<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
ABS New Transaction
Computational Materials
-----------------------
[CONSECO (R) LOGO]
Conseco Finance Corp.
Servicer
Conseco Finance Securitizations Corp.
Seller
$882,700,000 (approximate)
Certificates for Home Equity Loans
Series 2000-F
October 18, 2000
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
1
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
The attached tables and other statistical analyses (the "Computational
Materials") are privileged and confidential and are intended for use by the
addressee only. These Computational Materials are furnished to you solely by
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by
the issuer of the securities or any of its affiliates. The issuer of these
securities has not prepared or taken part in the preparation of these materials.
None of Merrill Lynch, the issuer of the securities nor any of their affiliates
makes any representation as to the accuracy or completeness of the information
herein. The information herein is preliminary, and will be superseded by the
applicable Prospectus Supplement and by any other information subsequently filed
with the Securities and Exchange Commission. The information herein may not be
provided by the addressees to any third party other than the addressee's legal,
tax, financial and/or accounting advisors for the purposes of evaluating said
material.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be stated therein. As such, no assurance can be given as to the
accuracy, appropriateness or completeness of the Computational Materials in any
particular context; or as to whether the Computational Materials and/or the
assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment assumptions and actual prepayment experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower or
faster than the rates assumed in the attached Computational Materials.
Furthermore, unless otherwise provided, the Computational Materials assume no
losses on the underlying assets and no interest shortfall. The specific
characteristics of the securities may differ from those shown in the
Computational Materials due to differences between the actual underlying assets
and the hypothetical assets used in preparing the Computational Materials. The
principal amount and designation of any security described in the Computational
Materials are subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in this communication has been filed with the Securities
and Exchange Commission and is effective, the final prospectus supplement
relating to the securities discussed in this communication has not been filed
with the Securities and Exchange Commission. This communication shall not
constitute an offer to sell or the solicitation of any offer to buy nor shall
there be any sale of the securities discussed in this communication in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus and prospectus
supplement relating to the securities discussed in this communication for
definitive information on any matter discussed in this communication. A final
prospectus and prospectus supplement may be obtained by contacting the Merrill
Lynch Trading Desk at (212) 449-3659.
Please be advised that asset-backed securities may not be appropriate for all
investors. Potential investors must be willing to assume, among other things,
market price volatility, prepayments, yield curve and interest rate risk.
Investors should fully consider the risk of an investment in these securities.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
2
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
TERM SHEET DATED October 18, 2000
Conseco Finance Securitizations Corp.
Certificates for Home Equity Loans, Series 2000-F
$882,700,000 (Approximate)
Subject to Revision
SELLER: Conseco Finance Securitizations Corp.
SERVICER: Conseco Finance Corp. ("Conseco")
TRUSTEE: U.S. Bank Trust National Association, St. Paul, Minnesota
LEAD UNDERWRITER: Merrill Lynch & Co.
CO-UNDERWRITERS: Banc of America Securities LLC, Chase Securities Inc.,
Credit Suisse First Boston, Deutsche Banc Alex. Brown,
Lehman Brothers.
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Est. Est. Est. Expected
WAL Est. Prin. Prin. Final Expected Ratings
Approx. Type (yrs) WAL Window Window Distribution ------------------------------
Size Call/(1)/ (yrs) (mos) (mos) Date (to S&P Moody's Fitch
Class Maturity Call/(1)/ Maturity call)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Fixed Rate
----------
AF-1 285,000,000 SEN/SEQ 1.01 1.01 1 - 23 1 - 23 10/02 AAA Aaa AAA
AF-2 25,000,000 SEN/SEQ 2.07 2.07 23 - 26 23 - 26 01/03 AAA Aaa AAA
AF-3 140,000,000 SEN/SEQ 3.01 3.01 26 - 53 26 - 53 04/05 AAA Aaa AAA
AF-4 40,000,000 SEN/SEQ 5.04 5.18 53 - 64 53 - 95 03/06 AAA Aaa AAA
AF-5 77,000,000 SEN/SEQ 5.38 6.74 64 - 64 66 - 95 03/06 AAA Aaa AAA
MF-1 49,000,000 MEZ 4.57 5.88 39 - 64 39 - 118 03/06 AA Aa2 AA
MF-2 35,000,000 MEZ 4.55 5.85 38 - 64 38 - 118 03/06 A A2 A
BF-1 28,000,000 SUB 3.60 3.60 37 - 55 37 - 55 06/05 BBB Baa2 BBB
Adjustable Rate
---------------
AV-1 168,000,000 SEN 1.73 1.83 1 - 64 1 - 91 03/06 AAA Aaa AAA
MV-1 15,750,000 MEZ 4.58 5.28 45 - 64 45 - 110 03/06 AA Aa2 AA
MV-2 10,500,000 MEZ 4.29 4.98 41 - 64 41 - 110 03/06 A A2 A
BV-1 9,450,000 SUB 3.30 3.30 37 - 45 37 - 45 08/04 BBB Baa2 BBB
Non-Offered Certificates
------------------------
BF-2 21,000,000 SUB
BV-2 6,300,000 SUB
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) All Offered Certificates are priced to 20% call. If the Purchase Option,
Auction Sale is not exercised, the Class AF-5 pass-through rate increases
by 0.50%.
Pricing Speed: Fixed-Rate Mortgage Loans - 125% PPC - 100% prepayment
assumption assumes a constant prepayment of 4% in month one
increased by approximately an additional 1.45% each month to
20% CPR in month twelve, and remaining at 20% CPR
thereafter.
Adjustable-Rate Mortgage Loans - 30% CPR
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
3
<PAGE>
[LOGO] Merrill Lynch COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
Seller: Conseco Finance Securitizations Corp.
Servicer: Conseco Finance Corp. ("Conseco")
Trustee: U.S. Bank Trust National Association, St. Paul,
Minnesota
Statistical
Calculation Date: August 31, 2000
Cut-off Date: The trust will be entitled to receive all payments
due after August 31, 2000 for all loans other than
the Subsequent Loans. For each Subsequent Loan, the
trust will be entitled to receive all payments due
after the last day of either the calendar month in
which the subsequent closing occurs or the preceding
month, as specified by the Seller.
Expected Closing Date: October 31, 2000
Expected Pricing Date: On or about October 19, 2000
Registration: The Offered Certificates will be available in
book-entry form through DTC, Euroclear or CEDEL.
Record Date: The business day just before the Payment Date.
Payment Date: The 15/th/ day of each month (or if such 15/th/ day
is not a business day, the next succeeding business
day) commencing on December 15, 2000.
Mortgage Loan
Groups: Fixed Rate Loan Group
Adjustable Rate Loan Group
Day Count: 30/360 for the fixed rate Certificates and
Actual/360 for the adjustable rate Certificates.
Denominations: $50,000 minimum and integral multiples of $1,000 in
excess thereof.
Tax Status: REMIC Election
ERISA: The Class A Certificates are expected to be ERISA
eligible. Prospective investors that are pension
plans should consult their own counsel with respect
to an investment in the Offered Certificates.
SMMEA: The Offered Certificates will not constitute
"mortgage related securities" for purposes of SMMEA.
Initial
Mortgage Loans: The statistical information presented in this Term
Sheet is with respect to the Initial Mortgage Loans
(the "Initial Mortgage Loans") only and is based on
balances as of the close of business on August 31,
2000. The Initial Mortgage Loans consist primarily of
conventional, fully amortizing and balloon, first,
second, and third lien, fixed and adjustable rate
closed end, one- to four-family residential mortgage
loans. The total Initial Mortgage Loans will consist
of 9,255 loans, with a principal balance of
approximately $679,403,205.08. The Initial Mortgage
Loans
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
4
<PAGE>
[LOGO] Merrill Lynch COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
have been divided into two separate Mortgage Loan
Groups. The Initial Fixed Rate Loan Group will
consist of 7,748 fixed rate mortgage loans with a
principal balance of approximately $492,509,784.93.
