<PAGE>
____________________________________
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
November 24, 1997
EquiVantage Acceptance Corp. on behalf of EquiVantage
Home Equity Loan Trust 1997-4
------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
Delaware 333-22343 76-0448074
-------- --------- ----------
(State of Incorporation) (Commission (I.R.S. Employer
File Number) Identification No.)
13111 Northwest Freeway, Suite 301, Houston, Texas 77040
----------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (713) 895-1957
No Change
--------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
____________________________________
<PAGE>
Item 5. Other Events.(1)
Attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current
Report are (i) Preliminary Structural Term Sheets, Preliminary Collateral
Term Sheets and Preliminary Computational Materials (collectively, the
"Preliminary Computational Materials") and (ii) Final Structural Term Sheets,
Final Collateral Term Sheets and Final Computational Materials (collectively,
the "Final Computational Materials" and, together with the Preliminary
Computational Materials, the "Computational Materials") furnished to the
Registrant by Prudential Securities Incorporated, as representative of the
underwriters (together, the "Underwriters"), in respect of the
EquiVantage Home Equity Loan Trust 1997-4 Home Equity Loan Asset-Backed
Certificates, Series 1997-4, Class A-1, Class A-2, Class A-3, Class A-4 and
Class A-5 (the "Certificates"). The Certificates will be offered pursuant to
a Prospectus, to be dated on or about November 25, 1997, as supplemented by a
Prospectus Supplement, to be dated on or about November 25, 1997 (the
Prospectus Supplement and the Prospectus are collectively referred to herein
as the "Prospectus"), both to be filed with the Commission pursuant to Rule
424(b)(2) under the Securities Act of 1933, as amended (the "Act"). The
Certificates have been registered pursuant to the Act under a Registration
Statement on Form S-3 (File No. 333-22343) (the "Registration Statement").
The Computational Materials were prepared solely by the Underwriters,
and the Registrant did not prepare or participate (other than providing to
the Underwriters the background information concerning the underlying pool of
assets upon which the Computational Materials are based) in the preparation
of the Computational Materials.
Any statements or information contained in the Computational Materials
shall be deemed to be modified or superseded for purposes of the Prospectus
and the Registration Statement by statements or information contained in the
Prospectus.
Item 7. Financial Statements: Pro Forma Financial Information and
Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Preliminary Computational Materials
99.2 Final Computational Materials
______________________
(1) Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed to such terms in the Prospectus.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
EQUIVANTAGE ACCEPTANCE CORP.
By: /s/ Elizabeth Folk
--------------------------------
Elizabeth Folk
Senior Vice President
Date: November 25, 1997
<PAGE>
EXHIBIT INDEX
-------------
Exhibit
-------
99.1 Preliminary Computational Materials of the Underwriters
99.2 Final Computational Materials of the Underwriters
<PAGE>
EXHIBIT 99.1
MARKETING MEMORANDUM FOR
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
The analysis in this report is accurate to the best of PSI's knowledge and is
based on information provided by the Equivantage Acceptance Corp. PSI makes no
representations as to the accuracy of such information provided to it by the
Sponsor. 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>
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
PRELIMINARY MARKETING MEMO
<TABLE>
<S> <C> <C> <C> <C> <C>
Company and
Servicer:............. EquiVantage Inc.
Collateral:............ The collateral consists of fixed-rate and variable-rate home equity loans.
Aggregate Fixed Rate Group $ [71,695,460]
Group Balance......... Variable Rate Group $ [30,000,000]
<CAPTION>
CLASS A-1(1) CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5 (2)
------------- ---------- ---------- ---------- --------------------------
S> <C> <C> <C> <C> <C>
Certificate Type:...... Floater Sequential Sequential NAS Floater
Approximate Size:...... [$29,380,000] [$21,000,000] [$14,000,000] [$7,000,000] [$28,620,000]
Pricing Speed:......... [24% HEP] [24% HEP] [24% HEP] [24% HEP] [25% CPR]
Average Life
(to call):........... [1.06 years] [3.00] [6.65] [6.35] [2.94]
(to maturity):....... [1.06 years] [3.00] [7.71] [6.50] [3.14]
Coupon:................ [ TBD%] [ TBD%] [ TBD%] [ TBD%] [ TBD%] The lesser of:
1) One Month LIBOR + [TBD]bps
2) The Available Funds Cap
Step-Up Coupon after
Call Date:............ [N/A] [N/A] [TBD + 0.50%] [TBD + 0.50%] [LIBOR 1M + 2xTBD bps]
Yield (CBE):........... [ TBD%] [ TBD%] [ TBD%] [ TBD%] [ TBD%]
Payment Delay:......... No Delay 24 days 24 days 24 days No Delay
Day Count:............. Actual/360 30/360 30/360 30/360 Actual/360
Dated Date:............ 12/15/97 12/01/97 12/01/97 12/01/97 12/15/97
Expected Maturity
(to call):........... [11/25/99] [05/25/02] [02/25/06] [02/25/06] [02/25/06]
(to maturity):....... [11/25/99] [05/25/02] [11/25/12] [11/25/12] [05/25/13]
Stated Maturity:....... [11/25/12] [06/25/19] [12/25/28] [12/25/28] [12/25/27]
Pricing Date:.......... [11/25/97] [11/25/97] [11/25/97] [11/25/97] [11/25/97]
Settlement Date:....... [12/15/97] [12/15/97] [12/15/97] [12/15/97] [12/15/97]
</TABLE>
- ------------------------
(1) Subject to group 1 fixed rate net wac cap as defined below.
(2) Subject to group 2 available funds cap as defined below.
<TABLE>
<S> <C>
Servicing Fee: 50 basis points per annum for first lien loans and
75 basis points per annum for second lien loans.
Trustee: [Norwest Bank Minnesota, National Association]
Certificate Ratings: The Certificates will be rated AAA/Aaa by Standard & Poor's and
Moody's.
Certificate Insurer: [Financial Guaranty Insurance Company ("FGIC"). FGIC's claims-paying
ability is rated AAA/Aaa/AAA by Standard and Poor's, Moody's and
Fitch].
Certificate Insurance: Timely payments of interest and eventual principal on the
Certificates will be 100% guaranteed by FGIC.
Credit Enhancement: 1) 100% wrap from FGIC guaranteeing timely payment of interest and
eventual principal.
2) Overcollateralization.
3) Excess monthly cash flow
</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>
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
PRELIMINARY MARKETING MEMO
<TABLE>
<S> <C>
[10%] Clean-up Call: The Residual Holder has the right to purchase the mortgage
loans from the Trust when the outstanding aggregate
principal balance of the mortgage loans has declined to 10%
or less of the initial aggregate principal balance of the
mortgage loans. If such option is not excercised, the
Servicer will then have such option. The option to purchase
the mortgage loans is at par plus accrued interest for both
the Residual Holder and the Servicer.
[Coupon Step-Up: If the Clean-Up Call is not exercised, the coupon on the
Class A-3 and A-4 Certificates will increase by 0.50%, and
the Coupon on the Class A-5 will be the lesser of: 1) One
Month LIBOR + 2x [] bps; and 2) The Available Funds Cap.]
NAS Certificate: Non-Accelerated Senior ("NAS") Certificate is locked outfrom
receiving principal payments for the first 36 months of the
transaction and then it receives an increasing percentage of
its pro rata principal distribution according to the
following schedule:
</TABLE>
<TABLE>
<CAPTION>
MONTHS % OF PRO RATA PRINCIPAL
-------------------- -----------------------
<S> <C>
0- 36 [0%]
37- 60 [45%]
61- 72 [80%]
73- 84 [100%]
85-480 [300%]
</TABLE>
<TABLE>
<S> <C>
Interest Accrual Period: Interest will accrue from the 1st day of the preceeding
month until the 30th day of the preceeding month for the
Fixed-Rate Certificates.
Interest will accrue on the Variable-Rate Certificates from
Payment Date to Payment Date. For the first Payment Date,
interest will accrue from the Closing Date to the first
Payment Date.
Prepayment Assumption: For the Fixed-Rate Group Certificates, [24]% HEP ([2.4]% CPR
in month 1 with monthly incremental increases of [2.4]% CPR
until the speed reaches [24]% CPR in month 10 based on loan
seasoning.)
For the Class A-5 Variable-Rate Group Certificates, [25]%
CPR.
Fixed Rate Net WAC Cap: The Fixed Rate Net WAC Cap is a rate equal to the weighted
average gross coupon rate less i) the servicing fee and ii)
the master servicing fee.
[Available Funds Cap: The Available Funds Cap is the per annum rate equal to the
percentage obtained by (I) dividing (x) the amount of
interest that accrued on the Mortgage Loans in the
Adjustable Rate Group in respect of the related interest
period at the weighted average of the
Mortgage Rates, reduced by the sum of (i)the Adjustable-Rate
Group Servicing Fee, (ii) the premiums due to the
Certificate Insurer with respect to the Certificate
Insurance Policy relating to the Class A-5 Certificates, and
(iii) in the case of each Distribution Date occuring after
the Distribution Date in May, 1998, an amount equal to
one-twelth of 75 basis points multiplied by the aggregate
principal balance of the Adjustable- Rate Mortgage Loans as
of the first day of such Interest Period, by (y) the product
of of (i) the Class A-5 Certificate Principal Balance as of
the first day of such Interest Period and (ii) the actual
number of days elapsed during such Interest Period divided
by 360, and (II) multiplying the result by 100.]
Interest Carry-Forward: The Class A-5 Certificates will have an interest carry-
forward feature. The excess of the interest accrued on the
Class A-5 Certificates over the amount of interest actually
distributed will be paid on future Remittance Dates to the
extent of Class A-5 Available funds prior to distributing
any Excess Spread to the holder of the Class R Certificate.
The interest carry-forward Amount will accrue interest at
the Class A-5 Certificate Rate. No interest carry- forward
will be paid once its principal balance has been reduced to
zero. The Interest carry-forward Amount is not guaranteed by
FGIC.
Payment Date: The 25th day of each month or, if such day is not a business
day, the next succeeding business day, beginning on January
25, 1997.
</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>
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
PRELIMINARY MARKETING MEMO
<TABLE>
<S> <C>
Record Date: The last day of the calendar month immediately preceding the
related payment date.
Cut-Off Date: [12/1/97]
SMMEA: The Fixed-Rate Certificates WILL NOT constitute "mortgage
related securities" for purposes of SMMEA.
The Variable-Rate Certificates WILL constitute "mortgage
related securities" for purposes of SMMEA.
ERISA Considerations: The Certificates will be ERISA eligible. However, investors
should consult with their counsel with respect to the
consequences under ERISA and the Internal Revenue Code of
the Plan's acquisition and ownership of such certificates.
Taxation: REMIC.
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 foregoing is qualified in its entirety by
the information appearing in the Prospectus. To the extent
that the foregoing 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.
Further Information: Call the desk at (212) 778-2741, Mike Corddry at (212)
778-2840, Paul Richardson at (212) 778-1907, or Greg Bloom
(212) 778-2998 with any questions.
</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>
Projected Available Funds Cap (for the first 5 years at pricing speed)
Representing Actual/360 Day Count:
<TABLE>
<CAPTION>
PAYMENT INTEREST
DATE CAP
- --------- -----------
<C> <C> <S>
01/25/98 6.90%* [Available Funds Cap: The Available Funds Cap is the per annum rate equal to the percentage
02/25/98 9.15% obtained by (I) dividing (x) the amount of interest that accrued on the Mortgage Loans in the
03/25/98 10.18% Adjustable Rate Group in respect of the related interest period at the weighted average of
04/25/98 9.24% the Mortgage Rates, reduced by the sum of (i)the Adjustable-Rate Group Servicing Fee, (ii)
05/25/98 9.59% the premiums due to the Certificate Insurer with respect to the Certificate Insurance Policy
06/25/98 8.55% relating to the Class A-5 Certificates, and (iii) in the case of each Distribution Date
07/25/98 9.13% occuring after the Distribution Date in May, 1998, an amount equal to one-twelth of 75 basis
08/25/98 8.88% points multiplied by the aggregate principal balance of the Adjustable-Rate Mortgage Loans as
09/25/98 8.93% of the first day of such Interest Period, by (y) the product of (i) the Class A-5 Certificate
10/25/98 9.27% Principal Balance as of the first day of such Interest Period and (ii) the actual number of
11/25/98 8.99% days elapsed during such Interest Period divided by 360, and (II) multiplying the result by
12/25/98 9.32% 100.]
01/25/99 9.29%
02/25/99 9.31%
03/25/99 10.34%
04/25/99 9.36%
05/25/99 9.70%
06/25/99 9.41%
07/25/99 9.77%
08/25/99 9.49%
09/25/99 9.52%
10/25/99 9.92%
11/25/99 10.04%
12/25/99 10.93%
01/25/00 10.91%
02/25/00 10.95%
03/25/00 11.75%
04/25/00 11.07%
05/25/00 11.88%
06/25/00 11.73%
07/25/00 12.18%
08/25/00 11.84%
09/25/00 11.89%
10/25/00 12.34%
11/25/00 11.94%
12/25/00 12.34%
01/25/01 11.94%
02/25/01 11.94%
03/25/01 13.22%
04/25/01 11.94%
05/25/01 12.34%
06/25/01 11.94%
07/25/01 12.34%
08/25/01 11.94%
09/25/01 11.94%
10/25/01 12.34%
11/25/01 11.94%
12/25/01 12.34%
01/25/02 11.94%
02/25/02 11.94%
03/25/02 13.22%
04/25/02 11.94%
05/25/02 12.34%
06/25/02 11.94%
07/25/02 12.34%
08/25/02 11.94%
09/25/02 11.94%
10/25/02 12.34%
11/25/02 11.94%
12/25/02 12.34%
</TABLE>
- ------------------------
* 41 days of accrued interested in the first period.
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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $29,380,000.00
CURRENT COUPON: 5.838% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $29,380,000.00 BOND A1 BOND EQUIVALENT YIELD TABLE
**** TO 10% COLLATERAL CALL ****
<TABLE>
<CAPTION>
PRICE
- -----
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 6.238 6.034 6.149 6.269 6.310 6.367
99-24+ 6.222 6.031 6.139 6.252 6.290 6.343
99-25 6.207 6.029 6.129 6.234 6.269 6.319
99-25+ 6.191 6.026 6.119 6.216 6.249 6.295
99-26 6.175 6.024 6.109 6.198 6.228 6.271
99-26+ 6.159 6.022 6.099 6.180 6.208 6.247
99-27 6.143 6.019 6.089 6.162 6.188 6.223
99-27+ 6.128 6.017 6.080 6.145 6.167 6.199
99-28 6.112 6.014 6.070 6.127 6.147 6.175
99-28+ 6.096 6.012 6.060 6.109 6.127 6.151
99-29 6.080 6.010 6.050 6.091 6.107 6.127
99-29+ 6.065 6.007 6.040 6.073 6.086 6.103
99-30 6.049 6.005 6.030 6.055 6.066 6.079
99-30+ 6.033 6.002 6.021 6.038 6.046 6.055
99-31 6.017 6.000 6.011 6.020 6.025 6.031
99-31+ 6.002 5.998 6.001 6.002 6.005 6.007
100-00 5.986 5.995 5.991 5.984 5.985 5.983
100-00+ 5.970 5.993 5.981 5.966 5.965 5.959
100-01 5.954 5.991 5.971 5.949 5.944 5.935
100-01+ 5.939 5.988 5.962 5.931 5.924 5.911
100-02 5.923 5.986 5.952 5.913 5.904 5.887
100-02+ 5.907 5.983 5.942 5.895 5.884 5.863
100-03 5.891 5.981 5.932 5.878 5.863 5.839
100-03+ 5.876 5.979 5.922 5.860 5.843 5.815
100-04 5.860 5.976 5.913 5.842 5.823 5.791
100-04+ 5.844 5.974 5.903 5.824 5.803 5.767
100-05 5.829 5.971 5.893 5.807 5.782 5.744
100-05+ 5.813 5.969 5.883 5.789 5.762 5.720
100-06 5.797 5.967 5.873 5.771 5.742 5.696
100-06+ 5.781 5.964 5.864 5.753 5.722 5.672
100-07 5.766 5.962 5.854 5.736 5.702 5.648
100-07+ 5.750 5.960 5.844 5.718 5.681 5.624
First Payment 0.111 0.111 0.111 0.111 0.111 0.111
Average Life 1.059 9.399 1.747 0.932 0.814 0.685
Last Payment 1.944 14.944 3.694 1.694 1.361 1.111
Mod. Dur. @ 100-00 0.992 6.543 1.591 0.878 0.771 0.652
</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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $21,000,000.00
COUPON: 6.645% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $21,000,000.00 BOND A2 BE-YIELD TABLE
**** TO 10% COLLATERAL CALL ****
<TABLE>
<CAPTION>
PRICE
- -----
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 6.665 6.717 6.698 6.651 6.632 6.601
99-24+ 6.659 6.716 6.695 6.644 6.624 6.590
99-25 6.653 6.714 6.691 6.637 6.615 6.579
99-25+ 6.647 6.713 6.688 6.630 6.607 6.568
99-26 6.641 6.711 6.685 6.623 6.598 6.556
99-26+ 6.635 6.709 6.682 6.616 6.590 6.545
99-27 6.629 6.708 6.678 6.609 6.581 6.534
99-27+ 6.623 6.706 6.675 6.602 6.572 6.523
99-28 6.617 6.704 6.672 6.595 6.564 6.512
99-28+ 6.611 6.703 6.669 6.588 6.555 6.501
99-29 6.605 6.701 6.665 6.581 6.547 6.490
99-29+ 6.599 6.699 6.662 6.574 6.538 6.479
99-30 6.593 6.698 6.659 6.566 6.530 6.468
99-30+ 6.588 6.696 6.656 6.559 6.521 6.457
99-31 6.582 6.695 6.653 6.552 6.513 6.446
99-31+ 6.576 6.693 6.649 6.545 6.504 6.435
100-00 6.570 6.691 6.646 6.538 6.496 6.424
100-00+ 6.564 6.690 6.643 6.531 6.487 6.412
100-01 6.558 6.688 6.640 6.524 6.479 6.401
100-01+ 6.552 6.686 6.636 6.517 6.470 6.390
100-02 6.546 6.685 6.633 6.510 6.462 6.379
100-02+ 6.540 6.683 6.630 6.503 6.453 6.368
100-03 6.534 6.681 6.627 6.496 6.445 6.357
100-03+ 6.528 6.680 6.624 6.489 6.436 6.346
100-04 6.523 6.678 6.620 6.482 6.428 6.335
100-04+ 6.517 6.677 6.617 6.475 6.419 6.324
100-05 6.511 6.675 6.614 6.468 6.411 6.313
100-05+ 6.505 6.673 6.611 6.461 6.402 6.302
100-06 6.499 6.672 6.607 6.454 6.394 6.291
100-06+ 6.493 6.670 6.604 6.447 6.385 6.280
100-07 6.487 6.668 6.601 6.440 6.377 6.269
100-07+ 6.481 6.667 6.598 6.433 6.368 6.258
First Payment 1.944 14.944 3.694 1.694 1.361 1.111
Average Life 3.001 15.871 6.128 2.483 2.012 1.523
Last Payment 4.444 20.194 10.194 3.611 2.778 2.028
Mod.Dur. @ 100-00 2.636 9.532 4.832 2.221 1.829 1.409
</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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $14,000,000.00
COUPON: 7.045% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $14,000,000.00 BOND A3 BE-YIELD TABLE
**** TO 10% COLLATERAL CALL ****
<TABLE>
<CAPTION>
PRICE
- -----
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 7.106 7.130 7.123 7.100 7.084 7.059
99-24+ 7.103 7.129 7.121 7.097 7.079 7.053
99-25 7.100 7.127 7.120 7.094 7.075 7.047
99-25+ 7.097 7.126 7.118 7.090 7.070 7.040
99-26 7.094 7.125 7.116 7.087 7.065 7.034
99-26+ 7.091 7.123 7.114 7.083 7.061 7.027
99-27 7.088 7.122 7.112 7.080 7.056 7.021
99-27+ 7.085 7.121 7.110 7.076 7.052 7.015
99-28 7.082 7.119 7.109 7.073 7.047 7.008
99-28+ 7.079 7.118 7.107 7.069 7.042 7.002
