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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)
June 8, 1998
First Alliance Mortgage Company
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(Exact name of registrant as specified in its charter)
California 333-44585 95-2944875
- -------------------------------- ----------------- -------------------
(State or Other Jurisdiction of (Commission File (I.R.S. Employer
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
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(Former name or former address, if changed since last report)
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<PAGE>
Item 5. Other Events.
In connection with the offering of First Alliance Mortgage Loan Trust
1998-2, Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A and
Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F, described in a
Prospectus Supplement dated as of June 12, 1998, 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 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/ Brian Chisick
-----------------------
Name: Brian Chisick
Title: Chief Executive Officer
Dated: June 10, 1998
Exhibit 99.1
Preliminary Marketing Materials
First Alliance Mortgage Loan Trust 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
The attached Marketing Memorandum (the "Marketing 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
"Underwriter") and not by the issuer of the notes identified above (the "Notes")
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.
[FIRST UNION LOGO]
FIRST UNION CAPITAL MARKETS
<PAGE>
First Alliance Mortgage Loan Trust 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
SUMMARY OF TERMS
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
(the "Adjustable Rate Notes")
Issuer: First Alliance Mortgage Loan Trust 1998-2 (the "Trust")
Seller: First Alliance Mortgage Company
Servicer: First Alliance Mortgage Company
Manager: First Union Capital Markets
<TABLE>
<S> <C> <C>
Securities Offered: 1998-2A
Amount: $30,000,000
Collateral: Adjustable-rate Home Equity Loans
Cut-off Date: 06/01/98
Prepayment Assumption/1: 30% CPR/1
Expected Coupon: TBD
Spread: TBD
To Maturity:
Average Life 2.652
Expected Maturity 11/20/2012
To 10% Call:
Average Life 2.438
Expected Maturity 11/20/2004
Stated Maturity: 09/20/2029
Payment Frequency: Monthly
First Payment Date: 07/20/98
Interest rate basis: Actual/360
Dated Date: 06/26/98
Payment Delay: None
Pricing Date (expected): 06/10/98
Settlement Date(expected): 06/26/98
Rating (S&P/Moody's): AAA/Aaa
</TABLE>
1/ CPR represents an assumed constant rate of prepayment each month, expressed
as an annual rate, relative to the then outstanding principal balance on a pool
of new mortgage loans for the life of such Mortgage Loans.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
Description of the Notes: The Adjustable Rate Notes represent non-recourse
obligations of the Issuer and are secured by the
assets of the Trust, which will include (i) two pools
of mortgage loans, one consisting of the Adjustable
Rate Mortgage Loans (the "Adjustable Rate Pool") and
the other consisting of the Fixed Rate Mortgage Loans
(the "Fixed Rate Pool") (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 Policies and (vi) certain other property.
The Adjustable Rate Pool will be the sole source of
payments on the Adjustable Rate Notes. The Adjustable
Rate Notes will be issued in a single class.
Indenture Trustee: The Chase Manhattan Bank
Owner Trustee: Wilmington Trust Company
Note Insurer: Financial Surety Assurance, Inc. ("FSA"). The
claims-paying ability of FSA is rated "AAA" by
Standard & Poor's and "Aaa" by Moody's.
Note Insurance
Policies: The insurance policies of FSA guarantee the timely
payment of interest and the ultimate payment of
principal on the Adjustable Rate Notes.
Credit Enhancement: 1. Monthly Excess Spread
2. Overcollateralization
3. Insurance policy
Servicing Fee: 50 bps per annum
Trustee Fee: [1] bps
Form of Notes: Book-Entry Form, delivered through the facilities of
DTC, Cedel, and Euroclear against payment in
immediately available funds.
Overcollateralization: The credit enhancement provisions are intended to
provide for the limited acceleration of the
Adjustable Rate 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
Adjustable Rate Notes, resulting in the build up of
overcollateralization (O/C) in an amount equal to the
excess of the aggregate principal balance of the
Adjustable Rate Mortgage Pool over the principal
balance of the Adjustable Rate Notes. 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 Adjustable Rate Notes may be redeemed, in full
but not in part, at the option of the Servicer on or
after the first Payment Date on which the Aggregate
Principal Balance of the Mortgage Loans in the
Adjustable Rate Mortgage Pool has declined to 10% or
less of its Original Pool Balance. In addition, the
Note Insurer will have rights, under limited
circumstances, to effect a redemption of the
Adjustable Rate Notes and terminate the Indenture.
Adjustable Rate
Note Interest: Subject to the available funds cap, the Adjustable
Rate Note Rate will be equal to one-month LIBOR as of
the second to last business day prior to the
immediately preceding Payment Date (or in the case of
the first Payment Date, two days prior to the closing
date) plus [_]% per annum.
Interest on the Adjustable Rate Notes will accrue
during the period from the preceding Payment Date (or
from the Closing Date in the case of the first
Payment Date) to and including the day prior to the
current Payment Date. Calculations of interest on the
Adjustable Rate Notes will be made on the basis of
the actual number of days elapsed in the related
Accrual Period and a year of 360 days.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
Available Funds Cap: The Available Funds Cap is defined to be the weighted
average of the Mortgage Rates on the Adjustable Rate
Mortgage Loans, less the sum of (a) the Servicing
Fee, (b) beginning on the third Payment Date
following the Closing Date, the premiums due to the
Note Insurer with respect to the Adjustable Rate Note
Insurance Policy, (c) the portion of the fees due to
the Indenture Trustee and the Owner Trustee relating
to the Adjustable Rate Notes, and (d) beginning on
the seventh Payment Date following the Closing Date,
0.50%, expressed as a percentage of the Adjustable
Rate Mortgage Loans, calculated as of the first day
of the related Remittance Period.
Available Funds Cap
Carry-Forward: If, on any Payment Date, the Available Funds Cap
limits the Adjustable Rate Note Rate, the amount of
any such shortfall will be carried forward and will
be payable on future Payment and shall accrue
interest at the Adjustable Rate Formula Note Rate,
until paid.
The payment of such amount will be funded only to the
extent available from (i) excess interest from the
Adjustable Rate Mortgage Loan Pool, (ii) any Net
Monthly Excess Cashflow which would otherwise be paid
to the Servicer on account of certain reimbursable
amounts and (iii) any funds paid to effect the early
retirement of the Adjustable Rate Notes on any
Remittance Date after the Adjustable Rate Clean-Up
Call Date. The Adjustable Rate Note Insurance Policy
does not cover the Available Funds Cap Carry-Forward
Amount.
Adjustable Rate
Coupon Step-up: After the Adjustable Rate Clean-up Call Date, LIBOR
plus 2x[_]% per annum, subject to the Available Funds
Cap.
Monthly Principal: The Adjustable Rate 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 fees and
expenses; and
(b) (i) the sum, without any duplication of:
(a) the Principal 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 during the related
Remittance Period;
(c) the scheduled principal balance of each
Mortgage Loan repurchased on the related
Remittance Date;
(d) the principal portion of any Substitution
Amounts;
(e) the principal portion of all Net
Liquidation Proceeds during the related
Remittance Period
(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; and
(i) the amount of any Subordination Increase
Amount for such Payment Date;
minus
(ii) the amount of any Subordination Reduction
Amount for such Payment Date.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
Principal Carry-Forward Amount: The sum of (a) the
amount by which the Monthly Principal Payment Amount
as of the immediately preceding Payment Date exceeded
the amount of the actual principal payment made to
the Adjustable Rate Notes holders on such Payment
Date plus (b) 30 days' interest on the interest
portion of such amount, calculated at the Adjustable
Rate Note Rate.
Subordination Deficit: The amount, if any, by which
(a) the Adjustable Rate 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.
Delinquency Advances: The Servicer will be obligated to make advances with
respect to delinquent payments of interest (at the
related Mortgage Rate less the Servicing Fee, as
defined below) and scheduled principal due on each
Mortgage Loan to the extent that such Delinquency
Advances, in good faith and in the Servicer's
reasonable judgment, are reasonably recoverable from
the related Mortgage Loan.
Compensating Interest: With respect to any loan which prepays in full, the
Servicer will be remit out of its own funds without
any right of reimbursement therefor, an amount equal
to the difference between (x) 30 days' interest at
such Mortgage Loan's Mortgage Rate (less the
Servicing Fee) on the principal balance of such
Mortgage Loan as of the first day of the related
Remittance Period and (y) to the extent not
previously advanced, the interest (less the Servicing
Fee) actually paid by the Mortgagor with respect to
such Mortgage Loan during such Remittance Period.
