<PAGE>
$620,135,000 Offered (approximate)
[LOGO OF CONSECO]
Conseco Finance Securitizations Corp.
Seller
Conseco Finance Corp.
Servicer
Certificates for Home Equity Loans Series 2001-A
--------------------------------------------------------------------------------
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superseded by any subsequent versions (including, with respect to any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>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
TERM SHEET DATED January 18, 2001
Conseco Finance Securitizations Corp.
Certificates for Home Equity Loans, Series 2001-A
$620,135,000 (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: Lehman Brothers
CO-UNDERWRITERS: Banc One Capital Markets Inc.
Credit Suisse First Boston
Deutsche Banc Alex.Brown
Merrill Lynch & Co.
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Est. Est. Est. Prin. Est. Prin. Expected
WAL WAL Window Window Final Expected Ratings
Approx. Type (yrs) (yrs) (mos) (mos) Distribution
Class Size Call/(1)/ Maturity Call/(1)/ Maturity Date (to call)
-------------------------
S&P Moody's Fitch
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Group I
-------
I-A-1 155,500,000 SEN/SEQ 0.94 0.94 1 - 22 (22) 1 - 22 (22) 03/2032 AAA Aaa AAA
I-A-2 48,000,000 SEN/SEQ 2.24 2.24 22 - 31 (10) 22 - 31 (10) 03/2032 AAA Aaa AAA
I-A-3 35,000,000 SEN/SEQ 3.09 3.09 31 - 46 (16) 31 - 46 (16) 03/2032 AAA Aaa AAA
I-A-4 48,000,000 SEN/SEQ 4.97 5.10 46 - 67 (22) 46 - 76 (31) 03/2032 AAA Aaa AAA
I-A-5 (2) 30,840,000 SEN/SEQ 5.63 7.18 67 - 67 (1) 76 - 97 (22) 03/2032 AAA Aaa AAA
I-IO (3)(4) 100,000,000 SEN/IO - - - - - AAA Aaa AAA
I-M-1 21,680,000 MEZ 4.67 5.83 39 - 67 (29) 39 - 116 (78) 03/2032 AA Aa2 AA
I-M-2 17,990,000 MEZ 4.65 5.80 38 - 67 (30) 38 - 116 (79) 03/2032 A A1 A
I-B-1 13,930,000 SUB 4.64 5.75 37 - 67 (31) 37 - 116 (80) 03/2032 BBB Baa1 BBB
Group II
--------
II-A-1 119,000,000 SEN/SEQ 0.95 0.95 1 - 26 (26) 1 - 26 (26) 03/2032 AAA Aaa AAA
II-A-2 48,000,000 SEN/SEQ 3.24 3.24 26 - 62 (37) 26 - 62 (37) 03/2032 AAA Aaa AAA
II-A-3 (2) 31,700,000 SEN/SEQ 6.52 7.15 62 - 81 (20) 62 - 102 (41) 03/2032 AAA Aaa AAA
II-M-1 19,200,000 MEZ 5.48 6.44 38 - 81 (44) 38 - 122 (85) 03/2032 AA Aa1 AA
II-M-2 16,830,000 MEZ 5.48 6.43 37 - 81 (45) 37 - 122 (86) 03/2032 A A1 A
II-B-1 14,465,000 SUB 5.41 5.77 37 - 81 (45) 37 - 122 (86) 03/2032 BBB Baa1 BBB
Non-Offered Certificates
------------------------
I-B-2 16,060,000 SUB 4.08 4.10 37 - 67 (31) 37 - 72 (36) 03/2032 Ba1
II-B-2 13,805,000 SUB 4.31 4.31 37 - 71 (35) 37 - 71 (35) 03/2032 Ba2
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) All Offered Certificates are priced to 20% call.
(2) In the event that the Purchase Option, Auction Sale is not exercised, the
Class I-A-5 and Class II-A-3 pass-through rate will increase by 0.50%.
(3) The Class I-IO Certificate is an interest only certificate and is not
entitled to receive principal payments.
(4) The Class I-IO Certificate will bear interest on the notional balance at a
rate of 2.71% per annum.
Pricing Speed: Group I Mortgage Loans - 125% PPC - 100% PPC (Prepayment
Assumption) assumes a constant prepayment of 4% CPR in month
one increased by approximately an additional 1.45% each
month to 20% CPR in month twelve, and remaining at 20% CPR
thereafter.
Group II Mortgage Loans - 100% PPC
--------------------------------------------------------------------------------
Receipients 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 Lehman Brothers
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 information set forth in the final prospectus supplement.
2
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
-------------------------------------------------------------------------------
Seller: Conseco Finance Securitizations Corp.
Servicer: Conseco Finance Corp. ("Conseco")
Trustee: U.S. Bank Trust National Association, St. Paul,
Minnesota
Statistical
Calculation Date: December 31, 2000
Cut-off Date: The trust will be entitled to receive all
payments due after December 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: January 31, 2001
Expected Pricing Date: The week of January 22, 2001
Registration: The Offered Certificates will be available in book-
entry form through DTC, Euroclear or Clearstream.
Record Date: The business day just before the Payment Date.
Payment Date: The 15th day of each month (or if such 15th day is
not a business day, the next succeeding business day)
commencing in March 2001.
Mortgage Loan
Groups: 1) Group I generally supports the Group I
certificates;
2) Group II generally supports the Group II
certificates.
Day Count: 30/360
Denominations: $1,000 minimum and integral multiples of $1,000 in
excess thereof.
Tax Status: REMIC Election
ERISA: The Class I-A Certificates, Class I-M Certificates,
Class I-B-1 Certificates, and the Class II-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.
--------------------------------------------------------------------------------
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 Lehman Brothers
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 information set forth in the final prospectus supplement.
