SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) SEPTEMBER 23, 1997.
The Money Store Investment Corporation and The Money Store of
New York, Inc., as Originators under a Pooling and Servicing
Agreement dated as of August 31, 1997 providing for the
issuance of The Money Store SBA Loan-Backed Adjustable Rate
Certificates, Series 1997-1, Class A and Class B.
The Money Store Investment Corporation
and The Money Store of New York, Inc. (Exact name of
registrant as specified in its charter)
New Jersey 22-2293019
New York 333-32775 22-3143559
(State or other (Commission File (IRS Employer ID
jurisdiction of Number) Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (908) 686-2000
N/A
(Former name or former address, if changed since last report)
<PAGE>
Item 5. OTHER EVENTS
This Current Report on Form 8-K is being filed to file a copy
of the Computational Materials and ABS Term Sheets (as defined below) of
Prudential Securities Incorporated (the "Underwriter") in connection with the
issuance of $140,000,000 principal amount of The Money Store SBA Loan-Backed
Adjustable Rate Certificates, Series 1997-1. The terms "Computational Materials"
and "ABS Term Sheets" shall have the meanings given in the No-Action Letter of
May 20, 1994 issued by the Securities and Exchange Commission to Kidder, Peabody
Acceptance Corporation I, Kidder, Peabody & Co. Incorporated and Kidder
Structured Asset Corporation, as supplemented in the No-Action Letters of May
27, 1994 and February 17, 1995 issued by the SEC to the Public Securities
Association.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(c) EXHIBITS
EXHIBIT NO.
99.1 Computational Materials and ABS Term Sheets of Prudential
Securities Incorporated.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE MONEY STORE INVESTMENT CORPORATION
THE MONEY STORE OF NEW YORK INC.
By: /S/ MICHAEL H. BENOFF
Name: Michael H. Benoff
Title: Senior Vice President
Dated: September 24, 1997
<PAGE>
EXHIBIT INDEX
EXHIBIT PAGE
99.1 Computational Materials and ABS Term
Sheets of Prudential Securities Incorporated
EXHIBIT 99.1
PRELIMINARY INFORMATION FOR THE MONEY STORE SBA LOAN TRUST 1997-1
The Money Store Investment Corporation
and
The Money Store of New York, Inc.
Sellers
The Money Store SBA Loan-Backed Adjustable-Rate Certificates,
Series 1997-1
[$130,200,000] Class A Certificates
[$9,800,000] Class B Certificates
The analysis in this report is accurate to the best of PSI's knowledge and is
based on information provided by the Sellers. PSI makes no representations as to
the accuracy of such information provided to it by the Sellers. All assumptions
and information in this report reflect PSI's judgment as of this date and are
subject to change. All analyses are based on certain assumptions noted herein
and different assumptions could yield substantially different results. You are
cautioned that there is no universally accepted method for analyzing financial
instruments. You should review the assumptions; there may be differences between
these assumptions and your actual business practices. Further, PSI does not
guarantee any results and there is no guarantee as to the liquidity of the
instruments involved in this analysis. The decision to adopt any strategy
remains your responsibility. PSI (or any of its affiliates) or their officers,
directors, analysts or employees may have positions in securities, commodities
or derivative instruments thereon referred to here, and may, as principal or
agent, buy or sell such securities, commodities or derivative instruments. In
addition, PSI may make a market in the securities referred to herein. Neither
the information nor the assumptions reflected herein shall be construed to be,
or constitute, an offer to sell or buy or a solicitation of an offer to sell or
buy any securities, commodities or derivative instruments mentioned herein. No
sale of any securities, commodities or derivative instruments should be
consummated without the purchaser first having received a prospectus and, if
required, prospectus supplement. Finally, PSI has not addressed the legal,
accounting and tax implications of the analysis with respect to you, and PSI
strongly urges you to seek advice from your counsel, accountant and tax advisor.
<PAGE>
Preliminary Summary of Terms
THE MONEY STORE INVESTMENT CORPORATION
The Money Store SBA Loan-Backed
Adjustable Rate Certificates, Series 1997-1
[$130,200,000] Class A Certificates
[$9,800,000] Class B Certificates
(Approximate)
*** Preliminary ***
- - Overview
- - Pricing Information
- - Summary of Terms
- - Description of Transaction
- - Loan Pool Information
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Overview
The securities will be issued in two classes: Class A and Class B. The Class A
Certificates will be rated "Aaa/AAA" and the Class B Certificates will be rated
"A2/A" by Moody's and Duff & Phelps, respectively. These ratings reflect the
quality of the assets and the level of credit enhancement in the transaction.
The Money Store's SBA 7(a) loans generally are originated as simple-interest,
variable-rate, prime-based loans. The average rate on loans in this pool is
[2.08%] over the prime rate. Thus, substantial excess spread is available from
the sold, guaranteed portions to credit enhance the securitized, unguaranteed
portions ([1.38]%, expressed as a percentage of the principal balance of the
securitized, unguaranteed portions). In addition, excess spread of [3.86]% is
available from the unguaranteed portion assuming that the Aaa/AAA tranche is at
Prime - [228]bp and the A2/A tranche is at Prime - [180]bp. The total excess
spread that is available is thus approximately [5.24]%. The transaction also
features credit enhancement in the form of [7%] subordination (estimated) and an
estimated spread account with an initial balance of [0.50]% of the initial pool,
growing to a balance of [3.5]% of the remaining balance of the pool plus the
balance of all loans with delinquencies of greater than 180 days, subject to a
floor of [2.0]% of the original pool principal balance. The subordination
enhances the Class A certificates. The spread account protects both the Class A
and the Class B Certificates.
The certificates will be floating rate securities based on the prime rate. The
certificates will pay monthly and adjust quarterly. Funds are passed through to
the Certificateholders subject to available funds on the underlying collateral.
All of the loans are self-amortizing, so there is no balloon risk. The
certificates receive principal on a pro rata basis. The Class B Certificates
will bear all losses (if other forms of credit enhancement are exhausted) until
reduced to zero.
For additional information concerning pricing and relative value, please call
Greg Richter, Donna Faulk or Rob Karr on the asset-backed desk at (212)
778-2741. Additional structural and collateral information can be provided
through Lina Hsu at (212) 778-1451 of the Structured Finance Group or Len Blum
at (212) 778-1397 or John Herbert at (212) 778-3203 of the Asset-Backed Finance
Group.
<PAGE>
Approximate Pricing Information
Class A Class B
Face Amount: [$130,200,000] [$9,800,000]
(approximate)
Price: 100-00 100-00
Initial Coupon:
Spread (bps)/Index:
Pricing Speed: 8% CPR 8% CPR
Average Life to [7.296] years [7.296] years
Maturity:
Average Life to Call: [7.091] years [7.091] years
Pricing Date: [ ] [ ]
Settlement Date: [9/25/97] [9/25/27]
Dated Date: [9/15/97] [9/15/97]
Delay Days: 0 0
Interest: 30/360 30/360
Payment Terms: Monthly Monthly
Adjustment Frequency: Quarterly Quarterly
Index: Prime Rate Prime Rate
First Payment Date: [10/15/97] [10/15/97]
First Adjustment Date: [01/01/98] [01/01/98]
Expected Maturity: [07/15/19] [07/15/19]
Expected Maturity [11/15/12] [11/15/12]
(to 10% call):
Stated Maturity: [01/15/25] [01/15/25]
Expected Rating: Aaa/AAA A2/A
Moody's/Duff Moody's/Duff
<PAGE>
Summary of Terms
Title of Certificates: The Money Store SBA
Loan-Backed Adjustable Rate
Certificates, Series 1997-1.
Certificates Offered: Class A: Approximately
[$130,200,000] initial certificate
principal amount. Class B:
Approximately [$9,800,000] initial
certificate principal amount.
Sellers: The Money Store
Investment Corporation ("TMSIC"), a
New Jersey corporation, and The
Money Store of New York, Inc.
("MSNY"), a New York corporation.
TMSIC and MSNY are direct and
indirect, wholly-owned subsidiaries
of The Money Store Inc., a New
Jersey Corporation.
Master Servicer: TMSIC.
Backup Servicer: Trustee.
Trust Assets: The Trust assets will
consist of the unguaranteed portions
of loans originated by the Seller in
connection with the Section 7(a)
guaranteed loan program of the U.S.
Small Business Administration
("SBA"). Excess Servicing on the
guaranteed portions of the SBA 7(a)
loans also will be available as
credit enhancement to the
certificateholders.
Denominations: Minimum denominations of
$1,000 and integral multiples of
$1,000 in excess thereof.
Form of Certificates: The Class A Certificates
will be book-entry only through DTC
and the Class B Certificates will be
either book-entry through DTC or
physical form. The Class A and Class
B Certificates are also expected to
be book-entry eligible through
Euroclear and CEDEL.
Trustee: Marine Midland Bank.
Document Custodians: The promissory notes
evidencing the SBA 7(a) loans will
be held by the Agent of the SBA
(Colson Services Corp.). All other
documents will be held by the
Trustee.
Payment Date: The 15th day of each
month or, if such day is not a
business day, the next succeeding
business day, beginning in October
1997.
Interest Accrual Period: Interest will accrue on
the certificates from the 15th day
of the preceding month until the
14th day of the current month except
in the initial accrual period in
which interest will accrue from
September 15, 1997.
Interest Rate: Class A Certificates:
Prime Rate minus [ %]. Class B
Certificates: Prime Rate minus [ %].
The Interest Rate is reset quarterly
as described below.
Settlement Date: [September 25, 1997].
Ratings: Class A: "Aaa/AAA"; Class
B: "A2/A" by Moody's Investors
Service, Inc. and Duff & Phelps
Credit Rating Co., respectively.
Prefunding Account: Approximately [20%] of
the Trust Assets will be prefunded.
Record Date: The last day of the month
preceding any distribution date.
Subordination: Distributions of interest
with respect to the Class B
Certificates will be subordinate to
distributions of interest with
respect to the Class A Certificates.
Similarly, distributions of
principal with respect to the Class
B Certificates will be subordinate
to distributions of principal with
respect to the Class A Certificates.