Compensating Interest with respect to any Remittance
Period will be capped at the aggregate Servicing Fee
received by the Servicer for such Remittance Period.
Pre-Funding Accounts: On the Closing Date, the Pre-Funded Amount, which
will be funded from the sale of the Adjustable Rate
Notes, will be deposited into the Pre-Funding
Account, which will be in the name of, and maintained
by, the Indenture Trustee in trust for the benefit of
the holders of the Adjustable Rate Notes, and may be
used to acquire subsequent mortgage loans. As of the
Cut-off Date, the Prefunded Amount for the Adjustable
Rate Notes will be $3,417,634.90.
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 holders of the
Adjustable Rate Notes to ensure payments of interest
on the Pre-funded amount during the Funding Period.
Mandatory Prepayment
of Notes: In the event that by June 30, 1998, not all funds in
either Pre-Funding Account have been used to acquire
Subsequent Mortgage Loans for inclusion in the
Adjustable Rate Mortgage Loan Pool, the Owners of the
Adjustable Rate Notes will receive a prepayment on
the Payment Date in July 1998 in an amount equal to
the Pre-Funded Amount, less any Pre-Funding Account
Earnings remaining at the end of the Funding Period.
ERISA Considerations: The Adjustable Rate 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 Adjustable Rate Notes will not constitute
"mortgage related securities" for purposed of the
Secondary Mortgage Market Enhancement Act of 1984
("SMMEA").
Taxation: The Adjustable Rate Notes will be treated as debt
obligations for tax purposes. No REMIC election will
be made.
Contact: Russ Andrews (704) 374-3472
Wallace Saunders (704) 374-4868
Pearl Bassard (704) 383-7591
David Duque (704) 383-5525
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
ADJUSTABLE RATE POOL
POOL SUMMARY
<TABLE>
<S> <C>
Number of Mortgage Loans: 276
Aggregate Unpaid Principal Balance: $26,582,365.10
Average Unpaid Principal Balance: $96,312.92
Unpaid Principal Balance Range: $20,466.99 - $417,440.00
Weighted Average Gross Coupon: 8.827%
Gross Coupon Range: 6.490% - 13.000%
Weighted Average Gross Margin: 5.891%
Gross Margin Range: 3.990% - 8.990%
Weighted Average Maximum Rate: 15.738%
Maximum Rate Range: 13.250% - 19.600%
Weighted Average Minimum Rate: 8.827%
Minimum Rate Range: 6.490% - 13.000%
Weighted Avg. Stated Remaining Term (months): 347
Stated Remaining Term Range (months): 120 - 360
Weighted Average Original Term (months): 349
Original Term Range (months): 121 - 362
Weighted Average LTV: 63.32%
LTV Range: 14.02 - 84.99%
% First Lien 100.00%
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
<TABLE>
ADJUSTABLE RATE POOL
UNPAID PRINCIPAL BALANCES
<CAPTION>
Aggregate Percentage
Unpaid Number of Unpaid of Aggregate
Principal Mortgage Principal Principal
Balance Loans Balance Balance
<S> <C> <C> <C>
20,000.01 - 25,000.00 1 20,466.99 0.08
25,000.01 - 30,000.00 3 83,222.86 0.31
30,000.01 - 35,000.00 3 97,258.76 0.37
35,000.01 - 40,000.00 5 191,587.63 0.72
40,000.01 - 45,000.00 8 350,306.51 1.32
45,000.01 - 50,000.00 13 627,410.95 2.36
50,000.01 - 55,000.00 13 684,914.62 2.58
55,000.01 - 60,000.00 15 867,379.09 3.26
60,000.01 - 65,000.00 10 632,811.42 2.38
65,000.01 - 70,000.00 11 748,121.64 2.81
70,000.01 - 75,000.00 16 1,162,177.67 4.37
75,000.01 - 80,000.00 20 1,570,659.85 5.91
80,000.01 - 85,000.00 18 1,485,708.48 5.59
85,000.01 - 90,000.00 10 868,429.52 3.27
90,000.01 - 95,000.00 16 1,485,727.23 5.59
95,000.01 - 100,000.00 16 1,569,811.57 5.91
100,000.01 - 125,000.00 49 5,457,375.27 20.53
125,000.01 - 150,000.00 20 2,709,201.97 10.19
150,000.01 - 200,000.00 17 2,967,745.51 11.16
200,000.01 - 250,000.00 8 1,715,057.82 6.45
250,000.01 - 300,000.00 2 534,959.74 2.01
300,000.01 - 350,000.00 1 334,590.00 1.26
400,000.01 - 450,000.00 1 417,440.00 1.57
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
ADJUSTABLE RATE POOL
ORIGINAL LOAN-TO-VALUE RATIOS
Aggregate Percentage
Original Number of Unpaid of Aggregate
LTV Mortgage Principal Principal
Ratio Loans Balance Balance
10.01 - 15.00 2 70,427.71 0.26
15.01 - 20.00 2 56,991.00 0.21
20.01 - 25.00 2 79,156.00 0.30
25.01 - 30.00 7 337,819.85 1.27
30.01 - 35.00 9 435,339.39 1.64
35.01 - 40.00 11 775,397.91 2.92
40.01 - 45.00 16 1,153,086.73 4.34
45.01 - 50.00 23 1,648,788.00 6.20
50.01 - 55.00 28 2,617,512.02 9.85
55.01 - 60.00 18 1,738,983.60 6.54
60.01 - 65.00 46 4,132,493.44 15.55
65.01 - 70.00 46 5,809,873.40 21.86
70.01 - 75.00 33 3,875,845.74 14.58
75.01 - 80.00 24 2,942,543.97 11.07
80.01 - 85.00 9 908,106.34 3.42
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
ADJUSTABLE RATE POOL
REMAINING TERMS TO STATED MATURITY
Remaining Aggregate Percentage
Term to Number of Unpaid of Aggregate
Stated Mortgage Principal Principal
Maturity Loans Balance Balance
109 - 120 2 136,803.30 0.51
169 - 180 23 1,577,935.85 5.94
229 - 240 1 78,590.00 0.30
349 - 360 250 24,789,035.95 93.25
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
ADJUSTABLE RATE POOL
GROSS MORTGAGE RATES
Current Aggregate Percentage
Gross Number of Unpaid of Aggregate
Mortgage Mortgage Principal Principal
Rate Loans Balance Balance
5.01 - 6.50 1 91,803.30 0.35
6.51 - 7.00 6 537,372.36 2.02
7.01 - 7.50 29 2,839,100.15 10.68
7.51 - 8.00 40 3,933,938.77 14.80
8.01 - 8.50 48 5,339,957.72 20.09
8.51 - 9.00 50 5,174,264.75 19.47
9.01 - 9.50 28 2,545,215.14 9.57
9.51 - 10.00 30 2,458,044.10 9.25
10.01 - 10.50 21 1,919,126.80 7.22
10.51 - 11.00 12 1,036,183.09 3.90
11.01 - 11.50 5 233,289.31 0.88
11.51 - 12.00 2 131,673.00 0.50
12.01 - 12.50 2 170,931.52 0.64
12.51 - 13.00 2 171,465.09 0.65
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
ADJUSTABLE RATE POOL
MARGINS
Aggregate Percentage
Number of Unpaid of Aggregate
Mortgage Principal Principal
Margin Loans Balance Balance
3.01 - 4.00 1 78,312.94 0.29
4.01 - 5.00 39 3,646,174.66 13.72
5.01 - 6.00 153 15,153,444.18 57.01
6.01 - 7.00 62 5,889,402.51 22.16
7.01 - 8.00 19 1,584,096.48 5.96
8.01 - 9.00 2 230,934.33 0.87
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
ADJUSTABLE RATE POOL
MAXIMUM MORTGAGE RATES
Aggregate Percentage
Maximum Number of Unpaid of Aggregate
Mortgage Mortgage Principal Principal
Rate Loans Balance Balance
13.01 - 13.50 2 141,641.54 0.53
13.51 - 14.00 8 713,050.29 2.68
14.01 - 14.50 31 3,085,737.52 11.61
14.51 - 15.00 41 4,079,507.59 15.35
15.01 - 15.50 47 5,144,207.59 19.35
15.51 - 16.00 54 5,333,988.00 20.07
