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: December 20, 2000
(Date of earliest event reported)
Residential Asset Securities Corporation
(Exact name of registrant as specified in its charter)
Delaware 333-84939 51-0362653
-------- --------- ----------
(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification No.)
8400 Normandale Lake Blvd., Suite 600, Minneapolis, Minnesota 55437
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code:(612) 832-7000
<PAGE>
-2-
Item 5. Other Events.
On December 28, 2000, the Registrant expects to cause the
issuance and sale of Home Equity Mortgage Pass-Through Certificates,
Series 2000-KS5 (the "Certificates") pursuant to a Pooling and Servicing
Agreement to be dated as of December 1, 2000, among the Registrant,
Residential Funding Corporation, as Master Servicer, and Bank One,
National Association, as Trustee.
In connection with the expected sale of the Series 2000-KS5, the
Class A-I-1, Class A-I-2, Class A-I-3, Class A-I-4, Class A-I-5, Class
A-I-6, and Class A-II Certificates (the "Underwritten Certificates"),
the Registrant has been advised by Salomon Smith Barney (the
"Underwriter"), that the Underwriter has furnished to prospective
investors certain computational materials (the "Computational
Materials") with respect to the Underwritten Certificates following the
effective date of the related Registration Statement, which
Computational Materials are being filed electronically as an exhibit to
this report.
The Computational Materials filed herewith as Exhibit 99 have
been provided by the Underwriter. The information in the Computational
Materials is preliminary and may be superseded by the Prospectus
Supplement relating to the Certificates and by any other related
information subsequently filed with the Securities and Exchange
Commission.
The Computational Materials were prepared by the Underwriter at
the request of certain prospective investors, based on assumptions
provided by, and satisfying the special requirements of, such investors.
The Computational Materials may be based on assumptions that differ from
the assumptions set forth in the related Prospectus Supplement. The
Computational Materials may not include, and do not purport to include,
information based on assumptions representing a complete set of possible
scenarios. Accordingly, the Computational Materials may not be relevant
to, or appropriate for, investors other than those specifically
requesting them.
In addition, the actual characteristics and performance of the
Mortgage Loans underlying the Certificates may differ from the
assumptions used in the Computational Materials, which are hypothetical
in nature and which were provided to certain investors only to give a
general sense of how the yield, average life, duration, expected
maturity, interest rate sensitivity and cash flow characteristics of a
particular class of Underwritten Certificates may very under varying
prepayment and other scenarios. Any difference between such assumptions
and the actual characteristics and performance of the Mortgage Loans
will affect the actual yield, average life, duration, expected maturity,
interest rate sensitivity and cash flow characteristics of a particular
class of Underwritten Certificates.
<PAGE>
-3-
Certain assumptions may have been made in the Computational Materials
which have resulted in certain returns which are detailed in the
Computational Materials. No representation is made that any returns set
forth in the Computational Materials will be achieved. Changes to the
assumptions used therein may have a material impact on any returns
detailed. Past performance is not indicative of future results.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
----------- ----------- -----------
1 99 Computational Materials
<PAGE>
-4-
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the Registrant
by the undersigned thereunto duly authorized.
RESIDENTIAL ASSET SECURITIES
CORPORATION
By: /s/ Julie Steinhagen
Name:Julie Ssteinhagen
Title:Vice President
Dated: December 20, 2000
<PAGE>
-5-
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Format
------- ----------- ------------------ ----------
1 99 Computational Electronically
Materials
<PAGE>
-6-
EXHIBIT 1
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GMAC RFC
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RASC Series 2000-KS5 Trust
Home Equity Mortgage Asset-Backed Pass-Through Certificates
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Residential Asset Securities Corporation
Depositor
Residential Funding Corporation
Master Servicer
--------------------------------------------------------------------------------
The following is a preliminary Term Sheet. All terms and statements are
subject to change.
SALOMON SMITH BARNEY
a member of Citigroup
November 28, 2000
--------------------------------------------------------------------------------
The information herein has been provided solely by Salomon Smith Barney ("SSB")
based on information with respect to the mortgage loans provided by Residential
Funding Corporation ("RFC") and its affiliates. Neither RFC nor any of its
affiliates makes any representation as to the accuracy or completeness of the
information herein. The information herein is preliminary and supersedes any
prior information and will be superseded by the prospectus supplement and by any
other information subsequently filed with the Securities and Exchange
Commissions (SEC). All assumptions and information in this report reflect SSB'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, SSB 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. SSB (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, SSB may make a market in the
securities referred to herein. Neither the information nor the assumptions
reflected herein should 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 consummated without the purchaser first
having received a prospectus and, if required prospectus supplement. Finally,
SSB has not addressed the legal, accounting and tax implications of the analysis
with respect to you, and SSB strongly urges you to seek advice from your
counsel, accountant and tax advisor. A final Prospectus and Prospectus
Supplement may be obtained by contacting SSB's Syndicate Desk at (212) 723-6171.
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
STRUCTURE OVERVIEW
To 10% Call
Principa n
Approx. WAL Payment Payme Interest Expected Stated Expected
Class Size ($) Type Bmark (yrs) Window Delay)Accrual Final Final Ratings )
(mos) (days Basis Maturity Maturity (S&P/Moody's
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-I-1 170,000,000Fixed - EDSF 0.90 1 - 21 24 30/360 Sep 2002 [Sept AAA/Aaa
Seq 2016]
A-I-2 48,000,000 Fixed - Swaps 2.00 21 - 28 24 30/360 Apr 2003 [Nov AAA/Aaa
Seq 2020]
A-I-3 95,000,000 Fixed - Swaps 3.01 28 - 47 24 30/360 Nov 2004 [May AAA/Aaa
Seq 2026]
A-I-4 77,000,000 Fixed - Swaps 5.01 47 - 79 24 30/360 Jul 2007 [Feb AAA/Aaa
Seq 2029]
A-I-5 60,000,000 Fixed - Swaps 8.32 79 - 104 24 30/360 Aug 2009 [Jan AAA/Aaa
Seq 2032]
A-I-6 50,000,000 Fixed - Swaps 6.47 37 - 104 24 30/360 Aug 2009 [Jan AAA/Aaa
NAS 2032]
A-II 850,000,000 ARM - PT 1mL 2.60 1 - 83 0 Act/360 Nov 2007 [Jan AAA/Aaa
2032]
</TABLE>
TRANSACTION OVERVIEW
Offered Securities: $500,000,000 of fixed-rate Class A-I
Certificates are being offered concurrently with
$850,000,000 of adjustable-rate Class A-II
Certificates. The Class A-I Certificates are backed
by fixed rate loans (the Group I Loans) and the Class
A-II Certificates are backed by adjustable-rate loans
(the Group II Loans).
