[GRAPHIC OMITTED] BEAR, STEARNS & CO. INC.
ATLANTA o BOSTON o CHICAGO ASSET-BACKED SECURITIES GROUP
DALLAS o LOS ANGELES o NEW YORK o SAN FRANCISCO 245 Park Avenue
FRANKFORT o GENEVA o HONG KONG New York, N.Y. 10167
LONDON o PARIS o TOKYO (212) 272-2000; (212) 272-7294 fax
-------------------------------------------------------------------------------
New Issue Computational Materials
$575,000,000 (Approximate)
Home Loan-Backed Notes,
Series 2000-HI5
Residential Funding Mortgage Securities II, Inc.
Depositor
Home Loan Trust 2000-HI5
Issuer
Residential Funding Corporation
Seller and Master Servicer
December 4, 2000
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES, AND OTHER
INFORMATION
The information contained in the attached materials (the "Information") may
include various forms of performance analysis, security characteristics and
securities pricing estimates for the securities addressed. Please read and
understand this entire statement before utilizing the Information. Should you
receive Information that refers to the "Statement Regarding Assumptions and
Other Information," please refer to this statement instead.
The Information is illustrative and is not intended to predict actual results
which may differ substantially from those reflected in the Information.
Performance analysis is based on certain assumptions with respect to significant
factors that may prove not to be as assumed. You should understand the
assumptions and evaluate whether they are appropriate for your purposes.
Performance results are based on mathematical models that use inputs to
calculate results. As with all models, results may vary significantly depending
upon the value of the inputs given. Inputs to these models include but are not
limited to: prepayment expectations (economic prepayment models, single expected
lifetime prepayments or a vector of periodic prepayments), interest rate
assumptions (parallel and nonparallel changes for different maturity
instruments), collateral assumptions (actual pool level data, aggregated pool
level data, reported factors or imputed factors), volatility assumptions
(historically observed or implied current) and reported information (paydown
factors, rate resets, and trustee statements). Models used in any analysis may
be proprietary making the results difficult for any third party to reproduce.
Contact your registered representative for detailed explanations of any modeling
techniques employed in the Information.
The Information addresses only certain aspects of the applicable security's
characteristics and thus does not provide a complete assessment. As such, the
Information may not reflect the impact of all structural characteristics of the
security, including call events and cash flow priorities at all prepayment
speeds and/or interest rates. You should consider whether the behavior of these
securities should be tested as assumptions different from those included in the
Information. The assumptions underlying the Information, including structure and
collateral, may be modified from time to time to reflect changed circumstances.
Any investment decision should be based only on the data in the prospectus and
the prospectus supplement or private placement memorandum (Offering Documents)
and the then current version of the Information. Offering Documents contain data
that is current as of their publication dates and after publication may no
longer be complete or current. Contact your registered representative for
Offering Documents, current Information or additional materials, including other
models for performance analysis, which are likely to produce different results,
and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent
our view, at the time determined, of the investment value of the securities
between the estimated bid and offer levels, the spread between which may be
significant due to market volatility or illiquidity, (b) do not constitute a bid
by any person for any security, (c) may not constitute prices at which the
securities could have been purchased or sold in any market, (d) have not been
confirmed by actual trades, may vary from the value Bear Stearns assigns any
such security while in its inventory, and may not take into account the size of
a position you have in the security, and (e) may have been derived from matrix
pricing that uses data relating to other securities whose prices are more
readily ascertainable to produce a hypothetical price based on the estimated
yield spread relationship between the securities.
General Information: The data underlying the Information has been obtained from
sources that we believe are reliable, but we do not guarantee the accuracy of
the underlying data or computations based thereon. Bear Stearns. and/or
individuals thereof may have positions in these securities while the Information
is circulating or during such period may engage in transactions with the issuer
or its affiliates. We act as principal in transactions with you, and
accordingly, you must determine the appropriateness for you of such transactions
and address any legal, tax, or accounting considerations applicable to you. Bear
Stearns shall not be a fiduciary or advisor unless we have agreed in writing to
receive compensation specifically to act in such capacities. If you are subject
to ERISA, the Information is being furnished on the condition that it will not
form a primary basis for any investment decision. The Information is not a
solicitation of any transaction in securities which may be made only by
prospectus when required by law, in which event you may obtain such prospectus
from Bear Stearns.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
<TABLE>
<CAPTION>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 1 of 6)
--------------------------------------------------------------------------------
$575,000,000 (Approximate)
<S> <C> <C>
Issuer: Home Loan Trust 2000-HI5
Depositor: Residential Funding Mortgage Securities II, Inc.
Seller: Residential Funding Corporation
Credit Enhancer: Ambac Assurance Corporation ("Ambac")
Underwriter: Lead Manager: Bear, Stearns & Co. Inc.
Co-Managers: Residential Funding Securities Corporation;
Salomon Smith Barney
Master Servicer: Residential Funding Corporation (the "Master Servicer"
or "RFC").
Initial Subservicer: GMAC Mortgage Corporation ("GMACMC"), an affiliate of
the Depositor.
Indenture Trustee: The Chase Manhattan Bank
Owner Trustee: Wilmington Trust Company
The Notes: Home Loan Trust 2000-HI5 will issue 8
classes of Home Loan-Backed Notes (namely,
the Class A-I-1, Class A-I-2, Class A-I-3,
Class A-I-4, Class A-I-5, Class A-I-6, Class
A-I-7 and Class A-II Notes (the "Notes")).
Characteristics of the Notes (a), (b), (c), (d), (e)
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Home Original Avg Principal PrincipalFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months) (months) Maturity (Moody's/S&P)
(years) Date
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Class I $116,305,000 Fixed 0.90 None 19 5/25/09 Aaa / AAA
A-I-1
Class I 56,395,000 Fixed 2.00 18 10 8/25/11 Aaa / AAA
A-I-2
Class I 81,213,000 Fixed 3.00 27 17 1/25/14 Aaa / AAA
A-I-3
Class I 37,298,000 Fixed 4.00 43 9 12/25/14 Aaa / AAA
A-I-4
Class I 58,603,000 Fixed 5.00 51 17 12/25/16 Aaa / AAA
A-I-5
Class I 88,358,000 Fixed 7.00 67 35 1/25/21 Aaa / AAA
A-I-6
Class I 111,828,000 Fixed 10.82 101 40 12/25/30 Aaa / AAA
A-I-7
Class A-II II 25,000,000 Fixed 5.06 None 141 12/25/30 Aaa / AAA
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Notes:
(a) 100% Prepayment Assumption: 2.0% CPR in month 1 of the Home Loans, and an
additional 0.9286% per annum in each month thereafter until month 15. On and after
month 15, 15.0% CPR.
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement" herein.)
(d) The Note Rate applicable to the Class A-I-7 Notes and the Class A-II Notes will
increase by 0.50% if the 10% clean-up call is not exercised.
(e) The principal balance of each Class of Notes is subject to a 5% variance.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 2 of 6)
--------------------------------------------------------------------------------
The Assets of the Trust: The assets of the Trust will include two groups of
conventional, closed-end, second-lien, fixed-rate home
loans (the "Home Loans"), the proceeds of which will be
used primarily for debt consolidation and/or home
improvements. The Home Loans will be secured by
mortgages, deeds of trust or other similar security
instruments. Substantially all of the Home Loans will
have a combined loan-to-value ratio in excess of 100%.
Statistical Cut-off Date: As of November 28, 2000.
Cut-off Date: As of December 1, 2000.
Closing Date: On or about December 21, 2000.
Payment Date: The 25th of each month (or the next business day),
commencing on January 25, 2001.
Delay Days: The Notes will have a payment delay of 24 days.
Note Rate: Interest will accrue on all of the Notes at a fixed rate
during the month prior to the month of the related
Payment Date on a 30/360-day basis.
The Note Rate applicable to the Class A-I-7
Notes and Class A-II Notes will increase by
0.50% after the Step-Up Date. The "Step-Up
Date" is the first Payment Date after which
the current Pool Principal Balance declines
to 10% or less of the original Pool
Principal Balance of the Home Loans.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 3 of 6)
----------------------------------------------------------------------------------------------
Principal: Payments of principal will be distributed concurrently
to (a) the Class A-I Notes in the aggregate and (b) the
Class A-II Notes, in each case allocated in proportion
to the percentage of the principal collections derived
from the related loan group for such payment date, until
the note balances of the Class A-I Notes in the
aggregate or the Class A-II Notes have been reduced to
zero. From then on, these amounts will be distributed
to the remaining class or classes of Class A Notes until
their note balances have been reduced to zero.
Any payments of principal allocable to the
Class A-I Notes shall be paid to the Class
A-I-1 Notes, the Class A-I-2 Notes, the
Class A-I-3 Notes, the Class A-I-4 Notes,
the Class A-I-5 Notes, the Class A-I-6
Notes, and the Class A-I-7 Notes, in that
order, in each case until the outstanding
note balance of each of these notes has been
reduced to zero.
Any payments of principal allocable to the
Class A-II Notes shall be paid to the Class
A-II Notes until the outstanding note
balance has been reduced to zero.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 4 of 6)
----------------------------------------------------------------------------------------------
Priority of Payments: On each Payment Date, principal and interest collections
will be allocated from the payment account in the following order of
priority:
(1) To pay accrued interest due on the Notes;
(2) To pay as principal on the Notes, an amount equal to the principal
collection distribution amount for such Payment Date;
(3) To pay as principal on the Notes, an amount equal to the liquidation loss
distribution amount for such Payment Date;
(4) To pay the Credit Enhancer the premium for the Policy, any previously
unpaid premiums for the Policy with interest and any payments in connection
with the limited reimbursement agreement;
(5) To reimburse the Credit Enhancer for certain prior draws made on the
Policy, with interest;
(6) To pay as additional principal on the Notes, an amount (if any) necessary
to bring the amount of overcollateralization up to the required
overcollateralization amount for such Payment Date;
(7) To pay the Credit Enhancer any other amounts owed under the insurance
agreement; and (8) To pay any remaining amounts to the holders of the
Certificates.
Credit Enhancement: Credit enhancement with respect to the Notes will be
provided by (1) Excess Spread, (2) Overcollateralization, and (3) the Ambac
Insurance Policy.
Excess Spread: The interest due on the Home Loans is generally
expected to be higher than the interest due on the Notes and
other fees and expenses of the Trust, resulting in excess
interest collections ("Excess Spread"), which will be available
to fund distributions on the Notes, commencing with the
Distribution Date in February 2001. Such amount can vary over
time based on the prepayment and default experience of the Home
Loans. On each Payment Date, other than the first Payment Date,
any Excess Spread from the related collection period will be
available to cover losses and build overcollateralization on such
Payment Date.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 5 of 6)
--------------------------------------------------------------------------------
Overcollateralization: The initial overcollateralization amount
will be equal to 0.00% of the Original Pool Principal Balance on
the Closing Date. Commencing with the February 2001 Payment Date,
Excess Spread will be applied, to the extent available, to make
accelerated payments of principal to the securities then entitled
to receive payments of principal; such application will cause the
aggregate principal balance of the Notes to amortize more rapidly
than the Home Loans, resulting in a build up of
overcollateralization. Prior to the Stepdown Date, the "Required
Overcollateralization Amount" will be equal to 2.00% of the
original Pool Principal Balance. On or after the Stepdown Date,
the Required Overcollateralization Amount will be permitted,
subject to certain performance triggers being satisfied, to
decrease to 4.00% of current Pool Principal Balance of the Home
Loans, subject to a floor of 0.50% of the original Pool Principal
Balance.
