===============================================================================
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)
---------------------------------------------------
March 10, 1998
First Alliance Mortgage Company
-----------------------------------------------------
(Exact name of registrant as specified in its charter)
California 333-44585 95-2944875
- ---------------------------- ---------------- --------------------
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
17305 Von Karman Avenue
Irvine, California 92614-6203
- ---------------------------------------- ---------------
(Address of Principal Executive Offices) (Zip Code)
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 Notes, Series 1998-1F, described in a Prospectus
Supplement dated as of March 10, 1998, certain AComputational 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 First Union
Capital Markets Corp. 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/ Mark K. Mason
------------------------------
Name: Mark K. Mason
Title: Executive Vice President and
Chief Financial Officer
Dated: March 10, 1998
Exhibit 99.1
First Alliance Mortgage Loan Trust 1998-1F
$55,400,000 Fixed Rate Notes
Preliminary Marketing Materials
The attached Marketing Memorandum (the AMarketing Memorandum@) is
privileged and confidential and is intended for use by the addressee only. This
Marketing Memorandum is furnished to you solely by First Union Capital Markets
(the AUnderwriter@) and not by the issuer of the notes identified above (the
ANotes@) or any other party. The Marketing Memorandum is based upon information
made available to the Underwriter. Neither the Underwriter, the issuer of the
Offered Notes, nor any other party makes any representation to the accuracy or
completeness of the information therein. The information herein is preliminary,
and will be superseded by the applicable prospectus supplement and by any other
information subsequently filed with the Securities and Exchange Commission. The
information herein may not be provided to any third party other than the
addressee's legal, tax, financial and/or accounting advisors for the purpose of
evaluating such information.
No assurance can be given as to the accuracy, appropriateness or
completeness of the Marketing Memorandum in any particular context; or as to
whether the Marketing Memorandum reflects future performance. This Marketing
Memorandum should not be construed as either a prediction or as legal, tax, and
financial or accounting advice.
Any yields or weighted average lives shown in the Marketing Memorandum are
based on prepayment and other assumptions and actual experience may dramatically
affect such yields or weighted average lives. The principal amount and
designation of any security described in the term sheet are subject to change
prior to issuance.
Although a registration statement (including the prospectus) relating to
the Offered Notes has been filed with the Securities and Exchange Commission and
is effective, the final prospectus supplement relating to the Offered Notes has
not been filed with the Securities and Exchange Commission. This communication
shall not constitute an offer to sell or a solicitation of an offer to buy nor
shall there be any sale of the Offered Notes in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state. Prospective purchasers are referred
to the final prospectus and prospectus supplement relating to the Offered Notes
for definitive terms of the Offered Notes and the collateral.
Please be advised that Offered Notes may not be appropriate for all
investors. Potential investors must be willing to assume, among other things,
market price volatility, prepayments, yield curve and interest rate risks.
Investors should fully consider the risk of an investment in these Offered
Notes.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
<TABLE>
<S> <C>
Title of Securities: Fixed Rate Mortgage Loan Asset Backed Notes,
Series 1998-1F
Note Issuer: First Alliance Mortgage Loan Trust 1998-1F
Seller: First Alliance Mortgage Company
Servicer: First Alliance Mortgage Company
<S> <C> <C>
Securities Offered: Amount: 55,400,000
Collateral: Fixed Rate Mortgage Loans
Cut-off Date: 03/01/98
Prepayment
Assumption: 27% HEP
Coupon: TBD
Approximate Price: Par
(to 10% Call)
Spread: TBD
Avg. Life (at 27% HEP): 3.156
(to maturity)
Avg. Life (at 27% HEP): 2.918
(to 10% Call)
Interest rate basis: 30/360
Expected maturity: 12/20/13
(to maturity)
Expected maturity: 06/20/05
(to 10% Call)
Stated Maturity: 06/20/29
Dated Date: 03/01/98
Payment Delay: 19 days
Pricing Date: TBD
Settlement Date: On or about March 27, 1998.
First Payment Date: 04/20/98
Rating (S&P/Moody's): AAA/Aaa
<S> <C>
Description of
the Notes: The Notes represent non-recourse obligations
of the Issuer and are secured by the
assets of the Trust, which will include (i)
mortgage loans, (ii) all payments of principal and
interest thereon other than prior to the Cut-off Date,
(iii) security interests in the mortgaged properties,
(iv) the Issuer's rights under the Sale and Servicing
Agreement, (v) the Note Insurance Policy and (vi)
certain other property.