Spread Account: A special-purpose
affiliate of The Money Store will be
required to establish a reserve
account (the "Spread Account") with
the Trustee. The Spread Account will
not be a part of the Trust Fund but
will be pledged to the Trustee for
the benefit of the
Certificateholders. The initial
deposit currently is estimated to be
[0.50]% of the original pool
principal balance. Thereafter,
excess spread will be deposited
until the Spread Account balance is
the greater of (i) [3.5]%
(estimated) of the current pool
principal balance and (ii) [2.0]% of
the original pool principal balance.
In addition to the above
requirement, additional excess
spread will be deposited up to the
amount of the aggregate balances of
all loans delinquent 180 or more
days.
Monthly Advances: The Servicer will advance
to pay Certificate interest, to the
extent not covered by excess spread.
Servicing Advances: The Servicer will make servicing
advances to the extent it deems such
advances recoverable.
Prepayment Interest Shortfall: The Servicer will pay
compensating interest at the
weighted-average certificate rate
for any prepayment interest
shortfalls, up to the amount of its
servicing compensation for that
month.
Servicing Fee: 40 basis points per annum.
Optional Termination: The Servicer may purchase the trust
assets at par plus accrued interest
thereon on any distribution date on
which the pool principal balance is
less than 10% of the original pool
principal balance.
Tax Status: Grantor Trust.
ERISA Considerations: The Class A Certificates will not be
ERISA eligible.
The Class B Certificates will not be
ERISA eligible.
SMMEA: The Certificates will not be SMMEA
eligible.
Cash Flow Priorities:
1) Servicing Fee
2) Class A Interest
3) Class B Interest
4) Class A Principal
5) Class A Carry Forward
(any previous
principal shortfall)
6) Class B Principal
7) Class B Carry
Forward (any previous
principal shortfall)
8) Trustee Fee
9) After the spread
account target
has been initially been
reached, to pay
Unreimbursed Servicer Advances
10) Build and Replenish Reserves
(Spread Account)
11) Prior to the spread
account target being
reached, to pay Unreimbursed
Servicing Advances
11) Released to TMSIC or an
affiliate thereof
<PAGE>
Description of Transaction
The 7(a) loans pay a floating-rate, prime-based coupon that adjusts quarterly on
the first business day of each calendar quarter. On the loans, interest accrues
from the 1st to the 30th of each month and is due, along with the scheduled
principal payment, on the first day of the following month. The certificates pay
a floating-rate, prime- based coupon that is adjusted on the first business day
of each January, April, July, and October, beginning [January 1998]. Interest on
the certificates is paid on the 15th day of each month and is accrued from the
15th day of the previous month to the 14th day of the current month. For
example, the January 2 prime rate will be used for the certificate interest
accrual periods commencing January 15, February 15 and March 15. Interest
collected on the SBA loans in one month will pay the interest due on the
certificates in the following month. Please see the diagram below for a
description of the interest accrual and collection on the loans and the interest
accrual and payment on the certificates.
ILLUSTRATION OF NOTE ACCRUAL PERIOD VS. CORRESPONDING CERTIFICATE ACCRUAL PERIOD
JAN FEB MAR APR MAY
1--------15--------1--------15--------1--------15--------1--------15--------1
* *
Interest Accrual Interest Collection
SBA Note: ----------------- --------------------
Period Period
Corresponding
Interest Accrual
Certificates: ------------------- **
Period
* The Interest Rate adjusts every Jan. 1, Apr. 1, July 1, Oct. 1
** Certificate payment date
Please note that in February, May, August and November, there may be a mismatch
in the prime rate used to accrue interest on the collateral and the prime rate
used to accrue interest on the certificates. For example, with respect to the
February 15th remittance date, the interest rate due to the investors is based
on the prime rate as of January 2nd; however, the interest collected from the
underlying loans for such remittance date accrued from December 1st to December
30th with a coupon based on the prime rate as of October 1st. Should the prime
rate used to accrue interest on the loans be higher than the prime rate used to
accrue interest on the certificates, excess interest will be collected and will
be passed through on a pro-rata basis to the certificateholders (and vice versa
with lower interest should the accrual rate on the loans be lower than the
accrual rate on the certificates).
<PAGE>
Credit Enhancement
The triple-A rating on the Class A Certificates is supported by several types of
credit enhancement:
* There are approximately [138] basis points (expressed as a percentage
of the aggregate principal balance of the Trust Assets) available from
the guaranteed portions that have been sold into the secondary market.
The guaranteed portions are sold to investors at coupons less than the
gross coupon on the loans. This excess interest will be available for
credit support. See the diagram below.
<TABLE>
<CAPTION>
<S> <C> <C>
STRUCTURAL DIAGRAM OF AN Excess Spread from
SBA 7(a) LOAN COUPON Guaranteed Portion [(1.38%)]] [10.57]% Gross Coupon
Excess Spread Available Servicing
for Unguaranteed Portions __________[0.40%]____________
___________Trustee___________ [10.11]% Net Coupon
[0.06%]
Excess Spread
from Unguaranteed
Guaranteed Bond Coupon Portion
+ SBA Fees
+ Colson Fees [(3.86%)]
+ Retained Portion (1.0%)
(includes 40 bps servicing)
[6.25%] WA PT
__________[6.25%]___________
Bond Coupon SR - [228] bps /Prime Rate
SUB - [228] bps / Prime Rate
(67.82% Guaranteed (32.18% Unguar
Portion) Portion)
</TABLE>
* Also, per the diagram, there is excess spread of approximately [386]
basis points from the coupon received on the unguaranteed portion of
the SBA 7(a) loans over the estimated certificate rate to be paid to
investors in the certificates. The total excess spread that is
available from the guaranteed and unguaranteed portions is thus
approximately [524] basis points.
* There will be a subordinated piece (the Class B Certificates) of
approximately [7]%. In addition, there will be a spread account with an
initial target of [0.5]% of the original pool principal balance,
growing to [3.5]% of the ongoing pool principal balance plus the
balance of all loans with delinquencies greater than 180 days, subject
to a floor of [2.0%] of the original pool balance.
* Any losses will be allocated in the following order:
monthly Excess Spread, the Spread Account, Class B
principal, Class A principal, Class B interest and Class A
interest.
<PAGE>
10% Cleanup Call
* When the outstanding aggregate principal balance of the collateral is
less than 10% of the original pool principal balance, the servicer, at
its option, may purchase the remaining collateral and call the
certificates at par plus accrued interest thereon.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL
ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
Financial Strategies 09/16/97 06:12:23 pm Prudential Securities
Group IMPACT CMO/ABS Analytics -Price/Adj. Marg. Tables Incorporated
Deal ID/CUSIP MONSBA71 Coupon *Cap Flr 0.00
Class A AAA FLT CUR PRIME RT+TBA Accr 0.17278 1st Pmt 10/15/97
Collateral 100%FN (Real) Factor on / /
N/GWAC (Orig) / PRIME RT 8.50000
WAM (Orig) (18.643) Mat N/A Settle 09/25/97
CenterPrice 100-00 Inc 0.5 Table Adjusted Mrg Roll@
**********************TO CALL******************************
<TABLE>
<CAPTION>
Price CPR 8.00 CPR 2.00 CPR 4.00 CPR 6.00 CPR 10.00 CPR 12.00 CPR 14.00
- ------- -------- -------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99-22+ -222.360 -223.896 -223.420 -222.909 -221.773 -221.151 -220.486
99-23 -222.659 -224.113 -223.662 -223.178 -222.102 -221.513 -220.883
99-23 -222.957 -224.330 -223.904 -223.447 -222.431 -221.875 -221.280