The Initial Adjustable Rate Loan Group will consist
of 1,507 adjustable rate mortgage loans with a
principal balance of approximately $186,893,420.15
Additional Collateral: Between the Statistical Calculation Date and the
Expected Closing Date, the Seller expects to deposit
Additional Mortgage Loans ("Additional Mortgage
Loans") for each of the Mortgage Loan Groups. It is
expected that the Additional Mortgage Loans will have
characteristics which are substantially similar to
the Initial Mortgage Loans of each Group.
Pre-Funding Feature
And Subsequent
Mortgage Loans: On the Closing Date, a portion of the proceeds from
the sale of the Offered 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 Fixed Rate
and Adjustable Rate Mortgage Loans during the Pre-
Funding Period (the "Subsequent Loans"). The Pre-
Funding Account is not expected to exceed 25% of the
aggregate initial principal balance of the mortgage
loans as of the Closing Date. 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 (i) paid
sequentially to the Class AF Certificateholders in
the case of amounts which had been allocated to fund
the purchase of additional Fixed Rate Mortgage Loans,
and (ii) paid to the Class AV-1 Certificateholders in
the case of amounts which had been allocated to fund
the purchase of additional Adjustable Rate Mortgage
Loans.
Final Mortgage
Loan Groups: Final Mortgage Loan Groups will be based on balances
as of the related Cut-off Date. The collateral
composition of the pools is expected to be similar to
the Initial Mortgage Loan Groups.
Source for Calculation
of One-Month LIBOR: Telerate page 3750.
Servicing Fee Rate: 50 basis points
Distributions: On each Payment Date distributions on the
certificates will be made to the extent of the Amount
Available. The "Amount Available" will generally
consist of payments made on or in respect of the
Mortgage Loans, and will include amounts otherwise
payable to the Servicer (so long as Conseco is the
Servicer) as the monthly Servicing Fee, and amounts
otherwise payable to the Class C Certificateholder.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
5
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
Interest on the
Class A, M-1, M-2
B-1 Certificates: On each Payment Date the Amount Available will be
distributed to pay interest as follows:
. first to each class of the Class AF Certificates
(AF-1, AF-2, AF-3, AF-4, AF-5), and the Class
AV-1 Certificates concurrently,
. then to the Class MF-1 Certificates and MV-1
Certificates, concurrently,
. then to the Class MF-2 Certificates and MV-2
Certificates, concurrently, and
. then to the Class BF-1 Certificates and BV-1
Certificates concurrently.
Interest will accrue on the outstanding Class AF
principal balance, Class MF-1 adjusted principal
balance, Class MF-2 adjusted principal balance, and
the Class BF-1 adjusted principal balance, at the
related pass-through rate calculated on a 30/360
basis. Interest on the outstanding Class AF principal
balance, Class MF-1 adjusted principal balance, Class
MF-2 adjusted principal balance and Class BF-1
adjusted principal balance, as applicable, will
initially accrue from the Closing Date and thereafter
from the most recent Payment Date on which interest
has been paid, in each case, to but excluding the
following Payment Date.
The adjusted principal balance of any of the Class
M-1, M-2 and B-1 Certificates is the principal
balance less any liquidation loss principal amounts
allocated to that Class.
Interest will accrue on the outstanding Class AV-1
principal balance, Class MV-1 adjusted principal
balance, Class MV-2 adjusted principal balance, and
Class BV-1 adjusted principal balance, at the related
pass-through rate calculated on an Actual/360 basis.
Interest on the outstanding Class AV-1 principal
balance, Class MV-1 adjusted principal balance, Class
MV-2 adjusted principal balance and Class BV-1
adjusted principal balance, as applicable, will
initially accrue from the Closing Date and thereafter
from the most recent Payment Date on which interest
has been paid, in each case, to but excluding the
following Payment Date.
Step-up Coupon: In the event that the Purchase Option, Auction Sale
is not exercised, the Class AF-5 pass-through rate
will increase by 0.50%.
Interest Shortfalls
And Carryovers: If the Amount Available on any Payment Date is
insufficient to make the full distributions of
interest to a class of offered certificates (the
Class A, M-1, M-2 and B-1 Certificates each being
treated as a single class for this purpose), the
Amount Available remaining after payments with a
higher payment priority are made will be distributed
pro rata among such class. Any interest due but
unpaid from a prior Payment Date will also be due on
the next Payment Date, together with accrued interest
thereon at the applicable pass-through rate to the
extent legally permissible.
AV-1, MV-1
MV-2, BV-1 Pass-
Through Rate: The pass-through rate for the Class AV-1, MV-1, MV-2,
and BV-1 Certificates will be floating and for any
monthly period will equal the lesser of one-month
LIBOR plus the pass-through margin or the Available
Funds Pass-Through Rate, but in no case more than
14.0%.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
6
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
Available Funds
Pass-Through Rate: The "Available Funds Pass-Through Rate" for any
Payment Date will be a rate per annum equal to the
weighted average of the Expense Adjusted Mortgage
Rates on the then outstanding Adjustable Rate
Mortgage Loans. The "Expense Adjusted Mortgage Rate"
on any adjustable rate mortgage loan is equal to the
then applicable loan interest rate thereon, minus the
Servicing Fee, which is 0.50% per annum.
Class B-2 Interest: On each Payment Date, after payment of all interest
and principal due 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 in an amount
equal to the product of (a) the Class B-2
pass-through rate and (b) the then outstanding Class
B-2 principal balance. Interest on the Class B-2
Certificates will initially accrue from the Closing
Date and thereafter will accrue from the most recent
Payment Date on which interest has been paid to, in
each case, but excluding the following Payment Date.
Interest will be computed on a 30/360 basis for the
Class BF-2 Certificates and on an Actual/360 basis
for the Class BV-2 Certificates. Interest shortfalls
will be carried forward, and will accrue interest at
the related Class B-2 pass-through rate, to the
extent legally permissable.
Principal
Distributions: On each Payment Date, the Class AF Principal
Distribution Amount will be distributed to the Class
A, Class M-1, Class M-2, and Class B-1
Certificateholders, the remaining Amount Available
will be distributed to make principal distributions
as follows and in the following order of priority:
i) first, concurrently, to the Class AV-1
Certificates, the Class AV-1 Principal
Distribution Amount, and to the Class AF
Certificates then entitled to a principal
distribution, the Class AF Principal
Distribution Amount;
ii) then, concurrently, to the Class MV-1
Certificates, the Class MV-1 Principal
Distribution Amount and to the Class MF-1
Certificates the Class MF-1 Principal
Distribution Amount;
iii) then, concurrently, to the Class MV-2
Certificates, the Class MV-2 Principal
Distribution Amount and to the Class MF-2
Certificates the Class MF-2 Principal
Distribution Amount; and
iv) then, concurrently, to the Class BV-1
Certificates, the Class BV-1 Principal
Distribution Amount and to the Class BF-1
Certificates the Class BF-1 Principal
Distribution Amount.
On each Payment Date, the Class AF Principal
Distribution Amount will be distributed sequentially
to the Class AF Certificates.
If the Amount Available on any Payment Date is
insufficient to make full distributions of principal
to a class of certificates (the Class A, M-1, M-2 and
B-1 Certificates each being treated as a single Class
for this purpose), the Amount Available remaining
after payments with a higher payment priority are
made will be distributed pro-rata among such class.
Fixed Rate Formula Principal
Distribution Amount: On each Payment Date will be equal to the sum of (i)
all scheduled payments of principal due on each
outstanding fixed rate loan during the related Due
Period, (ii) the scheduled principal balance of each
fixed rate loan which, during the related Due Period,
was repurchased by the Seller, (iii) all partial
principal prepayments applied and all principal
prepayments in full received during such Due Period
in respect of each fixed rate loan, (iv) the
scheduled principal balance of each fixed rate loan
that became a liquidated loan during the related Due
Period, (v) any amount described in clauses (i)
through (iv) above that was not previously
distributed
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
7
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
because of an insufficient amount of funds available
if the Payment Date occurs on or after the Payment
Date on which the Class BF-2 Principal Balance has
been reduced to zero, and (vi) the amount, if any, by
which the amounts described in clauses (i) through
(v) of the definition of Adjustable Rate Formula
Principal Distribution Amount exceed the certificate
principal balance of the adjustable rate certificates
then entitled to distributions of principal on such
Payment Date.
