-----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, OKWhaQj+KDig0lS/7xOrDniZP1hOwUn99tdkMKRi7Q56aShBh8bCU2KwInV2G4FL oiHvGozMLqiGKIKC5DX/Ug== 0000905148-01-000316.txt : 20010223 0000905148-01-000316.hdr.sgml : 20010223 ACCESSION NUMBER: 0000905148-01-000316 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010214 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010215 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: 1547124 BUSINESS ADDRESS: STREET 1: 5000 CLAYTON ROAD CITY: MARYVILLE STATE: TN ZIP: 37804 BUSINESS PHONE: 8653803000 MAIL ADDRESS: STREET 1: 5000 CLAYTON ROAD CITY: MARYVILLE STATE: TN ZIP: 37804 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: 1547125 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 0001.txt T:\EDGAR2001\RECANATI\794029.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): February 14, 2001 VANDERBILT MORTGAGE AND FINANCE, INC. (as seller and servicer under the Pooling and Servicing Agreement, dated as of January 25, 2001, providing for the issuance of the Vanderbilt Mortgage and Finance, Inc., Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 2001-A). 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 (865) 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 2001-A, Credit Suisse First Boston Corporation and Bear, Stearns & Co. Inc., as the underwriters of the Certificates (the "Underwriters") have provided certain materials (the "Computational Materials") for distribution to 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 Bear, Stearns & Co. Inc. are attached hereto as Exhibit 99.1. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. ------------------------------------------------------------------- (c) Exhibits: 99.1 Computational Materials - Credit Suisse First Boston Corporation and Bear, Stearns & Co. Inc. 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: February 14, 2001 Exhibit Index Exhibit 99.1 Computational Materials - Credit Suisse First Boston Corporation and Bear, Stearns & Co. Inc. EX-99.1 2 0002.txt COMPUTATIONAL MATERIALS SUBJECT TO REVISION SERIES TERM SHEET DATED February 14, 2001 $[353,648,623] [GRAPHIC OMITTED] Vanderbilt Mortgage and Finance, Inc. Seller and Servicer Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates, Series 2001-A 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 2001-A. 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, Bear, Stearns & Co. Inc. nor any of its 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 Bear, Stearns & Co. Inc. Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ PRELIMINARY INFORMATION ONLY Offered Certificates
Class A-1 Class A-2 Class A-3 Class A-4 Class A-5 Class M-1 Class B-1 Class B-2 - ------------------------------------------------------------------------------------------------------------------------- Amount: $79,600,000 $76,100,000 $57,700,000 $81,895,000 $15,031,000 $14,146,000 $14,146,000 $15,030,623 Type: Fixed 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 1.00 3.00 5.30 10.28 13.78 9.56 6.80 12.20 (To Call): Avg Life 1.00 3.00 5.30 10.39 17.65 10.08 6.80 16.80 (To Mat): 1st Prin Pymt 03/01 02/03 04/05 12/07 12/14 03/06 03/06 02/10 (To Call): Last Prin Pymt 02/03 04/05 12/07 12/14 12/14 12/14 02/10 12/14 (To Call): Last Prin Pymt 02/03 04/05 12/07 11/16 08/21 08/21 02/10 05/30 (To Mat): Stated Mat: 01/10 02/15 08/19 06/28 04/31 04/31 09/20 04/31 Expected 02/27/01 02/27/01 02/27/01 02/27/01 02/27/01 02/27/01 02/27/01 02/27/01 Settlement: Payment Delay: 6 days 6 days 6 days 6 days 6 days 6 days 6 days 6 days Interest Payment 30/360 30/360 30/360 30/360 30/360 30/360 30/360 30/360 Basis: Dated Date: 02/01/01 02/01/01 02/01/01 02/01/01 02/01/01 02/01/01 02/01/01 02/01/01 Ratings Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA Aa3/AA- A2/A Baa2/BBB Baa2/BBB (Moody's/S&P): 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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