99-24 -223.255 -224.547 -224.146 -223.716 -222.760 -222.237 -221.677
99-24+ -223.552 -224.763 -224.388 -223.985 -223.089 -222.598 -222.074
99-25 -223.850 -224.980 -224.630 -224.254 -223.418 -222.960 -222.471
99-25+ -224.148 -225.197 -224.872 -224.522 -223.746 -223.322 -222.868
99-26 -224.446 -225.413 -225.113 -224.791 -224.075 -223.683 -223.264
99-26+ -224.743 -225.630 -225.355 -225.060 -224.404 -224.045 -223.661
99-27 -225.041 -225.846 -225.597 -225.328 -224.732 -224.406 -224.057
99-27+ -225.338 -226.063 -225.838 -225.597 -225.061 -224.767 -224.453
99-28 -225.635 -226.279 -226.080 -225.865 -225.389 -225.128 -224.850
99-28+ -225.933 -226.495 -226.321 -226.134 -225.717 -225.489 -225.246
99-29 -226.230 -226.712 -226.562 -226.402 -226.045 -225.850 -225.642
99-29+ -226.527 -226.928 -226.804 -226.670 -226.373 -226.211 -226.037
99-30 -226.824 -227.144 -227.045 -226.938 -226.701 -226.572 -226.433
99-30+ -227.121 -227.360 -227.286 -227.206 -227.029 -226.932 -226.829
99-31 -227.418 -227.576 -227.527 -227.474 -227.357 -227.293 -227.224
99-31+ -227.715 -227.792 -227.768 -227.742 -227.685 -227.653 -227.620
100-00 -228.011 -228.008 -228.009 -228.010 -228.012 -228.014 -228.015
100-00+ -228.308 -228.224 -228.250 -228.278 -228.340 -228.374 -228.410
100-01 -228.605 -228.440 -228.491 -228.546 -228.667 -228.734 -228.805
100-01+ -228.901 -228.656 -228.732 -228.813 -228.995 -229.094 -229.200
100-02 -229.197 -228.872 -228.973 -229.081 -229.322 -229.454 -229.595
100-02+ -229.494 -229.087 -229.213 -229.349 -229.649 -229.814 -229.990
100-03 -229.790 -229.303 -229.454 -229.616 -229.976 -230.174 -230.385
100-03+ -230.086 -229.519 -229.695 -229.884 -230.304 -230.533 -230.779
100-04 -230.382 -229.734 -229.935 -230.151 -230.630 -230.893 -231.174
100-04+ -230.678 -229.950 -230.176 -230.418 -230.957 -231.253 -231.568
100-05 -230.974 -230.165 -230.416 -230.685 -231.284 -231.612 -231.962
100-05+ -231.270 -230.380 -230.656 -230.953 -231.611 -231.971 -232.357
100-06 -231.566 -230.596 -230.897 -231.220 -231.937 -232.330 -232.751
100-06+ -231.862 -230.811 -231.137 -231.487 -232.264 -232.690 -233.145
100-07 -232.157 -231.026 -231.377 -231.754 -232.590 -233.049 -233.538
100-07+ -232.453 -231.242 -231.617 -232.020 -232.917 -233.407 -233.932
100-08 -232.748 -231.457 -231.857 -232.287 -233.243 -233.766 -234.326
100-08+ -233.044 -231.672 -232.097 -232.554 -233.569 -234.125 -234.719
100-09 -233.339 -231.887 -232.337 -232.821 -233.895 -234.484 -235.113
100-09+ -233.634 -232.102 -232.577 -233.087 -234.221 -234.842 -235.506
Avg. Life 7.091 10.513 9.184 8.054 6.265 5.565 4.961
Mod. Dur. 5.123 7.039 6.308 5.675 4.640 4.219 3.845
1stPmt. 0.056 0.056 0.056 0.056 0.056 0.056 0.056
Last Pmt. 11/15/12 02/15/15 07/15/14 10/15/13 10/15/11 09/15/10 07/15/09
</TABLE>
<PAGE>
********************************TO MATURITY***********************************
<TABLE>
<CAPTION>
Price CPR 8.00 CPR 2.00 CPR 4.00 CPR 6.00 CPR 10.00 CPR 12.00 CPR 14.00
- --------- -------- -------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99-22+ -222.437 -223.930 -223.460 -222.962 -221.885 -221.307 -220.705
99-23 -222.731 -224.145 -223.700 -223.229 -222.208 -221.661 -221.091
99-23+ -223.025 -224.360 -223.940 -223.495 -222.531 -222.015 -221.477
99-24 -223.319 -224.575 -224.180 -223.761 -222.854 -222.368 -221.862
99-24+ -223.612 -224.790 -224.420 -224.027 -223.177 -222.722 -222.247
99-25 -223.906 -225.005 -224.660 -224.293 -223.500 -223.075 -222.633
99-25+ -224.200 -225.220 -224.899 -224.559 -223.823 -223.429 -223.018
99-26 -224.494 -225.435 -225.139 -224.825 -224.146 -223.782 -223.403
99-26+ -224.787 -225.650 -225.378 -225.091 -224.468 -224.135 -223.788
99-27 -225.081 -225.864 -225.618 -225.356 -224.791 -224.488 -224.172
99-27+ -225.374 -226.079 -225.857 -225.622 -225.114 -224.841 -224.557
99-28 -225.667 -226.293 -226.096 -225.888 -225.436 -225.194 -224.942
99-28+ -225.961 -226.508 -226.336 -226.153 -225.758 -225.547 -225.326
99-29 -226.254 -226.722 -226.575 -226.419 -226.081 -225.899 -225.711
99-29+ -226.547 -226.937 -226.814 -226.684 -226.403 -226.252 -226.095
99-30 -226.840 -227.151 -227.053 -226.949 -226.725 -226.605 -226.479
99-30+ -227.133 -227.366 -227.292 -227.215 -227.047 -226.957 -226.863
99-31 -227.426 -227.580 -227.531 -227.480 -227.369 -227.309 -227.247
99-31+ -227.718 -227.794 -227.770 -227.745 -227.691 -227.661 -227.631
100-00 -228.011 -228.008 -228.009 -228.010 -228.012 -228.013 -228.015
100-00+ -228.304 -228.222 -228.248 -228.275 -228.334 -228.365 -228.398
100-01 -228.596 -228.436 -228.487 -228.540 -228.655 -228.717 -228.782
100-01+ -228.889 -228.650 -228.725 -228.805 -228.977 -229.069 -229.165
100-02 -229.181 -228.864 -228.964 -229.070 -229.298 -229.421 -229.548
100-02+ -229.473 -229.078 -229.203 -229.334 -229.620 -229.772 -229.932
100-03 -229.766 -229.292 -229.441 -229.599 -229.941 -230.124 -230.315
100-03+ -230.058 -229.506 -229.680 -229.864 -230.262 -230.475 -230.698
100-04 -230.350 -229.720 -229.918 -230.128 -230.583 -230.827 -231.080
100-04+ -230.642 -229.933 -230.156 -230.393 -230.904 -231.178 -231.463
100-05 -230.934 -230.147 -230.395 -230.657 -231.225 -231.529 -231.846
100-05+ -231.226 -230.361 -230.633 -230.921 -231.545 -231.880 -232.228
100-06 -231.517 -230.574 -230.871 -231.186 -231.866 -232.231 -232.611
100-06+ -231.809 -230.788 -231.109 -231.450 -232.187 -232.582 -232.993
100-07 -232.101 -231.001 -231.347 -231.714 -232.507 -232.932 -233.375
100-07+ -232.392 -231.215 -231.585 -231.978 -232.828 -233.283 -233.757
100-08 -232.684 -231.428 -231.823 -232.242 -233.148 -233.633 -234.139
100-08+ -232.975 -231.641 -232.061 -232.506 -233.468 -233.984 -234.521
100-09 -233.266 -231.854 -232.299 -232.770 -233.788 -234.334 -234.903
100-09+ -233.558 -232.068 -232.536 -233.033 -234.108 -234.684 -235.285
Avg. Life 7.296 10.707 9.363 8.240 6.499 5.823 5.246
Mod. Dur. 5.194 7.098 6.364 5.735 4.725 4.318 3.962
1st Pmt. 0.056 0.056 0.056 0.056 0.056 0.056 0.056
Last Pmt. 21.80 21.80 21.80 21.80 21.80 21.80 21.806
</TABLE>
<PAGE>
******************************** TO CALL ************************************
<TABLE>
<CAPTION>
Price CPR 8.00 CPR 2.00 CPR 4.00 CPR 6.00 CPR 10.00 CPR 12.00 CPR 14.00
- ----- -------- -------- -------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99-22+ -174.244 -175.790 -175.309 -174.795 -173.654 -173.031 -172.366
99-23 -174.548 -176.012 -175.557 -175.070 -173.990 -173.399 -172.769
99-23+ -174.852 -176.235 -175.805 -175.345 -174.325 -173.768 -173.173
99-24 -175.157 -176.457 -176.053 -175.620 -174.660 -174.136 -173.576
99-24+ -175.461 -176.680 -176.301 -175.895 -174.996 -174.504 -173.980
99-25 -175.765 -176.902 -176.549 -176.170 -175.331 -174.873 -174.383
99-25+ -176.069 -177.125 -176.797 -176.445 -175.666 -175.241 -174.786
99-26 -176.373 -177.347 -177.044 -176.720 -176.001 -175.609 -175.189
99-26+ -176.677 -177.569 -177.292 -176.995 -176.336 -175.976 -175.592
99-27 -176.980 -177.791 -177.539 -177.269 -176.671 -176.344 -175.995
99-27+ -177.284 -178.013 -177.787 -177.544 -177.006 -176.712 -176.398
99-28 -177.588 -178.235 -178.034 -177.818 -177.340 -177.079 -176.801
99-28+ -177.891 -178.457 -178.281 -178.093 -177.675 -177.447 -177.203
99-29 -178.194 -178.679 -178.529 -178.367 -178.010 -177.814 -177.605
99-29+ -178.498 -178.901 -178.776 -178.642 -178.344 -178.181 -178.008
99-30 -178.801 -179.123 -179.023 -178.916 -178.678 -178.549 -178.410
99-30+ -179.104 -179.345 -179.270 -179.190 -179.013 -178.916 -178.812
99-31 -179.407 -179.566 -179.517 -179.464 -179.347 -179.283 -179.214
99-31+ -179.710 -179.788 -179.764 -179.738 -179.681 -179.649 -179.616
100-00 -180.013 -180.010 -180.011 -180.012 -180.015 -180.016 -180.018
100-00+ -180.316 -180.231 -180.258 -180.286 -180.349 -180.383 -180.419
100-01 -180.619 -180.453 -180.505 -180.560 -180.682 -180.749 -180.821
100-01+ -180.922 -180.674 -180.751 -180.834 -181.016 -181.116 -181.222
100-02 -181.224 -180.896 -180.998 -181.107 -181.350 -181.482 -181.624
100-02+ -181.527 -181.117 -181.244 -181.381 -181.683 -181.849 -182.025
