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 20, 1997
The Money Store Commercial Mortgage Inc. (as Seller
under a Pooling and Servicing Agreement
dated as of February 28, 1997 providing for
the issuance of The Money Store Business
Loan Backed Certificates, Series 1997-1,
Class A, Class M and Class B)
The Money Store Commercial Mortgage Inc.
Exact name of registrant as specified in its charter)
New Jersey 333-20817 22-2378261
State or other (Commission File (IRS Employer ID
jurisdiction of Number) Number)
incorporation)
2840 Morris Avenue, Union, New Jersey 07083
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (908) 686-2000
N/A
(Former name or former address, if changed since last report)
Item 5. OTHER EVENTS
This Current Report on Form 8-K is being filed to file a copy of the
Computational Materials and ABS Term Sheets (as defined below) of Prudential
Securities Incorporated (the "Underwriter") in connection with the issuance by
The Money Store Inc., as representative of The Money Store Commercial Mortgage
Inc. of $ 90,000,000 principal amount of The Money Store Business Loan Backed
Certificates, Series 1997-1. The terms "Computational Materials"
and "ABS Term Sheets" shall have the meanings given in the No-Action Letter of
May 20, 1994 issued by the Securities and Exchange Commission to Kidder, Peabody
Acceptance Corporation I, Kidder, Peabody & Co. Incorporated and Kidder
Structured Asset Corporation, as supplemented in the No- Action Letters of May
27, 1994 and February 17, 1995 issued by the SEC to the Public Securities
Association.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(c) EXHIBITS
EXHIBIT NO.
99.1 Computational Materials and ABS Term Sheets of
Prudential Securities Incorporated.
<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.
THE MONEY STORE COMMERCIAL MORTGAGE INC.
By: /S/ MORTON DEAR
Name: MORTON DEAR
Title: Executive Vice President
Dated: March 24, 1997
<PAGE>
EXHIBIT INDEX
EXHIBIT PAGE
99.1 Computational Materials and ABS Term
Sheets of Prudential Securities Incorporated
EXHIBIT 99.1
**PRELIMINARY INFORMATION**
The Money Store Business Loan Backed Certificates, Series 1997-1
[$75,600,000] Class A Certificates
[$7,200,000] Class M Certificates
[$7,200,000] Class B Certificates
The analysis in this report is accurate to the best of PSI's knowledge and is
based on information provided by the Seller. PSI makes no representations as to
the accuracy of such information provided to it by the Seller. All assumptions
and information in this report reflect PSI's judgment as of this date and are
subject to change. All analyses are based on certain assumptions noted herein
and different assumptions could yield substantially different results. You are
cautioned that there is no universally accepted method for analyzing financial
instruments. You should review the assumptions; there may be differences between
these assumptions and your actual business practices. Further, PSI does not
guarantee any results and there is no guarantee as to the liquidity of the
instruments involved in this analysis. The decision to adopt any strategy
remains your responsibility. PSI (or any of its affiliates) or their officers,
directors, analysts or employees may have positions in securities, commodities
or derivative instruments thereon referred to here, and may, as principal or
agent, buy or sell such securities, commodities or derivative instruments. In
addition, PSI may make a market in the securities referred to herein. Neither
the information nor the assumptions reflected herein shall be construed to be,
or constitute, an offer to sell or buy or a solicitation of an offer to sell or
buy any securities, commodities or derivative instruments mentioned herein. No
sale of any securities, commodities or derivative instruments should be
consumated without the purchaser first having received a prospectus and, if
required, prospectus supplement. Finally, PSI has not addressed the legal,
accounting and tax implications of the analysis with respect to you, and PSI
strongly urges you to seek advice from your counsel, accountant and tax advisor.
<PAGE>
THE MONEY STORE BUSINESS LOAN BACKED CERTIFICATES, SERIES 1997-1
Title of Certificates: The Money Store Business Loan Backed Certificates,
Series 1997-1.
Description of Transaction: The securities will be
issued in three classes: Class A, Class M
and Class B. The Class A Certificates will
be rated "Aaa"/"AAA"/AAA", the Class M
Certificates "A2"/"A"/"A" and the Class B
Certificates "Baa2"/"BBB"/"BBB" by Moody's
Investors Service, Standard and Poor's and
Duff & Phelps, respectively.
The Trust Assets will consist primarily of
a pool of loans made to small business
concerns in conjunction with either the SBA
504 Loan Program (the "504 Loans") or the
SBA 7(a) Program (the "Companion Loans",
and together with the 504 Loans, the
"Business Loans"). Substantially all of the
Business Loans are secured primarily by
first liens on commercial property used by
the borrower or its affiliates in the
conduct of their business. The Business
Loans also may be secured by second liens
on personal real estate, personal
guarantees, liens on machinery and
equipment and other business assets. NONE
OF THE BUSINESS LOANS ARE INSURED OR
GUARANTEED BY THE UNITED STATES SMALL
BUSINESS ADMINISTRATION (THE "SBA") OR ANY
OTHER GOVERNMENTAL AGENCY.
The Money Store's Business loans generally
are originated as simple-interest,
variable-rate, prime-based loans. The
average rate on loans in this pool is
[2.061%] over the prime rate. Thus,
substantial ongoing excess spread is
available to credit enhance the
Certificates (approximately [3.61%]). The
transaction also features credit
enhancement in the form of [8.0%] Class M
Certificates and [8.0%] Class B
Certificates. The subordination of the
Class M and Class B enhances the Class A
Certificates. The subordination of the
Class B enhances the Class M Certificates.
The Class B Certificates will have the
benefit of a limited guaranty of The Money
Store Inc. to protect against losses that
would otherwise be absorbed by the Class B
Certificates.
The Certificates will be floating rate
securities based on the prime rate. The
Certificates will pay monthly and adjust
quarterly. Funds are passed through to the
Certificateholders subject to available
funds on the underlying collateral. All of
the loans are self-amortizing. The
Certificates receive principal on a pro
rata basis. The Class B Certificates will
bear all losses (if other forms of credit
enhancement are exhausted) until reduced to
zero. After the Class B Certificates are
reduced to zero, the Class M Certificates
will bear all losses (if other forms of
credit enhancement are exhausted) until
reduced to zero.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
Class A Class M Class B
------- ------- -------
<S> <C> <C> <C>
Approximate Size: [$75,600,000] [$7,200,000] [$7,200,000]
Price: 100-00 100-00 100-00
Initial Coupon: [ %] [ %] [ %]
Spread (bps)/Index: [- bp] [- bp] [- bp]
Pricing Speed: [ 6% CPR] [ 6% CPR] [ 6% CPR]
**Actual prepayments may vary**
Average Life to Maturity: [9.8] years [9.8] years [9.8] years
Average Life to Call: [9.5] years [9.5] years [9.5] years
Pricing Date: [3/21/97] [3/21/97] [3/21/97]
Settlement Date: [3/26/97] [3/26/97] [3/26/97]
Dated Date: [3/15/97] [3/15/97] [3/15/97]
Delay Days: 0 0 0
Interest: 30/360 30/360 30/360
Payment Terms: Monthly Monthly Monthly
Adjustment Frequency: Quarterly Quarterly Quarterly
Index: Prime Rate Prime Rate Prime Rate
First Payment Date: [04/15/97] [04/15/97] [04/15/97]
First Adjustment Date: [07/01/97] [07/01/97] [07/01/97]
Expected Maturity: [08/15/26] [08/15/26] [08/15/26]
Expected Maturity (to 10% call): [05/15/17] [05/15/17] [05/15/17]
Stated Maturity: [04/15/28] [04/15/28] [04/15/28]
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
</TABLE>
<PAGE>
THE MONEY STORE BUSINESS LOAN BACKED CERTIFICATES, SERIES 1997-1
Business Loans: The 504 Loans were originated in conjunction with
the SBA 504 Loan Program, which was established
to encourage lenders to provide fixed asset
financing for qualifying small businesses.