99-29 7.076 7.117 7.105 7.066 7.038 6.995
99-29+ 7.073 7.115 7.103 7.062 7.033 6.989
99-30 7.070 7.114 7.101 7.059 7.028 6.983
99-30+ 7.067 7.113 7.099 7.055 7.024 6.976
99-31 7.064 7.111 7.097 7.052 7.019 6.970
99-31+ 7.061 7.110 7.096 7.048 7.015 6.963
100-00 7.058 7.108 7.094 7.045 7.010 6.957
100-00+ 7.054 7.107 7.092 7.042 7.005 6.951
100-01 7.051 7.106 7.090 7.038 7.001 6.944
100-01+ 7.048 7.104 7.088 7.035 6.996 6.938
100-02 7.045 7.103 7.086 7.031 6.991 6.931
100-02+ 7.042 7.102 7.085 7.028 6.987 6.925
100-03 7.039 7.100 7.083 7.024 6.982 6.919
100-03+ 7.036 7.099 7.081 7.021 6.977 6.912
100-04 7.033 7.098 7.079 7.017 6.973 6.906
100-04+ 7.030 7.096 7.077 7.014 6.968 6.900
100-05 7.027 7.095 7.075 7.010 6.964 6.893
100-05+ 7.024 7.094 7.074 7.007 6.959 6.887
100-06 7.021 7.092 7.072 7.003 6.954 6.880
100-06+ 7.018 7.091 7.070 7.000 6.950 6.874
100-07 7.015 7.090 7.068 6.997 6.945 6.868
100-07+ 7.012 7.088 7.066 6.993 6.941 6.861
First Payment 4.444 20.194 10.194 3.611 2.778 2.028
Average Life 6.647 25.960 13.568 5.716 3.994 2.772
Last Payment 8.194 28.028 14.944 8.861 5.194 3.694
Mod.Dur. @ 100-00 5.116 11.515 8.466 4.500 3.366 2.440
</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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $7,000,000.00
COUPON: 6.720% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $7,000,000.00 BOND A4 BE-YIELD TABLE
**** TO 10% COLLATERAL CALL ****
<TABLE>
<CAPTION>
PRICE
----------
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP)........... 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR)........... 25.00 0.00 10.00 15.00 40.00 50.00
99-24............... 6.775 6.790 6.781 6.774 6.765 6.752
99-24+.............. 6.772 6.788 6.778 6.771 6.761 6.747
99-25............... 6.769 6.786 6.775 6.768 6.757 6.742
99-25+.............. 6.766 6.784 6.773 6.764 6.753 6.737
99-26............... 6.763 6.782 6.770 6.761 6.749 6.732
99-26+.............. 6.759 6.780 6.767 6.758 6.745 6.727
99-27............... 6.756 6.778 6.765 6.755 6.741 6.722
99-27+.............. 6.753 6.776 6.762 6.751 6.738 6.717
99-28............... 6.750 6.774 6.759 6.748 6.734 6.712
99-28+.............. 6.747 6.772 6.756 6.745 6.730 6.707
99-29............... 6.744 6.770 6.754 6.742 6.726 6.702
99-29+.............. 6.741 6.768 6.751 6.739 6.722 6.697
99-30............... 6.737 6.766 6.748 6.735 6.718 6.692
99-30+.............. 6.734 6.764 6.746 6.732 6.714 6.687
99-31............... 6.731 6.762 6.743 6.729 6.710 6.682
99-31+.............. 6.728 6.760 6.740 6.726 6.706 6.677
100-00.............. 6.725 6.759 6.738 6.722 6.702 6.672
100-00+............. 6.722 6.757 6.735 6.719 6.698 6.667
100-01.............. 6.719 6.755 6.732 6.716 6.694 6.662
100-01+............. 6.716 6.753 6.730 6.713 6.690 6.657
100-02.............. 6.712 6.751 6.727 6.710 6.687 6.653
100-02+............. 6.709 6.749 6.724 6.706 6.683 6.648
100-03.............. 6.706 6.747 6.721 6.703 6.679 6.643
100-03+............. 6.703 6.745 6.719 6.700 6.675 6.638
100-04.............. 6.700 6.743 6.716 6.697 6.671 6.633
100-04+............. 6.697 6.741 6.713 6.694 6.667 6.628
100-05.............. 6.694 6.739 6.711 6.690 6.663 6.623
100-05+............. 6.691 6.737 6.708 6.687 6.659 6.618
100-06.............. 6.687 6.735 6.705 6.684 6.655 6.613
100-06+............. 6.684 6.733 6.703 6.681 6.651 6.608
100-07.............. 6.681 6.731 6.700 6.678 6.647 6.603
100-07+............. 6.678 6.729 6.697 6.674 6.644 6.598
First Payment....... 3.111 3.111 3.111 3.111 3.111 3.111
Average Life........ 6.352 12.152 7.801 6.152 4.790 3.640
Last Payment........ 8.194 14.944 14.944 8.861 5.194 3.694
Mod.Dur. @ 100-00... 4.979 7.954 5.797 4.848 3.975 3.141
</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>
FINANCIAL STRATEGIES GROUP
- ---------------------------
CURRENT BALANCE: $28,620,000.00
CURRENT COUPON: 5.928% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $28,620,000.00 BOND A5 BOND EQUIVALENT YIELD TABLE
**** TO 10% COLLATERAL CALL ****
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
PRICE
FIX:(HEP)............................................ 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR)............................................ 25.00 0.00 10.00 15.00 40.00 50.00
99-24................................................ 6.188 6.112 6.139 6.159 6.247 6.297
99-24+............................................... 6.182 6.110 6.136 6.154 6.237 6.284
99-25................................................ 6.176 6.109 6.133 6.150 6.227 6.270
99-25+............................................... 6.169 6.107 6.130 6.145 6.216 6.257
99-26................................................ 6.163 6.106 6.126 6.141 6.206 6.243
99-26+............................................... 6.157 6.105 6.123 6.137 6.196 6.230
99-27................................................ 6.150 6.103 6.120 6.132 6.186 6.216
99-27+............................................... 6.144 6.102 6.117 6.128 6.176 6.203
99-28................................................ 6.138 6.100 6.114 6.123 6.166 6.190
99-28+............................................... 6.131 6.099 6.111 6.119 6.156 6.176
99-29................................................ 6.125 6.098 6.107 6.114 6.146 6.163
99-29+............................................... 6.119 6.096 6.104 6.110 6.135 6.149
99-30................................................ 6.112 6.095 6.101 6.105 6.125 6.136
99-30+............................................... 6.106 6.093 6.098 6.101 6.115 6.122
99-31................................................ 6.100 6.092 6.095 6.096 6.105 6.109
99-31+............................................... 6.093 6.091 6.092 6.092 6.095 6.096
100-00................................................ 6.087 6.089 6.088 6.087 6.085 6.082
100-00+............................................... 6.081 6.088 6.085 6.083 6.075 6.069
100-01................................................ 6.074 6.086 6.082 6.079 6.065 6.055
100-01+............................................... 6.068 6.085 6.079 6.074 6.055 6.042
100-02................................................ 6.062 6.084 6.076 6.070 6.044 6.029
100-02+............................................... 6.055 6.082 6.073 6.065 6.034 6.015
100-03................................................ 6.049 6.081 6.069 6.061 6.024 6.002
100-03+............................................... 6.043 6.079 6.066 6.056 6.014 5.989
100-04................................................ 6.037 6.078 6.063 6.052 6.004 5.975
100-04+............................................... 6.030 6.077 6.060 6.047 5.994 5.962
100-05................................................ 6.024 6.075 6.057 6.043 5.984 5.948
100-05+............................................... 6.018 6.074 6.054 6.039 5.974 5.935
100-06................................................ 6.011 6.072 6.051 6.034 5.964 5.922
100-06+............................................... 6.005 6.071 6.047 6.030 5.954 5.908
100-07................................................ 5.999 6.070 6.044 6.025 5.944 5.895
100-07+............................................... 5.993 6.068 6.041 6.021 5.934 5.882
First Payment.......................................... 0.111 0.111 0.111 0.111 0.111 0.111
Average Life........................................... 2.937 21.219 6.788 4.346 1.734 1.277
Last Payment........................................... 8.194 28.028 14.944 8.861 5.194 3.694
Mod.Dur. @ 100-00...................................... 2.475 11.142 4.936 3.509 1.546 1.166
</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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $29,380,000.00
CURRENT COUPON: 5.838% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $29,380,000.00 BOND A1 BOND EQUIVALENT YIELD TABLE
**** TO MATURITY ****
<TABLE>
<CAPTION>
PRICE
----------
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP)........... 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR)........... 25.00 0.00 10.00 15.00 40.00 50.00
99-24.............. 6.238 6.034 6.149 6.269 6.310 6.367
99-24+............. 6.222 6.031 6.139 6.252 6.290 6.343
99-25.............. 6.207 6.029 6.129 6.234 6.269 6.319
99-25+............. 6.191 6.026 6.119 6.216 6.249 6.295
99-26.............. 6.175 6.024 6.109 6.198 6.228 6.271
99-26+............. 6.159 6.022 6.099 6.180 6.208 6.247
99-27.............. 6.143 6.019 6.089 6.162 6.188 6.223
99-27+............. 6.128 6.017 6.080 6.145 6.167 6.199
99-28.............. 6.112 6.014 6.070 6.127 6.147 6.175
99-28+............. 6.096 6.012 6.060 6.109 6.127 6.151
99-29.............. 6.080 6.010 6.050 6.091 6.107 6.127
99-29+............. 6.065 6.007 6.040 6.073 6.086 6.103
99-30.............. 6.049 6.005 6.030 6.055 6.066 6.079
99-30+............. 6.033 6.002 6.021 6.038 6.046 6.055
99-31.............. 6.017 6.000 6.011 6.020 6.025 6.031
99-31+............. 6.002 5.998 6.001 6.002 6.005 6.007
100-00.............. 5.986 5.995 5.991 5.984 5.985 5.983
100-00+............. 5.970 5.993 5.981 5.966 5.965 5.959
100-01.............. 5.954 5.991 5.971 5.949 5.944 5.935
100-01+............. 5.939 5.988 5.962 5.931 5.924 5.911
100-02.............. 5.923 5.986 5.952 5.913 5.904 5.887
100-02+............. 5.907 5.983 5.942 5.895 5.884 5.863
100-03.............. 5.891 5.981 5.932 5.878 5.863 5.839
100-03+............. 5.876 5.979 5.922 5.860 5.843 5.815
100-04.............. 5.860 5.976 5.913 5.842 5.823 5.791
100-04+............. 5.844 5.974 5.903 5.824 5.803 5.767
100-05.............. 5.829 5.971 5.893 5.807 5.782 5.744
100-05+............. 5.813 5.969 5.883 5.789 5.762 5.720
100-06.............. 5.797 5.967 5.873 5.771 5.742 5.696
100-06+............. 5.781 5.964 5.864 5.753 5.722 5.672
100-07.............. 5.766 5.962 5.854 5.736 5.702 5.648
100-07+............. 5.750 5.960 5.844 5.718 5.681 5.624
First Payment......... 0.111 0.111 0.111 0.111 0.111 0.111
Average Life.......... 1.059 9.399 1.747 0.932 0.814 0.685
Last Payment.......... 1.944 14.944 3.694 1.694 1.361 1.111
Mod.Dur. @ 100-00..... 0.992 6.543 1.591 0.878 0.771 0.652
</TABLE>
<PAGE>
FINANCIAL STRATEGIES GROUP
- ----------------------------
CURRENT BALANCE: $21,000,000.00
COUPON: 6.645% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $21,000,000.00 BOND A2 BE-YIELD TABLE
**** TO MATURITY ****
<TABLE>
<CAPTION>
PRICE
----------
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP)........... 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR)........... 25.00 0.00 10.00 15.00 40.00 50.00
99-24.............. 6.665 6.717 6.698 6.651 6.632 6.601
99-24+............. 6.659 6.716 6.695 6.644 6.624 6.590
99-25.............. 6.653 6.714 6.691 6.637 6.615 6.579
99-25+............. 6.647 6.713 6.688 6.630 6.607 6.568
99-26.............. 6.641 6.711 6.685 6.623 6.598 6.556
99-26+............. 6.635 6.709 6.682 6.616 6.590 6.545
99-27.............. 6.629 6.708 6.678 6.609 6.581 6.534
99-27+............. 6.623 6.706 6.675 6.602 6.572 6.523
99-28.............. 6.617 6.704 6.672 6.595 6.564 6.512
99-28+............. 6.611 6.703 6.669 6.588 6.555 6.501
99-29.............. 6.605 6.701 6.665 6.581 6.547 6.490
99-29+............. 6.599 6.699 6.662 6.574 6.538 6.479
99-30.............. 6.593 6.698 6.659 6.566 6.530 6.468
99-30+............. 6.588 6.696 6.656 6.559 6.521 6.457
99-31.............. 6.582 6.695 6.653 6.552 6.513 6.446
99-31+............. 6.576 6.693 6.649 6.545 6.504 6.435
100-00.............. 6.570 6.691 6.646 6.538 6.496 6.424
100-00+............. 6.564 6.690 6.643 6.531 6.487 6.412
100-01.............. 6.558 6.688 6.640 6.524 6.479 6.401
100-01+............. 6.552 6.686 6.636 6.517 6.470 6.390
100-02.............. 6.546 6.685 6.633 6.510 6.462 6.379
100-02+............. 6.540 6.683 6.630 6.503 6.453 6.368
100-03.............. 6.534 6.681 6.627 6.496 6.445 6.357
100-03+............. 6.528 6.680 6.624 6.489 6.436 6.346
100-04.............. 6.523 6.678 6.620 6.482 6.428 6.335
100-04+............. 6.517 6.677 6.617 6.475 6.419 6.324
100-05.............. 6.511 6.675 6.614 6.468 6.411 6.313
100-05+............. 6.505 6.673 6.611 6.461 6.402 6.302
100-06.............. 6.499 6.672 6.607 6.454 6.394 6.291
100-06+............. 6.493 6.670 6.604 6.447 6.385 6.280
100-07.............. 6.487 6.668 6.601 6.440 6.377 6.269
100-07+............. 6.481 6.667 6.598 6.433 6.368 6.258
First Payment......... 1.944 14.944 3.694 1.694 1.361 1.111
Average Life.......... 3.001 15.871 6.128 2.483 2.012 1.523
Last Payment.......... 4.444 20.194 10.194 3.611 2.778 2.028
Mod.Dur. @ 100-00..... 2.636 9.532 4.832 2.221 1.829 1.409
</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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $14,000,000.00
COUPON: 7.045% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $14,000,000.00 BOND A3 BE-YIELD TABLE
**** TO MATURITY ****
<TABLE>
<CAPTION>
PRICE
-------
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP).......... 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR).......... 25.00 0.00 10.00 15.00 40.00 50.00
99-24.............. 7.157 7.131 7.135 7.117 7.116 7.063
99-24+............. 7.154 7.130 7.133 7.114 7.112 7.057
99-25.............. 7.151 7.129 7.131 7.110 7.107 7.051
99-25+............. 7.148 7.127 7.130 7.107 7.103 7.044
99-26.............. 7.146 7.126 7.128 7.104 7.098 7.038
99-26+............. 7.143 7.125 7.126 7.100 7.094 7.032
99-27.............. 7.140 7.123 7.124 7.097 7.090 7.025
99-27+............. 7.137 7.122 7.122 7.093 7.085 7.019
99-28.............. 7.135 7.121 7.121 7.090 7.081 7.013
99-28+............. 7.132 7.119 7.119 7.087 7.077 7.006
99-29.............. 7.129 7.118 7.117 7.083 7.072 7.000
99-29+............. 7.126 7.117 7.115 7.080 7.068 6.994
99-30.............. 7.123 7.115 7.113 7.077 7.063 6.987
99-30+............. 7.121 7.114 7.112 7.073 7.059 6.981
99-31.............. 7.118 7.112 7.110 7.070 7.055 6.974
99-31+............. 7.115 7.111 7.108 7.067 7.050 6.968
100-00............. 7.112 7.110 7.106 7.063 7.046 6.962
100-00+............ 7.110 7.108 7.104 7.060 7.042 6.955
100-01............. 7.107 7.107 7.103 7.056 7.037 6.949
100-01+............ 7.104 7.106 7.101 7.053 7.033 6.943
100-02............. 7.101 7.104 7.099 7.050 7.028 6.936
100-02+............ 7.099 7.103 7.097 7.046 7.024 6.930
100-03............. 7.096 7.102 7.095 7.043 7.020 6.924
100-03+............ 7.093 7.100 7.094 7.040 7.015 6.917
100-04............. 7.090 7.099 7.092 7.036 7.011 6.911
100-04+............ 7.087 7.098 7.090 7.033 7.007 6.905
100-05............. 7.085 7.096 7.086 7.030 7.002 6.898
100-05+............ 7.082 7.095 7.086 7.026 6.998 6.892
100-06............. 7.079 7.094 7.085 7.023 6.994 6.886
100-06+............ 7.076 7.092 7.083 7.020 6.989 6.879
100-07............. 7.074 7.091 7.081 7.016 6.985 6.873
100-07+............ 7.071 7.090 7.079 7.013 6.980 6.867
First Payment........ 4.444 20.194 10.194 3.611 2.778 2.028
Average Life......... 7.714 25.772 14.210 5.999 4.319 2.795
Last Payment......... 14.944 29.611 22.861 12.944 10.278 4.194
Mod.Dur. @ 100-00.... 5.632 11.544 8.658 4.640 3.565 2.457
</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>
FINANCIAL STRATEGIES GROUP
- ---------------------------
CURRENT BALANCE: $7,000,000.00
COUPON: 6.720% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $7,000,000.00 BOND A4 BE-YIELD TABLE
**** TO MATURITY ****
<TABLE>
<CAPTION>
PRICE
----------
<S> <C> <C> <C> <C> <C> <C>
FIX:(HEP)............ 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR)............ 25.00 0.00 10.00 15.00 40.00 50.00
99-24............. 6.784 6.790 6.781 6.775 6.843 6.870
99-24+............ 6.781 6.788 6.778 6.772 6.840 6.866
99-25............. 6.778 6.786 6.775 6.769 6.836 6.862
99-25+............ 6.775 6.784 6.773 6.766 6.833 6.858
99-26............. 6.772 6.782 6.770 6.762 6.829 6.854
99-26+............ 6.768 6.780 6.767 6.759 6.826 6.850
99-27............. 6.765 6.778 6.765 6.756 6.823 6.846
99-27+............ 6.762 6.776 6.762 6.753 6.819 6.842
99-28............. 6.759 6.774 6.759 6.750 6.816 6.838
99-28+............ 6.756 6.772 6.756 6.746 6.813 6.834
99-29............. 6.753 6.770 6.754 6.743 6.809 6.830
99-29+............ 6.750 6.768 6.751 6.740 6.806 6.826
99-30............. 6.747 6.766 6.748 6.737 6.802 6.822
99-30+............ 6.744 6.764 6.746 6.734 6.799 6.818
99-31............. 6.741 6.762 6.743 6.730 6.796 6.814
99-31+............ 6.738 6.760 6.740 6.727 6.792 6.810
100-00............. 6.735 6.759 6.738 6.724 6.789 6.807
100-00+............ 6.732 6.757 6.735 6.721 6.786 6.803
100-01............. 6.728 6.755 6.732 6.718 6.782 6.799
100-01+............ 6.725 6.753 6.730 6.714 6.779 6.795
100-02............. 6.722 6.751 6.727 6.711 6.775 6.791
100-02+............ 6.719 6.749 6.724 6.708 6.772 6.787
100-03............. 6.716 6.747 6.721 6.705 6.769 6.783
100-03+............ 6.713 6.745 6.719 6.702 6.765 6.779
100-04............. 6.710 6.743 6.716 6.698 6.762 6.775
100-04+............ 6.707 6.741 6.713 6.695 6.759 6.771
100-05............. 6.704 6.739 6.711 6.692 6.755 6.767
100-05+............ 6.701 6.737 6.708 6.689 6.752 6.763
100-06............. 6.698 6.735 6.705 6.686 6.748 6.759
100-06+............ 6.695 6.733 6.703 6.682 6.745 6.755
100-07............. 6.692 6.731 6.700 6.679 6.742 6.751
100-07+............ 6.688 6.729 6.697 6.676 6.738 6.747
First Payment........ 3.111 3.111 3.111 3.111 3.111 3.111
Average Life......... 6.504 12.152 7.801 6.175 5.791 4.775
Last Payment......... 14.944 14.944 14.944 12.778 10.111 7.278
Mod.Dur. @ 100-00.... 5.061 7.954 5.797 4.860 4.616 3.948
</TABLE>
<PAGE>
FINANCIAL STRATEGIES GROUP
CURRENT BALANCE: $28,620,000.00
CURRENT COUPON: 5.928% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $28,620,000.00 BOND A5 BOND EQUIVALENT YIELD
**** TO MATURITY ****
PRICE
FIX: (HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM: (CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 6.194 6.112 6.149 6.179 6.250 6.299
99-24+ 6.188 6.111 6.146 6.176 6.240 6.286
99-25 6.182 6.109 6.143 6.172 6.230 6.273
99-25+ 6.176 6.106 6.140 6.168 6.220 6.260
99-26 6.170 6.107 6.137 6.164 6.210 6.248
99-26+ 6.164 6.105 6.134 6.160 6.201 6.235
99-27 6.158 6.104 6.131 6.156 6.191 6.222
99-27+ 6.152 6.102 6.128 6.152 6.181 6.209
99-28 6.146 6.101 6.125 6.148 6.171 6.196
99-28+ 6.139 6.100 6.122 6.144 6.161 6.183
99-29 6.133 6.098 6.119 6.140 6.152 6.170
99-29+ 6.129 6.097 6.116 6.136 6.142 6.158
99-30 6.121 6.095 6.113 6.132 6.132 6.145
99-30+ 6.115 6.094 6.110 6.128 6.122 6.132
99-31 6.109 6.093 6.107 6.124 6.113 6.119
