-----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, KTaUOpnhRqoxIXw/F23KK/JIUloumELEQdhiHCIliOitzPAvz/wuPqdj+1gy/DVZ CI2PCLg8tEa5BwevAfaO8g== 0001144204-07-030153.txt : 20070604 0001144204-07-030153.hdr.sgml : 20070604 20070604162558 ACCESSION NUMBER: 0001144204-07-030153 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070430 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070604 DATE AS OF CHANGE: 20070604 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Impac Secured Assets Trust 2007-3 CENTRAL INDEX KEY: 0001397073 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-139462-02 FILM NUMBER: 07897795 BUSINESS ADDRESS: STREET 1: 19500 JAMBOREE ROAD CITY: IRVINE STATE: CA ZIP: 92612 BUSINESS PHONE: 949-475-3600 MAIL ADDRESS: STREET 1: 19500 JAMBOREE ROAD CITY: IRVINE STATE: CA ZIP: 92612 8-K 1 v077537_8k.htm
 
UNITED STATES
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) April 30, 2007
 
Impac Secured Assets Trust 2007-3
(Exact name of issuing entity as specified in its charter)

Impac Secured Assets Corp.
(Exact name of depositor as specified in its charter)

Impac Funding Corporation
(Exact name of sponsor as specified in its charter)

CALIFORNIA
 
333-139462-02
 
33-0715871
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
19500 Jamboree Road
Irvine, California
     
92612
(Address of Principal
Executive Offices)
     
(Zip Code)

Registrants telephone number, including area code, is (949) 475-3600
 



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 



2



Item 2.01
Acquisition or Disposition of Assets.
 
On April 30, 2007, a single series of certificates, entitled Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (the "Certificates"), were issued pursuant to a pooling and servicing agreement, dated as of April 1, 2007 (the "Agreement"), among Impac Secured Assets Corp., as depositor (the "Depositor"), Impac Funding Corporation as master servicer (the "Master Servicer") and Deutsche Bank National Trust Company as trustee (the "Trustee").
 
On May 18, 2007, following the closing of the initial issuance of the Certificates, the Trustee purchased from the Depositor certain Subsequent Mortgage Loans, as defined in the Agreement, with an aggregate principal balance equal to approximately $76,110,581.89 with funds on deposit in the pre-funding account (the "Pre-Funding Account") established pursuant to the Agreement at a purchase price equal to the principal balance thereof, which Subsequent Mortgage Loans were conveyed to the Trustee pursuant to a Subsequent Transfer Instrument, dated May 18, 2007, between the Depositor and the Trustee (the "Instrument"). Attached to the Instrument is the Mortgage Loan Schedule listing the Subsequent Mortgage Loans that are the subject of such Instrument.
 

 

3



Item 8.01.
Other Events.
 
Description of the Mortgage Pool
 
The Certificates, issued pursuant to the Agreement, evidence in the aggregate the entire beneficial ownership interest in a trust fund (the "Trust Fund"), consisting primarily of a segregated pool (the "Mortgage Pool") of adjustable-rate and fixed-rate, first and second lien, one- to four- family residential mortgage loans having original terms to maturity of not greater than 30 years (the "Subsequent Mortgage Loans"). As of the Closing Date, the Trust Fund primarily consisted of (i) the Mortgage Pool, which consisted of Mortgage Loans having an aggregate principal balance of approximately $ 795,601,639.09 as of April 1, 2007 and (ii) the Pre-Funding Account, which contained approximately $76,114,326.34.
 
As more fully described above, on May 18, 2007, the Depositor purchased the Subsequent Mortgage Loans with the funds on deposit in the Pre-Funding Account.
 
The tables attached as an exhibit hereto describe certain characteristics of the Mortgage Pool as of April 1, 2007, with respect to the Subsequent Mortgage Loans.
 

4


Item 9.01.
Financial Statements and Exhibits.

 
(a)
Not applicable
 
 
(b)
Not applicable
 
 
(c)
Not applicable
 
 
(d)
Exhibits:
 
 
Exhibit No.
Description
 
 
      4.2
Subsequent Transfer Instrument, dated as of May 18, 2007 between Impac Secured Assets Corp. as Depositor and Deutsche Bank National Trust Company, as Trustee.
 
 
     99.1
Characteristics of the Mortgage Pool as of April 1, 2007, relating to Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3.
 


5



 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized.
 
           
IMPAC SECURED ASSETS CORP.
               
               
           
By:
/s/ Ronald Morrison
             
Name: Ronald Morrison
             
Title: General Counsel & Secretary



Dated: June 4, 2007




6



EXHIBIT INDEX
 
 
Exhibit Number
Description
 
 
4.2
Subsequent Transfer Instrument, dated as of May 18, 2007 between Impac Secured Assets Corp. as Depositor and Deutsche Bank National Trust Company, as Trustee.
 
 
99.1
Characteristics of the Mortgage Pool as of April 1, 2007, relating to Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3.
 

 
 
 
7

EX-4.2 2 v077537_ex4-2.htm
SUBSEQUENT TRANSFER INSTRUMENT
 
Pursuant to this Subsequent Transfer Instrument, dated May 18, 2007 (the “Instrument”), between Impac Secured Assets Corp. as seller (the “Company”), and Deutsche Bank National Trust Company (“DBNTC”) as Trustee (the “Trustee”), and pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Agreement”), among Impac Secured Assets Corp., Impac Funding Corporation and the Trustee, the Company and the Trustee agree to the sale by the Company and the purchase by the Trustee of the Subsequent Mortgage Loans on the attached Schedule 1 of Mortgage Loans (the “Subsequent Mortgage Loans”).
 
Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Agreement.
 
Section 1. Conveyance of Subsequent Mortgage Loans; Acceptance of Mortgage Loans by the Trustee.
 
(a) The Company does hereby sell, transfer, assign, set over and convey to the Trustee without recourse, all of its right, title and interest in and to the Subsequent Mortgage Loans, including all amounts due on the Subsequent Mortgage Loans after the related Subsequent Cut-off Date, and all items with respect to the Subsequent Mortgage Loans to be delivered pursuant to Section 2.07 of the Agreement; provided, however that the Company reserves and retains all right, title and interest in and to amounts due on the Subsequent Mortgage Loans on or prior to the related Subsequent Cut-off Date. The Company, contemporaneously with the delivery of this Instrument, has delivered or caused to be delivered to the Trustee each item set forth in Section 2.02 of the Agreement. The transfer to the Trustee by the Company of the Subsequent Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is intended by the Company, the Master Servicer, the Trustee, the Certificateholders and the Certificate Insurer to constitute and to be treated as a sale by the Company to the Trust Fund.
 