100-03 -181.829 -181.338 -181.491 -181.654 -182.017 -182.215 -182.426
100-03+ -182.132 -181.560 -181.737 -181.928 -182.350 -182.581 -182.827
100-04 -182.434 -181.781 -181.984 -182.201 -182.683 -182.947 -183.228
100-04+ -182.736 -182.002 -182.230 -182.475 -183.017 -183.313 -183.629
100-05 -183.039 -182.223 -182.476 -182.748 -183.350 -183.678 -184.030
100-05+ -183.341 -182.444 -182.723 -183.021 -183.683 -184.044 -184.430
100-06 -183.643 -182.665 -182.969 -183.294 -184.016 -184.410 -184.831
100-06+ -183.945 -182.886 -183.215 -183.567 -184.348 -184.775 -185.231
100-07 -184.246 -183.107 -183.461 -183.840 -184.681 -185.141 -185.631
100-07+ -184.548 -183.328 -183.707 -184.113 -185.014 -185.506 -186.031
100-08 -184.850 -183.549 -183.953 -184.386 -185.346 -185.871 -186.431
100-08+ -185.152 -183.769 -184.199 -184.659 -185.679 -186.236 -186.831
100-09 -185.453 -183.990 -184.445 -184.932 -186.011 -186.601 -187.231
100-09+ -185.755 -184.211 -184.690 -185.204 -186.344 -186.966 -187.631
Avg. Life 7.091 10.513 9.184 8.054 6.265 5.565 4.961
Mod. Dur. 5.007 6.845 6.144 5.537 4.542 4.136 3.776
1st Pmt. 0.056 0.056 0.056 0.056 0.056 0.056 0.056
Last Pmt. 11/15/12 02/15/15 07/15/14 10/15/13 10/15/11 09/15/10 07/15/09
</TABLE>
<PAGE>
*******************************TO MATURITY*************************************
<TABLE>
<CAPTION>
Price CPR 8.00 CPR 2.00 CPR 4.00 CPR 6.00 CPR 10.00 CPR 12.00 CPR 14.00
- ------ -------- --------- --------- -------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99-22+ -174.317 -175.823 -175.348 -174.846 -173.762 -173.182 -172.578
99-23 -174.617 -176.043 -175.594 -175.119 -174.092 -173.542 -172.970
99-23+ -174.918 -176.264 -175.840 -175.391 -174.422 -173.903 -173.363
99-24 -175.218 -176.485 -176.086 -175.663 -174.751 -174.263 -173.755
99-24+ -175.519 -176.706 -176.332 -175.936 -175.081 -174.624 -174.147
99-25 -175.819 -176.926 -176.577 -176.208 -175.410 -174.984 -174.540
99-25+ -176.119 -177.147 -176.823 -176.480 -175.740 -175.344 -174.932
99-26 -176.419 -177.367 -177.069 -176.752 -176.069 -175.704 -175.323
99-26+ -176.719 -177.588 -177.314 -177.024 -176.399 -176.064 -175.715
99-27 -177.019 -177.808 -177.560 -177.296 -176.728 -176.424 -176.107
99-27+ -177.319 -178.029 -177.805 -177.568 -177.057 -176.783 -176.498
99-28 -177.618 -178.249 -178.050 -177.840 -177.386 -177.143 -176.890
99-28+ -177.918 -178.469 -178.296 -178.112 -177.715 -177.502 -177.281
99-29 -178.218 -178.690 -178.541 -178.383 -178.044 -177.862 -177.672
99-29+ -178.517 -178.910 -178.786 -178.655 -178.372 -178.221 -178.063
99-30 -178.816 -179.130 -179.031 -178.927 -178.701 -178.580 -178.454
99-30+ -179.116 -179.350 -179.276 -179.198 -179.029 -178.939 -178.845
99-31 -179.415 -179.570 -179.521 -179.469 -179.358 -179.298 -179.236
99-31+ -179.714 -179.790 -179.766 -179.741 -179.686 -179.657 -179.627
100-00 -180.013 -180.010 -180.011 -180.012 -180.014 -180.016 -180.017
100-00+ -180.312 -180.230 -180.256 -180.283 -180.343 -180.375 -180.408
100-01 -180.611 -180.449 -180.500 -180.554 -180.671 -180.733 -180.798
100-01+ -180.910 -180.669 -180.745 -180.825 -180.999 -181.092 -181.188
100-02 -181.209 -180.889 -180.990 -181.096 -181.327 -181.450 -181.578
100-02+ -181.507 -181.108 -181.234 -181.367 -181.655 -181.808 -181.968
100-03 -181.806 -181.328 -181.479 -181.638 -181.982 -182.166 -182.358
100-03+ -182.105 -181.548 -181.723 -181.909 -182.310 -182.524 -182.748
100-04 -182.403 -181.767 -181.967 -182.179 -182.637 -182.882 -183.138
100-04+ -182.701 -181.986 -182.212 -182.450 -182.965 -183.240 -183.527
100-05 -183.000 -182.206 -182.456 -182.721 -183.292 -183.598 -183.917
100-05+ -183.298 -182.425 -182.700 -182.991 -183.620 -183.956 -184.306
100-06 -183.596 -182.644 -182.944 -183.262 -183.947 -184.313 -184.695
100-06+ -183.894 -182.864 -183.188 -183.532 -184.274 -184.671 -185.084
100-07 -184.192 -183.083 -183.432 -183.802 -184.601 -185.028 -185.473
100-07+ -184.490 -183.302 -183.676 -184.072 -184.928 -185.385 -185.862
100-08 -184.788 -183.521 -183.920 -184.343 -185.255 -185.743 -186.251
100-08+ -185.085 -183.740 -184.164 -184.613 -185.581 -186.100 -186.639
100-09 -185.383 -183.959 -184.408 -184.883 -185.908 -186.457 -187.028
100-09+ -185.681 -184.178 -184.651 -185.153 -186.235 -186.814 -187.416
Avg. Life 7.296 10.707 9.363 8.240 6.499 5.823 5.246
Mod. Dur. 5.072 6.898 6.196 5.592 4.621 4.228 3.884
1st Pmt. 0.056 0.056 0.056 0.056 0.056 0.056 0.056
Last Pmt. 21.806 21.806 21.806 21.806 21.806 21.806 21.806
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
- - MONEY STORE SBA 7A 1997 - 1
- - Small Business Administration Loans
- - Cutoff Date - 08/31/97
- - $104,615,625.32
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C>
Index: Prime Rate
Number of Mortgage Loans: 894
Aggregate Unpaid Unguaranteed Principal Balance: $104,615,625.32
Average Unpaid Unguaranteed Principal Balance: $117,019.72
Maximum Unpaid Unguaranteed Principal Balance: $846,725.94
Minimum Unpaid Unguaranteed Principal Balance: $6,839.73
Aggregate Original Unguaranteed Principal Balance: $105,550,276.86
Average Original Unguaranteed Principal Balance: $118,065.19
Maximum Original Unguaranteed Principal Balance: $850,080.02
Minimum Original Unguaranteed Principal Balance: $7,000.00
Aggregate Unpaid Principal (Ung+Guar) Balance: $352,757,895.01
Average Unpaid Principal Balance: $394,583.78
Maximum Unpaid Principal Balance: $1,593,837.06
Minimum Unpaid Principal Balance: $34,198.66
Aggregate Original Principal (Ung+Guar) Balance: 356,132,807.00
Aggregate Unpaid Guaranteed Principal Balance: $248,138,667.85
Aggregate Original Guaranteed Principal Balance: $250,582,530.14
Weighted Average Coupon: 10.570%
Gross Coupon Range: 9.500% - 12.250%
Weighted Average Excess Interest on the Guaranteed Portion
Available for the Unguaranteed Portion: 1.388% *scaled to Unguar,
Excess Interest on the Guaranteed Portion Range: 0.000% - 9.000% of retained portion
Weighted Average Months to Maturity: 224.055
Maturity Range: 77 - 300
Weighted Average Age in Months: 3.791
Age Range: 0 - 20
Weighted Average Original Term: 227.846
Original Term Range: 84 - 300
Weighted Average Gross Margin: 2.078%
Gross Margin Range: 1.000% - 3.750%
Weighted Average Guaranteed Percentage: 67.768%
Guaranteed Percentage Range: 36.900% - 80.000%
Weighted Average Unguaranteed Percentage: 32.232%
Unguaranteed Percentage Range: 20.000% - 63.100%
Weighted Average Disc. Orig. LTV: 641.266%
Disc. Orig. LTV Range: 0.000% -24696.430%
Weighted Average Undisc. Orig. LTV: 99.611%
Undisc. Orig. LTV Range: 0.000% - 3000.000%
Weighted Average Debt Service Coverage Ratio: 1.595
Debt Service Coverage Ratio Range: 0.020 - 9.500
Weighted Average Life Floor: 3.237%
Life Floor Range: 1.000% - 6.500%
Weighted Average Life Cap (Gross): 15.457% *excluding 646 capless loans
Life Cap Range: 14.500% - 16.250%
</TABLE>
<PAGE>
GROSS COUPON
<TABLE>
<CAPTION>
WA Max. Orig. Total
Gross # % Rem. WA Balance Current
Coupon Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
9.25% * Gross Coupon * = 9.50% 2 .45 9.500 298.78 1.22 $357,008 $471,772.79
9.50% * Gross Coupon * = 9.75% 5 1.63 9.697 260.49 3.70 $607,122 $1,710,246.68
9.75% * Gross Coupon * = 10.00% 72 10.78 10.000 262.01 3.53 $800,110 $11,273,884.92
10.00% * Gross Coupon * = 10.25% 87 12.85 10.250 240.28 4.31 $780,147 $13,447,223.30
10.25% * Gross Coupon * = 10.50% 263 32.58 10.497 232.03 3.37 $840,156 $34,078,968.60
10.50% * Gross Coupon * = 10.75% 198 19.83 10.750 205.60 4.14 $742,121 $20,744,445.55
10.75% * Gross Coupon * = 11.00% 145 15.48 10.999 216.51 4.19 $850,080 $16,196,920.38
11.00% * Gross Coupon * = 11.25% 120 6.38 11.250 147.94 3.50 $456,109 $6,676,287.54
12.00% * Gross Coupon * = 12.25% 2 .02 12.250 93.65 5.86 $ 9,400 $15,875.56
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
*=LESS THAN
</TABLE>
<TABLE>
<CAPTION>
ORIGINAL MATURITY
WA Max. Orig. Total
Gross # % Rem. WA Balance Current
Coupon Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
80 * Original Maturity * = 90 39 1.48 10.876 80.97 3.03 $158,669 $1,548,425.92
