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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) June 8, 1998
ContiSecurities Asset Funding Corp.
----------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-39505 13-2937238
- ----------------------------- ---------------------- -------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) ID Number)
3811 West Charleston Boulevard, Las Vegas, Nevada 89102
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (702)822-5386
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
Filing of Computational Materials and Consent of Independent Accountants.
This Current Report on Form 8-K is being filed to file a
copy of the Final Computational Materials (as defined below) prepared by
Merrill Lynch & Co. as an underwriter, in connection with the issuance by
ContiMortgage Home Equity Loan Trust 1998-2 of Home Equity Loan Pass-Through
Certificates, Series 1998-2. The term "Computational Materials" shall have the
meaning given in the No-Action Letter of May 20, 1994 issued by the Securities
and Exchange Commission (the "SEC") to Kidder, Peabody Acceptance Corporation
I, Kidder, Peabody & Co. Incorporated and Kidder Structured Asset Corporation,
as made applicable to other issuers and underwriters by the Commission in
response to the request of the Public Securities Association dated May 24,
1994, and as supplemented in the No-Action Letter of February 17, 1995 issued
by the SEC to the Public Securities Association.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Computational Materials
2
<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 thereunto duly authorized.
CONTISECURITIES ASSET FUNDING CORP.,
as Depositor
By: /s/ Robert E. Riedl
---------------------
Name: Robert E. Riedl
Title: Vice President and Treasurer
Dated: June 8, 1998
3
<PAGE>
EXHIBIT INDEX
Exhibit Page
99.1 Computational Materials
<PAGE>
---------------------------------
$1,750,000,000
ContiMortgage
Home Equity Loan Trust 1998-2
--------------------------------
Computational Materials
[LOGO] Merrill Lynch 1
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
The attached tables and other statistical analyses (the "Computational
Materials") are privileged and confidential and are intended for use by the
addressee only. These Computational Materials are furnished to you solely by
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not
by the issuer of the securities or any of its affiliates. The issuer of these
securities has not prepared or taken part in the preparation of these
materials. Neither Merrill Lynch, the issuer of the securities nor any of its
affiliates makes any representation as to the accuracy or completeness of the
information herein. 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 by the addressees to any third
party other than the addressee's legal, tax, financial and/or accounting
advisors for the purposes of evaluating said material.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be stated therein. As such, no assurance can be given as to the
accuracy, appropriateness or completeness of the Computational Materials in
any particular context; or as to whether the Computational Materials and/or
the assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be
construed as either projections or predictions or as legal, tax, financial or
accounting advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment assumptions and actual prepayment experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower
or faster than the rates assumed in the attached Computational Materials.
Furthermore, unless otherwise provided, the Computational Materials assume no
losses on the underlying assets and no interest shortfall. The specific
characteristics of the securities may differ from those shown in the
Computational Materials due to differences between the actual underlying
assets and the hypothetical assets used in preparing the Computational
Materials. The principal amount and designation of any security described in
the Computational Materials are subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in this communication has been filed with the Securities
and Exchange Commission and is effective, the final prospectus supplement
relating to the securities discussed in this communication has not been filed
with the Securities and Exchange Commission. This communication shall not
constitute an offer to sell or the solicitation of any offer to buy nor shall
there be any sale of the securities discussed in this communication 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 securities discussed in this communication for
definitive Computational Materials on any matter discussed in this
communication. A final prospectus and prospectus supplement may be obtained by
contacting the Merrill Lynch Trading Desk at (212) 449-3659.
[LOGO] Merrill Lynch 2
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
<TABLE>
<CAPTION>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- ------------------------------------------------------------------------------------------------------------------------------------
Computational Materials
- ----------- ---------- --------------------------- ----------------- ------------------ ------------ ------------------ -----------
Final
Expected Ratings Scheduled
Class (Moody's/Fitch/ Average Payment Payment Day
Class(1) Size Tranche Type S&P) Life (2,3) Date Window (2,3) Count
($ MM)
=========== ========== =========================== ================= ================== =========== =================== ===========
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $114.00 2a-7 P-1/A-1+/F-1+ 0.28 years/MAT 6/15/99 07/98-12/98 / 6 mo. Act/360
A-2(4) 425.00 Fixed Sequential PAC Aaa/AAA/AAA 1.01 years/MAT 3/15/13 01/99-01/00 / 13 mo. 30/360
A-3(4) 275.00 Fixed Sequential PAC Aaa/AAA/AAA 2.02 years/MAT 3/15/13 01/00-01/01 / 13 mo. 30/360
A-4 185.00 Fixed Sequential PAC Aaa/AAA/AAA 3.02 years/MAT 1/15/14 01/01-03/02 / 15 mo. 30/360
A-5(5) 90.00 Fixed Sequential PAC Aaa/AAA/AAA 4.05 years/MAT 9/15/16 03/02-12/02 / 10 mo. 30/360
A-6(5) 97.00 Fixed Sequential PAC Aaa/AAA/AAA 5.10 years/MAT 11/15/19 12/02-05/04 / 18 mo. 30/360
A-7(5) 100.60 Fixed Sequential PAC Aaa/AAA/AAA 7.51 years/MAT 3/15/23 05/04-02/09 / 58 mo. 30/360
A-8(5)(6) 235.00 Floater Companion Aaa/AAA/AAA 5.18 years/CALL 6/15/28 12/98-08/05 / 81 mo. Act/360
A-9(5) 158.40 Group II Floater Aaa/AAA/AAA 2.47 years/CALL 6/15/28 07/98-08/05 / 86 mo. Act/360
B-1F(5) 70.00 Fixed Subordinate Baa3/BBB/BBB- 5.08 years/MAT 7/15/29 07/01-02/08 / 80 mo. 30/360
A-10 IO(6) -- Interest Only Aaa/AAA/AAAr 1.21 years Mod.Dur. 07/98-12/00 / 30 mo. 30/360
- ----------- ---------- --------------------------- --------------- ------------------- ----------- ------------------- -----------
Total $1,750 -- -- -- -- -- --
- ----------- ---------- --------------------------- --------------- ------------------- ----------- ------------------- -----------
</TABLE>
(1) Classes A-1 through A-8 are backed by the combined cash flow from the
Fixed Rate Home Equity Loans and the Group I Adjustable Rate Home Equity
Loans (Group I Collateral). Class A-9 is backed by the cash flow from the
Group II Adjustable Rate Home Equity Loans (Group II Collateral).
(2) See "Pricing Prepayment Speed" below.
(3) Fixed Rate tranches are priced to maturity. Class A-8 Certificates and
Class A-9 Certificates are priced to call. The spread on the Class A-8
Certificates increases 5 bps to LIBOR plus 30 bps after the clean-up call
date. The spread on the Class A-9 Certificates doubles after the clean-up
call date.
(4) The Class A-2 and/or A-3 Certificates may be swapped to a 1 Mo. LIBOR
floater. The Class A-2 and/or A-3 Certificates would be deposited into a
Grantor Trust. The Grantor Trust would enter a swap agreement with a swap
counterparty. Pursuant to the swap agreement, the swap counterparty would
receive a fixed rate from the Grantor Trust and would pay 1 Mo. LIBOR on
the outstanding principal balance of the Class A-2 and/or A-3
Certificates. The Grantor Trust would issue a 1 Mo. LIBOR floating rate
certificate based upon the outstanding principal balance of the Class A-2
and/or A-3 Certificates for purchase by investors. MBIA will provide an
insurance policy to wrap the Grantor Trust Certificates and the swap
payments from the swap counterparty.
(5) See "Available Funds Cap" below.
(6) The Class A-8 and the Class A-10 IO will be sole managed by Merrill Lynch.
Seller and Servicer: ContiMortgage Corporation
Trustee: Manufacturers and Traders Trust Company
Managers: Merrill Lynch (lead manager), ContiFinancial
Services Corporation, Bear Stearns, Credit Suisse
First Boston, Greenwich Capital Markets, Morgan
Stanley Dean Witter, Nomura Securities (co-managers)
Structure: o The Class A-1 Certificates will be fixed rate 2a-7
securities.
o The Class A-2 through A-7 Certificates will be
fixed rate Planned Amortization Class ("PAC")
Certificates. The PAC classes will pay principal
according to the amortization schedule specified
below.
o The Class A-8 Certificates will be floating rate
certificates and will be a companion class to the
PAC classes in terms of principal repayment.
o The Class A-1 through A-8 Certificates will be
supported by the Fixed Rate Home Equity Loans and
the Group I Adjustable Rate Home Equity Loans
(Group I Collateral).
o The Class A-9 Floating Rate Certificates will be
triple-A rated and will not be a companion class.
o The Class A-9 Certificates will be supported by
the Group II Adjustable Rate Home Equity Loans
(Group II Collateral).
o All of the Class A Certificates will be rated
triple-A.
o The Class B-1F Certificates will be fixed-rate,
subordinate certificates and will not be a PAC
class. The Class B-1F Certificates will provide
credit support to the triple-A Fixed and Floating
Rate Certificates. The Class B-1F Certificates
will be supported by both Group I and Group II
Collateral.
PAC Bands: PAC prepayment bands:
FRMs - 125% FRM PPC to 175% FRM PPC
ARMs - 95% ARM PPC to 130% ARM PPC
Pricing Prepayment Speed: Fixed Rate Collateral
130% of the prepayment assumption (the "FRM PPC")
will be applied to the Fixed Rate Collateral for
pricing purposes. 100% PPC for the Fixed Rate
Collateral describes prepayments starting at 4.0%
CPR in month 1, increasing by 1.4545% CPR per
month to 20% CPR in month 12, and remaining at 20%
CPR thereafter.
Adjustable Rate Collateral
100% of the prepayment assumption (the "ARM PPC")
will be applied to the Adjustable Rate Collateral
for pricing purposes. 100% PPC for the Adjustable
Rate Collateral describes prepayments starting at
4.0% CPR in month 1, increasing by 1.8235% CPR per
month to 35% CPR in month 18, and remaining at 35%
CPR thereafter.
[LOGO] Merrill Lynch 3
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Statistical Calculation Date Close of Business May 18, 1998.
Cut-Off Date Close of Business June 17, 1998.
Expected Pricing Date: June 9, 1998.
Expected Settlement: June 29, 1998 through DTC, Euroclear or CEDEL.
Accrued Interest: Class A-2 through Class A-7, Class A-10IO: 11
days (as of 6/18/98). (If swapped, Class A-2
and Class A-3 would have the following
features: Dated Date - 6/29/98, Accrued
Interest Days - 0, Delay Days - 0, Day Count
Convention - 30/360.)
Class A-1, Class A-8, Class A-9: 0 days
(as of 6/29/98).
Distribution Dates: The 15th of each month, beginning July, 1998.
Optional Call: 10% Clean-up call (10% of original aggregate
Group I and Group II Home Equity Loan
balances).
Step-up Coupon: The Pass-Through Rate for the Class A-8
Certificates will equal (i) for any Payment
Date prior to the Clean-Up Call Date 1 Mo.
LIBOR plus 0.25% per annum, and (ii) for any
Payment Date thereafter, 1 Mo. LIBOR plus
0.30% per annum, subject to the Group I
Available Funds Cap.
The Pass-Through Rate for the Class A-9
Certificates will equal (i) for any Payment
Date prior to the Clean-Up Call Date 1 Mo.
LIBOR plus [ ]% per annum, and (ii) for any
Payment Date thereafter, 1 Mo. LIBOR plus 2X
[ ]% per annum, subject to the Group II
Available Funds Cap.
Available Funds Cap: Group I Available Funds Cap
The Class A-8 Certificates will be subject to
an available funds cap equal to the weighted
average coupon rate of the aggregate Fixed
and Group I Adjustable Rate Home Equity Loans
less the sum of: (a) an amount, expressed as
an annual percentage rate across the
aggregate Group I Collateral pool balance,
equal to the sum of the Servicing Fee, the
Trustee Fee, the Certificate Insurer Fee, in
each case due with respect to the related
period and (b) commencing with the 7th
Payment Date, a 0.50% credit enhancement
carve out and (c) for the first 30 Payment
Dates only the product of (i) [6.50]% per
annum and (ii) the Class A-10 IO Notional
Principal Amount divided by the aggregate
Group I pool balance. In addition, the
Classes A-5 through A-7 may be subject to the
Group I Available Funds Cap.
Group II Available Funds Cap
The Class A-9 Certificates will be subject to
an available funds cap equal to the weighted
average coupon rate of the Group II
Adjustable Rate Home Equity Loans less the
sum of: (a) an amount, expressed as an annual
percentage rate across the aggregate Group II
Collateral pool balance, equal to the sum of
the Servicing Fee, the Trustee Fee, the
Certificate Insurer Fee, in each case due
with respect to the related period, and (b)
commencing with the 7th Payment Date, a 0.50%
credit enhancement carve out.
Class B Available Funds Cap
The Pass-Through Rate for the Class B-1F
Certificates will equal the lesser of (a) the
Pass-Through Rate for such Class, and (b) the
lesser of the Group I and Group II Available
Funds Cap.
Tax Status: REMIC
ERISA Eligibility: The Class A certificates are ERISA eligible.
SMMEA Eligibility: None of the offered certificates are SMMEA
eligible.
IO: The Class A-10 IO Certificates do not have a
Certificate Principal Balance but will accrue
interest on their Notional Amount. The
"Notional Amount" of the Class A-10 IO
Certificates will equal (a) on any Payment
Date on or prior to the 30th Payment Date,
the aggregate Certificate Principal Balance
of the Class A-6 and A-7 Certificates and (b)
after the 30th Payment Date, zero.