99-31+ 6.103 6.091 6.104 6.120 6.103 6.106
100-00 6.097 6.090 6.101 6.116 6.093 6.094
100-00+ 6.091 6.088 6.098 6.112 6.083 6.081
100-01 6.085 6.087 6.095 6.108 6.074 6.068
100-01+ 6.079 6.086 6.092 6.104 6.064 6.055
100-02 6.073 6.084 6.089 6.101 6.054 6.042
100-02+ 6.067 6.083 6.086 6.097 6.044 6.030
100-03 6.061 6.081 6.083 6.093 6.035 6.017
100-03+ 6.055 6.080 6.080 6.089 6.025 6.004
100-04 6.049 6.079 6.077 6.085 6.015 5.991
100-04+ 6.043 6.077 6.074 6.081 6.005 5.979
100-05 6.039 6.076 6.071 6.077 5.996 5.966
100-05+ 6.031 6.074 6.068 6.073 5.986 5.953
100-06 6.025 6.073 6.065 6.069 5.976 5.940
100-06+ 6.019 6.072 6.062 6.065 5.967 5.928
100-07 6.013 6.070 6.060 5.061 5.957 5.915
100-07+ 6.007 6.069 5.057 5.057 5.947 5.902
First Payment 0.111 0.111 0.111 0.111 0.111 0.111
Average Life 3.142 21.380 7.648 5.335 1.818 1.350
Last Payment 15.444 29.778 28.111 24.194 8.944 6.694
Mod.Dur. @ 100-00 2.585 11.171 5.215 3.966 1.603 1.220
<PAGE>
- -- EQHEL 1997-4
- -- Cut Off Date of Tape is 11/1/97
- -- FIXED RATE COLLATERAL
- -- $45,075,406.69
- -----------------------------------------------------------------------------
Number of Mortgage Loans: 709
Lien Status: First and Second Lien Loans
Aggregate Unpaid Principal Balance: $45,075,406.69
Aggregate Original Principal Balance: $45,085,578.75
Weighted Average Gross Coupon: 10.515%
Gross Coupon Range: 8.000%--14.550%
Weighted Average Service Fee: 0.513%
Service Fee Range: 0.500%--0.750%
- -----------------------------------------------------------------------------
Average Unpaid Principal Balance: $63,576.03
Average Original Principal Balance: $63,590.38
Maximum Unpaid Principal Balance: $650,000.00
Minimum Unpaid Principal Balance: $10,430.03
Maximum Original Principal Balance: $650,000.00
Minimum Original Principal Balance: $10,438.00
Weighted Avg. Stated Rem. Term
(LPD to Mat/Bln Date): 244.679
Stated Rem Term Range:........ 83.000--360.000
Weighted Average Age (First
Pay thru Last Pay): 0.266
Age Range:.................... 0.000--6.000
Weighted Average Original Term
(to Mat/Bln Date): 244.945
Original Term Range: 84.000--360.000
Weighted Average Combined LTV: 81.007
Combined LTV Range: 19.610%--98.080%
- -----------------------------------------------------------------------------
Max Zip Code Concentration: 37137 Concentration: 1.44% State: TN
Earliest First Payment Date: 04/10/97
Latest Maturity Date: 11/15/27
- -----------------------------------------------------------------------------
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>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
GROSS MORTGAGE NUMBER OF UNPAID AGGREGATE
INTEREST RATE MORTGAGE PRINCIPAL PRINCIPAL
RANGE LOANS BALANCE BALANCE
- --------------------------------- -------------- ---------------- --------------
<S> <C> <C> <C>
7.75% < Gross Coupon < = 8.00% 1 40,600.00 0.09
8.00% < Gross Coupon < = 8.25% 14 1,137,989.39 2.52
8.25% < Gross Coupon < = 8.50% 10 800,711.80 1.78
8.50% < Gross Coupon < = 8.75% 9 687,702.58 1.53
8.75% < Gross Coupon < = 9.00% 20 1,648,871.73 3.66
9.00% < Gross Coupon < = 9.25% 38 3,014,119.17 6.69
9.25% < Gross Coupon < = 9.50% 53 4,176,448.12 9.27
9.50% < Gross Coupon < = 9.75% 41 2,680,176.99 5.95
9.75% < Gross Coupon < = 10.00% 51 3,473,639.86 7.71
10.00% < Gross Coupon < = 10.25% 29 1,880,771.04 4.17
10.25% < Gross Coupon < = 10.50% 62 4,164,723.12 9.24
10.50% < Gross Coupon < = 10.75% 62 3,406,595.42 7.56
10.75% < Gross Coupon < = 11.00% 58 3,770,975.67 8.37
11.00% < Gross Coupon < = 11.25% 34 2,872,274.70 6.37
11.25% < Gross Coupon < = 11.50% 45 2,562,636.41 5.69
11.50% < Gross Coupon < = 11.75% 40 1,975,808.24 4.38
11.75% < Gross Coupon < = 12.00% 38 2,018,045.57 4.48
12.00% < Gross Coupon < = 12.25% 29 1,355,099.22 3.01
12.25% < Gross Coupon < = 12.50% 21 1,070,019.47 2.37
12.50% < Gross Coupon < = 12.75% 19 951,332.41 2.11
12.75% < Gross Coupon < = 13.00% 13 737,613.73 1.64
13.00% < Gross Coupon < = 13.25% 4 120,594.00 0.27
13.25% < Gross Coupon < = 13.50% 9 316,093.04 0.70
13.50% < Gross Coupon < = 13.75% 5 108,884.98 0.24
13.75% < Gross Coupon < = 14.00% 1 32,500.00 0.07
14.00% < Gross Coupon < = 14.25% 2 50,180.03 0.11
14.50% < Gross Coupon < = 14.75% 1 21,000.00 0.05
------------- ---------------- -----------
Total................... 709 $45,075,406.69 100.00%
------------- ---------------- -----------
------------- ---------------- -----------
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
ORIGINAL TERM LOANS BALANCE BALANCE
- ------------------------- --------------- --------------- ---------------
<S> <C> <C> <C>
72 < Orig. Term < = 84 2 44,158.03 0.10%
108 < Orig. Term < = 120 28 881,813.17 1.96%
132 < Orig. Term < = 144 2 88,000.00 0.20%
168 < Orig. Term < = 180 386 23,749,115.15 52.69%
228 < Orig. Term < = 240 103 5,424,385.69 12.03%
288 < Orig. Term < = 300 4 292,753.93 0.65%
348 < Orig. Term < = 360 184 14,595,180.72 32.38%
---------------- -------------- ---------------
Total.......................... 709 45,075,406.69 100.00%
---------------- -------------- ---------------
---------------- -------------- ---------------
</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>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
REMAINING TERM LOANS BALANCE BALANCE
- ---------------------------- ------------ --------------- ---------------
<S> <C> <C> <C>
72 < Rem Term < = 84 2 44,158.03 0.10%
108 < Rem Term < = 120 28 881,813.17 1.96%
132 < Rem Term < = 144 2 88,000.00 0.20%
168 < Rem Term < = 180 386 23,749,115.15 52.69%
228 < Rem Term < = 240 103 5,424,385.69 12.03%
288 < Rem Term < = 300 4 292,753.93 0.65%
348 < Rem Term < = 360 184 14,595,180.72 32.38%
------------- -------------- ---------------
Total....................... 709 45,075,406.69 100.00%
------------- -------------- ---------------
------------- -------------- ---------------
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
AGE LOANS BALANCE BALANCE
- ------------------ ------------ --------------- -------------
<S> <C> <C> <C>
Age = 0 534 34,510,957.00 76.56%
0 < Age < = 12 175 10,564,449.69 23.44%
------------ ---------------- ------------
Total 709 45,075,406.69 100.00%
------------ ---------------- ------------
------------ ---------------- ------------
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
YEAR OF MORTGAGE PRINCIPAL PRINCIPAL
ORIGINATION LOANS BALANCE BALANCE
- -------------------- ------------- ---------------- ---------------
<S> <C> <C> <C>
1997 709 45,075,406.69 100.00
------------- ---------------- ---------------
Total............... 709 $45,075,406.69 100.00%
------------- ---------------- ---------------
------------- ---------------- ---------------
</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>
LOAN SUMMARY STRATIFIED BY
LAST PAYMENT DATE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
----------- ---------------- ---------------
<S> <C> <C> <C>
09/01/97 8 296,897.20 0.66
09/10/97 1 58,542.10 0.13
09/15/97 9 525,678.00 1.17
10/01/97 147 10,532,003.10 23.37
10/03/97 1 52,800.00 0.12
10/15/97 170 9,692,245.30 21.50
11/01/97 329 21,328,891.69 47.32
11/15/97 43 2,549,887.34 5.66
12/01/97 1 38,461.96 0.09
-------- ---------------- -------
Total.............. 709 $45,075,406.69 100.00%
-------- ---------------- -------
-------- ---------------- -------
</TABLE>
COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
COMBINED NUMBER OF UNPAID AGGREGATE
LOAN-TO-VALUE MORTGAGE PRINCIPAL PRINCIPAL
RATIO LOANS BALANCE BALANCE
- -------------------------- ------------- ---------------- --------------
<S> <C> <C> <C>
15.000 < CLTV < = 20.000 1 20,000.00 0.04
25.000 < CLTV < = 30.000 7 169,717.60 0.38
30.000 < CLTV < = 35.000 6 150,858.98 0.33
35.000 < CLTV < = 40.000 6 154,200.00 0.34
40.000 < CLTV < = 45.000 9 420,072.59 0.93
45.000 < CLTV < = 50.000 11 361,927.02 0.80
50.000 < CLTV < = 55.000 15 615,176.11 1.36
55.000 < CLTV < = 60.000 25 1,732,423.21 3.84
60.000 < CLTV < = 65.000 27 1,001,999.77 2.22
65.000 < CLTV < = 70.000 46 2,457,232.68 5.45
70.000 < CLTV < = 75.000 46 2,893,861.24 6.42
75.000 < CLTV < = 80.000 158 9,709,274.06 21.54
80.000 < CLTV < = 85.000 139 8,890,427.05 19.72
85.000 < CLTV < = 90.000 138 9,881,410.93 21.92
90.000 < CLTV < = 95.000 73 6,495,481.69 14.41
95.000 < CLTV < =100.000 2 121,343.76 0.27
------ --------------- -------
Total.......................... 709 $ 45,075,406.69 100.00%
</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>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
ORIGINAL NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
- ----------------------------- ----------- ---------------- -------------
<S> <C> <C> <C>
10,000 < Balance < = 15,000 11 140,490.01 0.31
15,000 < Balance < = 20,000 29 531,825.80 1.18
20,000 < Balance < = 25,000 36 825,258.78 1.83
25,000 < Balance < = 30,000 38 1,063,382.94 2.36
30,000 < Balance < = 35,000 42 1,393,440.68 3.09
35,000 < Balance < = 40,000 55 2,084,355.36 4.62
40,000 < Balance < = 45,000 39 1,676,797.07 3.72
45,000 < Balance < = 50,000 51 2,439,751.07 5.41
50,000 < Balance < = 55,000 37 1,948,477.86 4.32
55,000 < Balance < = 60,000 54 3,111,149.27 6.90
60,000 < Balance < = 65,000 56 3,520,394.72 7.81
65,000 < Balance < = 70,000 34 2,290,744.59 5.08
70,000 < Balance < = 75,000 39 2,842,007.62 6.31
75,000 < Balance < = 80,000 35 2,720,958.53 6.04
80,000 < Balance < = 85,000 24 1,991,358.95 4.42
85,000 < Balance < = 90,000 15 1,322,192.37 2.93
90,000 < Balance < = 95,000 13 1,206,553.31 2.68
95,000 < Balance < = 100,000 10 975,409.85 2.16
100,000 < Balance < = 105,000 13 1,338,959.22 2.97
105,000 < Balance < = 110,000 12 1,290,343.17 2.86
110,000 < Balance < = 115,000 6 678,795.00 1.51
115,000 < Balance < = 120,000 9 1,060,746.80 2.35
120,000 < Balance < = 125,000 3 372,350.00 0.83
125,000 < Balance < = 130,000 8 1,021,443.05 2.27
130,000 < Balance < = 135,000 4 530,400.00 1.18
135,000 < Balance < = 140,000 10 1,374,214.94 3.05
140,000 < Balance < = 145,000 3 427,900.00 0.95
145,000 < Balance < = 150,000 1 147,250.00 0.33
150,000 < Balance < = 200,000 16 2,648,327.30 5.88
200,000 < Balance < = 250,000 2 480,403.43 1.07
250,000 < Balance < = 300,000 1 259,600.00 0.58
300,000 < Balance < = 350,000 1 310,125.00 0.69
350,000 < Balance < = 400,000 1 400,000.00 0.89
600,000 < Balance < = 650,000 1 650,000.00 1.44
------- ---------------- ------
Total........................... 709 $45,075,406.69 100.00%
------- ---------------- ------
------- ---------------- ------
</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>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
CURRENT NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
- ----------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
10,000 < Balance < = 15,000 11 140,490.01 0.31
15,000 < Balance < = 20,000 29 531,825.80 1.18
20,000 < Balance < = 25,000 36 825,258.78 1.83
25,000 < Balance < = 30,000 38 1,063,382.94 2.36
30,000 < Balance < = 35,000 42 1,393,440.68 3.09
35,000 < Balance < = 40,000 55 2,084,355.36 4.62
40,000 < Balance < = 45,000 39 1,676,797.07 3.72
45,000 < Balance < = 50,000 51 2,439,751.07 5.41
50,000 < Balance < = 55,000 37 1,948,477.86 4.32
55,000 < Balance < = 60,000 54 3,111,149.27 6.90
60,000 < Balance < = 65,000 56 3,520,394.72 7.81
65,000 < Balance < = 70,000 34 2,290,744.59 5.08
70,000 < Balance < = 75,000 39 2,842,007.62 6.31
75,000 < Balance < = 80,000 35 2,720,958.53 6.04
80,000 < Balance < = 85,000 24 1,991,358.95 4.42
85,000 < Balance < = 90,000 15 1,322,192.37 2.93
90,000 < Balance < = 95,000 13 1,206,553.31 2.68
95,000 < Balance < = 100,000 10 975,409.85 2.16
100,000 < Balance < = 105,000 13 1,338,959.22 2.97
105,000 < Balance < = 110,000 12 1,290,343.17 2.86
110,000 < Balance < = 115,000 6 678,795.00 1.51
115,000 < Balance < = 120,000 9 1,060,746.80 2.35
120,000 < Balance < = 125,000 3 372,350.00 0.83
125,000 < Balance < = 130,000 8 1,021,443.05 2.27
130,000 < Balance < = 135,000 4 530,400.00 1.18
135,000 < Balance < = 140,000 10 1,374,214.94 3.05
140,000 < Balance < = 145,000 3 427,900.00 0.95
145,000 < Balance < = 150,000 1 147,250.00 0.33
150,000 < Balance < = 200,000 16 2,648,327.30 5.88
200,000 < Balance < = 250,000 2 480,403.43 1.07
250,000 < Balance < = 300,000 1 259,600.00 0.58
300,000 < Balance < = 350,000 1 310,125.00 0.69
350,000 < Balance < = 400,000 1 400,000.00 0.89
600,000 < Balance < = 650,000 1 650,000.00 1.44
--- ---------------- --------
Total.............................. 709 $ 45,075,406.69 100.00%
--- ---------------- --------
--- ---------------- --------
</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>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF-DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
STATE LOANS BALANCE BALANCE
- ------- ----- ---------------- -----------
<S> <C> <C> <C>
AR............................ 1 40,800.00 0.09
AZ............................ 1 42,000.00 0.09
FL............................ 51 3,214,499.49 7.13
GA............................ 51 3,740,347.24 8.30
IA............................ 5 284,653.26 0.63
IL............................ 41 3,006,504.53 6.67
IN............................ 65 3,289,022.62 7.30
KS............................ 6 193,200.00 0.43
KY............................ 36 2,162,757.02 4.80
LA............................ 34 1,884,643.39 4.18
MD............................ 13 1,014,234.58 2.25
MI............................ 53 3,140,203.63 6.97
MO............................ 3 246,400.00 0.55
MS............................ 3 111,800.00 0.25
NC............................ 40 2,187,550.78 4.85
OH............................ 115 8,070,497.18 17.90
OR............................ 1 102,125.00 0.23
SC............................ 61 3,199,800.28 7.10
TN............................ 119 8,490,190.59 18.84
TX............................ 5 296,860.00 0.66
VA............................ 3 242,855.84 0.54
WV............................ 2 114,461.26 0.25
--- ---------------- -------
Total......................... 709 $ 45,075,406.69 100.00%
--- ---------------- -------
--- ---------------- -------
</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>
PROPERTY TYPE SUMMARY
<TABLE>
<CAPTION> PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Condominiums......................................................... 4 240,583.65 0.53
Manufactured Housing................................................. 37 1,824,752.54 4.05
PUD.................................................................. 10 1,247,569.75 2.77
Single Family Attached............................................... 6 261,566.13 0.58
Single Family Detached............................................... 639 40,686,870.82 90.26
Two to Four Family................................................... 13 814,063.80 1.81
--- ---------------- ------
Total................................................................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Purchase............................................................. 82 6,459,169.99 14.33
Refinance/No ETO..................................................... 101 6,899,915.81 15.31
Refinance/ETO........................................................ 415 24,292,191.18 53.89
Debt Consolidation................................................... 111 7,424,129.71 16.47
--- ---------------- ------
Total................................................................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Owner Occ............................................................ 672 43,447,730.93 96.39
Investor............................................................. 33 1,492,700.03 3.31
Second Home.......................................................... 4 134,975.73 0.30
--- ---------------- ------
Total................................................................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Full Documentation............... 682 43,627,826.63 96.79
Limited Documentation............ 27 1,447,580.06 3.21
--- ---------------- ------
Total............................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
---------- ---------------- -------------
<S> <C> <C> <C>
1.................................. 640 42,719,610.62 94.77
2.................................. 69 2,355,796.07 5.23
---- ---------------- --------
Total............................. 709 $ 45,075,406.69 100.00%
---- ---------------- --------
---- ---------------- --------
</TABLE>
PREPAYMENT PENALTY SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No............................ 235 13,247,695.73 29.39
Yes........................... 474 31,827,710.96 70.61
---- ---------------- --------
Total......................... 709 $ 45,075,406.69 100.00%
---- ---------------- --------
---- ---------------- --------
</TABLE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
AMORTIZATION LOANS BALANCE BALANCE
------------- ---------------- ------------
<S> <C> <C> <C>
Fully Amortizing.................. 462 26,971,458.47 59.84
Partially Amortizing.............. 247 18,103,948.22 40.16
--- ---------------- ------
Total............................. 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
SECTION 32 SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No........... 679 44,064,408.52 97.76
Yes.......... 30 1,010,998.17 2.24
--- ---------------- ------
Total........ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN GRADE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
A+................ 207 16,461,886.36 36.52
A................. 267 17,167,946.10 38.09
B................. 179 8,896,463.07 19.74
C................. 53 2,477,443.56 5.50
D................. 3 71,667.60 0.16
--- ---------------- ------
Total............. 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
- -----------------------------------------------------------------------
- - EQHEL 1997-4
- - Cut Off Date of Tape is 11/1/97
- - ARM COLLATERAL -
- - $19,529,267.52
- -----------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C>
Number of Mortgage Loans: 183
Lien Status: First Lien Loans
Index: 6 MONTH LIBOR
Aggregate Unpaid Principal Balance:....................... $19,529,267.52
Aggregate Original Principal Balance:..................... $19,534,917.00
- ----------------------------------------------------------------------------
Weighted Average Coupon (Gross):......................... 9.788%
Gross Coupon Range:...................................... 6.500%--13.190%
Weighted Average Margin (Gross):......................... 6.085%
