<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report: April 16, 1998
(Date of earliest event reported)
Commission File No. 333-20675
EQCC Receivables Corporation
EQCC Asset Backed Corporation
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59-3170055
Delaware 59-3170052
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(State of Incorporation) (I.R.S. Employer Identification No.)
100401 Deerwood Park Boulevard
Jacksonville, Florida 32256
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(Address of principal executive offices) (Zip Code)
(904)987-5000
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(Registrant's Telephone Number, including area code)
N/A
---------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since
last report)
<PAGE> 2
ITEM 5. Other Events
Attached as an exhibit are the Computational Materials (as defined in
the no-action letter dated May 21, 1994 issued by the Securities and Exchange
Commission to Kidder, Peabody Acceptance Corporation-I, Kidder, Peabody & Co.
Incorporated and Kidder Structured Asset Corporation (the "Kidder Letter"))
prepared by NationsBanc Montgomery Securities LLC, which are hereby filed
pursuant to such letter.
-2-
<PAGE> 3
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 hereunto duly authorized.
EQCC RECEIVABLES CORPORATION
April 16, 1998
By: /s/ James B. Dodd
-------------------------
Name: James B. Dodd
Title: Vice President
EQCC ASSET BACKED CORPORATION
April 16, 1998
By: /s/ James B. Dodd
-------------------------
Name: James B. Dodd
Title: Vice President
-3-
<PAGE> 4
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
- ----------- ----------- --------------
(99) Computational Materials prepared E
by NationsBanc Montgomery Securities
LLC in connection with EQCC Home
Equity Loan Asset Backed Certificates,
Series 1998-1
-4-
<PAGE> 1
NATIONSBANC MONTGOMERY SECURITIES
NationsBanc Montgomery Securities LLC
NATIONSBANK
- --------------------------------------------------------------------------------
RMBS NEW ISSUE TERM SHEET
EQCC HOME EQUITY LOAN TRUST
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES
SERIES 1998-1
CLASSES A-1F, A-2F, A-3F, A-4F, A-5F, A-6F, A-7F, A-IO & A-1A
$738,874,000 (APPROXIMATE)
APRIL 16, 1998
- --------------------------------------------------------------------------------
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
1
<PAGE> 2
OFFERED CERTIFICATES
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
EXPECTED PRINCIPAL PRINCIPAL
RATINGS AVERAGE MODIFIED WINDOW WINDOW LEGAL
CLASS ------- APPROXIMATE LIFE DURATION (TO MATURITY) (TO CALL) FINAL
CLASS DESCRIPTION S&P/MOODY'S SIZE COUPON (YEARS) (YEARS) IN MONTHS IN MONTHS MATURITY
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1F SEQ AAA/Aaa $251,364,000 0.95 0.89 1 to 22 1 to 22 12/15/07
- ----------------------------------------------------------------------------------------------------------------------------------
A-2F SEQ AAA/Aaa 49,113,000 2.05 1.87 22 to 27 22 to 27 04/15/09
- ----------------------------------------------------------------------------------------------------------------------------------
A-3F SEQ AAA/Aaa 145,552,000 3.10 2.73 27 to 51 27 to 51 12/15/12
- ----------------------------------------------------------------------------------------------------------------------------------
A-4F SEQ AAA/Aaa 64,596,500 5.00 4.15 51 to 74 51 to 74 03/15/21
- ----------------------------------------------------------------------------------------------------------------------------------
A-5F SEQ AAA/Aaa 57,497,343 9.49 6.64 74 to 357 74 to 87 01/15/28
- ----------------------------------------------------------------------------------------------------------------------------------
A-6F NAS AAA/Aaa 52,737,000 5.04 4.18 37 to 80 37 to 80 12/15/07
- ----------------------------------------------------------------------------------------------------------------------------------
A-7F NAS AAA/Aaa 47,463,000 7.84 5.98 80 to 260 80 to 87 11/15/27
- ----------------------------------------------------------------------------------------------------------------------------------
A-IO NAS IO AAA/Aaa 100,200,000** 2.39 1.16 1 to 28 (IO) 1 to 28 (IO) 09/15/00
- ----------------------------------------------------------------------------------------------------------------------------------
A-1A Step - FLT AAA/Aaa 70,551,229 2.96* 2.52 1 to 354 1 to 87 10/15/27
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Class A-1A is run to 10% call.
** National Balance of Class A-6F and Class A-7f
<TABLE>
<CAPTION>
FIXED RATE CERTIFICATES: ADJUSTABLE RATE CERTIFICATES:
- ------------------------ -----------------------------
<S> <C> <C> <C>
1. Classes A-1F through A-5F are sequential pay and are 1. Class A-1A is backed by the adjustable rate mortgage
backed by the fixed rate mortgage loan group. loan group.
2. Classes A-1F through A-5F are payable monthly starting 2. Class A-1A is payable monthly (Actual/360) starting
5/15/98 with fixed pass-through rates calculated on a 5/15/98 with accrual from Closing Date. Class A-1A
(30/360) basis accruing from 4/1/98. resets monthly to one month LIBOR plus [ ]%.
3. Both Class A-6F and A-7F will pay sequentially until 3. Optional call is 10%. Step function is subject to
the Principal Balance of each such Class has been available funds cap.
reduced to zero. The Lockout Percentage for each
Distribution Date is as follows: 0% to month 36; 45% 4. Adjustable rate mortgage loan group pricing speeds: 25%
from months 37 to 60; 80% from months 61 to 72; 100% CPR beginning in month 1. (100% Prepayment Assumption)
from months 73 to 84; and 300% thereafter.
5. Adjustable rate class priced to call.
4. The Class A-IO Certificate will pay a fixed coupon
based on a notional amount equal to the sum of both
Class A-6F and A-7F Principal Balance for the first 28
Distribution Dates.
5. Fixed rate mortgage loan group pricing speeds: 4.0% CPR
in month 1, and an additional 1.8182% in each month
thereafter until month 12; on and thereafter, 24% CPR.
(100% Prepayment Assumption)
6. Fixed rate classes priced to maturity.
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
2
<PAGE> 3
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
SUMMARY OF TERMS
DEPOSITORS: EQCC Receivable Corporation and EQCC Asset Backed
Corporation are wholly owned subsidiaries of EquiCredit
Corporation, which itself is an indirect wholly owned
subsidiary of NationsBank Corporation.
On January 9, 1998, Barnett Banks Inc., the parent and sole
stockholder of EquiCredit Corporation, merged with
NationsBank Corporation. As a result EquiCredit Corporation
is now an indirect wholly-owned subsidiary of NationsBank
Corporation.
SERVICER: EquiCredit Corporation of America, a wholly owned subsidiary
of EquiCredit Corporation, which itself is an indirect
wholly owned subsidiary of NationsBank Corporation.
As of December 31, 1997, EquiCredit serviced a total
portfolio of 115,309 mortgage loans, having an aggregate
unpaid principal balance of $5.2 billion for itself and
investors consisting primarily of major commercial banks,
savings and loan associations, brokerage houses and the
Federal National Mortgage Association.
TRUSTEE: U.S. Bank National Association, an affiliate of First Bank
National Association.
OFFERING: Public; subject to a variance of plus or minus 5.0%.
MANAGERS: NationsBanc Montgomery Securities LLC (Lead)
Lehman Brothers Inc.
Merrill Lynch & Co.
CUT-OFF DATE: April 1, 1998
PRICING DATE: April [ ], 1998
EXPECTED
SETTLEMENT: April [23], 1998
REGISTRATION: Certificates will be available in book-entry form through
DTC, Euroclear or CEDEL.
DISTRIBUTION
DATE: The 15th of each month (or next succeeding business day),
beginning May 15, 1998.
INTEREST
CALCULATION: Classes A-1F through A-5F are payable monthly starting
5/15/98. Fixed pass-through rates are calculated on a 30/360
basis and accrue from 4/1/98. Class A-1A is payable monthly
starting 5/15/98 and resets monthly on an actual/360 basis
to one month LIBOR plus [ ]%. The pass-through rate for the
Class A-1A Certificates will be equal to the lesser of (i)
One-Month LIBOR plus [ ]% in the case of each Distribution
Date through and including the Distribution Date on which
the aggregate principal balance of the Mortgage Loans is
reduced to 10% or less of the aggregate principal balance of
the Mortgage Loans as of the Cut-off Date, or One Month
LIBOR plus [ ]%, in the case of any Distribution Date
thereafter or (ii) the Available Funds Cap.