3
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
-------------------------------------------------------------------------------
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 December 31,
2000. The Initial Mortgage Loans consist primarily of
conventional, fully amortizing and balloon, first,
second, and third lien, fixed rate closed end, one-
to four-family residential mortgage loans. The total
Initial Mortgage Loans will consist of 8,203 loans,
with a principal balance of $571,846,817.49. The
Initial Mortgage Loans have been divided into two
separate Mortgage Loan Groups. The Initial Group I
will consist of 4,585 fixed rate mortgage loans with
a principal balance of $309,060,803.33. The Initial
Group II will consist of 3,618 fixed rate mortgage
loans with a principal balance of $262,786,014.16.
Additional Collateral: Between the Statistical Calculation Date and the
Expected Closing Date, the Seller expects to deposit
Additional Mortgage Loans ("Additional Mortgage
Loans"). It is expected that the Additional Mortgage
Loans deposited for each group will have
characteristics which are substantially similar to
the Initial Mortgage Loans for 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 two
segregated accounts (the "Pre-Funding Accounts") and
used by the Trust to purchase additional Mortgage
Loans (the "Subsequent Loans") during the
approximately 90 day period following the Closing
Date (the "Pre-Funding Period). The amount on deposit
in the Pre-Funding Accounts is not expected to exceed
25% of the original principal balance of the Offered
Certificates. 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 for Group I following the
Pre-Funding Period will be paid sequentially to the
Class I-A Certificateholders. Any amounts remaining
in the Pre-Funding Account for Group II following the
Pre-Funding Period will be paid sequentially to the
Class II-A Certificateholders.
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.
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 for the related Mortgage Loan Group. The
"Amount Available" for each Mortgage Loan Group will
generally consist of payments made on or in respect
of the Mortgage Loans in such Mortgage Loan Group,
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.
Interest on the
Class A, M-1, M-2, and
B-1 Certificates: On each Payment Date the Group I Amount Available
will be distributed to pay interest as follows:
. First to each class of the Class I-A Certificates
(I-A-1, I-A-2, I-A-3, I-A-4, I-A-5, I-IO)
concurrently,
. then to the Class I-M-1 Certificates,
. then to the Class I-M-2 Certificates, and
. then to the Class I-B-1 Certifcates.
--------------------------------------------------------------------------------
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 Lehman Brothers
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 information set forth in the final prospectus supplement.
4
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Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
-------------------------------------------------------------------------------
On each Payment Date the Group II Amount Available
will be distributed to pay interest as follows:
. First to each class of the Class II-A
Certificates (II-A-1, II-A-2, II-A-3)
concurrently,
. then to the Class II-M-1 Certificates,
. then to the Class II-M-2 Certificates, and
. then to the Class II-B-1 Certifcates.
Interest will accrue on the outstanding Class A
Certificate principal balance (or in the case of the
I-IO Certificate, the notional balance), Class M-1
adjusted principal balance, Class M-2 adjusted
principal balance, and the Class B-1 adjusted
principal balance, at the related pass-through rate
calculated on a 30/360 basis. Interest on the
outstanding Class A Certificate principal balance (or
in the case of the I-IO Certificate, the notional
balance), Class M-1 adjusted principal balance, Class
M-2 adjusted principal balance and Class B-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.
The Class I-IO certificate will have a notional
balance equal to (i) on and before the August 2002
payment date, the lesser of $100,000,000 or the
outstanding balance of the Class I-A Certificates and
(ii) after the August 2002 payment date $0.
Step-up Coupon: In the event that the Purchase Option, Auction Sale
is not exercised, the Class I-A-5 and Class II-A-3
pass-through rate will increase by 0.50%.
Interest Shortfalls
And Carryovers: If the related Amount Available on any Payment Date
is insufficient to make the full distributions of
interest to a class of certificates in the related
group (the related Class A Certificates should be
treated as a single class for this purpose), the
related 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.
Principal
Distributions: On each Payment Date after all interest is paid to
the Class I-A, Class I-M-1, Class I-M-2, and Class
I-B-1 Certificateholders, the remaining Group I
Amount Available will be distributed to make
principal distributions as follows and in the
following order of priority:
i) first, to the Class I-A Certificates, the Class
I-A Formula Principal Distribution Amount;
ii) then, to the Class I-M-1 Certificates, the Class
I-M-1 Formula Principal Distribution Amount;
iii) then, to the Class I-M-2 Certificates, the Class
I-M-2 Formula Principal Distribution Amount; and
iv) then, to the Class I-B-1 Certificates, the Class
I-B-1 Formula Principal Distribution Amount.
--------------------------------------------------------------------------------
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 Lehman Brothers
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 information set forth in the final prospectus supplement.
5
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Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
-------------------------------------------------------------------------------
On each Payment Date after all interest is paid to
the Class II-A, Class II-M-1, Class II-M-2, and Class
II-B-1 Certificateholders, the remaining Group II
Amount Available will be distributed to make
principal distributions as follows and in the
following order of priority:
i) first, to the Class II-A Certificates, the Class
II-A Formula Principal Distribution Amount;
ii) then, to the Class II-M-1 Certificates, the
Class II-M-1 Formula Principal Distribution
Amount;
iii) then, to the Class II-M-2 Certificates, the
Class II-M-2 Formula Principal Distribution
Amount;
iv) then, to the Class II-B-1 Certificates, the
Class II-B-1 Formula Principal Distribution
Amount.
On each Payment Date, the Class I-A Formula Principal
Distribution Amount will be distributed sequentially
to the Class I-A Certificates, and the Class II-A
Formula Principal Distribution Amount will be
distributed sequentially to the Class II-A
Certificates.