Adjustable Rate Formula Principal
Distribution Amount: On each Payment Date will be equal to the sum of (i)
all scheduled payments of principal due on each
outstanding adjustable rate loan during the related
Due Period, (ii) the scheduled principal balance of
each adjustable rate loan which, during the related
Due Period, was repurchased by the Seller, (iii) all
partial principal prepayments applied and all
principal prepayments in full received during such
Due Period in respect of each adjustable rate loan,
(iv) the scheduled principal balance of each
adjustable rate loan that became a liquidated loan
during the related Due Period, (v) any amount
described in clauses (i) through (iv) above that was
not previously distributed because of an insufficient
amount of funds available if the Payment Date occurs
on or after the Payment Date on which the Class BV-2
Principal Balance has been reduced to zero, and (vi)
the amount, if any, by which the amounts described in
clauses (i) through (v) of the definition of Fixed
Rate Formula Principal Distribution Amount exceed the
certificate principal balance of the fixed rate
certificates then entitled to distributions of
principal on such Payment Date.
Class A Principal
Distribution Amount: With respect to any Payment Date prior to the related
Stepdown Date or as to which a Trigger Event exists,
100% of the Fixed Rate Formula Principal Distribution
Amount or Adjustable Rate Formula Principal
Distribution Amount, as applicable, for such Payment
Date, and, with respect to any Payment Date on or
after the Stepdown Date and as to which a Trigger
Event is not in effect for the related Mortgage Loan
Group, the excess of (A) the related Class A
Certificate Principal Balance immediately prior to
such Payment Date over (B) the lesser of (a) 58.00%
for the Fixed Rate Mortgage Loan Group or 57.00% for
the Adjustable Rate Mortgage Loan Group of the
Scheduled Principal Balance of such Mortgage Loan
Group on the preceding Due Date and (b) the Scheduled
Principal Balance of the Mortgage Loans in such
Mortgage Loan Group on the preceding Payment Date
less 2.0% for the Fixed Rate Mortgage Loan Group
(1.5% for the Adjustable Rate Mortgage Loan Group) of
the Scheduled Principal Balance of the Mortgage Loans
in such Mortgage Loan Group as of the Cut-off Date.
Class M-1 Principal
Distribution Amount: With respect to any Payment Date on or after the
related Stepdown Date and as long as a Trigger Event
is not in effect for the related Mortgage Loan Group,
the excess of (i) the sum for such Mortgage Loan
Group of (A) the related Class A Certificate
Principal Balance and (B) the related Class M-1
Certificate Principal Balance immediately prior to
such Payment Date over (ii) the lesser of (a) 72.00%
for the Fixed Rate Mortgage Loan Group or 72.00% for
the Adjustable Rate Mortgage Loan Group of the
Scheduled Principal Balance of such Mortgage Loans in
the related Mortgage Loan Group on the preceding Due
Date and (b) the Scheduled Principal Balance of the
Mortgage Loans in such Mortgage Loan Group on the
preceding Payment Date less 2.0% for the Fixed Rate
Mortgage Loan Group (1.5% for the Adjustable Rate
Mortgage Loan Group) of the Scheduled Principal
Balance of the Mortgage Loans in such Mortgage Loan
Group as of the Cut-off Date.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
8
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
Class M-2 Principal
Distribution Amount: With respect to any Payment Date on or after the
related Stepdown Date and as long as a Trigger Event
is not in effect for the related Mortgage Loan Group,
the excess of (i) the sum for such Mortgage Loan
Group of (A) the related Class A Certificate
Principal Balance and (B) the related Class M-1
Certificate Principal Balance and (C) the related
Class M-2 Certificate Principal Balance immediately
prior to such Payment Date over (ii) the lesser of
(a) 82.00% for the Fixed Rate Mortgage Loan Group or
82.00% for the Adjustable Rate Mortgage Loan Group of
the Scheduled Principal Balance of such Mortgage
Loans in the related Mortgage Loan Group on the
preceding Due Date and (b) the Scheduled Principal
Balance of the Mortgage Loans in such Mortgage Loan
Group on the preceding Payment Date less 2.0% for the
Fixed Rate Mortgage Loan Group (1.5% for the
Adjustable Rate Mortgage Loan Group) of the Scheduled
Principal Balance of the Mortgage Loans in such
Mortgage Loan Group as of the Cut-off Date.
Class B-1 Principal
Distribution Amount: With respect to any Payment Date on or after the
related Stepdown Date and as long as a Trigger Event
is not in effect for the related Mortgage Loan Group,
the excess of (i) the sum for such Mortgage Loan
Group of (A) the related Class A Certificate
Principal Balance and (B) the related Class M-1
Certificate Principal Balance and (C) the related
Class M-2 Certificate Principal Balance and (D) the
related Class B-1 Certificate Principal Balance
immediately prior to such Payment Date over (ii) the
lesser of (a) 90.00% for the Fixed Rate Mortgage Loan
Group or 91.00% for the Adjustable Rate Mortgage Loan
Group of the Scheduled Principal Balance of such
Mortgage Loans in the related Mortgage Loan Group on
the preceding Due Date and (b) the Scheduled
Principal Balance of the Mortgage Loans in such
Mortgage Loan Group on the preceding Payment date
less 2.0% for the Fixed Rate Mortgage Loan Group
(1.5% for the Adjustable Rate Mortgage Loan Group) of
the Scheduled Principal Balance of the Mortgage Loans
in such Mortgage Loan Group as of the Cut-off Date.
Class B-2
Principal: After payments of interest and principal on Classes
A, M-1, M-2 and B-1, and interest payments on Class
B-2, the Class B-2 Certificateholders will receive
the remaining portion of the Fixed Rate Formula
Principal Distribution Amount or the Adjustable Rate
Formula Principal Distribution Amount, as applicable,
until the related Class B-2 principal balance is
equal to zero. On any Payment Date on and after which
the Purchase Option becomes exercisable, the amount
distributable to the related Class B-2
Certificateholders in respect of principal will be
the excess of (i) the sum of (A) the related Class A
Certificate Principal Balance, (B) the related Class
M-1 Certificate Principal Balance, (C) the related
Class M-2 Certificate Principal Balance, (D) the
related Class B-1 Certificate Principal Balance and
(E) the related Class B-2 Certificate Principal
Balance over (ii) (a) 96.00% for the Fixed Rate
Mortgage Loan Group or (b) 97.00% for the Adjustable
Rate Mortgage Loan Group of the Scheduled Principal
Balance of all the outstanding Mortgage Loans on the
preceding Due Date.
Stepdown Date: With respect to each Mortgage Loan Group, is the
earlier to occur of (i) the later to occur of (A) the
Payment Date in January 2004 and (B) the first
Payment Date on which (I) the Class A Certificate
Principal balance of such Mortgage Loan Group is less
than or equal to (II) 58% for the Fixed Rate Mortgage
Loan Group or 57% for the Adjustable Rate Mortgage
Loan Group of the Scheduled Principal Balances of the
Mortgage Loans in such Mortgage Loan Group and (ii)
the Payment Date on which the Certificate Principal
Balance of the related Class A Certificates has been
reduced to zero.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
9
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
Trigger Event: A Trigger Event is in effect for the certificates if
on that payment date:
(1) The three-month rolling average percentage of
the loans that are 60 days or more delinquent in
payment of principal and interest exceeds the
product of (a) the Senior Enhancement Percentage
for the certificates and (b) 42.5%; or
(2) The cumulative loss test is not satisfied:
Cumulative Realized
Losses Test: The Cumulative Realized Losses Test is satisfied for
any payment date if the cumulative realized loss
ratio for the loans for such payment date is less
than or equal to the percentage set forth below for
the specified period:
<TABLE>
<CAPTION>
Fixed Rate Adjustable Rate
---------- ---------------
Month Percentage Month Percentage
----- ---------- ----- ----------
<S> <C> <C> <C>
37-48 [4.40%] 37-48 [4.20%]
49-60 [5.23%] 49-60 [4.99%]
61-84 [5.50%] 61-84 [5.25%]
85 and thereafter [6.00%] 85 and thereafter [5.75%]
</TABLE>
Senior Enhancement
Percentage: The Senior Enhancement Percentage for any Payment
Date will equal the percentage obtained by dividing
(I) the excess of (A) the Pool Scheduled Principal
Balance over (B) the Class A Principal Balance, by
(ii) the Pool Scheduled Principal Balance.
