<PAGE>
- - --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 10, 1996
First Alliance Mortgage Company
-------------------------------------------------
(Exact name of registrant as specified in its charter)
California 33-99604-03 95-2944875
- - ------------------------------ ----------------- ---------------------
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation Number) Identification No.)
92714-6203
---------------------
17305 Von Karman Avenue (Zip Code)
Irvine, California
- - ----------------------------------------
(Address of Principal Executive Offices)
Registrant's telephone number, including area code (714) 224-8400
--------------
No Change
----------------------------------------------------------
(Former name or former address, if changed since last report)
- - --------------------------------------------------------------------------------
<PAGE>
Item 5. OTHER EVENTS.
In connection with the offering of First Alliance Mortgage Company
Mortgage Loan Asset Backed Certificates, Series 1996-4, described in a
Prospectus Supplement dated as of December 10, 1996, certain "Computational
Materials" within the meaning of the May 20, 1994 Kidder, Peabody No-Action
Letter and the February 17, 1995 Public Securities Association No-Action Letter
were furnished to certain prospective investors.
Item 7. FINANCIAL STATEMENT PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
99.1 Computational Materials provided by Prudential Securities
Incorporated in connection with sales efforts related to the
Registrant's securities.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
By: FIRST ALLIANCE MORTGAGE COMPANY, as
Company
By: /s/ Brian Chisick
-----------------------
Name: Brian Chisick
Title: President
Date: December 11, 1996
<PAGE>
First Alliance Mortgage Loan Trust 1996-4
_________________________________________
[22,500,000] [ 6.835 %] Class A-1 Fixed Rate Certificates
[47,500,000] LIBOR - 1M + [ 22 ] bps. Class A-2 Floating Rate Certificates
The information provided herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the First Alliance Mortgage Loan Trust
1996-4 transaction, and not by or as agent for First Alliance Mortgage Company
(the "Sponsor") or any of its affiliates. The analysis in this report is
accurate to the best of PSI's knowledge and is based on information provided by
the Sponsor. PSI makes no representations as to the accuracy of such information
provided to it by the Sponsor. All assumptions and information in this report
reflect PSI's judgment as of this date and are subject to change. All analyses
are based on certain assumptions noted herein and different assumptions could
yield substantially different results. You are cautioned that there is no
universally accepted method for analyzing financial instruments. You should
review the assumptions; there may be differences between these assumptions and
your actual business practices. Further, PSI does not guarantee any results and
there is no guarantee as to the liquidity of the instruments involved in this
analysis. The decision to adopt any strategy remains your responsibility. PSI
(or any of its affiliates) or their officers, directors, analysts or employees
may have positions in securities, commodities or derivative instruments thereon
referred to herein, and may, as principal or agent, buy or sell such securities,
commodities or derivative instruments. In addition, PSI may make a market in the
securities referred to herein. Neither the information nor the assumptions
reflected herein shall be construed to be, or constitute, an offer to sell or
buy or a solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. No sale of any securities, commodities
or derivative instruments should be consumated without the purchaser first
having received a prospectus and, if required, prospectus supplement. Finally,
PSI has not addressed the legal, accounting and tax implications of the analysis
with respect to you, and PSI strongly urges you to seek advice from your
counsel, accountant and tax advisor.
<PAGE>
First Alliance Mortgage Loan Trust 1996-4
Title of Securities: First Alliance Mortgage Loan Trust 1996-4, Class A-1
Fixed Rate Group Certificates and
Class A-2 Variable Rate Group Certificates
(collectively, the "Certificates").
Certificate
Description: Class A-1 Class A-2
--------- ---------
Collateral: Fixed Rate Home Equity Variable Rate Home Equity
Mortgage Loans Mortgage Loans
Prepayment
Assumption: [23% HEP] [25% HEP]
Approximate Size: [22,500,000] [47,500,000]
Average Life to Call: [3.562 ] [3.401]
Average Life to maturity: [3.873 ] [3.650]
Coupon: [ 6.835 %] The lesser of:
1) One Month LIBOR + [ 22 ]bps
2) The Available Funds Cap
After the Clean-Up After the Clean-up Call (for
Call, the Coupon will floating rate group),
be increased by the lesser of:
50 bps. 1) One Month LIBOR + [ 44 ] bps
2) The Available Funds Cap
Yield to Call: [ 6.809 %] [ 5.972 %]
Collateral
Adjustment Frequency: N/A Every 6 months (Both Interest Rate
& Payment)
Payment Delay: 19 NONE
Interest Payment Basis: 30/360 Actual/360
Expected Maturity
without Call: [10/20/15 ] [ 11/20/14 ]
Expected Maturity with
10% Call: [ 05/20/05] [ 05/20/05 ]
Stated Maturity: [ ] [ 12/20/26 ]
------------------------------------------------------------
Pricing Date: [December 10, 1996]
Settlement Date: [December 20, 1996]
Payment Date: The 20th day of each month or, if such day is not a business
day, the next succeeding business day, beginning on January
20, 1997.
Interest Accrual
Period: The interest accrual period for the Class A-1 Certificates
is the calendar month prior to the month in which a
distribution occurs.
Interest will accrue on the Class A-2 Certificates from
Payment Date to Payment Date. For the first Payment Date,
interest will accrue from the Closing Date to the first
Payment Date.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID
NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL
INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
First Alliance Mortgage Loan Trust 1996-4
Clean-up Call: The Servicer has the option to excercise a call when the
balance of the aggregate mortgage loan balance equals 10%
or less of the original aggregate collateral balance and
the original aggregate amount of the prefunding accounts.