OPTIONAL CALL: 10% optional clean-up call.
DENOMINATIONS: $1,000 minimum and integral multiples of $1 in excess
thereof.
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
3
<PAGE> 4
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
AVAILABLE
FUNDS CAP: The Class A-1A Certificates will be subject to an
Available Funds Cap equal to the weighted average of the
Mortgage Interest Rates on the Mortgage Loans in the
Adjustable Rate Group as of the first day of the related due
period less: (a) an amount, expressed as an annual
percentage rate across the mortgage pool balance, equal to
the sum of the Servicing fee, the Trustee fee and the
Certificate Insurer fee (the "Ongoing Fees") with respect to
the first twelve Accrual Periods or (b) the sum of the
amount in (a) plus 0.50% per annum, with respect to each
subsequent Accrual Period.
TAX STATUS: REMIC
ERISA: ERISA eligible. Prospective investors that are pension plans
should consult their own counsel with respect to an
investment in the Offered Certificates.
SMMEA: The Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F, A-7F and A-IO
WILL NOT constitute "mortgage related securities" for
purposes of SMMEA.
The Class A-1A Certificates WILL constitute "mortgage
related securities" for purposes of SMMEA.
CERTIFICATE
INSURER: Ambac Assurance Corporation ("AMBAC").
RATING
AGENCIES: S&P and Moody's.
MORTGAGE
LOANS: 14,867 primarily conventional, fully-amortizing, first and
second lien, fixed and adjustable rate (closed end), one- to
four-family residential mortgage loans, with remaining terms
to maturity ranging from approximately 7 months to 360
months.
CONTACT: NationsBanc Montgomery Securities LLC
Mortgage Syndicate
Chris Hentemann
Bill Hale
(704) 386-7744
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
4
<PAGE> 5
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
FIXED RATE MORTGAGE LOAN GROUP
SUMMARY
<TABLE>
<CAPTION>
TOTAL MINIMUM MAXIMUM
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cut-off Date Aggregate Principal Balance $668,322,843.77
Number of Loans 14,114
Average Original Loan Balance $ 47,803.37 $5,000.00 $225,000.00
Average Current Loan Balance $ 47,351.77 $1,096.87 $224,831.67
Weighted Average Combined LTV 78.44% 0.88% 100.00%
Weighted Average Gross Coupon 10.75% 7.00% 17.00%
Weighted Average Remaining Term to Maturity (months) 182.88 7 360
Weighted Average Original Term (months) 186.70 48 360
- ---------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------
PERCENT OF
CUT-OFF DATE
RANGE PRINCIPAL BALANCE
----- -----------------
<S> <C> <C>
Range of Original Terms (in months) 0 to 180 77.62%
181 to 240 6.35%
241 to 360 16.03%
Level Pay Mortgage Loans 58.23%
Balloon Mortgage Loans 41.77%
Lien Position First 79.08%
Second 20.92%
Property Type Single Family 91.46%
2-4 Family 5.79%
Manufactured 0.90%
Multi Family 0.75%
Townhouse 0.58%
Condominium 0.51%
Occupancy Status Owner Occupied 94.06%
Non-owner Occupied 5.85%
Second Home 0.09%
Geographic Concentration Florida 12.15%
Ohio 6.34%
New York 6.33%
Pennsylvania 5.98%
Michigan 4.60%
Other 64.60%
Credit Grade A 56.42%
B 26.08%
C 15.71%
D 1.80%
- -----------------------------------------------------------------------------------------------------------
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
5
<PAGE> 6
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
FIXED RATE MORTGAGE LOAN GROUP
CUT-OFF DATE PRINCIPAL BALANCE
<TABLE>
<CAPTION>
PERCENT OF FIXED RATE
RANGE OF CUT-OFF DATE NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
--------------------- --------- ---------------------- ---------------------
PRINCIPAL BALANCES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------------ -------------- ----------------- -----------------
<S> <C> <C> <C>
Less than 20,000.01 2,618 $ 38,595,783 5.78%
20,000.01 to 30,000.00 2,489 62,892,774 9.41%
30,000.01 to 40,000.00 2,264 79,689,253 11.92%
40,000.01 to 50,000.00 1,856 84,281,967 12.61%
50,000.01 to 60,000.00 1,423 78,374,818 11.73%
60,000.01 to 70,000.00 923 60,032,973 8.98%
70,000.01 to 80,000.00 691 51,803,119 7.75%
80,000.01 to 90,000.00 455 38,736,239 5.80%
90,000.01 to 100,000.00 337 32,055,367 4.80%
100,000.01 to 110,000.00 235 24,587,076 3.68%
110,000.01 to 120,000.00 215 24,772,000 3.71%
120,000.01 to 130,000.00 152 19,019,181 2.85%
130,000.01 to 140,000.00 89 12,018,730 1.80%
140,000.01 to 150,000.00 103 14,980,471 2.24%
150,000.01 to 160,000.00 75 11,622,600 1.74%
160,000.01 to 170,000.00 44 7,259,615 1.09%
170,000.01 to 180,000.00 41 7,177,101 1.07%
180,000.01 to 190,000.00 34 6,284,555 0.94%
190,000.01 to 200,000.00 38 7,389,141 1.11%
200,000.01 to 227,150.00 32 6,750,082 1.01%
------ ------------ ------
TOTAL 14,114 $668,322,844 100.00%
====== ============ ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
6
<PAGE> 7
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
FIXED RATE MORTGAGE LOAN GROUP
STATE OR TERRITORY CONCENTRATION
<TABLE>
<CAPTION>
PERCENT OF FIXED RATE
---------------------
NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
--------- ---------------------- ---------------------
STATE OR TERRITORY MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------------ -------------- ----------------- -----------------
<S> <C> <C> <C>
Florida 1,952 $ 81,188,211 12.15%
Ohio 808 42,382,203 6.34%
New York 648 42,299,769 6.33%
Pennsylvania 911 39,983,517 5.98%
Michigan 560 30,765,045 4.60%
Indiana 756 30,551,976 4.57%
Illinois 568 30,066,087 4.50%
California 603 27,263,249 4.08%
Tennessee 483 23,829,921 3.57%
Georgia 478 22,740,321 3.40%
Maryland 410 22,144,861 3.31%
North Carolina 456 18,906,902 2.83%
Massachusetts 313 18,703,961 2.80%
Virginia 416 17,626,088 2.64%
Minnesota 405 17,407,154 2.60%
South Carolina 375 16,015,736 2.40%
Connecticut 234 14,009,759 2.10%
Louisiana 360 13,848,937 2.07%
Missouri 269 13,389,690 2.00%
Other 3,109 145,199,457 21.73%
------ ------------ ------
TOTAL 14,114 $668,322,844 100.00%
====== ============ ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
7
<PAGE> 8
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
FIXED RATE MORTGAGE LOAN GROUP
COMBINED LOAN-TO-VALUE
<TABLE>
<CAPTION>
PERCENT OF FIXED RATE
---------------------
RANGE OF COMBINED NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
----------------- --------- ---------------------- ---------------------
LOAN-TO-VALUE RATIOS MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
-------------------- -------------- ----------------- -----------------
<C> <C> <C> <C>
0.01% to 5.00% 6 $ 29,553 0.00%
5.01% to 10.00% 13 135,199 0.02%
10.01% to 15.00% 28 468,983 0.07%
15.01% to 20.00% 59 1,080,346 0.16%
20.01% to 25.00% 81 1,769,352 0.26%
25.01% to 30.00% 100 2,453,937 0.37%
30.01% to 35.00% 130 3,597,574 0.54%
