-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PQ1XU8QwD5E8DxNzAU4Ima3zw/FP0TNZDPe7EFXQ3JcActOs5ASd+BPsKEuBIljl 743JJctv27CYQ63FpUZl4A== 0000893220-98-001464.txt : 19980914 0000893220-98-001464.hdr.sgml : 19980914 ACCESSION NUMBER: 0000893220-98-001464 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980908 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980910 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA MORTGAGE LOAN TRUST 1998-3 CENTRAL INDEX KEY: 0001070168 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-61474-07 FILM NUMBER: 98707818 BUSINESS ADDRESS: STREET 1: ADVANTA MORTGAGE CONDUIT SERVICES INC STREET 2: ATTN MILTON RISEMAN CITY: SAN DIEGO STATE: CA ZIP: 92127 BUSINESS PHONE: 6196741800 8-K 1 ADVANTA MORTGAGE LOAN TRUST 1998-3 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 8, 1998 Advanta Mortgage Loan Trust 1998-3 (Exact name of registrant as specified in its charter) New York Application Pending (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) c/o Advanta Mortgage Conduit 92127 Services, Inc. (Zip Code) Attention: Carl Forsyth 16875 West Bernardo Drive San Diego, California (Address of Principal Executive Offices) Registrant's telephone number, including area code (619) 674-1800 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) 2 Item 5. Other Events In connection with the offering of Advanta Mortgage Loan Trust 1998-3 Mortgage Loan Asset-Backed Certificates, Series 1998-3, described in a Prospectus Supplement to be dated as of September 15, 1998, certain "Computational Materials" within the meanings of the May 20, 1994 Kidder, Peabody No-Action Letter and the February 17, 1995 Public Securities Association No-Action Letter were furnished to certain prospective investors (the "Related Computational Materials"). Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Not applicable (b) Not applicable (c) Exhibit 99.1. Related Computational Materials (as defined in Item 5 above). 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ADVANTA MORTGAGE LOAN TRUST 1998-3 By: Advanta Mortgage Conduit Services, Inc., as Sponsor By: /s/ Mark T. Dunsheath ----------------------------- Name: Mark T. Dunsheath Title: Vice President Dated: September 10, 1998 4 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION PAGE NO. - ----------- ----------- -------- 99.1 Related Computational Materials (as 5 defined in Item 5 above). EX-99.1 2 RELATED COMPUTATIONAL MATERIALS 1 EXHIBIT 99.1 $500,000,000 (APPROXIMATE) ADVANTA MORTGAGE LOAN TRUST 1998-3 $500,000,000 Adjustable Rate Class A-1 Group I Certificates MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1998-3 ADVANTA MORTGAGE CONDUIT SERVICES, INC. ("ADVANTA CONDUIT") DEPOSITOR ADVANTA MORTGAGE CORP. USA ("ADVANTA") SPONSOR AND MASTER SERVICER Computational Materials Neither the Issuer of the Certificates nor any of its affiliates make any representation 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 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. 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 Certificates should be made by you based solely upon all of the information contained in the final Prospectus. 