The call will be excercised at par plus accrued interest.
Coupon Step-Up: If the Servicer does not exercise its option to call the
Class A-1 Certificates at the Cleanup Call, the coupon on
the Class A-1 Certificates shall be raised to 50 bps
If the Servicer does not exercise its option to call the
Class A-2 Certificates at the Cleanup Call, the coupon
on the Class A-2 Certificates shall be raised to LIBOR +
[ 2x ] bps subject to the Monthly Available Funds Cap and
the Fixed Rate Cap.]
Available Funds Cap: The Available Funds Cap is the weighted average of the
Mortgage Rates on the Mortgage Loans in the Variable
Rate Group, less the sum of (a) the Variable Rate
Group Servicing Fee (50 bps), (b) beginning on
the Second Payment Date from the Closing Date, the
premiums due to the Certificate Insurer with respect to
the Certificate Insurance Policy relating to the
Class A-2 Certificates, (c) the fees due to the Trustee
relating to the Class A-2 Certificates, and (d)
beginning on the [seventh] Payment Date from the
Closing Date, [0.50%], expressed as a percentage of
the Mortgage loans in the Variable Rate Group,
calculated as of the first day of the related
Remittance Period.
Interest Carry
Forward: [The Class A-2 Certificates will have an interest carry
forward feature. The excess of the interest accrued on
the Class A-2 Certificates over the amount of interest
actually distributed will be paid on future Remittance
Dates to the extent of Class A-2 Available funds prior
to distributing any Excess Spread to the holder of the
Class R Certificate. The Interest Carryover Amount
will accrue interest at the Class A-2 Certificate Rate.
No interest Carryover will be paid once its principal
balance has been reduced to zero and the Interest
Carryover Amount is not guaranteed by MBIA.]
Servicer: First Alliance Mortgage Company, a California corporation.
Servicing Fee: 50 basis points per annum for the fixed rate group, and
50 basis points per annum for the variable rate group.
Trustee: Bank of New York
Pre-Funding Account: On the Closing Date, approximately [$11 million] will
be deposited in a pre-funding account for the purchase
of additional floating-rate mortgage loans and [$6 million]
will be deposited in a pre-funding account for the purchase
of additional fixed-rate mortgage loans. From the Closing
Date until [January 20,1997] the Trust intends to
purchase mortgage loans up to the entire
pre-funding amounts. The additional mortgage loans,
purchased with funds deposited in the prefunding
account, will be subject to certain individual and
aggregate group characteristics that will be more
fully described in the Prospectus Supplement.
Funds remaining in the fixed-rate pre-funding account will
be distributed to the Class A-1 Certificateholders as a
prepayment on the January 1996 Payment Date.
Funds remaining in the floating-rate pre-funding account
will be distributed to the Class A-2 Certificateholders as
a prepayment on the January 1996 Payment Date.
Certificate Ratings: The Certificates will be rated AAA by Standard &
Poor's and Aaa by Moody's Investor Service.
Certificate Insurer: MBIA Insurance Corporation ("MBIA").
MBIA's claims-paying ability is rated AAA/Aaa by Standard
and Poor's and Moody's.
Certificate
Insurance: Timely payments of interest and the ultimate payment of
principal on the Certificates will be 100% guaranteed by
MBIA.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID
NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
Flow of Funds: CERTIFICATE CLASS A-1
1) Servicing Fee;
2) MBIA fee;
3) Trustee fee;
4) Accrued monthly interest to Class A-1;
5) Class A-1 monthly principal;
6) Excess cashflow to cover shortfalls of Variable-Rate
group.
7) Remaining excess cashflow to build over-
collateralization ("O/C"), for this collateral group
(by accelerating the Certificate Class currently
receiving principal);
8) Remaining excess cashflow to build O/C in the Variable
Rate Mortgage Group;
9) Repayment of any unreimbursed Servicer advances;
10) Any excess cashflow is released to the Residual-
holder.
CERTIFICATE CLASS A-2
1) Servicing Fee;
2) MBIA fee;
3) Trustee fee;
4) Accrued monthly interest to Class A-2, subject to the
Available Funds Cap and Fixed Rate Cap;
5) Class A-2 monthly principal;
6) Excess cashflow to cover shortfalls to fixed rate
group;
7) Remaining excess cashflow to build O/C for this Class
of Certificates;
8) Remaining excess cashflow to cover shortfalls or build
O/C in the Fixed Rate Mortgage Group;
9) Repayment of any unreimbursed Servicer advances;
10) Any excess cashflow is released to the Residual-
holder.
Credit Enhancement: A combination of:
- Overcollateralization.
- Cross-collateralization of excess spread
- 100% wrap from MBIA guarantee of timely interest
and ultimate principal.
Loss Allocation: Losses are allocated as follows:
Class A-1
----------------------
1) Current monthly excess cashflow from the fixed-rate
group
2) Current monthly excess cashflow from the floating-rate
group
3) Overcollateralization (only for fixed-rate group)
4) MBIA
5) Class A-1 Certificates
Class A-2
---------
1) Current monthly excess cashflow from the floating-rate
group
2) Current monthly excess cashflow from the fixed-rate
group
3) Overcollateralization (only for floating-rate group)
4) MBIA
5) Class A-2 Certificates
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID
NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR
PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR
IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS
COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE
COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
First Alliance Mortgage Loan Trust 1996-4
Over-Collateralization: On each payment date, certain excess cash flows with
respect to each mortgage loan group will be applied as
an accelerated payment of principal on the related
Class A Certificates, to the limited extent outlined
below. This has the effect of accelerating the
amortization of the Class A Certificates relative to
the amortization of the loans in the related mortgage
loan group and results in the build up of
overcollateralization ("O/C").
