- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 8, 1997
First Alliance Mortgage Company
(Exact name of registrant as specified in its charter)
California 33-99604-06 95-2944875
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
17305 Von Karman Avenue 92614-6203
Irvine, California (Zip Code)
(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 1997-3, described in a
Prospectus Supplement dated as of September 9, 1997, 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 Statements, 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.
99.2 Computational Materials provided by Lehman
Brothers, Inc. 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
Dated: September 8, 1997
First Alliance Mortgage Loan Trust 1997-3
Mortgage Loan Asset Backed Certificates, Series 1997-3
[$85,000,000] Class A Certificates
-----------------------------------------------------------------------
[$35,000,000] Class A-1 Fixed Rate Group Certificates - [.]%
[$50,000,000] Class A-2 Floating Rate Group Certificates - 1M
LIBOR + [ ] bps.
The information provided herein is provided solely by Prudential Securities
Incorporated ("PSI") as underwriter for the First Alliance Mortgage Loan Trust
1997-3 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 1997-3
Mortgage Loan Asset Backed Certificates, Series 1997-3
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Title of Securities: First Alliance Mortgage Loan Trust 1997-3,
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
--------- ---------
<S> <C> <C>
Collateral: Fixed Rate Home Equity Variable Rate Home Equity
Mortgage Loans Mortgage Loans
Prepayment
Assumption: [27% HEP] [27% CPR]
Approximate Size: [$35,000,000] [$50,000,000]
Average Life
to Call: [3.1] [2.8]
Average Life
to maturity: [3.3] [3.1]
Coupon: [.%] The lesser of:
1) One Month LIBOR + []bps
2) The Available Funds Cap
Coupon Step-up: After the Clean-Up Call, After the Clean-up Call,
the Coupon will the lesser of:
be increased by 1) One Month LIBOR + 2x [] bps
50 bps. 2) The Available Funds Cap
Yield to Call: [.%] Variable
Collateral
Adjustment Frequency: N/A Every 6 months (Both Interest Rate &
Payment)
Payment Delay: [19] NONE
Interest
Accrual Basis: 30/360 Actual/360
Dated Date: [09/01/97] [09/26/97]
Expected Maturity
without Call: [04/20/13] [01/20/14]
Expected Maturity
with 10% Call: [01/20/05] [01/20/05]
Stated Maturity: [12/20/28] [12/20/28]
Pricing Date: [September 10, 1997] [September 10, 1997]
Settlement Date: [September 26, 1997] [September 26, 1997]
</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 Mortgage Loan Trust 1997-3
Mortgage Loan Asset Backed Certificates, Series 1997-3
- --------------------------------------------------------------------------------
Company and
Servicer: First Alliance Mortgage Company, a California
corporation.
Servicing Fee: 50 basis points per annum.
Trustee: The Chase Manhattan Bank
Aggregate
Group Balance: Fixed Rate Group $[35,000,000]
Variable Rate Group $[50,000,000]
Payment Date: The 20th day of each month or, if such day is not a
business day, the next succeeding business day,
beginning on October 20, 1997.
Record Date: Class A-1 & Class A-2 - The last day of the calendar
month immediately preceeding the related Payment
Date. 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.
Form of Certificates: Book-entry only through the same-day funds facilities
of DTC, Euroclear and CEDEL.
Denominations: Minimum denominations of $1,000 and integral
multiples thereof.
Prepayment
Assumption: For the Class A-1 Fixed-Rate Group Certificates,
[27]% HEP ([2.7]% CPR in month 1 with monthly
incremental increases of [2.7]% CPR until the speed
reaches [27]% CPR in month 10 based on loan
seasoning.)
For the Class A-2 Variable-Rate Group Certificates,
[27]% CPR.
10% Clean-up Call: The Servicer has the option to exercise a call when
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 exercised at par plus
accrued interest.
Coupon Step-Up: If the Servicer does not exercise the Cleanup Call,
the coupon on the Class A-1 Certificates shall be
raised to [.]% + 0.50%.
If the Servicer does not exercise the Cleanup Call,
the coupon on the Class A-2 Certificates shall be
raised to 1M LIBOR + 2x []bps, subject to the Monthly
Available Funds 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. The Interest Carryover Amount is not
guaranteed by MBIA. There will be no make-whole of
the interest carry forward at the call 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 1997-3
Mortgage Loan Asset Backed Certificates, Series 1997-3
- --------------------------------------------------------------------------------
Pre-Funding Account: On the Closing Date, approximately [$12,103,888.88]
will be deposited in a pre-funding account for the
purchase of additional floating-rate mortgage loans
and [$6,368,932.54] will be deposited in a
pre-funding account for the purchase of additional
fixed-rate mortgage loans. From the Closing Date
until [October 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 July 1997
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 July 1997
Payment Date.
Credit Enhancement: A combination of:
- Overcollateralization.
- Cross-collateralization of excess spread
- 100% wrap from MBIA guarantee of timely interest
and ultimate principal.
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.
ERISA
Considerations: The Certificates will 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.
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, Sean
Arnold at (212) 778-4921 or Lina Hsu at (212)
778-1451.
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>
Financial Strategies 09/05/97 04:58:05 pm Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / Yield Tables Incorporated
Deal ID/CUSIP FAMT73 Coupon N/A
Class A1 CUR Accr 0.48021 1st Pmt 10/20/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (8.868/9.368) LIBOR-1M 5.65625
WAM (Orig) (27.683) Mat N/A Settle 09/26/97
CenterPrice 100-00 Inc 0.5 Table Yield Roll@
******** TO CALL ********
FIXED HEP 27.00 HEP 23.00 HEP 25.00 HEP 29.00 HEP 31.00 HEP 33.00 HEP 35.00
ARMS CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00
----- --------- --------- --------- --------- --------- --------- ---------
99-28+ 6.916 6.926 6.921 6.911 6.905 6.900 6.895
99-29 6.910 6.921 6.915 6.904 6.899 6.893 6.888
99-29+ 6.904 6.915 6.909 6.898 6.892 6.886 6.880
99-30 6.898 6.910 6.904 6.892 6.885 6.879 6.873
99-30+ 6.892 6.904 6.898 6.885 6.879 6.872 6.866
99-31 6.885 6.899 6.892 6.879 6.872 6.865 6.858
99-31+ 6.879 6.894 6.886 6.873 6.865 6.858 6.851
100-00 6.873 6.888 6.881 6.866 6.859 6.851 6.844
100-00+ 6.867 6.883 6.875 6.860 6.852 6.844 6.836
100-01 6.861 6.877 6.869 6.853 6.845 6.837 6.829
100-01+ 6.855 6.872 6.863 6.847 6.839 6.830 6.822
100-02 6.849 6.867 6.858 6.841 6.832 6.823 6.814
100-02+ 6.843 6.861 6.852 6.834 6.825 6.816 6.807
100-03 6.837 6.856 6.846 6.828 6.818 6.809 6.800
100-03+ 6.831 6.850 6.841 6.822 6.812 6.802 6.792
Avg. Life 3.081 3.505 3.277 2.911 2.750 2.609 2.479
Mod. Dur. 2.567 2.867 2.707 2.443 2.325 2.220 2.123
1st Pmt. 0.067 0.067 0.067 0.067 0.067 0.067 0.067
Last Pmt. 01/20/05 08/20/05 04/20/05 11/20/04 08/20/04 06/20/04 04/20/04
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>
Financial Strategies 09/05/97 05:00:28 pm Prudential Securities
Group IMPACT CMO/ABS Analytics - Price / DMrg Act/360 Incorporated
Deal ID/CUSIP FAMT73 Coupon * Cap Flr 0.00
Class A2 FLT LIBOR-1M+TBA Accr 0.00000 1st Pmt 10/20/97