16.01 - 16.50 31 2,936,898.20 11.05
16.51 - 17.00 26 2,146,037.46 8.07
17.01 - 17.50 18 1,517,524.31 5.71
17.51 - 18.00 8 836,352.33 3.15
18.01 - 18.50 5 272,296.18 1.02
18.51 - 19.00 3 239,598.09 0.90
19.01 - 19.50 1 71,986.00 0.27
19.51 - 20.00 1 63,540.00 0.24
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
ADJUSTABLE RATE POOL
MINIMUM MORTGAGE RATES
Aggregate Percentage
Minimum Number of Unpaid of Aggregate
Mortgage Mortgage Principal Principal
Rate Loans Balance Balance
5.01 - 6.50 1 91,803.30 0.35
6.51 - 7.00 6 537,372.36 2.02
7.01 - 7.50 29 2,839,100.15 10.68
7.51 - 8.00 40 3,933,938.77 14.80
8.01 - 8.50 48 5,339,957.72 20.09
8.51 - 9.00 50 5,174,264.75 19.47
9.01 - 9.50 28 2,545,215.14 9.57
9.51 - 10.00 30 2,458,044.10 9.25
10.01 - 10.50 21 1,919,126.80 7.22
10.51 - 11.00 12 1,036,183.09 3.90
11.01 - 11.50 5 233,289.31 0.88
11.51 - 12.00 2 131,673.00 0.50
12.01 - 12.50 2 170,931.52 0.64
12.51 - 13.00 2 171,465.09 0.65
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
ADJUSTABLE RATE POOL
REMAINING MONTHS TO NEXT ADJUSTMENT DATE
Remaining Aggregate Percentage
Months Number of Unpaid of Aggregate
to Next Mortgage Principal Principal
Adjustment Date Loans Balance Balance
2 1 86,843.80 0.33
3 8 960,554.43 3.61
4 18 1,757,775.06 6.61
5 42 4,383,106.94 16.49
6 102 10,066,447.59 37.87
7 69 6,104,004.00 22.96
8 9 1,097,465.00 4.13
21 16 1,318,193.21 4.96
22 9 653,224.96 2.46
33 1 99,807.37 0.38
34 1 54,942.74 0.21
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
ADJUSTABLE RATE POOL
PROPERTY TYPES
Aggregate Percentage
Number of Unpaid of Aggregate
Mortgage Principal Principal
Property Type Loans Balance Balance
Single Family 228 22,040,760.22 82.91
2 - 4 Family 38 3,622,131.36 13.63
Condominium 8 662,727.56 2.49
Planned Unit Development 2 256,745.96 0.97
--- ------------- ------
276 26,582,365.10 100.00
=== ============== ======
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
ADJUSTABLE RATE POOL
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES
Aggregate Percentage
Number of Unpaid of Aggregate
Mortgage Principal Principal
State Loans Balance Balance
Arizona 14 1,181,724.69 4.45
California 42 5,826,163.38 21.92
Colorado 8 737,431.23 2.77
District of Col 5 380,814.61 1.43
Florida 6 460,154.19 1.73
Georgia 2 109,191.00 0.41
Illinois 38 3,430,053.76 12.90
Maryland 8 533,495.15 2.01
Massachusetts 12 977,007.72 3.68
Minnesota 10 784,745.90 2.95
New Jersey 36 3,292,076.91 12.38
New York 27 2,438,839.73 9.17
Ohio 17 1,445,684.24 5.44
Oregon 12 1,395,544.41 5.25
Pennsylvania 6 508,924.29 1.91
Utah 14 1,351,309.35 5.08
Virginia 5 509,147.89 1.92
Washington 14 1,220,056.65 4.59
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
ADJUSTABLE RATE POOL
OCCUPANCY STATUS
Aggregate Percentage
Number of Unpaid of Aggregate
Occupancy Mortgage Principal Principal
Status Loans Balance Balance
Owner Occupied 260 25,039,675.15 94.20
Non-Owner Occupied 16 1,542,689.95 5.80
--- ------------- ------
276 26,582,365.10 100.00
=== ============= ======
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
AVAILABLE FUNDS CAP*
<TABLE>
<CAPTION>
Period Date AFC Period Date AFC Period Date AFC
- ------ ---- --- ------ ---- --- ------ ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 7/20/98 8.293 41 11/20/01 10.495 81 3/20/05 10.495
2 8/20/98 8.293 42 12/20/01 10.495 82 4/20/05 10.495
3 9/20/98 8.143 43 1/20/02 10.495 83 5/20/05 10.495
4 10/20/98 8.143 44 2/20/02 10.495 84 6/20/05 10.495
5 11/20/98 8.143 45 3/20/02 10.495 85 7/20/05 10.495
6 12/20/98 8.264 46 4/20/02 10.495 86 8/20/05 10.495
7 1/20/99 8.530 47 5/20/02 10.495 87 9/20/05 10.495
8 2/20/99 8.612 48 6/20/02 10.495 88 10/20/05 10.495
9 3/20/99 8.612 49 7/20/02 10.495 89 11/20/05 10.495
10 4/20/99 8.612 50 8/20/02 10.495 90 12/20/05 10.495
11 5/20/99 8.612 51 9/20/02 10.495 91 1/20/06 10.495
12 6/20/99 8.733 52 10/20/02 10.495 92 2/20/06 10.495
13 7/20/99 9.499 53 11/20/02 10.495 93 3/20/06 10.495
14 8/20/99 9.582 54 12/20/02 10.495 94 4/20/06 10.495
15 9/20/99 9.582 55 1/20/03 10.495 95 5/20/06 10.495
16 10/20/99 9.582 56 2/20/03 10.495 96 6/20/06 10.495
17 11/20/99 9.582 57 3/20/03 10.495 97 7/20/06 10.495
18 12/20/99 9.656 58 4/20/03 10.495 98 8/20/06 10.495
19 1/20/00 10.310 59 5/20/03 10.495 99 9/20/06 10.495
20 2/20/00 10.378 60 6/20/03 10.495 100 10/20/06 10.495
21 3/20/00 10.378 61 7/20/03 10.495 101 11/20/06 10.495
22 4/20/00 10.482 62 8/20/03 10.495 102 12/20/06 10.495
23 5/20/00 10.482 63 9/20/03 10.495 103 1/20/07 10.495
24 6/20/00 10.482 64 10/20/03 10.495 104 2/20/07 10.495
25 7/20/00 10.482 65 11/20/03 10.495 105 3/20/07 10.495
26 8/20/00 10.482 66 12/20/03 10.495 106 4/20/07 10.495
27 9/20/00 10.482 67 1/20/04 10.495 107 5/20/07 10.495
28 10/20/00 10.482 68 2/20/04 10.495 108 6/20/07 10.495
29 11/20/00 10.482 69 3/20/04 10.495 109 7/20/07 10.495
30 12/20/00 10.482 70 4/20/04 10.495 110 8/20/07 10.495
31 1/20/01 10.482 71 5/20/04 10.495 111 9/20/07 10.495
32 2/20/01 10.482 72 6/20/04 10.495 112 10/20/07 10.495
33 3/20/01 10.482 73 7/20/04 10.495 113 11/20/07 10.495
34 4/20/01 10.490 74 8/20/04 10.495 114 12/20/07 10.495
35 5/20/01 10.495 75 9/20/04 10.495 115 1/20/08 10.495
36 6/20/01 10.495 76 10/20/04 10.495 116 2/20/08 10.495
37 7/20/01 10.495 77 11/20/04 10.495 117 3/20/08 10.495
38 8/20/01 10.495 78 12/20/04 10.495 118 4/20/08 10.495
39 9/20/01 10.495 79 1/20/05 10.495 119 5/20/08 10.495
40 10/20/01 10.495 80 2/20/05 10.495 120 6/20/08 10.495
</TABLE>
*Available Funds Cap Assuming that Six Month LIBOR remains constant at 5.75% @
Pricing Speed of 30 CPR
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
AVAILABLE FUNDS CAP*
<TABLE>
<CAPTION>
Period Date AFC Period Date AFC Period Date AFC
- ------ ---- --- ------ ---- --- ------ ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 7/20/08 10.495 161 11/20/11 10.495 201 3/20/15 10.496
122 8/20/08 10.495 162 12/20/11 10.495 202 4/20/15 10.496
123 9/20/08 10.495 163 1/20/12 10.495 203 5/20/15 10.496
124 10/20/08 10.495 164 2/20/12 10.495 204 6/20/15 10.496
125 11/20/08 10.495 165 3/20/12 10.495 205 7/20/15 10.496
126 12/20/08 10.495 166 4/20/12 10.495 206 8/20/15 10.496
127 1/20/09 10.495 167 5/20/12 10.495 207 9/20/15 10.496
128 2/20/09 10.495 168 6/20/12 10.495 208 10/20/15 10.496
129 3/20/09 10.495 169 7/20/12 10.495 209 11/20/15 10.496
130 4/20/09 10.495 170 8/20/12 10.495 210 12/20/15 10.496
131 5/20/09 10.495 171 9/20/12 10.495 211 1/20/16 10.496
