<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) February 24, 1999
ContiSecurities Asset Funding Corp.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-61863 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 Bear Stearns
& Co. Inc., as an underwriter, in connection with the issuance by ContiMortgage
Home Equity Loan Trust 1999-1 of Home Equity Loan Pass-Through Certificates,
Series 1999-1. 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
<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/ John Banu
-------------------------------------
Name: John Banu
Title: Authorized Signatory
CONTISECURITIES ASSET FUNDING CORP.,
as Depositor
By: /s/ Mary Rapoport
-------------------------------------
Name: Mary Rapoport
Title: Authorized Signatory
Dated: February 24, 1999
<PAGE>
EXHIBIT INDEX
Exhibit Page
- ------- ----
99.1 Computational Materials
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
BEAR STEARNS BEAR, STEARNS & CO. INC.
ATLANTA o BOSTON o CHICAGO o DALLAS o LOS ANGELES ASSET-BACKED SECURITIES GROUP
NEW YORK o SAN FRANCISCO o Washington D.C. 245 Park Avenue
BEIJING o BUENOS AIRES o DUBLIN o GENEVA o HONG KONG New York, N.Y. 10167
LONDON o Lugano o PARIS o SHANGHAI o TOKYO (212) 272-2000; (212) 272-7294 fax
</TABLE>
FAX TRANSMITTAL
Computational Material
CONTIMORTGAGE Home Equity Loan Trust, Series 1999-1
---------------------------------------------------
- --------------------------------------------------------------------------------
Fax to: Date:
Company: # Pages (incl. cover):
Fax No: Phone No:
- --------------------------------------------------------------------------------
From: Phone No:
- --------------------------------------------------------------------------------
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES,
AND OTHER INFORMATION
The information contained in the attached materials (the "Information") may
include various forms of performance analysis, security characteristics and
securities pricing estimates for the securities addressed. Please read and
understand this entire statement before utilizing the Information. The
Information is provided solely by Bear Stearns, not as agent for any issuer, and
although it may be based on data supplied to it by an issuer, the issuer has not
participated in its preparation and makes no representations regarding its
accuracy or completeness. Should you receive Information that refers to the
"Statement Regarding Assumptions and Other Information," please refer to this
statement instead.
The Information is illustrative and is not intended to predict actual results
which may differ substantially from those reflected in the Information.
Performance analysis is based on certain assumptions with respect to significant
factors that may prove not to be as assumed. You should understand the
assumptions and evaluate whether they are appropriate for your purposes.
Performance results are based on mathematical models that use inputs to
calculate results. As with all models, results may vary significantly depending
upon the value of the inputs given. Inputs to these models include but are not
limited to: prepayment expectations (economic prepayment models, single expected
lifetime prepayments or a vector of periodic prepayments), interest rate
assumptions (parallel and nonparallel changes for different maturity
instruments), collateral assumptions (actual pool level data, aggregated pool
level data, reported factors or imputed factors), volatility assumptions
(historically observed or implied current) and reported information (paydown
factors, rate resets, and trustee statements). Models used in any analysis may
be proprietary making the results difficult for any third party to reproduce.
Contact your registered representative for detailed explanations of any modeling
techniques employed in the Information.
<PAGE>
The Information addresses only certain aspects of the applicable security's
characteristics and thus does not provide a complete assessment. As such, the
Information may not reflect the impact of all structural characteristics of the
security, including call events and cash flow priorities at all prepayment
speeds and/or interest rates. You should consider whether the behavior of these
securities should be tested as assumptions different from those included in the
Information. The assumptions underlying the Information, including structure and
collateral, may be modified from time to time to reflect changed circumstances.
Any investment decision should be based only on the data in the prospectus and
the prospectus supplement or private placement memorandum (Offering Documents)
and the then current version of the Information. Offering Documents contain data
that is current as of their publication dates and after publication may no
longer be complete or current. Contact your registered representative for
Offering Documents, current Information or additional materials, including other
models for performance analysis, which are likely to produce different results,
and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent
our view, at the time determined, of the investment value of the securities
between the estimated bid and offer levels, the spread between which may be
significant due to market volatility or illiquidity, (b) do not constitute a bid
by any person for any security, (c) may not constitute prices at which the
securities could have been purchased or sold in any market, (d) have not been
confirmed by actual trades, may vary from the value Bear Stearns assigns any
such security while in its inventory, and may not take into account the size of
a position you have in the security, and (e) may have been derived from matrix
pricing that uses data relating to other securities whose prices are more
readily ascertainable to produce a hypothetical price based on the estimated
yield spread relationship between the securities.
General Information: The data underlying the Information has been obtained from
sources that we believe are reliable, but we do not guarantee the accuracy of
the underlying data or computations based thereon. Bear Stearns and/or
individuals thereof may have positions in these securities while the Information
is circulating or during such period may engage in transactions with the issuer
or its affiliates. We act as principal in transactions with you, and
accordingly, you must determine the appropriateness for you of such transactions
and address any legal, tax, or accounting considerations applicable to you. Bear
Stearns shall not be a fiduciary or advisor unless we have agreed in writing to
receive compensation specifically to act in such capacities. If you are subject
to ERISA, the Information is being furnished on the condition that it will not
form a primary basis for any investment decision. The Information is not a
solicitation of any transaction in securities which may be made only by
prospectus when required by law, in which event you may obtain such prospectus
from Bear Stearns.
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Final
Class Expected Ratings Scheduled
Size Moody's/Fitch/ Average Payment Payment
Class ($ MM) Tranche Type S&P) Life (1,2) Date Window (1,2) Day Count
==================================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $163.375 Fixed Sequential Aaa/AAA/AAA 0.85 years/MAT 12/25/13 04/99-08/00/17 mo. 30/360
A-2 97.982 Fixed Sequential Aaa/AAA/AAA 2.00 years/MAT 12/25/16 08/00-09/01/14 mo. 30/360
A-3 52.977 Fixed Sequential Aaa/AAA/AAA 3.00 years/MAT 05/25/21 09/01-10/02/14 mo. 30/360
A-4(3) 30.125 Fixed Sequential Aaa/AAA/AAA 4.00 years/MAT 12/25/23 10/02-07/03/10 mo. 30/360
A-5(3) 31.208 Fixed Sequential Aaa/AAA/AAA 5.00 years/MAT 02/25/26 07/03-11/04/17 mo. 30/360
A-6(2,3) 53.333 Fixed Sequential Aaa/AAA/AAA 6.84 years/CALL 04/25/30 11/04-04/06/18 mo. 30/360
A-7(2,3) 34.125 Fixed NAS Aaa/AAA/AAA 6.09 years/CALL 12/25/13 05/02-04/06/48 mo. 30/360
A-8(2,3) 154.375 ARM Floater Aaa/AAA/AAA 2.46 years/CALL 04/25/30 04/99-04/06/85 mo. Act/360
B(2,3) 32.500 Fixed Subordinate Baa3/BBB/BBB- 4.85 years/CALL 04/25/30 04/02-04/06/49 mo. 30/360
A-9 IO(4) 34.125 Fixed NAS IO Aaa/AAA/AAAr [ ] years Mod. Dur. 09/25/01 04/99-09/01/30 mo. 30/360
- ----------------------------------------------------------------------------------------------------------------------------------
Total $650.000 -- -- -- -- -- --
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) See "Pricing Prepayment Speed" below.
(2) All Certificates are priced to call. The coupon on the Class A-6, Class A-7
and Class B Certificates will increase by 0.50% after the clean up call
date. The spread on the Class A-8 Certificates will increase by 1.5 times
after the clean-up call date.
(3) See "Available Funds Cap" below.
(4) The Class A-9 IO will be sole managed by BEAR STEARNS.
Seller and Servicer: ContiMortgage Corporation and ContiWest
Corporation
Trustee: Manufacturers and Traders Trust Company
Managers: BEAR STEARNS (lead), Credit Suisse First Boston,
Greenwich Capital Markets, Merrill Lynch, Paine
Webber (co-managers)
Structure: o The Class A-1 through A-6 Certificates will be
fixed rate sequential pay Certificates.
o The Class A-7 Certificates will be fixed rate
non-accelerating senior Certificates which will
receive principal based upon a scheduled lockout
percentage.
o The Class A-8 Certificates will be floating rate
certificates.
o All of the Class A Certificates will be rated
triple-A, based upon a Certificate guaranty
insurance policy from Ambac.
The Class B Certificates will be fixed-rate,
subordinate certificates. The Class B Certificates
will provide credit support to the triple-A fixed
and floating rate Certificates.
<PAGE>
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.
Collateral: There will be two collateral groups: Group I
($487.5 MM) will consist solely of fixed rate
collateral and will back Classes A-1 through A-7
and Class A-9 IO. Group II ($162.5 MM) will
consist of 6-month LIBOR ARM and hybrid ARM
collateral and will back Class A-8. Class B will
be back by both groups.
Cut-Off Date Close of Business, February 10, 1999.
Expected Pricing Date: February 25, 1999.
Expected Settlement: March 4, 1999 through DTC, Euroclear or CEDEL.
Accrued Interest: All of the fixed rate certificates will settle
with [3] days of accrued interest. The Class A-8
Certificates will settle flat.
Distribution Dates: The 25th of each month, beginning April, 1999.
Optional Call: 10% Clean-up call (10% of original aggregate
Group I and Group II loan balances).
Step-up Coupon: The Pass-Through Rate for the Class A-6,
Class A-7 and Class B Certificates will increase
by 0.50% for any Payment Date after the Clean-Up
Call Date.
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
[ ]% per annum, and (ii) for any Payment Date
thereafter, 1 Mo. LIBOR plus 1.5 X [ ]% per annum,
subject to the Group II Available Funds Cap.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 2
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap: Group I Available Funds Cap
---------------------------
The Class [A-4], Class [A-5], Class A-6 and Class
A-7 Certificates will be subject to an available
funds cap equal to the weighted average coupon
rate of the aggregate Group I Loans less the sum
of: (a) an amount, expressed as an annual
percentage rate across the the Group I 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) for the first 30 Payment Dates only, the
product of (i) [7.00]% per annum and (ii) the
Class A-9 IO Notional Principal Amount divided by
the aggregate Group I pool balance.
Group II 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 Adjustable Rate Home Equity
Loans less the sum of: (a) an amount, expressed as
an annual percentage rate across the aggregate
Adjustable Rate 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 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.
