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the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED
BY THE U.K. SECURITIES AND FUTURES AUTHORITY.




----------------------------
DEAL INFO
--------------------------------------------------------------------------------
DEAL NAME                   IXIS 2005-HE1
BLOOMBERG TICKER:           IXIS
ASSET CLASS:                Subprime
ISSUER:                     IXIS Real Estate Inc.
TRUSTEE:                    Deutsche Bank National Trust Company
LEAD MANAGER(S)               MORGAN STANLEY

MONTH:
  To Roll                   22
  Remaining Term            350
  Remaining IO Term         34
--------------------------------------------------------------------------------

----------------------------
 KEY
--------------------------------------------------------------------------------
- Cells in red font are calculations and should be left alone.
- Significant Loans qualifiers are list below each bucket

(i) Fill in top 15 states only, combine the remaining in the "Other" Bucket.
(ii) Extend Fixed / Floating bucket to include all loan types also separate 2/28
from Interest Only (IO) 2/28 and so on. If the concentration of IO's is greater
than 20% please fill out the IO template.


--------------------------------------------------------------------------------



----------------------------------------------------------------------------------------------------------------------
                                                           FICO BUCKET
----------------------------------------------------------------------------------------------------------------------
                               DEAL SIZE                                 WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
               --------------------------------------      WA LOAN    ------------------------------------------------
FICO              # LOANS         BALANCE         %        BALANCE       WAC          FICO     % LTV       % DTI
----------------------------------------------------------------------------------------------------------------------

NA                                            0.00%
               --------------------------------------------------------------------------------------------------------
=<500                 6         1,478,992     0.25%        246,499       8.752         500     65.05       43.17
               --------------------------------------------------------------------------------------------------------
>500 =<520          210        32,014,251     5.48%        152,449       8.785         511     72.40       41.72
               --------------------------------------------------------------------------------------------------------
>520 =<540          223        32,536,683     5.57%        145,904       8.475         531     74.95       41.65
               --------------------------------------------------------------------------------------------------------
>540 =<560          241        34,984,844     5.99%        145,165       8.209         551     76.27       41.06
               --------------------------------------------------------------------------------------------------------
>560 =<580          256        42,601,436     7.29%        166,412       7.829         571     78.82       41.26
               --------------------------------------------------------------------------------------------------------
>580 =<600          334        58,120,115     9.94%        174,012       7.474         591     80.89       41.42
               --------------------------------------------------------------------------------------------------------
>600 =<620          390        65,763,038    11.25%        168,623       7.380         611     81.38       40.46
               --------------------------------------------------------------------------------------------------------
>620 =<640          381        68,173,231    11.66%        178,932       7.290         630     82.87       41.96
               --------------------------------------------------------------------------------------------------------
>640 =<660          369        67,671,409    11.58%        183,391       7.248         650     83.27       42.42
               --------------------------------------------------------------------------------------------------------
>660 =<680          277        45,855,293     7.84%        165,543       7.285         671     83.46       41.49
               --------------------------------------------------------------------------------------------------------
>680 =<700          222        40,277,050     6.89%        181,428       6.922         690     82.35       42.03
               --------------------------------------------------------------------------------------------------------
>700 =<750          317        68,755,280    11.76%        216,894       6.741         723     83.27       42.00
               --------------------------------------------------------------------------------------------------------
>750                116        26,292,101     4.50%        226,656       6.513         770     80.65       39.58
----------------------------------------------------------------------------------------------------------------------
TOTAL             3,342       584,523,723   100.00%        174,902       7.434         629     80.76       41.52
----------------------------------------------------------------------------------------------------------------------



---------------------------------------------------------------------------------------------------
                                      FICO BUCKET
---------------------------------------------------------------------------------------------------
                                     WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
---------------------------------------------------------------------------------------------------
                             NON-         NON       REFI         MI       NINA/NO     INTEREST
FICO                        PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
---------------------------------------------------------------------------------------------------