90 * Original Maturity * = 100 33 1.53 10.793 92.05 3.95 $229,000 $1,596,566.00
100 * Original Maturity * = 110 63 3.41 10.767 104.68 3.32 $155,500 $3,568,227.91
110 * Original Maturity * = 120 297 22.28 10.724 116.30 3.70 $749,050 $23,307,791.99
140 * Original Maturity * = 150 6 .39 10.684 139.88 4.12 $93,221 $403,339.72
150 * Original Maturity * = 160 5 1.62 10.564 151.75 4.25 $730,084 $1,694,972.77
160 * Original Maturity * = 170 6 1.20 10.419 162.92 5.08 $800,110 $1,258,245.51
170 * Original Maturity * = 180 19 1.98 10.442 176.93 3.07 $500,000 $2,074,553.89
190 * Original Maturity * = 200 4 .47 10.301 186.78 5.22 $197,500 $491,706.82
200 * Original Maturity * = 210 11 1.39 10.549 200.16 3.84 $375,075 $1,451,855.35
210 * Original Maturity * = 220 14 2.22 10.583 213.05 2.95 $509,014 $2,317,375.19
220 * Original Maturity * = 230 16 2.09 10.679 222.67 5.33 $620,062 $2,187,934.26
230 * Original Maturity * = 240 34 4.05 10.478 236.18 3.82 $597,125 $4,233,245.81
250 * Original Maturity * = 260 21 3.14 10.707 249.08 2.92 $742,121 $3,282,003.75
260 * Original Maturity * = 270 17 2.82 10.500 262.61 1.39 $800,110 $2,952,494.62
270 * Original Maturity * = 280 36 6.14 10.485 273.44 2.56 $840,156 $6,427,479.06
280 * Original Maturity * = 290 34 5.49 10.606 284.24 3.76 $658,099 $5,746,815.53
290 * Original Maturity * = 300 239 38.30 10.463 295.72 4.28 $850,080 $40,072,591.22
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
*=LESS THAN
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REMAINING TERM
- -----------------------------------------------------------------------------------------------------
WA Max. Orig. Total
Remaining # % Rem. WA Loan Current
Term Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
72 * Rem Term * = 84 39 1.48 10.876 80.97 3.03 $158,669 $1,548,425.92
84 * Rem Term * = 96 33 1.53 10.793 92.05 3.95 $229,000 $1,596,566.00
96 * Rem Term * = 108 64 3.43 10.770 104.67 3.38 $155,500 $3,585,020.88
108 * Rem Term * = 120 296 22.26 10.724 116.31 3.69 $749,050 $23,290,999.02
132 * Rem Term * = 144 6 .39 10.684 139.88 4.12 $93,221 $403,339.72
144 * Rem Term * = 156 5 1.62 10.564 151.75 4.25 $730,084 $1,694,972.77
156 * Rem Term * = 168 6 1.20 10.419 162.92 5.08 $800,110 $1,258,245.51
168 * Rem Term * = 180 19 1.98 10.442 176.93 3.07 $500,000 $2,074,553.89
180 * Rem Term * = 192 4 .47 10.301 186.78 5.22 $197,500 $491,706.82
192 * Rem Term * = 204 11 1.39 10.549 200.16 3.84 $375,075 $1,451,855.35
204 * Rem Term * = 216 15 2.28 10.587 212.94 3.37 $509,014 $2,380,597.91
216 * Rem Term * = 228 15 2.03 10.677 223.07 4.93 $620,062 $2,124,711.54
228 * Rem Term * = 240 34 4.05 10.478 236.18 3.82 $597,125 $4,233,245.81
240 * Rem Term * = 252 21 3.14 10.707 249.08 2.92 $742,121 $3,282,003.75
252 * Rem Term * = 264 18 2.92 10.509 262.45 1.94 $800,110 $3,053,335.81
264 * Rem Term * = 276 35 6.05 10.481 273.68 2.32 $840,156 $6,326,637.87
276 * Rem Term * = 288 37 5.79 10.598 284.05 4.56 $658,099 $6,053,237.97
288 * Rem Term * = 30 236 38.01 10.463 295.84 4.16 $850,080 $39,766,168.78
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
*=LESS THAN
</TABLE>
LOAN AGE IN MONTHS (FIRST PAY THRU LAST PAY)
<TABLE>
<CAPTION>
WA Max. Orig. Total
# % Rem. WA Loan Current
Age of Loan Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
0 = Age 84 8.21 10.584 217.95 .00 $800,110 $8,588,837.21
0 * Age * = 12 804 91.32 10.569 224.42 4.05 $850,080 $95,539,508.79
12 * Age * = 24 6 .47 10.588 260.42 19.07 $142,740 $487,279.32
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
*=LESS THAN
</TABLE>
<TABLE>
<CAPTION>
ORIGINATION YEAR
WA Max. Orig. Total
Year of # % Rem. WA Loan Current
Origination Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
1995 4 .35 10.513 268.23 19.46 $142,740 $369,645.16
1996 41 7.34 10.607 253.70 7.94 $800,110 $7,682,844.63
1997 849 92.30 10.568 221.53 3.40 $850,080 $96,563,135.53
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
LAST PAYMENT DATE
Last WA Max. Orig. Total
Pay # % Rem. WA Loan Current
Date Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
06/04/97 2 .14 10.627 249.04 2.25 $112,750 $151,074.76
06/30/97 4 .89 10.653 285.65 2.32 $469,071 $933,596.37
07/03/97 2 .21 10.750 283.13 4.87 $126,250 $216,848.57
07/05/97 1 .76 10.500 264.00 .00 $800,110 $800,001.50
07/07/97 2 .77 10.552 298.17 1.83 $719,075 $801,830.90
07/08/97 1 .06 10.750 209.00 19.00 $64,750 $63,222.72
07/09/97 1 .08 10.500 300.00 .00 $87,500 $87,500.00
07/11/97 1 .47 10.750 294.00 6.00 $496,033 $496,032.60
07/12/97 2 .07 10.938 225.36 2.99 $52,500 $69,776.70
07/15/97 1 .03 11.250 114.00 6.00 $28,000 $27,473.78
07/16/97 1 .15 10.750 104.00 4.00 $155,500 $153,639.24
07/17/97 1 .52 10.500 299.00 1.00 $548,033 $547,984.88
07/20/97 4 .70 10.729 219.36 5.52 $597,125 $728,911.87
07/22/97 1 .11 10.750 115.00 5.00 $125,000 $119,222.18
07/23/97 8 .94 10.289 242.80 4.92 $361,571 $979,526.45
07/24/97 10 .66 10.459 176.13 3.98 $237,500 $687,171.80
07/25/97 2 .28 10.000 296.90 3.10 $183,750 $289,424.04
07/27/97 40 3.85 10.500 206.97 3.88 $727,500 $4,027,047.64
07/28/97 13 2.00 10.731 239.88 3.29 $742,121 $2,092,570.31
07/29/97 13 1.04 10.455 182.87 3.06 $143,750 $1,088,904.44
07/30/97 263 26.84 10.622 218.58 3.12 $850,080 $28,074,040.49
08/01/97 19 2.61 10.331 267.81 2.76 $750,000 $2,727,520.97
08/02/97 31 4.94 10.574 283.71 2.39 $840,156 $5,167,759.22
08/03/97 124 12.04 10.554 198.98 5.04 $633,137 $12,600,175.98
08/04/97 30 4.04 10.339 247.58 3.57 $800,110 $4,223,597.15
08/05/97 12 1.18 10.504 213.97 3.55 $196,750 $1,237,425.24
08/06/97 29 2.94 10.617 214.38 4.49 $450,000 $3,073,604.20
08/07/97 6 .39 10.774 110.66 5.45 $121,750 $405,793.07
08/08/97 7 .57 10.503 237.31 4.63 $152,250 $598,087.56
08/09/97 3 .29 10.401 250.95 5.68 $128,750 $299,089.48
08/10/97 14 1.00 10.594 138.61 5.31 $173,250 $1,043,096.82
08/11/97 6 .71 10.513 259.27 5.93 $301,006 $738,972.21
08/12/97 4 .14 10.636 105.67 3.80 $81,250 $144,248.33
08/13/97 4 .39 10.539 156.47 4.50 $139,500 $408,039.66
08/14/97 4 .91 10.977 269.58 7.58 $750,000 $953,540.54
08/15/97 1 .07 10.250 294.00 6.00 $75,000 $74,994.06
08/17/97 12 2.44 10.404 218.62 3.40 $730,084 $2,550,516.35
08/18/97 4 .30 10.609 158.64 5.59 $107,250 $308,796.51
08/19/97 4 .97 10.220 153.69 4.31 $749,050 $1,011,854.71
08/20/97 6 .87 10.375 259.15 3.81 $500,000 $910,682.12
08/21/97 4 .60 10.389 243.81 4.31 $350,020 $627,178.36
08/22/97 2 .10 10.331 293.00 7.00 $74,000 $108,704.41
08/23/97 1 .71 11.000 297.00 3.00 $745,500 $741,989.85
08/24/97 33 4.05 10.517 194.89 4.20 $650,020 $4,237,289.70
08/25/97 24 1.73 10.633 192.97 4.15 $229,000 $1,812,429.47
08/26/97 19 1.04 10.671 179.22 3.35 $149,700 $1,084,334.52
08/27/97 52 5.64 10.602 227.29 3.74 $780,147 $5,902,245.20
08/28/97 66 8.78 10.660 240.11 4.47 $669,058 $9,187,858.39
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
DISCOUNTED ORIG LTV RANGE
WA Max. Orig Total
Disc. # % Rem WA Loan Current
Orig. LTV Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
LTV = 0.000 14 .43 10.980 105.85 2.84 $62,500 $448,669.40
10.000 * LTV *= 15.000 1 .45 10.750 299.00 1.00 $469,071 $468,395.36
25.000 * LTV *= 30.000 1 .07 10.750 114.00 6.00 $70,500 $68,867.56
30.000 * LTV *= 35.000 1 .12 11.250 296.00 4.00 $130,000 $129,681.78
35.000 * LTV *= 40.000 3 .24 10.417 287.33 3.87 $133,000 $249,224.95
40.000 * LTV *= 45.000 1 .62 10.750 293.00 7.00 $650,020 $645,704.69
45.000 * LTV *= 50.000 1 .03 10.750 113.00 7.00 $27,500 $26,544.75
50.000 * LTV *= 55.000 10 1.73 10.287 200.70 3.27 $568,371 $1,810,994.09
55.000 * LTV *= 60.000 8 1.09 10.514 275.97 4.97 $301,006 $1,135,273.20
60.000 * LTV *= 65.000 8 1.22 10.523 273.11 .80 $800,110 $1,275,496.84
65.000 * LTV *= 70.000 17 2.89 10.601 287.39 3.86 $727,500 $3,018,169.59
70.000 * LTV *= 75.000 20 2.90 10.708 284.40 4.80 $745,500 $3,029,873.62
75.000 * LTV *= 80.000 35 6.75 10.494 287.91 3.82 $850,080 $7,065,124.69
80.000 * LTV *= 85.000 33 7.05 10.675 286.82 4.73 $760,134 $7,373,061.38
