Residential Funding Securities Corporation
This information was prepared by Bear, Stearns & Co. Inc. in its capacity as
lead underwriter. This information was prepared for informational purposes only.
It is not an offer to buy or sell any MBS/ABS instrument. In the event of such
offering, this information is deemed superseded & amended entirely by a
Prospectus or Prospectus Supplement. It is not an official confirmation of terms
and is based on information generally available to the public from sources
believed to be reliable. No representation is made of accuracy or completeness
or that any returns indicated will be achieved. Any changes to assumptions may
have a material impact on returns. Past performance is not indicative of future
results. The related security may only be transferred in accordance with U.S. or
other relevant securities laws and according to the terms of such security. --
Residential Funding Corporation and affiliates, Residential Funding Securities
Corporation and RFSC International Limited.
Worldwide Capital Partner
New Issue Computational Materials
---------------------------------
$583,771,000 (Approximate)
Home Loan-Backed Notes,
Series 2000-HI4
Residential Funding Mortgage Securities II, Inc.
Depositor
Home Loan Trust 2000-HI4
Issuer
Residential Funding Corporation
Seller and Master Servicer
September 6, 2000
<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. The
Information is provided solely by Residential Funding Securities Corp. ("RFSC"),
not as agent for any issuer, and although it may be based on data supplied to it
by an issuer, the issuer has not participated in its preparation and makes no
representation regarding its accuracy or completeness. 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 RFSC 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 RFSC 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. RFSC. 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. RFSC 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 RFSC.
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 1 of 10)
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
Loan Group I (as of the Statistical Cut-off Date)
Total Number of Loans: 14,904
Initial Principal Balance: $555,523,398.67
Average Loan Balance: $37,273.44
Wtd Avg Range
Home Loan Rate: 13.973% (9.095% - 19.760%)
Remaining Term (months): 2 (56 - 360)
Original Term (months): 234 (60 - 360)
Combined Loan-to-Value Ratio: 116.12%
Credit Score: 696
Debt-to-Income Ratio: 40.04%
Lien Position:
First Lien 0.03%
Junior Lien 99.97%
Property Type:
Single Family Residence 90.37%
Planned Unit Development 5.39%
Condominium 2.85%
Townhouse 0.96%
Other 0.43%
Loan Purpose:
Debt Consolidation 85.15%
Cash Out Refinance 10.19%
DC & HI Combo 3.28%
Other 1.38%
Geographic Concentration: CA: 9.59%
(States representing at least 5% of the FL: 6.96%
Group I principal balance as of the MD: 5.52%
Statistical Cut-off Date) PA: 5.21%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 2 of 10)
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 Cut-off Percentage of
Date
Loan Rates (%) Home Loans Principal Balance Home Loan Pool
------------------------ ----------------------------------------------------
9.001 to 9.500 8 $183,637.05 0.03%
9.501 to 10.000 12 280,201.16 0.05%
10.001 to 10.500 37 960,931.53 0.17%
10.501 to 11.000 51 1,417,896.79 0.26%
11.001 to 11.500 77 2,067,527.75 0.37%
11.501 to 12.000 504 18,663,099.59 3.36%
12.001 to 12.500 748 29,411,248.56 5.29%
12.501 to 13.000 2,666 105,814,508.90 19.05%
13.001 to 13.500 1,896 76,027,142.00 13.69%
13.501 to 14.000 3,085 119,740,413.95 21.56%
14.001 to 14.500 1,511 56,270,601.17 10.13%
14.501 to 15.000 1,830 65,852,325.80 11.85%
15.001 to 15.500 696 24,578,063.28 4.42%