NA
               ------------------------------------------------------------------------------------
=<500                             -      10.81      91.85           -           -           -
               ------------------------------------------------------------------------------------
>500 =<520                     1.56       6.10      80.94           -           -        1.45
               ------------------------------------------------------------------------------------
>520 =<540                     2.03       7.71      82.90           -           -        1.40
               ------------------------------------------------------------------------------------
>540 =<560                     2.15       8.81      82.30           -           -        1.71
               ------------------------------------------------------------------------------------
>560 =<580                     3.48       8.31      71.80           -           -       10.20
               ------------------------------------------------------------------------------------
>580 =<600                     4.28      10.00      58.58           -           -       21.20
               ------------------------------------------------------------------------------------
>600 =<620                     6.36      11.29      62.02           -        0.17       25.97
               ------------------------------------------------------------------------------------
>620 =<640                     3.67      10.62      54.95           -        1.34       30.20
               ------------------------------------------------------------------------------------
>640 =<660                     5.90      14.44      41.45           -        1.89       35.70
               ------------------------------------------------------------------------------------
>660 =<680                     7.32      15.15      35.87           -        1.29       42.53
               ------------------------------------------------------------------------------------
>680 =<700                     6.98      15.60      30.38           -        0.59       43.83
               ------------------------------------------------------------------------------------
>700 =<750                     5.38      18.42      17.14           -        1.12       60.32
               ------------------------------------------------------------------------------------
>750                           9.20      11.18      11.62           -        0.89       68.56
---------------------------------------------------------------------------------------------------
TOTAL                          4.93      12.03      50.89           -        0.71       30.22
---------------------------------------------------------------------------------------------------


     FICO MEAN:   629         MEDIAN:   621    STANDARD DEVIATION:   67



----------------------------------------------------------------------------------------------------------------------------
                                                        LTV BUCKET
----------------------------------------------------------------------------------------------------------------------------
                                         DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                      -----------------------------------------      WA LOAN   ---------------------------------------------
LTV                    # LOANS              BALANCE         %        BALANCE        WAC         FICO     % LTV      % DTI
----------------------------------------------------------------------------------------------------------------------------

=<50                      101            12,350,258     2.11%        122,280       7.527         588     40.40       38.07
                      ------------------------------------------------------------------------------------------------------
>50 =<55                   41             6,804,629     1.16%        165,967       7.355         589     52.77       39.88
                      ------------------------------------------------------------------------------------------------------
>55 =<60                   70            11,777,789     2.01%        168,254       7.585         583     57.87       38.44
                      ------------------------------------------------------------------------------------------------------
>60 =<65                  133            23,105,490     3.95%        173,725       7.560         588     63.75       41.05
                      ------------------------------------------------------------------------------------------------------
>65 =<70                  176            30,078,581     5.15%        170,901       7.583         592     68.96       40.19
                      ------------------------------------------------------------------------------------------------------
>70 =<75                  237            43,137,188     7.38%        182,013       7.636         589     74.33       41.09
                      ------------------------------------------------------------------------------------------------------
>75 =<80                1,044           221,729,402    37.93%        212,384       6.871         653     79.76       42.19
                      ------------------------------------------------------------------------------------------------------
>80 =<85                  389            76,365,818    13.06%        196,313       7.462         611     84.31       41.92
                      ------------------------------------------------------------------------------------------------------
>85 =<90                  483            90,495,270    15.48%        187,361       7.627         627     89.72       40.91
                      ------------------------------------------------------------------------------------------------------
>90 =<95                  232            37,178,601     6.36%        160,253       7.973         643     94.72       42.09
                      ------------------------------------------------------------------------------------------------------
>95 <100                  436            31,500,697     5.39%         72,249       9.552         665     99.91       41.95
                      ------------------------------------------------------------------------------------------------------
=>100                       -                     -     0.00%              -           -           -         -           -
----------------------------------------------------------------------------------------------------------------------------
TOTAL                   3,342           584,523,723   100.00%        174,902       7.434         629     80.76       41.52
----------------------------------------------------------------------------------------------------------------------------



-----------------------------------------------------------------------------------------
                                 LTV BUCKET
-----------------------------------------------------------------------------------------
                                WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                    ---------------------------------------------------------------------
                       NON-         NON       REFI         MI       NINA/NO     INTEREST
LTV                  PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
-----------------------------------------------------------------------------------------