132 6/20/09 10.495 172 10/20/12 10.495 212 2/20/16 10.496
133 7/20/09 10.495 173 11/20/12 10.496 213 3/20/16 10.496
134 8/20/09 10.495 174 12/20/12 10.496 214 4/20/16 10.496
135 9/20/09 10.495 175 1/20/13 10.496 215 5/20/16 10.496
136 10/20/09 10.495 176 2/20/13 10.496 216 6/20/16 10.496
137 11/20/09 10.495 177 3/20/13 10.496 217 7/20/16 10.496
138 12/20/09 10.495 178 4/20/13 10.496 218 8/20/16 10.496
139 1/20/10 10.495 179 5/20/13 10.496 219 9/20/16 10.496
140 2/20/10 10.495 180 6/20/13 10.496 220 10/20/16 10.496
141 3/20/10 10.495 181 7/20/13 10.496 221 11/20/16 10.496
142 4/20/10 10.495 182 8/20/13 10.496 222 12/20/16 10.496
143 5/20/10 10.495 183 9/20/13 10.496 223 1/20/17 10.496
144 6/20/10 10.495 184 10/20/13 10.496 224 2/20/17 10.496
145 7/20/10 10.495 185 11/20/13 10.496 225 3/20/17 10.496
146 8/20/10 10.495 186 12/20/13 10.496 226 4/20/17 10.496
147 9/20/10 10.495 187 1/20/14 10.496 227 5/20/17 10.496
148 10/20/10 10.495 188 2/20/14 10.496 228 6/20/17 10.496
149 11/20/10 10.495 189 3/20/14 10.496 229 7/20/17 10.496
150 12/20/10 10.495 190 4/20/14 10.496 230 8/20/17 10.496
151 1/20/11 10.495 191 5/20/14 10.496 231 9/20/17 10.496
152 2/20/11 10.495 192 6/20/14 10.496 232 10/20/17 10.496
153 3/20/11 10.495 193 7/20/14 10.496 233 11/20/17 10.496
154 4/20/11 10.495 194 8/20/14 10.496 234 12/20/17 10.497
155 5/20/11 10.495 195 9/20/14 10.496 235 1/20/18 10.497
156 6/20/11 10.495 196 10/20/14 10.496 236 2/20/18 10.497
157 7/20/11 10.495 197 11/20/14 10.496 237 3/20/18 10.497
158 8/20/11 10.495 198 12/20/14 10.496 238 4/20/18 10.497
159 9/20/11 10.495 199 1/20/15 10.496 239 5/20/18 10.497
160 10/20/11 10.495 200 2/20/15 10.496 240 6/20/18 10.497
</TABLE>
*Available Funds Cap Assuming that Six Month LIBOR remains constant at 5.75% @
Pricing Speed of 30 CPR
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
AVAILABLE FUNDS CAP*
<TABLE>
<CAPTION>
Period Date AFC Period Date AFC Period Date AFC
- ------ ---- --- ------ ---- --- ------ ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
241 7/20/18 10.497 281 11/20/21 10.498 321 3/20/25 10.505
242 8/20/18 10.497 282 12/20/21 10.498 322 4/20/25 10.505
243 9/20/18 10.497 283 1/20/22 10.499 323 5/20/25 10.505
244 10/20/18 10.497 284 2/20/22 10.499 324 6/20/25 10.506
245 11/20/18 10.497 285 3/20/22 10.499 325 7/20/25 10.506
246 12/20/18 10.497 286 4/20/22 10.499 326 8/20/25 10.507
247 1/20/19 10.497 287 5/20/22 10.499 327 9/20/25 10.507
248 2/20/19 10.497 288 6/20/22 10.499 328 10/20/25 10.508
249 3/20/19 10.497 289 7/20/22 10.499 329 11/20/25 10.509
250 4/20/19 10.497 290 8/20/22 10.499 330 12/20/25 10.509
251 5/20/19 10.497 291 9/20/22 10.499 331 1/20/26 10.510
252 6/20/19 10.497 292 10/20/22 10.499 332 2/20/26 10.511
253 7/20/19 10.497 293 11/20/22 10.499 333 3/20/26 10.512
254 8/20/19 10.497 294 12/20/22 10.499 334 4/20/26 10.513
255 9/20/19 10.497 295 1/20/23 10.500 335 5/20/26 10.514
256 10/20/19 10.497 296 2/20/23 10.500 336 6/20/26 10.516
257 11/20/19 10.497 297 3/20/23 10.500 337 7/20/26 10.517
258 12/20/19 10.497 298 4/20/23 10.500 338 8/20/26 10.519
259 1/20/20 10.497 299 5/20/23 10.500 339 9/20/26 10.522
260 2/20/20 10.497 300 6/20/23 10.500 340 10/20/26 10.524
261 3/20/20 10.497 301 7/20/23 10.500 341 11/20/26 10.528
262 4/20/20 10.497 302 8/20/23 10.500 342 12/20/26 10.532
263 5/20/20 10.497 303 9/20/23 10.501 343 1/20/27 10.537
264 6/20/20 10.498 304 10/20/23 10.501 344 2/20/27 10.544
265 7/20/20 10.498 305 11/20/23 10.501 345 3/20/27 10.554
266 8/20/20 10.498 306 12/20/23 10.501 346 4/20/27 10.569
267 9/20/20 10.498 307 1/20/24 10.501 347 5/20/27 10.593
268 10/20/20 10.498 308 2/20/24 10.501 348 6/20/27 10.593
269 11/20/20 10.498 309 3/20/24 10.502 349 7/20/27 10.594
270 12/20/20 10.498 310 4/20/24 10.502 350 8/20/27 10.595
271 1/20/21 10.498 311 5/20/24 10.502 351 9/20/27 10.596
272 2/20/21 10.498 312 6/20/24 10.502 352 10/20/27 10.597
273 3/20/21 10.498 313 7/20/24 10.502 353 11/20/27 10.598
274 4/20/21 10.498 314 8/20/24 10.503 354 12/20/27 10.600
275 5/20/21 10.498 315 9/20/24 10.503 355 1/20/28 10.602
276 6/20/21 10.498 316 10/20/24 10.503 356 2/20/28 10.606
277 7/20/21 10.498 317 11/20/24 10.503 357 3/20/28 10.611
278 8/20/21 10.498 318 12/20/24 10.504 358 4/20/28 10.620
279 9/20/21 10.498 319 1/20/25 10.504 359 5/20/28 10.640
280 10/20/21 10.498 320 2/20/25 10.504 360 6/20/28 10.695
</TABLE>
*Available Funds Cap Assuming that Six Month LIBOR remains constant at 5.75% @
Pricing Speed of 30 CPR
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
AVAILABLE FUNDS CAP**
<TABLE>
<CAPTION>
Period Date AFC Period Date AFC Period Date AFC
- ------ ---- --- ------ ---- --- ------ ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 7/20/98 8.293 41 11/20/01 13.720 81 3/20/05 14.564
2 8/20/98 8.293 42 12/20/01 13.720 82 4/20/05 14.564
3 9/20/98 8.143 43 1/20/02 14.474 83 5/20/05 14.564
4 10/20/98 8.143 44 2/20/02 14.557 84 6/20/05 14.564
5 11/20/98 8.143 45 3/20/02 14.557 85 7/20/05 14.564
6 12/20/98 8.264 46 4/20/02 14.560 86 8/20/05 14.564
7 1/20/99 8.530 47 5/20/02 14.562 87 9/20/05 14.564
8 2/20/99 8.612 48 6/20/02 14.562 88 10/20/05 14.564
9 3/20/99 8.612 49 7/20/02 14.562 89 11/20/05 14.564
10 4/20/99 8.612 50 8/20/02 14.562 90 12/20/05 14.564
11 5/20/99 8.612 51 9/20/02 14.562 91 1/20/06 14.564
12 6/20/99 8.733 52 10/20/02 14.562 92 2/20/06 14.564
13 7/20/99 9.499 53 11/20/02 14.563 93 3/20/06 14.564
14 8/20/99 9.582 54 12/20/02 14.563 94 4/20/06 14.564
15 9/20/99 9.582 55 1/20/03 14.563 95 5/20/06 14.564
16 10/20/99 9.582 56 2/20/03 14.563 96 6/20/06 14.564
17 11/20/99 9.582 57 3/20/03 14.563 97 7/20/06 14.564
18 12/20/99 9.703 58 4/20/03 14.563 98 8/20/06 14.564
19 1/20/00 10.469 59 5/20/03 14.564 99 9/20/06 14.564
20 2/20/00 10.552 60 6/20/03 14.564 100 10/20/06 14.564
21 3/20/00 10.552 61 7/20/03 14.564 101 11/20/06 14.564
22 4/20/00 10.748 62 8/20/03 14.564 102 12/20/06 14.564
23 5/20/00 10.748 63 9/20/03 14.564 103 1/20/07 14.564
24 6/20/00 10.869 64 10/20/03 14.564 104 2/20/07 14.564
25 7/20/00 11.635 65 11/20/03 14.564 105 3/20/07 14.564
26 8/20/00 11.718 66 12/20/03 14.564 106 4/20/07 14.564
27 9/20/00 11.718 67 1/20/04 14.564 107 5/20/07 14.564
28 10/20/00 11.784 68 2/20/04 14.564 108 6/20/07 14.564
29 11/20/00 11.784 69 3/20/04 14.564 109 7/20/07 14.564
30 12/20/00 11.864 70 4/20/04 14.564 110 8/20/07 14.564
31 1/20/01 12.630 71 5/20/04 14.564 111 9/20/07 14.564
32 2/20/01 12.713 72 6/20/04 14.564 112 10/20/07 14.564