If the related Amount Available on any Payment Date
is insufficient to make full distributions of
principal to a class of certificates in the related
group, the related Amount Available remaining after
payments with a higher payment priority are made will
be distributed pro-rata among such class.
--------------------------------------------------------------------------------
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 Lehman Brothers
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 information set forth in the final prospectus supplement.
6
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
-------------------------------------------------------------------------------
Group I 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 Group I loan during the related
Due Period, (ii) the scheduled principal balance
of each Group I 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 Group I loan, (iv)
the scheduled principal balance of each Group I
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.
Group II 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 Group II loan during the related
Due Period, (ii) the scheduled principal balance
of each Group II 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 Group II loan, (iv)
the scheduled principal balance of each Group II
loan that became a liquidated loan during the
related Due Period, and (v) any amount described
in clauses (i) through (iv) above that was not
previously distributed because of an insufficient
amount of funds available.
Class A Formula
Principal
Distribution Amount: The Class A Formula Principal Distribution Amount
will generally be equal to (i) if the Payment Date
is prior to the related Stepdown Date or a Trigger
Event exists, the respective Group I or Group II
Formula Principal Distribution Amount, or (ii)
with respect to any Payment Date on or after the
Stepdown Date and as to which a Trigger Event is
not in effect, the excess of (i) the related Class
A Certificate Principal Balance immediately prior
to such Payment Date over (ii) the lesser of (a)
59.50% for Group I or 41.10% for Group II of the
aggregate 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 $8,700,000 for Group I or $13,150,000 for
Group II.
Class M-1 Formula
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) 70.70% for Group I or 55.70% for
Group II 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 $8,700,000 for Group I or
$13,150,000 for Group II.
--------------------------------------------------------------------------------
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 Lehman Brothers
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 information set forth in the final prospectus supplement.
7
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Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
Class M-2 Formula
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) 80.00% for Group I or 68.50% for Group II 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 $8,700,000 for Group I or
$13,150,000 for Group II.
Class B-1 Formula
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) 87.20% for Group I or 79.50% for Group
II 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 $8,700,000 for Group I or $13,150,000 for Group
II.
Class B-2 Interest: On each Payment Date, after payment of all interest
and principal due on the related 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 applicable
Class B-2 pass-through rate and (b) the then
outstanding Class B-2 Certificate 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 B-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
permissible.
Class B-2 Formula
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 and
(E) the related Class B-2 Certificate Principal
Balance immediately prior to such Payment Date over
(ii) the lesser of (a) 95.50% for Group I or 90.00%
for Group II 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 $8,700,000 for Group I or $13,150,000 for Group
II.
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 March 2004 and (B) the first Payment
Date on which the related Class A Certificate
Principal Balance is less than or equal to 59.50% for
Group I or 41.10% for Group II 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 Lehman Brothers
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 information set forth in the final prospectus supplement.
8
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Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
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) 35.00% for Group I
and 17.00% for Group II; or
(2) The cumulative realized losses 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>
Group I Group II
------- --------
Month Percentage Month Percentage
----- ---------- ----- ----------
<S> <C> <C> <C>
37-48 4.50% 37-48 5.25%
49-60 5.50% 49-60 7.00%
61-72 6.00% 61-72 8.50%
73 and thereafter 6.25% 73 and thereafter 8.75%
</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 Certificate Principal
Balance, by (ii) the Pool Scheduled Principal
Balance.
Credit Support Percentage:
<TABLE>
<CAPTION>
Group I
Initial Credit Support After Stepdown Date
---------------------- -------------------
Rating Percent Rating Percent
------ ------- ------ -------
<S> <C> <C> <C>
AAA/Aaa/AAA 18.00% AAA/Aaa/AAA 40.50%
AA/Aa2/AA 12.40% AA/Aa2/AA 29.30%
A/A1/A 7.75% A/A1/A 20.00%
BBB/Baa1/BBB 4.15% BBB/Baa1/BBB 12.80%
<CAPTION>
Group II
Initial Credit Support After Stepdown Date
---------------------- -------------------
Rating Percent Rating Percent
------ ------- ------ -------
<S> <C> <C> <C>
AAA/Aaa/AAA 24.45% AAA/Aaa/AAA 58.90%
AA/Aa1/AA 17.15% AA/Aa1/AA 44.30%
A/A1/A 10.75% A/A1/A 31.50%
BBB/Baa1/BBB 5.25% BBB/Baa1/BBB 20.50%
</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 Lehman Brothers
account nexecutive 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 information set forth in the final prospectus supplement.
9
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Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
Losses on Liquidated
Home Equity Loans: If net liquidation proceeds from liquidated loans in
Group I or Group II in the respective collection
period are less than the respective group's scheduled
principal balance of such liquidated loans plus
accrued and unpaid interest thereon, the deficiency
(a "Liquidation Loss Amount") will be absorbed by the
respective Class C Certificateholder, then the
respective Servicing Fee otherwise payable to the
Servicer (as long as Conseco is the Servicer), then
the respective Class B-2 Certificateholders, then the
respective Class B-1 Certificateholders, then the
respective Class M-2 Certificateholders and then the
respective 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 Overcollaterali-
zation Amount: The Target Overcollateralization Amount will equal
2.25% for Group I and 5.00% for Group II 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. If
the Target Overcollateralization Amount for a
Mortgage Loan Group is met on a Payment Date, any
amount available remaining after payment of all
interest and principal payable on the corresponding
certificates and the Monthly Servicing Fee for such
Payment Date will be applied to build the
overcollateralization for the other Mortgage Loan
Group.