[LOGO] Merrill Lynch 4
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
PAC Schedule
<TABLE>
<CAPTION>
Principal Balance
--------------- -------------- ---------------- --------------- -------------- ---------------
Period Class A-2 Class A-3 Class A-4 Class A-5 Class A-6 Class A-7
--------------- -------------- ---------------- --------------- -------------- ---------------
<S> <C> <C> <C> <C> <C> <C>
0 425,000,000.00 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
1 425,000,000.00 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
2 425,000,000.00 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
3 425,000,000.00 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
4 425,000,000.00 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
5 425,000,000.00 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
6 425,000,000.00 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
7 391,928,341.31 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
8 356,818,025.31 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
9 319,670,185.61 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
10 283,147,996.41 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
11 247,101,022.87 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
12 211,170,687.65 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
13 175,693,395.28 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
14 143,377,613.24 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
15 112,072,621.72 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
16 81,583,090.35 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
17 51,887,516.45 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
18 22,964,975.16 275,000,000.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
19 0.00 269,795,103.52 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
20 0.00 242,358,085.04 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
21 0.00 215,634,634.67 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
22 0.00 189,605,984.24 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
23 0.00 164,270,002.00 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
24 0.00 139,591,783.66 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
25 0.00 115,554,073.93 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
26 0.00 92,140,078.15 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
27 0.00 69,333,449.73 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
28 0.00 47,118,277.92 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
29 0.00 25,479,075.93 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
30 0.00 4,400,769.38 185,000,000.00 90,000,000.00 97,000,000.00 100,600,000.00
31 0.00 0.00 168,868,685.06 90,000,000.00 97,000,000.00 100,600,000.00
32 0.00 0.00 148,868,540.04 90,000,000.00 97,000,000.00 100,600,000.00
33 0.00 0.00 129,386,431.03 90,000,000.00 97,000,000.00 100,600,000.00
34 0.00 0.00 110,413,466.24 90,000,000.00 97,000,000.00 100,600,000.00
35 0.00 0.00 91,931,543.75 90,000,000.00 97,000,000.00 100,600,000.00
36 0.00 0.00 74,078,082.26 90,000,000.00 97,000,000.00 100,600,000.00
37 0.00 0.00 74,078,082.26 90,000,000.00 97,000,000.00 100,600,000.00
38 0.00 0.00 74,078,082.26 90,000,000.00 97,000,000.00 100,600,000.00
39 0.00 0.00 64,092,163.67 90,000,000.00 97,000,000.00 100,600,000.00
40 0.00 0.00 50,174,945.22 90,000,000.00 97,000,000.00 100,600,000.00
41 0.00 0.00 37,197,955.18 90,000,000.00 97,000,000.00 100,600,000.00
42 0.00 0.00 24,715,174.33 90,000,000.00 97,000,000.00 100,600,000.00
43 0.00 0.00 12,707,588.81 90,000,000.00 97,000,000.00 100,600,000.00
44 0.00 0.00 1,156,927.64 90,000,000.00 97,000,000.00 100,600,000.00
45 0.00 0.00 0.00 80,045,633.13 97,000,000.00 100,600,000.00
46 0.00 0.00 0.00 69,356,832.47 97,000,000.00 100,600,000.00
47 0.00 0.00 0.00 59,074,310.49 97,000,000.00 100,600,000.00
48 0.00 0.00 0.00 49,182,483.50 97,000,000.00 100,600,000.00
49 0.00 0.00 0.00 39,666,374.26 97,000,000.00 100,600,000.00
50 0.00 0.00 0.00 30,511,587.88 97,000,000.00 100,600,000.00
51 0.00 0.00 0.00 21,704,288.78 97,000,000.00 100,600,000.00
52 0.00 0.00 0.00 13,231,178.51 97,000,000.00 100,600,000.00
53 0.00 0.00 0.00 5,079,474.53 97,000,000.00 100,600,000.00
54 0.00 0.00 0.00 0.00 94,236,889.82 100,600,000.00
55 0.00 0.00 0.00 0.00 86,691,613.31 100,600,000.00
56 0.00 0.00 0.00 0.00 79,432,291.11 100,600,000.00
57 0.00 0.00 0.00 0.00 72,448,008.51 100,600,000.00
58 0.00 0.00 0.00 0.00 65,732,849.15 100,600,000.00
59 0.00 0.00 0.00 0.00 59,271,866.10 100,600,000.00
60 0.00 0.00 0.00 0.00 53,055,374.34 100,600,000.00
</TABLE>
[LOGO] Merrill Lynch 5
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
PAC Schedule
<TABLE>
<CAPTION>
Principal Balance
--------------------------------------------------------------------------------------------
Period Class A-2 Class A-3 Class A-4 Class A-5 Class A-6 Class A-7
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
61 0.00 0.00 0.00 0.00 47,074,062.38 100,600,000.00
62 0.00 0.00 0.00 0.00 41,318,977.59 100,600,000.00
63 0.00 0.00 0.00 0.00 35,781,512.13 100,600,000.00
64 0.00 0.00 0.00 0.00 30,453,389.47 100,600,000.00
65 0.00 0.00 0.00 0.00 25,326,651.39 100,600,000.00
66 0.00 0.00 0.00 0.00 20,393,645.58 100,600,000.00
67 0.00 0.00 0.00 0.00 15,647,013.66 100,600,000.00
68 0.00 0.00 0.00 0.00 11,079,679.71 100,600,000.00
69 0.00 0.00 0.00 0.00 6,684,839.28 100,600,000.00
70 0.00 0.00 0.00 0.00 2,455,948.79 100,600,000.00
71 0.00 0.00 0.00 0.00 0.00 98,986,715.37
72 0.00 0.00 0.00 0.00 0.00 95,071,087.14
73 0.00 0.00 0.00 0.00 0.00 91,303,243.80
74 0.00 0.00 0.00 0.00 0.00 87,677,587.68
75 0.00 0.00 0.00 0.00 0.00 84,188,735.06
76 0.00 0.00 0.00 0.00 0.00 80,831,507.91
77 0.00 0.00 0.00 0.00 0.00 77,600,925.89
78 0.00 0.00 0.00 0.00 0.00 74,492,198.72
79 0.00 0.00 0.00 0.00 0.00 71,500,718.81
80 0.00 0.00 0.00 0.00 0.00 68,622,054.21
81 0.00 0.00 0.00 0.00 0.00 65,851,941.82
82 0.00 0.00 0.00 0.00 0.00 63,186,280.88
83 0.00 0.00 0.00 0.00 0.00 60,621,126.68
84 0.00 0.00 0.00 0.00 0.00 58,075,880.32
85 0.00 0.00 0.00 0.00 0.00 55,380,897.81
86 0.00 0.00 0.00 0.00 0.00 52,787,401.52
87 0.00 0.00 0.00 0.00 0.00 50,291,564.37
88 0.00 0.00 0.00 0.00 0.00 47,889,704.57
89 0.00 0.00 0.00 0.00 0.00 45,578,280.01
90 0.00 0.00 0.00 0.00 0.00 43,353,882.94
91 0.00 0.00 0.00 0.00 0.00 41,213,234.80
92 0.00 0.00 0.00 0.00 0.00 39,153,181.25
93 0.00 0.00 0.00 0.00 0.00 37,170,687.43
94 0.00 0.00 0.00 0.00 0.00 35,262,833.38
95 0.00 0.00 0.00 0.00 0.00 33,426,809.66
96 0.00 0.00 0.00 0.00 0.00 31,659,913.09
97 0.00 0.00 0.00 0.00 0.00 29,959,542.71
98 0.00 0.00 0.00 0.00 0.00 28,323,195.89
99 0.00 0.00 0.00 0.00 0.00 26,748,464.55
100 0.00 0.00 0.00 0.00 0.00 25,233,031.56
101 0.00 0.00 0.00 0.00 0.00 23,774,667.29
102 0.00 0.00 0.00 0.00 0.00 22,371,226.25
103 0.00 0.00 0.00 0.00 0.00 21,020,643.91
104 0.00 0.00 0.00 0.00 0.00 19,720,933.60
105 0.00 0.00 0.00 0.00 0.00 18,470,183.57
106 0.00 0.00 0.00 0.00 0.00 17,266,554.10
107 0.00 0.00 0.00 0.00 0.00 16,108,274.82
108 0.00 0.00 0.00 0.00 0.00 14,993,642.03
109 0.00 0.00 0.00 0.00 0.00 13,921,016.19
110 0.00 0.00 0.00 0.00 0.00 12,888,819.49
111 0.00 0.00 0.00 0.00 0.00 11,895,533.49
112 0.00 0.00 0.00 0.00 0.00 10,939,696.88
113 0.00 0.00 0.00 0.00 0.00 10,019,903.32
114 0.00 0.00 0.00 0.00 0.00 9,134,799.36
115 0.00 0.00 0.00 0.00 0.00 8,288,748.78
116 0.00 0.00 0.00 0.00 0.00 7,474,477.27
117 0.00 0.00 0.00 0.00 0.00 6,690,794.91
118 0.00 0.00 0.00 0.00 0.00 5,936,556.40
119 0.00 0.00 0.00 0.00 0.00 5,210,659.40
120 0.00 0.00 0.00 0.00 0.00 4,512,042.89
121 0.00 0.00 0.00 0.00 0.00 3,839,685.62
122 0.00 0.00 0.00 0.00 0.00 3,192,604.60
123 0.00 0.00 0.00 0.00 0.00 2,569,853.68
124 0.00 0.00 0.00 0.00 0.00 1,970,522.13
125 0.00 0.00 0.00 0.00 0.00 1,393,733.35
126 0.00 0.00 0.00 0.00 0.00 838,643.53
127 0.00 0.00 0.00 0.00 0.00 304,440.47
128 0.00 0.00 0.00 0.00 0.00 0.00
</TABLE>
[LOGO] Merrill Lynch 6
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Credit Enhancement for Fixed and Floating Rate Certificates
o Class A1-A9 Credit Enhancement:
1. Excess cash;
2. Overcollateralization building up to a requirement of 1.45% of the
aggregate original loan balance;
3. Subordination of Class B-1F certificates, totaling 4.0% of the aggregate
original loan balance;
4. MBIA surety wrap.
o Class B-1F Credit Enhancement:
1. Excess cash;
2. Overcollateralization building up to a requirement of 1.45% of the
aggregate original loan balance.
(1) Excess Cash
Excess cash will equal the difference between the interest payments received
on the aggregate home equity loans net of the Servicing Fee, Certificate
Insurer Fee, Trustee Fee, and Certificate Interest.
(2) Overcollateralization
1. Before the Stepdown Date, overcollateralization initially builds to
1.45% of the aggregate original loan balance of the Group I and Group
II Collateral (subject to the MBIA performance triggers);
2. On and after the Stepdown Date, and so long as no trigger event is in
effect, the overcollateralization will step down monthly to 3.1175%
of the outstanding aggregate loan balance of the Group I and Group II
Collateral;
3. The overcollateralization step down will be subject to a floor of
0.50% of the aggregate original loan balance of Group I and Group II
(subject to MBIA trigger events);
4. There will be no funding of the overcollateralization for the first 6
months of the transaction (until January, 1999).
(3) Subordination
There will be a Class B Certificate in the amount of 4.0% of the initial
principal balance of the Group I and Group II combined collateral to provide
credit enhancement to all the Class A Certificates.
(4) Surety Wrap
The Class A Certificates will have the benefit of an insurance guarantee with
respect to the timely payment of interest and the ultimate payment of
principal issued by MBIA.
[LOGO] Merrill Lynch 7
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Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
[LOGO] Merrill Lynch 8
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Interest Cashflow Priority
o Interest Collections (net of Servicing, Certificate Insurer, and Trustee
Fees) will be allocated in the following priority:
Group I
1. Current Interest and Carry-Forward Interest to the Class A-1 through
A-8 Certificates
2. Current Interest to the Class B Certificates (pro rate for the Group I
Collateral)
3. To the overcollateralization to build up to the target amount
4. To Monthly Excess Cash Flow Amounts
Group II
1. Current Interest and Carry-Forward Interest to the Class A-9
Certificates
2. Current Interest to the Class B Certificates (pro rata for the Group II
Collateral)
3. To the overcollateralization to build up to the target amount
4. To Monthly Excess Cash Flow Amounts
Principal Cashflow Priority
o Principal Collections (including monthly excess interest to build
overcollateralization) will be allocated in the following priority prior
to the Stepdown Date (July 2001) if no trigger event is in effect:
Group I
1. Determine the Class A principal distribution amount for the Group I
Certificates per the Subordination Test (as described below).
2. First to the Class A-1 (2a-7 eligible class) until retired;
3. Then sequentially to the Class A PAC bonds to their scheduled balance;
4. Remaining principal to Class A-8 floater companion until retired;
5. Remaining principal sequentially to the Class A PAC bonds until retired;
6. To the extent that Group I Class A principal distribution amount is
met, any remaining principal cash flows (including excess interest)
are available to meet any deficiency in achieving the Group II Class
A principal distribution amount until it is achieved.
7. Monthly Excess Cash Flow Amounts.
Group II
1. Determine the Class A principal distribution amount for the Group II
Certificates per the Subordination Test (as described below).
2. First to the Class A-9 floater until retired.
3. To the extent that Group II Class A principal distribution amount is
met, any remaining principal cash flows (including excess interest)
are available to meet any deficiency in achieving the Group I Class A
principal distribution amount until it is achieved.
4. Monthly Excess Cash Flow Amounts.
Class B-1F Certificate
1. Once all of the Group I and Group II Senior Certificates have been
retired, remaining principal to the Class B-1F Certificate until
retired.
[LOGO] Merrill Lynch 9
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
o Principal Collections (including monthly excess interest to maintain
overcollateralization and cover losses) will be allocated in the following
priority on and after the Stepdown Date (July 2001) if no trigger event is
in effect:
Group I
1. Determine the Class A principal distribution amount for the Group I
Certificates per the Subordination Test (as described below).
2. First sequentially to the Class A PAC bonds to their scheduled balance;
3. Remaining principal to Class A-8 floater companion until retired;
4. Remaining principal sequentially to the Class A PAC bonds until retired;
5. To the extent that Group I Class A principal distribution amount is met,
any remaining principal cash flows (including excess interest) are
available to meet any deficiency in achieving the Group II Class A
principal distribution amount until it is achieved.