Title of Securities: Vanderbilt Mortgage and Finance, Inc. Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 2001-A Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class M-1, Class B-1, and Class B-2 fixed rate certificates. Seller: Vanderbilt Mortgage and Finance, Inc. Servicer: Vanderbilt Mortgage and Finance, Inc. Underwriters: Credit Suisse First Boston Corporation (lead) Bear, Stearns & Co. Inc. (co) Trustee: The Chase Manhattan Bank Credit Enhancement: 1) Excess interest 2) Subordination 3) Limited Guarantee of Clayton Homes, Inc. (Class B-2 only) Excess Interest: Excess interest cashflows will be available as credit enhancement. Collateral: Fixed rate manufactured housing contracts and loans, except for less than 1% of the loans that are adjustable rate loans. Subordination: ---------------------------------------------------------------- Rating Class (Moody's/S&P) Subordination ---------------------------------------------------------------- Class A-1 - A-4 Aaa/AAA 16.50% Class A-5 Aa3/AA- 12.25% Class M-1 A2/A 8.25% Class B-1 Baa2/BBB 4.25% Class B-2 Baa2/BBB ---------------------------------------------------------------- Class Sizes: ---------------------------------------------------------------- Rating Class (Moody's/S&P) Class Size ----------------------- -------------------- --------------------- Class A-1 - A-4 Aaa/AAA 83.50% Class A-5 Aa3/AA- 4.25% Class M-1 A2/A 4.00% Class B-1 Baa2/BBB 4.00% Class B-2 Baa2/BBB 4.25% ----------------------- -------------------- ---------------------
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ OFFERED CERTIFICATES Total Size: $ 353,648,623 (approximate) Maximum Rate: Remittance rates on the Class A-1, A-2, A-3, A-4, A-5, M-1, B-1 and B-2 Certificates are subject to a maximum rate equal to (a) the weighted average contract rate of the 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 M-1 AND CLASS B DISTRIBUTION TEST IS MET: 1) Current interest and any previously unreimbursed interest to Classes A-1 through A-4; 2) The Class A percentage of the Formula Principal Distribution Amount sequentially to Classes A-1, A-2, A-3, and A-4 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class A-5 Certificates; 4) Remaining Class A percentage of the Formula Principal Distribution Amount to Class A-5 until such class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class M-1 Certificates; 6) Class M-1 percentage of the Formula Principal Distribution Amount to Class M-1 until such class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class B-1 Certificates; 8) Class B percentage of the Formula Principal Distribution Amount to Class B-1 until such class is reduced to zero; 9) Current interest and any previously unreimbursed interest to Class B-2 Certificates; 10) Remaining Formula Principal Distribution Amount to Class B-2 until such class is reduced to zero; 11) The amount of any principal reimbursement to Clayton Homes for Enhancement Payments with respect to the Class B-2 Certificates which remains unpaid after giving effect to the distribution described above; 12) 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; 13) Any remainder to the Class R Certificates. - ---------------------------------------------------------------------------- Class A-1 Class A-2 Class A-3 Class A-4 Class A-5 (AAA/Aaa) (AAA/Aaa) (AAA/Aaa) (AAA/Aaa) (AA-/Aa3) - ---------------------------------------------------------------------------- C L A S S M-1 (A/A2) ------------------------------------------ 5-Year Lockout Class B-1 Class B-2 (BBB/Baa2) (BBB/Baa2) - ---------------------------------------------------------------------------- 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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ Cashflow Priority: CLASS M-1 AND CLASS B DISTRIBUTION TEST IS NOT MET: 1) Current interest and any previously unreimbursed interest to Classes A-1 through A-4 Certificates; 2) 100% of the Formula Principal Distribution Amount sequentially to Classes A-1, A-2, A-3, and A-4 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class A-5 Certificates; 4) 100% of remaining formula principal