SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: September 8, 2000
(Date of earliest event reported)
Residential Funding Mortgage Securities II, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-362244 41-1955181
--------------- ----------- -----------
(State or Other Juris- (Commission (I.R.S.Employer
diction of Incorporation) File Number) Identification No.)
8400 Normandale Lake Blvd., Suite 600, Minneapolis, Minnesota 55437
------------------------------------------------------------- -----
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code:(952) 832-7000
--------------
<PAGE>
Item 5. Other Events.
On or about September 6, 2000, the Registrant expects to cause
the issuance and sale of Home Equity Loan Backed Term Notes, Series 2000
HS1 (the "Term") pursuant to an Indenture to be dated as of September
28, 2000, between Home Equity Loan Trust 2000 HS1 as Issuer and The
Chase Manhattan Bank, as Indenture Trustee.
In connection with the expected sale of the Series 2000-HS1 Term
Notes, the Registrant has been advised by Residential Funding Securities
Corporation (the "Underwriter"), that the Underwriter has furnished to
prospective investors certain collateral information with respect to the
revolving credit loans (the "Revolving Credit Loans") underlying the
proposed offering of the Term Notes, which Collateral Term Sheets are
being filed electronically as exhibits to this report.
The Collateral Term Sheets have been provided by the Underwriter.
The information in the Collateral Term Sheets is preliminary and will be
superseded by the Description of the Mortgage Pool contained in the
Prospectus Supplement relating to the Term Notes and by any other
information subsequently filed with the Securities and Exchange
Commission.
The Collateral Term Sheets were prepared by the Underwriters at
the request of certain prospective investors. The Collateral Term Sheets
may be based on information that differs from the information set forth
in the Prospectus Supplement.
In addition, the actual characteristics and performance of the
Revolving Credit Loans underlying the Term Notes may differ from the
information provided in the Collateral Term Sheets, which were provided
to certain investors only to give a sense of the underlying collateral
which will affect the maturity, interest rate sensitivity and cash flow
characteristics of the Term Notes. Any difference between the collateral
information in the Collateral Term Sheets and the actual characteristics
of the Revolving Credit Loans will affect the actual yield, average
life, duration, expected maturity, interest rate sensitivity and cash
flow characteristics of the Term Notes.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
Exhibit No. Item 601(a) of Description
Regulation S-K
Exhibit No.
1 99 Collateral Term Sheets
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the Registrant
by the undersigned thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
By: /s/ Lisa Lundsten
Name: Lisa Lundsten
Title: Vice President
Dated: September 8, 2000
<PAGE>
EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Format
1 99 Collateral Term Sheets Electronically
<PAGE>
EXHIBIT 1
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Equity Loan Backed Term Notes, Series 2000-HS1
This information was prepared for informational purposes only. It is not an
offer to buy or sell any MBS/ABS instrument. In the event of such offering, this
information is deemed superseded & amended entirely by a Prospectus or
Prospectus Supplement. The information herein supersedes any previous term sheet
and computational materials. It is not an official confirmation of terms and is
based on information generally available to the public from sources believed to
be reliable. No representation is made of accuracy or completeness or that any
returns indicated will be achieved. Any changes to assumptions may have a
material impact on returns. Past performance is not indicative of future
results. The related security may only be transferred in accordance with U.S. or
other relevant securities laws and according to the terms of such security. --
Residential Funding Corporation and affiliates, Residential Funding Securities
Corporation and RFSC International Limited.
[GRAPHIC OMITTED]
RFMSII 2000-HS1
[$ 138,370,000] 1 Mo LIBOR Term Notes
Variable Funding Notes - Not Discussed Herein
Residential Funding Securities Corporation
as underwriter
<PAGE>
GMAC / RFC
RESIDENTIAL FUNDING CORPORATION
The following collateral description is based on a preliminary pool. The
collateral / rep lines that were modeled for the yield tables are reasonable
approximations of the final pool, based on the preliminary pool. The final pool
will be available in September 2000. All information reported here is subject to
a 10% + / - variance on the final collateral pool.
