You
should consider carefully the risk factors beginning on page S-14
in this
prospectus supplement.
|
·
|
the
accompanying prospectus, which provides general information, some
of which
may not apply to this series of certificates;
and
|
·
|
this
prospectus supplement, which describes the specific terms of this
series
of certificates.
|
SUMMARY
OF PROSPECTUS SUPPLEMENT
|
TRANSACTION
STRUCTURE
|
RISK
FACTORS
|
THE
MORTGAGE POOL
|
General
|
Mortgage
Rates
|
Index
on the Mortgage Loans
|
Mortgage
Loan Characteristics
|
Prepayment
Charges
|
THE
DEPOSITOR
|
ISSUING
ENTITY
|
THE
SPONSOR
|
THE
MASTER SERVICER AND THE SECURITIES ADMINISTRATOR
|
THE
SERVICER
|
Table
of Fees and Expenses
|
MORTGAGE
LOAN ORIGINATION
|
FICO
Scores
|
Representations
and Warranties
|
ADDITIONAL
INFORMATION
|
STATIC
POOL INFORMATION
|
DESCRIPTION
OF THE CERTIFICATES
|
General
|
Book-Entry
Certificates
|
Allocation
of Available Funds
|
Calculation
of LIBOR for the LIBOR Certificates
|
Allocation
of Losses; Subordination
|
Restrictions
on Transfer of the Class R Certificates
|
P&I
Advances
|
YIELD
ON THE CERTIFICATES
|
General
|
Prepayment
Considerations
|
Allocation
of Principal Prepayments
|
Interest
Shortfalls and Realized Losses
|
Yield
Sensitivity of the Class M Certificates
|
Additional
Yield Considerations Applicable Solely To The Class R
Certificates
|
Pass-Through
Rates
|
Purchase
Price
|
Final
Scheduled Distribution Date
|
Weighted
Average Life
|
Class
X-P Certificate Yield Considerations
|
POOLING
AND SERVICING AGREEMENT
|
General
|
The
Trustee, the Securities Administrator and the Master
Servicer
|
Reports
to Certificateholders
|
Servicing
and Other Compensation and Payment of Expenses
|
Voting
Rights
|
Optional
Termination
|
Optional
Purchase of Defaulted Loans
|
Pledge
and Assignment of Servicer’s Rights
|
Assignment
of the Mortgage Loans
|
Modifications
|
Evidence
as to Compliance
|
FEDERAL
INCOME TAX CONSEQUENCES
|
General
|
Special
Tax Considerations Applicable to the Class A Certificates and Class
M
Certificates
|
Taxation
of the Cap Agreement Portion of the Class X-P
Certificates
|
Special
Tax Considerations Applicable to Class R Certificates
|
METHOD
OF DISTRIBUTION
|
SECONDARY
MARKET
|
LEGAL
OPINIONS
|
LEGAL
PROCEEDINGS
|
AFFILIATIONS,
RELATIONSHIPS AND RELATED TRANSACTIONS
|
RATINGS
|
AVAILABLE
INFORMATION
|
REPORTS
TO CERTIFICATEHOLDERS
|
INCORPORATION
OF INFORMATION BY REFERENCE
|
LEGAL
INVESTMENT
|
ERISA
CONSIDERATIONS
|
GLOSSARY
|
ANNEX
I
|
SCHEDULE
A
|
Issuing
Entity
|
American
Home Mortgage Assets Trust 2007-5.
|
Title
of Series
|
Mortgage-Backed
Pass-Through Certificates, Series 2007-5.
|
Cut-off
Date
|
June
1, 2007.
|
Closing
Date
|
On
or about June 29, 2007.
|
Depositor
|
American
Home Mortgage Assets LLC.
|
Sponsor
|
American
Home Mortgage Corp.
|
Originator
|
American
Home Mortgage Corp., or an affiliate thereof.
|
Master
Servicer
|
Wells
Fargo Bank, N.A.
|
Securities
Administrator
|
Wells
Fargo Bank, N.A. The securities administrator also will act as the
paying
agent and certificate registrar.
|
Servicer
|
American
Home Mortgage Servicing, Inc.
|
Trustee
|
Deutsche
Bank National Trust Company.
|
Custodian
|
Deutsche
Bank National Trust Company.
|
Distribution
Dates
|
Distributions
on the offered certificates will be made on the 25th day of each
month,
or, if such day is not a business day, on the next succeeding business
day, beginning in July 2007.
|
Certificates
|
The
classes of certificates and their pass-through rates and initial
certificate principal balances are set forth in the table
below.
|
Minimum
Denominations
|
The
Class A Certificates will be issued in minimum denominations of $100,000
principal balance and integral multiples of $1 in excess
thereof. The Class X-P certificates will be issued in minimum
denominations of $2,000,000 notional amount and integral multiples
of $1
in excess thereof. The Class M certificates will be issued in
minimum denominations of $250,000 principal balance and integral
multiples
of $1 in excess thereof. The Class R certificates will be
issued in minimum percentage interests of
20%.
|
Class
|
Pass-Through
Rate
|
Initial
Certificate
Principal
Balance
|
Initial
Rating
(S&P/Moody’s)
|
Designation
|
|||
A-1
|
Adjustable
Rate
|
$ |
417,034,000
|
AAA/Aaa
|
Super
Senior/Adjustable Rate
|
||
A-2
|
Adjustable
Rate
|
$ |
173,763,000
|
AAA/Aaa
|
Super
Senior/Senior Support/Adjustable Rate
|
||
A-3
|
Adjustable
Rate
|
$ |
104,258,000
|
AAA/Aaa
|
Senior
Support/Adjustable Rate
|
||
X-P
|
Adjustable
Rate
|
$ |
0
|
AAA/Aaa
|
Senior/IO/PO/Prepayment
Penalty
|
||
R
|
Variable
Rate
|
$ |
100
|
AAA/Aaa
|
Senior/Residual
|
||
M-1
|
Adjustable
Rate
|
$ |
19,415,000
|
AA+/Aa1
|
Subordinate/Adjustable
Rate
|
||
M-2
|
Adjustable
Rate
|
$ |
13,590,000
|
AA/Aa1
|
Subordinate/Adjustable
Rate
|
||
M-3
|
Adjustable
Rate
|
$ |
5,825,000
|
AA-/Aa2
|
Subordinate/Adjustable
Rate
|
||
M-4
|
Adjustable
Rate
|
$ |
5,824,000
|
A+/Aa3
|
Subordinate/Adjustable
Rate
|
||
M-5
|
Adjustable
Rate
|
$ |
3,883,000
|
A/A1
|
Subordinate/Adjustable
Rate
|
||
M-6
|
Adjustable
Rate
|
$ |
1,942,000
|
A-/A1
|
Subordinate/Adjustable
Rate
|
||
M-7
|
Adjustable
Rate
|
$ |
5,824,000
|
BBB+/A3
|
Subordinate/Adjustable
Rate
|
||
M-8
|
Adjustable
Rate
|
$ |
1,942,000
|
BBB/Baa1
|
Subordinate/Adjustable
Rate
|
||
M-9
|
Adjustable
Rate
|
$ |
3,883,000
|
BBB-/Baa2
|
Subordinate/Adjustable
Rate
|
||
Total
Offered Certificates:
|
$ |
757,183,100
|
|||||
Non-Offered
Certificates
|
|||||||
Class
|
Pass-Through
Rate
|
Initial
Certificate
Principal
Balance
|
Designation
|
||||
B-1
|
Adjustable
Rate
|
$ |
6,213,000
|
Subordinate/Adjustable
Rate
|
|||
B-2
|
Adjustable
Rate
|
$ |
7,377,000
|
Subordinate/Adjustable
Rate
|
|||
B-3
|
Adjustable
Rate
|
$ |
5,824,803
|
Subordinate/Adjustable
Rate
|
|||
Total
Non-Offered Certificates:
|
$ |
19,414,803
|
|||||
Total
Certificates:
|
$ |
776,597,903
|
|||||
·
|
one-month
LIBOR for that distribution date plus the related margin set forth
below,
and
|
·
|
the
net WAC rate, adjusted to an actual / 360 day
basis.
|
Margin
|
||
Class
|
(1)
|
(2)
|
A-1
|
0.190%
|
0.380%
|
A-2
|
0.240%
|
0.480%
|
A-3
|
0.300%
|
0.600%
|
M-1
|
0.600%
|
0.900%
|
M-2
|
0.700%
|
1.050%
|
M-3
|
0.900%
|
1.350%
|
M-4
|
1.250%
|
1.875%
|
M-5
|
1.500%
|
2.250%
|
M-6
|
1.750%
|
2.625%
|
M-7
|
1.750%
|
2.625%
|
M-8
|
1.750%
|
2.625%
|
M-9
|
1.750%
|
2.625%
|
Number
of mortgage loans:
|
2,212
|
Aggregate
stated principal balance:
|
$776,597,903
|
Range
of scheduled principal
balances:
|
$37,799
to
$6,043,421
|
Average
scheduled principal balance:.
|
$351,084
|
Range
of mortgage rates:
|
7.397%
to 10.454%
|
Weighted
average mortgage rate:
|
8.853%
|
Range
of remaining terms to stated maturity (months):
|
356
to 479 months
|
Weighted
average remaining terms to stated maturity (months):
|
437
months
|
Weighted
average loan-to-value ratio at origination:
|
79.04%
|
Weighted
average gross margin:
|
3.826%%
|
Weighted
average maximum lifetime mortgage rate (per annum):
|
10.219%
|
Weighted
average months to first interest adjustment date (months):
|
1
|
Loan
Index Type:
|
|
One-Year
MTA
|
100.00%
|
Offered
Certificates
|
S&P
|
Moody’s
|
Class
A-1
|
AAA
|
Aaa
|
Class
A-2
|
AAA
|
Aaa
|
Class
A-3
|
AAA
|
Aaa
|
Class
X-P
|
AAA
|
Aaa
|
Class
R
|
AAA
|
Aaa
|
Class
M-1
|
AA+
|
Aa1
|
Class
M-2
|
AA
|
Aa1
|
Class
M-3
|
AA-
|
Aa2
|
Class
M-4
|
A+
|
Aa3
|
Class
M-5
|
A
|
A1
|
Class
M-6
|
A-
|
A1
|
Class
M-7
|
BBB+
|
A3
|
Class
M-8
|
BBB
|
Baa1
|
Class
M-9
|
BBB-
|
Baa2
|
·
|
If
you purchase your certificates at a discount and principal is repaid
slower than you anticipate, then your yield may be lower than you
anticipate.
|
·
|
If
you purchase your certificates at a premium and principal is repaid
faster
than you anticipate, then your yield may be lower than you
anticipate.
|
·
|
The
rate of prepayments on the mortgage loans will be sensitive to prevailing
interest rates. Generally, if interest rates decline, mortgage loan
prepayments may increase due to the availability of other mortgage
loans
at lower interest rates. Conversely, if prevailing interest rates
rise,
the prepayments on mortgage loans may
decrease.
|
·
|
Refinancing
programs, which may involve targeted soliciting of all or some of
the
mortgagors to refinance their mortgage loans, may increase the rate
of
prepayments on the mortgage loans. Any such refinancing programs
will be
directed at all of the Servicer’s customers and will not be exclusively
directed at the mortgagors related to the mortgage loans in the mortgage
pool.
|
·
|
AHMC
will be required to purchase mortgage loans from the issuing entity
in the
event certain breaches of representations and warranties occur and
have
not been cured and in the event a mortgage loan becomes 30 or more
days
delinquent with respect to its first payment to the issuing entity.
In
addition, AHMC has the option to purchase mortgage loans that
become 90 days or more delinquent, subject to the terms of the pooling
and
servicing agreement. These purchases will have the same effect on
the
holders of the offered certificates as a prepayment in full of any
such
purchased mortgage loans.
|
·
|
As
of the cut-off date, approximately 76.17% of the mortgage loans require
the mortgagor to pay a charge in certain instances if the mortgagor
prepays the mortgage loan during a stated period, which may be from
one
year to three years after the mortgage loan was originated. A
prepayment charge may or may not discourage a mortgagor from prepaying
the
mortgage loan during the applicable period. Any such prepayment
charge that is collected will be paid to the holder of the
Class X-P Certificates and will not be available for payments on
the other
offered certificates.
|
·
|
Because
principal distributions are paid to certain classes of offered
certificates before other such classes, holders of classes of offered
certificates having a later priority of payment bear a greater risk
of
losses than holders of classes having earlier priorities for distribution
of principal.
|
One-Year
MTA
|
||||||||||||||||||||||||||||
Adjustment
Date
|
2001
|
2002
|
2003
|
2004
|
2005
|
2006
|
2007
|
|||||||||||||||||||||
January
1
|
6.00 | % | 3.26 | % | 1.94 | % | 1.23 | % | 2.02 | % | 3.75 | % | 4.98 | % | ||||||||||||||
February
1
|
5.87
|
3.06
|
1.86
|
1.23
|
2.17
|
3.89
|
5.01
|
|||||||||||||||||||||
March
1
|
5.71
|
2.91
|
1.75
|
1.23
|
2.35
|
4.01
|
5.03
|
|||||||||||||||||||||
April
1
|
5.53
|
2.79
|
1.65
|
1.24
|
2.50
|
4.14
|
5.03
|
|||||||||||||||||||||
May
1
|
5.32
|
2.67
|
1.55
|
1.29
|
2.63
|
4.28
|
5.02
|
|||||||||||||||||||||
June
1
|
5.10
|
2.55
|
1.45
|
1.38
|
2.74
|
4.43
|
||||||||||||||||||||||
July
1
|
4.90
|
2.41
|
1.38
|
1.46
|
2.87
|
4.56
|
||||||||||||||||||||||
August
1
|
4.67
|
2.27
|
1.34
|
1.52
|
3.02
|
4.66
|
||||||||||||||||||||||
September
1
|
4.40
|
2.18
|
1.30
|
1.60
|
3.16
|
4.76
|
||||||||||||||||||||||
October
1
|
4.09
|
2.12
|
1.27
|
1.68
|
3.33
|
4.83
|
||||||||||||||||||||||
November
1
|
3.76
|
2.07
|
1.26
|
1.77
|
3.48
|
4.88
|
||||||||||||||||||||||
December
1
|
3.48
|
2.00
|
1.24
|
1.89
|
3.62
|
4.93
|
December
31, 2005
|
December
31, 2006
|
March
31, 2007
|
||||||||||||||||||||||
Loan
Type
|
Number
of Mortgage Loans
|
Principal
Balance
|
Number
of Mortgage Loans
|
Principal
Balance
|
Number
of Mortgage Loans
|
Principal
Balance
|
||||||||||||||||||
Short
Reset ARM
|
3,418
|
$ |
1,287,655,301
|
22,276
|
$ |
8,857,601,642
|
21,046
|
$ |
8,169,960,039
|
|||||||||||||||
Total
|
3,418
|
$ |
1,287,655,301
|
22,276
|
$ |
8,857,601,642
|
21,047
|
$ |
8,169,960,039
|
December
31, 2005
|
December
31, 2006
|
March
31, 2007
|
||||||||||||||||||||||
Loan
Type
|
Number
of Mortgage Loans
|
Principal
Balance
|
Number
of Mortgage Loans
|
Principal
Balance
|
Number
of Mortgage Loans
|
Principal
Balance
|
||||||||||||||||||
Short
Reset ARM
|
3,418
|
$ |
1,287,655,301
|
22,276
|
$ |
8,857,601,642
|
21,046
|
$ |
8,169,960,039
|
|||||||||||||||
Total
|
3,418
|
$ |
1,287,655,301
|
22,276
|
$ |
8,857,601,642
|
21,047
|
$ |
8,169,960,039
|
Short
Reset ARMs
|
December
31, 2004
|
December
31, 2005
|
December
31, 2006
|
March
31, 2007
|
||||||||||||
Number
Of Loans
|
20,751
|
39,699
|
68,802
|
72,328
|
||||||||||||
Principal
Balance
|
$ |
4,762,653,643
|
$ |
11,109,422,516
|
$ |
24,725,791,965
|
$ |
26,242,405,718
|
Description
|
Amount
|
Receiving
Party
|
||
Servicer
Fee
|
With
respect to any mortgage loan, 0.375% per annum*
|
Servicer
|
||
Master
Servicer Compensation
|
Investment
income on funds on deposit in the distribution account
|
Master
Servicer
|
Short
Reset ARMs
|
Year
Ended
December
31, 2004
|
Year
Ended
December
31, 2005
|
Year
Ended
December
31, 2006
|
Three
Months Ended
March
31, 2007
|
||||||||||||
Number
Of Loans
|
21,772
|
28,179
|
53,299
|
9,016
|
||||||||||||
Principal
Balance
|
5,243,914,215
|
$ |
9,539,586,012
|
$ |
20,291,229,888
|
$ |
3,291,921,408
|
·
|
the
mortgage loans, the related mortgage notes, mortgages and other related
documents, including all interest and principal due with respect
to the
mortgage loans after the Cut-off Date, but excluding any payments
of
principal or interest due on or prior to the Cut-off
Date;
|
·
|
any
mortgaged properties acquired on behalf of the Issuing Entity by
foreclosure or by deed in lieu of foreclosure, and any revenues received
thereon;
|
·
|
the
rights of the Issuing Entity under all insurance policies required
to be
maintained pursuant to the Servicing
Agreement;
|
·
|
the
rights of the Depositor under the Mortgage Loan Purchase
Agreement;
|
·
|
such
assets relating to the mortgage loans as from time to time may be
held in
the protected account and the distribution
account;
|
·
|
the
rights with respect to the Servicing Agreement, to the extent assigned
to
the Issuing Entity; and
|
·
|
any
proceeds of the foregoing.
|
(1)
|
If
on such Interest Determination Date two or more Reference Banks provide
such offered quotations, One-Month LIBOR for the related Accrual
Period
shall be the arithmetic mean of such offered quotations (rounded
upwards
if necessary to the nearest whole multiple of
0.0625%).
|
(2)
|
If
on such Interest Determination Date fewer than two Reference Banks
provide
such offered quotations, One-Month LIBOR for the related Accrual
Period
shall be the higher of (x) One-Month LIBOR as determined on the previous
Interest Determination Date and (y) the Reserve Interest
Rate.
|
(3)
|
If
no such quotations can be obtained and no Reference Bank rate is
available, One-Month LIBOR will be the One-Month LIBOR rate applicable
to
the preceding Accrual Period.
|
(1)
|
the
mortgage pool consists of 2,212 mortgage loans with the characteristics
set forth in the table below,
|
(2)
|
the
mortgage loans prepay at the specified percentages of the Prepayment
Assumption, subject to a cap of
95%,
|
(3)
|
no
defaults or delinquencies in, or modifications, waivers or amendments
respecting, the payment by the mortgagors of principal and interest
on the
mortgage loans occur,
|
(4)
|
scheduled
payments on the mortgage loans are received, in cash, on the first
day of
each month, commencing in July 2007, and are computed prior to giving
effect to prepayments received on the last day of the prior
month,
|
(5)
|
there
are no interest shortfalls caused by (a) the application of the Relief
Act
or similar state law or (b) prepayments on the mortgage loans, which
in
the case of (b) have not been covered by Compensating Interest, and
prepayments represent prepayments in full of individual mortgage
loans and
are received on the last day of each month, commencing in June
2007,
|
(6)
|
the
levels of One-Year MTA and One-Month LIBOR remain constant at 5.320%
and
5.022% per annum, respectively,
|
(7)
|
the
scheduled Monthly Payment will be adjusted on the next payment adjustment
date and annually thereafter (as necessary) to equal the fully amortizing
payment described above, subject to a any applicable 7.5% payment
cap
(with the exception of each recast
date);
|
(8)
|
payments
in respect of the Certificates are received in cash on the 25th day
of
each month, commencing in July
2007,
|
(9)
|
the
Certificates are purchased on June 29,
2007,
|
(10)
|
no
investment income is received,
|
(11)
|
the
Servicing Fee remains constant,
|
(12)
|
each
mortgage loan in the table below (i) has a minimum mortgage rate
equal to
the gross margin listed in the table below and (ii) has an initial
recast
period of five years;
|
(13)
|
There
is no initial or subsequent periodic cap with respect to the mortgage
rate
on any mortgage loan; and
|
(14)
|
the
Servicer or its designee does not exercise its option to purchase
the
Certificates described under the caption “Pooling and Servicing
Agreement—Optional Termination” except where
indicated. The optional termination date with respect to the
certificates is the optional termination date where the mortgage
loans may
first be terminated.
