-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, F6UI80EbhXPoaTFbQUutnist998y3aXd0B2dDPaL3oMeKxy2h5fgOD0N2I2kyXKC JmG+hM/MCJbIPAUMRdHeQA== 0000905148-00-001189.txt : 20000519 0000905148-00-001189.hdr.sgml : 20000519 ACCESSION NUMBER: 0000905148-00-001189 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000518 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000518 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLAYTON HOMES INC CENTRAL INDEX KEY: 0000719547 STANDARD INDUSTRIAL CLASSIFICATION: MOBILE HOMES [2451] IRS NUMBER: 621671360 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08824 FILM NUMBER: 639672 BUSINESS ADDRESS: STREET 1: 500 CLAYTON ROAD CITY: MARYVILLE STATE: TN ZIP: 37804 BUSINESS PHONE: 4233803000 MAIL ADDRESS: STREET 1: PO BOX 15169 CITY: KNOXVILLE STATE: TN ZIP: 37912 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANDERBILT MORTGAGE & FINANCE INC CENTRAL INDEX KEY: 0000816512 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 620997810 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-80304 FILM NUMBER: 639673 BUSINESS ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 BUSINESS PHONE: 4233803000 MAIL ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 8-K 1 T:\EDGAR\TEDLOCKE\699820.TXT - ------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest Event Reported): May 18, 2000 VANDERBILT MORTGAGE AND FINANCE, INC. (as seller and servicer under the Pooling and Servicing Agreement, dated as of March 25, 2000, providing for the issuance of the Vanderbilt Mortgage and Finance, Inc., Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 2000B). CLAYTON HOMES, INC. VANDERBILT MORTGAGE AND FINANCE, INC. ----------------------------------------------------- (Exact name of registrant as specified in its charter) Clayton Homes, Inc. - Del. Vanderbilt - Tennessee 333-75405 62-0997810 - ------------------------------------------------------------------------ (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 500 Alcoa Trail Maryville, Tennessee 37804 - --------------------- --------- (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code (423) 380-3000 - --------------------------------------------------- Former Address: - --------------------------------------------------- Item 5. Other Events Filing of Computational Materials. In connection with the offering of the Vanderbilt Mortgage and Finance, Inc. ("Vanderbilt") Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 2000B, Credit Suisse First Boston Corporation and Prudential Securities Incorporated, as the underwriters of the Certificates (the "Underwriters") have provided certain materials (the "Computational Materials") for distribution to its potential investors. Although the Company provided the Underwriters with certain information regarding the characteristics of the Contracts in the related portfolio, it did not participate in the preparation of the Computational Materials. For purposes of this Form 8-K, Computational Materials shall mean computer generated tables and/or charts displaying, with respect to any Class or Classes of Certificates, any of the following: yield; average life; duration; expected maturity; interest rate sensitivity; loss sensitivity; cash flow characteristics; background information regarding the Contracts; the proposed structure; decrement tables; or similar information (tabular or otherwise) of a statistical, mathematical, tabular or computational nature. The Computational Materials provided by Credit Suisse First Boston Corporation and Prudential Securities Incorporated are attached hereto as Exhibits 99.1, respectively. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits: 99.1 Computational Materials - Credit Suisse First Boston Corporation and Prudential Securities Incorporated SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. VANDERBILT MORTGAGE AND FINANCE, INC. By /s/ David Jordan --------------------------------- Name: David Jordan Title: Secretary CLAYTON HOMES, INC. By /s/ Amber Krupacs ---------------------------------- Name: Amber Krupacs Title: Vice President Dated: May 18, 2000 Exhibit Index Exhibit 99.1 Computational Materials - Credit Suisse First Boston Corporation and Prudential Securities Incorporated SUBJECT TO REVISION - ------------------- SERIES TERM SHEET DATED MAY 16, 2000 - ------------------------------------ $345,519,981 Vanderbilt Mortgage and Finance, Inc. Seller and Servicer Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates, Series 2000-B Attached is a preliminary Series Term Sheet describing the structure, collateral pool and certain aspects of the Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates, Series 2000-B. The Series Term Sheet has been prepared by Vanderbilt Mortgage and Finance, Inc. for informational purposes only and is subject to modification or change. The information and assumptions contained therein are preliminary and will be superseded by a prospectus, prospectus supplement and by any other additional information subsequently filed with the Securities and Exchange Commission or incorporated by reference in the Registration Statement. Neither Credit Suisse First Boston Corporation, Prudential Securities Incorporated nor any of their respective affiliates makes any representation as to the accuracy or completeness of any of the information set forth in the attached Series Term Sheet. This cover sheet is not part of the Series Term Sheet. A Registration Statement (including a base prospectus) relating to the Pass-Through Certificates has been filed with the Securities and Exchange Commission and declared effective. The final Prospectus and Prospectus Supplement relating to the securities will be filed after the securities have been priced and all of the terms and information are finalized. This communication is not an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Interested persons are referred to the final Prospectus and Prospectus Supplement to which the securities relate. Any investment decision should be based only upon the information in the final Prospectus and Prospectus Supplement as of their publication dates. Credit Suisse First Boston Prudential Securities
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- PRELIMINARY INFORMATION ONLY Group I Offered Certificates Class IA-1 Class IA-2 Class IA-3 Class IA-4 Class IA-5 Class IM-1 Class IB-1 Class IB-2 Amount: $81,000,000 $50,000,000 $50,000,000 $47,722,000 $14,295,000 $11,437,000 $11,437,000 $20,015,411 Type: Adjustable Fixed Fixed Fixed Fixed Fixed Fixed Fixed Coupon: [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% Approx. Price [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% Yield (%): [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% [TBD]% Spread (bps): TBD TBD TBD TBD TBD TBD TBD TBD Avg Life (To Call): 1.09 3.08 5.23 9.71 12.60 9.06 6.17 10.71 Avg Life (To Mat): 1.09 3.08 5.23 9.77 15.80 9.61 6.17 13.33 1st Prin Pymt (To Call): 6/00 9/02 6/04 5/07 1/13 6/05 6/05 12/07 Last Prin Pymt (To Call): 9/02 6/04 5/07 1/13 1/13 1/13 12/07 1/13 Last Prin Pymt (To Mat): 9/02 6/04 5/07 2/14 11/18 11/18 12/07 10/28 Stated Mat: 8/08 7/12 5/17 3/25 12/27 12/27 12/15 10/28 Expected Settlement: 5/31/00 5/31/00 5/31/00 5/31/00 5/31/00 5/31/00 5/31/00 5/31/00 Payment Delay: 0 days 6 days 6 days 6 days 6 days 6 days 6 days 6 days Interest Payment Basis: ACT/360 30/360 30/360 30/360 30/360 30/360 30/360 30/360 Dated Date: 5/31/00 5/1/00 5/1/00 5/1/00 5/1/00 5/1/00 5/1/00 5/1/00 Ratings (Moody's/S&P): Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aa3/AA- A2/A Baa2/BBB Baa2/BBB Pricing Date: TBD TBD TBD TBD TBD TBD TBD TBD Prepayment Speed: 200% MHP 200% MHP 200% MHP 200% MHP 200% MHP 200% MHP 200% MHP 200% MHP
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 2
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Group II Offered Certificates Class IIA-1 Class IIB-1 Class IIB-2 Class IIB-3 Amount: $48,286,000 $4,471,000 $3,577,000 $3,279,570 Type: Adjustable Adjustable Adjustable Adjustable Coupon: [TBD]% [TBD]% [TBD]% [TBD]% Approx. Price [TBD]% [TBD]% [TBD]% [TBD]% Yield (%): [TBD]% [TBD]% [TBD]% [TBD]% Spread (bps): TBD TBD TBD TBD Avg Life (To Call): 4.02 6.23 9.38 12.47 Avg Life (To Mat): 4.19 6.23 9.38 14.87 1st Prin Pymt (To Call): 6/00 6/05 2/08 11/11 Last Prin Pymt (To Call): 1/13 2/08 11/11 1/13 Last Prin Pymt (To Mat): 10/18 2/08 11/11 8/20 Stated Mat: 1/22 4/20 4/21 6/22 Expected Settlement: 5/31/00 5/31/00 5/31/00 5/31/00 Payment Delay: 0 days 0 days 0 days 0 days Interest Payment Basis: ACT/360 ACT/360 ACT/360 ACT/360 Dated Date: 5/31/00 5/31/00 5/31/00 5/31/00 Ratings (Moody's/S&P): Aaa/AAA Aa3/AA- Baa2/BBB Baa2/BBB Pricing Date: TBD TBD TBD TBD Prepayment Speed: 250% MHP 250% MHP 250% MHP 250% MHP
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 3
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Title of Securities: Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B Class IA-1, Class IA-2, Class IA-3, Class IA-4, Class IA-5, Class IM-1, Class IB-1 and Class IB-2 Fixed-Rate Group Certificates and Class IIA-1, Class IIB-1, Class IIB-2 and Class IIB-3 Adjustable-Rate Group Certificates Seller: Vanderbilt Mortgage and Finance, Inc. Servicer: Vanderbilt Mortgage and Finance, Inc. Underwriters: Credit Suisse First Boston Corporation (lead) Prudential Securities Incorporated (co) Trustee: The Chase Manhattan Bank Credit Enhancement: 1) Excess interest 2) Over-Collateralization 3) Cross-Collateralization 4) Subordination 5) Limited Guarantee of Clayton Homes, Inc. (Class I B-2 and Class II B-3 only) Excess Interest: Excess interest cashflows from each group will be available as credit enhancement for the related group. Overcollateralization: The credit enhancement provisions of the Trust are intended to provide for the limited acceleration of the senior Certificates relative to the amortization of the related collateral, generally in the early months of the transaction. Accelerated amortization is achieved by applying excess servicing and the servicing fee (while VMF is the servicer) collected on the collateral to the payment of principal on the Senior Certificates, resulting in the build up of overcollateralization ("O/C"). By paying down the principal balance of the certificates faster than the principal amortization of the respective collateral pool, an O/C amount equal to the excess of the aggregate principal balance of the collateral pool over the principal balance of the related Certificates is created. Excess cashflow will be directed to build the O/C amount until the pool reaches its required O/C target. Upon this event the acceleration feature will cease, unless it is once again necessary to maintain the required O/C level. FIXED RATE GROUP CERTIFICATES N/A ADJUSTABLE RATE GROUP CERTIFICATES Initial Deposit: [ 0.0%] Target: [3.5%] These O/C percentages are subject to step-downs beginning in month [61] if the Subordinate Class Principal distribution tests are met. Cross- Collateralization: Excess spread from each of the two collateral groups, if not needed to credit enhance its own group will be available to credit enhance the other group.