<PAGE>
--------------------------------------------------------------------------------
1. Portfolio Summary
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Number of Loans: 3,819
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Credit Line: $183,094,643.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Current Balance: $136,995,402.51
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Average Credit Line: $47,943.09
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Minimum Credit Line: $8,900.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Maximum Credit Line: $350,000.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Average Current Balance: $35,872.06
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Minimum Current Balance: $0.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Maximum Current Balance: $290,000.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
WA Gross Coupon: 9.016%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Minimum Gross Coupon: 5.990%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Maximum Gross Coupon: 14.750%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
WA Remaining Term: 214.53
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Minimum Remaining Term: 112.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Maximum Remaining Term: 353.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
WA CLTV: 81.2%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Minimum CLTV: 12.5%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Maximum CLTV: 100.0%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
WA Credit Score: 722.90
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Minimum Credit Score: 610.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Maximum Credit Score: 818.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Non-Zero Weighted Averages
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
2. Current Balance ($)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
$ Current # of % Gross Net Net Gross Roll % WA
Cur
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
Current Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Balance ($)
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0 - 24,999 22,274,653 1,603 16.3 9.234 8.654 1.232 19.233 2.06 81.8
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
25,000 - 50,389,838 1,408 36.8 9.016 8.436 1.357 19.4 2.088 82.8
49,999
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
50,000 - 27,776,311 466 20.3 9.086 8.506 1.169 19.805 2.049 83.3
74,999
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
75,000 - 18,344,419 207 13.4 9.298 8.718 1.134 19.939 1.841 82
99,999
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
100,000 - 7,518,278 72 5.5 8.17 7.59 0.752 19.938 2.419 76.6
124,999
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
125,000 - 3,006,800 22 2.2 8.413 7.833 0.355 20.726 1.951 73.7
149,999
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
150,000 - 2,575,391 16 1.9 8.351 7.771 0.59 18.81 2.671 72.3
174,999
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
175,000 - 2,475,129 13 1.8 8.922 8.342 0.377 19.393 1.836 65.7
199,999
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
200,000 >= 2,634,584 12 1.9 8.321 7.741 0.776 20.277 3.036 63.6
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
------------ ----------- ------ ----- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
3. Documentation
------------------------------------------------------------------------------------------
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
% WA % WA % WA % WA WA
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
$ Current # of % Cur Gross Net Net Gross Roll % WA
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
Documentation Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
Full Doc 129,683,814 3,595 94.7 9.05 8.47 1.2 19.623 2.075 82.3
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
Stated Doc 7,311,589 224 5.3 8.414 7.834 0.651 19.045 2.204 62.5
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
------------ ----------- ------- ------ -------- -------- -------- -------- ------- ------
------------------------------------------------------------------------------------------
4. Fico Score
------------------------------------------------------------------------------------------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
Fico Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Score
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
600 - 619 244,914 5 0.2 12.346 11.766 2.266 21.939 1 84.6
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
620 - 639 1,837,918 85 1.3 9.296 8.716 2.672 18.932 2.019 79.1
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
640 - 659 7,050,118 225 5.1 9.249 8.669 2.314 19.402 2.316 83.9
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
660 - 679 10,735,599 301 7.8 9.275 8.695 2.334 19.611 1.983 84.4
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
680 - 699 21,792,136 583 15.9 9.406 8.826 1.219 19.876 2.032 82.1
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
700 - 719 21,970,128 549 16 9.016 8.436 1.085 19.551 2.175 79.8
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
720 - 739 23,079,682 645 16.8 9.157 8.577 1.01 19.696 2.075 83.6
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
740 - 759 21,432,663 598 15.6 8.8 8.22 0.856 19.555 2.084 81
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
760 - 779 18,492,139 524 13.5 8.637 8.057 0.739 19.539 1.991 77.9
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
780 - 799 8,585,321 263 6.3 8.519 7.939 0.757 19.204 2.067 79
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
800 >= 1,774,784 41 1.3 8.123 7.543 0.694 19.103 2.53 76.7
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
Total: 136,995,4033,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
5. Gross Interest Rate