Gross Margin Range:...................................... 3.500%--9.100%
Weighted Average Life Cap (Gross):....................... 16.356%
Gross Life Cap Range:.................................... 13.500%--20.190%
Weighted Average Life Floor (Gross):..................... 9.198%
Gross Life Floor Range:.................................. 4.950%--13.190%
Weighted Average Service Fee:............................ 0.500%
Service Fee Range:....................................... 0.500%--0.500%
- ----------------------------------------------------------------------------
Average Unpaid Principal Balance:........................ $106,717.31
Average Original Principal Balance:...................... $106,748.18
Maximum Unpaid Principal Balance:........................ $384,751.98
Minimum Unpaid Principal Balance:........................ $ 16,000.00
Maximum Original Principal Balance:...................... $385,000.00
Minimum Original Principal Balance:...................... $ 16,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date):........ 358.160
Stated Rem Term Range:................................... 180.000-- 360.000
Weighted Average Age (First Pay thru Paid Thru):......... 0.562
Age Range:............................................... 0.000--3.000
Weighted Average Original Term:.......................... 358.722
Original Term Range:..................................... 180.000-- 360.000
Weighted Average Original LTV:........................... 81.216
Original LTV Range:...................................... 25.000%--95.240%
Weighted Average Periodic Interest Cap:.................. 1.391%
Periodic Interest Cap Range:............................. 1.000%--1.500%
Weighted Average Months to Interest Roll:................ 19.903
Months to Interest Roll Range:........................... 2--24
Weighted Average Interest Roll Frequency:................ 6.000
Interest Frequency Range:................................ 6--6
- ----------------------------------------------------------------------------
</TABLE>
Max Zip Code Concentration: 94025 Concentration: 1.97% State: CA
Earliest First Payment Date: 08/01/97
Latest Maturity Date: 11/15/27
- ----------------------------------------------------------------------------
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>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
GROSS MORTGAGE NUMBER OF UNPAID AGGREGATE
INTEREST RATE MORTGAGE PRINCIPAL PRINCIPAL
RANGE LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
6.00% < Gross Coupon < = 6.50%....................................... 1 132,800.00 0.68
6.50% < Gross Coupon < = 7.00%....................................... 2 381,250.00 1.95
7.50% < Gross Coupon < = 7.75%....................................... 2 506,144.13 2.59
7.75% < Gross Coupon < = 8.00%....................................... 1 208,242.00 1.07
8.00% < Gross Coupon < = 8.25%....................................... 4 717,618.07 3.67
8.25% < Gross Coupon < = 8.50%....................................... 6 1,160,497.58 5.94
8.50% < Gross Coupon < = 8.75%....................................... 9 1,545,140.69 7.91
8.75% < Gross Coupon < = 9.00%....................................... 16 1,615,244.13 8.27
9.00% < Gross Coupon < = 9.25%....................................... 9 889,023.16 4.55
9.25% < Gross Coupon < = 9.50%....................................... 10 999,729.64 5.12
9.50% < Gross Coupon < = 9.75%....................................... 12 1,076,481.44 5.51
9.75% < Gross Coupon < = 10.00%...................................... 17 1,950,961.72 9.99
10.00% < Gross Coupon < = 10.25%..................................... 19 1,888,086.78 9.67
10.25% < Gross Coupon < = 10.50%..................................... 9 1,079,730.93 5.53
10.50% < Gross Coupon < = 10.75%..................................... 8 597,676.59 3.06
10.75% < Gross Coupon < = 11.00%..................................... 14 1,355,895.46 6.94
11.00% < Gross Coupon < = 11.25%..................................... 15 1,035,345.12 5.30
11.25% < Gross Coupon < = 11.50%..................................... 10 1,092,520.01 5.59
11.50% < Gross Coupon < = 11.75%..................................... 7 749,133.65 3.84
11.75% < Gross Coupon < = 12.00%..................................... 4 217,250.00 1.11
12.00% < Gross Coupon < = 12.25%..................................... 2 80,330.00 0.41
12.25% < Gross Coupon < = 12.50%..................................... 2 72,491.42 0.37
12.50% < Gross Coupon < = 12.75% 2 91,600.00 0.47
12.75% < Gross Coupon < = 13.00%..................................... 1 22,750.00 0.12
13.00% < Gross Coupon < = 13.25%..................................... 1 63,325.00 0.32
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
ORIGINAL TERM LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
168 < Orig. Term < = 180............................................. 1 100,300.00 0.51%
228 < Orig. Term < = 240............................................. 2 57,500.00 0.29%
348 < Orig. Term < = 360............................................. 180 19,371,467.52 99.19%
--- ---------------- ------
Total................................................................ 183 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
REMAINING TERM LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
168 < Rem Term < = 180............................................... 1 100,300.00 0.51%
228 < Rem Term < = 240............................................... 2 57,500.00 0.29%
348 < Rem Term < = 360............................................... 180 19,371,467.52 99.19%
--- ---------------- ------
Total................................................................ 183 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
AGE LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
Age = 0.............................................................. 118 11,335,046.00 58.04%
0 < Age < = 12....................................................... 65 8,194,221.52 41.96%
--- ---------------- ------
Total................................................................ 183 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
YEAR OF MORTGAGE PRINCIPAL PRINCIPAL
ORIGINATION LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
1997................................................................. 183 19,529,267.52 100.00
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
LAST PAYMENT DATE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
09/01/97............................................................. 2 154,500.00 0.79
09/15/97............................................................. 1 75,000.00 0.38
10/01/97............................................................. 76 8,982,120.45 45.99
10/15/97............................................................. 19 1,316,461.59 6.74
11/01/97............................................................. 75 8,176,800.48 41.87
11/15/97............................................................. 10 824,385.00 4.22
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
ORIGINAL LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
ORIGINAL NUMBER OF UNPAID AGGREGATE
LOAN-TO-VALUE MORTGAGE PRINCIPAL PRINCIPAL
RATIO LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
20.000 < LTV < = 25.000.............................................. 1 82,000.00 0.42
25.000 < LTV < = 30.000.............................................. 1 28,500.00 0.15
30.000 < LTV < = 35.000.............................................. 1 84,958.19 0.44
40.000 < LTV < = 45.000.............................................. 1 118,891.51 0.61
50.000 < LTV < = 55.000.............................................. 3 226,424.02 1.16
55.000 < LTV < = 60.000.............................................. 2 128,798.07 0.66
60.000 < LTV < = 65.000.............................................. 6 485,137.51 2.48
65.000 < LTV < = 70.000.............................................. 13 1,423,983.17 7.29
70.000 < LTV < = 75.000.............................................. 14 1,269,055.35 6.50
75.000 < LTV < = 80.000.............................................. 56 6,590,920.00 33.75
80.000 < LTV < = 85.000.............................................. 31 3,299,518.26 16.90
85.000 < LTV < = 90.000.............................................. 34 3,388,637.13 17.35
90.000 < LTV < = 95.000.............................................. 19 2,362,444.31 12.10
95.000 < LTV < = 100.000............................................. 1 40,000.00 0.20
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
DISTRIBUTION OF MARGINS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
GROSS MORTGAGE PRINCIPAL PRINCIPAL
MARGIN LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
3.000 < Margin < = 3.500............................................. 1 132,800.00 0.68
3.500 < Margin < = 4.000............................................. 6 665,961.81 3.41
4.000 < Margin < = 4.500............................................. 2 197,752.82 1.01
4.500 < Margin < = 5.000............................................. 14 1,925,545.50 9.86
5.000 < Margin < = 5.500............................................. 22 2,438,483.75 12.49
5.500 < Margin < = 6.000............................................. 41 5,261,072.69 26.94
6.000 < Margin < = 6.500............................................. 38 4,000,263.11 20.48
6.500 < Margin < = 7.000............................................. 20 1,654,379.40 8.47
7.000 < Margin < = 7.500............................................. 17 1,702,832.86 8.72
7.500 < Margin < = 8.000............................................. 15 1,019,322.17 5.22
8.000 < Margin < = 8.500............................................. 3 223,900.00 1.15
8.500 < Margin < = 9.000............................................. 3 154,953.41 0.79
9.000 < Margin < = 9.500............................................. 1 152,000.00 0.78
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN SUMMARY STRATIFIED BY
LIFE CAP
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
GROSS MORTGAGE PRINCIPAL PRINCIPAL
LIFE CAP LOANS BALANCE BALANCE
- ---------------------------- --------------- -------------- ---------------
<S> <C> <C> <C>
13.000 < LIFE CAP < = 13.500 1 132,800.00 0.68
13.500 < LIFE CAP < = 14.000 4 739,386.13 3.79
14.000 < LIFE CAP < = 14.500 6 1,540,915.65 7.89
14.500 < LIFE CAP < = 15.000 17 2,759,352.32 14.13
15.000 < LIFE CAP < = 15.500 12 1,334,227.15 6.83
15.500 < LIFE CAP < = 16.000 18 2,081,390.39 10.66
16.000 < LIFE CAP < = 16.500 19 2,040,231.29 10.45
16.500 < LIFE CAP < = 17.000 24 2,152,360.72 11.02
17.000 < LIFE CAP < = 17.500 23 2,002,492.19 10.25
17.500 < LIFE CAP < = 18.000 18 1,504,546.60 7.70
18.000 < LIFE CAP < = 18.500 23 1,978,176.43 10.13
18.500 < LIFE CAP < = 19.000 11 966,383.65 4.95
19.000 < LIFE CAP < = 19.500 3 119,330.00 0.61
19.500 < LIFE CAP < = 20.000 3 114,350.00 0.59
20.000 < LIFE CAP < = 20.500 1 63,325.00 0.32
---- -------------- ------
Total....................... 183 19,529,267.52 100.00%
---- -------------- ------
---- -------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
LIFE FLOOR
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
GROSS MORTGAGE PRINCIPAL PRINCIPAL
LIFE FLOOR LOANS BALANCE BALANCE
- ------------------------------ ---------------- -------------- --------------
<S> <C> <C> <C>
4.500 < Life Floor < = 5.000 2 258,925.94 1.33
5.000 < Life Floor < = 5.500 8 1,355,895.23 6.94
5.500 < Life Floor < = 6.000 10 946,576.64 4.85
6.000 < Life Floor < = 6.500 5 508,513.34 2.60
7.000 < Life Floor < = 7.500 5 359,980.12 1.84
7.500 < Life Floor < = 8.000 4 564,635.55 2.89
8.000 < Life Floor < = 8.500 6 1,540,915.65 7.89
8.500 < Life Floor < = 9.000 22 3,211,177.21 16.44
9.000 < Life Floor < = 9.500 14 1,106,213.07 5.66
9.500 < Life Floor < = 10.000 21 2,095,784.31 10.73
10.000 < Life Floor < = 10.500 24 2,417,558.42 12.38
10.500 < Life Floor < = 11.000 22 1,955,018.38 10.01
11.000 < Life Floor < = 11.500 22 1,944,685.01 9.96
11.500 < Life Floor < = 12.000 11 966,383.65 4.95
12.000 < Life Floor < = 12.500 3 119,330.00 0.61
12.500 < Life Floor < = 13.000 3 114,350.00 0.59
13.000 < Life Floor < = 13.500 1 63,325.00 0.32
---- -------------- ------
Total......................... 183 $19,529,267.52 100.00%
---- -------------- ------
---- -------------- ------
</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>
NEXT INTEREST ROLLDATE DATE
<TABLE>
<CAPTION>
PERCENTAGE OF
CUT-OFF
AGGREGATE DATE
NEXT NUMBER OF UNPAID AGGREGATE
ROLL MORTGAGE PRINCIPAL PRINCIPAL
DATE LOANS BALANCE BALANCE
- --------- ---------------- ---------------- -------------
<S> <C> <C> <C>
01/01/98 1 $ 114,846.09 00.59
02/01/98 2 $ 209,013.09 01.07
03/01/98 1 $ 233,858.24 01.20
05/01/98 21 $ 2,680,327.00 13.72
08/01/99 4 $ 806,268.97 04.13
09/01/99 45 $ 5,748,987.19 29.44
10/01/99 70 $ 6,263,982.94 32.07
11/01/99 39 $ 3,471,984.00 17.78
--- --------------- -------
Total........ 183 $ 19,529,267.52 100.00%
--- --------------- -------
--- --------------- -------
</TABLE>
LOAN SUMMARY STRATIFIED BY
PERIODIC CAP
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
PERIODIC MORTGAGE PRINCIPAL PRINCIPAL
CAP LOANS BALANCE BALANCE
- ------------- ----------- ---------------- ---------------
<S> <C> <C> <C>
1.000 35 4,265,423.77 21.84
1.500 148 15,263,843.75 78.16
--- -------------- ------
Total........ 183 $19,529,267.52 100.00%
--- -------------- ------
--- -------------- ------
</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>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
ORIGINAL NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
- ----------------------------- ---------------- ----------- --------------
<S> <C> <C> <C>
15,000 < Balance < = 20,000 2 33,600.00 0.17
20,000 < Balance < = 25,000 2 46,750.00 0.24
25,000 < Balance < = 30,000 4 111,900.00 0.57
30,000 < Balance < = 35,000 4 128,024.56 0.66
35,000 < Balance < = 40,000 3 116,536.24 0.60
40,000 < Balance < = 45,000 7 301,774.39 1.55
45,000 < Balance < = 50,000 5 239,678.72 1.23
50,000 < Balance < = 55,000 11 579,765.69 2.97
55,000 < Balance < = 60,000 5 289,213.85 1.48
60,000 < Balance < = 65,000 13 825,019.54 4.22
65,000 < Balance < = 70,000 12 816,805.45 4.18
70,000 < Balance < = 75,000 5 361,229.58 1.85
75,000 < Balance < = 80,000 9 695,350.00 3.56
80,000 < Balance < = 85,000 4 334,958.19 1.72
85,000 < Balance < = 90,000 10 879,542.09 4.50
90,000 < Balance < = 95,000 5 467,591.39 2.39
95,000 < Balance < = 100,000 2 192,615.00 0.99
100,000 < Balance < = 105,000 7 715,106.70 3.66
105,000 < Balance < = 110,000 5 544,180.27 2.79
110,000 < Balance < = 115,000 7 787,305.08 4.03
115,000 < Balance < = 120,000 6 701,095.18 3.59
120,000 < Balance < = 125,000 4 493,708.20 2.53
125,000 < Balance < = 130,000 4 510,030.23 2.61
130,000 < Balance < = 135,000 5 658,050.00 3.37
135,000 < Balance < = 140,000 2 277,227.42 1.42
140,000 < Balance < = 145,000 4 565,029.17 2.89
145,000 < Balance < = 150,000 4 589,785.28 3.02
150,000 < Balance < = 200,000 16 2,720,781.23 13.93
200,000 < Balance < = 250,000 7 1,561,928.34 8.00
250,000 < Balance < = 300,000 2 555,020.13 2.84
300,000 < Balance < = 350,000 3 956,663.62 4.90
350,000 < Balance < = 400,000 4 1,473,001.98 7.54
--- -------------- ------
Total........................ 183 $19,529,267.52 100.00%
--- -------------- ------
--- -------------- ------
</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>
CURRENT MORTGAGE LOAN AMOUNTS
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
CURRENT NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
---------------- ----------- --------------
15,000 < Balance < = 20,000 2 33,600.00 0.17
20,000 < Balance < = 25,000 2 46,750.00 0.24
25,000 < Balance < = 30,000 4 111,900.00 0.57
30,000 < Balance < = 35,000 4 128,024.56 0.66
35,000 < Balance < = 40,000 3 116,536.24 0.60
40,000 < Balance < = 45,000 7 301,774.39 1.55
45,000 < Balance < = 50,000 5 239,678.72 1.23
50,000 < Balance < = 55,000 11 579,765.69 2.97
55,000 < Balance < = 60,000 5 289,213.85 1.48
60,000 < Balance < = 65,000 13 825,019.54 4.22
65,000 < Balance < = 70,000 12 816,805.45 4.18
70,000 < Balance < = 75,000 5 361,229.58 1.85
75,000 < Balance < = 80,000 9 695,350.00 3.56
80,000 < Balance < = 85,000 4 334,958.19 1.72
85,000 < Balance < = 90,000 10 879,542.09 4.50
90,000 < Balance < = 95,000 5 467,591.39 2.39
95,000 < Balance < = 100,000 2 192,615.00 0.99
100,000 < Balance < = 105,000 7 715,106.70 3.66
105,000 < Balance < = 110,000 5 544,180.27 2.79
110,000 < Balance < = 115,000 7 787,305.08 4.03
115,000 < Balance < = 120,000 6 701,095.18 3.59
120,000 < Balance < = 125,000 4 493,708.20 2.53
125,000 < Balance < = 130,000 4 510,030.23 2.61
130,000 < Balance < = 135,000 5 658,050.00 3.37
135,000 < Balance < = 140,000 2 277,227.42 1.42
140,000 < Balance < = 145,000 4 565,029.17 2.89
145,000 < Balance < = 150,000 4 589,785.28 3.02
150,000 < Balance < = 200,000 16 2,720,781.23 13.93
200,000 < Balance < = 250,000 7 1,561,928.34 8.00
250,000 < Balance < = 300,000 2 555,020.13 2.84
300,000 < Balance < = 350,000 3 956,663.62 4.90
350,000 < Balance < = 400,000 4 1,473,001.98 7.54
---------- ------------- ----------
Total........................ 183 $ 19,529,267.52 100.00%
---------- --------------- ---------
---------- --------------- ---------
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>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
STATE LOANS BALANCE BALANCE
- --------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
AZ................... 3 462,399.75 2.37
CA................... 15 3,085,265.85 15.80
CO................... 3 391,872.24 2.01
DC................... 1 114,846.09 0.59
FL................... 8 830,127.50 4.25
GA................... 2 91,850.00 0.47
IL................... 24 3,006,382.47 15.39
IN................... 13 952,702.89 4.88
KS................... 2 58,200.00 0.30
KY................... 4 376,059.54 1.93
LA................... 2 187,850.00 0.96
MD................... 5 684,821.48 3.51
MI................... 32 3,392,959.92 17.37
NC................... 8 817,885.33 4.19
NV................... 1 139,927.42 0.72
OH................... 38 2,603,536.29 13.33
OR................... 2 274,755.64 1.41
SC................... 1 70,979.58 0.36
TN................... 10 1,041,923.80 5.34
TX................... 1 69,711.81 0.36
UT................... 2 193,089.71 0.99
VA................... 3 416,763.78 2.13
WA................... 1 68,000.00 0.35
WI................... 2 197,356.43 1.01