Ambac Insurance Policy: Ambac Assurance Corporation (the "Credit
Enhancer") will unconditionally and irrevocably guarantee: (a)
timely payment of interest, (b) the amount of any losses not
covered by excess spread or overcollateralization, and (c) the
payment of principal on the Notes by no later than their
respective final scheduled maturity date. The Insurance Policy is
not revocable for any reason.
Stepdown Date: The Stepdown Date is the Payment Date occurring on the later of:
(1) the Payment Date in January, 2004 (i.e., on the 37th Payment Date);
and
(2) the first Payment Date on which the current Pool Principal Balance has
been reduced to less than 50% of the original Pool Principal Balance.
Master Servicing Fee: With respect to each Home Loan Group, the primary
compensation to be paid to the Master Servicer in respect of its master
servicing activities will be 0.08% per annum, payable monthly. The fees of
the Trustees will be paid from the Master Servicing Fee.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 6 of 6)
--------------------------------------------------------------------------------
Subservicing Fee: With respect to each Home Loan Group,
the Trust is subject to certain fees,
including the Subservicing Fee, as of the
Cut-Off Date, of approximately 0.50% per
annum, payable monthly.
Advancing: There is no required advancing of delinquent principal or interest by
the Master Servicer, the Subservicer, the Trustees, the Credit Enhancer or
any other entity.
Optional Redemption: The Master Servicer may, at its option, effect an early
redemption or termination of the Notes on the first Payment Date after the
Payment Date on which the current Pool Principal Balance declines to less
than 10% of the original Pool Principal Balance of the Home Loans (the
"Step-Up Date").
Form of Registration: Book-Entry form, same day funds through DTC, Clearstream
and Euroclear.
Tax Status: For federal income tax purposes, the Notes will be characterized as
indebtedness of the Issuer.
ERISAEligibility: The Notes may be eligible for purchase by employee benefit
plans that are subject to ERISA.
SMMEATreatment: The Notes will not constitute "mortgage related securities" for
purposes of SMMEA.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Notes (Page 1 of 3)
--------------------------------------------------------------------------------
Characteristics of the Notes (a), (b), (c), (d), (e)
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Home Original Avg Principal PrincipalFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months) (months) Maturity (Moody's/S&P)
(years) Date
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Class I $116,305,000 Fixed 0.90 None 19 5/25/09 Aaa / AAA
A-I-1
Class I 56,395,000 Fixed 2.00 18 10 8/25/11 Aaa / AAA
A-I-2
Class I 81,213,000 Fixed 3.00 27 17 1/25/14 Aaa / AAA
A-I-3
Class I 37,298,000 Fixed 4.00 43 9 12/25/14 Aaa / AAA
A-I-4
Class I 58,603,000 Fixed 5.00 51 17 12/25/16 Aaa / AAA
A-I-5
Class I 88,358,000 Fixed 7.00 67 35 1/25/21 Aaa / AAA
A-I-6
Class I 111,828,000 Fixed 10.82 101 40 12/25/30 Aaa / AAA
A-I-7
Class A-II II 25,000,000 Fixed 5.06 None 141 12/25/30 Aaa / AAA
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Notes:
(a) 100% Prepayment Assumption: 2.0% CPR in month 1 of the Home Loans, and an
additional 0.9286% per annum in each month thereafter until month 15. On and after
month 15, 15.0% CPR.
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement" herein.)
(d) The Note Rate applicable to the Class A-I-7 Notes and the Class A-II Notes will
increase by 0.50% if the 10% clean-up call is not exercised.
(e) The principal balance of each Class of Notes is subject to a 5% variance.
Class A-I-1 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
4.29 1.36 1.07 0.90 0.79 0.72
Modified Duration (years)
3.43 1.24 0.99 0.84 0.74 0.67
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 11/25/08 8/25/03 12/25/02 7/25/02 5/25/02 3/25/02
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 95 32 24 19 17 15
Illustrative Yield @ Par (30/360) 7.149% 6.902% 6.804% 6.719% 6.645% 6.578%
-----------------------------------------------------------------------------------------------
Class A-I-2 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
9.13 3.31 2.47 2.00 1.70 1.49
Modified Duration (years)
6.56 2.87 2.20 1.81 1.56 1.37
First Principal Payment 11/25/08 8/25/03 12/25/02 7/25/02 5/25/02 3/25/02
Last Principal Payment 3/25/11 12/25/04 12/25/03 4/25/03 12/25/02 9/25/02
Principal Lockout (months) 94 31 23 18 16 14
Principal Window (months) 29 17 13 10 8 7
Illustrative Yield @ Par (30/360) 6.971% 6.880% 6.832% 6.786% 6.744% 6.705%
-----------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Notes (Page 2 of 3)
----------------------------------------------------------------------------------------------
Class A-I-3 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
11.61 5.06 3.76 3.00 2.50 2.16
Modified Duration (years)
7.70 4.12 3.20 2.62 2.22 1.94
First Principal Payment 3/25/11 12/25/04 12/25/03 4/25/03 12/25/02 9/25/02
Last Principal Payment 10/25/13 2/25/07 7/25/05 8/25/04 12/25/03 7/25/03
Principal Lockout (months) 122 47 35 27 23 20
Principal Window (months) 32 27 20 17 13 11
Illustrative Yield @ Par (30/360) 7.093% 7.041% 7.008% 6.975% 6.943% 6.913%
-----------------------------------------------------------------------------------------------
Class A-I-4 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
13.31 6.72 5.04 4.00 3.32 2.83
Modified Duration (years)
8.34 5.18 4.10 3.37 2.86 2.49
First Principal Payment 10/25/13 2/25/07 7/25/05 8/25/04 12/25/03 7/25/03
Last Principal Payment 9/25/14 3/25/08 6/25/06 4/25/05 7/25/04 1/25/04
Principal Lockout (months) 153 73 54 43 35 30
Principal Window (months) 12 14 12 9 8 7
Illustrative Yield @ Par (30/360) 7.200% 7.165% 7.141% 7.116% 7.091% 7.066%
-----------------------------------------------------------------------------------------------
Class A-1-5 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
14.46 8.25 6.28 5.00 4.13 3.52
Modified Duration (years)
8.69 6.02 4.89 4.06 3.46 3.01
First Principal Payment 9/25/14 3/25/08 6/25/06 4/25/05 7/25/04 1/25/04
Last Principal Payment 5/25/16 3/25/10 1/25/08 8/25/06 8/25/05 12/25/04
Principal Lockout (months) 164 86 65 51 42 36
Principal Window (months) 21 25 20 17 14 12
Illustrative Yield @ Par (30/360) 7.315% 7.290% 7.272% 7.252% 7.231% 7.210%
-----------------------------------------------------------------------------------------------
Class A-1-6 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
17.86 10.99 8.67 7.00 5.81 4.93
Modified Duration (years)
9.58 7.27 6.18 5.28 4.56 3.99
First Principal Payment 5/25/16 3/25/10 1/25/08 8/25/06 8/25/05 12/25/04
Last Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Principal Lockout (months) 184 110 84 67 55 47
Principal Window (months) 54 44 41 35 30 25
Illustrative Yield @ Par (30/360) 7.505% 7.488% 7.476% 7.462% 7.448% 7.432%
-----------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Notes (Page 3 of 3)
----------------------------------------------------------------------------------------------
Class A-I-7 (to call)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
22.16 15.35 12.87 10.82 9.15 7.84
Modified Duration (years)
10.39 8.76 7.94 7.13 6.37 5.70
First Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Last Principal Payment 11/25/23 6/25/17 10/25/14 9/25/12 12/25/10 7/25/09
Principal Lockout (months) 237 153 124 101 84 71
Principal Window (months) 38 45 42 40 36 32
Illustrative Yield @ Par (30/360) 7.683% 7.674% 7.668% 7.661% 7.652% 7.643%
-----------------------------------------------------------------------------------------------
Class A-II (to call)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
14.59 7.92 6.22 5.06 4.23 3.61
Modified Duration (years)
8.07 5.26 4.41 3.77 3.28 2.89
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 11/25/23 6/25/17 10/25/14 9/25/12 12/25/10 7/25/09
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 275 198 166 141 120 103
Illustrative Yield @ Par (30/360) 7.526% 7.493% 7.474% 7.455% 7.435% 7.415%
-----------------------------------------------------------------------------------------------
Class A-I-7 (to maturity)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
22.61 16.90 14.35 12.18 10.41 8.99
Modified Duration (years)
10.47 9.14 8.36 7.59 6.86 6.21
First Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Last Principal Payment 9/25/25 4/25/25 5/25/24 7/25/22 2/25/20 11/25/17
Principal Lockout (months) 237 153 124 101 84 71
Principal Window (months) 60 139 157 158 146 132
Illustrative Yield @ Par (30/360) 7.687% 7.697% 7.697% 7.696% 7.694% 7.692%
-----------------------------------------------------------------------------------------------
Class A-II (to maturity)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
14.72 8.34 6.62 5.41 4.53 3.88
Modified Duration (years)
8.09 5.36 4.53 3.89 3.40 3.01
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 9/25/25 4/25/25 5/25/24 7/25/22 3/25/20 12/25/17
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 297 292 281 259 231 204
Illustrative Yield @ Par (30/360) 7.527% 7.504% 7.490% 7.475% 7.459% 7.442%
-----------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 1 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
Home Loan Group I II
-----------------------------------------------------------------------------------
Current Balance (as of $526,291,555 $22,148,064
11/28/00)
Loan Count 13,975 380
Average Balance $37,660 $58,284
Maximum Balance $100,000 $100,000
-----------------------------------------------------------------------------------
WA Gross WAC 13.961% 13.452%
Range of Gross Coupons 8.250% to 18.750% 9.125% to 17.490%
WA Net WAC (%) 13.381% 12.872%
WA Remaining Term (mos) 234 255
WA Age (mos) 2 2
WA Orig. Term (mos) 236 257
-----------------------------------------------------------------------------------
Balloon / Fully Amortizing 0.28% / 99.72% 2.08% / 97.92%
First Lien / Second Lien 0.03% / 99.97% 0.00% / 100.00%
-----------------------------------------------------------------------------------
WA Credit Score 696 706
Up to 639 0.01% 0.00%
640 to 679 29.80% 15.81%
680 to 719 50.13% 57.03%
720 to 759 17.85% 23.64%
760 to 799 2.18% 3.52%
800 or greater 0.01% 0.00%
-----------------------------------------------------------------------------------
WA Debt-to-Income Ratio 40.24% 42.12%
Range of Debt-to-Income 12.00% to 50.00% 20.00% to 50.00%
Ratios
WA CLTV 116.20% 113.23%
% CLTVs > 100.00% 93.53% 91.95%
Range of CLTVs 13.00% to 126.00% 12.00% to 125.00%
% of Pool with Prepay 52.95% 54.28%
Penalties
-----------------------------------------------------------------------------------
Property Type
------------------------------ 91.25% 86.17%
Single Family Detached
Planned Unit Development 4.80% 12.67%
Condominium 2.69% 0.29%
Townhouse 0.78% 0.63%
Two to Four Family 0.45% 0.24%
Manufactured Housing 0.02% 0.00%
-----------------------------------------------------------------------------------
Occupancy Status
Owner / Non-Owner Occupied 100.00% / 0.00% 100.00% / 0.00%
Loan Purpose
Debt Consolidation 87.48% 79.59%
Cash Out/Refinance 9.62% 12.52%
DC & HI Combination 1.64% 3.93%
Other 1.26% 3.96%
-----------------------------------------------------------------------------------
Geographic Concentration (>
5%)
CA (9.08%) CA (28.75%)
FL (6.81%) MD (9.03%)
MD (5.68%) VA (6.62%)
WA (5.97%)