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 securities 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 securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final Prospectus relating to the securities. All information described herein is preliminary, limited in nature and subject to completion or amendment. No representation is made that the above referenced securities will actually perform as described in any scenario presented. The Depositor has not prepared, reviewed or participated in the preparation hereof, is not responsible for the accuracy hereof and has not authorized its dissemination. A final Prospectus and Prospectus supplement may be obtained by contacting Salomon Smith Barney Syndicate Desk at (212) 783-3727. 2 - -------------------------------------------------------------------------------- CERTIFICATES APPROXIMATE SIZE: $500,000,000 - -------------------------------------------------------------------------------- TITLE OF SECURITIES: Advanta Mortgage Loan Trust 1998-3, Class A-1 Group I Floating Rate Certificates DESCRIPTION OF COLLATERAL: This MBIA-wrapped transaction is supported by a pool of adjustable rate, first and second lien Mortgages ("ARMs"). The aggregate Cut-off Date principal balance of the loans (initial loans) is expected to be approximately $400,000,000. The expected principal balance of subsequent loans to be funded ("prefunding") is expected to be approximately, $105,562,000. PREPAYMENT ASSUMPTION: 25% CPR Actual prepayments may vary AVG. LIFE TO CALL (APP.): 2.92 years AVG. LIFE TO MATURITY (APP.): 3.18 years EXPECTED MATURITY (TO CALL): August 2006 EXPECTED MATURITY (TO MATURITY): April 2016 COUPON: 1M LIBOR + [ ] bps * COUPON DAY COUNT: Actual/360 STEP UP COUPON: If the 10% clean up call is not exercised the Certificates spread to LIBOR steps up to 2 times its initial spread. INTEREST CARRY FORWARD The Supplemental Interest Amount with interest accrued at the pass through rate, may be paid with monies' otherwise due certain R Certificates, subject to certain limitations described in the Prospectus supplement. * Subject to the lesser of: 1) 1 M LIBOR + [ ] bps; and 2) Available Funds Cap (calculated using the weighted average of the loan rates net of servicing fees, other ongoing fees of the trust and surety carveout of 75 bps after 6 months). Any difference (subject to the Maximum Rate) will be carried forward, i.e. the Supplemental Interest Amount. 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. 3 LEGAL FINAL: [October 2029] PRICING DATE: September 9/10, 1998 SETTLEMENT DATE: September 23, 1998 CLEAN-UP CALL: The Master Servicer will have the right to purchase from the trust all collateral, within certain limitations on any remittance date after the outstanding aggregate mortgage balances of the mortgage loans in the trust has declined to 10% or less of the original mortgage balance of the trust. FORM OF CERTIFICATES: Book entry form, same day funds (through DTC, CEDEL or Euroclear). MASTER SERVICER: Advanta Mortgage Corp. USA ("Advanta") SERVICING FEE: 50 basis points per annum. TRUSTEE: Bankers Trust Company of California PAYMENT DATE: The 25th day of each month or, if such day is not a business day, the next succeeding business day, beginning in October, 1998. PAYMENT DELAY: No payment delay. INTEREST ACCRUAL PERIOD: Interest will accrue from the 25th day of the preceding month until the 24th day of the current month based on an actual/360 day count. For the first payment date, October, 1998, the Certificates will accrue interest from the settlement date, to October 25, 1998. CERTIFICATE RATINGS: The Certificates will be rated AAA/Aaa by Standard & Poor's and Moody's, respectively. CERTIFICATE INSURER: MBIA. MBIA's claims-paying ability is rated AAA/Aaa by Standard and Poor's and Moody's. CERTIFICATE: Timely interest and ultimate principal payments on the Certificates will be 100% guaranteed by MBIA. ERISA CONSIDERATIONS: All of the Certificates will be ERISA eligible. However, investors should consult with their counsel with respect to the consequences under ERISA and the Internal Revenue Code of the Plan's acquisition and ownership of such Certificates. TRUST TAX STATUS: REMIC Trust. LEGAL INVESTMENT: The Certificates will not be SMMEA eligible. 