Class A-9 IO: The Class A-9 IO Certificates do not have a
Certificate Principal Balance but will accrue
interest on their Notional Amount. The "Notional
Amount" of the Class A-9 IO Certificates will
equal (a) on any Payment Date on or prior to the
30th Payment Date, the aggregate Certificate
Principal Balance of the A-7 Certificates and (b)
after the 30th Payment Date, zero.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 3
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Credit Enhancement for Fixed and Floating Rate Certificates
- -----------------------------------------------------------
o Class A-1 through A-8 Credit Enhancement:
1. Excess cash;
2. Overcollateralization building up to a requirement of 2.55% of the
aggregate original loan balance;
3. Subordination of Class B certificates, totaling 5.0% of the aggregate
original loan balance;
4. Ambac surety wrap.
o Class B Credit Enhancement:
1. Excess cash;
2. Overcollateralization building up to a requirement of 2.55% 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 2.55%
of the aggregate original loan balance of the Group I and Group II
Collateral (subject to the Ambac 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 5.10% 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 Ambac trigger events);
4. There will be no funding of the overcollateralization for the first 6
months of the transaction (until the October, 1999 Payment Date).
(3) Subordination
- -----------------
There will be a single class of Class B Certificates in an amount equal to 5.0%
of the aggregate Group I and Group II original loan balances 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 Ambac.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 4
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Cashflow Priority
- -----------------
o The two Loan Groups' cashflows will be aggregated to achieve the strongest
form of cross-collateralization. The overcollateralization will also be
calculated for the two Loan Groups together. Available funds to be
distributed to Certificateholders will consist of all interest collections
(net of the Servicing, Surety and Trustee fees) together with all principal
collections. The aggregate collections will be allocated first to
Certificate Interest and then to Certificate Principal.
Interest
1. Current Interest and Carry-Forward Interest to the Class A Certificates
2. Current Interest to the Class B Certificates
Available Funds (including monthly excess interest to build
overcollateralization) remaining after payment of Certificate Interest will be
allocated in the following priority if no trigger event is in effect:
1. Determine the Class A principal distribution amount for the Class A
Certificates per the Class A Optimal Balance Test (as described below).
2. Allocate the Class A principal distribution amount between the Class
A-1 through Class A-7 Certificates (Fixed Rate Group) and the Class A-8
Certificates (ARM Group) on the other hand based on the relative
collateral balance in each Loan Group.
A. Fixed Rate Group Class A principal distribution amount will be
allocated as follows:
(i) First to the Class A-7 Certificates, according to the following
lockout percentage schedule:
-------------- -------------------
Payment Lockout
Date Percentage
-------------- -------------------
1-36 0%
-------------- -------------------
37-60 45%
-------------- -------------------
61-72 80%
-------------- -------------------
73-84 100%
-------------- -------------------
85-end 300%
-------------- -------------------
(ii) Then sequentially to the Class A-1 through A-7 bonds until
retired;
B. The ARM Group Class A principal distribution amount will be
allocated to the Class A-8 floater until retired.
Class B Certificates
1. On or after the Step Down Date, or earlier, if all of the Class A
Certificates have been retired, remaining principal will be allocated
to the Class B Certificates per the Class B Optimal Balance Test
(described below). It is not expected that the Class B Certificates
will receive any principal until the Step Down Date.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 5
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Target Credit Enhancement on or after the Stepdown Date:
- --------------------------------------------------------
o Collections of Principal (including monthly excess interest) on and after
the stepdown date (April 2002 Payment Date), and if no trigger event is in
effect will be allocated in the following priority:
Pay Class A bonds and Class B in accordance with enhancement targets, equal
to 2 times the initial enhancement percentage for each class:
Targeted % of Pool Target Credit Enhancement
------------------ -------------------------
Class A 84.90% 15.10%
Class B 10.00% 5.10%
Overcollateralization 5.10%
-------
100.00%
Class A Optimal Balance 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 2.55% (based on the aggregate original loan balance). After the Stepdown
Date, the Class A Certificates receive collateral principal to maintain
15.10% credit enhancement (based on the amortizing loan balance).
Class B Optimal Balance Test:
- -----------------------------
o The Class B Certificates will not receive payments of principal until the
Stepdown Date, unless all the Class A Certificates have been retired. After
the Step Down Date, the Class B Certificates will receive collateral
interest to maintain 5.10% credit enhancement.
Step Down Date:
- ---------------
o The later of (a) the April 2002 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 Loan
Balance of Group I and Group II) is at least 15.10%.
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 Group I
and Group II 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 B Interest Carry Forward Amount
2. Unpaid Class B Realized Loss Amortization Amounts
3. Servicer for any unreimbursed Delinquency Advances or Servicing
Advances
4. Class R Certificates
Note: Interest will not accrue or be payable on any written down amounts with
- ---- respect to the Class B Certificates.
Available Funds Cap shortfalls will not be carried forward.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 6
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Delinquency Trigger:
- --------------------
o The targeted credit enhancement percentage will step up to be greater than
15.10% to the extent that the following result (such result being the
"Step-Up Credit Enhancement") exceeds 15.10%:
2 x [(1/2 x 90+ Day Delinquencies) - (3 x monthly excess spread)] such
amount expressed as a percentage of the aggregate current Group I and
Group II loan balance.
- 90+ Day Delinquencies include Bankruptcies, Foreclosures and REO.
- The 90+ Day Delinquencies and monthly excess spread values will be
based on a rolling 6-month average.
o In the event the delinquency trigger is hit, 100% of principal collections
plus excess spread will be used to pay the Class A Certificates until the
credit enhancement percentage equals the Step-Up Credit Enhancement
percentage.
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
April 1999 - March 2001 [1.05%]
April 2001 - March 2002 [1.80%]
April 2002 - March 2003 [2.40%]
April 2003 - March 2004 [2.85%]
April 2004 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
[3.00%] of the aggregate original loan balance of the Group I and Group II
Collateral.
Back- Up Servicer Trigger:
- -------------------------
o Ambac shall require ContiFinancial to retain a "hot" back-up servicer,
which shall be satisfactory to Ambac, for the 1999-1 REMIC by October 1,
1999, if ContiFinancial fails to satisfy the following conditions by such
date:
(1) Refinance or extend a substantial portion of ContiFinancial's
existing short term borrowing facilities;
(2) Extend, to an acceptable maturity, ContiFinancial's existing
subservicing agreement for REMIC delinquency advances with
Continental Grain Company or another party satisfactory to
ContiFinancial and Ambac; and
(3) Receive additional capital through Continental Grain Company or
third-party investors in an amount sufficient to maintain or improve
the current credit ratings and positive net worth of ContiFinancial.
If ContiFinancial fails to satisfy the above-referenced conditions and fails to
arrange for the back-up servicer on or prior to October 1, 1999, the surety
premium will increase by 4 bps and it is Ambac's intention to independently
retain a back-up servicer. Once the back-up servicer is in place, the
incremental 4 bps surety premium will not be applicable. Once ContiFinancial
satisfies the above-referenced conditions, the back-up servicer will no longer
be required.
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 7
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
SENSITIVITY TABLES
<TABLE>
<CAPTION>
Class A-I (to maturity)
- ---------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 9.10 2.24 1.40 1.02 0.85 0.77 0.69 0.63
Modified Duration (years) 6.37 2.00 1.30 0.96 0.81 0.73 0.66 0.60
First Principal Payment 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99
Last Principal Payment 12/25/13 11/25/03 11/25/01 01/25/01 08/25/00 06/25/00 05/25/00 03/25/00