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 4
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Subordination: Class IA-1 - IA-4 Class IIA-1 Aaa/AAA 20.00% 22.50% Class IA-5 Class IIB-1 Aa3/AA- 15.00% 15.00% Class IM-1 A2/A 11.00% N/A Class IB-1 Class IIB-2 Baa2/BBB 7.00% 9.00% Class IB-2 Baa2/BBB Class IIB-3 (Corp. GTY) 3.50% Class Sizes: Class IA-1 - IA-4 Class IIA-1 Aaa/AAA 80.00% 81.00% Class IA-5 Class IIB-1 Aa3/AA- 5.00% 7.50% Class IM-1 A2/A 4.00% N/A Class IB-1 Class IIB-2 Baa2/BBB 4.00% 6.00% Class IB-2 Baa2/BBB Class IIB-3 (Corp. GTY) 7.00% 5.50% O/C 0.00% 0.00%-3.50%
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 5
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- GROUP I CERTIFICATES Total Group Size: $285,906,411 (approximate) Class IA-1 Remittance Rate: The Class I A-1 Pass Through Rate will equal the lesser of: i) One Month LIBOR plus [TBD%] and ii) the weighted average gross coupon of the contracts less the 1.25% servicing fee (if Vanderbilt is no longer the servicer). Maximum Rate: Remittance rates on the Group I Certificates are subject to a maximum rate equal to (a) the weighted average contract rate of the Group I contracts less (b) if Vanderbilt is no longer the servicer, the servicing fee of [1.25%]. Servicing Fee: For as long as Vanderbilt is the servicer, the servicing fee of [1.25]% per annum is subordinate to the Offered Certificates on a monthly basis. Cashflow Priority: PRICING BASE CASE CLASS I M-1 AND CLASS B DISTRIBUTION TEST IS MET 1) Current interest and any previously unreimbursed interest to Classes I A-1 through I A-4; 2) Senior percentage of principal payments sequentially to Classes I A-1, I A-2, I A-3, and I A-4 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class I A-5 Certificates; 4) Senior percentage of principal payments to Class I A-5 until such class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class I M-1 Certificates; 6) Mezzanine percentage of principal payments to Class I M-1 until such class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class I B-1 Certificates; 8) Class I B percentage of principal payments to Class I B-1 until such class is reduced to zero; 9) Current interest and any previously unreimbursed interest to Class I B-2 Certificates; 10) Remainder of principal payments to Class I B-2 until such class is reduced to zero; 11) Excess cashflow to fund any Available Funds shortfall with respect to the Group II Certificates except the Net Funds Cap Carryover Amount; 12) Excess cashflow to the Class II A-1 to build O/C for the Group II Certificates. 13) As long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 14) Any remainder to the Class R Certificates. ----------------------------------------------------------------------------------------- | | | | | | | I A-1 | I A-2 | I A-3 | I A-4 | I A-5 | | | | | | | ----------------------------------------------------------------------------------------- | | I M-1 | | 5 YEARS -------------------------------------------------------------------------- | | I B-1 | I B-2 | -----------------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 6
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Cashflow Priority: CLASS I M-1 AND CLASS I B DISTRIBUTION TEST IS NOT MET: 1) Current interest and any previously unreimbursed interest to Classes I A-1 - I A-4 Certificates; 2) 100% of principal payments sequentially to Classes I A-1, I A-2, I A-3, and I A-4 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class I A-5 Certificates; 4) 100% of principal payments to Class I A-5 until such Class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class I M-1 Certificates; 6) 100% of principal payments to Class I M-1 until such Class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class I B-1 Certificates; 8) 100% of principal payments to Class I B-1 until such Class is reduced to zero; 9) Current interest and any previously unreimbursed interest to Class I B-2 Certificates; 10) 100% of principal payments to Class I B-2 until such Class is reduced to zero; 11) Excess cashflow to fund any Available Funds shortfall with respect to the Group II Certificates except the Net Funds Cap Carryover Amount; 12) Excess cashflow to the Class II A-1 to build O/C for the Group II Certificates. 13) So long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 14) Any remainder to the Class R Certificates. ----------------------------------------------------------------------------------------------- | | | | | | | | | | I A-1 | I A-2 | I A-3 | I A-4 | I A-5 | I M-1 | I B-1 | I B-2 | | | | | | | | | | ----------------------------------------------------------------------------------------------- THE CLASS I M-1 AND CLASS I B DISTRIBUTION TEST IS MET IF: 1) Remittance Date is on or after June 2005 2) Class I M-1 Percentage plus Class I B Percentage is at least 26.25% (which is 1.75 times the sum of the original Class I M-1 Percentage and the original Class I B Percentage). 3) Cumulative Realized Losses do not exceed [7]% for year 2005, [8]% for year 2006, and [9]% for year 2007 and beyond of the Original Principal Balance of the Group IContracts 4) Current Realized Loss Ratio does not exceed [2.75]% 5) Average 60 Day Delinquency Ratio does not exceed [5]% 6) Average 30 Day Delinquency Ratio does not exceed [7]% 7) Class I B-2 Principal Balance must not be less than [$5,718,128] (which represents approximately 2% of the Total Original Group I Pool Principal Balance).
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 7
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- GROUP II CERTIFICATES: Group II Total Group Size: $59,613,570 (approximate) Group II Remittance Rate: The Group II Remittance Rates will equal the lesser of: i) One Month LIBOR plus [TBD%] and ii) the Net Funds Cap as described herein. Coupon Step up: If the 10% Clean-Up Call is not exercised, the coupon on the Class Adjustable Rate Certificates : IIA-1 - shall increase to [2x] the respective margin IIB-1 - shall increase by an additional [50 BP] IIB-2 - shall increase by an additional [50 BP] IIB-3 - shall increase by an additional [50 BP] Net Funds Cap: The a) collateral WAC plus the O/C reduction amount less b) the the sum of i) if the OC is less than its target, [0.75]% spread cushion, and ii) if the Company is no longer the Servicer, [1.25]%. Net Funds Cap Carryover: If on any Payment Date the Group II Certificate interest distribution amount is less than the Group II Formula Rate (i.e. one-month LIBOR plus [TBD%], which is subject to a maximum equal to the Weighted Average Life Cap of the collateral), the amount of such shortfall and the aggregate of such shortfalls from previous payment dates together with accrued interest at the Formula Rate will be carried forward to the next Payment Date until paid.
