<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) March 17, 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
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 1999-2 of Home Equity Loan Pass-Through Certificates, Series
1999-2. The term "Computational Materials" shall have the meaning given in the
No-Action Letter of May 20, 1994 issued by the Securities and Exchange
Commission (the "SEC") to Kidder, Peabody Acceptance Corporation I, Kidder,
Peabody & Co. Incorporated and Kidder Structured Asset Corporation, as made
applicable to other issuers and underwriters by the Commission in response to
the request of the Public Securities Association dated May 24, 1994, and as
supplemented in the No-Action Letter of February 17, 1995 issued by the SEC to
the Public Securities Association.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Computational Materials
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CONTISECURITIES ASSET FUNDING CORP.,
as Depositor
By:/s/ John Banu
-------------------------------------
Name: John Banu
Title: Authorized Signatory
By:/s/ Mary Rapoport
-------------------------------------
Name: Mary Rapoport
Title: Authorized Signatory
Dated: March 17, 1999
3
<PAGE>
EXHIBIT INDEX
Exhibit Page
99.1 Computational Materials
<PAGE>
BEAR STEARNS
ATLANTA o BOSTON o CHICAGO o DALLAS o LOS ANGELES
NEW YORK o SAN FRANCISCO o WASHINGTON D.C.
BEIJING o BUENOS AIRES o DUBLIN o GENEVA o HONG KONG
LONDON o LUGANO o PARIS o SHANGHAI o TOKYO
Bear, Stearns & Co. Inc.
Asset-Backed Securities Group
245 Park Avenue
New York, N.Y. 10167
(212) 272-2000; (212) 272-7294 fax
FAX TRANSMITTAL
Computational Material
CONTIMORTGAGE Home Equity Loan Trust, Series 1999-2
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.
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
<TABLE>
<CAPTION>
Final
Class Scheduled
Size Expected Ratings Average Payment Payment Day
Class(1) ($ MM) Tranche Type (Moody's/ S&P) Life (2,3) Date Window (2,3) Count
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $126.977 Fixed Sequential Aaa / AAA 0.85 years/MAT 01/25/14 04/99-09/00 / 18 mo. 30/360
A-2 76.779 Fixed Sequential Aaa / AAA 2.00 years/MAT 07/25/14 09/00-10/01 / 14 mo. 30/360
A-3 43.825 Fixed Sequential Aaa / AAA 3.00 years/MAT 12/25/19 10/01-10/02 / 13 mo. 30/360
A-4 27.016 Fixed Sequential Aaa / AAA 4.00 years/MAT 07/25/23 10/02-09/03 / 12 mo. 30/360
A-5 23.166 Fixed Sequential Aaa / AAA 5.00 years/MAT 10/25/25 09/03-11/04 / 15 mo. 30/360
A-6(3,4) 44.887 Fixed Sequential Aaa / AAA 6.78 years/CALL 01/25/29 11/04-04/06 / 18 mo. 30/360
A-7(3,4) 26.950 Fixed NAS Aaa / AAA 6.00 years/CALL 01/25/14 04/02-04/06 / 49 mo. 30/360
- -----------------------------------------------------------------------------------------------------------------------------------
A-8(3,4) 158.400 ARM Floater* Aaa / AAA 2.52 years/CALL 01/25/29 04/99-04/06 / 85 mo. Act/360
- -----------------------------------------------------------------------------------------------------------------------------------
B(3,4,5) 22.000 Fixed Subordinate Baa3 / BBB- 4.93 years/CALL 01/25/29 04/02-04/06 / 49 mo. 30/360
A-9 IO(5) 26.950 Fixed NAS IO Aaa / AAAr [ ] years 09/25/01 [ ] 30/360
Mod. Dur.
- -----------------------------------------------------------------------------------------------------------------------------------
Total $550.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) The Class A Certificates will have the benefit of an insurance policy
provided by MBIA.
(2) See "Pricing Prepayment Speed" below.
(3) 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 double after the
clean-up call date.
(4) See "Available Funds Cap" on page 3.0
(5) The Class B and Class A-9 IO will be sole managed by BEAR STEARNS.
*Note: Due to reverse inquiry, Class A-8 is not available.
Sellers: ContiMortgage Corporation and ContiWest Corporation
Servicer: ContiMortgage Corporation
Trustee: Manufacturers and Traders Trust Company
Managers: BEAR STEARNS (lead), ContiFinancial Services, Credit
Suisse First Boston, Greenwich Capital Markets,
Merrill Lynch, Morgan Stanley Dean Witter
(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 (these Certificates are
not available).
o All of the Class A Certificates will be
rated triple-A, based upon a Certificate
guaranty insurance policy from MBIA.
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.
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, both of which
conform to Fannie Mae and Freddie Mac guidelines for
maximum original loan balances: Group I ($385.0 MM)
will consist solely of fixed rate collateral and
will back Classes A-1 through A-7 and Class A-9 IO.
Group II ($165.0 MM) will consist of 6-month LIBOR
ARM and hybrid ARM collateral and will back Class
A-8. Class B will be backed by both groups.
Cut-Off Date March 13, 1999.
Expected Pricing Date: March 18, 1999.
Expected Settlement: March 26, 1999 through DTC, Euroclear or CEDEL.
Accrued Interest: All of the fixed rate certificates will settle with
13 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).
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
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 2X [ ]% per annum, subject to the Group
II Available Funds Cap.
Available Funds Cap: Group I Available Funds Cap
The 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
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. The
Class B Certificates are not 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 1999-2
- --------------------------------------------------------------------------------
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 0.25% of
the aggregate original loan balance in the first 6 months and
2.50% of the aggregate original laon balance thereafter;
3. Subordination of Class B certificates, totaling 4.0% of the
aggregate original loan balance;
4. MBIA surety wrap.
o Class B Credit Enhancement:
1. Excess cash;
2. Overcollateralization building up to a requirement of 0.25% of
the aggregate original loan balance in the first 6 months and
2.50% of the aggregate loan balance thereafter.
(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
0.25% of the aggregate original loan balance in the first 6 months and
2.50% of the aggregate original loan balance of the Group I and Group
II Collateral (subject to the MBIA performance triggers);
2. On and after the Stepdown Date, and so long as no trigger event is in
effect, the overcollateralization will step down monthly to 5.375% of
the outstanding aggregate current loan balance of the Group I and
Group II Collateral;
3. The overcollateralization step down will be subject to a floor of
0.50% of the aggregate original loan balance of Group I and Group II
(subject to MBIA trigger events);
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 4.0%
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 MBIA.
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 1999-2
- --------------------------------------------------------------------------------
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) on
the one hand 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 1999-2
- --------------------------------------------------------------------------------
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 2.15 times the initial enhancement percentage for each class:
Target Credit
Targeted % of Pool Enhancement
Class A 86.025% 13.975%
Class B 8.600% 5.375%
Overcollateralization 5.375%
------
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 0.25% for the first 6 months and thereafter 2.50% (based on
the aggregate original loan balance). After the Stepdown Date, the
Class A Certificates receive collateral principal to maintain 13.975%
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 principal to maintain 5.375% credit enhancement
(based on the amortizing loan balance).
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 13.975%.
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Delinquency Trigger:
o After the Stepdown Date, a Deliquency Trigger Event has occurred if on
any Payment Date [77]% of 3-month rolling average 60+ Day Delinquencies
(including Bankruptcies, Foreclosures and REO properties) with respect
to the aggregate Group I and Group II loan balances equals or exceeds
the Class A Enhancement Percentage (13.975% = 2.15 X 6.50%); i.e., when
the 3-month rolling average of 60+ Day Delinquencies equals or exceeds
[18.149]% (13.975%%/[77]%).
o If a Delinquency Trigger Event is in effect, Class A will receive 100%
of all principal until the credit enhancement equals or exceeds [77]%
of the 3 Month Rolling Average of 60+ Day Deliquencies with respect to
the aggregate Group I and Group II loan balances. During this time,
overcollateraliztion will not be released until the credit enhancement
target is achieved.
Cumulative Realized Loss Trigger Event:
o A Cumulative Realized Loss Trigger Event occurs on any date of
determination if the amount of Cumulative Realized Losses expressed as
a percentage of the original aggregate loan balance of Group I and
Group II equals or exceeds the following amounts:
Date Percentages
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 [3.15%]
Upon the occurrence and during the continuance of a Cumulative Realized
Loss Trigger Event, the overcollateralization amount shall increase to
[3.50%] of the aggregate original loan balance of the Group I and Group
II Collateral.