Principal Lockout (months) 0 0 0 0 0 0 0 0
Principal Window (months) 177 56 32 22 17 15 14 12
Illustrative Yield @ Par (30/360) 6.25% 6.10% 5.99% 5.88% 5.80% 5.74% 5.68% 5.62%
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A-2 (to maturity)
- ---------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 15.02 6.80 3.84 2.56 2.00 1.76 1.53 1.36
Modified Duration (years) 9.37 5.33 3.30 2.29 1.83 1.62 1.42 1.27
First Principal Payment 12/25/13 11/25/03 11/25/01 01/25/01 08/25/00 06/25/00 05/25/00 03/25/00
Last Principal Payment 01/25/16 09/25/08 04/25/04 07/25/02 09/25/01 05/25/01 01/25/01 11/25/00
Principal Lockout (months) 176 55 31 21 16 14 13 11
Principal Window (months) 26 59 30 19 14 12 9 9
Illustrative Yield @ Par (30/360) 6.54% 6.51% 6.46% 6.40% 6.35% 6.32% 6.29% 6.25%
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A-3 (to maturity)
- ---------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 19.47 11.47 6.30 4.05 3.00 2.54 2.17 1.91
Modified Duration (years) 10.69 7.84 5.02 3.46 2.65 2.28 1.97 1.75
First Principal Payment 01/25/16 09/25/08 04/25/04 07/25/02 09/25/01 05/25/01 01/25/01 11/25/00
Last Principal Payment 04/25/21 08/25/12 11/25/06 12/25/03 10/25/02 01/25/02 08/25/01 04/25/01
Principal Lockout (months) 201 113 60 39 29 25 21 19
Principal Window (months) 64 48 32 18 14 9 8 6
Illustrative Yield @ Par (30/360) 6.65% 6.64% 6.60% 6.56% 6.53% 6.50% 6.47% 6.44%
==================================================================================================================================
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 8
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
SENSITIVITY TABLES
<TABLE>
<CAPTION>
Class A-4 (to maturity)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 23.52 14.44 8.88 5.35 4.00 3.27 2.63 2.29
Modified Duration (years) 11.54 9.01 6.51 4.38 3.42 2.86 2.35 2.07
First Principal Payment 04/25/21 08/25/12 11/25/06 12/25/03 10/25/02 01/25/02 08/25/01 04/25/01
Last Principal Payment 12/25/23 12/25/13 03/25/09 02/25/05 07/25/03 11/25/02 12/25/01 08/25/01
Principal Lockout (months) 264 160 91 56 42 33 28 24
Principal Window (months) 33 17 29 15 10 11 5 5
Illustrative Yield @ Par (30/360) 6.79% 6.78% 6.76% 6.72% 6.69% 6.67% 6.64% 6.61%
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A-5 (to maturity)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 25.92 15.09 11.39 6.95 5.00 4.21 3.26 2.64
Modified Duration (years) 11.96 9.24 7.74 5.40 4.13 3.57 2.85 2.35
First Principal Payment 12/25/23 12/25/13 03/25/09 02/25/05 07/25/03 11/25/02 12/25/01 08/25/01
Last Principal Payment 02/25/26 07/25/15 01/25/12 07/25/07 11/25/04 11/25/03 01/25/03 12/25/01
Principal Lockout (months) 296 176 119 70 51 43 32 28
Principal Window (months) 27 20 35 30 17 13 14 5
Illustrative Yield @ Par (30/360) 6.81% 6.80% 6.79% 6.76% 6.74% 6.72% 6.69% 6.66%
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A-6 (to maturity)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 28.47 21.88 16.34 11.96 8.97 7.35 5.73 4.27
Modified Duration (years) 11.95 10.77 9.36 7.77 6.35 5.47 4.51 3.54
First Principal Payment 02/25/26 07/25/15 01/25/12 07/25/07 11/25/04 11/25/03 01/25/03 12/25/01
Last Principal Payment 11/25/28 03/25/28 07/25/24 12/25/17 12/25/13 09/25/12 08/25/10 12/25/08
Principal Lockout (months) 322 195 153 99 67 55 45 32
Principal Window (months) 34 153 151 126 110 107 92 85
Illustrative Yield @ Par (30/360) 7.16% 7.18% 7.19% 7.21% 7.21% 7.19% 7.16% 7.11%
===================================================================================================================================
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 9
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
SENSITIVITY TABLES
<TABLE>
<CAPTION>
Class A-7 (to maturity)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 12.26 8.88 7.71 6.92 6.50 6.32 6.15 6.04
Modified Duration (years) 7.98 6.35 5.74 5.30 5.06 4.95 4.85 4.78
First Principal Payment 04/25/02 04/25/02 04/25/02 04/25/02 05/25/02 07/25/02 09/25/02 11/25/02
Last Principal Payment 12/25/13 12/25/13 12/25/13 12/25/13 12/25/13 07/25/12 06/25/10 10/25/08
Principal Lockout (months) 36 36 36 36 37 39 41 43
Principal Window (months) 141 141 141 141 140 121 94 72
Illustrative Yield @ Par (30/360) 6.86% 6.85% 6.84% 6.84% 6.85% 6.88% 6.91% 6.95%
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class B (to maturity)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 24.47 14.60 9.53 6.58 5.12 4.51 4.06 3.83
Modified Duration (years) 9.94 7.89 6.11 4.72 3.92 3.56 3.30 3.15
First Principal Payment 02/25/16 02/25/07 09/25/03 04/25/02 04/25/02 04/25/02 05/25/02 05/25/02
Last Principal Payment 06/25/28 06/25/24 10/25/16 09/25/12 07/25/09 12/25/07 07/25/06 06/25/05
Principal Lockout (months) 202 94 53 36 36 36 37 37
Principal Window (months) 149 209 158 126 88 69 51 38
Illustrative Yield @ Par (30/360) 8.60% 8.59% 8.57% 8.55% 8.53% 8.51% 8.50% 8.49%
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A-8 (to maturity)
- -----------------------------------------------------------------------------------------------------------------------------------
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 20.64 8.74 4.98 3.40 2.56 2.05 1.69 1.43
Modified Duration (years) 11.37 5.97 3.87 2.83 2.22 1.82 1.53 1.32
First Principal Payment 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99
Last Principal Payment 11/25/28 03/25/28 07/25/24 12/25/17 12/25/13 09/25/12 08/25/10 12/25/08
Principal Lockout (months) 0 0 0 0 0 0 0 0
Principal Window (months) 356 348 304 225 177 162 137 117
Illustrative Yield @ Par 5.64% 5.65% 5.65% 5.65% 5.66% 5.65% 5.65% 5.65%
===================================================================================================================================
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 10
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
SENSITIVITY TABLES
<TABLE>
<CAPTION>
Class A-6 (to call)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 27.98 18.71 13.74 9.30 6.84 5.73 4.72 3.79
Modified Duration (years) 11.88 10.10 8.56 6.63 5.28 4.58 3.90 3.23
First Principal Payment 02/25/26 07/25/15 01/25/12 07/25/07 11/25/04 11/25/03 01/25/03 12/25/01
Last Principal Payment 05/25/27 04/25/18 12/25/12 07/25/08 04/25/06 03/25/05 03/25/04 06/25/03
Principal Lockout (months) 322 195 153 99 67 55 45 32
Principal Window (months) 16 34 12 13 18 17 15 19
Illustrative Yield @ Par (30/360) 7.16% 7.15% 7.14% 7.12% 7.11% 7.09% 7.08% 7.05%
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A-7 (to call)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 12.26 8.88 7.70 6.80 6.09 5.50 4.85 4.27
Modified Duration (years) 7.98 6.35 5.73 5.24 4.83 4.46 4.02 3.61
First Principal Payment 04/25/02 04/25/02 04/25/02 04/25/02 05/25/02 07/25/02 09/25/02 11/25/02
Last Principal Payment 12/25/13 12/25/13 12/25/12 07/25/08 04/25/06 03/25/05 03/25/04 06/25/03
Principal Lockout (months) 36 36 36 36 37 39 41 43
Principal Window (months) 141 141 129 76 48 33 19 8
Illustrative Yield @ Par (30/360) 6.86% 6.85% 6.84% 6.83% 6.82% 6.82% 6.81% 6.79%
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class B (to call)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 24.36 14.04 9.26 6.23 4.85 4.28 3.87 3.67
Modified Duration (years) 9.93 7.79 6.03 4.58 3.79 3.44 3.18 3.05
First Principal Payment 02/25/16 02/25/07 09/25/03 04/25/02 04/25/02 04/25/02 05/25/02 05/25/02
Last Principal Payment 05/25/27 04/25/18 12/25/12 07/25/08 04/25/06 03/25/05 03/25/04 06/25/03
Principal Lockout (months) 202 94 53 36 36 36 37 37
Principal Window (months) 136 135 112 76 49 36 23 14
Illustrative Yield @ Par (30/360) 8.60% 8.58% 8.56% 8.53% 8.50% 8.49% 8.47% 8.47%
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A-8 (to call)
- -----------------------------------------------------------------------------------------------------------------------------------
% FRM PPC 0% 35% 65% 100% 130% 150% 175% 200%
% ARM PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Average Life (years) 20.53 8.22 4.76 3.24 2.46 1.99 1.65 1.41
Modified Duration (years) 11.34 5.81 3.78 2.75 2.16 1.78 1.51 1.30
First Principal Payment 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99 04/25/99
Last Principal Payment 05/25/27 04/25/18 12/25/12 07/25/08 04/25/06 03/25/05 03/25/04 06/25/03
Principal Lockout (months) 0 0 0 0 0 0 0 0
Principal Window (months) 338 229 165 112 85 72 60 51
Illustrative Yield @ Par 5.63% 5.64% 5.64% 5.64% 5.64% 5.64% 5.64% 5.64%
===================================================================================================================================
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 11
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-1
-----------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 93 76 62 45 31 21 9 0
3/25/01 86 50 21 0 0 0 0 0
3/25/02 83 29 0 0 0 0 0 0
3/25/03 79 11 0 0 0 0 0 0
3/25/04 75 0 0 0 0 0 0 0
3/25/05 70 0 0 0 0 0 0 0
3/25/06 65 0 0 0 0 0 0 0
3/25/07 61 0 0 0 0 0 0 0
3/25/08 55 0 0 0 0 0 0 0
3/25/09 50 0 0 0 0 0 0 0
3/25/10 44 0 0 0 0 0 0 0
3/25/11 37 0 0 0 0 0 0 0