--- ---------------- ------
Total................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
PROPERTY TYPE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Condominiums......................... 2 77,936.24 0.40
Manufactured Housing................. 2 139,400.00 0.71
PUD.................................. 4 383,052.47 1.96
Single Family Attached............... 1 16,000.00 0.08
Single Family Detached............... 166 17,952,357.70 91.93
Townhouse............................ 3 552,230.80 2.83
Two to Four Family................... 5 408,290.31 2.09
--- ---------------- ------
Total................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Purchase................................ 62 7,562,237.08 38.72
Refinance/No ETO........................ 20 1,559,118.62 7.98
Refinance/ETO........................... 80 8,417,135.58 43.10
Debt Consolidation...................... 21 1,990,776.24 10.19
--- ---------------- ------
Total................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Owner Occ............................ 171 18,851,290.89 96.53
Investor............................. 11 611,635.63 3.13
Second Home.......................... 1 66,341.00 0.34
--- ---------------- ------
Total................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Full Documentation.................. 171 18,052,906.81 92.44
Limited Documentation............... 12 1,476,360.71 7.56
--- ---------------- ------
Total............................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN TYPE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- ---------------
<S> <C> <C> <C>
6M LIBOR................................ 25 3,238,044.42 16.58
2/6 LIBOR............................... 158 16,291,223.10 83.42
------------- ---------------- ---------------
Total................................... 183 $ 19,529,267.52 100.00%
------------- ---------------- ---------------
------------- ---------------- ---------------
</TABLE>
PREPAYMENT PENALTY SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No.......................................... 55 6,517,130.91 33.37
Yes......................................... 128 13,012,136.61 66.63
--- ---------------- ------
Total....................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
SECTION 32 SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No......................................... 180 19,405,310.71 99.37
Yes........................................ 3 123,956.81 0.63
--- ---------------- ------
Total...................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN GRADE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
A+......................................... 34 3,584,619.09 18.36
A.......................................... 51 6,485,542.96 33.21
B.......................................... 80 8,057,650.27 41.26
C.......................................... 18 1,401,455.20 7.18
--- ---------------- ------
Total...................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
- ----------------------------------------------------------------
- EQHEL 1997-4
- Cut Off Date of Tape is 11/1/97
- 6M LIBOR LOANS
- $3,238,044.42
- ----------------------------------------------------------------
Number of Mortgage Loans:.................... 25
Lien Status:................................. First Lien Loans
Index:....................................... 6 MONTH LIBOR
Aggregate Unpaid Principal Balance:.......... $3,238,044.42
Aggregate Original Principal Balance:........ $3,238,577.00
- ---------------------------------------------------------------
Weighted Average Coupon (Gross):............. 8.499%
Gross Coupon Range:.......................... 6.500% - 11.000%
Weighted Average Margin (Gross):............. 5.524%
Gross Margin Range:.......................... 3.500% - 8.000%
Weighted Average Life Cap (Gross):........... 15.250%
Gross Life Cap Range:........................ 13.500% - 18.000%
Weighted Average Life Floor (Gross):......... 9.085%
Gross Life Floor Range:...................... 4.950% - 11.000%
- ---------------------------------------------------------------
Average Unpaid Principal Balance:............ $129,521.78
Average Original Principal Balance:.......... $129,543.08
Maximum Unpaid Principal Balance:............ $356,250.00
Minimum Unpaid Principal Balance:............ $40,375.00
Maximum Original Principal Balance:.......... $356,250.00
Minimum Original Principal Balance:.......... $40,375.00
Weighted Avg. Stated Rem. Term (PTD to Mat
Date):..................................... 359.692
Stated Rem Term Range:....................... 357.000 - 360.000
Weighted Average Age (First Pay thru Paid
Thru):..................................... 0.308
Age Range:................................... 0.000 - 3.000
Weighted Average Original Term:.............. 360.000
Original Term Range:......................... 360.000 - 360.000
Weighted Average Original LTV:............... 85.256
Original LTV Range:.......................... 25.000% - 95.000%
Weighted Average Periodic Interest Cap:...... 1.420%
Periodic Interest Cap Range:................. 1.000% - 1.500%
Weighted Average Months to Interest Roll:.... 5.520
Months to Interest Roll Range:............... 2 - 6
Weighted Average Interest Roll Frequency:.... 6.000
Interest Frequency Range:.................... 6 - 6
- -----------------------------------------------------------------
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>
- --------------------------------------------------------------------------
- EQHEL 1997-4
- Cut Off Date of Tape is 11/1/97
- 2/6 LIBOR LOANS
- $16,291,223.10
- --------------------------------------------------------------------------
Number of Mortgage Loans:.................... 158
Lien Status:................................. First Lien Loans
Index:....................................... 6 MONTH LIBOR
Aggregate Unpaid Principal Balance:.......... $16,291,223.10
Aggregate Original Principal Balance:........ $16,296,340.00
- -------------------------------------------------------------------
Weighted Average Coupon (Gross):............. 10.044%
Gross Coupon Range:.......................... 7.750% - 13.190%
Weighted Average Margin (Gross):............. 6.197%
Gross Margin Range:.......................... 4.000% - 9.100%
Weighted Average Life Cap (Gross):........... 16.576%
Gross Life Cap Range:........................ 13.750% - 20.190%
Weighted Average Life Floor (Gross):......... 9.221%
Gross Life Floor Range:...................... 5.000% - 13.190%
- -------------------------------------------------------------------
Average Unpaid Principal Balance:............ $103,109.01
Average Original Principal Balance:.......... $103,141.39
Maximum Unpaid Principal Balance:............ $384,751.98
Minimum Unpaid Principal Balance:............ $16,000.00
Maximum Original Principal Balance:.......... $385,000.00
Minimum Original Principal Balance:.......... $16,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat
Date):..................................... 357.856
Stated Rem Term Range:....................... 180.000 - 360.000
Weighted Average Age (First Pay thru Paid
Thru):..................................... 0.613
Age Range:................................... 0.000 - 3.000
Weighted Average Original Term:.............. 358.468
Original Term Range:......................... 180.000 - 360.000
Weighted Average Original LTV:............... 80.413
Original LTV Range:.......................... 30.000% - 95.240%
Weighted Average Periodic Interest Cap:...... 1.385%
Periodic Interest Cap Range:................. 1.000% - 1.500%
Weighted Average Months to Interest Roll:.... 22.761
Months to Interest Roll Range:............... 21 - 24
Weighted Average Interest Roll Frequency:.... 6.000
Interest Frequency Range:.................... 6 - 6
- ----------------------------------------------------------------------------
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>
EXHIBIT 99.2
MARKETING MEMORANDUM FOR
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
The analysis in this report is accurate to the best of PSI's knowledge and is
based on information provided by the Equivantage Acceptance Corp. PSI makes no
representations as to the accuracy of such information provided to it by the
Sponsor. 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>
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
PRELIMINARY MARKETING MEMO
<TABLE>
<S> <C> <C> <C> <C> <C>
Company and
Servicer:............. EquiVantage Inc.
Collateral:............ The collateral consists of fixed-rate and variable-rate home equity loans.
Aggregate Fixed Rate Group $ [71,695,460]
Group Balance......... Variable Rate Group $ [30,000,000]
<CAPTION>
CLASS A-1(1) CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5 (2)
------------- ---------- ---------- ---------- --------------------------
S> <C> <C> <C> <C> <C>
Certificate Type:...... Floater Sequential Sequential NAS Floater
Approximate Size:...... [$29,380,000] [$21,000,000] [$14,000,000] [$7,000,000] [$28,620,000]
Pricing Speed:......... [24% HEP] [24% HEP] [24% HEP] [24% HEP] [25% CPR]
Average Life
(to call):........... [1.06 years] [3.00] [6.65] [6.35] [2.94]
(to maturity):....... [1.06 years] [3.00] [7.71] [6.50] [3.14]
Coupon:................ [ TBD%] [ TBD%] [ TBD%] [ TBD%] [ TBD%] The lesser of:
1) One Month LIBOR + [TBD]bps
2) The Available Funds Cap
Step-Up Coupon after
Call Date:............ [N/A] [N/A] [TBD + 0.50%] [TBD + 0.50%] [LIBOR 1M + 2xTBD bps]
Yield (CBE):........... [ TBD%] [ TBD%] [ TBD%] [ TBD%] [ TBD%]
Payment Delay:......... No Delay 24 days 24 days 24 days No Delay
Day Count:............. Actual/360 30/360 30/360 30/360 Actual/360
Dated Date:............ 12/15/97 12/01/97 12/01/97 12/01/97 12/15/97
Expected Maturity
(to call):........... [11/25/99] [05/25/02] [02/25/06] [02/25/06] [02/25/06]
(to maturity):....... [11/25/99] [05/25/02] [11/25/12] [11/25/12] [05/25/13]
Stated Maturity:....... [11/25/12] [06/25/19] [12/25/28] [12/25/28] [12/25/27]
Pricing Date:.......... [11/25/97] [11/25/97] [11/25/97] [11/25/97] [11/25/97]
Settlement Date:....... [12/15/97] [12/15/97] [12/15/97] [12/15/97] [12/15/97]
</TABLE>
- ------------------------
(1) Subject to group 1 fixed rate net wac cap as defined below.
(2) Subject to group 2 available funds cap as defined below.
<TABLE>
<S> <C>
Servicing Fee: 50 basis points per annum for first lien loans and
75 basis points per annum for second lien loans.
Trustee: [Norwest Bank Minnesota, National Association]
Certificate Ratings: The Certificates will be rated AAA/Aaa by Standard & Poor's and
Moody's.
Certificate Insurer: [Financial Guaranty Insurance Company ("FGIC"). FGIC's claims-paying
ability is rated AAA/Aaa/AAA by Standard and Poor's, Moody's and
Fitch].
Certificate Insurance: Timely payments of interest and eventual principal on the
Certificates will be 100% guaranteed by FGIC.
Credit Enhancement: 1) 100% wrap from FGIC guaranteeing timely payment of interest and
eventual principal.
2) Overcollateralization.
3) Excess monthly cash flow
</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>
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
PRELIMINARY MARKETING MEMO
<TABLE>
<S> <C>
[10%] Clean-up Call: The Residual Holder has the right to purchase the mortgage
loans from the Trust when the outstanding aggregate
principal balance of the mortgage loans has declined to 10%
or less of the initial aggregate principal balance of the
mortgage loans. If such option is not excercised, the
Servicer will then have such option. The option to purchase
the mortgage loans is at par plus accrued interest for both
the Residual Holder and the Servicer.
[Coupon Step-Up: If the Clean-Up Call is not exercised, the coupon on the
Class A-3 and A-4 Certificates will increase by 0.50%, and
the Coupon on the Class A-5 will be the lesser of: 1) One
Month LIBOR + 2x [] bps; and 2) The Available Funds Cap.]
NAS Certificate: Non-Accelerated Senior ("NAS") Certificate is locked outfrom
receiving principal payments for the first 36 months of the
transaction and then it receives an increasing percentage of
its pro rata principal distribution according to the
following schedule:
</TABLE>
<TABLE>
<CAPTION>
MONTHS % OF PRO RATA PRINCIPAL
-------------------- -----------------------
<S> <C>
0- 36 [0%]
37- 60 [45%]
61- 72 [80%]
73- 84 [100%]
85-480 [300%]
</TABLE>
<TABLE>
<S> <C>
Interest Accrual Period: Interest will accrue from the 1st day of the preceeding
month until the 30th day of the preceeding month for the
Fixed-Rate Certificates.
Interest will accrue on the Variable-Rate Certificates from
Payment Date to Payment Date. For the first Payment Date,
interest will accrue from the Closing Date to the first
Payment Date.
Prepayment Assumption: For the Fixed-Rate Group Certificates, [24]% HEP ([2.4]% CPR
in month 1 with monthly incremental increases of [2.4]% CPR
until the speed reaches [24]% CPR in month 10 based on loan
seasoning.)
For the Class A-5 Variable-Rate Group Certificates, [25]%
CPR.
Fixed Rate Net WAC Cap: The Fixed Rate Net WAC Cap is a rate equal to the weighted
average gross coupon rate less i) the servicing fee and ii)
the master servicing fee.
[Available Funds Cap: The Available Funds Cap is the per annum rate equal to the
percentage obtained by (I) dividing (x) the amount of
interest that accrued on the Mortgage Loans in the
Adjustable Rate Group in respect of the related interest
period at the weighted average of the
Mortgage Rates, reduced by the sum of (i)the Adjustable-Rate
Group Servicing Fee, (ii) the premiums due to the
Certificate Insurer with respect to the Certificate
Insurance Policy relating to the Class A-5 Certificates, and
(iii) in the case of each Distribution Date occuring after
the Distribution Date in May, 1998, an amount equal to
one-twelth of 75 basis points multiplied by the aggregate
principal balance of the Adjustable- Rate Mortgage Loans as
of the first day of such Interest Period, by (y) the product
of of (i) the Class A-5 Certificate Principal Balance as of
the first day of such Interest Period and (ii) the actual
number of days elapsed during such Interest Period divided
by 360, and (II) multiplying the result by 100.]
Interest Carry-Forward: The Class A-5 Certificates will have an interest carry-
forward feature. The excess of the interest accrued on the
Class A-5 Certificates over the amount of interest actually
distributed will be paid on future Remittance Dates to the
extent of Class A-5 Available funds prior to distributing
any Excess Spread to the holder of the Class R Certificate.
The interest carry-forward Amount will accrue interest at
the Class A-5 Certificate Rate. No interest carry- forward
will be paid once its principal balance has been reduced to
zero. The Interest carry-forward Amount is not guaranteed by
FGIC.
Payment Date: The 25th day of each month or, if such day is not a business
day, the next succeeding business day, beginning on January
25, 1997.
</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>
EQUIVANTAGE HOME EQUITY LOAN TRUST 1997-4
PRELIMINARY MARKETING MEMO
<TABLE>
<S> <C>
Record Date: The last day of the calendar month immediately preceding the
related payment date.
Cut-Off Date: [12/1/97]
SMMEA: The Fixed-Rate Certificates WILL NOT constitute "mortgage
related securities" for purposes of SMMEA.
The Variable-Rate Certificates WILL constitute "mortgage
related securities" for purposes of SMMEA.
ERISA Considerations: The Certificates will be ERISA eligible. However, investors
should consult with their counsel with respect to the
consequences under ERISA and the Internal Revenue Code of
the Plan's acquisition and ownership of such certificates.
Taxation: REMIC.
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 foregoing is qualified in its entirety by
the information appearing in the Prospectus. To the extent
that the foregoing 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.
Further Information: Call the desk at (212) 778-2741, Mike Corddry at (212)
778-2840, Paul Richardson at (212) 778-1907, or Greg Bloom
(212) 778-2998 with any questions.
</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>
Projected Available Funds Cap (for the first 5 years at pricing speed)
Representing Actual/360 Day Count:
<TABLE>
<CAPTION>
PAYMENT INTEREST
DATE CAP
- --------- -----------
<C> <C> <S>
01/25/98 6.90%* [Available Funds Cap: The Available Funds Cap is the per annum rate equal to the percentage
02/25/98 9.15% obtained by (I) dividing (x) the amount of interest that accrued on the Mortgage Loans in the
03/25/98 10.18% Adjustable Rate Group in respect of the related interest period at the weighted average of
04/25/98 9.24% the Mortgage Rates, reduced by the sum of (i)the Adjustable-Rate Group Servicing Fee, (ii)
05/25/98 9.59% the premiums due to the Certificate Insurer with respect to the Certificate Insurance Policy
06/25/98 8.55% relating to the Class A-5 Certificates, and (iii) in the case of each Distribution Date
07/25/98 9.13% occuring after the Distribution Date in May, 1998, an amount equal to one-twelth of 75 basis
08/25/98 8.88% points multiplied by the aggregate principal balance of the Adjustable-Rate Mortgage Loans as
09/25/98 8.93% of the first day of such Interest Period, by (y) the product of (i) the Class A-5 Certificate
10/25/98 9.27% Principal Balance as of the first day of such Interest Period and (ii) the actual number of
11/25/98 8.99% days elapsed during such Interest Period divided by 360, and (II) multiplying the result by
12/25/98 9.32% 100.]
01/25/99 9.29%
02/25/99 9.31%
03/25/99 10.34%
04/25/99 9.36%
05/25/99 9.70%
06/25/99 9.41%
07/25/99 9.77%
08/25/99 9.49%
09/25/99 9.52%
10/25/99 9.92%
11/25/99 10.04%
12/25/99 10.93%
01/25/00 10.91%
02/25/00 10.95%
03/25/00 11.75%
04/25/00 11.07%
05/25/00 11.88%
06/25/00 11.73%
07/25/00 12.18%
08/25/00 11.84%
09/25/00 11.89%
10/25/00 12.34%
11/25/00 11.94%
12/25/00 12.34%
01/25/01 11.94%
02/25/01 11.94%
03/25/01 13.22%
04/25/01 11.94%
05/25/01 12.34%
06/25/01 11.94%
07/25/01 12.34%
08/25/01 11.94%
09/25/01 11.94%
10/25/01 12.34%
11/25/01 11.94%
12/25/01 12.34%
01/25/02 11.94%
02/25/02 11.94%
03/25/02 13.22%
04/25/02 11.94%
05/25/02 12.34%
06/25/02 11.94%
07/25/02 12.34%
08/25/02 11.94%
09/25/02 11.94%
10/25/02 12.34%
11/25/02 11.94%
12/25/02 12.34%
</TABLE>
- ------------------------
* 41 days of accrued interested in the first period.