------------------------------------------------------------------------------------------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
Gross Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Interest
Rate
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
29,488,791 751 21.5 5.99 5.41 1.272 18.501 1.544 81.6
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
8.000 - 37,623 1 0 8.25 7.67 0.42 18 1 75
8.499
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
8.500 - 53,845,928 1,533 39.3 8.5 7.92 1.16 19.523 3.385 80.4
8.999
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
9.500 - 11,209,282 271 8.2 9.57 8.99 -0.496 22.35 1.023 71.4
9.999
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
10.000 - 8,053,025 221 5.9 10.127 9.547 0.067 20.336 1.11 70.2
10.499
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
10.500 - 6,534,941 194 4.8 10.628 10.048 0.548 20.802 1.053 75.7
10.999
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
11.000 - 5,784,427 191 4.2 11.175 10.595 1.095 19.957 1.114 82.9
11.499
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
11.500 - 4,700,379 146 3.4 11.618 11.038 1.546 19.242 1.158 88
11.999
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
12.000 - 6,404,276 189 4.7 12.18 11.6 2.1 18.985 1.061 94.7
12.499
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
12.500 - 3,277,346 102 2.4 12.663 12.083 2.583 19.303 1.04 92.6
12.999
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
13.000 - 4,430,833 115 3.2 13.217 12.637 3.137 18.935 1.038 95.9
13.499
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
13.500 - 1,733,704 57 1.3 13.671 13.091 3.591 18.7 1.045 95.4
13.999
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
14.000 - 1,101,940 31 0.8 14.072 13.492 3.992 19.738 1.045 94.6
14.499
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
14.500 - 392,909 17 0.3 14.525 13.945 4.445 18.639 1.126 90
14.999
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
Total: 136,995,4033,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
6. CLTV
------------------------------------------------------------------------------------------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
CLTV Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
0.01 - 5,721,534 154 4.2 8.562 7.982 0.369 19.694 1.949 39.6
50.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
50.01 - 6,314,159 148 4.6 8.47 7.89 0.192 19.671 2.213 55.5
60.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
60.01 - 12,371,969 301 9 8.794 8.214 0.245 19.925 2.11 65.7
70.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
70.01 - 39,333,773 1,076 28.7 8.674 8.094 0.149 20.197 2.095 77
80.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
80.01 - 6,720,727 197 4.9 8.994 8.414 1.618 19.515 1.985 83
85.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
85.01 - 33,165,784 1,028 24.2 8.825 8.245 1.576 19.208 2.137 89.2
90.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
90.01 - 23,515,101 649 17.2 8.903 8.323 2.45 19.031 2.301 94.3
95.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
95.01 - 9,852,357 266 7.2 12.204 11.624 2.777 19.319 1.35 99.2
100.00
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
Total: 136,995,4033,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
7. Gross Ceiling Rate
------------------------------------------------------------------------------------------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
Gross Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Ceiling
Rate
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
193,798 7 0.1 9.208 8.628 2.314 10 1 94.5
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
13.751 - 456,661 13 0.3 10.095 9.515 1.855 14 1.748 85.7
14.000
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
15.751 - 486,008 15 0.4 9.857 9.277 1.15 16 2.624 84
16.000
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
17.751 - 98,142,734 2,804 71.6 8.827 8.247 1.329 18 2.11 82
18.000
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
19.751 - 54,700 2 0 8.5 7.92 1.117 20 4.282 89.3
20.000
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
20.001 >= 37,661,502 978 27.5 9.485 8.905 0.744 23.869 2.01 79.1
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
Total: 136,995,4033,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------ -------- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
8. Net Margin Rate
------------------------------------------------------------------------------------------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Net Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Margin
Rate
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
37,664,998 950 27.5 8.717 8.137 -0.208 20.542 2.003 70.4
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
0.251 - 18,945,893 563 13.8 8.532 7.952 0.463 19.557 2.24 71
0.750
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
0.751 - 20,193,770 608 14.7 8.608 8.028 0.964 19.263 2.186 81.5
1.250
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
1.251 - 19,898,931 535 14.5 8.795 8.215 1.493 19.286 2.237 88.1
1.750
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
1.751 - 13,094,367 383 9.6 9.482 8.902 2.033 18.801 1.887 92.7
2.250
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
2.251 - 10,240,690 290 7.5 9.382 8.802 2.521 19.198 1.996 90.5
2.750
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
2.751 - 8,463,103 222 6.2 10.453 9.873 3.089 19.095 1.796 94.4
3.250
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
3.251 - 5,255,054 160 3.8 9.981 9.401 3.5 19.019 2.338 93.3
3.750
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
3.751 - 2,483,615 80 1.8 10.584 10.004 3.96 19.486 1.897 93.8
4.250
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
4.251 - 613,294 25 0.4 12.611 12.031 4.424 18.959 1.971 91.2
4.750
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