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 1999-2
- --------------------------------------------------------------------------------
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) 8.88 2.21 1.39 1.02 0.85 0.77 0.70 0.64
Modified Duration (years) 6.30 1.98 1.29 0.96 0.81 0.74 0.67 0.61
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 01/25/14 11/25/03 12/25/01 02/25/01 09/25/00 07/25/00 05/25/00 04/25/00
Principal Lockout (months) 0 0 0 0 0 0 0 0
Principal Window (months) 178 56 33 23 18 16 14 13
Illustrative Yield @ Par (30/360) 6.03% 5.89% 5.78% 5.68% 5.60% 5.55% 5.50% 5.44%
- ----------------------------------------------------------------------------------------------------------------------------------
<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) 14.83 6.64 3.79 2.55 2.00 1.75 1.52 1.35
Modified Duration (years) 9.60 5.31 3.30 2.30 1.84 1.62 1.42 1.27
First Principal Payment 01/25/14 11/25/03 12/25/01 02/25/01 09/25/00 07/25/00 05/25/00 04/25/00
Last Principal Payment 01/25/14 05/25/08 03/25/04 07/25/02 10/25/01 06/25/01 02/25/01 11/25/00
Principal Lockout (months) 177 55 32 22 17 15 13 12
Principal Window (months) 1 55 28 18 14 12 10 8
Illustrative Yield @ Par (30/360) 6.02% 5.99% 5.94% 5.89% 5.85% 5.82% 5.78% 5.75%
<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) 17.34 11.09 6.12 3.97 3.00 2.55 2.18 1.91
Modified Duration (years) 10.35 7.81 4.96 3.43 2.67 2.30 1.99 1.75
First Principal Payment 01/25/14 05/25/08 03/25/04 07/25/02 10/25/01 06/25/01 02/25/01 11/25/00
Last Principal Payment 03/25/19 04/25/12 09/25/06 12/25/03 10/25/02 02/25/02 09/25/01 05/25/01
Principal Lockout (months) 177 109 59 39 30 26 22 19
Principal Window (months) 63 48 31 18 13 9 8 7
Illustrative Yield @ Par (30/360) 6.23% 6.22% 6.19% 6.15% 6.12% 6.09% 6.06% 6.04%
- ----------------------------------------------------------------------------------------------------------------------------------
</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 1999-2
- --------------------------------------------------------------------------------
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) 21.96 14.27 8.73 5.32 4.00 3.35 2.69 2.33
Modified Duration (years) 11.58 9.16 6.53 4.40 3.44 2.94 2.41 2.11
First Principal Payment 03/25/19 04/25/12 09/25/06 12/25/03 10/25/02 02/25/02 09/25/01 05/25/01
Last Principal Payment 01/25/23 01/25/14 03/25/09 03/25/05 09/25/03 01/25/03 02/25/02 09/25/01
Principal Lockout (months) 239 156 89 56 42 34 29 25
Principal Window (months) 47 22 31 16 12 12 6 5
Illustrative Yield @ Par (30/360) 6.38% 6.37% 6.35% 6.32% 6.29% 6.27% 6.24% 6.21%
- -----------------------------------------------------------------------------------------------------------------------------------
<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) 25.14 14.84 11.24 6.89 5.00 4.23 3.41 2.70
Modified Duration (years) 12.19 9.34 7.80 5.42 4.17 3.60 2.98 2.42
First Principal Payment 01/25/23 01/25/14 03/25/09 03/25/05 09/25/03 01/25/03 02/25/02 09/25/01
Last Principal Payment 07/25/25 04/25/14 10/25/11 05/25/07 11/25/04 12/25/03 02/25/03 02/25/02
Principal Lockout (months) 285 177 119 71 53 45 34 29
Principal Window (months) 31 4 32 27 15 12 13 6
Illustrative Yield @ Par (30/360) 6.46% 6.45% 6.44% 6.42% 6.39% 6.38% 6.35% 6.32%
- -----------------------------------------------------------------------------------------------------------------------------------
<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) 28.20 20.92 15.93 11.74 8.85 7.29 5.76 4.47
Modified Duration (years) 12.14 10.70 9.35 7.75 6.34 5.48 4.55 3.69
First Principal Payment 07/25/25 04/25/14 10/25/11 05/25/07 11/25/04 12/25/03 02/25/03 02/25/02
Last Principal Payment 12/25/28 04/25/28 04/25/24 08/25/17 01/25/14 08/25/12 07/25/10 12/25/08
Principal Lockout (months) 315 180 150 97 67 56 46 34
Principal Window (months) 42 169 151 124 111 105 90 83
Illustrative Yield @ Par (30/360) 6.94% 6.97% 6.97% 6.99% 6.99% 6.98% 6.95% 6.91%
- -----------------------------------------------------------------------------------------------------------------------------------
</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 9
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-2
- --------------------------------------------------------------------------------
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) 12.22 8.79 7.63 6.83 6.40 6.20 6.00 5.86
Modified Duration (years) 8.13 6.40 5.77 5.31 5.05 4.93 4.81 4.72
First Principal Payment 04/25/02 04/25/02 04/25/02 04/25/02 04/25/02 06/25/02 07/25/02 09/25/02
Last Principal Payment 01/25/14 01/25/14 01/25/14 01/25/14 01/25/14 06/25/12 05/25/10 09/25/08
Principal Lockout (months) 36 36 36 36 36 38 39 41
Principal Window (months) 142 142 142 142 142 121 95 73
Illustrative Yield @ Par (30/360) 6.45% 6.44% 6.43% 6.43% 6.45% 6.47% 6.51% 6.54%
- -----------------------------------------------------------------------------------------------------------------------------------
<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) 24.93 14.94 9.79 6.78 5.21 4.52 4.03 3.74
Modified Duration (years) 9.99 8.00 6.23 4.83 3.97 3.56 3.26 3.08
First Principal Payment 04/25/17 11/25/07 03/25/04 08/25/02 04/25/02 04/25/02 05/25/02 05/25/02
Last Principal Payment 06/25/28 01/25/24 01/25/16 05/25/12 04/25/09 09/25/07 05/25/06 04/25/05
Principal Lockout (months) 216 103 59 40 36 36 37 37
Principal Window (months) 135 195 143 118 85 66 49 36
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) 20.87 8.85 5.06 3.46 2.63 2.11 1.75 1.49
Modified Duration (years) 11.80 6.15 3.98 2.91 2.29 1.89 1.60 1.38
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 12/25/28 04/25/28 04/25/24 08/25/17 01/25/14 08/25/12 07/25/10 12/25/08
Principal Lockout (months) 0 0 0 0 0 0 0 0
Principal Window (months) 357 349 301 221 178 161 136 117
Illustrative Yield @ Par 5.30% 5.31% 5.31% 5.31% 5.32% 5.32% 5.32% 5.32%
- -----------------------------------------------------------------------------------------------------------------------------------
</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 1999-2
- --------------------------------------------------------------------------------
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) 27.79 18.08 13.57 9.20 6.78 5.69 4.70 3.88
Modified Duration (years) 12.08 10.07 8.59 6.63 5.27 4.58 3.90 3.30
First Principal Payment 07/25/25 04/25/14 10/25/11 05/25/07 11/25/04 12/25/03 02/25/03 02/25/02
Last Principal Payment 06/25/27 01/25/18 11/25/12 07/25/08 04/25/06 03/25/05 03/25/04 06/25/03
Principal Lockout (months) 315 180 150 97 67 56 46 34
Principal Window (months) 24 46 14 15 18 16 14 17
Illustrative Yield @ Par (30/360) 6.94% 6.93% 6.93% 6.91% 6.89% 6.88% 6.86% 6.84%
- -----------------------------------------------------------------------------------------------------------------------------------
<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) 12.22 8.79 7.62 6.71 6.00 5.41 4.75 4.18
Modified Duration (years) 8.13 6.40 5.77 5.25 4.82 4.44 3.99 3.57
First Principal Payment 04/25/02 04/25/02 04/25/02 04/25/02 04/25/02 06/25/02 07/25/02 09/25/02
Last Principal Payment 01/25/14 01/25/14 11/25/12 07/25/08 04/25/06 03/25/05 03/25/04 06/25/03