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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $29,380,000.00
CURRENT COUPON: 5.838% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $29,380,000.00 BOND A1 DISCOUNT MARGIN ACT/360 TABLE
**** TO 10% COLLATERAL CALL ****
PRICE
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 39.313 18.682 30.155 42.475 46.305 52.025
99-24+ 37.791 18.452 29.206 40.756 44.345 49.707
99-25 36.269 18.221 28.257 39.036 42.386 47.390
99-25+ 34.748 17.991 27.309 37.317 40.427 45.073
99-26 33.227 17.760 26.361 35.598 38.469 42.757
99-26+ 31.706 17.530 25.413 33.880 36.511 40.441
99-27 30.186 17.300 24.465 32.162 34.554 38.126
99-27+ 28.666 17.070 23.518 30.444 32.596 35.812
99-28 27.146 16.839 22.571 28.726 30.640 33.497
99-28+ 25.627 16.609 21.624 27.009 28.683 31.183
99-29 24.108 16.379 20.677 25.293 26.727 28.870
99-29+ 22.589 16.149 19.730 23.576 24.772 26.557
99-30 21.071 15.919 18.784 21.860 22.817 24.245
99-30+ 19.553 15.689 17.837 20.145 20.862 21.933
99-31 18.035 15.460 16.891 18.430 18.908 19.621
99-31+ 16.517 15.230 15.946 16.715 16.954 17.311
100-00 15.000 15.000 15.000 15.000 15.000 15.000
100-00+ 13.483 14.770 14.055 13.286 13.047 12.690
100-01 11.967 14.541 13.109 11.572 11.094 10.380
100-01+ 10.450 14.311 12.164 9.858 9.142 8.071
100-02 8.934 14.082 11.220 8.145 7.190 5.763
100-02+ 7.419 13.852 10.275 6.432 5.238 3.454
100-03 5.903 13.623 9.331 4.720 3.287 1.147
100-03+ 4.388 13.393 8.387 3.008 1.336 -1.160
100-04 2.874 13.164 7.443 1.296 -0.614 -3.467
100-04+ 1.359 12.935 6.499 -0.415 -2.564 -5.774
100-05 -0.155 12.706 5.555 -2.127 -4.514 -8.079
100-05+ -1.668 12.477 4.612 -3.837 -6.463 -10.385
100-06 -3.182 12.248 3.669 -5.548 -8.412 -12.690
100-06+ -4.695 12.019 2.726 -7.258 -10.360 -14.994
100-07 -6.208 11.790 1.783 -8.967 -12.308 -17.298
100-07+ -7.720 11.561 0.841 -10.677 -14.256 -19.601
First Payment 0.111 0.111 0.111 0.111 0.111 0.111
Average Life 1.059 9.399 1.747 0.932 0.814 0.685
Last Payment 1.944 14.944 3.694 1.694 1.361 1.111
Mod.Dur. @ 100-00 0.992 6.543 1.591 0.878 0.771 0.652
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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $21,000,000.00
COUPON: 6.645% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $21,000,000.00 BOND A2 BE-YIELD TABLE
**** TO 10% COLLATERAL CALL ****
PRICE
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 6.665 6.717 6.698 6.651 6.632 6.601
99-24+ 6.659 6.716 6.695 6.644 6.624 6.590
99-25 6.653 6.714 6.691 6.637 6.615 6.579
99-25+ 6.647 6.713 6.688 6.630 6.607 6.568
99-26 6.641 6.711 6.685 6.623 6.598 6.556
99-26+ 6.635 6.709 6.682 6.616 6.590 6.545
99-27 6.629 6.708 6.678 6.609 6.581 6.534
99-27+ 6.623 6.706 6.675 6.602 6.572 6.523
99-28 6.617 6.704 6.672 6.595 6.564 6.512
99-28+ 6.611 6.703 6.669 6.588 6.555 6.501
99-29 6.605 6.701 6.665 6.581 6.547 6.490
99-29+ 6.599 6.699 6.662 6.574 6.538 6.479
99-30 6.593 6.698 6.659 6.566 6.530 6.468
99-30+ 6.588 6.696 6.656 6.559 6.521 6.457
99-31 6.582 6.695 6.653 6.552 6.513 6.446
99-31+ 6.576 6.693 6.649 6.545 6.504 6.435
100-00 6.570 6.691 6.646 6.538 6.496 6.424
100-00+ 6.564 6.690 6.643 6.531 6.487 6.412
100-01 6.558 6.688 6.640 6.524 6.479 6.401
100-01+ 6.552 6.686 6.636 6.517 6.470 6.390
100-02 6.546 6.685 6.633 6.510 6.462 6.379
100-02+ 6.540 6.683 6.630 6.503 6.453 6.368
100-03 6.534 6.681 6.627 6.496 6.445 6.357
100-03+ 6.528 6.680 6.624 6.489 6.436 6.346
100-04 6.523 6.678 6.620 6.482 6.428 6.335
100-04+ 6.517 6.677 6.617 6.475 6.419 6.324
100-05 6.511 6.675 6.614 6.468 6.411 6.313
100-05+ 6.505 6.673 6.611 6.461 6.402 6.302
100-06 6.499 6.672 6.607 6.454 6.394 6.291
100-06+ 6.493 6.670 6.604 6.447 6.385 6.280
100-07 6.487 6.668 6.601 6.440 6.377 6.269
100-07+ 6.481 6.667 6.598 6.433 6.368 6.258
First Payment 1.944 14.944 3.694 1.694 1.361 1.111
Average Life 3.001 15.871 6.128 2.483 2.012 1.523
Last Payment 4.444 20.194 10.194 3.611 2.778 2.028
Mod.Dur. @ 100-00 2.636 9.532 4.832 2.221 1.829 1.409
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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $14,000,000.00
COUPON: 7.045% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $14,000,000.00 BOND A3 BE-YIELD TABLE
**** TO 10% COLLATERAL CALL ****
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 7.106 7.130 7.123 7.100 7.084 7.059
99-24+ 7.103 7.129 7.121 7.097 7.079 7.053
99-25 7.100 7.127 7.120 7.094 7.075 7.047
99-25+ 7.097 7.126 7.118 7.090 7.070 7.040
99-26 7.094 7.125 7.116 7.087 7.065 7.034
99-26+ 7.091 7.123 7.114 7.083 7.061 7.027
99-27 7.088 7.122 7.112 7.080 7.056 7.021
99-27+ 7.085 7.121 7.110 7.076 7.052 7.015
99-28 7.082 7.119 7.109 7.073 7.047 7.008
99-28+ 7.079 7.118 7.107 7.069 7.042 7.002
99-29 7.076 7.117 7.105 7.066 7.038 6.995
99-29+ 7.073 7.115 7.103 7.062 7.033 6.989
99-30 7.070 7.114 7.101 7.059 7.028 6.983
99-30+ 7.067 7.113 7.099 7.055 7.024 6.976
99-31 7.064 7.111 7.097 7.052 7.019 6.970
99-31+ 7.061 7.110 7.096 7.048 7.015 6.963
100-00 7.058 7.108 7.094 7.045 7.010 6.957
100-00+ 7.054 7.107 7.092 7.042 7.005 6.951
100-01 7.051 7.106 7.090 7.038 7.001 6.944
100-01+ 7.048 7.104 7.088 7.035 6.996 6.938
100-02 7.045 7.103 7.086 7.031 6.991 6.931
100-02+ 7.042 7.102 7.085 7.028 6.987 6.925
100-03 7.039 7.100 7.083 7.024 6.982 6.919
100-03+ 7.036 7.099 7.081 7.021 6.977 6.912
100-04 7.033 7.098 7.079 7.017 6.973 6.906
100-04+ 7.030 7.096 7.077 7.014 6.968 6.900
100-05 7.027 7.095 7.075 7.010 6.964 6.893
100-05+ 7.024 7.094 7.074 7.007 6.959 6.887
100-06 7.021 7.092 7.072 7.003 6.954 6.880
100-06+ 7.018 7.091 7.070 7.000 6.950 6.874
100-07 7.015 7.090 7.068 6.997 6.945 6.868
100-07+ 7.012 7.088 7.066 6.993 6.941 6.861
First Payment 4.444 20.194 10.194 3.611 2.778 2.028
Average Life 6.647 25.560 13.568 5.716 3.994 2.772
Last Payment 8.194 28.028 14.944 8.861 5.194 3.694
Mod.Dur. @ 100-00 5.116 11.515 8.466 4.500 3.366 2.440
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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $7,000,000.00
COUPON: 6.720% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $7,000,000.00 BOND A4 BE-YIELD TABLE
**** TO 10% COLLATERAL CALL ****
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 6.775 6.790 6.781 6.774 6.765 6.752
99-24+ 6.772 6.788 6.778 6.771 6.761 6.747
99-25 6.769 6.786 6.775 6.768 6.757 6.742
99-25+ 6.766 6.784 6.773 6.764 6.753 6.737
99-26 6.763 6.782 6.770 6.761 6.749 6.732
99-26+ 6.759 6.780 6.767 6.758 6.745 6.727
99-27 6.756 6.778 6.765 6.755 6.741 6.722
99-27+ 6.753 6.776 6.762 6.751 6.738 6.717
99-28 6.750 6.774 6.759 6.748 6.734 6.712
99-28+ 6.747 6.772 6.756 6.745 6.730 6.707
99-29 6.744 6.770 6.754 6.742 6.726 6.702
99-29+ 6.741 6.768 6.751 6.739 6.722 6.697
99-30 6.737 6.766 6.748 6.735 6.718 6.692
99-30+ 6.734 6.764 6.746 6.732 6.714 6.687
99-31 6.731 6.762 6.743 6.729 6.710 6.682
99-31+ 6.728 6.760 6.740 6.726 6.706 6.677
100-00 6.725 6.759 6.738 6.722 6.702 6.672
100-00+ 6.722 6.757 6.735 6.719 6.698 6.667
100-01 6.719 6.755 6.732 6.716 6.694 6.662
100-01+ 6.716 6.753 6.730 6.713 6.690 6.657
100-02 6.712 6.751 6.727 6.710 6.687 6.653
100-02+ 6.709 6.749 6.724 6.706 6.683 6.648
100-03 6.706 6.747 6.721 6.703 6.679 6.643
100-03+ 6.703 6.745 6.719 6.700 6.675 6.638
100-04 6.700 6.743 6.716 6.697 6.671 6.633
100-04+ 6.697 6.741 6.713 6.694 6.667 6.628
100-05 6.694 6.739 6.711 6.690 6.663 6.623
100-05+ 6.691 6.737 6.708 6.687 6.659 6.618
100-06 6.687 6.735 6.705 6.684 6.655 6.613
100-06+ 6.684 6.733 6.703 6.681 6.651 6.608
100-07 6.681 6.731 6.700 6.678 6.647 6.603
100-07+ 6.678 6.729 6.697 6.674 6.644 6.598
First Payment 3.111 3.111 3.111 3.111 3.111 3.111
Average Life 6.352 12.152 7.801 6.152 4.790 3.640
Last Payment 8.194 14.944 14.944 8.861 5.194 3.694
Mod.Dur. @ 100-00 4.979 7.954 5.797 4.848 3.975 3.141
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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $28,620,000.00
CURRENT COUPON: 5.928% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $28,620,000.00 BOND A5 DISCOUNT MARGIN ACT/360 TABLE
**** TO 10% COLLATERAL CALL ****
PRICE
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 33.737 26.162 28.881 30.865 39.592 44.683
99-24+ 33.127 26.026 28.575 30.435 38.616 43.388
99-25 32.518 25.891 28.269 30.006 37.639 42.093
99-25+ 31.908 25.756 27.964 29.576 36.663 40.798
99-26 31.299 25.620 27.658 29.146 35.688 39.504
99-26+ 30.690 25.485 27.353 28.717 34.712 38.210
99-27 30.081 25.350 27.048 28.287 33.737 36.916
99-27+ 29.472 25.215 26.743 27.858 32.762 35.623
99-28 28.863 25.080 26.438 27.429 31.787 34.330
99-28+ 28.255 24.945 26.133 27.000 30.813 33.038
99-29 27.646 24.810 25.828 26.571 29.839 31.745
99-29+ 27.038 24.675 25.523 26.142 28.865 30.454
99-30 26.430 24.540 25.218 25.714 27.891 29.162
99-30+ 25.822 24.405 24.913 25.285 26.918 27.871
99-31 25.215 24.270 24.609 24.857 25.945 26.580
99-31+ 24.607 24.135 24.304 24.428 24.972 25.290
100-00 24.000 24.000 24.000 24.000 24.000 24.000
100-00+ 23.393 23.865 23.696 23.572 23.028 22.710
100-01 22.786 23.730 23.391 23.144 22.056 21.421
100-01+ 22.179 23.596 23.087 22.716 21.084 20.132
100-02 21.573 23.461 22.783 22.288 20.113 18.844
100-02+ 20.966 23.326 22.479 21.860 19.142 17.555
100-03 20.360 23.192 22.175 21.433 18.171 16.268
100-03+ 19.754 23.057 21.871 21.005 17.201 14.980
100-04 19.148 22.922 21.568 20.578 16.231 13.693
100-04+ 18.542 22.788 21.264 20.151 15.261 12.406
100-05 17.937 22.653 20.960 19.724 14.291 11.120
100-05+ 17.331 22.519 20.657 19.297 13.322 9.834
100-06 16.726 22.384 20.354 18.870 12.353 8.548
100-06+ 16.121 22.250 20.050 18.443 11.384 7.263
100-07 15.516 22.116 19.747 18.016 10.415 5.978
100-07+ 14.911 21.981 19.444 17.590 9.447 4.693
First Payment 0.111 0.111 0.111 0.111 0.111 0.111
Average Life 2.937 21.219 6.788 4.346 1.734 1.277
Last Payment 8.194 28.028 14.944 8.861 5.194 3.694
Mod.Dur. @ 100-00 2.475 11.142 4.936 3.509 1.546 1.166
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>
FINANCIAL STRATEGIES GROUP
- --------------------------
CURRENT BALANCE: $28,620,000.00
CURRENT COUPON: 5.928% EQHEL74
FACTOR: 1.0000000000
ORIGINAL BALANCE: $28,620,000.00 BOND A5 DISCOUNT MARGIN ACT/360 TABLE
**** TO MATURITY ****
PRICE
FIX:(HEP) 24.00 0.00 12.00 29.00 36.00 48.00
ARM:(CPR) 25.00 0.00 10.00 15.00 40.00 50.00
99-24 34.335 26.217 29.877 32.812 39.884 44.830
99-24+ 33.751 26.082 29.587 32.432 38.941 43.591
99-25 33.167 25.947 29.298 32.051 37.998 42.354
99-25+ 32.583 25.812 29.008 31.671 37.056 41.116
99-26 31.999 25.677 28.719 31.290 36.115 39.879
99-26+ 31.416 25.542 28.430 30.910 35.173 38.642
99-27 30.833 25.407 28.141 30.530 34.232 37.406
99-27+ 30.250 25.272 27.852 30.150 33.291 36.170
99-28 29.667 25.138 27.563 29.770 32.350 34.934
99-28+ 29.084 25.003 27.274 29.390 31.410 33.699
99-29 28.502 24.868 26.986 29.011 30.470 32.464
99-29+ 27.919 24.733 26.697 28.631 29.530 31.230
99-30 27.337 24.599 26.408 28.252 28.590 29.996
99-30+ 26.755 24.464 26.120 27.873 27.651 28.762
99-31 26.173 24.330 25.832 27.494 26.712 27.529
99-31+ 25.592 24.195 25.543 27.115 25.774 26.296
100-00 25.010 24.061 25.255 26.736 24.835 25.063
100-00+ 24.429 23.926 24.967 26.357 23.897 23.831
100-01 23.848 23.792 24.679 25.978 22.960 22.599
100-01+ 23.267 23.657 24.391 25.600 22.022 21.368
100-02 22.686 23.523 24.103 25.221 21.085 20.137
100-02+ 22.106 23.389 23.816 24.843 20.148 18.906
100-03 21.526 23.254 23.528 24.465 19.211 17.676
100-03+ 20.945 23.120 23.240 24.087 18.275 16.446
100-04 20.365 22.986 22.953 23.709 17.339 15.216
100-04+ 19.786 22.852 22.666 23.331 16.403 13.987
100-05 19.206 22.717 22.378 22.953 15.468 12.758
100-05+ 18.627 22.583 22.091 22.576 14.533 11.530
100-06 18.047 22.449 21.804 22.198 13.598 10.302
100-06+ 17.468 22.315 21.517 21.821 12.663 9.074
100-07 16.889 22.181 21.230 21.444 11.729 7.847
100-07+ 16.311 22.047 20.943 21.067 10.795 6.620
First Payment 0.111 0.111 0.111 0.111 0.111 0.111
Average Life 3.142 21.380 7.648 5.335 1.818 1.350
Last Payment 15.444 29.778 28.111 24.194 8.944 6.694
Mod.Dur. @ 100-00 2.585 11.171 5.215 3.966 1.603 1.220
HIS 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>
- -- EQHEL 1997-4
- -- Cut Off Date of Tape is 11/1/97
- -- FIXED RATE COLLATERAL
- -- $45,075,406.69
- -----------------------------------------------------------------------------
Number of Mortgage Loans: 709
Lien Status: First and Second Lien Loans
Aggregate Unpaid Principal Balance: $45,075,406.69
Aggregate Original Principal Balance: $45,085,578.75
Weighted Average Gross Coupon: 10.515%
Gross Coupon Range: 8.000%--14.550%
Weighted Average Service Fee: 0.513%
Service Fee Range: 0.500%--0.750%
- -----------------------------------------------------------------------------
Average Unpaid Principal Balance: $63,576.03
Average Original Principal Balance: $63,590.38
Maximum Unpaid Principal Balance: $650,000.00
Minimum Unpaid Principal Balance: $10,430.03
Maximum Original Principal Balance: $650,000.00
Minimum Original Principal Balance: $10,438.00
Weighted Avg. Stated Rem. Term
(LPD to Mat/Bln Date): 244.679
Stated Rem Term Range:........ 83.000--360.000
Weighted Average Age (First
Pay thru Last Pay): 0.266
Age Range:.................... 0.000--6.000
Weighted Average Original Term
(to Mat/Bln Date): 244.945
Original Term Range: 84.000--360.000
Weighted Average Combined LTV: 81.007
Combined LTV Range: 19.610%--98.080%
- -----------------------------------------------------------------------------
Max Zip Code Concentration: 37137 Concentration: 1.44% State: TN
Earliest First Payment Date: 04/10/97
Latest Maturity Date: 11/15/27
- -----------------------------------------------------------------------------
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>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
GROSS MORTGAGE NUMBER OF UNPAID AGGREGATE
INTEREST RATE MORTGAGE PRINCIPAL PRINCIPAL
RANGE LOANS BALANCE BALANCE
- --------------------------------- -------------- ---------------- --------------
<S> <C> <C> <C>
7.75% < Gross Coupon < = 8.00% 1 40,600.00 0.09
8.00% < Gross Coupon < = 8.25% 14 1,137,989.39 2.52
8.25% < Gross Coupon < = 8.50% 10 800,711.80 1.78
8.50% < Gross Coupon < = 8.75% 9 687,702.58 1.53
8.75% < Gross Coupon < = 9.00% 20 1,648,871.73 3.66
9.00% < Gross Coupon < = 9.25% 38 3,014,119.17 6.69
9.25% < Gross Coupon < = 9.50% 53 4,176,448.12 9.27
9.50% < Gross Coupon < = 9.75% 41 2,680,176.99 5.95
9.75% < Gross Coupon < = 10.00% 51 3,473,639.86 7.71
10.00% < Gross Coupon < = 10.25% 29 1,880,771.04 4.17
10.25% < Gross Coupon < = 10.50% 62 4,164,723.12 9.24
10.50% < Gross Coupon < = 10.75% 62 3,406,595.42 7.56
10.75% < Gross Coupon < = 11.00% 58 3,770,975.67 8.37
11.00% < Gross Coupon < = 11.25% 34 2,872,274.70 6.37
11.25% < Gross Coupon < = 11.50% 45 2,562,636.41 5.69
11.50% < Gross Coupon < = 11.75% 40 1,975,808.24 4.38
11.75% < Gross Coupon < = 12.00% 38 2,018,045.57 4.48
12.00% < Gross Coupon < = 12.25% 29 1,355,099.22 3.01
12.25% < Gross Coupon < = 12.50% 21 1,070,019.47 2.37
12.50% < Gross Coupon < = 12.75% 19 951,332.41 2.11
12.75% < Gross Coupon < = 13.00% 13 737,613.73 1.64
13.00% < Gross Coupon < = 13.25% 4 120,594.00 0.27
13.25% < Gross Coupon < = 13.50% 9 316,093.04 0.70
13.50% < Gross Coupon < = 13.75% 5 108,884.98 0.24
13.75% < Gross Coupon < = 14.00% 1 32,500.00 0.07
14.00% < Gross Coupon < = 14.25% 2 50,180.03 0.11
14.50% < Gross Coupon < = 14.75% 1 21,000.00 0.05
------------- ---------------- -----------
Total................... 709 $45,075,406.69 100.00%
------------- ---------------- -----------
------------- ---------------- -----------
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
ORIGINAL TERM LOANS BALANCE BALANCE
- ------------------------- --------------- --------------- ---------------
<S> <C> <C> <C>
72 < Orig. Term < = 84 2 44,158.03 0.10%
108 < Orig. Term < = 120 28 881,813.17 1.96%
132 < Orig. Term < = 144 2 88,000.00 0.20%
168 < Orig. Term < = 180 386 23,749,115.15 52.69%
228 < Orig. Term < = 240 103 5,424,385.69 12.03%
288 < Orig. Term < = 300 4 292,753.93 0.65%
348 < Orig. Term < = 360 184 14,595,180.72 32.38%
---------------- -------------- ---------------
Total.......................... 709 45,075,406.69 100.00%
---------------- -------------- ---------------
---------------- -------------- ---------------
</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>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
REMAINING TERM LOANS BALANCE BALANCE
- ---------------------------- ------------ --------------- ---------------
<S> <C> <C> <C>
72 < Rem Term < = 84 2 44,158.03 0.10%
108 < Rem Term < = 120 28 881,813.17 1.96%
132 < Rem Term < = 144 2 88,000.00 0.20%
168 < Rem Term < = 180 386 23,749,115.15 52.69%
228 < Rem Term < = 240 103 5,424,385.69 12.03%
288 < Rem Term < = 300 4 292,753.93 0.65%
348 < Rem Term < = 360 184 14,595,180.72 32.38%
------------- -------------- ---------------
Total....................... 709 45,075,406.69 100.00%
------------- -------------- ---------------
------------- -------------- ---------------
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
AGE LOANS BALANCE BALANCE
- ------------------ ------------ --------------- -------------
<S> <C> <C> <C>
Age = 0 534 34,510,957.00 76.56%
0 < Age < = 12 175 10,564,449.69 23.44%
------------ ---------------- ------------
Total 709 45,075,406.69 100.00%
------------ ---------------- ------------
------------ ---------------- ------------
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
YEAR OF MORTGAGE PRINCIPAL PRINCIPAL
ORIGINATION LOANS BALANCE BALANCE
- -------------------- ------------- ---------------- ---------------
<S> <C> <C> <C>
1997 709 45,075,406.69 100.00
------------- ---------------- ---------------
Total............... 709 $45,075,406.69 100.00%
------------- ---------------- ---------------
------------- ---------------- ---------------
</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>
LOAN SUMMARY STRATIFIED BY
LAST PAYMENT DATE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
----------- ---------------- ---------------
<S> <C> <C> <C>
09/01/97 8 296,897.20 0.66
09/10/97 1 58,542.10 0.13
09/15/97 9 525,678.00 1.17
10/01/97 147 10,532,003.10 23.37
10/03/97 1 52,800.00 0.12
10/15/97 170 9,692,245.30 21.50
11/01/97 329 21,328,891.69 47.32
11/15/97 43 2,549,887.34 5.66
12/01/97 1 38,461.96 0.09
-------- ---------------- -------
Total.............. 709 $45,075,406.69 100.00%
-------- ---------------- -------
-------- ---------------- -------
</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.