payments to Class A-5 until such Class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class M-1 Certificates; 6) 100% of remaining formula principal payments to Class M-1 until such Class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class B-1 Certificates; 8) 100% of remaining formula principal payments to Class B-1 until such Class is reduced to zero; 9) Current interest and any previously unreimbursed interest to Class B-2 Certificates; 10) 100% of remaining formula principal payments to Class B-2 until such Class is reduced to zero; 11) The amount of any principal reimbursement to Clayton Homes for Enhancement Payments with respect to the Class B-2 Certificates which remains unpaid after giving effect to the distribution described above; 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.
- ----------------------------------------------------------------------------------------------------------- Class A-1 Class A-2 Class A-3 Class A-4 Class A-5 Class M-1 Class B-1 Class B-2 (AAA/Aaa) (AAA/Aaa) (AAA/Aaa) (AAA/Aaa) (AA-/Aa3) (A/A2) (BBB/Baa2) (BBB/Baa2) - -----------------------------------------------------------------------------------------------------------
THE CLASS M-1 AND CLASS B TRIGGERS ARE MET IF: 1) Remittance Date is on or after March 2006 2) Class M-1 Percentage plus Class B Percentage is at least [21.4375]% (which is 1.75 times the sum of the original Class M-1 Percentage and the original Class B Percentage). 3) Cumulative Realized Losses do not exceed [7]% for year 2006, [8]% for year 2007, and [9]% for year 2008 and beyond of the Original Principal Balance of the 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) Class B-2 Principal Balance must not be less than $[7,072,972] (which represents approximately 2% of the Total Original 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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ Cleanup Call: The Servicer may call the Certificates at par plus accrued interest after the remaining pool balance is less than 10% of the Cut-off Date pool principal balance. Remittance Date: The 7th day of each month or, if such day is not a business day, the next succeeding business day, beginning in [March] 2001. Interest Accrual: Interest will accrue from the 1st day of the preceding month until the 30th day of the preceding month. Interest is calculated using a 30/360 day count. ERISA Considerations: All classes of certificates are expected to be 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. 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 information contained herein is qualified in its entirety by the information appearing in the Prospectus. The information herein is subject to modification or change and to the extent 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, Jack Macdowell at (212) 325-1251, or Phil Li at (212) 325-5945 with questions. Summary Collateral Information Total Collateral Amount: $353,648,624.11 Average Unpaid Prin. Balance: $40,146.28 Maximum Original Balance: $200,000.00 Weighted Average Collateral Coupon: 11.339% Coupon Range: 7.990%-19.910% Weighted Average Maturity (months): 262 Weighted Average Original Term (months): 267 Weighted Average LTV: 86.325% New: 76.68% Used: 23.32% Multi-wide: 56.67% Site Built: 7.63% 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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class A1--Price/Yield CUSIP Face $79,600,000.00 Settle at Pricing Coupon 5.46% Original Balance $79,600,000.00 Accrual begins 2/1/2001 Delay 6 Current Balance $79,600,000.00 Factor Date N/A Stated Maturity N/A Factor 1 Type SEN FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 5.712 5.735 5.758 5.781 5.805 99.7031 5.698 5.720 5.741 5.763 5.785 99.7188 5.685 5.705 5.725 5.745 5.765 99.7344 5.672 5.690 5.708 5.726 5.745 99.7500 5.658 5.675 5.691 5.708 5.725 99.7656 5.645 5.660 5.675 5.690 5.705 99.7813 5.631 5.645 5.658 5.671 5.685 99.7969 5.618 5.630 5.641 5.653 5.665 99.8125 5.605 5.615 5.625 5.635 5.645 99.8281 5.591 5.600 5.608 