Excess cashflow will be directed to build the O/C
amount until the pool reaches its required O/C target.
Upon this event the acceleration features will cease,
unless they are once again necessary to maintain the
required O/C level.
CERTIFICATE CLASS A-1
Initial O/C: [none] O/C Target: [2.00%]
CERTIFICATE CLASS A-2
Initial O/C: [none] O/C Target: [2.25%]
Cross-
Collateralization: Excess spread from each of the two collateral pools
will be available to credit enhance and accelerate the
Certificates supported by the other pool.
ERISA
Considerations: The Certificates will not be ERISA eligible during
the Prefunding Period. At the end of the Prefunding
Period, the Certificates may be ERISA eligible.
Investors should consult with their counsel with
respect to the consequences under ERISA and the Code
of the Plan's acquisition and ownership of such
certificates.
SMMEA: The Certificates will NOT constitute "mortgage related
securities" for purposes of SMMEA.
Taxation: REMIC.
Preliminary Pool Information:
(As of Cut-off Date) Fixed Rate 6M LIBOR
---------- --------
Loans 228 406
Balance 18,295,292.12 34,826,571.93
WAC(gross) 10.581 9.244
WAC(net) 10.081 8.744
WAM 332.5 342.9
CA Conc. 55.11% 23.41%
WA Orig. LTV 58.33% 60.36%
WA CLTV 58.74% 60.36%
% 1st Lien 99.10% 100.00%
% 2nd Lien 0.90% 0.00%
% 3rd Lien 0.00% 0.00%
Owner Occ. 96.45% 96.33%
Prospectus: The Certificates are being offered pursuant to a
Prospectus which includes a Prospectus Supplement
(together, the "Prospectus"). Complete information
with respect to the Certificates and the Collateral is
contained in the Prospectus. The foregoing is
qualified in its entirety by the information appearing
in the Prospectus. To the extent that the foregoing
is inconsistent with the Prospectus, the Prospectus
shall govern in all respects. Sales of the
Certificates may not be consumated unless the
purchaser has received the Prospectus.
Further Information: For further information, call the desk at (212) 778-
2741, Paul Richardson at (212) 778-1507, Randy White
at (212) 778-7461 or Mimi Cheng at (212) 778-7474.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
First Alliance 1996-4
Financial Strategies 12/10/96 04:25:42 pm Prudential Securities
Group IMPACT CMO/ABS Analytics - Digest Information Incorporated
Deal ID/CUSIP FAMT64 Deal Date 12/10/96
Series 1996-4 Delivery Date 12/20/96
Underwriter PSI Dated Date 12/01/96
Issuer FIRST ALLIANCE MORTGAGE LOAN TRUST Credit Support
Collateral 100%WL (Real) Deal Type HEL REMIC
N/GWAC (Orig) / (9.174/9.674) Pricing Speed HEP 23/ 25.
WAM (Orig) (28.316) Rating
Size 70,000,000 Coupon Range 8.213-11.250
Trustee Modeled Y
View Summary On Page 1 of 4
Class Coupon Mat Amt 000 AvLf Sprd Price Yield Description
- - ------ ------- ----- ------- ---- ---- ------- ------- -------------------------
A1 6.835 N/A 22,500 3.6 92 100-00 6.809 CUR
A2 * N/A 47,500 3.4 N/A 100-00 5.972 FLT CUR LIBOR-1M+22
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
Financial Strategies 12/10/96 04:25:24 pm Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / Yield Tables Incorporated
Deal ID/CUSIP FAMT64 Coupon 6.835
Class A1 CUR Accr 0.36074 1st Pmt 01/20/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (9.174/9.674) LIBOR-1M 5.59770
WAM (Orig) (28.316) Mat N/A Settle 12/20/96
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
***** RUN TO 10% CLEAN UP CALL *****
FIX HEP (%) 0.00 19.00 21.00 23.00 25.00
Price ARM HEP (%) 0.00 21.00 23.00 25.00 27.00
----- --------- --------- -------- --------- --------- ---------
99-28+ 6.907 6.858 6.852 6.847 6.841
99-29 6.906 6.853 6.847 6.841 6.835
99-29+ 6.904 6.849 6.842 6.836 6.829
99-30 6.902 6.844 6.837 6.830 6.823
99-30+ 6.901 6.839 6.832 6.825 6.818
99-31 6.899 6.835 6.827 6.820 6.812
99-31+ 6.898 6.830 6.822 6.814 6.806
100-00 6.896 6.826 6.817 6.809 6.801
100-00+ 6.894 6.821 6.812 6.804 6.795
100-01 6.893 6.816 6.807 6.798 6.789
100-01+ 6.891 6.812 6.802 6.793 6.783
100-02 6.890 6.807 6.797 6.788 6.778
100-02+ 6.888 6.802 6.792 6.782 6.772
100-03 6.886 6.798 6.787 6.777 6.766
100-03+ 6.885 6.793 6.782 6.772 6.761
Avg. Life 19.304 4.252 3.876 3.562 3.292
Mod. Dur. 9.730 3.354 3.114 2.906 2.722
1st Pmt. 0.083 0.083 0.083 0.083 0.083
Last Pmt. 12/20/24 01/20/07 02/20/06 05/20/05 09/20/04
Financial Strategies 12/10/96 04:25:42 pm Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / DMrg Act/360 Incorporated
Deal ID/CUSIP FAMT64 Coupon * Cap Flr 0.00