15.501 to 16.000 213 7,049,062.38 1.27%
16.001 to 16.500 160 5,035,059.05 0.91%
16.501 to 17.000 802 24,038,518.76 4.33%
17.001 to 17.500 291 8,794,032.45 1.58%
17.501 to 18.000 288 8,486,724.29 1.53%
18.001 or greater 29 852,404.21 0.15%
----------------------------------------------
Total 14,904 $555,523,398.67 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Cut-off Percentage of
Date
Home Loan Amounts Home Loans Principal Balance Home Loan Pool
--------------------- -------------------------------------------------------
Up to 2,681 $56,402,118.39 10.15%
$25,000.00
$25,000.01 to 10,135 371,196,206.80 66.82%
$50,000.00
$50,000.01 to 2,078 127,069,822.89 22.87%
$75,000.00
$75,000.01 to 10 855,250.59 0.15%
$100,000.00
-------------------------------------------------------
Total 14,904 $555,523,398.67 100.00%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 3 of 10)
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 Cut-off Percentage of
Date
Loan-to-Value Ratios Home Loans Principal Balance Home Loan Pool
(%)
------------------------ ---------------------------------------------------
Up to 70.00 49 $1,394,360.24 0.25%
70.01 to 75.00 52 1,552,634.39 0.28%
75.01 to 80.00 159 4,285,228.61 0.77%
80.01 to 85.00 64 1,772,980.26 0.32%
85.01 to 90.00 142 4,068,545.83 0.73%
90.01 to 95.00 358 10,472,355.91 1.89%
95.01 to 100.00 486 14,948,264.87 2.69%
100.01 to 105.00 917 30,702,059.54 5.53%
105.01 to 110.00 1,558 54,446,030.96 9.80%
110.01 to 115.00 2,330 83,833,651.69 15.09%
115.01 to 120.00 2,869 109,595,290.40 19.73%
120.01 to 125.00 5,916 238,251,453.86 42.89%
Greater than 125.00 4 200,542.11 0.04%
---------------------------------------------------
Total 14,904 $555,523,398.67 100.00%
Months Remaining to Maturity
Months Remaining Number of Statistical Cut-off Percentage of
Date
to Maturity Home Loans Principal Balance Home Loan Pool
--------------------- ------------------------------------------------------
0 to 96 49 $1,280,665.75 0.23%
97 to 108 4 141,437.73 0.03%
109 to 120 576 17,730,095.86 3.19%
121 to 144 11 451,511.12 0.08%
145 to 156 9 280,984.31 0.05%
157 to 168 61 2,047,826.79 0.37%
169 to 180 6,728 230,574,821.05 41.51%
181 to 288 2,124 84,762,998.93 15.26%
289 to 300 5,341 218,232,057.13 39.29%
Greater than 300 1 21,000.00 0.00%
-----------------------------------------------------
Total 14,904 $555,523,398.67 100.00%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 4 of 10)
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 Cut-off Percentage of
Date
Year of Origination Home Loans Principal Balance Home Loan Pool
------------------------ -------------------------------------------------------
1996 1 $37,137.43 0.01%
1997 6 184,657.05 0.03%
1998 29 951,999.27 0.17%
1999 167 6,005,536.75 1.08%
2000 14,701 548,344,068.17 98.71%
-----------------------------------------------
Total 14,904 $555,523,398.67 100.00%
Geographic Distribution of Mortgaged Properties
Number of Statistical Cut-off Percentage of
Date
State Home Loans Principal Balance Home Loan Pool
----------------- -----------------------------------------------------
California 1,278 $53,283,154.00 9.59%
Florida 1,038 38,643,737.26 6.96%
Maryland 839 30,649,005.96 5.52%
Pennsylvania 796 28,969,498.87 5.21%
Virginia 744 27,573,194.35 4.96%
Ohio 631 23,110,850.36 4.16%
Illinois 527 19,955,729.87 3.59%
North Carolina 540 19,406,709.22 3.49%
Indiana 519 18,905,901.59 3.40%
Georgia 485 17,658,248.31 3.18%
Arizona 455 17,186,854.86 3.09%
Alabama 458 15,476,253.63 2.79%
Michigan 409 15,106,533.73 2.72%
Missouri 421 14,197,240.49 2.56%
New York 391 14,157,386.34 2.55%
Washington 362 14,084,308.47 2.54%
Colorado 320 13,687,133.56 2.46%
Wisconsin 306 11,285,447.53 2.03%
Other (<2%) 4,385 162,186,210.27 29.20%