(b) The Company, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey to the Trustee without recourse for the benefit of the Certificate holders and the Certificate Insurer all the right, title and interest of the Company, in, to and under the Subsequent Mortgage Loan Purchase Agreement, dated May 18, 2007, between the Company, as purchaser and Impac Funding Corporation, as seller (the “Subsequent Mortgage Loan Purchase Agreement”).
 
(c) The Trustee acknowledges receipt of, subject to the exceptions the applicable Custodian notes pursuant to the procedures described in Section 2.02 of the Agreement, the documents (or certified copies thereof) referred to in Section 2.1(b) of the Subsequent Mortgage Loan Purchase Agreement, and declares that it holds and will continue to hold those documents and any amendments, replacements or supplements thereto and all other assets as Trustee in trust for the use and benefit of all present and future Holders of the Certificates and the Certificate Insurer.
 
(d) Additional terms of the sale are set forth on Attachment A hereto.

 
Section 2. Representations and Warranties; Conditions Precedent.
 
(a) The Company hereby confirms that each of the conditions and the representations and warranties set forth in Section 2.07 of the Agreement are satisfied as of the date hereof.
 
(b) All terms and conditions of the Agreement are hereby ratified and confirmed; provided, however, that in the event of any conflict, the provisions of this Instrument shall control over the conflicting provisions of the Agreement.
 
(c) Limitation of Liability. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by DBNTC, not individually or personally but solely as the Trustee of the Company, in the exercise of the powers and authority conferred and vested in it, (b) the representations, undertakings and agreements herein made on the part of the Company are made and intended not as personal representations, undertakings and agreements by DBNTC but are made and intended for the purpose of binding only the Company, (c) nothing herein contained shall be construed as creating any liability on DBNTC, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties who are signatories to this Agreement and by any person claiming by, through or under such parties and (d) under no circumstances shall DBNTC be personally liable for the payment of any indebtedness or expenses of the Company or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Company under this Agreement.
 
Section 3. Recordation of Instrument.
 
To the extent permitted by applicable law, this Instrument, or a memorandum thereof if permitted under applicable law, is subject to recordation in all appropriate public offices for real property records in all of the counties or other comparable jurisdictions in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected by the Master Servicer at the Certificateholders’ expense on direction of the related Certificateholders, but only when accompanied by an Opinion of Counsel to the effect that such recordation materially and beneficially affects the interests of the Certificateholders or is necessary for the administration or servicing of the Subsequent Mortgage Loans.
 
Section 4. Governing Law.
 
This Instrument shall be construed in accordance with the laws of the State of New York and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws, without giving effect to principles of conflicts of law.
 
Section 5. Counterparts.
 
This Instrument may be executed in one or more counterparts and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed to be an original; such counterparts, together, shall constitute one and the same instrument.
-2-

 
Section 6. Successors and Assigns.
 
This Instrument shall inure to the benefit of and be binding upon the Company and the Trustee and their respective successors and assigns.
 
 
 
 
 

 
-3-


IMPAC SECURED ASSETS CORP.,
as Seller


By:      /s/ Ronald Morrison            
Name: Ronald Morrison
Title:   General Counsel & Secretary
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as trustee under the Pooling and Servicing Agreement relating to Impac Secured Assets Corp. Mortgage Pass-Through Certificates, Series 2007-3
 
 
By:      /s/ Marion Hogan            
Name: Marion Hogan
Title:   Associate
 
 
 
 
 
 
-4-

 
EX-99.1 3 v077537_ex99-1.htm
THE MORTGAGE POOL

MORTGAGE LOAN PROGRAMS
 
 
Loan Programs
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
15YR FIXED
 
$
6,637,054.50
   
23
   
0.83
%     
$
288,567.59
   
6.314
%     
 
180
   
723
   
57.43
%
15YR FIXED IO
   
127,000.00
   
1
   
0.02
   
127,000.00
   
11.550
   
176
   
687
   
100.00
 
20YR FIXED
   
74,717.88
   
1
   
0.01
   
74,717.88
   
12.650
   
236
   
729
   
95.00
 
25YR FIXED
   
459,397.60
   
1
   
0.06
   
459,397.60
   
6.625
   
299
   
775
   
59.06
 
30/15 FIXED BAL
   
22,526,032.77
   
309
   
2.83
   
72,899.78
   
12.392
   
178
   
679
   
95.69
 
30/15 FIXED BAL IO
   
548,149.71
   
7
   
0.07
   
78,307.10
   
12.548
   
178
   
707
   
96.20
 
30YR FIXED
   
80,061,872.33
   
241
   
10.06
   
332,206.94
   
6.398
   
359
   
730
   
65.66
 
30YR FIXED IO
   
63,084,868.26
   
194
   
7.93
   
325,179.73
   
6.625
   
359
   
721
   
67.61
 
40/30 FIXED BAL
   
8,242,567.10
   
24
   
1.04
   
343,440.30
   
6.843
   
360
   
683
   
75.04
 
2/6 LIBOR
   
3,133,198.69
   
12
   
0.39
   
261,099.89
   
8.813
   
359
   
646
   
83.27
 
2/6 LIBOR 40/30 BAL
   
2,870,303.97
   
10
   
0.36
   
287,030.40
   
9.155
   
359
   
635
   
87.34
 
2/6 LIBOR IO
   
2,797,050.00
   
9
   
0.35
   
310,783.33
   
7.199
   
360
   
677
   
75.54
 
3/6 LIBOR
   
4,047,593.78
   
14
   
0.51
   
289,113.84
   
7.203
   
360
   
688
   
75.55
 
3/6 LIBOR 40/30 BAL
   
4,775,866.61
   
16
   
0.60
   
298,491.66
   
7.695
   
359
   
674
   
87.90
 
3/6 LIBOR IO
   
27,488,050.00
   
68
   
3.46
   
404,236.03
   
6.219
   
359
   
729
   
69.54
 
5/1 LIBOR IO
   
1,560,780.00
   
3
   
0.20
   
520,260.00
   
7.032
   
356
   
671
   
75.50
 
5/6 LIBOR
   
67,422,088.84
   
253
   
8.47
   
266,490.47
   
7.626
   
359
   
697
   
78.96
 
5/6 LIBOR 40/30 BAL
   
31,125,075.34
   
119
   
3.91
   
261,555.25
   
7.748
   
360
   
681
   
86.86
 
5/6 LIBOR IO
   
441,924,727.94
   
1,229
   
55.55
   
359,580.74
   
6.950
   
360
   
703
   
75.81
 
7/6 LIBOR
   
7,161,865.03
   
22
   
0.90
   
325,539.32
   
7.155
   
360
   
712
   
70.82
 
7/6 LIBOR BAL
   
298,199.45
   
1
   
0.04
   
298,199.45
   
6.750
   
358
   
760
   
80.00
 
7/6 LIBOR IO
   
18,730,503.57
   
50
   
2.35
   
374,610.07
   
6.505
   
360
   
719
   
69.81
 
10/1 CMT IO
   
500,931.27
   
1
   
0.06
   
500,931.27
   
6.625
   
358
   
799
   
50.10
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 

1


Mortgage Loan Principal Balances Outstanding
 
Range of Mortgage
Loan Principal Balances Outstanding ($)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
0.01 - 250,000.00
 