Collateral 100%WL (Real) Factor on / /
N/GWAC (Orig) / (8.868/9.368) LIBOR-1M 5.65625
WAM (Orig) (27.683) Mat N/A Settle 09/26/97
CenterPrice 100-00 Inc 0.5 Table DMrg Act/360 Roll@
******** TO CALL ********
FIXED HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00
ARMS CPR 27.00 CPR 21.00 CPR 23.00 CPR 25.00 CPR 29.00 CPR 31.00 CPR 33.00
----- --------- --------- --------- --------- --------- --------- ---------
99-28+ 26.355 25.531 25.801 26.073 26.638 26.920 27.212
99-29 25.732 25.026 25.258 25.491 25.975 26.217 26.467
99-29+ 25.110 24.521 24.714 24.909 25.312 25.513 25.722
99-30 24.488 24.017 24.171 24.327 24.649 24.810 24.977
99-30+ 23.865 23.512 23.628 23.745 23.986 24.108 24.232
99-31 23.243 23.008 23.085 23.163 23.324 23.405 23.488
99-31+ 22.622 22.504 22.543 22.581 22.662 22.702 22.744
100-00 22.000 22.000 22.000 22.000 22.000 22.000 22.000
100-00+ 21.379 21.496 21.458 21.419 21.338 21.298 21.256
100-01 20.757 20.992 20.915 20.838 20.677 20.596 20.513
100-01+ 20.136 20.489 20.373 20.257 20.015 19.894 19.769
100-02 19.515 19.985 19.831 19.676 19.354 19.193 19.026
100-02+ 18.894 19.482 19.289 19.095 18.693 18.491 18.283
100-03 18.274 18.979 18.748 18.515 18.032 17.790 17.541
100-03+ 17.653 18.476 18.206 17.934 17.371 17.089 16.798
Avg. Life 2.837 3.609 3.313 3.061 2.643 2.474 2.321
Mod. Dur. 2.418 2.983 2.771 2.586 2.271 2.141 2.021
1st Pmt. 0.067 0.067 0.067 0.067 0.067 0.067 0.067
Last Pmt. 01/20/05 05/20/06 11/20/05 06/20/05 09/20/04 06/20/04 03/20/04
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>
AVAILABLE FUNDS CAP
===================
Cap: Net WAC - Trustee Fee - Surety Fee - 50bps cushion (starting month 7)
Date Av Funds Cap (30/360 Basis)
- ---------------
10/97 8.384
11/97 8.384
12/97 8.382
01/98 8.381
02/98 8.420
03/98 8.548
04/98 8.048
05/98 8.375
06/98 8.683
07/98 8.793
08/98 8.833
09/98 8.961
10/98 8.961
11/98 9.288
12/98 9.596
01/99 9.706
02/99 9.746
03/99 9.873
04/99 9.873
05/99 10.200
06/99 10.508
07/99 10.699
08/99 10.708
09/99 10.911
10/99 10.911
11/99 11.001
12/99 11.186
01/00 11.289
02/00 11.289
03/00 11.289
04/00 11.289
05/00 11.289
06/00 11.289
07/00 11.289
08/00 11.289
09/00 11.289
10/00 11.289
11/00 11.289
12/00 11.289
01/01 11.289
02/01 11.289
03/01 11.289
04/01 11.289
05/01 11.289
06/01 11.289
07/01 11.289
08/01 11.289
09/01 11.289
10/01 11.289
11/01 11.289
12/01 11.289
01/02 11.289
02/02 11.289
03/02 11.289
04/02 11.289
05/02 11.289
06/02 11.289
07/02 11.289
08/02 11.289
09/02 11.289
10/02 11.289
11/02 11.289
12/02 11.289
01/03 11.289
02/03 11.289
03/03 11.289 and 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>
- --------------------------------------------------------------------------------
- FAMT73
- Cut Off Date of Tape is 9/1/97
- FIX
- $28,631,067.46
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 380
Aggregate Unpaid Principal Balance: $28,631,067.46
Aggregate Original Principal Balance: $28,683,006.00
Weighted Average Gross Coupon: 9.848%
Gross Coupon Range: 7.990% - 17.250%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $75,344.91
Average Original Principal Balance: $75,481.59
Maximum Unpaid Principal Balance: $270,737.00
Minimum Unpaid Principal Balance: $14,907.55
Maximum Original Principal Balance: $270,737.00
Minimum Original Principal Balance: $15,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 298.800
Stated Rem Term Range: 82.000 - 360.000
Weighted Avg. Amortized Rem. Term: 312.954
Amortized Rem Term Range: 80.648 - 360.031
Weighted Average Age : 1.262
Age Range: 0.000 - 7.000
Weighted Average Original Term: 300.062
Original Term Range: 84.000 - 360.000
Weighted Average Original LTV: 52.901
Original LTV Range: 9.790% - 80.000%
Weighted Average Combined LTV: 53.167
Combined LTV Range: 9.790% - 80.000%
- --------------------------------------------------------------------------------
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>
COMBINED 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 11 1,186,021.74 4.14
70.01 to 75.00 23 2,379,602.12 8.31
65.01 to 70.00 31 3,278,459.99 11.45
60.01 to 65.00 39 3,324,748.62 11.61
55.01 to 60.00 42 3,634,474.34 12.69
50.01 to 55.00 39 3,320,382.86 11.60
45.01 to 50.00 39 2,927,029.87 10.22
40.01 to 45.00 37 2,618,855.44 9.15
35.01 to 40.00 33 1,817,593.77 6.35
30.01 to 35.00 29 1,468,858.16 5.13
25.01 to 30.00 26 1,193,704.42 4.17
20.01 to 25.00 21 1,115,732.79 3.90
15.01 to 20.00 8 266,970.90 0.93
10.01 to 15.00 1 74,939.44 0.26
5.01 to 10.00 1 23,693.00 0.08
- --------------------------------------------------------------------------
Total............ 380 $ 28,631,067.46 100.00%
==========================================================================
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 11 1,186,021.74 4.14
70.01 to 75.00 23 2,379,602.12 8.31
65.01 to 70.00 31 3,278,459.99 11.45
60.01 to 65.00 39 3,324,748.62 11.61
55.01 to 60.00 42 3,634,474.34 12.69
50.01 to 55.00 38 3,220,424.79 11.25
45.01 to 50.00 37 2,870,729.96 10.03
40.01 to 45.00 37 2,618,855.44 9.15
35.01 to 40.00 31 1,740,498.81 6.08
30.01 to 35.00 25 1,366,935.89 4.77
25.01 to 30.00 28 1,250,972.36 4.37
20.01 to 25.00 22 1,215,690.86 4.25
15.01 to 20.00 12 397,124.75 1.39
10.01 to 15.00 2 92,854.06 0.32
5.01 to 10.00 2 53,673.73 0.19
- --------------------------------------------------------------------------
Total............ 380 $ 28,631,067.46 100.00%
==========================================================================
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
7.50% < Gross Coupon <= 8.00% 5 534,532.62 1.87
8.00% < Gross Coupon <= 8.50% 8 623,660.46 2.18
8.50% < Gross Coupon <= 9.00% 105 8,582,843.78 29.98
9.00% < Gross Coupon <= 9.50% 64 5,166,855.90 18.05
9.50% < Gross Coupon <= 10.00% 76 5,772,584.65 20.16
10.00% < Gross Coupon <= 10.50% 39 2,719,177.58 9.50
10.50% < Gross Coupon <= 11.00% 30 2,026,998.26 7.08
11.00% < Gross Coupon <= 11.50% 15 1,008,386.98 3.52
11.50% < Gross Coupon <= 12.00% 14 709,214.25 2.48
12.00% < Gross Coupon <= 12.50% 4 307,078.56 1.07
12.50% < Gross Coupon <= 13.00% 7 321,238.33 1.12
13.00% < Gross Coupon <= 13.50% 4 290,708.97 1.02
13.50% < Gross Coupon <= 14.00% 5 444,139.41 1.55
14.00% < Gross Coupon <= 14.50% 1 14,907.55 0.05
14.50% < Gross Coupon <= 15.00% 2 77,315.84 0.27
17.00% < Gross Coupon <= 17.50% 1 31,424.32 0.11
- ----------------------------------------------------------------------------
Total.......... 380 $ 28,631,067.46 100.00%
============================================================================
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>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AZ 4 179,866.25 0.63
CA 105 8,977,399.97 31.36
CO 7 417,771.87 1.46
DC 2 120,669.00 0.42
FL 15 892,503.81 3.12
GA 6 311,128.79 1.09
IL 23 1,543,550.32 5.39
MA 4 317,333.27 1.11
MD 11 620,462.29 2.17
MI 1 154,545.23 0.54
MN 2 79,763.97 0.28
NJ 51 3,851,661.93 13.45
NY 84 6,441,043.59 22.50
OH 3 205,077.00 0.72
OR 13 762,959.40 2.66
PA 13 1,186,748.13 4.14
UT 8 616,509.00 2.15
VA 1 80,750.00 0.28
WA 27 1,871,323.64 6.54
- --------------------------------------------------------------------------
Total............... 380 $ 28,631,067.46 100.00%
==========================================================================
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
72 < Rem Term <= 84 1 110,105.52 0.38%
108 < Rem Term <= 120 5 219,823.60 0.77%
168 < Rem Term <= 180 110 7,542,778.23 26.34%
228 < Rem Term <= 240 26 2,293,620.54 8.01%
348 < Rem Term <= 360 238 18,464,739.57 64.49%