Credit Support Percentage:
<TABLE>
<CAPTION>
Fixed Rate
Initial Credit Support After Stepdown Date
---------------------- -------------------
Rating Percent Rating Percent
------ ------- ------ -------
<S> <C> <C> <C>
AAA/Aaa 21.00% AAA/Aaa 42.00%
AA/Aa2 14.00% AA/Aa2 28.00%
A/A2 9.00% A/A2 18.00%
BBB/Baa2 5.00% BBB/Baa2 10.00%
Adjustable Rate
Initial Credit Support After Stepdown Date
---------------------- -------------------
Rating Percent Rating Percent
------ ------- ------ -------
AAA/Aaa 21.50% AAA/Aaa 43.00%
AA/Aa2 14.00% AA/Aa2 28.00%
A/A2 9.00% A/A2 18.00%
BBB/Baa2 4.50% BBB/Baa2 9.00%
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
10
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
Losses on Liquidated
Home Equity Loans: If net liquidation proceeds from liquidated loans in
the respective collection period are less than the
scheduled principal balance of such liquidated loans
plus accrued and unpaid interest thereon, the
deficiency (a "Liquidation Loss Amount") will be
absorbed by the Class C Certificateholder, then the
Servicing Fee otherwise payable to the Servicer (as
long as Conseco is the Servicer), 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.
Overcollateralization: There will be overcollateralization of approximately
0% building to the Target Overcollateralization
Amount.
The certificateholders will be entitled to receive
additional distributions in respect of principal on
each Payment 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 for such Payment Date, until the
overcollateralization amount equals the Target
Overcollateralization Amount. Such additional
distributions in respect of principal will be paid in
accordance with the distribution priorities described
in the prospectus supplement.
Target Overcollateralization
Amount: The Target Overcollateralization Amount will equal
2.00% for the Fixed Rate Mortgage Loan Group and
1.50% for the Adjustable Rate Mortgage Loan Group of
the sum of (A) the aggregate Cut-off Date principal
balance of related Loans included in the Trust as of
the Closing Date and (B) the amount on deposit in the
related Pre-Funding Account on the Closing Date.
Purchase Option;
Auction Sale: Beginning on the Payment Date when the scheduled
principal balance of the loans is less than 20% of
the Cut-off Date principal balance of the loans the
holder of the Class C Certificates will have the
right to repurchase all of the outstanding loans, 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 Certificates does not
exercise this Purchase Option, then on the next
Payment Date the Trustee will begin an auction
process to sell the loans and the other trust assets,
but the Trustee cannot sell the trust assets and
liquidate the trust unless the proceeds of that 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 is too low, then the Trustee will
conduct an auction of the loans every third month
thereafter, unless and until an acceptable bid is
received for the trust property.
If the Purchase Option is not exercised by the holder
of the Class C Certificates, excess cashflow after
all payments of interest and principal due on
(excluding Class C) are made will be used to paydown
principal as follows:
(i.) first, to the remaining Class AF Certificates
and Class AV Certificates, pro-rata until the
related Certificate Principal Balances are
reduced to zero,
(ii.) next, to the remaining Class M-1 Certificates,
Class M-2 Certificates, Class B-1 Certificates,
and the Class B-2 Certificates, pro-rata based
on the outstanding principal balance, until the
related certificate principal balances are
reduced to zero.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
11
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
FIXED RATE LOAN GROUP
Summary
<TABLE>
<CAPTION>
Total Minimum Maximum
----- ------- -------
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Calculation Date Aggregate Principal Balance $492,509,784.93
Number of Loans 7,748
Average Original Loan Balance $63,654.40 $8,216.98 $403,000.00
Average Current Loan Balance $63,566.05 $8,121.91 $403,000.00
Weighted Average Combined LTV 88.549% 12.669% 100.000%
Weighted Average Gross Coupon 12.885% 7.50% 21.750%
Weighted Average Remaining Term to Maturity (months) 242 32 360
Weighted Average Original Term (months) 243 36 360
Weighted Average FICO Credit Score 619 300 824
Weighted Average Debt to Income Ratio 43.59% 3.00% 100.00%
-----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Percent of Statistical Calculation
------------------------------------
Range Date Principal Balance
----- ----------------------
<S> <C> <C>
Fully Amortizing Mortgage Loans 67.06%
Balloon Mortgage Loans 32.94%
Lien Position First 80.80%
Second 18.78%
Third 0.42%
Property Type One to Two Family 87.78%
Manufactured Homes 7.29%
Single Family 2.41%
Farmland 1.43%
Condominium 0.91%
Three to Four Family 0.19%
Occupancy Status Primary 97.28%
Rental 2.72%
Geographic Distribution California 8.63%
Texas 20.92%
Largest Zip Code Concentration 76009 0.26%
Credit Grade A-1 51.93%
A-2 21.16%
B 19.40%
C 5.96%
D 1.42%
NA 0.12%
Delinquency 0 - 29 Days 100.00%
30 - 59 Days 0.00%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
---------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
12
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
GEOGRAPHIC DISTRIBUTION - FIXED RATE LOAN GROUP
<TABLE>
<CAPTION>
Aggregate Principal % of Fixed Rate Loan Group by
State or Territory Number of Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alabama 163 $10,356,923.94 2.10%
Arizona 201 13,351,523.38 2.71
Arkansas 97 6,723,566.46 1.37
California 525 42,517,919.42 8.63
Colorado 165 14,513,438.12 2.95
Connecticut 140 10,594,187.19 2.15
Delaware 13 1,071,182.94 0.22
District Of Columbia 14 715,630.63 0.15
Florida 318 22,886,216.50 4.65
Georgia 209 15,692,286.61 3.19
Idaho 26 1,627,055.53 0.33
Illinois 285 16,779,179.09 3.41
Indiana 95 4,744,717.39 0.96
Iowa 89 5,878,583.36 1.19
Kansas 94 5,292,133.52 1.07
Kentucky 70 3,711,084.30 0.75
Louisiana 124 8,129,870.89 1.65
Maine 29 1,510,663.53 0.31
Maryland 71 4,164,263.72 0.85
Massachusetts 97 6,693,908.49 1.36
Michigan 295 21,068,014.35 4.28
Minnesota 131 8,096,766.63 1.64
Mississippi 54 3,888,210.72 0.79
Missouri 174 10,148,142.98 2.06
Montana 7 210,005.17 0.04
Nebraska 76 4,663,581.92 0.95
Nevada 52 3,020,482.73 0.61
New Hampshire 16 1,303,413.16 0.26
New Jersey 88 5,479,186.55 1.11
New Mexico 37 2,549,421.95 0.52
New York 222 14,424,944.07 2.93
North Carolina 217 17,006,041.01 3.45
North Dakota 11 374,579.15 0.08
Ohio 220 13,713,553.19 2.78
Oklahoma 132 8,082,455.00 1.64
Oregon 24 1,818,542.99 0.37
Pennsylvania 286 16,026,174.52 3.25
Rhode Island 38 1,895,543.90 0.38
South Carolina 181 13,453,305.47 2.73
South Dakota 18 1,265,030.99 0.26
Tennessee 137 10,048,914.43 2.04
Texas 2,031 103,021,835.73 20.92
Utah 35 2,109,009.78 0.43
Vermont 11 582,405.55 0.12
Virginia 174 11,440,233.24 2.32