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 8
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Cashflow Priority: PRICING BASE CASE CLASS II B DISTRIBUTION TEST IS MET: 1) Current interest and any previously unreimbursed interest to Class II A-1 Certificates; 2) Senior percentage of principal payments to Class II A-1 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class II B-1 Certificates; 4) Class II B percentage of principal payments to Class II B-1 until such class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class II B-2 Certificates; 6) The remainder of the Class II B percentage of principal payments to Class II B-2 until such class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class II B-3 Certificates; 8) The remainder of the principal payments to Class II B-3 until such class is reduced to zero; 9) Excess cashflow to the Class II A-1 to build O/C; 10) Excess cashflow to fund any Available Funds shortfall with respect to the Group I Certificates; 11) Excess cashflow up to the Net Funds Cap Carryover Amount to the applicable Certificateholders; 12) So long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 13) Any remainder to the Class R Certificates. ------------------------------------------------------- | | | II A-1 | | | ------------------------------------------------------- | | | | | | 5 YEARS | II B-1 | II B-2 | II B-3 | | | | | | -------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 9
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- CLASS II B DISTRIBUTION TEST IS NOT MET: 1) Current interest and any previously unreimbursed interest to Classes II A-1 Certificates; 2) 100% of principal payments sequentially to Class II A-1 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class II B-1 Certificates; 4) 100% of principal payments to Class II B-1 until such Class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class II B-2 Certificates; 6) 100% of principal payments to Class II B-2 until such Class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class II B-3 Certificates; 8) 100% of principal payments to Class II B-3 until such Class is reduced to zero; 9) Excess cashflow to the Class II A-1 to build O/C; 10) Excess cashflow to fund any Available Funds shortfall with respect to the Group I Certificates; 11) Excess cashflow up the New Funds Cap Carryover Amount to the applicable Certificateholders; 12) So long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 13) Any remainder to the Class R Certificates. --------------------------------------------------------------------------------- | | | | | | II A-1 | II B-1 | II B-2 | II B-3 | | | | | | --------------------------------------------------------------------------------- Class II B Distribution Test: The Class II B Distribution Test is met if 1) Remittance Date is on or after June 2005 2) Class II B Percentage + O/C is at least [50.0%] 3) Cumulative Realized Losses do not exceed [7]% for year 2005 , [8]% for year 2006, and [9]% for year 2007 and beyond of the Original Principal Balance of the Group II Contracts 4) Current Realized Loss Ratio does not exceed [2.75]% 5) Average 60 Day Delinquency Ratio does not exceed [5]% 6) Average 30 Day Delinquency Ratio does not exceed [7]% 7) Sum of Class II B-3 Principal Balance + O/C must not be less than [$1,192,271] (which represents approximately 2% of the Total Original Group II Pool Principal Balance). Cleanup Call: The Servicer may call the Certificates at par plus accrued interest after the aggregate remaining pool balance of both Groups is less than 10% of the Cut-off Date pool principal balance. Payment Date: The 7th day of each month or, if such day is not a business day, the next succeeding business day, beginning in June 2000. Interest Accrual: Interest will accrue from the 1st day of the preceding month until the 30th day of the preceding month for the Class I A-2, I A-3, I A-4, I A-5, I M-1, I B-1 and I B-2 certificates. For the Class I A-1 certificates and the Group II Certificates, interest will accrue from the 7th day of the preceding month until the 6th day of the current month. For the first payment date, interest will accrue from the closing date to the first Payment Date for the class I A-1 certificates and the Group II Certificates. For the Class I A-1 certificates, and the Group II Certificates, interest is calculated using an actual/360 day count. For the remainder of the certificate classes, interest is calculated using a 30/360 day count.
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 10
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- ERISA Considerations: The Class I A-1, I A-2, I A-3, and I A-4 Certificates and the Class II A-1 will be ERISA eligible. The Class I A-5, Class I M-1, I B-1 and I B-2 Certificates and the Class II B-1, II B-2, and II B-3 are not ERISA eligible. However, investors should consult with their counsel with respect to the consequences under ERISA and the Code of the Plan's acquisition and ownership of such Certificates. SMMEA Considerations: The Class II A-1 and II B-1 Certificates will constitute "mortgage related securities" under the Secondary Mortgage Market Enhancement Act of 1984 "SMMEA". Prospectus: The Certificates are being offered pursuant to a Prospectus which includes a Prospectus Supplement (together, the "Prospectus"). Complete information with respect to the Certificates and the Collateral is contained in the Prospectus. The foregoing is qualified in its entirety by the information appearing in the Prospectus. To the extent that the foregoing is inconsistent with the Prospectus, the Prospectus shall govern in all respects. Sales of the Certificates may not be consummated unless the purchaser has received the Prospectus. Further Information: Call the ABS trading desk at (212)325-2747, John Herbert at (212)325-2412, Susan Menkhaus at (212)325-3475 or Mimi Huang at (212)325-1251 with questions. Group I Group II Type of Collateral: FIXED ARM Amount: $285,906,411.28 $59,613,570.25 Average Unpaid Prin. Balance: $33,462.83 $45,786.15 Maximum Original Balance: $250,000.00 $133,656.00 WAC: 11.353% 10.008% Coupon Range: 7.990% - 18.000% 7.990% - 16.490% WAM: 231 261 Weighted Average Original Term: 244 262 WA LTV: 85.738% 85.144% New: 64.60% 97.72% Used: 35.40% 2.28% Single: 51.14% 34.46% Multi: 39.32% 65.54% Site Built: 9.54% 0.00%
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 11
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ------------------------------------------------------------------------------- Projected Available Funds Cap of GROUP II: (GROSS COUPON - [75]bp CARVE-OUT, using 30/360 Day Count) * Assuming VMF is the servicer Bond Bond Period Date Coupon Paid 1 6/7/2000 9.258 2 7/7/2000 9.258 3 8/7/2000 10.008 4 9/7/2000 10.008 5 10/7/2000 10.008 6 11/7/2000 10.008 7 12/7/2000 10.008 8 1/7/2001 10.008 9 2/7/2001 10.008 10 3/7/2001 10.008 11 4/7/2001 10.334 12 5/7/2001 10.792 13 6/7/2001 11.545 14 7/7/2001 11.545 15 8/7/2001 11.545 16 9/7/2001 11.545 17 10/7/2001 11.545 18 11/7/2001 11.545 19 12/7/2001 11.545 20 1/7/2002 11.545 21 2/7/2002 11.545 22 3/7/2002 11.545 23 4/7/2002 11.779 24 5/7/2002 12.178 25 6/7/2002 12.934 26 7/7/2002 12.934 27 8/7/2002 12.934 28 9/7/2002 12.934 29 10/7/2002 12.934 30 11/7/2002 12.934 31 12/7/2002 12.934 32 1/7/2003 12.934 33 2/7/2003 12.934 34 3/7/2003 12.934 35 4/7/2003 12.934 36 5/7/2003 12.934 37 6/7/2003 13.118 38 7/7/2003 13.118 39 8/7/2003 13.118 40 9/7/2003 13.118 41 10/7/2003 13.118 42 11/7/2003 13.118 43 12/7/2003 13.118 44 1/7/2004 13.118 45 2/7/2004 13.118