-----------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 2 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Home Loan Rates
Range of Number of Statistical Percentage of
Cut-off Date
Loan Rates (%) Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
8.001 to 8.500 1 $29,443.17 0.01%
9.001 to 9.500 3 69,840.33 0.01%
9.501 to 10.000 5 102,915.97 0.02%
10.001 to 10.500 14 335,977.93 0.06%
10.501 to 11.000 21 575,726.69 0.11%
11.001 to 11.500 53 1,686,766.41 0.32%
11.501 to 12.000 445 17,780,358.05 3.38%
12.001 to 12.500 664 27,274,347.40 5.18%
12.501 to 13.000 2,748 109,514,255.21 20.81%
13.001 to 13.500 1,689 69,214,515.26 13.15%
13.501 to 14.000 2,798 108,598,840.16 20.63%
14.001 to 14.500 1,446 54,357,455.49 10.33%
14.501 to 15.000 1,854 66,598,462.77 12.65%
15.001 to 15.500 564 19,527,638.86 3.71%
15.501 to 16.000 270 8,927,842.22 1.70%
16.001 to 16.500 167 5,357,397.21 1.02%
16.501 to 17.000 726 21,403,800.14 4.07%
17.001 to 17.500 253 7,449,499.67 1.42%
17.501 to 18.000 230 6,726,444.94 1.28%
18.001 to 18.500 22 699,039.43 0.13%
18.501 or greater 2 60,988.06 0.01%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Percentage
Cut-off Date of
Home Loan Amounts Home Loans Principal Home Loan
Balance Pool
-------------------- ---------------------------------------------
Up to 2,646 $56,298,176.48 10.70%
$25,000.00
$25,000.01 to 9,219 339,144,894.11 64.44%
$50,000.00
$50,000.01 to 2,092 129,249,721.32 24.56%
$75,000.00
$75,000.01 to 18 1,598,763.46 0.30%
$100,000.00
---------------------------------------------
Total 13,975 $526,291,555.37 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 3 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Combined Loan-to-Value Ratios
Range of Combined Number of Home Statistical Percentage
Cut-off Date of
Loan-to-Value Home Loans Principal Home Loan
Ratios (%) Balance Pool
-------------------- ----------------------------------------------
Up to 70.00 33 $973,810.99 0.19%
70.01 to 75.00 15 486,616.62 0.09%
75.01 to 80.00 71 2,066,031.41 0.39%
80.01 to 85.00 58 1,831,642.42 0.35%
85.01 to 90.00 115 3,480,876.10 0.66%
90.01 to 95.00 285 8,864,564.23 1.68%
95.01 to 100.00 529 16,371,254.59 3.11%
100.01 to 105.00 851 28,734,019.73 5.46%
105.01 to 110.00 1,585 55,918,628.09 10.63%
110.01 to 115.00 2,202 81,263,356.68 15.44%
115.01 to 120.00 2,715 105,224,758.73 19.99%
120.01 to 125.00 5,511 220,781,981.22 41.95%
Greater than 125.00 5 294,014.56 0.06%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Months Remaining to Maturity
Months Remaining Number of Statistical Percentage of
Cut-off Date
to Maturity Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
0 to 96 57 $1,424,748.15 0.27%
97 to 108 12 303,190.70 0.06%
109 to 120 546 16,506,476.25 3.14%
121 to 144 12 422,492.74 0.08%
145 to 156 10 305,839.72 0.06%
157 to 168 65 1,806,730.63 0.34%
169 to 180 6,091 212,213,698.51 40.32%
181 to 288 2,054 81,725,617.53 15.53%
289 to 300 5,079 210,104,015.05 39.92%
Greater than 300 49 1,478,746.09 0.28%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 4 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Year of Origination
Number of Statistical Percentage of
Cut-off Date
Year of Origination Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
1996 2 $63,256.34 0.01%
1997 5 122,413.33 0.02%
1998 26 813,063.46 0.15%
1999 194 5,994,088.63 1.14%
2000 13,748 519,298,733.61 98.67%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Geographic Distribution of Mortgaged Properties
Number of Statistical Percentage of
Cut-off Date
State Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
California 1,149 $47,792,530.63 9.08%
Florida 965 35,829,823.14 6.81%
Maryland 775 29,885,790.57 5.68%
Pennsylvania 724 26,047,986.66 4.95%
Virginia 661 25,214,901.34 4.79%
Ohio 619 22,812,483.32 4.33%
Indiana 576 20,671,164.00 3.93%
Georgia 516 19,419,570.01 3.69%
Illinois 508 19,134,407.87 3.64%
Arizona 459 17,823,722.83 3.39%
Alabama 470 16,862,391.56 3.20%
Michigan 396 14,613,793.67 2.78%
New York 386 14,118,341.69 2.68%
Missouri 377 12,997,522.12 2.47%
Washington 311 12,513,146.16 2.38%
Colorado 279 11,526,771.79 2.19%
Wisconsin 308 11,495,675.20 2.18%
Kansas 305 10,792,316.05 2.05%
Other (<2%) 4,191 156,739,216.76 29.78%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 5 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Debt-to-Income Ratio
Number of Statistical Percentage of
Cut-off Date
Debt-to-Income Ratio Home Loans Principal Home Loan
(%) Balance Pool
--------------------------------------------------------------------
Up to 20.00 77 $2,449,059.34 0.46%
20.01 to 25.00 319 10,882,750.93 2.07%
25.01 to 30.00 1,044 36,321,363.23 6.90%
30.01 to 35.00 2,139 76,005,714.24 14.44%
35.01 to 40.00 3,096 113,122,148.16 21.49%
40.01 to 45.00 4,804 176,274,809.41 33.49%
45.01 to 50.00 2,496 111,235,710.06 21.14%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Credit Scores
Range of Number Statistical Percentage of
Cut-off Date
Credit Scores Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
620 to 639 3 $67,853.14 0.01%
640 to 659 1,217 35,855,413.59 6.81%
660 to 679 3,414 121,009,826.96 22.99%
680 to 699 3,581 136,771,275.71 25.99%
700 to 719 3,064 127,072,000.33 24.14%
720 to 739 1,622 64,585,707.26 12.27%
740 to 759 768 29,389,463.02 5.58%
760 to 779 246 9,329,593.23 1.77%
780 to 799 58 2,150,854.89 0.41%
800 or greater 2 59,567.24 0.01%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 6 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
Loan Group I
Prepay Penalties
Range of Number Statistical Percentage of
Cut-off Date
Prepayment Penalty Home Loans Principal Home Loan
Terms Balance Pool
-------------------- ----------------------------------------------
None 6,712 $247,598,653.30 47.05%
3 months 2 53,888.59 0.01%
6 months 9 263,061.77 0.05%
12 months 235 9,936,210.84 1.89%
24 months 20 812,404.92 0.15%
25 months 1 34,175.84 0.01%
30 months 33 1,365,084.39 0.26%
32 months 1 31,747.17 0.01%
36 months 6,533 251,124,703.58 47.72%
42 months 18 803,641.65 0.15%
48 months 1 58,872.79 0.01%
60 months 387 13,363,092.81 2.54%
N/A (A) 23 846,017.72 0.17%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Note: (A) Will not exceed 60 months.
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 7 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Home Loan Rates
Range of Number of Statistical Percentage of
Cut-off Date
Loan Rates (%) Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
9.001 to 9.500 2 $118,182.12 0.53%
11.001 to 11.500 3 174,343.04 0.79%
11.501 to 12.000 17 1,081,335.53 4.88%
12.001 to 12.500 28 1,736,328.61 7.84%
12.501 to 13.000 96 5,875,554.88 26.53%
13.001 to 13.500 67 4,080,478.28 18.42%
13.501 to 14.000 81 4,721,740.04 21.32%
14.001 to 14.500 35 1,929,408.18 8.71%
14.501 to 15.000 25 1,277,631.27 5.77%
15.001 to 15.500 12 564,893.00 2.55%
15.501 to 16.000 5 274,196.22 1.24%
16.001 to 16.500 2 62,763.68 0.28%
16.501 to 17.000 6 216,249.91 0.98%
17.001 to 17.500 1 34,959.28 0.16%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Percentage
Cut-off Date of
Home Loan Amounts Home Loans Principal Home Loan
Balance Pool
-------------------- ---------------------------------------------
Up to 9 $188,621.16 0.85%
$25,000.00
$25,000.01 to 124 5,524,480.32 24.94%
$50,000.00
$50,000.01 to 233 15,134,165.41 68.33%
$75,000.00
$75,000.01 to 14 1,300,797.15 5.87%
$100,000.00
---------------------------------------------
Total 380 $22,148,064.04 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 8 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Combined Loan-to-Value Ratios
Range of Combined Number of Home Statistical Percentage
Cut-off Date of
Loan-to-Value Home Loans Principal Home Loan
Ratios (%) Balance Pool
-------------------- ----------------------------------------------
Up to 70.00 2 $88,603.26 0.40%
75.01 to 80.00 1 17,963.79 0.08%
85.01 to 90.00 7 319,454.76 1.44%
90.01 to 95.00 12 527,522.68 2.38%
95.01 to 100.00 17 827,891.54 3.74%
100.01 to 105.00 38 2,277,366.23 10.28%
105.01 to 110.00 58 3,137,656.71 14.17%
110.01 to 115.00 80 4,654,160.79 21.01%
115.01 to 120.00 77 4,617,996.50 20.85%
120.01 to 125.00 88 5,679,447.78 25.64%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Months Remaining to Maturity
Months Remaining Number of Statistical Percentage of
Cut-off Date
to Maturity Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
Up to 96 1 $52,775.06 0.24%
109 to 120 12 638,254.13 2.88%
157 to 168 7 297,273.27 1.34%
169 to 180 97 5,214,090.91 23.54%
181 to 288 64 3,862,153.30 17.44%
289 to 300 188 11,464,161.06 51.76%
Greater than 300 11 619,356.31 2.80%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 9 of 11)
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Year of Origination
Number of Statistical Percentage of
Cut-off Date
Year of Origination Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
1998 1 $52,775.06 0.24%
1999 13 719,827.51 3.25%
2000 366 21,375,461.47 96.51%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Geographic Distribution of Mortgaged Properties
Number of Statistical Percentage of
Cut-off Date
State Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
California 108 $6,366,889.40 28.75%
Maryland 35 1,999,141.49 9.03%
Virginia 22 1,466,230.14 6.62%
Washington 22 1,321,716.70 5.97%
Georgia 19 971,826.86 4.39%
Colorado 16 943,662.63 4.26%
New York 12 709,247.11 3.20%
Arizona 12 690,057.00 3.12%
Illinois 13 619,479.38 2.80%
Ohio 10 608,159.07 2.75%
New Jersey 9 500,829.16 2.26%
Florida 9 467,918.69 2.11%
Other (<2%) 93 5,482,906.41 24.76%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 10 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Debt-to-Income Ratio
Number of Statistical Percentage of
Cut-off Date
Debt-to-Income Ratio Home Loans Principal Home Loan
(%) Balance Pool
--------------------------------------------------------------------
15.01 to 20.00 1 $74,728.73 0.34%
20.01 to 25.00 4 185,212.54 0.84%
25.01 to 30.00 20 1,019,634.80 4.60%
30.01 to 35.00 40 2,278,850.16 10.29%
35.01 to 40.00 75 4,454,293.50 20.11%
40.01 to 45.00 100 5,991,676.96 27.05%
45.01 to 50.00 140 8,143,667.35 36.77%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Credit Scores
Range of Number Statistical Percentage of
Cut-off Date
Credit Scores Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
640 to 659 10 $432,781.69 1.95%
660 to 679 64 3,069,551.64 13.86%
680 to 699 93 5,190,525.58 23.44%
700 to 719 120 7,439,433.89 33.59%
720 to 739 54 3,730,644.29 16.84%
740 to 759 24 1,506,179.83 6.80%
760 to 779 14 728,998.28 3.29%
780 to 799 1 49,948.84 0.23%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 11 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Prepay Penalties
Range of Number Statistical Percentage of
Cut-off Date
Prepayment Penalty Home Loans Principal Home Loan
Terms Balance Pool
-------------------- ----------------------------------------------
None 178 $10,126,114.95 45.72%
12 months 6 347,817.07 1.57%
24 months 1 74,940.06 0.34%
30 months 1 61,971.14 0.28%
36 months 188 11,195,052.24 50.55%
42 months 1 53,950.69 0.24%
60 months 5 288,217.89 1.30%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
--------------------------------------------------------------------------------
BEAR STEARNS
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
</TABLE>
<PAGE>
NEW ISSUE COMPUTATIONAL MATERIALS
New Issue Computational Materials
$575,000,000 (Approximate)
Home Loan-Backed Notes,
Series 2000-HI5
Residential Funding Mortgage Securities II, Inc.