Class A2 FLT CUR LIBOR-1M+TBA Accr 0.00000 1st Pmt 01/20/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (9.174/9.674) LIBOR-1M 5.59770
WAM (Orig) (28.316) Mat N/A Settle 12/20/96
CenterPrice 100-00 Inc 0.5 Table DMrg Act/360 Roll@
***** RUN TO 10% CLEAN UP CALL *****
FIX HEP (%) 0.00 19.00 21.00 23.00 25.00
Price ARM HEP (%) 0.00 21.00 23.00 25.00 27.00
----- --------- --------- -------- --------- --------- ---------
99-28+ 22.948 25.202 25.445 25.687 25.931
99-29 22.812 24.745 24.952 25.160 25.369
99-29+ 22.677 24.287 24.460 24.633 24.807
99-30 22.541 23.829 23.968 24.106 24.245
99-30+ 22.406 23.372 23.476 23.579 23.684
99-31 22.271 22.914 22.984 23.053 23.122
99-31+ 22.135 22.457 22.492 22.526 22.561
100-00 22.000 22.000 22.000 22.000 22.000
100-00+ 21.865 21.543 21.508 21.474 21.439
100-01 21.729 21.086 21.017 20.948 20.878
100-01+ 21.594 20.629 20.526 20.422 20.317
100-02 21.459 20.173 20.034 19.896 19.757
100-02+ 21.324 19.716 19.543 19.370 19.196
100-03 21.189 19.260 19.052 18.845 18.636
100-03+ 21.054 18.804 18.561 18.320 18.076
Avg. Life 20.666 4.027 3.687 3.401 3.154
Mod. Dur. 11.108 3.289 3.058 2.857 2.680
1st Pmt. 0.083 0.083 0.083 0.083 0.083
Last Pmt. 12/20/24 01/20/07 02/20/06 05/20/05 09/20/04
<PAGE>
FIRST ALLIANCE 1996-4
Assumptions:
- - ------------
- - ------------
Ongoing Fees : (Trustee + Surety) 16.45 bps
: Trustee = 1.45 bps
: Surety Fee = 15 bps starting in month 3
Mtg Net WAC (%) : Mortgage WAC - 50 bps of Service fee
Bond Coupon remains constant at: 1M Libor (5.60547%) + 22 bps
Indices remains constant at:
1M LIBOR = 5.60547%
6M LIBOR = 5.5391%
Additional Surety Carveout/Cushion starting in month 7th.
Pricing Speed (%): 25 HEP
Projected Assumed Assumed Projected Assumed Projected
Payment Mtg Net Ongoing Surety Available Bond Available
Period WAC Fee Cushion Funds Cap Coupon Margin
(%) (bps.) (bps.) (%) (%) (bps)
- - --------------------------------------------------------------------------
- - --------------------------------------------------------------------------
12/01/96
01/25/97 8.7441 1.45 0 8.7296 5.82547 290.4
02/25/97 8.7475 1.45 0 8.7330 5.82547 290.8
03/25/97 8.7505 16.45 0 8.5860 5.82547 276.1
04/25/97 8.7514 16.45 0 8.5869 5.82547 276.1
05/25/97 8.7846 16.45 0 8.6201 5.82547 279.5
06/25/97 8.9547 16.45 0 8.7902 5.82547 296.5
07/25/97 9.4314 16.45 50 8.7669 5.82547 294.1
08/25/97 9.7161 16.45 50 9.0516 5.82547 322.6
09/25/97 9.7435 16.45 50 9.0790 5.82547 325.4
10/25/97 9.7445 16.45 50 9.0800 5.82547 325.5
11/25/97 9.7773 16.45 50 9.1128 5.82547 328.7
12/25/97 9.9472 16.45 50 9.2827 5.82547 345.7
01/25/98 10.4230 16.45 50 9.7585 5.82547 393.3
02/25/98 10.7102 16.45 50 10.045 7 5.82547 422.0
03/25/98 10.7356 16.45 50 10.071 1 5.82547 424.6
04/25/98 10.7359 16.45 50 10.071 4 5.82547 424.6
05/25/98 10.7486 16.45 50 10.084 1 5.82547 425.9
06/25/98 10.8494 16.45 50 10.184 9 5.82547 435.9
07/25/98 11.3196 16.45 50 10.655 1 5.82547 483.0
08/25/98 11.6066 16.45 50 10.942 1 5.82547 511.7
09/25/98 11.6320 16.45 50 10.967 5 5.82547 514.2
10/25/98 11.6320 16.45 50 10.967 5 5.82547 514.2
11/25/98 11.6320 16.45 50 10.967 5 5.82547 514.2
12/25/98 11.6320 16.45 50 10.967 5 5.82547 514.2
01/25/99 11.6320 16.45 50 10.967 5 5.82547 514.2
02/25/99 11.6513 16.45 50 10.986 8 5.82547 516.1
03/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
04/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
05/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
06/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
07/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
08/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
09/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
10/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
11/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
12/25/99 11.6673 16.45 50 11.002 8 5.82547 517.7
01/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
02/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
03/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
04/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
05/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
06/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
07/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
08/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
09/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
10/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
11/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
12/25/00 11.6673 16.45 50 11.002 8 5.82547 517.7
so on....