</TABLE>
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
<TABLE>
<S> <C>
Indenture Trustee: The Chase Manhattan Bank
Owner Trustee: Wilmington Trust Company
Note Insurer: MBIA Insurance Corporation ("MBIA"). The
claims-paying ability of MBIA is rated "AAA"
by Standard & Poor's and "Aaa" by Moody's.
Note Insurance
Policy: The insurance policy of MBIA guarantees the timely
payment of interest and the ultimate payment of
principal on the Notes.
Credit Enhancement: 1. Monthly Excess Spread
2. Overcollateralization
3. Insurance policy
Servicing Fee: 50 bps per annum
Trustee Fee: [2] bps
Form of Notes: Book-Entry Form, delivered through the facilities
of DTC, Cedel, and Euroclear against payment in
immediately available funds.
Payment Date: The 20th day of each month or, if such day is not
a business day, the next succeeding business day,
beginning April 20, 1998.
Overcollateralization: The credit enhancement provisions are intended to
provide for the limited acceleration of the Notes
relative to the amortization of the related collateral.
Accelerated amortization is achieved by applying
excess cash collected on the collateral to the payment
of principal of the Notes, resulting in the build up of
overcollateralization (O/C). By paying down the
principal balance of the Notes faster than the
principal amortization of the respective collateral
pool, an O/C amount equal to the excess of the
aggregate principal balance of the collateral pool
over the principal balance of the Notes is created.
Excess cash will be directed to build the O/C amount
until the pool reaches its required O/C target.
Upon this event the acceleration feature will cease,
unless it is once again necessary to maintain the
required O/C level.
Optional Redemption: The Notes may be redeemed, in full but not in part, at
the option of the Majority Residual holder on or after
the first Payment Date on which the Aggregate Principal
Balance of the Mortgage Loans in the Mortgage Pool has
declined to 10% or less of the Original Pool Balance.
In addition, the Note Insurer will have rights, under
limited circumstances, to effect a redemption of the
Notes and terminate the Indenture.
Coupon Step-up: If the 10% Clean-up Call (Optional Redemption) is not
exercised, the coupon on the Notes will step up by
[50] basis points.
Interest Accrual: Interest on the Notes will be calculated on the basis
of a 360-day year consisting of twelve 30-day months.
Interest will accrue during the calendar month
immediately preceding the month on which the Payment
Date occurs.
Note Interest: An amount equal to interest accrued during the related
interest period at the Note Interest Rate on the
Note Principal Balance as of the preceding
Payment Date.
</TABLE>
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
<TABLE>
<S> <C>
Monthly Principal: The Note holders will receive monthly payments of
principal on each payment date which generally will
reflect collections of principal during the prior
calendar month.
The principal payment amount with respect to each
Payment Date shall be the lesser of:
(a) The Total Available Funds plus any Insured
Payments minus the Current Interest; and
(b) (i) the sum, without any duplication of:
(a) the Carry-Forward Amount;
(b) the principal portion of all scheduled monthly
payments on the Mortgage Loans due during the
related Due Period (whether received or
advanced) and the principal portion of all
full and partial principal prepayments made
by the respective Mortgagors during the
related Remittance Period;
(c) the scheduled principal balance of each
Mortgage Loan repurchased on the related
Remittance Date;
(d) any Substitution Amounts delivered in
connection with a substitution of a Mortgage
Loan (to the extent such Substitution Amounts
relate to principal);
(e) all Net Liquidation Proceeds collected by the
Servicer with respect to the Mortgage Loans
during the related Remittance Period (to the
extent such Net Liquidation Proceeds relate
to principal);
(f) the amount of any Subordination Deficit for
such Payment Date;
(g) the proceeds of any termination of the Trust
Estate (to the extent such proceeds relate
to principal);
(h) any moneys released from the Pre-Funding
Account as a prepayment of the Notes on the
Payment Date which immediately follows the
end of Funding Period; and
(i) the amount of any Subordination Increase Amount
for such Payment Date consisting of the
amount of any Net Monthly Excess Cash Flow to
be actually applied for the accelerated
payment of principal on the Notes;
minus
(ii) the amount of any Subordination Reduction Amount
for such Payment Date consisting of the amount of
any Net Monthly Excess Cash Flow to be actually
paid to the Owners of the Residual Interests.
