class B-1
Certificates.
In the event that, on a particular Remittance Date,
the Amount Available in the Certificate Account, after
payment of interest on each Class of Certificates that
is senior to such Class of Certificates, is not
sufficient to make a full distribution of interest to
the holders of such Class of Certificates, the amount
of interest to be distributed in respect of such Class
will be allocated among the outstanding Certificates
of such Class pro rata in accordance with their
respective entitlements to interest, and the amount of
the shortfall will be carried forward and added to the
amount such holders will be entitled to receive on the
next Remittance Date. (For this purpose, all Class A
certificates are considered a single class.) Any such
amount so carried forward will bear interest at the
applicable Remittance Rate, to the extent legally
permissible.
PRINCIPAL ON THE
CLASS A, CLASS M-1,
CLASS M-2 AND CLASS B-1
CERTIFICATES: After the payment of all interest distributable to the
Class A, Class M-1, Class M-2, and Class B-1
Certificateholders, principal will be distributable in
the following manner:
On each Remittance Date, the Class A Percentage of the
Formula Principal Distribution Amount (as defined in
the Prospectus Supplement) will be distributed
sequentially to the Class A-1, Class A-2, Class A-3,
Class A-4, Class A-5, Class A-6, and Class A-7
Certificateholders.
The Class A Percentage for any Remittance Date will
equal a fraction, expressed as a percentage, the
numerator of which is the Class A Principal Balance as
of such Remittance Date, and the denominator of which
is the sum of: (i) the Class A Principal Balance, (ii)
if the Class M-1 Distribution Test is satisfied on
such Remittance Date, the Class M-1 Principal Balance,
otherwise zero, (iii) if the Class M-2 Distribution
Test is satisfied on such Remittance Date, the Class
M-2 Principal Balance, otherwise zero, and (iv) if the
Class B Distribution Test is satisfied on such
Remittance Date, the sum of the Class B Principal
Balance and the Overcollateralization Amount,
otherwise zero, all as of such Remittance Date.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
5
<PAGE>
The Class M-1 Percentage of the Formula Principal
Distribution Amount (as defined in the Prospectus
Supplement) will be distributed to the Class M-1
Certificateholders on each Remittance Date on which
(i) the Class A Principal Balance has been reduced to
zero or (ii) the Class M-1 Distribution Test is
satisfied.
The Class M-1 Percentage for any Remittance Date will
equal (a) zero, if the Class A Principal Balance has
not yet been reduced to zero and the Class M-1
Distribution Test is not satisfied or (b) a fraction,
expressed as a percentage, the numerator of which is
the Class M-1 Principal Balance as of such Remittance
Date, and the denominator of which is the sum of: (i)
the Class A Principal Balance, if any, (ii) the Class
M-1 Principal Balance, (iii) if the Class M-2
Distribution Test is satisfied on such Remittance
Date, the Class M-2 Principal Balance, otherwise zero
and (iv) if the Class B Distribution Test is satisfied
on such Remittance Date, the sum of the Class B
Principal Balance and the Overcollateralization
Amount, otherwise zero, all as of such Remittance
Date.
The Class M-1 Distribution Test will be satisfied if
each of the following tests is satisfied: (i) the
Remittance Date occurs in or after November 2004; (ii)
the Average Sixty-Day Delinquency Ratio Test (as
defined in the Pooling and Servicing Agreement (the
"Agreement")) as of such Remittance Date must not
exceed 5.00%; (iii) Cumulative Realized Losses (as
defined in the Agreement) as of such Remittance Date
must not exceed a certain specified percentage of the
Cut-off Date Pool Principal Balance, depending on the
year in which such Remittance Date occurs; (iv) the
Current Realized Loss Ratio (as defined in the
Agreement) as of such Remittance Date must not exceed
2.75%; and (v) the sum of the Class M-1 Principal
Balance, the Class M-2 Principal Balance, the Class B
Principal Balance, and the Overcollateralization
Amount divided by the Pool Scheduled Principal Balance
as of the immediately preceding Remittance Date must
be equal to or greater than 26.25%.