Collateral:
o Two groups: Group I (fixed) and Group II (ARM).
o Group I Loans comprised of 1st and 2nd lien fixed-rate
home equity loans and will total approximately
$500,000,000 as of the settlement date.
o Group II Loans comprised of 1st lien
adjustable-rate home equity loans and will total
approximately $850,000,000 as of the settlement
date.
o The information presented is based upon the cut-off
date of November 1, 2000. The aggregate collateral
balance at closing is expected to be
$1,350,000,000. The weighted average mortgage loan
characteristics presented herein are not expected
to materially change with the addition of the
remaining loans.
Depositor: Residential Asset Securities Corporation
Master Servicer: Residential Funding Corporation, an indirect wholly-owned
subsidiary of GMAC Mortgage Group, Inc.
Certificate Insurer: Financial Guaranty Insurance Company ("FGIC"), rated
Aaa/AAA by Moody's and Standard & Poor's respectively.
Certificate Insurance The Certificate Insurance Policy will provide 100%
coverage of timely Policy: interest (net of certain shortfalls), principal
portions of any allocated realized losses and ultimate principal payments
due on the Certificates.
Expected Timing: o Pricing Date: On or about November 29 to 30, 2000.
o Settlement Date: On or about December 28, 2000.
o First Payment Date: January 25, 2001.
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
Structure:
o Group I - Sequential pay (with NAS) supported primarily
by fixed collateral.
o Group II - Pass-through supported primarily by ARM
collateral.
Prepayment Assumption: o Group I - 23% HEP (Assumes that
prepayments start at 2.3% CPR in month one,
increase by 2.3% CPR each month to 23% CPR in month
ten and remain at 23% CPR thereafter.)
o Group II - 28% CPR
Credit Enhancement: o 100% FGIC wrapped.
o Excess spread will be used to turbo the structure
and create overcollateralization.
o Limited cross-collateralization (i.e., if available,
excess cash from either pool will cover certain
shortfalls).
Available Funds Cap:
o Classes A-I-5 and A-I-6 are subject to the Group I Net
WAC Cap. Interest shortfalls due to the cap will not be
reimbursed.
o Class A-II is subject to the Group II Net WAC Cap.
Any Class A-II Basis Risk Shortfall due to the cap
will carry forward with interest.
Cleanup Call: Master Servicer may terminate the trust if the
aggregate principal balance of either Group falls
below 10% of the original principal balance of the
respective Group ("Cleanup Call Date"). The cleanup
calls are independent of each other.
Step-up Coupon: On or after the Cleanup Call Date, the Class
A-I-5 coupon will increase by 0.50% subject to the
Group I Net WAC Cap and the Class A-II margin will
double subject to the Group II Net WAC Cap.
Weighted Average o Servicing fee of:
Monthly Fees: - [0.51%] for Group I
- [0.56%] for Group II
o Insurance premium as stated in the underlying
documents.
Overcollateralization Holidays:
o Group I: one-month O/C holiday where excess cash flow
over the first monthly period will be released to the
seller and will not be used to turbo the structure.
o Group II: partial O/C holiday where up to
$1,000,000 after the first $1,500,000 of excess
cash flow in the first monthly period will be
released to the seller and will not be used to
turbo the structure.
Interest Accrual Period:
o Classes A-I-1 through A-I-6: the calendar month
preceding the current distribution date on a 30/360
basis.
o Class A-II: from and including the preceding
distribution date (for the first distribution
period, the closing date) to but excluding the
current distribution date on an actual/360 basis.
Principal Distributions:
GroupI available principal will be distributed in the
following priority:
1. To the Class A-I-6 equal to the Class A-I-6 Lockout
Distribution Amount.
2. To the Class A-I-1 through A-I-6 sequentially until
each is reduced to zero.
Group II available principal will be distributed to
the Class A-II Certificates until the certificate
balance is reduced to zero.
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
TRANSACTION OVERVIEW CONTINUED
Class A-I-6 Lockout
Distribution Amount:
The Class A-I-6 Certificates will be allocated a percentage
of their pro-rata share of principal collections. The
percentage allocation follows the schedule below:
o January 2001 - December 0.0%
2003: 45.0%
o January 2004 - December 80.0%
2005: 100.0%
o January 2006 - December 300.0% 2006:
o January 2007 - December
2007:
o January 2008 and
thereafter:
Class A-I-6 Pro-Rata
Distribution Amount:
For any distribution date, the Class A-I-6 pro-rata share of
principal will equal the product of (x) (i) the Class A-I-6
principal balance (on the prior distribution date) as a
percentage of (ii) the aggregate principal balance of the
Class A-I Certificates (on the prior distribution date) and
(y) the amount of principal available for distribution on
the Class A-I Certificates on the related distribution date.
Distribution Date: 25th of each month (or the next the business day if such a
day is not a business day) commencing in January 2001.
Taxation: REMIC election.
ERISAConsiderations: All of the Offered Securities are expected to be
ERISA-eligible.
Legal Investment: None of the Certificates will be SMMEA-eligible.
Trustee: Bank One, National Association.