6. The Class B-1F principal distribution amount until retired.
7. Monthly Excess Cash Flow Amounts.
Group II
1. Determine the Class A principal distribution for the Group II
Certificates per the Subordination Test (as described below).
2. First to the Class A-9 floater until retired.
3. To the extent that Group II Class A principal distribution amount is
met, any remaining principal cash flows (including excess interest)
are available to meet any deficiency in achieving the Group I Class A
principal distribution amount until it is achieved.
4. The Class B-1F principal distribution amount until retired.
5. Monthly Excess Cash Flow Amounts.
[LOGO] Merrill Lynch 10
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Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
o Collections of Principal (including monthly excess interest) on and
after the stepdown date (July 2001), and if no trigger event is in effect
will be allocated in the following priority:
Pay Class A bonds and Class B-1F pro-rata in accordance with enhancement
targets, equal to 2.15 times the initial enhancement percentage for
each class:
Targeted % of Pool Target Credit Enhancement
------------------ -------------------------
Class A 88.2825% 11.7175%
Class B-1F 8.6000% 3.1175%
Overcollateralization 3.1175%
--------
100.0000%
Principal Cashflow Priority (Class B-1F Subordinated Certificates):
o The Class B Certificates will not receive payments of principal until
the Stepdown Date, unless all the Class A Certificates have been retired.
Subordination Test (To determine Triple A Principal Distribution Amount):
o Before the Stepdown Date, the Class A Certificates receive 100% of the
collateral principal revenues and the excess cash to build to an OC
target of 1.45% (based on the aggregate original balance). After the
Stepdown Date, the Class A Certificates receive collateral principal to
maintain 11.7175% credit enhancement.
Step Down Date:
o The later of (a) the July 2001 Payment Date and (b) the first Payment
Date on which the Senior Enhancement Percentage (i.e., the sum of the
Subordinated Certificates and OC amount divided by the aggregate of Group
I and Group II) is at least 11.7175%.
Senior Enhancement Percentage:
o The percentage obtained by dividing (x) the sum of (i) the aggregate
Certificate Principal Balance of the Subordinated Certificates and (ii)
the Overcollateralization Amount by (y) the aggregate Loan Balance of the
Home Equity Loans as of the last day of the related Remittance Period.
Application of Monthly Excess Cashflow Amounts:
o Monthly Excess Cash Flow Amounts which equal the sum of Monthly Excess
Interest Amounts and Overcollateralization Release Amounts will be
allocated in the following priority:
1. Class A Interest Carry Forward Amount
2. Extra Principal Distribution Amount
3. Class B Interest Carry Forward Amount
4. Unpaid Class B Realized Loss Amortization Amounts
5. Servicer for any unreimbursed Delinquency Advances or Servicing Advances
6. Class C Certificates
7. Class R Certificates
Note: Interest will not accrue or be payable on any written down amounts with
respect to the Class B-1F Certificates.
[LOGO] Merrill Lynch 11
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Delinquency Trigger:
o After the Stepdown Date, a Delinquency Trigger Event has occurred if on
any Payment Date 65.25% of the 3-month rolling average 60+ Day
Delinquencies (including Bankruptcies, Foreclosures and REO properties)
equals or exceeds the Senior Specified Enhancement Percentage (11.7175% =
2.15 X 5.45%); i.e., when the 3-month rolling average of 60+ Day
Delinquencies equals or exceeds 17.95% (11.7175%/0.6525%).
o If the 3 Month Rolling Average of 60+ Day Delinquencies equals or
exceeds 17.95%, Class A will receive 100% of all principal until the
credit enhancement equals or exceeds 65.25% of the 3 Month Rolling
Average of 60+ Day Delinquencies. During this time, overcollateralization
will not be released until the credit enhancement target is achieved.
Cumulative Realized Loss Trigger Event:
o A Cumulative Realized Loss Trigger Event occurs on any date of
determination if the amount of Cumulative Realized Losses expressed as a
percentage of the original aggregate loan balance of Group I and Group II
equals or exceeds the following amounts:
Date Percentages
July 1998- June 2000 1.05%
July 2000- June 2001 1.80%
July 2001- June 2002 2.40%
July 2002- June 2003 2.85%
July 2003 and thereafter 3.00%
o Upon the occurrence and during the continuance of a Cumulative Realized
Loss Trigger Event, the overcollateralization amount shall increase to
2.40% of the aggregate original balance of the Group I and Group II
Collateral.
[LOGO] Merrill Lynch 12
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
TO MATURITY
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
-----------
Scenario 1 2 3 4 5 6 7 8
Fixed Prepay PPC 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200%
ARM Prepay PPC 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175%
Class A-1
Avg. Life 2.24 0.60 0.43 0.33 0.28 0.25 0.23 0.20
Start Prin. 07/98 07/98 07/98 07/98 07/98 07/98 07/98 07/98
End Prin. 04/03 06/99 03/99 01/99 12/98 12/98 11/98 11/98
Window (mos.) 58 12 9 7 6 6 5 5
Class A-2
Avg. Life 10.89 2.76 1.66 1.18 1.01 1.01 1.01 0.99
Start Prin. 04/03 06/99 03/99 01/99 01/99 01/99 01/99 01/99
End Prin. 03/13 03/03 04/01 05/00 01/00 01/00 01/00 12/99
Window (mos.) 120 46 26 17 13 13 13 12
Class A-3
Avg. Life 14.71 6.26 3.65 2.47 2.02 2.02 2.02 1.77
Start Prin. 03/13 03/03 04/01 05/00 01/00 01/00 01/00 12/99
End Prin. 03/13 05/06 02/03 08/01 01/01 01/01 12/00 08/00
Window (mos.) 0 39 23 16 13 13 12 9
Class A-4
Avg. Life 14.74 9.23 5.45 3.65 3.02 3.02 2.97 2.48
Start Prin. 03/13 05/06 02/03 08/01 01/01 01/01 12/00 08/00
End Prin. 11/13 04/09 11/04 10/02 03/02 03/02 02/02 05/01
Window (mos.) 9 36 22 15 15 15 15 10
Class A-5
Avg. Life 16.96 11.60 6.97 4.65 4.05 4.05 4.01 3.35
Start Prin. 11/13 04/09 11/04 10/02 03/02 03/02 02/02 05/01
End Prin. 11/16 12/10 01/06 07/03 12/02 12/02 12/02 04/02
Window (mos.) 37 21 15 10 10 10 11 12
Class A-6
Avg. Life 19.76 13.50 8.27 5.53 5.10 5.10 5.09 4.34
Start Prin. 11/16 12/10 01/06 07/03 12/02 12/02 12/02 04/02
End Prin. 11/19 01/13 07/07 07/04 05/04 05/04 05/04 07/03
Window (mos.) 37 26 19 13 18 18 18 16
------------
</TABLE>
[LOGO] Merrill Lynch 13
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
TO MATURITY
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
---------
Scenario 1 2 3 4 5 6 7 8
Fixed Prepay PPC 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200%
ARM Prepay PPC 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175%
Class A-7
Avg. Life 23.16 14.71 10.00 7.53 7.51 7.51 7.66 6.54
Start Prin. 11/19 01/13 07/07 07/04 05/04 05/04 05/04 07/03
End Prin. 03/23 03/13 07/09 02/09 02/09 02/09 12/09 04/08
Window (mos.) 41 3 25 56 58 58 68 58
Class A-8
Avg. Life 27.46 18.84 14.56 10.43 6.48 3.59 0.96 0.68
Start Prin. 03/23 03/13 07/09 10/04 12/98 12/98 11/98 11/98
End Prin. 02/28 03/27 06/22 02/16 03/13 01/12 08/00 09/99
Window (mos.) 60 169 156 137 172 158 22 11
Class A-9
Avg. Life 21.22 8.93 5.05 3.43 2.58 2.04 1.67 1.39
Start Prin. 07/98 07/98 07/98 07/98 07/98 07/98 07/98 07/98
End Prin. 02/28 03/27 06/22 02/16 03/13 01/12 12/09 04/08
Window (mos.) 352 345 288 212 177 163 138 118
Class B-1F
Avg. Life 22.53 13.98 9.60 6.61 5.08 4.41 3.91 3.61
Start Prin. 03/13 02/07 06/03 11/01 07/01 07/01 07/01 07/01
End Prin. 05/27 11/20 05/13 01/11 02/08 09/06 05/05 05/04
Window (mos.) 171 166 120 111 80 63 47 35
---------
</TABLE>
[LOGO] Merrill Lynch 14
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
TO CALL
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
--------
Scenario 1 2 3 4 5 6 7 8
Fixed Prepay PPC 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200%
ARM Prepay PPC 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175%
Class A-5
Avg. Life 16.96 11.60 6.97 4.65 4.05 4.05 4.01 3.35
Start Prin. 11/13 04/09 11/04 10/02 03/02 03/02 02/02 05/01
End Prin. 11/16 12/10 01/06 07/03 12/02 12/02 12/02 04/02
Window (mos.) 37 21 15 10 10 10 11 12
Class A-6
Avg. Life 19.76 13.50 8.27 5.53 5.10 5.10 4.89 4.17
Start Prin. 11/16 12/10 01/06 07/03 12/02 12/02 12/02 04/02
End Prin. 11/19 01/13 07/07 07/04 05/04 05/04 07/03 10/02
Window (mos.) 37 26 19 13 18 18 8 7
Class A-7
Avg. Life 23.16 14.71 10.00 7.47 6.82 6.04 5.04 4.29
Start Prin. 11/19 01/13 07/07 07/04 05/04 05/04 07/03 10/02
End Prin. 03/23 03/13 07/09 11/07 08/05 07/04 07/03 10/02
Window (mos.) 41 3 25 41 16 3 1 1
Class A-8
Avg. Life 26.89 16.16 13.17 8.66 5.18 2.82 0.96 0.68
Start Prin. 03/23 03/13 07/09 10/04 12/98 12/98 11/98 11/98
End Prin. 01/26 06/15 03/12 11/07 08/05 07/04 08/00 09/99
Window (mos.) 35 28 33 38 81 68 22 11
Class A-9
Avg. Life 20.99 8.10 4.83 3.28 2.47 1.98 1.63 1.36
Start Prin. 07/98 07/98 07/98 07/98 07/98 07/98 07/98 07/98
End Prin. 01/26 06/15 03/12 11/07 08/05 07/04 07/03 10/02
Window (mos.) 331 204 165 113 86 73 61 52
Class B-1F
Avg. Life 22.42 13.58 9.46 6.38 4.90 4.26 3.78 3.50
Start Prin. 03/13 02/07 06/03 11/01 07/01 07/01 07/01 07/01
End Prin. 01/26 06/15 03/12 11/07 08/05 07/04 07/03 10/02
Window (mos.) 155 101 106 73 50 37 25 16
-----------
</TABLE>
[LOGO] Merrill Lynch 15
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-1
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 67 0 0 0 0 0 0 0
06/15/00 51 0 0 0 0 0 0 0
06/15/01 35 0 0 0 0 0 0 0
06/15/02 16 0 0 0 0 0 0 0
06/15/03 0 0 0 0 0 0 0 0
06/15/04 0 0 0 0 0 0 0 0
06/15/05 0 0 0 0 0 0 0 0
06/15/06 0 0 0 0 0 0 0 0
06/15/07 0 0 0 0 0 0 0 0
06/15/08 0 0 0 0 0 0 0 0
06/15/09 0 0 0 0 0 0 0 0
06/15/10 0 0 0 0 0 0 0 0
06/15/11 0 0 0 0 0 0 0 0
06/15/12 0 0 0 0 0 0 0 0
06/15/13 0 0 0 0 0 0 0 0
06/15/14 0 0 0 0 0 0 0 0
06/15/15 0 0 0 0 0 0 0 0
06/15/16 0 0 0 0 0 0 0 0
06/15/17 0 0 0 0 0 0 0 0
06/15/18 0 0 0 0 0 0 0 0
06/15/19 0 0 0 0 0 0 0 0
06/15/20 0 0 0 0 0 0 0 0
06/15/21 0 0 0 0 0 0 0 0
06/15/22 0 0 0 0 0 0 0 0
06/15/23 0 0 0 0 0 0 0 0
06/15/24 0 0 0 0 0 0 0 0
06/15/25 0 0 0 0 0 0 0 0
06/15/26 0 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 2.24 0.60 0.43 0.33 0.28 0.25 0.23 0.20
</TABLE>
[LOGO] Merrill Lynch 16
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-2
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 99 82 62 50 50 50 50
06/15/00 100 69 33 0 0 0 0 0
06/15/01 100 43 0 0 0 0 0 0
06/15/02 100 17 0 0 0 0 0 0
06/15/03 99 0 0 0 0 0 0 0
06/15/04 93 0 0 0 0 0 0 0
06/15/05 86 0 0 0 0 0 0 0
06/15/06 79 0 0 0 0 0 0 0
06/15/07 71 0 0 0 0 0 0 0
06/15/08 62 0 0 0 0 0 0 0
06/15/09 53 0 0 0 0 0 0 0
06/15/10 43 0 0 0 0 0 0 0
06/15/11 32 0 0 0 0 0 0 0
06/15/12 19 0 0 0 0 0 0 0
06/15/13 0 0 0 0 0 0 0 0
06/15/14 0 0 0 0 0 0 0 0
06/15/15 0 0 0 0 0 0 0 0
06/15/16 0 0 0 0 0 0 0 0
06/15/17 0 0 0 0 0 0 0 0
06/15/18 0 0 0 0 0 0 0 0
06/15/19 0 0 0 0 0 0 0 0
06/15/20 0 0 0 0 0 0 0 0
06/15/21 0 0 0 0 0 0 0 0
06/15/22 0 0 0 0 0 0 0 0
06/15/23 0 0 0 0 0 0 0 0
06/15/24 0 0 0 0 0 0 0 0
06/15/25 0 0 0 0 0 0 0 0
