<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 Exchange Act of 1934
Date of Report: June 9, 1999
(Date of earliest event reported)
Commission File No. 333-71489
EQCC Receivables Corporation
EQCC Asset Backed Corporation
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59-3170055
Delaware 59-3170052
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(State of Incorporation) (.R.S. Employer Identification No.)
10401 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
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(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 Banc of America Securities LLC, which are
hereby filed pursuant to such letter.
-2-
<PAGE> 3
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
<TABLE>
<CAPTION>
Item 601(a)
of Regulation S-K
Exhibit No. Description
- ------------------ -----------
<S> <C>
(99) Computational Materials
prepared by Banc of America
Securities LLC in
connection with EQCC Home
Equity Loan Asset Backed
Certificates, Series 1999-2
</TABLE>
-3-
<PAGE> 4
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
June 9, 1999
By: /s/ Lenore Hanapel
------------------------------------
Name: Lenore Hanapel
----------------------------------
Title: Senior Vice President
---------------------------------
EQCC ASSET BACKED CORPORATION
June 9, 1999
By: /s/ Lenore Hanapel
------------------------------------
Name: Lenore Hanapel
----------------------------------
Title: Senior Vice President
---------------------------------
-4-
<PAGE> 5
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Paper (P) or
Exhibit No. Description Electronic (E)
- ----------- ----------- --------------
<S> <C> <C>
(99) Computational Materials E
prepared by Banc of America
Securities LLC in connection with
EQCC Home Equity Loan Asset Backed
Certificates, Series 1999-2
</TABLE>
-5-
<PAGE> 1
EXHIBIT 99
BANC OF AMERICA SECURITIES
Bank of America Corporation
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RMBS NEW ISSUE TERM SHEET
EQCC HOME EQUITY LOAN TRUST
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES
SERIES 1999-2
CLASSES A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A
$870,766,765 (APPROXIMATE)
MAY 21, 1999
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Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
1
<PAGE> 2
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
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OFFERED CERTIFICATES
<TABLE>
<CAPTION>
PRINCIPAL PRINCIPAL FINAL FINAL
EXPECTED AVERAGE MODIFIED WINDOW WINDOW SCHEDULED LEGAL
CLASS RATINGS APPROXIMATE LIFE DURATION (TO MATURITY) (TO CALL) PAYMENT MATURITY *SPREAD
CLASS DESCRIPTION S&P/MOODY'S SIZE (YEARS) (YEARS) IN MONTHS IN MONTHS DATE DATE REQUIREMENT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1F SEQ AAA/Aaa 287,000,000 0.95 0.90 1-19 1-19 01/25/2001 02/25/2010 [3.40%]
A-2F SEQ AAA/Aaa 138,000,000 2.00 1.84 19-29 19-29 11/25/2001 06/25/2011 [3.40%]
A-3F SEQ AAA/Aaa 175,000,000 3.16 2.79 29-49 29-49 07/25/2003 08/25/2022 [3.40%]
A-4F SEQ AAA/Aaa 95,000,000 5.09 4.20 49-79 49-79 01/25/2006 08/25/2027 [3.40%]
A-5F SEQ AAA/Aaa 48,183,698 6.61 5.14 79-359 79-79 01/25/2006 06/25/2029 [3.40%]
A-6F NAS AAA/Aaa 82,500,000 6.15 4.84 37-128 37-79 02/25/2010 02/25/2010 [3.40%]
A-1A Floater AAA/Aaa 45,083,067 2.56 2.25 1-347 1-79 06/25/2006 06/25/2029 [3.40%]
</TABLE>
* The initial spread requirement will be 0.0% increasing to [3.40]% of
the original unpaid principal balance. Beginning month 31 the spread
requirement will be [6.80]% based on the current unpaid principal
balance.
FIXED RATE CERTIFICATES
1. Classes A-1F through A-6F are sequential pay and are backed by the Fixed
Rate Mortgage Loan Group.
2. Classes A-1F through A-6F are payable monthly starting in July 1999 with
fixed pass-through rates calculated on a (30/360) basis accruing from
6/l/99.
3. The Class A-6F will pay sequentially until the Principal Balance of such
Class has been reduced to zero. The Lockout Percentage for each Payment
Date is as follows: 0% to month 36; 45% from months 37 to 60; 80% from
months 61 to 72; 100% from months 73 to 84; and 300% thereafter.
4. Optional Call is 10% of the aggregate Principal Balance of the Mortgage
Loans. If the Optional Call is not exercised by the Servicer, the coupon on
the Class A-5F will increase by 0.50%.
5. Fixed Rate Mortgage Loan Group pricing speed: 125% Prepayment Assumption,
where 100% Prepayment Assumption is equal to 4.0% CPR in month 1, and an
additional 1.8182% in each month thereafter until month 12; on and
thereafter, 24% CPR.
6. Classes A-1F, A-2F, A-3F, A-4F, and A-6F are priced to maturity.
7. The Class A-5F is priced to call.
ADJUSTABLE RATE CERTIFICATES:
1. The Class A-lA is backed by the Adjustable Rate Mortgage Loan Group.
2. The Class A-lA is payable monthly (actual/360) starting in July 1999 with
accrual from Closing Date. The Class A-1A resets monthly to One-Month
LIBOR plus [ ]%.
3. The Class A-1A is subject to a Class A-1A Net Funds Cap Rate, as described
herein.
4. Optional Call is 10% of the aggregate Princial Balance of the Mortgage
Loans. If the Optional Call is not exercised by the Servicer, the margin on
the Class A-1A Certificates will double.
5. Adjustable Rate Mortgage Loan Group pricing speed: 30% CPR beginning in
month 1.
6. The Class A-1A is priced to to call.
Banc of America Securities LLC
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This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
2
<PAGE> 3
EQCC HOME EQUITY LOAN TRUST, SERIES
1999-2 Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
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PAYMENT RULES
<TABLE>
<CAPTION>
Group 1: Fixed Group 2: Arm
INITIAL SIZING
<S> <C> <C> <C> <C> <C>
100% A-1F(AAA) Interest A-1A
A-2F(AAA) A-6F (AAA) NAS (AAA) Interest
Rules A-3F(AAA) (AFC)
1,2, A-4F(AAA)
3 & 4 A-5F(AAA)
Ambac Assurance Corporation
(Certificate Insurer)
(Spread Account)
0% Class X
</TABLE>
<TABLE>
<S> <C>
- - RULE 1: Each Class of Class A Certificates, from the - RULE 2: Class A-6F receives no principal payments
amounts attributable to the related Mortgage Loan until the Step Down Period or the date at which
Group, is entitled to receive the related Class A Class A-1F through Class A-5F have been reduced to
Principal Remittance Amount. Each Class of Class A zero.