Underwriters: Lead Manager: Salomon Smith Barney
Co-Managers: Bear, Stearns & Co. Inc., Chase Securities
Inc., Residential Funding Securities Corporation
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
GROUP I SENSITIVITY ANALYSIS
To 10% Call
<S> <C> <C> <C> <C> <C> <C>
Group I % of HEP 0.0% 14.0% 18.0% 23.0% 28.0% 32.0%
Class A-I-1
Avg. Life (yrs) 10.62 1.36 1.10 0.90 0.78 0.70
Window (mos) 1-179 1-33 1- 26 1- 21 1- 17 1- 15
Expected Final Mat. Nov-15 Sep-03 Feb-03 Sep-02 May-02 Mar-02
Class A-I-2
Avg. Life (yrs) 17.35 3.21 2.52 2.00 1.66 1.46
Window (mos) 179-233 33- 45 26- 35 21- 28 17- 23 15- 20
Expected Final Mat. May-20 Sep-04 Nov-03 Apr-03 Nov-02 Aug-02
Class A-I-3
Avg. Life (yrs) 22.61 5.06 3.89 3.01 2.45 2.14
Window (mos) 233-303 45- 81 35- 61 28- 47 23- 37 20- 32
Expected Final Mat. Mar-26 Sep-07 Jan-06 Nov-04 Jan-04 Aug-03
Class A-I-4
Avg. Life (yrs) 26.74 9.47 6.92 5.01 3.96 3.37
Window (mos) 303-337 81-150 61-117 47- 79 37- 60 32- 51
Expected Final Mat. Jan-29 Jun-13 Sep-10 Jul-07 Dec-05 Mar-05
Class A-I-5
Avg. Life (yrs) 28.45 13.68 10.91 8.32 6.45 5.41
Window (mos) 337-342 150-166 117-133 79-104 60- 85 51- 73
Expected Final Mat. Jun-29 Oct-14 Jan-12 Aug-09 Jan-08 Jan-07
Class A-I-6
Avg. Life (yrs) 13.76 7.59 7.03 6.47 5.89 5.34
Window (mos) 37-342 37-166 37-133 37-104 37- 85 37- 73
Expected Final Mat. Jun-29 Oct-14 Jan-12 Aug-09 Jan-08 Jan-07
To Maturity
Class A-I-5
Avg. Life (yrs) 28.98 16.38 13.44 10.48 8.05 6.52
Window (mos) 337-358 150-313 117-268 79-217 60-178 51-161
Expected Final Mat. Oct-30 Jan-27 Apr-23 Jan-19 Oct-15 May-14
Class A-I-6
Avg. Life (yrs) 13.76 7.61 7.08 6.59 6.23 6.00
Window (mos) 37-356 37-310 37-266 37-215 37-177 37-159
Expected Final Mat. Aug-30 Oct-26 Feb-23 Nov-18 Sep-15 Mar-14
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II SENSITIVITY ANALYSIS
To 10% Call
Group II % of CPR 0.0% 14.0% 20.0% 28.0% 35.0% 40.0%
Class A-II
Avg. Life (yrs) 21.78 5.45 3.77 2.60 2.00 1.70
Window (mos) 1-349 1-174 1-121 1-83 1-64 1-54
Expected Final Mat. Jan-30 Jun-15 Jan-11 Nov-07 Apr-06 Jun-05
To Maturity
Class A-II
Avg. Life (yrs) 21.82 5.86 4.10 2.83 2.18 1.85
Window (mos) 1-358 1-326 1-263 1-188 1-146 1-123
Expected Final Mat. Oct-30 Feb-28 Nov-22 Aug-16 Feb-13 Mar-11
</TABLE>
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II AVAILABLE FUNDS CAP ANALYSIS
Assumptions
o LIBOR stressed to infinity o Available funds cap is
o No O/C buildup calculated
o Act/360 day count net of
o 0% Losses servicing
o 28% CPR fee and
surety fee
1/25/01 10.95% 1/25/04 14.01%
2/25/01 9.88% 2/25/04 14.01%
3/25/01 10.95% 3/25/04 14.98%
4/25/01 9.88% 4/25/04 14.01%
5/25/01 10.22% 5/25/04 15.67%
6/25/01 9.88% 6/25/04 15.16%
7/25/01 10.22% 7/25/04 15.67%
8/25/01 9.88% 8/25/04 15.16%
9/25/01 9.88% 9/25/04 15.16%
10/25/01 10.22% 10/25/04 15.67%
11/25/01 9.88% 11/25/04 15.79%
12/25/01 10.22% 12/25/04 16.32%
1/25/02 9.88% 1/25/05 15.79%
2/25/02 9.88% 2/25/05 15.79%
3/25/02 10.96% 3/25/05 17.49%
4/25/02 9.88% 4/25/05 15.79%
5/25/02 10.22% 5/25/05 16.72%
6/25/02 9.88% 6/25/05 16.17%
7/25/02 10.22% 7/25/05 16.72%
8/25/02 9.88% 8/25/05 16.17%
9/25/02 9.88% 9/25/05 16.17%
10/25/02 10.22% 10/25/05 16.72%
11/25/02 11.70% 11/25/05 16.24%
12/25/02 12.10% 12/25/05 16.79%
1/25/03 11.70% 1/25/06 16.24%
2/25/03 11.70% 2/25/06 16.24%
3/25/03 12.97% 3/25/06 18.00%
4/25/03 11.70% 4/25/06 16.24%
5/25/03 12.89% 5/25/06 16.79%
6/25/03 12.47% 6/25/06 16.24%
7/25/03 12.89% 7/25/06 16.79%
8/25/03 12.47% 8/25/06 16.24%
9/25/03 12.47% 9/25/06 16.24%
10/25/03 12.89% 10/25/06 16.79%
11/25/03 14.01% 11/25/06 16.24%
12/25/03 14.48% 12/25/06 16.79%
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
Statistics for the fixed rate home equity loans are listed below as of the
Cut-off Date of November 1, 2000.
<TABLE>
<CAPTION>
Summary Statistics Range (if applicable)
Number of Mortgage Loans: 4,976
Aggregate Current Principal Balance: $396,596,783.68
<S> <C> <C> <C>
Average Current Principal Balance: $79,701.93 $2,600.64 to $648,320.57
Aggregate Original Principal Balance: $397,164,537.03
Average Original Principal Balance: $79,816.02 $3,250.00 to $649,500.00
Wtd. Avg. Gross Coupon: 11.067% 7.850% to 17.990%
Wtd. Avg. Net Coupon: 10.55% 7.270% to 17.410%
Wtd. Avg. Original Term (months): 305.86 24.00 to 360.00
Wtd. Avg. Remaining Term (months): 304.10 23.00 to 360.00
Wtd. Avg. Age (months): 1.76 0.00 to 35.00
Wtd. Avg. Original CLTV: 78.78% 5.00% to 100.00%
Wtd. Avg. Borrower FICO: (1) 598.33 435.00 to 806.00
Balloon Loans (% of Total): 17.77%
Lien Position (1st / 2nd): 96.99% / 3.01%
Geographic Distribution: (2) California 8.36%
Texas 8.23%
Florida 7.57%
Georgia 7.20%
Michigan 6.84%
New York 6.21%
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I CURRENT MORTGAGE LOAN AMOUNTS
Principal Balance ($) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 10,000.00 51 495,271.40 0.12
10,000.01 - 20,000.00 293 4,332,237.74 1.09
20,000.01 - 30,000.00 449 11,681,949.16 2.95
30,000.01 - 40,000.00 502 17,821,609.74 4.49
40,000.01 - 50,000.00 535 24,285,126.64 6.12
50,000.01 - 60,000.00 612 33,856,886.97 8.54
60,000.01 - 70,000.00 432 28,156,081.22 7.10
70,000.01 - 80,000.00 365 27,351,810.95 6.90
