-----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, QpfoWKKOu+hF7XBSKRTo49w6Sc2G4givjoT1pHz301AzmYu3E3/6wUir8wpbEaKc YPatQUrZO6mR3XB5/bWhog== 0001024739-98-000251.txt : 19980317 0001024739-98-000251.hdr.sgml : 19980317 ACCESSION NUMBER: 0001024739-98-000251 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980310 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980313 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST ALLIANCE MORTGAGE CO /DE/ CENTRAL INDEX KEY: 0000906938 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 952944875 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-11947 FILM NUMBER: 98565366 BUSINESS ADDRESS: STREET 1: 17305 VON KARMAN AVE STREET 2: SUITE 5000 CITY: IRVINE STATE: CA ZIP: 92714 BUSINESS PHONE: 7142248400 MAIL ADDRESS: STREET 1: 17305 VON KARMAN AVE CITY: IRVINE STATE: CA ZIP: 92714 FORMER COMPANY: FORMER CONFORMED NAME: FIRST ALLIANCE CORP /DE/ DATE OF NAME CHANGE: 19961104 FORMER COMPANY: FORMER CONFORMED NAME: FIRST ALLIANCE MORTGAGE CO /CA/ DATE OF NAME CHANGE: 19940908 8-K 1 FORM 8-K =============================================================================== 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) --------------------------------------------------- March 10, 1998 First Alliance Mortgage Company ----------------------------------------------------- (Exact name of registrant as specified in its charter) California 333-44585 95-2944875 - ---------------------------- ---------------- -------------------- (State or Other Jurisdiction (Commission File (I.R.S. Employer of Incorporation) Number) Identification No.) 17305 Von Karman Avenue Irvine, California 92614-6203 - ---------------------------------------- --------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: --------------------------------------------------- (714) 224-8400 No Change ------------------------------------------------------------- (Former name or former address, if changed since last report) =============================================================================== Item 5. Other Events. In connection with the offering of First Alliance Mortgage Company Mortgage Loan Asset Backed Notes, Series 1998-1F, described in a Prospectus Supplement dated as of March 10, 1998, certain AComputational Materials@ within the meaning of the May 20, 1994 Kidder, Peabody No-Action Letter and the February 17, 1995 Public Securities Association No-Action Letter were furnished to certain prospective investors. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Not applicable (b) Not applicable (c) Exhibits: 99.1 Computational Materials provided by First Union Capital Markets Corp. in connection with sales efforts related to the Registrant's securities. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. By: FIRST ALLIANCE MORTGAGE COMPANY, as Company By: /s/ Mark K. Mason ------------------------------ Name: Mark K. Mason Title: Executive Vice President and Chief Financial Officer Dated: March 10, 1998 EX-99.1 2 PRELIMINARY MARKETING MATERIALS Exhibit 99.1 First Alliance Mortgage Loan Trust 1998-1F $55,400,000 Fixed Rate Notes Preliminary Marketing Materials The attached Marketing Memorandum (the AMarketing Memorandum@) is privileged and confidential and is intended for use by the addressee only. This Marketing Memorandum is furnished to you solely by First Union Capital Markets (the AUnderwriter@) and not by the issuer of the notes identified above (the ANotes@) or any other party. The Marketing Memorandum is based upon information made available to the Underwriter. Neither the Underwriter, the issuer of the Offered Notes, nor any other party makes any representation to the accuracy or completeness of the information therein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. The information herein may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purpose of evaluating such information. No assurance can be given as to the accuracy, appropriateness or completeness of the Marketing Memorandum in any particular context; or as to whether the Marketing Memorandum reflects future performance. This Marketing Memorandum should not be construed as either a prediction or as legal, tax, and financial or accounting advice. Any yields or weighted average lives shown in the Marketing Memorandum are based on prepayment and other assumptions and actual experience may dramatically affect such yields or weighted average lives. The principal amount and designation of any security described in the term sheet are subject to change prior to issuance. Although a registration statement (including the prospectus) relating to the Offered Notes has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the Offered Notes has not been filed with the Securities and Exchange Commission. This communication shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the Offered Notes 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. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the Offered Notes for definitive terms of the Offered Notes and the collateral. Please be advised that Offered Notes may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risks. Investors should fully consider the risk of an investment in these Offered Notes. If you have received this communication in error, please notify the sending party immediately by telephone and return the original to such party by mail. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo Title of Securities: Fixed Rate Mortgage Loan Asset Backed Notes, Series 1998-1F Note Issuer: First Alliance Mortgage Loan Trust 1998-1F Seller: First Alliance Mortgage Company Servicer: First Alliance Mortgage Company Securities Offered: Amount: 55,400,000 Collateral: Fixed Rate Mortgage Loans Cut-off Date: 03/01/98 Prepayment Assumption: 27% HEP Coupon: TBD Approximate Price: Par (to 10% Call) Spread: TBD Avg. Life (at 27% HEP): 3.156 (to maturity) Avg. Life (at 27% HEP): 2.918 (to 10% Call) Interest rate basis: 30/360 Expected maturity: 12/20/13 (to maturity) Expected maturity: 06/20/05 (to 10% Call) Stated Maturity: 06/20/29 Dated Date: 03/01/98 Payment Delay: 19 days Pricing Date: TBD Settlement Date: On or about March 27, 1998. First Payment Date: 04/20/98 Rating (S&P/Moody's): AAA/Aaa Description of the Notes: The Notes represent non-recourse obligations of the Issuer and are secured by the assets of the Trust, which will include (i) mortgage loans, (ii) all payments of principal and interest thereon other than prior to the Cut-off Date, (iii) security interests in the mortgaged properties, (iv) the Issuer's rights under the Sale and Servicing Agreement, (v) the Note Insurance Policy and (vi) certain other property.
- ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo Indenture Trustee: The Chase Manhattan Bank Owner Trustee: Wilmington Trust Company Note Insurer: MBIA Insurance Corporation ("MBIA"). The claims-paying ability of MBIA is rated "AAA" by Standard & Poor's and "Aaa" by Moody's. Note Insurance Policy: The insurance policy of MBIA guarantees the timely payment of interest and the ultimate payment of principal on the Notes. Credit Enhancement: 1. Monthly Excess Spread 2. Overcollateralization 3. Insurance policy Servicing Fee: 50 bps per annum Trustee Fee: [2] bps Form of Notes: Book-Entry Form, delivered through the facilities of DTC, Cedel, and Euroclear against payment in immediately available funds. Payment Date: The 20th day of each month or, if such day is not a business day, the next succeeding business day, beginning April 20, 1998. Overcollateralization: The credit enhancement provisions are intended to provide for the limited acceleration of the Notes relative to the amortization of the related collateral. Accelerated amortization is achieved by applying excess cash collected on the collateral to the payment of principal of the Notes, resulting in the build up of overcollateralization (O/C). By paying down the principal balance of the Notes 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 Notes is created. Excess cash 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. Optional Redemption: The Notes may be redeemed, in full but not in part, at the option of the Majority Residual holder on or after the first Payment Date on which the Aggregate Principal Balance of the Mortgage Loans in the Mortgage Pool has declined to 10% or less of the Original Pool Balance. In addition, the Note Insurer will have rights, under limited circumstances, to effect a redemption of the Notes and terminate the Indenture. Coupon Step-up: If the 10% Clean-up Call (Optional Redemption) is not exercised, the coupon on the Notes will step up by [50] basis points. Interest Accrual: Interest on the Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest will accrue during the calendar month immediately preceding the month on which the Payment Date occurs. Note Interest: An amount equal to interest accrued during the related interest period at the Note Interest Rate on the Note Principal Balance as of the preceding Payment Date.
- ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo Monthly Principal: The Note holders will receive monthly payments of principal on each payment date which generally will reflect collections of principal during the prior calendar month. The principal payment amount with respect to each Payment Date shall be the lesser of: (a) The Total Available Funds plus any Insured Payments minus the Current Interest; and (b) (i) the sum, without any duplication of: (a) the Carry-Forward Amount; (b) the principal portion of all scheduled monthly payments on the Mortgage Loans due during the related Due Period (whether received or advanced) and the principal portion of all full and partial principal prepayments made by the respective Mortgagors during the related Remittance Period; (c) the scheduled principal balance of each Mortgage Loan repurchased on the related Remittance Date; (d) any Substitution Amounts delivered in connection with a substitution of a Mortgage Loan (to the extent such Substitution Amounts relate to principal); (e) all Net Liquidation Proceeds collected by the Servicer with respect to the Mortgage Loans during the related Remittance Period (to the extent such Net Liquidation Proceeds relate to principal); (f) the amount of any Subordination Deficit for such Payment Date; (g) the proceeds of any termination of the Trust Estate (to the extent such proceeds relate to principal); (h) any moneys released from the Pre-Funding Account as a prepayment of the Notes on the Payment Date which immediately follows the end of Funding Period; and (i) the amount of any Subordination Increase Amount for such Payment Date consisting of the amount of any Net Monthly Excess Cash Flow to be actually applied for the accelerated payment of principal on the Notes; minus (ii) the amount of any Subordination Reduction Amount for such Payment Date consisting of the amount of any Net Monthly Excess Cash Flow to be actually paid to the Owners of the Residual Interests. Carry-Forward Amount: The sum of (a) the amount by which the Monthly Payment Amount as of the immediately preceding Payment Date exceeded the amount of the actual payment made to the Note holders on such Payment Date plus (b) 30 days' interest on the interest portion of such amount, calculated at the Note Rate.
- ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo Subordination Deficit: The amount, if any, by which (a) the Note Principal Balance, after taking into account all payments to be made on such Payment Date, exceeds (b) the sum of (i) the aggregate principal balances of the Mortgage Loans as of the close of business on the Due Date in the calendar month in which such Payment Date occurs and (ii) the amount, if any, on deposit in the Pre-Funding Account as of the close of business on the Due Date in the calendar month in which such Payment Date occurs. Pre-Funding Account: The initial mortgage pool as of the closing date will have aggregate principal balance of approximately $42.5 million as of the March 1, 1998 cut-off date. Additional mortgage loans with characteristics similar to those of the initial mortgage pool are expected to be transferred to the Trust no later than March 31, 1998, in exchange for release of funds from the Pre-Funding Account. Capitalized Interest: On the closing date, cash in an amount satisfactory to the Note Insurer will be deposited into a trust account for the benefit of the Note holders to ensure payments of interest on the Pre-funded amount during the Funding Period. ERISA Considerations: The Notes may be purchased by employee benefit plans that are subject to the Employee Retirement Income Security Act of 1974, as amended. Investors should consult their counsel with respect to limitations on acquisition and ownership of the Notes and consequences thereof. SMMEA: The Notes will NOT constitute "mortgage related securities" for purposed of the Secondary Mortgage Market Enhancement Act of 1984 ("SMMEA"). Taxation: The Notes will be treated as debt obligations for tax purposes. No REMIC election will be made.