Certificates, from the amounts attributable to the - RULE 3: Excess Interest is used to pay the Spread
related Mortgage Loan Group, is entitled to receive Account.
the related Interest Remittance Amount. - RULE 4: After the Spread Account Requirement is
satisfied, Excess Interest is paid to the Class X
Certificate.
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
3
<PAGE> 4
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
SUMMARY OF TERMS
DEPOSITORS: EQCC Receivables Corporation and EQCC Asset Backed Corporation
are wholly owned subsidiaries of EquiCredit Corporation, which
itself is an indirect wholly owned subsidiary of Bank of America
Corporation.
SERVICER: EquiCredit Corporation of America, a wholly owned subsidiary of
EquiCredit Corporation, which itself is an indirect wholly owned
subsidiary of Bank of America Corporation.
As of March 31, 1999, EquiCredit serviced a total loan portfolio
of 150,805 mortgage loans, having an aggregate unpaid principal
balance of $8.0 billion. EquiCredit's portfolio consists of loans
serviced for itself as well as investors consisting primarily of
major commercial banks, savings and loan associations, brokerage
houses and Fannie Mae.
TRUSTEE: U.S. Bank National Association
OFFERING: Public; subject to a variance of plus or minus 5.0%.
MANAGERS: Banc of America Securities LLC (Lead and Book Manager)
Merrill Lynch & Co.
EXPECTED
CUT-OFF DATE: June 1, 1999
EXPECTED
PRICING DATE: May [ ], 1999
EXPECTED
CLOSING DATE: June 17, 1999
SETTLEMENT: Fixed Rate Certificates settle with accrued interest.
Adjustable Rate Certificates settle flat; without accrued
interest.
REGISTRATION: Certificates will be available in book-entry form through DTC,
Euroclear or CEDEL.
PAYMENT DATE: The 25th of each month (or net succeeding business day),
beginning July 26, 1999.
INTEREST
REMITTANCE
AMOUNT: With respect to each Payment Date and each Class of Class A
Certificates, interest accrued during the Accrual Period at the
related Pass-Through Rate on the related Principal Balance
outstanding on the immediately preceding Payment Date or the
related Original Principal Balance, in the case of the initial
Accrual Period.
ACCRUAL
PERIOD: Each period relating to the accrual of interest. Interest on each
Class of Fixed Rate Certificates will accrue from and including
the first day of each month, commencing June 1, 1999 to and
including the last day of such month. Interest on the Class A-1A
Certificates will accrue from and including the Closing Date, in
the case of the initial Payment Date, or from and including the
most recent Payment Date on which interest has been paid, to but
excluding the next succeeding Payment Date.
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
4
<PAGE> 5
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A
Certificates $870,766,765 (approximate)
- -------------------------------------------------------------------------------
INTEREST CALCULATION: The Class A-1F through A-6F Certificates are payable
(FIXED RATE monthly starting in July 1999 with fixed Pass-Through
CERTIFICATES) Rates calculated on a (30/360) basis. If the Optional
Call is not exercised by the Servicer, the coupon on the
Class A-5F will increase by 0.50%.
AVAILABLE
FUNDS CAP: All Fixed Rate Certificate coupons may be subject to the
(FIXED RATE Fixed Rate Net Funds Cap Rate. The Fixed Rate Net Funds
CERTIFICATES) Cap Rate is a rate equal to the weighted average of the
Mortgage Interest Rates on the Mortgage Loans in the
Fixed Rate Mortgage Loan Group less the sum of the
Servicing Fee and the Certificate Insurer Fee (together,
the "Ongoing Fees").
INTEREST CARRYOVER: The Fixed Rate Interest Carryover for any Payment Date
(FIXED RATE and any Class of Fixed Rate Certificates will equal (i)
CERTIFICATES) the difference between (a) the amount of interest such
Class would be entitled to receive on such Payment Date
without regard to the applicable Fixed Rate Net Funds
Cap Rate and (b) the amount of interest actually
distributed to such Class on such Payment Date, plus
(ii) the portion of any amount calculated pursuant to
clause (i) remaining unpaid from prior Payment Dates
(and interest accrued thereon at the applicable
Pass-Through Rate).
INTEREST CALCULATION: The Class A-lA Certificates are payable monthly starting
(ADJUSTABLE RATE in July 1999 and reset monthly on an actual/360 basis to
CERTIFICATES) One-Month LIBOR plus [ ]%. If the Optional Call is not
exercised by the Servicer, the margin on the Class A-1A
Certificates will double.
AVAILABLE
FUNDS CAP: The Class A-1A Certificates will be subject to a Class
(ADJUSTABLE RATE A-1A Net Funds Cap Rate equal to the weighted average
CERTIFICATES) of the Mortgage Interest Rates on the Mortgage Loans
in the Adjustable Rate Mortgage Loan Group as of the
first day of the related Accrual Period less: (a) an
amount, expressed as an annual percentage rate across
the mortgage pool balance, equal to the sum of the
Servicing Fee and the Certificate Insurer Fee (together,
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.
INTEREST CARRYOVER: The Adjustable Rate Interest Carryover for any Payment
(ADJUSTABLE RATE Date shall equal (i) the difference between (a) the
CERTIFICATES) amount of interest the Class A-lA Certificates would be
entitled to receive on such Payment Date without regard
to the Net Funds Cap Rate and (b) the amount of interest
actually distributed to the Class A-1A Certificates,
plus (ii) the portion of any amount calculated and
unpaid from prior payment dates (and interest accrued at
the then applicable Class A-lA Certificate rate).
OPTIONAL CALL: 10% optional clean-up call.
DENOMINATIONS: $1,000 minimum and integral multiples of $1 in excess
thereof
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 Offered Certificates WILL NOT constitute "mortgage
related securities" for purposes of SMMEA.
CERTIFICATE
INSURER: Ambac Assurance Corporation ("Ambac"); Ambac's financial
strength is rated "AAA" by Standard & Poor's Rating
Service, "Aaa" by Moody's Investors Service and "AAA" by
Fitch IBCA, Inc.
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
5
<PAGE> 6
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
SECURITIES
INSURANCE POLICY: The Securities Insurance Policy will provide 100%
coverage of timely interest and ultimate principal
payments due on the Certificates.
RATING AGENCIES: S&P and Moody's.
INITIAL MORTGAGE
LOAN GROUPS: The statistical information presented in this Term Sheet
regarding the Initial Mortgage Loans is based on
balances as of May 12, 1999. The Initial Mortgage Loans
consist of conventional, fully amortizing, first and
second lien, fixed and adjustable rate closed end, one-
to four-family residential mortgage loans. The total
Initial Mortgage Loans will consist of 13,221 loans,
with a principal balance of approximately $870,766,767.