=<50                   10.33      17.68      93.04           -        0.61        4.90
                    ---------------------------------------------------------------------
>50 =<55                6.79       6.16      89.00           -           -        5.17
                    ---------------------------------------------------------------------
>55 =<60                3.49       7.84      80.96           -        0.80        5.15
                    ---------------------------------------------------------------------
>60 =<65                1.31       7.88      87.70           -        2.42       11.71
                    ---------------------------------------------------------------------
>65 =<70                5.84      12.90      74.19           -        0.91       12.68
                    ---------------------------------------------------------------------
>70 =<75                6.51      13.23      81.68           -        0.27       16.13
                    ---------------------------------------------------------------------
>75 =<80                3.00      13.24      29.97           -        0.16       49.20
                    ---------------------------------------------------------------------
>80 =<85                7.43      10.37      65.80           -           -       28.52
                    ---------------------------------------------------------------------
>85 =<90                9.84      11.12      55.25           -        1.59       25.97
                    ---------------------------------------------------------------------
>90 =<95                1.52      10.14      55.57           -        3.29       12.54
                    ---------------------------------------------------------------------
>95 <100                0.08      13.58      16.62           -           -        8.24
                    ---------------------------------------------------------------------
=>100                      -          -          -           -           -           -
-----------------------------------------------------------------------------------------
TOTAL                   4.93      12.03      50.89           -        0.71       30.22
-----------------------------------------------------------------------------------------


     LTV MEAN:   80.76     MEDIAN:   80.00     STANDARD DEVIATION:   13.08





-----------------------------------------------------------------------------------------------------------------------
                                                      DTI BUCKET
-----------------------------------------------------------------------------------------------------------------------
                                DEAL SIZE                                  WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
               ---------------------------------------      WA LOAN    ------------------------------------------------
DTI             # LOANS          BALANCE         %          BALANCE        WAC         FICO       % LTV     % DTI
-----------------------------------------------------------------------------------------------------------------------

=<20               128          18,197,358     3.11%        142,167       7.649         634     79.28       13.99
               --------------------------------------------------------------------------------------------------------
>20 =<25           131          17,210,818     2.94%        131,380       7.428         622     77.39       22.74
               --------------------------------------------------------------------------------------------------------
>25 =<30           248          33,126,954     5.67%        133,576       7.626         623     78.54       27.64
               --------------------------------------------------------------------------------------------------------
>30 =<35           331          54,248,132     9.28%        163,892       7.413         623     80.79       32.58
               --------------------------------------------------------------------------------------------------------
>35 =<40           512          90,645,635    15.51%        177,042       7.403         632     80.01       37.73
               --------------------------------------------------------------------------------------------------------
>40 =<45           782         140,697,004    24.07%        179,919       7.425         636     81.60       42.75
               --------------------------------------------------------------------------------------------------------
>45 =<50           924         171,861,491    29.40%        185,997       7.419         633     81.75       47.66
               --------------------------------------------------------------------------------------------------------
>50 =<55           260          53,015,080     9.07%        203,904       7.422         612     79.91       52.03
               --------------------------------------------------------------------------------------------------------
>55 =<60            12           2,152,747     0.37%        179,396       7.279         587     73.75       57.14
               --------------------------------------------------------------------------------------------------------
>60                 14           3,368,504     0.58%        240,607       7.064         622     80.18       70.35
-----------------------------------------------------------------------------------------------------------------------
TOTAL            3,342         584,523,723   100.00%        174,902       7.434         629     80.76       41.52
-----------------------------------------------------------------------------------------------------------------------



-------------------------------------------------------------------------------------------
                                             DTI BUCKET
-------------------------------------------------------------------------------------------
                                    WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                        NON-         NON       REFI         MI       NINA/NO     INTEREST
DTI                   PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
-------------------------------------------------------------------------------------------

=<20                   20.32        10.43      55.12           -       22.76       22.65
                    -----------------------------------------------------------------------
>20 =<25                4.80        13.82      63.06           -           -       28.22
                    -----------------------------------------------------------------------
>25 =<30                6.37         9.03      61.33           -           -       21.71
                    -----------------------------------------------------------------------
>30 =<35                4.44        10.66      56.48           -           -       29.07
                    -----------------------------------------------------------------------
>35 =<40                3.44        12.33      47.45           -           -       30.41
                    -----------------------------------------------------------------------
>40 =<45                4.54        12.01      47.98           -           -       31.60
                    -----------------------------------------------------------------------
>45 =<50                4.22        12.86      47.20           -           -       33.88
                    -----------------------------------------------------------------------
>50 =<55                4.77        10.97      57.86           -           -       25.47
                    -----------------------------------------------------------------------
>55 =<60                3.95        13.20      43.21           -           -        9.10
                    -----------------------------------------------------------------------
>60                    12.79        29.34      71.50           -           -       22.70
-------------------------------------------------------------------------------------------
TOTAL                   4.93        12.03      50.89           -        0.71       30.22
-------------------------------------------------------------------------------------------