$
177,212,448.94
   
1,221
   
22.27
%     
$
145,137.14
   
7.996
%     
 
335
   
695
   
78.23
%
250,000.01 - 300,000.00
   
73,603,149.17
   
265
   
9.25
   
277,747.73
   
6.994
   
358
   
702
   
73.71
 
300,000.01 - 350,000.00
   
67,113,211.13
   
207
   
8.44
   
324,218.41
   
7.086
   
358
   
695
   
76.51
 
350,000.01 - 400,000.00
   
67,405,591.31
   
179
   
8.47
   
376,567.55
   
7.047
   
356
   
704
   
76.23
 
400,000.01 - 450,000.00
   
77,173,161.84
   
181
   
9.70
   
426,371.06
   
6.875
   
358
   
708
   
75.47
 
450,000.01 - 500,000.00
   
94,871,002.99
   
199
   
11.92
   
476,738.71
   
6.809
   
358
   
710
   
75.73
 
500,000.01 - 550,000.00
   
52,055,665.73
   
99
   
6.54
   
525,814.81
   
6.726
   
360
   
714
   
73.61
 
550,000.01 - 600,000.00
   
43,436,692.01
   
75
   
5.46
   
579,155.89
   
6.748
   
357
   
715
   
71.77
 
600,000.01 - 650,000.00
   
29,050,780.03
   
46
   
3.65
   
631,538.70
   
6.492
   
355
   
726
   
72.08
 
650,000.01 - 700,000.00
   
21,040,068.36
   
31
   
2.64
   
678,711.88
   
6.555
   
354
   
713
   
71.52
 
700,000.01 - 750,000.00
   
25,017,130.12
   
34
   
3.14
   
735,797.94
   
6.698
   
360
   
710
   
72.09
 
750,000.01 - 800,000.00
   
8,599,406.24
   
11
   
1.08
   
781,764.20
   
6.804
   
360
   
729
   
67.41
 
800,000.01 - 850,000.00
   
9,180,417.16
   
11
   
1.15
   
834,583.38
   
6.536
   
359
   
720
   
72.35
 
850,000.01 - 900,000.00
   
15,812,582.00
   
18
   
1.99
   
878,476.78
   
6.485
   
350
   
714
   
71.21
 
900,000.01 - 950,000.00
   
7,474,850.68
   
8
   
0.94
   
934,356.34
   
7.044
   
360
   
713
   
73.37
 
950,000.01 - 1,000,000.00
   
13,758,981.62
   
14
   
1.73
   
982,784.40
   
6.857
   
359
   
726
   
65.74
 
1,000,000.01 - 1,050,000.00
   
1,031,800.00
   
1
   
0.13
   
1,031,800.00
   
6.375
   
360
   
663
   
76.43
 
1,050,000.01 - 1,150,000.00
   
3,369,035.70
   
3
   
0.42
   
1,123,011.90
   
6.875
   
360
   
686
   
76.66
 
1,200,000.01 - 1,300,000.00
   
1,225,000.00
   
1
   
0.15
   
1,225,000.00
   
6.750
   
360
   
661
   
69.01
 
1,300,000.01 - 1,400,000.00
   
1,327,819.61
   
1
   
0.17
   
1,327,819.61
   
7.000
   
358
   
665
   
70.00
 
1,800,000.01 +
   
5,839,100.00
   
3
   
0.73
   
1,946,366.67
   
6.088
   
359
   
732
   
66.81
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 
Original Loan-to-Value Ratios
 
Range of Original Loan-to-Value Ratios (%)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
10.01 - 15.00
 
$
141,685.35
   
2
   
0.02
%     
$
70,842.68
   
6.677
%     
 
262
   
707
   
14.13
%
15.01 - 20.00
   
198,000.00
   
2
   
0.02
   
99,000.00
   
7.003
   
360
   
696
   
16.98
 
20.01 - 25.00
   
1,935,300.74
   
10
   
0.24
   
193,530.07
   
6.254
   
331
   
701
   
22.25
 
25.01 - 30.00
   
4,727,367.88
   
15
   
0.59
   
315,157.86
   
6.074
   
354
   
748
   
28.18
 
30.01 - 35.00
   
5,752,669.92
   
22
   
0.72
   
261,485.00
   
6.061
   
341
   
759
   
33.09
 
35.01 - 40.00
   
7,921,705.38
   
27
   
1.00
   
293,396.50
   
6.121
   
357
   
750
   
38.10
 
40.01 - 45.00
   
9,330,492.80
   
28
   
1.17
   
333,231.89
   
6.067
   
354
   
725
   
42.79
 
45.01 - 50.00
   
16,152,600.74
   
53
   
2.03
   
304,766.05
   
6.236
   
347
   
728
   
47.82
 
50.01 - 55.00
   
26,960,955.55
   
71
   
3.39
   
379,731.77
   
6.195
   
360
   
737
   
52.50
 
55.01 - 60.00
   
38,032,480.51
   
102
   
4.78
   
372,867.46
   
6.142
   
355
   
728
   
58.13
 
60.01 - 65.00
   
32,476,263.72
   
90
   
4.08
   
360,847.37
   
6.268
   
356
   
721
   
63.37
 
65.01 - 70.00
   
98,892,460.54
   
260
   
12.43
   
380,355.62
   
6.419
   
358
   
713
   
68.84
 
70.01 - 75.00
   
111,776,642.23
   
313
   
14.05
   
357,113.87
   
6.740
   
358
   
705
   
74.35
 
75.01 - 80.00
   
299,455,654.60
   
848
   
37.64
   
353,131.67
   
6.990
   
359
   
699
   
79.65
 
80.01 - 85.00
   
15,470,724.95
   
58
   
1.94
   
266,736.64
   
7.958
   
356
   
675
   
84.59
 
85.01 - 90.00
   
50,362,927.91
   
238
   
6.33
   
211,608.94
   
8.781
   
345
   
690
   
89.74
 
90.01 - 95.00
   
53,124,403.00
   
309
   
6.68
   
171,923.63
   
9.277
   
324
   
694
   
94.78
 
95.01 +
   
22,885,558.82
   
160
   
2.88
   
143,034.74
   
9.585
   
289
   
687
   
99.84
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 

2


Mortgage Rates
 
Range of Mortgage Rates (%)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
5.000 - 5.499
 