For more information contact Russ Andrews at (704) 374-3472, Wallace Saunders at (704) 383-4868 or David Duque at (704) 383-5525. - ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo CURRENT BALANCE: $55,400,000.00 DATED DATE: 03/01/98 COUPON: TED FIRST PAYMENT: 04/20/98 FACTOR: 1.0000000000 TOTAL CLASSES: 1 ORIGINAL BALANCE: $55,400,000.00
BOND A1 BE-YIELD TABLE TO 10% CLEAN-UP CALL PREPAYMENT SPEED
21% 23% 27% 31% 33% 50% PRICE HEP HEP HEP HEP HEP HEP 98- 0 7.402 7.445 7.534 7.624 7.671 8.107 98- 4 7.360 7.399 7.481 7.565 7.608 8.010 98- 8 7.317 7.353 7.428 7.505 7.545 7.913 98-12 7.275 7.308 7.376 7.446 7.481 7.816 98-16 7.232 7.262 7.323 7.386 7.419 7.720 98-20 7.190 7.217 7.271 7.327 7.356 7.624 98-24 7.148 7.171 7.219 7.268 7.293 7.528 98-28 7.106 7.126 7.167 7.209 7.231 7.432 99- 0 7.064 7.081 7.115 7.150 7.168 7.337 99- 4 7.022 7.036 7.063 7.092 7.106 7.242 99- 8 6.980 6.991 7.011 7.033 7.044 7.147 99-12 6.939 6.946 6.960 6.975 6.982 7.052 99-16 6.897 6.901 6.909 6.916 6.920 6.958 99-20 6.856 6.856 6.857 6.858 6.859 6.863 99-24 6.814 6.812 6.806 6.800 6.797 6.769 99-28 6.773 6.767 6.755 6.742 6.736 6.676 *100- 0 6.732 6.723 6.704 6.685 6.675 6.582 100- 4 6.691 6.679 6.653 6.627 6.614 6.489 100- 8 6.650 6.634 6.603 6.570 6.553 6.396 100-12 6.609 6.590 6.552 6.512 6.492 6.303 100-16 6.568 6.546 6.501 6.455 6.431 6.210 100-20 6.528 6.503 6.451 6.398 6.371 6.117 100-24 6.487 6.459 6.401 6.341 6.311 6.025 100-28 6.447 6.415 6.351 6.284 6.250 5.933 101- 0 6.406 6.372 6.301 6.228 6.190 5.841 101- 4 6.366 6.328 6.251 6.171 6.130 5.750 101- 8 6.326 6.285 6.201 6.115 6.071 5.658 101-12 6.286 6.242 6.151 6.059 6.011 5.567 101-16 6.245 6.198 6.102 6.002 5.951 5.476 101-20 6.206 6.155 6.052 5.946 5.892 5.385 101-24 6.166 6.112 6.003 5.890 5.833 5.294 101-28 6.126 6.069 5.954 5.835 5.774 5.204 AVG LIFE 3.768 3.440 2.918 2.525 2.362 1.473 DURATION 3.026 2.807 2.445 2.158 2.035 1.331 FIRST PAY 4/98 4/98 4/98 4/98 4/98 4/98 LAST PAY 8/07 10/06 6/05 6/04 1/04 9/01
- ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo CURRENT BALANCE: $55,400,000.00 DATED DATE: 03/01/98 COUPON: TED FIRST PAYMENT: 04/20/98 FACTOR: 1.0000000000 TOTAL CLASSES: 1 ORIGINAL BALANCE: $55,400,000.00
BOND A1 BE-YIELD TABLE TO 10% CLEAN-UP CALL PREPAYMENT SPEED
21% 23% 27% 31% 33% 50% PRICE HEP HEP HEP HEP HEP HEP 98- 0 7.401 7.442 7.526 7.612 7.656 8.064 98- 4 7.360 7.398 7.475 7.555 7.595 7.972 98- 8 7.319 7.354 7.425 7.498 7.535 7.881 98-12 7.278 7.310 7.375 7.442 7.475 7.790 98-16 7.238 7.266 7.325 7.385 7.416 7.699 98-20 7.197 7.223 7.275 7.329 7.356 7.609 98-24 7.157 7.179 7.226 7.273 7.297 7.519 98-28 7.116 7.136 7.176 7.217 7.237 7.429 99- 0 7.076 7.093 7.127 7.161 7.178 7.339 99- 4 7.036 7.050 7.077 7.105 7.119 7.249 99- 8 6.996 7.007 7.028 7.050 7.061 7.160 99-12 6.956 6.964 6.979 6.994 7.002 7.071 99-16 6.916 6.921 6.930 6.939 6.943 6.982 99-20 6.877 6.878 6.882 6.884 6.885 6.893 99-24 6.837 6.836 6.833 6.829 6.827 6.805 99-28 6.797 6.793 6.784 6.774 6.769 6.716 *100- 0 6.758 6.751 6.736 6.719 6.711 6.628 100- 4 6.719 6.709 6.688 6.665 6.653 6.541 100- 8 6.680 6.667 6.639 6.610 6.595 6.453 100-12 6.640 6.625 6.591 6.556 6.538 6.366 100-16 6.601 6.583 6.544 6.502 6.480 6.279 100-20 6.562 6.541 6.496 6.448 6.423 6.192 100-24 6.524 6.499 6.448 6.394 6.366 6.105 100-28 6.485 6.457 6.400 6.340 6.309 6.019 101- 0 6.446 6.416 6.353 6.287 6.252 5.932 101- 4 6.408 6.375 6.306 6.233 6.196 5.846 101- 8 6.369 6.333 6.258 6.180 6.139 5.761 101-12 6.331 6.292 6.211 6.127 6.083 5.675 101-16 6.293 6.251 6.164 6.074 6.027 5.590 101-20 6.255 6.210 6.117 6.021 5.971 5.505 101-24 6.217 6.169 6.071 5.968 5.915 5.420 101-28 6.179 6.128 6.024 5.915 5.859 5.335 AVG LIFE 4.064 3.714 3.156 2.729 2.552 1.589 DURATION 3.160 2.940 2.572 2.277 2.150 1.415 FIRST PAY 4/98 4/98 4/98 4/98 4/98 4/98 LAST PAY 4/18 9/16 12/13 12/11 1/11 12/05