|
Loan
Number
|
Current
Principal
Balance
($)
|
Original
Principal
Balance
($)
|
Current
Mortgage
Rate
(%)
|
Net
Mortgage
Rate (%)
|
Remaining
Term
to
Maturity
(months)
|
Original
Term
to
Maturity
(months)
|
Monthly
Scheduled
Principal
and
Interest
Payment
($)
|
Age
(in
months)
|
Mortgage
Index
|
Gross
Margin (%)
|
Prefunded
Loan
|
|||||||||||||||||||||||||||
1
|
677,790.73
|
672,224.00
|
8.894494
|
8.519494
|
358
|
360
|
2,205.22
|
2
|
MTA_1YR
|
3.866390
|
N/A
|
|||||||||||||||||||||||||||
2
|
1,392,048.95
|
1,386,510.00
|
9.128374
|
8.463040
|
359
|
360
|
5,005.80
|
1
|
MTA_1YR
|
4.099374
|
N/A
|
|||||||||||||||||||||||||||
3
|
3,286,228.77
|
3,259,748.00
|
8.616533
|
8.086194
|
478
|
480
|
9,826.85
|
2
|
MTA_1YR
|
3.588788
|
N/A
|
|||||||||||||||||||||||||||
4
|
571,844.92
|
569,600.00
|
8.224155
|
7.849155
|
479
|
480
|
1,657.76
|
1
|
MTA_1YR
|
3.195155
|
N/A
|
|||||||||||||||||||||||||||
5
|
627,140.73
|
620,000.00
|
8.677000
|
8.302000
|
357
|
360
|
2,110.12
|
3
|
MTA_1YR
|
3.650000
|
N/A
|
|||||||||||||||||||||||||||
6
|
5,531,436.81
|
5,995,763.00
|
8.455920
|
7.989047
|
358
|
360
|
19,860.85
|
2
|
MTA_1YR
|
3.427737
|
N/A
|
|||||||||||||||||||||||||||
7
|
586,625.55
|
584,280.00
|
8.679000
|
8.304000
|
359
|
360
|
1,879.28
|
1
|
MTA_1YR
|
3.650000
|
N/A
|
|||||||||||||||||||||||||||
8
|
152,404.64
|
150,000.00
|
7.827000
|
7.452000
|
476
|
480
|
379.28
|
4
|
MTA_1YR
|
2.800000
|
N/A
|
|||||||||||||||||||||||||||
9
|
625,385.31
|
617,000.00
|
8.764200
|
8.133892
|
477
|
480
|
1,712.92
|
3
|
MTA_1YR
|
3.737200
|
N/A
|
|||||||||||||||||||||||||||
10
|
12,117,663.41
|
12,012,083.00
|
8.532357
|
8.025546
|
478
|
480
|
32,578.95
|
2
|
MTA_1YR
|
3.505144
|
N/A
|
|||||||||||||||||||||||||||
11
|
1,937,944.03
|
1,919,000.00
|
8.650003
|
8.275003
|
357
|
360
|
6,446.01
|
3
|
MTA_1YR
|
3.622651
|
N/A
|
|||||||||||||||||||||||||||
12
|
26,274,032.99
|
26,098,173.00
|
8.561330
|
8.020011
|
358
|
360
|
88,888.98
|
2
|
MTA_1YR
|
3.533808
|
N/A
|
|||||||||||||||||||||||||||
13
|
28,013,288.11
|
27,921,009.00
|
8.540926
|
8.025721
|
359
|
360
|
93,589.41
|
1
|
MTA_1YR
|
3.513741
|
N/A
|
|||||||||||||||||||||||||||
14
|
907,615.73
|
896,000.00
|
8.299138
|
7.924138
|
477
|
480
|
2,327.49
|
3
|
MTA_1YR
|
3.271424
|
N/A
|
|||||||||||||||||||||||||||
15
|
37,584,632.80
|
37,260,162.00
|
8.720741
|
8.130134
|
478
|
480
|
101,031.93
|
2
|
MTA_1YR
|
3.695518
|
N/A
|
|||||||||||||||||||||||||||
16
|
37,940,709.84
|
37,768,379.00
|
8.756951
|
8.199002
|
479
|
480
|
100,654.87
|
1
|
MTA_1YR
|
3.741846
|
N/A
|
|||||||||||||||||||||||||||
17
|
858,225.35
|
852,450.00
|
8.518264
|
8.143264
|
358
|
360
|
3,169.05
|
2
|
MTA_1YR
|
3.491264
|
N/A
|
|||||||||||||||||||||||||||
18
|
2,410,478.48
|
2,401,000.00
|
8.815384
|
8.440384
|
359
|
360
|
7,928.59
|
1
|
MTA_1YR
|
3.788633
|
N/A
|
|||||||||||||||||||||||||||
19
|
620,745.75
|
620,000.00
|
8.579000
|
8.204000
|
477
|
480
|
1,567.71
|
3
|
MTA_1YR
|
3.550000
|
N/A
|
|||||||||||||||||||||||||||
20
|
1,601,637.04
|
1,588,000.00
|
8.581946
|
8.109295
|
478
|
480
|
4,548.67
|
2
|
MTA_1YR
|
3.554081
|
N/A
|
|||||||||||||||||||||||||||
21
|
1,974,897.03
|
1,965,999.00
|
8.514139
|
8.139139
|
479
|
480
|
5,049.08
|
1
|
MTA_1YR
|
3.492970
|
N/A
|
|||||||||||||||||||||||||||
22
|
656,617.54
|
650,000.00
|
9.252000
|
8.447000
|
356
|
360
|
2,362.10
|
4
|
MTA_1YR
|
4.225000
|
N/A
|
|||||||||||||||||||||||||||
23
|
5,361,120.08
|
5,321,200.00
|
8.485318
|
8.020458
|
358
|
360
|
17,699.18
|
2
|
MTA_1YR
|
3.457248
|
N/A
|
|||||||||||||||||||||||||||
24
|
288,675.78
|
285,000.00
|
9.027000
|
8.652000
|
476
|
480
|
775.77
|
4
|
MTA_1YR
|
4.000000
|
N/A
|
|||||||||||||||||||||||||||
25
|
903,656.41
|
895,000.00
|
8.837605
|
8.332305
|
477
|
480
|
2,400.28
|
3
|
MTA_1YR
|
3.810605
|
N/A
|
|||||||||||||||||||||||||||
26
|
7,298,541.57
|
7,248,047.00
|
8.719589
|
8.170059
|
478
|
480
|
19,531.39
|
2
|
MTA_1YR
|
3.692099
|
N/A
|
|||||||||||||||||||||||||||
27
|
613,586.24
|
604,800.00
|
8.427000
|
8.052000
|
356
|
360
|
2,058.39
|
4
|
MTA_1YR
|
3.400000
|
N/A
|
|||||||||||||||||||||||||||
28
|
1,212,450.94
|
1,209,400.00
|
8.838200
|
8.463200
|
357
|
360
|
4,049.45
|
3
|
MTA_1YR
|
3.809793
|
N/A
|
|||||||||||||||||||||||||||
29
|
9,803,258.56
|
9,735,810.00
|
8.625993
|
8.000240
|
358
|
360
|
32,758.71
|
2
|
MTA_1YR
|
3.598173
|
N/A
|
|||||||||||||||||||||||||||
30
|
9,050,780.12
|
9,021,700.00
|
8.658342
|
8.098649
|
359
|
360
|
30,443.84
|
1
|
MTA_1YR
|
3.631385
|
N/A
|
|||||||||||||||||||||||||||
31
|
659,591.24
|
651,000.00
|
8.527000
|
8.152000
|
477
|
480
|
1,772.03
|
3
|
MTA_1YR
|
3.500000
|
N/A
|
|||||||||||||||||||||||||||
32
|
33,226,047.91
|
32,934,802.00
|
8.744497
|
8.125364
|
478
|
480
|
88,841.78
|
2
|
MTA_1YR
|
3.716101
|
N/A
|
|||||||||||||||||||||||||||
33
|
25,524,427.03
|
25,410,839.00
|
8.680728
|
8.080598
|
479
|
480
|
68,400.57
|
1
|
MTA_1YR
|
3.654240
|
N/A
|
|||||||||||||||||||||||||||
34
|
353,511.91
|
351,000.00
|
8.574000
|
7.629000
|
358
|
360
|
1,253.92
|
2
|
MTA_1YR
|
3.545000
|
N/A
|
|||||||||||||||||||||||||||
35
|
164,904.46
|
165,000.00
|
8.679000
|
8.304000
|
358
|
360
|
546.00
|
2
|
MTA_1YR
|
3.650000
|
N/A
|
|||||||||||||||||||||||||||
36
|
710,187.69
|
707,400.00
|
9.108665
|
7.963322
|
359
|
360
|
2,480.68
|
1
|
MTA_1YR
|
4.079665
|
N/A
|
|||||||||||||||||||||||||||
37
|
2,127,768.54
|
2,109,750.00
|
8.306479
|
7.815725
|
478
|
480
|
5,613.13
|
2
|
MTA_1YR
|
3.278937
|
N/A
|
|||||||||||||||||||||||||||
38
|
386,681.46
|
385,000.00
|
8.554000
|
7.848980
|
479
|
480
|
1,062.31
|
1
|
MTA_1YR
|
3.525000
|
N/A
|
|||||||||||||||||||||||||||
39
|
557,623.96
|
553,800.00
|
8.712203
|
7.803012
|
358
|
360
|
2,111.48
|
2
|
MTA_1YR
|
3.683203
|
N/A
|
|||||||||||||||||||||||||||
40
|
353,636.59
|
351,200.00
|
7.729000
|
7.354000
|
478
|
480
|
1,045.14
|
2
|
MTA_1YR
|
2.700000
|
N/A
|
|||||||||||||||||||||||||||
41
|
502,186.85
|
500,000.00
|
9.304000
|
8.399000
|
479
|
480
|
1,683.57
|
1
|
MTA_1YR
|
4.275000
|
N/A
|
|||||||||||||||||||||||||||
42
|
2,106,991.76
|
2,093,450.00
|
8.980975
|
8.225776
|
358
|
360
|
7,214.35
|
2
|
MTA_1YR
|
3.953266
|
N/A
|
|||||||||||||||||||||||||||
43
|
348,844.32
|
344,000.00
|
8.877000
|
8.502000
|
477
|
480
|
936.37
|
3
|
MTA_1YR
|
3.850000
|
N/A
|
|||||||||||||||||||||||||||
44
|
2,573,709.74
|
2,552,050.00
|
8.587011
|
8.000681
|
478
|
480
|
6,890.39
|
2
|
MTA_1YR
|
3.559728
|
N/A
|
|||||||||||||||||||||||||||
45
|
373,456.92
|
372,000.00
|
7.734000
|
7.359000
|
479
|
480
|
940.62
|
1
|
MTA_1YR
|
2.720000
|
N/A
|
|||||||||||||||||||||||||||
46
|
352,034.27
|
348,000.00
|
8.529000
|
8.154000
|
357
|
360
|
1,119.31
|
3
|
MTA_1YR
|
3.500000
|
N/A
|
|||||||||||||||||||||||||||
47
|
5,839,581.80
|
5,799,764.00
|
8.711123
|
8.078065
|
358
|
360
|
20,088.43
|
2
|
MTA_1YR
|
3.683441
|
N/A
|
|||||||||||||||||||||||||||
48
|
955,461.50
|
951,500.00
|
9.043343
|
8.178491
|
359
|
360
|
3,201.42
|
1
|
MTA_1YR
|
4.014343
|
N/A
|
|||||||||||||||||||||||||||
49
|
1,085,853.38
|
1,073,000.00
|
8.823604
|
8.240204
|
477
|
480
|
2,947.49
|
3
|
MTA_1YR
|
3.796604
|
N/A
|
|||||||||||||||||||||||||||
50
|
13,197,206.56
|
13,085,283.00
|
8.641995
|
8.028971
|
478
|
480
|
35,359.15
|
2
|
MTA_1YR
|
3.614328
|
N/A
|
|||||||||||||||||||||||||||
51
|
7,360,648.14
|
7,329,750.00
|
8.635802
|
8.045114
|
479
|
480
|
19,479.00
|
1
|
MTA_1YR
|
3.609764
|
N/A
|
|||||||||||||||||||||||||||
52
|
197,862.42
|
198,000.00
|
7.827000
|
7.452000
|
359
|
360
|
673.88
|
1
|
MTA_1YR
|
2.800000
|
N/A
|
|||||||||||||||||||||||||||
53
|
104,224.02
|
104,250.00
|
8.477000
|
8.102000
|
479
|
480
|
283.77
|
1
|
MTA_1YR
|
3.450000
|
N/A
|
|||||||||||||||||||||||||||
54
|
373,234.19
|
370,250.00
|
9.107191
|
8.460621
|
358
|
360
|
1,245.76
|
2
|
MTA_1YR
|
4.080191
|
N/A
|
|||||||||||||||||||||||||||
55
|
641,261.48
|
636,500.00
|
9.065463
|
8.364070
|
358
|
360
|
2,378.20
|
2
|
MTA_1YR
|
4.037713
|
N/A
|
|||||||||||||||||||||||||||
56
|
1,872,579.18
|
1,866,600.00
|
8.749754
|
8.240892
|
359
|
360
|
7,002.73
|
1
|
MTA_1YR
|
3.721046
|
N/A
|
|||||||||||||||||||||||||||
57
|
2,978,370.85
|
2,957,100.00
|
9.253160
|
8.513990
|
478
|
480
|
9,375.91
|
2
|
MTA_1YR
|
4.225221
|
N/A
|
|||||||||||||||||||||||||||
58
|
858,845.71
|
855,200.00
|
8.728414
|
8.353414
|
479
|
480
|
2,571.36
|
1
|
MTA_1YR
|
3.699742
|
N/A
|
|||||||||||||||||||||||||||
59
|
265,103.70
|
261,000.00
|
8.577000
|
8.202000
|
356
|
360
|
839.48
|
4
|
MTA_1YR
|
3.550000
|
N/A
|
|||||||||||||||||||||||||||
60
|
3,050,447.27
|
3,019,150.00
|
9.188874
|
8.428797
|
357
|
360
|
10,344.89
|
3
|
MTA_1YR
|
4.160437
|
N/A
|
|||||||||||||||||||||||||||
61
|
6,845,721.40
|
6,799,725.00
|
8.985161
|
8.366113
|
358
|
360
|
22,949.74
|
2
|
MTA_1YR
|
3.957451
|
N/A
|
|||||||||||||||||||||||||||
62
|
502,287.38
|
500,000.00
|
9.704000
|
8.949000
|
359
|
360
|
1,749.70
|
1
|
MTA_1YR
|
4.675000
|
N/A
|
|||||||||||||||||||||||||||
63
|
3,498,688.25
|
3,453,450.00
|
9.141515
|
8.466908
|
477
|
480
|
9,376.83
|
3
|
MTA_1YR
|
4.113577
|
N/A
|
|||||||||||||||||||||||||||
64
|
27,198,762.11
|
26,949,425.00
|
9.041310
|
8.346591
|
478
|
480
|
73,066.87
|
2
|
MTA_1YR
|
4.013819
|
N/A
|
|||||||||||||||||||||||||||
65
|
325,701.37
|
324,000.00
|
9.779000
|
8.304000
|
479
|
480
|
934.91
|
1
|
MTA_1YR
|
4.750000
|
N/A
|
|||||||||||||||||||||||||||
66
|
270,809.20
|
266,500.00
|
8.829000
|
8.454000
|
356
|
360
|
888.12
|
4
|
MTA_1YR
|
3.800000
|
N/A
|
|||||||||||||||||||||||||||
67
|
6,603,294.67
|
6,543,800.00
|
9.274939
|
8.514090
|
357
|
360
|
22,709.54
|
3
|
MTA_1YR
|
4.227405
|
N/A
|
|||||||||||||||||||||||||||
68
|
35,362,868.35
|
35,105,477.00
|
8.844211
|
8.248829
|
358
|
360
|
118,065.26
|
2
|
MTA_1YR
|
3.816891
|
N/A
|
|||||||||||||||||||||||||||
69
|
26,561,233.66
|
26,511,180.00
|
8.852472
|
8.161199
|
359
|
360
|
90,190.65
|
1
|
MTA_1YR
|
3.825363
|
N/A
|
|||||||||||||||||||||||||||
70
|
415,168.21
|
408,000.00
|
8.848378
|
8.473378
|
476
|
480
|
1,074.21
|
4
|
MTA_1YR
|
3.819378
|
N/A
|
|||||||||||||||||||||||||||
71
|
9,657,882.25
|
9,547,950.00
|
9.412041
|
8.581979
|
477
|
480
|
26,430.76
|
3
|
MTA_1YR
|
4.383762
|
N/A
|
|||||||||||||||||||||||||||
72
|
108,092,955.71
|
107,107,595.00
|
9.004882
|
8.355552
|
478
|
480
|
288,211.87
|
2
|
MTA_1YR
|
3.973637
|
N/A
|
|||||||||||||||||||||||||||
73
|
76,880,366.33
|
76,554,267.00
|
9.011982
|
8.333543
|
479
|
480
|
206,222.12
|
1
|
MTA_1YR
|
3.985010
|
N/A
|
|||||||||||||||||||||||||||
74
|
328,842.84
|
326,200.00
|
8.879000
|
8.504000
|
358
|
360
|
1,094.74
|
2
|
MTA_1YR
|
3.850000
|
N/A
|
|||||||||||||||||||||||||||
75
|
657,867.86
|
650,000.00
|
8.952000
|
8.017000
|
357
|
360
|
2,235.49
|
3
|
MTA_1YR
|
3.925000
|
N/A
|
|||||||||||||||||||||||||||
76
|
1,106,435.66
|
1,098,846.00
|
8.360881
|
7.985881
|
358
|
360
|
3,595.62
|
2
|
MTA_1YR
|
3.332980
|
N/A
|
|||||||||||||||||||||||||||
77
|
535,907.97
|
534,000.00
|
8.307619
|
7.690555
|
359
|
360
|
1,788.55
|
1
|
MTA_1YR
|
3.279982
|
N/A
|
|||||||||||||||||||||||||||
78
|
226,685.25
|
222,300.00
|
9.304000
|
8.389000
|
476
|
480
|
630.14
|
4
|
MTA_1YR
|
4.275000
|
N/A
|
|||||||||||||||||||||||||||
79
|
171,927.26
|
169,200.00
|
9.829000
|
8.434000
|
477
|
480
|
479.62
|
3
|
MTA_1YR
|
4.800000
|
N/A
|
|||||||||||||||||||||||||||
80
|
605,960.40
|
601,500.00
|
8.501640
|
7.911247
|
478
|
480
|
1,651.88
|
2
|
MTA_1YR
|
3.473639
|
N/A
|
|||||||||||||||||||||||||||
81
|
215,616.64
|
214,750.00
|
7.877000
|
7.502000
|
479
|
480
|
543.01
|
1
|
MTA_1YR
|
2.850000
|
N/A
|
|||||||||||||||||||||||||||
82
|
513,322.02
|
511,000.00
|
9.572933
|
8.499725
|
359
|
360
|
1,749.04
|
1
|
MTA_1YR
|
4.543933
|
N/A
|
|||||||||||||||||||||||||||
83
|
243,493.06
|
241,600.00
|
7.727000
|
7.352000
|
478
|
480
|
610.90
|
2
|
MTA_1YR
|
2.700000
|
N/A
|
|||||||||||||||||||||||||||
84
|
780,969.81
|
775,520.00
|
8.156967
|
7.781967
|
358
|
360
|
2,550.51
|
2
|
MTA_1YR
|
3.128465
|
N/A
|
|||||||||||||||||||||||||||
85
|
1,785,173.67
|
1,770,600.00
|
8.010740
|
7.635740
|
478
|
480
|
4,546.48
|
2
|
MTA_1YR
|
2.983196
|
N/A
|
|||||||||||||||||||||||||||
86
|
209,890.37
|
208,000.00
|
8.902000
|
7.997000
|
478
|
480
|
600.19
|
2
|
MTA_1YR
|
3.875000
|
N/A
|
|||||||||||||||||||||||||||
87
|
2,239,426.23
|
2,226,300.00
|
9.181808
|
8.413829
|
358
|
360
|
7,840.67
|
2
|
MTA_1YR
|
4.153708
|
N/A
|
|||||||||||||||||||||||||||
88
|
622,969.33
|
620,499.00
|
8.758401
|
8.302324
|
359
|
360
|
2,034.56
|
1
|
MTA_1YR
|
3.729620
|
N/A
|
|||||||||||||||||||||||||||
89
|
1,668,263.96
|
1,652,600.00
|
8.822671
|
8.447671
|
478
|
480
|
4,215.76
|
2
|
MTA_1YR
|
3.793671
|
N/A
|
|||||||||||||||||||||||||||
90
|
247,106.05
|
246,000.00
|
8.429652
|
8.054652
|
479
|
480
|
622.03
|
1
|
MTA_1YR
|
3.405716
|
N/A
|
|||||||||||||||||||||||||||
91
|
381,230.45
|
378,000.00
|
9.402000
|
8.497000
|
358
|
360
|
1,345.75
|
2
|
MTA_1YR
|
4.375000
|
N/A
|
|||||||||||||||||||||||||||
92
|
574,576.27
|
569,700.00
|
8.602000
|
7.687000
|
478
|
480
|
1,643.89
|
2
|
MTA_1YR
|
3.575000
|
N/A
|
|||||||||||||||||||||||||||
93
|
197,086.83
|
194,700.00
|
9.152000
|
7.927000
|
357
|
360
|
685.11
|
3
|
MTA_1YR
|
4.125000
|
N/A
|
|||||||||||||||||||||||||||
94
|
3,501,084.88
|
3,475,880.00
|
8.434886
|
7.837101
|
358
|
360
|
11,448.31
|
2
|
MTA_1YR
|
3.406918
|
N/A
|
|||||||||||||||||||||||||||
95
|
2,733,514.64
|
2,723,100.00
|
8.779337
|
8.275931
|
359
|
360
|
9,221.92
|
1
|
MTA_1YR
|
3.750499
|
N/A
|
|||||||||||||||||||||||||||
96
|
532,384.82
|
527,500.00
|
8.827000
|
8.452000
|
477
|
480
|
1,333.82
|
3
|
MTA_1YR
|
3.800000
|
N/A
|
|||||||||||||||||||||||||||
97
|
5,800,188.67
|
5,746,850.00
|
9.040012
|
8.222736
|
478
|
480
|
15,692.48
|
2
|
MTA_1YR
|
4.012226
|
N/A
|
|||||||||||||||||||||||||||
98
|
4,364,773.27
|
4,344,200.00
|
9.144914
|
8.391950
|
479
|
480
|
11,900.50
|
1
|
MTA_1YR
|
4.117236
|
N/A
|
|||||||||||||||||||||||||||
99
|
150,604.46
|
149,600.00
|
8.079000
|
7.704000
|
356
|
360
|
575.66
|
4
|
MTA_1YR
|
3.050000
|
N/A
|
|||||||||||||||||||||||||||
100
|
7,093,132.63
|
7,047,700.00
|
9.048671
|
8.281615
|
358
|
360
|
27,021.06
|
2
|
MTA_1YR
|
4.020843
|
N/A
|
|||||||||||||||||||||||||||
101
|
6,008,944.98
|
5,989,801.00
|
9.167532
|
8.346788
|
359
|
360
|
23,312.73
|
1
|
MTA_1YR
|
4.142107
|
N/A
|
|||||||||||||||||||||||||||
102
|
211,930.31
|
209,250.00
|
8.677000
|
8.302000
|
477
|
480
|
622.71
|
3
|
MTA_1YR
|
3.650000
|
N/A
|
|||||||||||||||||||||||||||
103
|
8,515,827.54
|
8,451,009.00
|
8.877356
|
8.238699
|
478
|
480
|
29,458.31
|
2
|
MTA_1YR
|
3.849260
|
N/A
|
|||||||||||||||||||||||||||
104
|
3,843,890.80
|
3,829,823.00
|
8.605096
|
8.073104
|
479
|
480
|
11,725.48
|
1
|
MTA_1YR
|
3.577121
|
N/A
|
|||||||||||||||||||||||||||
105
|
475,461.47
|
471,250.00
|