3/25/12 30 0 0 0 0 0 0 0
3/25/13 21 0 0 0 0 0 0 0
3/25/14 0 0 0 0 0 0 0 0
3/25/15 0 0 0 0 0 0 0 0
3/25/16 0 0 0 0 0 0 0 0
3/25/17 0 0 0 0 0 0 0 0
3/25/18 0 0 0 0 0 0 0 0
3/25/19 0 0 0 0 0 0 0 0
3/25/20 0 0 0 0 0 0 0 0
3/25/21 0 0 0 0 0 0 0 0
3/25/22 0 0 0 0 0 0 0 0
3/25/23 0 0 0 0 0 0 0 0
3/25/24 0 0 0 0 0 0 0 0
3/25/25 0 0 0 0 0 0 0 0
3/25/26 0 0 0 0 0 0 0 0
3/25/27 0 0 0 0 0 0 0 0
3/25/28 0 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 9.10 2.24 1.40 1.02 0.85 0.77 0.69 0.63
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 12
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-2
---------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 100 100 100 100 100 100 100 94
3/25/01 100 100 100 82 39 11 0 0
3/25/02 100 100 81 13 0 0 0 0
3/25/03 100 100 37 0 0 0 0 0
3/25/04 100 88 2 0 0 0 0 0
3/25/05 100 63 0 0 0 0 0 0
3/25/06 100 39 0 0 0 0 0 0
3/25/07 100 22 0 0 0 0 0 0
3/25/08 100 7 0 0 0 0 0 0
3/25/09 100 0 0 0 0 0 0 0
3/25/10 100 0 0 0 0 0 0 0
3/25/11 100 0 0 0 0 0 0 0
3/25/12 100 0 0 0 0 0 0 0
3/25/13 100 0 0 0 0 0 0 0
3/25/14 17 0 0 0 0 0 0 0
3/25/15 8 0 0 0 0 0 0 0
3/25/16 0 0 0 0 0 0 0 0
3/25/17 0 0 0 0 0 0 0 0
3/25/18 0 0 0 0 0 0 0 0
3/25/19 0 0 0 0 0 0 0 0
3/25/20 0 0 0 0 0 0 0 0
3/25/21 0 0 0 0 0 0 0 0
3/25/22 0 0 0 0 0 0 0 0
3/25/23 0 0 0 0 0 0 0 0
3/25/24 0 0 0 0 0 0 0 0
3/25/25 0 0 0 0 0 0 0 0
3/25/26 0 0 0 0 0 0 0 0
3/25/27 0 0 0 0 0 0 0 0
3/25/28 0 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 15.02 6.80 3.84 2.56 2.00 1.76 1.53 1.36
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 13
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-3
------------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 100 100 100 100 100 100 100 100
3/25/01 100 100 100 100 100 100 62 8
3/25/02 100 100 100 100 29 0 0 0
3/25/03 100 100 100 45 0 0 0 0
3/25/04 100 100 100 0 0 0 0 0
3/25/05 100 100 56 0 0 0 0 0
3/25/06 100 100 16 0 0 0 0 0
3/25/07 100 100 0 0 0 0 0 0
3/25/08 100 100 0 0 0 0 0 0
3/25/09 100 85 0 0 0 0 0 0
3/25/10 100 59 0 0 0 0 0 0
3/25/11 100 34 0 0 0 0 0 0
3/25/12 100 9 0 0 0 0 0 0
3/25/13 100 0 0 0 0 0 0 0
3/25/14 100 0 0 0 0 0 0 0
3/25/15 100 0 0 0 0 0 0 0
3/25/16 96 0 0 0 0 0 0 0
3/25/17 78 0 0 0 0 0 0 0
3/25/18 58 0 0 0 0 0 0 0
3/25/19 35 0 0 0 0 0 0 0
3/25/20 18 0 0 0 0 0 0 0
3/25/21 0 0 0 0 0 0 0 0
3/25/22 0 0 0 0 0 0 0 0
3/25/23 0 0 0 0 0 0 0 0
3/25/24 0 0 0 0 0 0 0 0
3/25/25 0 0 0 0 0 0 0 0
3/25/26 0 0 0 0 0 0 0 0
3/25/27 0 0 0 0 0 0 0 0
3/25/28 0 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 19.47 11.47 6.30 4.05 3.00 2.54 2.17 1.91
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 14
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-4
---------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 100 100 100 100 100 100 100 100
3/25/01 100 100 100 100 100 100 100 100
3/25/02 100 100 100 100 100 50 0 0
3/25/03 100 100 100 100 37 0 0 0
3/25/04 100 100 100 70 0 0 0 0
3/25/05 100 100 100 0 0 0 0 0
3/25/06 100 100 100 0 0 0 0 0
3/25/07 100 100 85 0 0 0 0 0
3/25/08 100 100 40 0 0 0 0 0
3/25/09 100 100 0 0 0 0 0 0
3/25/10 100 100 0 0 0 0 0 0
3/25/11 100 100 0 0 0 0 0 0
3/25/12 100 100 0 0 0 0 0 0
3/25/13 100 74 0 0 0 0 0 0
3/25/14 100 0 0 0 0 0 0 0
3/25/15 100 0 0 0 0 0 0 0
3/25/16 100 0 0 0 0 0 0 0
3/25/17 100 0 0 0 0 0 0 0
3/25/18 100 0 0 0 0 0 0 0
3/25/19 100 0 0 0 0 0 0 0
3/25/20 100 0 0 0 0 0 0 0
3/25/21 100 0 0 0 0 0 0 0
3/25/22 67 0 0 0 0 0 0 0
3/25/23 29 0 0 0 0 0 0 0
3/25/24 0 0 0 0 0 0 0 0
3/25/25 0 0 0 0 0 0 0 0
3/25/26 0 0 0 0 0 0 0 0
3/25/27 0 0 0 0 0 0 0 0
3/25/28 0 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 23.52 14.44 8.88 5.35 4.00 3.27 2.63 2.29
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 15
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-5
------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 100 100 100 100 100 100 100 100
3/25/01 100 100 100 100 100 100 100 100
3/25/02 100 100 100 100 100 100 40 0
3/25/03 100 100 100 100 100 60 0 0
3/25/04 100 100 100 100 39 0 0 0
3/25/05 100 100 100 92 0 0 0 0
3/25/06 100 100 100 35 0 0 0 0
3/25/07 100 100 100 8 0 0 0 0
3/25/08 100 100 100 0 0 0 0 0
3/25/09 100 100 97 0 0 0 0 0
3/25/10 100 100 59 0 0 0 0 0
3/25/11 100 100 25 0 0 0 0 0
3/25/12 100 100 0 0 0 0 0 0
3/25/13 100 100 0 0 0 0 0 0
3/25/14 100 29 0 0 0 0 0 0
3/25/15 100 7 0 0 0 0 0 0
3/25/16 100 0 0 0 0 0 0 0
3/25/17 100 0 0 0 0 0 0 0
3/25/18 100 0 0 0 0 0 0 0
3/25/19 100 0 0 0 0 0 0 0
3/25/20 100 0 0 0 0 0 0 0
3/25/21 100 0 0 0 0 0 0 0
3/25/22 100 0 0 0 0 0 0 0
3/25/23 100 0 0 0 0 0 0 0
3/25/24 87 0 0 0 0 0 0 0
3/25/25 43 0 0 0 0 0 0 0
3/25/26 0 0 0 0 0 0 0 0
3/25/27 0 0 0 0 0 0 0 0
3/25/28 0 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 25.92 15.09 11.39 6.95 5.00 4.21 3.26 2.64
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 16
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-6
------------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 100 100 100 100 100 100 100 100
3/25/01 100 100 100 100 100 100 100 100
3/25/02 100 100 100 100 100 100 100 68
3/25/03 100 100 100 100 100 100 88 49
3/25/04 100 100 100 100 100 84 46 17
3/25/05 100 100 100 100 87 55 27 7
3/25/06 100 100 100 100 63 38 17 4
3/25/07 100 100 100 100 55 35 17 4
3/25/08 100 100 100 87 44 26 11 3
3/25/09 100 100 100 70 33 17 5 0
3/25/10 100 100 100 55 23 10 1 0
3/25/11 100 100 100 43 15 5 0 0
3/25/12 100 100 97 33 9 1 0 0
3/25/13 100 100 81 25 5 0 0 0
3/25/14 100 100 44 10 0 0 0 0
3/25/15 100 100 36 6 0 0 0 0
3/25/16 100 92 30 3 0 0 0 0
3/25/17 100 80 24 1 0 0 0 0
3/25/18 100 70 19 0 0 0 0 0
3/25/19 100 59 14 0 0 0 0 0
3/25/20 100 52 10 0 0 0 0 0
3/25/21 100 44 7 0 0 0 0 0
3/25/22 100 38 5 0 0 0 0 0
3/25/23 100 31 2 0 0 0 0 0
3/25/24 100 25 1 0 0 0 0 0
3/25/25 100 18 0 0 0 0 0 0
3/25/26 96 12 0 0 0 0 0 0
3/25/27 64 6 0 0 0 0 0 0
3/25/28 29 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 28.47 21.88 16.34 11.96 8.97 7.35 5.73 4.27
(to call) 27.98 18.71 13.74 9.30 6.84 5.73 4.72 3.79
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 17
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-7
-----------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 100 100 100 100 100 100 100 100
3/25/01 100 100 100 100 100 100 100 100
3/25/02 100 100 100 100 100 100 100 100
3/25/03 99 96 92 90 89 89 89 91
3/25/04 99 92 86 81 77 75 73 72
3/25/05 97 84 76 67 60 56 51 47
3/25/06 95 76 64 52 43 38 33 25
3/25/07 88 54 39 25 16 12 9 9
3/25/08 81 40 24 12 6 4 1 0
3/25/09 74 30 14 5 2 1 0 0
3/25/10 67 22 9 2 1 0 0 0
3/25/11 60 16 5 1 0 0 0 0
3/25/12 52 11 3 0 0 0 0 0
3/25/13 45 8 2 0 0 0 0 0
3/25/14 0 0 0 0 0 0 0 0
3/25/15 0 0 0 0 0 0 0 0
3/25/16 0 0 0 0 0 0 0 0
3/25/17 0 0 0 0 0 0 0 0
3/25/18 0 0 0 0 0 0 0 0
3/25/19 0 0 0 0 0 0 0 0
3/25/20 0 0 0 0 0 0 0 0
3/25/21 0 0 0 0 0 0 0 0
3/25/22 0 0 0 0 0 0 0 0
3/25/23 0 0 0 0 0 0 0 0
3/25/24 0 0 0 0 0 0 0 0
3/25/25 0 0 0 0 0 0 0 0
3/25/26 0 0 0 0 0 0 0 0
3/25/27 0 0 0 0 0 0 0 0
3/25/28 0 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 12.26 8.88 7.71 6.92 6.50 6.32 6.15 6.04
(to call) 12.26 8.88 7.70 6.80 6.09 5.50 4.85 4.27
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 18
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class B
-----------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 100 100 100 100 100 100 100 100
3/25/01 100 100 100 100 100 100 100 100
3/25/02 100 100 100 100 100 100 100 100
3/25/03 100 100 100 77 56 43 31 22
3/25/04 100 100 92 60 40 29 20 10
3/25/05 100 100 78 47 28 19 8 1
3/25/06 100 100 66 36 20 10 2 0
3/25/07 100 99 56 28 12 3 0 0
3/25/08 100 89 47 22 6 0 0 0
3/25/09 100 81 39 15 1 0 0 0
3/25/10 100 73 33 9 0 0 0 0
3/25/11 100 65 28 5 0 0 0 0
3/25/12 100 58 23 1 0 0 0 0
3/25/13 100 52 19 0 0 0 0 0
3/25/14 100 34 7 0 0 0 0 0
3/25/15 100 30 4 0 0 0 0 0
3/25/16 99 26 1 0 0 0 0 0
3/25/17 94 23 0 0 0 0 0 0
3/25/18 89 20 0 0 0 0 0 0
3/25/19 83 16 0 0 0 0 0 0
3/25/20 77 12 0 0 0 0 0 0
3/25/21 72 9 0 0 0 0 0 0
3/25/22 65 6 0 0 0 0 0 0
3/25/23 58 3 0 0 0 0 0 0
3/25/24 50 1 0 0 0 0 0 0
3/25/25 42 0 0 0 0 0 0 0
3/25/26 32 0 0 0 0 0 0 0
3/25/27 21 0 0 0 0 0 0 0
3/25/28 4 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 24.47 14.60 9.53 6.58 5.12 4.51 4.06 3.83
(to call) 24.36 14.04 9.26 6.23 4.85 4.28 3.87 3.67
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 19
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
DECREMENT TABLES
<TABLE>
<CAPTION>
Class A-8
------------------------------------------------------------------------------------------------
%PPC 0% 35% 65% 100% 130% 150% 175% 200%
%PPC 0% 25% 50% 75% 100% 125% 150% 175%
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Payment Date
Intitial Percentage 100 100 100 100 100 100 100 100
3/25/00 98 92 86 80 74 68 62 56
3/25/01 96 82 68 56 45 35 26 19
3/25/02 95 73 55 39 27 18 11 6
3/25/03 95 66 44 29 18 11 6 3
3/25/04 94 59 36 21 12 6 3 1
3/25/05 93 53 29 16 8 3 1 0
3/25/06 92 47 24 11 5 2 1 0
3/25/07 91 42 19 8 3 1 0 0
3/25/08 90 38 16 6 2 1 0 0
3/25/09 89 34 13 4 1 0 0 0
3/25/10 87 31 10 3 1 0 0 0
3/25/11 85 28 9 2 0 0 0 0
3/25/12 84 25 7 2 0 0 0 0
3/25/13 81 22 6 1 0 0 0 0
3/25/14 76 20 4 1 0 0 0 0
3/25/15 73 17 4 0 0 0 0 0
3/25/16 70 15 3 0 0 0 0 0
3/25/17 68 13 2 0 0 0 0 0
3/25/18 65 12 2 0 0 0 0 0
3/25/19 62 10 1 0 0 0 0 0
3/25/20 58 9 1 0 0 0 0 0