Principal Lockout (months) 36 36 36 36 36 38 39 41
Principal Window (months) 142 142 128 76 49 34 21 10
Illustrative Yield @ Par (30/360) 6.45% 6.44% 6.43% 6.43% 6.42% 6.41% 6.40% 6.39%
- -----------------------------------------------------------------------------------------------------------------------------------
<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) 24.81 14.33 9.51 6.42 4.93 4.29 3.83 3.57
Modified Duration (years) 9.98 7.89 6.14 4.69 3.83 3.44 3.14 2.97
First Principal Payment 04/25/17 11/25/07 03/25/04 08/25/02 04/25/02 04/25/02 05/25/02 05/25/02
Last Principal Payment 06/25/27 01/25/18 11/25/12 07/25/08 04/25/06 03/25/05 03/25/04 06/25/03
Principal Lockout (months) 216 103 59 40 36 36 37 37
Principal Window (months) 123 123 105 72 49 36 23 14
Illustrative Yield @ Par (30/360) 8.60% 8.58% 8.56% 8.53% 8.50% 8.49% 8.47% 8.46%
- --------------------------------------------------------------------------------------------------------------------------------
<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) 20.75 8.28 4.82 3.30 2.52 2.05 1.71 1.47
Modified Duration (years) 11.78 5.97 3.88 2.83 2.23 1.85 1.57 1.36
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 06/25/27 01/25/18 11/25/12 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) 339 226 164 112 85 72 60 51
Illustrative Yield @ Par 5.30% 5.30% 5.31% 5.31% 5.31% 5.31% 5.31% 5.31%
- -----------------------------------------------------------------------------------------------------------------------------------
</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 1999-2
- --------------------------------------------------------------------------------
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 91 76 63 48 35 26 15 4
3/25/01 86 51 23 0 0 0 0 0
3/25/02 82 30 0 0 0 0 0 0
3/25/03 78 11 0 0 0 0 0 0
3/25/04 74 0 0 0 0 0 0 0
3/25/05 69 0 0 0 0 0 0 0
3/25/06 64 0 0 0 0 0 0 0
3/25/07 59 0 0 0 0 0 0 0
3/25/08 54 0 0 0 0 0 0 0
3/25/09 48 0 0 0 0 0 0 0
3/25/10 42 0 0 0 0 0 0 0
3/25/11 35 0 0 0 0 0 0 0
3/25/12 28 0 0 0 0 0 0 0
3/25/13 19 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 8.88 2.21 1.39 1.02 0.85 0.77 0.70 0.64
</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 12
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-2
- --------------------------------------------------------------------------------
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
3/25/00 100 100 100 100 100 100 100 100
3/25/01 100 100 100 87 45 18 0 0
3/25/02 100 100 83 15 0 0 0 0
3/25/03 100 100 38 0 0 0 0 0
3/25/04 100 88 0 0 0 0 0 0
3/25/05 100 61 0 0 0 0 0 0
3/25/06 100 37 0 0 0 0 0 0
3/25/07 100 19 0 0 0 0 0 0
3/25/08 100 2 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 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 14.83 6.64 3.79 2.55 2.00 1.75 1.52 1.35
</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 1999-2
- --------------------------------------------------------------------------------
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 75 22
3/25/02 100 100 100 100 38 0 0 0
3/25/03 100 100 100 43 0 0 0 0
3/25/04 100 100 98 0 0 0 0 0
3/25/05 100 100 51 0 0 0 0 0
3/25/06 100 100 11 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 77 0 0 0 0 0 0
3/25/10 100 51 0 0 0 0 0 0
3/25/11 100 26 0 0 0 0 0 0
3/25/12 100 2 0 0 0 0 0 0
3/25/13 100 0 0 0 0 0 0 0
3/25/14 88 0 0 0 0 0 0 0
3/25/15 73 0 0 0 0 0 0 0
3/25/16 56 0 0 0 0 0 0 0
3/25/17 38 0 0 0 0 0 0 0
3/25/18 20 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 17.34 11.09 6.12 3.97 3.00 2.55 2.18 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 1999-2
- --------------------------------------------------------------------------------
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 72 0 0
3/25/03 100 100 100 100 45 0 0 0
3/25/04 100 100 100 71 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 78 0 0 0 0 0
3/25/08 100 100 37 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 65 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 99 0 0 0 0 0 0 0
3/25/20 73 0 0 0 0 0 0 0
3/25/21 49 0 0 0 0 0 0 0
3/25/22 23 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 21.96 14.27 8.73 5.32 4.00 3.35 2.69 2.33
</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 1999-2
- --------------------------------------------------------------------------------
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 69 0
3/25/03 100 100 100 100 100 70 0 0
3/25/04 100 100 100 100 44 0 0 0
3/25/05 100 100 100 98 0 0 0 0
3/25/06 100 100 100 35 0 0 0 0
3/25/07 100 100 100 4 0 0 0 0
3/25/08 100 100 100 0 0 0 0 0
3/25/09 100 100 98 0 0 0 0 0
3/25/10 100 100 57 0 0 0 0 0
3/25/11 100 100 19 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 1 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
3/25/22 100 0 0 0 0 0 0 0
3/25/23 93 0 0 0 0 0 0 0
3/25/24 55 0 0 0 0 0 0 0
3/25/25 13 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 25.14 14.84 11.24 6.89 5.00 4.23 3.41 2.70
</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 1999-2
- --------------------------------------------------------------------------------
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 83
3/25/03 100 100 100 100 100 100 91 55
3/25/04 100 100 100 100 100 85 49 22
3/25/05 100 100 100 100 87 56 29 10
3/25/06 100 100 100 100 63 39 18 5
3/25/07 100 100 100 100 55 35 17 5
3/25/08 100 100 100 84 43 26 11 3
3/25/09 100 100 100 67 32 16 5 0
3/25/10 100 100 100 53 22 9 1 0
3/25/11 100 100 100 42 14 4 0 0
3/25/12 100 100 93 32 9 1 0 0
3/25/13 100 100 77 24 4 0 0 0
3/25/14 100 100 38 8 0 0 0 0
3/25/15 100 89 31 5 0 0 0 0
3/25/16 100 79 26 3 0 0 0 0
3/25/17 100 69 20 1 0 0 0 0
3/25/18 100 59 15 0 0 0 0 0
3/25/19 100 51 11 0 0 0 0 0
3/25/20 100 44 8 0 0 0 0 0
3/25/21 100 38 6 0 0 0 0 0
3/25/22 100 32 4 0 0 0 0 0
3/25/23 100 26 2 0 0 0 0 0
3/25/24 100 21 0 0 0 0 0 0
3/25/25 100 16 0 0 0 0 0 0
3/25/26 83 10 0 0 0 0 0 0
3/25/27 56 5 0 0 0 0 0 0
3/25/28 27 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 28.20 20.92 15.93 11.74 8.85 7.29 5.76 4.47
(to call) 27.79 18.08 13.57 9.20 6.78 5.69 4.70 3.88
</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 1999-2
- --------------------------------------------------------------------------------
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 89 88 87 87 88
3/25/04 99 92 85 80 76 74 71 70
3/25/05 97 85 75 66 59 55 50 46
3/25/06 95 76 64 52 43 38 32 24
3/25/07 88 55 39 24 16 12 7 6
3/25/08 81 39 24 11 6 3 1 0
3/25/09 74 29 14 5 2 1 0 0
3/25/10 67 21 8 2 1 0 0 0
3/25/11 60 15 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 12.22 8.79 7.63 6.83 6.40 6.20 6.00 5.86
(to call) 12.22 8.79 7.62 6.71 6.00 5.41 4.75 4.18
</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 1999-2
- --------------------------------------------------------------------------------
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 97 92 87 82 77 72 67 62
3/25/01 96 83 70 59 48 38 30 22
3/25/02 96 75 57 42 29 20 12 7
3/25/03 95 67 46 30 20 12 7 3
3/25/04 94 60 37 22 13 7 3 1
3/25/05 94 54 30 16 8 4 1 1
3/25/06 93 48 25 12 5 2 1 0
3/25/07 92 43 20 9 3 1 0 0
3/25/08 91 39 16 6 2 1 0 0
3/25/09 89 35 13 5 1 0 0 0
3/25/10 88 31 11 3 1 0 0 0
3/25/11 86 28 9 2 0 0 0 0
3/25/12 85 25 7 2 0 0 0 0