8.996203
|
8.621203
|
478
|
480
|
1,431.89
|
2
|
MTA_1YR
|
3.967792
|
N/A
|
|||||||||||||||||||||||||||
106
|
501,590.55
|
500,000.00
|
7.679000
|
7.304000
|
359
|
360
|
1,608.20
|
1
|
MTA_1YR
|
2.650000
|
N/A
|
|||||||||||||||||||||||||||
107
|
1,467,265.58
|
1,454,800.00
|
8.996740
|
8.250467
|
357
|
360
|
5,757.38
|
3
|
MTA_1YR
|
3.969348
|
N/A
|
|||||||||||||||||||||||||||
108
|
10,298,419.90
|
10,238,471.00
|
8.625704
|
8.142904
|
358
|
360
|
38,627.98
|
2
|
MTA_1YR
|
3.598309
|
N/A
|
|||||||||||||||||||||||||||
109
|
4,363,662.67
|
4,347,800.00
|
8.878051
|
8.379444
|
359
|
360
|
16,295.24
|
1
|
MTA_1YR
|
3.854275
|
N/A
|
|||||||||||||||||||||||||||
110
|
10,347,936.80
|
10,264,250.00
|
8.680516
|
8.127071
|
478
|
480
|
32,193.62
|
2
|
MTA_1YR
|
3.652856
|
N/A
|
|||||||||||||||||||||||||||
111
|
3,480,297.97
|
3,467,000.00
|
9.124877
|
8.427440
|
479
|
480
|
10,939.12
|
1
|
MTA_1YR
|
4.096848
|
N/A
|
|||||||||||||||||||||||||||
112
|
99,622.94
|
100,000.00
|
7.547000
|
7.172000
|
358
|
360
|
364.64
|
2
|
MTA_1YR
|
2.520000
|
N/A
|
|||||||||||||||||||||||||||
113
|
564,120.87
|
562,000.00
|
9.155233
|
8.179155
|
359
|
360
|
2,162.90
|
1
|
MTA_1YR
|
4.133036
|
N/A
|
|||||||||||||||||||||||||||
114
|
387,965.62
|
384,300.00
|
9.749000
|
8.104000
|
478
|
480
|
1,293.99
|
2
|
MTA_1YR
|
4.720000
|
N/A
|
|||||||||||||||||||||||||||
115
|
122,225.28
|
123,750.00
|
9.079000
|
8.704000
|
358
|
360
|
476.19
|
2
|
MTA_1YR
|
4.050000
|
N/A
|
|||||||||||||||||||||||||||
116
|
108,000.00
|
108,000.00
|
7.827000
|
7.452000
|
358
|
360
|
393.81
|
2
|
MTA_1YR
|
2.800000
|
N/A
|
|||||||||||||||||||||||||||
117
|
225,828.60
|
225,000.00
|
9.239000
|
8.334000
|
359
|
360
|
903.71
|
1
|
MTA_1YR
|
4.225000
|
N/A
|
|||||||||||||||||||||||||||
118
|
2,263,192.27
|
2,247,974.00
|
8.815546
|
8.195293
|
358
|
360
|
8,701.97
|
2
|
MTA_1YR
|
3.788268
|
N/A
|
|||||||||||||||||||||||||||
119
|
1,534,071.62
|
1,529,100.00
|
8.509527
|
7.925818
|
359
|
360
|
5,866.11
|
1
|
MTA_1YR
|
3.488797
|
N/A
|
|||||||||||||||||||||||||||
120
|
2,125,446.41
|
2,108,400.00
|
8.616380
|
7.964020
|
478
|
480
|
6,625.78
|
2
|
MTA_1YR
|
3.588557
|
N/A
|
|||||||||||||||||||||||||||
121
|
2,536,154.77
|
2,526,250.00
|
8.557191
|
8.119202
|
479
|
480
|
7,852.33
|
1
|
MTA_1YR
|
3.530541
|
N/A
|
|||||||||||||||||||||||||||
122
|
361,427.16
|
360,000.00
|
9.579000
|
8.104000
|
359
|
360
|
1,445.94
|
1
|
MTA_1YR
|
4.550000
|
N/A
|
|||||||||||||||||||||||||||
123
|
327,211.27
|
325,000.00
|
7.647000
|
7.272000
|
478
|
480
|
967.17
|
2
|
MTA_1YR
|
2.620000
|
N/A
|
|||||||||||||||||||||||||||
124
|
217,860.53
|
216,000.00
|
8.729000
|
8.354000
|
478
|
480
|
642.79
|
2
|
MTA_1YR
|
3.700000
|
N/A
|
|||||||||||||||||||||||||||
125
|
292,913.57
|
292,000.00
|
7.864000
|
7.489000
|
479
|
480
|
868.96
|
1
|
MTA_1YR
|
2.850000
|
N/A
|
|||||||||||||||||||||||||||
126
|
292,283.10
|
290,000.00
|
9.802000
|
9.427000
|
358
|
360
|
1,226.57
|
2
|
MTA_1YR
|
4.775000
|
N/A
|
|||||||||||||||||||||||||||
127
|
144,638.88
|
142,200.00
|
9.777000
|
8.532000
|
356
|
360
|
552.66
|
4
|
MTA_1YR
|
4.750000
|
N/A
|
|||||||||||||||||||||||||||
128
|
2,599,385.91
|
2,578,500.00
|
9.055011
|
8.350234
|
357
|
360
|
9,910.48
|
3
|
MTA_1YR
|
4.027250
|
N/A
|
|||||||||||||||||||||||||||
129
|
14,691,437.60
|
14,595,448.00
|
8.875455
|
8.291373
|
358
|
360
|
55,308.84
|
2
|
MTA_1YR
|
3.847849
|
N/A
|
|||||||||||||||||||||||||||
130
|
7,627,563.47
|
7,601,430.00
|
9.031016
|
8.339102
|
359
|
360
|
29,483.48
|
1
|
MTA_1YR
|
4.006406
|
N/A
|
|||||||||||||||||||||||||||
131
|
1,697,782.31
|
1,678,918.00
|
9.264988
|
8.660446
|
477
|
480
|
5,345.56
|
3
|
MTA_1YR
|
4.237675
|
N/A
|
|||||||||||||||||||||||||||
132
|
19,169,395.37
|
19,020,535.00
|
9.201629
|
8.540022
|
478
|
480
|
60,236.88
|
2
|
MTA_1YR
|
4.173700
|
N/A
|
|||||||||||||||||||||||||||
133
|
11,233,999.45
|
11,184,950.00
|
9.247476
|
8.450481
|
479
|
480
|
35,572.10
|
1
|
MTA_1YR
|
4.221706
|
N/A
|
|||||||||||||||||||||||||||
134
|
200,638.96
|
199,500.00
|
7.977000
|
7.602000
|
358
|
360
|
757.50
|
2
|
MTA_1YR
|
2.950000
|
N/A
|
|||||||||||||||||||||||||||
135
|
747,423.84
|
740,500.00
|
9.660831
|
8.642142
|
478
|
480
|
2,459.23
|
2
|
MTA_1YR
|
4.633831
|
N/A
|
|||||||||||||||||||||||||||
136
|
1,256,797.51
|
1,248,350.00
|
8.702158
|
8.232192
|
358
|
360
|
4,708.49
|
2
|
MTA_1YR
|
3.675158
|
N/A
|
|||||||||||||||||||||||||||
137
|
393,225.53
|
391,500.00
|
9.179000
|
7.934000
|
479
|
480
|
1,264.23
|
1
|
MTA_1YR
|
4.150000
|
N/A
|
|||||||||||||||||||||||||||
138
|
244,150.82
|
243,449.00
|
8.079000
|
7.704000
|
359
|
360
|
936.79
|
1
|
MTA_1YR
|
3.050000
|
N/A
|
|||||||||||||||||||||||||||
139
|
209,417.16
|
207,360.00
|
10.027000
|
8.652000
|
478
|
480
|
686.69
|
2
|
MTA_1YR
|
5.000000
|
N/A
|
|||||||||||||||||||||||||||
140
|
267,884.10
|
265,000.00
|
8.729000
|
8.354000
|
357
|
360
|
966.30
|
3
|
MTA_1YR
|
3.700000
|
N/A
|
|||||||||||||||||||||||||||
141
|
1,450,183.76
|
1,442,000.00
|
8.015638
|
7.640638
|
358
|
360
|
5,393.92
|
2
|
MTA_1YR
|
2.988638
|
N/A
|
|||||||||||||||||||||||||||
142
|
176,602.20
|
176,000.00
|
7.677000
|
7.302000
|
479
|
480
|
523.76
|
1
|
MTA_1YR
|
2.650000
|
N/A
|
|||||||||||||||||||||||||||
143
|
744,364.76
|
742,500.00
|
9.896537
|
8.585247
|
359
|
360
|
3,236.94
|
1
|
MTA_1YR
|
4.867537
|
N/A
|
|||||||||||||||||||||||||||
144
|
149,780.97
|
148,500.00
|
9.179000
|
8.044000
|
476
|
480
|
491.77
|
4
|
MTA_1YR
|
4.150000
|
N/A
|
|||||||||||||||||||||||||||
145
|
129,347.90
|
128,000.00
|
8.577000
|
8.202000
|
357
|
360
|
466.74
|
3
|
MTA_1YR
|
3.550000
|
N/A
|
|||||||||||||||||||||||||||
146
|
269,430.85
|
268,200.00
|
10.329000
|
8.854000
|
358
|
360
|
1,077.23
|
2
|
MTA_1YR
|
5.300000
|
N/A
|
|||||||||||||||||||||||||||
147
|
1,500,013.50
|
1,494,300.00
|
9.219042
|
8.365357
|
359
|
360
|
5,754.27
|
1
|
MTA_1YR
|
4.191650
|
N/A
|
|||||||||||||||||||||||||||
148
|
294,834.62
|
292,500.00
|
8.754000
|
7.949000
|
478
|
480
|
968.64
|
2
|
MTA_1YR
|
3.725000
|
N/A
|
|||||||||||||||||||||||||||
149
|
738,127.71
|
736,600.00
|
9.920171
|
8.835538
|
479
|
480
|
2,488.38
|
1
|
MTA_1YR
|
4.891644
|
N/A
|
Loan
Number
|
Months
to Next
Rate
Adjustment and
Rate
Adjustment
Frequency
|
Months
to Next Payment Adjustment
|
Recast
Frequency
(months)
|
Maximum
Mortgage
Rate
(%)
|
Minimum
Mortgage
Rate
(%)
|
Original
Prepayment
Charge Period
(months)
|
Prepayment
Charge
Type
(1)
|
Negative
Amortization
Cap
(%)
|
Payment
Cap(%)
|
1
|
1
|
11
|
60
|
9.950000
|
3.866390
|
N/A
|
N/A
|
110
|
7.5
|
2
|
1
|
12
|
60
|
10.417520
|
4.099374
|
N/A
|
N/A
|
110
|
7.5
|
3
|
1
|
11
|
60
|
10.161174
|
3.588788
|
N/A
|
N/A
|
110
|
7.5
|
4
|
1
|
12
|
60
|
10.181340
|
3.195155
|
N/A
|
N/A
|
110
|
7.5
|
5
|
1
|
10
|
60
|
10.350000
|
3.650000
|
N/A
|
N/A
|
115
|
7.5
|
6
|
1
|
11
|
60
|
10.186954
|
3.388129
|
N/A
|
N/A
|
115
|
7.5
|
7
|
1
|
12
|
60
|
9.950000
|
3.650000
|
N/A
|
N/A
|
115
|
7.5
|
8
|
1
|
9
|
60
|
9.950000
|
2.800000
|
N/A
|
N/A
|
115
|
7.5
|
9
|
1
|
10
|
60
|
10.446343
|
3.737200
|
N/A
|
N/A
|
115
|
7.5
|
10
|
1
|
11
|
60
|
10.223238
|
3.505144
|
N/A
|
N/A
|
115
|
7.5
|
11
|
1
|
10
|
60
|
10.254933
|
3.622651
|
N/A
|
N/A
|
125
|
7.5
|
12
|
1
|
11
|
60
|
10.175723
|
3.533808
|
N/A
|
N/A
|
125
|
7.5
|
13
|
1
|
12
|
60
|
10.145591
|
3.513741
|
N/A
|
N/A
|
125
|
7.5
|
14
|
1
|
10
|
60
|
10.735727
|
3.271424
|
N/A
|
N/A
|
125
|
7.5
|
15
|
1
|
11
|
60
|
10.193271
|
3.695518
|
N/A
|
N/A
|
125
|
7.5
|
16
|
1
|
12
|
60
|
10.149066
|
3.730189
|
N/A
|
N/A
|
125
|
7.5
|
17
|
1
|
11
|
60
|
10.091264
|
3.491264
|
12
|
CW01
|
110
|
7.5
|
18
|
1
|
12
|
60
|
9.950000
|
3.788633
|
12
|
CW01
|
110
|
7.5
|
19
|
1
|
10
|
60
|
9.950000
|
3.550000
|
12
|
CW01
|
110
|
7.5
|
20
|
1
|
11
|
60
|
10.060548
|
3.554081
|
12
|
CW01
|
110
|
7.5
|
21
|
1
|
12
|
60
|
9.950000
|
3.492970
|
12
|
CW01
|
110
|
7.5
|
22
|
1
|
9
|
60
|
10.550000
|
4.225000
|
12
|
CW01
|
115
|
7.5
|
23
|
1
|
11
|
60
|
10.058830
|
3.457248
|
12
|
CW01
|
115
|
7.5
|
24
|
1
|
9
|
60
|
10.350000
|
4.000000
|
12
|
CW01
|
115
|
7.5
|
25
|
1
|
10
|
60
|
10.131814
|
3.810605
|
12
|
CW01
|
115
|
7.5
|
26
|
1
|
11
|
60
|
10.292538
|
3.692099
|
12
|
CW01
|
115
|
7.5
|
27
|
1
|
9
|
60
|
10.350000
|
3.400000
|
12
|
CW01
|
125
|
7.5
|
28
|
1
|
10
|
60
|
10.320603
|
3.809793
|
12
|
CW01
|
125
|
7.5
|
29
|
1
|
11
|
60
|
10.279660
|
3.598173
|
12
|
CW01
|
125
|
7.5
|
30
|
1
|
12
|
60
|
10.179067
|
3.631385
|
12
|
CW01
|
125
|
7.5
|
31
|
1
|
10
|
60
|
10.350000
|
3.500000
|
12
|
CW01
|
125
|
7.5
|
32
|
1
|
11
|
60
|
10.253838
|
3.716802
|
12
|
CW01
|
125
|
7.5
|
33
|
1
|
12
|
60
|
10.242956
|
3.654240
|
12
|
CW01
|
125
|
7.5
|
34
|
1
|
11
|
60
|
10.550000
|
3.545000
|
12
|
CW04
|
115
|
7.5
|
35
|
1
|
11
|
60
|
10.350000
|
3.650000
|
12
|
CW08
|
125
|
7.5
|
36
|
1
|
12
|
60
|
10.550000
|
4.079665
|
12
|
CW09
|
125
|
7.5
|
37
|
1
|
11
|
60
|
10.062020
|
3.278937
|
12
|
CW09
|
125
|
7.5
|
38
|
1
|
12
|
60
|
10.550000
|
3.525000
|
12
|
CW09
|
125
|
7.5
|
39
|
1
|
11
|
60
|
10.264230
|
3.683203
|
24
|
CW01
|
110
|
7.5
|
40
|
1
|
11
|
60
|
9.950000
|
2.700000
|
24
|
CW01
|
110
|
7.5
|
41
|
1
|
12
|
60
|
10.550000
|
4.275000
|
24
|
CW01
|
110
|
7.5
|
42
|
1
|
11
|
60
|
10.178595
|
3.953266
|
24
|
CW01
|
115
|
7.5
|
43
|
1
|
10
|
60
|
10.350000
|
3.850000
|
24
|
CW01
|
115
|
7.5
|
44
|
1
|
11
|
60
|
10.317892
|
3.559728
|
24
|
CW01
|
115
|
7.5
|
45
|
1
|
12
|
60
|
9.950000
|
2.720000
|
24
|
CW01
|
115
|
7.5
|
46
|
1
|
10
|
60
|
9.950000
|
3.500000
|
24
|
CW01
|
125
|
7.5
|
47
|
1
|
11
|
60
|
10.285174
|
3.683441
|
24
|
CW01
|
125
|
7.5
|
48
|
1
|
12
|
60
|
10.336580
|
4.014343
|
24
|
CW01
|
125
|
7.5
|
49
|
1
|
10
|
60
|
10.185925
|
3.796604
|
24
|
CW01
|
125
|
7.5
|
50
|
1
|
11
|
60
|
10.236330
|
3.614328
|
24
|
CW01
|
125
|
7.5
|
51
|
1
|
12
|
60
|
10.209735
|
3.609764
|
24
|
CW01
|
125
|
7.5
|
52
|
1
|
12
|
60
|
10.350000
|
2.800000
|
24
|
CW07
|
125
|
7.5
|
53
|
1
|
12
|
60
|
10.350000
|
3.450000
|
24
|
CW08
|
125
|
7.5
|
54
|
1
|
11
|
60
|
10.208638
|
4.080191
|
30
|
CW08
|
125
|
7.5
|
55
|
1
|
11
|
60
|
10.175098
|
4.037713
|
36
|
CW01
|
110
|
7.5
|
56
|
1
|
12
|
60
|
10.157021
|
3.721046
|
36
|
CW01
|
110
|
7.5
|
57
|
1
|
11
|
60
|
10.409180
|
4.225221
|
36
|
CW01
|
110
|
7.5
|
58
|
1
|
12
|
60
|
9.950000
|
3.699742
|
36
|
CW01
|
110
|
7.5
|
59
|
1
|
9
|
60
|
9.950000
|
3.550000
|
36
|
CW01
|
115
|
7.5
|
60
|
1
|
10
|
60
|
10.312095
|
4.160437
|
36
|
CW01
|
115
|
7.5
|
61
|
1
|
11
|
60
|
10.241825
|
3.957451
|
36
|
CW01
|
115
|
7.5
|
62
|
1
|
12
|
60
|
10.550000
|
4.675000
|
36
|
CW01
|
115
|
7.5
|
63
|
1
|
10
|
60
|
10.168467
|
4.113577
|
36
|
CW01
|
115
|
7.5
|
64
|
1
|
11
|
60
|
10.278094
|
4.013819
|
36
|
CW01
|
115
|
7.5
|
65
|
1
|
12
|
60
|
10.550000
|
4.750000
|
36
|
CW01
|
115
|
7.5
|
66
|
1
|
9
|
60
|
9.950000
|
3.800000
|
36
|
CW01
|
125
|
7.5
|
67
|
1
|
10
|
60
|
10.357411
|
4.177804
|
36
|
CW01
|
125
|
7.5
|
68
|
1
|
11
|
60
|
10.193526
|
3.815196
|
36
|
CW01
|
125
|
7.5
|
69
|
1
|
12
|
60
|
10.281051
|
3.817298
|
36
|
CW01
|
125
|
7.5
|
70
|
1
|
9
|
60
|
10.165503
|
3.819378
|
36
|
CW01
|
125
|
7.5
|
71
|
1
|
10
|
60
|
10.420396
|
4.383762
|
36
|
CW01
|
125
|
7.5
|
72
|
1
|
11
|
60
|
10.205247
|
3.974214
|
36
|
CW01
|
125
|
7.5
|
73
|
1
|
12
|
60
|
10.222983
|
3.985010
|
36
|
CW01
|
125
|
7.5
|
74
|
1
|
11
|
60
|
10.350000
|
3.850000
|
36
|
CW04
|
115
|
7.5
|
75
|
1
|
10
|
60
|
10.550000
|
3.925000
|
36
|
CW04
|
125
|
7.5
|
76
|
1
|
11
|
60
|
10.069556
|
3.332980
|
36
|
CW04
|
125
|
7.5
|
77
|
1
|
12
|
60
|
10.141103
|
3.279982
|
36
|
CW04
|
125
|
7.5
|
78
|
1
|
9
|
60
|
10.550000
|
4.275000
|
36
|
CW04
|
125
|
7.5
|
79
|
1
|
10
|
60
|
10.550000
|
4.800000
|
36
|
CW04
|
125
|
7.5
|
80
|
1
|
11
|
60
|
10.250549
|
3.473639
|
36
|
CW04
|
125
|
7.5
|
81
|
1
|
12
|
60
|
9.950000
|
2.850000
|
36
|
CW04
|
125
|
7.5
|
82
|
1
|
12
|
60
|
10.510507
|
4.543933
|
36
|
CW05
|
125
|
7.5
|
83
|
1
|
11
|
60
|
9.950000
|
2.700000
|
36
|
CW07
|
115
|
7.5
|
84
|
1
|
11
|
60
|
10.049488
|
3.128465
|
36
|
CW07
|
125
|
7.5
|
85
|
1
|
11
|
60
|
9.950000
|
2.983196
|
36
|
CW07
|
125
|
7.5
|
86
|
1
|
11
|
60
|
10.550000
|
3.875000
|
36
|
CW08
|
115
|
7.5
|
87
|
1
|
11
|
60
|
10.344260
|
4.189303
|
36
|
CW08
|
125
|
7.5
|
88
|
1
|
12
|
60
|
10.106931
|
3.729620
|
36
|
CW08
|
125
|
7.5
|
89
|
1
|
11
|
60
|
9.996396
|
3.793671
|
36
|
CW08
|
125
|
7.5
|
90
|
1
|
12
|
60
|
9.950000
|
3.405716
|
36
|
CW08
|
125
|
7.5
|
91
|
1
|
11
|
60
|
10.550000
|
4.375000
|
36
|
CW09
|
115
|
7.5
|
92
|
1
|
11
|
60
|
10.550000
|
3.575000
|
36
|
CW09
|
115
|
7.5
|
93
|
1
|
10
|
60
|
9.950000
|
4.125000
|
36
|
CW09
|
125
|
7.5
|
94
|
1
|
11
|
60
|
10.091137
|
3.406918
|
36
|
CW09
|
125
|
7.5
|
95
|
1
|
12
|
60
|
10.042360
|
3.750499
|
36
|
CW09
|
125
|
7.5
|
96
|
1
|
10
|
60
|
9.950000
|
3.800000
|
36
|
CW09
|
125
|
7.5
|
97
|
1
|
11
|
60
|
10.290278
|
4.012226
|
36
|
CW09
|
125
|
7.5
|
98
|
1
|
12
|
60
|
10.326382
|
3.926696
|
36
|
CW09
|
125
|
7.5
|
99
|
1
|
57
|
60
|
10.350000
|
3.050000
|
N/A
|
N/A
|
110
|
7.5
|
100
|
1
|
59
|
60
|
10.242559
|
4.020843
|
N/A
|
N/A
|
110
|
7.5
|
101
|
1
|
60
|
60
|
10.424264
|
4.142107
|
N/A
|
N/A
|
110
|
7.5
|
102
|
1
|
58
|
60
|
9.950000
|
3.650000
|
N/A
|
N/A
|
110
|
7.5
|
103
|
1
|
59
|
60
|
10.202183
|
3.849260
|
N/A
|
N/A
|
110
|
7.5
|
104
|
1
|
60
|
60
|
10.110635
|
3.577121
|
N/A
|
N/A
|
110
|
7.5
|
105
|
1
|
59
|
60
|
10.067792
|
3.967792
|
N/A
|
N/A
|
115
|
7.5
|
106
|
1
|
60
|
60
|
9.950000
|
2.650000
|
N/A
|
N/A
|
125
|
7.5
|
107
|
1
|
58
|
60
|
10.432568
|
3.969348
|
12
|
CW01
|
110
|
7.5
|
108
|
1
|
59
|
60
|
10.117625
|
3.598309
|
12
|
CW01
|
110
|
7.5
|
109
|
1
|
60
|
60
|
10.081721
|
3.854275
|
12
|
CW01
|
110
|
7.5
|
110
|
1
|
59
|
60
|
10.190260
|
3.652856
|
12
|
CW01
|
110
|
7.5
|
111
|
1
|
60
|
60
|
10.189559
|
4.096848
|
12
|
CW01
|
110
|
7.5
|
112
|
1
|
59
|
60
|
9.950000
|
2.520000
|
12
|
CW01
|
125
|
7.5
|
113
|
1
|
60
|
60
|
10.277858
|
4.133036
|
12
|
CW04
|
110
|
7.5
|
114
|
1
|
59
|
60
|
10.550000
|
4.720000
|
12
|
CW04
|
110
|
7.5
|
115
|
1
|
59
|
60
|
10.350000
|
4.050000
|
12
|
CW08
|
110
|
7.5
|
116
|
1
|
59
|
60
|
9.950000
|
2.800000
|
12
|
CW08
|
115
|
7.5
|
117
|
1
|
60
|
60
|
10.550000
|
4.225000
|
12
|
CW09
|
110
|
7.5
|
118
|
1
|
59
|
60
|
10.211155
|
3.788268
|
24
|
CW01
|
110
|
7.5
|
119
|
1
|
60
|
60
|
10.243099
|
3.488797
|
24
|
CW01
|
110
|
7.5
|
120
|
1
|
59
|
60
|
10.242699
|
3.588557
|
24
|
CW01
|
110
|
7.5
|
121
|
1
|
60
|
60
|
10.111957
|
3.530541
|
24
|
CW01
|
110
|
7.5
|
122
|
1
|
60
|
60
|
10.550000
|
4.550000
|
24
|
CW04
|
110
|
7.5
|
123
|
1
|
59
|
60
|
9.950000
|
2.620000
|
24
|
CW04
|
110
|
7.5
|
124
|
1
|
59
|
60
|
9.950000
|
3.700000
|
24
|
CW07
|
110
|
7.5
|
125
|
1
|
60
|
60
|
9.950000
|
2.850000
|
24
|