The Initial Mortgage Loans have been divided into two
separate mortgage loan groups. The Fixed Rate Mortgage
Loan Group will consist of 12,770 fixed rate, agency
conforming balance mortgage loans with a principal
balance of approximately $825,683,699. The Adjustable
Rate Mortgage Loan Group will consist of 451 adjustable
rate mortgage loans with a principal balance of
approximately $45,083,068.
FINAL MORTGAGE
LOAN GROUPS: Final Mortgage Loan Groups will be based on balances as
of June 1, 1999. The collateral compositions of the
pools are expected to be similar to the Initial Mortgage
Loan Groups.
CONTACT: Banc of America Securities LLC
Mortgage Syndicate
Chris Hentemann (email: [email protected])
Bill Hale (email: [email protected])
Mark Ryan (email: [email protected])
Alex Cha (email: [email protected])
(704) 386-7744
(704) 335-5904 (Fax)
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
6
<PAGE> 7
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- --------------------------------------------------------------------------------
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 $825,683,698.82
Number of Loans 12,770
Average Original Loan Balance $64,767.83 $6,300.00 $283,500.00
Average Current Loan Balance $64,658.08 $1,400.71 $283,500.00
Weighted Average Combined Current LTV 79.85% 3.36% 100.00%
Weighted Average Gross Coupon 10.28% 5.75% 19.45%
Weighted Average Remaining Term to Maturity (months) 219.21 10 360
Weighted Average Original Term (months) 219.99 24 360
Weighted Average Credit Score* 614
</TABLE>
<TABLE>
<CAPTION>
PERCENT OF
CUT-OFF DATE
RANGE PRINCIPAL BALANCE
------- -----------------
<S> <C> <C>
Level Pay Mortgage Loans 56.56%
Balloon Mortgage Loans 43.44%
Lien Position First 90.92%
Second 9.08%
Property Type Single Family 86.35%
2-4 Family 10.35%
Condominium 1.23%
Townhouse 1.21%
Manufactured 0.58%
Others 0.28%
Occupancy Status Owner Occupied 91.93%
Non-owner Occupied 2.22%
Second Home 5.85%
Geographic Concentration New York 10.65%
Ohio 10.57%
Florida 10.14%
Pennsylvania 7.83%
Illinois 5.22%
Other 55.58%
Credit Grade A 53.48%
B 28.76%
C 17.22%
D 0.55%
</TABLE>
99.74% of the Fixed Rate Mortgage Loans have Credit Scores.
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
7
<PAGE> 8
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
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>
$0.01 to 20,000.00 834 $13,217,908.89 1.60%
20,000.01 to 30,000.00 1,497 38,943,328.89 4.72
30,000.01 to 40,000.00 1,630 57,625,487.73 6.98
40,000.01 to 50,000.00 1,723 77,688,289.55 9.41
50,000.01 to 60,000.00 1,570 86,825,763.62 10.52
60,000.01 to 70,000.00 1,197 77,879,179.68 9.43
70,000.01 to 80,000.00 937 70,468,618.44 8.53
80,000.01 to 90,000.00 723 61,505,044.36 7.45
90,000.01 to 100,000.00 586 55,840,472.48 6.76
100,000.01 to 110,000.00 420 44,103,900.35 5.34
110,000.01 to 120,000.00 412 47,400,691.84 5.74
120,000.01 to 130,000.00 264 32,996,201.27 4.00
130,000.01 to 140,000.00 231 31,203,233.73 3.78
140,000.01 to 150,000.00 199 28,937,765.74 3.50
150,000.01 to 160,000.00 1ll 17,294,169.56 2.09
160,000.01 to 170,000.00 87 14,372,354.12 1.74
170,000.01 to 180,000.00 97 17,038,322.86 2.06
180,000.01 to 190,000.00 52 9,626,179.66 1.17
190,000.01 to 200,000.00 86 16,937,751.68 2.05
200,000.01 to 225,000.00 61 12,947,574.72 1.57
225,000.01 to 250,000.00 41 9,626,294.50 1.17
250,000.01 to 275,000.00 8 2,081,915.15 0.25
275,000.01 to 300,000.00 4 1,123,250.00 0.14
----- --------------- ------
Total 12,770 $825,683,698.82 100.00%
====== =============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
8
<PAGE> 9
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- --------------------------------------------------------------------------------
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>
New York 920 $87,934,178.86 10.65%
Ohio 1,352 87,310,860.42 10.57
Florida 1,454 83,749,400.61 10.14
Pennsylvania 1,134 64,640,474.52 7.83
Illinois 608 43,101,013.81 5.22
Michigan 565 35,929,936.33 4.35
Maryland 466 29,420,674.68 3.56
Massachusetts 408 28,633,798.65 3.47
Connecticut 334 27,387,383.97 3.32
Indiana 490 24,699,423.88 2.99
Tennessee 363 22,037,184.15 2.67
California 352 21,049,670.64 2.55
North Carolina 320 19,349,773.05 2.34
Rhode Island 256 19,008,174.38 2.30
Georgia 310 18,336,663.21 2.22
Virginia 297 18,117,187.24 2.19
Arizona 236 17,954,727.65 2.17
South Carolina 292 17,477,152.38 2.12
Louisiana 320 16,891,822.01 2.05
Minnesota 258 16,666,607.72 2.02
Others* 2,035 125,987,590.66 15.26
------ --------------- ------
TOTAL 12,770 $825,683,698.82 100.00%
====== =============== ======
</TABLE>
* State or Territory Concentration less than or equal to 2.0%
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
9
<PAGE> 10
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
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
- -------------------- -------------- ---------------------- -----------------------
<S> <C> <C> <C>
0.01% to 5.00% 2 $ 6,346.92 0.00%
5.01% to 10.00% 1 10,893.37 0.00
10.01% to 15.00% 8 304,002.37 0.04
15.01% to 20.00% 13 338,898.16 0.04
20.01% to 25.00% 36 1,093,730.18 0.13
25.01% to 30.00% 47 1,733,426.36 0.21
30.01% to 35.00% 69 2,366,920.26 0.29
35.01% to 40.00% 96 4,200,739.12 0.51
40.01% to 45.00% ill 4,260,155.82 0.52
45.01% to 50.00% 177 7,783,472.32 0.94
50.01% to 55.00% 198 9,284,090.73 1.12
55.01% to 60.00% 317 16,737,963.92 2.03
60.01% to 65.00% 497 27,994,586.03 3.39
65.01% to 70.00% 793 47,852,756.71 5.80
70.01% to 75.00% 1,242 82,405,243.45 9.98
75.01% to 80.00% 3,031 207,631,185.13 25.15
80.01% to 85.00% 3,008 212,082,025.06 25.69
85.01% to 90.00% 2,075 147,690,172.70 17.89
90.01% to 95.00% 610 36,841,555.35 4.46