504 Loans may be used for plant acquisition,
construction, renovation, expansion, land and
site improvements, acquisition and installation
of machinery and equipment, as well as certain
closing costs and professional fees and the
interest on interim financing. The Seller
provides approximately 50% of the project costs
on a conventional loan agreement with borrowers
providing a minimum 10% equity contribution.
The SBA provides the remainder of the financing.
Although each 504 Loan must receive the prior
approval of the SBA, such loans are not
guaranteed by the SBA. 504 Loans comprise
approximately [77.07%] by principal balance of
the overall pool of Business Loans that back
the Certificates.
In connection with administering the
Section 7(a) Program, the SBA reduced the
maximum loan size to $500,000 for
applications submitted between January 1,
1995 and October 12, 1995. To assist
qualified borrowers in obtaining more
financing when needed, the Seller
introduced a Section 7(a) Companion Loan
Program pursuant to which the Seller
originated a Companion Loan to the related
borrower in situations in which the total
amount financed would otherwise have
exceeded the $500,000 limit. Although
Companion Loans are not guaranteed by the
SBA, they are secured by a lien on the
related primary collateral, which lien is
first in priority to the lien of the
related SBA 7(a) Loan. Companion Loans may
be utilized by the borrower for all
eligible SBA 7(a) Loan purposes. Companion
Loans comprise approximately [22.93%] by
principal balance of the overall pool of
Business Loans that back the Certificates.
Seller: The Money Store Commercial Mortgage Inc.
("TMSCMI"), a New Jersey corporation. TMSCMI
is a wholly-owned subsidiary of The Money Store
Inc., a New Jersey Corporation.
Servicer: TMSCMI.
Backup Servicer: Marine Midland Bank.
Trustee: Marine Midland Bank.
Subordination: Distributions of interest with respect to the
Class B Certificates will be subordinate to
distributions of interest with respect to the
Class A and Class M Certificates. Distributions
of interest with respect to the Class M
Certificates will be subordinate to distributions
of interest with respect to the Class A
Certificates.
Similarly, distributions of principal with
respect to the Class B Certificates will be
subordinate to distributions of principal
with respect to the Class A and Class M
Certificates. Distributions of principal
with respect to the Class M Certificates
will be subordinate to distributions of
principal with respect to the Class A
Certificates.
Credit Enhancement: Expected subordination levels (subject to
change):
Class A: AAA/AAA - [16.0%]
Class M: A/A - [8.0%]
Corporate Guaranty: The Class B Certificateholders will have the
benefit of a limited guaranty (the "Limited
Guaranty") of The Money Store Inc. to protect
against losses that would otherwise be absorbed
by the Class B Certificates. The Limited Guaranty
is an unsecured general obligation of The Money
Store Inc.
Cash Flow Priorities: 1) Servicing Fee
2) Class A Interest
3) Class M Interest
4) Class B Interest
5) Class A Principal and Class A Carry Forward
(any previous principal shortfall)
6) Class M Principal and Class M Carry Forward
(any previous principal shortfall)
7) Class B Principal
8) Trustee Fee
9) Unreimbursed Servicer Advances
10) Unreimbursed Limited Guaranty Payments
11) Released to TMSCMI or an affiliate thereof
Monthly Advances: The Servicer will advance to pay certificate
interest, to the extent not covered by excess
spread.
Servicing Advances: The Servicer will make servicing advances to the
extent it deems such advances recoverable.
Prepayment Interest The Servicer will pay compensating interest at
Shortfall: the weighted-average certificate rate for any
prepayment interest shortfalls, up to the amount
of its servicing compensation for that month.
Servicing Fee: 40 basis points per annum.
Optional Termination: The Servicer may purchase the trust assets at par
plus accrued interest thereon on any distribution
date on which the pool principal balance is less
than 10% of the original pool principal balance.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
THE MONEY STORE BUSINESS LOAN BACKED CERTIFICATES, SERIES 1997-1
Settlement Date: [March 26, 1997].
Prefunding Account: Approximately [$2,191,189.58] of the Trust Assets
will be prefunded.
Denominations: Minimum denominations of $1,000 and integral
multiples of $1,000 in excess thereof.
Form of Certificates: The Certificates will be available in book-entry
form only through DTC. The Certificates are also
expected to be book-entry eligible through
Euroclear and CEDEL.
Payment Date: The 15th day of each month or, if such day is not
a business day, the next succeeding business day,
beginning in April 1997.
Interest Accrual Period: Interest will accrue on the
certificates from the 15th day of the
preceeding month until the 14th day of the
current month except in the initial accrual
period in which interest will accrue from
March 15, 1997.
Interest Rate: Class A Certificates: Prime Rate minus [ %].
Class M Certificates: Prime Rate minus [ %].
Class B Certificates: Prime Rate minus [ %].
The Interest Rate is reset quarterly as described
below.
Record Date: The last day of the month preceding any
distribution date.
Tax Status: Grantor Trust.
ERISA Considerations: The Certificates will not be ERISA eligible.
SMMEA: The Certificates will not be SMMEA eligible.
Ratings: Class A: "Aaa"/"AAA"/"AAA"; Class M: "A2"/"A"/"A";
Class B: "Baa2"/"BBB"/"BBB" by Moody's Investors
Service, Standard & Poor's Corp. and Duff & Phelps
Credit Rating Co., respectively.
The ratings of the Class B Certificates are based,
in part, on an assessment of The Money Store Inc.'s
ability to make payment under the Limited Guaranty.
Any reductions in the ratings assigned to the
unsecured long-term debt obligations of The Money
Store Inc. by Moody's Investors Service,
Standard & Poor's or Duff & Phelps may result in a
similar reduction of the rating of the Class B
Certificates.
Prospectus: The Certificates are being offered pursuant to a
Prospectus which includes a Prospectus Supplement
(together, the "Prospectus"). Complete information
with respect to the Certificates and the Collateral
is contained in the Prospectus. The information
contained herein is qualified in its entirety by the
information appearing in the Prospectus. To the
extent that the information contained herein is
inconsistent with the Prospectus, the Prospectus shall
govern in all respects. Sales of the Certificates
may not be consumated unless the purchaser has
received the Prospectus.
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
THE MONEY STORE BUSINESS LOAN BACKED CERTIFICATES, SERIES 1997-1
Description of Transaction:
The loans pay a floating-rate, prime-based coupon that adjusts quarterly on the
first business day of each calendar quarter. On the loans, interest accrues from
the 1st to the 30th of each month and is due, along with the scheduled principal
payment, on the first day of the following month. The Certificates pay a
floating-rate, prime-based coupon that is adjusted on the first business day of
each January, April, July, and October, beginning July 1997. Interest on the
Certificates is paid on the 15th day of each month and is accrued from the 15th
day of the previous month to the 14th day of the current month. For example, the
January 2 prime rate will be used for the Certificate interest accrual periods
commencing January 15, February 15 and March 15. Interest collected on the loans
in one month will pay the interest due on the Certificates in the following
month. Please see the diagram below for a description of the interest accrual
and collection on the loans and the interest accrual and payment on the
Certificates.
ILLUSTRATION OF NOTE ACCRUAL PERIOD VS. CORRESPONDING CERTIFICATE ACCRUAL PERIOD
JAN FEB MAR APR MAY
1--------15--------1--------15--------1--------15--------1--------15--------1
* *
Interest Accrual Interest Collection
SBA Note: ------------------ -----------------
Period Period
Corresponding
Interest Accrual
Certificates: -----------------**
Period
* The Interest Rate adjusts every Jan.1, Apr.1, July 1, Oct.1
** Certificate payment date
Please note that in February, May, August and November, there may be a mismatch
in the prime rate used to accrue interest on the collateral and the prime rate
used to accrue interest on the Certificates. For example, with respect to the
February 15th remittance date, the interest rate due to the investors is based
on the prime rate as of January 2nd; however, the interest collected from the
underlying loans for such remittance date accrued from December 1st to December
30th with a coupon based on the prime rate as of October 1st. Should the prime
rate used to accrue interest on the loans be higher than the prime rate used to
accrue interest on the Certificates, excess interest will be collected and will
be passed through on a pro-rata basis to the Certificateholders (and vice versa
with lower interest should the accrual rate on the loans be lower than the
accrual rate on the Certificates).