Cross-collateralization: In the event that collections with respect to a
particular Mortgage Loan Group are in excess of the
amount required to pay interest and principal due on
the certificates related to such Mortgage Loan Group
on a given Payment Date, such excess will be
available to pay interest and principal then due on
any certificates related to the other Mortgage Loan
Group to the extent that collections with respect to
such Mortgage Loan Group are not sufficient to pay
interest and principal due on such Payment Date on
such certificates.
Purchase Option;
Auction Sale: Beginning on the Payment Date when the scheduled
principal balance of the loans in either Group is
less than 20% of the Cut-off Date principal balance
of the loans of that Group, the holder of the Class C
Certificates will have the right to repurchase all of
the outstanding loans of that Group, 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 of that Group 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 in the related
Group 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.
--------------------------------------------------------------------------------
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 Lehman Brothers
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 information set forth in the final prospectus supplement.
10
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
If the Purchase Option is not exercised by the holder
of the Class C Certificates of that group, excess
cashflow after all payments of interest and principal
due on the Certificates (excluding Class C) are made
will be used to paydown principal as follows:
For the Group I certificates:
(i) first, excess cash-flow from Group I will be
used to pay down the Class I-A Certificates in
sequential order until the certificate principal
balances are reduced to zero;
(ii) next, all excess cashflow from Group I will be
used to pay the remaining Group I certificates,
pro-rata based on outstanding principal balance,
until the related certificate principal balances
are reduced to zero.
For the Group II certificates:
(i) first, excess cash-flow from Group II will be
used to pay down the Class II-A Certificates in
sequential order until the certificate principal
balances are reduced to zero;
(ii) next, all excess cashflow from Group II will be
used to pay the remaining Group II certificates,
pro-rata based on 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 Lehman Brothers
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 information set forth in the final prospectus supplement.
11
<PAGE>
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Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
GROUP I
Summary
<TABLE>
<CAPTION>
Total Minimum Maximum
----- ------- -------
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Calculation Date Aggregate Principal Balance $309,060,803.33
Number of Loans 4,585
Average Original Loan Balance 67,531.89 4,789.00 427,500.00
Average Current Loan Balance 67,406.94 4,771.28 427,500.00
Weighted Average Combined LTV 89.65% 7.98% 100.00%
Weighted Average Gross Coupon 13.038% 6.750% 20.840%
Weighted Average Remaining Term to Maturity (months) 244 55 360
Weighted Average Original Term (months) 246 60 360
Weighted Average FICO Credit Score 623 455 815
Weighted Average Debt to Income Ratio 43.40% 8.00% 100.00%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Percent of Statistical Calculation
----------------------------------
Range Date Principal Balance
----- ----------------------
<S> <C> <C>
Fully Amortizing Mortgage Loans 63.36%
Balloon Mortgage Loans 36.64%
Lien Position First 76.10%
Second 23.36%
Third 0.54%
Property Type Manufactured Homes 5.78%
Single Family 91.79%
Other 2.43%
Occupancy Status Primary 98.27%
Rental 1.73%
Geographic Distribution California 12.12%
Florida 5.68%
Texas 5.53%
Pennsylvania 4.65%
Largest Zip Code Concentration 85331 (CA) 0.31%
Credit Grade A-1 51.38%
A-2 22.37%
B 21.58%
C 4.38%
D 0.26%
Unknown 0.03%
Delinquency 0 - 29 Days 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 Lehman Brothers
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 information set forth in the final prospectus supplement.
12
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Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
GEOGRAPHIC DISTRIBUTION - GROUP I
Aggregate Principal % of Group I by
State or Territory Number of Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alabama 161 $ 9,603,289.77 3.11%
Arkansas 70 4,398,054.98 1.42
Arizona 132 11,169,789.04 3.61
California 388 37,449,988.72 12.10
Colorado 90 6,908,336.16 2.24
Connecticut 85 6,016,036.03 1.95
Delaware 8 489,126.53 0.16
District Of Columbia 4 230,068.34 0.07
Florida 243 17,550,485.70 5.68
Georgia 140 9,650,656.45 3.12
Idaho 19 1,003,151.61 0.32
Illinois 233 14,195,920.96 4.59
Indiana 72 4,164,155.64 1.35
Iowa 40 1,799,039.71 0.58
Kansas 53 2,641,571.67 0.85
Kentucky 62 3,562,251.86 1.15
Louisiana 71 4,644,697.92 1.50
Maine 7 532,940.35 0.17
Maryland 32 1,643,832.79 0.53
Massachusetts 74 4,935,047.26 1.60
Michigan 190 13,263,953.16 4.29
Minnesota 159 8,472,004.83 2.74
Mississippi 56 2,909,109.73 0.94
Missouri 153 7,616,489.84 2.46
Montana 2 143,700.00 0.05
Nebraska 31 1,489,735.88 0.48
Nevada 68 5,251,777.32 1.70
New Hampshire 12 646,410.98 0.21
New Jersey 76 5,393,272.31 1.75