95.01% to 100.00% 439 15,065,534.86 1.82
------ --------------- ------
TOTAL 12,770 $825,683,698.82 100.00%
====== =============== ======
</TABLE>
CREDIT SCORE
<TABLE>
<CAPTION>
PERCENT OF FIXED RATE
RANGE OF NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
CREDIT SCORES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------- -------------- ---------------------- ---------------------
<S> <C> <C> <C>
675+ 1,977 $126,252,166.73 15.29%
650-674 1,573 99,541,266.55 12.06
625-649 1,839 120,471,148.06 14.59
600-624 1,834 122,950,472.62 14.89
575-599 1,947 127,769,520.72 15.47
550-574 1,605 104,357,725.39 12.64
525-549 1,271 79,036,348.36 9.57
500-524 686 42,814,754.57 5.19
<500 6 355,963.70 0.04
Unknown 32 2,134,332.12 0.26
------ --------------- ------
TOTAL 12,770 $825,683,698.82 100.00%
====== =============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
10
<PAGE> 11
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
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
----------------- -------------- ---------------------- ----------------------
<S> <C> <C> <C>
Less than 6.501% 31 $2,693,239.43 0.33%
6.501% to 6.750% 30 2,420,564.03 0.29
6.751% to 7.000% 47 4,210,518.09 0.51
7.001% to 7.250% 52 4,899,671.02 0.59
7.251% to 7.500% 87 7,627,494.34 0.92
7.501% to 7.750% 149 12,331,227.98 1.49
7.751% to 8.000% 203 18,940,424.40 2.29
8.001% to 8.250% 155 13,195,291.09 1.60
8.251% to 8.500% 363 28,877,660.46 3.50
8.501% to 8.750% 381 31,788,105.83 3.85
8.751% to 9.000% 490 40,549,258.19 4.91
9.001% to 9.250% 468 37,828,834.01 4.58
9.251% to 9.500% 566 44,508,025.68 5.39
9.501% to 9.750% 741 55,601,478.02 6.73
9.751% to 10.000% 889 65,997,217.16 7.99
10.001% to 10.250% 702 49,207,909.66 5.96
10.251% to 10.500% 904 63,388,677.78 7.68
10.501% to 10.750% 893 58,068,582.69 7.03
10.751% to 11.000% 822 55,598,305.83 6.73
11.001% to 11.250% 640 37,802,444.92 4.58
11.251% to 11.500% 621 35,527,153.72 4.30
11.501% to 11.750% 638 33,750,919.89 4.09
11.751% to 12.000% 491 26,071,430.62 3.16
12.001% to 12.250% 375 17,285,179.94 2.09
12.251% to 12.500% 351 14,128,944.13 1.71
12.501% to 12.750% 373 15,817,029.10 1.92
12.751% to 13.000% 345 13,019,806.42 1.58
13.001% to 13.250% 253 8,440,015.01 1.02
13.251% to 13.500% 163 5,966,884.87 0.72
13.501% to 13.750% 178 7,410,775.12 0.90
13.751% to 14.000% 123 4,191,343.71 0.51
14.001% to 14.250% 63 2,737,822.63 0.33
14.251% to 14.500% 40 1,330,779.49 0.16
14.501% to 14.750% 25 795,764.22 0.10
14.751% to 15.000% 30 613,550.26 0.07
15.001% to 15.250% 18 534,492.45 0.06
15.251% to 15.500% 11 254,166.40 0.03
Greater than 15.500% 59 2,272,710.23 0.28
------ --------------- ------
TOTAL 12,770 $825,683,698.82 100.00%
====== =============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
11
<PAGE> 12
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
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
----------------- --------------- ---------------------- ----------------------
<S> <C> <C> <C>
13 to 24 1 $ 153,000.00 0.02%
37 to 48 1 14,755.51 0.00
49 to 60 23 728,622.65 0.09
61 to 72 2 47,007.25 0.01
73 to 84 335 23,847,323.20 2.89
85 to 96 4 100,981.04 0.01
97 to 108 5 163,894.72 0.02
109 to 120 3,614 278,059,184.16 33.68
121 to 132 2 222,802.25 0.03
133 to 144 9 295,732.03 0.04
145 to 156 2 198,506.24 0.02
157 to 168 9 219,606.72 0.03
169 to 180 4,232 199,227,859.41 24.13
181 to 192 2 145,912.45 0.02
193 to 204 1 105,600.00 0.01
229 to 240 907 47,233,056.63 5.72
289 to 300 47 2,587,452.44 0.31
349 to 360 3,574 272,332,402.12 32.98
----- --------------- ------
TOTAL 12,770 $825,683,698.82 100.00%
====== =============== ======
</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 ORGANIZATION MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------------ -------------- ---------------------- ----------------------
<S> <C> <C> <C>
1 to 6 12,706 $824,135,175.95 99.81%
7 to 12 7 195,535.11 0.02
Greater than 12 57 1,352,987.76 0.16
------ --------------- ------
TOTAL 12,770 $825,683,698.82 100.00%
====== =============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
12
<PAGE> 13
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
SUMMARY
<TABLE>
<CAPTION>
TOTAL MINIMUM MAXIMUM
-------------- ---------- -----------
<S> <C> <C> <C>
Cut-off Date Aggregate Principal Balance $45,083,067.92
Number of Loans 451
Average Original Loan Balance $100,333.18 $25,500.00 $350,000.00
Average Current Loan Balance $99,962.46 $1,259.01 $350,000.00
Weighted Average Combined LTV 82.36% 0.70% 99.00%
Weighted Average Gross Coupon 8.80% 6.25% 14.20%
Weighted Average Remaining Term to Maturity (months) 169.49 65 360
Weighted Average Original Term (months) 170.27 84 360
Weighted Average Gross Margin 5.73% 3.60% 9.80%
Weighted Average Maximum Interest Rate 18.78% 15.70% 25.15%
Weighted Average Minimum Interest Rate 8.79% 6.25% 14.20%
Weighted Average Periodic Cap 1.00% 1.00% 1.00%
Weighted Average First Adjustment Cap 1.00% 1.00% 1.00%
Weighted Average Credit Score* 604
</TABLE>
<TABLE>
<CAPTION>
PERCENT OF
CUT-OFF DATE
RANGE PRINCIPAL BALANCE
----- -----------------
<S> <C> <C>
Level Pay Mortgage Loans 23.29%
Balloon Mortgage Loans 76.71%
Product Type 6 Month LIBOR 100.00%
Lien Position First 100.00%
Property Type Single Family 92.08%
2-4 Family 5.54%
Condominium 1.07%
Townhouse 0.91%
Multiple Property 0.22%
Others 0.19%
Occupancy Status Owner Occupied 97.94%
Non-owner Occupied 1.01%
Second Home 1.05%
Geographic Concentration Ohio 16.79%
Michigan 10.59%
Illinois 9.59%
Missouri 6.39%
Connecticut 6.16%
Other 50.48%
Credit Grade A 44.44%
B 21.84%
C 33.73%
</TABLE>
* All of the Adjustable Rate Mortgage Loans have Credit Scores.