- -------------------------------------------------------------------
Total............ 380 28,631,067.46 100.00%
===================================================================
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
10,000 < Balance <= 15,000 1 14,907.55 0.05
15,000 < Balance <= 20,000 5 92,215.61 0.32
20,000 < Balance <= 25,000 8 181,978.11 0.64
25,000 < Balance <= 30,000 12 343,486.82 1.20
30,000 < Balance <= 35,000 14 463,308.54 1.62
35,000 < Balance <= 40,000 13 487,909.70 1.70
40,000 < Balance <= 45,000 24 1,024,028.63 3.58
45,000 < Balance <= 50,000 19 919,503.22 3.21
50,000 < Balance <= 55,000 16 842,119.49 2.94
55,000 < Balance <= 60,000 28 1,622,341.81 5.67
60,000 < Balance <= 65,000 20 1,255,456.78 4.38
65,000 < Balance <= 70,000 19 1,296,797.98 4.53
70,000 < Balance <= 75,000 26 1,900,539.39 6.64
75,000 < Balance <= 80,000 30 2,320,964.59 8.11
80,000 < Balance <= 85,000 20 1,666,823.33 5.82
85,000 < Balance <= 90,000 20 1,749,996.51 6.11
90,000 < Balance <= 95,000 20 1,848,508.63 6.46
95,000 < Balance <= 100,000 16 1,559,523.05 5.45
100,000 < Balance <= 125,000 42 4,621,019.38 16.14
125,000 < Balance <= 150,000 13 1,814,243.62 6.34
150,000 < Balance <= 200,000 9 1,448,330.37 5.06
200,000 < Balance <= 250,000 4 886,327.35 3.10
250,000 < Balance <= 300,000 1 270,737.00 0.95
- --------------------------------------------------------------------------
Total.................... 380 $ 28,631,067.46 100.00%
==========================================================================
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>
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family 347 26,075,786.05 91.08
Pud 4 314,755.66 1.10
Condominium 6 340,438.00 1.19
2-4 Family 23 1,900,087.75 6.64
- --------------------------------------------------------------------------
Total............... 380 $ 28,631,067.46 100.00%
==========================================================================
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 = Owner Occ. 359 27,193,846.42 94.98
2 = Investor 20 1,404,903.01 4.91
3 = Second Home 1 32,318.03 0.11
- --------------------------------------------------------------------------
Total.................. 380 $ 28,631,067.46 100.00%
==========================================================================
ORIGINAL JUNIOR LIEN RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Junior Lien Mortgage Principal Principal
Ratio Loans Balance Balance
30.01 to 40.00 3 147,853.42 0.52
40.01 to 50.00 2 76,126.93 0.27
50.01 to 60.00 2 54,419.72 0.19
60.01 to 70.00 1 24,557.11 0.09
70.01 to 80.00 1 32,318.03 0.11
90.01 to 100.00 371 28,295,792.25 98.83
- --------------------------------------------------------------------------
Total............ 380 $ 28,631,067.46 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
AMORTIZATION Loans Balance Balance
Fully Amortizing 351 26,334,830.59 91.98
Partially Amortizing 29 2,296,236.87 8.02
- --------------------------------------------------------------------------
Total.................. 380 $28,631,067.46 100.00%
==========================================================================
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>
- --------------------------------------------------------------------------------
- FAMT73
- Cut Off Date of Tape is 9/1/97
- ARM
- $37,896,111.12
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 421
Aggregate Unpaid Principal Balance: $37,896,111.12
Aggregate Original Principal Balance: $37,942,191.00
- --------------------------------------------------------------------------------
Weighted Average Coupon (Gross): 9.126%
Gross Coupon Range: 6.990% - 14.750%
Weighted Average Margin (Gross): 6.607%
Gross Margin Range: 4.990% - 10.130%
Weighted Average Life Cap (Gross): 16.052%
Gross Life Cap Range: 13.750% - 21.250%
Weighted Average Life Floor (Gross): 9.126%
Gross Life Floor Range: 6.990% - 14.750%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $90,014.52
Average Original Principal Balance: $90,123.97
Maximum Unpaid Principal Balance: $301,835.04
Minimum Unpaid Principal Balance: $9,763.44
Maximum Original Principal Balance: $302,000.00
Minimum Original Principal Balance: $20,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 343.714
Stated Rem Term Range: 120.000 - 360.000
Weighted Avg. Amortized Rem. Term: 343.567
Amortized Rem Term Range: 28.038 - 360.037
Weighted Average Age (First Pay thru Paid Thru): 0.622
Age Range: 0.000 - 5.000
Weighted Average Original Term: 344.336
Original Term Range: 120.000 - 360.000
Weighted Average Original LTV: 60.066
Original LTV Range: 14.370% - 81.460%
Weighted Average Periodic Interest Cap: 1.027%
Periodic Interest Cap Range: 1.000% - 2.000%
<TABLE>
<S> <C>
Weighted Average Months to Interest Roll: 8.450 * calculated from 9/97 to next rolldate
Months to Interest Roll Range: 1 - 32
</TABLE>
Weighted Average Interest Roll Frequency: 6.083
Interest Frequency Range: 6 - 36
- --------------------------------------------------------------------------------
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>
COMBINED 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
80.01 to 85.00 1 70,467.00 0.19
75.01 to 80.00 30 3,814,101.42 10.06
70.01 to 75.00 45 5,348,769.19 14.11
65.01 to 70.00 54 5,733,918.11 15.13
60.01 to 65.00 53 5,760,491.96 15.20
55.01 to 60.00 56 5,161,060.04 13.62
50.01 to 55.00 34 2,714,565.92 7.16
45.01 to 50.00 42 2,974,979.39 7.85
40.01 to 45.00 36 2,453,183.76 6.47
35.01 to 40.00 32 1,956,349.92 5.16
30.01 to 35.00 18 1,114,928.06 2.94
25.01 to 30.00 9 449,090.31 1.19
20.01 to 25.00 8 269,542.60 0.71
15.01 to 20.00 1 44,000.00 0.12
10.01 to 15.00 2 30,663.44 0.08
- --------------------------------------------------------------------------
Total............ 421 $ 37,896,111.12 100.00%
==========================================================================
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
80.01 to 85.00 1 70,467.00 0.19
75.01 to 80.00 30 3,814,101.42 10.06
70.01 to 75.00 45 5,348,769.19 14.11
65.01 to 70.00 54 5,733,918.11 15.13
60.01 to 65.00 53 5,760,491.96 15.20
55.01 to 60.00 56 5,161,060.04 13.62
50.01 to 55.00 34 2,714,565.92 7.16
45.01 to 50.00 42 2,974,979.39 7.85
40.01 to 45.00 36 2,453,183.76 6.47
35.01 to 40.00 32 1,956,349.92 5.16
30.01 to 35.00 18 1,114,928.06 2.94
25.01 to 30.00 9 449,090.31 1.19
20.01 to 25.00 8 269,542.60 0.71
15.01 to 20.00 1 44,000.00 0.12
10.01 to 15.00 2 30,663.44 0.08
- --------------------------------------------------------------------------
Total............ 421 $ 37,896,111.12 100.00%
==========================================================================
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
6.50% < Gross Coupon <= 7.00% 4 461,324.00 1.22
7.00% < Gross Coupon <= 7.50% 34 3,205,046.49 8.46
7.50% < Gross Coupon <= 8.00% 39 3,505,627.54 9.25
8.00% < Gross Coupon <= 8.50% 68 6,567,203.45 17.33
8.50% < Gross Coupon <= 9.00% 80 7,223,150.33 19.06
9.00% < Gross Coupon <= 9.50% 64 6,631,884.27 17.50
9.50% < Gross Coupon <= 10.00% 51 4,274,379.49 11.28
10.00% < Gross Coupon <= 10.50% 27 1,988,083.32 5.25
10.50% < Gross Coupon <= 11.00% 19 1,338,805.32 3.53
11.00% < Gross Coupon <= 11.50% 17 1,514,312.86 4.00
11.50% < Gross Coupon <= 12.00% 8 593,446.36 1.57
12.00% < Gross Coupon <= 12.50% 3 152,850.78 0.40
12.50% < Gross Coupon <= 13.00% 1 63,764.76 0.17
13.00% < Gross Coupon <= 13.50% 1 60,944.58 0.16
13.50% < Gross Coupon <= 14.00% 3 232,326.23 0.61