CW08
|
110
|
7.5
|
126
|
1
|
59
|
60
|
9.950000
|
4.775000
|
30
|
CW08
|
110
|
7.5
|
127
|
1
|
57
|
60
|
10.550000
|
4.750000
|
36
|
CW01
|
110
|
7.5
|
128
|
1
|
58
|
60
|
10.352580
|
4.027250
|
36
|
CW01
|
110
|
7.5
|
129
|
1
|
59
|
60
|
10.193739
|
3.847849
|
36
|
CW01
|
110
|
7.5
|
130
|
1
|
60
|
60
|
10.271877
|
4.006406
|
36
|
CW01
|
110
|
7.5
|
131
|
1
|
58
|
60
|
10.176061
|
4.237675
|
36
|
CW01
|
110
|
7.5
|
132
|
1
|
59
|
60
|
10.255581
|
4.173700
|
36
|
CW01
|
110
|
7.5
|
133
|
1
|
60
|
60
|
10.288943
|
4.221706
|
36
|
CW01
|
110
|
7.5
|
134
|
1
|
59
|
60
|
10.350000
|
2.950000
|
36
|
CW01
|
115
|
7.5
|
135
|
1
|
59
|
60
|
10.550000
|
4.633831
|
36
|
CW01
|
115
|
7.5
|
136
|
1
|
59
|
60
|
10.055518
|
3.675158
|
36
|
CW04
|
110
|
7.5
|
137
|
1
|
60
|
60
|
10.550000
|
4.150000
|
36
|
CW04
|
110
|
7.5
|
138
|
1
|
60
|
60
|
10.350000
|
3.050000
|
36
|
CW05
|
110
|
7.5
|
139
|
1
|
59
|
60
|
10.550000
|
5.000000
|
36
|
CW05
|
110
|
7.5
|
140
|
1
|
58
|
60
|
9.950000
|
3.700000
|
36
|
CW07
|
110
|
7.5
|
141
|
1
|
59
|
60
|
9.988562
|
2.988638
|
36
|
CW07
|
110
|
7.5
|
142
|
1
|
60
|
60
|
9.950000
|
2.650000
|
36
|
CW07
|
110
|
7.5
|
143
|
1
|
60
|
60
|
10.550000
|
4.867537
|
36
|
CW08
|
110
|
7.5
|
144
|
1
|
57
|
60
|
10.550000
|
4.150000
|
36
|
CW08
|
110
|
7.5
|
145
|
1
|
58
|
60
|
9.950000
|
3.550000
|
36
|
CW09
|
110
|
7.5
|
146
|
1
|
59
|
60
|
10.550000
|
5.300000
|
36
|
CW09
|
110
|
7.5
|
147
|
1
|
60
|
60
|
10.378739
|
4.191650
|
36
|
CW09
|
110
|
7.5
|
148
|
1
|
59
|
60
|
10.550000
|
3.725000
|
36
|
CW09
|
110
|
7.5
|
149
|
1
|
60
|
60
|
10.408241
|
4.891644
|
36
|
CW09
|
110
|
7.5
|
Type
|
Description
|
CW01
|
Six
Months Interest on 80% of the Prepaid Balance
|
CW04
|
Three
Months Interest on 100% of the Prepaid Balance
|
CW05
|
Two
Months Interest on 100% of the Prepaid Balance
|
CW07
|
Two
Months Interest on 66% of the Prepaid Balance
|
CW08
|
1%
of the Prepaid Balance
|
CW09
|
2%
of the Prepaid Balance
|
Class
A Certificates
|
||||||||||||||||||||
Prepayment
Assumption
|
60%
|
80%
|
100%
|
120%
|
150%
|
|||||||||||||||
Distribution
Date
|
||||||||||||||||||||
Initial
Percentage
|
100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||
June
2008
|
91
|
86
|
80
|
75
|
67
|
|||||||||||||||
June
2009
|
76
|
65
|
55
|
46
|
34
|
|||||||||||||||
June
2010
|
63
|
49
|
37
|
28
|
16
|
|||||||||||||||
June
2011
|
47
|
33
|
23
|
15
|
7
|
|||||||||||||||
June
2012
|
35
|
23
|
14
|
8
|
3
|
|||||||||||||||
June
2013
|
26
|
15
|
8
|
4
|
1
|
|||||||||||||||
June
2014
|
20
|
10
|
5
|
2
|
*
|
|||||||||||||||
June
2015
|
15
|
7
|
3
|
1
|
*
|
|||||||||||||||
June
2016
|
11
|
5
|
2
|
1
|
*
|
|||||||||||||||
June
2017
|
8
|
3
|
1
|
*
|
*
|
|||||||||||||||
June
2018
|
6
|
2
|
1
|
*
|
*
|
|||||||||||||||
June
2019
|
5
|
1
|
*
|
*
|
*
|
|||||||||||||||
June
2020
|
4
|
1
|
*
|
*
|
*
|
|||||||||||||||
June
2021
|
3
|
1
|
*
|
*
|
*
|
|||||||||||||||
June
2022
|
2
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2023
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2024
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2025
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2026
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2027
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2028
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2029
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2030
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2031
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2032
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2033
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2034
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2035
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2036
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2037
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2038
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2039
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2040
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2041
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2042
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2043
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2044
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2045
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2046
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2047
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||
Weighted
Average Life in years (to Maturity)**
|
4.71
|
3.57
|
2.84
|
2.34
|
1.83
|
|||||||||||||||
Weighted
Average Life in years (to optional termination
date)**
|
4.41
|
3.34
|
2.67
|
2.21
|
1.75
|
(*)
|
Indicates
a number that is greater than zero but less than 0.5%, if
applicable.
|
(**)
|
The
weighted average life of a Certificate is determined by (i) multiplying
the net reduction, if any, of the Certificate Principal Balance by
the
number of years from the date of issuance of the Certificate to the
related distribution date, (ii) adding the results, and (iii) dividing
the
sum by the aggregate of the net reductions of the Certificate Principal
Balance described in (i) above.
|
Class
M Certificates
|
||||||||||||||||||||
Prepayment
Assumption
|
60%
|
80%
|
100%
|
120%
|
150%
|
|||||||||||||||
Distribution
Date
|
||||||||||||||||||||
Initial
Percentage
|
100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||
June
2008
|
100
|
100
|
100
|
100
|
100
|
|||||||||||||||
June
2009
|
100
|
100
|
100
|
100
|
89
|
|||||||||||||||
June
2010
|
100
|
100
|
93
|
82
|
66
|
|||||||||||||||
June
2011
|
100
|
76
|
57
|
44
|
27
|
|||||||||||||||
June
2012
|
81
|
52
|
35
|
23
|
11
|
|||||||||||||||
June
2013
|
61
|
35
|
21
|
12
|
4
|
|||||||||||||||
June
2014
|
46
|
24
|
12
|
6
|
2
|
|||||||||||||||
June
2015
|
35
|
16
|
7
|
3
|
1
|
|||||||||||||||
June
2016
|
26
|
11
|
4
|
2
|
*
|
|||||||||||||||
June
2017
|
20
|
7
|
3
|
1
|
*
|
|||||||||||||||
June
2018
|
15
|
5
|
2
|
*
|
*
|
|||||||||||||||
June
2019
|
11
|
3
|
1
|
*
|
*
|
|||||||||||||||
June
2020
|
8
|
2
|
1
|
*
|
*
|
|||||||||||||||
June
2021
|
6
|
1
|
*
|
*
|
*
|
|||||||||||||||
June
2022
|
5
|
1
|
*
|
*
|
*
|
|||||||||||||||
June
2023
|
3
|
1
|
*
|
*
|
*
|
|||||||||||||||
June
2024
|
3
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2025
|
2
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2026
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2027
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2028
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2029
|
1
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2030
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2031
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2032
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2033
|
*
|
*
|
*
|
*
|
*
|
|||||||||||||||
June
2034
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2035
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2036
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2037
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2038
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2039
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2040
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2041
|
*
|
*
|
*
|
*
|
0
|
|||||||||||||||
June
2042
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2043
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2044
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2045
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2046
|
*
|
*
|
*
|
0
|
0
|
|||||||||||||||
June
2047
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||
Weighted
Average Life in years (to Maturity)**
|
7.80
|
5.89
|
4.88
|
4.24
|
3.53
|
|||||||||||||||
Weighted
Average Life in years (to optional
termination date)**
|
7.10
|
5.38
|
4.46
|
3.86
|
3.20
|
(*)
|
Indicates
a number that is greater than zero but less than 0.5%, if
applicable.
|
(**)
|
The
weighted average life of a Certificate is determined by (i) multiplying
the net reduction, if any, of the Certificate Principal Balance by
the
number of years from the date of issuance of the Certificate to the
related distribution date, (ii) adding the results, and (iii) dividing
the
sum by the aggregate of the net reductions of the Certificate Principal
Balance described in (i) above.
|
Assumed
Purchase
Price
|
Assumed
Prepayment
Penalty
Collection Rate
|
60%
|
80%
|
100%
|
120%
|
150%
|
$48,537,362
|
100.00%
|
28.6%
|
22.7%
|
16.8%
|
10.8%
|
2.1%
|
$48,537,362
|
95.00%
|
28.3%
|
22.3%
|
16.2%
|
10.1%
|
1.1%
|
$48,537,362
|
90.00%
|
28.1%
|
21.9%
|
15.7%
|
9.4%
|
0.1%
|
·
|
the
applicable accrual periods for calculating distributions and general
Distribution Dates;
|
·
|
the
total cash flows received;
|
·
|
the
amount, if any, of fees or expenses accrued and
paid;
|
·
|
the
amount, accrued or paid in respect of any credit enhancement or other
support;
|
·
|
the
amount, if any, of the distribution allocable to principal (by
class);
|
·
|
the
amount, if any, of the distribution allocable to interest (by class
and
any shortfalls or carryforwards);
|
·
|
the
amount of, if any, of excess cash flow or excess spread and the
application of such excess cash
flow;
|
·
|
interest
rates, as applicable, to the pool assets and
securities;
|
·
|
the
beginning and ending balance of the reserve fund or similar account,
if
any, together with any material
activity;
|
·
|
the
amounts drawn on any credit enhancement, or other
support;
|
·
|
the
outstanding principal balance or notional amount of each class after
giving effect to the distribution of principal on the Distribution
Date;
|
·
|
number
and amount of pool assets, together with updated pool composition
information;
|
·
|
the
aggregate amount of P&I Advances included in the distributions on the
Distribution Date and the aggregate amount of unreimbursed advances
at the
close of business on the Distribution Date,
and
|
·
|
the
number and aggregate principal balance of any mortgage loans in the
related mortgage pool in respect of which, using the OTS method of
calculation, (A) one scheduled payment is delinquent, (B) two scheduled
payments are delinquent, (C) three or more scheduled payments are
delinquent and (D) foreclosure proceedings have been commenced, and
loss
information for the period.
|
Offered
Certificates
|
S&P
|
Moody’s
|
Class
A-1
|
AAA
|
Aaa
|
Class
A-2
|
AAA
|
Aaa
|
Class
A-3
|
AAA
|
Aaa
|
Class
X-P
|
AAA
|
Aaa
|
Class
R
|
AAA
|
Aaa
|
Class
M-1
|
AA+
|
Aa1
|
Class
M-2
|
AA
|
Aa1
|
Class
M-3
|
AA-
|
Aa2
|
Class
M-4
|
A+
|
Aa3
|
Class
M-5
|
A
|
A1
|
Class
M-6
|
A-
|
A1
|
Class
M-7
|
BBB+
|
A3
|
Class
M-8
|
BBB
|
Baa1
|
Class
M-9
|
BBB-
|
Baa2
|
·
|
reduced
by the aggregate of (a) all amounts allocable to principal previously
distributed with respect to that Certificate and (b) any reductions
in the
Certificate Principal Balance of that Certificate deemed to have
occurred
in connection with allocations of Realized Losses for that series
in the
manner described in this prospectus supplement,
and
|
·
|
increased
by the amount of Net Deferred Interest allocated to such class of
Certificates, as described in this prospectus
supplement.
|
·
|
increased
by the amount of Net Deferred Interest allocated to such Component
(including any Net Deferred Interest allocated to the related X-IO
Component), as described in this prospectus supplement,
and
|
·
|
reduced
by the aggregate of (a) all amounts allocable to principal previously
distributed with respect to that Component and (b) any reductions
in the
Component Principal Balance of that Component deemed to have occurred
in
connection with allocations of Realized Losses for that series in
the
manner described in this prospectus
supplement.
|
Period
|
CPR%
|
1
|
9.31%
|
2
|
11.63%
|
3
|
13.28%
|
4
|
14.92%
|
5
|
16.57%
|
6
|
18.22%
|
7
|
19.86%
|
8
|
21.64%
|
9
|
23.67%
|
10
|
31.75%
|
11
|
36.38%
|
12
|
37.01%
|
13
|
35.16%
|
14
|
33.19%
|
15
|
32.19%
|
16
|
31.20%
|
17
|
30.37%
|
18
|
29.62%
|
19
|
28.86%
|
20
|
28.10%
|
21
|
27.68%
|
22
|
30.98%
|
23
|
32.71%
|
24
|
32.17%
|
25
|
28.09%
|
26
|
25.55%
|
27
|
25.38%
|
28
|
25.20%
|
29
|
25.02%
|
30
|
24.85%
|
31
|
24.67%
|
32
|
24.59%
|
33
|
26.24%
|
34
|
39.86%
|
35
|
46.85%
|
36
|
46.39%
|
37
|
42.51%
|
38+
|
40.00%
|
Period
(dates inclusive)
|
Senior
Prepayment Percentage
|
July
25, 2007 – June 25, 2017
|
100%
|
July
25, 2017 – June 25, 2018
|
Senior
Percentage for the Senior Certificates plus 70% of the Subordinate
Percentage.
|
July
25, 2018 – June 25, 2019
|
Senior
Percentage for the Senior Certificates plus 60% of the Subordinate
Percentage.
|
July
25, 2019 – June 25, 2020
|
Senior
Percentage for the Senior Certificates plus 40% of the Subordinate
Percentage.
|
July
25, 2020 – June 25, 2021
|
Senior
Percentage for the Senior Certificates plus 20% of the Subordinate
Percentage.
|
July
25, 2021 and thereafter
|
Senior
Percentage for the Senior Certificates.
|
|
(1)
|
the
applicable Subordinate Percentage of the principal portion of all
Monthly
Payments due on each mortgage loan on the related Due Date, as specified
in the amortization schedule at the time applicable thereto (after
adjustment for previous Principal Prepayments but before any adjustment
to
such amortization schedule by reason of any bankruptcy or similar
proceeding or any moratorium or similar waiver or grace
period);
|
|
(2)
|
the
applicable Subordinate Prepayment Percentage of the Net Principal
Prepayment Amount;
|
|
(3)
|
the
excess, if any, of (a) the Net Liquidation Proceeds allocable to
principal
received during the related Prepayment Period in respect of each
Liquidated Mortgage Loan and all Subsequent Recoveries received in
respect
of each Liquidated Mortgage Loan during the related Due Period over
(b)
the sum of the amounts distributable to the holders of the related
Senior
Certificates pursuant to clause (3) of the definition of “Senior Optimal
Principal Amount” on such Distribution
Date;
|
|
(4)
|
the
applicable Subordinate Prepayment Percentage of the sum of (a) the
Stated
Principal Balance of each mortgage loan which was repurchased by
the
Sponsor in connection with such Distribution Date and (b) the difference,
if any, between the Stated Principal Balance of each mortgage loan
that
has been replaced by the Sponsor with a substitute mortgage loan
pursuant
to the Mortgage Loan Purchase Agreement or Assignment, Assumption
and
Recognition Agreement, respectively, in connection with such Distribution
Date and the Stated Principal Balance of each such substitute mortgage
loan; and
|
|
(5)
|
on
the Distribution Date on which the Certificate Principal Balances
of the
Senior Certificates have all been reduced to zero, 100% of any applicable
Senior Optimal Principal Amount.