Carry-Forward Amount: The sum of (a) the amount by
which the Monthly Payment Amount as of the immediately
preceding Payment Date exceeded the amount of the
actual payment made to the Note holders on such Payment
Date plus (b) 30 days' interest on the interest portion
of such amount, calculated at the Note Rate.
</TABLE>
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
<TABLE>
<S> <C>
Subordination Deficit: The amount, if any, by which (a)
the Note Principal Balance, after taking into account
all payments to be made on such Payment Date, exceeds
(b) the sum of (i) the aggregate principal balances of
the Mortgage Loans as of the close of business on the
Due Date in the calendar month in which such Payment
Date occurs and (ii) the amount, if any, on deposit in
the Pre-Funding Account as of the close of business on
the Due Date in the calendar month in which such
Payment Date occurs.
Pre-Funding Account: The initial mortgage pool as of the closing date will
have aggregate principal balance of approximately $42.5
million as of the March 1, 1998 cut-off date. Additional
mortgage loans with characteristics similar to those of
the initial mortgage pool are expected to be transferred
to the Trust no later than March 31, 1998, in exchange
for release of funds from the Pre-Funding Account.
Capitalized Interest: On the closing date, cash in an amount satisfactory to
the Note Insurer will be deposited into a trust account
for the benefit of the Note holders to ensure payments of
interest on the Pre-funded amount during the Funding
Period.
ERISA Considerations: The Notes may be purchased by employee benefit plans that
are subject to the Employee Retirement Income Security
Act of 1974, as amended. Investors should consult their
counsel with respect to limitations on acquisition and
ownership of the Notes and consequences thereof.
SMMEA: The Notes will NOT constitute "mortgage related
securities" for purposed of the Secondary Mortgage Market
Enhancement Act of 1984 ("SMMEA").
Taxation: The Notes will be treated as debt obligations for tax
purposes. No REMIC election will be made.
</TABLE>
For more information contact Russ Andrews at (704) 374-3472, Wallace Saunders at
(704) 383-4868 or David Duque at (704) 383-5525.
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
<TABLE>
<S> <C>
CURRENT BALANCE: $55,400,000.00 DATED DATE: 03/01/98
COUPON: TED FIRST PAYMENT: 04/20/98
FACTOR: 1.0000000000 TOTAL CLASSES: 1
ORIGINAL BALANCE: $55,400,000.00
</TABLE>
BOND A1 BE-YIELD TABLE
TO 10% CLEAN-UP CALL
PREPAYMENT SPEED
<TABLE>
<CAPTION>
21% 23% 27% 31% 33% 50%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
98- 0 7.402 7.445 7.534 7.624 7.671 8.107
98- 4 7.360 7.399 7.481 7.565 7.608 8.010
98- 8 7.317 7.353 7.428 7.505 7.545 7.913
98-12 7.275 7.308 7.376 7.446 7.481 7.816
98-16 7.232 7.262 7.323 7.386 7.419 7.720
98-20 7.190 7.217 7.271 7.327 7.356 7.624
98-24 7.148 7.171 7.219 7.268 7.293 7.528
98-28 7.106 7.126 7.167 7.209 7.231 7.432
99- 0 7.064 7.081 7.115 7.150 7.168 7.337
99- 4 7.022 7.036 7.063 7.092 7.106 7.242
99- 8 6.980 6.991 7.011 7.033 7.044 7.147
99-12 6.939 6.946 6.960 6.975 6.982 7.052
99-16 6.897 6.901 6.909 6.916 6.920 6.958
99-20 6.856 6.856 6.857 6.858 6.859 6.863
99-24 6.814 6.812 6.806 6.800 6.797 6.769
99-28 6.773 6.767 6.755 6.742 6.736 6.676