06/15/26 0 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 10.89 2.76 1.66 1.18 1.01 1.01 1.01 0.99
</TABLE>
[LOGO] Merrill Lynch 17
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-3
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 100 100 100 100 100 100 100
06/15/00 100 100 100 90 51 51 51 17
06/15/01 100 100 86 7 0 0 0 0
06/15/02 100 100 30 0 0 0 0 0
06/15/03 100 91 0 0 0 0 0 0
06/15/04 100 57 0 0 0 0 0 0
06/15/05 100 26 0 0 0 0 0 0
06/15/06 100 0 0 0 0 0 0 0
06/15/07 100 0 0 0 0 0 0 0
06/15/08 100 0 0 0 0 0 0 0
06/15/09 100 0 0 0 0 0 0 0
06/15/10 100 0 0 0 0 0 0 0
06/15/11 100 0 0 0 0 0 0 0
06/15/12 100 0 0 0 0 0 0 0
06/15/13 0 0 0 0 0 0 0 0
06/15/14 0 0 0 0 0 0 0 0
06/15/15 0 0 0 0 0 0 0 0
06/15/16 0 0 0 0 0 0 0 0
06/15/17 0 0 0 0 0 0 0 0
06/15/18 0 0 0 0 0 0 0 0
06/15/19 0 0 0 0 0 0 0 0
06/15/20 0 0 0 0 0 0 0 0
06/15/21 0 0 0 0 0 0 0 0
06/15/22 0 0 0 0 0 0 0 0
06/15/23 0 0 0 0 0 0 0 0
06/15/24 0 0 0 0 0 0 0 0
06/15/25 0 0 0 0 0 0 0 0
06/15/26 0 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 14.71 6.26 3.65 2.47 2.02 2.02 2.02 1.77
</TABLE>
[LOGO] Merrill Lynch 18
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-4
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 100 100 100 100 100 100 100
06/15/00 100 100 100 100 100 100 100 100
06/15/01 100 100 100 100 40 40 35 0
06/15/02 100 100 100 20 0 0 0 0
06/15/03 100 100 74 0 0 0 0 0
06/15/04 100 100 20 0 0 0 0 0
06/15/05 100 100 0 0 0 0 0 0
06/15/06 100 95 0 0 0 0 0 0
06/15/07 100 56 0 0 0 0 0 0
06/15/08 100 23 0 0 0 0 0 0
06/15/09 100 0 0 0 0 0 0 0
06/15/10 100 0 0 0 0 0 0 0
06/15/11 100 0 0 0 0 0 0 0
06/15/12 100 0 0 0 0 0 0 0
06/15/13 5 0 0 0 0 0 0 0
06/15/14 0 0 0 0 0 0 0 0
06/15/15 0 0 0 0 0 0 0 0
06/15/16 0 0 0 0 0 0 0 0
06/15/17 0 0 0 0 0 0 0 0
06/15/18 0 0 0 0 0 0 0 0
06/15/19 0 0 0 0 0 0 0 0
06/15/20 0 0 0 0 0 0 0 0
06/15/21 0 0 0 0 0 0 0 0
06/15/22 0 0 0 0 0 0 0 0
06/15/23 0 0 0 0 0 0 0 0
06/15/24 0 0 0 0 0 0 0 0
06/15/25 0 0 0 0 0 0 0 0
06/15/26 0 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 14.74 9.23 5.45 3.65 3.02 3.02 2.97 2.48
</TABLE>
[LOGO] Merrill Lynch 19
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-5
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 100 100 100 100 100 100 100
06/15/00 100 100 100 100 100 100 100 100
06/15/01 100 100 100 100 100 100 100 69
06/15/02 100 100 100 100 55 55 49 0
06/15/03 100 100 100 5 0 0 0 0
06/15/04 100 100 100 0 0 0 0 0
06/15/05 100 100 46 0 0 0 0 0
06/15/06 100 100 0 0 0 0 0 0
06/15/07 100 100 0 0 0 0 0 0
06/15/08 100 100 0 0 0 0 0 0
06/15/09 100 85 0 0 0 0 0 0
06/15/10 100 26 0 0 0 0 0 0
06/15/11 100 0 0 0 0 0 0 0
06/15/12 100 0 0 0 0 0 0 0
06/15/13 100 0 0 0 0 0 0 0
06/15/14 81 0 0 0 0 0 0 0
06/15/15 50 0 0 0 0 0 0 0
06/15/16 15 0 0 0 0 0 0 0
06/15/17 0 0 0 0 0 0 0 0
06/15/18 0 0 0 0 0 0 0 0
06/15/19 0 0 0 0 0 0 0 0
06/15/20 0 0 0 0 0 0 0 0
06/15/21 0 0 0 0 0 0 0 0
06/15/22 0 0 0 0 0 0 0 0
06/15/23 0 0 0 0 0 0 0 0
06/15/24 0 0 0 0 0 0 0 0
06/15/25 0 0 0 0 0 0 0 0
06/15/26 0 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 16.96 11.60 6.97 4.65 4.05 4.05 4.01 3.35
</TABLE>
[LOGO] Merrill Lynch 20
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-6
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 100 100 100 100 100 100 100
06/15/00 100 100 100 100 100 100 100 100
06/15/01 100 100 100 100 100 100 100 100
06/15/02 100 100 100 100 100 100 100 78
06/15/03 100 100 100 100 55 55 53 2
06/15/04 100 100 100 5 0 0 0 0
06/15/05 100 100 100 0 0 0 0 0
06/15/06 100 100 67 0 0 0 0 0
06/15/07 100 100 2 0 0 0 0 0
06/15/08 100 100 0 0 0 0 0 0
06/15/09 100 100 0 0 0 0 0 0
06/15/10 100 100 0 0 0 0 0 0
06/15/11 100 73 0 0 0 0 0 0
06/15/12 100 26 0 0 0 0 0 0
06/15/13 100 0 0 0 0 0 0 0
06/15/14 100 0 0 0 0 0 0 0
06/15/15 100 0 0 0 0 0 0 0
06/15/16 100 0 0 0 0 0 0 0
06/15/17 78 0 0 0 0 0 0 0
06/15/18 39 0 0 0 0 0 0 0
06/15/19 9 0 0 0 0 0 0 0
06/15/20 0 0 0 0 0 0 0 0
06/15/21 0 0 0 0 0 0 0 0
06/15/22 0 0 0 0 0 0 0 0
06/15/23 0 0 0 0 0 0 0 0
06/15/24 0 0 0 0 0 0 0 0
06/15/25 0 0 0 0 0 0 0 0
06/15/26 0 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 19.76 13.50 8.27 5.53 5.10 5.10 5.09 4.34
</TABLE>
[LOGO] Merrill Lynch 21
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-7
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 100 100 100 100 100 100 100
06/15/00 100 100 100 100 100 100 100 100
06/15/01 100 100 100 100 100 100 100 100
06/15/02 100 100 100 100 100 100 100 100
06/15/03 100 100 100 100 100 100 100 100
06/15/04 100 100 100 100 95 95 95 59
06/15/05 100 100 100 58 58 58 59 31
06/15/06 100 100 100 31 31 31 34 14
06/15/07 100 100 100 15 15 15 18 5
06/15/08 100 100 49 4 4 4 8 0
06/15/09 100 100 3 0 0 0 2 0
06/15/10 100 100 0 0 0 0 0 0
06/15/11 100 100 0 0 0 0 0 0
06/15/12 100 100 0 0 0 0 0 0
06/15/13 100 0 0 0 0 0 0 0
06/15/14 100 0 0 0 0 0 0 0
06/15/15 100 0 0 0 0 0 0 0
06/15/16 100 0 0 0 0 0 0 0
06/15/17 100 0 0 0 0 0 0 0
06/15/18 100 0 0 0 0 0 0 0
06/15/19 100 0 0 0 0 0 0 0
06/15/20 84 0 0 0 0 0 0 0
06/15/21 56 0 0 0 0 0 0 0
06/15/22 25 0 0 0 0 0 0 0
06/15/23 0 0 0 0 0 0 0 0
06/15/24 0 0 0 0 0 0 0 0
06/15/25 0 0 0 0 0 0 0 0
06/15/26 0 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 23.16 14.71 10.00 7.53 7.51 7.51 7.66 6.54
</TABLE>
[LOGO] Merrill Lynch 22
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-8
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 100 100 100 92 69 42 15
06/15/00 100 100 100 100 87 47 2 0
06/15/01 100 100 100 100 86 42 0 0
06/15/02 100 100 100 100 70 34 0 0
06/15/03 100 100 100 100 61 29 0 0
06/15/04 100 100 100 100 50 23 0 0
06/15/05 100 100 100 88 40 18 0 0
06/15/06 100 100 100 74 33 16 0 0
06/15/07 100 100 100 61 27 12 0 0
06/15/08 100 100 100 50 21 10 0 0
06/15/09 100 100 100 40 15 7 0 0
06/15/10 100 100 85 31 10 3 0 0
06/15/11 100 100 70 23 6 1 0 0
06/15/12 100 100 58 17 3 0 0 0
06/15/13 100 72 24 4 0 0 0 0
06/15/14 100 63 19 2 0 0 0 0
06/15/15 100 55 15 1 0 0 0 0
06/15/16 100 47 11 0 0 0 0 0
06/15/17 100 40 8 0 0 0 0 0
06/15/18 100 33 5 0 0 0 0 0
06/15/19 100 28 4 0 0 0 0 0
06/15/20 100 24 2 0 0 0 0 0
06/15/21 100 20 1 0 0 0 0 0
06/15/22 100 16 0 0 0 0 0 0
06/15/23 96 12 0 0 0 0 0 0
06/15/24 80 9 0 0 0 0 0 0
06/15/25 62 5 0 0 0 0 0 0
06/15/26 41 2 0 0 0 0 0 0
06/15/27 18 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 27.46 18.84 14.56 10.43 6.48 3.59 0.96 0.68
</TABLE>
[LOGO] Merrill Lynch 23
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-9
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 98 93 87 82 76 71 65 60
06/15/00 97 84 71 59 48 37 28 20
06/15/01 97 75 57 42 29 18 10 4
06/15/02 96 68 46 31 20 12 7 3
06/15/03 96 61 37 22 13 7 3 1
06/15/04 95 55 31 16 8 4 1 0
06/15/05 94 49 25 12 5 2 1 0
06/15/06 93 44 20 9 3 1 0 0
06/15/07 92 39 17 6 2 1 0 0
06/15/08 91 36 14 5 1 0 0 0
06/15/09 90 32 11 3 1 0 0 0
06/15/10 88 29 9 2 0 0 0 0
06/15/11 87 26 7 2 0 0 0 0
06/15/12 85 23 6 1 0 0 0 0
06/15/13 78 21 5 1 0 0 0 0
06/15/14 76 18 4 0 0 0 0 0
06/15/15 74 16 3 0 0 0 0 0
06/15/16 71 14 2 0 0 0 0 0
06/15/17 68 12 2 0 0 0 0 0
06/15/18 65 11 1 0 0 0 0 0
06/15/19 61 9 1 0 0 0 0 0
06/15/20 57 8 0 0 0 0 0 0
06/15/21 52 7 0 0 0 0 0 0
06/15/22 46 5 0 0 0 0 0 0
06/15/23 40 4 0 0 0 0 0 0
06/15/24 33 3 0 0 0 0 0 0
06/15/25 26 2 0 0 0 0 0 0
06/15/26 17 1 0 0 0 0 0 0
06/15/27 7 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 21.22 8.93 5.05 3.43 2.58 2.04 1.67 1.39
</TABLE>
[LOGO] Merrill Lynch 24
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class B-1F
To Maturity
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
06/29/98 100 100 100 100 100 100 100 100
06/15/99 100 100 100 100 100 100 100 100
06/15/00 100 100 100 100 100 100 100 100
06/15/01 100 100 100 100 100 100 100 100
06/15/02 100 100 100 85 62 48 35 22
06/15/03 100 100 100 66 44 31 17 7
06/15/04 100 100 85 51 30 17 6 0
06/15/05 100 100 71 39 18 7 0 0
06/15/06 100 100 60 29 9 1 0 0
06/15/07 100 96 51 20 3 0 0 0
06/15/08 100 87 43 12 0 0 0 0
06/15/09 100 78 36 6 0 0 0 0
06/15/10 100 70 28 2 0 0 0 0
06/15/11 100 62 21 0 0 0 0 0
06/15/12 100 55 15 0 0 0 0 0
06/15/13 91 26 0 0 0 0 0 0
06/15/14 87 21 0 0 0 0 0 0
06/15/15 83 17 0 0 0 0 0 0
06/15/16 78 13 0 0 0 0 0 0
06/15/17 72 9 0 0 0 0 0 0
06/15/18 66 6 0 0 0 0 0 0
06/15/19 61 3 0 0 0 0 0 0
06/15/20 57 1 0 0 0 0 0 0
06/15/21 52 0 0 0 0 0 0 0
06/15/22 46 0 0 0 0 0 0 0
06/15/23 40 0 0 0 0 0 0 0
06/15/24 33 0 0 0 0 0 0 0
06/15/25 23 0 0 0 0 0 0 0
06/15/26 11 0 0 0 0 0 0 0
06/15/27 0 0 0 0 0 0 0 0
06/15/28 0 0 0 0 0 0 0 0
WAL (years) 22.53 13.98 9.60 6.61 5.08 4.41 3.91 3.61
</TABLE>
[LOGO] Merrill Lynch 25
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-8
To Call
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
6/29/98 100 100 100 100 100 100 100 100
6/15/99 100 100 100 100 92 69 42 15
6/15/00 100 100 100 100 87 47 2 0
6/15/01 100 100 100 100 86 42 0 0
6/15/02 100 100 100 100 70 34 0 0
6/15/03 100 100 100 100 61 29 0 0
6/15/04 100 100 100 100 50 23 0 0
6/15/05 100 100 100 88 40 0 0 0
6/15/06 100 100 100 74 0 0 0 0
6/15/07 100 100 100 61 0 0 0 0
6/15/08 100 100 100 0 0 0 0 0
6/15/09 100 100 100 0 0 0 0 0
6/15/10 100 100 85 0 0 0 0 0
6/15/11 100 100 70 0 0 0 0 0
6/15/12 100 100 0 0 0 0 0 0
6/15/13 100 72 0 0 0 0 0 0
6/15/14 100 63 0 0 0 0 0 0
6/15/15 100 0 0 0 0 0 0 0
6/15/16 100 0 0 0 0 0 0 0
6/15/17 100 0 0 0 0 0 0 0
6/15/18 100 0 0 0 0 0 0 0
6/15/19 100 0 0 0 0 0 0 0
6/15/20 100 0 0 0 0 0 0 0
6/15/21 100 0 0 0 0 0 0 0
6/15/22 100 0 0 0 0 0 0 0
6/15/23 96 0 0 0 0 0 0 0
6/15/24 80 0 0 0 0 0 0 0
6/15/25 62 0 0 0 0 0 0 0
6/15/26 0 0 0 0 0 0 0 0
6/15/27 0 0 0 0 0 0 0 0
6/15/28 0 0 0 0 0 0 0 0
WAL (years) 26.89 16.16 13.17 8.66 5.18 2.82 0.96 0.68
</TABLE>
[LOGO] Merrill Lynch 26
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Decrement Tables: Class A-9
To Call
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FRM 0% PPC 35% PPC 65% PPC 100% PPC 130% PPC 150% PPC 175% PPC 200% PPC
ARM 0% PPC 25% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
6/29/98 100 100 100 100 100 100 100 100
6/15/99 98 93 87 82 76 71 65 60
6/15/00 97 84 71 59 48 37 28 20
6/15/01 97 75 57 42 29 18 10 4
6/15/02 96 68 46 31 20 12 7 3
6/15/03 96 61 37 22 13 7 3 0
6/15/04 95 55 31 16 8 4 0 0
6/15/05 94 49 25 12 5 0 0 0
6/15/06 93 44 20 9 0 0 0 0
6/15/07 92 39 17 6 0 0 0 0
6/15/08 91 36 14 0 0 0 0 0
6/15/09 90 32 11 0 0 0 0 0
6/15/10 88 29 9 0 0 0 0 0
6/15/11 87 26 7 0 0 0 0 0
6/15/12 85 23 0 0 0 0 0 0
6/15/13 78 21 0 0 0 0 0 0
6/15/14 76 18 0 0 0 0 0 0
6/15/15 74 0 0 0 0 0 0 0
6/15/16 71 0 0 0 0 0 0 0
6/15/17 68 0 0 0 0 0 0 0
6/15/18 65 0 0 0 0 0 0 0
6/15/19 61 0 0 0 0 0 0 0
6/15/20 57 0 0 0 0 0 0 0
6/15/21 52 0 0 0 0 0 0 0
6/15/22 46 0 0 0 0 0 0 0
6/15/23 40 0 0 0 0 0 0 0
6/15/24 33 0 0 0 0 0 0 0
6/15/25 26 0 0 0 0 0 0 0
6/15/26 0 0 0 0 0 0 0 0
6/15/27 0 0 0 0 0 0 0 0
6/15/28 0 0 0 0 0 0 0 0
WAL (years) 20.99 8.1 4.83 3.28 2.47 1.98 1.63 1.36
</TABLE>
[LOGO] Merrill Lynch 27
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
-----------------------------------------
1 9.479 9.513
2 9.016 9.516
3 9.006 9.553
4 8.995 9.664
5 8.981 9.684
6 8.966 9.719
7 8.449 9.228
8 8.430 9.231
9 8.409 9.268
10 8.385 9.381