80,000.01 - 90,000.00 267 22,756,654.25 5.74
90,000.01 - 100,000.00 246 23,460,133.77 5.92
100,000.01 - 110,000.00 189 19,860,506.51 5.01
110,000.01 - 120,000.00 164 18,921,841.03 4.77
120,000.01 - 130,000.00 147 18,354,526.02 4.63
130,000.01 - 140,000.00 110 14,861,073.20 3.75
140,000.01 - 150,000.00 84 12,219,898.82 3.08
150,000.01 - 200,000.00 249 42,731,694.83 10.77
200,000.01 - 250,000.00 124 27,455,952.69 6.92
250,000.01 - 300,000.00 97 26,647,334.91 6.72
300,000.01 - 350,000.00 32 10,478,043.25 2.64
350,000.01 - 400,000.00 25 9,305,345.61 2.35
400,000.01 - 450,000.00 1 449,795.56 0.11
450,000.01 - 500,000.00 1 464,688.84 0.12
600,000.01 - 650,000.00 1 648,320.57 0.16
Total: 4,976 396,596,783.68 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I ORIGINAL MORTGAGE LOAN AMOUNTS
Principal Balance ($) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 10,000.00 51 495,271.40 0.12
10,000.01 - 20,000.00 292 4,317,587.14 1.09
20,000.01 - 30,000.00 450 11,696,599.76 2.95
30,000.01 - 40,000.00 498 17,667,871.09 4.45
40,000.01 - 50,000.00 535 24,254,706.32 6.12
50,000.01 - 60,000.00 615 34,006,731.36 8.57
60,000.01 - 70,000.00 432 28,156,081.22 7.10
70,000.01 - 80,000.00 363 27,192,098.14 6.86
80,000.01 - 90,000.00 267 22,683,519.41 5.72
90,000.01 - 100,000.00 249 23,727,296.00 5.98
100,000.01 - 110,000.00 188 19,751,344.13 4.98
110,000.01 - 120,000.00 164 18,911,792.85 4.77
120,000.01 - 130,000.00 147 18,343,763.60 4.63
130,000.01 - 140,000.00 111 14,991,046.18 3.78
140,000.01 - 150,000.00 83 12,073,871.42 3.04
150,000.01 - 200,000.00 250 42,877,722.23 10.81
200,000.01 - 250,000.00 123 27,206,097.43 6.86
250,000.01 - 300,000.00 98 26,897,190.17 6.78
300,000.01 - 350,000.00 32 10,478,043.25 2.64
350,000.01 - 400,000.00 25 9,305,345.61 2.35
400,000.01 - 450,000.00 1 449,795.56 0.11
450,000.01 - 500,000.00 1 464,688.84 0.12
600,000.01 - 650,000.00 1 648,320.57 0.16
Total: 4,976 396,596,783.68 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUOP I GROSS MORTGAGE INTEREST RATES
Gross Interest Rate (%) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
7.750 - 7.999 1 230,912.00 0.06
8.250 - 8.499 4 698,953.51 0.18
8.500 - 8.749 8 780,595.66 0.20
8.750 - 8.999 55 6,338,405.53 1.60
9.000 - 9.249 39 3,952,781.99 1.00
9.250 - 9.499 83 10,233,098.49 2.58
9.500 - 9.749 164 18,091,082.70 4.56
9.750 - 9.999 341 39,429,187.09 9.94
10.000 - 10.249 165 16,083,632.59 4.06
10.250 - 10.499 250 27,606,480.49 6.96
10.500 - 10.749 377 37,315,967.05 9.41
10.750 - 10.999 495 44,828,607.91 11.30
11.000 - 11.249 255 21,091,197.64 5.32
11.250 - 11.499 339 30,875,362.58 7.79
11.500 - 11.749 373 30,493,538.62 7.69
11.750 - 11.999 488 32,139,512.36 8.10
12.000 - 12.249 236 14,642,237.19 3.69
12.250 - 12.499 246 15,768,958.44 3.98
12.500 - 12.749 198 12,916,488.10 3.26
12.750 - 12.999 213 11,100,043.29 2.80
13.000 - 13.249 77 4,183,589.00 1.05
13.250 - 13.499 74 4,063,790.50 1.02
13.500 - 13.749 59 3,163,985.43 0.80
13.750 - 13.999 97 3,396,329.63 0.86
14.000 - 14.249 23 1,007,293.50 0.25
14.250 - 14.499 22 988,130.78 0.25
14.500 - 14.749 13 488,648.80 0.12
14.750 - 14.999 275 4,519,331.79 1.14
15.250 - 15.499 2 70,920.84 0.02
15.500 - 15.749 1 46,893.97 0.01
15.750 - 15.999 1 13,479.56 0.00
16.750 - 16.999 1 19,476.85 0.00
17.750 - 17.990 1 17,869.80 0.00
Total: 4,976 396,596,783.68 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I NET MORTGAGE INTEREST RATES
Net Interest Rate (%) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
7.250 - 7.499 1 $230,912.00 0.06
7.750 - 7.999 4 $340,662.13 0.09
8.000 - 8.249 13 $1,897,774.17 0.48
8.250 - 8.499 39 $4,182,581.38 1.05
8.500 - 8.749 53 $5,912,384.20 1.49
8.750 - 8.999 92 $9,472,748.79 2.39
9.000 - 9.249 145 $16,526,381.45 4.17
9.250 - 9.499 253 $29,592,866.04 7.46
9.500 - 9.749 287 $31,117,313.21 7.85
9.750 - 9.999 338 $34,653,132.34 8.74
10.000 - 10.249 355 $35,040,174.80 8.84
10.250 - 10.499 455 $40,198,425.52 10.14
10.500 - 10.749 327 $29,334,753.73 7.40
10.750 - 10.999 393 $33,354,798.67 8.41
11.000 - 11.249 334 $26,207,514.35 6.61
11.250 - 11.499 420 $26,124,854.49 6.59
11.500 - 11.749 264 $17,355,971.74 4.38
11.750 - 11.999 229 $15,032,825.76 3.79
12.000 - 12.249 188 $11,130,572.11 2.81
12.250 - 12.499 172 $8,866,924.69 2.24
12.500 - 12.749 88 $4,429,307.21 1.12
12.750 - 12.999 70 $3,982,126.45 1.00
13.000 - 13.249 47 $2,149,032.26 0.54
13.250 - 13.499 83 $2,893,291.34 0.73
13.500 - 13.749 21 $871,378.55 0.22
13.750 - 13.999 18 $804,518.32 0.20
14.000 - 14.249 11 $373,099.57 0.09
14.250 - 14.499 270 $4,351,817.39 1.10
14.750 - 14.999 1 $19,941.27 0.01
15.000 - 15.249 2 $97,873.54 0.02
15.250 - 15.499 1 $13,479.56 0.00
16.250 - 16.499 1 $19,476.85 0.00
17.250 - 17.499 1 $17,869.80 0.00
Total: 4,976 $396,596,783.68 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
Original LTV (%) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 6.00 2 $54,919.84 0.01
6.01 - 11.00 6 $187,396.67 0.05
11.01 - 16.00 10 $330,361.09 0.08
16.01 - 21.00 14 $410,127.90 0.10
21.01 - 26.00 19 $703,703.01 0.18
26.01 - 31.00 33 $1,220,857.62 0.31
31.01 - 36.00 28 $1,490,873.02 0.38
36.01 - 41.00 43 $2,007,866.33 0.51
41.01 - 46.00 68 $3,448,533.71 0.87
46.01 - 51.00 108 $5,301,411.33 1.34