The Class M-2 Percentage of the Formula Principal
Distribution Amount (as defined in the Prospectus
Supplement) will be distributed to the Class M-2
Certificateholders on each Remittance Date on which
(i) the Class A Principal Balance and Class M-1
Principal Balance have been reduced to zero or (ii)
the Class M-2 Distribution Test is satisfied.
The Class M-2 Percentage for any Remittance Date will
equal (a) zero, if the Class A Principal Balance and
Class M-1 Principal Balance have not yet been reduced
to zero and the Class M-2 Distribution Test is not
satisfied or (b) a fraction, expressed as a
percentage, the numerator of which is the Class M-2
Principal Balance as of such Remittance Date, and the
denominator of which is the sum of: (i) the Class A
Principal Balance, if any, (ii) the Class M-1
Principal Balance, if any, (iii) the Class M-2
Principal Balance, and (iv) if the Class B
Distribution Test is satisfied on such Remittance
Date, the sum of the Class B Principal Balance and the
Overcollateralization Amount, otherwise zero, all as
of such Remittance Date.
The Class M-2 Distribution Test will be satisfied if
each of the following tests is satisfied: (i) the
Remittance Date occurs in or after November 2004; (ii)
the Average Sixty-Day Delinquency Ratio Test (as
defined in the Agreement) as of such Remittance Date
must not exceed 5.00%; (iii) Cumulative Realized
Losses (as defined in the Agreement) as of such
Remittance Date must not exceed a certain specified
percentage of the Cut-off Date Pool Principal Balance,
depending on the year in which such Remittance Date
occurs; (iv) the Current Realized Loss Ratio (as
defined in the Agreement) as of such Remittance Date
must not exceed 2.75%; and (v) the sum of the Class
M-2 Principal Balance, the Class B Principal Balance,
and the Overcollateralization Amount divided by the
Pool Scheduled Principal Balance as of the immediately
preceding Remittance Date must be equal to or greater
than 18.75%.
The Class B Percentage of the Formula Principal
Distribution Amount (as defined in the Prospectus
Supplement) will be distributed to the Class B-1
Certificateholders on each Remittance Date on which
(i) the Class A Principal Balance, the Class M-1
Principal Balance and the Class M-2 Principal Balance
have been reduced to zero or (ii) the Class B
Distribution Test is satisfied.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
6
<PAGE>
The Class B Percentage for any Remittance Date will
equal (a) zero, if the Class A Principal Balance, the
Class M-1 Principal Balance and the Class M-2
Principal Balance have not yet been reduced to zero
and the Class B Distribution Test is not satisfied or
(b) a fraction, expressed as a percentage, the
numerator of which is the sum of the Class B Principal
Balance and the Overcollateralization Amount as of
such Remittance Date, and the denominator of which is
the sum of: (i) the Class A Principal Balance, if any,
(ii) the Class M-1 Principal Balance, if any, (iii)
the Class M-2 Principal Balance, if any, and (iv) the
sum of the Class B Principal Balance and the
Overcollateralization Amount, all as of such
Remittance Date.
The Class B Distribution Test will be satisfied if
each of the following tests is satisfied: (i) the
Remittance Date occurs in or after November 2004; (ii)
the Average Sixty-Day Delinquency Ratio Test (as
defined in the Agreement) as of such Remittance Date
must not exceed 5.00%; (iii) the Cumulative Realized
Losses (as defined in the Agreement) as of such
Remittance Date must not exceed a certain specified
percentage of the Cut-off Date Pool Principal Balance,
depending on the year in which such Remittance Date
occurs; (iv) the Current Realized Loss Ratio (as
defined in the Agreement) as of such Remittance Date
must not exceed 2.75%; (v) the Class B Principal
Balance plus the Overcollateralization amount divided
by the Pool Scheduled Principal Balance as of the
immediately preceding Remittance Date must be equal to
or greater than 12.75%; and (vi) the Class B Principal
Balance must not be less than $14,000,000.