Depositor
Home Loan Trust 2000-HI5
Issuer
Residential Funding Corporation
Seller and Master Servicer
December 4, 2000
Neither the Seller, the Servicer, nor the Trust, nor any of its affiliates make
any representations as to the accuracy or completeness of the information
herein. The information herein is preliminary, and will be superseded by the
applicable Prospectus Supplement and by any other information subsequently filed
with the Securities and Exchange Commission. The information herein addresses
only certain aspects of the applicable notes' characteristics and thus does not
provide a complete assessment of the notes. As such, the information may not
reflect the impact of all structural characteristics of the notes. The
assumptions underlying the information, including structure and collateral, may
be modified from time to time to reflect changed circumstances. The attached
term sheet is not intended to be a Prospectus and any investment decision with
respect to the notes should be made by you based solely upon all of the
information contained in the final Prospectus and Prospectus Supplement. Under
no circumstances shall the information presented constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of the notes in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction. The notes may not be sold nor may an offer to buy be accepted
prior to the delivery of a final Prospectus and Prospectus Supplement relating
to the notes. All information described herein is preliminary, limited in nature
and subject to completion or amendment. No representation is made that the above
referenced notes will actually perform as described in any scenario presented.
Neither the Seller, the Servicer, nor the Trust has prepared, reviewed or
participated in the preparation hereof. The Seller, the Servicer and the Trust
are not responsible for the accuracy hereof and they have not authorized its
dissemination. A final Prospectus and Prospectus Supplement may be obtained by
contacting Salomon Smith Barney's Syndicate Desk at (212) 723-6171.
<PAGE>
This page must be accompanied by the disclaimer included on the cover of these
materials. If you did not receive such a disclaimer please contact your Salomon
Smith Barney Financial Advisor immediately.
<TABLE>
<CAPTION>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 1 of 6)
----------------------------------------------------------------------------------------------
$575,000,000 (Approximate)
<S> <C> <C>
Issuer: Home Loan Trust 2000-HI5
Depositor: Residential Funding Mortgage Securities II, Inc.
Seller: Residential Funding Corporation
Credit Enhancer: Ambac Assurance Corporation ("Ambac")
Underwriter: Lead Manager: Bear, Stearns & Co. Inc.
------------
Co-Managers: Residential Funding Securities Corporation;
-----------
Salomon Smith Barney
Master Servicer: Residential Funding Corporation (the "Master Servicer"
or "RFC").
Initial Subservicer: GMAC Mortgage Corporation ("GMACMC"), an affiliate of
the Depositor.
Indenture Trustee: The Chase Manhattan Bank
Owner Trustee: Wilmington Trust Company
Characteristics of the Notes (a), (b), (c), (d), (e)
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Home Original Avg Principal PrincipalFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months) (months) Maturity (Moody's/S&P)
(years) Date
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Class I $116,305,000 Fixed 0.90 None 19 5/25/09 Aaa / AAA
A-I-1
Class I 56,395,000 Fixed 2.00 18 10 8/25/11 Aaa / AAA
A-I-2
Class I 81,213,000 Fixed 3.00 27 17 1/25/14 Aaa / AAA
A-I-3
Class I 37,298,000 Fixed 4.00 43 9 12/25/14 Aaa / AAA
A-I-4
Class I 58,603,000 Fixed 5.00 51 17 12/25/16 Aaa / AAA
A-I-5
Class I 88,358,000 Fixed 7.00 67 35 1/25/21 Aaa / AAA
A-I-6
Class I 111,828,000 Fixed 10.82 101 40 12/25/30 Aaa / AAA
A-I-7
Class A-II II 25,000,000 Fixed 5.06 None 141 12/25/30 Aaa / AAA
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Notes:
(a) 100% Prepayment Assumption: 2.0% CPR in month 1 of the Home Loans, and an
additional 0.9286% per annum in each month thereafter until month 15. On and after
month 15, 15.0% CPR.
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement" herein.)
(d) The Note Rate applicable to the Class A-I-7 Notes and the Class A-II Notes will
increase by 0.50% if the 10% clean-up call is not exercised.
(e) The principal balance of each Class of Notes is subject to a 5% variance.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 2 of 6)
----------------------------------------------------------------------------------------------
The Notes: Home Loan Trust 2000-HI5 will issue 8
classes of Home Loan-Backed Notes (namely,
the Class A-I-1, Class A-I-2, Class A-I-3,
Class A-I-4, Class A-I-5, Class A-I-6, Class
A-I-7 and Class A-II Notes (the "Notes")).
The Assets of the Trust: The assets of the Trust will include two groups of
conventional, closed-end, second-lien, fixed-rate home
loans (the "Home Loans"), the proceeds of which will be
used primarily for debt consolidation and/or home
improvements. The Home Loans will be secured by
mortgages, deeds of trust or other similar security
instruments. Substantially all of the Home Loans will
have a combined loan-to-value ratio in excess of 100%.
Statistical Cut-off Date: As of November 28, 2000.
Cut-off Date: As of December 1, 2000.
Closing Date: On or about December 21, 2000.
Payment Date: The 25th of each month (or the next business day),
commencing on January 25, 2001.
Delay Days: The Notes will have a payment delay of 24 days.
Note Rate: Interest will accrue on all of the Notes at a fixed rate
during the month prior to the month of the related
Payment Date on a 30/360-day basis.
The Note Rate applicable to the Class A-I-7
Notes and Class A-II Notes will increase by
0.50% after the Step-Up Date. The "Step-Up
Date" is the first Payment Date after which
the current Pool Principal Balance declines
to 10% or less of the original Pool
Principal Balance of the Home Loans.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 3 of 6)
----------------------------------------------------------------------------------------------
Principal: Payments of principal will be distributed concurrently
to (a) the Class A-I Notes in the aggregate and (b) the
Class A-II Notes, in each case allocated in proportion
to the percentage of the principal collections derived
from the related loan group for such payment date, until
the note balances of the Class A-I Notes in the
aggregate or the Class A-II Notes have been reduced to
zero. From then on, these amounts will be distributed
to the remaining class or classes of Class A Notes until
their note balances have been reduced to zero.
Any payments of principal allocable to the
Class A-I Notes shall be paid to the Class
A-I-1 Notes, the Class A-I-2 Notes, the
Class A-I-3 Notes, the Class A-I-4 Notes,
the Class A-I-5 Notes, the Class A-I-6
Notes, and the Class A-I-7 Notes, in that
order, in each case until the outstanding
note balance of each of these notes has been
reduced to zero.
Any payments of principal allocable to the
Class A-II Notes shall be paid to the Class
A-II Notes until the outstanding note
balance has been reduced to zero.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 4 of 6)
----------------------------------------------------------------------------------------------
Priority of Payments: On each Payment Date, principal and interest collections
will be allocated from the payment account in the following order of
priority:
(1) To pay accrued interest due on the Notes;
(2) To pay as principal on the Notes, an amount equal to the principal
collection distribution amount for such Payment Date;
(3) To pay as principal on the Notes, an amount equal to the liquidation loss
distribution amount for such Payment Date;
(4) To pay the Credit Enhancer the premium for the Policy, any previously
unpaid premiums for the Policy with interest and any payments in connection
with the limited reimbursement agreement;
(5) To reimburse the Credit Enhancer for certain prior draws made on the
Policy, with interest;
(6) To pay as additional principal on the Notes, an amount (if any) necessary
to bring the amount of overcollateralization up to the required
overcollateralization amount for such Payment Date; (7) To pay the Credit
Enhancer any other amounts owed under the insurance agreement; and (8) To
pay any remaining amounts to the holders of the Notes.
Credit Enhancement: Credit enhancement with respect to the Notes will be
provided by (1) Excess Spread, (2) Overcollateralization, and (3) the Ambac
Insurance Policy.
Excess Spread: The interest due on the Home Loans is generally
expected to be higher than the interest due on the Notes and
other fees and expenses of the Trust, resulting in excess
interest collections ("Excess Spread"), which will be available
to fund distributions on the Notes, commencing with the
Distribution Date in February 2001. Such amount can vary over
time based on the prepayment and default experience of the Home
Loans. On each Payment Date, other than the first Payment Date,
any Excess Spread from the related collection period will be
available to cover losses and build overcollateralization on such
Payment Date.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 5 of 6)
----------------------------------------------------------------------------------------------
Overcollateralization: The initial overcollateralization amount
will be equal to 0.00% of the Original Pool Principal Balance on
the Closing Date. Commencing with the February 2001 Payment Date,
Excess Spread will be applied, to the extent available, to make
accelerated payments of principal to the securities then entitled
to receive payments of principal; such application will cause the
aggregate principal balance of the Notes to amortize more rapidly
than the Home Loans, resulting in a build up of
overcollateralization. Prior to the Stepdown Date, the "Required
Overcollateralization Amount" will be equal to 2.00% of the
original Pool Principal Balance. On or after the Stepdown Date,
the Required Overcollateralization Amount will be permitted,
subject to certain performance triggers being satisfied, to
decrease to 4.00% of current Pool Principal Balance of the Home
Loans, subject to a floor of 0.50% of the original Pool Principal
Balance.
Ambac Insurance Policy: Ambac Assurance Corporation (the "Credit
Enhancer") will unconditionally and irrevocably guarantee: (a)
timely payment of interest, (b) the amount of any losses not
covered by excess spread or overcollateralization, and (c) the
payment of principal on the Notes by no later than their
respective final scheduled maturity date. The Insurance Policy is
not revocable for any reason.
Stepdown Date: The Stepdown Date is the Payment Date occurring on the later of:
(1) the Payment Date in January, 2003 (i.e., on the 37th Payment Date); and
(2) the first Payment Date on which the current Pool Principal Balance has been
reduced to less than 50% of the original Pool Principal Balance.
Master Servicing Fee: With respect to each Home Loan Group, the primary
compensation to be paid to the Master Servicer in respect of its master
servicing activities will be 0.08% per annum, payable monthly. The fees of
the Trustees will be paid from the Master Servicing Fee.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Preliminary Term Sheet (Page 6 of 6)
----------------------------------------------------------------------------------------------
Subservicing Fee: With respect to each Home Loan Group,
the Trust is subject to certain fees,
including the Subservicing Fee, as of the
Cut-Off Date, of approximately 0.50% per
annum, payable monthly.