35.01% to 40.00% 167 4,926,196 0.74%
40.01% to 45.00% 175 5,576,166 0.83%
45.01% to 50.00% 304 10,229,019 1.53%
50.01% to 55.00% 280 10,575,537 1.58%
55.01% to 60.00% 402 17,489,124 2.62%
60.01% to 65.00% 469 21,467,000 3.21%
65.01% to 70.00% 964 46,297,371 6.93%
70.01% to 75.00% 1,894 101,269,198 15.15%
75.01% to 80.00% 2,329 131,150,313 19.62%
80.01% to 85.00% 3,157 169,484,546 25.36%
85.01% to 90.00% 1,330 70,318,949 10.52%
90.01% to 95.00% 507 27,082,732 4.05%
95.01% to 100.00% 1,719 42,921,749 6.42%
------ ------------ ------
TOTAL 14,114 $668,322,844 100.00%
====== ============ ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
8
<PAGE> 9
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
FIXED RATE MORTGAGE LOAN GROUP
RANGE OF MORTGAGE INTEREST RATES
<TABLE>
<CAPTION>
PERCENT OF FIXED RATE
---------------------
RANGE OF MORTGAGE NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
----------------- --------- ---------------------- ---------------------
INTEREST RATES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
-------------- -------------- ----------------- -----------------
<C> <C> <C> <C>
6.751% to 7.000% 2 $ 142,169 0.02%
7.001% to 7.250% 4 193,091 0.03%
7.251% to 7.500% 3 260,807 0.04%
7.501% to 7.750% 5 370,114 0.06%
7.751% to 8.000% 15 1,470,883 0.22%
8.001% to 8.250% 16 1,116,153 0.17%
8.251% to 8.500% 137 8,377,407 1.25%
8.501% to 8.750% 105 8,477,827 1.27%
8.751% to 9.000% 190 14,172,627 2.12%
9.001% to 9.250% 235 14,078,541 2.11%
9.251% to 9.500% 588 34,996,324 5.24%
9.501% to 9.750% 737 45,053,745 6.74%
9.751% to 10.000% 987 58,582,380 8.77%
10.001% to 10.250% 1,127 61,924,381 9.27%
10.251% to 10.500% 1,238 68,355,843 10.23%
10.501% to 10.750% 1,192 62,478,428 9.35%
10.751% to 11.000% 1,614 75,165,604 11.25%
11.001% to 11.250% 973 41,984,521 6.28%
11.251% to 11.500% 636 29,155,164 4.36%
11.501% to 11.750% 711 29,463,816 4.41%
11.751% to 12.000% 428 17,248,043 2.58%
12.001% to 12.250% 366 15,996,765 2.39%
12.251% to 12.500% 282 10,481,466 1.57%
12.501% to 12.750% 305 11,636,211 1.74%
12.751% to 13.000% 465 14,392,619 2.15%
13.001% to 13.250% 166 5,070,699 0.76%
13.251% to 13.500% 291 8,179,265 1.22%
13.501% to 13.750% 1,017 23,816,273 3.56%
13.751% to 14.000% 61 1,259,991 0.19%
14.001% to 14.250% 72 1,698,318 0.25%
14.251% to 14.500% 88 1,933,633 0.29%
14.501% to 14.750% 12 234,504 0.04%
14.751% to 15.000% 11 169,435 0.03%
15.001% to 15.250% 9 161,057 0.02%
15.251% to 15.500% 4 30,136 0.00%
15.501% to 15.750% 16 142,164 0.02%
16.001% to 17.000% 6 52,440 0.01%
------ ------------ ------
TOTAL 14,114 $668,322,844 100.00%
====== ============ ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
9
<PAGE> 10
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
FIXED RATE MORTGAGE LOAN GROUP
ORIGINAL MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
RANGE OF ORIGINAL PERCENT OF FIXED RATE
----------------- ---------------------
MONTHS TO NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
--------- --------- ---------------------- ---------------------
STATED MATURITY MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
--------------- -------------- ----------------- -----------------
<C> <C> <C> <C>
37 to 48 1 $ 18,857 0.00%
49 to 60 74 1,268,101 0.19%
61 to 72 12 230,924 0.03%
73 to 84 1,318 85,013,911 12.72%
85 to 96 13 211,141 0.03%
109 to 120 2,347 144,597,352 21.64%
133 to 144 26 647,321 0.10%
145 to 156 3 161,630 0.02%
157 to 168 3 91,089 0.01%
169 to 180 7,955 286,495,431 42.87%
229 to 240 820 42,450,410 6.35%
289 to 300 3 128,892 0.02%
349 to 360 1,539 107,007,784 16.01%
------ ------------ ------
TOTAL 14,114 $668,322,844 100.00%
====== ============ ======
</TABLE>
MONTHS SINCE ORIGINATION
<TABLE>
<CAPTION>
PERCENT OF FIXED RATE
---------------------
RANGE OF MONTHS NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
---------------- --------- ---------------------- ---------------------
SINCE ORIGINATION MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
----------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
Less than 1 2 $ 51,900 0.01%
1 to 6 13,583 651,676,972 97.51%
7 to 12 275 10,990,089 1.64%
Greater than 12 254 5,603,883 0.84%
------ ------------ ------
TOTAL 14,114 $668,322,844 100.00%
====== ============ ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
10
<PAGE> 11
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
<TABLE>
<CAPTION>
SUMMARY
- ---------------------------------------------------------------------------------------------------------
TOTAL MINIMUM MAXIMUM
----- ------- -------
<S> <C> <C> <C>
Cut-off Date Aggregate Principal Balance $70,551,229.45
Number of Loans 753
Average Original Loan Balance $ 93,941.53 $20,250.00 $350,000.00
Average Current Loan Balance $ 93,693.53 $20,225.91 $349,843.48
Weighted Average Combined LTV 82.91% 22.95% 98.73%
Weighted Average Gross Coupon 8.54% 6.75% 11.25%
Weighted Average Remaining Term to Maturity months) 112.81 60 359
Weighted Average Original Term (months) 116.40 83 360
Weighted Average Gross Margin 5.10% 4.00% 7.55%
Weighted Average Gross Lifetime Cap 16.98% 15.88% 20.00%
Weighted Average Gross Lifetime Floor 8.48% 6.75% 12.29%
Weighted Average Periodic Cap 1.00% 1.00% 1.00%
Weighted Average First Adjustment Cap 1.00% 1.00% 1.00%
- ----------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------
PERCENT OF
CUT-OFF DATE
RANGE PRINCIPAL BALANCE
----- -----------------
<S> <C> <C>
Range of Original Terms (in months) 0 to 180 94.02%
181 to 240 0.77%
241 to 360 5.21%
Level Pay Mortgage Loans 7.97%
Balloon Mortgage Loans 92.03%
Product Type 6 Month LIBOR 100.00%
Lien Position First 100.00%
Property Type Single Family 96.34%
2-4 Family 2.99%
Condominium 0.54%
Townhouse 0.12%
Occupancy Status Owner Occupied 100.00%
Geographic Concentration Michigan 14.42%
Ohio 11.73%
Minnesota 8.34%
Illinois 8.10%
Indiana 4.93%
Other 52.48%
Credit Grade A 62.24%
B 27.91%
C 9.85%
D 0.00%
- ------------------------------------------------------------------------------------------------
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
11
<PAGE> 12
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
CUT-OFF DATE PRINCIPAL BALANCE
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
--------------------------
RANGE OF CUT-OFF DATE NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
--------------------- --------- ---------------------- ---------------------
PRINCIPAL BALANCES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------------ -------------- ----------------- -----------------
<C> <C> <C> <C>
20,000.01 to 30,000.00 9 $ 245,140 0.35%
30,000.01 to 40,000.00 32 1,135,910 1.61%
40,000.01 to 50,000.00 63 2,870,542 4.07%
50,000.01 to 60,000.00 86 4,742,008 6.72%