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. 4 CREDIT ENHANCEMENT: 1) Ongoing excess spread 2) Overcollateralization, if applicable (1) 3) Cross collateralization, if applicable (1) 4) 100% wrap from MBIA guarantees timely payment of interest and ultimate payment of principal; (1) As required in the Pooling and Servicing Agreement PROSPECTUS: The Certificates are being offered pursuant to a Prospectus supplemented by a Prospectus Supplement (together, the "Prospectus"). Complete information with respect to the Certificates and the Collateral is contained in the Prospectus. The foregoing is qualified in its entirety by the information appearing in the Prospectus. To the extent that the foregoing is inconsistent with the Prospectus, the Prospectus shall govern in all respects. Sales of the Certificates may not be consummated unless the purchaser has received the Prospectus. 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. 5 Weighted Average Life Sensitivity Table
- --------------------------------------------------------------------------------------------------------- PREPAYMENT - CPR 0% 10% 20% 25% 30% 40% 50% TO CALL (10%) - ----------------------------- Weighted average life 20.89 7.26 3.70 2.92 2.37 1.67 1.22 Paydown window 347 228 120 95 77 54 40 Expected final Aug-27 Sep-17 Sep-08 Aug-06 Feb-05 Mar-03 Jan-02 TO MATURITY - ----------------------------- Weighted average life 20.93 7.65 4.03 3.18 2.59 1.82 1.34 Paydown window 358 347 261 211 174 123 92 Expected final Jul-28 Aug-27 Jun-20 Apr-16 Mar-13 Dec-08 May-06 - ---------------------------------------------------------------------------------------------------------
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. 6 STATISTICAL CALCULATION DATE - GROUP I POOL Principal Amount $275,521,082.63 Average Loan Balance $98,823.92 Max Loan Size $649,704.69 Lien Status 99.96% 1st / .04 2nd Loan Type 99.96% Non-Balloon 0.04% Balloon Contracts Property Type 89.21% Single Family Occupancy 96.15% Owner Occupied Weighted Avg. CLTV 80.71% Coupon Range 6.38% - 16.45 Index 1.84% 12M CMT 98.16% 6M LIBOR Weighted Average Coupon 10.16% Gross Margin Range 2.12 - 11.40% Average Gross Margin 6.18% Wtd. Ave. Rem. Mat. 356.25 months Weighted Ave. Seasoning 1.67 months Top State Concentrations 15.56% CA, 12.44% MI, 5.78% FL, 5.57% OH, 5.06% IL, 5.02% WA
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. 7 GROUP I GEOGRAPHIC DISTRIBUTION
% OF AGGREGATE NUMBER OF MORTGAGE AGGREGATE PRINCIPLE BALANCE PRINCIPLE STATE LOANS BALANCE - ---------------------------------------------------------------------------------------- Alabama 6 $ 568,798.15 0.21% Alaska 4 595,145.90 0.22 Arizona 66 6,068,759.94 2.20 Arkansas 9 480,994.87 0.17 California 242 42,878,146.76 15.56 Colorado 85 9,173,290.17 3.33 Connecticut 28 3,180,900.48 1.15 Delaware 10 1,134,849.74 0.41 District of Columbia 2 183,378.59 0.07 Florida 177 15,929,986.69 5.78 Georgia 37 3,473,817.52 1.26 Idaho 31 2,697,000.00 0.98 Illinois 135 13,955,122.62 5.06 Indiana 97 6,266,783.03 2.27 Iowa 8 427,041.15 0.15 Kansas 15 1,117,671.40 0.41 Kentucky 21 1,584,407.04 0.58 Louisiana 14 1,564,561.57 0.57 Maine 10 767,967.43 