     DTI MEAN:   41.52     MEDIAN:   42.38   STANDARD DEVIATION:     10.08



----------------------------------------------------------------------------------------------------------------------------
                                                            PURPOSE BUCKET
----------------------------------------------------------------------------------------------------------------------------
                                        DEAL SIZE                                WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     -----------------------------------------       WA LOAN    --------------------------------------------
PURPOSE                # LOANS              BALANCE         %        BALANCE        WAC        FICO       % LTV      % DTI
----------------------------------------------------------------------------------------------------------------------------

Purchase                   1,425        256,120,713    43.82%        179,734       7.188         666     83.75       42.05
                     -------------------------------------------------------------------------------------------------------
Refi (Cash out)            1,718        297,490,368    50.89%        173,161       7.616         601     78.18       41.13
                     -------------------------------------------------------------------------------------------------------
Refi (no Cash)                 -                  -     0.00%              -           -           -         -           -
                     -------------------------------------------------------------------------------------------------------
Refi (Rate Term)             199         30,912,642     5.29%        155,340       7.726         600     80.84       40.97
                     -------------------------------------------------------------------------------------------------------
Consolidation                  -                  -     0.00%              -           -           -         -           -
                     -------------------------------------------------------------------------------------------------------
Other                          -                  -     0.00%              -           -           -         -           -
----------------------------------------------------------------------------------------------------------------------------
TOTAL                      3,342        584,523,723   100.00%        174,902       7.434         629     80.76       41.52
----------------------------------------------------------------------------------------------------------------------------



-------------------------------------------------------------------------------------------
                                   PURPOSE BUCKET
-------------------------------------------------------------------------------------------
                                   WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                      ---------------------------------------------------------------------
                         NON-         NON       REFI         MI       NINA/NO     INTEREST
PURPOSE                 PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
-------------------------------------------------------------------------------------------

Purchase                   5.94      14.70          -           -        0.94       47.99
                      ---------------------------------------------------------------------
Refi (Cash out)            4.30      10.20     100.00           -        0.58       16.59
                      ---------------------------------------------------------------------
Refi (no Cash)                -          -          -           -           -           -
                      ---------------------------------------------------------------------
Refi (Rate Term)           2.70       7.55          -           -           -       14.23
                      ---------------------------------------------------------------------
Consolidation                 -          -          -           -           -           -
                      ---------------------------------------------------------------------
Other                         -          -          -           -           -           -
-------------------------------------------------------------------------------------------
TOTAL                      4.93      12.03      50.89           -        0.71       30.22
-------------------------------------------------------------------------------------------




---------------------------------------------------------------------------------------------------------------------------
                                                       OCCUPANCY BUCKET
---------------------------------------------------------------------------------------------------------------------------
                                     DEAL SIZE                               WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     ---------------------------------------     WA LOAN    -----------------------------------------------
OCC TYPE               # LOANS          BALANCE         %        BALANCE       WAC        FICO       % LTV      % DTI
---------------------------------------------------------------------------------------------------------------------------

Primary (OOC)             3,149     555,679,453    95.07%        176,462       7.420         628     80.78       41.62
                     ------------------------------------------------------------------------------------------------------
Investment                  174      26,032,060     4.45%        149,610       7.680         653     80.07       40.03
                     ------------------------------------------------------------------------------------------------------
2nd / Vacation               19       2,812,209     0.48%        148,011       7.930         637     82.70       35.40
                     ------------------------------------------------------------------------------------------------------
Rental                        -               -     0.00%              -           -           -         -           -
                     ------------------------------------------------------------------------------------------------------
Other                         -               -     0.00%              -           -           -         -           -
---------------------------------------------------------------------------------------------------------------------------
TOTAL                     3,342     584,523,723   100.00%        174,902       7.434         629     80.76       41.52
---------------------------------------------------------------------------------------------------------------------------



----------------------------------------------------------------------------------------------
                                 OCCUPANCY BUCKET
----------------------------------------------------------------------------------------------
                                       WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                       -----------------------------------------------------------------------
                         NON-         NON       REFI         MI       NINA/NO     INTEREST
OCC TYPE                 PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
----------------------------------------------------------------------------------------------