$
7,020,241.26
   
20
   
0.88
%     
$
351,012.06
   
5.348
%     
 
342
   
747
   
63.07
%
5.500 - 5.999
   
118,274,972.62
   
278
   
14.87
   
425,449.54
   
5.780
   
356
   
741
   
66.17
 
6.000 - 6.499
   
185,613,446.91
   
494
   
23.33
   
375,735.72
   
6.222
   
358
   
722
   
67.29
 
6.500 - 6.999
   
162,040,216.28
   
475
   
20.37
   
341,137.30
   
6.706
   
358
   
700
   
74.36
 
7.000 - 7.499
   
94,439,288.21
   
282
   
11.87
   
334,891.09
   
7.183
   
359
   
693
   
78.50
 
7.500 - 7.999
   
87,221,636.61
   
295
   
10.96
   
295,666.56
   
7.726
   
359
   
683
   
80.50
 
8.000 - 8.499
   
52,291,936.51
   
188
   
6.57
   
278,148.60
   
8.207
   
359
   
688
   
83.11
 
8.500 - 8.999
   
33,675,219.75
   
125
   
4.23
   
269,401.76
   
8.712
   
360
   
682
   
87.97
 
9.000 - 9.499
   
8,487,775.06
   
34
   
1.07
   
249,640.44
   
9.157
   
357
   
677
   
90.74
 
9.500 - 9.999
   
9,707,316.83
   
37
   
1.22
   
262,359.91
   
9.773
   
360
   
680
   
89.63
 
10.000 - 10.499
   
4,380,777.47
   
19
   
0.55
   
230,567.24
   
10.212
   
340
   
687
   
92.13
 
10.500 - 10.999
   
5,722,880.21
   
32
   
0.72
   
178,840.01
   
10.732
   
323
   
684
   
90.99
 
11.000 - 11.499
   
3,407,100.11
   
24
   
0.43
   
141,962.50
   
11.217
   
297
   
677
   
93.30
 
11.500 - 11.999
   
5,877,994.98
   
60
   
0.74
   
97,966.58
   
11.759
   
239
   
672
   
95.21
 
12.000 - 12.499
   
6,484,620.07
   
79
   
0.82
   
82,083.80
   
12.291
   
191
   
683
   
94.54
 
12.500 - 12.999
   
6,439,462.67
   
89
   
0.81
   
72,353.51
   
12.732
   
187
   
666
   
95.64
 
13.000 - 13.499
   
1,811,531.19
   
30
   
0.23
   
60,384.37
   
13.172
   
187
   
677
   
94.65
 
13.500 - 13.999
   
1,521,621.15
   
29
   
0.19
   
52,469.69
   
13.685
   
177
   
676
   
94.80
 
14.000 - 14.499
   
1,042,537.14
   
14
   
0.13
   
74,466.94
   
14.354
   
178
   
653
   
93.88
 
14.500 - 14.999
   
137,319.61
   
4
   
0.02
   
34,329.90
   
14.603
   
179
   
654
   
93.09
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
 
 
Types of Mortgaged Properties
 
Property Type
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
Two Family
 
$
40,666,787.20
   
142
   
5.11
%     
$
286,385.83
   
7.623
%     
 
345
   
700
   
75.40
%
Three Family
   
16,943,763.49
   
54
   
2.13
   
313,773.40
   
7.956
   
338
   
715
   
74.90
 
Four Family
   
9,912,743.74
   
32
   
1.25
   
309,773.24
   
8.475
   
344
   
716
   
79.31
 
Condominium
   
74,022,665.91
   
341
   
9.30
   
217,075.27
   
7.433
   
350
   
705
   
78.37
 
Planned Unit Development (detached)
   
83,351,133.36
   
232
   
10.48
   
359,272.13
   
6.839
   
355
   
720
   
73.97
 
Hi Rise Condo
   
12,276,169.84
   
41
   
1.54
   
299,418.78
   
7.805
   
345
   
713
   
76.19
 
Planned Unit Development (attached)
   
53,772,815.54
   
189
   
6.76
   
284,512.25
   
7.463
   
356
   
695
   
80.60
 
Single Family Residence
   
502,127,577.82
   
1,563
   
63.11
   
321,258.85
   
6.933
   
354
   
705
   
73.88
 
Townhouse
   
2,524,237.74
   
14
   
0.32
   
180,302.70
   
7.766
   
330
   
706
   
77.19
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

3

 
Occupancy Types(1)
 
Occupancy Type
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
Investor
 
$
165,451,332.90
   
783
   
20.80
%     
$
211,304.38
   
7.756
%     
 
347
   
708
   
75.01
%
Owner Occupied
   
604,659,686.63
   
1,734
   
76.00
   
348,708.01
   
6.908
   
354
   
705
   
74.92
 
Second Home
   
25,486,875.11
   
91
   
3.20
   
280,075.55
   
7.333
   
356
   
715
   
76.11
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
_______________
(1)
Based on representations by the Mortgagors at the time of origination of the Mortgage Loans.
 
 
Loan Purposes
 
Loan Purpose
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
Refinance - Cashout
 
$
307,074,132.73
   
1,011
   
38.60
%     
$
303,733.07
   
6.962
%     
 
354
   
700
   
70.91
%
Purchase
   
289,005,282.74
   
1,073
   
36.33
   
269,343.23
   
7.669
   
349
   
705
   
82.11
 
Refinance - No Cashout
   
199,518,479.17
   
524
   
25.08
   
380,760.46
   
6.479
   
355
   
715
   
70.89
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 
Loan Documentation Types
 
Loan
Documentation Type
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
Alternative
 
$
2,290,663.01
   
6
   
0.29
%     
$
381,777.17
   
7.192
%     
 
359
   
746
   
79.26
%
Express No Doc
   
36,501,159.47
   
144
   
4.59
   
253,480.27
   
7.570
   
359
   
705
   
76.84
 
Express No Doc Verified Assets
   
4,142,075.80
   
12
   
0.52
   
345,172.98
   
7.559
   
359
   
709
   
72.37
 
Express Non-Verified Assets
   
27,210,828.86
   
83
   
3.42
   
327,841.31
   
7.635
   
357
   
690
   
74.81
 
Express Verified Assets
   
107,239,207.30
   
338
   
13.48
   
317,275.76
   
7.378
   
357
   
693
   
80.36
 
FISA
   
1,019,994.86
   
6
   
0.13
   
169,999.14
   
6.693
   
360
   
689
   
58.19
 
Full
   
145,933,037.50
   
426
   
18.34
   
342,565.82
   
6.308
   
354
   
734
   
70.19
 
NINA
   
315,400.00
   
1
   
0.04
   
315,400.00
   
10.125
   
359
   
638
   
95.00
 
SISA
   
55,818,834.48
   
187
   
7.02
   
298,496.44
   
7.314
   
359
   
696
   
75.34
 
Stated
   
415,126,693.36
   
1,405
   
52.18
   
295,463.84
   
7.191
   
349
   
702
   
75.09
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
 

4


 
Remaining Terms to Stated Maturity
 
Range of Remaining Terms (months)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
121 - 180
 