14.50% < Gross Coupon <= 15.00% 2 82,961.34 0.22
- ----------------------------------------------------------------------------
Total.......... 421 $ 37,896,111.12 100.00%
============================================================================
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>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AZ 13 931,495.28 2.46
CA 73 8,328,766.09 21.98
CO 20 1,898,633.77 5.01
DC 3 367,108.94 0.97
FL 17 1,236,001.67 3.26
GA 5 427,377.87 1.13
ID 2 139,641.92 0.37
IL 55 4,690,264.89 12.38
MA 29 2,417,399.34 6.38
MD 8 508,594.16 1.34
MI 6 507,293.02 1.34
MN 1 49,948.85 0.13
NC 2 99,898.73 0.26
NJ 42 3,343,307.40 8.82
NY 43 4,157,338.91 10.97
OH 17 1,165,763.74 3.08
OR 20 1,692,499.49 4.47
PA 11 848,638.16 2.24
UT 20 1,679,560.24 4.43
VA 6 808,539.07 2.13
WA 28 2,598,039.58 6.86
- --------------------------------------------------------------------------
Total............... 421 $ 37,896,111.12 100.00%
==========================================================================
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
108 < Rem Term <= 120 1 68,160.00 0.18%
168 < Rem Term <= 180 40 2,902,364.23 7.66%
228 < Rem Term <= 240 6 456,813.00 1.21%
348 < Rem Term <= 360 374 34,468,773.89 90.96%
- -------------------------------------------------------------------
Total............ 421 37,896,111.12 100.00%
===================================================================
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
5,000 < Balance <= 10,000 1 9,763.44 0.03
15,000 < Balance <= 20,000 1 20,000.00 0.05
20,000 < Balance <= 25,000 2 41,064.00 0.11
30,000 < Balance <= 35,000 15 496,138.55 1.31
35,000 < Balance <= 40,000 8 310,826.63 0.82
40,000 < Balance <= 45,000 20 855,560.77 2.26
45,000 < Balance <= 50,000 18 869,069.62 2.29
50,000 < Balance <= 55,000 28 1,470,587.26 3.88
55,000 < Balance <= 60,000 25 1,440,546.44 3.80
60,000 < Balance <= 65,000 30 1,877,361.31 4.95
65,000 < Balance <= 70,000 23 1,561,737.85 4.12
70,000 < Balance <= 75,000 15 1,092,707.65 2.88
75,000 < Balance <= 80,000 21 1,639,360.40 4.33
80,000 < Balance <= 85,000 23 1,896,984.82 5.01
85,000 < Balance <= 90,000 16 1,403,963.79 3.70
90,000 < Balance <= 95,000 24 2,222,247.18 5.86
95,000 < Balance <= 100,000 20 1,953,874.77 5.16
100,000 < Balance <= 125,000 60 6,662,750.01 17.58
125,000 < Balance <= 150,000 25 3,400,203.87 8.97
150,000 < Balance <= 200,000 34 5,754,925.70 15.19
200,000 < Balance <= 250,000 9 2,053,007.21 5.42
250,000 < Balance <= 300,000 2 561,594.81 1.48
300,000 < Balance <= 350,000 1 301,835.04 0.80
- --------------------------------------------------------------------------
Total.................... 421 $ 37,896,111.12 100.00%
==========================================================================
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>
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family 382 34,838,802.84 91.93
Pud 7 596,571.94 1.57
Condominium 7 442,024.04 1.17
2-4 Family 25 2,018,712.30 5.33
- --------------------------------------------------------------------------
Total............... 421 $ 37,896,111.12 100.00%
==========================================================================
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 = Owner Occ. 394 35,621,670.71 94.00
2 = Investor 24 1,899,033.14 5.01
3 = Second Home 3 375,407.27 0.99
- --------------------------------------------------------------------------
Total.................. 421 $ 37,896,111.12 100.00%
==========================================================================
DISTRIBUTION OF
MAXIMUM MORTGAGE RATES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
13.50 < Life Cap <= 14.00 5 536,265.49 1.42
14.00 < Life Cap <= 14.50 36 3,434,494.08 9.06
14.50 < Life Cap <= 15.00 41 3,601,029.54 9.50
15.00 < Life Cap <= 15.50 75 7,177,641.42 18.94
15.50 < Life Cap <= 16.00 77 7,119,924.00 18.79
16.00 < Life Cap <= 16.50 69 6,909,511.14 18.23
16.50 < Life Cap <= 17.00 47 3,616,659.78 9.54
17.00 < Life Cap <= 17.50 20 1,563,876.50 4.13
17.50 < Life Cap <= 18.00 21 1,750,068.58 4.62
18.00 < Life Cap <= 18.50 13 1,115,246.61 2.94
18.50 < Life Cap <= 19.00 9 568,482.10 1.50
19.00 < Life Cap <= 19.50 1 62,914.97 0.17
19.50 < Life Cap <= 20.00 2 96,749.36 0.26
20.00 < Life Cap <= 20.50 4 293,270.81 0.77
21.00 < Life Cap <= 21.50 1 49,976.74 0.13
- --------------------------------------------------------------------------
Total................. 421 $ 37,896,111.12 100.00%
==========================================================================
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>
DISTRIBUTION OF
MINIMUM MORTGAGE RATES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
6.50 < Life Floor <= 7.00 4 461,324.00 1.22
7.00 < Life Floor <= 7.50 34 3,205,046.49 8.46
7.50 < Life Floor <= 8.00 39 3,505,627.54 9.25
8.00 < Life Floor <= 8.50 68 6,567,203.45 17.33
8.50 < Life Floor <= 9.00 80 7,223,150.33 19.06
9.00 < Life Floor <= 9.50 64 6,631,884.27 17.50
9.50 < Life Floor <= 10.00 51 4,274,379.49 11.28
10.00 < Life Floor <= 10.50 27 1,988,083.32 5.25
10.50 < Life Floor <= 11.00 19 1,338,805.32 3.53
11.00 < Life Floor <= 11.50 17 1,514,312.86 4.00
11.50 < Life Floor <= 12.00 8 593,446.36 1.57
12.00 < Life Floor <= 12.50 3 152,850.78 0.40
12.50 < Life Floor <= 13.00 1 63,764.76 0.17
13.00 < Life Floor <= 13.50 1 60,944.58 0.16
13.50 < Life Floor <= 14.00 3 232,326.23 0.61
14.50 < Life Floor <= 15.00 2 82,961.34 0.22
- --------------------------------------------------------------------------
Total................. 421 $ 37,896,111.12 100.00%
==========================================================================
DISTRIBUTION OF
MARGINS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
4.0 < Margin <= 5.0 31 2,934,675.29 7.74
5.0 < Margin <= 6.0 112 10,509,462.73 27.73
6.0 < Margin <= 7.0 135 12,570,429.09 33.17
7.0 < Margin <= 8.0 116 9,573,115.23 25.26
8.0 < Margin <= 9.0 24 2,115,559.44 5.58
9.0 < Margin <= 10.0 1 68,160.00 0.18
10.0 < Margin <= 11.0 2 124,709.34 0.33
- --------------------------------------------------------------------------
Total................. 421 $ 37,896,111.12 100.00%
==========================================================================
LOAN SUMMARY STRATIFIED BY
PERIODIC CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Periodic Mortgage Principal Principal
Cap Loans Balance Balance
1.000 405 35,876,597.05 94.67
1.500 15 1,986,526.91 5.24
2.000 1 32,987.16 0.09
- --------------------------------------------------------------------------
Total................. 421 $ 37,896,111.12 100.00%
==========================================================================
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>
ARM INDEX
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------
WA Max. Orig Total
# % Rem WA WA WA Loan Current
Loan Feature Loan Pool WAC Term MARGIN LIFECAP FLOOR Amount Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
6M Libor 359 85.07 8.979 341.24 6.636 15.961 8.979 $273,130 $32,239,922.34
2/28 * 62 14.93 9.965 357.82 6.445 16.572 9.965 $302,000 $5,656,188.78
- -------------------------------------------------------------------------------------------------------------------
Total..... 421 100.00% 9.126 343.71 6.607 16.052 9.126 $302,000 $37,896,111.12
===================================================================================================================
one loan rolls every 3 years
</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.