33 3/20/01 12.713 73 7/20/04 14.564 113 11/20/07 14.564
34 4/20/01 12.799 74 8/20/04 14.564 114 12/20/07 14.564
35 5/20/01 12.804 75 9/20/04 14.564 115 1/20/08 14.564
36 6/20/01 12.804 76 10/20/04 14.564 116 2/20/08 14.564
37 7/20/01 13.570 77 11/20/04 14.564 117 3/20/08 14.564
38 8/20/01 13.653 78 12/20/04 14.564 118 4/20/08 14.564
39 9/20/01 13.653 79 1/20/05 14.564 119 5/20/08 14.564
40 10/20/01 13.718 80 2/20/05 14.564 120 6/20/08 14.564
</TABLE>
**Available Funds Cap Assuming that Six Month LIBOR immediately rises above
Ceilings of Collateral @ Pricing Speed of 30 CPR
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
AVAILABLE FUNDS CAP**
<TABLE>
<CAPTION>
Period Date AFC Period Date AFC Period Date AFC
- ------ ---- --- ------ ---- --- ------ ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 7/20/08 14.564 161 11/20/11 14.564 201 3/20/15 14.564
122 8/20/08 14.564 162 12/20/11 14.564 202 4/20/15 14.564
123 9/20/08 14.564 163 1/20/12 14.564 203 5/20/15 14.564
124 10/20/08 14.564 164 2/20/12 14.564 204 6/20/15 14.564
125 11/20/08 14.564 165 3/20/12 14.564 205 7/20/15 14.564
126 12/20/08 14.564 166 4/20/12 14.564 206 8/20/15 14.564
127 1/20/09 14.564 167 5/20/12 14.564 207 9/20/15 14.564
128 2/20/09 14.564 168 6/20/12 14.564 208 10/20/15 14.564
129 3/20/09 14.564 169 7/20/12 14.564 209 11/20/15 14.564
130 4/20/09 14.564 170 8/20/12 14.564 210 12/20/15 14.564
131 5/20/09 14.564 171 9/20/12 14.564 211 1/20/16 14.564
132 6/20/09 14.564 172 10/20/12 14.564 212 2/20/16 14.564
133 7/20/09 14.564 173 11/20/12 14.564 213 3/20/16 14.564
134 8/20/09 14.564 174 12/20/12 14.564 214 4/20/16 14.564
135 9/20/09 14.564 175 1/20/13 14.564 215 5/20/16 14.564
136 10/20/09 14.564 176 2/20/13 14.564 216 6/20/16 14.564
137 11/20/09 14.564 177 3/20/13 14.564 217 7/20/16 14.564
138 12/20/09 14.564 178 4/20/13 14.564 218 8/20/16 14.564
139 1/20/10 14.564 179 5/20/13 14.564 219 9/20/16 14.564
140 2/20/10 14.564 180 6/20/13 14.564 220 10/20/16 14.564
141 3/20/10 14.564 181 7/20/13 14.564 221 11/20/16 14.564
142 4/20/10 14.564 182 8/20/13 14.564 222 12/20/16 14.564
143 5/20/10 14.564 183 9/20/13 14.564 223 1/20/17 14.564
144 6/20/10 14.564 184 10/20/13 14.564 224 2/20/17 14.564
145 7/20/10 14.564 185 11/20/13 14.564 225 3/20/17 14.564
146 8/20/10 14.564 186 12/20/13 14.564 226 4/20/17 14.564
147 9/20/10 14.564 187 1/20/14 14.564 227 5/20/17 14.564
148 10/20/10 14.564 188 2/20/14 14.564 228 6/20/17 14.564
149 11/20/10 14.564 189 3/20/14 14.564 229 7/20/17 14.564
150 12/20/10 14.564 190 4/20/14 14.564 230 8/20/17 14.564
151 1/20/11 14.564 191 5/20/14 14.564 231 9/20/17 14.564
152 2/20/11 14.564 192 6/20/14 14.564 232 10/20/17 14.564
153 3/20/11 14.564 193 7/20/14 14.564 233 11/20/17 14.564
154 4/20/11 14.564 194 8/20/14 14.564 234 12/20/17 14.564
155 5/20/11 14.564 195 9/20/14 14.564 235 1/20/18 14.564
156 6/20/11 14.564 196 10/20/14 14.564 236 2/20/18 14.564
157 7/20/11 14.564 197 11/20/14 14.564 237 3/20/18 14.564
158 8/20/11 14.564 198 12/20/14 14.564 238 4/20/18 14.564
159 9/20/11 14.564 199 1/20/15 14.564 239 5/20/18 14.564
160 10/20/11 14.564 200 2/20/15 14.564 240 6/20/18 14.564
</TABLE>
**Available Funds Cap Assuming that Six Month LIBOR immediately rises above
Ceilings of Collateral @ Pricing Speed of 30 CPR
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$30,000,000 Adjustable Rate Mortgage Loan, Asset Backed Notes, Series 1998-2A
Preliminary Marketing Memo
AVAILABLE FUNDS CAP**
<TABLE>
<CAPTION>
Period Date AFC Period Date AFC Period Date AFC
- ------ ---- --- ------ ---- --- ------ ---- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
241 7/20/18 14.564 281 11/20/21 14.562 321 3/20/25 14.556
242 8/20/18 14.564 282 12/20/21 14.562 322 4/20/25 14.556
243 9/20/18 14.564 283 1/20/22 14.562 323 5/20/25 14.556
244 10/20/18 14.564 284 2/20/22 14.562 324 6/20/25 14.555
245 11/20/18 14.564 285 3/20/22 14.562 325 7/20/25 14.555
246 12/20/18 14.564 286 4/20/22 14.562 326 8/20/25 14.554
247 1/20/19 14.564 287 5/20/22 14.562 327 9/20/25 14.554
248 2/20/19 14.564 288 6/20/22 14.562 328 10/20/25 14.553
249 3/20/19 14.564 289 7/20/22 14.562 329 11/20/25 14.552
250 4/20/19 14.564 290 8/20/22 14.562 330 12/20/25 14.551
251 5/20/19 14.564 291 9/20/22 14.562 331 1/20/26 14.551
252 6/20/19 14.564 292 10/20/22 14.562 332 2/20/26 14.550
253 7/20/19 14.563 293 11/20/22 14.562 333 3/20/26 14.549
254 8/20/19 14.563 294 12/20/22 14.562 334 4/20/26 14.547
255 9/20/19 14.563 295 1/20/23 14.561 335 5/20/26 14.546
256 10/20/19 14.563 296 2/20/23 14.561 336 6/20/26 14.544
257 11/20/19 14.563 297 3/20/23 14.561 337 7/20/26 14.543
258 12/20/19 14.563 298 4/20/23 14.561 338 8/20/26 14.541
259 1/20/20 14.563 299 5/20/23 14.561 339 9/20/26 14.538
260 2/20/20 14.563 300 6/20/23 14.561 340 10/20/26 14.535
261 3/20/20 14.563 301 7/20/23 14.561 341 11/20/26 14.531
262 4/20/20 14.563 302 8/20/23 14.561 342 12/20/26 14.527
263 5/20/20 14.563 303 9/20/23 14.561 343 1/20/27 14.521
264 6/20/20 14.563 304 10/20/23 14.560 344 2/20/27 14.513
265 7/20/20 14.563 305 11/20/23 14.560 345 3/20/27 14.502
266 8/20/20 14.563 306 12/20/23 14.560 346 4/20/27 14.485
267 9/20/20 14.563 307 1/20/24 14.560 347 5/20/27 14.457
268 10/20/20 14.563 308 2/20/24 14.560 348 6/20/27 14.457
269 11/20/20 14.563 309 3/20/24 14.560 349 7/20/27 14.456
270 12/20/20 14.563 310 4/20/24 14.559 350 8/20/27 14.456
271 1/20/21 14.563 311 5/20/24 14.559 351 9/20/27 14.455
272 2/20/21 14.563 312 6/20/24 14.559 352 10/20/27 14.455
273 3/20/21 14.563 313 7/20/24 14.559 353 11/20/27 14.454
274 4/20/21 14.563 314 8/20/24 14.559 354 12/20/27 14.452
275 5/20/21 14.563 315 9/20/24 14.558 355 1/20/28 14.451
276 6/20/21 14.563 316 10/20/24 14.558 356 2/20/28 14.448
277 7/20/21 14.563 317 11/20/24 14.558 357 3/20/28 14.444
278 8/20/21 14.563 318 12/20/24 14.557 358 4/20/28 14.437
279 9/20/21 14.563 319 1/20/25 14.557 359 5/20/28 14.422
280 10/20/21 14.563 320 2/20/25 14.557 360 6/20/28 14.338
</TABLE>
**Available Funds Cap Assuming that Six Month LIBOR immediately rises above
Ceilings of Collateral @ Pricing Speed of 30 CPR
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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>
Preliminary Marketing Materials
First Alliance Mortgage Loan Trust 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
The attached Marketing Memorandum (the "Marketing 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