---------------------------------------------------
Total 14,904 $555,523,398.67 100.00%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 5 of 10)
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 Cut-off Percentage of
Date
Debt-to-Income Ratio (%) Home Loans Principal Balance Home Loan Pool
----------------------- -----------------------------------------------------
Up to 20.00 95 $2,955,974.27 0.53%
20.01 to 25.00 384 12,602,844.06 2.27%
25.01 to 30.00 1,191 41,090,435.45 7.40%
30.01 to 35.00 2,232 78,792,505.32 14.18%
35.01 to 40.00 3,356 121,296,835.02 21.84%
40.01 to 45.00 5,155 189,491,076.06 34.11%
45.01 to 50.00 2,491 109,293,728.49 19.67%
-----------------------------------------------------
Total 14,904 $555,523,398.67 100.00%
Credit Scores
Range of Number Statistical Cut-off Percentage of
Date
Credit Scores Home Loans Principal Balance Home Loan Pool
--------------------- ------------------------------------------------------
620 to 639 19 $506,822.74 0.09%
640 to 659 1,417 41,974,489.99 7.56%
660 to 679 3,548 127,387,146.59 22.93%
680 to 699 3,726 141,800,072.41 25.53%
700 to 719 3,130 127,619,643.43 22.97%
720 to 739 1,795 69,877,841.94 12.58%
740 to 759 895 33,344,333.72 6.00%
760 to 779 312 11,024,839.93 1.98%
780 to 799 56 1,805,336.11 0.32%
800 or greater 6 182,871.81 0.03%
------------------------------------------------------
Total 14,904 $555,523,398.67 100.00%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 6 of 10)
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
Loan Group II (as of the Statistical Cut-off Date)
Total Number of Loans: 491
Initial Principal Balance: $28,248,934.44
Average Loan Balance: $57,533.47
Wtd Avg Range
Home Loan Rate: 13.485% (9.870% - 17.874%)
Remaining Term (months): 248 (46 - 300)
Original Term (months): 250 (60 - 300)
Combined Loan-to-Value Ratio: 113.50%
Credit Score: 705
Debt-to-Income Ratio: 42.40%
Lien Position:
First Lien 0.00%
Junior Lien 100.00%
Property Type:
Single Family Residence 84.06%
Planned Unit Development 13.80%
Condominium 1.21%
Other 0.93%
Loan Purpose:
Debt Consolidation 80.34%
Cash Out Refinance 12.09%
DC & HI Combo 4.90%
Other 2.67%
Geographic Concentration: CA: 31.27%
(States representing at least 5% of the MD: 10.96%
Group II principal balance as of the VA: 9.23%
Statistical Cut-off Date)
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 7 of 10)
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 Cut-off Percentage of
Date
Loan Rates (%) Home Loans Principal Balance Home Loan Pool
--------------------- --------------------------------------------------------
9.501 to 10.000 1 $16,515.51 0.06%
11.001 to 11.500 1 75,000.00 0.27%
11.501 to 12.000 23 1,417,733.24 5.02%
12.001 to 12.500 41 2,474,410.24 8.76%
12.501 to 13.000 114 7,130,719.62 25.24%
13.001 to 13.500 91 5,382,074.40 19.05%
13.501 to 14.000 105 6,226,286.87 22.04%
14.001 to 14.500 40 2,022,683.01 7.16%
14.501 to 15.000 44 2,150,649.79 7.61%
15.001 to 15.500 14 722,933.14 2.56%
15.501 to 16.000 1 49,987.20 0.18%
16.001 to 16.500 1 34,890.42 0.12%
16.501 to 17.000 12 440,289.96 1.56%
17.501 to 18.000 3 104,761.04 0.37%
-----------------------------------------------
Total 491 $28,248,934.44 100.00%
Current Home Loan Principal Balances
Range of Current Number of Statistical Cut-off Percentage of
Date
Home Loan Amounts Home Loans Principal Balance Home Loan Pool
--------------------- -------------------------------------------------------
Up to 7 $140,700.55 0.50%
$25,000.00
$25,000.01 to 178 7,655,515.29 27.10%
$50,000.00
$50,000.01 to 293 19,249,909.23 68.14%
$75,000.00
$75,000.01 to 13 1,202,809.37 4.26%
$100,000.00
-------------------------------------------------------
Total 491 $28,248,934.44 100.00%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 8 of 10)