PURCHASE OPTION;
AUCTION SALE Commencing on the first Remittance Date when the
aggregate scheduled principal balance of the contracts
is less than or equal to 20% of the aggregate Cut-off
Date principal balance of the contracts, the holder of
the Class C Subsidiary Certificate (see "Other
Certificates" herein) will have the right to purchase
all of the outstanding contracts, at a price
sufficient to pay the aggregate unpaid principal
balance of the certificates and all accrued and unpaid
interest thereon.
If the holder of the Class C Subsidiary Certificate
does not exercise this purchase option, then on the
next Remittance Date the trustee will begin an auction
process to sell the contracts and the other trust
assets at the highest possible price, but the trustee
cannot sell the trust assets and liquidate the trust
unless the proceeds of such sale are sufficient to pay
the aggregate unpaid principal balance of the
certificates and all accrued and unpaid interest
thereon. If the first auction of the trust property is
not successful because the highest bid received was
not sufficient to pay the amount set forth in the
previous sentence, then on each Remittance Date
thereafter all of the Amount Available remaining after
payments of interest and principal due on all
Certificates and payment of the monthly Servicing Fee
will be used to make additional payments of principal
to the Class M-1, Class M-2, Class B-1 and Class B-2
Certificates pro rata based on the then outstanding
principal balance of such Certificates. In addition,
the trustee will continue to conduct an auction of the
contracts every third month thereafter, until an
acceptable bid is received for the trust property. The
Class C Subsidiary Certificateholder's purchase option
will expire upon the trustee's acceptance of a
qualifying bid.
CLASS B-2 INTEREST: Interest on the outstanding Class B-2 Principal
Balance will accrue from the Closing Date, or from the
most recent Remittance Date on which interest has been
paid to but excluding the following Remittance Date.
To the extent of the remaining Amount Available, if
any, for a Remittance Date after payment of all
interest and principal then payable on the Class A,
Class M-1, Class M-2 and Class B-1 Certificates,
interest will be paid to the Class B-2
Certificateholders on such Remittance Date at the
Class B-2 Remittance Rate on the then outstanding
Class B-2 Principal Balance. The Class B-2 Principal
Balance is the Original Class B-2 Principal Balance
less all amounts previously distributed to the Class
B-2 Certificateholders on account of principal.
In the event that, on a particular Remittance Date,
the remaining Amount Available in the Certificate
Account is not sufficient to make a full distribution
of interest to the Class B-2 Certificateholders, the
amount of the deficiency will be carried forward as an
amount that the Class B-2 Certificateholders are
entitled to receive on the next Remittance Date. Any
amount so
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
7
<PAGE>
carried forward will, to the extent legally
permissible, bear interest at the Class B-2 Remittance
Rate.
CLASS B-2 PRINCIPAL: The Class B-2 Certificateholders will be entitled to
receive principal on each Remittance Date on which (i)
the Class B-1 Principal Balance has been reduced to
zero and (ii) the Class B Distribution Test is
satisfied; provided, however, that if the Class A
Principal Balance, the Class M-1 Principal Balance,
the Class M-2 Principal Balance and the Class B-1
Principal Balance have been reduced to zero, the Class
B-2 Certificateholders will nevertheless be entitled
to receive principal. See "Description of the
Certificates--Class B-2 Principal" in the Prospectus
Supplement.
On each Remittance Date on which the Class B-2
Certificateholders are entitled to receive principal,
the Class B Percentage of the Formula Principal
Distribution Amount will be distributed, to the extent
of the remaining Amount Available after payment of
interest on the Class B-2 Certificates, to the Class
B-2 Certificateholders until the Class B-2 Principal
Balance has been reduced to zero.