"Underwriter") and not by the issuer of the notes identified above (the "Notes")
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.
[FIRST UNION LOGO]
FIRST UNION CAPITAL MARKETS
<PAGE>
First Alliance Mortgage Loan Trust 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
SUMMARY OF TERMS
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
(the "Fixed Rate Notes")
Issuer: First Alliance Mortgage Loan Trust 1998-2
(the "Trust")
Seller: First Alliance Mortgage Company
Servicer: First Alliance Mortgage Company
Manager: First Union Capital Markets
Securities Offered: 1998-2F
-------
Amount: $70,000,000
Collateral: Fixed-rate Home
Equity Loans
Cut-off Date: 06/01/98
Prepayment Assumption/1: 27% HEP/1
Expected Coupon: TBD
Spread: TBD
To Maturity:
Average Life 3.085
Expected Maturity 04/20/2014
To 10% Call:
Average Life 2.847
Expected Maturity 08/20/2005
Stated Maturity: 09/20/2029
Payment Frequency: Monthly
Interest rate basis: 30/360
Dated Date: 06/01/98
Payment Delay: 19 days
Pricing Date (expected): 06/10/98
Settlement Date(expected): 06/26/98
First Payment Date: 07/20/98
Rating (S&P/Moody's): AAA/Aaa
1/HEP assumes that a pool of loans prepays in the first month of the life of
such loan at a constant prepayment rate that corresponds in CPR to one-tenth the
given HEP percentage and increases by an additional one-tenth each month
thereafter until the tenth month, where it remains at a CPR equal to the given
HEP percentage.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
Description of the Notes: The Fixed Rate Notes represents non-recourse
obligations of the Issuer and is secured by the
assets of the Trust, which will include (i) two pools
of mortgage loans, one consisting of the Adjustable
Rate Mortgage Loans (the "Adjustable Rate Pool") and
the other consisting of the Fixed Rate Mortgage Loans
(the "Fixed Rate Pool") (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 Policies and (vi) certain other property.
The Fixed Rate Pool will be the sole source of
payments on the Fixed Rate Notes. The Fixed Rate
Notes will be issued in a single class.
Indenture Trustee: The Chase Manhattan Bank
Owner Trustee: Wilmington Trust Company
Note Insurer: Financial Surety Assurance, Inc. ("FSA"). The
claims-paying ability of FSA is rated "AAA" by
Standard & Poor's and "Aaa" by Moody's.
Note Insurance
Policies: The insurance policies of FSA guarantee the timely
payment of interest and the ultimate payment of
principal on the Fixed Rate Notes.
Credit Enhancement: 1. Monthly Excess Spread
2. Overcollateralization
3. Insurance policy
Servicing Fee: 50 bps per annum
Trustee Fee: [1] bps
Form of Notes: Book-Entry Form, delivered through the facilities of
DTC, Cedel, and Euroclear against payment in
immediately available funds.
Overcollateralization: The credit enhancement provisions are intended to
provide for the limited acceleration of the Fixed
Rate 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 Fixed
Rate Notes, resulting in the build up of
overcollateralization (O/C) in an amount equal to the
excess of the aggregate principal balance of the
Fixed Rate Mortgage Pool over the principal balance
of the Fixed Rate Notes. 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 Fixed Rate Notes may be redeemed, in full but not
in part, at the option of the Servicer on or after
the first Payment Date on which the Aggregate
Principal Balance of the Mortgage Loans in the Fixed
Rate Mortgage Pool has declined to 10% or less of its
Original Pool Balance. In addition, the Note Insurer
will have rights, under limited circumstances, to
effect a redemption of the Fixed Rate Notes and
terminate the indenture.
Fixed Rate
Note Rate: Fixed Rate Note Rate will be [_]% per annum. Interest
on the Fixed Rate Notes will accrue during the
calendar month immediately preceding the month in
which a Payment Date occurs, calculated on the basis
of a 360-day year consisting of twelve 30-day months.
Fixed Rate
Coupon Step-up: After the Fixed Rate Clean-Up Call Date, the Fixed
Rate Note Rate will increase by 50 bps, subject to
the "Fixed Rate Note Rate Cap" which is defined to be
the weighted average of the Mortgage Rates on the
Fixed Rate Mortgage Loans, less the Servicing Fee and
other expenses.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
Monthly Principal: The Fixed Rate Noteholders 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 fees and
expenses; and
(b) (i) the sum, without any duplication of:
(a) the Principal 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 during the related
Remittance Period;
(c) the scheduled principal balance of each
Mortgage Loan repurchased on the related
Remittance Date;
(d) the principal portion of any Substitution
Amounts;
(e) the principal portion of all Net
Liquidation Proceeds during the related
Remittance Period
(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; and
(i) the amount of any Subordination Increase
Amount for such Payment Date;
minus
(ii) the amount of any Subordination Reduction
Amount for such Payment Date.
Principal Carry-Forward Amount: The sum of (a) the
amount by which the Monthly Principal Payment Amount
as of the immediately preceding Payment Date exceeded
the amount of the actual principal 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 Fixed Rate NoteRate.
Subordination Deficit: The amount, if any, by which
(a) the Fixed Rate NotePrincipal 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.
Delinquency Advances: The Servicer will be obligated to make advances with
respect to delinquent payments of interest (at the
related Mortgage Rate less the Servicing Fee, as
defined below) and scheduled principal due on each
Mortgage Loan to the extent that such Delinquency
Advances, in good faith and in the Servicer's
reasonable judgment, are reasonably recoverable from
the related Mortgage Loan.
Compensating Interest: With respect to any Mortgage Loan which prepays in
full, the Servicer will be remit out of its own funds
without any right of reimbursement therefor, an
amount equal to the difference between (x) 30 days'
interest at such Mortgage Loan's Mortgage Rate (less
the Servicing Fee) on the principal balance of such
Mortgage Loan as of the first day of the related
Remittance Period and (y) to the extent not
previously advanced, the interest (less the Servicing
Fee) actually paid by the Mortgagor with respect to
such Mortgage Loan during such Remittance Period.