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 12
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ------------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $81,000,000.00 BOND IA1 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700 PRICING SPEED The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 13
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ------------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $50,000,000.00 BOND IA2 YIELD TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700 PRICING SPEED GP I 150 175 200 250 275 GP II 250 250 250 250 250 99-24 8.133 8.136 8.140 8.146 8.150 99-24+ 8.128 8.131 8.134 8.139 8.142 99-25 8.123 8.125 8.128 8.132 8.134 99-25+ 8.118 8.120 8.122 8.125 8.127 99-26 8.114 8.115 8.116 8.118 8.119 99-26+ 8.109 8.109 8.110 8.111 8.112 99-27 8.104 8.104 8.104 8.104 8.104 99-27+ 8.099 8.098 8.098 8.097 8.096 99-28 8.094 8.093 8.092 8.090 8.089 99-28+ 8.089 8.088 8.086 8.083 8.081 99-29 8.084 8.082 8.080 8.076 8.074 99-29+ 8.079 8.077 8.074 8.069 8.066 99-30 8.074 8.071 8.068 8.062 8.058 99-30+ 8.070 8.066 8.062 8.055 8.051 99-31 8.065 8.061 8.056 8.048 8.043 99-31+ 8.060 8.055 8.050 8.041 8.036 100-00 8.055 8.050 8.044 8.034 8.028 100-00+ 8.050 8.044 8.039 8.027 8.021 100-01 8.045 8.039 8.033 8.020 8.013 100-01+ 8.040 8.034 8.027 8.013 8.005 100-02 8.035 8.028 8.021 8.006 7.998 100-02+ 8.030 8.023 8.015 7.999 7.990 100-03 8.026 8.017 8.009 7.992 7.983 100-03+ 8.021 8.012 8.003 7.985 7.975 Avg Life 3.85 3.43 3.08 2.55 2.34 First Pay Apr-03 Dec-02 Sep-02 Apr-02 Feb-02 Last Pay May-05 Nov-04 Jun-04 Sep-03 Jun-03
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 14
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ------------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $50,000,000.00 BOND IA3 YIELD TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700 PRICING SPEED GP I 150 175 200 250 275 GP II 250 250 250 250 250 99-24 8.318 8.320 8.322 8.326 8.328 99-24+ 8.315 8.317 8.318 8.322 8.324 99-25 8.312 8.313 8.315 8.317 8.319 99-25+ 8.309 8.310 8.311 8.313 8.314 99-26 8.306 8.306 8.307 8.308 8.309 99-26+ 8.303 8.303 8.303 8.304 8.304 99-27 8.299 8.299 8.299 8.299 8.299 99-27+ 8.296 8.296 8.295 8.295 8.294 99-28 8.293 8.292 8.292 8.290 8.289 99-28+ 8.290 8.289 8.288 8.286 8.284 99-29 8.287 8.285 8.284 8.281 8.280 99-29+ 8.284 8.282 8.280 8.276 8.275 99-30 8.281 8.279 8.276 8.272 8.270 99-30+ 8.278 8.275 8.273 8.267 8.265 99-31 8.274 8.272 8.269 8.263 8.260 99-31+ 8.271 8.268 8.265 8.258 8.255 100-00 8.268 8.265 8.261 8.254 8.250 100-00+ 8.265 8.261 8.257 8.249 8.245 100-01 8.262 8.258 8.253 8.245 8.241 100-01+ 8.259 8.254 8.250 8.240 8.236 100-02 8.256 8.251 8.246 8.236 8.231 100-02+ 8.252 8.247 8.242 8.231 8.226 100-03 8.249 8.244 8.238 8.226 8.221 100-03+ 8.246 8.240 8.234 8.222 8.216 Avg Life 6.77 5.92 5.23 4.22 3.88 First Pay May-05 Nov-04 Jun-04 Sep-03 Jun-03 Last Pay Apr-09 Apr-08 May-07 Nov-05 Apr-05
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 15
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ------------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $47,722,000.00 BOND IA4 YIELD TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700% PRICING SPEED GP I 150 175 200 250 275 GP II 250 250 250 250 250 99-24 8.343 8.344 8.345 8.347 8.349 99-24+ 8.341 8.342 8.343 8.344 8.346 99-25 8.339 8.340 8.340 8.342 8.343 99-25+ 8.337 8.337 8.338 8.339 8.339 99-26 8.335 8.335 8.335 8.336 8.336 99-26+ 8.333 8.333 8.333 8.333 8.333 99-27 8.331 8.331 8.330 8.330 8.330 99-27+ 8.328 8.328 8.328 8.328 8.327 99-28 8.326 8.326 8.326 8.325 8.324 99-28+ 8.324 8.324 8.323 8.322 8.321 99-29 8.322 8.321 8.321 8.319 8.318 99-29+ 8.320 8.319 8.318 8.316 8.315 99-30 8.318 8.317 8.316 8.314 8.312 99-30+ 8.315 8.314 8.313 8.311 8.309 99-31 8.313 8.312 8.311 8.308 8.306 99-31+ 8.311 8.310 8.309 8.305 8.303 100-00 8.309 8.308 8.306 8.302 8.300 100-00+ 8.307 8.305 8.304 8.300 8.297 100-01 8.305 8.303 8.301 8.297 8.294 100-01+ 8.303 8.301 8.299 8.294 8.291 100-02 8.300 8.298 8.296 8.291 8.288 100-02+ 8.298 8.296 8.294 8.288 8.285 100-03 8.296 8.294 8.291 8.286 8.282 100-03+ 8.294 8.292 8.289 8.283 8.279 Avg Life 11.79 10.69 9.71 7.93 7.12 First Pay Apr-09 Apr-08 May-07 Nov-05 Apr-05 Last Pay Oct-14 Oct-13 Jan-13 Sep-11 Feb-11
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 16
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ------------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $14,295,000.00 BOND IA5 YIELD TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700 PRICING SPEED GP I 150 175 200 250 275 GP II 250 250 250 250 250 99-24 8.590 8.591 8.591 8.592 8.592 99-24+ 8.588 8.589 8.589 8.589 8.590 99-25 8.586 8.586 8.587 8.587 8.587 99-25+ 8.584 8.584 8.585 8.585 8.585 99-26 8.582 8.582 8.583 8.583 8.583 99-26+ 8.580 8.580 8.580 8.581 8.581 99-27 8.578 8.578 8.578 8.578 8.578 99-27+ 8.576 8.576 8.576 8.576 8.576 99-28 8.575 8.574 8.574 8.574 8.574 99-28+ 8.573 8.572 8.572 8.572 8.571 99-29 8.571 8.570 8.570 8.569 8.569 99-29+ 8.569 8.568 8.568 8.567 8.567 99-30 8.567 8.566 8.566 8.565 8.564 99-30+ 8.565 8.564 8.564 8.563 8.562 99-31 8.563 8.562 8.562 8.560 8.560 99-31+ 8.561 8.560 8.560 8.558 8.558 100-00 8.559 8.558 8.558 8.556 8.555 100-00+ 8.557 8.556 8.555 8.554 8.553 100-01 8.555 8.554 8.553 8.552 8.551 100-01+ 8.553 8.552 8.551 8.549 8.548 100-02 8.551 8.550 8.549 8.547 8.546 100-02+ 8.549 8.548 8.547 8.545 8.544 100-03 8.547 8.546 8.545 8.543 8.541 100-03+ 8.545 8.544 8.543 8.540 8.539 Avg Life 14.35 13.35 12.60 11.27 10.69 First Pay Oct-14 Oct-13 Jan-13 Jun-11 Feb-11 Last Pay Oct-14 Oct-13 Jan-13 Jun-11 Feb-11
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 17
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ------------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $11,437,000.00 BOND IM1 YIELD TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700 PRICING SPEED GP I 150 175 200 250 275 GP II 250 250 250 250 250 99-24 9.100 9.100 9.100 9.101 9.101 99-24+ 9.097 9.098 9.098 9.098 9.098 99-25 9.095 9.095 9.095 9.095 9.095 99-25+ 9.092 9.092 9.092 9.093 9.093 99-26 9.090 9.090 9.090 9.090 9.090 99-26+ 9.087 9.087 9.087 9.087 9.087 99-27 9.085 9.084 9.084 9.084 9.084 99-27+ 9.082 9.082 9.082 9.082 9.081 99-28 9.079 9.079 9.079 9.079 9.079 99-28+ 9.077 9.077 9.076 9.076 9.076 99-29 9.074 9.074 9.074 9.073 9.073 99-29+ 9.072 9.071 9.071 9.070 9.070 99-30 9.069 9.069 9.068 9.068 9.067 99-30+ 9.067 9.066 9.066 9.065 9.065 99-31 9.064 9.064 9.063 9.062 9.062 99-31+ 9.062 9.061 9.060 9.059 9.059 100-00 9.059 9.058 9.058 9.057 9.056 100-00+ 9.057 9.056 9.055 9.054 9.053 100-01 9.054 9.053 9.052 9.051 9.051 100-01+ 9.052 9.051 9.050 9.048 9.048 100-02 9.049 9.048 9.047 9.046 9.045 100-02+ 9.046 9.045 9.044 9.043 9.042 100-03 9.044 9.043 9.042 9.040 9.039 100-03+ 9.041 9.040 9.039 9.037 9.037 Avg Life 9.90 9.44 9.06 8.40 8.12 First Pay Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Last Pay Oct-14 Oct-13 Jan-13 Sep-11 Feb-11