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE
SUCH A DISCLAIMER PLEASE CONTACT YOUR PRUDENTIAL SECURITIES
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN
THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
- - --------------------------------------------------------------------------------
- FAMT64
- Cut Off Date of Tape is 12/1/96
- FIX
- $18,295,292.12
- Mortgage Summary Report
- - --------------------------------------------------------------------------------
Number of Mortgage Loans: 228
Aggregate Unpaid Principal Balance: $18,295,292.12
Aggregate Original Principal Balance: $18,311,053.00
Weighted Average Net Coupon: 10.081%
Net Coupon Range: 7.450% - 15.750%
Weighted Average Gross Coupon: 10.581%
Gross Coupon Range: 7.950% - 16.250%
- - --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $80,242.51
Average Original Principal Balance: $80,311.64
Maximum Unpaid Principal Balance: $241,761.00
Minimum Unpaid Principal Balance: $13,040.51
Maximum Original Principal Balance: $241,761.00
Minimum Original Principal Balance: $14,226.00
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 332.513
Stated Rem Term Range: 120.000 - 360.000
Weighted Avg. Amortized Rem. Term: 331.746
Amortized Rem Term Range: 120.000 - 360.054
Weighted Average Age (First Pay thru Last Pay): 0.268
Age Range: 0.000 - 38.000
Weighted Average Original Term: 332.781
Original Term Range: 120.000 - 360.000
Weighted Average Original LTV: 58.329
Original LTV Range: 6.460% - 79.990%
Weighted Average Combined LTV: 58.736
Combined LTV Range: 11.090% - 79.990%
- - --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FAMT 1996-4
ORIGINAL LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Combined Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
75.01 to 80.00 17 2,000,236.21 10.93
70.01 to 75.00 29 3,464,659.43 18.94
65.01 to 70.00 29 2,736,584.99 14.96
60.01 to 65.00 24 2,188,558.42 11.96
55.01 to 60.00 19 1,480,761.42 8.09
50.01 to 55.00 17 1,452,578.88 7.94
45.01 to 50.00 17 1,359,193.13 7.43
40.01 to 45.00 13 770,071.00 4.21
35.01 to 40.00 16 886,728.18 4.85
30.01 to 35.00 11 584,575.00 3.20
25.01 to 30.00 16 704,435.68 3.85
20.01 to 25.00 10 438,462.27 2.40
15.01 to 20.00 6 139,735.00 0.76
10.01 to 15.00 4 88,712.51 0.48
- - ---------------------------------------------------------------------------
Total............ 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
ORIGINAL LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
75.01 to 80.00 16 1,980,236.21 10.82
70.01 to 75.00 29 3,464,659.43 18.94
65.01 to 70.00 27 2,687,858.26 14.69
60.01 to 65.00 24 2,188,558.42 11.96
55.01 to 60.00 18 1,453,761.42 7.95
50.01 to 55.00 17 1,452,578.88 7.94
45.01 to 50.00 15 1,303,464.00 7.12
40.01 to 45.00 13 770,071.00 4.21
35.01 to 40.00 16 886,728.18 4.85
30.01 to 35.00 11 584,575.00 3.20
25.01 to 30.00 16 704,435.68 3.85
20.01 to 25.00 10 438,462.27 2.40
15.01 to 20.00 6 139,735.00 0.76
10.01 to 15.00 6 151,401.13 0.83
5.01 to 10.00 4 88,767.24 0.49
- - ---------------------------------------------------------------------------
Total............ 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
GROSS MORTGAGE INTEREST RATE RANGE 5-Dec-1996
Page 1
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
7.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 8.00% 1 91,758.63 0.50
8.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 9.00% 3 308,763.00 1.69
9.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 9.50% 5 505,131.00 2.76
9.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 10.00% 85 7,445,114.56 40.69
10.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 10.50% 25 2,276,320.29 12.44
10.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 11.00% 41 3,048,739.97 16.66
11.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 11.50% 15 1,544,942.17 8.44
11.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 12.00% 15 915,982.45 5.01
12.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 12.50% 12 1,095,128.00 5.99
12.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 13.00% 11 497,366.00 2.72
13.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 13.50% 5 188,164.73 1.03
13.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 14.00% 4 203,068.51 1.11
14.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 15.00% 3 104,852.68 0.57
15.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 15.50% 2 55,000.00 0.30
16.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 16.50% 1 14,960.13 0.08
- - ---------------------------------------------------------------------------------------------------------
Total.......... 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------------------------------------
- - ---------------------------------------------------------------------------------------------------------
</TABLE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES 5-Dec-1996
Page 1
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AZ 1 124,263.00 0.68
CA 113 10,083,218.60 55.11
CO 3 225,548.00 1.23
FL 7 373,696.00 2.04
GA 19 1,318,980.90 7.21
IL 20 1,351,807.00 7.39
NJ 10 608,962.67 3.33
NY 17 1,377,114.00 7.53
OH 4 265,469.00 1.45
OR 9 669,937.00 3.66