COMBINED LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
COMBINED NUMBER OF UNPAID AGGREGATE
LOAN-TO-VALUE MORTGAGE PRINCIPAL PRINCIPAL
RATIO LOANS BALANCE BALANCE
- -------------------------- ------------- ---------------- --------------
<S> <C> <C> <C>
15.000 < CLTV < = 20.000 1 20,000.00 0.04
25.000 < CLTV < = 30.000 7 169,717.60 0.38
30.000 < CLTV < = 35.000 6 150,858.98 0.33
35.000 < CLTV < = 40.000 6 154,200.00 0.34
40.000 < CLTV < = 45.000 9 420,072.59 0.93
45.000 < CLTV < = 50.000 11 361,927.02 0.80
50.000 < CLTV < = 55.000 15 615,176.11 1.36
55.000 < CLTV < = 60.000 25 1,732,423.21 3.84
60.000 < CLTV < = 65.000 27 1,001,999.77 2.22
65.000 < CLTV < = 70.000 46 2,457,232.68 5.45
70.000 < CLTV < = 75.000 46 2,893,861.24 6.42
75.000 < CLTV < = 80.000 158 9,709,274.06 21.54
80.000 < CLTV < = 85.000 139 8,890,427.05 19.72
85.000 < CLTV < = 90.000 138 9,881,410.93 21.92
90.000 < CLTV < = 95.000 73 6,495,481.69 14.41
95.000 < CLTV < =100.000 2 121,343.76 0.27
------ --------------- -------
Total.......................... 709 $ 45,075,406.69 100.00%
</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>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
ORIGINAL NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
- ----------------------------- ----------- ---------------- -------------
<S> <C> <C> <C>
10,000 < Balance < = 15,000 11 140,490.01 0.31
15,000 < Balance < = 20,000 29 531,825.80 1.18
20,000 < Balance < = 25,000 36 825,258.78 1.83
25,000 < Balance < = 30,000 38 1,063,382.94 2.36
30,000 < Balance < = 35,000 42 1,393,440.68 3.09
35,000 < Balance < = 40,000 55 2,084,355.36 4.62
40,000 < Balance < = 45,000 39 1,676,797.07 3.72
45,000 < Balance < = 50,000 51 2,439,751.07 5.41
50,000 < Balance < = 55,000 37 1,948,477.86 4.32
55,000 < Balance < = 60,000 54 3,111,149.27 6.90
60,000 < Balance < = 65,000 56 3,520,394.72 7.81
65,000 < Balance < = 70,000 34 2,290,744.59 5.08
70,000 < Balance < = 75,000 39 2,842,007.62 6.31
75,000 < Balance < = 80,000 35 2,720,958.53 6.04
80,000 < Balance < = 85,000 24 1,991,358.95 4.42
85,000 < Balance < = 90,000 15 1,322,192.37 2.93
90,000 < Balance < = 95,000 13 1,206,553.31 2.68
95,000 < Balance < = 100,000 10 975,409.85 2.16
100,000 < Balance < = 105,000 13 1,338,959.22 2.97
105,000 < Balance < = 110,000 12 1,290,343.17 2.86
110,000 < Balance < = 115,000 6 678,795.00 1.51
115,000 < Balance < = 120,000 9 1,060,746.80 2.35
120,000 < Balance < = 125,000 3 372,350.00 0.83
125,000 < Balance < = 130,000 8 1,021,443.05 2.27
130,000 < Balance < = 135,000 4 530,400.00 1.18
135,000 < Balance < = 140,000 10 1,374,214.94 3.05
140,000 < Balance < = 145,000 3 427,900.00 0.95
145,000 < Balance < = 150,000 1 147,250.00 0.33
150,000 < Balance < = 200,000 16 2,648,327.30 5.88
200,000 < Balance < = 250,000 2 480,403.43 1.07
250,000 < Balance < = 300,000 1 259,600.00 0.58
300,000 < Balance < = 350,000 1 310,125.00 0.69
350,000 < Balance < = 400,000 1 400,000.00 0.89
600,000 < Balance < = 650,000 1 650,000.00 1.44
------- ---------------- ------
Total........................... 709 $45,075,406.69 100.00%
------- ---------------- ------
------- ---------------- ------
</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>
CURRENT MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
CURRENT NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
- ----------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
10,000 < Balance < = 15,000 11 140,490.01 0.31
15,000 < Balance < = 20,000 29 531,825.80 1.18
20,000 < Balance < = 25,000 36 825,258.78 1.83
25,000 < Balance < = 30,000 38 1,063,382.94 2.36
30,000 < Balance < = 35,000 42 1,393,440.68 3.09
35,000 < Balance < = 40,000 55 2,084,355.36 4.62
40,000 < Balance < = 45,000 39 1,676,797.07 3.72
45,000 < Balance < = 50,000 51 2,439,751.07 5.41
50,000 < Balance < = 55,000 37 1,948,477.86 4.32
55,000 < Balance < = 60,000 54 3,111,149.27 6.90
60,000 < Balance < = 65,000 56 3,520,394.72 7.81
65,000 < Balance < = 70,000 34 2,290,744.59 5.08
70,000 < Balance < = 75,000 39 2,842,007.62 6.31
75,000 < Balance < = 80,000 35 2,720,958.53 6.04
80,000 < Balance < = 85,000 24 1,991,358.95 4.42
85,000 < Balance < = 90,000 15 1,322,192.37 2.93
90,000 < Balance < = 95,000 13 1,206,553.31 2.68
95,000 < Balance < = 100,000 10 975,409.85 2.16
100,000 < Balance < = 105,000 13 1,338,959.22 2.97
105,000 < Balance < = 110,000 12 1,290,343.17 2.86
110,000 < Balance < = 115,000 6 678,795.00 1.51
115,000 < Balance < = 120,000 9 1,060,746.80 2.35
120,000 < Balance < = 125,000 3 372,350.00 0.83
125,000 < Balance < = 130,000 8 1,021,443.05 2.27
130,000 < Balance < = 135,000 4 530,400.00 1.18
135,000 < Balance < = 140,000 10 1,374,214.94 3.05
140,000 < Balance < = 145,000 3 427,900.00 0.95
145,000 < Balance < = 150,000 1 147,250.00 0.33
150,000 < Balance < = 200,000 16 2,648,327.30 5.88
200,000 < Balance < = 250,000 2 480,403.43 1.07
250,000 < Balance < = 300,000 1 259,600.00 0.58
300,000 < Balance < = 350,000 1 310,125.00 0.69
350,000 < Balance < = 400,000 1 400,000.00 0.89
600,000 < Balance < = 650,000 1 650,000.00 1.44
--- ---------------- --------
Total.............................. 709 $ 45,075,406.69 100.00%
--- ---------------- --------
--- ---------------- --------
</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>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF-DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
STATE LOANS BALANCE BALANCE
- ------- ----- ---------------- -----------
<S> <C> <C> <C>
AR............................ 1 40,800.00 0.09
AZ............................ 1 42,000.00 0.09
FL............................ 51 3,214,499.49 7.13
GA............................ 51 3,740,347.24 8.30
IA............................ 5 284,653.26 0.63
IL............................ 41 3,006,504.53 6.67
IN............................ 65 3,289,022.62 7.30
KS............................ 6 193,200.00 0.43
KY............................ 36 2,162,757.02 4.80
LA............................ 34 1,884,643.39 4.18
MD............................ 13 1,014,234.58 2.25
MI............................ 53 3,140,203.63 6.97
MO............................ 3 246,400.00 0.55
MS............................ 3 111,800.00 0.25
NC............................ 40 2,187,550.78 4.85
OH............................ 115 8,070,497.18 17.90
OR............................ 1 102,125.00 0.23
SC............................ 61 3,199,800.28 7.10
TN............................ 119 8,490,190.59 18.84
TX............................ 5 296,860.00 0.66
VA............................ 3 242,855.84 0.54
WV............................ 2 114,461.26 0.25
--- ---------------- -------
Total......................... 709 $ 45,075,406.69 100.00%
--- ---------------- -------
--- ---------------- -------
</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>
PROPERTY TYPE SUMMARY
<TABLE>
<CAPTION> PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Condominiums......................................................... 4 240,583.65 0.53
Manufactured Housing................................................. 37 1,824,752.54 4.05
PUD.................................................................. 10 1,247,569.75 2.77
Single Family Attached............................................... 6 261,566.13 0.58
Single Family Detached............................................... 639 40,686,870.82 90.26
Two to Four Family................................................... 13 814,063.80 1.81
--- ---------------- ------
Total................................................................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Purchase............................................................. 82 6,459,169.99 14.33
Refinance/No ETO..................................................... 101 6,899,915.81 15.31
Refinance/ETO........................................................ 415 24,292,191.18 53.89
Debt Consolidation................................................... 111 7,424,129.71 16.47
--- ---------------- ------
Total................................................................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Owner Occ............................................................ 672 43,447,730.93 96.39
Investor............................................................. 33 1,492,700.03 3.31
Second Home.......................................................... 4 134,975.73 0.30
--- ---------------- ------
Total................................................................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Full Documentation............... 682 43,627,826.63 96.79
Limited Documentation............ 27 1,447,580.06 3.21
--- ---------------- ------
Total............................ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LIEN SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
---------- ---------------- -------------
<S> <C> <C> <C>
1.................................. 640 42,719,610.62 94.77
2.................................. 69 2,355,796.07 5.23
---- ---------------- --------
Total............................. 709 $ 45,075,406.69 100.00%
---- ---------------- --------
---- ---------------- --------
</TABLE>
PREPAYMENT PENALTY SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No............................ 235 13,247,695.73 29.39
Yes........................... 474 31,827,710.96 70.61
---- ---------------- --------
Total......................... 709 $ 45,075,406.69 100.00%
---- ---------------- --------
---- ---------------- --------
</TABLE>
LOAN SUMMARY STRATIFIED BY AMORTIZATION
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
AMORTIZATION LOANS BALANCE BALANCE
------------- ---------------- ------------
<S> <C> <C> <C>
Fully Amortizing.................. 462 26,971,458.47 59.84
Partially Amortizing.............. 247 18,103,948.22 40.16
--- ---------------- ------
Total............................. 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
SECTION 32 SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No........... 679 44,064,408.52 97.76
Yes.......... 30 1,010,998.17 2.24
--- ---------------- ------
Total........ 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN GRADE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
A+................ 207 16,461,886.36 36.52
A................. 267 17,167,946.10 38.09
B................. 179 8,896,463.07 19.74
C................. 53 2,477,443.56 5.50
D................. 3 71,667.60 0.16
--- ---------------- ------
Total............. 709 $ 45,075,406.69 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
- -----------------------------------------------------------------------
- - EQHEL 1997-4
- - Cut Off Date of Tape is 11/1/97
- - ARM COLLATERAL -
- - $19,529,267.52
- -----------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C>
Number of Mortgage Loans: 183
Lien Status: First Lien Loans
Index: 6 MONTH LIBOR
Aggregate Unpaid Principal Balance:....................... $19,529,267.52
Aggregate Original Principal Balance:..................... $19,534,917.00
- ----------------------------------------------------------------------------
Weighted Average Coupon (Gross):......................... 9.788%
Gross Coupon Range:...................................... 6.500%--13.190%
Weighted Average Margin (Gross):......................... 6.085%
Gross Margin Range:...................................... 3.500%--9.100%
Weighted Average Life Cap (Gross):....................... 16.356%
Gross Life Cap Range:.................................... 13.500%--20.190%
Weighted Average Life Floor (Gross):..................... 9.198%
Gross Life Floor Range:.................................. 4.950%--13.190%
Weighted Average Service Fee:............................ 0.500%
Service Fee Range:....................................... 0.500%--0.500%
- ----------------------------------------------------------------------------
Average Unpaid Principal Balance:........................ $106,717.31
Average Original Principal Balance:...................... $106,748.18
Maximum Unpaid Principal Balance:........................ $384,751.98
Minimum Unpaid Principal Balance:........................ $ 16,000.00
Maximum Original Principal Balance:...................... $385,000.00
Minimum Original Principal Balance:...................... $ 16,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat Date):........ 358.160
Stated Rem Term Range:................................... 180.000-- 360.000
Weighted Average Age (First Pay thru Paid Thru):......... 0.562
Age Range:............................................... 0.000--3.000
Weighted Average Original Term:.......................... 358.722
Original Term Range:..................................... 180.000-- 360.000
Weighted Average Original LTV:........................... 81.216
Original LTV Range:...................................... 25.000%--95.240%
Weighted Average Periodic Interest Cap:.................. 1.391%
Periodic Interest Cap Range:............................. 1.000%--1.500%
Weighted Average Months to Interest Roll:................ 19.903
Months to Interest Roll Range:........................... 2--24
Weighted Average Interest Roll Frequency:................ 6.000
Interest Frequency Range:................................ 6--6
- ----------------------------------------------------------------------------
</TABLE>
Max Zip Code Concentration: 94025 Concentration: 1.97% State: CA
Earliest First Payment Date: 08/01/97
Latest Maturity Date: 11/15/27
- ----------------------------------------------------------------------------
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>
GROSS MORTGAGE INTEREST RATE RANGE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
GROSS MORTGAGE NUMBER OF UNPAID AGGREGATE
INTEREST RATE MORTGAGE PRINCIPAL PRINCIPAL
RANGE LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
6.00% < Gross Coupon < = 6.50%....................................... 1 132,800.00 0.68
6.50% < Gross Coupon < = 7.00%....................................... 2 381,250.00 1.95
7.50% < Gross Coupon < = 7.75%....................................... 2 506,144.13 2.59
7.75% < Gross Coupon < = 8.00%....................................... 1 208,242.00 1.07
8.00% < Gross Coupon < = 8.25%....................................... 4 717,618.07 3.67
8.25% < Gross Coupon < = 8.50%....................................... 6 1,160,497.58 5.94
8.50% < Gross Coupon < = 8.75%....................................... 9 1,545,140.69 7.91
8.75% < Gross Coupon < = 9.00%....................................... 16 1,615,244.13 8.27
9.00% < Gross Coupon < = 9.25%....................................... 9 889,023.16 4.55
9.25% < Gross Coupon < = 9.50%....................................... 10 999,729.64 5.12
9.50% < Gross Coupon < = 9.75%....................................... 12 1,076,481.44 5.51
9.75% < Gross Coupon < = 10.00%...................................... 17 1,950,961.72 9.99
10.00% < Gross Coupon < = 10.25%..................................... 19 1,888,086.78 9.67
10.25% < Gross Coupon < = 10.50%..................................... 9 1,079,730.93 5.53
10.50% < Gross Coupon < = 10.75%..................................... 8 597,676.59 3.06
10.75% < Gross Coupon < = 11.00%..................................... 14 1,355,895.46 6.94
11.00% < Gross Coupon < = 11.25%..................................... 15 1,035,345.12 5.30
11.25% < Gross Coupon < = 11.50%..................................... 10 1,092,520.01 5.59
11.50% < Gross Coupon < = 11.75%..................................... 7 749,133.65 3.84
11.75% < Gross Coupon < = 12.00%..................................... 4 217,250.00 1.11
12.00% < Gross Coupon < = 12.25%..................................... 2 80,330.00 0.41
12.25% < Gross Coupon < = 12.50%..................................... 2 72,491.42 0.37
12.50% < Gross Coupon < = 12.75% 2 91,600.00 0.47
12.75% < Gross Coupon < = 13.00%..................................... 1 22,750.00 0.12
13.00% < Gross Coupon < = 13.25%..................................... 1 63,325.00 0.32
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
ORIGINAL TERM
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
ORIGINAL TERM LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
168 < Orig. Term < = 180............................................. 1 100,300.00 0.51%
228 < Orig. Term < = 240............................................. 2 57,500.00 0.29%
348 < Orig. Term < = 360............................................. 180 19,371,467.52 99.19%
--- ---------------- ------
Total................................................................ 183 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
REMAINING MONTHS TO STATED MATURITY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
REMAINING TERM LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
168 < Rem Term < = 180............................................... 1 100,300.00 0.51%
228 < Rem Term < = 240............................................... 2 57,500.00 0.29%
348 < Rem Term < = 360............................................... 180 19,371,467.52 99.19%
--- ---------------- ------
Total................................................................ 183 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
AGE OF LOAN
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
AGE LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
Age = 0.............................................................. 118 11,335,046.00 58.04%
0 < Age < = 12....................................................... 65 8,194,221.52 41.96%
--- ---------------- ------
Total................................................................ 183 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
YEARS OF ORIGINATION
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
YEAR OF MORTGAGE PRINCIPAL PRINCIPAL
ORIGINATION LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
1997................................................................. 183 19,529,267.52 100.00
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
LAST PAYMENT DATE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
09/01/97............................................................. 2 154,500.00 0.79
09/15/97............................................................. 1 75,000.00 0.38
10/01/97............................................................. 76 8,982,120.45 45.99
10/15/97............................................................. 19 1,316,461.59 6.74
11/01/97............................................................. 75 8,176,800.48 41.87
11/15/97............................................................. 10 824,385.00 4.22
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
ORIGINAL LOAN-TO-VALUE RATIOS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
ORIGINAL NUMBER OF UNPAID AGGREGATE
LOAN-TO-VALUE MORTGAGE PRINCIPAL PRINCIPAL
RATIO LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
20.000 < LTV < = 25.000.............................................. 1 82,000.00 0.42
25.000 < LTV < = 30.000.............................................. 1 28,500.00 0.15
30.000 < LTV < = 35.000.............................................. 1 84,958.19 0.44
40.000 < LTV < = 45.000.............................................. 1 118,891.51 0.61
50.000 < LTV < = 55.000.............................................. 3 226,424.02 1.16
55.000 < LTV < = 60.000.............................................. 2 128,798.07 0.66