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 18
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------ Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ---------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $11,437,000.00 BOND IB1 YIELD TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700 PRICING SPEED GP I 150 175 200 250 275 GP II 250 250 250 250 250 99-00 9.608 9.611 9.613 9.618 9.619 99-00+ 9.605 9.607 9.610 9.614 9.616 99-01 9.601 9.604 9.606 9.610 9.612 99-01+ 9.598 9.600 9.603 9.607 9.608 99-02 9.594 9.597 9.599 9.603 9.605 99-02+ 9.591 9.593 9.596 9.600 9.601 99-03 9.587 9.590 9.592 9.596 9.598 99-03+ 9.584 9.587 9.589 9.592 9.594 99-04 9.581 9.583 9.585 9.589 9.590 99-04+ 9.577 9.580 9.582 9.585 9.587 99-05 9.574 9.576 9.578 9.582 9.583 99-05+ 9.570 9.573 9.575 9.578 9.579 99-06 9.567 9.569 9.571 9.574 9.576 99-06+ 9.564 9.566 9.568 9.571 9.572 99-07 9.560 9.562 9.564 9.567 9.569 99-07+ 9.557 9.559 9.561 9.564 9.565 99-08 9.553 9.555 9.557 9.560 9.561 99-08+ 9.550 9.552 9.554 9.557 9.558 99-09 9.547 9.549 9.550 9.553 9.554 99-09+ 9.543 9.545 9.547 9.549 9.551 99-10 9.540 9.542 9.543 9.546 9.547 99-10+ 9.536 9.538 9.540 9.542 9.543 99-11 9.533 9.535 9.536 9.539 9.540 99-11+ 9.530 9.531 9.533 9.535 9.536 Avg Life 6.43 6.29 6.17 5.98 5.90 First Pay Jun-05 Jun-05 Jun-05 Jun-05 Jun-05 Last Pay Jun-08 Mar-08 Dec-07 Jul-07 May-07
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 19
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ---------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $20,015,411.00 BOND IB2 YIELD TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700 PRICING SPEED GP I 150 175 200 250 275 GP II 250 250 250 250 250 95-08 10.120 10.141 10.160 10.198 10.218 95-08+ 10.118 10.138 10.157 10.196 10.215 95-09 10.115 10.136 10.155 10.193 10.212 95-09+ 10.113 10.133 10.152 10.190 10.209 95-10 10.111 10.131 10.150 10.188 10.206 95-10+ 10.108 10.128 10.147 10.185 10.204 95-11 10.106 10.126 10.145 10.182 10.201 95-11+ 10.103 10.123 10.142 10.179 10.198 95-12 10.101 10.121 10.139 10.177 10.195 95-12+ 10.098 10.118 10.137 10.174 10.193 95-13 10.096 10.116 10.134 10.171 10.190 95-13+ 10.093 10.113 10.132 10.169 10.187 95-14 10.091 10.111 10.129 10.166 10.184 95-14+ 10.089 10.108 10.127 10.163 10.181 95-15 10.086 10.106 10.124 10.161 10.179 95-15+ 10.084 10.103 10.121 10.158 10.176 95-16 10.081 10.101 10.119 10.155 10.173 95-16+ 10.079 10.098 10.116 10.152 10.170 95-17 10.076 10.096 10.114 10.150 10.168 95-17+ 10.074 10.093 10.111 10.147 10.165 95-18 10.072 10.091 10.109 10.144 10.162 95-18+ 10.069 10.088 10.106 10.142 10.159 95-19 10.067 10.086 10.103 10.139 10.156 95-19+ 10.064 10.083 10.101 10.136 10.154 First Payment 11.88 11.24 10.71 9.79 9.40 Average Life Jun-08 Mar-08 Dec-07 Jul-07 May-07 Last Payment Oct-14 Oct-13 Jan-13 Sep-11 Feb-11 The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 20
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ---------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $48,286,000.00 BOND IIA1 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700, 5 YEAR CMT 6.7600 PRICING SPEED GP I 200 200 200 200 200 GP II 175 200 250 275 300 99-24 36.3 36.8 37.8 38.3 38.8 99-24+ 35.9 36.4 37.3 37.7 38.3 99-25 35.5 36.0 36.8 37.2 37.7 99-25+ 35.1 35.5 36.3 36.7 37.2 99-26 34.7 35.1 35.8 36.2 36.6 99-26+ 34.4 34.7 35.3 35.7 36.1 99-27 34.0 34.2 34.8 35.2 35.5 99-27+ 33.6 33.8 34.4 34.6 35.0 99-28 33.2 33.4 33.9 34.1 34.4 99-28+ 32.8 33.0 33.4 33.6 33.9 99-29 32.4 32.5 32.9 33.1 33.3 99-29+ 32.0 32.1 32.4 32.6 32.8 99-30 31.6 31.7 31.9 32.1 32.2 99-30+ 31.2 31.3 31.4 31.5 31.6 99-31 30.8 30.8 31.0 31.0 31.1 99-31+ 30.4 30.4 30.5 30.5 30.5 100-00 30.0 30.0 30.0 30.0 30.0 100-00+ 29.6 29.6 29.5 29.5 29.4 100-01 29.2 29.1 29.0 29.0 28.9 100-01+ 28.8 28.7 28.5 28.5 28.3 100-02 28.4 28.3 28.1 27.9 27.8 100-02+ 28.0 27.9 27.6 27.4 27.2 100-03 27.6 27.5 27.1 26.9 26.7 100-03+ 27.2 27.0 26.6 26.4 26.2 Average Life 5.11 4.70 4.02 3.73 3.45 First Payment Jun-00 Jun-00 Jun-00 Jun-00 Jun-00 Last Payment Aug-13 Jun-13 Jan-13 Dec-12 Oct-12 The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 21
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ---------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $4,471,000.00 BOND IIB1 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700, 5 YEAR CMT 6.7600 PRICING SPEED GP I 200 200 200 200 200 GP II 175 200 250 275 300 99-24 58.9 59.3 59.9 60.2 60.3 99-24+ 58.7 59.0 59.6 59.9 60.0 99-25 58.4 58.7 59.3 59.6 59.7 99-25+ 58.2 58.5 59.0 59.2 59.3 99-26 57.9 58.2 58.7 58.9 59.0 99-26+ 57.7 57.9 58.4 58.6 58.7 99-27 57.4 57.7 58.1 58.3 58.3 99-27+ 57.2 57.4 57.8 57.9 58.0 99-28 57.0 57.1 57.5 57.6 57.7 99-28+ 56.7 56.9 57.2 57.3 57.3 99-29 56.5 56.6 56.9 57.0 57.0 99-29+ 56.2 56.3 56.5 56.6 56.7 99-30 56.0 56.1 56.2 56.3 56.3 99-30+ 55.7 55.8 55.9 56.0 56.0 99-31 55.5 55.5 55.6 55.6 55.7 99-31+ 55.2 55.3 55.3 55.3 55.3 100-00 55.0 55.0 55.0 55.0 55.0 100-00+ 54.8 54.7 54.7 54.7 54.7 100-01 54.5 54.5 54.4 54.4 54.3 100-01+ 54.3 54.2 54.1 54.0 54.0 100-02 54.0 53.9 53.8 53.7 53.7 100-02+ 53.8 53.7 53.5 53.4 53.3 100-03 53.5 53.4 53.2 53.1 53.0 100-03+ 53.3 53.1 52.8 52.7 52.7 Average Life 8.47 7.58 6.23 5.83 5.67 First Payment Apr-07 Jul-06 Jun-05 Jul-05 Jul-05 Last Payment Oct-10 Oct-09 Feb-08 Jul-07 Dec-06
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 22
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ---------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $3,577,000.00 BOND IIB2 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700, 5 YEAR CMT 6.7600 PRICING SPEED GP I 200 200 200 200 200 GP II 175 200 250 275 300 99-24 213.3 213.5 213.9 214.1 214.3 99-24+ 213.1 213.3 213.6 213.8 214.1 99-25 212.9 213.0 213.4 213.6 213.8 99-25+ 212.7 212.8 213.2 213.3 213.5 99-26 212.5 212.6 212.9 213.1 213.2 99-26+ 212.3 212.4 212.7 212.8 213.0 99-27 212.1 212.2 212.4 212.6 212.7 99-27+ 211.9 212.0 212.2 212.3 212.4 99-28 211.7 211.7 211.9 212.1 212.2 99-28+ 211.5 211.5 211.7 211.8 211.9 99-29 211.2 211.3 211.5 211.5 211.6 99-29+ 211.0 211.1 211.2 211.3 211.4 99-30 210.8 210.9 211.0 211.0 211.1 99-30+ 210.6 210.7 210.7 210.8 210.8 99-31 210.4 210.4 210.5 210.5 210.5 99-31+ 210.2 210.2 210.2 210.3 210.3 100-00 210.0 210.0 210.0 210.0 210.0 100-00+ 209.8 209.8 209.8 209.7 209.7 100-01 209.6 209.6 209.5 209.5 209.5 100-01+ 209.4 209.3 209.3 209.2 209.2 100-02 209.2 209.1 209.0 209.0 208.9 100-02+ 209.0 208.9 208.8 208.7 208.6 100-03 208.8 208.7 208.5 208.5 208.4 100-03+ 208.6 208.5 208.3 208.2 208.1 Average Life 12.16 11.23 9.38 8.63 7.97 First Payment Oct-10 Oct-09 Feb-08 Jul-07 Dec-06 Last Payment Aug-13 Jun-13 Nov-11 Jan-11 Mar-10
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 23