Advancing: There is no required advancing of delinquent principal
or interest by the Master Servicer, the Subservicer, the
Trustees, the Credit Enhancer or any other entity.
Optional Redemption: The Master Servicer may, at its option, effect an early
redemption or termination of the Notes on the first
Payment Date after the Payment Date on which the current
Pool Principal Balance declines to less than 10% of the
original Pool Principal Balance of the Home Loans (the
"Step-Up Date").
Form of Registration: Book-Entry form, same day funds through DTC, Clearstream
and Euroclear.
Tax Status: For federal income tax purposes, the Notes will be
characterized as indebtedness of the Issuer.
ERISA Eligibility: The Notes may be eligible for
purchase by employee benefit plans that are
subject to ERISA.
SMMEA Treatment: The Notes will not constitute
"mortgage related securities" for purposes
of SMMEA.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Notes (Page 1 of 3)
----------------------------------------------------------------------------------------------
Characteristics of the Notes (a), (b), (c), (d), (e)
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Home Original Avg Principal PrincipalFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months) (months) Maturity (Moody's/S&P)
(years) Date
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Class I $116,305,000 Fixed 0.90 None 19 5/25/09 Aaa / AAA
A-I-1
Class I 56,395,000 Fixed 2.00 18 10 8/25/11 Aaa / AAA
A-I-2
Class I 81,213,000 Fixed 3.00 27 17 1/25/14 Aaa / AAA
A-I-3
Class I 37,298,000 Fixed 4.00 43 9 12/25/14 Aaa / AAA
A-I-4
Class I 58,603,000 Fixed 5.00 51 17 12/25/16 Aaa / AAA
A-I-5
Class I 88,358,000 Fixed 7.00 67 35 1/25/21 Aaa / AAA
A-I-6
Class I 111,828,000 Fixed 10.82 101 40 12/25/30 Aaa / AAA
A-I-7
Class A-II II 25,000,000 Fixed 5.06 None 141 12/25/30 Aaa / AAA
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Notes:
(a) 100% Prepayment Assumption: 2.0% CPR in month 1 of the Home Loans, and an
additional 0.9286% per annum in each month thereafter until month 15. On and after
month 15, 15.0% CPR.
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement" herein.)
(d) The Note Rate applicable to the Class A-I-7 Notes and the Class A-II Notes will
increase by 0.50% if the 10% clean-up call is not exercised.
(e) The principal balance of each Class of Notes is subject to a 5% variance.
Class A-I-1 (to call / to mty)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
4.29 1.36 1.07 0.90 0.79 0.72
Modified Duration (years)
3.43 1.24 0.99 0.84 0.74 0.67
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 11/25/08 8/25/03 12/25/02 7/25/02 5/25/02 3/25/02
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 95 32 24 19 17 15
Illustrative Yield @ Par (30/360) 7.149% 6.902% 6.804% 6.719% 6.645% 6.578%
------------------------------------------------------------------------------------------------------
Class A-I-2 (to call / to mty)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
9.13 3.31 2.47 2.00 1.70 1.49
Modified Duration (years)
6.56 2.87 2.20 1.81 1.56 1.37
First Principal Payment 11/25/08 8/25/03 12/25/02 7/25/02 5/25/02 3/25/02
Last Principal Payment 3/25/11 12/25/04 12/25/03 4/25/03 12/25/02 9/25/02
Principal Lockout (months) 94 31 23 18 16 14
Principal Window (months) 29 17 13 10 8 7
Illustrative Yield @ Par (30/360) 6.971% 6.880% 6.832% 6.786% 6.744% 6.705%
------------------------------------------------------------------------------------------------------
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Notes (Page 2 of 3)
----------------------------------------------------------------------------------------------
Class A-I-3 (to call / to mty)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
11.61 5.06 3.76 3.00 2.50 2.16
Modified Duration (years)
7.70 4.12 3.20 2.62 2.22 1.94
First Principal Payment 3/25/11 12/25/04 12/25/03 4/25/03 12/25/02 9/25/02
Last Principal Payment 10/25/13 2/25/07 7/25/05 8/25/04 12/25/03 7/25/03
Principal Lockout (months) 122 47 35 27 23 20
Principal Window (months) 32 27 20 17 13 11
Illustrative Yield @ Par (30/360) 7.093% 7.041% 7.008% 6.975% 6.943% 6.913%
------------------------------------------------------------------------------------------------------
Class A-I-4 (to call / to mty)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
13.31 6.72 5.04 4.00 3.32 2.83
Modified Duration (years)
8.34 5.18 4.10 3.37 2.86 2.49
First Principal Payment 10/25/13 2/25/07 7/25/05 8/25/04 12/25/03 7/25/03
Last Principal Payment 9/25/14 3/25/08 6/25/06 4/25/05 7/25/04 1/25/04
Principal Lockout (months) 153 73 54 43 35 30
Principal Window (months) 12 14 12 9 8 7
Illustrative Yield @ Par (30/360) 7.200% 7.165% 7.141% 7.116% 7.091% 7.066%
------------------------------------------------------------------------------------------------------
Class A-1-5 (to call / to mty)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
14.46 8.25 6.28 5.00 4.13 3.52
Modified Duration (years)
8.69 6.02 4.89 4.06 3.46 3.01
First Principal Payment 9/25/14 3/25/08 6/25/06 4/25/05 7/25/04 1/25/04
Last Principal Payment 5/25/16 3/25/10 1/25/08 8/25/06 8/25/05 12/25/04
Principal Lockout (months) 164 86 65 51 42 36
Principal Window (months) 21 25 20 17 14 12
Illustrative Yield @ Par (30/360) 7.315% 7.290% 7.272% 7.252% 7.231% 7.210%
------------------------------------------------------------------------------------------------------
Class A-1-6 (to call / to mty)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
17.86 10.99 8.67 7.00 5.81 4.93
Modified Duration (years)
9.58 7.27 6.18 5.28 4.56 3.99
First Principal Payment 5/25/16 3/25/10 1/25/08 8/25/06 8/25/05 12/25/04
Last Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Principal Lockout (months) 184 110 84 67 55 47
Principal Window (months) 54 44 41 35 30 25
Illustrative Yield @ Par (30/360) 7.505% 7.488% 7.476% 7.462% 7.448% 7.432%
------------------------------------------------------------------------------------------------------
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Notes (Page 3 of 3)
----------------------------------------------------------------------------------------------
Class A-I-7 (to call)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
22.16 15.35 12.87 10.82 9.15 7.84
Modified Duration (years)
10.39 8.76 7.94 7.13 6.37 5.70
First Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Last Principal Payment 11/25/23 6/25/17 10/25/14 9/25/12 12/25/10 7/25/09
Principal Lockout (months) 237 153 124 101 84 71
Principal Window (months) 38 45 42 40 36 32
Illustrative Yield @ Par (30/360) 7.683% 7.674% 7.668% 7.661% 7.652% 7.643%
------------------------------------------------------------------------------------------------------
Class A-II (to call)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
14.59 7.92 6.22 5.06 4.23 3.61
Modified Duration (years)
8.07 5.26 4.41 3.77 3.28 2.89
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 11/25/23 6/25/17 10/25/14 9/25/12 12/25/10 7/25/09
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 275 198 166 141 120 103
Illustrative Yield @ Par (30/360) 7.526% 7.493% 7.474% 7.455% 7.435% 7.415%
------------------------------------------------------------------------------------------------------
Class A-I-7 (to maturity)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
22.61 16.90 14.35 12.18 10.41 8.99
Modified Duration (years)
10.47 9.14 8.36 7.59 6.86 6.21
First Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Last Principal Payment 9/25/25 4/25/25 5/25/24 7/25/22 2/25/20 11/25/17
Principal Lockout (months) 237 153 124 101 84 71
Principal Window (months) 60 139 157 158 146 132
Illustrative Yield @ Par (30/360) 7.687% 7.697% 7.697% 7.696% 7.694% 7.692%
------------------------------------------------------------------------------------------------------
Class A-II (to maturity)
------------------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
------------------------------------------------------------------------------------------------------
Average Life (years)
14.72 8.34 6.62 5.41 4.53 3.88
Modified Duration (years)
8.09 5.36 4.53 3.89 3.40 3.01
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 9/25/25 4/25/25 5/25/24 7/25/22 3/25/20 12/25/17
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 297 292 281 259 231 204
Illustrative Yield @ Par (30/360) 7.527% 7.504% 7.490% 7.475% 7.459% 7.442%
------------------------------------------------------------------------------------------------------
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI5
Computational Materials: Information Relating to the Collateral (Page 1 of 1)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
Home Loan Group I II
-----------------------------------------------------------------------------------
Current Balance (as of $526,291,555 $22,148,064
11/28/00)
Loan Count 13,975 380
Average Balance $37,660 $58,284
Maximum Balance $100,000 $100,000
-----------------------------------------------------------------------------------
WA Gross WAC 13.961% 13.452%
Range of Gross Coupons 8.250% to 18.750% 9.125% to 17.490%
WA Net WAC (%) 13.381% 12.872%
WA Remaining Term (mos) 234 255
WA Age (mos) 2 2
WA Orig. Term (mos) 236 257
-----------------------------------------------------------------------------------
Balloon / Fully Amortizing 0.28% / 99.72% 2.08% / 97.92%
First Lien / Second Lien 0.03% / 99.97% 0.00% / 100.00%
-----------------------------------------------------------------------------------
WA Credit Score 696 706
Up to 639 0.01% 0.00%
640 to 679 29.80% 15.81%
680 to 719 50.13% 57.03%
720 to 759 17.85% 23.64%
760 to 799 2.18% 3.52%
800 or greater 0.01% 0.00%
-----------------------------------------------------------------------------------
WA Debt-to-Income Ratio 40.24% 42.12%
Range of Debt-to-Income 12.00% to 50.00% 20.00% to 50.00%
Ratios
WA CLTV 116.20% 113.23%
% CLTVs > 100.00% 93.53% 91.95%
Range of CLTVs 13.00% to 126.00% 12.00% to 125.00%
% of Pool with Prepay 52.95% 54.28%
Penalties
-----------------------------------------------------------------------------------
Property Type
------------------------------ 91.25% 86.17%
Single Family Detached
Planned Unit Development 4.80% 12.67%
Condominium 2.69% 0.29%
Townhouse 0.78% 0.63%
Two to Four Family 0.45% 0.24%
Manufactured Housing 0.02% 0.00%
-----------------------------------------------------------------------------------
Occupancy Status
Owner / Non-Owner Occupied 100.00% / 0.00% 100.00% / 0.00%
Loan Purpose
Debt Consolidation 87.48% 79.59%
Cash Out/Refinance 9.62% 12.52%
DC & HI Combination 1.64% 3.93%
Other 1.26% 3.96%
-----------------------------------------------------------------------------------
Geographic Concentration (>
5%)
CA (9.08%) CA (28.75%)
FL (6.81%) MD (9.03%)
MD (5.68%) VA (6.62%)
WA (5.97%)
-----------------------------------------------------------------------------------
</TABLE>
<PAGE>
GMAC RFC
$575,000,000 (APPROXIMATE)
RFMS II Series 2000-HI5 Trust
Home Loan-Backed Notes
Residential Funding Mortgage Securities II, Inc.