Compensating Interest with respect to any Remittance
Period will be capped at the aggregate Servicing Fee
received by the Servicer for such Remittance Period.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
Pre-Funding Accounts: On the Closing Date, the Pre-Funded Amount, which
will be funded from the sale of the Fixed Rate Notes,
will be deposited into the Pre-Funding Account, which
will be in the name of, and maintained by, the
Indenture Trustee in trust for the benefit of the
holders of the Fixed Rate Notes, and may be used to
acquire subsequent mortgage loans.
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 holders of the Fixed
Rate Notes to ensure payments of interest on the
Pre-funded amount during the Funding Period.
Mandatory Prepayment
of Notes: In the event that by June 30, 1998, not all funds in
the Pre-Funding Account have been used to acquire
Subsequent Mortgage Loans for inclusion in the Fixed
Rate Mortgage Loan Pool, the Owners of the Fixed Rate
Notes will receive a prepayment on the Payment Date
in July 1998 in an amount equal to the Pre-Funded
Amount, less any Pre-Funding Account Earnings
remaining at the end of the Funding Period.
ERISA Considerations: The Fixed Rate 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 Fixed Rate Notes will not constitute "mortgage
related securities" for purposed of the Secondary
Mortgage Market Enhancement Act of 1984 ("SMMEA").
Taxation: The Fixed Rate Notes will be treated as debt
obligations for tax purposes. No REMIC election
will be made.
Contact: Russ Andrews (704) 374-3472
Wallace Saunders (704) 374-4868
Pearl Bassard (704) 383-7591
David Duque (704) 383-5525
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
Series 1998-2F
Price Yield Table
*** To Maturity ***
HEP
---------------------------------------------------------------
Price 21% 23% 27% 31% 33% 35%
----- ---------------------------------------------------------------
98.00000 7.215 7.258 7.347 7.438 7.485 7.534
98.12500 7.174 7.214 7.295 7.380 7.423 7.469
98.25000 7.133 7.169 7.244 7.322 7.362 7.403
98.37500 7.091 7.125 7.193 7.264 7.301 7.338
98.50000 7.050 7.081 7.143 7.207 7.239 7.274
98.62500 7.009 7.037 7.092 7.149 7.178 7.209
98.75000 6.969 6.993 7.041 7.092 7.118 7.145
98.87500 6.928 6.949 6.991 7.035 7.057 7.080
99.00000 6.887 6.905 6.941 6.977 6.996 7.016
99.12500 6.847 6.861 6.891 6.921 6.936 6.952
99.25000 6.806 6.818 6.841 6.864 6.876 6.888
99.37500 6.766 6.774 6.791 6.807 6.816 6.825
99.50000 6.726 6.731 6.741 6.751 6.756 6.761
99.62500 6.686 6.688 6.691 6.694 6.696 6.698
99.75000 6.646 6.645 6.642 6.638 6.636 6.635
99.87500 6.606 6.602 6.593 6.582 6.577 6.572
100.00000 6.566 6.559 6.543 6.526 6.517 6.509
100.12500 6.526 6.516 6.494 6.471 6.458 6.446
100.25000 6.486 6.473 6.445 6.415 6.399 6.384
100.37500 6.447 6.431 6.396 6.360 6.341 6.322
100.50000 6.408 6.388 6.348 6.304 6.282 6.259
100.62500 6.368 6.346 6.299 6.249 6.223 6.197
100.75000 6.329 6.304 6.251 6.194 6.165 6.136
100.87500 6.290 6.261 6.202 6.139 6.107 6.074
101.00000 6.251 6.219 6.154 6.085 6.049 6.012
101.12500 6.212 6.178 6.106 6.030 5.991 5.951
101.25000 6.173 6.136 6.058 5.976 5.933 5.890
101.37500 6.134 6.094 6.010 5.921 5.875 5.829
101.50000 6.096 6.052 5.962 5.867 5.818 5.768
101.62500 6.057 6.011 5.915 5.813 5.760 5.707
101.75000 6.019 5.969 5.867 5.759 5.703 5.647
101.87500 5.980 5.928 5.820 5.705 5.646 5.586
102.00000 5.942 5.887 5.772 5.652 5.589 5.526
Average Life: 3.996 3.645 3.085 2.657 2.480 2.321
Duration: 3.129 2.905 2.530 2.230 2.101 1.984
Payment Window: 1-242 1-223 1-190 1-164 1-154 1-144
Last Pay: 08/20/18 01/20/17 04/20/14 02/20/12 04/20/11 06/20/10
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
Series 1998-2F
Price Yield Table
*** To Call ***
HEP
---------------------------------------------------------------
Price 21% 23% 27% 31% 33% 35%
----- ---------------------------------------------------------------
98.00000 7.217 7.262 7.356 7.453 7.503 7.555
98.12500 7.174 7.216 7.302 7.391 7.438 7.486
98.25000 7.131 7.169 7.248 7.330 7.373 7.417
98.37500 7.088 7.123 7.195 7.269 7.308 7.348
98.50000 7.045 7.077 7.141 7.209 7.243 7.280
98.62500 7.002 7.030 7.088 7.148 7.179 7.211
98.75000 6.960 6.984 7.035 7.087 7.115 7.143
98.87500 6.917 6.938 6.982 7.027 7.050 7.075
99.00000 6.875 6.892 6.929 6.967 6.986 7.007
99.12500 6.832 6.847 6.876 6.907 6.923 6.939
99.25000 6.790 6.801 6.823 6.847 6.859 6.872
99.37500 6.748 6.755 6.771 6.787 6.795 6.804
99.50000 6.706 6.710 6.719 6.727 6.732 6.737
99.62500 6.664 6.665 6.666 6.668 6.669 6.670
99.75000 6.622 6.619 6.614 6.609 6.606 6.603
99.87500 6.580 6.574 6.562 6.549 6.543 6.536
100.00000 6.539 6.529 6.510 6.490 6.480 6.469
100.12500 6.497 6.484 6.458 6.431 6.417 6.403
100.25000 6.456 6.440 6.407 6.372 6.355 6.336
100.37500 6.414 6.395 6.355 6.314 6.292 6.270
100.50000 6.373 6.350 6.304 6.255 6.230 6.204
100.62500 6.332 6.306 6.252 6.197 6.168 6.138
100.75000 6.291 6.261 6.201 6.139 6.106 6.072
100.87500 6.250 6.217 6.150 6.080 6.044 6.007
101.00000 6.209 6.173 6.099 6.022 5.983 5.941
101.12500 6.168 6.129 6.048 5.965 5.921 5.876
101.25000 6.127 6.085 5.998 5.907 5.860 5.811
101.37500 6.087 6.041 5.947 5.849 5.799 5.746
101.50000 6.046 5.997 5.896 5.792 5.738 5.681
101.62500 6.006 5.954 5.846 5.734 5.677 5.616
101.75000 5.965 5.910 5.796 5.677 5.616 5.552
101.87500 5.925 5.867 5.746 5.620 5.556 5.488
102.00000 5.885 5.823 5.696 5.563 5.495 5.423
Average Life: 3.696 3.368 2.847 2.453 2.290 2.139
Duration: 2.990 2.768 2.400 2.108 1.984 1.868
Payment Window: 1-112 1-102 1-86 1-74 1-69 1-64
Last Pay: 10/20/07 12/20/06 08/20/05 08/20/04 03/20/04 10/20/03
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
FIXED RATE POOL
POOL SUMMARY
Number of Mortgage Loans: 672
Aggregate Unpaid Principal Balance: $56,038,610.90
Average Unpaid Principal Balance: $83,390.79
Unpaid Principal Balance Range: $14,940.18 - $300,735.49
Weighted Average Coupon: 9.707%
Coupon Range: 7.250% - 14.990%
Weighted Average Remaining Term (months): 333
Remaining Term Range (months): 104 - 360
Weighted Average Original Term (months): 339
Original Term Range (months): 120 - 362
Weighted Average CLTV: 59.77%
CLTV Range: 8.33% - 84.99%
% First Lien 98.84%
% Second Lien 1.16%
Weighted Average Junior Lien Ratio/1: 99.35%
1/ The "Junior Lien Ratio" of a Mortgage Loan is equal to the ratio (expressed
as a percentage) of the original principal balance of such Mortgage Loan to
the sum of (i) the original principal balance of such Mortgage Loan and (ii)
the outstanding principal balances of any senior mortgage loans (computed at
the date of origination of the Mortgage Loan).