60,000.01 to 70,000.00 90 5,866,022 8.31%
70,000.01 to 80,000.00 87 6,531,775 9.26%
80,000.01 to 90,000.00 61 5,175,959 7.34%
90,000.01 to 100,000.00 58 5,539,892 7.85%
100,000.01 to 110,000.00 54 5,645,983 8.00%
110,000.01 to 120,000.00 45 5,202,424 7.37%
120,000.01 to 130,000.00 39 4,867,010 6.90%
130,000.01 to 140,000.00 24 3,214,661 4.56%
140,000.01 to 150,000.00 20 2,916,603 4.13%
150,000.01 to 160,000.00 13 2,000,992 2.84%
160,000.01 to 170,000.00 13 2,142,634 3.04%
170,000.01 to 180,000.00 17 2,956,865 4.19%
180,000.01 to 190,000.00 7 1,300,282 1.84%
190,000.01 to 200,000.00 8 1,570,449 2.23%
200,000.01 to 250,000.00 18 3,970,349 5.63%
250,000.01 to 300,000.00 5 1,345,886 1.91%
300,000.01 to 350,000.00 4 1,309,845 1.86%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
12
<PAGE> 13
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
STATE OR TERRITORY CONCENTRATION
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
--------------------------
NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
--------- ---------------------- ---------------------
STATE OR ERRITORY MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
- ----------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
Michigan 108 $10,175,505 14.42%
Ohio 103 8,277,191 11.73%
Minnesota 55 5,882,438 8.34%
Illinois 64 5,711,380 8.10%
Indiana 51 3,475,198 4.93%
North Carolina 33 3,190,553 4.52%
Arizona 27 2,974,761 4.22%
Florida 28 2,712,724 3.85%
Maryland 20 2,700,808 3.83%
Missouri 31 2,678,074 3.80%
West Virginia 42 2,655,121 3.76%
Virginia 19 2,040,792 2.89%
Georgia 15 1,653,937 2.34%
Texas 13 1,602,114 2.27%
Tennessee 12 1,567,680 2.22%
Wisconsin 20 1,555,394 2.20%
New Jersey 10 1,477,973 2.09%
Other 102 10,219,586 4.49%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
13
<PAGE> 14
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
COMBINED LOAN-TO-VALUE
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
--------------------------
RANGE OF COMBINED NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
----------------- --------- ---------------------- ---------------------
LOAN-TO-VALUE RATIOS MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
- -------------------- -------------- ----------------- -----------------
<C> <C> <C> <C>
20.01% to 25.00% 1 $ 25,193 0.04%
25.01% to 30.00% 1 53,253 0.08%
35.01% to 40.00% 3 163,040 0.23%
40.01% to 45.00% 2 72,040 0.10%
45.01% to 50.00% 3 371,241 0.53%
50.01% to 55.00% 5 289,385 0.41%
55.01% to 60.00% 10 934,192 1.32%
60.01% to 65.00% 11 608,625 0.86%
65.01% to 70.00% 21 2,209,236 3.13%
70.01% to 75.00% 98 8,170,192 11.58%
75.01% to 80.00% 145 13,283,218 18.83%
80.01% to 85.00% 252 22,861,490 32.40%
85.01% to 90.00% 98 9,909,658 14.05%
90.01% to 95.00% 98 11,050,016 15.66%
95.01% to 100.00% 5 550,450 0.78%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
14
<PAGE> 15
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
RANGE OF MORTGAGE INTEREST RATES
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
--------------------------
RANGE OF MORTGAGE NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
- ----------------- --------- ---------------------- ---------------------
INTEREST RATES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
-------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
6.501% to 6.750% 1 $ 147,356 0.21%
6.751% to 7.000% 2 85,488 0.12%
7.001% to 7.250% 7 703,727 1.00%
7.251% to 7.500% 30 2,685,827 3.81%
7.501% to 7.750% 66 6,285,808 8.91%
7.751% to 8.000% 54 4,849,260 6.87%
8.001% to 8.250% 147 14,852,175 21.05%
8.251% to 8.500% 143 13,210,960 18.73%
8.501% to 8.750% 116 12,357,733 17.52%
8.751% to 9.000% 33 3,048,857 4.32%
9.001% to 9.250% 72 6,001,268 8.51%
9.251% to 9.500% 9 806,155 1.14%
9.501% to 9.750% 15 1,361,157 1.93%
9.751% to 10.000% 10 941,057 1.33%
10.001% to 10.250% 37 2,421,523 3.43%
10.501% to 10.750% 5 301,242 0.43%
10.751% to 11.000% 3 222,958 0.32%
11.001% to 11.250% 3 268,678 0.38%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
ORIGINAL MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
RANGE OF ORIGINAL PERCENT OF ADJUSTABLE RATE
- ----------------- --------------------------
MONTHS TO NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
--------- --------- ---------------------- ---------------------
STATED MATURITY MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
--------------- -------------- ----------------- -----------------
<C> <C> <C> <C>
73 to 84 418 $38,326,190 54.32%
109 to 120 238 23,952,565 33.95%
169 to 180 49 4,052,773 5.74%
229 to 240 7 543,175 0.77%
349 to 360 41 3,676,526 5.21%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
15
<PAGE> 16
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
MONTHS SINCE ORIGINATION
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
--------------------------
RANGE OF MONTHS NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
--------------- --------- ---------------------- ---------------------
SINCE ORIGINATION MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
- ----------------- -------------- ----------------- -----------------
<C> <C> <C> <C>
1 to 6 707 $66,592,266 94.39%
7 to 12 43 3,719,677 5.27%
Greater than 12 3 239,286 0.34%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
GROSS MARGINS
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
--------------------------
RANGE OF NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
-------- --------- ---------------------- ---------------------
GROSS MARGINS MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------- -------------- ----------------- -----------------
<C> <C> <C> <C>
3.751% to 4.000% 1 $ 147,356 0.21%
4.001% to 4.250% 32 2,845,965 4.03%
4.251% to 4.500% 68 6,295,864 8.92%
4.501% to 4.750% 38 3,546,674 5.03%
4.751% to 5.000% 177 17,424,301 24.70%
5.001% to 5.250% 210 20,632,182 29.24%
5.251% to 5.500% 68 7,396,153 10.48%
5.501% to 5.750% 70 5,281,449 7.49%
5.751% to 6.000% 63 4,990,821 7.07%
6.001% to 6.250% 6 501,373 0.71%
6.251% to 6.500% 15 1,065,767 1.51%
6.501% to 6.750% 1 122,734 0.17%
6.751% to 7.000% 2 187,143 0.27%
7.001% to 7.250% 1 49,404 0.07%
7.501% to 7.750% 1 64,044 0.09%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
16
<PAGE> 17
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
NEXT MORTGAGE INTEREST RATE CHANGE
<TABLE>
<CAPTION>
MONTH OF PERCENT OF ADJUSTABLE RATE
-------- --------------------------
NEXT MORTGAGE INTEREST NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
- ---------------------- --------- ---------------------- ---------------------
RATE CHANGE MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
----------- -------------- ----------------- -----------------
<S> <C> <C> <C>
May 1998 207 $18,832,846 26.69%