Depositor
Residential Funding Corporation
Seller and Master Servicer
The following is a revised preliminary Term Sheet. All terms and statements are
subject to further change.
RESIDENTIAL FUNDING SECURITIES
A GMAC COMPANY
as Underwriter
December 5, 2000
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information
--------------------------------------------------------------------------------
The information herein has been provided solely by Residential Funding
Securities Corporation ("RFSC") based on information with respect to the
mortgage loans provided by Residential Funding Corporation ("RFC") and its
affiliates. Neither RFC nor any of its affiliates makes any representation as to
the accuracy or completeness of the information herein.
The information herein is preliminary and supersedes any prior information and
will be superseded by the prospectus supplement and by any other information
subsequently filed with the Securities and Exchange Commissions (SEC). All
assumptions and information in this report reflect RFSC'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, RFSC 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. RFSC (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, RFSC 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 consummated without the purchaser first having received a prospectus and, if
required prospectus supplement.
Finally, RFSC has not addressed the legal, accounting and tax implications of
the analysis with respect to you, and RFSC strongly urges you to seek advice
from your counsel, accountant and tax advisor.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
RFMS II Series 2000-HI5
Home Loan-Backed Notes, Series 2000-HI5
$575,000,000 (Approximate)
Computational Materials: Preliminary Term Sheet (Page 1 of 6)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
$575,000,000 (Approximate)
<S> <C> <C>
Issuer: Home Loan Trust 2000-HI5
Depositor: Residential Funding Mortgage Securities II, Inc.
Seller: Residential Funding Corporation
Credit Enhancer: Ambac Assurance Corporation ("Ambac")
Underwriter: Lead Manager: Bear, Stearns & Co. Inc.
Co-Managers: Residential Funding Securities Corporation;
Salomon Smith Barney
Master Servicer: Residential Funding Corporation (the "Master Servicer"
or "RFC").
Initial Subservicer: GMAC Mortgage Corporation ("GMACMC"), an affiliate of
the Depositor.
Indenture Trustee: The Chase Manhattan Bank
Owner Trustee: Wilmington Trust Company
The Notes: Home Loan Trust 2000-HI5 will issue 8
classes of Home Loan-Backed Notes (namely,
the Class A-I-1, Class A-I-2, Class A-I-3,
Class A-I-4, Class A-I-5, Class A-I-6, Class
A-I-7 and Class A-II Notes (the "Notes")).
Characteristics of the Notes (a), (b), (c), (d), (e)
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Home Original Avg Principal PrincipalFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months) (months) Maturity (Moody's/S&P)
(years) Date
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Class I $116,305,000 Fixed 0.90 None 19 5/25/09 Aaa / AAA
A-I-1
Class I 56,395,000 Fixed 2.00 18 10 8/25/11 Aaa / AAA
A-I-2
Class I 81,213,000 Fixed 3.00 27 17 1/25/14 Aaa / AAA
A-I-3
Class I 37,298,000 Fixed 4.00 43 9 12/25/14 Aaa / AAA
A-I-4
Class I 58,603,000 Fixed 5.00 51 17 12/25/16 Aaa / AAA
A-I-5
Class I 88,358,000 Fixed 7.00 67 35 1/25/21 Aaa / AAA
A-I-6
Class I 111,828,000 Fixed 10.82 101 40 12/25/30 Aaa / AAA
A-I-7
Class A-II II 25,000,000 Fixed 5.06 None 141 12/25/30 Aaa / AAA
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Notes:
(a) 100% Prepayment Assumption: 2.0% CPR in month 1 of the Home Loans, and an
additional 0.9286% per annum in each month thereafter until month 15. On and after
month 15, 15.0% CPR.
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement" herein.)
(d) The Note Rate applicable to the Class A-I-7 Notes and the Class A-II Notes will
increase by 0.50% if the 10% clean-up call is not exercised.
(e) The principal balance of each Class of Notes is subject to a 5% variance.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Preliminary Term Sheet (Page 2 of 6)
----------------------------------------------------------------------------------------------
The Assets of the Trust: The assets of the Trust will include two groups of
conventional, closed-end, second-lien, fixed-rate home
loans (the "Home Loans"), the proceeds of which will be
used primarily for debt consolidation and/or home
improvements. The Home Loans will be secured by
mortgages, deeds of trust or other similar security
instruments. Substantially all of the Home Loans will
have a combined loan-to-value ratio in excess of 100%.
Statistical Cut-off Date: As of November 28, 2000.
Cut-off Date: As of December 1, 2000.
Closing Date: On or about December 21, 2000.
Payment Date: The 25th of each month (or the next business day),
commencing on January 25, 2001.
Delay Days: The Notes will have a payment delay of 24 days.
Note Rate: Interest will accrue on all of the Notes at a fixed rate
during the month prior to the month of the related
Payment Date on a 30/360-day basis.
The Note Rate applicable to the Class A-I-7
Notes and Class A-II Notes will increase by
0.50% after the Step-Up Date. The "Step-Up
Date" is the first Payment Date after which
the current Pool Principal Balance declines
to 10% or less of the original Pool
Principal Balance of the Home Loans.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Preliminary Term Sheet (Page 3 of 6)
----------------------------------------------------------------------------------------------
Principal: Payments of principal will be distributed concurrently
to (a) the Class A-I Notes in the aggregate and (b) the
Class A-II Notes, in each case allocated in proportion
to the percentage of the principal collections derived
from the related loan group for such payment date, until
the note balances of the Class A-I Notes in the
aggregate or the Class A-II Notes have been reduced to
zero. From then on, these amounts will be distributed
to the remaining class or classes of Class A Notes until
their note balances have been reduced to zero.
Any payments of principal allocable to the
Class A-I Notes shall be paid to the Class
A-I-1 Notes, the Class A-I-2 Notes, the
Class A-I-3 Notes, the Class A-I-4 Notes,
the Class A-I-5 Notes, the Class A-I-6
Notes, and the Class A-I-7 Notes, in that
order, in each case until the outstanding
note balance of each of these notes has been
reduced to zero.
Any payments of principal allocable to the
Class A-II Notes shall be paid to the Class
A-II Notes until the outstanding note
balance has been reduced to zero.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Preliminary Term Sheet (Page 4 of 6)
----------------------------------------------------------------------------------------------
Priority of Payments: On each Payment Date, principal and interest collections
will be allocated from the payment account in the
following order of priority:
(1) To pay accrued interest due on the Notes;
(2) To pay as principal on the Notes, an amount equal to the principal
collection distribution amount for such Payment Date;
(3) To pay as principal on the Notes, an amount equal to the liquidation loss
distribution amount for such Payment Date;
(4) To pay the Credit Enhancer the premium for the Policy, any previously
unpaid premiums for the Policy with interest and any payments in connection
with the limited reimbursement agreement;
(5) To reimburse the Credit Enhancer for certain prior draws made on the
Policy, with interest;
(6) To pay as additional principal on the Notes, an amount (if any) necessary
to bring the amount of overcollateralization up to the required
overcollateralization amount for such Payment Date;
(7) To pay the Credit Enhancer any other amounts owed under the insurance
agreement; and
(8) To pay any remaining amounts to the holders of the Certificates.
Credit Enhancement:
Credit enhancement with respect to the Notes will be
provided by (1) Excess Spread, (2) Overcollateralization,
and (3) the Ambac Insurance Policy.
Excess Spread: The interest due on the Home
Loans is generally expected to be higher
than the interest due on the Notes and other
fees and expenses of the Trust, resulting in
excess interest collections ("Excess
Spread"), which will be available to fund
distributions on the Notes, commencing with
the Distribution Date in February 2001. Such
amount can vary over time based on the
prepayment and default experience of the
Home Loans. On each Payment Date, other than
the first Payment Date, any Excess Spread
from the related collection period will be
available to cover losses and build
overcollateralization on such Payment Date.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Preliminary Term Sheet (Page 5 of 6)
----------------------------------------------------------------------------------------------
Overcollateralization: The initial
overcollateralization amount will be equal
to 0.00% of the Original Pool Principal
Balance on the Closing Date. Commencing with
the February 2001 Payment Date, Excess
Spread will be applied, to the extent
available, to make accelerated payments of
principal to the securities then entitled to
receive payments of principal; such
application will cause the aggregate
principal balance of the Notes to amortize
more rapidly than the Home Loans, resulting
in a build up of overcollateralization.
Prior to the Stepdown Date, the "Required
Overcollateralization Amount" will be equal
to 2.00% of the original Pool Principal
Balance. On or after the Stepdown Date, the
Required Overcollateralization Amount will
be permitted, subject to certain performance
triggers being satisfied, to decrease to
4.00% of current Pool Principal Balance of
the Home Loans, subject to a floor of 0.50%
of the original Pool Principal Balance.
Ambac Insurance Policy: Ambac Assurance
Corporation (the "Credit Enhancer") will
unconditionally and irrevocably guarantee:
(a) timely payment of interest, (b) the
amount of any losses not covered by excess
spread or overcollateralization, and (c) the
payment of principal on the Notes by no
later than their respective final scheduled
maturity date. The Insurance Policy is not
revocable for any reason.
Stepdown Date: The Stepdown Date is the Payment Date occurring on the later of:
(1) the Payment Date in January, 2004 (i.e., on the 37th Payment Date); and
(2) the first Payment Date on which the current Pool Principal Balance has been
reduced to less than 50% of the original Pool Principal Balance.
Master Servicing Fee: With respect to each Home
Loan Group, the primary compensation to be
paid to the Master Servicer in respect of
its master servicing activities will be
0.08% per annum, payable monthly. The fees
of the Trustees will be paid from the Master
Servicing Fee.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Preliminary Term Sheet (Page 6 of 6)
----------------------------------------------------------------------------------------------
Subservicing Fee: With respect to each Home Loan Group,
the Trust is subject to certain fees,
including the Subservicing Fee, as of the
Cut-Off Date, of approximately 0.50% per
annum, payable monthly.
Advancing: There is no required advancing of delinquent principal
or interest by the Master Servicer, the Subservicer, the
Trustees, the Credit Enhancer or any other entity.
Optional Redemption: The Master Servicer may, at its option, effect an early
redemption or termination of the Notes on the first
Payment Date after the Payment Date on which the current
Pool Principal Balance declines to less than 10% of the
original Pool Principal Balance of the Home Loans (the
"Step-Up Date").
Form of Registration: Book-Entry form, same day funds through DTC, Clearstream
and Euroclear.
Tax Status: For federal income tax purposes, the Notes will be
characterized as indebtedness of the Issuer.
ERISA Eligibility: The Notes may be eligible for
purchase by employee benefit plans that are
subject to ERISA.
SMMEA Treatment: The Notes will not constitute
"mortgage related securities" for purposes
of SMMEA.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Notes (Page 1 of 3)
----------------------------------------------------------------------------------------------
Characteristics of the Notes (a), (b), (c), (d), (e)
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Home Original Avg Principal PrincipalFinal
Offered Loan Principal Life Lockout Window Sch. Ratings
Notes Group Balance Coupon To Call (months) (months) Maturity (Moody's/S&P)
(years) Date
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Class I $116,305,000 Fixed 0.90 None 19 5/25/09 Aaa / AAA
A-I-1
Class I 56,395,000 Fixed 2.00 18 10 8/25/11 Aaa / AAA
A-I-2
Class I 81,213,000 Fixed 3.00 27 17 1/25/14 Aaa / AAA
A-I-3
Class I 37,298,000 Fixed 4.00 43 9 12/25/14 Aaa / AAA
A-I-4
Class I 58,603,000 Fixed 5.00 51 17 12/25/16 Aaa / AAA
A-I-5
Class I 88,358,000 Fixed 7.00 67 35 1/25/21 Aaa / AAA
A-I-6
Class I 111,828,000 Fixed 10.82 101 40 12/25/30 Aaa / AAA
A-I-7
Class A-II II 25,000,000 Fixed 5.06 None 141 12/25/30 Aaa / AAA
------------ ------- ------------ ----------- -------- --------- -------- ---------- --------------
Notes:
(a) 100% Prepayment Assumption: 2.0% CPR in month 1 of the Home Loans, and an
additional 0.9286% per annum in each month thereafter until month 15. On and after
month 15, 15.0% CPR.