3/25/21 54 7 1 0 0 0 0 0
3/25/22 49 6 0 0 0 0 0 0
3/25/23 44 5 0 0 0 0 0 0
3/25/24 38 4 0 0 0 0 0 0
3/25/25 31 3 0 0 0 0 0 0
3/25/26 24 2 0 0 0 0 0 0
3/25/27 16 1 0 0 0 0 0 0
3/25/28 6 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 20.64 8.74 4.98 3.40 2.56 2.05 1.69 1.43
(to call) 20.53 8.22 4.76 3.24 2.46 1.99 1.65 1.41
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 20
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
1 15.398 15.276
2 9.449 9.115
3 9.498 9.108
4 9.516 9.101
5 9.525 9.093
6 9.525 9.083
7 9.050 9.072
8 9.098 9.061
9 9.148 9.048
10 9.166 9.034
11 9.176 9.020
12 9.177 9.005
13 9.178 8.990
14 9.181 8.974
15 9.187 8.958
16 9.191 8.941
17 9.193 8.924
18 9.194 8.907
19 9.195 8.889
20 10.109 8.871
21 10.111 8.852
22 10.112 8.833
23 10.112 8.812
24 10.113 8.792
25 10.114 8.770
26 10.115 8.748
27 10.115 8.726
28 10.116 8.703
29 10.117 8.679
30 10.118 8.655
31 10.119 9.634
32 10.120 9.635
33 10.354 9.636
34 10.355 9.637
35 10.356 9.638
36 10.357 9.639
37 10.358 9.640
38 10.352 9.635
39 10.349 9.631
40 10.349 9.631
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 21
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
41 10.349 9.631
42 10.349 9.631
43 10.349 9.631
44 10.349 9.631
45 10.349 9.631
46 10.349 9.631
47 10.349 9.631
48 10.349 9.630
49 10.349 9.630
50 10.349 9.630
51 10.349 9.630
52 10.349 9.630
53 10.349 9.630
54 10.348 9.630
55 10.348 9.630
56 10.348 9.630
57 10.348 9.630
58 10.348 9.629
59 10.348 9.629
60 10.348 9.629
61 10.348 9.629
62 10.348 9.629
63 10.348 9.629
64 10.347 9.629
65 10.347 9.629
66 10.347 9.628
67 10.347 9.628
68 10.347 9.628
69 10.347 9.628
70 10.347 9.628
71 10.347 9.628
72 10.346 9.628
73 10.346 9.627
74 10.346 9.627
75 10.346 9.627
76 10.346 9.627
77 10.346 9.627
78 10.346 9.626
79 10.345 9.626
80 10.345 9.626
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 22
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
81 10.345 9.626
82 10.345 9.626
83 10.345 9.625
84 10.345 9.625
85 10.344 9.625
86 10.344 9.625
87 10.344 9.624
88 10.344 9.624
89 10.343 9.624
90 10.343 9.624
91 10.343 9.623
92 10.343 9.623
93 10.343 9.623
94 10.342 9.623
95 10.342 9.622
96 10.342 9.622
97 10.341 9.622
98 10.341 9.621
99 10.341 9.621
100 10.341 9.621
101 10.340 9.620
102 10.340 9.620
103 10.340 9.620
104 10.339 9.619
105 10.339 9.619
106 10.339 9.618
107 10.338 9.618
108 10.338 9.618
109 10.337 9.617
110 10.337 9.617
111 10.337 9.616
112 10.336 9.616
113 10.336 9.615
114 10.335 9.615
115 10.335 9.614
116 10.334 9.614
117 10.334 9.613
118 10.333 9.613
119 10.333 9.612
120 10.332 9.612
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 23
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
121 10.332 9.609
122 10.331 9.608
123 10.331 9.608
124 10.330 9.607
125 10.330 9.607
126 10.330 9.607
127 10.330 9.607
128 10.331 9.608
129 10.331 9.608
130 10.331 9.608
131 10.331 9.608
132 10.332 9.609
133 10.332 9.609
134 10.332 9.609
135 10.333 9.610
136 10.333 9.610
137 10.333 9.610
138 10.334 9.611
139 10.334 9.611
140 10.334 9.611
141 10.335 9.612
142 10.335 9.612
143 10.336 9.613
144 10.336 9.613
145 10.337 9.613
146 10.337 9.614
147 10.337 9.614
148 10.338 9.615
149 10.338 9.615
150 10.339 9.616
151 10.339 9.616
152 10.340 9.617
153 10.340 9.617
154 10.341 9.618
155 10.342 9.619
156 10.342 9.619
157 10.343 9.620
158 10.343 9.620
159 10.344 9.621
160 10.345 9.622
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 24
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
161 10.346 9.622
162 10.346 9.623
163 10.347 9.624
164 10.348 9.625
165 10.349 9.625
166 10.349 9.626
167 10.350 9.627
168 10.351 9.628
169 10.352 9.629
170 10.353 9.630
171 10.354 9.631
172 10.355 9.632
173 10.356 9.633
174 10.357 9.634
175 10.358 9.635
176 10.359 9.636
177 10.360 9.637
178 10.523 9.574
179 10.523 9.574
180 10.523 9.574
181 10.523 9.574
182 10.523 9.574
183 10.523 9.574
184 10.523 9.574
185 10.523 9.574
186 10.523 9.574
187 10.523 9.573
188 10.523 9.573
189 10.523 9.573
190 10.523 9.573
191 10.523 9.573
192 10.524 9.573
193 10.523 9.573
194 10.523 9.573
195 10.523 9.573
196 10.523 9.572
197 10.523 9.572
198 10.523 9.572
199 10.523 9.572
200 10.523 9.572
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 25
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
201 10.523 9.572
202 10.523 9.572
203 10.524 9.571
204 10.524 9.571
205 10.524 9.571
206 10.524 9.571
207 10.524 9.571
208 10.523 9.571
209 10.524 9.571
210 10.524 9.570
211 10.524 9.570
212 10.523 9.570
213 10.524 9.570
214 10.524 9.570
215 10.523 9.570
216 10.523 9.569
217 10.523 9.569
218 10.524 9.569
219 10.524 9.569
220 10.523 9.569
221 10.523 9.568
222 10.523 9.568
223 10.524 9.568
224 10.523 9.568
225 10.523 9.568
226 10.524 9.567
227 10.524 9.567
228 10.523 9.567
229 10.524 9.567
230 10.524 9.567
231 10.524 9.566
232 10.524 9.566
233 10.523 9.566
234 10.524 9.566
235 10.523 9.565
236 10.524 9.565
237 10.524 9.565
238 10.524 9.565
239 10.524 9.564
240 10.523 9.564
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 26
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
241 10.524 9.564
242 10.523 9.564
243 10.524 9.564
244 10.523 9.563
245 10.524 9.563
246 10.524 9.563
247 10.524 9.563
248 10.523 9.563
249 10.524 9.563
250 10.524 9.563
251 10.524 9.563
252 10.523 9.563
253 10.523 9.563
254 10.524 9.563
255 10.524 9.563
256 10.524 9.563
257 10.525 9.563
258 10.524 9.563
259 10.524 9.563
260 10.524 9.563
261 10.524 9.563
262 10.524 9.563
263 10.523 9.563
264 10.525 9.563
265 10.524 9.563
266 10.525 9.563
267 10.524 9.563
268 10.523 9.563
269 10.525 9.563
270 10.524 9.563
271 10.524 9.563
272 10.524 9.563
273 10.524 9.563
274 10.523 9.563
275 10.523 9.563
276 10.524 9.563
277 10.524 9.563
278 10.523 9.563
279 10.522 9.563
280 10.524 9.563
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 27
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
281 10.525 9.563
282 10.523 9.563
283 10.525 9.563
284 10.526 9.563
285 10.524 9.563
286 10.524 9.563
287 10.521 9.563
288 10.525 9.563
289 10.522 9.563
290 10.527 9.563
291 10.526 9.563
292 10.520 9.563
293 10.524 9.563
294 10.521 9.563
295 10.525 9.563
296 10.523 9.563
297 10.525 9.563
298 10.523 9.563
299 10.527 9.563
300 10.521 9.563
301 10.525 9.563
302 10.519 9.563
303 10.518 9.563
304 10.533 9.563
305 10.524 9.563
306 10.534 9.563
307 10.527 9.563
308 10.524 9.563
309 10.525 9.563
310 10.533 9.563
311 10.526 9.563
312 10.515 9.563
313 10.514 9.563
314 10.526 9.563
315 10.525 9.563
316 10.525 9.563
317 10.512 9.563
318 10.537 9.563
319 10.516 9.563
320 10.518 9.563
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 28
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
- -------------------
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
321 10.510 9.563
322 10.512 9.563
323 10.552 9.563
324 10.513 9.563
325 10.514 9.563
326 10.508 9.563
327 10.496 9.563
328 10.541 9.563
329 10.486 9.563
330 10.494 9.563
331 10.504 9.563
332 10.517 9.563
333 10.489 9.563
334 10.561 9.563
335 10.546 9.563
336 10.538 9.563
337 10.544 9.563
338 10.499 9.563
339 10.468 9.563
340 10.537 9.563
341 10.473 9.563
342 10.431 9.563
343 10.535 9.563
344 10.470 9.563
345 10.590 9.562
346 10.503 9.564
347 10.659 9.562
348 10.558 9.562
349 10.553 9.562
350 10.420 9.562
351 10.432 9.561
352 10.266 9.566
353 10.371 9.561
354 10.254 9.560
355 9.377 9.560
356 13.618 9.569
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 29
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Collateral Description (Fixed Rate Collateral)
o Collateral statistics are based on the collateral pool as of close of business
02/10/99 (the "Cut-off Date").
Fixed Rate Collateral
---------------------
Total Outstanding Balance: $487,477,925.78
Number of Loans: 6,859
Average Remaining Balance: $71,071.28 (range: $3,327.20 -
$411,762.96)
Interest Rate Index: 100.00% fixed-rate loans
WA Gross Coupon: 10.31% (range: 6.85% - 18.99%)
Original Weighted Average Term: 327.3 months (range: 60 - 360 months)
Remaining Weighted Average Term: 325.0 months (range: 20 - 361 months)
WA Seasoning: 2.54 months (range: 0 - 114 months)
WA Lien Position: 92.48% first, 7.52% second
WA Original LTV Ratio: 75.43% (range: 5% - 95%)
WA Original CLTV Ratio: 79.55% (range: 8% - 100%)
WA Debt to Income Ratio: 37.87% (range: 1% - 77%)
Credit Grade: 74.00% A,
16.67% B,
8.31% C,
1.02% D
<PAGE>
Documentation: 87.94% full doc,
8.25% limited doc,
3.81% no doc
Property Type: 1.95% single family attached,
87.91% single family detached,
4.80% 2-4 family,
1.70% PUD,
0.62% condo,
2.84% man. Housing,
0.19% mixed use
Owner Occupancy: 95.59% owner occupied, 4.41% investor
owned
Loan Purpose: 24.50 cash out refi,
50.39% debt consolidation,
3.16% home improvement,
6.89% purchase,
15.05% other
Geographic Distribution: MI (9.02%), IL (7.05%), OH (6.91%),
(all states >= 5.00%) CA (6.58%), PA (6.58%), FL (5.67%), NC
(5.49%), NY (5.23%)
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 30
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Collateral Description: (Adjustable Rate Collateral)
o Collateral statistics are based on the collateral pool as of close of business
02/10/99 (the "Cut-off Date").