LOSSES ON LIQUIDATED
CONTRACTS: If Net Liquidation Proceeds from Liquidated Contracts
in the respective collection period are less than the
Scheduled Principal Balance of such Liquidated
Contracts, the shortfall amount will be absorbed by
the Class B-3I Certificateholders, then the Monthly
Servicing Fee (as long as Conseco Finance Corp. is the
Servicer), then the Overcollateralization Amount, then
the Class B-2 Certificateholders, then the Class B-1
Certificateholders, then the Class M-2
Certificateholders and then the Class M-1
Certificateholders, since a portion of the Amount
Available equal to such shortfall and otherwise
distributable to them will be paid to the Class A
Certificateholders.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
8
<PAGE>
MANUFACTURED HOUSING CONTRACT CHARACTERISTICS
The information presented below relates to the Initial Contracts, which
will represent approximately 52% of the Contract Pool. Although the
characteristics of the Additional Contracts or the Subsequent Contracts will
differ from the characteristics of the Initial Contracts shown below, Conseco
Finance Corp. does not expect that the characteristics of the Additional or
Subsequent Contracts sold to the Trust will vary materially from the information
concerning the Initial Contracts herein.
THE INITIAL CONTRACT POOL AS OF THE CUT-OFF DATE
----------------------------------------------------------------------------
Number of Contracts: 8,076
Wgt. Avg. Contract Rate: 11.921%
Range of Rates: 6.250% - 20.500%
Wgt. Avg. Orig. Maturity: 329 months
Wgt. Avg. Rem. Maturity: 328 months
Avg. Current Balance: $45,065.63
Wgt. Avg. LTV: 88.01%
New/Used: 73.33%/26.67%
Park/Private: 28.86%/71.14%
Single/Double: 27.96%/72.04%
Conventional: 64.62%
Land/Home: 35.38%
FHA/VA: 0.00%
----------------------------------------------------------------------------
<TABLE>
<CAPTION>
YEARS OF ORIGINATION OF INITIAL CONTRACTS
--------------------------------------------------------------------------------------------------------------
Number of Contracts Aggregate Principal % of Contracts by Outstanding
Origination Year as of the Cut-Off Balance Outstanding as of Principal Balance as of the
Date the Cut-Off Date Cut-Off Date
<S> <C> <C> <C>
1988 1 7,472.77 *
1989 1 7,109.67 *
1992 1 2,240.27 *
1993 2 56,180.68 0.02
1994 4 41,546.99 0.01
1995 2 31,961.51 0.01
1996 1 22,468.99 0.01
1997 4 119,095.67 0.03
1998 4 242,530.24 0.07
1999 32 2,570,733.88 0.71
2000 8,024 360,848,711.38 99.15
==============================================================================================================
Total: 8,076 $363,950,052.05 100.00%
==============================================================================================================
</TABLE>
* Indicates an amount greater than 0.00% but less than 0.005%.