85.000 * LTV *= 90.000 43 6.74 10.302 286.28 3.95 $786,125 $7,053,649.60
90.000 * LTV *= 95.000 47 9.38 10.582 282.20 3.68 $750,000 $9,818,034.07
95.000 * LTV *= 100.000 86 10.57 10.315 280.77 3.27 $800,110 $11,054,219.59
100.000* LTV *= 120.000 55 6.68 10.471 276.81 3.23 $840,156 $6,989,777.59
120.000* LTV *= 140.000 28 3.51 10.568 234.75 4.40 $620,062 $3,672,130.99
140.000* LTV *= 160.000 21 2.47 10.707 208.68 3.12 $509,014 $2,589,192.25
160.000* LTV *= 180.000 11 1.86 10.475 222.10 4.21 $597,125 $1,950,039.07
180.000* LTV *= 200.000 9 .63 10.543 190.56 2.69 $172,750 $654,467.91
200.000* LTV *= 220.000 10 1.18 10.534 178.39 3.45 $375,075 $1,234,498.36
220.000* LTV *= 240.000 9 .84 10.561 155.20 3.75 $255,115 $878,925.85
240.000* LTV *= 260.000 8 .67 10.733 165.25 3.75 $149,250 $701,019.21
260.000* LTV *= 280.000 8 .63 10.552 144.16 5.57 $197,500 $658,731.59
280.000* LTV *= 300.000 10 .74 10.648 159.09 3.40 $143,750 $771,944.93
300.000* LTV 396 28.53 10.721 119.29 3.83 $800,110 $29,843,912.41
- -------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
===================================================================================================================
*=lESS THAN
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
UNDISCOUNTED ORIG LTV RANGE
- --------------------------------------------------------------------------------------------
WA Max. Orig Total
Undisc. # % Rem WA Loan Current
Orig. LTV Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
LTV = 0.000 2 .03 11.250 81.48 2.52 $15,400 $28,962.63
0.000* LTV* = 5.000 1 .02 11.000 298.00 2.00 $26,000 $26,000.00
5.000* LTV* = 10.000 8 .58 10.648 203.78 4.52 $210,000 $609,252.64
10.000* LTV* = 15.000 12 1.49 10.519 275.29 3.51 $469,071 $1,561,303.61
15.000* LTV* = 20.000 21 1.65 10.684 230.65 3.69 $480,069 $1,726,640.51
20.000* LTV* = 25.000 24 1.54 10.375 232.46 3.89 $150,000 $1,613,433.97
25.000* LTV* = 30.000 43 4.45 10.547 261.18 4.43 $650,020 $4,658,641.35
30.000* LTV* = 35.000 47 4.65 10.523 260.70 3.54 $800,110 $4,865,017.01
35.000* LTV* = 40.000 55 5.45 10.498 243.09 3.78 $727,500 $5,703,685.91
40.000* LTV* = 45.000 50 6.82 10.508 248.66 3.33 $591,185 $7,132,564.24
45.000* LTV* = 50.000 46 5.90 10.443 250.45 4.63 $750,000 $6,173,273.17
50.000* LTV* = 55.000 39 5.95 10.461 255.85 3.31 $840,156 $6,220,540.25
55.000* LTV* = 60.000 32 4.48 10.645 251.87 4.58 $660,021 $4,690,219.05
60.000* LTV* = 65.000 40 5.17 10.560 239.71 4.06 $800,110 $5,410,214.48
65.000* LTV* = 70.000 32 3.25 10.617 240.47 3.71 $650,020 $3,395,597.60
70.000* LTV* = 75.000 46 9.50 10.610 274.58 3.68 $850,080 $9,938,933.22
75.000* LTV* = 80.000 31 3.96 10.494 218.15 4.81 $669,058 $4,146,268.62
80.000* LTV* = 85.000 29 4.15 10.541 255.18 3.75 $750,000 $4,339,140.47
85.000* LTV* = 90.000 27 4.15 10.357 254.48 3.67 $800,110 $4,341,106.33
90.000* LTV* = 95.000 17 1.91 10.622 220.77 1.72 $531,103 $1,996,643.35
95.000* LTV* = 100,000 16 1.67 10.578 175.55 4.06 $500,000 $1,752,224.00
100.000* LTV* = 120..000 63 5.83 10.714 178.94 4.33 $620,062 $6,096,513.64
120.000* LTV* = 140.000 34 3.56 10.750 138.95 3.47 $633,137 $3,720,445.89
140.000* LTV* = 160.000 20 1.43 10.769 139.91 2.70 $150,000 $1,499,966.58
160.000* LTV* = 180.000 14 .99 10.640 116.13 2.09 $212,750 $1,040,407.66
180.000* LTV* = 200.000 25 2.57 10.791 142.46 3.96 $450,000 $2,686,738.45
200.000* LTV* = 220.000 20 1.38 10.752 131.22 4.10 $151,250 $1,441,798.26
220.000* LTV* = 240.000 14 .75 10.541 124.89 4.41 $197,500 $789,600.84
240.000* LTV* = 260.000 9 .85 10.738 137.42 2.51 $243,750 $890,223.99
260.000* LTV* = 280.000 5 .39 10.918 110.19 4.09 $205,750 $413,005.77
280.000* LTV* = 300.000 3 .16 10.618 108.81 2.71 $71,750 $163,247.18
300.000* LTV 69 5.30 10.599 114.74 3.25 $749,050 $5,544,014.65
- ---------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
=====================================================================================================================
*=LESS THAN
</TABLE>
<TABLE>
<CAPTION>
GROSS MARGIN
- --------------------------------------------------------------------------------------------
WA Max. Orig Total
Gross # % Rem WA Loan Current
Margin Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
0.75% * Gross Margin* = 1.00% 1 .11 9.500 295.00 5.00 $115,250 $114,765.29
1.00% * Gross Margin* = 1.25% 5 1.50 9.635 295.34 3.72 $607,122 $1,569,301.37
1.25% * Gross Margin* = 1.50% 73 11.25 9.989 258.50 3.42 $800,110 $11,771,837.73
1.50% * Gross Margin* = 1.75% 85 12.71 10.250 240.55 4.35 $780,147 $13,298,684.97
1.75% * Gross Margin* = 2.00% 260 31.03 10.496 230.69 3.53 $840,156 $32,461,279.71
2.00% * Gross Margin* = 2.25% 202 21.45 10.730 209.78 3.83 $800,110 $22,440,672.77
2.25% * Gross Margin* = 2.50% 144 15.35 10.998 215.66 4.23 $850,080 $16,060,170.38
2.50% * Gross Margin* = 2.75% 122 6.58 11.242 150.99 3.39 $456,109 $6,883,037.54
3.50% * Gross Margin* = 3.75% 2 .02 12.250 93.65 5.86 $9,400 $15,875.56
- -----------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
=======================================================================================================================
*=LESS THAN
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Gross Life Cap
- --------------------------------------------------------------------------------------------
WA Max. Orig Total
Gross # % Rem WA Loan Current
Life Cap Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Capless 646 64.44 10.584 207.04 3.65 $850,080 67,409,849.28
14.25% * Gross Life Cap* = 14.50 1 .35 9.750 295.00 5.00 $365,918 $364,436.04
14.50% * Gross Life Cap* = 14.75 6 1.35 9.714 297.11 2.89 $607,122 $1,415,072.65
14.75% * Gross Life Cap* = 15.00 26 4.28 10.122 263.45 4.91 $800,110 $4,476,346.00
15.00% * Gross Life Cap* = 15.25 44 6.48 10.405 261.33 5.23 $800,110 $6,777,567.85
15.25% * Gross Life Cap* = 15.50 70 12.01 10.589 247.84 3.41 $786,125 $12,561,658.60
15.50% * Gross Life Cap* = 15.75 60 8.03 10.786 255.82 3.85 $800,110 $8,402,600.80
15.75% * Gross Life Cap* = 16.00 28 2.50 11.067 240.20 3.88 $658,099 $2,617,270.09
16.00% * Gross Life Cap* = 16.25 13 .56 11.250 191.86 3.08 $67,250 $590,824.01
- ------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
==================================================================================================================
*=LESS THAN
</TABLE>
<TABLE>
<CAPTION>
Gross Life Floor
- ------------------------------------------------------------------------------------------------------
WA Max. Orig Total
Gross # % Rem WA Loan Current
Life Floor Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
0.00%* =Life Floor* = 1.00% 1 .11 9.500 295.00 5.00 $115,250 $114,765.29
1.00%* Life Floor* = 1.50% 61 8.86 9.978 249.76 3.39 $750,000 $9,267,444.57
1.50%* Life Floor* = 2.00% 238 27.49 10.422 220.62 3.78 $840,156 $28,757,846.01
2.00%* Life Floor* = 2.50% 248 22.62 10.867 189.44 3.74 $850,080 $23,662,663.24
2.50%* Life Floor* = 3.00% 96 5.34 11.241 139.37 3.05 $456,109 $5,591,254.61
3.50%* Life Floor* = 4.00% 2 .02 12.250 93.65 5.86 $9,400 $15,875.56
4.00%* Life Floor* = 4.25% 2 .92 9.579 298.12 1.88 $607,122 $960,441.73
4.25%* Life Floor* = 4.50% 7 1.37 9.937 285.63 3.48 $365,918 $1,435,337.32
4.50%* Life Floor* = 4.75% 14 2.42 10.205 287.59 3.86 $780,147 $2,535,316.42
4.75%* Life Floor* = 5.00% 37 5.90 10.321 257.36 3.74 $800,110 $6,169,282.29
5.00%* Life Floor* = 5.25% 53 7.23 10.522 251.59 4.28 $800,110 $7,565,215.36
5.25%* Life Floor* = 5.50% 57 10.21 10.671 245.36 3.53 $786,125 $10,676,868.15
5.50%* Life Floor* = 5.75% 42 4.70 10.836 248.15 4.35 $750,000 $4,920,412.23
5.75%* Life Floor* = 6.00% 23 1.97 11.046 246.30 6.77 $760,134 $2,060,311.69
6.00%* Life Floor* = 6.25% 11 .71 11.066 239.44 6.08 $120,250 $745,871.52
6.25%* Life Floor* = 6.50% 2 .13 11.057 293.90 6.10 $105,600 $136,719.33
- ------------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
=========================================================================================================================
*=LESS THAN