3/25/13 83 23 6 1 0 0 0 0
3/25/14 77 20 5 1 0 0 0 0
3/25/15 75 18 4 0 0 0 0 0
3/25/16 72 16 3 0 0 0 0 0
3/25/17 69 14 2 0 0 0 0 0
3/25/18 66 12 2 0 0 0 0 0
3/25/19 63 11 1 0 0 0 0 0
3/25/20 59 9 1 0 0 0 0 0
3/25/21 55 8 1 0 0 0 0 0
3/25/22 50 6 0 0 0 0 0 0
3/25/23 45 5 0 0 0 0 0 0
3/25/24 39 4 0 0 0 0 0 0
3/25/25 33 3 0 0 0 0 0 0
3/25/26 25 2 0 0 0 0 0 0
3/25/27 17 1 0 0 0 0 0 0
3/25/28 8 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 20.87 8.85 5.06 3.46 2.63 2.11 1.75 1.49
(to call) 20.75 8.28 4.82 3.30 2.52 2.05 1.71 1.47
</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 1999-2
- --------------------------------------------------------------------------------
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 85 61 47 34 24
3/25/04 100 100 100 65 43 31 21 10
3/25/05 100 100 84 50 31 21 9 0
3/25/06 100 100 71 39 22 10 1 0
3/25/07 100 100 60 30 13 3 0 0
3/25/08 100 96 50 23 5 0 0 0
3/25/09 100 87 42 16 0 0 0 0
3/25/10 100 78 35 10 0 0 0 0
3/25/11 100 70 29 4 0 0 0 0
3/25/12 100 63 24 0 0 0 0 0
3/25/13 100 56 20 0 0 0 0 0
3/25/14 100 35 5 0 0 0 0 0
3/25/15 100 31 2 0 0 0 0 0
3/25/16 100 27 0 0 0 0 0 0
3/25/17 100 24 0 0 0 0 0 0
3/25/18 95 21 0 0 0 0 0 0
3/25/19 88 17 0 0 0 0 0 0
3/25/20 82 12 0 0 0 0 0 0
3/25/21 77 9 0 0 0 0 0 0
3/25/22 70 6 0 0 0 0 0 0
3/25/23 63 2 0 0 0 0 0 0
3/25/24 55 0 0 0 0 0 0 0
3/25/25 45 0 0 0 0 0 0 0
3/25/26 35 0 0 0 0 0 0 0
3/25/27 24 0 0 0 0 0 0 0
3/25/28 5 0 0 0 0 0 0 0
3/25/29 0 0 0 0 0 0 0 0
Weighted Average Life Years 24.93 14.94 9.79 6.78 5.21 4.52 4.03 3.74
(to call) 24.81 14.33 9.51 6.42 4.93 4.29 3.83 3.57
</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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
1 9.628% 9.782%
2 9.430% 9.791%
3 9.425% 9.798%
4 9.419% 9.800%
5 9.412% 9.801%
6 9.404% 9.801%
7 9.394% 9.303%
8 9.384% 9.313%
9 9.373% 9.318%
10 9.360% 9.321%
11 9.346% 9.322%
12 9.331% 9.323%
13 9.316% 9.325%
14 9.301% 9.328%
15 9.285% 9.328%
16 9.268% 9.330%
17 9.251% 9.331%
18 9.234% 9.332%
19 9.216% 9.333%
20 9.197% 9.333%
21 9.178% 9.333%
22 9.159% 10.438%
23 9.139% 10.438%
24 9.118% 10.438%
25 9.097% 10.439%
26 9.076% 10.439%
27 9.053% 10.440%
28 9.030% 10.440%
29 9.007% 10.440%
30 8.983% 10.441%
31 9.933% 10.441%
32 9.934% 10.442%
33 9.934% 10.442%
34 9.935% 10.671%
35 9.935% 10.672%
36 9.936% 10.672%
37 9.936% 10.673%
38 9.933% 10.670%
39 9.933% 10.670%
40 9.933% 10.670%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
41 9.933% 10.670%
42 9.933% 10.670%
43 9.933% 10.670%
44 9.933% 10.670%
45 9.933% 10.670%
46 9.933% 10.670%
47 9.933% 10.669%
48 9.933% 10.669%
49 9.933% 10.669%
50 9.933% 10.669%
51 9.933% 10.669%
52 9.933% 10.669%
53 9.932% 10.669%
54 9.932% 10.669%
55 9.932% 10.669%
56 9.932% 10.669%
57 9.932% 10.669%
58 9.932% 10.668%
59 9.932% 10.668%
60 9.932% 10.668%
61 9.932% 10.668%
62 9.932% 10.668%
63 9.932% 10.668%
64 9.931% 10.668%
65 9.931% 10.668%
66 9.931% 10.667%
67 9.931% 10.667%
68 9.931% 10.667%
69 9.931% 10.667%
70 9.931% 10.667%
71 9.931% 10.667%
72 9.930% 10.667%
73 9.930% 10.666%
74 9.930% 10.666%
75 9.930% 10.666%
76 9.930% 10.666%
77 9.930% 10.666%
78 9.929% 10.665%
79 9.929% 10.665%
80 9.929% 10.665%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
81 9.929% 10.665%
82 9.929% 10.665%
83 9.928% 10.664%
84 9.928% 10.664%
85 9.928% 10.664%
86 9.928% 10.664%
87 9.928% 10.663%
88 9.927% 10.663%
89 9.927% 10.663%
90 9.927% 10.663%
91 9.927% 10.662%
92 9.926% 10.662%
93 9.926% 10.662%
94 9.926% 10.661%
95 9.926% 10.661%
96 9.925% 10.661%
97 9.925% 10.660%
98 9.925% 10.660%
99 9.924% 10.660%
100 9.924% 10.659%
101 9.924% 10.659%
102 9.923% 10.659%
103 9.923% 10.658%
104 9.923% 10.658%
105 9.922% 10.657%
106 9.922% 10.657%
107 9.921% 10.657%
108 9.921% 10.656%
109 9.920% 10.656%
110 9.920% 10.655%
111 9.920% 10.655%
112 9.919% 10.654%
113 9.919% 10.654%
114 9.918% 10.653%
115 9.918% 10.652%
116 9.917% 10.652%
117 9.917% 10.651%
118 9.916% 10.651%
119 9.915% 10.650%
120 9.915% 10.649%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
121 9.914% 10.649%
122 9.914% 10.648%
123 9.914% 10.648%
124 9.914% 10.648%
125 9.914% 10.648%
126 9.913% 10.648%
127 9.913% 10.647%
128 9.913% 10.647%
129 9.913% 10.647%
130 9.913% 10.647%
131 9.913% 10.646%
132 9.912% 10.646%
133 9.912% 10.646%
134 9.912% 10.646%
135 9.912% 10.645%
136 9.911% 10.645%
137 9.911% 10.645%
138 9.911% 10.644%
139 9.911% 10.644%
140 9.910% 10.644%
141 9.910% 10.643%
142 9.909% 10.643%
143 9.908% 10.643%
144 9.908% 10.642%
145 9.908% 10.642%
146 9.907% 10.641%
147 9.907% 10.641%
148 9.907% 10.641%
149 9.906% 10.640%
150 9.906% 10.640%
151 9.906% 10.639%
152 9.905% 10.639%
153 9.905% 10.638%
154 9.904% 10.638%
155 9.904% 10.637%
156 9.904% 10.637%
157 9.903% 10.636%
158 9.903% 10.635%
159 9.902% 10.635%
160 9.902% 10.634%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
161 9.901% 10.634%
162 9.900% 10.633%
163 9.900% 10.632%
164 9.899% 10.632%
165 9.899% 10.631%
166 9.898% 10.630%
167 9.897% 10.629%
168 9.897% 10.628%
169 9.896% 10.628%
170 9.895% 10.627%
171 9.894% 10.626%
172 9.894% 10.625%
173 9.893% 10.624%
174 9.892% 10.623%
175 9.891% 10.622%
176 9.890% 10.621%
177 9.889% 10.620%
178 9.888% 10.619%
179 9.832% 10.779%
180 9.832% 10.779%
181 9.832% 10.779%
182 9.831% 10.779%
183 9.831% 10.779%
184 9.831% 10.779%
185 9.831% 10.779%
186 9.831% 10.779%
187 9.830% 10.779%
188 9.830% 10.779%
189 9.830% 10.779%
190 9.830% 10.779%
191 9.829% 10.779%
192 9.829% 10.779%
193 9.829% 10.779%
194 9.829% 10.779%
195 9.829% 10.779%
196 9.828% 10.779%
197 9.828% 10.779%
198 9.828% 10.779%
199 9.828% 10.779%
200 9.827% 10.779%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
201 9.827% 10.779%
202 9.827% 10.779%
203 9.826% 10.779%
204 9.826% 10.779%
205 9.826% 10.779%
206 9.826% 10.779%
207 9.825% 10.779%
208 9.825% 10.779%
209 9.825% 10.779%
210 9.824% 10.779%
211 9.824% 10.779%
212 9.824% 10.779%
213 9.823% 10.779%
214 9.823% 10.779%
215 9.823% 10.779%
216 9.822% 10.779%
217 9.822% 10.779%
218 9.822% 10.779%
219 9.821% 10.779%
220 9.821% 10.779%
221 9.820% 10.779%
222 9.820% 10.779%
223 9.820% 10.779%
224 9.819% 10.779%
225 9.819% 10.779%
226 9.818% 10.779%
227 9.818% 10.779%
228 9.818% 10.779%
229 9.817% 10.779%
230 9.817% 10.779%
231 9.816% 10.779%
232 9.816% 10.779%
233 9.815% 10.779%
234 9.815% 10.779%
235 9.814% 10.779%
236 9.814% 10.779%
237 9.813% 10.779%
238 9.812% 10.779%
239 9.812% 10.779%
240 9.811% 10.779%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
241 9.811% 10.779%
242 9.810% 10.779%
243 9.809% 10.779%
244 9.809% 10.779%
245 9.808% 10.779%
246 9.808% 10.779%
247 9.808% 10.779%
248 9.808% 10.779%
249 9.808% 10.779%
250 9.808% 10.779%
251 9.808% 10.779%
252 9.808% 10.779%
253 9.808% 10.779%
254 9.808% 10.779%
255 9.808% 10.779%
256 9.808% 10.779%
257 9.808% 10.779%
258 9.808% 10.779%
259 9.808% 10.779%
260 9.808% 10.779%
261 9.808% 10.778%
262 9.808% 10.779%
263 9.808% 10.778%
264 9.808% 10.779%
265 9.808% 10.779%
266 9.808% 10.778%
267 9.808% 10.780%
268 9.808% 10.779%
269 9.808% 10.779%
270 9.808% 10.780%
271 9.808% 10.779%
272 9.808% 10.779%
273 9.808% 10.778%
274 9.808% 10.779%
275 9.808% 10.779%
276 9.808% 10.779%
277 9.808% 10.779%
278 9.808% 10.780%
279 9.808% 10.780%
