<PAGE>
$716,250,000 Offered (approximate)
[LOGO OF CONSECO(SM)]
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superseded by any subsequent versions (including, with respect to any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 27, 2000
Conseco Finance Securitizations Corp.
Certificates for Manufactured Housing Contracts, Series 2000-5
$716,250,000 (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).
OFFERED CERTIFICATES:
--------------------------------------------------------------------------------
Ratings (S&P/ WAL at Exp. Final
Amount Moody's/Fitch) 175% MHP Maturity
--------------------------------------------------------------------------------
To Call
A-1 $130,000,000 AAA/Aaa/AAA 0.95 09/2002
A-2 $67,000,000 AAA/Aaa/AAA 2.34 08/2003
A-3 $67,000,000 AAA/Aaa/AAA 3.32 08/2004
A-4 $101,000,000 AAA/Aaa/AAA 5.02 03/2007
A-5 $40,000,000 AAA/Aaa/AAA 7.00 06/2008
A-6 $117,000,000 AAA/Aaa/AAA 10.02 06/2013
A-7 $104,250,000 AAA/Aaa/AAA 12.82 08/2013
M-1 $37,500,000 AA/Aa2/AA 9.26 08/2013
M-2 $30,000,000 A/A2/A 9.26 08/2013
B-1 $22,500,000 BBB/Baa2/BBB 5.63 04/2008
To Maturity
A-7 $104,250,000 AAA/Aaa/AAA 16.21 08/2021
M-1 $37,500,000 AA/Aa2/AA 9.84 09/2018
M-2 $30,000,000 A/A2/A 9.84 09/2018
--------------------------------------------------------------------------------
Total Balance $716,250,000
--------------------------------------------------------------------------------
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 $15,000,000.
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 49% 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%
------------------------------------------------------------
YEARS OF ORIGINATION OF INITIAL CONTRACTS
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
Number of Aggregate Principal % of Contracts by Outstanding
Origination Year Contracts as of Balance Outstanding as of Principal Balance as of the
the Cut-Off 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>
GEOGRAPHIC DISTRIBUTION OF INITIAL CONTRACT OBLIGORS
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
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>
DISTRIBUTION OF ORIGINAL INITIAL CONTRACT AMOUNTS
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
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>
CONTRACT RATE OF INITIAL CONTRACTS
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
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.
DISTRIBUTION OF ORIGINAL LOAN-TO-VALUE RATIOS OF INITIAL CONTRACTS
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------
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>
REMAINING MONTHS TO MATURITY OF INITIAL CONTRACTS
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
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>
PREPAYMENT SENSITIVITIES
<TABLE>
<CAPTION>
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>
To Call
A-1 1.77 04/2004 1.23 03/2003 0.95 09/2002 0.72 03/2002 0.62 01/2002
A-2 4.46 03/2006 3.05 06/2004 2.34 08/2003 1.77 11/2002 1.53 08/2002
A-3 6.40 04/2008 4.37 11/2005 3.32 08/2004 2.47 08/2003 2.13 03/2003
A-4 9.75 12/2012 6.74 05/2009 5.02 03/2007 3.48 01/2005 2.96 04/2004
A-5 13.18 11/2015 9.34 12/2010 7.00 06/2008 4.67 12/2005 3.78 11/2004
A-6 17.49 08/2021 13.03 12/2016 10.02 06/2013 6.97 12/2009 5.58 05/2008
A-7 21.07 11/2021 16.32 02/2017 12.82 09/2013 9.48 04/2010 7.97 10/2008
M-1 15.78 11/2021 11.71 02/2017 9.26 08/2013 7.51 04/2010 6.70 10/2008
M-2 15.78 11/2021 11.71 02/2017 9.26 08/2013 7.51 04/2010 6.70 10/2008
B-1 10.22 03/2014 7.07 04/2010 5.63 08/2008 5.17 04/2007 4.98 11/2006
B-2 18.51 11/2021 14.00 02/2017 10.98 08/2013 8.55 04/2010 7.46 10/2008
To Maturity
A-7 24.27 05/2028 19.98 05/2025 16.21 08/2021 12.08 12/2016 10.16 08/2014
M-1 16.36 02/2027 12.29 04/2022 9.84 09/2018 8.19 08/2015 7.46 03/2014
M-2 16.36 02/2027 12.29 04/2022 9.84 09/2018 8.19 08/2015 7.46 03/2014
B-2 20.16 02/2027 15.60 04/2022 12.54 09/2018 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 $6,073,253.37 76 76 12.176%
2 7,109,042.58 120 120 12.894
3 22,465,226.45 177 177 13.672
4 47,367,098.81 240 240 12.652
5 15,522,018.80 300 300 12.097
6 287,513,307.94 360 360 11.309
------------------------------------------------------------------------------------------------
Total: $386,049,947.95 323 323 11.686%
------------------------------------------------------------------------------------------------
</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