LEHMAN BROTHERS
COMPUTATIONAL MATERIALS
$85,000,000 Certificates (Approximate)
First Alliance Mortgage Loan Trust 1997-3
Mortgage Loan Asset Backed Certificates, Series 1997-3
First Alliance Mortgage Company (Company and Servicer)
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3
CLASS A-1 PRICE-YIELD TABLE
*** PRICED TO 10% CALL ***
<TABLE>
<CAPTION>
FIXED HEP 27.00 HEP 23.00 HEP 25.00 HEP 29.00 HEP 31.00 HEP 33.00 HEP 35.00
ARMS CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00 CPR 27.00
- ----- --------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99-28+ 6.916 6.926 6.921 6.911 6.905 6.900 6.895
99-29 6.910 6.921 6.915 6.904 6.899 6.893 6.888
99-29+ 6.904 6.915 6.909 6.898 6.892 6.886 6.880
99-30 6.898 6.910 6.904 6.892 6.885 6.879 6.873
99-30+ 6.892 6.904 6.898 6.885 6.879 6.872 6.866
99-31 6.885 6.899 6.892 6.879 6.872 6.865 6.858
99-31+ 6.879 6.894 6.886 6.873 6.865 6.858 6.851
100-00 6.873 6.888 6.881 6.866 6.859 6.851 6.844
100-00+ 6.867 6.883 6.875 6.860 6.852 6.844 6.836
100-01 6.861 6.877 6.869 6.853 6.845 6.837 6.829
100-01+ 6.855 6.872 6.863 6.847 6.839 6.830 6.822
100-02 6.849 6.867 6.858 6.841 6.832 6.823 6.814
100-02+ 6.843 6.861 6.852 6.834 6.825 6.816 6.807
100-03 6.837 6.856 6.846 6.828 6.818 6.809 6.800
100-03+ 6.831 6.850 6.841 6.822 6.812 6.802 6.792
Avg. Life 3.081 3.505 3.277 2.911 2.75 2.609 2.479
Mod. Dur. 2.567 2.867 2.707 2.443 2.325 2.220 2.123
1st Pmt. 0.067 0.067 0.067 0.067 0.067 0.067 0.067
Last Pmt. 1/20/05 8/20/05 4/20/05 11/20/04 8/20/04 6/20/04 4/20/04
</TABLE>
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-2
CLASS A2 DISCOUNT MARGIN ACT/360 TABLE
*** PRICED TO 10% CALL ***
<TABLE>
<CAPTION>
FIXED HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00 HEP 27.00
ARMS CPR 27.00 CPR 21.00 CPR 23.00 CPR 25.00 CPR 29.00 CPR 31.00 CPR 33.00
- ----- --------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99-28+ 26.355 25.531 25.801 26.073 26.638 26.920 27.212
99-29 25.732 25.026 25.258 25.491 25.975 26.217 26.467
99-29+ 25.110 24.521 24.714 24.909 25.312 25.513 25.722
99-30 24.488 24.017 24.171 24.327 24.649 24.810 24.977
99-30+ 23.865 23.512 23.628 23.745 23.986 24.108 24.232
99-31 23.243 23.008 23.085 23.163 23.324 23.405 23.488
99-31+ 22.622 22.504 22.543 22.581 22.662 22.702 22.744
100-00 22.000 22.000 22.000 22.000 22.000 22.000 22.000
100-00+ 21.379 21.496 21.458 21.419 21.338 21.298 21.256
100-01 20.757 20.992 20.915 20.838 20.677 20.596 20.513
100-01+ 20.136 20.489 20.373 20.257 20.015 19.894 19.769
100-02 19.515 19.985 19.831 19.676 19.354 19.193 19.026
100-02+ 18.894 19.482 19.289 19.095 18.693 18.491 18.283
100-03 18.274 18.979 18.748 18.515 18.032 17.790 17.541
100-03+ 17.653 18.476 18.206 17.934 17.371 17.089 16.798
Avg. Life 2.837 3.609 3.313 3.061 2.643 2.474 2.321
Mod. Dur. 2.418 2.983 2.771 2.586 2.271 2.141 2.021
1st Pmt. 0.067 0.067 0.067 0.067 0.067 0.067 0.067
Last Pmt. 1/20/05 5/20/06 11/20/05 6/20/05 9/20/04 6/20/04 3/20/04
</TABLE>
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
<TABLE>
<CAPTION>
First Alliance Mortgage Loan Trust 1997-3
AVAILABLE FUNDS CAP
Date Available Funds Cap (30/360 Basis) Date Available Funds Cap (30/360 Basis)
- -------------------------------------------------------- ------------------------------------------------------
<S> <C> <C> <C>
10/97 8.384 7/00 11.289
11/97 8.384 8/00 11.289
12/97 8.382 9/00 11.289
1/98 8.381 10/00 11.289
2/98 8.420 11/00 11.289
3/98 8.548 12/00 11.289
4/98 8.048 1/97 11.289
5/98 8.375 2/97 11.289
6/98 8.683 3/97 11.289
7/98 8.793 4/97 11.289
8/98 8.833 5/97 11.289
9/98 8.961 6/97 11.289
10/98 8.961 7/97 11.289
11/98 9.288 8/97 11.289
12/98 9.596 9/97 11.289
1/99 9.706 10/97 11.289
2/99 9.746 11/97 11.289
3/99 9.873 12/97 11.289
4/99 9.873 1/97 11.289
5/99 10.200 2/97 11.289
6/99 10.508 3/97 11.289
7/99 10.699 4/97 11.289
8/99 10.708 5/97 11.289
9/99 10.911 6/97 11.289
10/99 10.911 7/97 11.289
11/99 11.001 8/97 11.289
12/99 11.186 9/97 11.289
1/00 11.289 10/97 11.289
2/00 11.289 11/97 11.289
3/00 11.289 12/97 11.289
4/00 11.289 1/97 11.289
5/00 11.289 2/97 11.289
6/00 11.289 3/97 11.289
</TABLE>
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP I COLLATERAL
- FAMT73
- Cut Off Date of Tape is 9/1/97
- FIX
- $28,631,067.46
- Mortgage Summary Report
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 380
Aggregate Unpaid Principal Balance: $28,631,067.46
Aggregate Original Principal Balance: $28,683,006.00
Weighted Average Gross Coupon: 9.848%
Gross Coupon Range: 7.990% - 17.250%
- --------------------------------------------------------------------------------
Average Unpaid Principal Balance: $75,344.91
Average Original Principal Balance: $75,481.59
Maximum Unpaid Principal Balance: $270,737.00
Minimum Unpaid Principal Balance: $14,907.55
Maximum Original Principal Balance: $270,737.00
Minimum Original Principal Balance: $15,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 298.800
Stated Rem Term Range: 82.000 - 360.000
Weighted Avg. Amortized Rem. Term: 312.954
Amortized Rem Term Range: 80.648 - 360.031
Weighted Average Age: 1.262
Age Range: 0.000 - 7.000
Weighted Average Original Term: 300.062
Original Term Range: 84.000 - 360.000
Weighted Average Original LTV: 52.901
Original LTV Range: 9.790% - 80.000%
Weighted Average Combined LTV: 53.167
Combined LTV Range: 9.790% - 80.000%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP I COLLATERAL
- --------------------------------------------------------------------------------
COMBINED 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 11 1,186,021.74 4.14
70.01 to 75.00 23 2,379,602.12 8.31
65.01 to 70.00 31 3,278,459.99 11.45
60.01 to 65.00 39 3,324,748.62 11.61
55.01 to 60.00 42 3,634,474.34 12.69
50.01 to 55.00 39 3,320,382.86 11.60
45.01 to 50.00 39 2,927,029.87 10.22
40.01 to 45.00 37 2,618,855.44 9.15
35.01 to 40.00 33 1,817,593.77 6.35
30.01 to 35.00 29 1,468,858.16 5.13
25.01 to 30.00 26 1,193,704.42 4.17
20.01 to 25.00 21 1,115,732.79 3.90