|
(1)
|
borrowing
interests in global securities through Clearstream or Euroclear for
one
day, until the purchase side of the intra-day trade is reflected
in the
relevant Clearstream or Euroclear accounts, in accordance with the
clearing system's customary
procedures;
|
(2)
|
borrowing
interests in global securities in the United States from a DTC participant
no later than one day prior to settlement, which would give sufficient
time for such interests to be reflected in the relevant Clearstream
or
Euroclear accounts in order to settle the sale side of the trade;
or
|
(3)
|
staggering
the value dates for the buy and sell sides of the trade so that the
value
date for the purchase from the DTC participant is at least one day
prior
to the value date for the sale to the Clearstream participant or
Euroclear
participant.
|
Summary
|
Number
of Loans
|
Principal
Balance
($)
|
%
of Pool by Principal Balance
|
Average
Principal
Balance
($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
NegAm
MTA
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % | |||||||||||||||||||||
Total:
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
As
of Date: June 1, 2007
|
Total
Balance: $776,597,903
|
Average
Principal Balance: $351,084
|
WA
Gross Rate: 8.853%
|
WA
Net Rate: 8.229%
|
WA
Gross Margin: 3.826%
|
WA
Net Margin: 3.202%
|
WA
Gross Max Rate: 10.219%
|
WA
Net Max Rate: 9.595%
|
WA
Rem Term (in months): 437
|
WA
Months to Roll: 1
|
WA
FICO: 709
|
WA
Original LTV: 79.04%
|
Interest
Only %: .29%
|
California
%: 41.12%
|
Florida
%: 16.45%
|
%
Original LTV greater than 80% and No
MI: 0%
|
Current
Principal Balance ($)
|
Number
Of
Loans
|
Principal
Balance
($)
|
%
of Pool by Principal Balance
|
Average
Principal
Balance
($)
|
Weighted
Average Gross
Coupon
(%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0.01
- 50,000.00
|
3
|
$ |
133,655
|
0.02 | % | $ |
44,552
|
8.943 | % |
358
|
731
|
81.00 | % | 82.17 | % | |||||||||||||||||||||
50,000.01
- 100,000.00
|
45
|
3,517,265
|
0.45
|
78,161
|
8.740
|
391
|
725
|
77.00
|
77.17
|
|||||||||||||||||||||||||||
100,000.01
- 150,000.00
|
165
|
21,114,701
|
2.72
|
127,968
|
8.772
|
419
|
711
|
76.73
|
76.97
|
|||||||||||||||||||||||||||
150,000.01
- 200,000.00
|
255
|
44,928,400
|
5.79
|
176,190
|
8.882
|
429
|
707
|
77.76
|
78.07
|
|||||||||||||||||||||||||||
200,000.01
- 250,000.00
|
333
|
74,939,078
|
9.65
|
225,042
|
8.928
|
426
|
709
|
80.55
|
81.00
|
|||||||||||||||||||||||||||
250,000.01
- 300,000.00
|
275
|
75,037,795
|
9.66
|
272,865
|
8.963
|
439
|
702
|
78.99
|
79.44
|
|||||||||||||||||||||||||||
300,000.01
- 350,000.00
|
256
|
82,684,304
|
10.65
|
322,986
|
8.917
|
437
|
708
|
80.00
|
80.31
|
|||||||||||||||||||||||||||
350,000.01
- 400,000.00
|
202
|
75,108,666
|
9.67
|
371,825
|
8.995
|
435
|
705
|
80.33
|
80.76
|
|||||||||||||||||||||||||||
400,000.01
- 450,000.00
|
184
|
77,641,734
|
10.00
|
421,966
|
8.997
|
435
|
700
|
80.72
|
81.16
|
|||||||||||||||||||||||||||
450,000.01
- 500,000.00
|
132
|
62,678,297
|
8.07
|
474,836
|
8.944
|
446
|
705
|
82.62
|
83.17
|
|||||||||||||||||||||||||||
500,000.01
- 550,000.00
|
96
|
49,939,089
|
6.43
|
520,199
|
8.830
|
444
|
715
|
80.10
|
80.72
|
|||||||||||||||||||||||||||
550,000.01
- 600,000.00
|
67
|
38,411,898
|
4.95
|
573,312
|
8.719
|
450
|
709
|
79.55
|
80.40
|
|||||||||||||||||||||||||||
600,000.01
- 650,000.00
|
57
|
35,526,865
|
4.57
|
623,278
|
8.772
|
436
|
706
|
79.67
|
80.92
|
|||||||||||||||||||||||||||
650,000.01
- 700,000.00
|
40
|
26,728,179
|
3.44
|
668,204
|
8.595
|
439
|
718
|
77.71
|
79.70
|
|||||||||||||||||||||||||||
700,000.01
- 750,000.00
|
21
|
15,180,753
|
1.95
|
722,893
|
8.584
|
461
|
731
|
79.33
|
80.84
|
|||||||||||||||||||||||||||
750,000.01
– 1,000,000.00
|
53
|
45,770,013
|
5.89
|
863,585
|
8.534
|
443
|
721
|
76.81
|
77.15
|
|||||||||||||||||||||||||||
1,000,000.01
- 1,500,000.00
|
17
|
20,262,479
|
2.61
|
1,191,911
|
8.574
|
430
|
732
|
72.43
|
73.77
|
|||||||||||||||||||||||||||
1,500,000.01
- 2,000,000.00
|
4
|
6,463,958
|
0.83
|
1,615,989
|
8.648
|
420
|
700
|
71.37
|
71.37
|
|||||||||||||||||||||||||||
2,000,000.01
or greater
|
7
|
20,530,774
|
2.64
|
2,932,968
|
8.658
|
430
|
711
|
63.99
|
64.18
|
|||||||||||||||||||||||||||
Total:
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Minimum: $37,799
|
Maximum: $6,043,421
|
Average: $351,084
|
Original
Principal Balance ($)
|
Number
of
Loans
|
Principal
Balance
($)
|
%
of Pool by Principal Balance
|
Average
Principal
Balance
($)
|
Weighted
Average Gross
Coupon
(%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0.01
- 50,000.00
|
3
|
$ |
133,655
|
0.02 | % | $ |
44,552
|
8.943 | % |
358
|
731
|
81.00 | % | 82.17 | % | |||||||||||||||||||||
50,000.01
- 100,000.00
|
50
|
4,020,368
|
0.52
|
80,407
|
8.712
|
390
|
725
|
75.49
|
75.67
|
|||||||||||||||||||||||||||
100,000.01
- 150,000.00
|
172
|
22,426,250
|
2.89
|
130,385
|
8.774
|
421
|
712
|
75.79
|
76.03
|
|||||||||||||||||||||||||||
150,000.01
- 200,000.00
|
264
|
47,339,691
|
6.10
|
179,317
|
8.872
|
430
|
707
|
77.80
|
78.15
|
|||||||||||||||||||||||||||
200,000.01
- 250,000.00
|
328
|
74,775,991
|
9.63
|
227,976
|
8.934
|
426
|
709
|
80.54
|
80.92
|
|||||||||||||||||||||||||||
250,000.01
- 300,000.00
|
285
|
78,816,871
|
10.15
|
276,550
|
8.950
|
439
|
702
|
78.74
|
79.25
|
|||||||||||||||||||||||||||
300,000.01
- 350,000.00
|
248
|
81,215,903
|
10.46
|
327,483
|
8.921
|
437
|
709
|
79.98
|
80.26
|
|||||||||||||||||||||||||||
350,000.01
- 400,000.00
|
206
|
77,672,718
|
10.00
|
377,052
|
9.008
|
436
|
705
|
80.42
|
80.86
|
|||||||||||||||||||||||||||
400,000.01
- 450,000.00
|
180
|
76,993,624
|
9.91
|
427,742
|
8.986
|
434
|
699
|
81.73
|
82.22
|
|||||||||||||||||||||||||||
450,000.01
- 500,000.00
|
139
|
67,180,828
|
8.65
|
483,315
|
9.021
|
447
|
708
|
82.62
|
83.31
|
|||||||||||||||||||||||||||
500,000.01
- 550,000.00
|
77
|
40,698,768
|
5.24
|
528,555
|
8.673
|
439
|
718
|
78.98
|
79.32
|
|||||||||||||||||||||||||||
550,000.01
- 600,000.00
|
71
|
41,199,119
|
5.31
|
580,269
|
8.741
|
453
|
705
|
80.00
|
81.08
|
|||||||||||||||||||||||||||
600,000.01
- 650,000.00
|
65
|
41,306,508
|
5.32
|
635,485
|
8.758
|
432
|
710
|
78.82
|
80.83
|
|||||||||||||||||||||||||||
650,000.01
- 700,000.00
|
28
|
19,229,900
|
2.48
|
686,782
|
8.487
|
453
|
724
|
78.44
|
78.93
|
|||||||||||||||||||||||||||
700,000.01
- 750,000.00
|
17
|
12,519,331
|
1.61
|
736,431
|
8.615
|
464
|
730
|
79.10
|
80.34
|
|||||||||||||||||||||||||||
750,000.01
- 1,000,000.00
|
58
|
50,855,069
|
6.55
|
876,812
|
8.528
|
443
|
722
|
76.23
|
76.81
|
|||||||||||||||||||||||||||
1,000,000.01
- 1,500,000.00
|
11
|
14,729,895
|
1.90
|
1,339,081
|
8.566
|
408
|
723
|
70.82
|
71.63
|
|||||||||||||||||||||||||||
1,500,000.01
- 2,000,000.00
|
3
|
4,952,641
|
0.64
|
1,650,880
|
8.730
|
439
|
718
|
74.84
|
74.84
|
|||||||||||||||||||||||||||
2,000,000.01
or greater
|
7
|
20,530,774
|
2.64
|
2,932,968
|
8.658
|
430
|
711
|
63.99
|
64.18
|
|||||||||||||||||||||||||||
Total:
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Minimum: $37,500
|
||||
Maximum: $6,000,000
|
||||
Average: $348,965
|
Geographical
Distribution
|
Number
of
Loans
|
Principal
Balance
($)
|
%
of Pool by Principal Balance
|
Average
Principal
Balance
($)
|
Weighted
Average Gross
Coupon
(%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
Alabama
|
8
|
$ |
1,756,773
|
0.23 | % | $ |
219,597
|
8.959 | % |
465
|
705
|
85.61 | % | 85.62 | % | |||||||||||||||||||||
Alaska
|
1
|
424,003
|
0.05
|
424,003
|
8.679
|
479
|
701
|
90.00
|
90.00
|
|||||||||||||||||||||||||||
Arizona
|
118
|
36,333,607
|
4.68
|
307,912
|
8.794
|
433
|
711
|
80.82
|
81.17
|
|||||||||||||||||||||||||||
California
|
740
|
319,321,523
|
41.12
|
431,516
|
8.855
|
449
|
708
|
77.40
|
78.03
|
|||||||||||||||||||||||||||
Colorado
|
25
|
7,987,184
|
1.03
|
319,487
|
9.032
|
459
|
724
|
81.73
|
81.79
|
|||||||||||||||||||||||||||
Connecticut
|
25
|
7,534,795
|
0.97
|
301,392
|
9.139
|
449
|
706
|
84.16
|
84.23
|
|||||||||||||||||||||||||||
Delaware
|
6
|
1,967,979
|
0.25
|
327,997
|
8.762
|
433
|
696
|
80.84
|
80.84
|
|||||||||||||||||||||||||||
District
of Columbia
|
8
|
2,263,458
|
0.29
|
282,932
|
8.535
|
447
|
715
|
79.70
|
79.75
|
|||||||||||||||||||||||||||
Florida
|
451
|
127,729,605
|
16.45
|
283,214
|
8.950
|
434
|
709
|
80.50
|
81.10
|
|||||||||||||||||||||||||||
Georgia
|
19
|
5,072,167
|
0.65
|
266,956
|
8.775
|
415
|
742
|
83.22
|
83.34
|
|||||||||||||||||||||||||||
Hawaii
|
21
|
10,148,274
|
1.31
|
483,251
|
8.796
|
393
|
715
|
78.52
|
78.65
|
|||||||||||||||||||||||||||
Idaho
|
5
|
1,043,133
|
0.13
|
208,627
|
8.963
|
424
|
723
|
86.48
|
86.48
|
|||||||||||||||||||||||||||
Illinois
|
54
|
17,303,823
|
2.23
|
320,441
|
8.769
|
393
|
701
|
82.28
|
82.56
|
|||||||||||||||||||||||||||
Indiana
|
5
|
830,838
|
0.11
|
166,168
|
8.684
|
460
|
731
|
87.09
|
87.11
|
|||||||||||||||||||||||||||
Kansas
|
1
|
417,399
|
0.05
|
417,399
|
9.577
|
358
|
655
|
90.00
|
90.00
|
|||||||||||||||||||||||||||
Kentucky
|
4
|
645,439
|
0.08
|
161,360
|
8.829
|
395
|
722
|
79.92
|
80.06
|
|||||||||||||||||||||||||||
Louisiana
|
2
|
1,205,361
|
0.16
|
602,681
|
8.282
|
359
|
696
|
74.27
|
74.78
|
|||||||||||||||||||||||||||
Maryland
|
58
|
19,024,967
|
2.45
|
328,017
|
8.732
|
426
|
699
|
77.92
|
78.50
|
|||||||||||||||||||||||||||
Massachusetts
|
35
|
19,134,616
|
2.46
|
546,703
|
8.779
|
388
|
727
|
72.78
|
72.83
|
|||||||||||||||||||||||||||
Michigan
|
20
|
4,807,478
|
0.62
|
240,374
|
9.008
|
419
|
732
|
80.73
|
80.84
|
|||||||||||||||||||||||||||
Minnesota
|
5
|
1,304,705
|
0.17
|
260,941
|
9.241
|
378
|
695
|
87.85
|
88.21
|
|||||||||||||||||||||||||||
Mississippi
|
1
|
118,785
|
0.02
|
118,785
|
8.577
|
358
|
711
|
90.00
|
90.00
|
|||||||||||||||||||||||||||
Missouri
|
3
|
806,655
|
0.10
|
268,885
|
8.622
|
418
|
681
|
77.11
|
77.14
|
|||||||||||||||||||||||||||
Montana
|
1
|
318,913
|
0.04
|
318,913
|
7.627
|
358
|
712
|
80.00
|
80.00
|
|||||||||||||||||||||||||||
Nevada
|
52
|
14,428,570
|
1.86
|
277,472
|
9.237
|
444
|
685
|
82.59
|
82.79
|
|||||||||||||||||||||||||||
New
Jersey
|
49
|
21,101,553
|
2.72
|
430,644
|
8.789
|
403
|
699
|
77.74
|
78.98
|
|||||||||||||||||||||||||||
New
Mexico
|
4
|
918,071
|
0.12
|
229,518
|
9.434
|
417
|
710
|
86.11
|
86.11
|
|||||||||||||||||||||||||||
New
York
|
45
|
19,507,124
|
2.51
|
433,492
|
8.678
|
404
|
698
|
71.78
|
73.05
|
|||||||||||||||||||||||||||
North
Carolina
|
19
|
5,593,955
|
0.72
|
294,419
|
8.475
|
384
|
705
|
83.55
|
83.97
|
|||||||||||||||||||||||||||
Ohio
|
13
|
2,754,994
|
0.35
|
211,923
|
8.744
|
372
|
696
|
81.71
|
81.77
|
|||||||||||||||||||||||||||
Oklahoma
|
1
|
120,957
|
0.02
|
120,957
|
8.014
|
479
|
765
|
80.00
|
80.00
|
|||||||||||||||||||||||||||
Oregon
|
74
|
22,873,540
|
2.95
|
309,102
|
8.589
|
451
|
715
|
79.71
|
80.21
|
|||||||||||||||||||||||||||
Pennsylvania
|
19
|
3,767,220
|
0.49
|
198,275
|
8.843
|
386
|
696
|
86.08
|
86.41
|
|||||||||||||||||||||||||||
Rhode
Island
|
2
|
453,368
|
0.06
|
226,684
|
8.561
|
358
|
709
|
79.30
|
79.47
|
|||||||||||||||||||||||||||
South
Carolina
|
16
|
4,282,358
|
0.55
|
267,647
|
8.529
|
447
|
716
|
82.38
|
82.48
|
|||||||||||||||||||||||||||
South
Dakota
|
3
|
273,024
|
0.04
|
91,008
|
8.601
|
358
|
762
|
87.92
|
87.92
|
|||||||||||||||||||||||||||
Tennessee
|
13
|
2,077,536
|
0.27
|
159,810
|
8.398
|
398
|
710
|
82.38
|
84.51
|
|||||||||||||||||||||||||||
Texas
|
23
|
3,456,955
|
0.45
|
150,302
|
8.895
|
432
|
731
|
84.35
|
84.45
|
|||||||||||||||||||||||||||
Utah
|
32
|
9,854,411
|
1.27
|
307,950
|
8.852
|
412
|
740
|
81.43
|
81.48
|
|||||||||||||||||||||||||||
Virginia
|
99
|
32,702,788
|
4.21
|
330,331
|
8.861
|
434
|
711
|
81.68
|
83.24
|
|||||||||||||||||||||||||||
Washington
|
129
|
44,175,201
|
5.69
|
342,443
|
8.895
|
461
|
715
|
81.43
|
81.62
|
|||||||||||||||||||||||||||
Wisconsin
|
2
|
493,164
|
0.06
|
246,582
|
8.397
|
392
|
706
|
75.03
|
75.06
|
|||||||||||||||||||||||||||
Wyoming
|
1
|
261,636
|
0.03
|
261,636
|
9.102
|
478
|
754
|
90.00
|
90.00
|
|||||||||||||||||||||||||||
Total:
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Loan-to-
Value
Ratios (%)
|
Number
of
Loans
|
Principal
Balance
($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0.01
- 50.00
|
66
|
$ |
18,076,494
|
2.33 | % | $ |
273,886
|
8.443 | % |
449
|
736
|
40.26 | % | 41.04 | % | |||||||||||||||||||||
50.01
- 55.00
|
30
|
13,663,222
|
1.76
|
455,441
|
8.567
|
404
|
730
|
53.62
|
54.38
|
|||||||||||||||||||||||||||
55.01
- 60.00
|
55
|
19,585,703
|
2.52
|
356,104
|
8.436
|
405
|
685
|
58.15
|
58.56
|
|||||||||||||||||||||||||||
60.01
- 65.00
|
77
|
28,156,668
|
3.63
|
365,671
|
8.525
|
444
|
712
|
62.89
|
63.89
|
|||||||||||||||||||||||||||
65.01
- 70.00
|
139
|
59,962,751
|
7.72
|
431,387
|
8.598
|
423
|
697
|
68.68
|
69.17
|
|||||||||||||||||||||||||||
70.01
- 75.00
|
325
|
118,407,597
|
15.25
|
364,331
|
8.709
|
441
|
706
|
74.23
|
74.65
|
|||||||||||||||||||||||||||
75.01
- 80.00
|
590
|
212,109,736
|
27.31
|
359,508
|
8.505
|
438
|
719
|
79.40
|
80.56
|
|||||||||||||||||||||||||||
80.01
- 85.00
|
112
|
34,420,080
|
4.43
|
307,322
|
9.152
|
439
|
704
|
83.77
|
84.39
|
|||||||||||||||||||||||||||
85.01
- 90.00
|
816
|
271,085,317
|
34.91
|
332,212
|
9.312
|
439
|
705
|
89.53
|
89.67
|
|||||||||||||||||||||||||||
90.01
- 95.00
|
2
|
1,130,336
|
0.15
|
565,168
|
9.098
|
434
|
723
|
93.45
|
93.45
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Combined
Loan-to-Value Ratios (%)
|
Number
of Loans
|
Principal Balance
($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0.01
– 50.00
|
65
|
$ |
17,859,818
|
2.30 | % | $ |
274,766
|
8.442 | % |
450
|
735
|
40.30 | % | 40.66 | % | |||||||||||||||||||||
50.01
- 55.00
|
29
|
13,055,408
|
1.68
|
450,186
|
8.564
|
401
|
731
|
53.71
|
53.88
|
|||||||||||||||||||||||||||
55.01
- 60.00
|
55
|
19,585,703
|
2.52
|
356,104
|
8.436
|
405
|
685
|
58.15
|
58.56
|
|||||||||||||||||||||||||||
60.01
- 65.00
|
77
|
28,108,939
|
3.62
|
365,051
|
8.514
|
447
|
711
|
62.67
|
63.30
|
|||||||||||||||||||||||||||
65.01
- 70.00
|
138
|
59,329,598
|
7.64
|
429,925
|
8.588
|
422
|
696
|
68.67
|
68.95
|
|||||||||||||||||||||||||||
70.01
- 75.00
|
319
|
116,268,522
|
14.97
|
364,478
|
8.705
|
441
|
705
|
74.18
|
74.39
|
|||||||||||||||||||||||||||
75.01
- 80.00
|
545
|
190,786,442
|
24.57
|
350,067
|
8.474
|
436
|
720
|
79.43
|