PA 10 673,855.63 3.68
UT 4 347,961.32 1.90
WA 11 874,479.00 4.78
- - ---------------------------------------------------------------------------
Total............... 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
REMAINING MONTHS TO STATED MATURITY 5-Dec-1996
Page 1
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
108 LESS THAN Rem Term LESS THAN OR EQUAL TO 120 3 118,194.00 0.65%
132 LESS THAN Rem Term LESS THAN OR EQUAL TO 144 1 13,040.51 0.07%
168 LESS THAN Rem Term LESS THAN OR EQUAL TO 180 43 2,327,910.55 12.72%
228 LESS THAN Rem Term LESS THAN OR EQUAL TO 240 4 402,009.00 2.20%
324 LESS THAN Rem Term LESS THAN OR EQUAL TO 336 1 91,758.63 0.50%
336 LESS THAN Rem Term LESS THAN OR EQUAL TO 348 1 79,487.79 0.43%
348 LESS THAN Rem Term LESS THAN OR EQUAL TO 360 175 15,262,891.64 83.43%
- - -----------------------------------------------------------------------------------------------
Total............ 228 18,295,292.12 100.00%
- - -----------------------------------------------------------------------------------------------
- - -----------------------------------------------------------------------------------------------
</TABLE>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
10,000 LESS THAN Balance LESS THAN OR EQUAL TO 15,000 2 28,000.64 0.15
15,000 LESS THAN Balance LESS THAN OR EQUAL TO 20,000 4 79,182.00 0.43
20,000 LESS THAN Balance LESS THAN OR EQUAL TO 25,000 8 177,593.73 0.97
25,000 LESS THAN Balance LESS THAN OR EQUAL TO 30,000 6 169,437.00 0.93
30,000 LESS THAN Balance LESS THAN OR EQUAL TO 35,000 9 297,226.18 1.62
35,000 LESS THAN Balance LESS THAN OR EQUAL TO 40,000 9 338,545.27 1.85
40,000 LESS THAN Balance LESS THAN OR EQUAL TO 45,000 12 509,470.37 2.78
45,000 LESS THAN Balance LESS THAN OR EQUAL TO 50,000 8 377,212.00 2.06
50,000 LESS THAN Balance LESS THAN OR EQUAL TO 55,000 14 745,950.94 4.08
55,000 LESS THAN Balance LESS THAN OR EQUAL TO 60,000 11 628,485.73 3.44
60,000 LESS THAN Balance LESS THAN OR EQUAL TO 65,000 13 810,216.94 4.43
65,000 LESS THAN Balance LESS THAN OR EQUAL TO 70,000 12 805,409.32 4.40
70,000 LESS THAN Balance LESS THAN OR EQUAL TO 75,000 8 581,880.00 3.18
75,000 LESS THAN Balance LESS THAN OR EQUAL TO 80,000 13 1,012,063.82 5.53
80,000 LESS THAN Balance LESS THAN OR EQUAL TO 85,000 9 738,106.50 4.03
85,000 LESS THAN Balance LESS THAN OR EQUAL TO 90,000 12 1,052,717.00 5.75
90,000 LESS THAN Balance LESS THAN OR EQUAL TO 95,000 14 1,300,018.63 7.11
95,000 LESS THAN Balance LESS THAN OR EQUAL TO 100,000 7 681,709.00 3.73
100,000 LESS THAN Balance LESS THAN OR EQUAL TO 125,000 25 2,798,692.78 15.30
125,000 LESS THAN Balance LESS THAN OR EQUAL TO 150,000 14 1,857,249.84 10.15
150,000 LESS THAN Balance LESS THAN OR EQUAL TO 200,000 14 2,417,791.43 13.22
200,000 LESS THAN Balance LESS THAN OR EQUAL TO 250,000 4 888,333.00 4.86
- - ---------------------------------------------------------------------------------------------------------
Total.................... 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------------------------------------
- - ---------------------------------------------------------------------------------------------------------
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
MORTGAGED PROPERTIES 5-Dec-1996
Page 1
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family 220 17,708,276.07 96.79
2-4 Family 8 587,016.05 3.21
- - ---------------------------------------------------------------------------
Total............... 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Occupancy Status Loans Balance Balance
1 219 17,645,453.07 96.45
2 9 649,839.05 3.55
- - ---------------------------------------------------------------------------
Total.................. 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
ORIGINAL JUNIOR LIEN RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Junior Lien Mortgage Principal Principal
Ratio Loans Balance Balance
0.00 to 10.00 1 20,726.73 0.11
10.01 to 20.00 3 75,000.00 0.41
20.01 to 30.00 2 55,729.13 0.30
60.01 to 70.00 1 13,040.51 0.07
90.01 to 100.00 221 18,130,795.75 99.10
- - ---------------------------------------------------------------------------
Total............ 228 $ 18,295,292.12 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
- - --------------------------------------------------------------------------------
- Famt64
- Cut Off Date of Tape is 12/1/96
- $34,826,571.93
- Adjustable Rate Mortgage Summary Report
- - --------------------------------------------------------------------------------
Number of Mortgage Loans: 406
Aggregate Unpaid Principal Balance: $34,826,571.93
Aggregate Original Principal Balance: $34,834,987.00
Average Unpaid Principal Balance: $85,779.73
Average Original Principal Balance: $85,800.46
Maximum Unpaid Principal Balance: $303,870.00
Minimum Unpaid Principal Balance: $20,001.00
Maximum Original Principal Balance: $303,870.00
Minimum Original Principal Balance: $20,001.00
Weighted Average Gross Coupon: 9.244%
Gross Coupon Range: 6.950% - 13.990%
Weighted Average Net Coupon: 8.744%
Net Coupon Range: 6.450% - 13.490%
Weighted Avg. Stated Rem. Term (LPD to Mat Date): 342.865
Stated Rem Term Range: 120.000 - 360.000