(b) Transaction priced to 10% clean-up call.
(c) 100% P&I guaranty by Ambac (See section entitled "Credit Enhancement" herein.)
(d) The Note Rate applicable to the Class A-I-7 Notes and the Class A-II Notes will
increase by 0.50% if the 10% clean-up call is not exercised.
(e) The principal balance of each Class of Notes is subject to a 5% variance.
Class A-I-1 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
4.29 1.36 1.07 0.90 0.79 0.72
Modified Duration (years)
3.43 1.24 0.99 0.84 0.74 0.67
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 11/25/08 8/25/03 12/25/02 7/25/02 5/25/02 3/25/02
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 95 32 24 19 17 15
Illustrative Yield @ Par (30/360) 7.149% 6.902% 6.804% 6.719% 6.645% 6.578%
-----------------------------------------------------------------------------------------------
Class A-I-2 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
9.13 3.31 2.47 2.00 1.70 1.49
Modified Duration (years)
6.56 2.87 2.20 1.81 1.56 1.37
First Principal Payment 11/25/08 8/25/03 12/25/02 7/25/02 5/25/02 3/25/02
Last Principal Payment 3/25/11 12/25/04 12/25/03 4/25/03 12/25/02 9/25/02
Principal Lockout (months) 94 31 23 18 16 14
Principal Window (months) 29 17 13 10 8 7
Illustrative Yield @ Par (30/360) 6.971% 6.880% 6.832% 6.786% 6.744% 6.705%
-----------------------------------------------------------------------------------------------
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Notes (Page 2 of 3)
----------------------------------------------------------------------------------------------
Class A-I-3 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
11.61 5.06 3.76 3.00 2.50 2.16
Modified Duration (years)
7.70 4.12 3.20 2.62 2.22 1.94
First Principal Payment 3/25/11 12/25/04 12/25/03 4/25/03 12/25/02 9/25/02
Last Principal Payment 10/25/13 2/25/07 7/25/05 8/25/04 12/25/03 7/25/03
Principal Lockout (months) 122 47 35 27 23 20
Principal Window (months) 32 27 20 17 13 11
Illustrative Yield @ Par (30/360) 7.093% 7.041% 7.008% 6.975% 6.943% 6.913%
-----------------------------------------------------------------------------------------------
Class A-I-4 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
13.31 6.72 5.04 4.00 3.32 2.83
Modified Duration (years)
8.34 5.18 4.10 3.37 2.86 2.49
First Principal Payment 10/25/13 2/25/07 7/25/05 8/25/04 12/25/03 7/25/03
Last Principal Payment 9/25/14 3/25/08 6/25/06 4/25/05 7/25/04 1/25/04
Principal Lockout (months) 153 73 54 43 35 30
Principal Window (months) 12 14 12 9 8 7
Illustrative Yield @ Par (30/360) 7.200% 7.165% 7.141% 7.116% 7.091% 7.066%
-----------------------------------------------------------------------------------------------
Class A-1-5 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
14.46 8.25 6.28 5.00 4.13 3.52
Modified Duration (years)
8.69 6.02 4.89 4.06 3.46 3.01
First Principal Payment 9/25/14 3/25/08 6/25/06 4/25/05 7/25/04 1/25/04
Last Principal Payment 5/25/16 3/25/10 1/25/08 8/25/06 8/25/05 12/25/04
Principal Lockout (months) 164 86 65 51 42 36
Principal Window (months) 21 25 20 17 14 12
Illustrative Yield @ Par (30/360) 7.315% 7.290% 7.272% 7.252% 7.231% 7.210%
-----------------------------------------------------------------------------------------------
Class A-1-6 (to call / to mty)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
17.86 10.99 8.67 7.00 5.81 4.93
Modified Duration (years)
9.58 7.27 6.18 5.28 4.56 3.99
First Principal Payment 5/25/16 3/25/10 1/25/08 8/25/06 8/25/05 12/25/04
Last Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Principal Lockout (months) 184 110 84 67 55 47
Principal Window (months) 54 44 41 35 30 25
Illustrative Yield @ Par (30/360) 7.505% 7.488% 7.476% 7.462% 7.448% 7.432%
-----------------------------------------------------------------------------------------------
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Notes (Page 3 of 3)
----------------------------------------------------------------------------------------------
Class A-I-7 (to call)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
22.16 15.35 12.87 10.82 9.15 7.84
Modified Duration (years)
10.39 8.76 7.94 7.13 6.37 5.70
First Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Last Principal Payment 11/25/23 6/25/17 10/25/14 9/25/12 12/25/10 7/25/09
Principal Lockout (months) 237 153 124 101 84 71
Principal Window (months) 38 45 42 40 36 32
Illustrative Yield @ Par (30/360) 7.683% 7.674% 7.668% 7.661% 7.652% 7.643%
-----------------------------------------------------------------------------------------------
Class A-II (to call)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
14.59 7.92 6.22 5.06 4.23 3.61
Modified Duration (years)
8.07 5.26 4.41 3.77 3.28 2.89
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 11/25/23 6/25/17 10/25/14 9/25/12 12/25/10 7/25/09
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 275 198 166 141 120 103
Illustrative Yield @ Par (30/360) 7.526% 7.493% 7.474% 7.455% 7.435% 7.415%
-----------------------------------------------------------------------------------------------
Class A-I-7 (to maturity)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
22.61 16.90 14.35 12.18 10.41 8.99
Modified Duration (years)
10.47 9.14 8.36 7.59 6.86 6.21
First Principal Payment 10/25/20 10/25/13 5/25/11 6/25/09 1/25/08 12/25/06
Last Principal Payment 9/25/25 4/25/25 5/25/24 7/25/22 2/25/20 11/25/17
Principal Lockout (months) 237 153 124 101 84 71
Principal Window (months) 60 139 157 158 146 132
Illustrative Yield @ Par (30/360) 7.687% 7.697% 7.697% 7.696% 7.694% 7.692%
-----------------------------------------------------------------------------------------------
Class A-II (to maturity)
-----------------------------------------------------------------------------------------------
% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
Ramp to 0.00% 7.50% 11.25% 15.00% 18.75% 22.50%
-----------------------------------------------------------------------------------------------
Average Life (years)
14.72 8.34 6.62 5.41 4.53 3.88
Modified Duration (years)
8.09 5.36 4.53 3.89 3.40 3.01
First Principal Payment 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01 1/25/01
Last Principal Payment 9/25/25 4/25/25 5/25/24 7/25/22 3/25/20 12/25/17
Principal Lockout (months) 0 0 0 0 0 0
Principal Window (months) 297 292 281 259 231 204
Illustrative Yield @ Par (30/360) 7.527% 7.504% 7.490% 7.475% 7.459% 7.442%
-----------------------------------------------------------------------------------------------
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 1 of 11)
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
Home Loan Group I II
-----------------------------------------------------------------------------------
Current Balance (as of $526,291,555 $22,148,064
11/28/00)
Loan Count 13,975 380
Average Balance $37,660 $58,284
Maximum Balance $100,000 $100,000
-----------------------------------------------------------------------------------
WA Gross WAC 13.961% 13.452%
Range of Gross Coupons 8.250% to 18.750% 9.125% to 17.490%
WA Net WAC (%) 13.381% 12.872%
WA Remaining Term (mos) 234 255
WA Age (mos) 2 2
WA Orig. Term (mos) 236 257
-----------------------------------------------------------------------------------
Balloon / Fully Amortizing 0.28% / 99.72% 2.08% / 97.92%
First Lien / Second Lien 0.03% / 99.97% 0.00% / 100.00%
-----------------------------------------------------------------------------------
WA Credit Score 696 706
Up to 639 0.01% 0.00%
640 to 679 29.80% 15.81%
680 to 719 50.13% 57.03%
720 to 759 17.85% 23.64%
760 to 799 2.18% 3.52%
800 or greater 0.01% 0.00%
-----------------------------------------------------------------------------------
WA Debt-to-Income Ratio 40.24% 42.12%
Range of Debt-to-Income 12.00% to 50.00% 20.00% to 50.00%
Ratios
WA CLTV 116.20% 113.23%
% CLTVs > 100.00% 93.53% 91.95%
Range of CLTVs 13.00% to 126.00% 12.00% to 125.00%
% of Pool with Prepay 52.95% 54.28%
Penalties
-----------------------------------------------------------------------------------
Property Type
Single Family Detached 91.25% 86.17%
Planned Unit Development 4.80% 12.67%
Condominium 2.69% 0.29%
Townhouse 0.78% 0.63%
Two to Four Family 0.45% 0.24%
Manufactured Housing 0.02% 0.00%
-----------------------------------------------------------------------------------
Occupancy Status
Owner / Non-Owner Occupied 100.00% / 0.00% 100.00% / 0.00%
Loan Purpose
Debt Consolidation 87.48% 79.59%
Cash Out/Refinance 9.62% 12.52%
DC & HI Combination 1.64% 3.93%
Other 1.26% 3.96%
-----------------------------------------------------------------------------------
Geographic Concentration (>
5%)
CA (9.08%) CA (28.75%)
FL (6.81%) MD (9.03%)
MD (5.68%) VA (6.62%)
WA (5.97%)
-----------------------------------------------------------------------------------
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 2 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Home Loan Rates
Range of Number of Statistical Percentage of
Cut-off Date
Loan Rates (%) Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
8.001 to 8.500 1 $29,443.17 0.01%
9.001 to 9.500 3 69,840.33 0.01%
9.501 to 10.000 5 102,915.97 0.02%
10.001 to 10.500 14 335,977.93 0.06%
10.501 to 11.000 21 575,726.69 0.11%
11.001 to 11.500 53 1,686,766.41 0.32%
11.501 to 12.000 445 17,780,358.05 3.38%
12.001 to 12.500 664 27,274,347.40 5.18%
12.501 to 13.000 2,748 109,514,255.21 20.81%
13.001 to 13.500 1,689 69,214,515.26 13.15%
13.501 to 14.000 2,798 108,598,840.16 20.63%
14.001 to 14.500 1,446 54,357,455.49 10.33%
14.501 to 15.000 1,854 66,598,462.77 12.65%
15.001 to 15.500 564 19,527,638.86 3.71%
15.501 to 16.000 270 8,927,842.22 1.70%
16.001 to 16.500 167 5,357,397.21 1.02%
16.501 to 17.000 726 21,403,800.14 4.07%
17.001 to 17.500 253 7,449,499.67 1.42%
17.501 to 18.000 230 6,726,444.94 1.28%
18.001 to 18.500 22 699,039.43 0.13%
18.501 or greater 2 60,988.06 0.01%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Percentage
Cut-off Date of
Home Loan Amounts Home Loans Principal Home Loan
Balance Pool
-------------------- ---------------------------------------------
Up to 2,646 $56,298,176.48 10.70%
$25,000.00
$25,000.01 to 9,219 339,144,894.11 64.44%
$50,000.00
$50,000.01 to 2,092 129,249,721.32 24.56%
$75,000.00
$75,000.01 to 18 1,598,763.46 0.30%
$100,000.00
---------------------------------------------
Total 13,975 $526,291,555.37 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 3 of 11)