11 8.361 9.402
12 8.335 9.438
13 8.309 9.444
14 8.282 9.445
15 8.254 9.479
16 8.224 9.562
17 8.194 9.572
18 8.163 9.607
19 8.131 9.607
20 8.098 9.607
21 8.064 10.958
22 8.029 10.958
23 8.175 10.958
24 8.137 10.959
25 8.097 10.959
26 8.057 10.959
27 8.015 10.959
28 7.973 10.960
29 7.929 10.960
30 7.884 10.960
31 9.514 10.961
32 9.514 10.961
33 9.513 10.961
34 9.582 10.962
35 9.580 10.962
36 9.579 10.963
37 9.578 10.963
38 9.575 10.961
39 9.574 10.959
40 9.572 10.959
[LOGO] Merrill Lynch 28
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
-----------------------------------------
41 9.571 10.959
42 9.570 10.959
43 9.568 10.959
44 9.567 10.959
45 9.565 10.959
46 9.564 10.959
47 9.563 10.959
48 9.561 10.959
49 9.560 10.959
50 9.559 10.959
51 9.557 10.959
52 9.556 10.959
53 9.555 10.959
54 9.553 10.959
55 9.552 10.959
56 9.551 10.959
57 9.550 10.959
58 9.548 10.959
59 9.547 10.959
60 9.546 10.959
61 9.545 10.959
62 9.544 10.959
63 9.542 10.959
64 9.541 10.959
65 9.540 10.958
66 9.539 10.958
67 9.538 10.958
68 9.537 10.958
69 9.536 10.958
70 9.534 10.958
71 9.533 10.958
72 9.532 10.958
73 9.531 10.958
74 9.530 10.958
75 9.529 10.958
76 9.528 10.958
77 9.527 10.958
78 9.526 10.958
79 9.525 10.958
80 9.524 10.958
[LOGO] Merrill Lynch 29
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
-----------------------------------------
81 9.523 10.958
82 9.522 10.957
83 9.521 10.957
84 9.520 10.957
85 9.519 10.957
86 9.518 10.957
87 9.517 10.957
88 9.516 10.957
89 9.515 10.957
90 9.515 10.957
91 9.514 10.957
92 9.513 10.957
93 9.512 10.956
94 9.511 10.956
95 9.510 10.956
96 9.509 10.956
97 9.508 10.956
98 9.508 10.956
99 9.507 10.956
100 9.506 10.956
101 9.505 10.956
102 9.504 10.955
103 9.503 10.955
104 9.503 10.955
105 9.502 10.955
106 9.501 10.955
107 9.500 10.955
108 9.500 10.954
109 9.499 10.954
110 9.498 10.954
111 9.497 10.954
112 9.496 10.954
113 9.496 10.954
114 9.495 10.953
115 9.494 10.953
116 9.494 10.953
117 9.493 10.953
118 9.493 10.953
119 9.492 10.953
120 9.492 10.953
[LOGO] Merrill Lynch 30
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
-----------------------------------------
121 9.491 10.953
122 9.491 10.953
123 9.491 10.953
124 9.490 10.952
125 9.490 10.953
126 9.489 10.953
127 9.489 10.953
128 9.489 10.954
129 9.489 10.954
130 9.488 10.954
131 9.488 10.954
132 9.488 10.954
133 9.488 10.954
134 9.487 10.954
135 9.487 10.954
136 9.487 10.954
137 9.487 10.954
138 9.487 10.954
139 9.486 10.954
140 9.486 10.954
141 9.486 10.955
142 9.486 10.955
143 9.486 10.955
144 9.486 10.955
145 9.486 10.955
146 9.486 10.955
147 9.486 10.955
148 9.486 10.955
149 9.486 10.955
150 9.486 10.955
151 9.486 10.956
152 9.486 10.956
153 9.486 10.956
154 9.486 10.956
155 9.486 10.956
156 9.486 10.956
157 9.486 10.956
158 9.486 10.957
159 9.486 10.957
160 9.487 10.957
[LOGO] Merrill Lynch 31
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
-----------------------------------------
161 9.487 10.957
162 9.487 10.957
163 9.487 10.957
164 9.488 10.958
165 9.488 10.958
166 9.488 10.958
167 9.489 10.958
168 9.489 10.958
169 9.489 10.959
170 9.490 10.959
171 9.490 10.959
172 9.490 10.959
173 9.491 10.959
174 9.491 10.960
175 9.492 10.960
176 9.492 10.960
177 9.493 10.960
178 9.692 11.435
[LOGO] Merrill Lynch 32
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Collateral Description
o Collateral statistics are based on a representative pool as of close of
business 05/18/98 (the "Statistical Cut-off Date"). The actual statistics may
vary.
<TABLE>
<CAPTION>
ARM Portfolio (Group I and Group II) Fixed Rate Portfolio
------------------------------------ --------------------
<S> <C> <C>
Total Outstanding Balance: $278,626,756 $926,542,627
Number of Loans: 2,909 13,581
Average Remaining Balance: $95,781 (range: $11,997 - $430,000) $68,223 (range: $3,057 - $449,480)
Interest Rate Index: o 74.40% 2/28 6-month LIBOR o 100.00% fixed rate loans
o 14.79% 3/27 6-month LIBOR
o 10.76% 6-month LIBOR
o 0.05% 2/28 CMT
WA Gross Coupon: 10.054% (range: 6.875% - 15.300%) 10.468% (range: 6.750% - 17.990%)
WA Gross Margin /
WA Life Cap: 6.181% Margin / 16.310% Cap N/A
WA Periodic Interest Rate
Caps: 1.039% N/A
WA Months to Roll (Cut-Off
Date 5/18/98): 21.850 months N/A
Original Weighted Average
Term: 359.66 months (range: 119 - 360 months) 238.90 months (range: 24 -360 months)
Remaining Weighted Average
Term: 357.67 months (range: 119 - 360 months) 237.14 months (range: 21 - 360 months)
WA Seasoning: 1.99 months (range: 0 - 10) 1.76 months (range: 0 - 25 months)
WA Lien Position: 100% first 95.56% first / 4.44% second
WA Original LTV Ratio: 80.45% (range: 17.77% - 92.02%) 75.56% (range: 5.00% - 93.74%)
WA Original CLTV Ratio: N/A 77.72% (Range: 10.56% - 99.43%)
WA Debt to Income Ratio: 39.93% (range: 4.00% - 69.00%) 38.63% (range: 1.00% - 65.00%)
Credit Grade: 62.45% A, 23.09% B, 12.82% C, 1.64% D 65.02% A, 21.09% B, 11.77% C, 2.11% D
Documentation: 86.12% full doc, 6.74% limited doc 7.14% no doc 89.71% full doc, 6.64% limited doc 3.65% no doc
Property Type: 1.02% single family attached, 86.69%single 2.00% single family attached, 86.69% single
family detached, 4.33% 2-4 family, 4.15% PUD, family detached, 6.42% 2-4 family, 1.64% PUD,
1.37% Condo, 0.03% mixed use, 2.41% man. Housing 0.70% Condo, 0.26% mixed use, 2.29% man. Housing
Owner Occupancy: 95.54% owner occupied, 4.46% investor owned 95.33% owner occupied, 4.67% investor owned
Loan Purpose: 46.93% debt consolidation, 1.89% home 0.02% debt consolidation and HI, 2.01% home
improvement,28.20% purchase, 22.98% other improvement, 7.87% purchase, 66.91% debt
consolidation, 23.19% other
Geographic Distribution: MI (18.07%), CA (16.38%), FL (6.17%), IL MI (12.15%), OH (9.69%), IL (7.73%), NC (6.15%),
(5.64%), with all remaining states under 5.00% FL(5.84%), PA (5.70%), NY (5.60%), with all
remaining states under 5.00%
</TABLE>
[LOGO] Merrill Lynch 33
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
- -------------------------------------------------------------------------------
GROUP I HOME EQUITY LOANS
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Geographic Distribution of Mortgaged Properties - Fixed Rate Pool
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- ----- ----------------- ------------ ------------
<S> <C> <C> <C>
Alabama 1 $35,855 0.00%
Arizona 153 11,338,593 1.22
Arkansas 72 5,070,424 0.55
California 417 46,221,907 4.99
Colorado 125 10,642,491 1.15
Connecticut 125 11,983,321 1.29
Delaware 18 1,286,458 0.14
District of Columbia 59 4,442,842 0.48
Florida 860 54,132,223 5.84
Georgia 453 31,148,371 3.36
Hawaii 7 1,010,092 0.11
Idaho 40 2,693,711 0.29
Illinois 1,002 71,578,939 7.73
Indiana 712 37,499,174 4.05
Iowa 55 2,554,318 0.28
Kansas 55 2,979,447 0.32
Kentucky 274 15,348,516 1.66
Louisiana 134 8,113,229 0.88
Maine 19 1,245,164 0.13
Maryland 325 27,946,953 3.02
Massachusetts 268 24,305,418 2.62
Michigan 1,921 112,604,843 12.15
Minnesota 155 12,110,381 1.31
Mississippi 82 4,190,608 0.45
Missouri 278 14,981,134 1.62
Montana 13 937,064 0.10
Nebraska 41 2,844,876 0.31
Nevada 47 4,139,889 0.45
New Hampshire 36 2,837,005 0.31
New Jersey 329 32,656,839 3.52
New Mexico 112 8,130,464 0.88
New York 594 51,841,923 5.60
North Carolina 891 57,020,717 6.15
Ohio 1,400 89,782,499 9.69
Oklahoma 38 2,395,473 0.26
Oregon 71 6,134,088 0.66
</TABLE>
[LOGO] Merrill Lynch 34
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Geographic Distribution of Mortgaged Properties(continued) - Fixed Rate Pool
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- ----- ----------------- ------------ ------------
<S> <C> <C> <C>
Pennsylvania 884 $52,838,112 5.70%
Rhode Island 43 3,048,075 0.33
South Carolina 323 17,761,281 1.92
South Dakota 5 209,260 0.02
Tennessee 279 17,538,298 1.89
Texas 202 13,774,024 1.49
Utah 78 6,312,932 0.68
Vermont 3 200,915 0.02
Virginia 255 18,741,578 2.02
Washington 101 8,608,002 0.93
West Virginia 81 4,153,461 0.45
Wisconsin 136 8,647,931 0.93
Wyoming 9 523,509 0.06
Total 13,581 $926,542,627 100.00%
<CAPTION>
Original Loan-to-Value Ratios - Fixed Rate Pool
Range of Number of Aggregate % of Aggregate
Original LTV's Home Equity Loans Loan Balance Loan Balance
- -------------- ----------------- ------------- ------------
<S> <C> <C> <C>
0.01- 5.00% 1 $13,250 0.00%
5.01- 10.00 50 959,106 0.10
10.01- 15.00 231 5,382,217 0.58
15.01- 20.00 314 9,048,421 0.98
20.01- 25.00 275 8,566,444 0.92
25.01- 30.00 225 8,269,821 0.89
30.01- 35.00 209 8,172,959 0.88
35.01- 40.00 193 7,356,708 0.79
40.01- 45.00 209 9,476,724 1.02
45.01- 50.00 358 15,452,761 1.67
50.01- 55.00 327 16,397,610 1.77
55.01- 60.00 470 23,943,273 2.58
60.01- 65.00 692 38,407,387 4.15
65.01- 70.00 1,040 63,930,076 6.90
70.01- 75.00 1,405 96,140,396 10.38
75.01- 80.00 3,489 261,292,481 28.20
80.01- 85.00 2,481 203,944,983 22.01
85.01- 90.00 1,601 148,352,900 16.01
90.01- 95.00 11 1,435,110 0.15
== ========= ====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 35
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Combined Loan-to-Value Ratios - Fixed Rate Pool
Range of Number of Aggregate Loan % of Aggregate
CLTV's Home Equity Loans Balance Loan Balance
- ------ ----------------- ------- ------------
<S> <C> <C> <C>
10.01- 15.00% 14 $241,984 0.03%
15.01- 20.00 35 863,069 0.09
20.01- 25.00 55 1,453,386 0.16
25.01- 30.00 85 2,389,303 0.26
30.01- 35.00 115 4,073,378 0.44
35.01- 40.00 145 5,171,295 0.56
40.01- 45.00 173 7,055,402 0.76
45.01- 50.00 352 14,787,503 1.60
50.01- 55.00 328 16,078,043 1.74
55.01- 60.00 493 24,449,354 2.64
60.01- 65.00 739 39,736,565 4.29
65.01- 70.00 1,116 66,824,022 7.21
70.01- 75.00 1,539 101,227,595 10.93
75.01- 80.00 3,804 273,115,385 29.48
80.01- 85.00 2,828 215,338,228 23.24
85.01- 90.00 1,720 151,771,467 16.38
90.01- 95.00 25 1,675,331 0.18
95.01-100.00 15 291,317 0.03
== ======= ====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Statistical Calculation Date Coupon Rates - Fixed Rate Pool
Range of Number of Aggregate Loan % of Aggregate
Coupon Rates Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
6.01- 7.00% 5 $343,890 0.04%
7.01- 8.00 263 24,652,281 2.66
8.01- 9.00 1,625 134,876,702 14.56
9.01- 10.00 3,374 259,822,026 28.04
10.01- 11.00 3,513 242,436,228 26.17
11.01- 12.00 2,237 138,410,679 14.94
12.01- 13.00 1,271 67,881,013 7.33
13.01- 14.00 780 36,262,950 3.91
14.01- 15.00 330 14,425,982 1.56
15.01- 16.00 85 4,032,349 0.44
16.01- 17.00 84 2,772,927 0.30
17.01- 18.00 14 625,600 0.07
== ======= ====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 36
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Statistical Calculation Date of Loan Balances - Fixed Rate Pool
Range of Number of Aggregate Loan % of Aggregate
Loan Balances ($) Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
0.01- 25,000.00 1,303 $25,024,944 2.70%
25,000.01- 50,000.00 4,187 159,272,611 17.19
50,000.01- 75,000.00 3,855 237,632,297 25.65
75,000.01- 100,000.00 1,882 162,717,193 17.56
100,000.01- 125,000.00 1,071 119,349,558 12.88
125,000.01- 150,000.00 552 75,162,832 8.11