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
CURRENT BALANCE: $75,600,000.00 DATED DATE: 03/15/97
CURRENT COUPON: TBD monbl71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 3
ORIGINAL BALANCE: $75,600,000.00 BOND A ADJUSTED MARGIN TABLE
YIELD TABLE DATE: 03/26/97
ASSUMED CONSTANT PRIME RT 8.2500
***** TO CALL *****
<TABLE>
<CAPTION>
PRICING SPEED
6.0% 0.00% 3.00% 6.00% 9.00% 12.00% 14.00%
PRICE CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 -206.156 -207.435 -206.834 -206.156 -205.396 -204.570 -203.985
99-24+ -206.397 -207.596 -207.033 -206.397 -205.685 -204.911 -204.363
99-25 -206.638 -207.757 -207.232 -206.638 -205.974 -205.252 -204.740
99-25+ -206.879 -207.918 -207.430 -206.879 -206.263 -205.593 -205.118
99-26 -207.121 -208.078 -207.629 -207.121 -206.552 -205.933 -205.495
99-26+ -207.362 -208.239 -207.827 -207.362 -206.840 -206.274 -205.872
99-27 -207.603 -208.400 -208.026 -207.603 -207.129 -206.614 -206.249
99-27+ -207.844 -208.561 -208.224 -207.844 -207.418 -206.954 -206.626
99-28 -208.085 -208.722 -208.423 -208.085 -207.706 -207.295 -207.003
99-28+ -208.325 -208.882 -208.621 -208.325 -207.995 -207.635 -207.380
99-29 -208.566 -209.043 -208.819 -208.566 -208.283 -207.975 -207.757
99-29+ -208.807 -209.204 -209.017 -208.807 -208.571 -208.315 -208.133
99-30 -209.047 -209.364 -209.216 -209.047 -208.859 -208.655 -208.510
99-30+ -209.288 -209.525 -209.414 -209.288 -209.147 -208.994 -208.886
99-31 -209.529 -209.685 -209.612 -209.529 -209.435 -209.334 -209.262
99-31+ -209.769 -209.846 -209.810 -209.769 -209.723 -209.674 -209.639
100-00 -210.009 -210.006 -210.008 -210.009 -210.011 -210.013 -210.015
100-00+ -210.250 -210.167 -210.206 -210.250 -210.299 -210.353 -210.391
100-01 -210.490 -210.327 -210.404 -210.490 -210.587 -210.692 -210.766
100-01+ -210.730 -210.487 -210.601 -210.730 -210.874 -211.031 -211.142
100-02 -210.970 -210.648 -210.799 -210.970 -211.162 -211.370 -211.518
100-02+ -211.210 -210.808 -210.997 -211.210 -211.449 -211.709 -211.893
100-03 -211.450 -210.968 -211.195 -211.450 -211.737 -212.048 -212.269
100-03+ -211.690 -211.128 -211.392 -211.690 -212.024 -212.387 -212.644
100-04 -211.930 -211.288 -211.590 -211.930 -212.311 -212.726 -213.019
100-04+ -212.170 -211.449 -211.787 -212.170 -212.598 -213.064 -213.395
100-05 -212.410 -211.609 -211.985 -212.410 -212.886 -213.403 -213.770
100-05+ -212.649 -211.769 -212.182 -212.649 -213.173 -213.741 -214.145
100-06 -212.889 -211.929 -212.380 -212.889 -213.459 -214.080 -214.519
100-06+ -213.128 -212.089 -212.577 -213.128 -213.746 -214.418 -214.894
100-07 -213.368 -212.248 -212.774 -213.368 -214.033 -214.756 -215.269
100-07+ -213.607 -212.408 -212.971 -213.607 -214.320 -215.094 -215.643
First Payment 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Average Life 9.512 16.198 12.305 9.512 7.486 6.042 5.305
Last Payment 20.136 23.803 22.469 20.136 17.136 14.553 13.053
Mod.Dur. @ 100-00 6.325 9.476 7.680 6.325 5.282 4.478 4.043
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
CURRENT BALANCE: $7,200,000.00 DATED DATE: 03/15/97
CURRENT COUPON: TBD monbl71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 3
ORIGINAL BALANCE: $7,200,000.00 BOND M ADJUSTED MARGIN TABLE
YIELD TABLE DATE: 03/26/97
ASSUMED CONSTANT PRIME RT 8.2500
***** TO CALL *****
<TABLE>
<CAPTION>
PRICING SPEED
6.0% 0.00% 3.00% 6.00% 9.00% 12.00% 14.00%
PRICE CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 -161.062 -162.351 -161.744 -161.062 -160.300 -159.473 -158.888
99-24+ -161.309 -162.518 -161.949 -161.309 -160.595 -159.820 -159.272
99-25 -161.556 -162.684 -162.153 -161.556 -160.890 -160.167 -159.656
99-25+ -161.803 -162.850 -162.358 -161.803 -161.185 -160.514 -160.039
99-26 -162.051 -163.016 -162.562 -162.051 -161.480 -160.861 -160.423
99-26+ -162.298 -163.182 -162.766 -162.298 -161.775 -161.208 -160.806
99-27 -162.545 -163.349 -162.970 -162.545 -162.070 -161.554 -161.190
99-27+ -162.792 -163.515 -163.174 -162.792 -162.364 -161.901 -161.573
99-28 -163.038 -163.681 -163.378 -163.038 -162.659 -162.247 -161.956
99-28+ -163.285 -163.847 -163.582 -163.285 -162.954 -162.594 -162.339
99-29 -163.532 -164.013 -163.786 -163.532 -163.248 -162.940 -162.722
99-29+ -163.779 -164.178 -163.990 -163.779 -163.542 -163.286 -163.105
99-30 -164.025 -164.344 -164.194 -164.025 -163.837 -163.632 -163.487
99-30+ -164.272 -164.510 -164.398 -164.272 -164.131 -163.978 -163.870
99-31 -164.518 -164.676 -164.602 -164.518 -164.425 -164.324 -164.252
99-31+ -164.765 -164.842 -164.805 -164.765 -164.719 -164.670 -164.635
100-00 -165.011 -165.007 -165.009 -165.011 -165.013 -165.015 -165.017
100-00+ -165.257 -165.173 -165.213 -165.257 -165.307 -165.361 -165.399
100-01 -165.504 -165.339 -165.416 -165.504 -165.601 -165.707 -165.781
100-01+ -165.750 -165.504 -165.620 -165.750 -165.895 -166.052 -166.163
100-02 -165.996 -165.670 -165.823 -165.996 -166.188 -166.397 -166.545
100-02+ -166.242 -165.835 -166.027 -166.242 -166.482 -166.742 -166.927
100-03 -166.488 -166.001 -166.230 -166.488 -166.775 -167.088 -167.309
100-03+ -166.734 -166.166 -166.433 -166.734 -167.069 -167.433 -167.690
100-04 -166.979 -166.332 -166.637 -166.979 -167.362 -167.777 -168.072
100-04+ -167.225 -166.497 -166.840 -167.225 -167.655 -168.122 -168.453
100-05 -167.471 -166.662 -167.043 -167.471 -167.949 -168.467 -168.834
100-05+ -167.716 -166.828 -167.246 -167.716 -168.242 -168.812 -169.215
100-06 -167.962 -166.993 -167.449 -167.962 -168.535 -169.156 -169.596
100-06+ -168.208 -167.158 -167.652 -168.208 -168.828 -169.501 -169.977
100-07 -168.453 -167.323 -167.855 -168.453 -169.120 -169.845 -170.358
100-07+ -168.698 -167.488 -168.058 -168.698 -169.413 -170.189 -170.739
First Payment 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Average Life 9.512 16.198 12.305 9.512 7.486 6.042 5.305
Last Payment 20.136 23.803 22.469 20.136 17.136 14.553 13.053
Mod.Dur. @ 100-00 6.159 9.156 7.450 6.159 5.161 4.389 3.969
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
CURRENT BALANCE: $7,200,000.00 DATED DATE: 03/15/97
CURRENT COUPON: TBD monbl71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 3
ORIGINAL BALANCE: $7,200,000.00 BOND B ADJUSTED MARGIN TABLE