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
13
<PAGE> 14
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- --------------------------------------------------------------------------------
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
---------------------- --------------- ----------------------- --------------------------
<S> <C> <C> <C>
$0.01 to 20,000.00 1 $1,259.01 0.00%
20,000.01 to 30,000.00 2 51,461.28 0.11
30,000.01 to 40,000.00 11 393,470.00 0.87
40,000.01 to 50,000.00 26 1,186,564.16 2.63
50,000.01 to 60,000.00 48 2,663,700.22 5.91
60,000.01 to 70,000.00 52 3,421,315.20 7.59
70,000.01 to 80,000.00 63 4,739,248.51 10.51
80,000.01 to 90,000.00 42 3,571,314.35 7.92
90,000.01 to 100,000.00 37 3,521,141.42 7.81
100,000.01 to 110,000.00 26 2,721,715.54 6.04
110,000.01 to 120,000.00 24 2,767,430.54 6.14
120,000.01 to 130,000.00 20 2,508,028.48 5.56
130,000.01 to 140,000.00 18 2,433,517.77 5.40
140,000.01 to 150,000.00 15 2,206,984.36 4.90
150,000.01 to 160,000.00 10 1,545,018.31 3.43
160,000.01 to 170,000.00 13 2,147,555.16 4.76
170,000.01 to 180,000.00 8 1,414,384.67 3.14
180,000.01 to 190,000.00 8 1,485,060.41 3.29
190,000.01 to 200,000.00 8 1,559,904.37 3.46
200,000.01 to 225,000.00 6 1,267,689.63 2.81
225,000.01 to 250,000.00 6 1,414,140.15 3.14
250,000.01 to 275,000.00 3 775,851.38 1.72
300,000.01 to 325,000.00 2 609,063.00 1.35
325,000.01 to 350,000.00 2 677,250.00 1.50
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
14
<PAGE> 15
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- --------------------------------------------------------------------------------
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 TERRITORY MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------------ -------------- ---------------------- --------------------------
<S> <C> <C> <C>
OHIO 92 $7,569,857.94 16.79%
Michigan 46 4,772,591.95 10.59
Illinois 37 4,325,074.45 9.59
Missouri 32 2,882,991.37 6.39
Connecticut 21 2,775,996.72 6.16
North Carolina 22 2,014,023.17 4.47
Maryland 15 2,008,911.68 4.46
Florida 23 1,965,968.54 4.36
California 11 1,656,524.70 3.67
New York 9 1,438,706.97 3.19
Wisconsin 14 1,432,015.77 3.18
South Carolina 16 1,413,718.28 3.14
Louisiana 12 1,306,612.57 2.90
Kentucky 12 1,162,133.08 2.58
Others* 89 8,357,940.73 18.54
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
* State or Territory Concentration less than or equal to 2.0%
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
15
<PAGE> 16
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- --------------------------------------------------------------------------------
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
-------------------- ---------------- ----------------- -----------------
<S> <C> <C> <C>
0.01% to 5.00% 1 $ 1,259.01 0.00%
35.01% to 40.00% 2 169,414.06 0.38
40.01% to 45.00% 1 170,000.00 0.38
45.01% to 50.00% 2 113,500.00 0.25
55.01% to 60.00% 8 580,676.90 1.29
60.01% to 65.00% 7 523,351.52 1.16
65.01% to 70.00% 15 1,720,490.88 3.82
70.01% to 75.00% 37 3,080,944.61 6.83
75.01% to 80.00% 128 11,819,516.43 26.22
80.01% to 85.00% 151 15,367,743.79 34.09
85.01% to 90.00% 78 8,764,427.43 19.44
90.01% to 95.00% 19 2,533,148.29 5.62
95.01% to 100.00% 2 238,595.00 0.53
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
CREDIT SCORE
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
RANGE OF NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
CREDIT SCORES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
- ------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
675+ 56 $ 6,470,967.65 14.35%
650-674 36 4,186,285.25 9.29
625-649 60 6,632,822.40 14.71
600-624 60 6,144,760.64 13.63
575-599 61 5,889,845.58 13.06
550-574 53 4,559,508.50 10.11
525-549 78 7,034,693.89 15.60
500-524 47 4,164,184.01 9.24
--- ----------------- ------
TOTAL 451 $ 45,083,067.92 100.00%
=== ================= ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
16
<PAGE> 17
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
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>
6.001% to 6.250% 1 $ 81,922.18 0.18%
6.501% to 6.750% 8 741,139.13 1.64
6.751% to 7.000% 9 1,126,940.80 2.50
7.001% to 7.250% 15 1,559,835.98 3.46
7.251% to 7.500% 22 1,921,135.00 4.26
7.501% to 7.750% 29 3,608,170.74 8.00
7.751% to 8.000% 42 4,261,424.12 9.45
8.001% to 8.250% 31 3,148,528.61 6.98
8.251% to 8.500% 46 5,309,578.12 11.78
8.501% to 8.750% 35 3,907,998.43 8.67
8.751% to 9.000% 22 3,082,389.74 6.84
9.001% to 9.250% 18 1,771,759.11 3.93
9.251% to 9.500% 37 3,562,896.10 7.90
9.501% to 9.750% 30 2,544,118.60 5.64
9.751% to 10.000% 23 1,877,217.65 4.16
10.001% to 10.250% 6 350,910.23 0.78
10.251% to 10.500% 23 2,324,065.75 5.16
10.501% to 10.750% 27 1,989,673.29 4.41
10.751% to 11.000% 3 275,109.40 0.61
11.001% to 11.250% 5 320,218.37 0.71
11.251% to 11.500% 2 91,350.00 0.20
11.501% to 11.750% 1 55,250.00 0.12
12.001% to 12.250% 3 180,736.57 0.40
12.501% to 12.750% 4 262,300.00 0.58
13.001% to 13.250% 4 406,800.00 0.90
13.251% to 13.500% 1 65,600.00 0.15
13.751% to 14.000% 1 116,000.00 0.26
14.001% to 14.250% 3 140,000.00 0.31
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
17
<PAGE> 18
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
RANGE OF MAXIMUM MORTGAGE INTEREST RATES
<TABLE>