0.28 Maryland 60 6,431,994.45 2.33 Massachusetts 35 4,076,526.86 1.48 Michigan 459 34,287,727.88 12.44 Minnesota 18 1,570,877.85 0.57 Mississippi 9 595,243.93 0.22 Missouri 40 2,680,723.50 0.97 Montana 8 840,096.33 0.30 Nebraska 1 54,000.00 0.02 Nevada 86 10,415,774.63 3.78 New Hampshire 5 431,062.18 0.16 New Jersey 89 11,616,729.04 4.22 New Mexico 16 1,243,827.10 0.45 New York 56 7,045,986.83 2.56 North Carolina 49 3,931,099.26 1.43 North Dakota 2 154,878.00 0.06 Ohio 212 15,356,363.15 5.57 Oklahoma 31 2,353,593.74 0.85 Oregon 70 7,941,302.80 2.88 Pennsylvania 133 11,209,391.43 4.07 Rhode Island 15 1,162,325.85 0.42 South Carolina 16 1,707,561.03 0.62 South Dakota 1 39,968.75 0.01 Tennessee 29 2,707,601.28 0.98 Texas 53 4,820,405.84 1.75 Utah 62 7,220,197.24 2.62 Vermont 1 202,630.41 0.07 Virginia 38 3,988,881.34 1.45 Washington 114 13,820,382.40 5.02 West Virginia 7 459,003.87 0.17 Wisconsin 74 4,995,883.00 1.81 Wyoming 2 110,418.61 0.04 - ---------------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1) 275,521,081.63
(1) Values may not equal 100% due to rounding. 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. 8 GROUP I POOL DISTRIBUTION OF PRINCIPLE BALANCES
RANGE ON PRINCIPLE NUMBER OF MORTGAGE LOANS % OF AGGREGATE BALANCES BALANCE PRINCIPLE BALANCE - ----------------------------------------------------------------------------------- 14 - 5,000 1 $ 14.56 0.00% 10,001 - 15,000 3 44,486.59 0.02 15,001 - 20,000 15 269,754.55 0.10 20,001 - 25,000 33 758,162.07 0.28 25,001 - 30,000 62 1,744,510.35 0.63 30,001 - 35,000 69 2,253,562.66 0.82 35,001 - 40,000 105 3,980,244.41 1.44 40,001 - 45,000 118 5,061,938.79 1.84 45,001 - 50,000 136 6,517,995.97 2.37 50,001 - 55,000 123 6,479,790.90 2.35 55,001 - 60,000 132 7,585,506.93 2.75 60,001 - 65,000 158 9,933,429.67 3.61 65,001 - 70,000 120 8,135,939.23 2.95 70,001 - 75,000 134 9,727,882.63 3.53 75,001 - 80,000 142 11,010,354.17 4.00 80,001 - 85,000 109 9,033,096.57 3.28 85,001 - 90,000 110 9,622,304.05 3.49 90,001 - 95,000 104 9,635,803.17 3.50 95,001 - 100,000 106 10,363,398.17 3.76 100,001 - 150,000 614 74,444,654.34 27.02 150,001 - 200,000 193 33,156,247.10 12.03 200,001 - 250,000 99 22,017,066.12 7.99 250,001 - 300,000 47 12,710,498.62 4.61 300,001 - 350,000 27 8,725,534.74 3.17 350,001 - 400,000 13 4,933,016.34 1.79 400,001 - 450,000 7 3,004,497.50 1.09 450,001 - 500,000 4 1,895,884.63 0.69 500,001 - 550,000 1 527,200.00 0.19 600,001 - 649,705 3 1,948,306.80 0.71 - ----------------------------------------------------------------------------------- Totals 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. Minimum: $14.56 Maximum: $649,704.69 Weighted Average by Current Balance: $98,823.92 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. 9 GROUP I POOL DISTRIBUTION OF COUPON RATES
NUMBER OF AGGREGATE PRINCIPLE % OF AGGREGATE RANGE OF COUPON RATES MORTGAGE LOANS BALANCE PRINCIPLE BALANCE - -------------------------------------------------------------------------------- 6.375 - 7.000 3 $ 379,010.05 0.14% 7.001 - 8.000 71 8,287,530.52 3.01 8.001 - 9.000 401 47,860,631.16 17.37 9.001 - 10.000 752 84,107,745.63 30.53 10.001 - 11.000 810 76,052,316.19 27.60 11.001 - 12.000 442 36,644,688.43 13.30 12.001 - 13.000 218 16,319,558.53 5.92 13.001 - 14.000 71 4,429,560.83 1.61 14.001 - 15.000 13 939,622.00 0.34 15.001 - 16.000 5 427,648.98 0.16 16.001 - 16.450 2 72,769.31 0.03 - -------------------------------------------------------------------------------- Totals 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. Minimum: 6.375% Maximum: 16.450% Weighted Average by Current Balance: 10.16% 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. 10 GROUP I POOL DISTRIBUTION OF CLTV