April 1998 151 14,258,939 20.21%
June 1998 146 14,266,622 20.22%
July 1998 126 12,770,578 18.10%
August 1998 83 6,973,442 9.88%
October 1998 34 2,964,093 4.20%
September 1998 3 280,814 0.40%
February 1998 1 38,296 0.05%
March 1998 1 103,354 0.15%
December 1998 1 62,244 0.09%
--- ----------- ------
TOTAL 753 $70,551,229 100.00%
=== =========== ======
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
17
<PAGE> 18
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
BOND SUMMARY
<TABLE>
<CAPTION>
A-1F (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 6.50 1.69 1.21 0.95 0.79 0.68 0.53
Modified Duration (yrs.) 5.06 1.54 1.12 0.89 0.74 0.64 0.51
First Principal Payment Date 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98
Last Principal Payment Date 12/15/07 10/15/01 09/15/00 02/15/00 10/15/99 07/15/99 04/15/99
Payment Windows (mos.) 115 41 28 21 17 14 11
Yield @ 100.0000 6.183 6.075 6.018 5.962 5.909 5.857 5.758
A-2F (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 10.07 3.94 2.68 2.05 1.66 1.39 1.05
Modified Duration (yrs.) 7.33 3.40 2.40 1.87 1.53 1.29 0.99
First Principal Payment Date 12/15/07 10/15/01 09/15/00 02/15/00 10/15/99 07/15/99 04/15/99
Last Principal Payment Date 04/15/09 09/15/02 04/15/01 07/15/00 02/15/00 11/15/99 06/15/99
Payment Windows (mos.) 16 11 7 5 4 4 2
Yield @ 100.0000 6.106 6.069 6.040 6.013 5.984 5.956 5.899
A-3F (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 13.35 6.23 4.21 3.10 2.44 2.02 1.48
Modified Duration (yrs.) 8.83 5.00 3.59 2.73 2.20 1.85 1.38
First Principal Payment Date 04/15/09 09/15/02 04/15/01 07/15/00 02/15/00 11/15/99 06/15/99
Last Principal Payment Date 12/15/12 06/15/07 03/15/04 07/15/02 07/15/01 12/15/00 03/15/00
Payment Windows (mos.) 44 57 35 24 17 13 9
Yield @ 100.0000 6.221 6.201 6.182 6.161 6.140 6.119 6.075
A-4F (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 17.85 10.12 7.28 5.00 3.77 2.98 2.13
Modified Duration (yrs.) 10.27 7.22 5.62 4.15 3.25 2.63 1.93
First Principal Payment Date 12/15/12 06/15/07 03/15/04 07/15/02 07/15/01 12/15/00 03/15/00
Last Principal Payment Date 03/15/21 01/15/10 12/15/07 06/15/04 10/15/02 10/15/01 09/15/00
Payment Windows (mos.) 99 31 45 23 15 10 6
Yield @ 100.0000 6.476 6.466 6.456 6.440 6.423 6.405 6.371
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
18
<PAGE> 19
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
<TABLE>
<CAPTION>
A-5F (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 26.76 15.16 12.15 9.49 6.71 4.25 2.71
Modified Duration (yrs.) 11.92 9.04 7.91 6.64 5.08 3.57 2.40
First Principal Payment Date 03/15/21 01/15/10 12/15/07 06/15/04 10/15/02 10/15/01 09/15/00
Last Principal Payment Date 01/15/28 01/15/28 01/15/28 01/15/28 01/15/28 03/15/04 06/15/01
Payment Windows (mos.) 82 216 241 283 303 29 9
Yield @ 100.0000 6.898 6.891 6.886 6.880 6.868 6.846 6.809
A-6F (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 7.67 5.84 5.39 5.04 4.72 4.47 3.56
Modified Duration (yrs.) 5.90 4.73 4.43 4.18 3.96 3.78 3.10
First Principal Payment Date 05/15/01 05/15/01 05/15/01 05/15/01 05/15/01 05/15/01 05/15/01
Last Principal Payment Date 12/15/07 09/15/05 04/15/05 12/15/04 08/15/04 03/15/04 06/15/02
Payment Windows (mos.) 79 52 47 43 39 34 13
Yield @ 100.0000 6.228 6.218 6.215 6.212 6.208 6.206 6.192
A-7F (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 10.03 8.72 8.18 7.84 7.66 7.64 5.59
Modified Duration (yrs.) 7.19 6.49 6.18 5.98 5.87 5.83 4.54
First Principal Payment Date 12/15/07 09/15/05 04/15/05 12/15/04 08/15/04 03/15/04 06/15/02
Last Principal Payment Date 11/15/27 01/15/27 02/15/24 12/15/19 02/15/16 01/15/28 03/15/25
Payment Windows (mos.) 239 256 226 180 138 286 273
Yield @ 100.0000 6.397 6.393 6.391 6.390 6.389 6.389 6.377
A-1A (TO MATURITY)
- ---------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- ---------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 8.57 4.88 3.84 3.07 2.50 2.06 1.44
Modified Duration (yrs.) 6.33 3.90 3.16 2.59 2.15 1.80 1.30
First Principal Payment Date 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98
Last Principal Payment Date 10/15/27 10/15/27 10/15/27 10/15/27 01/15/27 11/15/24 03/15/20
Payment Windows (mos.) 353 353 353 353 344 318 262
Yield @ 100.0000 5.998 6.000 6.000 6.003 6.004 6.008 6.012
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
19
<PAGE> 20
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
<TABLE>
<CAPTION>
A-1F (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 6.50 1.69 1.21 0.95 0.79 0.68 0.53
Modified Duration (yrs.) 5.06 1.54 1.12 0.89 0.74 0.64 0.51
First Principal Payment Date 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98
Last Principal Payment Date 12/15/07 10/15/01 09/15/00 02/15/00 10/15/99 07/15/99 04/15/99
Payment Windows (mos.) 115 41 28 21 17 14 11
Yield @ 100.0000 6.183 6.075 6.018 5.962 5.909 5.857 5.758
A-2F (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 10.07 3.94 2.68 2.05 1.66 1.39 1.05
Modified Duration (yrs.) 7.33 3.40 2.40 1.87 1.53 1.29 0.99
First Principal Payment Date 12/15/07 10/15/01 09/15/00 02/15/00 10/15/99 07/15/99 04/15/99
Last Principal Payment Date 04/15/09 09/15/02 04/15/01 07/15/00 02/15/00 11/15/99 06/15/99
Payment Windows (mos.) 16 11 7 5 4 4 2
Yield @ 100.0000 6.106 6.069 6.040 6.013 5.984 5.956 5.899
A-3F (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 13.35 6.23 4.21 3.10 2.44 2.02 1.48
Modified Duration (yrs.) 8.83 5.00 3.59 2.73 2.20 1.85 1.38
First Principal Payment Date 04/15/09 09/15/02 04/15/01 07/15/00 02/15/00 11/15/99 06/15/99
Last Principal Payment Date 12/15/12 06/15/07 03/15/04 07/15/02 07/15/01 12/15/00 03/15/00
Payment Windows (mos.) 44 57 35 24 17 13 9
Yield @ 100.0000 6.221 6.201 6.182 6.161 6.140 6.119 6.075
A-4F (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 17.53 10.01 7.27 5.00 3.77 2.98 2.13
Modified Duration (yrs.) 10.19 7.17 5.61 4.15 3.25 2.63 1.93
First Principal Payment Date 12/15/12 06/15/07 03/15/04 07/15/02 07/15/01 12/15/00 03/15/00
Last Principal Payment Date 06/15/18 01/15/09 09/15/07 06/15/04 10/15/02 10/15/01 09/15/00
Payment Windows (mos.) 66 19 42 23 15 10 6
Yield @ 100.0000 6.476 6.465 6.456 6.440 6.423 6.405 6.371
A-5F (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 20.14 10.73 9.39 7.00 5.54 4.23 2.71
Modified Duration (yrs.) 10.63 7.38 6.72 5.39 4.46 3.55 2.40
First Principal Payment Date 06/15/18 01/15/09 09/15/07 06/15/04 10/15/02 10/15/01 09/15/00
Last Principal Payment Date 06/15/18 01/15/09 09/15/07 07/15/05 08/15/04 06/15/03 06/15/01
Payment Windows (mos.) 0 0 0 13 22 20 9
Yield @ 100.0000 6.895 6.884 6.880 6.871 6.861 6.845 6.809
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
20
<PAGE> 21
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
<TABLE>
<CAPTION>