<CAPTION>
RANGE OF MAXIMUM PERCENT OF ADJUSTABLE RATE
MORTGAGE NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
INTEREST RATES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
-------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
15.501% to 16.000% 3 $ 343,942.76 0.76%
16.001% to 16.500% 7 752,082.22 1.67
16.501% to 17.000% 14 1,200,495.59 2.66
17.001% to 17.500% 45 4,587,831.79 10.18
17.501% to 18.000% 63 6,881,897.86 15.26
18.001% to 18.500% 69 7,367,929.67 16.34
18.501% to 19.000% 84 9,457,810.24 20.98
19.001% to 19.500% 33 3,489,484.10 7.74
19.501% to 20.000% 36 2,999,238.36 6.65
20.001% to 20.500% 29 2,663,540.49 5.91
20.501% to 21.000% 34 2,540,451.56 5.64
21.001% to 21.500% 11 1,128,208.10 2.50
21.501% to 22.000% 11 742,503.40 1.65
22.001% to 22.500% 3 264,248.03 0.59
22.501% to 23.000% 2 118,500.00 0.26
23.001% to 23.500% 2 242,181.75 0.54
23.501% to 24.000% 1 48,750.00 0.11
24.001% to 24.500% 2 101,867.00 0.23
24.501% to 25.000% 1 96,900.00 0.21
25.001% to 25.500% 1 55,205.00 0.12
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
18
<PAGE> 19
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
RANGE OF MINIMUM MORTGAGE INTEREST RATES
<TABLE>
<CAPTION>
RANGE OF MINIMUM PERCENT OF ADJUSTABLE RATE
MORTGAGE NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
INTEREST RATES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
-------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
Less than 6.501% 1 $ 81,922.18 0.18%
6.501% to 6.750% 8 741,139.13 1.64
6.751% to 7.000% 9 1,126,940.80 2.50
7.001% to 7.250% 16 1,663,770.04 3.69
7.251% to 7.500% 24 2,034,094.85 4.51
7.501% to 7.750% 29 3,608,170.74 8.00
7.751% to 8.000% 42 4,261,424.12 9.45
8.001% to 8.250% 32 3,298,751.92 7.32
8.251% to 8.500% 46 5,348,196.65 11.86
8.501% to 8.750% 35 3,907,998.43 8.67
8.751% to 9.000% 22 3,082,389.74 6.84
9.001% to 9.250% 17 1,593,892.16 3.54
9.251% to 9.500% 36 3,412,576.73 7.57
9.501% to 9.750% 30 2,544,118.60 5.64
9.751% to 10.000% 22 1,875,958.64 4.16
10.001% to 10.250% 5 274,619.81 0.61
10.251% to 10.500% 23 2,324,065.75 5.16
10.501% to 10.750% 27 1,989,673.29 4.41
10.751% to 11.000% 3 275,109.40 0.61
11.001% to 11.250% 5 320,218.37 0.71
11.251% to 11.500% 2 91,350.00 0.20
11.501% to 11.750% 1 55,250.00 0.12
12.001% to 12.250% 3 180,736.57 0.40
12.501% to 12.750% 4 262,300.00 0.58
13.001% to 13.250% 4 406,800.00 0.90
13.251% to 13.500% 1 65,600.00 0.15
13.751% to 14.000% 1 116,000.00 0.26
14.001% to 14.250% 3 140,000.00 0.31
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
19
<PAGE> 20
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
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
--------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
73 to 84 59 $ 6,444,374.04 14.29%
109 to 120 261 25,959,780.03 57.58
169 to 180 27 2,901,559.05 6.44
229 to 240 3 185,351.58 0.41
349 to 360 101 9,592,003.22 21.28
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
MONTHS SINCE ORIGINATION
<TABLE>
<CAPTION>
PERCENT OF ADJUSTABLE RATE
RANGE OF MONTHS NUMBER OF AGGREGATE CUT-OFF DATE GROUP BY CUT-OFF DATE
SINCE ORGANIZATION MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------------ -------------- ----------------- -----------------
<S> <C> <C> <C>
1 to 6 445 $44,461,697.27 98.62%
7 to 12 4 543,821.22 1.21
Greater than 12 2 77,549.43 0.17
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
20
<PAGE> 21
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
DESCRIPTION OF THE COLLATERAL
ADJUSTABLE RATE MORTGAGE LOAN GROUP
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
------------- -------------- ----------------- -----------------
<S> <C> <C> <C>
3.501% to 3.750% 4 $ 322,572.18 0.72%
3.751% to 4.000% 8 878,414.65 1.95
4.001% to 4.250% 10 1,156,496.38 2.57
4.251% to 4.500% 17 1,374,445.78 3.05
4.501% to 4.750% 40 4,456,766.90 9.89
4.751% to 5.000% 60 6,917,454.29 15.34
5.001% to 5.250% 39 3,798,213.26 8.42
5.251% to 5.500% 57 6,084,749.60 13.50
5.501% to 5.750% 28 3,608,467.19 8.00
5.751% to 6.000% 31 3,155,089.30 7.00
6.001% to 6.250% 14 1,346,429.48 2.99
6.251% to 6.500% 26 2,349,623.38 5.21
6.501% to 6.750% 22 1,936,638.60 4.30
6.751% to 7.000% 7 618,599.91 1.37
7.001% to 7.250% 3 223,157.52 0.49
7.251% to 7.500% 14 1,405,198.82 3.12
7.501% to 7.750% 45 3,399,920.45 7.54
7.751% to 8.000% 6 537,139.91 1.19
8.001% to 8.250% 3 193,886.57 0.43
8.251% to 8.500% 2 242,181.75 0.54
8.501% to 8.750% 2 208,800.00 0.46
8.751% to 9.000% 8 564,072.00 1.25
9.251% to 9.500% 1 116,000.00 0.26
9.751% to 10.000% 4 188,750.00 0.42
--- --------------- ------
TOTAL 451 $ 45,083,067.92 100.00%
=== =============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
21
<PAGE> 22
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- --------------------------------------------------------------------------------
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>
March 1999 1 $ 76,290.42 0.17%
May 1999 1 68,627.42 0.15
June 1999 3 366,709.60 0.81
July 1999 2 97,095.51 0.22
August 1999 7 687,114.34 1.52
September 1999 103 10,568,404.16 23.44
October 1999 145 15,009,996.42 33.29
November 1999 147 13,996,255.05 31.05
December 1999 42 4,212,575.00 9.34
--- -------------- ------
TOTAL 451 $45,083,067.92 100.00%
=== ============== ======
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