150,000.01- 175,000.00 297 48,135,617 5.20
175,000.01- 200,000.00 165 30,930,295 3.34
200,000.01- 225,000.00 93 19,790,794 2.14
225,000.01- 250,000.00 59 13,901,493 1.50
250,000.01- 275,000.00 45 11,797,720 1.27
275,000.01- 300,000.00 36 10,355,921 1.12
300,000.01- 325,000.00 16 5,026,455 0.54
325,000.01- 350,000.00 7 2,378,541 0.26
350,000.01- 375,000.00 4 1,445,961 0.16
375,000.01- 400,000.00 6 2,354,389 0.25
400,000.01- 425,000.00 2 816,526 0.09
425,000.01- 450,000.00 1 449,480 0.05
= ======= ====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Types of Mortgaged Properties-Fixed Rate Pool
Number of Aggregate Loan % of Aggregate
Property Types Home Equity Loans Balance Loan Balance
- -------------- ----------------- ------- ------------
<S> <C> <C> <C>
Single Family Detached 11,809 $803,217,374 86.69%
Single Family Attached 352 18,503,880 2.00
Two to Four Family Residence 760 59,472,741 6.42
Manufactured Housing 392 21,198,836 2.29
Planned Unit Development 139 15,172,540 1.64
Condominium 103 6,530,035 0.70
Mixed Use 26 2,447,220 0.26
== ========= ====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 37
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Distribution of Months of Seasoning - Fixed Rate Pool
Range of
Months of Number of Aggregate Loan % of Aggregate
Seasoning Home Equity Loans Balance Loan Balance
- --------- ----------------- ------- ------------
<S> <C> <C> <C>
0-1 5,610 $377,441,530 40.74%
2-12 7,956 548,167,685 59.16
13+ 15 933,412 0.10
== ======= ====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Distribution of Remaining Terms to Maturity - Fixed Rate Pool
Range of
Months Remaining Number of Aggregate Loan % of Aggregate
to Maturity Home Equity Loans Balance Loan Balance
- ----------- ----------------- ------- ------------
<S> <C> <C> <C>
0-60 51 $1,122,212 0.12%
61-120 478 15,548,592 1.68
121-180 7,820 515,304,891 55.62
181-240 1,960 118,741,691 12.82
241-300 224 16,036,674 1.73
301-360 3,048 259,788,569 28.04
===== =========== =====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Occupancy Status - Fixed Rate Pool
Occupancy Number of Aggregate Loan % of Aggregate
Status Home Equity Loans Balance Loan Balance
- ------ ----------------- ------- ------------
<S> <C> <C> <C>
Investor Owned 835 $43,277,218 4.67%
Owner Occupied 12,746 883,265,409 95.33
====== =========== =====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 38
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Distribution of Original Months to Maturity - Fixed Rate Pool
Range of Original Number of Aggregate Loan % of Aggregate
Terms to Maturity Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
0-60 51 $1,122,212 0.12%
61-120 478 15,548,592 1.68
121-180 7,820 515,304,891 55.62
181-240 1,960 118,741,691 12.82
241-300 224 16,036,674 1.73
301-360 3,048 259,788,569 28.04
===== =========== =====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Days Delinquent - Fixed Rate Pool
Range of Number of Aggregate Loan % of Aggregate
Days Delinquent Home Equity Loans Balance Loan Balance
- --------------- ----------------- ------- ------------
<S> <C> <C> <C>
0-29 13,419 $915,818,330 98.84
30-59 151 9,816,373 1.06
60-89 11 907,925 0.10
== ======= ====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 39
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Junior Lien Ratio - Fixed Rate Pool
Range of Number of Aggregate Loan % of Aggregate
Junior Lien Ratio Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
< 0.01% 12,401 $885,445,606 95.56%
5.01- 10.00 15 199,002 0.02
10.01- 15.00 71 1,415,096 0.15
15.01- 20.00 213 5,094,581 0.55
20.01- 25.00 196 5,613,544 0.61
25.01- 30.00 174 5,405,691 0.58
30.01- 35.00 132 5,140,195 0.55
35.01- 40.00 108 4,513,109 0.49
40.01- 45.00 68 3,115,616 0.34
45.01- 50.00 52 2,318,278 0.25
50.01- 55.00 43 2,079,431 0.22
55.01- 60.00 29 1,690,002 0.18
60.01- 65.00 19 1,006,164 0.11
65.01- 70.00 17 907,180 0.10
70.01- 75.00 9 468,505 0.05
75.01- 80.00 11 612,791 0.07
80.01- 85.00 13 692,300 0.07
85.01- 90.00 7 369,759 0.04
90.01- 95.00 3 455,780 0.05
= ======= ====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Debt to Income Ratio - Fixed Rate Pool
Range of Debt Number of Aggregate Loan % of Aggregate
to Income Ratio Home Equity Loans Balance Loan Balance
- --------------- ----------------- ------- ------------
<S> <C> <C> <C>
0.01- 5.00% 12 $916,553 0.10%
5.01-10.00 67 2,868,013 0.31
10.01- 15.00 285 12,271,882 1.32
15.01- 20.00 621 31,679,293 3.42
20.01- 25.00 1,056 58,274,625 6.29
25.01- 30.00 1,464 89,441,032 9.65
30.01- 35.00 1,777 111,674,240 12.05
35.01- 40.00 2,220 152,281,466 16.44
40.01- 45.00 2,712 200,243,064 21.61
45.01- 50.00 2,959 230,402,119 24.87
50.01- 55.00 395 35,433,175 3.82
55.01- 60.00 10 851,899 0.09
60.01- 65.00 3 205,267 0.02
= ======= ====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 40
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Types of Mortgaged Properties - Fixed Rate Pool
Number of Aggregate Loan % of Aggregate
Product Type Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
Balloon 20/15 2 $209,633 0.02%
Balloon 30/15 5,495 410,696,239 44.33
Balloon 30/7 1 34,000 0.00
Fixed 8,083 515,602,755 55.65
===== =========== =====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Lien Position - Fixed Rate Pool
Number of Aggregate Loan % of Aggregate
Lien Position Home Equity Loans Balance Loan Balance
- ------------- ----------------- ------- ------------
<S> <C> <C> <C>
1st Lien 12,401 $885,445,606 95.56%
2nd Lien 1,180 41,097,022 4.44
===== ========== ====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Balloon Flag - Fixed Rate Pool
Number of Aggregate Loan % of Aggregate
Balloon Home Equity Loans Balance Loan Balance
- ------- ----------------- ------- ------------
<S> <C> <C> <C>
Non-Balloon 8,083 $515,602,755 55.65%
Ballon 5,498 410,939,872 44.35
===== =========== =====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Loan Purpose - Fixed Rate Pool
Number of Aggregate Loan % of Aggregate
Loan Purpose Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
DC & HI Combo 2 $156,179 0.02%
Debt Consolidation 9,132 619,917,980 66.91
Home Improvement 298 18,634,454 2.01
Purchase 957 72,940,358 7.87
Other 3,192 214,893,656 23.19
===== =========== =====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 41
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Documentation Level - Fixed Rate Pool
Documentation Number of Aggregate Loan % of Aggregate
Level Home Equity Loans Balance Loan Balance
- ----- ----------------- ------- ------------
<S> <C> <C> <C>
Full Documentation 0 $831,199,016 0%
Limited Documentation 735 61,561,895 6.64
No Documentation 469 33,781,716 3.65
=== ========== ====
Total 13,581 $926,542,627 100.00%
<CAPTION>
Credit Rating - Fixed Rate Pool
Number of Aggregate Loan % of Aggregate
Credit Rating Home Equity Loans Balance Loan Balance
- ------------- ----------------- ------- ------------
<S> <C> <C> <C>
A 8,031 $602,464,086 65.02%
B 3,091 195,405,659 21.09
C 1,975 109,079,956 11.77
D 484 19,592,927 2.11
=== ========== ====
Total 13,581 $926,542,627 100.00%
</TABLE>
[LOGO] Merrill Lynch 42
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Geographic Distribution of Mortgaged Properties - Adjustable Rate Pool 1
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- ----- ----------------- ------------ ------------
<S> <C> <C> <C>
Arizona 63 $5,637,077 4.05%
Arkansas 1 84,000 0.06
California 179 29,760,870 21.37
Colorado 62 7,187,371 5.16
Connecticut 3 438,815 0.32
District of Columbiua 2 397,679 0.29
Florida 108 10,915,808 7.84
Georgia 55 5,990,774 4.30
Hawaii 5 1,193,085 0.86
Idaho 7 601,609 0.43
Illinois 52 6,630,260 4.76
Indiana 25 1,936,816 1.39
Iowa 3 141,866 0.10
Kansas 11 851,610 0.61
Kentucky 8 654,923 0.47
Louisiana 9 884,675 0.64
Maryland 23 2,503,104 1.80
Massachusettes 25 3,377,414 2.43
Michigan 166 15,932,303 11.44
Minnesota 18 1,896,014 1.36
Missouri 32 2,448,588 1.76
Montana 6 584,659 0.42
</TABLE>
[LOGO] Merrill Lynch 43
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Geographic Distribution of Mortgaged Properties (Continued) - Adjustable Rate Pool 1
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- ----- ----------------- ------------ ------------
<S> <C> <C> <C>
Nebraska 4 $207,108 0.15%
Nevada 11 1,478,812 1.06
New Hampshire 4 419,279 0.30
New Jersey 6 740,752 0.53
New Mexico 22 2,335,819 1.68
New York 4 359,397 0.26
North Carolina 5 378,223 0.27
Ohio 50 4,509,737 3.24
Oklahoma 12 967,747 0.70
Oregon 29 3,211,532 2.31
Pennsylvania 55 5,082,608 3.65
Rhode Island 4 493,866 0.35
South Dakota 2 71,991 0.05
Tennessee 2 141,400 0.10
Texas 32 3,662,809 2.63
Utah 71 8,577,631 6.16
Virginia 6 930,093 0.67
Washington 35 4,543,145 3.26
West Virginia 2 57,650 0.04
Wisconsin 10 1,024,702 0.74
== ========= ====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 44
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Range of Original LTV's- Adjustable Rate Pool 1
Range of Number of Aggregate Loan % of Aggregate
Original LTV's Home Equity Loans Balance Loan Balance
- -------------- ----------------- ------- ------------
<S> <C> <C> <C>
15.01- 20.00% 1 $150,000 0.11%
25.01- 30.00 1 74,937 0.05
30.01- 35.00 1 90,000 0.06
35.01- 40.00 3 150,422 0.11
40.01- 45.00 4 238,945 0.17
45.01- 50.00 14 1,019,916 0.73
50.01- 55.00 10 1,219,818 0.88
55.01- 60.00 25 2,270,098 1.63
60.01- 65.00 35 3,218,054 2.31
65.01- 70.00 88 8,182,527 5.88
70.01- 75.00 152 15,148,296 10.88
75.01- 80.00 327 36,788,202 26.42
80.01- 85.00 274 33,170,949 23.82
85.01- 90.00 291 37,167,232 26.69
90.01- 95.00 3 354,220 0.25
= ======= ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Statistical Calculation Date Coupon Rates - Adjustable Rate Pool 1
Range of Number of Aggregate Loan % of Aggregate
Current Coupon Rates Home Equity Loans Balance Loan Balance
- -------------------- ----------------- ------- ------------
<S> <C> <C> <C>
7.01- 8.00% 15 $2,753,152 1.98%
8.01- 9.00 126 18,364,197 13.19
9.01- 10.00 433 52,743,257 37.88
10.01- 11.00 472 50,464,279 36.24
11.01- 12.00 147 12,870,380 9.24
12.01- 13.00 24 1,436,948 1.03
13.01- 14.00 9 473,697 0.34
14.01- 15.00 3 137,706 0.10
= ======= ====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 45
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Statistical Calculation Date Loan Balances - Adjustable Rate Pool 1
Range of Number of Aggregate Loan % of Aggregate
Loan Balances ($) Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
0.01- 25,000.00 10 $204,251 0.15%
25,000.01- 50,000.00 159 6,382,554 4.58
50,000.01- 75,000.00 217 13,799,927 9.91
75,000.01- 100,000.00 187 16,464,294 11.82
100,000.01- 125,000.00 246 27,451,185 19.71
125,000.01- 150,000.00 157 21,568,903 15.49
150,000.01- 175,000.00 85 13,588,642 9.76
175,000.01- 200,000.00 60 11,177,098 8.03
200,000.01- 225,000.00 34 7,278,957 5.23
225,000.01- 250,000.00 25 5,922,983 4.25
250,000.01- 275,000.00 11 2,892,677 2.08
275,000.01- 300,000.00 11 3,173,986 2.28
300,000.01- 325,000.00 10 3,118,744 2.24