15.01 to 20.00 8 266,970.90 0.93
10.01 to 15.00 1 74,939.44 0.26
5.01 to 10.00 1 23,693.00 0.08
- -------------------- ------------- --------------------- --------------
Total............ 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 11 1,186,021.74 4.14
70.01 to 75.00 23 2,379,602.12 8.31
65.01 to 70.00 31 3,278,459.99 11.45
60.01 to 65.00 39 3,324,748.62 11.61
55.01 to 60.00 42 3,634,474.34 12.69
50.01 to 55.00 38 3,220,424.79 11.25
45.01 to 50.00 37 2,870,729.96 10.03
40.01 to 45.00 37 2,618,855.44 9.15
35.01 to 40.00 31 1,740,498.81 6.08
30.01 to 35.00 25 1,366,935.89 4.77
25.01 to 30.00 28 1,250,972.36 4.37
20.01 to 25.00 22 1,215,690.86 4.25
15.01 to 20.00 12 397,124.75 1.39
10.01 to 15.00 2 92,854.06 0.32
5.01 to 10.00 2 53,673.73 0.19
- --------------------- --------- --------------------- ---------------
Total............ 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP I COLLATERAL
- --------------------------------------------------------------------------------
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Gross Mortgage Number of Unpaid Aggregate
Interest Rate Mortgage Principal Principal
Range Loans Balance Balance
7.50% < Gross Coupon <= 8.00% 5 534,532.62 1.87
8.00% < Gross Coupon <= 8.50% 8 623,660.46 2.18
8.50% < Gross Coupon <= 9.00% 105 8,582,843.78 29.98
9.00% < Gross Coupon <= 9.50% 64 5,166,855.90 18.05
9.50% < Gross Coupon <= 10.00% 76 5,772,584.65 20.16
10.00% < Gross Coupon <= 10.50% 39 2,719,177.58 9.50
10.50% < Gross Coupon <= 11.00% 30 2,026,998.26 7.08
11.00% < Gross Coupon <= 11.50% 15 1,008,386.98 3.52
11.50% < Gross Coupon <= 12.00% 14 709,214.25 2.48
12.00% < Gross Coupon <= 12.50% 4 307,078.56 1.07
12.50% < Gross Coupon <= 13.00% 7 321,238.33 1.12
13.00% < Gross Coupon <= 13.50% 4 290,708.97 1.02
13.50% < Gross Coupon <= 14.00% 5 444,139.41 1.55
14.00% < Gross Coupon <= 14.50% 1 14,907.55 0.05
14.50% < Gross Coupon <= 15.00% 2 77,315.84 0.27
17.00% < Gross Coupon <= 17.50% 1 31,424.32 0.11
- -------------------------------- -------- ----------------- -----------------
Total.......... 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP I COLLATERAL
- --------------------------------------------------------------------------------
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AZ 4 179,866.25 0.63
CA 105 8,977,399.97 31.36
CO 7 417,771.87 1.46
DC 2 120,669.00 0.42
FL 15 892,503.81 3.12
GA 6 311,128.79 1.09
IL 23 1,543,550.32 5.39
MA 4 317,333.27 1.11
MD 11 620,462.29 2.17
MI 1 154,545.23 0.54
MN 2 79,763.97 0.28
NJ 51 3,851,661.93 13.45
NY 84 6,441,043.59 22.5
OH 3 205,077.00 0.72
OR 13 762,959.40 2.66
PA 13 1,186,748.13 4.14
UT 8 616,509.00 2.15
VA 1 80,750.00 0.28
WA 27 1,871,323.64 6.54
- -------------------- --------------- --------------------- ------------------
Total............... 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
72 < Rem Term <= 84 1 110,105.52 0.38
108 < Rem Term <= 120 5 219,823.60 0.77
168 < Rem Term <= 180 110 7,542,778.23 26.34
228 < Rem Term <= 240 26 2,293,620.54 8.01
348 < Rem Term <= 360 238 18,464,739.57 64.49
- --------------------- ---------- --------------------- ---------------
Total............ 380 $28,631,067.46 100.00%
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP I COLLATERAL
- --------------------------------------------------------------------------------
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
10,000 < Balance <= 15,000 1 14,907.55 0.05
15,000 < Balance <= 20,000 5 92,215.61 0.32
20,000 < Balance <= 25,000 8 181,978.11 0.64
25,000 < Balance <= 30,000 12 343,486.82 1.20
30,000 < Balance <= 35,000 14 463,308.54 1.62
35,000 < Balance <= 40,000 13 487,909.70 1.70
40,000 < Balance <= 45,000 24 1,024,028.63 3.58
45,000 < Balance <= 50,000 19 919,503.22 3.21
50,000 < Balance <= 55,000 16 842,119.49 2.94
55,000 < Balance <= 60,000 28 1,622,341.81 5.67
60,000 < Balance <= 65,000 20 1,255,456.78 4.38
65,000 < Balance <= 70,000 19 1,296,797.98 4.53
70,000 < Balance <= 75,000 26 1,900,539.39 6.64
75,000 < Balance <= 80,000 30 2,320,964.59 8.11
80,000 < Balance <= 85,000 20 1,666,823.33 5.82
85,000 < Balance <= 90,000 20 1,749,996.51 6.11
90,000 < Balance <= 95,000 20 1,848,508.63 6.46
95,000 < Balance <= 100,000 16 1,559,523.05 5.45
100,000 < Balance <= 125,000 42 4,621,019.38 16.14
125,000 < Balance <= 150,000 13 1,814,243.62 6.34
150,000 < Balance <= 200,000 9 1,448,330.37 5.06
200,000 < Balance <= 250,000 4 886,327.35 3.10
250,000 < Balance <= 300,000 1 270,737.00 0.95
- ----------------------------------------- ----------------- ------------
Total.................... 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family 347 26,075,786.05 91.08
Pud 4 314,755.66 1.10
Condominium 6 340,438.00 1.19
2-4 Family 23 1,900,087.75 6.64
- ------------------- ----------- --------------------- -------------
Total.............. 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP I COLLATERAL
- --------------------------------------------------------------------------------
LOAN SUMMARY STRATIFIED BY OWNER OCCUPANY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Occupancy Status Loans Balance Balance
Primary Home 359 27,193,846.42 94.98
Investment 20 1,404,903.01 4.91
Second Home 1 32,318.03 0.11
- ------------------- ----------- ------------------- ---------------
Total.............. 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
ORIGINAL JUNIOR LIEN RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Junior Lien Raio Loans Balance Balance
30.01 to 40.00 3 147,853.42 0.52
40.01 to 50.00 2 76,126.93 0.27
50.01 to 60.00 2 54,419.72 0.19
60.01 to 70.00 1 24,557.11 0.09
70.01 to 80.00 1 32,318.03 0.11
90.01 to 100.00 371 28,295,792.25 98.83
- --------------------- ------- --------------------- ---------------
Total............ 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
LOAN SUMMARY STRATIFIED BY AMORTIZATION
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Amortization Loans Balance Balance
Fully Amortizing 351 26,334,830.59 91.98