280 9.808% 10.780%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
281 9.808% 10.779%
282 9.808% 10.779%
283 9.808% 10.779%
284 9.808% 10.778%
285 9.808% 10.778%
286 9.808% 10.778%
287 9.808% 10.779%
288 9.808% 10.778%
289 9.808% 10.779%
290 9.808% 10.780%
291 9.808% 10.779%
292 9.808% 10.778%
293 9.808% 10.780%
294 9.808% 10.778%
295 9.808% 10.779%
296 9.808% 10.778%
297 9.808% 10.778%
298 9.808% 10.781%
299 9.808% 10.778%
300 9.808% 10.780%
301 9.808% 10.776%
302 9.808% 10.780%
303 9.808% 10.781%
304 9.808% 10.778%
305 9.808% 10.780%
306 9.808% 10.780%
307 9.808% 10.781%
308 9.808% 10.781%
309 9.808% 10.783%
310 9.808% 10.779%
311 9.808% 10.778%
312 9.808% 10.782%
313 9.808% 10.782%
314 9.808% 10.778%
315 9.808% 10.784%
316 9.808% 10.776%
317 9.808% 10.780%
318 9.808% 10.785%
319 9.808% 10.777%
320 9.808% 10.771%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Available Funds Cap
Group I Group II
Net Available Net Available
Period Funds Cap Funds Cap
- -----------------------------------------
321 9.808% 10.788%
322 9.808% 10.774%
323 9.808% 10.788%
324 9.808% 10.770%
325 9.808% 10.786%
326 9.808% 10.768%
327 9.808% 10.766%
328 9.808% 10.784%
329 9.808% 10.767%
330 9.808% 10.773%
331 9.808% 10.776%
332 9.807% 10.777%
333 9.807% 10.775%
334 9.809% 10.773%
335 9.807% 10.773%
336 9.808% 10.777%
337 9.808% 10.788%
338 9.807% 10.752%
339 9.808% 10.785%
340 9.807% 10.771%
341 9.808% 10.775%
342 9.808% 10.802%
343 9.808% 10.775%
344 9.809% 10.777%
345 9.808% 10.821%
346 9.808% 10.802%
347 9.806% 10.839%
348 9.809% 10.800%
349 9.810% 10.836%
350 9.809% 10.779%
351 9.806% 10.832%
352 9.812% 10.773%
353 9.806% 10.894%
354 9.805% 10.888%
355 9.803% 10.617%
356 9.805% 10.677%
357 9.821% 10.008%
358 9.794% 0.000%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Collateral Description (Fixed Rate Collateral)
<TABLE>
<CAPTION>
Group I
-------
<S> <C>
Statistical Cut-Off Date 3/3/99
Total Outstanding Balance: $384,757,233.36
Number of Loans: 6,291
Average Remaining Balance: $61,159.95 (range: $6,300.00- $348,330.38)
Interest Rate Index: 100.00% fixed-rate loans
WA Gross Coupon: 10.54% (range: 6.85 - 18.99%)
Original Weighted Average Term: 261.00 months (range: 60 - 360 months)
Remaining Weighted Average Term: 260.00 months (range: 56 - 360 months)
WA Seasoning: 1.83 months (range: 0 - 101 months)
WA Lien Position: 93.10% first, 6.90% second
WA Original LTV Ratio: 75.20% (range: 5% - 100%)
WA Original CLTV Ratio: 79.23% (range: 10% - 100%)
WA Debt to Income Ratio: 38.23% (range: 3% - 60%)
Credit Grade: 63.41% A,
19.92% B,
14.00% C,
2.66% D
Documentation: 91.87% full doc,
5.17% limited doc,
2.96% no doc
Property Type: 2.16% single family attached,
81.56% single family detached,
8.79% 2-4 family,
1.26% PUD,
0.72% condo,
5.23% man. Housing,
0.27% mixed use
Owner Occupancy: 92.66% owner occupied, 7.34% investor owned
Loan Purpose: 26.39% cash out refi,
53.07% debt consolidation,
2.15% home improvement,
5.47% purchase,
12.92% other
Geographic Distribution: MI (12.03%), OH (9.30%), IL (8.48%), PA
(all states more than or equal to 5.00%) (6.03%), NY (5.90%), FL (5.11%)
</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 30
<PAGE>
Collateral Description (Adjustable Rate Collateral)
<TABLE>
<CAPTION>
Group II
--------
<S> <C>
Statistical Cut-Off Date: 3/3/99
Total Outstanding Balance: $141,978,664.20
Number of Loans: 1,706
Average Remaining Balance: $83,233.13 (range: $14,976.07 - $249,863.00)
Interest Rate Index: 76.64% 2/28 LIBOR
21.25% 3/27 LIBOR
2.11% 6 month LIBOR
WA Gross Coupon: 10.40% (range: 7.25% - 15.95%)
WA Gross Margin / 6.714% / 16.811%
WA Life Cap:
WA Initial Periodic Interest 2.848% (range: 1.00% - 3.00%)
Rate Caps:
WA Months to Roll 22.83 months (range: 0 - 36 months)
(Cut-Off Date 2/11/99):
Original Weighted Average Term: 360.0 Months (range: 360 - 360 months)
Remaining Weighted Average Term: 356.6 Months (range: 346 - 360 months)
WA Seasoning: 3.35 Months (range: 0 - 14 months)
WA Lien Position: 100% first lien
WA Original LTV Ratio: 79.44% (range: 13% - 100%)
WA Original CLTV Ratio: 79.44% (range: 13% - 100%)
WA Debt to Income Ratio: 39.43% (range: 4% - 57%)
Credit Grade: 50.37% A,
25.74% B,
20.38% C,
3.51% D
Documentation: 89.26% full doc,
6.22% limited doc,
4.52% no doc
Property Type: 1.27% single family attached,
83.79% single family detached,
5.42% 2-4 family,
3.13% PUD,
1.21% condo,
5.06% man. Housing,
0.11% mixed use
Owner Occupancy: 95.50% owner occupied, 4.50% investor owned
Loan Purpose: 24.92% cash out refi
37.04% debt consolidation,
3.61% home improvement,
23.88% purchase,
10.55% other
Geographic Distribution: CA (13.21%), MI (13.19%), IL (7.68%)
(all states more than or equal to 5.00%) OH (5.66%)
</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 31
<PAGE>
CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-2
- -------------------------------------------------------------------------------
Computational Materials
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 1999-2
- -------------------------------------------------------------------------------
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 116 $ 7,322,108.20 1.90%
Arkansas 49 2,099,094.07 0.55
California 182 15,023,396.31 3.90
Colorado 95 7,117,869.06 1.85
Connecticut 48 3,423,769.26 0.89
Delaware 6 431,450.82 0.11
District of Columbia 15 1,205,050.60 0.31
Florida 356 19,674,282.04 5.11
Georgia 300 18,967,776.59 4.93
Idaho 13 733,606.08 0.19
Illinois 469 32,613,792.53 8.48
Indiana 285 15,066,094.37 3.92
Iowa 28 1,695,318.02 0.44
Kansas 21 1,140,883.59 0.30
Kentucky 111 5,676,616.93 1.48
Louisiana 100 4,810,604.84 1.25
Maine 16 804,404.49 0.21
Maryland 152 10,477,497.10 2.72
Massachusetts 110 6,909,451.92 1.80
Michigan 829 46,300,060.70 12.03
Minnesota 55 3,402,994.99 0.88
Mississippi 72 3,187,604.03 0.83
Missouri 144 7,817,717.21 2.03
Montana 6 361,077.95 0.09
Nebraska 30 1,649,019.94 0.43
Nevada 30 2,607,602.61 0.68
New Hampshire 25 1,678,759.36 0.44
New Jersey 125 9,832,359.68 2.56
New Mexico 88 5,645,448.82 1.47
New York 312 22,718,154.51 5.90
North Carolina 331 18,292,174.82 4.75
North Dakota 6 309,044.51 0.08
Ohio 580 35,793,063.03 9.30
Oklahoma 30 1,419,569.76 0.37
Oregon 23 1,558,085.72 0.40
Pennsylvania 414 23,219,277.92 6.03
Rhode Island 26 1,629,917.43 0.42
South Carolina 125 7,123,003.37 1.85
South Dakota 4 201,216.59 0.05
Tennessee 114 7,555,574.89 1.96
Texas 144 9,051,866.10 2.35
Utah 47 2,963,910.61 0.77
Vermont 6 303,596.22 0.08
Virginia 101 5,176,450.89 1.35
Washington 45 3,703,103.01 0.96
West Virginia 52 2,812,200.88 0.73
Wisconsin 51 2,988,170.52 0.78
Wyoming 4 263,140.47 0.07
- -------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Distribution of Loan Balances - Fixed Rate Loans
Range of Number of Aggregate % of Aggregate
Current Balance Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 25,000.00 1,001 $ 19,113,456.72 4.97%
25,000.01 - 50,000.00 1,928 72,470,114.43 18.84
50,000.01 - 75,000.00 1,667 102,373,779.43 26.61
75,000.01 - 100,000.00 801 69,103,457.93 17.96
100,000.01 - 125,000.00 435 48,400,745.08 12.58
125,000.01 - 150,000.00 233 31,746,993.39 8.25
150,000.01 - 175,000.00 105 16,849,142.86 4.38
175,000.01 - 200,000.00 63 11,864,080.97 3.08
200,000.01 - 225,000.00 49 10,359,705.30 2.69