Primary (OOC)                   -      11.12      51.24           -        0.63       31.18
                       -----------------------------------------------------------------------
Investment                 100.00      31.91      45.74           -        2.51        9.84
                       -----------------------------------------------------------------------
2nd / Vacation             100.00       8.13      31.22           -           -       28.97
                       -----------------------------------------------------------------------
Rental                          -          -          -           -           -           -
                       -----------------------------------------------------------------------
Other                           -          -          -           -           -           -
----------------------------------------------------------------------------------------------
TOTAL                        4.93      12.03      50.89           -        0.71       30.22
----------------------------------------------------------------------------------------------




---------------------------------------------------------------------------------------------------------------------------
                                               DOCUMENTATION BUCKET
---------------------------------------------------------------------------------------------------------------------------
                                    DEAL SIZE                                WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                    ---------------------------------------     WA LOAN    ------------------------------------------------
DOC TYPE              # LOANS            BALANCE         %      BALANCE        WAC        FICO       % LTV      % DTI
---------------------------------------------------------------------------------------------------------------------------

Full                    1,678         260,928,931    44.64%     155,500       7.444         608     80.59       41.25
                    -------------------------------------------------------------------------------------------------------
Alternative                11           2,582,806     0.44%     234,801       7.778         579     76.97       37.72
                    -------------------------------------------------------------------------------------------------------
Limited                   126          20,867,820     3.57%     165,618       7.391         598     80.35       38.34
                    -------------------------------------------------------------------------------------------------------
Stated                  1,503         296,002,206    50.64%     196,941       7.421         650     80.93       42.03
                    -------------------------------------------------------------------------------------------------------
No Ratio                    5             972,962     0.17%     194,592       8.055         666     91.41           -
                    -------------------------------------------------------------------------------------------------------
NINA                        -                   -     0.00%           -           -           -         -           -
                    -------------------------------------------------------------------------------------------------------
No Doc                     19           3,168,996     0.54%     166,789       7.708         668     80.81           -
                    -------------------------------------------------------------------------------------------------------
Other                       -                   -     0.00%           -           -           -         -           -
---------------------------------------------------------------------------------------------------------------------------
TOTAL                   3,342         584,523,723   100.00%     174,902       7.434         629     80.76       41.52
---------------------------------------------------------------------------------------------------------------------------



----------------------------------------------------------------------------------------------
                                   DOCUMENTATION BUCKET
----------------------------------------------------------------------------------------------
                                     WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     -------------------------------------------------------------------------
                         NON-         NON       REFI         MI       NINA/NO     INTEREST
DOC TYPE               PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
----------------------------------------------------------------------------------------------

Full                         4.47      10.44      61.21           -           -       19.23
                     -------------------------------------------------------------------------
Alternative                 32.46      18.71      78.67           -           -       15.33
                     -------------------------------------------------------------------------
Limited                      4.42      13.24      62.51           -           -       23.90
                     -------------------------------------------------------------------------
Stated                       4.99      13.26      40.87           -           -       40.61
                     -------------------------------------------------------------------------
No Ratio                    30.00      46.92      30.83           -      100.00       60.83
                     -------------------------------------------------------------------------
NINA                            -          -          -           -           -           -
                     -------------------------------------------------------------------------
No Doc                      11.39       4.57      44.95           -      100.00        9.80
                     -------------------------------------------------------------------------
Other                           -          -          -           -           -           -
----------------------------------------------------------------------------------------------
TOTAL                        4.93      12.03      50.89           -        0.71       30.22
----------------------------------------------------------------------------------------------






------------------------------------------------------------------------------------------------------------------------
                                                PROPERTY BUCKET
------------------------------------------------------------------------------------------------------------------------
                                   DEAL SIZE                                WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                   ----------------------------------------     WA LOAN    ---------------------------------------------
PROPERTY TYPE          # LOANS         BALANCE         %        BALANCE        WAC        FICO      % LTV       % DTI
------------------------------------------------------------------------------------------------------------------------

