EX-99 3 we659292-ex99.txt COLLATERAL TERM SHEETS ------------------------------------------------------------------------------------------------------ WFMBS MORTGAGE LOAN POOL 10-YEAR THROUGH 15-YEAR FIXED RATE NON-RELOCATION MORTGAGES WFMBS SERIES 2002-11 POOL PROFILE (4/24/2002) ------------------------------------------------------------------------------------------------------
--------------------- ---------------------- BID TOLERANCE --------------------- ---------------------- AGGREGATE PRINCIPAL BALANCE $225,000,000 (+/- 5.00%) MORTGAGE LOAN CUTOFF DATE 1-May-02 INTEREST RATE RANGE 5.250-7.875 GROSS WAC 6.48% (+5 bps/ -5 Bps%) WEIGHTED AVERAGE SERVICE FEE 25 bps MASTER SERVICING FEE 1.7 bps WAM (in months) 178 (+/- 2 month) WALTV 56% (maximum +5%) CALIFORNIA % 41% (maximum 45%) SINGLE LARGEST ZIP CODE CONCENTRATION 3% (maximum +3%) AVERAGE LOAN BALANCE $514,000 (maximum $520,000) LARGEST INDIVIDUAL LOAN BALANCE $1,000,000 (maximum $1,500,000) CASH-OUT REFINANCE % 23% (maximum +5%) PRIMARY RESIDENCE % 93% (minimum -5%) SINGLE-FAMILY DETACHED % 96% (minimum -5%) FULL DOCUMENTATION % 82% (minimum -5%) UNINSURED > 80% LTV % 0% (maximum +1%) THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT. SUCH INFORMATION SUPERSEDES THE INFORMATION IN ALL PRIOR COLLATERAL TERM SHEETS. ------------------------------------------------------------------------------------------------------ (1) All dollar amounts are approximate and all percentages are expressed as approximate percentages of the Aggregate Principal Balance. ------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------- WFMBS MORTGAGE LOAN POOL 10-YEAR THROUGH 15-YEAR FIXED RATE NON-RELOCATION MORTGAGES WFMBS SERIES 2002-11 POOL PROFILE (4/24/2002) PRICING INFORMATION -------------------------------------------------------------------------------------------------------- RATING AGENCIES TBD by Wells Fargo PASS THRU RATE 6.00% ASSUMED SIZE OF PRINCIPAL ONLY CLASS 0.39% PRICING DATE TBA FINAL STRUCTURE DUE DATE 09-May-02 9:00 AM SETTLEMENT DATE 29-May-02 ASSUMED SUB LEVELS AAA 1.400% AA TBA A TBA BBB TBA BB TBA B TBA Note: AAA Class will be rated by two rating agencies. AA through B Classes will be rated by one rating agency. WFASC SECURITIZATION PROGRAM CHANGE BEGINNING WITH DEALS CLOSING IN APRIL 2002 AS FOLLOWS: 1) WELLS FARGO BANK MINNESOTA, N.A. WILL REPLACE FIRST UNION BANK AS CUSTODIAN ONLY. WFASC SECURITIZATION PROGRAM CHANGES BEGINNING WITH DEALS CLOSING IN JANUARY 2002 AS FOLLOWS: 1) ALL SPECIAL HAZARD, BANKRUPTCY & FRAUD LOSSES WILL BE ALLOCATED AS REGULAR REALIZED LOSSES. 2) CURTAILMENT INTEREST SHORTFALL WILL BE ALLOCATED ON A PRO RATA BASIS TO ALL BONDS. 3) SOLDIERS & SAILORS INTEREST SHORTFALL WILL BE ALLOCATED ON A PRO RATA BASIS TO ALL BONDS. * SHOULD MOODY'S PROVIDE A RATING ON THE TRANSACTION, PLEASE NOTE, THE RESIDUAL CLASS WILL NOT BE RATED. -------------------------------------------------------------------------------------------------------- * THIS SECURITY MAY CONTAIN PLEDGED ASSET LOANS. ------------------------------------------------ WFMBS may structure the excess interest as an interest only certificate, or as fixed retained yield or servicing fee which will be excluded from the trust for Series 2002-11. THE PRINCIPAL ONLY CERTIFICATE CREATED BY THE DISCOUNT MORTGAGE LOANS WILL BE INCLUDED IN THE BID ON THE PRICING DATE. WFMBS CONTACTS Brad Davis (301) 846-8009 Lori Maller (301) 846-8185 --------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------- WFASC DENOMINATION POLICY ---------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------- TYPE AND DESCRIPTION OF CERTIFICATES MINIMUM PHYSICAL BOOK ENTRY DENOMINATION CERTIFICATES CERTIFICATES (1)(4) --------------------------------------------------------------------------------------------------------------------------- CLASS A PAC, TAC, Scheduled, Accrual, Sequential, Floaters, NAS, Non-complex $25,000 Allowed Allowed components (subject to reasonable prepayment support) Companion classes for PAC, TAC, Scheduled Classes $100,000 Allowed Allowed Inverse Floater, PO, Subclasses of the Class A that provide credit protection $100,000 Standard Upon Request to the Class A, Complex multi-component certificates Notional and Nominal Face IO (2) Standard Upon Request Residual Certificates (3) Required Not Allowed All other types of Class A Certificates (5) (5) (5) CLASS B (Investment Grade) $100,000 Allowed Allowed CLASS B (Non-Investment Grade) $250,000 Required Not Allowed --------------------------------------------------------------------------------------------------------------------------- (1) WFASC reserves the right to cause certain certificates to be issued in denominations greater than outlined above or in a definitive form to mitigate the risk of a security with complicated cash-flow characteristics being made available to an unsophisticated investor. (2) Notional IO Certificates and Nominal Face IO Certificates will be issued in minimum denominations that ensure a minimum purchase price of $100,000. (3) 100% percentage interest for non-economic residuals. (4) Retail Classes will be analyzed and approved on a case-by-case basis by WFASC. (WFASC does not issue Companion Classes for PAC/TAC/Scheduled Classes in $1000 denominations.) (5) Underwriter must obtain WFASC's approval.