Washington 118 10,708,307.25 2.17
West Virginia 31 1,972,776.09 0.40
Wisconsin 75 4,760,925.02 0.97
Wyoming 32 2,423,646.38 0.49
-- ------------ ----
Total 7,748 $492,509,784.93 100.00%
----- ===== =============== =======
</TABLE>
---------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
13
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
YEAR OF ORIGINATION - FIXED RATE LOAN GROUP
<TABLE>
<CAPTION>
Aggregate Principal % of Fixed Rate Loan Group by
Year of Origination Number of Loans Balance Outstanding Outstanding Principal Balance
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1988 1 $ 104,775.26 0.02%
1989 1 131,437.86 0.03
1995 1 25,633.49 0.01
1996 1 41,038.12 0.01
1997 7 310,427.70 0.06
1998 24 1,298,840.36 0.26
1999 78 4,129,152.32 0.84
2000 7,635 486,468,479.82 98.77
----- -------------- -----
Total 7,748 492,509,784.93 100.00%
===== ============== =======
</TABLE>
---------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
14
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
ORIGINAL LOAN AMOUNT DISTRIBUTION - FIXED RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Number of Aggregate Principal % of Fixed Rate Loan Group by
Original Loan Amount Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Less than $10,000 3 $26,771.33 0.01%
10,000 - 19,999.99 976 14,252,008.66 2.89
20,000 - 29,999.99 1,181 28,776,456.07 5.84
30,000 - 39,999.99 923 31,754,108.51 6.45
40,000 - 49,999.99 793 35,354,220.99 7.18
50,000 - 59,999.99 671 36,444,221.29 7.40
60,000 - 69,999.99 605 38,856,744.68 7.89
70,000 - 79,999.99 523 38,875,651.26 7.89
80,000 - 89,999.99 387 32,544,100.41 6.61
90,000 - 99,999.99 331 31,192,101.01 6.33
100,000 - 109,999.99 237 24,654,316.91 5.01
110,000 - 119,999.99 204 23,478,057.60 4.77
120,000 - 129,999.99 158 19,613,470.14 3.98
130,000 - 139,999.99 141 18,948,188.16 3.85
140,000 - 149,999.99 119 17,190,400.05 3.49
150,000 - 159,999.99 82 12,543,717.72 2.55
160,000 - 169,999.99 74 12,216,889.11 2.48
170,000 - 179,999.99 69 12,037,424.60 2.44
180,000 - 189,999.99 34 6,251,681.60 1.27
190,000 - 199,999.99 37 7,220,239.99 1.47
200,000 - 209,999.99 35 7,126,356.84 1.45
210,000 - 219,999.99 20 4,277,256.15 0.87
220,000 - 229,999.99 26 5,820,075.88 1.18
230,000 - 239,999.99 12 2,803,281.84 0.57
240,000 - 249,999.99 17 4,144,471.39 0.84
250,000 - 259,999.99 16 4,048,303.09 0.82
260,000 - 269,999.99 19 5,013,773.94 1.02
270,000 - 279,999.99 9 2,448,528.87 0.50
280,000 - 289,999.99 4 1,131,474.54 0.23
290,000 - 299,999.99 11 3,242,747.62 0.66
300,000 - 309,999.99 5 1,525,808.84 0.31
310,000 - 319,999.99 8 2,511,962.71 0.51
320,000 - 329,999.99 5 1,616,000.00 0.33
330,000 - 339,999.99 1 330,876.46 0.07
340,000 - 349,999.99 4 1,375,273.10 0.28
Greater than or equal to $350,000 8 2,862,823.57 0.58
- ------------ ----
Total 7,748 $492,509,784.93 100.00%
----- ===== =============== ======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
15
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
INTEREST RATE DISTRIBUTION - FIXED RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Mortgage Aggregate Principal % of Fixed Rate Loan Group by
Loan Interest Rates (%) Number of Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
7 - 7.999 4 $343,215.43 0.07%
8 - 8.999 26 2,594,245.50 0.53
9 - 9.999 146 17,219,379.01 3.50
10 - 10.999 443 45,897,579.35 9.32
11 - 11.999 981 94,223,751.99 19.13
12 - 12.999 1,739 135,228,222.29 27.46
13 - 13.999 1,364 83,960,438.34 17.05
14 - 14.999 1,403 55,654,746.71 11.30
15 - 15.999 973 36,646,893.36 7.44
16 - 16.999 370 12,481,722.54 2.53
17 - 17.999 185 5,215,966.26 1.06
18 - 18.999 67 1,803,101.02 0.37
19 - 19.999 30 838,334.55 0.17
20 - 20.999 14 326,404.39 0.07
21 - 21.999 3 75,784.19 0.02
- --------- ----
Total 7,748 $492,509,784.93 100.00%
----- ===== =============== =======
</TABLE>
================================================================================
REMAINING MONTHS TO MATURITY - FIXED RATE LOAN GROUP
<TABLE>
<CAPTION>
Number of Loans
Range of Remaining as of the Statistical Aggregate Principal % of Fixed Rate Loan Group by
Months to Maturity Calculation Date Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
31 - 60 77 $1,685,402.44 0.34%
61 - 90 51 1,235,954.98 0.25
91 - 120 589 18,119,983.81 3.68
121 - 150 42 2,170,436.40 0.44
151 - 180 1,754 103,396,302.17 20.99
181 - 210 15 722,882.14 0.15
211 - 240 3,671 249,787,907.30 50.72
241 - 270 6 349,536.72 0.07
271 - 300 849 52,003,862.03 10.56
301 - 330 3 133,596.74 0.03
331 - 360 691 62,903,920.20 12.77
--- ------------- -----
Total 7,748 $492,509,784.93 100.00%
----- ===== =============== =======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
16
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
LIEN POSITION - FIXED RATE LOAN GROUP
<TABLE>
<CAPTION>
Aggregate Principal % of Fixed Rate Loan Group by
Lien Number of Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
First 4,891 $397,954,591.70 80.80%
Second 2,810 92,504,165.35 18.78
Third 47 2,051,027.88 0.42
-- ------------ ----
Total 7,748 $492,509,784.93 100.00%
----- ===== =============== =======
</TABLE>
================================================================================
COMBINED LOAN-TO-VALUE RATIO - FIXED RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Combined Aggregate Principal % of Fixed Rate Loan Group by
Loan-to-Value Ratios Number of Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
10.001 - 15.000 4 $ 91,776.91 0.02%
15.001 - 20.000 12 274,187.11 0.06
20.001 - 25.000 11 253,819.74 0.05
25.001 - 30.000 15 323,174.62 0.07
30.001 - 35.000 35 1,241,732.41 0.25
35.001 - 40.000 33 1,309,581.03 0.27
40.001 - 45.000 37 1,417,712.74 0.29
45.001 - 50.000 62 2,389,453.59 0.49
50.001 - 55.000 86 3,613,051.37 0.73
55.001 - 60.000 111 4,446,325.94 0.90
60.001 - 65.000 173 7,964,684.30 1.62
65.001 - 70.000 207 10,142,510.35 2.06
70.001 - 75.000 348 17,528,446.60 3.56
75.001 - 80.000 1,323 72,799,337.43 14.78
80.001 - 85.000 536 34,107,781.49 6.93
85.001 - 90.000 1,081 72,396,985.69 14.70
90.001 - 95.000 1,579 116,825,709.87 23.72
95.001 - 100.000 2,095 145,383,513.74 29.52
----- -------------- -----
Total 7,748 $492,509,784.93 100.00%
----- ===== =============== =======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
17
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE LOAN GROUP
Summary
<TABLE>
<CAPTION>
Total Minimum Maximum
----- ------- -------
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Calculation Date Aggregate Principal Balance $186,893,420.15
Number of Loans 1,507
Average Original Loan Balance $ 124,176.47 $26,100.00 $350,000.00
Average Current Loan Balance $ 124,016.87 $26,081.26 $349,844.84
Weighted Average Combined LTV 89.823% 33.668% 100.000%
Weighted Average Gross Coupon 10.122% 8.250% 13.990%
Weighted Average Remaining Term to Maturity (months) 357 178 360
Weighted Average Original Term (months) 360 180 360
Weighted Average Gross Margin 5.843% 3.000% 9.150%