- ------------------------------------------------------------------------------ THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Initial Collateral Rep Lines
Type Pool Num Balance Aterm Oterm WAM WAC LTV CLTV Count - -------------------------------------------------------------------------------------------------------------------- FXD less 180 1 82,962.58 120.0000 120.0000 118.4156 11.7245 30.4316 21.8519 3 FXD 180 2 2,470,451.71 180.0000 180.0000 177.4041 10.1461 37.8180 39.6859 47 Ball 3 2,101,894.70 360.0000 180.0921 177.1383 11.1172 45.1140 48.2206 36 FXD 240 4 4,035,437.11 190.2090 191.5497 189.5446 9.8889 49.8683 50.7612 67 FXD less 360 5 33,799,353.75 329.2315 360.4825 356.3088 9.7814 57.2622 57.2622 409 - -------------------------------------------------------------------------------------------------------------------- 42,490,099.85 562 - --------------------------------------------------------------------------------------------------------------------
Total Collateral Rep Lines (including prefunded loans)
Type Pool Num Balance Aterm Oterm WAM WAC LTV CLTV Count - -------------------------------------------------------------------------------------------------------------------- FXD less 180 1 82,962.58 120.0000 120.0000 118.4156 11.7245 30.4316 21.8519 3 FXD 180 2 2,470,451.71 180.0000 180.0000 177.4041 10.1461 37.8180 39.6859 47 Ball 3 2,101,894.70 360.0000 180.0921 177.1383 11.1172 45.1140 48.2206 36 FXD 240 4 4,035,437.11 190.2090 191.5497 189.5446 9.8889 49.8683 50.7612 67 FXD less 360 5 33,799,353.75 329.2315 360.4825 356.3088 9.7814 57.2622 57.2622 409 FXD 360 6 9,599,687.40 360.0000 360.0000 360.0000 9.7000 58.0000 58.0000 116 FXD less 360 7 3,310,212.75 360.0000 360.0000 356.0000 10.0000 49.0000 49.0000 50 - -------------------------------------------------------------------------------------------------------------------- 55,400,000.00 728 - --------------------------------------------------------------------------------------------------------------------
First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo - ------------------------------------------------------------------------------- - First Alliance - Cut Off Date of Tape is 03/01/98 - FIXED RATE COLLATERAL - $42,490,099.85 - Home Equity Loans Summary Report - ------------------------------------------------------------------------------- Number of Mortgage Loans: 562 Aggregate Unpaid Principal Balance: $42,490,099.85 Average Unpaid Principal Balance: $75,605.15 Maximum Unpaid Principal Balance: $276,240.00 Minimum Unpaid Principal Balance: $10,979.88 Weighted Average Gross Coupon: 9.883% Gross Coupon Range: 7.990% - 15.500% Weighted Avg. Stated Rem. Term (LPD to Mat/Bln Date): 320.741 Stated Rem. Term Range: 118.000 - 360.000 Weighted Average Original Term: 324.552 Original Term Range: 120.000 - 363.000 Weighted Average LTV: 54.776% LTV Range: 6.040 - 80.000% Weighted Average Combined LTV: 55.126% Combined LTV Range: 6.040 - 80.000% Weighted Average Junior Lien Ratio 99.290% Percentage of First Mortgages 98.411% Percentage of Second Mortgages 1.589%
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER.IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