4.751 - 100,100 2 0.1 8.5 7.92 4.92 18 1.191 94
5.250
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
5.251 - 41,587 1 0 8.5 7.92 5.42 18 1 87
5.750
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
9. Occupancy Status
------------------------------------------------------------------------------------------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Occupancy Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Status
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Primary 135,908,494 3,778 99.2 9.003 8.423 1.165 19.587 2.085 81.3
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Second 328,978 15 0.2 8.688 8.108 0.496 19.11 2.338 70.8
Home
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Investment 757,931 26 0.6 11.594 11.014 2.354 20.702 1.552 81.4
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
10. Credit Line
------------------------------------------------------------------------------------------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Credit Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Line
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
14,488,619 963 10.6 9.133 8.553 1.51 19.009 2.109 83.6
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
25,001 - 106,533,258 2,710 77.8 9.064 8.484 1.227 19.623 2.052 82.6
100,000
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
100,001 14,191,018 137 10.4 8.63 8.05 0.416 20.154 2.264 71.5
- 200,000
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
200,001 1,035,584 6 0.8 7.715 7.135 0.682 18 2.859 66.1
- 252,700
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
252,701 564,275 2 0.4 8.668 8.088 2.062 18 1.486 49.7
- 300,000
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
300,001 182,649 1 0.1 10 9.42 -0.080 18 1 56.2
- 400,000
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
11. Product Type
------------------------------------------------------------------------------------------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Product Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Type
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
15 Year 52,187,371 1,354 38.1 9.401 8.821 0.846 22.205 2.104 79.2
Balloon
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
15 Year 40,723,703 1,157 29.7 9.213 8.633 1.767 17.981 1.998 85.5
Term
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
25 Year 44,045,145 1,307 32.2 8.374 7.794 1.002 17.985 2.136 79.7
Term
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
30 Year 39,184 1 0 13.5 12.92 3.42 18 1 95
Term
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
12. Property Type
------------------------------------------------------------------------------------------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Property Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
Type
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Single 105,926,081 2,965 77.3 9.073 8.493 1.11 19.672 2.1 80.5
Family
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Townhouse 788,122 26 0.6 9.416 8.836 1.364 18.405 1.504 77.8
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Condo 5,802,234 184 4.2 9.255 8.675 1.497 19.194 2.138 83.9
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Manufactured 70,554 3 0.1 7.687 7.107 0.677 18 3.028 85.7
Housing
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Planned 23,032,955 598 16.8 8.604 8.024 1.332 19.395 2.043 84.1
Unit
Development
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Mobile 29,608 1 0 8.5 7.92 0.42 18 1 80
Home
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
2 - 4 1,216,964 38 0.9 10.457 9.877 1.654 19.131 1.47 81.4
Family
Units
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Other 128,884 4 0.1 10.011 9.431 2.1 19.757 1.078 84.2
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ----------- ------- ------ -------- -------- ------- -------- -------- --------
------------------------------------------------------------------------------------------
13. States
------------------------------------------------------------------------------------------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
% WA % WA % WA % WA WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
$ Current # of % Cur Gross Net Net Gross Roll % WA
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
States Balance Loans Bal Coupon Coupon Margin Ceiling Month CLTV
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
CA 60,446,528 1,407 44.1 9.046 8.466 1.082 19.998 1.833 80.8
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
NJ 10,001,860 305 7.3 8.848 8.268 0.976 19.712 3.018 79.3
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
CO 7,864,259 212 5.7 8.857 8.277 1.003 18.018 2.238 81
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
GA 6,703,660 221 4.9 8.602 8.022 1.627 19.113 1.759 88
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
FL 6,494,047 227 4.7 8.862 8.282 1.526 18.023 1.816 83.8
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
MI 5,063,518 147 3.7 8.856 8.276 1.721 18 2.502 79
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
MA 4,568,354 120 3.3 8.915 8.335 1.092 18 2.148 78.3
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
UT 4,378,678 151 3.2 9.107 8.527 1.204 18.909 2.498 78.5
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
NY 4,030,699 103 2.9 9.117 8.537 1.119 19.956 2.167 78.4
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
WA 3,211,048 95 2.3 9.363 8.783 1.527 21.212 1.732 83.3
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
AZ 3,157,006 94 2.3 8.732 8.152 1.428 22.223 2.323 81.8
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Other 21,075,744 737 15.4 9.26 8.68 1.119 19.745 2.28 82.5
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
Total: 136,995,403 3,819 100 9.016 8.436 1.17 19.592 2.082 81.2
---------- ---------- ------- ------- -------- -------- ------- -------- -------- --------
</TABLE>
<PAGE>