5.617 5.625 99.8438 5.578 5.585 5.592 5.598 5.605 99.8594 5.565 5.570 5.575 5.580 5.585 99.8750 5.551 5.555 5.558 5.562 5.565 99.8906 5.538 5.540 5.542 5.544 5.546 99.9063 5.525 5.525 5.525 5.525 5.526 99.9219 5.511 5.510 5.509 5.507 5.506 99.9375 5.498 5.495 5.492 5.489 5.486 99.9531 5.485 5.480 5.475 5.471 5.466 99.9688 5.471 5.465 5.459 5.453 5.446 99.9844 5.458 5.450 5.442 5.434 5.426 100.0000 5.445 5.435 5.426 5.416 5.407 100.0156 5.431 5.420 5.409 5.398 5.387 100.0313 5.418 5.405 5.393 5.380 5.367 100.0469 5.405 5.390 5.376 5.362 5.347 100.0625 5.391 5.375 5.359 5.343 5.327 WAL 1.26 1.11 1.00 0.91 0.83 Principal Window Mar01 to Aug03 Mar01 to May03 Mar01 to Feb03 Mar01 to Dec02 Mar01 to Oct02
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class A2--Price/Yield CUSIP Face $76,100,000.00 Settle at Pricing Coupon 5.85% Original Balance $76,100,000.00 Accrual begins 2/1/2001 Delay 6 Current Balance $76,100,000.00 Factor Date N/A Stated Maturity N/A Factor 1 Type SEN FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 5.987 5.995 6.002 6.010 6.018 99.7031 5.982 5.989 5.996 6.003 6.011 99.7188 5.978 5.984 5.991 5.997 6.004 99.7344 5.973 5.979 5.985 5.991 5.997 99.7500 5.968 5.973 5.979 5.984 5.990 99.7656 5.963 5.968 5.973 5.978 5.983 99.7813 5.959 5.963 5.967 5.971 5.976 99.7969 5.954 5.958 5.961 5.965 5.969 99.8125 5.949 5.952 5.955 5.959 5.962 99.8281 5.944 5.947 5.950 5.952 5.955 99.8438 5.940 5.942 5.944 5.946 5.948 99.8594 5.935 5.936 5.938 5.939 5.941 99.8750 5.930 5.931 5.932 5.933 5.934 99.8906 5.925 5.926 5.926 5.927 5.927 99.9063 5.921 5.920 5.920 5.920 5.920 99.9219 5.916 5.915 5.914 5.914 5.913 99.9375 5.911 5.910 5.909 5.907 5.906 99.9531 5.906 5.905 5.903 5.901 5.899 99.9688 5.902 5.899 5.897 5.895 5.892 99.9844 5.897 5.894 5.891 5.888 5.885 100.0000 5.892 5.889 5.885 5.882 5.878 100.0156 5.887 5.883 5.879 5.875 5.871 100.0313 5.883 5.878 5.874 5.869 5.864 100.0469 5.878 5.873 5.868 5.863 5.857 100.0625 5.873 5.867 5.862 5.856 5.850 WAL 3.78 3.35 3.00 2.72 2.49 Principal Window Aug03 to May06 May03 to Oct05 Feb03 to Apr05 Dec02 to Dec04 Oct02 to Aug04
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class A3--Price/Yield CUSIP Face $57,700,000.00 Settle at Pricing Coupon 6.33% Original Balance $57,700,000.00 Accrual begins 2/1/2001 Delay 6 Current Balance $57,700,000.00 Factor Date N/A Stated Maturity N/A Factor 1 Type SEN FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 6.452 6.457 6.461 6.466 6.471 99.7031 6.449 6.454 6.458 6.462 6.467 99.7188 6.447 6.450 6.454 6.458 6.462 99.7344 6.444 6.447 6.451 6.454 6.458 99.7500 6.441 6.444 6.447 6.450 6.454 99.7656 6.438 6.441 6.444 6.447 6.449 99.7813 6.435 6.437 6.440 6.443 6.445 99.7969 6.432 6.434 6.436 6.439 6.441 99.8125 6.429 6.431 6.433 6.435 6.437 99.8281 6.426 6.428 6.429 6.431 6.432 99.8438 6.423 6.424 6.426 6.427 6.428 99.8594 6.421 6.421 6.422 6.423 6.424 99.8750 6.418 6.418 6.418 6.419 6.419 99.8906 6.415 6.415 6.415 6.415 6.415 99.9063 6.412 6.412 6.411 6.411 6.411 99.9219 6.409 6.408 6.408 6.407 6.406 99.9375 6.406 6.405 6.404 6.403 6.402 99.9531 6.403 6.402 6.401 6.399 6.398 99.9688 6.400 6.399 6.397 6.395 6.394 99.9844 6.397 6.395 6.393 6.391 6.389 100.0000 6.395 6.392 6.390 6.387 6.385 100.0156 6.392 6.389 6.386 6.383 6.381 100.0313 6.389 6.386 6.383 6.380 6.376 100.0469 6.386 6.383 6.379 6.376 6.372 100.0625 6.383 6.379 6.376 6.372 6.368 WAL 6.89 6.02 5.30 4.73 4.28 Principal Window May06 to Nov09 Oct05 to Nov08 Apr05 to Dec07 Dec04 to Mar07 Aug04 to Jul06