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL UNGUARANTEED MORTGAGE AMOUNT
- ------------------------------------------------------------------------------------------------------
WA Max. Orig Total
Orig. Unguar. # % Rem WA Loan Current
Mortgage Amt. Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Balance* = 25,000 55 .87 11.093 136.76 3.83 $20,000 $912,128.96
25,000* Balance* = 50,000 234 8.23 10.796 161.26 3.87 $50,000 $8,608,724.41
50,000* Balance* = 75,000 164 9.63 10.669 184.12 3.28 $75,000 $10,069,294.98
75,000* Balance* = 100,000 126 10.36 10.612 184.86 3.77 $100,000 $10,839,763.59
100,000* Balance* = 150,000 157 18.07 10.516 217.28 3.88 $150,000 $18,907,215.53
150,000* Balance* = 207,000 61 10.23 10.472 244.00 3.98 $205,750 $10,702,517.78
207,000* Balance* = 250,000 22 4.77 10.490 221.03 3.34 $250,000 $4,988,694.07
250,000* Balance* = 300,000 7 1.74 10.574 254.07 2.44 $273,039 $1,818,527.28
300,000* Balance* = 350,000 4 1.24 10.416 260.42 5.93 $350,000 $1,298,415.70
350,000* Balance* = 400,000 9 3.09 10.251 282.13 4.10 $375,075 $3,235,528.06
400,000* Balance* = 450,000 5 2.01 10.606 227.44 3.83 $450,000 $2,097,570.05
450,000* Balance* = 500,000 13 5.96 10.571 243.95 3.56 $500,000 $6,231,675.28
500,000* Balance* = 600,000 10 5.34 10.672 260.33 2.54 $597,125 $5,587,867.42
600,000* Balance* = 750,000 19 12.36 10.527 259.96 4.55 $750,000 $12,927,042.63
750,000* Balance* =1,000,000 8 6.11 10.532 269.32 3.85 $850,080 $6,390,659.58
- -------------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
=========================================================================================================================
*=LESS THAN
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CURRENT UNGUARANTEED MORTGAGE AMOUNT
- ------------------------------------------------------------------------------------------------------
WA Max. Orig Total
Current Unguar. # % Rem WA Loan Current
Mortgage Amt. Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Balance* = 25,000 61 1.01 11.080 131.97 4.06 $26,015 $1,060,563.37
25,000* Balance* = 50,000 231 8.23 10.791 161.46 3.89 $62,250 $8,607,644.74
50,000* Balance* = 75,000 170 10.12 10.655 183.53 3.33 $78,000 $10,588,600.31
75,000* Balance* = 100,000 120 10.01 10.625 184.15 3.77 $103,000 $10,470,340.86
100,000 * Balance* = 150,000 156 18.07 10.519 217.19 3.87 $158,669 $18,907,702.94
150,000 * Balance* = 200,000 56 9.36 10.455 245.34 4.03 $229,000 $9,789,824.45
200,000 * Balance* = 250,000 26 5.59 10.475 224.35 3.14 $251,051 $5,853,228.73
250,000 * Balance* = 300,000 6 1.50 10.665 275.55 2.67 $273,039 $1,568,961.20
300,000 * Balance* = 350,000 6 1.91 10.358 272.14 5.95 $350,020 $1,994,275.76
350,000 * Balance* = 400,000 9 3.18 10.311 259.10 3.44 $400,085 $3,331,515.68
400,000 * Balance* = 450,000 3 1.25 10.668 246.69 4.35 $450,000 $1,305,722.37
450,000 * Balance* = 500,000 13 5.96 10.571 243.95 3.56 $500,000 $6,231,675.28
500,000 * Balance* = 600,000 11 5.91 10.607 263.68 2.78 $600,075 $6,186,218.34
600,000 * Balance* = 750,000 18 11.78 10.553 258.26 4.52 $750,000 $12,328,691.71
750,000 * Balance* =1,000,000 8 6.11 10.532 269.32 3.85 $850,080 $6,390,659.58
- ----------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
========================================================================================================================
*=LESS THAN
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
GEOGRAPHIC DISTRIBUTION
- --------------------------------------------------------------------------------------------------------------
WA WA Min. Curr Max. Curr Total Avg.
# % Rem WA MIN MAX Orig Loan Loan Current Curr
State Loans Pool WAC Term Age AGE AGE LTV Amount Amount Balance Bal
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AK 1 .52 11.000 298.00 2.00 2.00 2.00 .00 $542,338 $542,338 $542,338 $542,338
AL 9 .54 10.849 206.84 5.16 .00 9.00 .00 $9,036 $179,709 $563,788 $62,643
AR 5 .69 10.516 268.50 1.24 .00 6.00 .00 $25,666 $531,000 $722,236 $144,447
AZ 67 7.87 10.406 213.59 3.91 .00 19.00 .00 $14,369 $725,830 $8,237,729 $122,951
CA 218 23.36 10.468 219.66 3.89 .00 20.00 .00 $6,840 $840,013 $24,443,022 $112,124
CO 48 4.42 10.600 242.77 4.75 .00 20.00 .00 $9,689 $496,033 $4,626,807 $96,392
CT 6 .33 10.393 239.82 2.79 2.00 6.00 .00 $17,902 $125,000 $343,413 $57,236
DC 3 .61 11.026 116.91 3.09 2.00 7.00 .00 $41,633 $492,687 $641,500 $213,833
DE 1 .09 11.000 177.00 3.00 3.00 3.00 .00 $97,992 $97,992 $97,992 $97,992
FL 52 4.52 10.684 199.72 4.41 .00 8.00 .00 $17,600 $614,431 $4,730,722 $90,975
GA 11 2.36 10.486 188.46 3.65 .00 8.00 .00 $28,053 $722,786 $2,464,527 $224,048
HI 6 .30 10.870 183.57 4.14 2.00 6.00 .00 $18,252 $81,500 $312,981 $52,163
IA 1 .48 9.750 179.00 1.00 1.00 1.00 .00 $497,953 $497,953 $497,953 $497,953
ID 15 1.17 10.583 241.39 3.88 .00 7.00 .00 $18,456 $264,476 $1,222,244 $81,483
IL 22 2.65 10.507 205.60 2.62 .00 8.00 .00 $35,340 $498,882 $2,772,588 $126,027
IN 8 .45 10.635 266.44 4.68 2.00 7.00 .00 $16,946 $172,263 $470,150 $58,769
KS 3 .11 10.809 176.48 2.54 1.00 4.00 .00 $13,975 $56,486 $119,364 $39,788
KY 14 1.42 10.659 189.32 4.33 .00 7.00 .00 $32,972 $443,937 $1,489,830 $106,416
LA 3 .16 10.983 116.09 3.91 3.00 7.00 .00 $25,892 $92,296 $169,975 $56,658
MA 2 .34 10.851 172.35 5.11 .00 6.00 .00 $53,125 $303,413 $356,538 $178,269
MD 23 2.21 10.784 204.55 3.44 .00 7.00 .00 $29,860 $647,514 $2,311,727 $100,510
ME 3 .16 10.724 140.69 .62 .00 1.00 .00 $43,432 $64,000 $168,466 $56,155
MI 10 1.55 10.690 234.03 5.52 2.00 8.00 .00 $17,423 $580,184 $1,619,646 $161,965
MN 22 1.29 10.569 161.29 3.17 .00 7.00 .00 $18,835 $216,792 $1,346,616 $61,210
MO 6 .28 10.752 147.21 5.18 4.00 7.00 .00 $19,331 $102,824 $294,451 $49,075
MS 2 .10 10.825 106.50 1.50 .00 5.00 .00 $31,009 $72,500 $103,509 $51,755
MT 3 .17 10.552 207.29 3.28 1.00 6.00 .00 $38,191 $74,425 $182,033 $60,678
NC 21 3.78 10.560 261.24 2.91 .00 8.00 .00 $28,889 $800,002 $3,952,825 $188,230
NE 3 .91 10.216 270.45 .89 .00 4.00 .00 $24,536 $750,000 $948,786 $316,262
NH 1 .03 11.000 102.00 6.00 6.00 6.00 .00 $33,803 $33,803 $33,803 $33,803
NJ 19 2.35 10.547 204.11 4.13 .00 7.00 .00 $25,396 $784,839 $2,455,785 $129,252
NM 4 .34 10.275 201.78 3.32 1.00 6.00 .00 $63,069 $116,791 $355,584 $88,896
NY 27 2.38 10.579 237.00 5.19 1.00 17.00 .00 $13,764 $347,790 $2,486,088 $92,077
OH 21 4.08 10.802 255.91 4.12 .00 8.00 .00 $14,988 $846,726 $4,264,750 $203,083
OK 10 .86 10.500 196.47 3.68 .00 7.00 .00 $17,988 $191,221 $901,651 $90,165
OR 21 2.53 10.636 255.33 4.47 1.00 8.00 .00 $26,000 $587,548 $2,644,336 $125,921
PA 25 2.28 10.691 197.02 2.34 .00 7.00 .00 $25,058 $272,772 $2,388,814 $95,553
RI 1 .07 10.250 115.00 5.00 5.00 5.00 .00 $72,690 $72,690 $72,690 $72,690
SC 9 1.22 10.705 259.20 3.66 1.00 5.00 .00 $38,250 $432,282 $1,273,680 $141,520
SD 1 .69 10.500 298.00 2.00 2.00 2.00 .00 $725,939 $725,939 $725,939 $725,939
TN 4 1.05 10.512 156.76 5.71 2.00 7.00 .00 $25,356 $614,894 $1,102,008 $275,502
TX 74 9.24 10.563 251.88 3.24 .00 8.00 .00 $19,535 $750,000 $9,670,714 $130,685
UT 5 .28 10.614 131.58 2.19 .00 7.00 .00 $18,714 $96,250 $292,233 $58,447
VA 26 2.30 .693 204.94 4.64 .00 7.00 .00 $13,800 $604,074 $2,408,595 $92,638
VT 1 .43 10.500 248.00 4.00 4.00 4.00 .00 $452,545 $452,545 $452,545 $452,545
WA 40 4.87 10.609 237.69 3.16 .00 8.00 .00 $14,972 $506,351 $5,093,734 $127,343
WI 13 1.91 10.929 249.32 5.39 .00 8.00 .00 $27,250 $756,464 $1,993,857 $153,374
WV 3 .20 10.786 173.46 3.99 2.00 6.00 .00 $60,116 $91,734 $214,119 $71,373
WY 1 .03 11.250 115.00 5.00 5.00 5.00 .00 $30,948 $30,948 $30,948 $30,948
- ------------------------------------------------------------------------------------------------------------------
Total 894 100.00% 10.570 224.06 3.79 .00 20.00 .00 $6,840 $846,726 $104,615,625 $117,020
=====================================================================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE
PROSPECTUS SUPPLEMENT.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Excess Int. Avail. for Unguar. Portion