(1) Percentages may not add to 100% due to rounding.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
9
<PAGE>
<TABLE>
<CAPTION>
GEOGRAPHIC DISTRIBUTION OF INITIAL CONTRACT OBLIGORS
-------------------------------------------------------------------------------------------------------------------
Number of Aggregate Principal % of Contracts by
Contracts as of Balance Outstanding as of Outstanding Principal Balance
States the Cut-Off Date the Cut-Off Date as of the Cut-Off Date
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alabama 549 $19,815,544.75 5.44%
Arizona 155 8,098,352.00 2.23
Arkansas 176 6,442,971.41 1.77
California 217 11,467,924.98 3.15
Colorado 170 7,929,010.78 2.18
Connecticut 4 175,142.50 0.05
Delaware 35 1,376,137.25 0.38
Florida 307 15,109,215.78 4.15
Georgia 331 15,267,448.29 4.19
Idaho 25 1,178,552.47 0.32
Illinois 74 3,079,549.62 0.85
Indiana 254 11,174,995.71 3.07
Iowa 50 2,142,289.64 0.59
Kansas 78 3,016,462.93 0.83
Kentucky 210 9,242,833.97 2.54
Louisiana 125 4,567,390.84 1.25
Maine 79 4,811,525.51 1.32
Maryland 26 980,279.11 0.27
Massachusetts 5 130,197.69 0.04
Michigan 563 29,160,035.65 8.01
Minnesota 198 6,370,691.42 1.75
Mississippi 191 7,332,186.78 2.01
Missouri 221 7,552,684.17 2.08
Montana 47 1,640,640.89 0.45
Nebraska 24 1,273,188.71 0.35
Nevada 45 2,147,548.30 0.59
New Hampshire 92 3,698,319.01 1.02
New Jersey 3 97,335.92 0.03
New Mexico 154 6,338,194.04 1.74
New York 103 6,051,586.04 1.66
North Carolina 655 31,269,950.98 8.59
North Dakota 18 650,057.34 0.18
Ohio 233 11,719,271.32 3.22
Oklahoma 202 8,279,116.66 2.27
Oregon 80 5,467,901.09 1.50
Pennsylvania 154 6,363,884.73 1.75
Rhode Island 1 24,745.35 0.01
South Carolina 362 15,657,739.28 4.30
South Dakota 30 1,201,619.72 0.33
Tennessee 254 10,562,807.51 2.90
Texas 959 43,980,838.43 12.08
Utah 29 1,534,347.44 0.42
Vermont 44 2,773,146.35 0.76
Virginia 155 6,092,645.16 1.67
Washington 155 11,222,365.12 3.08
West Virginia 141 5,644,947.78 1.55
Wisconsin 52 2,006,344.52 0.55
Wyoming 41 1,830,087.11 0.50
===================================================================================================================
Total: 8,076 $363,950,052.05 100.00%
===================================================================================================================
</TABLE>
(1) Percentages may not add to 100% due to rounding.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
10
<PAGE>
<TABLE>
<CAPTION>
DISTRIBUTION OF ORIGINAL INITIAL CONTRACT AMOUNTS
----------------------------------------------------------------------------------------------------------------
Number of Aggregate Principal % of Contracts by
Original Contract Contracts as of Balance Outstanding as Outstanding Principal Balance
Amount (in Dollars) the Cut-Off Date of the Cut-Off Date as of the Cut-Off Date
----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
4,687.00 - 9,999.99 199 $1,593,030.48 0.44%
10,000.00 - 19,999.99 914 14,121,395.54 3.88
20,000.00 - 29,999.99 1,500 38,181,028.75 10.49
30,000.00 - 39,999.99 1,647 57,249,596.55 15.73
40,000.00 - 49,999.99 1,068 47,768,599.85 13.13
50,000.00 - 59,999.99 883 48,452,224.49 13.31
60,000.00 - 69,999.99 610 39,345,533.48 10.81
70,000.00 - 79,999.99 410 30,615,942.58 8.41
80,000.00 - 89,999.99 289 24,497,060.39 6.73
90,000.00 - 99,999.99 198 18,819,016.06 5.17
100,000.00 - 109,999.99 124 12,980,766.30 3.57
110,000.00 - 119,999.99 92 10,559,712.58 2.90
120,000.00 - 129,999.99 56 6,978,480.25 1.92
130,000.00 - 139,999.99 42 5,654,450.13 1.55
140,000.00 - 149,999.99 19 2,730,671.99 0.75