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class A4--Price/Yield CUSIP Face $81,895,000.00 Settle at Pricing Coupon 6.96% Original Balance $81,895,000.00 Accrual begins 2/1/2001 Delay 6 Current Balance $81,895,000.00 Factor Date N/A Stated Maturity N/A Factor 1 Type SEN FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 7.086 7.088 7.090 7.092 7.094 99.7031 7.084 7.086 7.087 7.089 7.091 99.7188 7.082 7.084 7.085 7.087 7.089 99.7344 7.080 7.082 7.083 7.084 7.086 99.7500 7.078 7.079 7.081 7.082 7.084 99.7656 7.076 7.077 7.078 7.080 7.081 99.7813 7.074 7.075 7.076 7.077 7.078 99.7969 7.072 7.073 7.074 7.075 7.076 99.8125 7.071 7.071 7.072 7.073 7.073 99.8281 7.069 7.069 7.070 7.070 7.071 99.8438 7.067 7.067 7.067 7.068 7.068 99.8594 7.065 7.065 7.065 7.065 7.066 99.8750 7.063 7.063 7.063 7.063 7.063 99.8906 7.061 7.061 7.061 7.061 7.061 99.9063 7.059 7.059 7.058 7.058 7.058 99.9219 7.057 7.057 7.056 7.056 7.055 99.9375 7.055 7.055 7.054 7.053 7.053 99.9531 7.053 7.052 7.052 7.051 7.050 99.9688 7.051 7.050 7.050 7.049 7.048 99.9844 7.049 7.048 7.047 7.046 7.045 100.0000 7.047 7.046 7.045 7.044 7.043 100.0156 7.045 7.044 7.043 7.042 7.040 100.0313 7.043 7.042 7.041 7.039 7.038 100.0469 7.041 7.040 7.039 7.037 7.035 100.0625 7.040 7.038 7.036 7.034 7.032 WAL 12.62 11.38 10.28 9.31 8.43 Principal Window Nov09 to Jul17 Nov08 to Feb16 Dec07 to Dec14 Mar07 to Dec13 Jul06 to Jan13
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class A5--Price/Yield CUSIP Face $15,031,000.00 Settle at Pricing Coupon 7.40% Original Balance $15,031,000.00 Accrual begins 2/1/2001 Delay 6 Current Balance $15,031,000.00 Factor Date N/A Stated Maturity N/A Factor 1 Type SEN FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 7.536 7.537 7.538 7.539 7.540 99.7031 7.534 7.535 7.536 7.537 7.538 99.7188 7.532 7.533 7.534 7.535 7.536 99.7344 7.530 7.531 7.532 7.533 7.534 99.7500 7.529 7.529 7.530 7.531 7.532 99.7656 7.527 7.528 7.528 7.529 7.530 99.7813 7.525 7.526 7.526 7.527 7.527 99.7969 7.524 7.524 7.525 7.525 7.525 99.8125 7.522 7.522 7.523 7.523 7.523 99.8281 7.520 7.521 7.521 7.521 7.521 99.8438 7.519 7.519 7.519 7.519 7.519 99.8594 7.517 7.517 7.517 7.517 7.517 99.8750 7.515 7.515 7.515 7.515 7.515 99.8906 7.513 7.513 7.513 7.513 7.513 99.9063 7.512 7.512 7.511 7.511 7.511 99.9219 7.510 7.510 7.510 7.509 7.509 99.9375 7.508 7.508 7.508 7.507 7.507 99.9531 7.507 7.506 7.506 7.505 7.505 99.9688 7.505 7.504 7.504 7.503 7.503 99.9844 7.503 7.503 7.502 7.502 7.501 100.0000 7.502 7.501 7.500 7.500 7.499 100.0156 7.500 7.499 7.498 7.498 7.497 100.0313 7.498 7.497 7.497 7.496 7.495 100.0469 7.496 7.496 7.495 7.494 7.493 100.0625 7.495 7.494 7.493 7.492 7.491 WAL 16.36 14.94 13.78 12.78 11.86 Principal Window Jul17 to Jul17 Feb16 to Feb16 Dec 14 to Dec14 Dec 13 to Dec 13 Jan 13 to Jan 13
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class M_1--Price/Yield CUSIP Face $14,146,000.00 Settle at Pricing Coupon 7.74% Original Balance $14,146,000.00 Accrual begins 2/1/2001 Delay 6 Current Balance $14,146,000.00 Factor Date N/A Stated Maturity N/A Factor 1 Type MEZ FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 7.893 7.894 7.895 7.896 7.896 99.7031 7.890 7.891 7.892 7.893 7.894 99.7188 7.888 7.889 7.890 7.890 7.891 99.7344 7.886 7.887 7.887 7.888 7.889 99.7500 7.884 7.884 7.885 7.885 7.886 99.7656 7.881 7.882 7.882 7.883 7.883 99.7813 7.879 7.880 7.880 7.880 7.881 99.7969 7.877 7.877 7.877 7.878 7.878 99.8125 7.874 7.875 7.875 7.875 7.876 99.8281 7.872 7.872 7.873 7.873 7.873 99.8438 7.870 7.870 7.870 7.870 7.870 99.8594 7.868 7.868 7.868 7.868 7.868 99.8750 7.865 7.865 7.865 7.865 7.865 99.8906 7.863 7.863 7.863 7.863 7.863 99.9063 7.861 7.860 7.860 7.860 7.860 99.9219 7.858 7.858 7.858 7.858 7.857 99.9375 7.856 7.856 7.855 7.855 7.855 99.9531 7.854 7.853 7.853 7.853 7.852 99.9688 7.851 7.851 7.850 7.850 7.850 99.9844 7.849 7.849 7.848 7.847 7.847 100.0000 7.847 7.846 7.846 7.845 7.844 100.0156 7.845 7.844 7.843 7.842 7.842 100.0313 7.842 7.841 7.841 7.840 7.839 100.0469 7.840 7.839 7.838 7.837 7.837 100.0625 7.838 7.837 7.836 7.835 7.834 WAL 10.73 10.07 9.56 9.12 8.71 Principal Window Apr06 to Jul17 Mar06 to Feb16 Mar06 to Dec14 Mar06 to Dec13 Mar06 to Jan13