Scaled to the Unguar. Portion
- --------------------------------------------------------------------------------------------
Excess WA Max. Orig Total
on Guar # % Rem WA Loan Current
Portion Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Excess on Guar = 0.00 78 12.81 9.952 263.02 3.29 $800,110 $13,404,355.07
.0000* Excess on Guar*= .50 19 10.15 10.374 241.54 3.99 $840,156 $10,620,821.95
.5000* Excess on Guar*= 1.00 102 20.83 10.517 260.29 4.20 $850,080 $21,791,914.40
1.0000* Excess on Guar*= 1.50 247 26.32 10.575 225.96 3.69 $660,021 $27,536,837.23
1.5000* Excess on Guar*= 2.00 13 2.03 10.906 236.78 5.99 $500,000 $2,122,380.14
2.0000* Excess on Guar*= 2.50 174 13.75 10.771 185.97 3.44 $456,109 $14,389,738.71
2.5000* Excess on Guar*= 3.00 131 7.89 10.989 163.79 3.76 $243,750 $8,252,740.92
3.0000* Excess on Guar*= 3.50 2 .14 11.052 290.32 9.68 $120,250 $150,987.10
3.5000* Excess on Guar*= 4.00 92 5.50 11.245 139.34 3.47 $250,000 $5,748,956.01
4.0000* Excess on Guar*= 4.50 1 .02 11.000 115.00 5.00 $20,000 $19,517.91
4.5000* Excess on Guar*= 5.00 33 .54 11.250 133.75 3.94 $20,000 $561,500.32
8.5000* Excess on Guar*= 9.00 2 .02 12.250 93.65 5.86 $9,400 $15,875.56
- ------------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
=========================================================================================================================
*=LESS THAN
</TABLE>
<TABLE>
<CAPTION>
Guaranteed Percent RANGE
- --------------------------------------------------------------------------------------------
WA Max. Orig Total
Guar. # % Rem WA Loan Current
Percent Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
0.000* Guaranteed %* = 50.00 16 10.64 10.564 270.06 3.79 $850,080 $11,131,290.58
50.000* Guaranteed %* = 55.00 14 8.50 10.640 245.24 4.39 $749,050 $8,887,660.90
55.000* Guaranteed %* = 60.00 10 5.45 10.446 279.29 3.37 $607,122 $5,700,556.67
60.000* Guaranteed %* = 65.00 20 8.15 10.547 247.83 3.72 $500,000 $8,528,081.54
65.000* Guaranteed %* = 70.00 20 4.60 10.368 258.00 5.31 $400,085 $4,812,969.60
70.000* Guaranteed %* = 75.00 759 61.79 10.584 203.92 3.64 $309,016 $64,642,937.07
75.000* Guaranteed %* = 80.00 55 .87 11.093 136.76 3.83 $20,000 $912,128.96
- --------------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
=========================================================================================================================
*=LESS THAN
</TABLE>
<TABLE>
<CAPTION>
DEBT SERVICE COVERAGE RATIO RANGE
- --------------------------------------------------------------------------------------------
WA Max. Orig Total
DSCR # % Rem WA Loan Current
RANGE Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
DSCR* = 0.000 25 1.57 10.756 185.37 3.35 $189,500 $1,643,766.85
0.000* DSCR* = 0.500 43 4.19 10.603 213.71 3.51 $840,156 $4,384,696.50
0.500* DSCR* = 1.000 77 7.32 10.626 222.59 4.25 $750,000 $7,656,750.82
1.000* DSCR* = 1.500 383 48.65 10.530 234.10 3.86 $850,080 $50,900,264.21
1.500* DSCR* = 2.000 186 22.29 10.633 221.08 3.22 $800,110 $23,318,490.67
2.000* DSCR* = 2.500 85 8.74 10.544 207.57 4.63 $760,134 $9,147,349.90
2.500* DSCR* = 3.000 42 3.05 10.509 221.59 3.76 $780,147 $3,192,090.76
3.000* DSCR* = 4.000 32 2.32 10.573 208.22 4.17 $361,571 $2,431,602.20
4.000* DSCR* = 5.000 9 1.03 10.783 132.43 4.20 $500,000 $1,078,375.90
5.000* DSCR* = 6.000 6 .41 10.468 180.61 3.70 $130,750 $430,519.24
6.000* DSCR* = 7.000 1 .10 10.000 239.00 1.00 $104,000 $103,862.89
7.000* DSCR* = 8.000 2 .08 11.087 180.66 1.73 $56,500 $86,473.36
8.000* DSCR* = 9.000 1 .18 10.500 237.00 3.00 $188,000 $187,298.91
9.000* DSCR* =10.000 2 .05 11.090 88.30 3.36 $35,250 $54,083.11
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
=============================================================================================================
*=LESS THAN
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INDUSTRY CODE
- ------------------------------------------------------------------------------------------------------
WA Max. Orig Total
# % Rem WA Loan Current
Industry Code Loan Pool WAC Term Age Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Agricultural Services 38 3.20 10.502 218.13 3.17 $212,750 $3,342,736.40
Amusement, Recreation Ser 9 .75 10.637 173.71 4.11 $240,000 $784,753.03
Amusement and Recreation 1 .02 11.250 94.00 2.00 $20,000 $19,738.38
Auto Repair, Services & Pa 3 .21 10.585 284.23 7.66 $93,300 $224,637.89
Construction Highway 2 .23 10.132 296.53 3.47 $175,000 $237,216.12
Construction Htg, Plumb 19 1.66 10.736 177.63 3.66 $250,000 $1,740,408.21
Construction Non-reside 1 .12 10.500 235.00 5.00 $130,750 $130,637.04
Construction - Residentia 1 .03 10.750 297.00 3.00 $32,000 $31,896.58
Finance, Insurance, Real 3 .30 10.238 263.45 4.34 $185,000 $315,725.00
Health Services 124 8.17 10.691 147.29 3.73 $800,110 $8,544,511.46
Hotels & Motels 50 22.26 10.622 281.56 3.72 $850,080 $23,289,608.12
Hotels and other Lodging 1 .07 10.500 297.00 3.00 $88,000 $75,292.95
Insurance Agents, Brokers 4 .60 10.472 249.43 2.69 $429,574 $622,785.95
Legal Services 11 .92 10.376 279.56 3.52 $189,500 $966,435.71
Manu - Apparel and other 1 .34 10.500 293.00 7.00 $361,571 $359,137.81
Manufacturing - Chemical 17 1.92 10.570 239.88 3.18 $248,515 $2,007,454.08
Manufacturing - Electroni 2 .31 10.340 191.19 5.72 $210,675 $327,282.42
Manufacturing - Food, Bvg 3 .16 10.642 234.42 3.47 $75,500 $171,586.95
Manufacturing - Industrial 5 .58 10.534 227.62 4.82 $198,000 $610,395.62
Manufacturing - Lumber & 16 1.96 10.565 227.69 3.85 $500,000 $2,053,671.24
Manufacturing - Textile 5 1.29 10.267 233.33 4.19 $780,147 $1,349,418.07
Manufacturing - Transport 6 2.33 10.434 243.27 2.69 $800,110 $2,434,970.84
Motion Picture 2 .16 10.344 220.71 4.00 $107,250 $169,054.79
Office/Clinics - Dentist 144 12.12 10.473 166.40 3.86 $500,000 $12,678,650.88
Office/Clinics - Doctor 19 2.90 10.429 247.87 2.64 $840,156 $3,028,639.11
Public Transportation & U 14 1.23 10.662 221.66 2.58 $238,750 $1,290,517.29
Real Estate Operators & L 5 .40 10.475 258.23 3.32 $186,750 $421,482.01
Retail - Alcholic Beverage 6 .92 10.882 224.15 4.01 $480,069 $957,658.18
Retail - Apparel,Acess,Fu 17 2.13 10.339 231.60 4.05 $607,122 $2,228,386.41
Retail - Auto Dlrs & Serv 1 .07 10.750 292.00 8.00 $74,700 $74,236.62
Retail - Automobile 13 1.33 10.356 247.02 3.83 $229,000 $1,392,633.86
Retail - Boat, RV, M'cycl 3 .55 10.323 254.86 4.10 $350,020 $571,172.75
Retail - Eating and Drink 1 .04 11.000 268.00 8.00 $46,500 $46,381.01
Retail - Gasoline Svc Stn 11 1.59 10.767 239.61 3.56 $509,014 $1,659,306.38
Retail - Miscellaneous 35 3.09 10.720 215.20 4.51 $620,062 $3,237,081.66
Retail - Personal & House 29 3.18 10.612 208.81 4.22 $633,137 $3,321,821.19
Retail - Prepared Food & 102 7.52 10.736 178.07 4.24 $597,125 $7,862,609.62
Services - Auto Repair 50 3.73 10.636 239.05 3.70 $241,500 $3,899,742.15
Services - Business 35 3.49 10.364 231.45 4.49 $600,075 $3,649,989.65
Services - Educ & Soc 8 .85 10.864 280.87 3.61 $265,017 $887,523.56
Services - Misc Repair 5 .41 10.556 252.94 3.95 $221,500 $431,975.29
Services - Museums, Bus & 18 1.24 10.447 257.68 3.43 $146,000 $1,301,344.55
Services - Personal 22 1.39 10.485 222.31 4.56 $224,500 $1,449,861.03
Wholesale - Durable Goods 17 2.37 10.469 226.65 3.59 $500,000 $2,479,123.83
Wholesale - Non-Durable G 13 1.73 10.438 227.59 3.09 $450,000 $1,814,339.94
Wholesale Parts & Tires 2 .12 10.650 290.15 5.65 $79,500 $121,793.69
- ----------------------------------------------------------------------------------------------------------------------------------
Total..... 894 100.00% 10.570 224.06 3.79 $850,080 $104,615,625.32
============================================================================================
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
THIS STRUCTURAL TERMSHEET SUPERSEDES ANY PREVIOUS STRUCTURAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE STRUCTURAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
</TABLE>