YIELD TABLE DATE: 03/26/97
ASSUMED CONSTANT PRIME RT 8.2500
***** TO CALL *****
<TABLE>
<CAPTION>
PRICING SPEED
6.0% 0.00% 3.00% 6.00% 9.00% 12.00% 14.00%
PRICE CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 -136.009 -137.305 -136.694 -136.009 -135.246 -134.419 -133.834
99-24+ -136.260 -137.474 -136.902 -136.260 -135.545 -134.770 -134.221
99-25 -136.510 -137.643 -137.109 -136.510 -135.843 -135.120 -134.609
99-25+ -136.761 -137.812 -137.317 -136.761 -136.142 -135.471 -134.996
99-26 -137.012 -137.981 -137.524 -137.012 -136.440 -135.821 -135.383
99-26+ -137.262 -138.150 -137.732 -137.262 -136.739 -136.171 -135.770
99-27 -137.512 -138.320 -137.939 -137.512 -137.037 -136.521 -136.156
99-27+ -137.763 -138.489 -138.146 -137.763 -137.335 -136.871 -136.543
99-28 -138.013 -138.658 -138.354 -138.013 -137.633 -137.221 -136.930
99-28+ -138.263 -138.827 -138.561 -138.263 -137.931 -137.571 -137.316
99-29 -138.513 -138.995 -138.768 -138.513 -138.229 -137.921 -137.703
99-29+ -138.763 -139.164 -138.975 -138.763 -138.527 -138.270 -138.089
99-30 -139.013 -139.333 -139.182 -139.013 -138.824 -138.620 -138.475
99-30+ -139.263 -139.502 -139.389 -139.263 -139.122 -138.969 -138.861
99-31 -139.513 -139.671 -139.596 -139.513 -139.419 -139.318 -139.247
99-31+ -139.762 -139.839 -139.803 -139.762 -139.717 -139.668 -139.633
100-00 -140.012 -140.008 -140.010 -140.012 -140.014 -140.017 -140.019
100-00+ -140.262 -140.177 -140.217 -140.262 -140.312 -140.366 -140.404
100-01 -140.511 -140.345 -140.424 -140.511 -140.609 -140.715 -140.790
100-01+ -140.761 -140.514 -140.630 -140.761 -140.906 -141.064 -141.175
100-02 -141.010 -140.682 -140.837 -141.010 -141.203 -141.412 -141.560
100-02+ -141.259 -140.851 -141.043 -141.259 -141.500 -141.761 -141.946
100-03 -141.509 -141.019 -141.250 -141.509 -141.797 -142.110 -142.331
100-03+ -141.758 -141.188 -141.456 -141.758 -142.094 -142.458 -142.716
100-04 -142.007 -141.356 -141.663 -142.007 -142.391 -142.806 -143.101
100-04+ -142.256 -141.524 -141.869 -142.256 -142.687 -143.155 -143.485
100-05 -142.505 -141.693 -142.076 -142.505 -142.984 -143.503 -143.870
100-05+ -142.754 -141.861 -142.282 -142.754 -143.280 -143.851 -144.255
100-06 -143.003 -142.029 -142.488 -143.003 -143.577 -144.199 -144.639
100-06+ -143.252 -142.197 -142.694 -143.252 -143.873 -144.547 -145.023
100-07 -143.501 -142.365 -142.900 -143.501 -144.169 -144.895 -145.408
100-07+ -143.749 -142.533 -143.106 -143.749 -144.465 -145.242 -145.792
First Payment 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Average Life 9.512 16.198 12.305 9.512 7.486 6.042 5.305
Last Payment 20.136 23.803 22.469 20.136 17.136 14.553 13.053
Mod.Dur. @ 100-00 6.070 8.986 7.328 6.070 5.097 4.341 3.929
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
CURRENT BALANCE: $75,600,000.00 DATED DATE: 03/15/97
CURRENT COUPON: TBD monbl71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 3
ORIGINAL BALANCE: $75,600,000.00 BOND A ADJUSTED MARGIN TABLE
YIELD TABLE DATE: 03/26/97
ASSUMED CONSTANT PRIME RT 8.2500
***** TO MATURITY *****
<TABLE>
<CAPTION>
PRICING SPEED
6.0% 0.00% 3.00% 6.00% 9.00% 12.00% 14.00%
PRICE CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 -206.197 -207.451 -206.855 -206.197 -205.484 -204.720 -204.184
99-24+ -206.436 -207.611 -207.052 -206.436 -205.767 -205.051 -204.549
99-25 -206.675 -207.771 -207.250 -206.675 -206.051 -205.383 -204.914
99-25+ -206.913 -207.930 -207.447 -206.913 -206.334 -205.714 -205.279
99-26 -207.152 -208.090 -207.644 -207.152 -206.618 -206.045 -205.644
99-26+ -207.390 -208.250 -207.841 -207.390 -206.901 -206.376 -206.009
99-27 -207.629 -208.410 -208.039 -207.629 -207.184 -206.708 -206.374
99-27+ -207.867 -208.570 -208.236 -207.867 -207.467 -207.039 -206.738
99-28 -208.105 -208.730 -208.433 -208.105 -207.750 -207.369 -207.103
99-28+ -208.344 -208.889 -208.630 -208.344 -208.033 -207.700 -207.467
99-29 -208.582 -209.049 -208.827 -208.582 -208.316 -208.031 -207.831
99-29+ -208.820 -209.209 -209.024 -208.820 -208.598 -208.361 -208.195
99-30 -209.058 -209.368 -209.221 -209.058 -208.881 -208.692 -208.559
99-30+ -209.296 -209.528 -209.417 -209.296 -209.164 -209.022 -208.923
99-31 -209.534 -209.687 -209.614 -209.534 -209.446 -209.353 -209.287
99-31+ -209.771 -209.847 -209.811 -209.771 -209.729 -209.683 -209.651
100-00 -210.009 -210.006 -210.008 -210.009 -210.011 -210.013 -210.014
100-00+ -210.247 -210.166 -210.204 -210.247 -210.293 -210.343 -210.378
100-01 -210.485 -210.325 -210.401 -210.485 -210.575 -210.673 -210.741
100-01+ -210.722 -210.484 -210.597 -210.722 -210.858 -211.003 -211.104
100-02 -210.960 -210.644 -210.794 -210.960 -211.140 -211.332 -211.467
100-02+ -211.197 -210.803 -210.990 -211.197 -211.422 -211.662 -211.830
100-03 -211.435 -210.962 -211.187 -211.435 -211.703 -211.991 -212.193
100-03+ -211.672 -211.121 -211.383 -211.672 -211.985 -212.321 -212.556
100-04 -211.909 -211.280 -211.579 -211.909 -212.267 -212.650 -212.919
100-04+ -212.146 -211.440 -211.776 -212.146 -212.549 -212.979 -213.281
100-05 -212.383 -211.599 -211.972 -212.383 -212.830 -213.309 -213.644
100-05+ -212.620 -211.758 -212.168 -212.620 -213.112 -213.638 -214.006
100-06 -212.857 -211.917 -212.364 -212.857 -213.393 -213.967 -214.369
100-06+ -213.094 -212.076 -212.560 -213.094 -213.674 -214.295 -214.731
100-07 -213.331 -212.235 -212.756 -213.331 -213.956 -214.624 -215.093
100-07+ -213.568 -212.393 -212.952 -213.568 -214.237 -214.953 -215.455
First Payment 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Average Life 9.794 16.493 12.539 9.794 7.844 6.425 5.689
Last Payment 29.386 29.386 29.386 29.386 29.386 29.386 29.386
Mod.Dur. @ 100-00 6.394 9.535 7.730 6.394 5.385 4.606 4.182
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
CURRENT BALANCE: $7,200,000.00 DATED DATE: 03/15/97
CURRENT COUPON: TBD monbl71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 3
ORIGINAL BALANCE: $7,200,000.00 BOND M ADJUSTED MARGIN TABLE
YIELD TABLE DATE: 03/26/97
ASSUMED CONSTANT PRIME RT 8.2500
***** TO MATURITY *****
<TABLE>
<CAPTION>
PRICING SPEED
6.0% 0.00% 3.00% 6.00% 9.00% 12.00% 14.00%
PRICE CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 -161.101 -162.366 -161.764 -161.101 -160.384 -159.617 -159.080