325,000.01- 350,000.00 8 2,714,012 1.95
350,000.01- 375,000.00 3 1,077,700 0.77
375,000.01- 400,000.00 3 1,176,424 0.84
400,000.01- 425,000.00 2 821,280 0.59
425,000.01- 450,000.00 1 430,000 0.31
= ======= ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Types of Mortgaged Properties - Adjustable Rate Pool 1
Property Number of Aggregate Loan % of Aggregate
Types Home Equity Loans Balance Loan Balance
- ----- ----------------- ------- ------------
<S> <C> <C> <C>
Single Family Detached 1,046 $120,289,309 86.39%
Single Family Attached 17 1,302,982 0.94
Planned Unit Development 56 7,537,944 5.41
Two to Four Family Residence 49 5,120,969 3.68
Manufactured Housing 38 3,082,535 2.21
Condominium 22 1,869,875 1.34
Mixed Use 1 40,000 0.03
= ====== ====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 46
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Distribution of Months of Seasoning - Adjustable Rate Pool 1
Range of
Months of Number of Aggregate Loan % of Aggregate
Seasoning Home Equity Loans Balance Loan Balance
- --------- ----------------- ------- ------------
<S> <C> <C> <C>
0-1 725 $72,369,331 51.97%
2-12 504 66,874,284 48.03
=== ========== =====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Distribution of Remaining Terms to Maturity - Adjustable Rate Pool 1
Range of
Months Remaining Number of Aggregate Loan % of Aggregate
to Maturity Home Equity Loans Balance Loan Balance
- ----------- ----------------- ------- ------------
<S> <C> <C> <C>
121- 180 2 $132,609 0.10%
181- 240 1 184,000 0.13
301- 360 1,226 138,927,006 99.77
===== =========== =====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Occupancy Status - Adjustable Rate Pool 1
Occupancy Number of Aggregate Loan % of Aggregate
Status Home Equity Loans Balance Loan Balance
- ------ ----------------- ------- ------------
<S> <C> <C> <C>
Investor Owned 53 $4,398,054 3.16%
Owner Occupied 1,176 134,845,561 96.84
===== =========== =====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 47
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Distribution of Margins - Adjustable Rate Pool 1
Range Number of Aggregate Loan % of Aggregate
of Margins Home Equity Loans Balance Loan Balance
- ----------- ----------------- ------- ------------
<S> <C> <C> <C>
3.01- 4.00% 7 $1,085,306 0.78%
4.01- 5.00 79 11,011,872 7.91
5.01- 6.00 464 54,661,575 39.26
6.01- 7.00 493 54,646,641 39.25
7.01- 8.00 153 15,151,644 10.88
8.01- 9.00 27 2,111,309 1.52
9.01- 10.00 5 506,520 0.36
10.01- 11.00 1 68,750 0.05
= ====== ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Distribution of Maximum Coupon Rates - Adjustable Rate Pool 1
Range of Number of Aggregate Loan % of Aggregate
Maximum Rates Home Equity Loans Balance Loan Balance
- ------------- ----------------- ------- ------------
<S> <C> <C> <C>
13.01- 14.00% 9 $1,460,179 1.05%
14.01- 15.00 90 13,919,717 10.00
15.01- 16.00 389 47,914,640 34.41
16.01- 17.00 479 51,598,438 37.06
17.01- 18.00 202 20,232,126 14.53
18.01- 19.00 38 2,965,782 2.13
19.01- 20.00 16 892,036 0.64
20.01- 21.00 5 234,197 0.17
21.01- 22.00 1 26,500 0.02
= ====== ====
Total 1,229 $139,243,616 100.00
</TABLE>
[LOGO] Merrill Lynch 48
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Next Rate Change - Adjustable Rate Pool 1
Month of Next Coupon Number of Aggregate Loan % of Aggregate
Rate Change Home Equity Loans Balance Loan Balance
- ----------- ----------------- ------- ------------
<S> <C> <C> <C>
March, 2000 7 $938,999 0.67%
April , 2000 358 53,529,376 38.44
May, 2000 453 42,964,655 30.86
June, 2000 6 608,092 0.44
July, 2000 1 35,866 0.03
September, 2000 1 29,956 0.02
October, 2000 1 86,215 0.06
November, 2000 1 76,382 0.05
December, 2000 1 49,899 0.04
January, 2001 5 1,073,747 0.77
February, 2001 9 934,155 0.67
March, 2001 86 8,401,932 6.03
April, 2001 177 18,503,065 13.29
May, 2001 121 11,732,277 8.43
June, 2001 2 279,000 0.20
= ======= ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Distribution of Remaining Terms to Maturity - Adjustable Rate Pool 1
Range of Original Number of Aggregate Loan % of Aggregate
Terms to Maturity Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
121-180 2 $132,609 0.10%
181-240 1 184,000 0.13
301-360 1,226 138,927,006 99.77
===== =========== =====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Days Delinquent - Adjustable Rate Pool 1
Range of Number of Aggregate Loan % of Aggregate
Days Delinquent Home Equity Loans Balance Loan Balance
- --------------- ----------------- ------- ------------
<S> <C> <C> <C>
0-29 1,221 $138,437,097 99.42%
30-59 8 806,519 0.58
= ======= ====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 49
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Debt to Income Ratio - Adjustable Rate Pool 1
Range of Number of Aggregate Loan % of Aggregate
Debt to Income Ratio Home Equity Loans Balance Loan Balance
- -------------------- ----------------- ------- ------------
<S> <C> <C> <C>
5.01- 10.00% 4 $521,105 0.37%
10.01- 15.00 15 1,737,453 1.25
15.01- 20.00 39 3,174,403 2.28
20.01- 25.00 75 6,610,685 4.75
25.01- 30.00 109 9,683,776 6.95
30.01- 35.00 148 15,908,896 11.43
35.01- 40.00 175 19,458,578 13.97
40.01- 45.00 275 32,992,590 23.69
45.01- 50.00 312 38,650,895 27.76
50.01- 55.00 72 9,884,300 7.10
55.01- 60.00 4 405,016 0.29
60.01- 65.00 1 215,919 0.16
= ======= ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Product Type - Adjustable Rate Pool 1
Number of Aggregate Loan % of Aggregate
Product Type Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
2/28 ARMs 824 $98,041,122 70.41%
3/27 ARMs 405 41,202,494 29.59
=== ========== =====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Loan Purpose - Adjustable Rate Pool 1
Number of Aggregate Loan % of Aggregate
Loan Purpose Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
Debt Consolidation 519 $60,027,127 43.11%
Home Improvement 33 3,723,785 2.67
Purchase 379 40,990,357 29.44
Other 298 34,502,347 24.78
=== ========== =====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 50
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Documentation Level - Adjustable Rate Pool 1
Documentation Number of Aggregate Loan % of Aggregate
Level Home Equity Loans Balance Loan Balance
- ----- ----------------- ------- ------------
<S> <C> <C> <C>
Full Documentation 1,064 $118,162,530 84.86%
Limited Documentation 75 9,688,258 6.96
No Documentation 90 11,392,827 8.18
== ========== ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Credit Grade - Adjustable Rate Pool 1
Number of Aggregate Loan % of Aggregate
Credit Rating Home Equity Loans Balance Loan Balance
- ------------- ----------------- ------- ------------
<S> <C> <C> <C>
A 700 $86,650,069 62.23%
B 316 33,580,046 24.12
C 189 17,208,042 12.36
D 24 1,805,459 1.30
== ========= ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Index Type - Adjustable Rate Pool 1
Number of Aggregate Loan % of Aggregate
Index Type Home Equity Loans Balance Loan Balance
- ---------- ----------------- ------- ------------
<S> <C> <C> <C>
6mo LIBOR 1,229 $139,243,616 100.00%
Total 1,229 $139,243,616 100.00%
<CAPTION>
Initial Periodic Cap - Adjustable Rate Pool 1
Initial Number of Aggregate Loan % of Aggregate
Periodic Cap Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
1.000% 8 $1,016,872 0.73%
1.500 87 10,769,622 7.73
2.000 1 103,000 0.07
3.000 1,073 121,467,429 87.23
6.000 60 5,886,693 4.23
== ========= ====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 51
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Periodic Rate Cap - Adjustable Rate Pool 1
Number of Aggregate Loan % of Aggregate
Periodic Rate Cap Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
1.000% 1,135 $127,517,496 91.58%
1.500 89 11,181,051 8.03
2.000 1 160,124 0.11
3.000 4 384,945 0.28
= ======= ====
Total 1,229 $139,243,616 100.00%
<CAPTION>
Distribution of Minimum Coupon Rates - Adjustable Rate Pool 1
Range of Number of Aggregate Loan % of Aggregate
Minimum Rates Home Equity Loans Balance Loan Balance
- ------------- ----------------- ------- ------------
<S> <C> <C> <C>
6.01- 7.00% 1 $56,000 0.04%
7.01- 8.00 16 2,880,591 2.07
8.01- 9.00 126 18,364,197 13.19
9.01- 10.00 432 52,615,819 37.79
10.01- 11.00 472 50,464,279 36.24
11.01- 12.00 146 12,814,380 9.20
12.01- 13.00 24 1,436,948 1.03
13.01- 14.00 9 473,697 0.34
14.01- 15.00 3 137,706 0.10
= ======= ====
Total 1,229 $139,243,616 100.00%
</TABLE>
[LOGO] Merrill Lynch 52
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
- -------------------------------------------------------------------------------
GROUP II HOME EQUITY LOANS
- -------------------------------------------------------------------------------
Geographic Distribution of Mortgaged Properties - Adjustable Rate Pool 2
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- ----- ----------------- ------------ ------------
Arizona 57 $4,887,535 3.51%
Arkansas 4 574,283 0.41
California 117 15,873,671 11.39
Colorado 29 2,707,707 1.94
Connecticut 15 1,394,009 1.00
Delaware 2 212,340 0.15
Florida 86 6,263,821 4.49
Georgia 42 3,851,775 2.76
Idaho 16 1,384,769 0.99
Illinois 95 9,087,986 6.52
Indiana 62 3,574,265 2.56
Iowa 3 155,590 0.11
Kansas 14 904,629 0.65
Kentucky 21 1,237,304 0.89
Louisiana 4 279,853 0.20
Maryland 25 2,127,900 1.53
Massachussetts 10 1,244,939 0.89
Michigan 475 34,409,377 24.69
Minnesota 23 1,800,696 1.29
Mississippi 12 586,016 0.42
Missouri 45 2,630,700 1.89
Montana 6 579,805 0.42
[LOGO] Merrill Lynch 53
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
Geographic Distribution of Mortgaged Properties (continued) -
Adjustable Rate Pool 2
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- ----- ----------------- ------------ ------------
Nebraska 1 $68,808 0.05%
Nevada 10 809,287 0.58
New Hampshire 5 616,336 0.44
New Jersey 7 901,165 0.65
New Mexico 18 1,447,651 1.04
New York 16 1,860,087 1.33
North Carolina 31 2,541,218 1.82
North Dakota 1 71,965 0.05
Ohio 120 7,951,971 5.71
Oklahoma 14 979,279 0.70
Oregon 8 761,545 0.55
Pennsylvania 57 4,188,705 3.01
Rhode Island 1 86,200 0.06
South Carolina 9 770,912 0.55
South Dakota 2 103,135 0.07
Tennessee 14 1,440,340 1.03
Texas 75 7,205,739 5.17
Utah 45 4,543,149 3.26
Virginia 10 663,340 0.48
Washington 37 4,159,619 2.98
West Virginia 4 224,462 0.16
Wisconsin 30 2,076,376 1.49
Wyoming 2 142,879 0.10
= ======= ====
Total 1,680 $139,383,141 100.00%
[LOGO] Merrill Lynch 54
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Original Loan-to-Value Ratios - Adjustable Rate Pool 2
Range of Number of Aggregate Loan % of Aggregate
Original LTV's Home Equity Loans Balance Loan Balance
- -------------- ----------------- ------- ------------
<S> <C> <C> <C>
15.01- 20.00% 3 $136,365 0.10%
20.01- 25.00 3 127,031 0.09
25.01- 30.00 1 25,989 0.02
30.01- 35.00 7 268,282 0.19
35.01- 40.00 10 537,261 0.39
40.01- 45.00 10 566,652 0.41
45.01- 50.00 25 1,274,582 0.91
50.01- 55.00 13 804,650 0.58
55.01- 60.00 47 2,295,535 1.65
60.01- 65.00 70 5,208,841 3.74
65.01- 70.00 135 9,155,881 6.57