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Combined Loan-to-Value Ratios
-----------
Range of Combined Number of Home Statistical Percentage
Cut-off Date of
Loan-to-Value Home Loans Principal Home Loan
Ratios (%) Balance Pool
-------------------- ----------------------------------------------
Up to 70.00 33 $973,810.99 0.19%
70.01 to 75.00 15 486,616.62 0.09%
75.01 to 80.00 71 2,066,031.41 0.39%
80.01 to 85.00 58 1,831,642.42 0.35%
85.01 to 90.00 115 3,480,876.10 0.66%
90.01 to 95.00 285 8,864,564.23 1.68%
95.01 to 100.00 529 16,371,254.59 3.11%
100.01 to 105.00 851 28,734,019.73 5.46%
105.01 to 110.00 1,585 55,918,628.09 10.63%
110.01 to 115.00 2,202 81,263,356.68 15.44%
115.01 to 120.00 2,715 105,224,758.73 19.99%
120.01 to 125.00 5,511 220,781,981.22 41.95%
Greater than 125.00 5 294,014.56 0.06%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Months Remaining to Maturity
Months Remaining Number of Statistical Percentage of
Cut-off Date
to Maturity Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
0 to 96 57 $1,424,748.15 0.27%
97 to 108 12 303,190.70 0.06%
109 to 120 546 16,506,476.25 3.14%
121 to 144 12 422,492.74 0.08%
145 to 156 10 305,839.72 0.06%
157 to 168 65 1,806,730.63 0.34%
169 to 180 6,091 212,213,698.51 40.32%
181 to 288 2,054 81,725,617.53 15.53%
289 to 300 5,079 210,104,015.05 39.92%
Greater than 300 49 1,478,746.09 0.28%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 4 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Year of Origination
Number of Statistical Percentage of
Cut-off Date
Year of Origination Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
1996 2 $63,256.34 0.01%
1997 5 122,413.33 0.02%
1998 26 813,063.46 0.15%
1999 194 5,994,088.63 1.14%
2000 13,748 519,298,733.61 98.67%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Geographic Distribution of Mortgaged Properties
Number of Statistical Percentage of
Cut-off Date
State Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
California 1,149 $47,792,530.63 9.08%
Florida 965 35,829,823.14 6.81%
Maryland 775 29,885,790.57 5.68%
Pennsylvania 724 26,047,986.66 4.95%
Virginia 661 25,214,901.34 4.79%
Ohio 619 22,812,483.32 4.33%
Indiana 576 20,671,164.00 3.93%
Georgia 516 19,419,570.01 3.69%
Illinois 508 19,134,407.87 3.64%
Arizona 459 17,823,722.83 3.39%
Alabama 470 16,862,391.56 3.20%
Michigan 396 14,613,793.67 2.78%
New York 386 14,118,341.69 2.68%
Missouri 377 12,997,522.12 2.47%
Washington 311 12,513,146.16 2.38%
Colorado 279 11,526,771.79 2.19%
Wisconsin 308 11,495,675.20 2.18%
Kansas 305 10,792,316.05 2.05%
Other (<2%) 4,191 156,739,216.76 29.78%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 5 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Debt-to-Income Ratio
Number of Statistical Percentage of
Cut-off Date
Debt-to-Income Ratio Home Loans Principal Home Loan
(%) Balance Pool
--------------------------------------------------------------------
Up to 20.00 77 $2,449,059.34 0.46%
20.01 to 25.00 319 10,882,750.93 2.07%
25.01 to 30.00 1,044 36,321,363.23 6.90%
30.01 to 35.00 2,139 76,005,714.24 14.44%
35.01 to 40.00 3,096 113,122,148.16 21.49%
40.01 to 45.00 4,804 176,274,809.41 33.49%
45.01 to 50.00 2,496 111,235,710.06 21.14%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Credit Scores
Range of Number Statistical Percentage of
Cut-off Date
Credit Scores Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
620 to 639 3 $67,853.14 0.01%
640 to 659 1,217 35,855,413.59 6.81%
660 to 679 3,414 121,009,826.96 22.99%
680 to 699 3,581 136,771,275.71 25.99%
700 to 719 3,064 127,072,000.33 24.14%
720 to 739 1,622 64,585,707.26 12.27%
740 to 759 768 29,389,463.02 5.58%
760 to 779 246 9,329,593.23 1.77%
780 to 799 58 2,150,854.89 0.41%
800 or greater 2 59,567.24 0.01%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 6 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group I
Prepay Penalties
Range of Number Statistical Percentage of
Cut-off Date
Prepayment Penalty Home Loans Principal Home Loan
Terms Balance Pool
-------------------- ----------------------------------------------
None 6,712 $247,598,653.30 47.05%
3 months 2 53,888.59 0.01%
6 months 9 263,061.77 0.05%
12 months 235 9,936,210.84 1.89%
24 months 20 812,404.92 0.15%
25 months 1 34,175.84 0.01%
30 months 33 1,365,084.39 0.26%
32 months 1 31,747.17 0.01%
36 months 6,533 251,124,703.58 47.72%
42 months 18 803,641.65 0.15%
48 months 1 58,872.79 0.01%
60 months 387 13,363,092.81 2.54%
N/A (A) 23 846,017.72 0.17%
----------------------------------------------
Total 13,975 $526,291,555.37 100.00%
Note: (A) Will not exceed 60 months.
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 7 of 11)
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Home Loan Rates
Range of Number of Statistical Percentage of
Cut-off Date
Loan Rates (%) Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
9.001 to 9.500 2 $118,182.12 0.53%
11.001 to 11.500 3 174,343.04 0.79%
11.501 to 12.000 17 1,081,335.53 4.88%
12.001 to 12.500 28 1,736,328.61 7.84%
12.501 to 13.000 96 5,875,554.88 26.53%
13.001 to 13.500 67 4,080,478.28 18.42%
13.501 to 14.000 81 4,721,740.04 21.32%
14.001 to 14.500 35 1,929,408.18 8.71%
14.501 to 15.000 25 1,277,631.27 5.77%
15.001 to 15.500 12 564,893.00 2.55%
15.501 to 16.000 5 274,196.22 1.24%
16.001 to 16.500 2 62,763.68 0.28%
16.501 to 17.000 6 216,249.91 0.98%
17.001 to 17.500 1 34,959.28 0.16%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Percentage
Cut-off Date of
Home Loan Amounts Home Loans Principal Home Loan
Balance Pool
-------------------- ---------------------------------------------
Up to 9 $188,621.16 0.85%
$25,000.00
$25,000.01 to 124 5,524,480.32 24.94%
$50,000.00
$50,000.01 to 233 15,134,165.41 68.33%
$75,000.00
$75,000.01 to 14 1,300,797.15 5.87%
$100,000.00
---------------------------------------------
Total 380 $22,148,064.04 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 8 of 11)
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Combined Loan-to-Value Ratios
Range of Combined Number of Home Statistical Percentage
Cut-off Date of
Loan-to-Value Home Loans Principal Home Loan
Ratios (%) Balance Pool
-------------------- ----------------------------------------------
Up to 70.00 2 $88,603.26 0.40%
75.01 to 80.00 1 17,963.79 0.08%
85.01 to 90.00 7 319,454.76 1.44%
90.01 to 95.00 12 527,522.68 2.38%
95.01 to 100.00 17 827,891.54 3.74%
100.01 to 105.00 38 2,277,366.23 10.28%
105.01 to 110.00 58 3,137,656.71 14.17%
110.01 to 115.00 80 4,654,160.79 21.01%
115.01 to 120.00 77 4,617,996.50 20.85%
120.01 to 125.00 88 5,679,447.78 25.64%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Months Remaining to Maturity
Months Remaining Number of Statistical Percentage of
Cut-off Date
to Maturity Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
Up to 96 1 $52,775.06 0.24%
109 to 120 12 638,254.13 2.88%
157 to 168 7 297,273.27 1.34%
169 to 180 97 5,214,090.91 23.54%
181 to 288 64 3,862,153.30 17.44%
289 to 300 188 11,464,161.06 51.76%
Greater than 300 11 619,356.31 2.80%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 9 of 11)
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Year of Origination
Number of Statistical Percentage of
Cut-off Date
Year of Origination Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
1998 1 $52,775.06 0.24%
1999 13 719,827.51 3.25%
2000 366 21,375,461.47 96.51%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Geographic Distribution of Mortgaged Properties
Number of Statistical Percentage of
Cut-off Date
State Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
California 108 $6,366,889.40 28.75%
Maryland 35 1,999,141.49 9.03%
Virginia 22 1,466,230.14 6.62%
Washington 22 1,321,716.70 5.97%
Georgia 19 971,826.86 4.39%
Colorado 16 943,662.63 4.26%
New York 12 709,247.11 3.20%
Arizona 12 690,057.00 3.12%
Illinois 13 619,479.38 2.80%
Ohio 10 608,159.07 2.75%
New Jersey 9 500,829.16 2.26%
Florida 9 467,918.69 2.11%
Other (<2%) 93 5,482,906.41 24.76%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 10 of 11)
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
Loan Group II
Debt-to-Income Ratio
Number of Statistical Percentage of
Cut-off Date
Debt-to-Income Ratio Home Loans Principal Home Loan
(%) Balance Pool
--------------------------------------------------------------------
15.01 to 20.00 1 $74,728.73 0.34%
20.01 to 25.00 4 185,212.54 0.84%
25.01 to 30.00 20 1,019,634.80 4.60%
30.01 to 35.00 40 2,278,850.16 10.29%
35.01 to 40.00 75 4,454,293.50 20.11%
40.01 to 45.00 100 5,991,676.96 27.05%
45.01 to 50.00 140 8,143,667.35 36.77%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
Credit Scores
Range of Number Statistical Percentage of
Cut-off Date
Credit Scores Home Loans Principal Home Loan
Balance Pool
-------------------- ----------------------------------------------
640 to 659 10 $432,781.69 1.95%
660 to 679 64 3,069,551.64 13.86%
680 to 699 93 5,190,525.58 23.44%
700 to 719 120 7,439,433.89 33.59%
720 to 739 54 3,730,644.29 16.84%
740 to 759 24 1,506,179.83 6.80%
760 to 779 14 728,998.28 3.29%
780 to 799 1 49,948.84 0.23%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
Computational Materials: Information Relating to the Collateral (Page 11 of 11)
----------------------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
THE DESCRIPTION OF THE COLLATERAL CONTAINED IN THE
PROSPECTUS SUPPLEMENT.
----------------------------------------------------------------------------------------------
Loan Group II
Prepay Penalties
Range of Number Statistical Percentage of
Cut-off Date
Prepayment Penalty Home Loans Principal Home Loan
Terms Balance Pool
-------------------- ----------------------------------------------
None 178 $10,126,114.95 45.72%
12 months 6 347,817.07 1.57%
24 months 1 74,940.06 0.34%
30 months 1 61,971.14 0.28%
36 months 188 11,195,052.24 50.55%
42 months 1 53,950.69 0.24%
60 months 5 288,217.89 1.30%
----------------------------------------------
Total 380 $22,148,064.04 100.00%
</TABLE>
________________________________________________________________________________
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter. This information should be considered only after reading the
Statement Regarding Assumptions as to Securities, Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement. You may obtain a copy of the
Statement from your sales representative.
Worldwide Capital Partner
<PAGE>