51.01 - 56.00 99 $5,806,744.45 1.46
56.01 - 61.00 170 $10,719,218.16 2.70
61.01 - 66.00 219 $13,945,447.36 3.52
66.01 - 71.00 425 $29,356,255.19 7.40
71.01 - 76.00 612 $50,198,273.44 12.66
76.01 - 81.00 1,203 $111,940,865.42 28.23
81.01 - 86.00 774 $69,723,779.38 17.58
86.01 - 91.00 740 $73,318,007.96 18.49
91.01 - 96.00 209 $12,748,666.56 3.21
96.01 - 100.00 194 $3,683,475.24 0.93
Total: 4,976 $396,596,783.68 100.00
GROUP I LIEN POSITION
Position Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
1st Lien 4,485 384,664,993.65 96.99
2nd Lien 491 11,931,790.03 3.01
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I OWNER OCCUPANCY
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Owner occupied 4,439 363,623,133.88 91.69
Non-owner occupied 537 32,973,649.80 8.31
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I DOCUMENTATION TYPE
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Full Documentation 4,244 321,368,751.62 81.03
Reduced Documentation 732 75,228,032.06 18.97
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I LOAN PURPOSE
Purpose Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Purchase 1,568 133,236,713.05 33.59
Equity Refinance 3,055 229,084,702.38 57.76
Rate/Term Refinance 353 34,275,368.25 8.64
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I CREDIT GRADE
Grade Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
1-A-1 974 105,700,949.96 26.65
1-A 1,081 82,721,475.30 20.86
1 1,184 92,732,124.38 23.38
2 1,283 88,762,833.66 22.38
3 359 20,592,991.83 5.19
4 82 4,644,959.13 1.17
Other 13 1,441,449.42 0.36
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I FICO SCORE
Score Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
421 - 440 1 85,571.86 0.02
441 - 460 18 1,599,557.61 0.40
461 - 480 59 3,409,447.99 0.86
481 - 500 93 6,201,872.08 1.56
501 - 520 244 17,300,917.23 4.36
521 - 540 396 27,115,011.60 6.84
541 - 560 584 38,937,969.71 9.82
561 - 580 680 48,370,429.35 12.20
581 - 600 677 51,269,675.42 12.93
601 - 620 724 65,626,985.45 16.55
621 - 640 574 52,740,442.53 13.30
641 - 660 418 40,073,731.35 10.10
661 - 680 237 22,162,719.49 5.59
681 - 700 96 8,365,918.39 2.11
701 - 720 58 4,873,640.89 1.23
721 - 740 33 2,858,855.52 0.72
741 - 760 20 1,722,575.72 0.43
761 - 780 14 1,296,345.09 0.33
781 - 800 4 290,192.11 0.07
801 - 820 1 63,750.00 0.02
Unavailable 45 2,231,174.29 0.56
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I PREPAYMENT PENALTIES
Penalty Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
No 1,949 155,275,459.25 39.15
Yes 3,027 241,321,324.43 60.85
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I AMORTIZATION TYPE
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Fully Amortizing 4,037 326,314,011.56 82.28
Balloon 939 70,282,772.12 17.72
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I PROPERTY TYPE
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Attached PUD 58 6,253,843.30 1.58
Condo over 8 stories 4 280,494.43 0.07
Condo under 5 stories 104 9,187,210.71 2.32
Detached PUD 260 30,204,789.37 7.62
Leasehold 3 260,691.29 0.07
Manufactured Home 138 7,641,430.48 1.93
Mid-rise condo (5-8 stories) 10 893,414.85 0.23
Single Family (detached) 4,320 336,873,866.50 84.94
Townhouse/Rowhouse 79 5,001,042.75 1.26
Total: 4,976 396,596,783.68 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP I GEOGRAPHIC DISTRIBUTION
Location Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Alabama 193 11,784,026.56 2.97
Alaska 3 356,300.41 0.09
Arizona 53 4,357,491.67 1.10
Arkansas 33 1,890,515.45 0.48
California 204 33,158,321.66 8.36
Colorado 55 6,826,974.62 1.72
Connecticut 65 5,657,383.70 1.43
Delaware 9 1,135,010.59 0.29
District of Columbia 13 1,237,577.53 0.31
Florida 356 30,009,532.23 7.57
Georgia 317 28,538,827.96 7.20
Hawaii 2 394,219.71 0.10
Idaho 9 717,081.67 0.18
Illinois 220 17,304,131.48 4.36
Indiana 186 12,792,709.97 3.23
Iowa 49 3,447,359.38 0.87
Kansas 36 1,729,721.09 0.44
Kentucky 79 4,745,708.37 1.20
Louisiana 170 9,606,239.11 2.42
Maine 15 893,283.71 0.23
Maryland 81 7,660,182.05 1.93
Massachusetts 55 6,083,645.75 1.53
Michigan 374 27,147,027.36 6.84
Minnesota 64 6,084,718.89 1.53
Mississippi 79 4,976,133.26 1.25
Missouri 80 4,446,302.95 1.12
Montana 5 443,017.36 0.11
Nebraska 23 1,762,337.52 0.44
Nevada 28 2,829,460.54 0.71
New Hampshire 22 1,572,092.74 0.40
New Jersey 62 7,375,094.14 1.86
New Mexico 35 2,726,358.80 0.69
New York 211 24,628,901.66 6.21
North Carolina 154 11,431,633.35 2.88
North Dakota 14 766,709.83 0.19
Ohio 277 17,697,280.65 4.46
Oklahoma 89 4,694,591.34 1.18
Oregon 33 3,164,480.62 0.80
Pennsylvania 137 9,026,696.21 2.28
Rhode Island 20 1,640,436.65 0.41
South Carolina 131 8,517,055.23 2.15
South Dakota 3 150,443.78 0.04
Tennessee 179 10,781,661.96 2.72
Texas 493 32,633,180.29 8.23
Utah 20 2,351,699.32 0.59
Vermont 6 875,654.26 0.22
Virginia 67 5,506,881.80 1.39
Washington 42 4,984,393.27 1.26
West Virginia 41 1,985,211.48 0.50
Wisconsin 79 5,336,905.60 1.35
Wyoming 2 209,962.38 0.05
Mexico 3 524,215.77 0.13
Total: 4,976 396,596,783.68 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
Statistics for the fixed rate home equity loans are listed below as of the
Cut-off Date of November 1, 2000.