$
29,838,236.98
   
340
   
3.75
%     
$
87,759.52
   
11.039
%     
 
178
   
689
   
87.21
%
181 - 240
   
74,717.88
   
1
   
0.01
   
74,717.88
   
12.650
   
236
   
729
   
95.00
 
241 - 360
   
765,684,939.78
   
2,267
   
96.24
   
337,752.51
   
6.944
   
359
   
706
   
74.49
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 
Credit Bureau Risk Scores(1)
 
Range of Credit Bureau
Risk Scores
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
N/A
 
$
1,272,160.96
   
7
   
0.16
%     
$
181,737.28
   
7.569
%     
 
359
   
N/A
   
71.07
%
581 - 600
   
666,663.69
   
3
   
0.08
   
222,221.23
   
8.181
   
355
   
593
   
80.35
 
601 - 620
   
11,666,453.37
   
45
   
1.47
   
259,254.52
   
8.173
   
358
   
614
   
75.76
 
621 - 640
   
57,289,186.38
   
218
   
7.20
   
262,794.43
   
7.649
   
354
   
631
   
77.43
 
641 - 660
   
84,049,440.25
   
342
   
10.56
   
245,758.60
   
7.761
   
349
   
650
   
77.74
 
661 - 680
   
103,310,898.28
   
364
   
12.99
   
283,821.15
   
7.626
   
348
   
669
   
79.33
 
681 - 700
   
135,256,531.93
   
435
   
17.00
   
310,934.56
   
7.179
   
350
   
690
   
77.92
 
701 - 720
   
114,321,041.16
   
352
   
14.37
   
324,775.69
   
6.923
   
354
   
709
   
75.45
 
721 - 740
   
83,276,412.28
   
262
   
10.47
   
317,848.90
   
6.929
   
353
   
730
   
75.18
 
741 - 760
   
66,361,829.20
   
215
   
8.34
   
308,659.67
   
6.683
   
356
   
751
   
71.18
 
761 - 780
   
73,937,023.16
   
190
   
9.29
   
389,142.23
   
6.403
   
357
   
772
   
68.05
 
781 - 800
   
46,222,471.60
   
128
   
5.81
   
361,113.06
   
6.258
   
358
   
790
   
66.41
 
801 +
   
17,967,782.38
   
47
   
2.26
   
382,293.24
   
6.267
   
354
   
805
   
67.08
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
______________________
(1)
The Credit Bureau Risk Scores referenced in this table with respect to substantially all of the Mortgage Loans were obtained by the respective originators from one or more credit reporting agencies, and were determined at the time of origination.

 
5


 
Gross Margins
 
Range of Gross Margins (%)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
2.250 - 2.499
 
$
7,358,668.29
   
22
   
0.92
%     
$
334,484.92
   
7.280
%     
 
359
   
702
   
74.81
%
2.500 - 2.749
   
24,208,549.24
   
68
   
3.04
   
356,008.08
   
6.798
   
359
   
694
   
75.67
 
2.750 - 2.999
   
66,577,065.80
   
209
   
8.37
   
318,550.55
   
7.093
   
359
   
692
   
79.04
 
3.000 - 3.249
   
315,249,469.48
   
852
   
39.62
   
370,011.11
   
6.599
   
360
   
711
   
71.79
 
3.250 - 3.499
   
4,977,051.14
   
13
   
0.63
   
382,850.09
   
7.301
   
359
   
703
   
80.97
 
3.500 - 3.749
   
35,528,915.44
   
113
   
4.47
   
314,415.18
   
7.483
   
360
   
719
   
82.32
 
3.750 - 3.999
   
53,278,062.38
   
164
   
6.70
   
324,866.23
   
7.234
   
360
   
701
   
82.47
 
4.000 - 4.249
   
28,181,632.05
   
99
   
3.54
   
284,662.95
   
8.691
   
360
   
675
   
91.42
 
4.250 - 4.499
   
3,507,340.00
   
14
   
0.44
   
250,524.29
   
9.223
   
360
   
644
   
91.07
 
4.500 - 4.749
   
3,341,535.27
   
11
   
0.42
   
303,775.93
   
8.145
   
360
   
681
   
83.60
 
4.750 - 4.999
   
538,750.00
   
2
   
0.07
   
269,375.00
   
9.227
   
360
   
636
   
92.13
 
5.000 - 5.249
   
58,572,972.54
   
199
   
7.36
   
294,336.55
   
7.742
   
359
   
689
   
78.73
 
5.250 - 5.499
   
704,000.00
   
2
   
0.09
   
352,000.00
   
6.566
   
360
   
708
   
80.00
 
5.500 - 5.749
   
4,186,070.65
   
15
   
0.53
   
279,071.38
   
8.956
   
358
   
626
   
86.02
 
5.750 - 5.999
   
687,393.00
   
2
   
0.09
   
343,696.50
   
5.811
   
359
   
783
   
66.43
 
6.000 - 6.249
   
501,500.00
   
2
   
0.06
   
250,750.00
   
7.996
   
360
   
647
   
65.90
 
6.250 - 6.499
   
224,696.23
   
1
   
0.03
   
224,696.23
   
9.800
   
359
   
673
   
84.99
 
6.500 - 6.749
   
4,687,793.62
   
14
   
0.59
   
334,842.40
   
8.335
   
359
   
650
   
83.29
 
6.750 - 6.999
   
454,500.00
   
1
   
0.06
   
454,500.00
   
7.950
   
360
   
691
   
90.00
 
7.000 - 7.249
   
383,836.36
   
2
   
0.05
   
191,918.18
   
9.438
   
358
   
640
   
80.00
 
7.500 - 7.749
   
235,892.21
   
1
   
0.03
   
235,892.21
   
9.850
   
359
   
613
   
80.00
 
9.000 - 9.249
   
450,540.79
   
1
   
0.06
   
450,540.79
   
11.200
   
359
   
620
   
94.99
 
FIXED
   
181,761,660.15
   
801
   
22.85
   
226,918.43
   
7.262
   
329
   
718
   
70.29
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%


6


 
Geographic Distribution
 
Geographic Distribution
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
Alabama
 