225,000.01 - 250,000.00 4 975,973.50 0.25
250,000.01 - 275,000.00 2 531,000.00 0.14
275,000.01 - 300,000.00 1 284,703.37 0.07
325,000.01 - 350,000.00 2 684,080.38 0.18
- --------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Original Loan-to-Value Ratios - Fixed Rate Loans
Range of Number of Aggregate % of Aggregate
Original LTVs Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- 5.00 5 $ 54,820.49 0.01%
5.01 - 10.00 71 1,124,805.51 0.29
10.01 - 15.00 250 4,952,554.07 1.29
15.01 - 20.00 288 6,794,980.18 1.77
20.01 - 25.00 192 5,671,751.98 1.47
25.01 - 30.00 129 4,196,324.81 1.09
30.01 - 35.00 102 3,609,748.83 0.94
35.01 - 40.00 103 3,863,275.62 1.00
40.01 - 45.00 102 4,184,366.29 1.09
45.01 - 50.00 141 5,486,295.14 1.43
50.01 - 55.00 123 5,847,719.82 1.52
55.01 - 60.00 192 9,507,227.79 2.47
60.01 - 65.00 276 14,194,554.19 3.69
65.01 - 70.00 416 23,689,034.85 6.16
70.01 - 75.00 672 40,378,382.16 10.49
75.01 - 80.00 1,255 87,092,289.24 22.64
80.01 - 85.00 789 62,999,655.54 16.37
85.01 - 90.00 1,134 96,528,701.49 25.09
90.01 - 95.00 47 4,364,646.87 1.13
95.01 - 100.00 4 216,098.49 0.06
- -----------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Combined Loan-to-Value Ratios - Fixed Rate Loans
Range of Number of Aggregate % of Aggregate
Original CLTVs Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.01 - 10.00 1 $ 14,927.39 0.00%
10.01 - 15.00 9 173,692.87 0.05
15.01 - 20.00 23 598,360.24 0.16
20.01 - 25.00 29 919,121.89 0.24
25.01 - 30.00 34 916,876.15 0.24
30.01 - 35.00 50 1,754,191.50 0.46
35.01 - 40.00 77 2,623,721.00 0.68
40.01 - 45.00 82 3,175,444.04 0.83
45.01 - 50.00 138 5,138,528.64 1.34
50.01 - 55.00 131 5,820,913.89 1.51
55.01 - 60.00 198 9,554,840.86 2.48
60.01 - 65.00 298 14,845,275.90 3.86
65.01 - 70.00 449 24,260,433.77 6.31
70.01 - 75.00 725 41,803,534.92 10.86
75.01 - 80.00 1,349 89,725,754.60 23.32
80.01 - 85.00 986 67,893,828.99 17.65
85.01 - 90.00 1,609 109,972,078.11 28.58
90.01 - 95.00 51 4,450,091.26 1.16
95.01 - 100.00 52 1,115,617.34 0.29
- ----------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Distribution of Current Coupon Rates - Fixed Rate Loans
Range of Number of Aggregate % of Aggregate
Coupon Rates Home Equity Loans Loan Balance Loan Balance
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6.51 - 7.00 3 $ 292,872.95 0.08%
7.01 - 7.50 26 2,505,789.00 0.65
7.51 - 8.00 118 10,590,052.89 2.75
8.01 - 8.50 151 12,114,889.63 3.15
8.51 - 9.00 412 31,915,597.62 8.29
9.01 - 9.50 483 35,053,994.04 9.11
9.51 - 10.00 865 60,535,285.83 15.73
10.01 - 10.50 780 49,327,433.51 12.82
10.51 - 11.00 982 59,913,696.46 15.57
11.01 - 11.50 714 38,724,568.95 10.06
11.51 - 12.00 657 33,672,613.49 8.75
12.01 - 12.50 446 20,613,477.29 5.36
12.51 - 13.00 255 11,434,259.53 2.97
13.01 - 13.50 118 5,232,789.73 1.36
13.51 - 14.00 110 4,950,201.37 1.29
14.01 - 14.50 67 3,085,189.96 0.80
14.51 - 15.00 50 2,257,384.60 0.59
15.01 - 15.50 28 1,344,815.65 0.35
15.51 - 16.00 20 911,078.58 0.24
16.01 - 16.50 4 169,255.81 0.04
16.51 - 17.00 1 54,989.65 0.01
18.51 - 1 56,996.82 0.01
- ------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<TABLE>
<CAPTION>
Distribution of Remaining Terms to Maturity - Fixed Rate Loans
Range of Number of Aggregate % of Aggregate
Remaining to Maturity Home Equity Loans Loan Balance Loan Balance
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- 60 26 $ 469,188.71 0.12%
61 - 119 271 7,044,213.57 1.83
120 - 180 3,075 176,085,566.60 45.77
181 - 300 743 38,052,769.19 9.89
301 - 360 2,176 163,105,495.29 42.39
- ------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
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
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0 - 1 3,293 $216,953,891.17 56.39
2 - 12 2,980 166,885,571.29 43.37
13 - 18 917,770.90 0.24
- -----------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<TABLE>
<CAPTION>
Property Types - Fixed Rate Loans
Number of Aggregate % of Aggregate
Property Types Home Equity Loans Loan Balance Loan Balance
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family Attached 167 $ 8,326,065.58 2.16%
Single Family Detached 5,199 313,802,260.93 81.56
Condominium 54 2,768,968.42 0.72
Two to Four-Family Residence 440 33,821,585.17 8.79
Planned Unit Development 62 4,853,552.84 1.26
Manufactured Housing 357 20,140,700.97 5.23
Mixed Use 12 1,044,099.45 0.27
- ------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<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 5,754 $356,527,296.62 92.66%
Investor Owned 537 28,229,936.74 7.34
- ---------------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
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
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0 - 60 25 $ 445,833.52 0.12%
61 - 120 281 7,499,801.88 1.95
121 - 180 3,066 175,653,333.48 45.65
181 - 240 676 33,957,287.20 8.83
241 - 300 67 4,095,481.99 1.06
301 - 360 2,176 163,105,495.29 42.39
- ----------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<TABLE>
<CAPTION>
Days Delinquent - Fixed Rate Loans
Number of Aggregate % of Aggregate
Days Delinquent Home Equity Loans Loan Balance Loan Balance
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 90 $ 5,677,569.85 1.48%
60-89 DAYS 8 606,978.11 0.16
CURRENT 6,193 378,472,685.40 98.37
- ----------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<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>
0 - 5.00 10 $ 503,480.34 0.13%
5.01 - 10.00 39 2,045,940.16 0.53
10.01 - 15.00 152 5,808,309.95 1.51
15.01 - 20.00 322 14,146,505.26 3.68
20.01 - 25.00 476 24,124,634.93 6.27
25.01 - 30.00 708 40,970,361.81 10.65
30.01 - 35.00 845 49,895,110.94 12.97
35.01 - 40.00 923 55,996,471.09 14.55
40.01 - 45.00 1,261 82,514,751.38 21.45
45.01 - 50.00 1,414 96,338,127.03 25.04
50.01 - 55.00 129 11,043,141.07 2.87
55.01 - 60.00 12 1,370,399.40 0.36
- ----------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Lien Position - Fixed Rate Loans
Number of Aggregate % of Aggregate
Lien Position Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1 5,301 $358,219,749.40 93.10%
2 990 26,537,483.96 6.90
- -----------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<TABLE>
<CAPTION>
Loan Type - Fixed Rate Loans
Number of Aggregate % of Aggregate
Loan Type Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
10yr balloon 13 $ 381,767.64 0.10%
15yr balloon 1,951 131,650,668.16 34.22
fxd rate fully amortizing 4,327 252,724,797.56 65.68
- -----------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<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 1,759 $101,547,895.91 26.39%
DEBT CONSOLIDATION 3,402 204,205,637.32 53.07
HOME IMPROVEMENT 121 8,262,190.66 2.15
NEW CONSTRUCTION 6 588,963.15 0.15
PURCHASE 289 21,034,230.89 5.47
RATE/TERM REFI 360 27,151,802.42 7.06
OTHER 354 21,966,513.01 5.71
- -----------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
Computational Materials
Group I Home Equity Loans
<TABLE>
<CAPTION>
Documentation Level - Fixed Rate Loans
Number of Aggregate % of Aggregate
Documentation Level Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
FULL DOC 5,847 $53,457,501.33 91.87%
LIMITED 277 19,892,647.11 5.17
NO DOC 167 11,407,084.92 2.96