ARM Collateral
--------------
Total Outstanding Balance: $162,522,163.27
Number of Loans: 1,783
Average Remaining Balance: $91,150.96 (range: $14,944.95 -
$403,192.19)
Interest Rate Index: 66.20% 2/28 LIBOR
19.33% 3/27 LIBOR
14.47% 6 month LIBOR
WA Gross Coupon: 10.07% (range: 6.90% - 15.80%)
WA Gross Margin / 6.466% / 16.519%
WA Life Cap:
WA Initial Periodic Interest 2.642% (range: 1.00% - 6.00%)
Rate Caps:
WA Months to Roll 20.27 months (range: 0 - 37
(Cut-Off Date 2/11/99): months)
Original Weighted Average Term: 360.0 Months (range: 360 - 360
months)
Remaining Weighted Average Term: 356.5 Months (range: 337 - 361
months)
WA Seasoning: 3.61 Months (range: 0 - 23
months)
WA Lien Position: 100% first lien
WA Original LTV Ratio: 79.60% (range: 15% - 100%)
WA Original CLTV Ratio: 79.60% (range: 15% - 100%)
WA Debt to Income Ratio: 39.19% (range: 4 % - 68%)
Credit Grade: 61.41% A,
20.52% B,
17.08% C,
1.00% D
<PAGE>
Documentation: 85.11% full doc,
7.71% limited doc,
7.17% no doc
Property Type: 1.12% single family attached,
84.12% single family detached,
5.99% 2-4 family,
4.10% PUD,
1.58% condo,
3.05% man. Housing,
0.04% mixed use
Owner Occupancy: 92.23% owner occupied, 7.67%
investor owned
Loan Purpose: 27.42% cash out refi
35.71% debt consolidation,
2.66% home improvement,
23.92% purchase,
10.29% other
Geographic Distribution: (all states >=5.00%) MI (15.82%), CA (14.33%), OH
(9.03%), IL (8.86% )
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 31
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
Geographic Distribution of Mortgaged Properties - Fixed Rate Loans
<TABLE>
<CAPTION>
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Arizona 190 $ 15,216,379.74 3.12 %
Arkansas 32 1,436,918.85 0.29
California 305 32,067,765.17 6.58
Colorado 106 8,856,716.93 1.82
Connecticut 40 3,566,282.93 0.73
Delaware 13 813,912.31 0.17
District of Columbia 18 1,433,086.23 0.29
Florida 412 27,624,008.98 5.67
Georgia 289 19,631,558.07 4.03
Idaho 26 1,534,281.69 0.31
Illinois 454 34,368,009.38 7.05
Indiana 350 19,826,354.16 4.07
Iowa 47 2,327,856.90 0.48
Kansas 27 1,712,813.59 0.35
Kentucky 152 10,035,571.39 2.06
Louisiana 97 5,627,902.46 1.15
Maine 16 989,387.47 0.20
Maryland 182 15,056,913.06 3.09
Massachusetts 131 11,021,103.22 2.26
Michigan 700 43,953,886.51 9.02
Minnesota 79 6,829,744.96 1.40
Mississippi 66 3,565,502.64 0.73
Missouri 118 6,663,588.73 1.37
Montana 6 296,338.20 0.06
Nebraska 43 2,860,722.10 0.59
Nevada 71 6,873,798.32 1.41
New Hampshire 22 1,683,099.82 0.35
New Jersey 125 11,200,200.74 2.30
New Mexico 88 6,161,549.28 1.26
New York 339 25,505,919.19 5.23
North Carolina 406 26,760,717.71 5.49
North Dakota 7 341,896.86 0.07
Ohio 481 33,693,658.85 6.91
Oklahoma 34 1,752,964.51 0.36
Oregon 35 2,976,401.07 0.61
Pennsylvania 502 32,061,690.23 6.58
Rhode Island 18 1,181,051.66 0.24
South Carolina 102 6,323,422.95 1.30
South Dakota 6 345,648.45 0.07
Tennessee 109 7,371,141.10 1.51
Texas 239 18,166,611.09 3.73
Utah 75 6,753,174.92 1.39
Vermont 1 91,777.82 0.02
Virginia 115 7,980,881.59 1.64
Washington 72 6,380,825.22 1.31
West Virginia 45 2,469,968.44 0.51
Wisconsin 66 3,882,199.40 0.80
Wyoming 2 202,720.89 0.04
- -------------------------------------------------------------------------------------------------------------
Total: 6,859 $ 487,477,925.78 100.00 %
- -------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 32
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
Distribution of Loan Balances - Fixed Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Current Balance Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.01 - 25,000.00 684 $ 12,978,817.27 2.66%
25,000.01 - 50,000.00 2,049 78,269,921.03 16.06
50,000.01 - 75,000.00 1,831 112,802,229.09 23.14
75,000.01 - 100,000.00 1,015 87,734,218.17 18.00
100,000.01 - 125,000.00 556 62,142,324.24 12.75
125,000.01 - 150,000.00 264 35,944,020.40 7.37
150,000.01 - 175,000.00 155 25,060,516.58 5.14
175,000.01 - 200,000.00 93 17,374,416.40 3.56
200,000.01 - 225,000.00 50 10,634,131.07 2.18
225,000.01 - 250,000.00 54 12,866,680.07 2.64
250,000.01 - 275,000.00 42 11,035,553.26 2.26
275,000.01 - 300,000.00 34 9,776,354.13 2.01
300,000.01 - 325,000.00 13 4,098,875.11 0.84
325,000.01 - 350,000.00 9 3,034,709.60 0.62
350,000.01 - 375,000.00 6 2,151,520.85 0.44
375,000.01 - 400,000.00 3 1,161,875.55 0.24
400,000.01 - 425,000.00 1 411,762.96 0.08
- -------------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- -------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 33
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
Original Loan-to-Value Ratios - Fixed Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Original LTVs Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.01 - 5.00 4 $ 57,485.12 0.01%
5.01 - 10.00 70 1,419,994.82 0.29
10.01 - 15.00 226 5,554,878.66 1.14
15.01 - 20.00 256 7,203,373.19 1.48
20.01 - 25.00 201 7,173,952.90 1.47
25.01 - 30.00 150 6,424,774.06 1.32
30.01 - 35.00 124 5,044,537.94 1.03
35.01 - 40.00 97 4,490,714.64 0.92
40.01 - 45.00 98 4,726,235.87 0.97
45.01 - 50.00 140 6,726,317.76 1.38
50.01 - 55.00 141 7,185,206.64 1.47
55.01 - 60.00 146 8,498,124.23 1.74
60.01 - 65.00 221 13,983,716.17 2.87
65.01 - 70.00 427 27,885,954.12 5.72
70.01 - 75.00 688 50,426,497.73 10.34
75.01 - 80.00 1,583 125,313,438.11 25.71
80.01 - 85.00 1,185 101,937,243.85 20.91
85.01 - 90.00 1,064 99,891,570.88 20.49
90.01 - 95.00 38 3,533,909.09 0.72
- ---------------------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 34
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
Combined Loan-to-Value Ratios - Fixed Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Original CLTVs Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
5.01 - 10.00 1 $ 27,429.71 0.01%
10.01 - 15.00 7 124,745.94 0.03
15.01 - 20.00 13 353,064.03 0.07
20.01 - 25.00 20 539,381.69 0.11
25.01 - 30.00 26 1,049,268.40 0.22
30.01 - 35.00 43 1,760,694.42 0.36
35.01 - 40.00 57 2,113,798.30 0.43
40.01 - 45.00 76 3,733,646.40 0.77
45.01 - 50.00 134 5,958,885.73 1.22
50.01 - 55.00 143 6,541,667.80 1.34
55.01 - 60.00 159 9,122,845.42 1.87
60.01 - 65.00 244 14,774,945.94 3.03
65.01 - 70.00 475 29,336,955.80 6.02
70.01 - 75.00 774 53,584,793.54 10.99
75.01 - 80.00 1,714 129,557,685.23 26.58
80.01 - 85.00 1,410 109,742,822.74 22.51
85.01 - 90.00 1,497 115,068,456.86 23.60
90.01 - 95.00 39 3,600,862.09 0.74
95.01 - 100.00 27 485,975.74 0.10
- -------------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- -------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 35
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
Distribution of Current Coupon Rates - Fixed Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Coupon Rates Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
6.51 - 7.00 3 $ 385,795.11 0.08%
7.01 - 7.50 28 2,838,126.25 0.58
7.51 - 8.00 113 10,879,938.33 2.23
8.01 - 8.50 225 22,783,323.62 4.67
8.51 - 9.00 530 48,983,904.23 10.05
9.01 - 9.50 596 54,619,151.41 11.20
9.51 - 10.00 1,114 90,829,527.00 18.63
10.01 - 10.50 893 65,924,099.48 13.52
10.51 - 11.00 1,077 71,203,008.77 14.61
11.01 - 11.50 689 39,064,955.14 8.01
11.51 - 12.00 642 35,191,407.42 7.22
12.01 - 12.50 369 17,991,001.13 3.69
12.51 - 13.00 284 13,147,311.40 2.70
13.01 - 13.50 107 4,775,302.60 0.98
13.51 - 14.00 103 4,633,850.99 0.95
14.01 - 14.50 19 760,368.29 0.16
14.51 - 15.00 41 2,314,409.11 0.47
15.01 - 15.50 8 342,171.69 0.07
15.51 - 16.00 11 564,115.83 0.12
16.01 - 16.50 3 102,362.85 0.02
16.51 - 17.00 2 83,542.18 0.02
17.01 - 17.50 1 35,000.00 0.01
18.51 - 1 25,252.95 0.01
- ----------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- ----------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 36
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
Distribution of Remaining Amortization Terms to Maturity - Fixed Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Remaining to Maturity Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- 48 6 $ 42,812.82 0.01%
49 - 60 8 191,237.02 0.04
61 - 120 240 7,161,530.67 1.47
121 - 180 1,085 48,887,256.08 10.03
181 - 240 739 42,266,903.71 8.67
241 - 300 67 4,303,488.56 0.88
301 - 360 4,711 384,376,996.92 78.85
361 - 3 247,700.00 0.05
- ---------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Distribution of Months of Seasoning - Fixed Rate Loans
Range of Number of Aggregate % of Aggregate
Months of Seasoning Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------
0 - 1 2,198 158,177,182.11 32.45
2 - 12 4,584 327,065,942.47 67.09
13 - 77 2,234,801.20 0.46
- ---------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Property Types - Fixed Rate Loans
Number of Aggregate % of Aggregate
Property Types Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------
Single Family Attached 170 $ 9,511,950.08 1.95%
Single Family Detached 5,997 428,520,474.43 87.91
Condominium 53 3,039,766.21 0.62
Two to Four-Family Residence 292 23,385,916.95 4.80
Planned Unit Development 91 8,275,822.55 1.70
Manufactured Housing 246 13,832,703.14 2.84
Mixed Use 10 911,292.42 0.19
- ---------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- ---------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 37
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Occupancy Status - Fixed Rate Loans
Number of Aggregate % of Aggregate
Occupancy Status Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Owner Occupied 6,476 $465,977,382.67 95.59%
Investor Owned 383 21,500,543.11 4.41
- -------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Distribution of Stated Original Months to Maturity - Fixed Rate Loans
Original Months Number of Aggregate % of Aggregate
to Maturity Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------
0 - 60 11 $ 279,826.89 0.06%
61 - 120 226 7,300,762.98 1.50
121 - 180 3,121 196,581,826.57 40.33
181 - 240 706 41,019,307.42 8.41
241 - 300 66 4,289,002.57 0.88
301 - 360 2,729 238,007,199.35 48.82
- -------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Days Delinquent - Fixed Rate Loans