22
<PAGE> 23
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A
Certificates $870,766,765 (approximate)
- -------------------------------------------------------------------------------
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 5.9777 5.8027 5.7261 5.6593 5.6000 5.5464 5.4524
Average Life (yrs.) 8.46 1.83 1.36 1.11 0.95 0.85 0.71
Modified Duration (yrs.) 6.30 1.67 1.26 1.04 0.90 0.80 0.68
First Principal Payment Date 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99
Last Principal Payment Date 2/25/10 12/25/02 11/25/01 5/25/01 1/25/01 11/25/00 7/25/00
Payment Windows (mos.) 128 42 29 23 19 17 13
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.1399 6.0876 6.0468 6.0078 5.9710 5.9356 5.8690
Average Life (yrs.) 10.81 4.56 3.15 2.43 2.00 1.71 1.34
Modified Duration (yrs.) 7.71 3.87 2.79 2.20 1.84 1.58 1.26
First Principal Payment Date 2/25/10 12/25/02 11/25/01 5/25/01 1/25/01 11/25/00 7/25/00
Last Principal Payment Date 6/25/11 3/25/05 5/25/03 5/25/02 11/25/01 6/25/01 1/25/01
Payment Windows (mos.) 17 28 19 13 11 8 7
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.3256 6.3008 6.2731 6.2451 6.2170 6.1891 6.1350
Average Life (yrs.) 16.93 8.38 5.40 3.99 3.16 2.62 1.97
Modified Duration (yrs.) 10.05 6.30 4.44 3.43 2.79 2.35 1.80
First Principal Payment Date 6/25/11 3/25/05 5/25/03 5/25/02 11/25/01 6/25/01 1/25/01
Last Principal Payment Date 8/25/22 2/25/10 2/25/07 9/25/04 7/25/03 10/25/02 11/25/01
Payment Windows (mos.) 135 60 46 29 21 17 11
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.6472 6.6272 6.6207 6.6030 6.5790 6.5563 6.5079
Average Life (yrs.) 25.87 11.40 9.75 7.06 5.09 4.04 2.82
Modified Duration (yrs.) 12.10 7.79 6.99 5.45 4.20 3.45 2.50
First Principal Payment Date 8/25/22 2/25/10 2/25/07 9/25/04 7/25/03 10/25/02 11/25/01
Last Principal Payment Date 8/25/27 6/25/13 2/25/10 5/25/09 1/25/06 5/25/04 10/25/02
Payment Windows (mos.) 61 41 37 57 31 20 12
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
23
<PAGE> 24
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
<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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 7.0955 7.1978 7.1403 7.1650 7.1754 7.1311 6.9910
Average Life (yrs.) 29.10 18.72 14.14 11.86 9.78 7.29 3.87
Modified Duration (yrs.) 12.10 10.00 8.59 7.75 6.80 5.43 3.29
First Principal Payment Date 8/25/27 6/25/13 2/25/10 5/25/09 1/25/06 5/25/04 10/25/02
Last Principal Payment Date 5/25/29 5/25/29 5/25/29 5/25/29 5/25/29 5/25/29 1/25/04
Payment Windows (mos.) 22 192 232 241 281 301 16
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.7269 6.7127 6.7071 6.7022 6.6980 6.6947 6.6851
Average Life (yrs.) 9.98 7.67 7.01 6.52 6.15 5.89 5.25
Modified Duration (yrs.) 7.05 5.76 5.37 5.07 4.84 4.67 4.25
First Principal Payment Date 7/25/02 7/25/02 7/25/02 7/25/02 7/25/02 7/25/02 7/25/02
Last Principal Payment Date 2/25/10 2/25/10 2/25/10 2/25/10 2/25/10 2/25/10 5/25/27
Payment Windows (mos.) 92 92 92 92 92 92 299
A-LA (TO MATURITY)
- -----------------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% CPR 12.0% CPR 18.0% CPR 24.0% CPR 30.0% CPR 33.0% CPR 48.0% CPR
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 5.2575 5.2631 5.2605 5.2646 5.2692 5.2737 5.2728
Average Life (yrs.) 12.05 5.82 4.40 3.43 2.75 2.48 1.58
Modified Duration (yrs.) 8.33 4.59 3.60 2.89 2.37 2.16 1.43
First Principal Payment Date 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99
Last Principal Payment Date 1/25/29 1/25/29 1/25/29 1/25/29 5/25/28 2/25/28 2/25/23
Payment Windows (mos.) 355 355 355 355 347 344 284
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
24
<PAGE> 25
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
BOND SUMMARY
------------
<TABLE>
<CAPTION>
A-1F (TO CALL)
- -----------------------------------------------------------------------------------------------------------------------------------
<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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 5.9777 5.8027 5.7261 5.6593 5.6000 5.5464 5.4524
Average Life (yrs.) 8.46 1.83 1.36 1.11 0.95 0.85 0.71
Modified Duration (yrs.) 6.30 1.67 1.26 1.04 0.90 0.80 0.68
First Principal Payment Date 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99
Last Principal Payment Date 2/25/10 12/25/02 11/25/01 5/25/01 1/25/01 11/25/00 7/25/00
Payment Windows (mos.) 128 42 29 23 19 17 13
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.1399 6.0876 6.0468 6.0078 5.9710 5.9356 5.8690
Average Life (yrs.) 10.81 4.56 3.15 2.43 2.00 1.71 1.34
Modified Duration (yrs.) 7.71 3.87 2.79 2.20 1.84 1.58 1.26
First Principal Payment Date 2/25/10 12/25/02 11/25/01 5/25/01 1/25/01 11/25/00 7/25/00
Last Principal Payment Date 6/25/11 3/25/05 5/25/03 5/25/02 11/25/01 6/25/01 1/25/01
Payment Windows (mos.) 17 28 19 13 11 8 7
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.3256 6.3008 6.2731 6.2451 6.2170 6.1891 6.1350
Average Life (yrs.) 16.93 8.38 5.40 3.99 3.16 2.62 1.97
Modified Duration (yrs.) 10.05 6.30 4.44 3.43 2.79 2.35 1.80
First Principal Payment Date 6/25/11 3/25/05 5/25/03 5/25/02 11/25/01 6/25/01 1/25/01
Last Principal Payment Date 8/25/22 2/25/10 2/25/07 9/25/04 7/25/03 10/25/02 11/25/01
Payment Windows (mos.) 135 60 46 29 21 17 11
