EX-99 3 we665075-ex99.txt COLLATERAL TERM SHEETS
------------------------------------------------------------------------------------- WFMBS MORTGAGE LOAN POOL 20-YEAR THROUGH 30-YEAR FIXED RATE RELOCATION MORTGAGES WFMBS SERIES 2002-14 POOL PROFILE (6/10/2002) ------------------------------------------------------------------------------------- ----------------- ----------------- BID TOLERANCE ----------------- ----------------- AGGREGATE PRINCIPAL BALANCE $300,000,000 (+/- 5.00%) MORTGAGE LOAN CUTOFF DATE 1-Jul-02 INTEREST RATE RANGE 5.625% - 7.5% GROSS WAC 6.52% (+5 bps/ -5 Bps%) WEIGHTED AVERAGE SERVICE FEE 25 bps MASTER SERVICING FEE 1.7 bps WAM (in months) 358 (+/- 2 month) WALTV 77% (maximum +3%) CALIFORNIA % 28% (maximum +3%) SINGLE LARGEST ZIP CODE CONCENTRATION 2% (maximum +3%) AVERAGE LOAN BALANCE $435,000 (maximum $450,000) LARGEST INDIVIDUAL LOAN BALANCE $999,118 (maximum $1,500,000) CASH-OUT REFINANCE % 0% (maximum +3%) PRIMARY RESIDENCE % 100% (minimum -3%) SINGLE-FAMILY DETACHED % 93% (minimum -3%) FULL DOCUMENTATION % 30% (minimum -4%) PREPAYMENT PENALTY % 0% (maximum +3%) UNINSURED > 80% LTV % 17% (maximum +3%) TEMPORARY BUYDOWNS 0% (maximum +3%) THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT.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 20-YEAR THROUGH 30-YEAR FIXED RATE RELOCATION MORTGAGES WFMBS SERIES 2002-14 POOL PROFILE (6/10/2002) PRICING INFORMATION ------------------------------------------------------------------------------- RATING AGENCIES TBD by Wells Fargo PASS THRU RATE 6.00% ASSUMED SIZE OF PRINCIPAL ONLY CLASS 0.37% PRICING DATE 10-Jun-02 FINAL STRUCTURE DUE DATE 11-Jul-02 10:00 AM SETTLEMENT DATE 30-Jul-02 ASSUMED SUB LEVELS AAA 2.700% AA 1.350% A 0.850% BBB 0.550% BB 0.350% B 0.200% 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. * 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 2002-14. 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 Mike Miller (301) 815-6397 Gretchen Markley (301) 846-8356 -------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------ WFASC DENOMINATION POLICY ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ MINIMUM PHYSICAL BOOK ENTRY TYPE AND DESCRIPTION OF CERTIFICATES 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 to the Class A, Complex multi-component certificates $100,000 Standard Upon Request 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.