New Mexico 22 1,838,291.92 0.59
New York 171 13,240,516.70 4.28
North Carolina 137 9,569,665.03 3.10
North Dakota 13 600,053.34 0.19
Ohio 183 10,764,900.73 3.48
Oklahoma 50 2,930,106.78 0.95
Oregon 32 2,705,374.98 0.88
Pennsylvania 272 14,371,563.53 4.65
Rhode Island 20 984,406.26 0.32
South Carolina 107 7,916,851.48 2.56
South Dakota 10 711,155.44 0.23
Tennessee 144 11,018,149.37 3.57
Texas 312 17,098,414.57 5.53
Utah 36 2,214,841.79 0.72
Vermont 8 406,254.43 0.13
Virginia 85 5,261,475.22 1.70
Washington 145 13,660,513.00 4.42
West Virginia 27 1,274,904.88 0.41
Wisconsin 72 4,290,500.53 1.39
Wyoming 8 427,967.81 0.14
------- ----- --------------- ------
Total 4,585 $309,060,803.33 100.00%
----- ----- --------------- ------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
13
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
YEAR OF ORIGINATION - GROUP I
Aggregate Principal % of Group I by
Year of Origination Number of Loans Balance Outstanding Outstanding Principal Balance
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1997 5 $ 157,229.19 0.05%
1998 7 349,305.30 0.11
1999 12 565,576.45 0.18
2000 4,561 307,988,692.39 99.65
----- ----- --------------- ------
Total 4,585 $309,060,803.33 100.00%
----- ----- --------------- ------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
14
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
ORIGINAL LOAN AMOUNT DISTRIBUTION - GROUP I
Range of Number of Aggregate Principal % of Group I by
Original Loan Amount Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Less than $10,000.00 1 $ 4,771.28 *
10,000.00 - 19,999.99 420 6,311,728.34 2.04%
20,000.00 - 29,999.99 683 16,932,312.76 5.48
30,000.00 - 39,999.99 574 19,652,711.00 6.36
40,000.00 - 49,999.99 537 23,898,116.70 7.73
50,000.00 - 59,999.99 432 23,531,564.55 7.61
60,000.00 - 69,999.99 343 22,215,096.88 7.19
70,000.00 - 79,999.99 303 22,564,225.72 7.30
80,000.00 - 89,999.99 239 20,092,963.69 6.50
90,000.00 - 99,999.99 163 15,347,300.33 4.97
100,000.00 - 109,999.99 145 15,139,245.51 4.90
110,000.00 - 119,999.99 143 16,376,420.62 5.30
120,000.00 - 129,999.99 95 11,808,403.04 3.82
130,000.00 - 139,999.99 85 11,392,835.40 3.69
140,000.00 - 149,999.99 71 10,256,879.60 3.32
150,000.00 - 159,999.99 57 8,741,216.33 2.83
160,000.00 - 169,999.99 50 8,227,307.22 2.66
170,000.00 - 179,999.99 29 5,048,434.69 1.63
180,000.00 - 189,999.99 29 5,326,776.66 1.72
190,000.00 - 199,999.99 19 3,651,543.72 1.18
200,000.00 - 209,999.99 28 5,716,438.18 1.85
210,000.00 - 219,999.99 20 4,265,758.69 1.38
220,000.00 - 229,999.99 21 4,714,217.29 1.53
230,000.00 - 239,999.99 16 3,732,930.80 1.21
240,000.00 - 249,999.99 10 2,436,258.80 0.79
250,000.00 - 259,999.99 10 2,533,202.13 0.82
260,000.00 - 269,999.99 11 2,892,753.05 0.94
270,000.00 - 279,999.99 5 1,372,381.31 0.44
280,000.00 - 289,999.99 7 1,997,856.87 0.65
290,000.00 - 299,999.99 9 2,662,115.21 0.86
300,000.00 - 309,999.99 1 304,000.00 0.10
310,000.00 - 319,999.99 7 2,191,663.78 0.71
320,000.00 - 329,999.99 2 653,297.29 0.21
330,000.00 - 339,999.99 5 1,661,780.42 0.54
340,000.00 - 349,999.99 3 1,026,937.96 0.33
Greater than or equal to $350,000.00 12 4,379,357.51 1.42
------------------------------------ ----- --------------- ------
Total 4,585 $309,060,803.33 100.00%
------ ----- --------------- ------
</TABLE>
(*) Indicates an amount greater than zero but less than 0.005% of the
aggregate principal balance of the initial loans 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 Lehman Brothers
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 information set forth in the final prospectus supplement.
15
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
INTEREST RATE DISTRIBUTION - GROUP I
Range of Mortgage Aggregate Principal % of Group I by
Loan Interest Rates (%) Number of Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6.000 - 6.999 1 $ 81,720.25 0.03%
8.000 - 8.999 3 413,665.26 0.13
9.000 - 9.999 57 6,812,074.42 2.20
10.000 - 10.999 122 16,980,331.02 5.49
11.000 - 11.999 402 48,411,236.69 15.66
12.000 - 12.999 994 86,392,762.96 27.95
13.000 - 13.999 1,130 78,945,338.14 25.54
14.000 - 14.999 1,469 56,663,564.31 18.33
15.000 - 15.999 323 12,363,112.29 4.00
16.000 - 16.999 42 1,119,549.12 0.36
17.000 - 17.999 21 461,668.01 0.15
18.000 - 18.999 13 236,571.10 0.08
19.000 - 19.999 6 153,576.56 0.05
20.000 - 20.999 2 25,633.20 0.01
--------------- ----- --------------- ------
Total 4,585 $309,060,803.33 100.00%
----- ----- --------------- ------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
REMAINING MONTHS TO MATURITY - GROUP I
Number of Loans
Range of Remaining as of the Statistical Aggregate Principal % of Group by
Months to Maturity Calculation Date Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
31 - 60 19 $ 552,595.53 0.18%
61 - 90 21 502,796.57 0.16
91 - 120 223 8,319,219.48 2.69
121 - 150 26 1,182,219.12 0.38
151 - 180 835 54,672,463.97 17.69
181 - 210 35 1,161,144.76 0.38
211 - 240 2,575 174,426,922.35 56.44
241 - 270 1 19,398.98 0.01
271 - 300 499 30,688,949.33 9.93
331 - 360 351 37,535,093.24 12.14
--------- ----- --------------- ------
Total 4,585 $309,060,803.33 100.00%
----- ----- --------------- ------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
16
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
LIEN POSITION - GROUP I
Aggregate Principal % of Group by
Lien Number of Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