Partially Amortizing 29 2,296,236.87 8.02
- ---------------------- ---------- ------------------- -----------------
Total................. 380 $28,631,067.46 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- FAMT73
- Cut Off Date of Tape is 9/1/97
- ARM
- $37,896,111.12
- --------------------------------------------------------------------------------
Number of Mortgage Loans: 421
Aggregate Unpaid Principal Balance: $37,896,111.12
Aggregate Original Principal Balance: $37,942,191.00
- -----------------------------------------------------------------------------
Weighted Average Coupon (Gross): 9.126%
Gross Coupon Range: 6.990% - 14.750%
Weighted Average Margin (Gross): 6.607%
Gross Margin Range: 4.990% - 10.130%
Weighted Average Life Cap (Gross): 16.052%
Gross Life Cap Range: 13.750% - 21.250%
Weighted Average Life Floor (Gross): 9.126%
Gross Life Floor Range: 6.990% - 14.750%
- --------------------------------------------------------------------------
Average Unpaid Principal Balance: $90,014.52
Average Original Principal Balance: $90,123.97
Maximum Unpaid Principal Balance: $301,835.04
Minimum Unpaid Principal Balance: $9,763.44
Maximum Original Principal Balance: $302,000.00
Minimum Original Principal Balance: $20,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date): 343.714
Stated Rem Term Range: 120.000 - 360.000
Weighted Avg. Amortized Rem. Term: 343.567
Amortized Rem Term Range: 28.038 - 360.037
Weighted Average Age (First Pay thru Paid Thru): 0.622
Age Range: 0.000 - 5.000
Weighted Average Original Term: 344.336
Original Term Range: 120.000 - 360.000
Weighted Average Original LTV: 60.066
Original LTV Range: 14.370% - 81.460%
Weighted Average Periodic Interest Cap: 1.027%
Periodic Interest Cap Range: 1.000% - 2.000%
Weighted Average Months to Interest Roll: 8.450 *calculated
from 9/97 to
next rolldate
Months to Interest Roll Range: 1 - 32
Weighted Average Interest Roll Frequency: 6.083
Interest Frequency Range: 6 - 36
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
COMBINED LOAN-TO-VALUE RATIOS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Combined Mortgage Principal Principal
Loan-To-Value Ratio Loans Balance Balance
80.01 to 85.00 1 70,467.00 0.19
75.01 to 80.00 30 3,814,101.42 10.06
70.01 to 75.00 45 5,348,769.19 14.11
65.01 to 70.00 54 5,733,918.11 15.13
60.01 to 65.00 53 5,760,491.96 15.2
55.01 to 60.00 56 5,161,060.04 13.62
50.01 to 55.00 34 2,714,565.92 7.16
45.01 to 50.00 42 2,974,979.39 7.85
40.01 to 45.00 36 2,453,183.76 6.47
35.01 to 40.00 32 1,956,349.92 5.16
30.01 to 35.00 18 1,114,928.06 2.94
25.01 to 30.00 9 449,090.31 1.19
20.01 to 25.00 8 269,542.60 0.71
15.01 to 20.00 1 44,000.00 0.12
10.01 to 15.00 2 30,663.44 0.08
- ---------------------- ---------- ------------------- -----------------
Total............ 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
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
80.01 to 85.00 1 70,467.00 0.19
75.01 to 80.00 30 3,814,101.42 10.06
70.01 to 75.00 45 5,348,769.19 14.11
65.01 to 70.00 54 5,733,918.11 15.13
60.01 to 65.00 53 5,760,491.96 15.2
55.01 to 60.00 56 5,161,060.04 13.62
50.01 to 55.00 34 2,714,565.92 7.16
45.01 to 50.00 42 2,974,979.39 7.85
40.01 to 45.00 36 2,453,183.76 6.47
35.01 to 40.00 32 1,956,349.92 5.16
30.01 to 35.00 18 1,114,928.06 2.94
25.01 to 30.00 9 449,090.31 1.19
20.01 to 25.00 8 269,542.60 0.71
15.01 to 20.00 1 44,000.00 0.12
10.01 to 15.00 2 30,663.44 0.08
- --------------------- ------- --------------------- ----------------
Total............ 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
GROSS MORTGAGE INTEREST RATE RANGE
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Mortgage Principal Principal
Interest Rate Range Loans Balance Balance
6.50% < Gross Coupon <= 7.00% 4 461,324.00 1.22
7.00% < Gross Coupon <= 7.50% 34 3,205,046.49 8.46
7.50% < Gross Coupon <= 8.00% 39 3,505,627.54 9.25
8.00% < Gross Coupon <= 8.50% 68 6,567,203.45 17.33
8.50% < Gross Coupon <= 9.00% 80 7,223,150.33 19.06
9.00% < Gross Coupon <= 9.50% 64 6,631,884.27 17.50
9.50% < Gross Coupon <= 10.00% 51 4,274,379.49 11.28
10.00% < Gross Coupon <= 10.50% 27 1,988,083.32 5.25
10.50% < Gross Coupon <= 11.00% 19 1,338,805.32 3.53
11.00% < Gross Coupon <= 11.50% 17 1,514,312.86 4.00
11.50% < Gross Coupon <= 12.00% 8 593,446.36 1.57
12.00% < Gross Coupon <= 12.50% 3 152,850.78 0.40
12.50% < Gross Coupon <= 13.00% 1 63,764.76 0.17
13.00% < Gross Coupon <= 13.50% 1 60,944.58 0.16
13.50% < Gross Coupon <= 14.00% 3 232,326.23 0.61
14.50% < Gross Coupon <= 15.00% 2 82,961.34 0.22
- -------------------------------- -------- ----------- ------------
Total.......... 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
State Loans Balance Balance
AZ 13 931,495.28 2.46
CA 73 8,328,766.09 21.98
CO 20 1,898,633.77 5.01
DC 3 367,108.94 0.97
FL 17 1,236,001.67 3.26
GA 5 427,377.87 1.13
ID 2 139,641.92 0.37
IL 55 4,690,264.89 12.38
MA 29 2,417,399.34 6.38
MD 8 508,594.16 1.34
MI 6 507,293.02 1.34
MN 1 49,948.85 0.13
NC 2 99,898.73 0.26
NJ 42 3,343,307.40 8.82
NY 43 4,157,338.91 10.97
OH 17 1,165,763.74 3.08
OR 20 1,692,499.49 4.47
PA 11 848,638.16 2.24
UT 20 1,679,560.24 4.43
VA 6 808,539.07 2.13
WA 28 2,598,039.58 6.86
- --------------------- ------- --------------------- ---------------
Total............... 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REMAINING MONTHS TO STATED MATURITY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Remaining Term Loans Balance Balance
108 < Rem Term <= 120 1 68,160.00 0.18
168 < Rem Term <= 180 40 2,902,364.23 7.66
228 < Rem Term <= 240 6 456,813.00 1.21
348 < Rem Term <= 360 374 34,468,773.89 90.96
- --------------------- --------- --------------- ---------------
Total............ 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
CURRENT MORTGAGE LOAN AMOUNTS
Percentage of
Aggregate Cut-Off Date
Current Number of Unpaid Aggregate
Mortgage Loan Mortgage Principal Principal
Principal Balance Loans Balance Balance
5,000 < Balance <= 10,000 1 9,763.44 0.03