*100- 0 6.732 6.723 6.704 6.685 6.675 6.582
100- 4 6.691 6.679 6.653 6.627 6.614 6.489
100- 8 6.650 6.634 6.603 6.570 6.553 6.396
100-12 6.609 6.590 6.552 6.512 6.492 6.303
100-16 6.568 6.546 6.501 6.455 6.431 6.210
100-20 6.528 6.503 6.451 6.398 6.371 6.117
100-24 6.487 6.459 6.401 6.341 6.311 6.025
100-28 6.447 6.415 6.351 6.284 6.250 5.933
101- 0 6.406 6.372 6.301 6.228 6.190 5.841
101- 4 6.366 6.328 6.251 6.171 6.130 5.750
101- 8 6.326 6.285 6.201 6.115 6.071 5.658
101-12 6.286 6.242 6.151 6.059 6.011 5.567
101-16 6.245 6.198 6.102 6.002 5.951 5.476
101-20 6.206 6.155 6.052 5.946 5.892 5.385
101-24 6.166 6.112 6.003 5.890 5.833 5.294
101-28 6.126 6.069 5.954 5.835 5.774 5.204
AVG LIFE 3.768 3.440 2.918 2.525 2.362 1.473
DURATION 3.026 2.807 2.445 2.158 2.035 1.331
FIRST PAY 4/98 4/98 4/98 4/98 4/98 4/98
LAST PAY 8/07 10/06 6/05 6/04 1/04 9/01
</TABLE>
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
<TABLE>
<S> <C>
CURRENT BALANCE: $55,400,000.00 DATED DATE: 03/01/98
COUPON: TED FIRST PAYMENT: 04/20/98
FACTOR: 1.0000000000 TOTAL CLASSES: 1
ORIGINAL BALANCE: $55,400,000.00
</TABLE>
BOND A1 BE-YIELD TABLE
TO 10% CLEAN-UP CALL
PREPAYMENT SPEED
<TABLE>
<CAPTION>
21% 23% 27% 31% 33% 50%
PRICE HEP HEP HEP HEP HEP HEP
<S> <C> <C> <C> <C> <C> <C>
98- 0 7.401 7.442 7.526 7.612 7.656 8.064
98- 4 7.360 7.398 7.475 7.555 7.595 7.972
98- 8 7.319 7.354 7.425 7.498 7.535 7.881
98-12 7.278 7.310 7.375 7.442 7.475 7.790
98-16 7.238 7.266 7.325 7.385 7.416 7.699
98-20 7.197 7.223 7.275 7.329 7.356 7.609
98-24 7.157 7.179 7.226 7.273 7.297 7.519
98-28 7.116 7.136 7.176 7.217 7.237 7.429
99- 0 7.076 7.093 7.127 7.161 7.178 7.339
99- 4 7.036 7.050 7.077 7.105 7.119 7.249
99- 8 6.996 7.007 7.028 7.050 7.061 7.160
99-12 6.956 6.964 6.979 6.994 7.002 7.071
99-16 6.916 6.921 6.930 6.939 6.943 6.982
99-20 6.877 6.878 6.882 6.884 6.885 6.893
99-24 6.837 6.836 6.833 6.829 6.827 6.805
99-28 6.797 6.793 6.784 6.774 6.769 6.716
*100- 0 6.758 6.751 6.736 6.719 6.711 6.628
100- 4 6.719 6.709 6.688 6.665 6.653 6.541
100- 8 6.680 6.667 6.639 6.610 6.595 6.453
100-12 6.640 6.625 6.591 6.556 6.538 6.366
100-16 6.601 6.583 6.544 6.502 6.480 6.279
100-20 6.562 6.541 6.496 6.448 6.423 6.192
100-24 6.524 6.499 6.448 6.394 6.366 6.105
100-28 6.485 6.457 6.400 6.340 6.309 6.019
101- 0 6.446 6.416 6.353 6.287 6.252 5.932
101- 4 6.408 6.375 6.306 6.233 6.196 5.846
101- 8 6.369 6.333 6.258 6.180 6.139 5.761
101-12 6.331 6.292 6.211 6.127 6.083 5.675
101-16 6.293 6.251 6.164 6.074 6.027 5.590
101-20 6.255 6.210 6.117 6.021 5.971 5.505
101-24 6.217 6.169 6.071 5.968 5.915 5.420
101-28 6.179 6.128 6.024 5.915 5.859 5.335
AVG LIFE 4.064 3.714 3.156 2.729 2.552 1.589
DURATION 3.160 2.940 2.572 2.277 2.150 1.415
FIRST PAY 4/98 4/98 4/98 4/98 4/98 4/98
LAST PAY 4/18 9/16 12/13 12/11 1/11 12/05
</TABLE>
- ------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
Initial Collateral Rep Lines
<TABLE>
<CAPTION>
Type Pool Num Balance Aterm Oterm WAM WAC LTV CLTV Count
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
FXD less 180 1 82,962.58 120.0000 120.0000 118.4156 11.7245 30.4316 21.8519 3
FXD 180 2 2,470,451.71 180.0000 180.0000 177.4041 10.1461 37.8180 39.6859 47
Ball 3 2,101,894.70 360.0000 180.0921 177.1383 11.1172 45.1140 48.2206 36
FXD 240 4 4,035,437.11 190.2090 191.5497 189.5446 9.8889 49.8683 50.7612 67