Weighted Average Maximum Rate 16.394% 12.500% 24.000%
Weighted Average Periodic Cap 1.330% 1.000% 3.000%
Weighted Average FICO Credit Score 617 469 811
Weighted Average Debt to Income Ratio 42.53% 1.00% 62.00%
</TABLE>
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Percent of Statistical
----------------------
Calculation
-----------
Range Date Principal Balance
----- ----------------------
<S> <C> <C>
Fully Amortizing Loans 100.00%
Product Type 2/28 LIBOR 95.01%
3/27 LIBOR 4.99%
Lien Position First 100.00%
Property Type Single Family 97.70%
Manufactured Homes 1.07%
Condominium 0.57%
Townhouse 0.49%
Two Family 0.11%
One to Two Family 0.05%
Occupancy Status Primary 100.00%
Geographic Distribution California 14.38%
Ohio 7.14%
Maryland 6.75%
Illinois 6.02%
North Carolina 5.51%
Virginia 5.37%
Largest Zip Code Concentration 20772 0.42%
Credit Grade A-1 61.96%
A-2 16.20%
B 18.88%
C 2.84%
D 0.11%
Delinquency 0 - 29 Days 98.61%
30 - 59 Days 1.39%
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
18
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
GEOGRAPHIC DISTRIBUTION - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Aggregate Principal % of Adjustable Rate Loan Group
State or Territory Number of Loans Balance Outstanding by Outstanding Principal Balance
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alabama 46 $4,246,024.24 2.27%
Arizona 37 4,849,821.64 2.59
Arkansas 1 254,792.02 0.14
California 150 26,877,224.99 14.38
Colorado 51 8,815,338.65 4.72
Connecticut 4 459,233.31 0.25
Delaware 2 148,571.01 0.08
District Of Columbia 10 1,749,864.99 0.94
Florida 64 6,927,589.79 3.71
Georgia 72 8,192,745.18 4.38
Idaho 3 271,379.57 0.15
Illinois 91 11,258,961.56 6.02
Indiana 54 5,308,661.03 2.84
Iowa 35 2,988,367.03 1.60
Kansas 37 4,174,859.19 2.23
Kentucky 25 2,697,669.29 1.44
Louisiana 8 812,899.55 0.43
Maryland 74 12,620,637.25 6.75
Massachusetts 10 1,342,691.81 0.72
Michigan 47 4,835,309.30 2.59
Minnesota 19 2,720,352.62 1.46
Mississippi 15 1,212,794.96 0.65
Missouri 43 4,266,635.13 2.28
Montana 1 71,940.97 0.04
Nebraska 16 1,395,074.45 0.75
Nevada 22 3,195,289.36 1.71
New Jersey 12 1,889,310.04 1.01
New Mexico 2 167,786.47 0.09
New York 6 847,936.36 0.45
North Carolina 103 10,294,924.26 5.51
North Dakota 1 110,037.17 0.06
Ohio 128 13,342,738.25 7.14
Oklahoma 3 434,128.16 0.23
Oregon 12 1,878,151.87 1.00
Pennsylvania 33 2,762,630.13 1.48
Rhode Island 8 947,002.57 0.51
South Carolina 61 5,297,988.03 2.83
South Dakota 1 62,937.51 0.03
Tennessee 33 3,592,692.69 1.92
Texas 38 4,869,381.42 2.61
Utah 26 3,369,510.45 1.80
Virginia 60 10,027,914.17 5.37
Washington 15 2,710,782.28 1.45
West Virginia 11 934,182.43 0.50
Wisconsin 16 1,542,877.63 0.83
Wyoming 1 115,779.37 0.06
- ---------- ----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== ========
</TABLE>
---------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
19
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
YEAR OF ORIGINATION - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Aggregate Principal % of Adjustable Rate Loan Group
Year of Origination Number of Loans Balance Outstanding by Outstanding Principal Balance
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1998 2 $ 221,390.00 0.12%
1999 51 5,876,981.78 3.14
2000 1,454 180,795,048.37 96.74
----- -------------- -----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
================================================================================
ORIGINAL LOAN AMOUNT DISTRIBUTION - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Aggregate Principal % of Adjustable Rate Loan Group
Original Loan Amount Number of Loans Balance Outstanding by Outstanding Principal Balance
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
20,000 - 29,999.99 10 $ 278,689.13 0.15%
30,000 - 39,999.99 27 952,743.11 0.51
40,000 - 49,999.99 57 2,576,250.87 1.38
50,000 - 59,999.99 83 4,631,428.67 2.48
60,000 - 69,999.99 121 7,848,567.14 4.20
70,000 - 79,999.99 141 10,498,813.75 5.62
80,000 - 89,999.99 101 8,509,411.12 4.55
90,000 - 99,999.99 112 10,588,033.01 5.67
100,000 - 109,999.99 110 11,539,250.71 6.17
110,000 - 119,999.99 115 13,177,422.52 7.05
120,000 - 129,999.99 79 9,869,858.01 5.28
130,000 - 139,999.99 76 10,188,729.60 5.45
140,000 - 149,999.99 67 9,706,103.91 5.19
150,000 - 159,999.99 48 7,414,616.99 3.97
160,000 - 169,999.99 48 7,865,167.07 4.21
170,000 - 179,999.99 51 8,841,705.31 4.73
180,000 - 189,999.99 25 4,632,003.96 2.48
190,000 - 199,999.99 33 6,428,437.24 3.44
200,000 - 209,999.99 24 4,910,231.15 2.63
210,000 - 219,999.99 28 6,012,124.04 3.22
220,000 - 229,999.99 23 5,165,105.18 2.76
230,000 - 239,999.99 20 4,690,037.28 2.51
240,000 - 249,999.99 18 4,410,951.75 2.36
250,000 - 259,999.99 16 4,047,351.07 2.17
260,000 - 269,999.99 12 3,176,365.19 1.70
270,000 - 279,999.99 14 3,845,990.59 2.06
280,000 - 289,999.99 8 2,295,733.91 1.23
290,000 - 299,999.99 8 2,365,220.24 1.27
300,000 - 309,999.99 10 3,042,435.06 1.63
310,000 - 319,999.99 4 1,258,069.24 0.67
320,000 - 329,999.99 5 1,625,951.88 0.87
330,000 - 339,999.99 2 672,223.71 0.36
340,000 - 349,999.99 4 1,380,705.20 0.74
350,000 - 359,999.99 7 2,447,692.54 1.31
- ------------ ----
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
20
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
21
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
INTEREST RATE DISTRIBUTION - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Mortgage Aggregate Principal % of Adjustable Rate Loan Group by
Loan Interest Rates (%) Number of Loans Balance Outstanding Outstanding Principal Balance
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
8 - 8.999 126 $17,829,120.28 9.54%
9 - 9.999 669 91,701,648.46 49.07
10 - 10.999 448 52,132,212.25 27.89
11 - 11.999 183 18,916,894.53 10.12
12 - 12.999 64 4,987,632.99 2.67
13 - 13.999 17 1,325,911.64 0.71
-- ------------ ----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
================================================================================
REMAINING MONTHS TO MATURITY - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Remaining Aggregate Principal % of Adjustable Rate Loan Group by
Months to Maturity Number of Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
151 - 180 1 $45,291.36 0.02%
331 - 360 1,506 186,848,128.79 99.98
----- -------------- -----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
================================================================================
COMBINED LOAN-TO-VALUE RATIO - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Combined Aggregate Principal % of Adjustable Rate Loan Group by
Loan-to-Value Ratios Number of Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
30.001 - 35.000 1 $42,071.70 0.02%
35.001 - 40.000 1 29,461.19 0.02
40.001 - 45.000 1 78,467.01 0.04
45.001 - 50.000 3 419,379.87 0.22
55.001 - 60.000 1 96,282.47 0.05
60.001 - 65.000 9 729,419.65 0.39
65.001 - 70.000 24 1,853,930.05 0.99