79.55
|
|||||||||||||||||||||||||||
80.01
- 85.00
|
106
|
33,060,677
|
4.26
|
311,893
|
9.141
|
441
|
704
|
83.73
|
84.10
|
|||||||||||||||||||||||||||
85.01
- 90.00
|
876
|
297,412,459
|
38.30
|
339,512
|
9.271
|
440
|
706
|
88.53
|
89.66
|
|||||||||||||||||||||||||||
90.01
- 95.00
|
2
|
1,130,336
|
0.15
|
565,168
|
9.098
|
434
|
723
|
93.45
|
93.45
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Current
Gross Coupon (%)
|
Number
of Loans
|
Principal Balance
($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
7.001
- 7.500
|
7
|
$ |
2,138,956
|
0.28 | % | $ |
305,565
|
7.463 | % |
413
|
713
|
84.05 | % | 84.66 | % | |||||||||||||||||||||
7.501
- 8.000
|
161
|
58,371,249
|
7.52
|
362,554
|
7.829
|
428
|
722
|
74.21
|
74.57
|
|||||||||||||||||||||||||||
8.001
- 8.500
|
403
|
151,436,118
|
19.50
|
375,772
|
8.285
|
431
|
721
|
75.59
|
76.10
|
|||||||||||||||||||||||||||
8.501
- 9.000
|
798
|
294,102,575
|
37.87
|
368,550
|
8.740
|
438
|
712
|
75.63
|
76.18
|
|||||||||||||||||||||||||||
9.001
- 9.500
|
439
|
137,897,931
|
17.76
|
314,118
|
9.214
|
437
|
711
|
82.51
|
83.64
|
|||||||||||||||||||||||||||
9.501
- 10.000
|
311
|
101,851,390
|
13.12
|
327,496
|
9.742
|
442
|
686
|
88.84
|
89.05
|
|||||||||||||||||||||||||||
10.001
- 10.500
|
93
|
30,799,684
|
3.97
|
331,179
|
10.211
|
450
|
668
|
89.35
|
89.53
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Property
Type
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
Single
Family
|
1,443
|
$ |
513,777,816
|
66.16 | % | $ |
356,048
|
8.849 | % |
437
|
707
|
78.29 | % | 78.85 | % | |||||||||||||||||||||
PUD
|
432
|
157,855,404
|
20.33
|
365,406
|
8.890
|
442
|
707
|
81.24
|
81.83
|
|||||||||||||||||||||||||||
Condo
|
233
|
67,598,596
|
8.70
|
290,123
|
8.870
|
431
|
723
|
81.75
|
82.54
|
|||||||||||||||||||||||||||
2
Family
|
73
|
24,191,979
|
3.12
|
331,397
|
8.782
|
419
|
705
|
77.27
|
77.63
|
|||||||||||||||||||||||||||
4
Family
|
17
|
7,461,422
|
0.96
|
438,907
|
8.755
|
427
|
737
|
71.19
|
71.36
|
|||||||||||||||||||||||||||
3
Family
|
8
|
2,564,055
|
0.33
|
320,507
|
8.885
|
452
|
743
|
70.93
|
71.07
|
|||||||||||||||||||||||||||
High-Rise
Condo
|
5
|
2,204,743
|
0.28
|
440,949
|
8.180
|
446
|
751
|
82.90
|
82.94
|
|||||||||||||||||||||||||||
Coop
|
1
|
943,887
|
0.12
|
943,887
|
7.999
|
479
|
753
|
43.88
|
44.00
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Purpose
|
Number of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
Cash
Out Refinance
|
1,393
|
$ |
480,738,057
|
61.90 | % | $ |
345,110
|
8.847 | % |
435
|
708
|
76.75 | % | 77.08 | % | |||||||||||||||||||||
Rate/Term
Refinance
|
443
|
163,917,953
|
21.11
|
370,018
|
8.985
|
447
|
696
|
81.89
|
82.71
|
|||||||||||||||||||||||||||
Purchase
|
376
|
131,941,893
|
16.99
|
350,909
|
8.713
|
431
|
728
|
83.81
|
84.97
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Occupancy
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
Owner
Occupied
|
1,613
|
$ |
602,545,346
|
77.59 | % | $ |
373,556
|
8.890 | % |
440
|
704
|
79.50 | % | 80.12 | % | |||||||||||||||||||||
Investor
|
455
|
119,963,760
|
15.45
|
263,657
|
8.622
|
427
|
725
|
76.09
|
76.35
|
|||||||||||||||||||||||||||
Second
Home
|
144
|
54,088,796
|
6.96
|
375,617
|
8.959
|
423
|
729
|
80.40
|
81.17
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Months
Remaining to Scheduled Maturity
|
Number of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
479
|
497
|
$ |
180,326,698
|
23.22 | % | $ |
362,830
|
8.889 | % |
479
|
707
|
78.50 | % | 79.31 | % | |||||||||||||||||||||
478
|
830
|
305,343,489
|
39.32
|
367,884
|
8.877
|
478
|
712
|
80.03
|
80.53
|
|||||||||||||||||||||||||||
477
|
55
|
20,922,287
|
2.69
|
380,405
|
9.151
|
477
|
704
|
78.27
|
78.38
|
|||||||||||||||||||||||||||
476
|
6
|
1,232,715
|
0.16
|
205,452
|
8.888
|
476
|
749
|
80.90
|
80.98
|
|||||||||||||||||||||||||||
359
|
324
|
100,334,286
|
12.92
|
309,674
|
8.791
|
359
|
704
|
79.37
|
80.14
|
|||||||||||||||||||||||||||
358
|
443
|
147,234,918
|
18.96
|
332,359
|
8.733
|
358
|
711
|
77.15
|
77.57
|
|||||||||||||||||||||||||||
357
|
51
|
19,102,150
|
2.46
|
374,552
|
9.061
|
357
|
699
|
81.27
|
81.34
|
|||||||||||||||||||||||||||
356
|
6
|
2,101,360
|
0.27
|
350,227
|
8.824
|
356
|
726
|
83.69
|
83.79
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Document
Type
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
Stated
Income / Full Assets
|
1,536
|
$ |
579,073,776
|
74.57 | % | $ |
377,001
|
8.849 | % |
439
|
712
|
79.61 | % | 80.15 | % | |||||||||||||||||||||
Full
Income /
Full Assets
|
377
|
102,562,821
|
13.21
|
272,050
|
8.837
|
434
|
700
|
82.81
|
83.54
|
|||||||||||||||||||||||||||
Stated
Income / Stated Assets
|
299
|
94,961,307
|
12.23
|
317,596
|
8.898
|
424
|
699
|
71.43
|
72.05
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Range
of FICO
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
601
- 620
|
7
|
$ |
2,170,134
|
0.28 | % | $ |
310,019
|
8.901 | % |
377
|
619
|
76.11 | % | 76.32 | % | |||||||||||||||||||||
621
– 640
|
146
|
47,795,031
|
6.15
|
327,363
|
9.132
|
445
|
631
|
77.63
|
78.13
|
|||||||||||||||||||||||||||
641
– 660
|
191
|
62,054,257
|
7.99
|
324,891
|
9.059
|
424
|
651
|
77.62
|
78.07
|
|||||||||||||||||||||||||||
661
– 680
|
368
|
126,648,633
|
16.31
|
344,154
|
9.106
|
438
|
670
|
80.55
|
81.06
|
|||||||||||||||||||||||||||
681
– 700
|
347
|
127,987,856
|
16.48
|
368,841
|
8.906
|
432
|
690
|
79.68
|
80.09
|
|||||||||||||||||||||||||||
701
– 720
|
328
|
114,657,154
|
14.76
|
349,564
|
8.809
|
441
|
710
|
80.39
|
81.15
|
|||||||||||||||||||||||||||
721
– 740
|
234
|
85,236,000
|
10.98
|
364,256
|
8.655
|
438
|
731
|
79.69
|
80.23
|
|||||||||||||||||||||||||||
741
– 760
|
208
|
75,458,152
|
9.72
|
362,780
|
8.708
|
442
|
750
|
79.97
|
80.50
|
|||||||||||||||||||||||||||
761
– 780
|
190
|
66,857,399
|
8.61
|
351,881
|
8.650
|
436
|
770
|
76.10
|
76.77
|
|||||||||||||||||||||||||||
781
– 800
|
140
|
50,289,641
|
6.48
|
359,212
|
8.566
|
434
|
790
|
76.62
|
77.54
|
|||||||||||||||||||||||||||
801
– 820
|
52
|
17,267,822
|
2.22
|
332,074
|
8.625
|
441
|
808
|
75.11
|
75.81
|
|||||||||||||||||||||||||||
821
– 840
|
1
|
175,823
|
0.02
|
175,823
|
8.679
|
479
|
823
|
25.93
|
26.00
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Prepayment
Penalty Months
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0
|
466
|
$ |
185,028,176
|
23.83 | % | $ |
397,056
|
8.684 | % |
427
|
714
|
77.80 | % | 78.69 | % | |||||||||||||||||||||
12
|
365
|
137,273,137
|
17.68
|
376,091
|
8.704
|
436
|
711
|
78.13
|
78.92
|
|||||||||||||||||||||||||||
24
|
132
|
45,567,600
|
5.87
|
345,209
|
8.660
|
441
|
715
|
79.70
|
80.03
|
|||||||||||||||||||||||||||
30
|
3
|
665,517
|
0.09
|
221,839
|
9.412
|
358
|
684
|
84.39
|
84.44
|
|||||||||||||||||||||||||||
36
|
1,246
|
408,063,472
|
52.55
|
327,499
|
9.001
|
441
|
706
|
79.82
|
80.20
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Cur
LTV/PMI Analysis
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Current Original LTV (%)
|
|||||||||||||||||||||||||||
Greater
than 80% LTV, no Mortgage Insurance
|
0
|
$ |
0
|
0.00 | % | $ |
0
|
0.000 | % |
0
|
0
|
0.00 | % | 0.00 | % | |||||||||||||||||||||
Greater
than 80% LTV, with Mortgage Insurance
|
930
|
306,635,733
|
39.48
|
329,716
|
9.293
|
439
|
704
|
88.90
|
89.09
|
|||||||||||||||||||||||||||
Greater
than 80% LTV, unknown Mortgage Insurance
|
0
|
0
|
0.00
|
0
|
0.000
|
0
|
0
|
0.00
|
0.00
|
|||||||||||||||||||||||||||
Less
than or equal to 80% LTV
|
1,282
|
469,962,170
|
60.52
|
366,585
|
8.566
|
435
|
712
|
72.60
|
73.42
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Original
LTV/PMI Analysis
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Current LTV (%)
|
|||||||||||||||||||||||||||
Greater
than 80% LTV, no Mortgage Insurance
|
421
|
$ |
147,653,815
|
19.01 | % | $ |
350,722
|
8.500 | % |
438
|
722
|
79.99 | % | 80.55 | % | |||||||||||||||||||||
Greater
than 80% LTV, with Mortgage Insurance
|
929
|
306,297,918
|
39.44
|
329,707
|
9.294
|
439
|
704
|
88.90
|
89.44
|
|||||||||||||||||||||||||||
Greater
than 80% LTV, unknown Mortgage Insurance
|
0
|
0
|
0.00
|
0
|
0.000
|
0
|
0
|
0.00
|
0.00
|
|||||||||||||||||||||||||||
Less
than or equal to 80% LTV
|
862
|
322,646,170
|
41.55
|
374,300
|
8.597
|
434
|
708
|
69.24
|
69.51
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.47 | % |
Months
to Roll
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
1
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % | |||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Gross
Margin (%)
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
2.001
-
3.000
|
191
|
$ |
69,024,314
|
8.89 | % | $ |
361,384
|
7.842 | % |
427
|
725
|
74.08 | % | 74.44 | % | |||||||||||||||||||||
3.001
-
4.000
|
1,250
|
456,690,161
|
58.81
|
365,352
|
8.616
|
436
|
714
|
75.74
|
76.32
|
|||||||||||||||||||||||||||
4.001
-
5.000
|
690
|
224,550,694
|
28.91
|
325,436
|
9.483
|
440
|
699
|
86.05
|
86.72
|
|||||||||||||||||||||||||||
5.001
-
6.000
|
81
|
26,332,735
|
3.39
|
325,095
|
10.242
|
446
|
668
|
89.39
|
89.57
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Maximum
Rates(%)
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
9.001
- 10.000
|
987
|
$ |
391,763,768
|
50.45 | % | $ |
396,924
|
8.540 | % |
437
|
707
|
73.37 | % | 74.23 | % | |||||||||||||||||||||
10.001
- 11.000
|
1,220
|
383,176,315
|
49.34
|
314,079
|
9.172
|
437
|
711
|
84.83
|
85.11
|
|||||||||||||||||||||||||||
11.001
- 12.000
|
5
|
1,657,820
|
0.21
|
331,564
|
9.341
|
413
|
695
|
78.61
|
78.84
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Next
Interest Adjustment Date
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
July
2007
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % | |||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Initial
Fixed Rate Period (months)
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
1
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % | |||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Initial
Fixed Payment Period (months)
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
12
|
1,797
|
$ |
642,444,186
|
82.73 | % | $ |
357,509
|
8.833 | % |
441
|
711
|
79.01 | % | 79.63 | % | |||||||||||||||||||||
60
|
415
|
134,153,717
|
17.27
|
323,262
|
8.950
|
419
|
699
|
79.16
|
79.51
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Minimum
Mortgage Rate(%)
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
2.001
- 3.000
|
194
|
$ |
70,287,824
|
9.05 | % | $ |
362,308
|
7.853 | % |
427
|
725
|
74.33 | % | 74.68 | % | |||||||||||||||||||||
3.001
- 4.000
|
1,248
|
456,025,402
|
58.72
|
365,405
|
8.616
|
436
|
714
|
75.73
|
76.31
|
|||||||||||||||||||||||||||
4.001
- 5.000
|
689
|
223,951,942
|
28.84
|
325,039
|
9.486
|
440
|
699
|
86.03
|
86.70
|
|||||||||||||||||||||||||||
5.001
- 6.000
|
81
|
26,332,735
|
3.39
|
325,095
|
10.242
|
446
|
668
|
89.39
|
89.57
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Initial
Cap
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % | |||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Subsequent
Cap
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % | |||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Interest
Only Period (months)
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
0
|
2,208
|
$ |
774,365,364
|
99.71 | % | $ |
350,709
|
8.855 | % |
437
|
709
|
79.05 | % | 79.62 | % | |||||||||||||||||||||
120
|
4
|
2,232,539
|
0.29
|
558,135
|
8.151
|
358
|
780
|
73.58
|
74.02
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Maximum
Negative Amortization
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
110
|
464
|
$ |
153,179,381
|
19.72 | % | $ |
330,128
|
8.929 | % |
420
|
700
|
78.86 | % | 79.31 | % | |||||||||||||||||||||
115
|
235
|
84,862,051
|
10.93
|
361,115
|
8.839
|
440
|
716
|
79.34
|
79.69
|
|||||||||||||||||||||||||||
125
|
1,513
|
538,556,471
|
69.35
|
355,953
|
8.834
|
441
|
711
|
79.04
|
79.68
|
|||||||||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Payment
Recast Period
|
Number
of Loans
|
Principal
Balance ($)
|
%
of Pool by Principal Balance
|
Average
Principal Balance ($)
|
Weighted
Average Gross Coupon (%)
|
Remaining
Term (months)
|
Weighted
Average FICO
|
Weighted
Average Original LTV (%)
|
Weighted
Average Combined Original LTV (%)
|
|||||||||||||||||||||||||||
60
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % | |||||||||||||||||||||
Total
|
2,212
|
$ |
776,597,903
|
100.00 | % | $ |
351,084
|
8.853 | % |
437
|
709
|
79.04 | % | 79.61 | % |
Prepayment
Charge Type
|
Number
of
Mortgage
Loans
|
Aggregate
Stated Principal Balance
|
%
of Aggregate Stated Principal Balance
|
|||||||||
6
Months Interest on 80% of the Prepaid Principal
Balance
|
|
|
|
|||||||||
1
Year
|
350
|
$ |
132,121,943
|
17.01 | % | |||||||
2
Year
|
126
|
$ |
44,066,101
|
5.67 | % | |||||||
3
Year
|
1125
|
$ |
369,994,613
|
47.64 | % | |||||||
3
Months Interest on 100% of the Prepaid Principal
Balance
|
||||||||||||
1
Year
|
4
|
$ |
1,305,598
|
0.17 | % | |||||||
2
Year
|
2
|
$ |
688,638
|
0.09 | % | |||||||
3
Year
|
16
|
$ |
5,499,267
|
0.71 | % | |||||||
2
Months Interest on 100% of the Prepaid Principal
Balance
|
||||||||||||
3
Year
|
4
|
$ |
966,890
|
0.12 | % | |||||||
2
Months Interest on 66% of the Prepaid Principal
Balance
|
||||||||||||
2
Year
|
2
|
$ |
415,723
|
0.05 | % | |||||||
3
Year
|
14
|
$ |
4,704,307
|
0.61 | % | |||||||
1%
of the Prepaid Principal Balance
|
||||||||||||
1
Year
|
3
|
$ |
395,130
|
0.05 | % | |||||||
2
Year
|
2
|
$ |
397,138
|
0.05 | % | |||||||
30
Month
|
3
|
$ |
665,517
|
0.09 | % | |||||||
3
Year
|
24
|
$ |
5,881,802
|
0.76 | % | |||||||
2%
of the Prepaid Principal Balance
|
||||||||||||
1
Year
|
8
|
$ |
3,450,466
|
0.44 | % | |||||||
3
Year
|
63
|
$ |
21,016,594
|
2.71 | % | |||||||
No
Prepayment Charge
|
466
|
$ |
185,028,176
|
23.83 | % | |||||||
Totals
|
2212
|
$ |
776,597,903
|
100.00 | % |
The
information contained in this Prospectus is not complete and
may be
changed. We may not sell these securities until the registration
statement
filed with the Securities and Exchange Commission is effective.
This
Prospectus is not an offer to sell these securities and is not
soliciting
of any offer to buy these securities in any state where the offer
or sale
is not permitted.
|
You
should consider carefully the risk factors in the prospectus
supplement.