Summary Statistics Range (if applicable)
Number of Mortgage Loans: 6,129
Aggregate Current Principal Balance: $679,234,120.74
Average Current Principal Balance: $110,822.99 $14,158.33 to $958,426.31
Aggregate Original Principal Balance: $679,780,154.68
Average Original Principal Balance: $110,912.08 $14,250.00 to $958,750.00
Wtd. Avg. Gross Coupon: 10.923% 8.500% to 15.940%
Wtd. Avg. Net Coupon: 10.360% 7.920% to 15.360%
ARM Characteristics
Wtd. Avg. Margin 6.495% 1.000% to 11.626%
Wtd. Avg. Initial Rate Cap 2.679% 0.500% to 7.000%
Wtd. Avg. Periodic Rate Cap 1.195% 1.000% to 3.000%
Wtd. Avg. Lifetime Cap 17.503% 12.375% to 21.940%
Wtd. Avg. Lifetime Floor 10.373% 1.200% to 15.940%
Wtd. Avg. Original Term (months): 359.93 180.00 to 360.00
Wtd. Avg. Remaining Term (months): 358.17 175.00 to 360.00
Wtd. Avg. Age (months): 1.76 0.00 to 32.00
Wtd. Avg. Original LTV: 81.00% 16.00% to 95.00%
Wtd. Avg. Borrower FICO: (1) 588.44 425.00 to 819.00
Balloon Loans (% of Total): 0.00%
Lien Position (1st / 2nd): 100.00% / 0.00%
Geographic Distribution: (2) California 15.61%
Texas 9.06%
Michigan 6.44%
Georgia 5.60%
Illinois 5.53%
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II CURRENT MORTGAGE LOAN AMOUNTS
Principal Balance ($) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
10,000.01 - 20,000.00 19 358,228.43 0.05
20,000.01 - 30,000.00 124 3,312,511.17 0.49
30,000.01 - 40,000.00 306 11,026,448.78 1.62
40,000.01 - 50,000.00 398 18,086,383.60 2.66
50,000.01 - 60,000.00 571 31,580,731.19 4.65
60,000.01 - 70,000.00 559 36,517,723.03 5.38
70,000.01 - 80,000.00 529 39,777,947.52 5.86
80,000.01 - 90,000.00 458 38,965,079.61 5.74
90,000.01 - 100,000.00 452 43,113,197.72 6.35
100,000.01 - 110,000.00 371 38,986,472.38 5.74
110,000.01 - 120,000.00 351 40,272,418.73 5.93
120,000.01 - 130,000.00 278 34,770,204.53 5.12
130,000.01 - 140,000.00 238 32,173,046.10 4.74
140,000.01 - 150,000.00 195 28,305,891.22 4.17
150,000.01 - 200,000.00 655 112,319,303.97 16.54
200,000.01 - 250,000.00 301 67,552,874.27 9.95
250,000.01 - 300,000.00 168 45,867,384.58 6.75
300,000.01 - 350,000.00 98 31,960,609.46 4.71
350,000.01 - 400,000.00 46 17,376,995.63 2.56
400,000.01 - 450,000.00 1 413,684.15 0.06
450,000.01 - 500,000.00 5 2,433,563.06 0.36
500,000.01 - 550,000.00 2 1,088,467.42 0.16
600,000.01 - 650,000.00 2 1,231,240.07 0.18
750,000.01 - 800,000.00 1 785,287.81 0.12
950,000.01 - 1,000,000.00 1 958,426.31 0.14
Total: 6,129 679,234,120.74 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II CURRENT MORTGAGE LOAN AMOUNTS
Principal Balance ($) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
10,000.01 - 20,000.00 19 358,228.43 0.05
20,000.01 - 30,000.00 124 3,312,511.17 0.49
30,000.01 - 40,000.00 304 10,947,384.85 1.61
40,000.01 - 50,000.00 399 18,125,670.88 2.67
50,000.01 - 60,000.00 571 31,580,731.19 4.65
60,000.01 - 70,000.00 560 36,557,499.68 5.38
70,000.01 - 80,000.00 528 39,703,897.64 5.85
80,000.01 - 90,000.00 457 38,868,953.64 5.72
90,000.01 - 100,000.00 454 43,283,373.57 6.37
100,000.01 - 110,000.00 371 38,986,472.38 5.74
110,000.01 - 120,000.00 351 40,272,418.73 5.93
120,000.01 - 130,000.00 273 34,122,322.11 5.02
130,000.01 - 140,000.00 242 32,681,080.11 4.81
140,000.01 - 150,000.00 196 28,445,739.63 4.19
150,000.01 - 200,000.00 655 112,319,303.97 16.54
200,000.01 - 250,000.00 301 67,552,874.27 9.95
250,000.01 - 300,000.00 168 45,867,384.58 6.75
300,000.01 - 350,000.00 98 31,960,609.46 4.71
350,000.01 - 400,000.00 46 17,376,995.63 2.56
400,000.01 - 450,000.00 1 413,684.15 0.06
450,000.01 - 500,000.00 5 2,433,563.06 0.36
500,000.01 - 550,000.00 2 1,088,467.42 0.16
600,000.01 - 650,000.00 2 1,231,240.07 0.18
750,000.01 - 800,000.00 1 785,287.81 0.12
950,000.01 - 1,000,000.00 1 958,426.31 0.14
Total: 6,129 679,234,120.74 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUOP II GROSS MORTGAGE INTEREST RATES
Gross Interest Rate (%) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
8.500 - 8.749 16 2,586,608.51 0.38
8.750 - 8.999 61 9,738,026.19 1.43
9.000 - 9.249 50 7,426,219.85 1.09
9.250 - 9.499 134 17,339,831.24 2.55
9.500 - 9.749 168 23,041,068.77 3.39
9.750 - 9.999 467 66,126,264.93 9.74
10.000 - 10.249 205 26,438,113.73 3.89
10.250 - 10.499 442 53,979,767.51 7.95
10.500 - 10.749 590 72,586,619.37 10.69
10.750 - 10.999 903 104,497,280.37 15.38
11.000 - 11.249 429 44,714,198.65 6.58
11.250 - 11.499 580 61,625,086.45 9.07
11.500 - 11.749 519 49,865,381.87 7.34
11.750 - 11.999 591 55,773,701.28 8.21
12.000 - 12.249 246 22,570,120.33 3.32
12.250 - 12.499 243 21,358,989.74 3.14
12.500 - 12.749 193 16,258,809.13 2.39
12.750 - 12.999 143 12,347,261.29 1.82
13.000 - 13.249 54 4,129,706.13 0.61
13.250 - 13.499 35 2,600,217.08 0.38
13.500 - 13.749 22 1,615,021.16 0.24
13.750 - 13.999 21 1,526,047.43 0.22
14.000 - 14.249 9 494,972.53 0.07
14.250 - 14.499 5 410,951.54 0.06
14.500 - 14.749 2 76,878.37 0.01
15.750 - 15.999 1 106,977.29 0.02
Total: 6,129 679,234,120.74 100.00