70.001 - 75.000 38 4,503,676.52 2.41
75.001 - 80.000 121 11,623,657.34 6.22
80.001 - 85.000 128 13,475,416.10 7.21
85.001 - 90.000 622 78,053,981.75 41.76
90.001 - 95.000 497 69,161,504.98 37.01
95.001 - 100.000 61 6,826,171.52 3.65
-- ------------ ----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
22
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
GROSS MARGIN - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Aggregate Principal % of Adjustable Rate Loan Group by
Gross Margin Number of Loans Balance Outstanding Outstanding Principal Balance
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
3.000 - 3.249 1 $151,029.26 0.08%
3.750 - 3.999 2 283,888.76 0.15
4.000 - 4.249 10 1,581,230.38 0.85
4.250 - 4.499 19 3,051,009.37 1.63
4.500 - 4.749 47 6,757,056.65 3.62
4.750 - 4.999 89 13,102,584.76 7.01
5.000 - 5.249 113 15,151,069.20 8.11
5.250 - 5.499 162 20,970,106.79 11.22
5.500 - 5.749 198 28,250,083.82 15.12
5.750 - 5.999 186 24,684,613.14 13.21
6.000 - 6.249 140 15,967,660.67 8.54
6.250 - 6.499 123 13,425,184.36 7.18
6.500 - 6.749 110 12,463,602.41 6.67
6.750 - 6.999 105 12,014,298.69 6.43
7.000 - 7.249 56 5,348,082.02 2.86
7.250 - 7.499 47 4,727,728.85 2.53
7.500 - 7.749 29 3,193,594.65 1.71
7.750 - 7.999 30 2,697,021.62 1.44
8.000 - 8.249 15 1,156,300.19 0.62
8.250 - 8.499 9 772,126.14 0.41
8.500 - 8.749 10 672,172.83 0.36
8.750 - 8.999 4 312,613.59 0.17
9.000 - 9.249 2 160,362.00 0.09
- ---------- ----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
23
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
MONTH OF NEXT RATE ADJUSTMENT - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Month of Next Aggregate Principal % of Adjustable Rate Loan Group by
Rate Adjustment Number of Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
November, 2000 1 $93,151.67 0.05%
December, 2000 1 128,238.33 0.07
January, 2001 0 0.00 0.00
February, 2001 0 0.00 0.00
March, 2001 3 153,671.64 0.08
April, 2001 0 0.00 0.00
May, 2001 0 0.00 0.00
June, 2001 2 192,559.41 0.10
July, 2001 2 180,057.70 0.10
August, 2001 1 193,187.61 0.10
September, 2001 1 63,620.18 0.03
October, 2001 2 126,231.74 0.07
November, 2001 7 881,495.10 0.47
December, 2001 14 1,482,429.55 0.79
January, 2002 20 2,628,483.68 1.41
February, 2002 17 1,910,384.98 1.02
March, 2002 44 5,212,715.84 2.79
April, 2002 134 16,957,845.92 9.07
May, 2002 343 40,127,739.99 21.47
June, 2002 473 62,147,330.44 33.25
July, 2002 279 35,317,919.55 18.90
August, 2002 67 7,942,093.42 4.25
September, 2002 16 2,235,113.80 1.20
October, 2002 2 150,488.12 0.08
November, 2002 0 0.00 0.00
December, 2002 2 167,160.78 0.09
January, 2003 1 162,803.28 0.09
February, 2003 0 0.00 0.00
March, 2003 1 115,164.82 0.06
April, 2003 8 770,010.42 0.41
May, 2003 30 3,285,794.37 1.76
June, 2003 19 2,080,962.69 1.11
July, 2003 12 1,566,872.38 0.84
August, 2003 5 619,892.74 0.33
- ---------- ----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
24
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
MAXIMUM RATE - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Aggregate Principal % of Adjustable Rate Loan Group by
Maximum Rates Number of Loans Balance Outstanding Outstanding Principal Balance
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
12.500 - 12.749 1 $123,215.40 0.07%
13.250 - 13.499 1 162,787.95 0.09
14.250 - 14.499 3 384,643.56 0.21
14.500 - 14.749 10 1,798,904.90 0.96
14.750 - 14.999 92 12,906,608.29 6.91
15.000 - 15.249 25 2,970,104.24 1.59
15.250 - 15.499 144 19,380,114.31 10.37
15.500 - 15.749 110 14,264,543.04 7.63
15.750 - 15.999 237 30,860,503.44 16.51
16.000 - 16.249 53 5,981,232.83 3.20
16.250 - 16.499 115 14,664,913.67 7.85
16.500 - 16.749 90 11,541,737.75 6.18
16.750 - 16.999 245 31,505,197.14 16.86
17.000 - 17.249 46 4,933,240.32 2.64
17.250 - 17.499 63 7,151,962.36 3.83
17.500 - 17.749 53 6,336,806.38 3.39
17.750 - 17.999 89 10,629,281.50 5.69
18.000 - 18.249 19 1,650,367.83 0.88
18.250 - 18.499 26 2,314,138.65 1.24
18.500 - 18.749 24 2,274,654.06 1.22
18.750 - 18.999 20 1,974,863.08 1.06
19.000 - 19.249 9 721,629.88 0.39
19.250 - 19.499 4 244,001.52 0.13
19.500 - 19.749 9 706,450.35 0.38
19.750 - 19.999 11 775,277.92 0.41
20.000 - 20.249 1 112,875.05 0.06
20.250 - 20.499 1 139,970.43 0.07
20.500 - 20.749 3 107,109.62 0.06
20.750 - 20.999 1 60,000.00 0.03
21.500 - 21.749 1 135,792.52 0.07
24.000 - 24.249 1 80,492.16 0.04
- --------- ----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== =======
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
25
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
================================================================================
MINIMUM RATE - ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
Range of Aggregate Principal % of Adjustable Rate Loan Group
Minimum Rates Number of Loans Balance Outstanding by Outstanding Principal Balance
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
3.750 - 3.999 1 $148,319.06 0.08%
4.000 - 4.249 2 417,237.90 0.22
4.250 - 4.499 14 2,388,616.89 1.28
4.500 - 4.749 35 4,851,747.50 2.60
4.750 - 4.999 40 5,606,565.62 3.00
5.000 - 5.249 59 7,426,839.80 3.97
5.250 - 5.499 65 8,268,867.46 4.42
5.500 - 5.749 98 14,117,102.69 7.55
5.750 - 5.999 89 10,734,912.48 5.74
6.000 - 6.249 65 7,164,767.30 3.83
6.250 - 6.499 49 5,147,257.01 2.75
6.500 - 6.749 59 6,062,520.20 3.24
6.750 - 6.999 50 5,777,135.06 3.09
7.000 - 7.249 26 2,781,461.86 1.49
7.250 - 7.499 30 3,129,706.84 1.67
7.500 - 7.749 17 2,099,632.21 1.12
7.750 - 7.999 13 1,183,655.12 0.63
8.000 - 8.249 14 1,029,098.95 0.55
8.250 - 8.499 7 670,883.43 0.36
8.500 - 8.749 8 887,681.53 0.47
8.750 - 8.999 45 6,207,027.92 3.32
9.000 - 9.249 28 4,210,885.11 2.25
9.250 - 9.499 78 10,819,344.98 5.79
9.500 - 9.749 86 11,501,770.25 6.15
9.750 - 9.999 171 24,454,061.96 13.08
10.000 - 10.249 32 3,327,726.51 1.78
10.250 - 10.499 69 9,156,954.83 4.90
10.500 - 10.749 46 6,000,409.70 3.21
10.750 - 10.999 92 10,071,935.19 5.39
11.000 - 11.249 18 1,843,964.49 0.99
11.250 - 11.499 28 2,456,205.92 1.31
11.500 - 11.749 21 2,304,361.47 1.23
11.750 - 11.999 17 1,834,303.76 0.98
12.000 - 12.249 6 671,640.75 0.36
12.250 - 12.499 10 654,416.83 0.35
12.500 - 12.749 8 713,076.58 0.38
12.750 - 12.999 4 245,191.92 0.13
13.000 - 13.249 4 313,941.70 0.17
13.250 - 13.499 2 131,207.44 0.07
13.500 - 13.749 1 80,983.93 0.04
- --------- ----
Total 1,507 $186,893,420.15 100.00%
----- ===== =============== ========
</TABLE>
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
26
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
PREPAYMENT SCENARIOS
<TABLE>
<CAPTION>
Scenario I Scenario II Scenario III Scenario IV Scenario V
---------------- --------------- ---------------- ---------------- --------------
<S> <C> <C> <C> <C> <C>
Adjustable Rate Mortgage Loans (1) 18% 24% 30% 36% 42%
Fixed Rate Mortgage Loans (2) 75% 100% 125% 150% 175%
</TABLE>
(1) As a conditional prepayment rate ("CPR") percentage.