Weighted Avg. Amortized Rem. Term: 342.585
Amortized Rem Term Range: 120.001 - 361.344
Weighted Average Age (First Pay thru Last Pay): 567.451
Age Range: 0.000 - 1200.000
Weighted Average Original Term: 342.980
Original Term Range: 120.000 - 360.000
Weighted Average Original LTV: 60.359
Original LTV Range: 15.320% - 80.000%
- - --------------------------------------------------------------------------------
Adjustable Rate Features
- - --------------------------------------------------------------------------------
Weighted Average Months to Interest Roll: 6.052
Months to Interest Roll Range: 1 - 8
Weighted Average Interest Roll Frequency: 6.000
Interest Frequency Range: 6 - 6
Weighted Average Gross Margin: 6.628%
Gross Margin Range: 4.490% - 10.490%
Weighted Average Net Margin: 6.128%
Net Margin Range: 3.990% - 9.990%
Weighted Average Periodic Interest Cap: 1.000%
Periodic Interest Cap Range: 1.000% - 1.000%
Weighted Average Life Cap (Gross): 16.244%
Gross Life Cap Range: 13.950% - 20.990%
Weighted Average Life Floor (Gross): 9.244%
Gross Life Floor Range: 6.950% - 13.990%
- - --------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
ORIGINAL LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Loan-To-Value Mortgage Principal Principal
Ratio Loans Balance Balance
75.01 to 80.00 20 2,101,872.61 6.04
70.01 to 75.00 49 5,688,057.35 16.33
65.01 to 70.00 67 6,635,440.57 19.05
60.01 to 65.00 49 4,578,100.69 13.15
55.01 to 60.00 57 4,588,030.02 13.17
50.01 to 55.00 49 4,374,241.02 12.56
45.01 to 50.00 37 2,620,598.58 7.52
40.01 to 45.00 17 1,124,350.40 3.23
35.01 to 40.00 23 1,397,645.09 4.01
30.01 to 35.00 16 794,313.95 2.28
25.01 to 30.00 12 626,617.65 1.80
20.01 to 25.00 6 198,342.00 0.57
15.01 to 20.00 4 98,962.00 0.28
- - ---------------------------------------------------------------------------
Total............ 406 $ 34,826,571.93 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
REMAINING MONTHS TO STATED MATURITY 5-Dec-1996
Page 1
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
<S> <C> <C> <C>
108 LESS THAN Rem Term LESS THAN OR EQUAL TO 120 1 46,667.00 0.13%
168 LESS THAN Rem Term LESS THAN OR EQUAL TO 180 45 3,077,956.52 8.84%
228 LESS THAN Rem Term LESS THAN OR EQUAL TO 240 4 229,374.00 0.66%
348 LESS THAN Rem Term LESS THAN OR EQUAL TO 360 356 31,472,574.41 90.37%
- - -----------------------------------------------------------------------------------------------
Total............ 406 34,826,571.93 100.00%
- - -----------------------------------------------------------------------------------------------
- - -----------------------------------------------------------------------------------------------
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
<S> <C> <C> <C>
20,000 LESS THAN Balance LESS THAN OR EQUAL TO 25,000 4 83,706.00 0.24
25,000 LESS THAN Balance LESS THAN OR EQUAL TO 30,000 7 197,323.54 0.57
30,000 LESS THAN Balance LESS THAN OR EQUAL TO 35,000 12 384,532.28 1.10
35,000 LESS THAN Balance LESS THAN OR EQUAL TO 40,000 7 267,224.20 0.77
40,000 LESS THAN Balance LESS THAN OR EQUAL TO 45,000 14 598,136.72 1.72
45,000 LESS THAN Balance LESS THAN OR EQUAL TO 50,000 14 672,685.22 1.93
50,000 LESS THAN Balance LESS THAN OR EQUAL TO 55,000 21 1,090,006.27 3.13
55,000 LESS THAN Balance LESS THAN OR EQUAL TO 60,000 20 1,143,146.92 3.28
60,000 LESS THAN Balance LESS THAN OR EQUAL TO 65,000 33 2,077,077.95 5.96
65,000 LESS THAN Balance LESS THAN OR EQUAL TO 70,000 22 1,484,092.55 4.26
70,000 LESS THAN Balance LESS THAN OR EQUAL TO 75,000 23 1,664,473.44 4.78
75,000 LESS THAN Balance LESS THAN OR EQUAL TO 80,000 19 1,463,785.22 4.20
80,000 LESS THAN Balance LESS THAN OR EQUAL TO 85,000 30 2,458,759.10 7.06
85,000 LESS THAN Balance LESS THAN OR EQUAL TO 90,000 27 2,371,998.10 6.81
90,000 LESS THAN Balance LESS THAN OR EQUAL TO 95,000 17 1,576,298.48 4.53
95,000 LESS THAN Balance LESS THAN OR EQUAL TO 100,000 22 2,136,779.41 6.14
100,000 LESS THAN Balance LESS THAN OR EQUAL TO 125,000 64 7,104,415.83 20.40
125,000 LESS THAN Balance LESS THAN OR EQUAL TO 150,000 27 3,639,355.89 10.45
150,000 LESS THAN Balance LESS THAN OR EQUAL TO 200,000 16 2,766,147.90 7.94
200,000 LESS THAN Balance LESS THAN OR EQUAL TO 250,000 6 1,342,756.91 3.86
300,000 LESS THAN Balance LESS THAN OR EQUAL TO 350,000 1 303,870.00 0.87
- - ---------------------------------------------------------------------------------------------------------
Total.................... 406 $ 34,826,571.93 100.00%
- - ---------------------------------------------------------------------------------------------------------
- - ---------------------------------------------------------------------------------------------------------
</TABLE>
MORTGAGED PROPERTIES 5-Dec-1996
Page 1
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Fam 378 32,094,108.16 92.15
PUD 3 170,653.00 0.49
Condominiums 5 435,128.98 1.25
2-4 Family 20 2,126,681.79 6.11
- - ---------------------------------------------------------------------------
Total............... 406 $ 34,826,571.93 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
GROSS MORTGAGE INTEREST RATE RANGE 5-Dec-1996
Page 1
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