$
1,057,211.47
   
7
   
0.13
%     
$
151,030.21
   
8.025
%     
 
325
   
769
   
87.64
%
Arizona
   
23,271,537.37
   
94
   
2.93
   
247,569.55
   
7.600
   
353
   
700
   
76.55
 
Arkansas
   
2,667,273.17
   
8
   
0.34
   
333,409.15
   
9.764
   
360
   
720
   
88.24
 
California
   
439,819,432.78
   
1,181
   
55.28
   
372,412.73
   
6.679
   
354
   
712
   
71.83
 
Colorado
   
16,344,184.20
   
62
   
2.05
   
263,615.87
   
6.945
   
353
   
729
   
73.23
 
Connecticut
   
9,796,876.65
   
24
   
1.23
   
408,203.19
   
7.159
   
360
   
715
   
77.18
 
Delaware
   
299,974.75
   
2
   
0.04
   
149,987.38
   
7.544
   
331
   
741
   
82.40
 
District of Columbia
   
585,480.00
   
2
   
0.07
   
292,740.00
   
8.245
   
360
   
676
   
81.74
 
Florida
   
117,558,732.53
   
494
   
14.78
   
237,973.14
   
7.807
   
352
   
689
   
80.09
 
Georgia
   
4,956,087.08
   
26
   
0.62
   
190,618.73
   
8.096
   
358
   
678
   
89.08
 
Hawaii
   
19,326,848.68
   
47
   
2.43
   
411,209.55
   
6.789
   
355
   
693
   
73.43
 
Idaho
   
1,326,007.13
   
6
   
0.17
   
221,001.19
   
7.041
   
350
   
739
   
80.90
 
Illinois
   
19,113,073.69
   
86
   
2.40
   
222,245.04
   
8.300
   
348
   
695
   
82.81
 
Indiana
   
1,940,657.28
   
10
   
0.24
   
194,065.73
   
9.140
   
359
   
677
   
88.67
 
Kentucky
   
149,000.00
   
1
   
0.02
   
149,000.00
   
7.500
   
360
   
694
   
100.00
 
Louisiana
   
160,000.00
   
1
   
0.02
   
160,000.00
   
7.370
   
360
   
790
   
80.00
 
Maine
   
257,325.00
   
3
   
0.03
   
85,775.00
   
7.535
   
360
   
714
   
77.54
 
Maryland
   
16,323,307.71
   
58
   
2.05
   
281,436.34
   
7.520
   
350
   
695
   
81.44
 
Massachusetts
   
4,768,848.94
   
16
   
0.60
   
298,053.06
   
7.803
   
359
   
691
   
75.90
 
Michigan
   
2,954,131.26
   
18
   
0.37
   
164,118.40
   
7.628
   
356
   
682
   
77.17
 
Minnesota
   
3,876,221.98
   
24
   
0.49
   
161,509.25
   
8.101
   
339
   
717
   
84.01
 
Mississippi
   
278,150.00
   
2
   
0.03
   
139,075.00
   
6.625
   
360
   
726
   
74.99
 
Missouri
   
1,046,776.48
   
6
   
0.13
   
174,462.75
   
7.489
   
345
   
746
   
79.04
 
Montana
   
480,612.51
   
2
   
0.06
   
240,306.26
   
7.131
   
359
   
704
   
80.00
 
Nevada
   
13,738,877.87
   
61
   
1.73
   
225,227.51
   
7.430
   
351
   
688
   
78.21
 
New Hampshire
   
656,098.02
   
3
   
0.08
   
218,699.34
   
7.488
   
357
   
694
   
78.37
 
New Jersey
   
12,483,973.91
   
43
   
1.57
   
290,324.97
   
7.564
   
351
   
696
   
76.91
 
New Mexico
   
277,450.00
   
2
   
0.03
   
138,725.00
   
8.246
   
360
   
728
   
77.91
 
New York
   
20,589,648.72
   
58
   
2.59
   
354,993.94
   
8.015
   
335
   
700
   
78.55
 
North Carolina
   
2,227,081.94
   
15
   
0.28
   
148,472.13
   
7.436
   
359
   
700
   
83.04
 
Ohio
   
89,980.71
   
2
   
0.01
   
44,990.36
   
9.713
   
307
   
697
   
99.56
 
Oklahoma
   
29,683.70
   
1
   
0.00
   
29,683.70
   
12.425
   
178
   
707
   
95.00
 
Oregon
   
3,177,555.63
   
16
   
0.40
   
198,597.23
   
7.192
   
357
   
707
   
76.11
 
Pennsylvania
   
3,226,712.57
   
18
   
0.41
   
179,261.81
   
7.418
   
357
   
694
   
78.51
 
Rhode Island
   
722,725.31
   
7
   
0.09
   
103,246.47
   
9.730
   
275
   
694
   
92.41
 
South Carolina
   
2,090,880.47
   
15
   
0.26
   
139,392.03
   
7.645
   
348
   
673
   
72.56
 
South Dakota
   
19,994.88
   
1
   
0.00
   
19,994.88
   
12.500
   
179
   
721
   
94.97
 
Tennessee
   
752,624.80
   
4
   
0.09
   
188,156.20
   
7.030
   
360
   
735
   
78.93
 
Texas
   
6,448,974.13
   
29
   
0.81
   
222,378.42
   
6.952
   
350
   
745
   
72.88
 
Utah
   
6,616,521.60
   
30
   
0.83
   
220,550.72
   
7.411
   
357
   
702
   
79.91
 
Vermont
   
280,787.58
   
1
   
0.04
   
280,787.58
   
7.000
   
359
   
641
   
75.00
 
Virginia
   
12,918,711.31
   
54
   
1.62
   
239,235.39
   
7.846
   
342
   
698
   
79.70
 
Washington
   
20,147,986.32
   
65
   
2.53
   
309,969.02
   
6.772
   
351
   
712
   
76.37
 
Wisconsin
   
643,400.00
   
2
   
0.08
   
321,700.00
   
7.375
   
359
   
737
   
86.42
 
Wyoming
   
100,474.51
   
1
   
0.01
   
100,474.51
   
8.375
   
359
   
752
   
72.90
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
 
7


 
Next Rate Adjustment Dates
 
Next Rate Adjustment Date
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
January 2009
 