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000B $345,519,981 (approximate) - ---------------------------------------------------------------------------- DATED DATE: 05/31/00 CURRENT COUPON: TBD VMF 00-B FIRST PAYMENT: 06/07/00 ORIGINAL BALANCE: $3,279,570.00 BOND IIB3 DISCOUNT MARGIN ACT/360 TABLE YIELD TABLE DATE: 05/31/00 ASSUMED CONSTANT LIBOR-1M 6.5700, 5 YEAR CMT 6.7600 PRICING SPEED GP I 200 200 200 200 200 GP II 175 200 250 275 300 99-24 243.2 243.2 243.3 243.4 243.4 99-24+ 243.0 243.0 243.1 243.2 243.2 99-25 242.8 242.8 242.9 242.9 243.0 99-25+ 242.6 242.6 242.7 242.7 242.8 99-26 242.4 242.4 242.5 242.5 242.6 99-26+ 242.2 242.2 242.3 242.3 242.4 99-27 242.0 242.0 242.1 242.1 242.2 99-27+ 241.8 241.8 241.9 241.9 241.9 99-28 241.6 241.6 241.7 241.7 241.7 99-28+ 241.4 241.4 241.4 241.5 241.5 99-29 241.2 241.2 241.2 241.3 241.3 99-29+ 241.0 241.0 241.0 241.1 241.1 99-30 240.8 240.8 240.8 240.8 240.9 99-30+ 240.6 240.6 240.6 240.6 240.6 99-31 240.4 240.4 240.4 240.4 240.4 99-31+ 240.2 240.2 240.2 240.2 240.2 100-00 240.0 240.0 240.0 240.0 240.0 100-00+ 239.8 239.8 239.8 239.8 239.8 100-01 239.6 239.6 239.6 239.6 239.6 100-01+ 239.4 239.4 239.4 239.4 239.4 100-02 239.2 239.2 239.2 239.2 239.1 100-02+ 239.0 239.0 239.0 238.9 238.9 100-03 238.8 238.8 238.8 238.7 238.7 100-03+ 238.6 238.6 238.6 238.5 238.5 Average Life 13.19 13.02 12.47 12.13 11.66 First Payment Aug-13 Jun-13 Nov-11 Jan-11 Mar-10 Last Payment Aug-13 Jun-13 Jan-13 Dec-12 Oct-12
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 24
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Group I Loan Group (Fixed) $285,906,411.28 Cut Off Date of Tape: 4/25/00 - ----------------------------------------------------------------------------- Number of Mortgage Loans: 8,544 Aggregate Unpaid Principal Balance: $285,906,411.28 Aggregate Original Principal Balance: $289,930,272.92 Weighted Average Gross Coupon: 11.353% Gross Coupon Range: 7.990% - 18.000% - ----------------------------------------------------------------------------- Average Unpaid Principal Balance: $33,462.83 Average Original Principal Balance: $33,933.79 Maximum Unpaid Principal Balance: $248,049.58 Minimum Unpaid Principal Balance: $4,086.81 Maximum Original Principal Balance: $250,000.00 Minimum Original Principal Balance: $4,996.98 Weighted Avg. Stated Rem. Term (PTD to Mat Date): 231.433 Stated Rem Term Range: 25.000 - 360.000 Weighted Average Age : 12.384 Age Range: 0.000 - 264.000 Weighted Average Original Term: 243.818 Original Term Range: 27.000 - 360.000 Weighted Average Original LTV: 85.738 Original LTV Range: 10.058% - 100.000% - --------------------------------------------------------------------
Greatest Zip Code Concentration ZIP 76208 33 Loans 0.37 $1,052,836 New 64.60 $184,699,944 Used 35.40 $101,206,467 Multi-section 39.32 $112,420,216 Single-section 51.14 $146,221,900 Site Built 9.54 $27,264,296 Not Parked 57.46 $164,284,289 Parked 33.00 $94,357,827 Site Built 9.54 $27,264,296 The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 25
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Geographical Distribution of Manufactured Homes as of Origination - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal State Loans Balance Balance Alabama 269 $ 7,707,758 2.70% Arizona 151 5,876,738 2.06 Arkansas 132 4,565,609 1.60 California 20 885,406 0.31 Colorado 85 3,204,890 1.12 Connecticut 4 377,991 0.13 Delaware 28 784,182 0.27 Florida 354 15,112,101 5.29 Georgia 268 8,979,969 3.14 Idaho 3 119,096 0.04 Illinois 30 850,679 0.30 Indiana 88 2,751,858 0.96 Iowa 76 2,494,366 0.87 Kansas 35 1,217,803 0.43 Kentucky 371 11,395,948 3.99 Louisiana 363 10,999,023 3.85 Maine 23 684,083 0.24 Maryland 18 885,997 0.31 Massachusetts 8 720,253 0.25 Michigan 142 5,044,603 1.76 Minnesota 71 2,441,536 0.85 Mississippi 285 7,727,579 2.70 Missouri 153 4,647,232 1.63 Montana 19 697,389 0.24 Nebraska 14 395,205 0.14 Nevada 5 256,836 0.09 New Hampshire 12 369,917 0.13 New Jersey 20 1,976,811 0.69 New Mexico 148 4,874,045 1.70 New York 126 8,495,095 2.97 North Carolina 1,203 39,967,300 13.98 North Dakota 10 308,389 0.11 Ohio 197 6,341,698 2.22 Oklahoma 81 2,561,305 0.90 Oregon 18 757,542 0.26 Pennsylvania 61 2,223,627 0.78 South Carolina 751 23,637,837 8.27 South Dakota 4 116,617 0.04 Tennessee 987 30,524,572 10.68 Texas 1,422 47,872,260 16.74 Utah 3 102,268 0.04 Vermont 3 84,023 0.03 Virginia 336 10,773,402 3.77 Washington 11 417,302 0.15 West Virginia 97 2,488,641 0.87 Wisconsin 21 625,066 0.22 Wyoming 18 564,567 0.20 - ----------------------------------------------------------------------------- TOTAL 8,544 $285,906,411 100.00%
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 26
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Years of Origination of Contracts - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Year of Mortgage Principal Principal Origination Loans Balance Balance 1978 1 $ 17,061 0.01% 1986 1 34,464 0.01 1990 43 501,043 0.18 1991 55 713,144 0.25 1992 11 243,963 0.09 1993 5 91,071 0.03 1994 8 315,584 0.11 1995 20 840,804 0.29 1996 1,621 47,248,470 16.53 1997 385 11,709,994 4.10 1998 369 22,977,580 8.04 1999 242 12,864,348 4.50 2000 5,783 188,348,885 65.88 - -------------------------------------------------------------------------- TOTAL 8,544 $285,906,411 100.00% ==========================================================================
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 27
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Distribution of Original Amounts - Group I Contracts Percentage of Original Aggregate Cut-Off Date Mortgage Number of Unpaid Aggregate Loan Mortgage Principal Principal Balance Loans Balance Balance $ 0.00 - $ 5,000.00 1 $ 4,960 0.00% $ 5,000.01 - $ 10,000.00 158 1,304,646 0.46 $ 10,000.01 - $ 15,000.00 510 6,341,070 2.22 $ 15,000.01 - $ 20,000.00 992 16,747,818 5.86 $ 20,000.01 - $ 25,000.00 1,189 26,162,827 9.15 $ 25,000.01 - $ 30,000.00 1,532 41,396,930 14.48 $ 30,000.01 - $ 35,000.00 1,309 41,790,288 14.62 $ 35,000.01 - $ 40,000.00 803 29,585,537 10.35 $ 40,000.01 - $ 45,000.00 529 22,187,768 7.76 $ 45,000.01 - $ 50,000.00 398 18,700,518 6.54 $ 50,000.01 - $ 55,000.00 271 14,251,140 4.98 $ 55,000.01 - $ 60,000.00 208 11,899,462 4.16 $ 60,000.01 - $ 65,000.00 158 9,826,521 3.44 $ 65,000.01 - $ 70,000.00 118 7,936,612 2.78 $ 70,000.01 - $ 75,000.00 74 5,356,654 1.87 $ 75,000.01 - $ 80,000.00 56 4,309,456 1.51 $ 80,000.01 - $ 85,000.00 32 2,629,459 0.92 $ 85,000.01 - $ 90,000.00 32 2,783,426 0.97 $ 90,000.01 - $ 95,000.00 18 1,659,886 0.58 $ 95,000.01 - $ 100,000.00 22 2,142,174 0.75 $ 100,000.01 - $ 105,000.00 15 1,471,070 0.51 $ 105,000.01 - $ 110,000.00 13 1,390,226 0.49 $ 110,000.01 - $ 115,000.00 19 2,095,865 0.73 $ 115,000.01 - $ 120,000.00 9 1,053,999 0.37 $ 120,000.01 - $ 125,000.00 5 614,468 0.21 $ 125,000.01 - $ 130,000.00 10 1,242,824 0.43 $ 130,000.01 - $ 135,000.00 7 920,534 0.32 $ 135,000.01 - $ 140,000.00 4 542,795 0.19 $ 140,000.01 - $ 145,000.00 8 1,134,260 0.40 $ 145,000.01 - $ 150,000.00 3 442,328 0.15 $ 150,000.01 - $ 155,000.00 3 454,613 0.16 $ 155,000.01 - $ 160,000.00 3 471,624 0.16 $ 160,000.01 - $ 165,000.00 3 484,596 0.17 $ 165,000.01 - $ 170,000.00 4 664,714 0.23 $ 170,000.01 or greater 28 5,905,344 2.07 - ------------------------------------------------------------------------------- TOTAL 8,544 $285,906,411 100.00% ===============================================================================
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 28