99-24+ -161.346 -162.532 -161.967 -161.346 -160.674 -159.955 -159.452
99-25 -161.591 -162.697 -162.170 -161.591 -160.964 -160.293 -159.824
99-25+ -161.836 -162.862 -162.373 -161.836 -161.253 -160.631 -160.195
99-26 -162.080 -163.028 -162.576 -162.080 -161.543 -160.969 -160.567
99-26+ -162.325 -163.193 -162.779 -162.325 -161.833 -161.307 -160.938
99-27 -162.569 -163.358 -162.982 -162.569 -162.122 -161.644 -161.309
99-27+ -162.814 -163.523 -163.185 -162.814 -162.412 -161.982 -161.681
99-28 -163.058 -163.688 -163.388 -163.058 -162.701 -162.319 -162.052
99-28+ -163.303 -163.853 -163.591 -163.303 -162.990 -162.656 -162.423
99-29 -163.547 -164.018 -163.794 -163.547 -163.279 -162.994 -162.794
99-29+ -163.791 -164.183 -163.996 -163.791 -163.569 -163.331 -163.164
99-30 -164.035 -164.348 -164.199 -164.035 -163.858 -163.668 -163.535
99-30+ -164.279 -164.513 -164.402 -164.279 -164.147 -164.005 -163.906
99-31 -164.523 -164.678 -164.604 -164.523 -164.435 -164.342 -164.276
99-31+ -164.767 -164.843 -164.807 -164.767 -164.724 -164.678 -164.646
100-00 -165.011 -165.007 -165.009 -165.011 -165.013 -165.015 -165.017
100-00+ -165.255 -165.172 -165.211 -165.255 -165.302 -165.352 -165.387
100-01 -165.498 -165.337 -165.414 -165.498 -165.590 -165.688 -165.757
100-01+ -165.742 -165.501 -165.616 -165.742 -165.879 -166.024 -166.127
100-02 -165.986 -165.666 -165.818 -165.986 -166.167 -166.361 -166.496
100-02+ -166.229 -165.831 -166.020 -166.229 -166.455 -166.697 -166.866
100-03 -166.473 -165.995 -166.223 -166.473 -166.743 -167.033 -167.236
100-03+ -166.716 -166.160 -166.425 -166.716 -167.032 -167.369 -167.605
100-04 -166.959 -166.324 -166.627 -166.959 -167.320 -167.705 -167.974
100-04+ -167.203 -166.489 -166.829 -167.203 -167.608 -168.041 -168.344
100-05 -167.446 -166.653 -167.031 -167.446 -167.895 -168.376 -168.713
100-05+ -167.689 -166.817 -167.232 -167.689 -168.183 -168.712 -169.082
100-06 -167.932 -166.982 -167.434 -167.932 -168.471 -169.047 -169.451
100-06+ -168.175 -167.146 -167.636 -168.175 -168.759 -169.383 -169.819
100-07 -168.418 -167.310 -167.838 -168.418 -169.046 -169.718 -170.188
100-07+ -168.661 -167.474 -168.039 -168.661 -169.334 -170.053 -170.557
First Payment 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Average Life 9.794 16.493 12.539 9.794 7.844 6.425 5.689
Last Payment 29.386 29.386 29.386 29.386 29.386 29.386 29.386
Mod.Dur. @ 100-00 6.222 9.209 7.496 6.222 5.256 4.507 4.099
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
CURRENT BALANCE: $7,200,000.00 DATED DATE: 03/15/97
CURRENT COUPON: TBD monbl71 FIRST PAYMENT: 04/15/97
FACTOR: 1.0000000000 TOTAL CLASSES: 3
ORIGINAL BALANCE: $7,200,000.00 BOND B ADJUSTED MARGIN TABLE
YIELD TABLE DATE: 03/26/97
ASSUMED CONSTANT PRIME RT 8.2500
***** TO MATURITY *****
<TABLE>
<CAPTION>
PRICING SPEED
6.0% 0.00% 3.00% 6.00% 9.00% 12.00% 14.00%
PRICE CPR CPR CPR CPR CPR CPR CPR
<S> <C> <C> <C> <C> <C> <C> <C>
99-24 -136.048 -137.319 -136.713 -136.048 -135.328 -134.560 -134.022
99-24+ -136.296 -137.488 -136.920 -136.296 -135.622 -134.901 -134.398
99-25 -136.544 -137.656 -137.126 -136.544 -135.915 -135.243 -134.773
99-25+ -136.792 -137.824 -137.332 -136.792 -136.208 -135.585 -135.148
99-26 -137.040 -137.992 -137.539 -137.040 -136.502 -135.926 -135.524
99-26+ -137.288 -138.161 -137.745 -137.288 -136.795 -136.268 -135.899
99-27 -137.536 -138.329 -137.951 -137.536 -137.088 -136.609 -136.274
99-27+ -137.784 -138.497 -138.157 -137.784 -137.381 -136.950 -136.649
99-28 -138.032 -138.665 -138.363 -138.032 -137.674 -137.291 -137.024
99-28+ -138.280 -138.833 -138.569 -138.280 -137.967 -137.632 -137.398
99-29 -138.527 -139.001 -138.775 -138.527 -138.259 -137.973 -137.773
99-29+ -138.775 -139.169 -138.981 -138.775 -138.552 -138.314 -138.147
99-30 -139.022 -139.337 -139.187 -139.022 -138.845 -138.655 -138.522
99-30+ -139.270 -139.505 -139.393 -139.270 -139.137 -138.995 -138.896
99-31 -139.517 -139.673 -139.599 -139.517 -139.430 -139.336 -139.270
99-31+ -139.765 -139.840 -139.804 -139.765 -139.722 -139.676 -139.644
100-00 -140.012 -140.008 -140.010 -140.012 -140.014 -140.016 -140.018
100-00+ -140.259 -140.176 -140.216 -140.259 -140.306 -140.357 -140.392
100-01 -140.506 -140.343 -140.421 -140.506 -140.598 -140.697 -140.766
100-01+ -140.753 -140.511 -140.627 -140.753 -140.890 -141.037 -141.139
100-02 -141.000 -140.679 -140.832 -141.000 -141.182 -141.377 -141.513
100-02+ -141.247 -140.846 -141.037 -141.247 -141.474 -141.716 -141.886
100-03 -141.494 -141.014 -141.243 -141.494 -141.766 -142.056 -142.259
100-03+ -141.741 -141.181 -141.448 -141.741 -142.058 -142.396 -142.632
100-04 -141.988 -141.349 -141.653 -141.988 -142.349 -142.735 -143.005
100-04+ -142.234 -141.516 -141.858 -142.234 -142.641 -143.075 -143.378
100-05 -142.481 -141.683 -142.063 -142.481 -142.932 -143.414 -143.751
100-05+ -142.727 -141.851 -142.269 -142.727 -143.223 -143.753 -144.124
100-06 -142.974 -142.018 -142.474 -142.974 -143.515 -144.092 -144.496
100-06+ -143.220 -142.185 -142.679 -143.220 -143.806 -144.431 -144.869
100-07 -143.467 -142.352 -142.883 -143.467 -144.097 -144.770 -145.241
100-07+ -143.713 -142.520 -143.088 -143.713 -144.388 -145.109 -145.614
First Payment 0.053 0.053 0.053 0.053 0.053 0.053 0.053
Average Life 9.794 16.493 12.539 9.794 7.844 6.425 5.689
Last Payment 29.386 29.386 29.386 29.386 29.386 29.386 29.386
Mod.Dur. @ 100-00 6.130 9.035 7.370 6.130 5.186 4.454 4.053
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
- ------------------------------------------------------------------------------
- MONEY STORE 1997-1
- Business Loans
- Cutoff Date - 2/28/97
- $87,808,810.42
- ------------------------------------------------------------------------------
Index: Prime Rate
Number of Mortgage Loans: 148
Aggregate Unpaid Principal Balance: $87,808,810.42
Average Unpaid Principal Balance: $593,302.77
Maximum Unpaid Principal Balance: $2,224,537.75
Minimum Unpaid Principal Balance: $28,847.97
Aggregate Original Principal Balance: $88,936,975.00
Average Original Principal Balance: $600,925.51
Maximum Original Principal Balance: $2,240,000.00
Minimum Original Principal Balance: $30,000.00