|
· |
mortgage
loans secured by first and junior liens on the related mortgage
property;
|
· |
home
equity revolving lines of credit;
|
· |
mortgage
loans where the borrower has little or no equity in the related
mortgaged
property;
|
· |
mortgage
loans secured by one-to-four-family residential properties;
|
· |
mortgage
loans secured by multifamily properties, commercial properties
and mixed
residential and commercial properties, provided that the concentration
of
these properties is less than 10% of the pool; and
|
· |
manufactured
housing conditional sales contracts and installment loan agreements
or
interests therein;
|
Caption | Page |
INTRODUCTION
|
1
|
General
|
1
|
THE
MORTGAGE POOLS
|
2
|
General
|
2
|
The
Mortgage Loans
|
4
|
Underwriting
Standards
|
8
|
FICO
Scores
|
11
|
Qualifications
of Originators and Sellers
|
11
|
Representations
by Sellers
|
11
|
Optional
Purchase of Defaulted Mortgage Loans
|
14
|
STATIC
POOL INFORMATION
|
14
|
SERVICING
OF MORTGAGE LOANS
|
15
|
General
|
15
|
The
Master Servicer
|
15
|
The
Servicers
|
15
|
Collection
and Other Servicing Procedures; Mortgage Loan
Modifications
|
16
|
Special
Servicers
|
18
|
Realization
Upon or Sale of Defaulted Mortgage Loans
|
18
|
Servicing
and Other Compensation and Payment of Expenses; Retained
Interest
|
21
|
Evidence
as to Compliance
|
22
|
DESCRIPTION
OF THE SECURITIES
|
23
|
General
|
23
|
Form
of Securities
|
26
|
Global
Securities
|
27
|
Assignment
of Trust Fund Assets
|
30
|
Distribution
Account
|
33
|
Distributions
|
37
|
Distributions
of Interest and Principal on the Securities
|
38
|
Pre-Funding
Account
|
39
|
Distributions
on the Securities in Respect of Prepayment Premiums
|
39
|
Allocation
of Losses and Shortfalls
|
39
|
Advances
|
40
|
Modifications
|
40
|
Reports
to Securityholders
|
41
|
DESCRIPTION
OF CREDIT ENHANCEMENT
|
43
|
General
|
43
|
Subordinate
Securities
|
43
|
Cross-Collateralization
|
43
|
Overcollateralization
|
44
|
Financial
Guaranty Insurance Policy
|
44
|
Mortgage
Pool Insurance Policies
|
44
|
Letter
of Credit
|
45
|
Special
Hazard Insurance Policies
|
45
|
Reserve
Funds
|
46
|
Cash
Flow Agreements
|
46
|
Maintenance
of Credit Enhancement
|
47
|
Reduction
or Substitution of Credit Enhancement
|
48
|
OTHER
FINANCIAL OBLIGATIONS RELATED TO THE SECURITIES
|
49
|
Derivatives
|
49
|
Purchase
Obligations
|
50
|
DESCRIPTION
OF PRIMARY MORTGAGE INSURANCE, HAZARD INSURANCE; CLAIMS
THEREUNDER
|
51
|
General
|
51
|
Primary
Mortgage Insurance Policies
|
51
|
Hazard
Insurance Policies
|
52
|
FHA
Mortgage Insurance
|
53
|
VA
Mortgage Guaranty
|
54
|
THE
DEPOSITOR
|
55
|
THE
AGREEMENTS
|
55
|
General
|
55
|
Certain
Matters Regarding the Master Servicer and the Depositor
|
56
|
Events
of Default and Rights Upon Event of Default
|
57
|
Amendment
|
60
|
Termination;
Retirement of Securities
|
61
|
The
Trustee
|
63
|
Duties
of the Trustee
|
63
|
Some
Matters Regarding the Trustee
|
64
|
Resignation
and Removal of the Trustee
|
64
|
YIELD
CONSIDERATIONS
|
65
|
MATURITY
AND PREPAYMENT CONSIDERATIONS
|
67
|
LEGAL
ASPECTS OF MORTGAGE LOANS
|
69
|
Mortgages
|
69
|
Cooperative
Mortgage Loans
|
70
|
Tax
Aspects of Cooperative Ownership
|
71
|
Leases
and Rents
|
71
|
Contracts
|
71
|
Foreclosure
on Mortgages and Some Contracts
|
73
|
Foreclosure
on Shares of Cooperatives
|
75
|
Repossession
with respect to Contracts
|
76
|
Rights
of Redemption
|
77
|
Anti-Deficiency
Legislation and Other Limitations on Lenders
|
78
|
Environmental
Legislation
|
80
|
Consumer
Protection Laws
|
81
|
Homeownership
Act and Similar State Laws
|
81
|
Additional
Consumer Protections Laws with Respect to Contracts
|
82
|
Enforceability
of Certain Provisions
|
82
|
Subordinate
Financing
|
84
|
Installment
Contracts
|
84
|
Applicability
of Usury Laws
|
85
|
Alternative
Mortgage Instruments
|
85
|
Formaldehyde
Litigation with Respect to Contracts
|
86
|
Servicemembers
Relief Act
|
86
|
Forfeitures
in Drug and RICO Proceedings
|
87
|
Junior
Mortgages
|
87
|
Negative
Amortization Loans
|
88
|
FEDERAL
INCOME TAX CONSEQUENCES
|
88
|
General
|
88
|
REMICS
|
89
|
Notes
|
106
|
Grantor
Trust Funds
|
107
|
Callable
Classes
|
117
|
Penalty
Avoidance
|
117
|
STATE
AND OTHER TAX CONSEQUENCES
|
117
|
ERISA
CONSIDERATIONS
|
117
|
Class
Exemptions
|
118
|
Underwriter
Exemption
|
120
|
Other
Exemptions
|
126
|
ERISA
Considerations Relating to Notes
|
126
|
Callable
Securities
|
128
|
Tax
Exempt Investors
|
128
|
Consultation
with Counsel
|
128
|
LEGAL
INVESTMENT MATTERS
|
129
|
USE
OF PROCEEDS
|
130
|
METHODS
OF DISTRIBUTION
|
130
|
LEGAL
MATTERS
|
131
|
FINANCIAL
INFORMATION
|
131
|
RATING
|
132
|
INCORPORATION
OF INFORMATION BY REFERENCE
|
132
|
GLOSSARY
|
133
|
· |
Fixed-rate,
fully-amortizing mortgage loans (which may include mortgage loans
converted from adjustable-rate mortgage loans or otherwise modified)
providing for level monthly payments of principal and interest
and terms
at origination or modification of not more than approximately
40
years;
|
· |
Fixed-rate,
fully-amortizing mortgage loans (which may include mortgage loans
converted from adjustable-rate mortgage loans or otherwise modified)
providing for level monthly payments of principal and interest
and terms
at origination or modification of more than 15 years, but not
more than
approximately 40 years;
|
· |
Fully-amortizing
ARM Loans having an original or modified term to maturity of
not more than
approximately 40 years with a related mortgage rate which generally
adjusts initially either three months, six months or one, two,
three,
five, seven or ten years or other intervals subsequent to the
initial
payment date, and thereafter at either three- month, six-month,
one-year
or other intervals (with corresponding adjustments in the amount
of
monthly payments) over the term of the mortgage loan to equal
the sum of
the related Note Margin and the Note Index. The related prospectus
supplement will set forth the relevant Index, which will be of
a type that
is customarily used in the debt and fixed income markets to measure
the
cost of borrowed funds, and the highest, lowest and weighted
average Note
Margin with respect to the ARM Loans in the related mortgage
pool. The
related prospectus supplement will also indicate any periodic
or lifetime
limitations on changes in any per annum mortgage rate at the
time of any
adjustment. An ARM Loan may include a provision that allows the
mortgagor
to convert the adjustable mortgage rate to a fixed rate at some
point
during the term of the ARM Loan generally not later than six
to ten years
subsequent to the initial payment
date;
|
· |
Negatively-amortizing
ARM Loans having original or modified terms to maturity of not
more than
approximately 40 years with mortgage rates which generally adjust
initially on the payment date referred to in the related prospectus
supplement, and on each of specified periodic payment dates thereafter,
to
equal the sum of the Note Margin and the Index. The scheduled
monthly
payment will be adjusted as and when described in the related
prospectus
supplement to an amount that would fully amortize the mortgage
loan over
its remaining term on a level debt service basis; provided that
increases
in the scheduled monthly payment may be subject to limitations
as
specified in the related prospectus supplement. Any Deferred
Interest will
be added to the principal balance of the mortgage
loan;
|
· |
Fixed-rate,
graduated payment mortgage loans having original or modified
terms to
maturity of not more than approximately 40 years with monthly
payments
during the first year calculated on the basis of an assumed interest
rate
which is a specified percentage below the mortgage rate on the
mortgage
loan. Monthly payments on these mortgage loans increase at the
beginning
of the second year by a specified percentage of the monthly payment
during
the preceding year and each year thereafter to the extent necessary
to
amortize the mortgage loan over the remainder of its approximately
40-year
term. Deferred Interest, if any, will be added to the principal
balance of
these mortgage loans;
|
· |
Fixed-rate,
graduated payment mortgage loans having original or modified
terms to
maturity of not more than approximately 40 years with monthly
payments
during the first year calculated on the basis of an assumed interest
rate
which is a specified percentage below the mortgage rate on the
mortgage
loan. Monthly payments on these mortgage loans increase at the
beginning
of the second year by a specified percentage of the monthly payment
during
the preceding year and each year thereafter to the extent necessary
to
fully amortize the mortgage loan over the remainder of its approximately
40-year term. Deferred Interest, if any, will be added to the
principal
balance of these mortgage loans;
|
· |
Balloon
loans having payment terms similar to those described in one
of the
preceding paragraphs, calculated on the basis of an assumed amortization
term, but providing for a balloon payment of all outstanding
principal and
interest to be made at the end of a specified term that is shorter
than
the assumed amortization term.
|
· |
Mortgage
loans that provide for a line of credit pursuant to which amounts
may be
advanced to the borrower from time to
time;
|
· |
Mortgage
loans that require that each monthly payment consist of an installment
of
interest which is calculated according to the simple interest
method. This
method calculates interest using the outstanding principal balance
of the
mortgage loan multiplied by the loan rate and further multiplied
by a
fraction, the numerator of which is the number of days in the
period
elapsed since the preceding payment of interest was made and
the
denominator of which is the number of days in the annual period
for which
interest accrues on the mortgage loan. As payments are received
on simple
interest mortgage loans, the amount received is applied first
to interest
accrued to the date of payment and the balance is applied to
reduce the
unpaid principal balance of the mortgage loan;
or
|
· |
Mortgage
loans which provide for an interest only period and do not provide
for the
payment of principal for the number of years specified in the
related
prospectus supplement.
|
· |
funds
contributed by the seller of the mortgaged property or another
source and
placed in a custodial account,
|
· |
if
funds contributed by the seller are contributed on a present
value basis,
investment earnings on these funds,
or
|
· |
additional
funds to be contributed over time by the mortgagor’s employer or another
source.
|
· |
the
aggregate principal balance of the mortgage
loans,
|
· |
the
type of property securing the mortgage
loans,
|
· |
the
original or modified terms to maturity of the mortgage
loans,
|
· |
the
range of principal balances of the mortgage loans at origination
or
modification,
|
· |
the
earliest origination or modification date and latest maturity
date of the
mortgage loans,
|
· |
the
Loan-to-Value Ratios of the mortgage
loans,
|
· |
the
mortgage rate or range of mortgage rates borne by the mortgage
loans,
|
· |
if
any of the mortgage loans are ARM Loans, the applicable Index,
the range
of Note Margins and the weighted average Note
Margin,
|
· |
the
geographical distribution of the mortgage
loans,
|
· |
the
percentage of buydown mortgage loans, if applicable,
and
|
· |
the
percent of ARM Loans which are convertible to fixed-rate mortgage
loans,
if applicable.
|
· |
with
respect to each mortgage loan other than a Contract or a cooperative
mortgage loan, if required, (A) a title insurance policy, binder,
or other
assurance of title customary in the relevant jurisdiction insuring
(subject only to permissible title insurance exceptions) the
lien status
of the mortgage was effective at the origination of the mortgage
loan and
the policy remained in effect on the date of purchase of the
mortgage loan
from the Seller by the depositor, (B) if the mortgaged property
securing
the mortgage loan is located in an area where these policies
are generally
not available, there is in the related mortgage file an attorney’s
certificate of title indicating (subject to permissible exceptions
set
forth therein) the lien status of the mortgage or (C) with respect
to a
mortgage loan which is a refinanced mortgage loan, a title search
was done
by the Seller or some other type of “short-form” title insurance was
obtained;
|
· |
the
Seller has good title to the mortgage loan and the mortgage loan
was
subject to no offsets, defenses or counterclaims except as may
be provided
under the Relief Act and except to the extent that any buydown
agreement
exists for a buydown mortgage loan;
|
· |
there
are no mechanics’ liens or claims for work, labor or material affecting
the related mortgaged property which are, or may be a lien prior
to, or
equal with, the lien of the related mortgage (subject only to
permissible
title insurance exceptions);
|
· |
the
mortgage loan constituted a valid first or other applicable lien
on, or a
perfected security interest with respect to, the mortgaged property
(subject only to permissible title insurance exceptions, if applicable,
and certain other exceptions described in the Agreement) and
the related
mortgaged property is free from damage and in good
repair;
|
· |
there
are no delinquent tax or assessment liens against the related
mortgaged
property;
|
· |
the
mortgage loan is not more than 90 days delinquent as to any scheduled
payment of principal and/or interest;
and
|
· |
to
the best of the Seller’s knowledge, each mortgage loan at the time it was
made complied in all material respects with applicable federal,
state and
local laws, including, without limitation, usury, equal credit
opportunity, disclosure and recording laws; and, to the best
of the
Seller’s knowledge, each mortgage loan has been serviced in all material
respects in accordance with applicable federal, state and local
laws,
including, without limitation, usury, equal credit opportunity,
disclosure
and recording laws and the terms of the related mortgage note,
the
mortgage and other loan documents.
|
· |
have
an outstanding principal balance, after deduction of the principal
portion
of the monthly payment due in the month of substitution, not
in excess of
the outstanding principal balance of the Deleted Mortgage Loan
(the amount
of any shortfall to be deposited in the Distribution Account
by the
related Seller or the master servicer in the month of substitution
for
distribution to the
securityholders),
|
· |
have
a mortgage rate and a Net Mortgage Rate not less than (and not
materially
greater than) the mortgage rate and Net Mortgage Rate, respectively,
of
the Deleted Mortgage Loan as of the date of
substitution,
|
· |
have
a Loan-to-Value Ratio at the time of substitution no higher than
that of
the Deleted Mortgage Loan at the time of
substitution,
|
· |
have
a remaining term to maturity not materially earlier or later
than (and not
later than the latest maturity date of any mortgage loan) that
of the
Deleted Mortgage Loan, and
|
· |
comply
with all of the representations and warranties made by the Seller
as of
the date of substitution.
|
· |
the
mortgage loans (and the related mortgage documents) or interests
therein
underlying a particular series of securities as from time to
time are
subject to the pooling and servicing agreement or servicing agreement,
exclusive of, if specified in the related prospectus supplement,
any
interest retained by the depositor or any of its affiliates with
respect
to each mortgage loan;
|
· |
all
payments and collections in respect of the mortgage loans due
after the
related cut-off date, as from time to time are identified as
deposited in
respect thereof in the related Protected Account, Distribution
Account or
any other account established pursuant to the Agreement as described
below;
|
· |
any
property acquired in respect of mortgage loans in the issuing
entity,
whether through foreclosure of a mortgage loan or by deed in
lieu of
foreclosure;
|
· |
hazard
insurance policies, Primary Insurance Policies, FHA insurance
policies and
VA guarantees, if any, maintained in respect of mortgage loans
in the
issuing entity and the proceeds of these
policies;
|
· |
U.S.
Government Securities;
|
· |
the
rights of the depositor under any mortgage loan purchase agreement,
including in respect of any representations and warranties therein;
and
|
· |
any
combination, as and to the extent specified in the related prospectus
supplement, of a financial guaranty insurance policy, mortgage
pool
insurance policy, letter of credit, special hazard insurance
policy, or
currency or interest rate exchange agreements as described under
“Description of Credit
Enhancement”.
|
Accretion
Directed
|
A
class of securities designated to receive principal payments
primarily
from the interest that accrues on specified Accrual
Classes.
|
Accrual
|
A
class of securities where the accrued interest otherwise payable
to such
certificates is allocated to specified classes of certificates
as
principal payments in reduction of their certificate principal
balance.
The certificate principal balance of the Accrual Class will be
increased
to the extent such accrued interest is so allocated.
|
Companion
|
A
class that receives principal payments on any distribution date
only if
scheduled payments have been made on specified planned principal
classes,
targeted principal classes or scheduled principal
classes.
|
Component
|
A
class consisting of “components.” The components of a class of component
securities may have different principal and/or interest payment
characteristics but together constitute a single class. Each
component of
a class of component securities may be identified as falling
into one or
more of the categories in this list.
|
Fixed
Rate
|
A
class with an interest rate that is fixed throughout the life
of the
class.
|
Floating
Rate
|
A
class that receives interest payments based on an interest rate
that
fluctuates each payment period based on a designated index, which
will be
of a type that is customarily used in the debt and fixed income
markets to
measure the cost of borrowed funds, plus a specified
margin.
|
Interest
Only or IO
|
A
class of securities with no principal balance and which is not
entitled to
principal payments. Interest usually accrues based on a specified
notional
amount.
|
Inverse
Floating Rate
|
A
class of securities where the pass-through rate adjusts based
on the
excess between a specified rate and LIBOR or another index, which
will be
of a type that is customarily used in the debt and fixed income
markets to
measure the cost of borrowed funds.
|
Lock
Out
|
A
class of securities which is “locked out” of certain payments, usually
principal, for a specified period of time.
|
Partial
Accrual
|
A
class that accretes a portion of the amount of accrued interest
thereon,
which amount will be added to the principal balance of such class
on each
applicable distribution date, with the remainder of such accrued
interest
to be distributed currently as interest on such class. Such accretion
may
continue until a specified event has occurred or until such Partial
Accrual class is retired.
|
Principal
Only
|
A
class of securities which is not entitled to interest
payments.
|
Planned
Amortization Class or PAC
|
A
class of securities with a principal balance that is reduced
based on a
schedule of principal balances, assuming a certain range of prepayment
rates on the underlying assets.
|
Scheduled
Principal
|
A
class that is designed to receive principal payments using a
predetermined
principal balance schedule but is not designated as a Planned
Principal
Class or Targeted Principal Class. In many cases, the schedule
is derived
by assuming two constant prepayment rates for the underlying
assets. These
two rates are the endpoints for the “structuring range” for the scheduled
principal class.
|
Senior
Support
|
A
class that absorbs the realized losses other than excess losses
that would
otherwise be allocated to a Super Senior Class after the related
classes
of subordinated securities are no longer outstanding.
|
Sequential
Pay
|
Classes
that receive principal payments in a prescribed sequence, that
do not have
predetermined principal balance schedules and that under all
circumstances
receive payments of principal continuously from the first distribution
date on which they receive principal until they are retired.
A single
class that receives principal payments before or after all other
classes
in the same series of securities may be identified as a sequential
pay
class.
|
Super
Senior
|
A
class that will not bear its proportionate share of realized
losses (other
than excess losses) as its share is directed to another class,
referred to
as the “support class” until the class principal balance of the support
class is reduced to zero.
|
Target
Amortization or TAC
|
A
class of securities with a principal balance that is reduced
based on a
scheduled of principal balances, assuming a certain targeted
rate of
prepayments on the related collateral.
|
Variable
Rate
|
A
class with an interest rate that resets periodically and is calculated
by
reference to the rate or rates of interest applicable to specified
assets
or instruments (e.g., the Loan Rates borne by the underlying
loans).
|
· |
borrowing
through Clearstream or Euroclear System for one day (until the
purchase
side of the trade is reflected in their Clearstream or Euroclear
System
accounts) in accordance with the clearing system’s customary
procedures;
|
· |
borrowing
the Global Securities in the U.S. from a DTC participant no later
than one
day prior to settlement, which would give the Global Securities
sufficient
time to be reflected in their Clearstream or Euroclear System
account in
order to settle the sale side of the trade;
or
|
· |
staggering
the value dates for the buy and sell sides of the trade so that
the value
date for the purchase from the DTC participant is at least one
day prior
to the value date for the sale to the Clearstream participant
or Euroclear
System participant.
|
· |
the
mortgage note endorsed, without recourse, either in blank or
to the order
of the trustee (or its nominee),
|
· |
the
mortgage with evidence of recording indicated on the mortgage
(except for
any mortgage not returned from the public recording office) or,
in the
case of a cooperative mortgage loan, on the related financing
statement,
|
· |
an
assignment of the mortgage in blank or to the trustee (or its
nominee) in
recordable form (or, with respect to a cooperative mortgage loan,
an
assignment of the respective security agreements, any applicable
UCC
financing statements, recognition agreements, relevant stock
certificates,
related blank stock powers and the related proprietary leases
or occupancy
agreements),
|
· |
any
intervening assignments of the mortgage with evidence of recording
on the
assignment (except for any assignment not returned from the public
recording office),
|
· |
if
applicable, any riders or modifications to the mortgage note
and
mortgage,
|
· |
if
the mortgage loan is secured by additional collateral, certain
security
and assignment documents relating to the pledge of the additional
collateral, and
|
· |
any
other documents set forth in the related pooling and servicing
agreement,
mortgage loan purchase agreement or servicing
agreement.
|
· |
the
original Contract endorsed, without recourse, to the order of
the
trustee,
|
· |
copies
of documents and instruments related to the Contract and the
security
interest in the Manufactured Home securing the Contract,
and
|
· |
a
blanket assignment to the trustee of all Contracts in the related
issuing
entity and the related documents and
instruments.
|
· |
all
payments on account of principal, including principal prepayments,
on the
mortgage loans;
|
· |
all
payments on account of interest on the mortgage loans, including
any
default interest collected, in each case net of any portion thereof
retained by the master servicer, any servicer, or any special
servicer as
its servicing compensation or as compensation to the trustee,
and further
net of any retained interest of the
depositor;
|
· |
all
Insurance Proceeds and Liquidation
Proceeds;
|
· |
any
amounts paid under any instrument or drawn from any fund that
constitutes
credit enhancement for the related series of securities as described
under
“Description of Credit
Enhancement”;
|
· |
any
advances made as described under “—Advances”
below;
|
· |
any
Buydown Funds (and, if applicable, investment earnings on the
Buydown
Funds) required to be paid to securityholders, as described
below;
|
· |
any
amounts paid by the master servicer and the servicers to cover
Prepayment
Interest Shortfalls arising out of the prepayment of mortgage
loans as
described under “Servicing of Mortgage Loans—Servicing and Other
Compensation and Payment of Expenses; Retained
Interest”;
|
· |
to
the extent that any item does not constitute additional servicing
compensation to the master servicer, a servicer or a special
servicer, any
payments on account of modification or assumption fees, late
payment
charges or prepayment premiums on the mortgage
loans;
|
· |
any
amount required to be deposited by the master servicer or the
trustee in
connection with losses realized on investments for the benefit
of the
master servicer or the trustee, as the case may be, of funds
held in the
Distribution Account; and
|
· |
any
other amounts required to be deposited in the Distribution Account
as
provided in the related pooling and servicing agreement or the
related
servicing agreement and indenture and described in this prospectus
or in
the related prospectus supplement.