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Distribution of Original Loan-to-Value Ratios - Group I Contracts Percentage of Aggregate Cut-Off Date Original Number of Unpaid Aggregate Loan-To-Value Mortgage Principal Principal Ratio Loans Balance Balance Less than 61.000% 349 $ 8,965,884 3.14% 61.000% - 65.999% 189 5,516,766 1.93 66.000% - 70.999% 271 9,137,336 3.20 71.000% - 75.999% 452 15,707,861 5.49 76.000% - 80.999% 749 29,277,212 10.24 81.000% - 85.999% 1,280 43,091,519 15.07 86.000% - 90.999% 2,783 97,756,207 34.19 91.000% - 100.000% 2,471 76,453,628 26.74 - ---------------------------------------------------------------------------- TOTAL 8,544 $285,906,411 100.00% ============================================================================
Cut-off Date Contract Rate - Group I Contracts Percentage of Aggregate Cut-Off Date Gross Mortgage Number of Unpaid Aggregate Interest Rate Mortgage Principal Principal Range Loans Balance Balance 0.000% - 8.000% 44 $ 2,244,706 0.79% 8.001% - 9.000% 238 12,509,447 4.38 9.001% - 10.000% 1,374 64,153,172 22.44 10.001% - 11.000% 1,784 61,641,776 21.56 11.001% - 12.000% 1,420 45,044,461 15.75 12.001% - 13.000% 2,109 61,264,497 21.43 13.001% - 14.000% 850 23,016,362 8.05 14.001% - 15.000% 603 13,649,431 4.77 15.001% - 16.000% 87 1,828,907 0.64 16.001% - 17.000% 16 332,306 0.12 17.001% - 18.000% 19 221,346 0.08 - ---------------------------------------------------------------------------- TOTAL 8,544 $285,906,411 100.00% ============================================================================ The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 29
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Remaining Months to Maturity - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Remaining Term Loans Balance Balance 1 - 72 334 $ 4,413,586 1.54% 73 - 84 383 5,777,610 2.02 85 - 120 794 16,818,558 5.88 121 - 156 1,079 26,041,395 9.11 157 - 180 1,246 35,816,656 12.53 181 - 240 2,557 90,274,237 31.57 241 - 300 1,006 41,448,452 14.50 301 - 360 1,145 65,315,916 22.85 - ------------------------------------------------------------------- TOTAL 8,544 $285,906,411 100.00% ===================================================================
Distribution of Model Years - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Model Year Loans Balance Balance N/A 14 $ 478,412 0.17% 1968 1 18,784 0.01 1969 3 22,341 0.01 1970 6 67,963 0.02 1971 4 42,831 0.01 1972 12 135,920 0.05 1973 8 117,369 0.04 1974 9 206,991 0.07 1975 10 143,666 0.05 1976 10 150,276 0.05 1977 19 334,134 0.12 1978 25 362,748 0.13 1979 25 445,862 0.16 1980 34 620,572 0.22 1981 25 394,774 0.14 1982 40 614,484 0.21 1983 52 824,329 0.29 1984 103 1,729,880 0.61 1985 105 1,761,172 0.62 1986 109 1,902,465 0.67 1987 111 2,006,370 0.70 1988 96 1,885,631 0.66 1989 115 1,968,465 0.69 1990 134 2,506,923 0.88 1991 192 3,615,110 1.26 1992 189 3,949,490 1.38 1993 222 5,421,203 1.90 1994 271 7,485,024 2.62 1995 536 15,536,647 5.43 1996 1,556 46,608,099 16.30 1997 1,311 47,102,442 16.47 1998 645 28,091,080 9.83 1999 818 39,345,317 13.76 2000 1,734 70,009,639 24.49 - ----------------------------------------------------------------------- TOTAL 8,544 $285,906,411 100.00% The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 30
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ------------------------------------------------------------------------------------------ Group II Loan Group (ARMs) $59,613,570.25 Cut Off Date of Tape: 4/25/00 - ------------------------------------------------------------------------------- Number of Mortgage Loans: 1,302 Index: 5 Yr. CMT Aggregate Unpaid Principal Balance: $59,613,570.25 Aggregate Original Principal Balance: $59,799,754.66 - ------------------------------------------------------------------------------- Weighted Average Coupon (Gross): 10.008% Gross Coupon Range: 7.990% - 16.490% - ------------------------------------------------------------------------------- Weighted Average Margin (Gross): 6.354% Gross Margin Range: 4.180% - 16.040% Weighted Average Life Cap (Gross): 15.754% Gross Life Cap Range: 12.740% - 22.490% Weighted Average Life Floor (Gross): 6.354% Gross Life Floor Range: 4.180% - 16.040% - -------------------------------------------------------------------------------- Average Unpaid Principal Balance: $45,786.15 Average Original Principal Balance: $45,929.15 Maximum Unpaid Principal Balance: $132,293.52 Minimum Unpaid Principal Balance: $5,477.60 Maximum Original Principal Balance: $133,656.00 Minimum Original Principal Balance: $5,918.00 Weighted Avg. Stated Rem. Term (PTD to Mat Date): 260.891 Stated Rem Term Range: 54.000 - 360.000 Weighted Average Age (First Pay thru Paid Thru): 1.382 Age Range: 0.000 - 112.000 Weighted Average Original Term: 262.273 Original Term Range: 60.000 - 360.000 Weighted Average Original LTV: 85.144 Original LTV Range: 29.864% - 100.000% Weighted Average Periodic Interest Cap: 1.537% Periodic Interest Cap Range: 1.000% - 2.000% Weighted Average Months to Interest Roll: 11.278 Months to Interest Roll Range: 1 - 14 Weighted Average Interest Roll Frequency: 11.997 Interest Frequency Range: 6 - 12 - ---------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 31
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Greatest Zip Code Concentration ZIP 75098 26 loans 1.69 $1,005,881 New 97.72 $58,255,594 Used 2.28 $1,357,976 Multi-section 65.54 $39,069,757 Single-section 34.46 $20,543,813 Not Parked 73.27 $43,677,201 Parked 26.73 $15,936,369
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 32
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Geographical Distribution of Manufactured Homes as of Origination - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal State Loans Balance Balance Alabama 8 $ 273,556 0.46% Arizona 15 741,795 1.24 Arkansas 9 375,081 0.63 California 1 53,157 0.09 Colorado 21 1,136,872 1.91 Delaware 2 120,140 0.20 Florida 52 2,118,168 3.55 Georgia 19 671,142 1.13 Indiana 7 289,229 0.49 Kentucky 77 3,277,634 5.50 Louisiana 44 1,838,601 3.08 Maryland 2 91,469 0.15 Mississippi 10 437,112 0.73 Missouri 8 331,402 0.56 New Mexico 13 691,751 1.16 New York 1 48,408 0.08 North Carolina 298 15,013,875 25.19 Ohio 7 251,977 0.42 Oklahoma 14 524,141 0.88 Pennsylvania 4 292,049 0.49 South Carolina 122 6,097,070 10.23 Tennessee 221 9,746,204 16.35 Texas 244 10,051,967 16.86 Virginia 96 4,853,098 8.14 West Virginia 7 287,671 0.48 - ------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ==========================================================================
Years of Origination of Contracts - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Year of Mortgage Principal Principal Origination Loans Balance Balance 1990 3 $ 33,418 0.06% 1997 4 174,175 0.29 1998 21 826,507 1.39 1999 46 2,350,283 3.94 2000 1,228 56,229,187 94.32 - ------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ========================================================================== The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 33