- ---------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $84,757,233.36 100.00%
</TABLE>
<TABLE>
<CAPTION>
Credit Score - Fixed Rate Loans
Number of Aggregate % of Aggregate
Credit Score Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
A 3,734 $243,983,886.59 63.%1
B 1,304 76,656,967.28 19.92
C 1,018 53,885,098.47 14.00
D 235 10,231,281.02 2.66
- ---------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- -------------------------------------------------------------------------------
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>
0.00 - 5.00 5,301 $358,219,749.40 93.%0
5.01 - 10.00 19 271,664.58 0.07
10.01 - 15.00 122 2,111,578.55 0.55
15.01 - 20.00 264 5,332,035.73 1.39
20.01 - 25.00 171 4,501,704.11 1.17
25.01 - 30.00 125 3,502,992.70 0.91
30.01 - 35.00 112 3,522,882.45 0.92
35.01 - 40.00 43 1,572,340.36 0.41
40.01 - 45.00 43 1,677,435.94 0.44
45.01 - 50.00 28 1,138,312.92 0.30
50.01 - 55.00 18 749,899.88 0.19
55.01 - 60.00 15 807,946.11 0.21
60.01 - 65.00 5 132,502.43 0.03
65.01 - 70.00 3 85,300.31 0.02
70.01 - 75.00 8 310,149.24 0.08
75.01 - 80.00 6 326,298.90 0.08
80.01 - 85.00 5 317,459.18 0.08
85.01 - 90.00 3 176,980.57 0.05
- ---------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</TABLE>
<TABLE>
<CAPTION>
Prepay Penalty - Fixed Rate Loans
Number of Aggregate % of Aggregate
Prepay Penalty Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Y 4,266 $276,635,173.80 71.%0
N 2,025 108,122,059.56 28.10
- ---------------------------------------------------------------------------------------------------------------------------
Total: 6,291 $384,757,233.36 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
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 49 $ 4,380,110.80 3.09%
Arkansas 5 291,468.03 0.21
California 141 18,753,419.43 13.21
Colorado 46 4,600,008.73 3.24
Conneticut 10 820,528.39 0.58
District of Columbia 2 209,970.33 0.15
Florida 65 6,253,689.72 4.40
Georgia 32 3,422,214.97 2.41
Hawaii 1 156,927.52 0.11
Idaho 22 1,552,859.26 1.09
Illinois 122 10,908,984.47 7.68
Indiana 104 6,090,737.61 4.29
Iowa 11 473,848.25 0.33
Kansas 16 958,706.13 0.68
Kentucky 16 919,184.98 0.65
Louisiana 10 816,173.98 0.57
Maryland 25 2,395,176.85 1.69
Massachusetts 11 1,368,567.60 0.96
Michigan 302 18,722,693.20 13.19
Minnesota 35 3,085,975.40 2.17
Mississippi 13 970,877.35 0.68
Missouri 54 2,930,575.76 2.06
Montana 4 368,302.43 0.26
Nebraska 2 72,699.23 0.05
Nevada 17 2,136,551.37 1.50
New Hampshire 3 548,676.26 0.39
New Jersey 12 1,346,198.66 0.95
New Mexico 34 2,876,145.83 2.03
New York 21 1,946,572.74 1.37
North Carolina 33 2,423,081.63 1.71
North Dakota 2 134,000.00 0.09
Ohio 119 8,040,929.27 5.66
Oklahoma 9 497,665.87 0.35
Oregon 24 2,626,013.75 1.85
Pennsylvania 42 2,856,643.84 2.01
Rhode Island 3 394,933.88 0.28
South Carolina 22 1,561,924.13 1.10
South Dakota 2 91,926.38 0.06
Tennessee 10 708,407.60 0.50
Texas 74 6,031,678.31 4.25
Utah 59 6,545,064.25 4.61
Vermont 1 29,371.53 0.02
Virginia 21 1,764,696.83 1.24
Washington 47 5,164,121.92 3.64
West Virginia 4 240,489.21 0.17
Wisconsin 47 3,366,199.17 2.37
Wyoming 2 123,671.35 0.09
- ------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
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>
0.00- 25,000.00 47 $ 1,027,095.30 0.72%
25,000.01- 50,000.00 392 15,243,840.78 10.74
50,000.01- 75,000.00 473 29,255,474.36 20.61
75,000.01- 100,000.00 306 26,577,973.51 18.72
100,000.01- 125,000.00 190 21,279,822.73 14.99
125,000.01- 150,000.00 127 17,417,029.44 12.27
150,000.01- 175,000.00 76 12,289,612.59 8.66
175,000.01- 200,000.00 58 10,954,759.85 7.72
200,000.01- 225,000.00 34 7,205,299.06 5.07
225,000.01- 250,000.00 3 727,756.58 0.51
- -----------------------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
<CAPTION>
Original Loan-to-Value Ratios - Adjustable Rate Loans
Range of Number of Aggregate % of Aggregate
Original LTVs Home Equity Loans Loan Balance Loan Balance
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
10.01 - 15.00 3 $ 118,902.19 0.08%
15.01 - 20.00 1 18,590.25 0.01
20.01 - 25.00 3 185,832.13 0.13
25.01 - 30.00 2 60,987.92 0.04
30.01 - 35.00 7 410,981.91 0.29
35.01 - 40.00 5 451,965.71 0.32
40.01 - 45.00 11 612,234.55 0.43
45.01 - 50.00 24 1,239,784.20 0.87
50.01 - 55.00 18 1,235,376.10 0.87
55.01 - 60.00 33 1,946,826.98 1.37
60.01 - 65.00 81 4,703,951.21 3.31
65.01 - 70.00 135 8,391,454.65 5.91
70.01 - 75.00 248 18,934,229.87 13.34
75.01 - 80.00 528 43,961,618.44 30.96
80.01 - 85.00 381 35,758,678.67 25.19
85.01 - 90.00 224 23,738,193.83 16.72
90.01 - 95.00 1 141,555.59 0.10
95.01 100.00 1 67,500.00 0.05
- ---------------------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Combined Loan-to-Value Ratios - Adjustable Rate Loans
<TABLE>
<CAPTION>
Range of Number of Aggregate % of Aggregate
Combined LTVs Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
10.01 - 15.00 3 $ 118,902.19 0.08%
15.01 - 20.00 1 18,590.25 0.01
20.01 - 25.00 3 185,832.13 0.13
25.01 - 30.00 2 60,987.92 0.04
30.01 - 35.00 7 410,981.91 0.29
35.01 - 40.00 5 451,965.71 0.32
40.01 - 45.00 11 612,234.55 0.43
45.01 - 50.00 24 1,239,784.20 0.87
50.01 - 55.00 18 1,235,376.10 0.87
55.01 - 60.00 33 1,946,826.98 1.37
60.01 - 65.00 81 4,703,951.21 3.31
65.01 - 70.00 135 8,391,454.65 5.91
70.01 - 75.00 248 18,934,229.87 13.34
75.01 - 80.00 528 43,961,618.44 30.96
80.01 - 85.00 381 35,758,678.67 25.19
85.01 - 90.00 224 23,738,193.83 16.72
90.01 - 95.00 1 141,555.59 0.10
95.01 100.00 1 67,500.00 0.05
- -----------------------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
<CAPTION>
Distribution of Current Coupon Rates - Adjustable Rate Loans
Range of Number of Aggregate % of Aggregate
Coupon Rates Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
7.01 - 7.50 6 $ 821,004.74 0.58%
7.51 - 8.00 9 1,298,102.28 0.91
8.01 - 8.50 31 3,678,432.05 2.59
8.51 - 9.00 113 12,090,989.09 8.52
9.01 - 9.50 138 13,519,485.11 9.52
9.51 - 10.00 304 29,687,704.28 20.91
10.01 - 10.50 214 17,872,400.35 12.59
10.51 - 11.00 337 27,154,562.89 19.13
11.01 - 11.50 213 15,062,738.84 10.61
11.51 - 12.00 156 10,419,787.92 7.34
12.01 - 12.50 62 4,087,850.16 2.88
12.51 - 13.00 47 2,932,677.55 2.07
13.01 - 13.50 25 1,338,018.93 0.94
13.51 - 14.00 24 872,788.25 0.61
14.01 - 14.50 14 601,326.60 0.42
14.51 - 15.00 7 316,442.58 0.22
15.01 - 6 224,352.58 0.16
- -----------------------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Distribution of Remaining Terms to Maturity - Adjustable 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>
301 - 360 1,706 $ 141,978,664.20 100.00%
- ----------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
<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>
0 - 0 88 $ 8,992,837.00 6.33%
1 - 1 281 25,565,936.27 18.01
2 - 12 1,334 107,141,770.21 75.46
13 3 278,120.72 0.20
- --------------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
<CAPTION>
Distribution of Margins - Adjustable Rate Loans
Range of Number of Aggregate % of Aggregate
Margins Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- 5.000 59 $ 5,588,062.55 3.94%
5.001 - 6.000 316 31,240,806.49 22.00
6.001 - 7.000 617 53,238,633.57 37.50
7.001 - 8.000 490 37,983,216.33 26.75
8.001 - 9.000 146 10,011,962.28 7.05
9.001 - 10.000 57 3,066,819.03 2.16