A-6F (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Average Life (yrs.) 7.67 5.84 5.39 5.04 4.72 4.37 3.46
Modified Duration (yrs.) 5.90 4.73 4.43 4.18 3.96 3.71 3.02
First Principal Payment Date 05/15/01 05/15/01 05/15/01 05/15/01 05/15/01 05/15/01 05/15/01
Last Principal Payment Date 12/15/07 09/15/05 04/15/05 12/15/04 08/15/04 06/15/03 12/15/01
Payment Windows (mos.) 79 52 47 43 39 25 7
Yield @ 100.0000 6.228 6.218 6.215 6.212 6.208 6.204 6.190
A-7F (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 10.03 8.70 8.13 7.12 6.31 5.14 3.64
Modified Duration (yrs.) 7.19 6.48 6.15 5.56 5.05 4.26 3.16
First Principal Payment Date 12/15/07 09/15/05 04/15/05 12/15/04 08/15/04 06/15/03 12/15/01
Last Principal Payment Date 06/15/18 01/15/09 09/15/07 07/15/05 08/15/04 06/15/03 12/15/01
Payment Windows (mos.) 126 40 29 7 0 0 0
Yield @ 100.0000 6.397 6.393 6.391 6.387 6.382 6.373 6.353
A-1A (TO CALL)
- --------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% PPC 50.0% PPC 75.0% PPC 100.0% PPC 125.0% PPC 150.0% PPC 200.0% PPC
Implied Seasoned CPR 0.00% 12.00% 18.00% 24.00% 30.00% 36.00% 48.00%
- --------------------------------------------------------------------------------------------------------------------------
Average Life (yrs.) 8.47 4.78 3.77 2.96 2.40 1.94 1.34
Modified Duration (yrs.) 6.30 3.86 3.12 2.52 2.09 1.72 1.22
First Principal Payment Date 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98 05/15/98
Last Principal Payment Date 06/15/18 01/15/09 09/15/07 07/15/05 08/15/04 06/15/03 12/15/01
Payment Windows (mos.) 241 128 112 86 75 61 43
Yield @ 100.0000 5.997 5.998 5.998 5.998 5.999 5.999 6.001
</TABLE>
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
21
<PAGE> 22
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
AVAILABLE FUNDS CAP ("AFC")*
<TABLE>
<CAPTION>
Period Pay Date AFC Period Pay Date AFC Period Pay Date AFC
------ -------- ----- ------ -------- ----- ------ -------- ---
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 5/15/98 10.70 41 9/15/01 9.28 81 1/15/05 9.24
2 6/15/98 7.83 42 10/15/01 9.59 82 2/15/05 9.23
3 7/15/98 8.33 43 11/15/01 9.28 83 3/15/05 10.20
4 8/15/98 8.26 44 12/15/01 9.59 84 4/15/05 9.22
5 9/15/98 8.43 45 1/15/02 9.28 85 5/15/05 9.52
6 10/15/98 8.80 46 2/15/02 9.28 86 6/15/05 9.22
7 11/15/98 8.56 47 3/15/02 10.28 87 7/15/05 9.52
8 12/15/98 9.09 48 4/15/02 9.28 88 8/15/05 9.22
9 1/15/99 9.03 49 5/15/02 9.59 89 9/15/05 9.22
10 2/15/99 9.23 50 6/15/02 9.28 90 10/15/05 9.52
11 3/15/99 10.40 51 7/15/02 9.59 91 11/15/05 9.22
12 4/15/99 9.48 52 8/15/02 9.28 92 12/15/05 9.52
13 5/15/99 9.33 53 9/15/02 9.28 93 1/15/06 9.22
14 6/15/99 9.15 54 10/15/02 9.59 94 2/15/06 9.22
15 7/15/99 9.52 55 11/15/02 9.28 95 3/15/06 10.20
16 8/15/99 9.24 56 12/15/02 9.59 96 4/15/06 9.22
17 9/15/99 9.27 57 1/15/03 9.28 97 5/15/06 9.52
18 10/15/99 9.59 58 2/15/03 9.28 98 6/15/06 9.22
19 11/15/99 9.28 59 3/15/03 10.28 99 7/15/06 9.52
20 12/15/99 9.59 60 4/15/03 9.28 100 8/15/06 9.22
21 1/15/00 9.28 61 5/15/03 9.59 101 9/15/06 9.22
22 2/15/00 9.28 62 6/15/03 9.28 102 10/15/06 9.52
23 3/15/00 9.92 63 7/15/03 9.59 103 11/15/06 9.22
24 4/15/00 9.28 64 8/15/03 9.28 104 12/15/06 9.52
25 5/15/00 9.59 65 9/15/03 9.28 105 1/15/07 9.22
26 6/15/00 9.28 66 10/15/03 9.59 106 2/15/07 9.22
27 7/15/00 9.59 67 11/15/03 9.28 107 3/15/07 10.20
28 8/15/00 9.28 68 12/15/03 9.59 108 4/15/07 9.22
29 9/15/00 9.28 69 1/15/04 9.28 109 5/15/07 9.52
30 10/15/00 9.59 70 2/15/04 9.28 110 6/15/07 9.22
31 11/15/00 9.28 71 3/15/04 9.92 111 7/15/07 9.52
32 12/15/00 9.59 72 4/15/04 9.28 112 8/15/07 9.22
33 1/15/01 9.28 73 5/15/04 9.59 113 9/15/07 9.22
34 2/15/01 9.28 74 6/15/04 9.28 114 10/15/07 9.52
35 3/15/01 10.28 75 7/15/04 9.59 115 11/15/07 9.23
36 4/15/01 9.28 76 8/15/04 9.28 116 12/15/07 9.55
37 5/15/01 9.59 77 9/15/04 9.28 117 1/15/08 9.24
38 6/15/01 9.28 78 10/15/04 9.59 118 2/15/08 9.25
39 7/15/01 9.59 79 11/15/04 9.26 119 3/15/08 9.84
40 8/15/01 9.28 80 12/15/04 9.56 120 4/15/08 9.20
</TABLE>
* AVAILABLE FUNDS CAP. The Adjustable Rate Group loan net WAC (net of Ongoing
Fees). Achieved assuming 6 month LIBOR stays constant at 5.6875%; run at the
pricing speed.
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
22
<PAGE> 23
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
AVAILABLE FUNDS CAP ("AFC")*
<TABLE>
<CAPTION>
Period Pay Date AFC Period Pay Date AFC Period Pay Date AFC
------ -------- ----- ------ -------- ---- ------ -------- ---
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 5/15/08 9.51 161 9/15/11 9.20 201 1/15/15 9.25
122 6/15/08 9.20 162 10/15/11 9.51 202 2/15/15 9.25
123 7/15/08 9.51 163 11/15/11 9.20 203 3/15/15 10.24
124 8/15/08 9.20 164 12/15/11 9.51 204 4/15/15 9.25
125 9/15/08 9.20 165 1/15/12 9.20 205 5/15/15 9.56
126 10/15/08 9.51 166 2/15/12 9.20 206 6/15/15 9.25
127 11/15/08 9.20 167 3/15/12 9.84 207 7/15/15 9.56
128 12/15/08 9.51 168 4/15/12 9.20 208 8/15/15 9.25
129 1/15/09 9.20 169 5/15/12 9.51 209 9/15/15 9.25
130 2/15/09 9.20 170 6/15/12 9.20 210 10/15/15 9.56
131 3/15/09 10.19 171 7/15/12 9.51 211 11/15/15 9.25
132 4/15/09 9.20 172 8/15/12 9.20 212 12/15/15 9.56
133 5/15/09 9.51 173 9/15/12 9.20 213 1/15/16 9.25
134 6/15/09 9.20 174 10/15/12 9.51 214 2/15/16 9.25
135 7/15/09 9.51 175 11/15/12 9.21 215 3/15/16 9.89
136 8/15/09 9.20 176 12/15/12 9.51 216 4/15/16 9.25
137 9/15/09 9.20 177 1/15/13 9.23 217 5/15/16 9.56
138 10/15/09 9.51 178 2/15/13 9.25 218 6/15/16 9.25
139 11/15/09 9.20 179 3/15/13 10.24 219 7/15/16 9.56
140 12/15/09 9.51 180 4/15/13 9.25 220 8/15/16 9.25
141 1/15/10 9.20 181 5/15/13 9.56 221 9/15/16 9.25
142 2/15/10 9.20 182 6/15/13 9.25 222 10/15/16 9.56
143 3/15/10 10.19 183 7/15/13 9.56 223 11/15/16 9.25
144 4/15/10 9.20 184 8/15/13 9.25 224 12/15/16 9.56
145 5/15/10 9.51 185 9/15/13 9.25 225 1/15/17 9.25
146 6/15/10 9.20 186 10/15/13 9.56 226 2/15/17 9.25
147 7/15/10 9.51 187 11/15/13 9.25 227 3/15/17 10.24
148 8/15/10 9.20 188 12/15/13 9.56 228 4/15/17 9.25
149 9/15/10 9.20 189 1/15/14 9.25 229 5/15/17 9.56
150 10/15/10 9.51 190 2/15/14 9.25 230 6/15/17 9.25
151 11/15/10 9.20 191 3/15/14 10.24 231 7/15/17 9.56
152 12/15/10 9.51 192 4/15/14 9.25 232 8/15/17 9.25
153 1/15/11 9.20 193 5/15/14 9.56 233 9/15/17 9.25
154 2/15/11 9.20 194 6/15/14 9.25 234 10/15/17 9.56
155 3/15/11 10.19 195 7/15/14 9.56 235 11/15/17 9.25
156 4/15/11 9.20 196 8/15/14 9.25 236 12/15/17 9.56
157 5/15/11 9.51 197 9/15/14 9.25 237 1/15/18 9.25
158 6/15/11 9.20 198 10/15/14 9.56 238 2/15/18 9.25
159 7/15/11 9.51 199 11/15/14 9.25 239 3/15/18 10.24
160 8/15/11 9.20 200 12/15/14 9.56 240 4/15/18 9.25
</TABLE>
* AVAILABLE FUNDS CAP. The adjustable Rate Group loan net WAC (net of Ongoing
Fees). Achieved assuming 6 month LIBOR stays constant at 5.6875%; run at the
pricing speed.