<S> <C> <C> <C>
6.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 7.00% 1 127,792.00 0.37
7.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 7.50% 41 3,602,340.73 10.34
7.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 8.00% 38 3,543,320.99 10.17
8.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 8.50% 61 5,394,123.10 15.49
8.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 9.00% 71 6,344,414.46 18.22
9.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 9.50% 44 3,919,561.43 11.25
9.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 10.00% 49 3,851,357.13 11.06
10.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 10.50% 22 2,289,141.38 6.57
10.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 11.00% 23 2,033,710.64 5.84
11.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 11.50% 19 1,356,163.18 3.89
11.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 12.00% 13 880,237.57 2.53
12.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 12.50% 12 687,046.26 1.97
12.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 13.00% 5 281,135.72 0.81
13.00% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 13.50% 6 434,383.34 1.25
13.50% LESS THAN Gross Coupon LESS THAN OR EQUAL TO 14.00% 1 81,844.00 0.24
- - ---------------------------------------------------------------------------------------------------------
Total.......... 406 $ 34,826,571.93 100.00%
- - ---------------------------------------------------------------------------------------------------------
- - ---------------------------------------------------------------------------------------------------------
</TABLE>
DISTRIBUTION OF
MAXIMUM MORTGAGE RATES
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
<S> <C> <C> <C>
13.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 14.00 1 127,792.00 0.37
14.00 LESS THAN Life Cap LESS THAN OR EQUAL TO 14.50 41 3,602,340.73 10.34
14.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 15.00 38 3,543,320.99 10.17
15.00 LESS THAN Life Cap LESS THAN OR EQUAL TO 15.50 61 5,394,123.10 15.49
15.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 16.00 71 6,344,414.46 18.22
16.00 LESS THAN Life Cap LESS THAN OR EQUAL TO 16.50 44 3,919,561.43 11.25
16.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 17.00 49 3,851,357.13 11.06
17.00 LESS THAN Life Cap LESS THAN OR EQUAL TO 17.50 22 2,289,141.38 6.57
17.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 18.00 23 2,033,710.64 5.84
18.00 LESS THAN Life Cap LESS THAN OR EQUAL TO 18.50 19 1,356,163.18 3.89
18.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 19.00 13 880,237.57 2.53
19.00 LESS THAN Life Cap LESS THAN OR EQUAL TO 19.50 12 687,046.26 1.97
19.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 20.00 5 281,135.72 0.81
20.00 LESS THAN Life Cap LESS THAN OR EQUAL TO 20.50 6 434,383.34 1.25
20.50 LESS THAN Life Cap LESS THAN OR EQUAL TO 21.00 1 81,844.00 0.24
- - ----------------------------------------------------------------------------------------------------
Total................. 406 $ 34,826,571.93 100.00%
- - ----------------------------------------------------------------------------------------------------
- - ----------------------------------------------------------------------------------------------------
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
<PAGE>
FIRST ALLIANCE 1996-4
DISTRIBUTION OF
MARGINS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
<S> <C> <C> <C>
4.0 LESS THAN Margin LESS THAN OR EQUAL TO 5.0 54 4,492,752.73 12.90
5.0 LESS THAN Margin LESS THAN OR EQUAL TO 6.0 121 11,128,612.24 31.95
6.0 LESS THAN Margin LESS THAN OR EQUAL TO 7.0 95 8,147,469.49 23.39
7.0 LESS THAN Margin LESS THAN OR EQUAL TO 8.0 72 6,488,965.20 18.63
8.0 LESS THAN Margin LESS THAN OR EQUAL TO 9.0 46 3,415,723.77 9.81
9.0 LESS THAN Margin LESS THAN OR EQUAL TO 10.0 16 1,006,945.50 2.89
10.0 LESS THAN Margin LESS THAN OR EQUAL TO 11.0 2 146,103.00 0.42
- - ------------------------------------------------------------------------------------------------
Total................. 406 $ 34,826,571.93 100.00%
- - ------------------------------------------------------------------------------------------------
- - ------------------------------------------------------------------------------------------------
</TABLE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES 5-Dec-1996
Page 1
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AZ 15 994,207.27 2.85
CA 82 8,151,977.26 23.41
CO 17 1,511,327.52 4.34
FL 30 2,437,943.51 7.00
GA 2 202,196.00 0.58
ID 2 124,898.35 0.36
IL 59 4,968,534.42 14.27
NJ 39 3,188,289.55 9.15
NY 29 3,074,381.00 8.83
OH 25 1,953,789.97 5.61
OR 18 1,659,247.40 4.76
PA 41 2,826,980.03 8.12
UT 6 595,549.91 1.71
WA 41 3,137,249.74 9.01
- - ---------------------------------------------------------------------------
Total............... 406 $ 34,826,571.93 100.00%
- - ---------------------------------------------------------------------------
- - ---------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL
SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL
TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION
IN THE PROSPECTUS SUPPLEMENT.