RANGE OF CLTV RATIOS NUMBER OF AGGREGATE PRINCIPLE % OF AGGREGATE PRINCIPLE MORTGAGE LOANS BALANCE BALANCE - -------------------------------------------------------------------------------------- 20.45 - 50.00 60 $ 3,233,496.58 1.17% 50.01 - 55.00 30 2,088,552.20 0.76 55.01 - 60.00 59 3,972,123.34 1.44 60.01 - 65.00 81 6,397,142.19 2.32 65.01 - 70.00 167 13,173,413.31 4.78 70.01 - 75.00 309 29,585,693.33 10.74 75.01 - 80.00 798 77,320,958.19 28.06 80.01 - 85.00 806 83,216,935.46 30.20 85.01 - 90.00 464 54,724,307.49 19.86 90.01 - 95.00 14 1,808,459.54 0.66 - -------------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. Minimum: 20.45% Maximum: 95.00% Weighted Average by Current Balance: 80.71% GROUP I POOL DISTRIBUTION OF LTV
NUMBER OF AGGREGATE PRINCIPLE % OF AGGREGATE PRINCIPLE RANGE OF LTV RATIOS MORTGAGE LOANS BALANCE BALANCE - ------------------------------------------------------------------------------------ 20.45 - 50.00 62 $ 3,339,060.13 1.21% 50.01 - 55.00 30 2,088,552.20 0.76 55.01 - 60.00 59 3,972,123.34 1.44 60.01 - 65.00 81 6,397,142.19 2.32 65.01 - 70.00 167 13,173,413.31 4.78 70.01 - 75.00 309 29,585,693.33 10.74 75.01 - 80.00 797 77,298,574.92 28.06 80.01 - 85.00 806 83,216,935.46 30.20 85.01 - 90.00 463 54,641,127.21 19.83 90.01 - 95.00 14 1,808,459.54 0.66 - ------------------------------------------------------------------------------------ Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. Minimum: 20.45% Maximum: 95.00% Weighted Average by Current Balance: 80.70% 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. 11 GROUP I POOL REMAINING TERM TO MATURITY DISTRIBUTION
RANGE TERM NUMBER OF MORTGAGE AGGREGATE PRINCIPLE % OF AGGREGATE TO MATURITY LOANS BALANCE PRINCIPLE BALANCE - -------------------------------------------------------------------------------- 132 - 132 1 $ 22,383.27 0.01% 169 - 180 26 1,599,238.20 0.58 217 - 228 3 180,893.80 0.07 229 - 240 27 1,726,749.28 0.63 253 - 264 1 64,600.00 0.02 277 - 288 1 64,500.00 0.02 289 - 300 7 659,139.28 0.24 325 - 336 1 68,355.72 0.02 337 - 348 3 184,620.13 0.07 349 - 360 2,718 270,950,601.95 98.34 - -------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. Minimum: 132.00 Maximum: 360.00 Weighted Average by Current Balance: 356.25 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. 12 GROUP I POOL DISTRIBUTION OF SEASONING
NUMBER OF AGGREGATE PRINCIPLE % OF AGGREGATE PRINCIPLE SEASONING MORTGAGE LOANS BALANCE BALANCE - -------------------------------------------------------------------------------- 0 - 6 2,767 $273,507,341.06 99.27% 7 - 12 17 1,806,737.17 0.66 13 - 18 3 184,620.13 0.07 163 - 168 1 22,383.27 0.01 - -------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. Minimum: 0.00 Maximum: 168.00 Weighted Average by Current Balance: 1.67 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. 13 GROUP I POOL MARGIN DISTRIBUTION
MARGIN RANGE NUMBER OF MORTGAGE AGGREGATE PRINCIPLE % OF AGGREGATE LOANS BALANCE PRINCIPLE BALANCE - -------------------------------------------------------------------------------- 2.12 - 3.00 74 $ 7,719,429.15 2.80% 3.01 - 4.00 98 10,967,687.13 3.98 4.01 - 5.00 408 42,783,091.28 15.53 5.01 - 6.00 717 71,929,714.99 26.11 6.01 - 7.00 695 67,941,939.30 24.66 7.01 - 8.00 461 46,292,300.14 16.80 8.01 - 9.00 219 18,227,761.31 6.62 9.01 - 10.00 96 8,043,849.93 2.92 10.01 - 11.00 19 1,576,829.29 0.57 11.01 - 11.40 1 38,479.11 0.01 - -------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. 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. 14 GROUP I POOL LIFETIME FLOOR DISTRIBUTION