FXD less 360 5 33,799,353.75 329.2315 360.4825 356.3088 9.7814 57.2622 57.2622 409
- --------------------------------------------------------------------------------------------------------------------
42,490,099.85 562
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
Total Collateral Rep Lines (including prefunded loans)
<TABLE>
<CAPTION>
Type Pool Num Balance Aterm Oterm WAM WAC LTV CLTV Count
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
FXD less 180 1 82,962.58 120.0000 120.0000 118.4156 11.7245 30.4316 21.8519 3
FXD 180 2 2,470,451.71 180.0000 180.0000 177.4041 10.1461 37.8180 39.6859 47
Ball 3 2,101,894.70 360.0000 180.0921 177.1383 11.1172 45.1140 48.2206 36
FXD 240 4 4,035,437.11 190.2090 191.5497 189.5446 9.8889 49.8683 50.7612 67
FXD less 360 5 33,799,353.75 329.2315 360.4825 356.3088 9.7814 57.2622 57.2622 409
FXD 360 6 9,599,687.40 360.0000 360.0000 360.0000 9.7000 58.0000 58.0000 116
FXD less 360 7 3,310,212.75 360.0000 360.0000 356.0000 10.0000 49.0000 49.0000 50
- --------------------------------------------------------------------------------------------------------------------
55,400,000.00 728
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
- -------------------------------------------------------------------------------
- First Alliance
- Cut Off Date of Tape is 03/01/98
- FIXED RATE COLLATERAL
- $42,490,099.85
- Home Equity Loans Summary Report
- -------------------------------------------------------------------------------
<TABLE>
<S> <C>
Number of Mortgage Loans: 562
Aggregate Unpaid Principal Balance: $42,490,099.85
Average Unpaid Principal Balance: $75,605.15
Maximum Unpaid Principal Balance: $276,240.00
Minimum Unpaid Principal Balance: $10,979.88
Weighted Average Gross Coupon: 9.883%
Gross Coupon Range: 7.990% - 15.500%
Weighted Avg. Stated Rem. Term (LPD to Mat/Bln Date): 320.741
Stated Rem. Term Range: 118.000 - 360.000
Weighted Average Original Term: 324.552
Original Term Range: 120.000 - 363.000
Weighted Average LTV: 54.776%
LTV Range: 6.040 - 80.000%
Weighted Average Combined LTV: 55.126%
Combined LTV Range: 6.040 - 80.000%
Weighted Average Junior Lien Ratio 99.290%
Percentage of First Mortgages 98.411%
Percentage of Second Mortgages 1.589%
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER.IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR
IMMEDIATELY.
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Aggregate Percentage
Original Number of Unpaid of Aggregate
CLTV Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
5.01 - 10.00 3 66,982.66 0.16
10.01 - 15.00 6 124,598.12 0.29
15.01 - 20.00 13 380,922.41 0.90
20.01 - 25.00 27 1,061,470.71 2.50
25.01 - 30.00 20 865,986.72 2.04
30.01 - 35.00 40 2,119,164.66 4.99
35.01 - 40.00 37 2,258,448.59 5.32
40.01 - 45.00 50 3,293,969.87 7.75
45.01 - 50.00 72 4,843,904.29 11.40
50.01 - 55.00 68 4,989,227.70 11.74
55.01 - 60.00 70 5,785,925.62 13.62
60.01 - 65.00 52 4,973,479.25 11.71
65.01 - 70.00 48 5,363,530.73 12.62
70.01 - 75.00 42 4,975,870.38 11.71
75.01 - 80.00 14 1,386,618.14 3.26
- ------------------------------------------------------------------------------
Total 562 42,490,099.85 100.00%
==============================================================================
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL
ADVISOR IMMEDIATELY.