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class B_1--Price/Yield CUSIP Face $14,146,000.00 Settle at Pricing Coupon 8.25% Original Balance $14,146,000.00 Accrual begins 2/1/2001 Delay 6 Current Balance $14,146,000.00 Factor Date N/A Stated Maturity N/A Factor 1 Type MEZ FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 8.426 8.427 8.428 8.429 8.429 99.7031 8.423 8.424 8.425 8.426 8.426 99.7188 8.420 8.421 8.422 8.422 8.423 99.7344 8.417 8.418 8.419 8.419 8.420 99.7500 8.414 8.415 8.416 8.416 8.416 99.7656 8.411 8.412 8.412 8.413 8.413 99.7813 8.408 8.409 8.409 8.410 8.410 99.7969 8.405 8.406 8.406 8.406 8.407 99.8125 8.403 8.403 8.403 8.403 8.403 99.8281 8.400 8.400 8.400 8.400 8.400 99.8438 8.397 8.397 8.397 8.397 8.397 99.8594 8.394 8.394 8.394 8.394 8.394 99.8750 8.391 8.391 8.390 8.390 8.390 99.8906 8.388 8.387 8.387 8.387 8.387 99.9063 8.385 8.384 8.384 8.384 8.384 99.9219 8.382 8.381 8.381 8.381 8.381 99.9375 8.379 8.378 8.378 8.378 8.377 99.9531 8.376 8.375 8.375 8.375 8.374 99.9688 8.373 8.372 8.372 8.371 8.371 99.9844 8.370 8.369 8.369 8.368 8.368 100.0000 8.367 8.366 8.365 8.365 8.365 100.0156 8.364 8.363 8.362 8.362 8.361 100.0313 8.361 8.360 8.359 8.359 8.358 100.0469 8.358 8.357 8.356 8.355 8.355 100.0625 8.355 8.354 8.353 8.352 8.352 WAL 7.32 7.00 6.80 6.63 6.49 Principal Window Apr06 to Mar11 Mar06 to Jul10 Mar06 to Feb10 Mar06 to Oct09 Mar06 to Jun09
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
VMF01A, Class B_2--Price/Yield CUSIP Face $15,030,623.00 Settle at Pricing Coupon 9.19% Original Balance $15,030,623.00 Accrual begins 2/1/2001 Delay 6 Current Balance $15,030,623.00 Factor Date N/A Stated Maturity N/A Factor 1 Type JUN FIX Price At 150 MHP At 175 MHP At 200 MHP At 225 MHP At 250 MHP Yield 99.6875 9.389 9.390 9.390 9.391 9.392 99.7031 9.387 9.388 9.388 9.389 9.390 99.7188 9.385 9.385 9.386 9.387 9.387 99.7344 9.383 9.383 9.384 9.384 9.385 99.7500 9.381 9.381 9.382 9.382 9.382 99.7656 9.378 9.379 9.379 9.380 9.380 99.7813 9.376 9.377 9.377 9.377 9.378 99.7969 9.374 9.375 9.375 9.375 9.375 99.8125 9.372 9.372 9.373 9.373 9.373 99.8281 9.370 9.370 9.370 9.370 9.371 99.8438 9.368 9.368 9.368 9.368 9.368 99.8594 9.366 9.366 9.366 9.366 9.366 99.8750 9.364 9.364 9.364 9.364 9.363 99.8906 9.362 9.362 9.361 9.361 9.361 99.9063 9.360 9.359 9.359 9.359 9.359 99.9219 9.358 9.357 9.357 9.357 9.356 99.9375 9.356 9.355 9.355 9.354 9.354 99.9531 9.354 9.353 9.352 9.352 9.351 99.9688 9.351 9.351 9.350 9.350 9.349 99.9844 9.349 9.349 9.348 9.347 9.347 100.0000 9.347 9.347 9.346 9.345 9.344 100.0156 9.345 9.344 9.344 9.343 9.342 100.0313 9.343 9.342 9.341 9.340 9.340 100.0469 9.341 9.340 9.339 9.338 9.337 100.0625 9.339 9.338 9.337 9.336 9.335 WAL 14.09 13.05 12.20 11.46 10.81 Principal Window Mar11 to Jul17 Jul10 to Feb16 Feb10 to Dec14 Oct09 to Dec13 Jun09 to Jan13
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ Total Collateral $353,648,624.11 Cut Off Date of Tape: 1/25/01 - ----------------------------------------------------------------------------- Number of Loans: 8,809 Aggregate Unpaid Principal Balance: $353,648,624.11 Aggregate Original Principal Balance: $356,502,161.85 Weighted Average Gross Coupon: 11.339% Gross Coupon Range: 7.990%- 19.910% - ----------------------------------------------------------------------------- Average Unpaid Principal Balance: $40,146.28 Average Original Principal Balance: $40,470.22 Maximum Unpaid Principal Balance: $197,872.79 Minimum Unpaid Principal Balance: $4,550.71 Maximum Original Principal Balance: $200,000.00 Minimum Original Principal Balance: $4,645.00 Weighted Avg. Stated Rem. Term (PTD to Mat Date): 262 Stated Rem Term Range: 33.000 - 360.000 Weighted Average Age : 5 Age Range: 0.000 - 107.000 Weighted Average Original Term: 267 Original Term Range: 36.000 - 360.000 Weighted Average Original LTV: 86.325 Original LTV Range: 7.613% - 100.000% - -------------------------------------------------------------------- Greatest Zip Code Concentration ZIP 75098 37 Loans 0.33% $1,156,016.91 New 76.68% $271,177,036 Used 23.32% $82,471,588 Multi-section 56.67% $200,420,124 Single-section 43.33% $153,228,500 Not Parked 69.18% $244,646,509 Parked 23.19% $82,001,276 Site Built 7.63% $27,000,838 Fixed Rate Collateral 99.70% 352,574,985.34 Adjustable Rate Collateral 0.30% 1,073,638.77 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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ Geographical Distribution of Manufactured Homes as of Origination