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II NET MORTGAGE INTEREST RATES
Net Interest Rate (%) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
7.750 - 7.999 4 $727,871.64 0.11
8.000 - 8.249 16 $2,197,535.12 0.32
8.250 - 8.499 59 $9,797,708.13 1.44
8.500 - 8.749 72 $10,531,303.57 1.55
8.750 - 8.999 159 $20,723,475.38 3.05
9.000 - 9.249 191 $25,752,037.30 3.79
9.250 - 9.499 433 $59,949,555.26 8.83
9.500 - 9.749 315 $40,674,907.52 5.99
9.750 - 9.999 543 $66,495,892.02 9.79
10.000 - 10.249 626 $76,402,590.47 11.25
10.250 - 10.499 797 $89,455,882.60 13.17
10.500 - 10.749 500 $53,350,113.17 7.85
10.750 - 10.999 590 $59,925,515.61 8.82
11.000 - 11.249 484 $44,147,053.66 6.50
11.250 - 11.499 471 $44,736,734.07 6.59
11.500 - 11.749 257 $24,264,070.20 3.57
11.750 - 11.999 214 $18,599,201.80 2.74
12.000 - 12.249 165 $13,262,327.32 1.95
12.250 - 12.499 113 $9,554,992.41 1.41
12.500 - 12.749 40 $2,901,254.77 0.43
12.750 - 12.999 32 $2,617,730.89 0.39
13.000 - 13.249 19 $1,264,074.97 0.19
13.250 - 13.499 18 $1,134,746.42 0.17
13.500 - 13.749 5 $376,557.06 0.06
13.750 - 13.999 4 $249,023.04 0.04
14.000 - 14.249 1 $34,989.05 0.01
15.250 - 15.499 1 $106,977.29 0.02
Total: 6,129 $679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II GROSS MARGIN
Gross Margin (%) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
1.000 - 1.249 1 51,958.92 0.01
1.250 - 1.499 2 307,226.32 0.05
2.750 - 2.999 1 78,328.46 0.01
3.000 - 3.249 3 322,021.13 0.05
3.750 - 3.999 3 528,261.57 0.08
4.000 - 4.249 8 1,171,400.86 0.17
4.250 - 4.499 15 1,919,831.75 0.28
4.500 - 4.749 41 5,501,829.75 0.81
4.750 - 4.999 75 10,371,724.40 1.53
5.000 - 5.249 177 22,902,594.85 3.37
5.250 - 5.499 254 32,180,633.24 4.74
5.500 - 5.749 356 45,093,749.49 6.64
5.750 - 5.999 465 56,282,564.14 8.29
6.000 - 6.249 554 64,282,155.19 9.46
6.250 - 6.499 699 79,424,087.18 11.69
6.500 - 6.749 760 88,593,834.36 13.04
6.750 - 6.999 649 71,546,770.23 10.53
7.000 - 7.249 863 88,001,068.00 12.96
7.250 - 7.499 298 28,636,602.00 4.22
7.500 - 7.749 284 27,455,305.85 4.04
7.750 - 7.999 223 21,754,153.45 3.20
8.000 - 8.249 138 12,210,447.11 1.80
8.250 - 8.499 123 9,521,304.99 1.40
8.500 - 8.749 62 5,172,310.76 0.76
8.750 - 8.999 43 3,526,160.16 0.52
9.000 - 9.249 16 1,132,123.57 0.17
9.250 - 9.499 8 610,041.68 0.09
9.500 - 9.749 3 275,787.74 0.04
9.750 - 9.999 2 124,556.22 0.02
10.000 - 10.249 1 39,954.86 0.01
10.250 - 10.499 1 108,355.22 0.02
11.500 - 11.749 1 106,977.29 0.02
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II NEXT INTEREST ADJUSTMENT DATE
Date Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
12/2000 1 155,746.83 0.02
01/2001 1 51,674.37 0.01
02/2001 1 73,889.00 0.01
03/2001 1 41,889.32 0.01
04/2001 1 127,615.06 0.02
06/2001 1 129,146.00 0.02
08/2001 1 45,659.87 0.01
11/2001 1 48,800.00 0.01
01/2002 3 197,521.39 0.03
03/2002 1 27,980.01 0.00
04/2002 5 557,615.76 0.08
05/2002 11 1,332,469.40 0.20
06/2002 36 4,154,371.13 0.61
07/2002 168 16,791,874.82 2.47
08/2002 541 59,979,454.66 8.83
09/2002 1,583 181,796,479.10 26.76
10/2002 1,409 160,957,043.57 23.70
11/2002 391 40,859,832.46 6.02
12/2002 14 1,456,515.76 0.21
02/2003 1 53,145.00 0.01
03/2003 4 190,271.97 0.03
04/2003 2 435,562.35 0.06
05/2003 7 560,522.34 0.08
06/2003 25 2,547,677.31 0.38
07/2003 53 5,248,037.17 0.77
08/2003 255 28,774,805.88 4.24
09/2003 802 83,442,037.54 12.28
10/2003 637 72,942,502.99 10.74
11/2003 162 15,161,179.68 2.23
12/2003 11 1,092,800.00 0.16
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II MONTHS TO NEXT ADJUSTMENT DATE
Months Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
1 - 12 8 674,420.45 0.10
13 - 24 4,148 466,654,642.30 68.70
25 - 36 1,962 210,812,257.99 31.04
37 - 37 11 1,092,800.00 0.16
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II INDEX
Index Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
1-Year Treasury 6 904,765.73 0.13
6-Month LIBOR 6,123 678,329,355.01 99.87
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II COMBINED ORIGINAL LOAN-TO-VALUE RATIOS
Original LTV (%) Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
15.01 - 20.00 3 174,923.95 0.03
20.01 - 25.00 10 792,594.64 0.12
25.01 - 30.00 10 468,250.85 0.07
30.01 - 35.00 16 999,585.98 0.15
35.01 - 40.00 25 1,441,728.97 0.21
40.01 - 45.00 29 2,400,888.41 0.35
45.01 - 50.00 54 4,034,790.73 0.59
50.01 - 55.00 59 5,488,262.55 0.81
55.01 - 60.00 114 10,206,789.01 1.50
60.01 - 65.00 182 17,040,412.47 2.51
65.01 - 70.00 339 31,255,918.05 4.60
70.01 - 75.00 710 73,170,497.92 10.77
75.01 - 80.00 1,834 208,429,752.00 30.69
80.01 - 85.00 1,367 155,134,655.15 22.84
85.01 - 90.00 1,187 144,006,582.49 21.20
90.01 - 95.00 190 24,188,487.57 3.56
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II LIEN POSITION
Position Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
1st Lien 6,129 679,234,120.74 100.00
2nd Lien 0 0.00 0.00
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II OWNER OCCUPANCY
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Owner occupied 5,775 652,696,712.86 96.09