Number of Aggregate % of Aggregate
Days Delinquent Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------
30-59 DAYS 125 $ 8,181,744.87 1.68%
60-89 DAYS 5 144,374.08 0.03
CURRENT 6,729 479,151,806.83 98.29
- -------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- -------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 38
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Statistical Calculation Date Debt to Income Ratio - Fixed Rate Loans
Range of Debt Number of Aggregate % of Aggregate
to Income Ratio Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0 - 5.00 8 $ 603,133.17 0.12%
5.01 - 10.00 43 3,122,403.47 0.64
10.01 - 15.00 134 7,439,958.00 1.53
15.01 - 20.00 339 19,727,047.68 4.05
20.01 - 25.00 498 29,498,645.87 6.05
25.01 - 30.00 792 50,528,014.35 10.37
30.01 - 35.00 952 64,093,195.73 13.15
35.01 - 40.00 1,118 80,455,652.72 16.50
40.01 - 45.00 1,404 108,685,280.64 22.30
45.01 - 50.00 1,440 111,791,113.56 22.93
50.01 - 55.00 120 10,558,128.05 2.17
55.01 - 60.00 9 918,285.02 0.19
70.01 - 75.00 1 10,334.53 0.00
75.01 - 80.00 1 46,732.99 0.01
- --------------------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Lien Position - Fixed Rate Loans
Number of Aggregate % of Aggregate
Lien Position Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------------
1 5,805 $450,822,553.93 92.48%
2 1,054 36,655,371.85 7.52
- --------------------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Loan Type - Fixed Rate Loans
Number of Aggregate % of Aggregate
Loan Type Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------------
10yr balloon 34 $ 1,331,979.86 0.27%
15yr balloon 1,985 146,602,635.74 30.07
5yr balloon 3 88,589.87 0.02
7yr balloon 1 55,818.98 0.01
fxd rate fully amortizing 4,836 339,398,901.33 69.62
- --------------------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 39
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Loan Purpose - Fixed Rate Loans
Number of Aggregate % of Aggregate
Loan Purpose Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CASH OUT REFI 1,761 $119,433,081.05 24.50%
DEBT CONSOLIDATION 3,549 245,658,438.09 50.39
HOME IMPROVEMENT 190 15,392,068.98 3.16
NEW CONSTRUCTION 7 594,628.58 0.12
PURCHASE 403 33,611,335.54 6.89
RATE/TERM REFI 358 29,025,474.34 5.95
OTHER 591 43,762,899.20 8.98
- -------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Documentation Level - Fixed Rate Loans
Number of Aggregate % of Aggregate
Documentation Level Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------
FULL DOC 6,233 428,672,214.89 87.94
LIMITED 407 40,216,747.84 8.25
NO DOC 219 18,588,963.05 3.81
- -------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
Credit Score - Fixed Rate Loans
Number of Aggregate % of Aggregate
Credit Score Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------
A 4,741 $360,743,096.78 74.00%
B 1,270 81,253,225.01 16.67
C 736 40,524,590.53 8.31
D 112 4,957,013.46 1.02
- -------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- -------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 40
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Statistical Calculation Date Junior Lien Ratio - Fixed Rate Loans
Range of Number of Aggregate % of Aggregate
Junior Ratio Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0.00 - 5.00 5,805 $450,822,553.93 92.48%
5.01 - 10.00 16 272,658.90 0.06
10.01 - 15.00 103 2,149,084.90 0.44
15.01 - 20.00 237 6,171,461.68 1.27
20.01 - 25.00 168 4,896,767.41 1.00
25.01 - 30.00 165 6,023,851.87 1.24
30.01 - 35.00 105 4,126,847.95 0.85
35.01 - 40.00 80 3,395,202.87 0.70
40.01 - 45.00 50 2,421,731.63 0.50
45.01 - 50.00 33 1,504,563.68 0.31
50.01 - 55.00 23 1,378,590.16 0.28
55.01 - 60.00 14 699,488.56 0.14
60.01 - 65.00 14 989,459.73 0.20
65.01 - 70.00 7 245,678.68 0.05
70.01 - 75.00 8 599,130.63 0.12
75.01 - 80.00 7 338,111.89 0.07
80.01 - 85.00 8 519,144.41 0.11
85.01 - 90.00 11 652,888.84 0.13
90.01 - 95.00 5 270,708.06 0.06
- ----------------------------------------------------------------------------------------------------------
6,859 $487,477,925.78 100.00%
Prepay Penalty - Fixed Rate Loans
Number of Aggregate % of Aggregate
Prepay Penalty Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------
Y 4,662 $342,184,125.14 70.19%
N 2,197 145,293,800.64 29.81
- ----------------------------------------------------------------------------------------------------------
Total: 6,859 $487,477,925.78 100.00%
- ----------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 41
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Geographic Distribution of Mortgaged Properties - Adjustable Rate Loans
<TABLE>
<CAPTION>
Number of Aggregate % of Aggregate
State Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Arizona 53 $ 4,799,620.74 2.95%
Arkansas 4 397,767.11 0.24
California 152 23,296,580.50 14.33
Colorado 48 5,055,800.71 3.11
Connecticut 11 1,561,588.85 0.96
Delaware 2 185,037.10 0.11
District of Columbia 1 124,663.80 0.08
Florida 83 7,706,796.21 4.74
Georgia 26 2,372,907.25 1.46
Idaho 17 1,325,219.10 0.82
Illinois 142 14,392,224.14 8.86
Indiana 108 6,486,070.09 3.99
Iowa 9 606,732.79 0.37
Kansas 8 711,771.58 0.44
Kentucky 27 1,736,241.25 1.07
Louisiana 10 817,683.76 0.50
Maryland 21 1,910,345.24 1.18
Massachusetts 19 2,091,207.23 1.29
Michigan 358 25,717,737.25 15.82
Minnesota 20 1,804,575.26 1.11
Mississippi 5 411,192.08 0.25
Missouri 44 2,606,133.21 1.60
Montana 5 344,348.21 0.21
Nebraska 3 198,752.04 0.12
Nevada 12 1,417,475.03 0.87
New Hampshire 8 1,046,594.67 0.64
New Jersey 9 954,607.18 0.59
New Mexico 19 2,090,498.73 1.29
New York 16 2,482,394.04 1.53
North Carolina 20 1,933,139.81 1.19
North Dakota 2 116,027.13 0.07
Ohio 192 14,670,152.00 9.03
Oklahoma 22 1,628,742.44 1.00
Oregon 31 3,265,020.51 2.01
Pennsylvania 56 3,722,606.62 2.29
Rhode Island 4 298,891.12 0.18
South Carolina 13 1,444,664.49 0.89
Tennessee 20 1,717,279.87 1.06
Texas 66 6,454,835.57 3.97
Utah 40 4,378,620.65 2.69
Vermont 2 116,142.51 0.07
Virginia 15 2,127,244.56 1.31
Washington 41 4,641,143.94 2.86
West Virginia 3 159,587.47 0.10
Wisconsin 15 1,124,217.34 0.69
Wyoming 1 71,282.09 0.04
- ----------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- ----------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 42
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Distribution of Loan Balances - Adjustable Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Current Balance Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
0.01 - 25,000.00 37 $ 772,028.89 0.48%
25,000.01 - 50,000.00 331 13,259,859.25 8.16
50,000.01 - 75,000.00 505 31,524,375.99 19.40
75,000.01 - 100,000.00 351 30,327,595.75 18.66
100,000.01 - 125,000.00 215 23,986,841.67 14.76
125,000.01 - 150,000.00 124 16,774,554.36 10.32
150,000.01 - 175,000.00 81 13,141,618.38 8.09
175,000.01 - 200,000.00 51 9,657,334.18 5.94
200,000.01 - 225,000.00 29 6,193,450.05 3.81
225,000.01 - 250,000.00 15 3,567,282.74 2.19
250,000.01 - 275,000.00 14 3,625,517.47 2.23
275,000.01 - 300,000.00 10 2,908,006.46 1.79
300,000.01 - 325,000.00 7 2,180,003.55 1.34
325,000.01 - 350,000.00 6 2,017,738.02 1.24
350,000.01 - 375,000.00 5 1,792,239.75 1.10
375,000.01 400,000.00 1 390,524.57 0.24
400,000.01 - 425,000.00 1 403,192.19 0.25
- --------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- --------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 43
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Original Loan-to-Value Ratios - Adjustable Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Original LTVs Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10.01 - 15.00 1 $ 24,943.65 0.02%
15.01 - 20.00 2 34,917.90 0.02
20.01 - 25.00 1 79,751.18 0.05
25.01 - 30.00 2 89,944.13 0.06
30.01 - 35.00 3 211,415.51 0.13
35.01 - 40.00 6 352,298.65 0.22
40.01 - 45.00 15 835,174.30 0.51
45.01 - 50.00 24 1,146,092.60 0.71
50.01 - 55.00 24 1,556,842.61 0.96
55.01 - 60.00 40 2,854,601.28 1.76
60.01 - 65.00 68 4,551,318.68 2.80
65.01 - 70.00 137 10,859,895.08 6.68
70.01 - 75.00 264 21,663,205.81 13.33
75.01 - 80.00 597 55,375,303.91 34.07
80.01 - 85.00 279 28,050,304.08 17.26
85.01 - 90.00 318 34,726,728.78 21.37
95.01 - 100.00 2 109,425.12 0.07
- --------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- --------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 44
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Combined Loan-to-Value Ratios - Adjustable Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Original CLTVs Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10.01 - 15.00 1 $ 24,943.65 0.02%
15.01 - 20.00 2 34,917.90 0.02
20.01 - 25.00 1 79,751.18 0.05
25.01 - 30.00 2 89,944.13 0.06
30.01 - 35.00 3 211,415.51 0.13
35.01 - 40.00 6 352,298.65 0.22
40.01 - 45.00 15 835,174.30 0.51
45.01 - 50.00 24 1,146,092.60 0.71
50.01 - 55.00 24 1,556,842.61 0.96
55.01 - 60.00 40 2,854,601.28 1.76
60.01 - 65.00 68 4,551,318.68 2.80
65.01 - 70.00 137 10,859,895.08 6.68
70.01 - 75.00 264 21,663,205.81 13.33
75.01 - 80.00 597 55,375,303.91 34.07
80.01 - 85.00 279 28,050,304.08 17.26
85.01 - 90.00 318 34,726,728.78 21.37
95.01 - 100.00 2 109,425.12 0.07
- -------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- -------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 45
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Distribution of Current Coupon Rates - Adjustable Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Coupon Rates Home Equity Loans Loan Balance Loan Balance
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
6.51 - 7.00 1 $ 77,934.79 0.05%
7.01 - 7.50 10 1,464,613.65 0.90
7.51 - 8.00 33 4,258,592.09 2.62
8.01 - 8.50 51 6,589,168.82 4.05
8.51 - 9.00 114 13,681,520.75 8.42
9.01 - 9.50 160 15,614,880.96 9.61
9.51 - 10.00 423 41,139,528.29 25.31
10.01 - 10.50 366 32,208,562.46 19.82
10.51 - 11.00 318 26,011,905.03 16.01
11.01 - 11.50 133 10,080,589.56 6.20
11.51 - 12.00 91 6,575,777.75 4.05
12.01 - 12.50 40 2,636,032.84 1.62
12.51 - 13.00 28 1,505,034.64 0.93
13.01 - 13.50 6 322,913.36 0.20
13.51 - 14.00 4 120,882.65 0.07