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 Cut-off Percentage of
Date
Loan-to-Value Ratios Home Loans Principal Balance Home Loan Pool
(%)
------------------------ ------------------------------------------------
Up to 70.00 2 $72,976.04 0.26%
70.01 to 75.00 1 16,515.51 0.06%
75.01 to 80.00 1 75,000.00 0.27%
80.01 to 85.00 1 43,028.85 0.15%
85.01 to 90.00 7 398,099.61 1.41%
90.01 to 95.00 16 800,275.42 2.83%
95.01 to 100.00 22 1,138,085.46 4.03%
100.01 to 105.00 36 2,017,158.92 7.14%
105.01 to 110.00 93 4,955,679.48 17.54%
110.01 to 115.00 101 5,528,384.88 19.57%
115.01 to 120.00 92 5,778,347.24 20.46%
120.01 to 125.00 119 7,425,383.03 26.29%
------------------------------------------------
Total 491 $28,248,934.44 100.00%
Months Remaining to Maturity
Months Remaining Number of Statistical Cut-off Percentage of
Date
to Maturity Home Loans Principal Balance Home Loan Pool
------------------------ -----------------------------------------------
Up to 96 3 $152,792.46 0.54%
109 to 120 10 461,195.42 1.63%
145 to 156 1 57,887.35 0.20%
157 to 168 3 92,694.03 0.33%
169 to 180 152 8,372,096.67 29.64%
181 to 288 83 4,640,196.18 16.43%
289 to 300 239 14,472,072.33 51.23%
-----------------------------------------------
Total 491 $28,248,934.44 100.00%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 9 of 10)
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 Cut-off Percentage of
Date
Year of Origination Home Loans Principal Balance Home Loan Pool
----------------------- --------------------------------------------------
1998 1 $49,584.14 0.18%
1999 7 331,602.55 1.17%
2000 483 27,867,747.75 98.65%
--------------------------------------------------
Total 491 $28,248,934.44 100.00%
Geographic Distribution of Mortgaged Properties
Number of Statistical Cut-off Percentage of
Date
State Home Loans Principal Balance Home Loan Pool
----------------------- --------------------------------------------
California 147 $8,832,965.00 31.27%
Maryland 52 3,096,780.54 10.96%
Virginia 43 2,606,697.56 9.23%
Illinois 25 1,217,099.15 4.31%
Pennsylvania 18 1,024,795.68 3.63%
Colorado 17 975,805.14 3.45%
Washington 16 867,365.70 3.07%
Massachusetts 15 839,924.42 2.97%
Ohio 15 821,207.35 2.91%
Michigan 13 716,354.29 2.54%
Arizona 12 681,391.17 2.41%
Florida 9 574,493.76 2.03%
Other (<2%) 109 5,994,054.68 21.22%
---------------------------------------------
Total 491 $28,248,934.44 100.00%
<PAGE>
Residential Funding Mortgage Securities II, Inc.
Home Loan Trust 2000-HI4
Computational Materials: Information Relating to the Collateral (Page 10 of 10)
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 Cut-off Percentage of
Date
Debt-to-Income Ratio (%) Home Loans Principal Balance Home Loan Pool
------------------------- ---------------------------------------------------
15.01 to 20.00 2 $99,103.80 0.35%
20.01 to 25.00 7 430,185.70 1.52%
25.01 to 30.00 24 1,313,677.66 4.65%
30.01 to 35.00 47 2,779,173.57 9.84%
35.01 to 40.00 82 4,812,172.49 17.03%
40.01 to 45.00 129 7,151,308.04 25.32%
45.01 to 50.00 200 11,663,313.18 41.29%
----------------------------------------------------
Total 491 $28,248,934.44 100.00%
Credit Scores
Range of Number Statistical Cut-off Percentage of
Date
Credit Scores Home Loans Principal Balance Home Loan Pool
--------------------- ------------------------------------------------------
640 to 659 18 $699,852.39 2.48%
660 to 679 82 3,915,552.55 13.86%
680 to 699 125 6,925,385.03 24.52%
700 to 719 149 9,213,435.76 32.62%
720 to 739 71 4,564,584.27 16.16%
740 to 759 29 1,874,050.36 6.63%
760 to 779 16 996,168.72 3.53%
780 to 799 1 59,905.36 0.21%
------------------------------------------------------
Total 491 $28,248,934.44 100.00%
<PAGE>