First 2,626 $235,208,430.43 76.10%
Second 1,914 72,198,656.06 23.36
Third 45 1,653,716.84 0.54
----- ----- --------------- ------
Total 4,585 $309,060,803.33 100.00%
----- ----- --------------- ------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
COMBINED LOAN-TO-VALUE RATIO - GROUP I
Range of Combined Aggregate Principal % of Group by
Loan-to-Value Ratios Number of Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.001 - 10.000 1 $ 12,256.43 *
10.001 - 15.000 7 108,339.99 0.04%
15.001 - 20.000 10 198,892.38 0.06
20.001 - 25.000 7 142,440.22 0.05
25.001 - 30.000 18 595,162.61 0.19
30.001 - 35.000 17 689,373.09 0.22
35.001 - 40.000 19 610,389.83 0.20
40.001 - 45.000 29 1,191,710.72 0.39
45.001 - 50.000 34 1,585,141.19 0.51
50.001 - 55.000 29 1,243,745.22 0.40
55.001 - 60.000 48 2,669,909.52 0.86
60.001 - 65.000 65 3,326,675.54 1.08
65.001 - 70.000 107 6,848,668.96 2.22
70.001 - 75.000 169 10,501,827.70 3.40
75.001 - 80.000 384 24,768,713.04 8.01
80.001 - 85.000 358 25,257,659.17 8.17
85.001 - 90.000 749 54,621,904.57 17.67
90.001 - 95.000 966 71,887,072.39 23.26
95.001 - 100.000 1,568 102,800,920.76 33.26
---------------- ----- --------------- ------
Total 4,585 $309,060,803.33 100.00%
----- ----- --------------- ------
</TABLE>
(*) Indicates an amount greater than zero but less than 0.005% of the
aggregate principal balance of the initial loans 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 Lehman Brothers
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 information set forth in the final prospectus supplement.
17
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
GROUP II
Summary
<TABLE>
<CAPTION>
Total Minimum Maximum
----- ------- -------
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Statistical Calculation Date Aggregate Principal Balance $262,786,014.16
Number of Loans 3,618
Average Original Loan Balance $ 73,440.15 $10,000.00 $353,112.11
Average Current Loan Balance $ 72,632.95 $ 1,132.93 $352,489.62
Weighted Average Combined LTV 104.39% 100.00% 125.00%
Weighted Average Gross Coupon 12.620% 7.520% 21.490%
Weighted Average Remaining Term to Maturity (months) 239 46 360
Weighted Average Original Term (months) 245 60 360
Weighted Average FICO Credit Score 631 456 810
Weighted Average Debt to Income Ratio 45.37% 3.00% 102.00%
-----------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
Percent of Statistical Calculation
----------------------------------
Range Date Principal Balance
----- ----------------------
<S> <C> <C>
Fully Amortizing Mortgage Loans 62.55%
Balloon Mortgage Loans 37.45%
Lien Position First 81.07%
Second 18.59%
Third 0.35%
Property Type Manufactured Homes 4.06%
Single Family 93.56%
Other 2.38%
Occupancy Status Primary 99.79%
Rental 0.21%
Geographic Distribution California 10.24%
Pennsylvania 7.27%
Illinois 6.12%
Washington 5.00%
Largest Zip Code Concentration 95376 (CA) 0.29%
Credit Grade A-1 72.87%
A-2 15.70%
B 9.79%
C 0.33%
D 0.26%
NA 1.05%
Delinquency 0 - 29 Days 99.63%
30 - 59 Days 0.34%
60 - 89 Days 0.04%
-----------------------------------------------------------------------------------------------------------------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
18
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
GEOGRAPHIC DISTRIBUTION - GROUP II
Aggregate Principal % of Group II by
State or Territory Number of Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alabama 61 $ 4,438,696.82 1.69%
Arkansas 65 4,335,259.17 1.65
Arizona 97 7,438,115.06 2.83
California 273 26,908,371.29 10.24
Colorado 62 5,525,096.47 2.10
Connecticut 77 4,520,867.33 1.72
Delaware 11 583,888.77 0.22
District Of Columbia 6 472,972.67 0.18
Florida 150 10,462,442.81 3.98
Georgia 130 10,399,741.11 3.96
Idaho 19 906,782.44 0.35
Illinois 239 16,083,879.12 6.12
Indiana 66 4,236,116.27 1.61
Iowa 106 6,724,961.06 2.56
Kansas 137 7,473,960.85 2.84
Kentucky 46 3,325,920.13 1.27
Louisiana 48 3,790,462.53 1.44
Maine 8 434,189.29 0.17
Maryland 46 3,083,748.63 1.17
Massachusetts 36 2,465,987.11 0.94
Michigan 132 10,172,541.13 3.87
Minnesota 122 8,884,127.13 3.38
Mississippi 48 2,990,403.26 1.14
Missouri 128 8,304,669.53 3.16
Montana 9 435,067.58 0.17
Nebraska 94 5,842,433.07 2.22
Nevada 56 3,114,676.96 1.19
New Hampshire 9 748,173.03 0.28
New Jersey 53 3,029,063.65 1.15
New Mexico 31 2,301,491.31 0.88
New York 72 4,050,830.99 1.54
North Carolina 62 4,503,821.32 1.71
North Dakota 11 609,081.70 0.23
Ohio 162 12,335,949.04 4.69
Oklahoma 69 4,284,192.33 1.63
Oregon 20 2,128,374.65 0.81
Pennsylvania 276 19,106,717.58 7.27
Rhode Island 10 773,127.50 0.29
South Carolina 76 6,051,319.02 2.30
South Dakota 12 836,533.23 0.32
Tennessee 78 6,193,687.94 2.36
Texas 2 46,086.02 0.02
Utah 26 1,810,263.31 0.69
Vermont 3 46,731.52 0.02
Virginia 147 9,895,689.14 3.77
Washington 114 13,140,951.96 5.00
West Virginia 21 1,564,357.23 0.60
Wisconsin 89 5,908,608.87 2.25
Wyoming 3 65,585.23 0.02
------- ------ --------------- -------
Total 3,618 $262,786,014.16 100.00%
----- ------ --------------- -------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
19
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
YEAR OF ORIGINATION - GROUP II
Aggregate Principal % of Group II by
Year of Origination Number of Loans Balance Outstanding Outstanding Principal Balance
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1995 1 $ 18,343.22 0.01%