LIFETIME FLOOR RANGE NUMBER OF MORTGAGE AGGREGATE PRINCIPLE % OF AGGREGATE LOANS BALANCE PRINCIPLE BALANCE - ------------------------------------------------------------------------------------- 2.700 - 2.999 1 $ 31,365.00 0.01% 3.500 - 3.999 2 186,145.99 0.07 4.000 - 4.499 26 2,649,566.19 0.96 4.500 - 4.999 51 5,030,077.40 1.83 5.000 - 5.499 102 9,597,449.51 3.48 5.500 - 5.999 134 11,971,639.27 4.35 6.000 - 6.499 40 3,574,286.79 1.30 6.500 - 6.999 43 3,214,652.42 1.17 7.000 - 7.499 31 2,801,617.10 1.02 7.500 - 7.999 260 25,920,356.21 9.41 8.000 - 8.499 73 8,205,371.99 2.98 8.500 - 8.999 229 26,883,611.44 9.76 9.000 - 9.499 188 21,752,482.80 7.90 9.500 - 9.999 340 40,555,128.10 14.72 10.000 - 10.499 274 27,455,697.07 9.97 10.500 - 10.999 359 35,395,472.43 12.85 11.000 - 11.499 210 17,055,338.70 6.19 11.500 - 11.999 170 14,584,298.31 5.29 12.000 - 12.499 105 8,257,616.79 3.00 12.500 - 12.999 76 5,509,553.78 2.00 13.000 - 13.499 40 2,572,514.74 0.93 13.500 - 13.999 21 1,346,734.47 0.49 14.000 - 14.499 8 678,457.32 0.25 14.500 - 14.999 2 36,878.50 0.01 15.000 - 15.499 1 182,000.00 0.07 16.000 - 16.450 2 72,769.31 0.03 - ------------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. 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. 15 GROUP I POOL NEXT RATE ADJUSTMENT DATE
DATE NUMBER OF MORTGAGE AGGREGATE PRINCIPLE % OF AGGREGATE LOANS BALANCE PRINCIPLE BALANCE - -------------------------------------------------------------------------------- Aug-98 1 $ 22,383.27 0.01% Sep-98 1 38,984.87 0.01 Oct-98 13 1,687,343.29 0.61 Nov-98 25 3,043,072.03 1.10 Dec-98 18 1,931,580.83 0.70 Jan-99 13 1,875,650.24 0.68 Feb-99 4 339,304.40 0.12 Jun-99 1 57,768.25 0.02 Jul-99 1 74,593.83 0.03 Sep-99 2 320,075.92 0.12 Oct-99 1 78,673.81 0.03 Dec-99 1 39,771.12 0.01 Jan-00 4 486,391.53 0.18 Feb-00 11 1,169,290.31 0.42 Mar-00 14 896,231.36 0.33 Apr-00 149 14,719,841.56 5.34 May-00 187 20,222,182.26 7.34 Jun-00 357 39,036,246.00 14.17 Jul-00 400 45,164,270.75 16.39 Aug-00 144 16,317,503.84 5.92 Dec-00 1 33,526.11 0.01 Jan-01 3 462,921.40 0.17 Feb-01 10 993,942.35 0.36 Mar-01 13 1,419,908.42 0.52 Apr-01 51 5,138,681.90 1.87 May-01 80 9,886,723.38 3.59 Jun-01 294 24,847,893.90 9.02 Jul-01 485 40,363,687.51 14.65 Aug-01 242 19,563,920.14 7.10 Jan-03 1 114,512.43 0.04 Feb-03 1 66,932.29 0.02 Mar-03 2 218,223.54 0.08 Apr-03 7 641,934.85 0.23 May-03 12 931,525.10 0.34 Jun-03 60 5,062,759.03 1.84 Jul-03 116 11,591,413.79 4.21 Aug-03 63 6,661,416.02 2.42 - -------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. 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. 16 GROUP I POOL PROPERTY TYPE DISTRIBUTION
PROPERTY TYPE NUMBER OF AGGREGATE PRINCIPLE % OF AGGREGATE PRINCIPLE MORTGAGE LOANS BALANCE BALANCE - ---------------------------------------------------------------------------------------- 2 Unit 75 $ 7,185,361.25 2.61% 3-4 Unit 21 2,517,329.47 0.91 Blanket Mortgages (<3) 4 524,414.92 0.19 Blanket Mortgages (3+) 1 254,766.36 0.09 Condo 101 9,892,166.85 3.59 Manufactured 86 6,596,896.86 2.39 SFR 2,458 245,801,066.08 89.21 Townhouse 42 2,749,079.84 1.00 - ---------------------------------------------------------------------------------------- Total 2,788 $275,521,081.63 100.00%(1)
(1) Values may not equal 100% due to rounding. 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. -----END PRIVACY-ENHANCED MESSAGE-----