Aggregate Principal Number of Contracts as of Balance Outstanding as of Percent of State Cut-off Date Cut-off Date Total - ------------------------------------------------------------------------------------------------ Alabama 275 10,087,473.45 2.85 Arizona 123 5,300,844.13 1.50 Arkansas 201 8,879,506.80 2.51 California 179 9,563,831.86 2.70 Colorado 97 4,010,409.49 1.13 Connecticut 2 120,162.68 0.03 Delaware 23 861,648.63 0.24 Florida 492 20,903,292.08 5.91 Georgia 292 12,416,716.69 3.51 Idaho 18 1,021,421.07 0.29 Illinois 50 2,704,672.38 0.76 Indiana 228 7,042,133.17 1.99 Iowa 27 787,122.61 0.22 Kansas 48 1,767,091.76 0.50 Kentucky 475 17,906,209.34 5.06 Louisiana 309 11,367,773.40 3.21 Maine 1 85,174.54 0.02 Maryland 38 1,356,702.95 0.38 Massachusetts 3 223,919.37 0.06 Michigan 290 10,745,566.80 3.04 Minnesota 44 1,938,545.37 0.55 Mississippi 193 7,112,044.42 2.01 Missouri 163 5,370,979.97 1.52 Montana 5 180,223.35 0.05 Nebraska 4 122,747.28 0.03 Nevada 11 605,529.66 0.17 New Hampshire 2 62,379.78 0.02 New Jersey 23 1,669,035.04 0.47 New Mexico 73 2,645,035.54 0.75 New York 93 5,367,017.17 1.52 North Carolina 1,007 42,619,443.72 12.05 North Dakota 6 270,069.54 0.08 Ohio 169 6,020,539.92 1.70 Oklahoma 130 5,552,198.89 1.57 Oregon 50 3,615,074.25 1.02 Pennsylvania 87 4,061,111.09 1.15 Rhode Island 7 446,189.47 0.13 South Carolina 547 21,652,305.99 6.12 South Dakota 19 1,098,623.48 0.31 Tennessee 976 37,844,025.42 10.70 Texas 1,543 58,545,463.57 16.55 Utah 7 290,200.98 0.08 Virginia 321 12,789,830.47 3.62 Washington 29 1,972,388.55 0.56 West Virginia 92 3,433,242.16 0.97 Wisconsin 17 527,357.93 0.15 Wyoming 19 648,115.61 0.18 Other 1 37,232.29 0.01 =========================== =========================== ============================ ============ TOTAL 8,809 353,648,624.11 100.00
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ Years of Origination of Contracts Number of Aggregate Principal Percent of Contracts as Balance Outstanding Contract Date of Cut-off Date as of Cut-off Date Total - -------------------------------------------------------------------------- 1991 2 29,261.94 0.01 1992 2 40,215.23 0.01 1993 8 121,010.21 0.03 1994 1 14,220.30 0.00 1995 7 369,878.66 0.10 1996 31 1,347,083.96 0.38 1997 47 1,580,656.93 0.45 1998 135 5,523,620.53 1.56 1999 1,158 53,782,608.11 15.21 2000-Jan 226 9,498,679.21 2.69 2000-Feb 242 9,925,172.49 2.81 2000-Mar 326 13,974,978.11 3.95 2000-Apr 289 11,879,010.23 3.36 2000-May 358 15,249,132.29 4.31 2000-Jun 290 13,053,280.12 3.69 2000-Jul 220 9,639,057.73 2.73 2000-Aug 191 8,331,339.00 2.36 2000-Sep 140 6,816,254.43 1.93 2000-Oct 913 34,784,939.31 9.84 2000-Nov 1,836 68,638,705.23 19.41 2000-Dec 1,648 62,720,046.44 17.74 2001-Jan 739 26,329,473.65 7.45 ========================================================================== TOTAL 8,809 353,648,624.11 100.00 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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------ Distribution of Original Amounts
Number of Contracts as Aggregate Principal of Cut-off Balance Outstanding as Percent of Range of Original Principal Balance Date of Cut-off Date Total - ----------------------------------------------------------------------------------------------------- $ 0.00 - $ 5,000.00 1 4,645.00 0.00 $ 5,000.01 - $ 10,000.00 97 762,373.28 0.22 $ 10,000.01 - $ 15,000.00 420 5,285,826.05 1.49 $ 15,000.01 - $ 20,000.00 588 10,219,705.03 2.89 $ 20,000.01 - $ 25,000.00 803 17,872,629.65 5.05 $ 25,000.01 - $ 30,000.00 1,106 30,240,705.48 8.55 $ 30,000.01 - $ 35,000.00 1,184 38,057,257.54 10.76 $ 35,000.01 - $ 40,000.00 968 35,868,559.23 10.14 $ 40,000.01 - $ 45,000.00 705 29,669,626.68 8.39 $ 45,000.01 - $ 50,000.00 657 30,956,576.35 8.75 $ 50,000.01 - $ 55,000.00 526 27,284,417.41 7.72 $ 55,000.01 - $ 60,000.00 449 25,592,509.81 7.24 $ 60,000.01 - $ 65,000.00 395 24,469,764.23 6.92 $ 65,000.01 - $ 70,000.00 254 17,025,370.64 