Weighted Average Coupon: 10.312%
Gross Coupon Range: 9.750% - 11.250%
Weighted Average Months to Maturity: 287.039
Maturity Range: 98 - 359
Weighted Average Age in Months: 12.629
Age Range: 0 - 33
Weighted Average Original Term: 299.668
Original Term Range: 120 - 360
Weighted Average Number of Months Until
Next Interest Roll Date: 1.000
Range: 1 - 1
Weighted Average Gross Margin: 2.061%
Gross Margin Range: 1.500% - 2.750%
Weighted Average Disc. Orig. LTV: 46.420%
Disc. Orig. LTV Range: 4.620% - 90.260%
Weighted Average Undisc. Orig. LTV: 32.166%
Undisc. Orig. LTV Range: 2.180% - 74.440%
Weighted Average Debt Service Coverage Ratio: 1.503
Debt Service Coverage Ratio Range: 0.000 - 6.590
Weighted Average Life Floor: 4.721%
Life Floor Range: 1.500% - 10.000%
Weighted Average Life Cap (Gross): 15.531%
* Excluding 45 capless loans.
Life Cap Range: 13.000% - 16.750%
- ------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
HELP
GROSS INTEREST RATE RANGE
<TABLE>
<CAPTION>
Percentage of
Gross Aggregate Cut-Off Date
Interest Rate Number of Current Current Percentage of
Range Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
9.50% * Gross Coupon *= 10.00% 28 18,244,553.38 20.78 18.92
10.00% * Gross Coupon *= 10.50% 95 56,012,290.66 63.79 64.19
10.50% * Gross Coupon *= 11.00% 24 13,430,328.07 15.29 16.22
11.00% * Gross Coupon *= 11.50% 1 121,638.31 0.14 .68
- -----------------------------------------------------------------------------------------------
Total.......... 148 $ 87,808,810.42 100.00% 100.00%
===============================================================================================
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Current Current Percentage of
Original Term Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
108 * Orig. Term *= 120 2 354,578.88 0.40% 1.35
168 * Orig. Term *= 180 1 563,428.49 0.64% .68
192 * Orig. Term *= 204 1 192,799.39 0.22% .68
204 * Orig. Term *= 216 1 356,175.50 0.41% .68
216 * Orig. Term *= 228 2 405,921.42 0.46% 1.35
228 * Orig. Term *= 240 24 14,628,370.79 16.66% 16.22
240 * Orig. Term *= 252 1 385,528.12 0.44% .68
252 * Orig. Term *= 264 3 597,684.04 0.68% 2.03
264 * Orig. Term *= 276 1 91,987.00 0.10% .68
288 * Orig. Term *= 300 87 51,817,639.68 59.01% 58.78
324 * Orig. Term *= 336 1 207,675.00 0.24% .68
348 * Orig. Term *= 360 24 18,207,022.11 20.73% 16.22
- -----------------------------------------------------------------------------------------------
Total............ 148 87,808,810.42 100.00% 100.00%
===============================================================================================
*=Less Than
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Current Current Percentage of
Age Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
Age = 0 3 1,841,675.00 2.10% 2.03
1 * Age *= 12 57 40,083,384.71 45.65% 38.51
12 * Age *= 24 77 40,445,460.02 46.06% 52.03
24 * Age *= 36 11 5,438,290.69 6.19% 7.43
- -----------------------------------------------------------------------------------------------
Total............ 148 87,808,810.42 100.00% 100.00%
===============================================================================================
*=Less than
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Current Current Percentage of
Remaining Term Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
96 * Rem Term *= 108 1 211,342.49 0.24% .68
108 * Rem Term *= 120 1 143,236.39 0.16% .68
156 * Rem Term *= 168 1 563,428.49 0.64% .68
180 * Rem Term *= 192 1 192,799.39 0.22% .68
204 * Rem Term *= 216 11 5,399,456.04 6.15% 7.43
216 * Rem Term *= 228 10 4,154,956.78 4.73% 6.76
228 * Rem Term *= 240 7 6,221,583.01 7.09% 4.73
240 * Rem Term *= 252 2 518,961.51 0.59% 1.35
252 * Rem Term *= 264 1 78,722.53 0.09% .68
264 * Rem Term *= 276 4 1,254,846.47 1.43% 2.70
276 * Rem Term *= 288 60 33,336,164.20 37.96% 40.54
288 * Rem Term *= 300 24 17,318,616.01 19.72% 16.22
324 * Rem Term *= 336 1 207,675.00 0.24% .68
336 * Rem Term *= 348 6 4,126,329.27 4.70% 4.05
348 * Rem Term *= 360 18 14,080,692.84 16.04% 12.16
- -----------------------------------------------------------------------------------------------
Total............ 148 87,808,810.42 100.00% 100.00%
===============================================================================================
*=Less Than
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
Percentage of
Number of Aggregate Cut-Off Date
Year of Mortgage Current Current Percentage of
Origination Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
1994 9 5,225,037.82 5.95 6.08
1995 78 40,419,416.62 46.03 52.70
1996 57 39,208,049.55 44.65 38.51
1997 4 2,956,306.43 3.37 2.70
- ------------------------------------------------------------------------------------------------------
Total................. 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
</TABLE>
DISCOUNTED LOAN TO VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Discounted Aggregate Cut-Off Date
Loan-To-Value Number of Current Current Percentage of
Ratio Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
LTV = 0.000 1 143,236.39 0.16 .68
0.000 * LTV *= 5.000 1 28,847.97 0.03 .68
5.000 * LTV *= 10.000 3 217,625.86 0.25 2.03
10.000 * LTV *= 15.000 5 546,206.99 0.62 3.38
15.000 * LTV *= 20.000 9 2,225,982.53 2.54 6.08
20.000 * LTV *= 25.000 7 1,647,016.03 1.88 4.73
25.000 * LTV *= 30.000 10 3,800,386.29 4.33 6.76
30.000 * LTV *= 35.000 8 5,777,983.75 6.58 5.41
35.000 * LTV *= 40.000 17 8,541,781.57 9.73 11.49
40.000 * LTV *= 45.000 14 9,509,736.91 10.83 9.46
45.000 * LTV *= 50.000 35 21,267,355.66 24.22 23.65
50.000 * LTV *= 55.000 27 21,631,640.59 24.63 18.24
55.000 * LTV *= 60.000 6 7,195,456.86 8.19 4.05
60.000 * LTV *= 65.000 3 3,105,624.71 3.54 2.03
75.000 * LTV *= 80.000 1 1,408,506.16 1.60 .68
90.000 * LTV *= 95.000 1 761,422.15 0.87 .68
- ------------------------------------------------------------------------------------------------------
Total.................... 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
*= Less Than
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
UNDISCOUNTED LOAN TO VALUE RATIOS
<TABLE>
<CAPTION>
Percentage of
Undiscounted Aggregate Cut-Off Date