10.001 - 11.000 18 700,915.94 0.49
11.001 - 12.000 3 148,248.01 0.10
- --------------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
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>
13.01 - 14.00 6 $ 794,343.91 0.56%
14.01 - 15.00 82 8,998,458.61 6.34
15.01 - 16.00 331 31,933,736.07 22.49
16.01 - 17.00 559 49,469,599.67 34.84
17.01 - 18.00 396 30,753,113.55 21.66
18.01 - 19.00 202 13,624,181.21 9.60
19.01 - 20.00 77 4,059,904.61 2.86
20.01 - 21.00 38 1,747,515.43 1.23
21.01 - 22.00 10 418,952.21 0.30
22.01 - 23.00 5 178,858.93 0.13
- --------------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
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>
March 1999 5 $ 241,820.53 0.17
April 1999 10 1,112,636.09 0.78
May 1999 11 895,869.17 0.63
June 1999 3 292,505.86 0.21
July 1999 2 175,471.18 0.12
August 1999 1 51,747.87 0.04
September 1999 2 224,642.05 0.16
January 2000 1 124,108.95 0.09
February 2000 2 154,011.77 0.11
March 2000 3 109,063.30 0.08
April 2000 2 72,920.44 0.05
May 2000 7 651,002.78 0.46
June 2000 9 791,982.59 0.56
July 2000 14 1,283,227.61 0.90
August 2000 43 3,929,340.75 2.77
September 2000 107 8,786,584.21 6.19
October 2000 216 16,349,173.59 11.52
November 2000 190 15,413,763.95 10.86
December 2000 205 18,671,768.71 13.15
January 2001 199 16,329,791.32 11.50
February 2001 228 20,905,594.97 14.72
March 2001 52 5,239,067.00 3.69
June 2001 1 45,844.32 0.03
July 2001 4 277,055.72 0.20
August 2001 10 620,210.66 0.44
September 2001 61 3,968,503.28 2.80
October 2001 82 5,690,795.51 4.01
November 2001 56 4,395,160.26 3.10
December 2001 55 4,271,386.32 3.01
January 2002 37 2,649,502.14 1.87
February 2002 53 4,660,341.30 3.28
March 2002 35 3,593,770.00 2.53
- -------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Types of Mortgaged Properties - Adjustable Rate Loans
<TABLE>
<CAPTION>
Number of Aggregate % of Aggregate
Property Types Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family Attached 23 $ 1,806,211.40 1.27%
Single Family Detached 1,432 118,969,280.35 83.79
Condominium 24 1,719,218.52 1.21
Two to Four-Family Residence 93 7,700,732.23 5.42
Planned Unit Development 39 4,446,641.77 3.13
Manufactured Housing 94 7,178,179.93 5.06
Mixed Use 1 158,400.00 0.11
- -----------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
<CAPTION>
Occupancy Status - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Occupancy Status Home Equity Loans Loan Balance Loan Balance
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Owner Occupied 1,602 $ 135,586,230.30 95.50%
Investor Owned 104 6,392,433.90 4.50
- -----------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
<CAPTION>
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
<S> <C> <C> <C>
301 - 360 1,706 $ 141,978,664.20 100.00
- -----------------------------------------------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
</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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Lien Position - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Lien Position Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
1 1,706 $ 141,978,664.20 100.00%
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
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
- --------------------------------------------------------------------------------
7.01 - 8.00 15 $ 2,119,107.02 1.49%
8.01 - 9.00 144 15,769,421.14 11.11
9.01 - 10.00 443 43,271,831.44 30.48
10.01 - 11.00 551 45,014,526.98 31.71
11.01 - 12.00 369 25,478,951.13 17.95
12.01 - 13.00 108 6,971,897.55 4.91
13.01 - 14.00 49 2,210,807.18 1.56
14.01 - 15.00 21 917,769.18 0.65
15.01 - 16.00 6 224,352.58 0.16
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
Days Delinquent - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Days Delinquent Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
30-59 DAYS 22 $ 1,583,831.28 1.12%
60-89 DAYS 6 557,104.77 0.39
CURRENT 1,678 139,837,728.15 98.49
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Credit Score - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Credit Score Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
A 753 $ 71,512,994.81 50.37%
B 444 36,546,059.48 25.74
C 409 28,937,789.09 20.38
D 100 4,981,820.82 3.51
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
Product Type - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Product Type Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
2/28 LIBOR 1,278 $ 108,811,401.94 76.64%
3/27 LIBOR 394 30,172,569.51 21.25
6 MO LIBOR no neg. am 34 2,994,692.75 2.11
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
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
- --------------------------------------------------------------------------------
0.00 - 5.00 2 $ 94,597.69 0.07%
5.01 - 10.00 13 678,089.86 0.48
10.01 - 15.00 27 1,295,164.35 0.91
15.01 - 20.00 66 4,097,674.61 2.89
20.01 - 25.00 100 6,345,932.09 4.47
25.01 - 30.00 175 12,358,418.08 8.70
30.01 - 35.00 235 18,919,714.95 13.33
35.01 - 40.00 290 23,749,758.65 16.73
40.01 - 45.00 327 29,471,021.11 20.76
45.01 - 50.00 405 37,635,403.25 26.51
50.01 - 55.00 65 7,254,861.14 5.11
55.01 - 60.00 1 78,028.42 0.05
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Loan Purpose - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Loan Purpose Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
CASH OUT REFI 438 $ 35,379,472.12 24.92%
DEBT CONSOLIDATION 662 52,587,398.31 37.04
HOME IMPROVEMENT 54 5,122,105.90 3.61
NEW CONSTRUCTION 10 1,069,541.27 0.75
PURCHASE 382 33,904,231.42 23.88
RATE/TERM REFI 39 3,568,598.08 2.51
OTHER 121 10,347,317.10 7.29
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
Initial Periodic Cap - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Initial Rate Cap Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
0 - 1.000 34 $ 2,994,692.75 2.11%
1.001 - 1.500 58 6,910,408.07 4.87
1.501 - 2.000 62 5,196,682.84 3.66
2.501 - 3.000 1,552 126,876,880.54 89.36
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
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 1999-2
- --------------------------------------------------------------------------------
Computational Materials
Group II Home Equity Loans
Subsequent Periodic Cap - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Periodic Rate Cap Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
0.000 - 1.000 1,648 $ 135,226,011.23 95.24%
1.001 - 1.500 58 6,752,652.97 4.76
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
Documentation Level - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Documentation Level Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
FULL DOC 1,544 $ 126,733,156.56 89.26%
LIMITED 92 8,828,901.36 6.22
NO DOC 70 6,416,606.28 4.52
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
Prepay Penalty - Adjustable Rate Loans
Number of Aggregate % of Aggregate
Prepay Penalty Home Equity Loans Loan Balance Loan Balance
- --------------------------------------------------------------------------------
Y 1,355 $ 112,038,405.28 78.91%
N 351 29,940,258.92 21.09
- --------------------------------------------------------------------------------
Total: 1,706 $ 141,978,664.20 100.00%
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