4.81 $ 70,000.01 - $ 75,000.00 177 12,703,157.15 3.59 $ 75,000.01 - $ 80,000.00 104 8,009,538.74 2.26 $ 80,000.01 - $ 85,000.00 77 6,323,799.72 1.79 $ 85,000.01 - $ 90,000.00 56 4,874,353.00 1.38 $ 90,000.01 - $ 95,000.00 41 3,774,909.57 1.07 $ 95,000.01 - $ 100,000.00 37 3,580,898.38 1.01 $ 100,000.01 - $ 105,000.00 34 3,474,573.42 0.98 $ 105,000.01 - $ 110,000.00 12 1,233,636.82 0.35 $ 110,000.01 - $ 115,000.00 13 1,455,628.61 0.41 $ 115,000.01 - $ 120,000.00 14 1,625,534.43 0.46 $ 120,000.01 - $ 125,000.00 5 608,890.28 0.17 $ 125,000.01 - $ 130,000.00 16 1,994,928.54 0.56 $ 130,000.01 - $ 135,000.00 14 1,844,779.64 0.52 $ 135,000.01 - $ 140,000.00 8 1,097,050.64 0.31 $ 140,000.01 - $ 145,000.00 3 422,028.00 0.12 $ 145,000.01 - $ 150,000.00 8 1,177,331.79 0.33 $ 150,000.01 - $ 155,000.00 6 910,460.08 0.26 $ 155,000.01 - $ 160,000.00 10 1,540,098.25 0.44 $ 160,000.01 - $ 165,000.00 3 482,118.74 0.14 $ 165,000.01 - $ 170,000.00 3 502,674.40 0.14 $ 170,000.01 or greater 15 2,702,267.53 0.76 ====================================================================================================== TOTAL 8,809 353,648,624.11 100.00
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. 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 2001-A $[353,648,623] (approximate) - ------------------------------------------------------------------------------
Distribution of Original Loan-to-Value Ratios Number of Aggregate Principal Contracts as of Balance Outstanding as Percent Range of Loan To Values Cut-off Date of Cut-off Date of Total - -------------------------------------------------------------------------------------------- 0.01% - 20.00% 5 106,616.56 0.03 20.01% - 30.00% 13 212,869.94 0.06 30.01% - 40.00% 40 816,379.20 0.23 40.01% - 50.00% 72 1,806,550.34 0.51 50.01% - 60.00% 190 6,195,102.04 1.75 60.01% - 70.00% 469 16,531,901.98 4.67 70.01% - 80.00% 1,076 45,426,553.61 12.85 80.01% - 90.00% 2,704 116,437,559.35 32.92 90.01% - 100.00% 4,240 166,115,091.09 46.97 ============================================================================================ TOTAL 8,809 353,648,624.11 100.00
Cut-off Date Contract Rate Number of Aggregate Principal Range of Contracts by Contracts as of Balance Outstanding as Percent of Contracts Rate Cut-off Date of Cut-off Date Total - ------------------------------------------------------------------------------------------ 0.000% - 8.000% 83 4,652,008.76 1.32 8.001% - 9.000% 272 15,162,581.67 4.29 9.001% - 10.000% 1,358 70,272,004.23 19.87 10.001% - 11.000% 2,300 102,777,879.83 29.06 11.001% - 12.000% 1,462 61,545,637.34 17.40 12.001% - 13.000% 1,038 35,802,419.62 10.12 13.001% - 14.000% 1,397 40,406,635.73 11.43 14.001% - 15.000% 586 15,822,593.18 4.47 15.001% - 16.000% 276 6,623,828.32 1.87 16.001% - 17.000% 26 451,686.60 0.13 17.001% - 18.000% 9 112,742.21 0.03 18.001% - 19.000% 1 7,357.12 0.00 19.001% - 20.000% 1 11,249.50 0.00 ============================================================================================= TOTAL 8,809 353,648,624.11 100.00
Remaining Months to Maturity Number of Aggregate Principal Months Remaining as of Contracts as of Balance Outstanding Percent of Cut-off Date Cut-off Date as of Cut-off Date Total - ------------------------------------------------------------------------------------------- 1 - 72 167 2,315,001.56 0.65 73 - 84 192 3,016,394.64 0.85 85 - 120 619 12,962,116.21 3.67 121 - 156 504 13,144,628.08 3.72 157 - 180 1,461 43,767,310.86 12.38 181 - 240 2,559 102,211,049.18 28.90 241 - 300 1,267 55,384,066.19 15.66 301 - 360 2,040 120,848,057.39 34.17 =========================================================================================== TOTAL 8,809 353,648,624.11 100.00
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 Bear, Stearns & Co. Inc. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston and Bear, Stearns & Co. Inc. make no representations that the above referenced security will actually perform as described in any scenario presented. PAGE 19 -----END PRIVACY-ENHANCED MESSAGE-----