$
419,140.29
   
1
   
0.05
%     
$
419,140.29
   
7.950
%     
 
357
   
658
   
76.36
%
February 2009
   
247,893.33
   
1
   
0.03
   
247,893.33
   
8.990
   
358
   
652
   
80.00
 
March 2009
   
5,273,369.04
   
21
   
0.66
   
251,112.81
   
8.733
   
359
   
637
   
83.13
 
April 2009
   
2,860,150.00
   
8
   
0.36
   
357,518.75
   
7.835
   
360
   
680
   
81.34
 
July 2009
   
322,301.29
   
1
   
0.04
   
322,301.29
   
8.700
   
351
   
598
   
95.00
 
January 2010
   
204,750.00
   
1
   
0.03
   
204,750.00
   
6.625
   
357
   
753
   
61.49
 
February 2010
   
1,784,269.95
   
5
   
0.22
   
356,853.99
   
7.033
   
358
   
715
   
66.34
 
March 2010
   
17,787,429.12
   
42
   
2.24
   
423,510.22
   
6.550
   
359
   
713
   
74.45
 
April 2010
   
13,907,957.78
   
44
   
1.75
   
316,089.95
   
6.343
   
360
   
719
   
69.95
 
May 2010
   
2,599,697.25
   
6
   
0.33
   
433,282.88
   
6.649
   
360
   
749
   
80.04
 
September 2011
   
663,200.00
   
1
   
0.08
   
663,200.00
   
7.250
   
353
   
695
   
80.00
 
December 2011
   
3,868,374.82
   
13
   
0.49
   
297,567.29
   
7.476
   
356
   
678
   
79.35
 
January 2012
   
8,910,940.61
   
27
   
1.12
   
330,034.84
   
7.336
   
357
   
681
   
78.90
 
February 2012
   
18,523,280.14
   
51
   
2.33
   
363,201.57
   
7.095
   
358
   
687
   
75.84
 
March 2012
   
159,596,035.28
   
489
   
20.06
   
326,372.26
   
7.012
   
359
   
702
   
76.78
 
April 2012
   
255,672,137.47
   
742
   
32.14
   
344,571.61
   
6.944
   
360
   
702
   
76.03
 
May 2012
   
87,765,391.80
   
258
   
11.03
   
340,175.94
   
7.422
   
360
   
703
   
78.17
 
June 2012
   
6,738,417.00
   
22
   
0.85
   
306,291.68
   
8.818
   
360
   
689
   
88.64
 
January 2014
   
400,283.26
   
1
   
0.05
   
400,283.26
   
7.000
   
357
   
702
   
80.00
 
February 2014
   
787,329.76
   
3
   
0.10
   
262,443.25
   
6.484
   
358
   
741
   
78.42
 
March 2014
   
6,819,406.19
   
18
   
0.86
   
378,855.90
   
6.500
   
359
   
706
   
71.74
 
April 2014
   
15,489,229.84
   
42
   
1.95
   
368,791.19
   
6.475
   
360
   
724
   
67.05
 
May 2014
   
2,526,019.00
   
8
   
0.32
   
315,752.38
   
8.363
   
360
   
708
   
79.95
 
June 2014
   
168,300.00
   
1
   
0.02
   
168,300.00
   
8.570
   
360
   
653
   
90.00
 
February 2017
   
500,931.27
   
1
   
0.06
   
500,931.27
   
6.625
   
358
   
799
   
50.10
 
FIXED
   
181,761,660.15
   
801
   
22.85
   
226,918.43
   
7.262
   
329
   
718
   
70.29
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

8

Maximum Mortgage Rates
 
Range of Maximum Mortgage Rates (%)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
10.500 - 10.999
 
$
604,218.95
   
2
   
0.08
%     
$
302,109.48
   
5.933
%     
 
360
   
733
   
62.85
%
11.000 - 11.499
   
4,095,722.70
   
12
   
0.51
   
341,310.23
   
5.640
   
359
   
723
   
66.86
 
11.500 - 11.999
   
99,233,275.84
   
243
   
12.47
   
408,367.39
   
5.862
   
360
   
734
   
68.28
 
12.000 - 12.499
   
149,488,117.81
   
382
   
18.79
   
391,330.15
   
6.373
   
359
   
711
   
71.57
 
12.500 - 12.999
   
137,956,396.53
   
405
   
17.34
   
340,633.08
   
6.912
   
360
   
693
   
76.32
 
13.000 - 13.499
   
81,037,402.98
   
263
   
10.19
   
308,127.01
   
7.443
   
359
   
692
   
79.27
 
13.500 - 13.999
   
51,738,829.69
   
176
   
6.50
   
293,970.62
   
7.741
   
360
   
684
   
81.80
 
14.000 - 14.499
   
27,527,376.62
   
94
   
3.46
   
292,844.43
   
8.220
   
360
   
695
   
85.85
 
14.500 - 14.999
   
32,211,344.49
   
114
   
4.05
   
282,555.65
   
8.725
   
360
   
682
   
88.12
 
15.000 - 15.499
   
8,304,161.52
   
32
   
1.04
   
259,505.05
   
9.191
   
360
   
674
   
90.46
 
15.500 - 15.999
   
9,211,150.77
   
35
   
1.16
   
263,175.74
   
9.767
   
360
   
680
   
89.49
 
16.000 - 16.499
   
3,385,344.93
   
13
   
0.43
   
260,411.15
   
10.213
   
360
   
689
   
90.89
 
16.500 - 16.999
   
4,501,200.30
   
17
   
0.57
   
264,776.49
   
10.731
   
360
   
680
   
89.11
 
17.000 - 17.499
   
1,771,869.62
   
8
   
0.22
   
221,483.70
   
11.189
   
360
   
682
   
90.71
 
17.500 - 17.999
   
1,873,960.95
   
8
   
0.24
   
234,245.12
   
11.736
   
360
   
644
   
90.89
 
18.000 - 18.499
   
895,860.79
   
3
   
0.11
   
298,620.26
   
11.835
   
359
   
626
   
92.51
 
FIXED
   
181,761,660.15
   
801
   
22.85
   
226,918.43
   
7.262
   
329
   
718
   
70.29
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 
 
Initial Periodic Rate Caps
 
Initial Periodic
Rate Cap (%)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
1.000
 
$
440,000.00
   
1
   
0.06
%     
$
440,000.00
   
7.000
%     
 
358
   
658
   
80.00
%
1.500
   
450,540.79
   
1
   
0.06
   
450,540.79
   
11.200
   
359
   
620
   
94.99
 
2.000
   
500,000.00
   
1
   
0.06
   
500,000.00
   
5.875
   
357
   
660
   
71.43
 
3.000
   
500,211,474.27
   
1,431
   
62.87
   
349,553.79
   
6.917
   
360
   
706
   
74.97
 
5.000
   
51,298,923.82
   
144
   
6.45
   
356,242.53
   
7.503
   
359
   
686
   
77.71
 
6.000
   
60,935,295.61
   
229
   
7.66
   
266,092.99
   
7.734
   
359
   
689
   
86.51
 
FIXED
   
181,761,660.15
   
801
   
22.85
   
226,918.43
   
7.262
   
329
   
718
   
70.29
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
 

 

9


 
Subsequent Periodic Rate Caps

Subsequent
Periodic Rate Cap (%)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
1.000
 
$
549,905,658.42
   
1,571
   
69.12
%     
$
350,035.43
   
6.970
%     
 
360
   
704
   
75.25
%
1.500
   
450,540.79
   
1
   
0.06
   
450,540.79
   
11.200
   
359
   
620
   
94.99
 
2.000
   
63,180,306.48
   
234
   
7.94
   
270,001.31
   
7.710
   
359
   
689
   
85.95
 
3.000
   
299,728.80
   
1
   
0.04
   
299,728.80
   
6.500
   
360
   
672
   
60.61
 
FIXED
   
181,761,660.15
   
801
   
22.85
   
226,918.43
   
7.262
   
329
   
718
   
70.29
 
Total/Avg./Wtd.Avg…
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
 
 
Original Prepayment Penalty Terms
 
Original Prepayment Penalty Term (months)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
NO
 