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
FIXED RATE POOL
UNPAID PRINCIPAL BALANCES
<TABLE>
<CAPTION>
Aggregate Percentage
Unpaid Number of Unpaid of Aggregate
Principal Mortgage Principal Principal
Balance Loans Balance Balance
<S> <C> <C> <C>
10,000.01 - 15,000.00 1 14,940.18 0.03
15,000.01 - 20,000.00 8 152,242.58 0.27
20,000.01 - 25,000.00 10 230,774.79 0.41
25,000.01 - 30,000.00 19 545,167.55 0.97
30,000.01 - 35,000.00 16 536,830.29 0.96
35,000.01 - 40,000.00 32 1,230,235.74 2.20
40,000.01 - 45,000.00 34 1,435,550.64 2.56
45,000.01 - 50,000.00 29 1,397,576.43 2.49
50,000.01 - 55,000.00 26 1,366,531.91 2.44
55,000.01 - 60,000.00 38 2,210,259.96 3.94
60,000.01 - 65,000.00 32 2,008,313.71 3.58
65,000.01 - 70,000.00 39 2,660,740.35 4.75
70,000.01 - 75,000.00 41 2,988,985.06 5.33
75,000.01 - 80,000.00 54 4,190,440.53 7.48
80,000.01 - 85,000.00 36 2,963,857.72 5.29
85,000.01 - 90,000.00 32 2,798,400.23 4.99
90,000.01 - 95,000.00 27 2,499,391.11 4.46
95,000.01 - 100,000.00 21 2,057,580.82 3.67
100,000.01 - 125,000.00 87 9,668,988.33 17.25
125,000.01 - 150,000.00 43 5,877,010.92 10.49
150,000.01 - 200,000.00 29 4,896,811.79 8.74
200,000.01 - 250,000.00 12 2,632,331.40 4.70
250,000.01 - 300,000.00 5 1,374,913.37 2.45
300,000.01 - 350,000.00 1 300,735.49 0.54
--- ------------- ------
672 56,038,610.90 100.00
=== ============= ======
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
FIXED RATE POOL
ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Original Mortgage Principal Principal
CLTV Loans Balance Balance
<S> <C> <C> <C>
5.01 - 10.00 1 14,940.18 0.03
10.01 - 15.00 5 156,892.44 0.28
15.01 - 20.00 16 434,879.30 0.78
20.01 - 25.00 20 804,412.04 1.44
25.01 - 30.00 21 904,432.40 1.61
30.01 - 35.00 44 2,163,458.66 3.86
35.01 - 40.00 43 2,572,627.21 4.59
40.01 - 45.00 45 3,231,239.38 5.77
45.01 - 50.00 51 3,574,920.37 6.38
50.01 - 55.00 76 5,979,927.84 10.67
55.01 - 60.00 60 5,104,066.65 9.11
60.01 - 65.00 85 8,352,253.75 14.90
65.01 - 70.00 70 6,607,949.77 11.79
70.01 - 75.00 85 10,551,486.76 18.83
75.01 - 80.00 43 4,857,521.15 8.67
80.01 - 85.00 7 727,603.00 1.30
--- ------------- ------
672 56,038,610.90 100.00
=== ============= ======
</TABLE>
FIXED RATE POOL
OCCUPANCY STATUS
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Occupancy Mortgage Principal Principal
Status Loans Balance Balance
<S> <C> <C> <C>
Owner Occupied 642 53,478,062.07 95.43
Non-Owner Occupied 30 2,560,548.83 4.57
--- ------------- ------
672 56,038,610.90 100.00
=== ============= ======
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
FIXED RATE POOL
JUNIOR LIEN RATIOS
<TABLE>
<CAPTION>
Aggregate Percentage
Junior Number of Unpaid of Aggregate
Lien Mortgage Principal Principal
Ratio Loans Balance Balance
<S> <C> <C> <C>
10.01 - 20.00 3 130,976.79 0.23
20.01 - 30.00 4 104,078.45 0.19
30.01 - 40.00 2 89,155.44 0.16
40.01 - 50.00 1 39,591.21 0.07
50.01 - 60.00 2 94,571.65 0.17
60.01 - 70.00 2 112,924.07 0.20
70.01 - 80.00 1 79,482.00 0.14
90.01 -100.00 657 55,387,831.29 98.84
--- ------------- -----
672 56,038,610.90 100.00
=== ============= ======
</TABLE>
FIXED RATE POOL
REMAINING TERMS TO STATED MATURITY
<TABLE>
<CAPTION>
Remaining Aggregate Percentage
Term to Number of Unpaid of Aggregate
Stated Mortgage Principal Principal
Maturity Loans Balance Balance
<S> <C> <C> <C>
97 - 108 1 19,434.13 0.03
109 - 120 8 429,553.33 0.77
157 - 168 5 320,832.24 0.57
169 - 180 87 5,066,504.31 9.04
229 - 240 21 1,462,471.74 2.61
301 - 312 16 2,212,565.70 3.95
313 - 324 5 499,042.89 0.89
325 - 336 6 514,173.93 0.92
337 - 348 34 3,330,764.33 5.94
349 - 360 489 42,183,268.30 75.28
--- ------------- ------
672 56,038,610.90 100.00
=== ============= ======
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
FIXED RATE POOL
MORTGAGE RATES
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Mortgage Mortgage Principal Principal
Rate Loans Balance Balance
<S> <C> <C> <C>
7.01 - 7.50 3 325,305.41 0.58
7.51 - 8.00 7 1,039,268.88 1.85
8.01 - 8.50 31 2,703,046.60 4.82
8.51 - 9.00 140 12,609,143.54 22.50
9.01 - 9.50 163 14,025,368.89 25.03
9.51 - 10.00 159 12,694,222.57 22.65
10.01 - 10.50 55 4,622,871.54 8.25
10.51 - 11.00 57 4,312,692.42 7.70
11.01 - 11.50 15 1,097,818.57 1.96
11.51 - 12.00 18 949,845.61 1.69
12.01 - 12.50 8 579,653.73 1.03
12.51 - 13.00 5 288,593.41 0.51
13.51 - 14.00 5 371,450.96 0.66
14.01 - 14.50 2 178,523.65 0.32
14.51 - 15.00 4 240,805.12 0.43
--- ------------- ------
672 56,038,610.90 100.00
=== ============= ======
</TABLE>
FIXED RATE POOL
PROPERTY TYPES
<TABLE>
<CAPTION>
Aggregate Percentage
Number of Unpaid of Aggregate
Property Mortgage Principal Principal
Type Loans Balance Balance
<S> <C> <C> <C>
Single Family 591 50,370,024.03 89.88
2 - 4 Family 68 4,939,140.05 8.81
Condominium 8 356,059.75 0.64
Planned Unit Development 5 373,387.07 0.67
--- ------------- ------
672 56,038,610.90 100.00
=== ============= ======
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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 1998-2
$70,000,000 Fixed Rate Mortgage Loan, Asset Backed Notes, Series 1998-2F
Preliminary Marketing Memo
FIXED RATE POOL
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 8 585,370.76 1.04
California 175 16,019,450.26 28.59
Colorado 16 1,185,529.64 2.12
District of Col 6 360,162.71 0.64
Florida 22 1,517,262.47 2.71
Georgia 11 781,360.70 1.39
Hawaii 2 232,755.26 0.42
Idaho 1 63,452.14 0.11
Illinois 44 3,492,178.43 6.23
Maryland 25 1,747,889.87 3.12
Massachusetts 22 1,543,382.82 2.75
Michigan 1 97,089.97 0.17
Minnesota 4 264,727.44 0.47
New Jersey 84 7,060,434.30 12.60
New York 114 9,199,015.12 16.42
Ohio 19 1,409,708.48 2.52
Oregon 28 2,562,269.41 4.57
Pennsylvania 28 2,207,123.90 3.94
Utah 15 1,395,918.65 2.49
Virginia 4 325,217.73 0.58
Washington 43 3,988,310.84 7.12
--- ------------- ----
672 56,038,610.90 100.00
==== ============= ======
</TABLE>
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND
WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT.
FIRST UNION CAPITAL MARKETS
- --------------------------------------------------------------------------------
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. 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 CONTAINED IN 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.