|
(1) |
to
make distributions to the related securityholders on each distribution
date;
|
(2) |
to
reimburse the master servicer, any servicer or any other specified
person
for unreimbursed amounts advanced by it in respect of mortgage
loans in
the issuing entity as described under “—Advances” below, these
reimbursements to be made out of amounts received which were
identified
and applied by the master servicer or a servicer as late collections
of
interest (net of related servicing fees) on and principal of
the
particular mortgage loans with respect to which the advances
were made or
out of amounts drawn under any form of credit enhancement with
respect to
the mortgage loans;
|
(3) |
to
reimburse the master servicer, a servicer or a special servicer
for unpaid
servicing fees earned by it and some unreimbursed servicing expenses
incurred by it with respect to mortgage loans in the issuing
entity and
properties acquired in respect thereof, these reimbursement to
be made out
of amounts that represent Liquidation Proceeds and Insurance
Proceeds
collected on the particular
|
mortgage
loans and properties, and net income
collected on the particular properties, with respect to which
the fees
were earned or the expenses were incurred or out of amounts
drawn under
any form of credit enhancement with respect to the mortgage
loans and
properties;
|
(4) |
to
reimburse the master servicer, a servicer or any other specified
person
for any advances described in clause (2) above made by it and
any
servicing expenses referred to in clause (3) above incurred by
it which,
in the good faith judgment of the master servicer, the applicable
servicer
or the other person, will not be recoverable from the amounts
described in
clauses (2) and (3), respectively, the reimbursement to be made
from
amounts collected on other mortgage loans in the issuing entity
or, if and
to the extent so provided by the related pooling and servicing
agreement
or the related servicing agreement and indenture and described
in the
related prospectus supplement, only from that portion of amounts
collected
on the other mortgage loans that is otherwise distributable on
one or more
classes of subordinate securities of the related
series;
|
(5) |
if
and to the extent described in the related prospectus supplement,
to pay
the master servicer, a servicer, a special servicer or another
specified
entity (including a provider of credit enhancement) interest
accrued on
the advances described in clause (2) above made by it and the
servicing
expenses described in clause (3) above incurred by it while these
remain
outstanding and unreimbursed;
|
(6) |
to
reimburse the master servicer, a servicer, the depositor, or
any of their
respective directors, officers, employees and agents, as the
case may be,
for expenses, costs and liabilities incurred thereby, as and
to the extent
described under “The Agreements—Certain Matters Regarding the Master
Servicer and the Depositor”;
|
(7) |
if
and to the extent described in the related prospectus supplement,
to pay
the fees of the trustee;
|
(8) |
to
reimburse the trustee or any of its directors, officers, employees
and
agents, as the case may be, for expenses, costs and liabilities
incurred
thereby, as and to the extent described under “The Agreements—Certain
Matters Regarding the Trustee”;
|
(9) |
to
pay the master servicer or the trustee, as additional compensation,
interest and investment income earned in respect of amounts held
in the
Distribution Account;
|
(10) |
to
pay (generally from related income) the master servicer, a servicer
or a
special servicer for costs incurred in connection with the operation,
management and maintenance of any mortgaged property acquired
by the
issuing entity by foreclosure or by deed in lieu of
foreclosure;
|
(11) |
if
one or more elections have been made to treat the issuing entity
or
designated portions thereof as a REMIC, to pay any federal, state
or local
taxes imposed on the issuing entity or its assets or transactions,
as and
to the extent described under “Federal Income Tax
Consequences—REMICS—Prohibited Transactions and Other Possible REMIC
Taxes”;
|
(12) |
to
pay for the cost of an independent appraiser or other expert
in real
estate matters retained to determine a fair sale price for a
defaulted
mortgage loan or a property acquired in respect thereof in connection
with
the liquidation of the mortgage loan or
property;
|
(13) |
to
pay for the cost of various opinions of counsel obtained pursuant
to the
related pooling and servicing agreement or the related servicing
agreement
and indenture for the benefit of the related
securityholders;
|
(14) |
to
pay to itself, the depositor, a Seller or any other appropriate
person all
amounts received with respect to each mortgage loan purchased,
repurchased
or removed from the issuing entity pursuant to the terms of the
related
pooling and servicing agreement or the related servicing agreement
and
indenture and not required to be distributed as of the date on
which the
related purchase price is
determined;
|
(15) |
to
make any other withdrawals permitted by the related pooling and
servicing
agreement or the related servicing agreement and indenture and
described
in the related prospectus
supplement;
|
(16) |
to
pay for costs and expenses incurred by the issuing entity for
environmental site assessments performed with respect to multifamily
or
commercial properties that constitute security for defaulted
mortgage
loans, and for any containment, clean-up or remediation of hazardous
wastes and materials present on that mortgaged properties, as
described
under “Servicing of Mortgage Loans—Realization Upon or Sale of Defaulted
Mortgage Loans”; and
|
(17) |
to
clear and terminate the Distribution Account upon the termination
of the
issuing entity.
|
· |
the
applicable record dates, accrual periods, determination dates
for
calculating distributions and general distribution
dates;
|
· |
the
total cash flows received and the general sources
thereof;
|
· |
the
amount, if any, of fees or expenses accrued and paid, with an
identification of the payee and the general purpose of such
fees;
|
· |
the
amount, accrued or paid in respect of any credit enhancement
or other
support, including the payee and the general purpose of such
payment;
|
· |
the
amount, if any, of the distribution allocable to principal (by
class);
|
· |
the
amount, if any, of the distribution allocable to interest (by
class and
any shortfalls or carry-forwards);
|
· |
the
amount of, if any, of excess cash flow or excess spread and the
application of such excess cash
flow;
|
· |
interest
rates, as applicable, to the pool assets and
securities;
|
· |
the
beginning and ending balance of the reserve fund or similar account,
if
any, together with any material
activity;
|
· |
the
amounts drawn on any credit enhancement, or other support, and
the amount
of coverage remaining under any
enhancement;
|
· |
the
outstanding principal balance or notional amount of each class
after
giving effect to the distribution of principal on the distribution
date;
|
· |
number
and amount of pool assets, together with updated pool composition
information;
|
· |
the
aggregate amount of advances included in the distributions on
the
distribution date (including the general purpose of such advances),
the
aggregate amount of unreimbursed advances at the close of business
on the
distribution date, and the general source of funds for
reimbursements;
|
· |
if
applicable, material modifications, extensions or waivers to
pool asset
terms, fees, penalties or payments during the distribution period
or that
have become material over time;
|
· |
material
breaches of pool asset representation or warranties or transaction
covenants;
|
· |
information
on loss, delinquency or other tests used for determining early
amortization, liquidation, stepdowns or other performance triggers
as more
completely described in the prospectus supplement and whether
the trigger
was met;
|
· |
information
regarding any new issuance of securities backed by the same asset
pool,
any pool asset changes, such as additions or removals in connection
with a
prefunding and pool asset substitutions and repurchases, and
cash flows
available for future purchases, such as the balances of any prefunding,
if
applicable;
|
· |
any
material changes in the solicitation, credit-granting, underwriting,
origination, acquisition or pool selection criteria or procedures,
as
applicable, used to originate, acquire or select new pool
assets;
|
· |
the
number and aggregate principal balance of any mortgage loans
in the
related mortgage pool in respect of which (A) one scheduled payment
is
delinquent, (B) two scheduled payments are delinquent, (C) three
or more
scheduled payments are delinquent and (D) foreclosure proceedings
have
been commenced, and loss information for the period;
and
|
· |
the
Special Hazard Amount, Fraud Loss Amount and Bankruptcy Amount,
if
applicable, as of the close of business on the applicable distribution
date and a description of any change in the calculation of these
amounts.
|
· |
the
insured percentage of the Primary Insurance Covered
Loss;
|
· |
the
entire amount of the Primary Insurance Covered Loss, after receipt
by the
primary insurer of good and merchantable title to, and possession
of, the
mortgaged property; or
|
· |
at
the option of the primary insurer, the sum of the delinquent
monthly
payments plus any advances made by the insured, both to the date
of the
claim payment and, thereafter,
|
monthly
payments in the amount that would have become due under the
mortgage loan
if it had not been discharged plus any advances made by the
insured until
the earlier of (1) the date the mortgage loan would have been
discharged
in full if the default had not occurred or (2) an approved
sale.
|
· |
advance
or discharge (1) hazard insurance premiums and (2) as necessary
and
approved in advance by the primary insurer, real estate taxes,
protection
and preservation expenses and foreclosure and related
costs;
|
· |
in
the event of any physical loss or damage to the mortgaged property,
have
the mortgaged property restored to at least its condition at
the effective
date of the Primary Insurance Policy (ordinary wear and tear
excepted);
and
|
· |
tender
to the primary insurer good and merchantable title to, and possession
of,
the mortgaged property.
|
· |
any
failure by the master servicer to make a required deposit to
the
Distribution Account (other than a Monthly Advance) which continues
unremedied for 3 days (or other time period described in the
related
prospectus supplement) after the giving of written notice of
the failure
to the master servicer;
|
· |
any
failure by the master servicer to observe or perform in any material
respect any other of its material covenants or agreements in
the pooling
and servicing agreement with respect to the series of certificates,
which
covenants and agreements materially affect the rights of
certificateholders of such series, and which failure continues
unremedied
for a period of 60 days after the date on which written notice
of such
failure, properly requiring the same to be remedied, shall have
been given
to the master servicer by the trustee, or to the master servicer
and the
trustee by the holders of certificates evidencing not less than
25% of the
aggregate undivided interests (or, if applicable, voting rights)
in the
related issuing entity;
|
· |
events
of insolvency, readjustment of debt, marshaling of assets and
liabilities
or similar proceedings regarding the master servicer and some
actions by
the master servicer indicating its insolvency or inability to
pay its
obligations, as specified in the related pooling and servicing
agreement;
|
· |
any
failure of the master servicer to make advances as described
in this
prospectus under “Description of the Securities—Advances,” by the date and
time set forth in the pooling and servicing
agreement;
|
· |
any
assignment or delegation by the master servicer of its rights
and duties
under the pooling and servicing agreement, in contravention of
the
provisions permitting assignment and delegation in the pooling
and
servicing agreement; and
|
· |
any
other event of default as set forth in the pooling and servicing
agreement.
|
· |
any
failure by the master servicer to make a required deposit to
the
Distribution Account or, if the master servicer is so required,
to
distribute to the holders of any class of notes or Equity Certificates
of
the series any required payment which continues unremedied for
5 business
days (or other period of time described in the related prospectus
supplement) after the giving of written notice of the failure
to the
master servicer by the trustee or the issuing
entity;
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· |
any
failure by the master servicer duly to observe or perform in
any material
respect any other of its covenants or agreements in the servicing
agreement with respect to the series of securities which continues
unremedied for 45 days after the giving of written notice of
the failure
to the master servicer by the trustee or the issuing
entity;
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· |
events
of insolvency, readjustment of debt, marshaling of assets and
liabilities
or similar proceedings regarding the master servicer and some
actions by
the master servicer indicating its insolvency or inability to
pay its
obligations, as specified in the related servicing agreement;
and
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· |
any
other servicing default as set forth in the servicing
agreement.
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· |
a
default for five days or more (or other period of time described
in the
related prospectus supplement) in the payment of any principal
of or
interest on any note of the series;
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· |
failure
to perform any other covenant of the issuing entity in the indenture
which
continues for a period of thirty days after notice thereof is
given in
accordance with the procedures described in the related
indenture;
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· |
any
representation or warranty made by the issuing entity in the
indenture or
in any certificate or other writing delivered pursuant thereto
or in
connection therewith with respect to or affecting the series
having been
incorrect in a material respect as of the time made, and the
breach is not
cured within thirty days after notice thereof is given in accordance
with
the procedures described in the related
indenture;
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· |
events
of bankruptcy, insolvency, receivership or liquidation of the
issuing
entity, as specified in the related indenture;
or
|
· |
any
other event of default provided with respect to notes of that
series.
|
· |
to
cure any ambiguity,
|
· |
to
correct or supplement any provision therein which may be defective
or
inconsistent with any other provision
therein,
|
· |
if
a REMIC election has been made with respect to the related issuing
entity,
to modify, eliminate or add to any of its provisions (A) to the
extent as
shall be necessary to maintain the qualification of the issuing
entity as
a REMIC or to avoid or minimize the risk of imposition of any
tax on the
related issuing entity, provided that the trustee has received
an opinion
of counsel to the effect that (1) the action is necessary or
desirable to
maintain the qualification or to avoid or minimize the risk,
and (2) the
action will not adversely affect in any material respect the
interests of
any holder of certificates covered by the pooling and servicing
agreement,
or (B) to restrict the transfer of the REMIC Residual Certificates,
provided that the depositor has determined that the then-current
ratings
of the classes of the certificates that have been rated will
not be
adversely affected, as evidenced by a letter from each applicable
Rating
Agency, and that the amendment will not give rise to any tax
with respect
to the transfer of the REMIC Residual Certificates to a non-permitted
transferee,
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· |
to
make any other provisions with respect to matters or questions
arising
under the pooling and servicing agreement which are not materially
inconsistent with the provisions thereof, provided that the action
will
not adversely affect in any material respect the interests of
any
certificateholder, or
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· |
to
comply with any changes in the
Code.
|
(1) |
reduce
in any manner the amount of or delay the timing of, payments
received on
issuing entity assets which are required to be distributed on
any
certificate without the consent of the holder of the
certificate,
|
(2) |
adversely
affect in any material respect the interests of the holders of
any class
of notes in a manner other than as described in (1), without
the consent
of the holders of notes of the class evidencing not less than
66% of the
aggregate voting rights of the class
or
|
(3) |
reduce
the aforesaid percentage of voting rights required for the consent
to the
amendment without the consent of the holders of all notes covered
by the
Agreement then outstanding.
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· |
Except
in those states where the debtor must receive notice of the right
to cure
a default, repossession can commence immediately upon default
without
prior notice. Repossession may be effected either through self-help
(peaceable retaking without court order), voluntary repossession
or
through judicial process (repossession pursuant to court-issued
writ of
replevin). The self-help and/or voluntary repossession methods
are more
commonly employed, and are accomplished simply by retaking possession
of
the manufactured home. In cases in which the debtor objects or
raises a
defense to repossession, a court order must be obtained from
the
appropriate state court, and the manufactured home must then
be
repossessed in accordance with that order. Whether the method
employed is
self-help, voluntary repossession or judicial repossession, the
repossession can be accomplished either by an actual physical
removal of
the
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manufactured
home to a secure location for refurbishment and resale or by
removing the
occupants and their belongings from the manufactured home and
maintaining
possession of the manufactured home on the location where the
occupants
were residing. Various factors may affect whether the manufactured
home is
physically removed or left on location, such as the nature
and term of the
lease of the site on which it is located and the condition
of the unit. In
many cases, leaving the manufactured home on location is preferable,
in
the event that the home is already set up, because the expenses
of
retaking and redelivery will be saved. However, in those cases
where the
home is left on location, expenses for site rentals will usually
be
incurred.
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· |
Once
repossession has been achieved, preparation for the subsequent
disposition
of the manufactured home can commence. The disposition may be
by public or
private sale provided the method, manner, time, place and terms
of the
sale are commercially reasonable.
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· |
Sale
proceeds are to be applied first to repossession expenses (expenses
incurred in retaking, storage, preparing for sale to include
refurbishing
costs and selling) and then to satisfaction of the indebtedness.
While
some states impose prohibitions or limitations on deficiency
judgments if
the net proceeds from resale do not cover the full amount of
the
indebtedness, the remainder may be sought from the debtor in
the form of a
deficiency judgment in those states that do not prohibit or limit
deficiency judgments. The deficiency judgment is a personal judgment
against the debtor for the shortfall. Occasionally, after resale
of a
manufactured home and payment of all expenses and indebtedness,
there is a
surplus of funds. In that case, the UCC requires the party suing
for the
deficiency judgment to remit the surplus to the debtor. Because
the
defaulting owner of a manufactured home generally has very little
capital
or income available following repossession, a deficiency judgment
may not
be sought in many cases or, if obtained, will be settled at a
significant
discount in light of the defaulting owner’s strained financial
condition.
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· |
REMIC
Certificates representing interests in an issuing entity, or
a portion
thereof, that the REMIC Administrator will elect to have treated
as a
REMIC under the REMIC Provisions of the
Code,
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· |
notes
representing indebtedness of an issuing entity as to which no
REMIC
election will be made, and
|
· |
Grantor
Trust Certificates representing interests in a Grantor Trust
Fund as to
which no REMIC election will be
made.
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· |
the
United States, any State or political subdivision thereof, any
foreign
government, any international organization, or any agency or
instrumentality of the foregoing (but would not include instrumentalities
described in Section 168(h)(2)(D) of the Code or Freddie
Mac),
|
· |
any
organization (other than a cooperative described in Section 521
of the
Code) that is exempt from federal income tax, unless it is subject
to the
tax imposed by Section 511 of the
Code,
|
· |
any
organization described in Section 1381(a)(2)(C) of the Code,
or
|
· |
an
electing large partnership within the meaning of Section 775
of the
Code.
|
· |
PTCE
84-14, which exempts certain transactions approved on behalf
of the Plan
by a qualified professional asset
manager.
|
· |
PTCE
86-128, which exempts certain transactions between a Plan and
certain
broker-dealers.
|
· |
PTCE
90-1, which exempts certain transactions entered into by insurance
company
pooled separate accounts in which Plans have made
investments.
|
· |
PTCE
91-38, which exempts certain transactions entered into by bank
collective
investment funds in which Plans have made
investments.
|
· |
PTCE
96-23, which exempts certain transaction approved on behalf of
a Plan by
an in-house investment manager.
|
· |
PTCE
95-60, which exempts certain transactions involving insurance
company
general accounts.
|
· |
PTCE
83-1, which exempts certain transactions involving the purchase
of
pass-through certificates in mortgage pool investment trusts
from, and the
sale of such certificates to, the pool sponsor, as well as transactions
in
connection with the servicing and operation of the
pool.
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· |
the
depositor and the trustee maintain a system of insurance or other
protection for the mortgage loans and the property securing such
mortgage
loans, and for indemnifying holders of certificates against reductions
in
pass-through payments due to defaults in loan payments or property
damage
in an amount at least equal to the greater of 1% of the aggregate
principal balance of the mortgage loans, or 1% of the principal
balance of
the largest covered pooled mortgage
loan;
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· |
the
trustee may not be an affiliate of the
depositor;
|
· |
and
the payments made and retained by the depositor in connection
with the
issuing entity, together with all funds inuring to the depositor’s benefit
for administering the issuing entity, represent no more than
“adequate
consideration” for selling the mortgage loans, plus reasonable
compensation for services provided to the issuing
entity.
|
· |
the
initial sale, exchange or transfer of certificates is expressly
approved
by an independent fiduciary who has authority to manage and control
those
Plan Assets being invested in
certificates;
|
· |
the
Plan pays no more for the certificates than would be paid in
an arm’s
length transaction;
|
· |
no
investment management, advisory or underwriting fee, sale commission,
or
similar compensation is paid to the depositor with regard to
the sale,
exchange or transfer of certificates to the
Plan;
|
· |
the
total value of the certificates purchased by such Plan does not
exceed 25%
of the amount issued; and
|
· |
at
least 50% of the aggregate amount of certificates is acquired
by persons
independent of the depositor, the trustee, the master servicer,
and the
special hazard insurer or pool
insurer.
|
· |
The
direct or indirect sale, exchange or transfer of securities in
the initial
issuance of securities between the depositor or an Underwriter
and a Plan
when the person who has discretionary authority or renders investment
advice with respect to the investment of Plan Assets in the securities
is:
|
(1) |
A
mortgagor with respect to 5% or less of the fair market value
of the
issuing entity assets or
|
(2) |
An
affiliate of such a person, provided that: (a) the Plan is not
an Excluded
Plan; (b) each Plan’s investment in each class of securities does not
exceed 25% of the outstanding securities in the class; (c) after
the
Plan’s acquisition of the securities, no more than 25% of the assets
over
which the fiduciary has investment authority are invested in
securities of
an issuing entity containing assets which are sold or serviced
by the same
entity; and (d) in the case of initial issuance (but not secondary
market
transactions), at least 50% of each class of securities and at
least 50%
of the aggregate interests in the issuing entity are acquired
by persons
independent of the Restricted Group;
|
· |
The
direct or indirect acquisition or disposition in the secondary
market of
securities by a Plan or with Plan assets provided that the conditions
in
(2)(a), (c) and (d) above are met; and
|
· |
The
continued holding of securities acquired by a Plan or with Plan
Assets in
an initial issuance or secondary market transaction meeting the
foregoing
requirements.
|
· |
as
mentioned, the ratio of the amount allocated to the pre-funding
account to
the total principal amount of the securities being offered must
be less
than or equal to 25%;
|
· |
all
additional mortgage loans transferred to the related issuing
entity after
the Closing Date must meet the same terms and conditions for
eligibility
as the original mortgage loans used to create the issuing entity,
which
terms and conditions have been approved by one of the Exemption
Rating
Agencies;
|
· |
the
transfer of the additional mortgage loans to the issuing entity
during the
Pre-Funding Period must not result in the securities to be covered
by the
Exemptions receiving a lower credit rating from an Exemption
Rating Agency
upon termination of the Pre-Funding Period than the rating that
was
obtained at the time of the initial issuance of the securities
by the
issuing entity;
|
· |
solely
as a result of the use of pre-funding, the weighted average annual
percentage interest rate for the mortgage loans included in the
related
issuing entity on the Closing Date and all additional mortgage
loans
transferred to the related issuing entity after the Closing Date
at the
end of the Pre-Funding Period must not be more than 100 basis
points lower
than the rate for the mortgage loans which were transferred to
the issuing
entity on the Closing Date;
|
· |
either:
|
· |
the
Pre-Funding Period must end no later than three months or 90
days after
the Closing Date or earlier in some circumstances if the pre-funding
accounts falls below the minimum level specified in the Agreement
or an
event of default occurs;
|
· |
amounts
transferred to any pre-funding accounts and/or capitalized interest
account used in connection with the pre-funding may be invested
only in
investments which are permitted by the Exemption Rating Agencies
rating
the securities and must:
|
· |
the
prospectus or prospectus supplement must describe the duration
of the
Pre-Funding Period;
|
· |
the
trustee (or any agent with which the trustee contracts to provide
trust
services) must be a substantial financial institution or trust
company
experienced in trust activities and familiar with its duties,
responsibilities and liabilities with ERISA. The trustee, as
legal owner
of the issuing entity, must enforce all the rights created in
favor of
securityholders of the issuing entity, including employee benefit
plans
subject to ERISA.
|
· |
By
negotiated firm commitment or best efforts underwriting and public
re-offering by underwriters;
|
· |
By
placements by the depositor with institutional investors through
dealers;
and
|
· |
By
direct placements by the depositor with institutional
investors.
|
You
should rely only on the information contained or incorporated by
reference
in this prospectus supplement and the accompanying prospectus. We
have not
authorized anyone to provide you with different
information.
|
We
are not offering the certificates in any state where the offer
is not
permitted. Dealers will be required to deliver a prospectus supplement
and
prospectus when acting as underwriters of the certificates offered
by this
prospectus supplement and with respect to their unsold allotments
or
subscriptions. In addition, all dealers selling the certificates,
whether
or not participating in this offering, may be required to deliver
a
prospectus supplement and prospectus for 90 days after the date
of this
prospectus supplement.
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