$
238,533,833.23
   
837
   
29.98
%     
$
284,986.66
   
7.413
%     
 
349
   
712
   
75.00
%
6
   
3,842,978.45
   
14
   
0.48
   
274,498.46
   
7.662
   
337
   
702
   
71.81
 
12
   
109,656,595.49
   
326
   
13.78
   
336,369.92
   
7.027
   
354
   
704
   
75.12
 
24
   
71,582,144.36
   
261
   
9.00
   
274,261.09
   
7.404
   
348
   
696
   
75.61
 
36
   
368,880,643.11
   
1,161
   
46.37
   
317,726.65
   
6.848
   
356
   
705
   
74.80
 
60
   
3,101,700.00
   
9
   
0.39
   
344,633.33
   
7.227
   
360
   
678
   
77.23
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 
 
Months to Roll
 
Range of
Months to Roll
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to- Value Ratio
 
19.00 - 24.99
 
$
8,800,552.66
   
31
   
1.11
%     
$
283,888.80
   
8.411
%     
 
359
   
652
   
82.14
%
25.00 - 31.99
   
322,301.29
   
1
   
0.04
   
322,301.29
   
8.700
   
351
   
598
   
95.00
 
32.00 - 49.99
   
36,284,104.10
   
98
   
4.56
   
370,245.96
   
6.502
   
359
   
718
   
72.65
 
50.00 - 55.99
   
663,200.00
   
1
   
0.08
   
663,200.00
   
7.250
   
353
   
695
   
80.00
 
56.00 - 79.99
   
541,074,577.12
   
1,602
   
68.01
   
337,749.42
   
7.081
   
360
   
701
   
76.82
 
80.00 +
   
26,691,499.32
   
74
   
3.35
   
360,695.94
   
6.684
   
360
   
719
   
69.82
 
FIXED
   
181,761,660.15
   
801
   
22.85
   
226,918.43
   
7.262
   
329
   
718
   
70.29
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 

10


Credit Grade Categories(1)
 
Credit Grade Category
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
A+
 
$
435,340,432.53
   
1,298
   
54.72
%     
$
335,393.25
   
6.689
%     
 
353
   
733
   
72.30
%
A
   
211,040,151.09
   
829
   
26.53
   
254,571.96
   
7.732
   
348
   
658
   
78.55
 
A-
   
7,929,639.16
   
30
   
1.00
   
264,321.31
   
8.198
   
357
   
612
   
76.81
 
Progressive Express I
   
98,682,872.61
   
315
   
12.40
   
313,278.96
   
7.262
   
358
   
717
   
77.51
 
Progressive Express II
   
41,171,092.85
   
129
   
5.17
   
319,155.76
   
7.551
   
359
   
651
   
78.81
 
Progressive Express III
   
1,433,706.40
   
7
   
0.18
   
204,815.20
   
7.552
   
360
   
612
   
65.69
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%
________________
(1)
Although the Mortgage Loans were originated by various originators under differing underwriting guidelines, the Mortgage Loans loosely correspond to the Countrywide Home Loans credit grades shown in this table. See “—Underwriting Standards” in the prospectus supplement.
 
Initial Fixed-Rate Periods
 
Initial Fixed Period (Months)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
24
 
$
8,800,552.66
   
31
   
1.11
%     
$
283,888.80
   
8.411
%     
 
359
   
652
   
82.14
%
36
   
36,311,510.39
   
98
   
4.56
   
370,525.62
   
6.523
   
359
   
717
   
72.63
 
60
   
542,032,672.12
   
1,604
   
68.13
   
337,925.61
   
7.080
   
360
   
701
   
76.84
 
84
   
26,190,568.05
   
73
   
3.29
   
358,774.90
   
6.685
   
360
   
717
   
70.20
 
120
   
500,931.27
   
1
   
0.06
   
500,931.27
   
6.625
   
358
   
799
   
50.10
 
FIXED
   
181,761,660.15
   
801
   
22.85
   
226,918.43
   
7.262
   
329
   
718
   
70.29
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

 

11


Debt-to-Income Ratios
 
Range of Debt-to-Income (%)
 
Aggregate Principal Balance Outstanding
 
Number of Loans
 
Percent of Aggregate Principal Balance Outstanding
 
Average Principal Balance
Outstanding
 
Weighted Average Mortgage Rate
 
Weighted Average Remaining Term to Maturity (months)
 
Weighted Average Credit Score
 
Weighted Average Original Loan-to-Value Ratio
 
N/A
 
$
152,147,454.96
   
516
   
19.12
%     
$
294,859.41
   
7.571
%     
 
357
   
695
   
79.43
%
0.01 - 5.00
   
24,400,871.02
   
66
   
3.07
   
369,710.17
   
6.764
   
359
   
700
   
71.95
 
5.01 - 10.00
   
1,675,800.00
   
7
   
0.21
   
239,400.00
   
6.790
   
360
   
683
   
48.55
 
10.01 - 15.00
   
4,160,255.00
   
15
   
0.52
   
277,350.33
   
6.529
   
360
   
732
   
68.06
 
15.01 - 20.00
   
13,364,007.22
   
50
   
1.68
   
267,280.14
   
6.661
   
357
   
715
   
64.90
 
20.01 - 25.00
   
21,177,090.25
   
66
   
2.66
   
320,865.00
   
6.594
   
357
   
730
   
65.46
 
25.01 - 30.00
   
48,190,702.65
   
155
   
6.06
   
310,907.76
   
6.662
   
356
   
724
   
69.88
 
30.01 - 35.00
   
80,583,960.06
   
266
   
10.13
   
302,947.22
   
6.996
   
352
   
714
   
71.79
 
35.01 - 40.00
   
120,532,227.05
   
389
   
15.15
   
309,851.48
   
6.880
   
351
   
713
   
73.64
 
40.01 - 45.00
   
209,013,234.31
   
656
   
26.27
   
318,617.74
   
7.008
   
351
   
705
   
76.10
 
45.01 - 50.00
   
107,360,530.32
   
377
   
13.49
   
284,775.94
   
7.446
   
346
   
693
   
78.42
 
50.01 - 55.00
   
12,800,211.80
   
44
   
1.61
   
290,913.90
   
6.478
   
355
   
721
   
64.25
 
55.00+
   
191,550.00
   
1
   
0.02
   
191,550.00
   
8.250
   
359
   
695
   
75.00
 
Total/Avg./Wtd.Avg
 
$
795,597,894.64
   
2,608
   
100.00
%
$
305,060.54
   
7.098
%
 
353
   
706
   
74.97
%

12

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