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Distribution of Original Amounts - Group II Contracts Percentage of Original Aggregate Cut-Off Date Mortgage Number of Unpaid Aggregate Loan Mortgage Principal Principal Balance Loans Balance Balance $ 5,000.01 - $ 10,000.00 2 $ 11,770 0.02% $ 10,000.01 - $ 15,000.00 6 73,829 0.12 $ 15,000.01 - $ 20,000.00 22 378,681 0.64 $ 20,000.01 - $ 25,000.00 37 854,424 1.43 $ 25,000.01 - $ 30,000.00 164 4,551,843 7.64 $ 30,000.01 - $ 35,000.00 199 6,443,310 10.81 $ 35,000.01 - $ 40,000.00 159 5,907,199 9.91 $ 40,000.01 - $ 45,000.00 95 4,015,636 6.74 $ 45,000.01 - $ 50,000.00 93 4,406,636 7.39 $ 50,000.01 - $ 55,000.00 115 6,036,844 10.13 $ 55,000.01 - $ 60,000.00 135 7,744,265 12.99 $ 60,000.01 - $ 65,000.00 120 7,474,584 12.54 $ 65,000.01 - $ 70,000.00 66 4,433,597 7.44 $ 70,000.01 - $ 75,000.00 32 2,301,118 3.86 $ 75,000.01 - $ 80,000.00 23 1,770,337 2.97 $ 80,000.01 - $ 85,000.00 12 991,792 1.66 $ 85,000.01 - $ 90,000.00 5 441,775 0.74 $ 90,000.01 - $ 95,000.00 4 372,963 0.63 $ 95,000.01 - $ 100,000.00 4 384,982 0.65 $ 100,000.01 - $ 105,000.00 3 309,059 0.52 $ 105,000.01 - $ 110,000.00 1 105,858 0.18 $ 110,000.01 - $ 115,000.00 1 109,584 0.18 $ 115,000.01 - $ 120,000.00 2 236,370 0.40 $ 120,000.01 - $ 125,000.00 1 124,822 0.21 $ 130,000.01 - $ 135,000.00 1 132,294 0.22 - ------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% =========================================================================================
Distribution of Original Loan-to-Value Ratios - Group II Contracts Percentage of Aggregate Cut-Off Date Original Number of Unpaid Aggregate Loan-To-Value Mortgage Principal Principal Ratio Loans Balance Balance Less than 61.000% 42 $ 1,464,279 2.46% 61.000% - 65.999% 24 1,000,697 1.68 66.000% - 70.999% 53 2,322,271 3.90 71.000% - 75.999% 76 3,573,828 5.99 76.000% - 80.999% 107 5,553,715 9.32 81.000% - 85.999% 202 10,147,515 17.02 86.000% - 90.999% 574 26,208,225 43.96 91.000% - 100.000% 224 9,343,039 15.67 - ------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ========================================================================== The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 34
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Cut-off Date Contract Rate - Group II Contracts Percentage of Aggregate Cut-Off Date Gross Mortgage Number of Unpaid Aggregate Interest Rate Mortgage Principal Principal Range Loans Balance Balance 0.000% - 8.000% 9 $ 686,349 1.15% 8.001% - 9.000% 452 26,215,380 43.98 9.001% - 10.000% 420 15,597,178 26.16 10.001% - 11.000% 104 4,629,033 7.77 11.001% - 12.000% 154 6,561,191 11.01 12.001% - 13.000% 109 4,036,950 6.77 13.001% - 14.000% 46 1,611,095 2.70 14.001% - 15.000% 5 163,693 0.27 15.001% - 16.000% 2 43,210 0.07 16.001% - 17.000% 1 69,493 0.12 - ---------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ============================================================================
Remaining Months to Maturity - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Remaining Term Loans Balance Balance 1 - 72 8 $ 85,953 0.14% 73 - 84 5 137,197 0.23 85 - 120 31 903,926 1.52 121 - 156 30 1,072,489 1.80 157 - 180 113 3,711,052 6.23 181 - 240 626 25,374,320 42.56 241 - 300 293 15,818,688 26.54 301 - 360 196 12,509,945 20.99 - ------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% =================================================================== The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 35
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Distribution of Lifetime Cap - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Gross Mortgage Principal Principal Life CAP Loans Balance Balance 12.501% - 13.000% 6 $ 505,696 0.85% 13.001% - 13.500% 12 789,766 1.32 13.501% - 14.000% 89 4,913,433 8.24 14.001% - 14.500% 9 533,780 0.90 14.501% - 15.000% 475 24,645,342 41.34 15.001% - 15.500% 47 2,849,083 4.78 15.501% - 16.000% 268 9,365,242 15.71 16.001% - 16.500% 55 2,306,628 3.87 16.501% - 17.000% 60 2,742,073 4.60 17.001% - 17.500% 69 2,813,710 4.72 17.501% - 18.000% 84 3,527,939 5.92 18.001% - 18.500% 64 2,381,128 3.99 18.501% - 19.000% 23 885,793 1.49 19.001% - 19.500% 24 780,203 1.31 19.501% - 20.000% 14 444,479 0.75 20.001% - 20.500% 2 59,782 0.10 22.001% - 22.500% 1 69,493 0.12 - ------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ==========================================================================
Distribution of Gross Margin - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Gross Mortgage Principal Principal Gross Margin Loans Balance Balance 4.001% - 4.500% 19 $ 999,679 1.68% 4.501% - 5.000% 16 927,859 1.56 5.001% - 5.500% 12 400,874 0.67 5.501% - 6.000% 185 8,664,038 14.53 6.001% - 6.500% 439 19,808,268 33.23 6.501% - 7.000% 628 28,779,435 48.28 8.001% - 8.500% 2 19,890 0.03 11.001% +++ 1 13,528 0.02 - ------------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ========================================================================== The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 36
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Next Interest Roll Date - Group II Contracts Percentage of Aggregate Cut-Off Date Month Number of Unpaid Aggregate Of Next Mortgage Principal Principal Adjustment Loans Balance Balance ---------- ----- ----------- ----- May 2000 1 $ 34,431 0.06% June 2000 3 39,429 0.07 July 2000 3 104,316 0.17 August 2000 1 13,289 0.02 September 2000 1 40,240 0.07 October 2000 2 20,268 0.03 November 2000 3 131,672 0.22 December 2000 6 228,122 0.38 January 2001 21 1,201,848 2.02 February 2001 282 12,660,025 21.24 March 2001 420 18,795,277 31.53 April 2001 409 19,062,510 31.98 May 2001 126 6,104,605 10.24 June 2001 24 1,177,537 1.98 ---------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ====================================================================
Distribution of Periodic Cap - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Periodic Mortgage Principal Principal Cap Loans Balance Balance 1.00 606 $ 27,624,316 46.34% 2.00 696 31,989,254 53.66 - -------------------------------------------------------------------- TOTAL 1,302 $ 59,613,570 100.00% ===================================================================== Index Code - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Index Mortgage Principal Principal Code Loans Balance Balance 5 yr. CMT 1,302 $59,613,570 100.00% - --------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ===================================================================== The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 37
Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2000-B $345,519,981 (approximate) - ----------------------------------------------------------------------------------------------------------------------- Distribution of Model Years - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Model Year Loans Balance Balance N/A 1 $ 49,115 0.08% 1980 1 6,293 0.01 1984 3 50,727 0.09 1985 1 41,245 0.07 1986 1 5,478 0.01 1987 1 14,790 0.02 1989 1 24,991 0.04 1990 1 13,289 0.02 1991 4 52,536 0.09 1992 1 15,293 0.03 1993 3 70,564 0.12 1995 9 255,696 0.43 1996 8 261,678 0.44 1997 10 438,362 0.74 1998 32 1,497,805 2.51 1999 167 8,437,937 14.15 2000 1,058 48,377,771 81.15 - ---------------------------------------------------------------------- TOTAL 1,302 $59,613,570 100.00% ==========================================================================
The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston or Prudential Securities. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Prudential Securities make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 38 -----END PRIVACY-ENHANCED MESSAGE-----