Loan-To-Value Number of Current Current Percentage of
Ratio Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
0.000 * Ltv *= 5.000 3 877,977.65 1.00 2.03
5.000 * Ltv *= 10.000 11 3,704,678.99 4.22 7.43
10.000 * Ltv *= 15.000 12 5,607,715.54 6.39 8.11
15.000 * Ltv *= 20.000 19 7,336,599.13 8.36 12.84
20.000 * Ltv *= 25.000 19 12,909,546.00 14.70 12.84
25.000 * Ltv *= 30.000 18 11,435,311.75 13.02 12.16
30.000 * Ltv *= 35.000 17 11,753,595.13 13.39 11.49
35.000 * Ltv *= 40.000 11 6,447,719.44 7.34 7.43
40.000 * Ltv *= 45.000 14 10,417,269.64 11.86 9.46
45.000 * Ltv *= 50.000 10 5,404,706.70 6.16 6.76
50.000 * Ltv *= 55.000 8 6,165,504.73 7.02 5.41
55.000 * Ltv *= 60.000 3 4,457,999.06 5.08 2.03
60.000 * Ltv *= 65.000 1 385,528.12 0.44 .68
70.000 * Ltv *= 75.000 2 904,658.54 1.03 1.35
- ------------------------------------------------------------------------------------------------------
Total.................... 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
*=Less Than
</TABLE>
DISTRIBUTION OF MARGINS
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Number of Current Current Percentage of
Margin Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
1.0 * Margin *= 1.5 18 11,833,621.34 13.48 12.16
1.5 * Margin *= 2.0 67 40,886,907.19 46.56 45.27
2.0 * Margin *= 2.5 55 31,653,670.45 36.05 37.16
2.5 * Margin *= 3.0 8 3,434,611.44 3.91 5.41
- ------------------------------------------------------------------------------------------------------
Total................. 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
*=Less Than
</TABLE>
LOAN SUMMARY STRATIFIED BY LIFE FLOOR
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Gross Number of Current Current Percentage of
Life Floor Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
1.000 * Floor *= 1.500 14 9,742,584.04 11.10 9.46
1.500 * Floor *= 2.000 19 9,877,630.80 11.25 12.84
2.000 * Floor *= 2.500 9 6,786,404.72 7.73 6.08
2.500 * Floor *= 3.000 3 1,236,599.54 1.41 2.03
3.500 * Floor *= 4.000 1 368,830.90 0.42 .68
4.500 * Floor *= 5.000 3 1,882,181.49 2.14 2.03
5.000 * Floor *= 5.500 24 19,453,640.13 22.15 16.22
5.500 * Floor *= 6.000 41 21,891,146.70 24.93 27.70
6.000 * Floor *= 6.500 23 10,428,944.63 11.88 15.54
6.500 * Floor *= 7.000 1 396,078.40 0.45 .68
7.500 * Floor *= 8.000 1 824,304.68 0.94 .68
8.000 * Floor *= 8.500 2 1,756,219.35 2.00 1.35
8.500 * Floor *= 9.000 2 1,187,191.00 1.35 1.35
9.000 * Floor *= 9.500 2 848,829.13 0.97 1.35
9.500 * Floor *= 10.000 3 1,128,224.91 1.28 2.03
- ------------------------------------------------------------------------------------------------------
Total................. 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
*=Less Than
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
LOAN SUMMARY STRATIFIED BY LIFE CAP
<TABLE>
<CAPTION>
Percentage of
Cut-Off Date
Number of Aggregate Aggregate
Gross Mortgage Current Current Percentage of
Life Cap Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
CAP = 0.000 45 27,643,219.10 31.48 30.41
12.500 * CAP *= 13.000 1 824,304.68 0.94 .68
13.000 * CAP *= 13.500 2 1,756,219.35 2.00 1.35
13.500 * CAP *= 14.000 3 1,556,021.90 1.77 2.03
14.000 * CAP *= 14.500 1 235,576.84 0.27 .68
14.500 * CAP *= 15.000 6 3,010,406.40 3.43 4.05
15.000 * CAP *= 15.500 34 21,729,716.14 24.75 22.97
15.500 * CAP *= 16.000 36 20,905,770.65 23.81 24.32
16.000 * CAP *= 16.500 19 9,580,770.47 10.91 12.84
16.500 * CAP *= 17.000 1 566,804.89 0.65 .68
- ------------------------------------------------------------------------------------------------------
Total................. 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
*=Less Than
</TABLE>
ORIGINAL AGGREGATE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Cut-Off Date
Original Aggregate Number of Current Current Percentage of
Principal Balance Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
0 * Balance *= 50,000 1 28,847.97 0.03 .68
50,000 * Balance *= 100,000 8 627,493.87 0.71 5.41
100,000 * Balance *= 150,000 12 1,495,285.93 1.70 8.11
150,000 * Balance *= 200,000 9 1,584,861.29 1.80 6.08
200,000 * Balance *= 250,000 13 2,821,069.31 3.21 8.78
250,000 * Balance *= 300,000 6 1,676,113.60 1.91 4.05
300,000 * Balance *= 350,000 6 1,946,927.67 2.22 4.05
350,000 * Balance *= 400,000 9 3,186,075.54 3.63 6.08
400,000 * Balance *= 450,000 4 1,705,169.33 1.94 2.70
450,000 * Balance *= 500,000 4 1,892,532.28 2.16 2.70
500,000 * Balance *= 550,000 6 3,154,387.55 3.59 4.05
550,000 * Balance *= 600,000 7 4,013,679.87 4.57 4.73
600,000 * Balance *= 650,000 7 4,325,998.20 4.93 4.73
650,000 * Balance *= 700,000 4 2,710,282.64 3.09 2.70
700,000 * Balance *= 750,000 6 4,362,475.63 4.97 4.05
750,000 * Balance *= 800,000 7 5,396,380.68 6.15 4.73
800,000 * Balance *= 850,000 2 1,671,742.86 1.90 1.35
850,000 * Balance *= 900,000 8 6,941,669.73 7.91 5.41
900,000 * Balance *= 950,000 1 929,764.34 1.06 .68
950,000 * Balance *= 1,000,000 4 3,835,683.46 4.37 2.70
1,000,000 * Balance *= 1,100,000 4 4,052,881.32 4.62 2.70
1,100,000 * Balance *= 1,200,000 3 3,482,441.90 3.97 2.03
1,200,000 * Balance *= 1,300,000 4 4,838,077.58 5.51 2.70
1,300,000 * Balance *= 1,400,000 2 2,684,128.82 3.06 1.35
1,400,000 * Balance *= 1,500,000 4 5,756,263.64 6.56 2.70
1,500,000 * Balance 7 12,688,575.41 14.45 4.73
- ------------------------------------------------------------------------------------------------------
Total.................... 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
*=Less Than
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
CURRENT AGGREGATE LOAN AMOUNTS
<TABLE>
<CAPTION>
Percentage of
Cut-Off Date
Current Aggregate Number of Current Current Percentage of
Principal Balance Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
0 * Balance *= 50,000 1 28,847.97 0.03 .68
50,000 * Balance *= 100,000 10 810,726.94 0.92 6.76
100,000 * Balance *= 150,000 12 1,604,665.52 1.83 8.11
150,000 * Balance *= 200,000 8 1,435,531.52 1.63 5.41
200,000 * Balance *= 250,000 13 2,923,021.01 3.33 8.78
250,000 * Balance *= 300,000 6 1,676,113.60 1.91 4.05
300,000 * Balance *= 350,000 7 2,286,093.03 2.60 4.73
350,000 * Balance *= 400,000 7 2,601,675.59 2.96 4.73