1997 3 84,243.71 0.03
1998 20 1,017,770.39 0.39
1999 173 12,725,746.21 4.84
2000 3,421 248,939,910.63 94.73
----- ------ --------------- ------
Total 3,618 $262,786,014.16 100.00%
----- ------ --------------- ------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
20
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
ORIGINAL LOAN AMOUNT DISTRIBUTION - GROUP II
Range of Number of Aggregate Principal % of Group II by
Original Loan Amount Loans Balance Outstanding Outstanding Principal Balance
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
10,000.00 - 19,999.99 288 $ 4,361,400.39 1.66%
20,000.00 - 29,999.99 418 10,245,404.64 3.90
30,000.00 - 39,999.99 375 12,633,566.35 4.81
40,000.00 - 49,999.99 302 13,432,326.67 5.11
50,000.00 - 59,999.99 319 17,237,477.72 6.56
60,000.00 - 69,999.99 314 20,166,017.29 7.67
70,000.00 - 79,999.99 272 20,143,027.81 7.67
80,000.00 - 89,999.99 259 21,671,431.47 8.25
90,000.00 - 99,999.99 217 20,390,508.23 7.76
100,000.00 - 109,999.99 138 14,333,589.68 5.45
110,000.00 - 119,999.99 147 16,766,537.83 6.38
120,000.00 - 129,999.99 115 14,007,303.21 5.33
130,000.00 - 139,999.99 100 13,370,598.29 5.09
140,000.00 - 149,999.99 82 11,795,008.02 4.49
150,000.00 - 159,999.99 59 9,050,430.60 3.44
160,000.00 - 169,999.99 48 7,809,326.14 2.97
170,000.00 - 179,999.99 33 5,721,340.58 2.18
180,000.00 - 189,999.99 31 5,680,886.39 2.16
190,000.00 - 199,999.99 16 3,109,739.57 1.18
200,000.00 - 209,999.99 16 3,232,247.51 1.23
210,000.00 - 219,999.99 11 2,372,502.38 0.90
220,000.00 - 229,999.99 9 2,029,165.21 0.77
230,000.00 - 239,999.99 8 1,848,232.80 0.70
240,000.00 - 249,999.99 9 2,193,022.64 0.83
250,000.00 - 259,999.99 5 1,267,343.67 0.48
260,000.00 - 269,999.99 6 1,577,466.08 0.60
270,000.00 - 279,999.99 5 1,364,769.88 0.52
280,000.00 - 289,999.99 2 568,483.66 0.22
290,000.00 - 299,999.99 1 295,529.61 0.11
300,000.00 - 309,999.99 6 1,828,825.12 0.70
310,000.00 - 319,999.99 2 620,833.79 0.24
320,000.00 - 329,999.99 2 642,159.45 0.24
330,000.00 - 339,999.99 1 327,661.07 0.12
340,000.00 - 349,999.99 1 339,360.79 0.13
Greater than or equal to $350,000.00 1 352,489.62 0.13
------------------------------------ ----- --------------- ------
Total 3,618 $262,786,014.16 100.00%
----- ----- --------------- ------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
21
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
INTEREST RATE DISTRIBUTION - GROUP II
Range of Mortgage Aggregate Principal % of Group II by
Loan Interest Rates (%) Number of Loans Balance Outstanding Outstanding Principal Balance
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
7.000 - 7.999 2 $152,150.49 0.06%
8.000 - 8.999 23 3,058,960.85 1.16
9.000 - 9.999 83 11,375,923.05 4.33
10.000 - 10.999 212 25,632,907.19 9.75
11.000 - 11.999 547 56,800,708.71 21.61
12.000 - 12.999 957 85,319,491.93 32.47
13.000 - 13.999 565 38,233,561.31 14.55
14.000 - 14.999 592 23,410,192.05 8.91
15.000 - 15.999 378 12,857,170.42 4.89
16.000 - 16.999 97 2,567,321.76 0.98
17.000 - 17.999 59 1,279,448.18 0.49
18.000 - 18.999 51 1,041,392.47 0.40
19.000 - 19.999 41 871,505.55 0.33
20.000 - 20.999 9 144,922.37 0.06
21.000 - 21.999 2 40,357.83 0.02
--------------- ----- --------------- ------
Total 3,618 $262,786,014.16 100.00%
----- ----- --------------- ------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
REMAINING MONTHS TO MATURITY - GROUP II
Number of Loans
Range of Remaining as of the Statistical Aggregate Principal % of Group II by
Months to Maturity Calculation Date Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
31 - 60 7 $ 270,589.57 0.10%
61 - 90 13 422,546.78 0.16
91 - 120 156 5,670,397.43 2.16
121 - 150 13 571,693.69 0.22
151 - 180 796 57,980,972.04 22.06
181 - 210 19 1,048,396.23 0.40
211 - 240 1,809 128,367,288.64 48.85
241 - 270 6 511,086.17 0.19
271 - 300 576 42,370,512.17 16.12
331 - 360 223 25,572,531.44 9.73
--------- ----- --------------- ------
Total 3,618 $262,786,014.16 100.00%
----- ----- --------------- ------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
22
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
LIEN POSITION - GROUP II
Aggregate Principal % of Group II by
Lien Number of Loans Balance Outstanding Outstanding Principal Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
First 2,230 $213,036,598.36 81.07%
Second 1,351 48,839,727.84 18.59
Third 37 909,687.96 0.35
----- ----- --------------- ------
Total 3,618 $262,786,014.16 100.00%*
----- ----- --------------- ------
</TABLE>
*Due to rounding, totals may not add up to 100.00%
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------
COMBINED LOAN-TO-VALUE RATIO - GROUP II
Range of Combined Aggregate Principal % of Group II by
Loan-to-Value Ratios Number of Loans Balance Outstanding Outstanding Principal Balance
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
95.001 - 100.000 3 $81,523.48 0.03%
100.001 - 105.000 2,541 174,365,637.13 66.35
105.001 - 110.000 775 66,819,082.31 25.43
110.001 - 115.000 211 15,755,285.84 6.00
115.001 - 120.000 71 4,625,949.20 1.76
120.001 - 125.000 17 1,138,536.20 0.43
----------------- ----- --------------- ------
Total 3,618 $262,786,014.16 100.00%
----- ----- --------------- ------
</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 Lehman Brothers
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 information set forth in the final prospectus supplement.