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.6470 6.6255 6.6207 6.6015 6.5790 6.5563 6.5079
Average Life (yrs.) 25.54 10.90 9.75 6.87 5.09 4.04 2.82
Modified Duration (yrs.) 12.05 7.57 6.99 5.35 4.20 3.45 2.50
First Principal Payment Date 8/25/22 2/25/10 2/25/07 9/25/04 7/25/03 10/25/02 11/25/01
Last Principal Payment Date 12/25/25 8/25/10 2/25/10 10/25/07 1/25/06 5/25/04 10/25/02
Payment Windows (mos.) 41 7 37 38 31 20 12
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
25
<PAGE> 26
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
A-5F (TO CALL)
- -----------------------------------------------------------------------------------------------------------------------------------
<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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 7.0791 7.0570 7.0551 7.0429 7.0280 7.0126 6.9728
Average Life (yrs.) 26.52 11.19 10.69 8.36 6.61 5.44 3.74
Modified Duration (yrs.) 11.73 7.54 7.31 6.14 5.14 4.39 3.19
First Principal Payment Date 12/25/25 8/25/10 2/25/10 10/25/07 1/25/06 5/25/04 10/25/02
Last Principal Payment Date 12/25/25 8/25/10 2/25/10 10/25/07 1/25/06 12/25/04 5/25/03
Payment Windows (mos.) 1 1 1 1 1 8 8
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%
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 6.7269 6.7127 6.7071 6.7010 6.6920 6.6816 6.6545
Average Life (yrs.) 9.98 7.67 7.01 6.39 5.65 4.98 3.83
Modified Duration (yrs.) 7.05 5.76 5.37 5.00 4.54 4.11 3.29
First Principal Payment Date 7/25/02 7/25/02 7/25/02 7/25/02 7/25/02 7/25/02 7/25/02
Last Principal Payment Date 2/25/10 2/25/10 2/25/10 10/25/07 1/25/06 12/25/04 5/25/03
Payment Windows (mos.) 92 92 92 64 43 30 11
A-LA (TO CALL)
- -----------------------------------------------------------------------------------------------------------------------------------
% of Prepay Assumption 0.0% CPR 12.0% CPR 18.0% CPR 24.0% CPR 30.0% CPR 33.0% CPR 48.0% CPR
- -----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100.000 5.2571 5.2573 5.2576 5.2574 5.2585 5.2588 5.2593
Average Life (yrs.) 11.99 5.54 4.29 3.28 2.56 2.26 1.46
Modified Duration (yrs.) 8.32 4.46 3.55 2.80 2.25 2.01 1.34
First Principal Payment Date 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99 7/25/99
Last Principal Payment Date 12/25/25 8/25/10 2/25/10 10/25/07 1/25/06 12/25/04 5/25/03
Payment Windows (mos.) 318 134 128 100 79 66 47
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
26
<PAGE> 27
EQCC HOME EQUITY LOAN TRUST, SERIES 1999-2
Class A-1F, A-2F, A-3F, A-4F, A-5F, A-6F & A-1A Certificates
$870,766,765 (approximate)
- -------------------------------------------------------------------------------
CLASS A-1A NET FUNDS CAP RATE ("NFC")
<TABLE>
<CAPTION>
<S> <C>
ASSUMPTIONS
-------------------------------------------------------
Indices shift (see NFC Scenarios at right) in Period 1
and remain constant thereafter.
------------------------------------------------------- NFC Scenarios I II
Prepayment speeds are 125% PPC and 30% constant CPR for --------------------------------------
Fixed Rate Mortgage Loan Group and Adjustable Rate lm LIBOR 4.91375% 25.00%
Mortgage Loan Group, respectively. 6m LIBOR 5.13375% 25.00%
------------------------------------------------------- --------------------------------------
Period Pay Date I II Period Pay Date I II
--------------------------------------------- ---------------------------------------------
1 7/25/99 8.10 8.10 41 11/25/02 9.65 13.62
2 8/25/99 8.10 8.10 42 12/25/02 9.65 14.60
3 9/25/99 8.12 8.12 43 1/25/03 9.65 14.60
4 10/25/99 8.12 8.12 44 2/25/03 9.65 14.60
5 11/25/99 8.12 8.12 45 3/25/03 9.65 14.62
6 12/25/99 9.10 9.10 46 4/25/03 9.65 14.62
7 1/25/00 9.10 9.10 47 5/25/03 9.65 14.62
8 2/25/00 9.10 9.10 48 6/25/03 9.65 15.60
9 3/25/00 9.11 9.12 49 7/25/03 9.65 15.60
10 4/25/00 9.11 9.12 50 8/25/03 9.65 15.60
11 5/25/00 9.11 9.12 51 9/25/03 9.65 15.62
12 6/25/00 10.02 10.10 52 10/25/03 9.65 15.62
13 7/25/00 9.52 9.60 53 11/25/03 9.65 15.62
14 8/25/00 9.52 9.60 54 12/25/03 9.65 16.60
15 9/25/00 9.52 9.62 55 1/25/04 9.65 16.60
16 10/25/00 9.52 9.62 56 2/25/04 9.65 16.60
17 11/25/00 9.52 9.62 57 3/25/04 9.65 16.61
18 12/25/00 9.65 10.60 58 4/25/04 9.65 16.61
19 1/25/01 9.65 10.60 59 5/25/04 9.65 16.61
20 2/25/01 9.65 10.60 60 6/25/04 9.65 17.43
21 3/25/01 9.65 10.62 61 7/25/04 9.65 17.43
22 4/25/01 9.65 10.62 62 8/25/04 9.65 17.43
23 5/25/01 9.65 10.62 63 9/25/04 9.65 17.43
24 6/25/01 9.65 11.60 64 10/25/04 9.65 17.43
25 7/25/01 9.65 11.60 65 11/25/04 9.65 17.43
26 8/25/01 9.65 11.60 66 12/25/04 9.65 17.58
27 9/25/01 9.65 11.62 67 1/25/05 9.65 17.58
28 10/25/01 9.65 11.62 68 2/25/05 9.65 17.58
29 11/25/01 9.65 11.62 69 3/25/05 9.65 17.58
30 12/25/01 9.65 12.60 70 4125/05 9.65 17.58
31 1/25/02 9.65 12.60 71 5/25/05 9.65 17.58
32 2/25/02 9.65 12.60 72 6/25/05 9.65 17.58
33 3/25/02 9.65 12.62 73 7/25/05 9.65 17.58
34 4/25/02 9.65 12.62 74 8/25/05 9.65 17.58
35 5/25/02 9.65 12.62 75 9/25/05 9.65 17.58
36 6/25/02 9.65 13.60 76 10/25/05 9.65 17.58
37 7/25/02 9.65 13.60 77 11/25/05 9.65 17.58
38 8/25/02 9.65 13.60 78 12/25/05 9.65 17.58
39 9/25/02 9.65 13.62 79 1/25/06 9.65 17.58
40 10/25/02 9.65 13.62
</TABLE>
Banc of America Securities LLC
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America 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.
27