Non-owner occupied 354 26,537,407.88 3.91
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II DOCUMENTATION TYPE
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Full Documentation 5,476 594,638,239.26 87.55
Reduced Documentation 653 84,595,881.48 12.45
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II LOAN PURPOSE
Purpose Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Purchase 2,987 349,084,237.78 51.40
Equity Refinance 2,721 280,813,300.09 41.34
Rate/Term Refinance 421 49,336,582.87 7.26
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II CREDIT GRADE
Grade Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
1-A-1 699 92,563,666.97 13.63
1-A 1,302 151,291,201.56 22.27
1 1,655 192,240,003.90 28.30
2 1,848 187,036,594.03 27.54
3 488 44,616,056.45 6.57
4 137 11,486,597.83 1.69
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II FICO SCORE
Score Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
421 - 440 3 114,036.00 0.02
441 - 460 6 316,847.23 0.05
461 - 480 38 3,859,922.13 0.57
481 - 500 109 11,214,795.78 1.65
501 - 520 407 40,129,406.36 5.91
521 - 540 668 73,019,157.51 10.75
541 - 560 827 86,633,059.10 12.75
561 - 580 930 99,581,035.97 14.66
581 - 600 858 96,663,561.61 14.23
601 - 620 782 92,984,527.72 13.69
621 - 640 586 67,325,976.01 9.91
641 - 660 349 41,669,826.92 6.13
661 - 680 219 27,986,317.83 4.12
681 - 700 126 15,605,048.28 2.30
701 - 720 64 7,398,298.04 1.09
721 - 740 45 5,167,154.78 0.76
741 - 760 27 3,086,015.17 0.45
761 - 780 12 1,286,959.06 0.19
781 - 800 3 278,373.68 0.04
801 - 820 4 447,389.74 0.07
Unavailable 66 4,466,411.82 0.66
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II PREPAYMENT PENALTIES
Penalty Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
No 625 70,229,568.53 10.34
Yes 5,504 609,004,552.21 89.66
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II AMORTIZATION TYPE
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Fully Amortizing 6,129 679,234,120.74 100.00
Balloon 0 0.00 0.00
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II PROPERTY TYPE
Type Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Attached PUD 68 8,736,180.90 1.29
Condo over 8 stories 4 214,342.47 0.03
Condo under 5 stories 175 17,753,789.74 2.61
Detached PUD 478 77,492,292.89 11.41
Leasehold 1 161,870.66 0.02
Manufactured Home 69 4,799,072.28 0.71
Mid-rise condo (5-8 stories) 5 656,827.36 0.10
Single Family (detached) 5,273 564,573,683.20 83.12
Townhouse/Rowhouse 56 4,846,061.24 0.71
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
<PAGE>
RASC Series 2000-KS5
Home Equity Asset-Backed Pass-Through Certificates, Series 2000-KS5
$1,350,000,000 (Approximate)
--------------------------------------------------------------------------------
GROUP II GEOGRAPHIC DISTRIBUTION
Location Mortgage Cut-off Date % of Cut-off Date
Loans Principal Balance ($) Principal Balance
-------------------------------- ---------------- --------------------------- ---------------------
Alabama 83 6,484,698.10 0.95
Alaska 4 540,402.61 0.08
Arizona 206 23,128,043.57 3.41
Arkansas 29 2,419,410.04 0.36
California 572 106,039,142.53 15.61
Colorado 163 23,358,630.54 3.44
Connecticut 60 7,513,834.38 1.11
Delaware 9 1,240,791.79 0.18
District of Columbia 5 640,175.85 0.09
Florida 302 31,528,377.37 4.64
Georgia 320 38,027,746.35 5.60
Hawaii 5 800,960.84 0.12
Idaho 36 3,429,289.69 0.50
Illinois 355 37,552,071.92 5.53
Indiana 200 14,188,626.54 2.09
Iowa 71 4,535,460.04 0.67
Kansas 51 4,043,948.86 0.60
Kentucky 65 5,091,387.99 0.75
Louisiana 50 4,433,123.57 0.65
Maine 13 1,076,225.15 0.16
Maryland 88 12,456,690.15 1.83
Massachusetts 80 12,477,245.69 1.84
Michigan 486 43,751,236.75 6.44
Minnesota 132 13,077,272.57 1.93
Mississippi 34 2,524,906.80 0.37
Missouri 151 12,407,212.75 1.83
Montana 6 847,765.49 0.12
Nebraska 16 1,195,504.67 0.18
Nevada 81 10,036,312.55 1.48
New Hampshire 20 2,241,899.66 0.33
New Jersey 72 10,072,288.91 1.48
New Mexico 56 5,448,310.46 0.80
New York 97 11,391,532.74 1.68
North Carolina 166 16,234,241.42 2.39
North Dakota 6 375,087.60 0.06
Ohio 363 29,200,032.34 4.30
Oklahoma 51 4,339,029.02 0.64
Oregon 93 11,643,492.96 1.71
Pennsylvania 115 9,233,606.00 1.36
Rhode Island 22 2,333,452.26 0.34
South Carolina 87 8,065,499.13 1.19
South Dakota 7 588,557.46 0.09
Tennessee 164 14,695,084.82 2.16
Texas 539 61,554,736.49 9.06
Utah 108 13,921,452.47 2.05
Vermont 9 712,233.09 0.10
Virginia 95 10,832,046.21 1.59
Washington 143 20,748,444.40 3.05
West Virginia 16 1,342,733.59 0.20
Wisconsin 223 19,169,956.68 2.82
Wyoming 4 243,907.88 0.04
Total: 6,129 679,234,120.74 100.00
-------------------------------- ---------------- --------------------------- ---------------------
</TABLE>
--------
(2) Excludes 45 loans missing FICO scores.
(3) Other states account individually for less than 5% of the pool balance.
(2) Excludes 66 loans missing FICO scores.
(3) Other states account individually for less than 5% of the pool balance.
<PAGE>