14.01 - 14.50 3 179,506.97 0.11
15.01 - 2 54,718.66 0.03
- ------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Distribution of Remaining Terms to Maturity - Adjustable Rate Loans
Range of Number of Aggregate % of Aggregate
Remaining to Maturity Home Equity Loans Loan Balance Loan Balance
- ------------------------------------------------------------------------------------------------
301 - 360 1,782 $162,457,663.27 99.96%
361 - 1 64,500.00 0.04
- ------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- ------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 46
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
<TABLE>
<CAPTION>
Distribution of Months of Seasoning - Adjustable Rate Loans
Range of Number of Aggregate % of Aggregate
Months of Seasoning Home Equity Loans Loan Balance Loan Balance
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0 - 0 49 $ 4,278,675.00 2.63%
1 - 1 131 13,488,302.95 8.30
2 - 12 1,595 143,865,718.76 88.52
13 8 889,466.56 0.55
- ------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Distribution of Margins - Adjustable Rate Loans
Range of Number of Aggregate % of Aggregate
Margins Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------------------
- 5.00 92 $ 8,458,598.56 5.20%
5.01 - 6.00 460 46,566,825.64 28.65
6.01 - 7.00 717 67,270,171.31 41.39
7.01 - 8.00 397 31,860,515.20 19.60
8.01 - 9.00 91 6,847,750.65 4.21
9.01 - 10.00 21 1,235,623.31 0.76
10.01 - 11.00 3 152,511.00 0.09
11.01 - 12.00 1 91,676.88 0.06
12.01 - 13.00 1 38,490.72 0.02
- -------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- -------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 47
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Distribution of Maximum Coupon Rates - Adjustable Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Maximum Coupon Rates Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
13.01 - 14.00 14 $ 1,892,386.10 1.16%
14.01 - 15.00 108 13,077,096.43 8.05
15.01 - 16.00 441 43,688,329.54 26.88
16.01 - 17.00 629 58,049,693.52 35.72
17.01 - 18.00 409 33,692,741.71 20.73
18.01 - 19.00 129 8,989,137.30 5.53
19.01 - 20.00 45 2,774,284.66 1.71
20.01 - 21.00 3 124,268.38 0.08
21.01 - 22.00 4 217,997.69 0.13
22.01 - 23.00 1 16,227.94 0.01
- ---------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- ---------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 48
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Month of Next Coupon Rate Change - Adjustable Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Next Coupon Rate Change Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
February 1999 8 $ 475,592.98 0.29%
March 1999 41 3,587,467.98 2.21
April 1999 73 7,487,261.83 4.61
May 1999 66 7,913,253.74 4.87
June 1999 28 2,774,798.88 1.71
July 1999 14 1,319,510.64 0.81
August 1999 1 73,500.00 0.05
September 1999 1 51,685.44 0.03
December 1999 2 180,702.83 0.11
January 2000 2 469,143.52 0.29
February 2000 2 170,672.10 0.11
March 2000 4 437,376.01 0.27
April 2000 2 404,882.38 0.25
May 2000 3 294,134.08 0.18
June 2000 10 822,853.24 0.51
July 2000 38 3,778,226.70 2.32
August 2000 51 4,913,702.13 3.02
September 2000 179 15,862,013.86 9.76
October 2000 241 21,323,819.51 13.12
November 2000 310 26,542,650.56 16.33
December 2000 230 19,596,858.35 12.06
January 2001 98 9,924,578.70 6.11
February 2001 30 2,761,525.00 1.70
March 2001 1 35,821.86 0.02
July 2001 12 923,023.36 0.57
August 2001 19 1,619,596.23 1.00
September 2001 62 4,888,703.96 3.01
October 2001 107 8,968,884.84 5.52
November 2001 59 5,266,087.59 3.24
December 2001 52 5,965,971.36 3.67
January 2002 19 2,244,213.61 1.38
February 2002 17 1,379,150.00 0.85
March 2002 1 64,500.00 0.04
- -----------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- -----------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 49
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
<TABLE>
<CAPTION>
Types of Mortgaged Properties - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Property Types Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family Attached 23 $ 1,825,582.52 1.12%
Single Family Detached 1,516 136,710,162.02 84.12
Condominium 31 2,564,327.83 1.58
Two to Four-Family Residence 98 9,739,926.50 5.99
Planned Unit Development 50 6,663,826.42 4.10
Manufactured Housing 64 4,954,393.59 3.05
Mixed Use 1 63,944.39 0.04
- --------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Occupancy Status - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Occupancy Status Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------
Owner Occupied 1,626 $150,062,792.72 92.33%
Investor Owned 157 12,459,370.55 7.67
- --------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Distribution of Original Months to Maturity - Adjustable Rate Loans
Original Months Number of Aggregate % of Aggregate
to Maturity Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------
121 - 180 5 414,687.53 0.26
301 - 360 1,778 162,107,475.74 99.74
- --------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- --------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 50
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
<TABLE>
<CAPTION>
Lien Position - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Lien Position Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1 1,783 $162,522,163.27 100.00%
- ----------------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Distribution of Minimum Coupon Rates - Adjustable Rate Loans
Range of Number of Aggregate % of Aggregate
Minimum Coupon Rates Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------------------
6.01 - 7.00 1 $ 77,934.79 0.05%
7.01 - 8.00 43 5,723,205.74 3.52
8.01 - 9.00 165 20,270,689.57 12.47
9.01 - 10.00 582 56,674,485.00 34.87
10.01 - 11.00 685 58,347,060.31 35.90
11.01 - 12.00 223 16,529,774.49 10.17
12.01 - 13.00 69 4,220,991.73 2.60
13.01 - 14.00 10 443,796.01 0.27
14.01 - 15.00 3 179,506.97 0.11
15.01 - 16.00 2 54,718.66 0.03
- ----------------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 51
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
<TABLE>
<CAPTION>
Days Delinquent - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Days Delinquent Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 42 $ 2,411,159.81 1.48%
60-89 DAYS 4 384,425.94 0.24
CURRENT 1,737 159,726,577.52 98.28
- ----------------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Credit Score - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Credit Score Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------------------
A 983 $ 99,800,455.69 61.41%
B 406 33,344,028.23 20.52
C 362 27,756,253.66 17.08
D 32 1,621,425.69 1.00
- ----------------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Product Type - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Product Type Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------------------
2/28 LIBOR 1,204 $107,590,385.78 66.20%
3/27 LIBOR 350 31,422,139.51 19.33
6 MO LIBOR no neg. am 229 23,509,637.98 14.47
- ----------------------------------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 52
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
<TABLE>
<CAPTION>
Statistical Calculation Date Debt to Income Ratio - Adjustable Rate Loans
Range of Debt Number of Aggregate % of Aggregate
to Income Ratio Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
0 - 5.00 1 $ 134,828.14 0.08%
5.01 - 10.00 5 688,496.96 0.42
10.01 - 15.00 35 1,772,808.60 1.09
15.01 - 20.00 82 5,039,202.84 3.10
20.01 - 25.00 120 8,920,398.71 5.49
25.01 - 30.00 210 16,972,151.92 10.44
30.01 - 35.00 225 18,818,436.83 11.58
35.01 - 40.00 287 26,614,228.78 16.38
40.01 - 45.00 320 30,889,725.80 19.01
45.01 - 50.00 401 40,593,490.44 24.98
50.01 - 55.00 87 10,622,417.30 6.54
55.01 - 60.00 8 1,311,737.15 0.81
60.01 - 65.00 1 31,156.87 0.02
65.01 - 70.00 1 113,082.93 0.07
- -------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Loan Purpose - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Loan Purpose Home Equity Loans Loan Balance Loan Balance
- -------------------------------------------------------------------------------------------
CASH OUT REFI 495 $ 44,565,736.48 27.42%
DEBT CONSOLIDATION 657 58,031,460.32 35.71
HOME IMPROVEMENT 49 4,319,141.15 2.66
NEW CONSTRUCTION 3 217,784.60 0.13
PURCHASE 389 38,880,166.79 23.92
RATE/TERM REFI 44 4,857,029.93 2.99
OTHER 146 11,650,844.00 7.17
- -------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- -------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 53
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-1
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
<TABLE>
<CAPTION>
Documentation Level - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Documentation Level Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------
<S> <C> <C> <C>
FULL DOC 1,548 $138,329,516.09 85.11%
LIMITED 121 12,532,285.27 7.71
NO DOC 114 11,660,361.91 7.17
- ----------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
Prepay Penalty - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Prepay Penalty Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------
Y 1,510 $133,763,711.32 82.30%
N 273 28,758,451.95 17.70
- ----------------------------------------------------------------------------------------------
Total: 1,783 $162,522,163.27 100.00%
- ----------------------------------------------------------------------------------------------
</TABLE>
Recipients of these Computational Materials must read and acknowledge the
attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING
ESTIMATES, AND OTHER INFORMATION" before using or relying on the information
contained herein. In addition, recipients of these Computational Materials may
only use or rely on the information contained herein if read in conjunction with
the related Prospectus and Prospectus Supplement. If you have not received the
statement described above or the related Prospectus and Prospectus Supplement,
please contact your account executive at Bear, Stearns & Co. Inc.
Page 54