150,000.00 - 159,999.99 10 1,547,007.60 0.43
160,000.00 - 169,999.99 3 492,893.36 0.14
170,000.00 - 179,999.99 3 538,348.88 0.15
180,000.00 - 189,999.99 4 744,672.84 0.20
190,000.00 - 199,999.99 2 376,613.01 0.10
210,000.00 - 219,999.99 2 431,026.79 0.12
270,000.00 - 279,999.99 1 271,980.15 0.07
================================================================================================================
Total: 8,076 $363,950,052.05 100.00%
================================================================================================================
</TABLE>
(1) Percentages may not add to 100% due to rounding.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
11
<PAGE>
<TABLE>
<CAPTION>
CONTRACT RATE OF INITIAL CONTRACTS
--------------------------------------------------------------------------------------------------------------
Number of Aggregate Principal % of Contracts by Outstanding
Contracts as of Balance Outstanding as of Principal Balance as of the
Contract Rate the Cut-Off Date the Cut-Off Date Cut-Off Date
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6.000 - 6.999 2 $218,979.00 0.06%
7.000 - 7.999 36 3,259,898.22 0.90
8.000 - 8.999 488 42,502,890.20 11.68
9.000 - 9.999 573 46,661,989.36 12.82
10.000 - 10.999 555 37,140,312.31 10.20
11.000 - 11.999 1,080 56,717,608.74 15.58
12.000 - 12.999 1,366 58,912,364.22 16.19
13.000 - 13.999 1,296 42,268,169.80 11.61
14.000 - 14.999 914 29,337,773.83 8.06
15.000 - 15.999 620 16,583,248.99 4.56
16.000 - 16.999 403 12,243,035.02 3.36
17.000 - 17.999 470 11,768,538.50 3.23
18.000 - 18.999 240 5,696,691.97 1.57
19.000 - 19.999 32 627,067.89 0.17
20.000 - 20.999 1 11,484.00 *
==============================================================================================================
Total: 8,076 $363,950,052.05 100.00%
==============================================================================================================
</TABLE>
* Indicates an amount greater than 0.00% but less than 0.005%.
(1) Percentages may not add to 100% due to rounding.
<TABLE>
<CAPTION>
DISTRIBUTION OF ORIGINAL LOAN-TO-VALUE RATIOS OF INITIAL CONTRACTS
-----------------------------------------------------------------------------------------------------------------
Number of Aggregate Principal % of Contracts by Outstanding
Loan to Value Contracts as of Balance Outstanding as of Principal Balance
Ratio the Cut-Off Date the Cut-Off Date as of the Cut-Off Date
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 5.00 3 $158,203.35 0.04%
5.01 - 10.00 1 5,000.00 *
10.01 - 15.00 5 248,187.91 0.07
15.01 - 20.00 8 352,125.98 0.10
20.01 - 25.00 7 292,836.31 0.08
25.01 - 30.00 19 547,800.17 0.15
30.01 - 35.00 11 308,585.63 0.08
35.01 - 40.00 18 472,120.70 0.13
40.01 - 45.00 28 793,131.68 0.22
45.01 - 50.00 47 1,425,387.99 0.39
50.01 - 55.00 70 3,149,322.91 0.87
55.01 - 60.00 68 2,889,986.43 0.79
60.01 - 65.00 88 3,622,740.11 1.00
65.01 - 70.00 150 7,475,863.06 2.05
70.01 - 75.00 211 10,335,406.16 2.84
75.01 - 80.00 702 30,732,203.70 8.44
80.01 - 85.00 512 25,788,553.86 7.09
85.01 - 90.00 2,528 118,826,833.57 32.65
90.01 - 95.00 2,784 124,402,030.45 34.18
95.01 - 100.00 816 32,123,732.08 8.83
=================================================================================================================
Total: 8,076 $363,950,052.05 100.00%
=================================================================================================================
</TABLE>
* Indicates an amount greater than 0.00% but less than 0.005%.
(1) Percentages may not add to 100% due to rounding.