23
<PAGE>
Computational Materials for Conseco Finance
Lehman Brothers Certificates for Home Equity Loans, Series 2001-A
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PREPAYMENT SCENARIOS
Scenario I Scenario II Scenario III Scenario IV Scenario V
-------------- --------------- ---------------- --------------- --------------
<S> <C> <C> <C> <C> <C>
Group I Mortgage Loans (PPC)* 75% 100% 125% 150% 175%
Group II Mortgage Loans (PPC)* 60% 80% 100% 120% 140%
</TABLE>
<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> <C> <C> <C> <C> <C>
To Call
I-A-1 1.44 02/2004 1.14 05/2003 0.94 12/2002 0.81 09/2002 0.72 06/2002
I-A-2 3.62 05/2005 2.77 05/2004 2.24 09/2003 1.88 04/2003 1.62 12/2002
I-A-3 5.26 05/2007 4.01 11/2005 3.09 12/2004 2.46 10/2003 2.10 06/2003
I-A-4 8.14 04/2010 6.22 02/2008 4.97 09/2006 3.86 09/2005 2.79 01/2005
I-A-5 9.21 04/2010 7.04 02/2008 5.63 09/2006 4.63 09/2005 3.96 01/2005
I-M-1 7.50 04/2010 5.73 02/2008 4.67 09/2006 4.16 09/2005 3.95 01/2005
I-M-2 7.51 04/2010 5.73 02/2008 4.65 09/2006 4.05 09/2005 3.80 01/2005
I-B-1 7.51 04/2010 5.73 02/2008 4.64 09/2006 3.99 09/2005 3.66 01/2005
II-A-1 1.56 10/2004 1.18 11/2003 0.95 04/2003 0.79 11/2002 0.67 08/2002
II-A-2 5.36 07/2009 4.07 08/2007 3.24 04/2006 2.43 05/2005 2.04 09/2003
II-A-3 10.47 12/2011 8.07 06/2009 6.52 11/2007 5.40 09/2006 3.75 10/2005
II-M-1 8.86 12/2011 6.80 06/2009 5.48 11/2007 4.81 09/2006 4.65 10/2005
II-M-2 8.86 12/2011 6.80 06/2009 5.48 11/2007 4.68 09/2006 4.30 10/2005
II-B-1 8.75 12/2011 6.73 06/2009 5.41 11/2007 4.57 09/2006 4.08 10/2005
To Maturity
I-A-1 1.44 02/2004 1.14 05/2003 0.94 12/2002 0.81 09/2002 0.72 06/2002
I-A-2 3.62 05/2005 2.77 05/2004 2.24 09/2003 1.88 04/2003 1.62 12/2002
I-A-3 5.26 05/2007 4.01 11/2005 3.09 12/2004 2.46 10/2003 2.10 06/2003
I-A-4 8.29 04/2011 6.36 12/2008 5.10 06/2007 3.98 06/2006 2.82 06/2005
I-A-5 11.24 06/2013 8.80 12/2010 7.18 03/2009 6.03 12/2007 4.99 10/2006
I-M-1 9.07 06/2015 7.09 10/2012 5.83 10/2010 5.17 05/2009 5.41 04/2008
I-M-2 9.07 06/2015 7.07 10/2012 5.80 10/2010 5.05 05/2009 4.57 04/2008
I-B-1 9.07 06/2015 7.07 10/2012 5.75 10/2010 4.88 05/2009 4.25 04/2008
II-A-1 1.56 10/2004 1.18 11/2003 0.95 04/2003 0.79 11/2002 0.67 08/2002
II-A-2 5.36 07/2009 4.07 08/2007 3.24 04/2006 2.43 05/2005 2.04 09/2003
II-A-3 11.22 02/2014 8.77 06/2011 7.15 08/2009 5.97 05/2008 4.08 12/2006
II-M-1 10.06 02/2016 7.91 04/2013 6.44 04/2011 5.65 09/2009 5.85 07/2008
II-M-2 10.06 02/2016 7.90 04/2013 6.43 04/2011 5.52 09/2009 4.98 07/2008
II-B-1 9.31 02/2016 7.23 04/2013 5.77 04/2011 4.83 09/2009 4.27 07/2008
</TABLE>
. The Certificates will be priced, with respect to the Group I Mortgage
Loans, using 125% PPC. The Certificates will be priced, with respect to
the Group II Mortgage Loans, using 100% PPC.
-------------------------------------------------------------------------------
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 Lehman Brothers
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 information set forth in the final prospectus supplement.
24