Aggregate Percentage Original Number of Unpaid of Aggregate CLTV Mortgage Principal Principal Ratio Loans Balance Balance 5.01 - 10.00 3 66,982.66 0.16 10.01 - 15.00 6 124,598.12 0.29 15.01 - 20.00 13 380,922.41 0.90 20.01 - 25.00 27 1,061,470.71 2.50 25.01 - 30.00 20 865,986.72 2.04 30.01 - 35.00 40 2,119,164.66 4.99 35.01 - 40.00 37 2,258,448.59 5.32 40.01 - 45.00 50 3,293,969.87 7.75 45.01 - 50.00 72 4,843,904.29 11.40 50.01 - 55.00 68 4,989,227.70 11.74 55.01 - 60.00 70 5,785,925.62 13.62 60.01 - 65.00 52 4,973,479.25 11.71 65.01 - 70.00 48 5,363,530.73 12.62 70.01 - 75.00 42 4,975,870.38 11.71 75.01 - 80.00 14 1,386,618.14 3.26 - ------------------------------------------------------------------------------ Total 562 42,490,099.85 100.00% ==============================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
Aggregate Percentage Original Number of Unpaid of Aggregate CLTV Mortgage Principal Principal Ratio Loans Balance Balance 5.01 - 10.00 5 103,849.45 0.2 10.01 - 15.00 11 233,276.63 0.55 15.01 - 20.00 14 430,499.18 0.01 20.01 - 25.00 28 1,089,378.95 2.56 25.01 - 30.00 24 1,108,114.66 2.61 30.01 - 35.00 41 2,177,480.09 5.12 35.01 - 40.00 36 2,208,959.73 5.20 40.01 - 45.00 48 3,224,280.46 7.59 45.01 - 50.00 70 4,720,865.86 11.11 50.01 - 55.00 66 4,926,365.73 11.59 55.01 - 60.00 65 5,637,013.69 13.27 60.01 - 65.00 50 4,903,996.17 11.54 65.01 - 70.00 48 5,363,530.73 12.62 70.01 - 75.00 42 4,975,870.38 11.71 75.01 - 80.00 14 1,386,618.14 3.26 - ------------------------------------------------------------------------------- Total 562 42,490,099.85 100.00% ==============================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------- THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo ORIGINAL JUNIOR LEIN RATIOS
Aggregate Percentage Number of Unpaid of Aggregate Junior Lien Mortgage Principal Principal Ratio Loans Balance Balance 10.01 - 20.00 1 13,887.26 0.03 20.01 - 30.00 5 116,873.36 0.28 30.01 - 40.00 2 74,269.69 0.17 40.01 - 50.00 1 18,000.00 0.04 50.01 - 60.00 4 226,004.01 0.53 60.01 - 70.00 1 22,979.53 0.05 70.01 - 80.00 1 49,488.86 0.12 80.01 - 90.00 4 153,796.75 0.36 90.01 -100.00 543 41,814,800.39 98.41 - ------------------------------------------------------------------------------- 562 42,490,099.85 100.00% ===============================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------ THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo GROSS MORTGAGE INTEREST RATE RANGE
Aggregate Percentage Number of Unpaid of Aggregate Gross Mortgage Mortgage Principal Principal Interest Rate Loans Balance Balance 7.51 - 8.00 5 414,247.73 0.97 8.01 - 8.50 33 2,632,044.85 6.19 8.51 - 9.00 94 8,302,995.58 19.54 9.01 - 9.10 107 8,681,063.21 20.43 9.51 - 10.00 142 10,892,466.42 25.54 10.01 - 10.50 49 3,152,033.60 7.42 10.51 - 11.00 66 4,482,120.84 10.55 11.01 - 11.50 10 548,762.63 1.29 11.51 - 12.00 16 945,457.60 2.33 12.01 - 12.50 8 487,132.90 1.15 12.51 - 13.00 15 846,895.47 1.99 13.01 - 13.50 5 243,141.21 0.57 13.51 - 14.00 7 496,002.44 1.17 14.01 - 14.50 2 149,926.13 0.35 14.51 - 15.00 2 160,830.73 0.38 15.01 - 15.50 1 54,978.51 0.13 - ------------------------------------------------------------------------------- 562 42,490,099.85 100.00% ===============================================================================
STATUS OF MORTGAGE LOANS
Aggregate Percentage Number of Unpaid of Aggregate Occupancy Mortgage Principal Principal Status Loans Balance Balance Owner Occupied 546 41,546,270.13 97.78 Investment/ Non-Owner Occupied 16 943,829.72 2.22 - ------------------------------------------------------------------------------ Total 562 42,490,099.85 100.00% ==============================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------ THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES