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
23
<PAGE> 24
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
AVAILABLE FUNDS CAP ("AFC")*
<TABLE>
<CAPTION>
Period Pay Date AFC Period Pay Date AFC Period Pay Date AFC
------ -------- ----- ------ -------- ----- ------ -------- ---
<S> <C> <C> <C> <C> <C> <C> <C> <C>
241 5/15/18 9.56 281 9/15/21 9.24 321 1/15/25 9.69
242 6/15/18 9.25 282 10/15/21 9.55 322 2/15/25 9.71
243 7/15/18 9.56 283 11/15/21 9.24 323 3/15/25 10.77
244 8/15/18 9.25 284 12/15/21 9.55 324 4/15/25 9.75
245 9/15/18 9.25 285 1/15/22 9.24 325 5/15/25 10.11
246 10/15/18 9.56 286 2/15/22 9.24 326 6/15/25 9.81
247 11/15/18 9.25 287 3/15/22 10.23 327 7/15/25 10.18
248 12/15/18 9.56 288 4/15/22 9.24 328 8/15/25 9.89
249 1/15/19 9.25 289 5/15/22 9.55 329 9/15/25 9.94
250 2/15/19 9.25 290 6/15/22 9.24 330 10/15/25 10.34
251 3/15/19 10.24 291 7/15/22 9.56 331 11/15/25 10.08
252 4/15/19 9.25 292 8/15/22 9.25 332 12/15/25 10.52
253 5/15/19 9.56 293 9/15/22 9.25 333 1/15/26 10.20
254 6/15/19 9.25 294 10/15/22 9.56 334 2/15/26 10.23
255 7/15/19 9.56 295 11/15/22 9.26 335 3/15/26 11.35
256 8/15/19 9.25 296 12/15/22 9.57 336 4/15/26 10.28
257 9/15/19 9.25 297 1/15/23 9.27 337 5/15/26 10.65
258 10/15/19 9.56 298 2/15/23 9.27 338 6/15/26 10.34
259 11/15/19 9.25 299 3/15/23 10.27 339 7/15/26 10.72
260 12/15/19 9.55 300 4/15/23 9.28 340 8/15/26 10.42
261 1/15/20 9.25 301 5/15/23 9.60 341 9/15/26 10.47
262 2/15/20 9.25 302 6/15/23 9.29 342 10/15/26 10.88
263 3/15/20 9.88 303 7/15/23 9.61 343 11/15/26 10.60
264 4/15/20 9.25 304 8/15/23 9.31 344 12/15/26 11.04
265 5/15/20 9.55 305 9/15/23 9.32 345 1/15/27 10.79
266 6/15/20 9.25 306 10/15/23 9.64 346 2/15/27 10.92
267 7/15/20 9.55 307 11/15/23 9.34 347 3/15/27 12.28
268 8/15/20 9.25 308 12/15/23 9.66 348 4/15/27 11.31
269 9/15/20 9.25 309 1/15/24 9.36 349 5/15/27 12.01
270 10/15/20 9.55 310 2/15/24 9.38 350 6/15/27 12.09
271 11/15/20 9.25 311 3/15/24 10.04 351 7/15/27 13.30
272 12/15/20 9.55 312 4/15/24 9.42 352 8/15/27 14.39
273 1/15/21 9.25 313 5/15/24 9.76 353 9/15/27 18.79
274 2/15/21 9.25 314 6/15/24 9.48 354 10/15/27 168.88
275 3/15/21 10.24 315 7/15/24 9.83
276 4/15/21 9.25 316 8/15/24 9.57
277 5/15/21 9.55 317 9/15/24 9.63
278 6/15/21 9.24 318 10/15/24 9.97
279 7/15/21 9.55 319 11/15/24 9.66
280 8/15/21 9.24 320 12/15/24 10.00
</TABLE>
* AVAILABLE FUNDS CAP. The Adjustable Rate Group loan net WAC (net of Ongoing
Fees). Achieved assuming 6 month LIBOR stays constant at 5.6875%; run at the
pricing speed.
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
24
<PAGE> 25
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
AVAILABLE FUNDS CAP ("AFC")**
<TABLE>
<CAPTION>
Period Pay Date AFC Period Pay Date AFC Period Pay Date AFC
------ -------- ----- ------ -------- ----- ------ -------- ---
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 5/15/98 10.70 41 9/15/01 13.75 81 1/15/05 15.24
2 6/15/98 7.83 42 10/15/01 14.30 82 2/15/05 15.22
3 7/15/98 8.33 43 11/15/01 13.88 83 3/15/05 16.84
4 8/15/98 8.26 44 12/15/01 14.59 84 4/15/05 15.21
5 9/15/98 8.43 45 1/15/02 14.35 85 5/15/05 15.72
6 10/15/98 8.80 46 2/15/02 14.55 86 6/15/05 15.21
7 11/15/98 8.56 47 3/15/02 16.30 87 7/15/05 15.72
8 12/15/98 9.09 48 4/15/02 14.80 88 8/15/05 15.21
9 1/15/99 9.03 49 5/15/02 15.34 89 9/15/05 15.21
10 2/15/99 9.23 50 6/15/02 15.01 90 10/15/05 15.72
11 3/15/99 10.40 51 7/15/02 15.62 91 11/15/05 15.21
12 4/15/99 9.48 52 8/15/02 15.19 92 12/15/05 15.72
13 5/15/99 9.35 53 9/15/02 15.26 93 1/15/06 15.21
14 6/15/99 9.28 54 10/15/02 15.79 94 2/15/06 15.21
15 7/15/99 9.83 55 11/15/02 15.28 95 3/15/06 16.84
16 8/15/99 9.71 56 12/15/02 15.79 96 4/15/06 15.21
17 9/15/99 9.88 57 1/15/03 15.28 97 5/15/06 15.72
18 10/15/99 10.30 58 2/15/03 15.28 98 6/15/06 15.21
19 11/15/99 10.01 59 3/15/03 16.92 99 7/15/06 15.72
20 12/15/99 10.59 60 4/15/03 15.28 100 8/15/06 15.21
21 1/15/00 10.48 61 5/15/03 15.79 101 9/15/06 15.21
22 2/15/00 10.68 62 6/15/03 15.28 102 10/15/06 15.72
23 3/15/00 11.60 63 7/15/03 15.79 103 11/15/06 15.21
24 4/15/00 10.93 64 8/15/03 15.28 104 12/15/06 15.72
25 5/15/00 11.35 65 9/15/03 15.28 105 1/15/07 15.21
26 6/15/00 11.22 66 10/15/03 15.79 106 2/15/07 15.21
27 7/15/00 11.83 67 11/15/03 15.28 107 3/15/07 16.84
28 8/15/00 11.65 68 12/15/03 15.79 108 4/15/07 15.21
29 9/15/00 11.82 69 1/15/04 15.28 109 5/15/07 15.72
30 10/15/00 12.30 70 2/15/04 15.28 110 6/15/07 15.21
31 11/15/00 11.95 71 3/15/04 16.33 111 7/15/07 15.72
32 12/15/00 12.59 72 4/15/04 15.28 112 8/15/07 15.21
33 1/15/01 12.42 73 5/15/04 15.79 113 9/15/07 15.21
34 2/15/01 12.61 74 6/15/04 15.28 114 10/15/07 15.72
35 3/15/01 14.15 75 7/15/04 15.79 115 11/15/07 15.23
36 4/15/01 12.87 76 8/15/04 15.28 116 12/15/07 15.75
37 5/15/01 13.35 77 9/15/04 15.28 117 1/15/08 15.23
38 6/15/01 13.15 78 10/15/04 15.79 118 2/15/08 15.21
39 7/15/01 13.83 79 11/15/04 15.26 119 3/15/08 16.25
40 8/15/01 13.58 80 12/15/04 15.76 120 4/15/08 15.20
</TABLE>
** Achieved assuming 6 month LIBOR increases to a level beyond the highest
maximum obtainable rate on the underlying adjustable rate mortgage loans; run at
the pricing speed.