60.000 < LTV < = 65.000.............................................. 6 485,137.51 2.48
65.000 < LTV < = 70.000.............................................. 13 1,423,983.17 7.29
70.000 < LTV < = 75.000.............................................. 14 1,269,055.35 6.50
75.000 < LTV < = 80.000.............................................. 56 6,590,920.00 33.75
80.000 < LTV < = 85.000.............................................. 31 3,299,518.26 16.90
85.000 < LTV < = 90.000.............................................. 34 3,388,637.13 17.35
90.000 < LTV < = 95.000.............................................. 19 2,362,444.31 12.10
95.000 < LTV < = 100.000............................................. 1 40,000.00 0.20
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
DISTRIBUTION OF MARGINS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
GROSS MORTGAGE PRINCIPAL PRINCIPAL
MARGIN LOANS BALANCE BALANCE
- --------------------------------------------------------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
3.000 < Margin < = 3.500............................................. 1 132,800.00 0.68
3.500 < Margin < = 4.000............................................. 6 665,961.81 3.41
4.000 < Margin < = 4.500............................................. 2 197,752.82 1.01
4.500 < Margin < = 5.000............................................. 14 1,925,545.50 9.86
5.000 < Margin < = 5.500............................................. 22 2,438,483.75 12.49
5.500 < Margin < = 6.000............................................. 41 5,261,072.69 26.94
6.000 < Margin < = 6.500............................................. 38 4,000,263.11 20.48
6.500 < Margin < = 7.000............................................. 20 1,654,379.40 8.47
7.000 < Margin < = 7.500............................................. 17 1,702,832.86 8.72
7.500 < Margin < = 8.000............................................. 15 1,019,322.17 5.22
8.000 < Margin < = 8.500............................................. 3 223,900.00 1.15
8.500 < Margin < = 9.000............................................. 3 154,953.41 0.79
9.000 < Margin < = 9.500............................................. 1 152,000.00 0.78
--- ---------------- ------
Total................................................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN SUMMARY STRATIFIED BY
LIFE CAP
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
GROSS MORTGAGE PRINCIPAL PRINCIPAL
LIFE CAP LOANS BALANCE BALANCE
- ---------------------------- --------------- -------------- ---------------
<S> <C> <C> <C>
13.000 < LIFE CAP < = 13.500 1 132,800.00 0.68
13.500 < LIFE CAP < = 14.000 4 739,386.13 3.79
14.000 < LIFE CAP < = 14.500 6 1,540,915.65 7.89
14.500 < LIFE CAP < = 15.000 17 2,759,352.32 14.13
15.000 < LIFE CAP < = 15.500 12 1,334,227.15 6.83
15.500 < LIFE CAP < = 16.000 18 2,081,390.39 10.66
16.000 < LIFE CAP < = 16.500 19 2,040,231.29 10.45
16.500 < LIFE CAP < = 17.000 24 2,152,360.72 11.02
17.000 < LIFE CAP < = 17.500 23 2,002,492.19 10.25
17.500 < LIFE CAP < = 18.000 18 1,504,546.60 7.70
18.000 < LIFE CAP < = 18.500 23 1,978,176.43 10.13
18.500 < LIFE CAP < = 19.000 11 966,383.65 4.95
19.000 < LIFE CAP < = 19.500 3 119,330.00 0.61
19.500 < LIFE CAP < = 20.000 3 114,350.00 0.59
20.000 < LIFE CAP < = 20.500 1 63,325.00 0.32
---- -------------- ------
Total....................... 183 19,529,267.52 100.00%
---- -------------- ------
---- -------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
LIFE FLOOR
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
GROSS MORTGAGE PRINCIPAL PRINCIPAL
LIFE FLOOR LOANS BALANCE BALANCE
- ------------------------------ ---------------- -------------- --------------
<S> <C> <C> <C>
4.500 < Life Floor < = 5.000 2 258,925.94 1.33
5.000 < Life Floor < = 5.500 8 1,355,895.23 6.94
5.500 < Life Floor < = 6.000 10 946,576.64 4.85
6.000 < Life Floor < = 6.500 5 508,513.34 2.60
7.000 < Life Floor < = 7.500 5 359,980.12 1.84
7.500 < Life Floor < = 8.000 4 564,635.55 2.89
8.000 < Life Floor < = 8.500 6 1,540,915.65 7.89
8.500 < Life Floor < = 9.000 22 3,211,177.21 16.44
9.000 < Life Floor < = 9.500 14 1,106,213.07 5.66
9.500 < Life Floor < = 10.000 21 2,095,784.31 10.73
10.000 < Life Floor < = 10.500 24 2,417,558.42 12.38
10.500 < Life Floor < = 11.000 22 1,955,018.38 10.01
11.000 < Life Floor < = 11.500 22 1,944,685.01 9.96
11.500 < Life Floor < = 12.000 11 966,383.65 4.95
12.000 < Life Floor < = 12.500 3 119,330.00 0.61
12.500 < Life Floor < = 13.000 3 114,350.00 0.59
13.000 < Life Floor < = 13.500 1 63,325.00 0.32
---- -------------- ------
Total......................... 183 $19,529,267.52 100.00%
---- -------------- ------
---- -------------- ------
</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>
NEXT INTEREST ROLLDATE DATE
<TABLE>
<CAPTION>
PERCENTAGE OF
CUT-OFF
AGGREGATE DATE
NEXT NUMBER OF UNPAID AGGREGATE
ROLL MORTGAGE PRINCIPAL PRINCIPAL
DATE LOANS BALANCE BALANCE
- --------- ---------------- ---------------- -------------
<S> <C> <C> <C>
01/01/98 1 $ 114,846.09 00.59
02/01/98 2 $ 209,013.09 01.07
03/01/98 1 $ 233,858.24 01.20
05/01/98 21 $ 2,680,327.00 13.72
08/01/99 4 $ 806,268.97 04.13
09/01/99 45 $ 5,748,987.19 29.44
10/01/99 70 $ 6,263,982.94 32.07
11/01/99 39 $ 3,471,984.00 17.78
--- --------------- -------
Total........ 183 $ 19,529,267.52 100.00%
--- --------------- -------
--- --------------- -------
</TABLE>
LOAN SUMMARY STRATIFIED BY
PERIODIC CAP
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
PERIODIC MORTGAGE PRINCIPAL PRINCIPAL
CAP LOANS BALANCE BALANCE
- ------------- ----------- ---------------- ---------------
<S> <C> <C> <C>
1.000 35 4,265,423.77 21.84
1.500 148 15,263,843.75 78.16
--- -------------- ------
Total........ 183 $19,529,267.52 100.00%
--- -------------- ------
--- -------------- ------
</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>
ORIGINAL MORTGAGE LOAN AMOUNTS
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
ORIGINAL NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
- ----------------------------- ---------------- ----------- --------------
<S> <C> <C> <C>
15,000 < Balance < = 20,000 2 33,600.00 0.17
20,000 < Balance < = 25,000 2 46,750.00 0.24
25,000 < Balance < = 30,000 4 111,900.00 0.57
30,000 < Balance < = 35,000 4 128,024.56 0.66
35,000 < Balance < = 40,000 3 116,536.24 0.60
40,000 < Balance < = 45,000 7 301,774.39 1.55
45,000 < Balance < = 50,000 5 239,678.72 1.23
50,000 < Balance < = 55,000 11 579,765.69 2.97
55,000 < Balance < = 60,000 5 289,213.85 1.48
60,000 < Balance < = 65,000 13 825,019.54 4.22
65,000 < Balance < = 70,000 12 816,805.45 4.18
70,000 < Balance < = 75,000 5 361,229.58 1.85
75,000 < Balance < = 80,000 9 695,350.00 3.56
80,000 < Balance < = 85,000 4 334,958.19 1.72
85,000 < Balance < = 90,000 10 879,542.09 4.50
90,000 < Balance < = 95,000 5 467,591.39 2.39
95,000 < Balance < = 100,000 2 192,615.00 0.99
100,000 < Balance < = 105,000 7 715,106.70 3.66
105,000 < Balance < = 110,000 5 544,180.27 2.79
110,000 < Balance < = 115,000 7 787,305.08 4.03
115,000 < Balance < = 120,000 6 701,095.18 3.59
120,000 < Balance < = 125,000 4 493,708.20 2.53
125,000 < Balance < = 130,000 4 510,030.23 2.61
130,000 < Balance < = 135,000 5 658,050.00 3.37
135,000 < Balance < = 140,000 2 277,227.42 1.42
140,000 < Balance < = 145,000 4 565,029.17 2.89
145,000 < Balance < = 150,000 4 589,785.28 3.02
150,000 < Balance < = 200,000 16 2,720,781.23 13.93
200,000 < Balance < = 250,000 7 1,561,928.34 8.00
250,000 < Balance < = 300,000 2 555,020.13 2.84
300,000 < Balance < = 350,000 3 956,663.62 4.90
350,000 < Balance < = 400,000 4 1,473,001.98 7.54
--- -------------- ------
Total........................ 183 $19,529,267.52 100.00%
--- -------------- ------
--- -------------- ------
</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>
CURRENT MORTGAGE LOAN AMOUNTS
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
CURRENT NUMBER OF UNPAID AGGREGATE
MORTGAGE LOAN MORTGAGE PRINCIPAL PRINCIPAL
PRINCIPAL BALANCE LOANS BALANCE BALANCE
---------------- ----------- --------------
15,000 < Balance < = 20,000 2 33,600.00 0.17
20,000 < Balance < = 25,000 2 46,750.00 0.24
25,000 < Balance < = 30,000 4 111,900.00 0.57
30,000 < Balance < = 35,000 4 128,024.56 0.66
35,000 < Balance < = 40,000 3 116,536.24 0.60
40,000 < Balance < = 45,000 7 301,774.39 1.55
45,000 < Balance < = 50,000 5 239,678.72 1.23
50,000 < Balance < = 55,000 11 579,765.69 2.97
55,000 < Balance < = 60,000 5 289,213.85 1.48
60,000 < Balance < = 65,000 13 825,019.54 4.22
65,000 < Balance < = 70,000 12 816,805.45 4.18
70,000 < Balance < = 75,000 5 361,229.58 1.85
75,000 < Balance < = 80,000 9 695,350.00 3.56
80,000 < Balance < = 85,000 4 334,958.19 1.72
85,000 < Balance < = 90,000 10 879,542.09 4.50
90,000 < Balance < = 95,000 5 467,591.39 2.39
95,000 < Balance < = 100,000 2 192,615.00 0.99
100,000 < Balance < = 105,000 7 715,106.70 3.66
105,000 < Balance < = 110,000 5 544,180.27 2.79
110,000 < Balance < = 115,000 7 787,305.08 4.03
115,000 < Balance < = 120,000 6 701,095.18 3.59
120,000 < Balance < = 125,000 4 493,708.20 2.53
125,000 < Balance < = 130,000 4 510,030.23 2.61
130,000 < Balance < = 135,000 5 658,050.00 3.37
135,000 < Balance < = 140,000 2 277,227.42 1.42
140,000 < Balance < = 145,000 4 565,029.17 2.89
145,000 < Balance < = 150,000 4 589,785.28 3.02
150,000 < Balance < = 200,000 16 2,720,781.23 13.93
200,000 < Balance < = 250,000 7 1,561,928.34 8.00
250,000 < Balance < = 300,000 2 555,020.13 2.84
300,000 < Balance < = 350,000 3 956,663.62 4.90
350,000 < Balance < = 400,000 4 1,473,001.98 7.54
---------- ------------- ----------
Total........................ 183 $ 19,529,267.52 100.00%
---------- --------------- ---------
---------- --------------- ---------
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>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
STATE LOANS BALANCE BALANCE
- --------------------- ------------- ---------------- -------------
<S> <C> <C> <C>
AZ................... 3 462,399.75 2.37
CA................... 15 3,085,265.85 15.80
CO................... 3 391,872.24 2.01
DC................... 1 114,846.09 0.59
FL................... 8 830,127.50 4.25
GA................... 2 91,850.00 0.47
IL................... 24 3,006,382.47 15.39
IN................... 13 952,702.89 4.88
KS................... 2 58,200.00 0.30
KY................... 4 376,059.54 1.93
LA................... 2 187,850.00 0.96
MD................... 5 684,821.48 3.51
MI................... 32 3,392,959.92 17.37
NC................... 8 817,885.33 4.19
NV................... 1 139,927.42 0.72
OH................... 38 2,603,536.29 13.33
OR................... 2 274,755.64 1.41
SC................... 1 70,979.58 0.36
TN................... 10 1,041,923.80 5.34
TX................... 1 69,711.81 0.36
UT................... 2 193,089.71 0.99
VA................... 3 416,763.78 2.13
WA................... 1 68,000.00 0.35
WI................... 2 197,356.43 1.01
--- ---------------- ------
Total................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
PROPERTY TYPE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Condominiums......................... 2 77,936.24 0.40
Manufactured Housing................. 2 139,400.00 0.71
PUD.................................. 4 383,052.47 1.96
Single Family Attached............... 1 16,000.00 0.08
Single Family Detached............... 166 17,952,357.70 91.93
Townhouse............................ 3 552,230.80 2.83
Two to Four Family................... 5 408,290.31 2.09
--- ---------------- ------
Total................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN SUMMARY STRATIFIED BY
LOAN PURPOSE
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Purchase................................ 62 7,562,237.08 38.72
Refinance/No ETO........................ 20 1,559,118.62 7.98
Refinance/ETO........................... 80 8,417,135.58 43.10
Debt Consolidation...................... 21 1,990,776.24 10.19
--- ---------------- ------
Total................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
OWNER OCCUPANCY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Owner Occ............................ 171 18,851,290.89 96.53
Investor............................. 11 611,635.63 3.13
Second Home.......................... 1 66,341.00 0.34
--- ---------------- ------
Total................................ 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN SUMMARY STRATIFIED BY
DOCUMENTATION LEVEL
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
Full Documentation.................. 171 18,052,906.81 92.44
Limited Documentation............... 12 1,476,360.71 7.56
--- ---------------- ------
Total............................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
LOAN TYPE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- ---------------
<S> <C> <C> <C>
6M LIBOR................................ 25 3,238,044.42 16.58
2/6 LIBOR............................... 158 16,291,223.10 83.42
------------- ---------------- ---------------
Total................................... 183 $ 19,529,267.52 100.00%
------------- ---------------- ---------------
------------- ---------------- ---------------
</TABLE>
PREPAYMENT PENALTY SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No.......................................... 55 6,517,130.91 33.37
Yes......................................... 128 13,012,136.61 66.63
--- ---------------- ------
Total....................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
SECTION 32 SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
No......................................... 180 19,405,310.71 99.37
Yes........................................ 3 123,956.81 0.63
--- ---------------- ------
Total...................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</TABLE>
LOAN GRADE SUMMARY
<TABLE>
<CAPTION>
PERCENTAGE OF
AGGREGATE CUT-OFF DATE
NUMBER OF UNPAID AGGREGATE
MORTGAGE PRINCIPAL PRINCIPAL
LOANS BALANCE BALANCE
------------- ---------------- -------------
<S> <C> <C> <C>
A+......................................... 34 3,584,619.09 18.36
A.......................................... 51 6,485,542.96 33.21
B.......................................... 80 8,057,650.27 41.26
C.......................................... 18 1,401,455.20 7.18
--- ---------------- ------
Total...................................... 183 $ 19,529,267.52 100.00%
--- ---------------- ------
--- ---------------- ------
</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>
- ----------------------------------------------------------------
- EQHEL 1997-4
- Cut Off Date of Tape is 11/1/97
- 6M LIBOR LOANS
- $3,238,044.42
- ----------------------------------------------------------------
Number of Mortgage Loans:.................... 25
Lien Status:................................. First Lien Loans
Index:....................................... 6 MONTH LIBOR
Aggregate Unpaid Principal Balance:.......... $3,238,044.42
Aggregate Original Principal Balance:........ $3,238,577.00
- ---------------------------------------------------------------
Weighted Average Coupon (Gross):............. 8.499%
Gross Coupon Range:.......................... 6.500% - 11.000%
Weighted Average Margin (Gross):............. 5.524%
Gross Margin Range:.......................... 3.500% - 8.000%
Weighted Average Life Cap (Gross):........... 15.250%
Gross Life Cap Range:........................ 13.500% - 18.000%
Weighted Average Life Floor (Gross):......... 9.085%
Gross Life Floor Range:...................... 4.950% - 11.000%
- ---------------------------------------------------------------
Average Unpaid Principal Balance:............ $129,521.78
Average Original Principal Balance:.......... $129,543.08
Maximum Unpaid Principal Balance:............ $356,250.00
Minimum Unpaid Principal Balance:............ $40,375.00
Maximum Original Principal Balance:.......... $356,250.00
Minimum Original Principal Balance:.......... $40,375.00
Weighted Avg. Stated Rem. Term (PTD to Mat
Date):..................................... 359.692
Stated Rem Term Range:....................... 357.000 - 360.000
Weighted Average Age (First Pay thru Paid
Thru):..................................... 0.308
Age Range:................................... 0.000 - 3.000
Weighted Average Original Term:.............. 360.000
Original Term Range:......................... 360.000 - 360.000
Weighted Average Original LTV:............... 85.256
Original LTV Range:.......................... 25.000% - 95.000%
Weighted Average Periodic Interest Cap:...... 1.420%
Periodic Interest Cap Range:................. 1.000% - 1.500%
Weighted Average Months to Interest Roll:.... 5.520
Months to Interest Roll Range:............... 2 - 6
Weighted Average Interest Roll Frequency:.... 6.000
Interest Frequency Range:.................... 6 - 6
- -----------------------------------------------------------------
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>
- --------------------------------------------------------------------------
- EQHEL 1997-4
- Cut Off Date of Tape is 11/1/97
- 2/6 LIBOR LOANS
- $16,291,223.10
- --------------------------------------------------------------------------
Number of Mortgage Loans:.................... 158
Lien Status:................................. First Lien Loans
Index:....................................... 6 MONTH LIBOR
Aggregate Unpaid Principal Balance:.......... $16,291,223.10
Aggregate Original Principal Balance:........ $16,296,340.00
- -------------------------------------------------------------------
Weighted Average Coupon (Gross):............. 10.044%
Gross Coupon Range:.......................... 7.750% - 13.190%
Weighted Average Margin (Gross):............. 6.197%
Gross Margin Range:.......................... 4.000% - 9.100%
Weighted Average Life Cap (Gross):........... 16.576%
Gross Life Cap Range:........................ 13.750% - 20.190%
Weighted Average Life Floor (Gross):......... 9.221%
Gross Life Floor Range:...................... 5.000% - 13.190%
- -------------------------------------------------------------------
Average Unpaid Principal Balance:............ $103,109.01
Average Original Principal Balance:.......... $103,141.39
Maximum Unpaid Principal Balance:............ $384,751.98
Minimum Unpaid Principal Balance:............ $16,000.00
Maximum Original Principal Balance:.......... $385,000.00
Minimum Original Principal Balance:.......... $16,000.00
Weighted Avg. Stated Rem. Term (PTD to Mat
Date):..................................... 357.856
Stated Rem Term Range:....................... 180.000 - 360.000
Weighted Average Age (First Pay thru Paid
Thru):..................................... 0.613
Age Range:................................... 0.000 - 3.000
Weighted Average Original Term:.............. 358.468
Original Term Range:......................... 180.000 - 360.000
Weighted Average Original LTV:............... 80.413
Original LTV Range:.......................... 30.000% - 95.240%
Weighted Average Periodic Interest Cap:...... 1.385%
Periodic Interest Cap Range:................. 1.000% - 1.500%
Weighted Average Months to Interest Roll:.... 22.761
Months to Interest Roll Range:............... 21 - 24
Weighted Average Interest Roll Frequency:.... 6.000
Interest Frequency Range:.................... 6 - 6
- ----------------------------------------------------------------------------
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.