(2) As a percentage of the Prepayment Assumption for Fixed Rate Mortgage Loans.
CPR PREPAYMENT SENSITIVITIES
<TABLE>
<CAPTION>
Scenario I Scenario II Scenario III Scenario IV Scenario V
-------------- -------------- -------------- --------------- --------------
WAL/Maturity WAL/Maturity WAL/Maturity WAL/Maturity WAL/Maturity
<S> <C> <C> <C> <C> <C>
To Call
AF-1 1.52 12/03 1.20 03/03 1.01 10/02 0.87 07/02 0.78 04/02
AF-2 3.28 04/04 2.54 06/03 2.07 01/03 1.75 09/02 1.52 06/02
AF-3 4.94 01/08 3.79 05/06 3.01 04/05 2.37 10/03 2.04 05/03
AF-4 8.18 08/09 6.27 07/07 5.04 03/06 4.00 04/05 2.73 10/03
AF-5 8.79 08/09 6.71 07/07 5.38 03/06 4.46 04/05 3.57 07/04
MF-1 7.33 08/09 5.61 07/07 4.57 03/06 4.08 04/05 3.71 07/04
MF-2 7.33 08/09 5.61 07/07 4.55 03/06 3.97 04/05 3.65 07/04
BF-1 5.71 04/08 4.37 07/06 3.60 06/05 3.29 08/04 3.24 03/04
AV-1 3.26 08/09 2.37 07/07 1.73 03/06 1.24 04/05 0.98 07/03
MV-1 6.62 08/09 5.07 07/07 4.58 03/06 4.45 04/05 3.66 07/04
MV-2 6.62 08/09 5.02 07/07 4.29 03/06 4.11 04/05 3.65 07/04
BV-1 4.84 07/07 3.65 09/05 3.30 08/04 3.31 05/04 2.96 01/04
To Maturity
AF-1 1.52 12/03 1.20 03/03 1.01 10/02 0.87 07/02 0.78 04/02
AF-2 3.28 04/04 2.54 06/03 2.07 01/03 1.75 09/02 1.52 06/02
AF-3 4.94 01/08 3.79 05/06 3.01 04/05 2.37 10/03 2.04 05/03
AF-4 8.40 12/12 6.48 06/10 5.18 10/08 4.06 08/07 2.73 10/03
AF-5 10.49 12/12 8.21 06/10 6.74 10/08 5.73 08/07 4.38 04/06
MF-1 9.09 04/15 7.14 08/12 5.88 09/10 5.20 04/09 5.48 02/08
MF-2 9.07 04/15 7.13 08/12 5.85 09/10 5.06 04/09 4.53 02/08
BF-1 5.71 04/08 4.37 07/06 3.60 06/05 3.29 08/04 3.24 03/04
AV-1 3.43 08/12 2.50 02/10 1.83 06/08 1.26 03/06 0.98 07/03
MV-1 7.87 01/15 6.00 01/12 5.28 01/10 5.83 07/08 4.97 04/07
MV-2 7.87 01/15 5.94 01/12 4.98 01/10 4.50 07/08 4.01 04/07
BV-1 4.84 07/07 3.65 09/05 3.30 08/04 3.31 05/04 2.96 01/04
</TABLE>
* The Certificates will be priced, with respect to the Fixed Rate Mortgage
Loans, using 125% of the Base Prepayment Assumption. The Base Prepayment
Assumption assumes a conditional prepayment rate of 4% per annum of the then
outstanding principal balance of the Fixed Rate Mortgage Loans in the first
month of the life of the Fixed Rate Mortgage Loans and an additional 1.45%
(precisely, 16%/11) per annum in each month thereafter until the twelfth month.
Beginning in the twelfth month and in each month thereafter, the conditional
prepayment rate is 20% (times 125%). The Certificates will be priced, with
respect to the Adjustable Rate Mortgage Loans, using a constant prepayment rate
of 30% CPR.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
27
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
ADJUSTABLE RATE NET FUNDS CAP RATE
----------------------------------
Period Scenario I Scenario II Period Scenario I Scenario II
------ ---------- ----------- ------ ---------- -----------
1 9.62 9.62 38 12.06 15.54
2 9.62 9.63 39 12.06 15.63
3 9.62 9.63 40 12.06 15.69
4 9.62 9.63 41 12.06 15.7
5 9.63 9.63 42 12.06 15.79
6 9.63 9.63 43 12.06 15.81
7 9.63 9.63 44 12.06 15.83
8 9.63 9.63 45 12.06 15.84
9 9.63 9.63 46 12.06 15.84
10 9.63 9.64 47 12.06 15.85
11 9.64 9.64 48 12.06 15.86
12 9.64 9.64 49 12.06 15.87
13 9.65 9.65 50 12.06 15.88
14 9.66 9.67 51 12.06 15.89
15 9.70 9.71 52 12.06 15.89
16 9.73 9.74 53 12.06 15.89
17 9.80 9.81 54 12.06 15.89
18 10.01 10.04 55 12.06 15.89
19 10.44 10.51 56 12.06 15.89
20 11.19 11.4 57 12.06 15.89
21 11.59 11.94 58 12.06 15.89
22 11.68 12.07 59 12.06 15.89
23 11.71 12.13 60 12.06 15.89
24 11.97 12.57 61 12.06 15.89
25 11.97 12.78 62 12.06 15.89
26 11.97 13.18 63 12.06 15.89
27 11.98 13.44
28 11.98 13.51
29 11.98 13.56
30 11.99 13.83
31 12.01 14.08
32 12.03 14.51
33 12.05 14.8
34 12.05 14.87
35 12.05 14.88
36 12.06 15.04
37 12.06 15.25
* Scenario I is achieved assuming 6 month LIBOR stays constant at 6.61938%; run
at the pricing speed to call.
** Scenario II is achieved assuming 6 month LIBOR instantaneously increases to a
level beyond the highest maximum obtainable rate on the underlying adjustable
rate mortgage loans; run at the pricing speed to call.
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
28
<PAGE>
COMPUTATIONAL MATERIALS FOR CONSECO FINANCE
[LOGO] Merrill Lynch CERTIFICATES FOR HOME EQUITY LOANS, SERIES 2000-F
--------------------------------------------------------------------------------
FOR ADDITIONAL INFORMATION PLEASE CALL:
Asset Backed Securities Group
-----------------------------
Ken Mulford (212) 449-0752
Andy Coon (212) 449-8721
David Wu (212) 449-2610
Demetrios Tsipras (212) 449-9486
Vu Nguyen (212) 449-1955
Brian Swinteck (212) 449-4242
Neeraj Tulshan (212) 449-5494
MBS/ABS Trading
---------------
(New York)
Scott Soltas (212) 449-3659
Terrence Mack (212) 449-3659
Brian Kane (212) 449-3659
Laila Kollmorgen (212) 449-3659
Vince Mora (212) 449-5320
Asset Backed Research
---------------------
Glenn Costello (212) 449-4457
Joshua Anderson (212) 449-9622
--------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do not
use or rely on this information if you have not received or reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy. The collateral information set forth in the
Computational Materials supersedes any previously distributed collateral
information relating to the securities discussed in this communication and will
be superseded by the
29