400,000 * Balance *= 450,000 4 1,705,169.33 1.94 2.70
450,000 * Balance *= 500,000 4 1,892,532.28 2.16 2.70
500,000 * Balance *= 550,000 6 3,154,387.55 3.59 4.05
550,000 * Balance *= 600,000 8 4,611,178.22 5.25 5.41
600,000 * Balance *= 650,000 6 3,728,499.85 4.25 4.05
650,000 * Balance *= 700,000 4 2,710,282.64 3.09 2.70
700,000 * Balance *= 750,000 6 4,362,475.63 4.97 4.05
750,000 * Balance *= 800,000 7 5,396,380.68 6.15 4.73
800,000 * Balance *= 850,000 4 3,344,073.18 3.81 2.70
850,000 * Balance *= 900,000 6 5,269,339.41 6.00 4.05
900,000 * Balance *= 950,000 2 1,871,273.14 2.13 1.35
950,000 * Balance *= 1,000,000 3 2,894,174.66 3.30 2.03
1,000,000 * Balance *= 1,100,000 4 4,052,881.32 4.62 2.70
1,100,000 * Balance *= 1,200,000 4 4,624,903.54 5.27 2.70
1,200,000 * Balance *= 1,300,000 3 3,695,615.94 4.21 2.03
1,300,000 * Balance *= 1,400,000 2 2,684,128.82 3.06 1.35
1,400,000 * Balance *= 1,500,000 4 5,756,263.64 6.56 2.70
1,500,000 * Balance 7 12,688,575.41 14.45 4.73
- ------------------------------------------------------------------------------------------------------
Total.................... 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
*=Less Than
</TABLE>
GEOGRAPHICAL DISTRIBUTION OF PROPERTIES BY LOAN
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Current Unguar. Current Unguar. Percentage of
State Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
AL 2 2,360,082.02 2.69 1.35
AZ 5 2,564,097.30 2.92 3.38
CA 46 27,719,399.37 31.57 31.08
CO 20 11,326,520.41 12.90 13.51
FL 6 1,581,918.69 1.80 4.05
GA 2 2,902,506.16 3.31 1.35
ID 1 91,987.00 0.10 .68
IL 5 2,884,551.60 3.29 3.38
IN 3 1,385,147.38 1.58 2.03
KY 4 2,001,552.97 2.28 2.70
MA 2 1,742,432.14 1.98 1.35
MD 2 1,594,452.50 1.82 1.35
MI 1 73,882.71 0.08 .68
NJ 4 2,207,772.79 2.51 2.70
NM 1 251,324.39 0.29 .68
NV 1 511,418.00 0.58 .68
NY 8 5,311,181.75 6.05 5.41
OH 1 1,007,492.27 1.15 .68
OR 10 6,282,684.38 7.15 6.76
PA 3 1,574,451.82 1.79 2.03
SC 3 1,099,204.55 1.25 2.03
TN 1 780,926.98 0.89 .68
TX 3 3,454,194.87 3.93 2.03
VA 3 2,271,799.01 2.59 2.03
WA 11 4,827,829.36 5.50 7.43
- ------------------------------------------------------------------------------------------------------
Total............... 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
DEBT SERVICE COVERAGE RATIO
<TABLE>
<CAPTION>
Percentage of
Debt Sevice Aggregate CutOff Date
Coverage Ratio Number of Current Unguar. Current Unguar. Percentage of
Range Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
Dsc Ratio = 0.00 4 1,808,395.84 2.06 2.70
0.00 * Dsc Ratio *= 0.50 7 4,448,833.85 5.07 4.73
0.50 * Dsc Ratio *= 1.00 15 7,976,597.34 9.08 10.14
1.00 * Dsc Ratio *= 1.50 77 46,388,136.92 52.83 52.03
1.50 * Dsc Ratio *= 2.00 26 13,491,464.24 15.36 17.57
2.00 * Dsc Ratio *= 2.50 10 6,588,419.02 7.50 6.76
2.50 * Dsc Ratio *= 3.00 2 3,083,350.80 3.51 1.35
3.00 * Dsc Ratio *= 3.50 2 874,396.41 1.00 1.35
3.50 * Dsc Ratio *= 4.00 1 722,015.63 0.82 .68
4.00 * Dsc Ratio *= 4.50 3 2,222,335.45 2.53 2.03
6.50 * Dsc Ratio *= 7.00 1 204,864.92 0.23 .68
- ------------------------------------------------------------------------------------------------
Total....... 148 $ 87,808,810.42 100.00% 100.00%
================================================================================================
*=Less Than
</TABLE>
INDUSTRY CODE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Current Unguar. Current Unguar. Percentage of
Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
Agricultural Production - Crops 1 859,225.57 0.98 .68
Agricultural Services 3 684,734.59 0.78 2.03
Amusemnent and Recreation 8 6,440,061.61 7.33 5.41
Auto Repair,Services & Parking 4 766,554.97 0.87 2.70
Business Services 3 2,236,520.31 2.55 2.03
Educational Services 2 228,404.66 0.26 1.35
Engineering and Management 3 519,568.03 0.59 2.03
General Building Contract 1 856,085.56 0.97 .68
Health Services 11 4,049,319.11 4.61 7.43
Hotels and other Lodging 37 32,277,494.33 36.76 25.00
Manu - Apparel and other 1 1,034,428.00 1.18 .68
Manu - Electronics 2 695,150.63 0.79 1.35
Manu - Fabricated Metal Products 1 890,995.58 1.01 .68
Manu - Food and Kindred Products 2 1,335,261.03 1.52 1.35
Manu - Furniture and Fixtures 3 1,203,506.79 1.37 2.03
Manu - Industrial Mach & Equip. 3 988,417.15 1.13 2.03
Manu - Lumber and Wood Products 1 211,342.49 0.24 .68
Manu - Miscellaneous 4 2,546,704.98 2.90 2.70
Manu - Petro and Coal Products 1 563,428.49 0.64 .68
Manu - Printing and Publilishing 1 235,269.54 0.27 .68
Manu - Transportation Equip. 1 239,296.27 0.27 .68
Personal Services 1 290,688.89 0.33 .68
Private Households 1 568,181.67 0.65 .68
Retail - Auto Dlrs & Serv. Stations 10 4,828,183.19 5.50 6.76
Retail - Eating and Drink Place 18 9,288,957.68 10.58 12.16
Retail - Food Stores 2 1,483,393.66 1.69 1.35
Retail - Furniture and Home Furniture 5 5,249,246.81 5.98 3.38
Retail - General Merchand 1 370,881.18 0.42 .68
Retail - Misc. Retail 2 503,773.09 0.57 1.35
Services NEC 1 207,675.00 0.24 .68
Social Services 1 661,274.50 0.75 .68
Special Trade Contractors 2 323,097.10 0.37 1.35
Trucking and Warehousing 1 695,849.84 0.79 .68
Water Transporation 1 442,272.20 0.50 .68
Wholesale Trade - Durable Goods 2 711,528.12 0.81 1.35
Wholesale Trade - Non Durable Goods 7 3,322,037.80 3.78 4.73
- ------------------------------------------------------------------------------------------------------
Total............... 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
<PAGE>
PRODUCT TYPE
<TABLE>
<CAPTION>
Percentage of
Aggregate Cut-Off Date
Number of Current Unguar. Current Unguar. Percentage of
Loans Principal Balance Principal Balance Loan Count
<S> <C> <C> <C> <C>
504 Loans 88 67,672,735.77 77.07 59.46
Companion Loans 60 20,136,074.65 22.93 40.54
- ------------------------------------------------------------------------------------------------------
Total............... 148 $ 87,808,810.42 100.00% 100.00%
======================================================================================================
</TABLE>
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH
A DISCLAIMER, PLEASE CONTACT YOUR PRUDENTIAL SECURITIES INCORPORATED
FINANCIAL ADVISOR IMMEDIATELY.