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Aggregate Percentage
Original Number of Unpaid of Aggregate
CLTV Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
5.01 - 10.00 5 103,849.45 0.2
10.01 - 15.00 11 233,276.63 0.55
15.01 - 20.00 14 430,499.18 0.01
20.01 - 25.00 28 1,089,378.95 2.56
25.01 - 30.00 24 1,108,114.66 2.61
30.01 - 35.00 41 2,177,480.09 5.12
35.01 - 40.00 36 2,208,959.73 5.20
40.01 - 45.00 48 3,224,280.46 7.59
45.01 - 50.00 70 4,720,865.86 11.11
50.01 - 55.00 66 4,926,365.73 11.59
55.01 - 60.00 65 5,637,013.69 13.27
60.01 - 65.00 50 4,903,996.17 11.54
65.01 - 70.00 48 5,363,530.73 12.62
70.01 - 75.00 42 4,975,870.38 11.71
75.01 - 80.00 14 1,386,618.14 3.26
- -------------------------------------------------------------------------------
Total 562 42,490,099.85 100.00%
==============================================================================
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL
ADVISOR IMMEDIATELY.
- -------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
ORIGINAL JUNIOR LEIN RATIOS
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Junior Lien Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
10.01 - 20.00 1 13,887.26 0.03
20.01 - 30.00 5 116,873.36 0.28
30.01 - 40.00 2 74,269.69 0.17
40.01 - 50.00 1 18,000.00 0.04
50.01 - 60.00 4 226,004.01 0.53
60.01 - 70.00 1 22,979.53 0.05
70.01 - 80.00 1 49,488.86 0.12
80.01 - 90.00 4 153,796.75 0.36
90.01 -100.00 543 41,814,800.39 98.41
- -------------------------------------------------------------------------------
562 42,490,099.85 100.00%
===============================================================================
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL
ADVISOR IMMEDIATELY.
- ------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Gross Mortgage Mortgage Principal Principal
Interest Rate Loans Balance Balance
<S> <C> <C> <C>
7.51 - 8.00 5 414,247.73 0.97
8.01 - 8.50 33 2,632,044.85 6.19
8.51 - 9.00 94 8,302,995.58 19.54
9.01 - 9.10 107 8,681,063.21 20.43
9.51 - 10.00 142 10,892,466.42 25.54
10.01 - 10.50 49 3,152,033.60 7.42
10.51 - 11.00 66 4,482,120.84 10.55
11.01 - 11.50 10 548,762.63 1.29
11.51 - 12.00 16 945,457.60 2.33
12.01 - 12.50 8 487,132.90 1.15
12.51 - 13.00 15 846,895.47 1.99
13.01 - 13.50 5 243,141.21 0.57
13.51 - 14.00 7 496,002.44 1.17
14.01 - 14.50 2 149,926.13 0.35
14.51 - 15.00 2 160,830.73 0.38
15.01 - 15.50 1 54,978.51 0.13
- -------------------------------------------------------------------------------
562 42,490,099.85 100.00%
===============================================================================
</TABLE>
STATUS OF MORTGAGE LOANS
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Occupancy Mortgage Principal Principal
Status Loans Balance Balance
<S> <C> <C> <C>
Owner Occupied 546 41,546,270.13 97.78
Investment/
Non-Owner Occupied 16 943,829.72 2.22
- ------------------------------------------------------------------------------
Total 562 42,490,099.85 100.00%
==============================================================================
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL
ADVISOR IMMEDIATELY.