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
25
<PAGE> 26
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
AVAILABLE FUNDS CAP ("AFC")**
<TABLE>
<CAPTION>
Period Pay Date AFC Period Pay Date AFC Period Pay Date AFC
------ -------- ----- ------ -------- ----- ------ -------- ---
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 5/15/08 15.71 161 9/15/11 15.20 201 1/15/15 15.25
122 6/15/08 15.20 162 10/15/11 15.71 202 2/15/15 15.25
123 7/15/08 15.71 163 11/15/11 15.20 203 3/15/15 16.88
124 8/15/08 15.20 164 12/15/11 15.71 204 4/15/15 15.25
125 9/15/08 15.20 165 1/15/12 15.20 205 5/15/15 15.75
126 10/15/08 15.71 166 2/15/12 15.20 206 6/15/15 15.25
127 11/15/08 15.20 167 3/15/12 16.25 207 7/15/15 15.75
128 12/15/08 15.71 168 4/15/12 15.20 208 8/15/15 15.25
129 1/15/09 15.20 169 5/15/12 15.71 209 9/15/15 15.25
130 2/15/09 15.20 170 6/15/12 15.20 210 10/15/15 15.75
131 3/15/09 16.83 171 7/15/12 15.71 211 11/15/15 15.25
132 4/15/09 15.20 172 8/15/12 15.20 212 12/15/15 15.75
133 5/15/09 15.71 173 9/15/12 15.20 213 1/15/16 15.25
134 6/15/09 15.20 174 10/15/12 15.71 214 2/15/16 15.25
135 7/15/09 15.71 175 11/15/12 15.21 215 3/15/16 16.30
136 8/15/09 15.20 176 12/15/12 15.71 216 4/15/16 15.25
137 9/15/09 15.20 177 1/15/13 15.23 217 5/15/16 15.75
138 10/15/09 15.71 178 2/15/13 15.25 218 6/15/16 15.25
139 11/15/09 15.20 179 3/15/13 16.88 219 7/15/16 15.75
140 12/15/09 15.71 180 4/15/13 15.25 220 8/15/16 15.25
141 1/15/10 15.20 181 5/15/13 15.75 221 9/15/16 15.25
142 2/15/10 15.20 182 6/15/13 15.25 222 10/15/16 15.75
143 3/15/10 16.83 183 7/15/13 15.75 223 11/15/16 15.25
144 4/15/10 15.20 184 8/15/13 15.25 224 12/15/16 15.75
145 5/15/10 15.71 185 9/15/13 15.25 225 1/15/17 15.25
146 6/15/10 15.20 186 10/15/13 15.75 226 2/15/17 15.25
147 7/15/10 15.71 187 11/15/13 15.25 227 3/15/17 16.88
148 8/15/10 15.20 188 12/15/13 15.75 228 4/15/17 15.25
149 9/15/10 15.20 189 1/15/14 15.25 229 5/15/17 15.75
150 10/15/10 15.71 190 2/15/14 15.25 230 6/15/17 15.25
151 11/15/10 15.20 191 3/15/14 16.88 231 7/15/17 15.75
152 12/15/10 15.71 192 4/15/14 15.25 232 8/15/17 15.25
153 1/15/11 15.20 193 5/15/14 15.75 233 9/15/17 15.25
154 2/15/11 15.20 194 6/15/14 15.25 234 10/15/17 15.75
155 3/15/11 16.83 195 7/15/14 15.75 235 11/15/17 15.25
156 4/15/11 15.20 196 8/15/14 15.25 236 12/15/17 15.75
157 5/15/11 15.71 197 9/15/14 15.25 237 1/15/18 15.24
158 6/15/11 15.20 198 10/15/14 15.75 238 2/15/18 15.24
159 7/15/11 15.71 199 11/15/14 15.25 239 3/15/18 16.88
160 8/15/11 15.20 200 12/15/14 15.75 240 4/15/18 15.24
</TABLE>
* Achieved assuming 6 month LIBOR increases to a level beyond the highest
maximum obtainable rate on the underlying adjustable rate mortgage loans; run at
the pricing speed.
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
26
<PAGE> 27
EQCC HOME EQUITY LOAN TRUST 1998-1
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1998-1
AVAILABLE FUNDS CAP ("AFC")**
<TABLE>
<CAPTION>
Period Pay Date AFC Period Pay Date AFC Period Pay Date AFC
------ -------- ----- ------ -------- ----- ------ -------- ---
<S> <C> <C> <C> <C> <C> <C> <C> <C>
241 5/15/18 15.75 281 9/15/21 15.25 321 1/15/25 15.66
242 6/15/18 15.24 282 10/15/21 15.75 322 2/15/25 15.68
243 7/15/18 15.75 283 11/15/21 15.25 323 3/15/25 17.38
244 8/15/18 15.24 284 12/15/21 15.75 324 4/15/25 15.72
245 9/15/18 15.24 285 1/15/22 15.25 325 5/15/25 16.28
246 10/15/18 15.75 286 2/15/22 15.25 326 6/15/25 15.78
247 11/15/18 15.24 287 3/15/22 16.88 327 7/15/25 16.35
248 12/15/18 15.75 288 4/15/22 15.25 328 8/15/25 15.87
249 1/15/19 15.24 289 5/15/22 15.76 329 9/15/25 15.92
250 2/15/19 15.24 290 6/15/22 15.25 330 10/15/25 16.52
251 3/15/19 16.88 291 7/15/22 15.76 331 11/15/25 16.07
252 4/15/19 15.24 292 8/15/22 15.26 332 12/15/25 16.72
253 5/15/19 15.75 293 9/15/22 15.26 333 1/15/26 16.20
254 6/15/19 15.24 294 10/15/22 15.77 334 2/15/26 16.22
255 7/15/19 15.75 295 11/15/22 15.26 335 3/15/26 17.99
256 8/15/19 15.24 296 12/15/22 15.78 336 4/15/26 16.27
257 9/15/19 15.24 297 1/15/23 15.27 337 5/15/26 16.85
258 10/15/19 15.75 298 2/15/23 15.28 338 6/15/26 16.34
259 11/15/19 15.24 299 3/15/23 16.92 339 7/15/26 16.93
260 12/15/19 15.75 300 4/15/23 15.28 340 8/15/26 16.43
261 1/15/20 15.24 301 5/15/23 15.80 341 9/15/26 16.48
262 2/15/20 15.24 302 6/15/23 15.29 342 10/15/26 17.09
263 3/15/20 16.30 303 7/15/23 15.81 343 11/15/26 16.62
264 4/15/20 15.24 304 8/15/23 15.31 344 12/15/26 17.26
265 5/15/20 15.75 305 9/15/23 15.31 345 1/15/27 16.81
266 6/15/20 15.25 306 10/15/23 15.83 346 2/15/27 16.94
267 7/15/20 15.75 307 11/15/23 15.33 347 3/15/27 18.94
268 8/15/20 15.25 308 12/15/23 15.85 348 4/15/27 17.33
269 9/15/20 15.25 309 1/15/24 15.35 349 5/15/27 18.22
270 10/15/20 15.75 310 2/15/24 15.37 350 6/15/27 18.07
271 11/15/20 15.25 311 3/15/24 16.44 351 7/15/27 19.41
272 12/15/20 15.75 312 4/15/24 15.40 352 8/15/27 20.09
273 1/15/21 15.25 313 5/15/24 15.94 353 9/15/27 23.32
274 2/15/21 15.25 314 6/15/24 15.45 354 10/15/27 45.92
275 3/15/21 16.88 315 7/15/24 16.01
276 4/15/21 15.25 316 8/15/24 15.54
277 5/15/21 15.75 317 9/15/24 15.60
278 6/15/21 15.25 318 10/15/24 16.13
279 7/15/21 15.75 319 11/15/24 15.62
280 8/15/21 15.25 320 12/15/24 16.16
</TABLE>
** Achieved assuming 6 month LIBOR increases to a level beyond the highest
maximum obtainable rate on the underlying adjustable rate mortgage loans; run at
the pricing speed.
NationsBanc Montgomery Securities LLC
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and NationsBanc
Montgomery Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction. 04/10/98
27