70.01- 75.00 216 17,584,586 12.62
75.01- 80.00 449 36,016,840 25.84
80.01- 85.00 339 29,885,181 21.44
85.01- 90.00 348 35,119,151 25.20
90.01- 95.00 4 376,315 0.27
= ======= ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Distribution of Minimum Coupon Rates - Adjustable Rate Pool 2
Range of Number of Aggregate Loan % of Aggregate
Minimum Coupon Rates Home Equity Loans Balance Loan Balance
- -------------------- ----------------- ------- ------------
<S> <C> <C> <C>
3.01- 4.00% 1 $133,468 0.10%
4.01- 5.00 1 37,807 0.03
6.01- 7.00 2 171,942 0.12
7.01- 8.00 37 4,836,677 3.47
8.01- 9.00 192 20,321,152 14.58
9.01- 10.00 497 44,925,963 32.23
10.01- 11.00 591 46,169,876 33.12
11.01- 12.00 259 17,826,879 12.79
12.01- 13.00 56 3,329,050 2.39
13.01- 14.00 31 1,149,122 0.82
14.01- 15.00 11 431,957 0.31
15.01- 16.00 2 49,248 0.04
= ====== ====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 55
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Statistical Calculation Date Loan Balances - Adjustable Rate Pool 2
Range of Number of Aggregate Loan % of Aggregate
Loan Balances ($) Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
0.01- 25,000.00 51 $1,030,510 0.74%
25,000.01- 50,000.00 361 14,152,877 10.15
50,000.01- 75,000.00 512 32,060,982 23.00
75,000.01- 100,000.00 371 32,240,014 23.13
100,000.01- 125,000.00 155 17,299,443 12.41
125,000.01- 150,000.00 82 11,249,220 8.07
150,000.01- 175,000.00 53 8,498,694 6.10
175,000.01- 200,000.00 32 5,960,960 4.28
200,000.01- 225,000.00 16 3,409,976 2.45
225,000.01- 250,000.00 12 2,894,249 2.08
250,000.01- 275,000.00 11 2,873,892 2.06
275,000.01- 300,000.00 11 3,201,956 2.30
300,000.01- 325,000.00 5 1,567,833 1.12
325,000.01- 350,000.00 2 697,328 0.50
350,000.01- 375,000.00 4 1,445,482 1.04
375,000.01- 400,000.00 1 399,584 0.29
400,000.01- 425,000.00 1 400,143 0.29
= ======= ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Statistical Calculation Date Coupon Rates - Adjustable Rate Pool 2
Range of Number of Aggregate Loan % of Aggregate
Coupon Rates Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
6.01- 7.00% 2 $171,942 0.12%
7.01- 8.00 37 4,836,677 3.47
8.01- 9.00 192 20,321,152 14.58
9.01- 10.00 499 45,097,238 32.35
10.01- 11.00 591 46,169,876 33.12
11.01- 12.00 259 17,826,879 12.79
12.01- 13.00 56 3,329,050 2.39
13.01- 14.00 31 1,149,122 0.82
14.01- 15.00 11 431,957 0.31
15.01- 16.00 2 49,248 0.04
= ====== ====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 56
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Types of Mortgaged Properties - Adjustable Rate Pool 2
Number of Aggregate Loan % of Aggregate
Property Types Home Equity Loans Balance Loan Balance
- -------------- ----------------- ------- ------------
<S> <C> <C> <C>
Single Family Detached 1,456 $121,258,031 87.00%
Single Family Attached 27 1,537,704 1.10
Two to Four Family Residence 83 6,929,689 4.97
Planned Unit Development 37 4,022,091 2.89
Manufactured Housing 51 3,639,822 2.61
Condominium 25 1,960,818 1.41
Mixed Use 1 34,985 0.03
= ====== ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Distribution of Months of Seasoning - Adjustable Rate Pool 2
Range
Months of Number of Aggregate Loan % of Aggregate
Seasoning Home Equity Loans Balance Loan Balance
- --------- ----------------- ------- ------------
<S> <C> <C> <C>
0-1 208 $15,589,248 11.18%
2-12 1,472 123,793,893 88.82
===== =========== =====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Distribution of Remaining Terms to Maturity - Adjustable Rate Pool 2
Range
Months Remaining Number of Aggregate Loan % of Aggregate
to Maturity Home Equity Loans Balance Loan Balance
- ----------- ----------------- ------- ------------
<S> <C> <C> <C>
61- 120 1 $104,499 0.07%
121- 180 1 34,787 0.02
181- 240 2 153,085 0.11
301- 360 1,676 139,090,770 99.79
===== =========== =====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 57
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Occupancy Status - Adjustable Rate Pool 2
Occupancy Number of Aggregate Loan % of Aggregate
Status Home Equity Loans Balance Loan Balance
- ------ ----------------- ------- ------------
<S> <C> <C> <C>
Investor Owned 129 $8,017,835 5.75%
Owner Occupied 1,551 131,365,306 94.25
===== =========== =====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Distribution of Margins - Adjustable Rate Pool 2
Range Number of Aggregate Loan % of Aggregate
of Margins Home Equity Loans Balance Loan Balance
- ---------- ----------------- ------- ------------
<S> <C> <C> <C>
1.01- 2.00% 1 $83,795 0.06%
3.01- 4.00 12 1,129,445 0.81
4.01- 5.00 125 11,911,326 8.55
5.01- 6.00 533 48,362,518 34.70
6.01- 7.00 619 50,354,087 36.13
7.01- 8.00 300 22,375,545 16.05
8.01- 9.00 63 4,256,814 3.05
9.01- 10.00 22 734,964 0.53
10.01- 11.00 5 174,647 0.13
= ======= ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Distribution of Maximum Coupon Rates - Adjustable Rate Pool 2
Range Of Number of Aggregate Loan % of Aggregate
Maximum Rates Home Equity Loans Balance Loan Balance
- ------------- ----------------- ------- ------------
<S> <C> <C> <C>
9.01- 10.00% 1 $133,468 0.10%
10.01- 11.00 2 159,292 0.11
12.01- 13.00 1 102,000 0.07
13.01- 14.00 22 2,877,168 2.06
14.01- 15.00 140 16,080,908 11.54
15.01- 16.00 431 38,060,739 27.31
16.01- 17.00 571 46,904,413 33.65
17.01- 18.00 319 23,193,111 16.64
18.01- 19.00 120 8,349,083 5.99
19.01- 20.00 45 2,448,958 1.76
20.01- 21.00 19 803,470 0.58
21.01- 22.00 7 221,283 0.16
22.01- 23.00 2 49,248 0.04
= ====== ====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 58
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Next Rate Adjustment - Adjustable Rate Pool 2
Month of Next Coupon Number of Aggregate Loan % of Aggregate
Rate Change Home Equity Loans Balance Loan Balance
- ----------- ----------------- ------- ------------
<S> <C> <C> <C>
June, 1998 10 $931,313 0.67%
July, 1998 6 507,965 0.36
August, 1998 21 1,515,820 1.09
September, 1998 97 9,747,478 6.99
October, 1998 130 12,514,336 8.98
November, 1998 39 4,759,090 3.41
August, 1999 2 137,398 0.10
October, 1999 5 698,042 0.50
November, 1999 14 819,724 0.59
December, 1999 20 1,759,036 1.26
January, 2000 47 4,713,720 3.38
February, 2000 129 12,831,798 9.21
March, 2000 558 51,128,055 36.68
April, 2000 601 37,228,416 26.71
May, 2000 1 90,950 0.07
= ====== ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Distribution of Original Terms to Maturity - Adjustable Rate Pool 2
Range of Original Number of Aggregate Loan % of Aggregate
Terms to Maturity Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
61-120 1 $104,499 0.07%
121-180 1 34,787 0.02
181-240 2 153,085 0.11
301-360 1,676 139,090,770 99.79
===== =========== =====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 59
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Days Delinquent - Adjustable Rate Pool 2
Range of Number of Aggregate Loan % of Aggregate
Days Delinquent Home Equity Loans Balance Loan Balance
- --------------- ----------------- ------- ------------
<S> <C> <C> <C>
0-29 1,636 $135,811,652 97.44%
30-59 41 3,210,483 2.30
60-89 3 361,005 0.26
= ======= ====
Total 1,680 $139,383,141 100.00%
Total
<CAPTION>
Debt to Income Ratio - Adjustable Rate Pool 2
Range of Number of Aggregate Loan % of Aggregate
Debt to Income Ratio Home Equity Loans Balance Loan Balance
- -------------------- ----------------- ------- ------------
<S> <C> <C> <C>
0.01 - 5.00% 1 $69,968 0.05%
5.01 - 10.00 6 367,616 0.26
10.01 - 15.00 26 1,645,220 1.18
15.01- 20.00 64 3,571,490 2.56
20.01- 25.00 128 8,074,258 5.79
25.01- 30.00 150 11,012,832 7.90
30.01- 35.00 214 16,015,668 11.49
35.01- 40.00 287 24,345,999 17.47
40.01- 45.00 337 30,846,383 22.13
45.01- 50.00 369 33,739,285 24.21
50.01- 55.00 93 9,094,897 6.53
55.01- 60.00 2 227,693 0.16
60.01- 65.00 2 219,945 0.16
65.01- 70.00 1 151,886 0.11
= ======= ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Product Type - Adjustable Rate Pool 2
Number of Aggregate Loan % of Aggregate
Product Type Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
2/28 ARMs 1,376 $109,267,688 78.39%
2/28 CMTs 1 139,450 0.10
6 mo LIBOR ARMs 303 29,976,003 21.51
=== ========== =====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 60
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Loan Purpose - Adjustable Rate Pool 2
Number of Aggregate Loan % of Aggregate
Loan Purpose Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<S> <C> <C> <C>
Debt Consolidation 887 $70,726,181 50.74%
Home Improvement 14 1,542,819 1.11
Purchase 435 37,583,568 26.96
Other 344 29,530,573 21.19
=== ========== =====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Documentation Level - Adjustable Rate Pool 2
Documentation Number of Aggregate Loan % of Aggregate
Level Home Equity Loans Balance Loan Balance
- ----- ----------------- ------- ------------
<S> <C> <C> <C>
Full Documentation 1,491 $121,798,135 87.38%
Limited Documentation 86 9,087,420 6.52
No Documentaion 103 8,497,586 6.10
=== ========= ====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 61
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-2
- -------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Credit Grade - Adjustable Rate Pool 2
Number of Aggregate Loan % of Aggregate
Credit Rating Home Equity Loans Balance Loan Balance
- ------------- ----------------- ------- ------------
<S> <C> <C> <C>
A 927 $87,353,121 62.67%
B 419 30,764,835 22.07
C 285 18,512,863 13.28
D 49 2,752,322 1.97
== ========= ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Index Type - Adjustable Rate Pool 2
Number of Aggregate Loan % of Aggregate
Index Type Home Equity Loans Balance Loan Balance
- ---------- ----------------- ------- ------------
<S> <C> <C> <C>
1 Year CMT 1 $139,450 0.10%
6 mo LIBOR 1,679 139,243,691 99.90
===== =========== =====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Initial Periodic Cap - Adjustable Rate Pool 2
Initial Number of Aggregate Loan % of Aggregate
Periodic Cap Home Equity Loans Balance Loan Balance
- ------------ ----------------- ------- ------------
<C> <C> <C> <C>
1.000% 306 $30,264,825 21.71%
1.500 40 3,422,941 2.46
2.000 2 212,174 0.15
3.000 1,328 105,049,086 75.37
3.025 1 81,101 0.06
6.000 3 353,015 0.25
= ======= ====
Total 1,680 $139,383,141 100.00%
<CAPTION>
Periodic Rate Cap - Adjustable Rate Pool 2
Number of Aggregate Loan % of Aggregate
Periodic Rate Cap Home Equity Loans Balance Loan Balance
- ----------------- ----------------- ------- ------------
<S> <C> <C> <C>
1.000% 1,626 $134,701,476 96.64%
1.500 39 3,346,988 2.40
3.000 15 1,334,677 0.96
== ========= ====
Total 1,680 $139,383,141 100.00%
</TABLE>
[LOGO] Merrill Lynch 62
- -------------------------------------------------------------------------------
Recipients must read the information contained in the attached statement. Do
not use or rely on this information if you have not received and reviewed the
statement. If you have not received the statement, call your Merrill Lynch
account executive for another copy.
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