Aggregate Percentage Number of Unpaid of Aggregate Mortgage Principal Principal State Loans Balance Balance Arizona 4 227,552.99 0.54 California 137 12,040,227.88 28.34 Colorado 14 804,329.90 1.89 Connecticut 1 44,891.04 0.11 District of Columbia 3 113,363.00 0.27 Florida 44 2,753,130.38 6.48 Georgia 11 764,648.07 1.80 Idaho 1 82,032.44 0.19 Illinois 53 3,657,397.00 8.61 Maryland 22 1,552,775.06 3.65 Massachusetts 7 506,679.65 1.19 Minnesota 7 470,076.70 1.11 New Jersey 54 4,305,634.24 10.13 New York 125 8,492,924.56 19.99 Ohio 7 515,228.25 1.21 Oregon 18 1,365,500.46 3.21 Pennsylvania 20 1,876,177.58 4.42 Utah 7 645,540.69 1.52 Virginia 6 474,055.99 1.12 Washington 21 1,797,933.97 4.23 - -------------------------------------------------------------------------------- 562 42,490,099.85 100.00% ================================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------ THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo PRINCIPAL BALANCES
Aggregate Percentage Number of Unpaid of Aggregate Principal Mortgage Principal Principal Balance Loans Balance Balance 10,000.01 - 15,000.00 6 69,414.85 0.16 15,000.01 - 20,000.00 9 177,296.08 0.42 20,000.01 - 25,000.00 15 338,295.69 0.80 25,000.01 - 30,000.00 20 563,989.26 1.33 30,000.01 - 35,000.00 23 770,118.15 1.81 35,000.01 - 40,000.00 23 866,483.82 2.04 40,000.01 - 45,000.00 30 1,293,051.10 3.04 45,000.01 - 50,000.00 34 1,646,132.10 3.87 50,000.01 - 55,000.00 33 1,750,118.44 4.12 55,000.01 - 60,000.00 26 1,520,417.35 3.58 60,000.01 - 65,000.00 31 1,949,846.57 4.59 65,000.01 - 70,000.00 31 2,111,788.82 4.97 70,000.01 - 75,000.00 34 2,478,256.40 5.83 75,000.01 - 80,000.00 35 2,730,114.06 6.43 80,000.01 - 85,000.00 30 2,476,013.45 5.83 85,000.01 - 90,000.00 26 2,287,765.78 5.38 90,000.01 - 95,000.00 15 1,390,611.85 3.27 95,000.01 - 100,000.00 15 2,239,965.14 5.27 100,000.01 - 125,000.00 70 7,892,895.64 18.58 125,000.01 - 150,000.00 20 2,734,699.93 6.44 150,000.01 - 200,000.00 25 4,249,465.37 10.00 200,000.01 - 250,000.00 2 423,654.00 1.00 250,000.01 - 300,000.00 2 529,706.00 1.25 - -------------------------------------------------------------------------- Total 562 42,490,099.85 100.00% - --------------------------------------------------------------------------
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------ THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. First Alliance Mortgage Loan Trust 1998-1F Preliminary Marketing Memo REMAINING TERMS TO STATED MATURITY
Aggregate Percentage Number of Unpaid of Aggregate Remaining Mortgage Principal Principal Term Loans Balance Balance 109 - 120 3 82,962.58 0.20 169 - 180 139 7,921,151.88 18.64 229 - 240 13 903,099.64 2.13 301 - 312 5 706,495.07 1.66 313 - 324 6 485,684.87 1.14 325 - 336 1 97,061.55 0.23 337 - 348 12 1,163,440.78 2.74 349 - 360 383 31,130,203.48 73.26 - --------------------------------------------------------------- Total 562 42,490,099.85 100.00% ===============================================================
PROPERTY TYPES
T Aggregate Percentage Number of Unpaid of Aggregate Property Mortgage Principal Principal Type Loans Balance Balance Single Family 484 36,910,780.52 86.87 2 - 4 Family 68 4,729,718.12 11.13 CONDO 4 307,938.74 0.72 PUD 6 541,662.47 1.27 - ------------------------------------------------------------------ Total 562 42,490,099.85 100.00% ==================================================================
THIS COLLATERAL TERMSHEET SUPERSEDES ANY PREVIOUS COLLATERAL TERMSHEETS, AND WILL BE SUPERSEDED BY THE COLLATERAL INFORMATION IN THE PROSPECTUS SUPPLEMENT. THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR FIRST UNION CAPITAL MARKETS FINANCIAL ADVISOR IMMEDIATELY. - ------------------------------------------------------------------------------ THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICIATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINEDIN THE FINAL PROSPECTUS AND ACCOMPANYING PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. -----END PRIVACY-ENHANCED MESSAGE-----