15,000 < Balance <= 20,000 1 20,000.00 0.05
20,000 < Balance <= 25,000 2 41,064.00 0.11
30,000 < Balance <= 35,000 15 496,138.55 1.31
35,000 < Balance <= 40,000 8 310,826.63 0.82
40,000 < Balance <= 45,000 20 855,560.77 2.26
45,000 < Balance <= 50,000 18 869,069.62 2.29
50,000 < Balance <= 55,000 28 1,470,587.26 3.88
55,000 < Balance <= 60,000 25 1,440,546.44 3.80
60,000 < Balance <= 65,000 30 1,877,361.31 4.95
65,000 < Balance <= 70,000 23 1,561,737.85 4.12
70,000 < Balance <= 75,000 15 1,092,707.65 2.88
75,000 < Balance <= 80,000 21 1,639,360.40 4.33
80,000 < Balance <= 85,000 23 1,896,984.82 5.01
85,000 < Balance <= 90,000 16 1,403,963.79 3.70
90,000 < Balance <= 95,000 24 2,222,247.18 5.86
95,000 < Balance <= 100,000 20 1,953,874.77 5.16
100,000 < Balance <= 125,000 60 6,662,750.01 17.58
125,000 < Balance <= 150,000 25 3,400,203.87 8.97
150,000 < Balance <= 200,000 34 5,754,925.70 15.19
200,000 < Balance <= 250,000 9 2,053,007.21 5.42
250,000 < Balance <= 300,000 2 561,594.81 1.48
300,000 < Balance <= 350,000 1 301,835.04 0.80
- -------------------------------- -------- ---------------- --------------
Total.................... 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
MORTGAGED PROPERTIES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Loans Balance Balance
Single Family 382 34,838,802.84 91.93
Pud 7 596,571.94 1.57
Condominium 7 442,024.04 1.17
2-4 Family 25 2,018,712.30 5.33
- ------------------- ----- ------------- --------------
Total.............. 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
LOAN SUMMARY STRATIFIED BY OWNER OCCUPANCY
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Mortgage Principal Principal
Occupancy Status Loans Balance Balance
Primary Home 394 35,621,670.71 94.00
Investment 24 1,899,033.14 5.01
Second Home 3 375,407.27 0.99
- ------------------- ----- ------------------- ---------------
Total.............. 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DISTRIBUTION OF MAXIMUM MORTGAGE RATES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Cap Loans Balance Balance
13.50 < Life Cap <= 14.00 5 536,265.49 1.42
14.00 < Life Cap <= 14.50 36 3,434,494.08 9.06
14.50 < Life Cap <= 15.00 41 3,601,029.54 9.50
15.00 < Life Cap <= 15.50 75 7,177,641.42 18.94
15.50 < Life Cap <= 16.00 77 7,119,924.00 18.79
16.00 < Life Cap <= 16.50 69 6,909,511.14 18.23
16.50 < Life Cap <= 17.00 47 3,616,659.78 9.54
17.00 < Life Cap <= 17.50 20 1,563,876.50 4.13
17.50 < Life Cap <= 18.00 21 1,750,068.58 4.62
18.00 < Life Cap <= 18.50 13 1,115,246.61 2.94
18.50 < Life Cap <= 19.00 9 568,482.10 1.50
19.00 < Life Cap <= 19.50 1 62,914.97 0.17
19.50 < Life Cap <= 20.00 2 96,749.36 0.26
20.00 < Life Cap <= 20.50 4 293,270.81 0.77
21.00 < Life Cap <= 21.50 1 49,976.74 0.13
- --------------------------- ----- ---------- --------------
Total................. 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
DISTRIBUTION OF MINIMUM MORTGAGE RATES
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Life Floor Loans Balance Balance
6.50 < Life Floor <= 7.00 4 461,324.00 1.22
7.00 < Life Floor <= 7.50 34 3,205,046.49 8.46
7.50 < Life Floor <= 8.00 39 3,505,627.54 9.25
8.00 < Life Floor <= 8.50 68 6,567,203.45 17.33
8.50 < Life Floor <= 9.00 80 7,223,150.33 19.06
9.00 < Life Floor <= 9.50 64 6,631,884.27 17.50
9.50 < Life Floor <= 10.00 51 4,274,379.49 11.28
10.00 < Life Floor <= 10.50 27 1,988,083.32 5.25
10.50 < Life Floor <= 11.00 19 1,338,805.32 3.53
11.00 < Life Floor <= 11.50 17 1,514,312.86 4.00
11.50 < Life Floor <= 12.00 8 593,446.36 1.57
12.00 < Life Floor <= 12.50 3 152,850.78 0.40
12.50 < Life Floor <= 13.00 1 63,764.76 0.17
13.00 < Life Floor <= 13.50 1 60,944.58 0.16
13.50 < Life Floor <= 14.00 3 232,326.23 0.61
14.50 < Life Floor <= 15.00 2 82,961.34 0.22
- --------------------------- ----- ---------- --------------
Total................. 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DISTRIBUTION OF MARGINS
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Gross Mortgage Principal Principal
Margin Loans Balance Balance
4.0 < Margin <= 5.0 31 2,934,675.29 7.74
5.0 < Margin <= 6.0 112 10,509,462.73 27.73
6.0 < Margin <= 7.0 135 12,570,429.09 33.17
7.0 < Margin <= 8.0 116 9,573,115.23 25.26
8.0 < Margin <= 9.0 24 2,115,559.44 5.58
9.0 < Margin <= 10.0 1 68,160.00 0.18
10.0 < Margin <= 11.0 2 124,709.34 0.33
- --------------------- ------- ----------------- ---------------
Total................ 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
<PAGE>
First Alliance Mortgage Loan Trust 1997-3 GROUP II COLLATERAL
- --------------------------------------------------------------------------------
LOAN SUMMARY STRATIFIED BY PERIODIC CAP
Percentage of
Aggregate Cut-Off Date
Number of Unpaid Aggregate
Periodic Mortgage Principal Principal
Cap Loans Balance Balance
1.000 405 35,876,597.05 94.67
1.500 15 1,986,526.91 5.24
2.000 1 32,987.16 0.09
- --------------------- --------- -------------------- ---------------
Total................ 421 $37,896,111.12 100.00%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared and
delivered by Lehman Brothers Inc. and the contents and accuracy thereof have not
been reviewed by the issuer. This information was prepared on the basis of
certain assumptions (including, in certain cases, assumptions specified by the
recipient hereof) regarding payments, interest rates, weighted average lives,
weighted average loan age, losses and other matters, including, but not limited
to, the assumptions described in the Offering Document. Lehman Brothers Inc.,
and any of its affiliates, make no representation or warranty as to the actual
rate or timing of payments on any of the underlying assets or the payments or
yield on the securities. This information supersedes any prior versions hereof
and will be deemed to be superseded by any subsequent versions (including, with
respect to any description of the securities or underlying assets, the
information contained in the Offering Document).