- ------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Mortgage Principal Principal
State Loans Balance Balance
<S> <C> <C> <C>
Arizona 4 227,552.99 0.54
California 137 12,040,227.88 28.34
Colorado 14 804,329.90 1.89
Connecticut 1 44,891.04 0.11
District of Columbia 3 113,363.00 0.27
Florida 44 2,753,130.38 6.48
Georgia 11 764,648.07 1.80
Idaho 1 82,032.44 0.19
Illinois 53 3,657,397.00 8.61
Maryland 22 1,552,775.06 3.65
Massachusetts 7 506,679.65 1.19
Minnesota 7 470,076.70 1.11
New Jersey 54 4,305,634.24 10.13
New York 125 8,492,924.56 19.99
Ohio 7 515,228.25 1.21
Oregon 18 1,365,500.46 3.21
Pennsylvania 20 1,876,177.58 4.42
Utah 7 645,540.69 1.52
Virginia 6 474,055.99 1.12
Washington 21 1,797,933.97 4.23
- --------------------------------------------------------------------------------
562 42,490,099.85 100.00%
================================================================================
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS,
AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL
ADVISOR IMMEDIATELY.
- ------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
PRINCIPAL BALANCES
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Principal Mortgage Principal Principal
Balance Loans Balance Balance
<S> <C> <C> <C>
10,000.01 - 15,000.00 6 69,414.85 0.16
15,000.01 - 20,000.00 9 177,296.08 0.42
20,000.01 - 25,000.00 15 338,295.69 0.80
25,000.01 - 30,000.00 20 563,989.26 1.33
30,000.01 - 35,000.00 23 770,118.15 1.81
35,000.01 - 40,000.00 23 866,483.82 2.04
40,000.01 - 45,000.00 30 1,293,051.10 3.04
45,000.01 - 50,000.00 34 1,646,132.10 3.87
50,000.01 - 55,000.00 33 1,750,118.44 4.12
55,000.01 - 60,000.00 26 1,520,417.35 3.58
60,000.01 - 65,000.00 31 1,949,846.57 4.59
65,000.01 - 70,000.00 31 2,111,788.82 4.97
70,000.01 - 75,000.00 34 2,478,256.40 5.83
75,000.01 - 80,000.00 35 2,730,114.06 6.43
80,000.01 - 85,000.00 30 2,476,013.45 5.83
85,000.01 - 90,000.00 26 2,287,765.78 5.38
90,000.01 - 95,000.00 15 1,390,611.85 3.27
95,000.01 - 100,000.00 15 2,239,965.14 5.27
100,000.01 - 125,000.00 70 7,892,895.64 18.58
125,000.01 - 150,000.00 20 2,734,699.93 6.44
150,000.01 - 200,000.00 25 4,249,465.37 10.00
200,000.01 - 250,000.00 2 423,654.00 1.00
250,000.01 - 300,000.00 2 529,706.00 1.25
- --------------------------------------------------------------------------
Total 562 42,490,099.85 100.00%
- --------------------------------------------------------------------------
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR
IMMEDIATELY.
- ------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
<PAGE>
First Alliance Mortgage Loan Trust 1998-1F
Preliminary Marketing Memo
REMAINING TERMS TO STATED MATURITY
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Remaining Mortgage Principal Principal
Term Loans Balance Balance
<S> <C> <C> <C>
109 - 120 3 82,962.58 0.20
169 - 180 139 7,921,151.88 18.64
229 - 240 13 903,099.64 2.13
301 - 312 5 706,495.07 1.66
313 - 324 6 485,684.87 1.14
325 - 336 1 97,061.55 0.23
337 - 348 12 1,163,440.78 2.74
349 - 360 383 31,130,203.48 73.26
- ---------------------------------------------------------------
Total 562 42,490,099.85 100.00%
===============================================================
</TABLE>
PROPERTY TYPES
<TABLE>
<CAPTION>
T
Aggregate Percentage
Number of Unpaid of Aggregate
Property Mortgage Principal Principal
Type Loans Balance Balance
<S> <C> <C> <C>
Single Family 484 36,910,780.52 86.87
2 - 4 Family 68 4,729,718.12 11.13
CONDO 4 307,938.74 0.72
PUD 6 541,662.47 1.27
- ------------------------------------------------------------------
Total 562 42,490,099.85 100.00%
==================================================================
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A
DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR
IMMEDIATELY.
- ------------------------------------------------------------------------------
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A
SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN.
INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY,
DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH
ANY DECISION TO PURCHASE 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 THE UNDERLYING
ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING
PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE
SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED
PROSPECTUS.