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
12
<PAGE>
<TABLE>
<CAPTION>
REMAINING MONTHS TO MATURITY OF INITIAL CONTRACTS
--------------------------------------------------------------------------------------------------------------
Number of Contracts Aggregate Principal % of Contracts by Outstanding
Months Remaining as of the Cut-Off Balance Outstanding as of Principal Balance
Date the Cut-Off Date as of the Cut-Off Date
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
16 - 30 5 $21,498.27 0.01%
31 - 60 107 1,097,600.61 0.30
61 - 90 99 1,599,006.90 0.44
91 - 120 441 7,017,587.39 1.93
121 - 150 60 1,183,026.92 0.33
151 - 180 796 19,008,727.43 5.22
181 - 210 4 91,173.54 0.03
211 - 240 1,066 32,490,832.75 8.93
241 - 270 2 49,645.29 0.01
271 - 300 694 23,212,428.09 6.38
301 - 330 2 75,766.55 0.02
331 - 360 4,800 278,102,758.31 76.41
==============================================================================================================
Total: 8,076 $363,950,052.05 100.00%
==============================================================================================================
</TABLE>
(1) Percentages may not add to 100% due to rounding
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
13
<PAGE>
<TABLE>
<CAPTION>
PREPAYMENT SENSITIVITIES
75% MHP 125% MHP 175% MHP 250% MHP 300% MHP
WAL/Maturity WAL/Maturity WAL/Maturity WAL/Maturity WAL/Maturity
-------------------- --------------- ---------------- --------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
To Call
A-1 1.76 04/2004 1.22 03/2003 0.95 09/2002 0.71 03/2002 0.61 01/2002
A-2 4.44 03/2006 3.03 06/2004 2.33 08/2003 1.76 11/2002 1.52 08/2002
A-3 6.37 03/2008 4.34 11/2005 3.30 08/2004 2.46 08/2003 2.12 03/2003
A-4 9.73 12/2012 6.73 05/2009 5.01 03/2007 3.47 01/2005 2.96 05/2004
A-5 13.17 12/2014 9.32 12/2010 6.99 06/2008 4.67 12/2005 3.77 10/2004
A-6 17.46 08/2021 13.00 12/2016 9.99 06/2013 6.95 12/2009 5.57 05/2008
A-7 21.07 11/2021 16.32 02/2017 12.90 09/2013 9.47 04/2010 7.96 10/2008
M-1 15.78 11/2021 11.71 02/2017 9.28 09/2013 7.51 04/2010 6.70 10/2008
M-2 15.78 11/2021 11.71 02/2017 9.28 09/2013 7.51 04/2010 6.70 10/2008
B-1 10.22 03/2014 7.07 04/2010 5.63 04/2008 5.17 04/2007 4.98 11/2006
B-2 18.52 11/2021 14.00 02/2017 11.03 09/2013 8.55 04/2010 7.46 10/2008
To Maturity
A-7 24.27 05/2028 19.98 05/2025 16.22 09/2021 12.08 12/2016 10.16 08/2014
M-1 16.36 02/2027 12.29 04/2022 9.86 10/2018 8.19 08/2015 7.46 03/2014
M-2 16.36 02/2027 12.29 04/2022 9.86 10/2018 8.19 08/2015 7.46 03/2014
B-2 20.16 02/2027 15.61 04/2022 12.59 10/2018 10.23 08/2015 9.19 03/2014
</TABLE>
The following are the assumed characteristics of the Additional and Subsequent
Contracts as of the Cut-off Date.
Additional and Subsequent Contracts
-----------------------------------
<TABLE>
<CAPTION>
Aggregate Principal Wtd. Avg. Wtd. Avg. Wtd. Avg.
Pool ID Balance Outstanding Original Term Remaining Term Contract Rate
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1 $5,286,664.30 76 76 12.158%
2 6,188,301.28 120 120 12.875
3 19,555,599.53 177 177 13.652
4 41,232,258.09 240 240 12.633
5 13,511,654.74 300 300 12.080
6 250,275,470.00 360 360 11.293
=================================================================================================
Total: $336,049,947.95 323 323 11.669%
=================================================================================================
</TABLE>
Recipients must read the statement printed on the attached cover. Do not use or
rely on this information if you have not received and reviewed this statement.
If you have not received this statement, call your Lehman Brothers account
executive for another copy.
14