Single Family            2,635     450,307,336    77.04%        170,895       7.450         626     80.73       41.42
                   -----------------------------------------------------------------------------------------------------
PUD                        296      61,941,984    10.60%        209,263       7.397         639     80.89       41.38
                   -----------------------------------------------------------------------------------------------------
2-4 Unit                   138      30,265,952     5.18%        219,319       7.452         634     79.53       43.39
                   -----------------------------------------------------------------------------------------------------
Townhouse                   15       1,953,774     0.33%        130,252       8.101         609     83.91       40.99
                   -----------------------------------------------------------------------------------------------------
Condo                      257      39,966,966     6.84%        155,513       7.268         655     81.62       41.47
                   -----------------------------------------------------------------------------------------------------
MH                           1          87,709     0.02%         87,709       5.490         684     80.00       51.52
                   -----------------------------------------------------------------------------------------------------
Other                        -               -     0.00%              -           -           -         -           -
------------------------------------------------------------------------------------------------------------------------
TOTAL                    3,342     584,523,723   100.00%        174,902       7.434         629     80.76       41.52
------------------------------------------------------------------------------------------------------------------------



------------------------------------------------------------------------------------------------
                                      PROPERTY BUCKET
------------------------------------------------------------------------------------------------
                                    WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                       -------------------------------------------------------------------------
                          NON-         NON       REFI         MI       NINA/NO     INTEREST
PROPERTY TYPE           PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
------------------------------------------------------------------------------------------------

Single Family                 3.83          -      53.57           -        0.52       29.48
                       -------------------------------------------------------------------------
PUD                           4.78          -      40.00           -        1.92       41.25
                       -------------------------------------------------------------------------
2-4 Unit                     22.49     100.00      56.37           -        0.52        6.40
                       -------------------------------------------------------------------------
Townhouse                     5.78          -      59.00           -           -        4.59
                       -------------------------------------------------------------------------
Condo                         4.10     100.00      33.01           -        1.11       40.88
                       -------------------------------------------------------------------------
MH                          100.00     100.00     100.00           -           -           -
                       -------------------------------------------------------------------------
Other                            -          -          -           -           -           -
------------------------------------------------------------------------------------------------
TOTAL                         4.93      12.03      50.89           -        0.71       30.22
------------------------------------------------------------------------------------------------




--------------------------------------------------------------------------------------------------------------------------
                                               PRINCIPAL BUCKET
--------------------------------------------------------------------------------------------------------------------------
                                      DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                   ------------------------------------------    WA LOAN    ----------------------------------------------
UPB                    # LOANS          BALANCE         %        BALANCE       WAC        FICO        % LTV     % DTI
--------------------------------------------------------------------------------------------------------------------------

=<50                      368        13,366,020     2.29%         36,321      10.383         620     87.12       39.26
                   -------------------------------------------------------------------------------------------------------
>50 =<75                  401        25,110,182     4.30%         62,619       9.267         611     83.53       38.55
                   -------------------------------------------------------------------------------------------------------
>75 =<100                 373        32,732,727     5.60%         87,755       8.609         610     81.11       38.46
                   -------------------------------------------------------------------------------------------------------
>100 =<125                323        36,318,362     6.21%        112,441       8.017         609     80.80       40.23
                   -------------------------------------------------------------------------------------------------------
>125 =<150                289        39,731,750     6.80%        137,480       7.609         618     81.57       39.79
                   -------------------------------------------------------------------------------------------------------
>150 =<200                464        80,661,572    13.80%        173,840       7.440         618     79.51       41.17
                   -------------------------------------------------------------------------------------------------------
>200 =<250                342        76,350,630    13.06%        223,247       7.311         624     79.88       41.91
                   -------------------------------------------------------------------------------------------------------
>250 =<300                245        67,377,500    11.53%        275,010       7.036         639     79.91       41.53
                   -------------------------------------------------------------------------------------------------------
>300 =<350                185        59,815,565    10.23%        323,327       6.962         642     80.37       42.49
                   -------------------------------------------------------------------------------------------------------
>350 =<400                154        57,871,323     9.90%        375,788       6.847         647     82.03       42.97
                   -------------------------------------------------------------------------------------------------------
>400 =<450                 93        39,627,987     6.78%        426,107       6.788         656     81.94       42.95
                   -------------------------------------------------------------------------------------------------------
>450 =<500                 56        26,638,595     4.56%        475,689       6.881         637     81.43       43.16
                   -------------------------------------------------------------------------------------------------------
>500 =<600                 33        18,067,884     3.09%        547,512       7.132         640     77.45       43.85
                   -------------------------------------------------------------------------------------------------------
>600 =<700                 12         7,768,403     1.33%        647,367       6.678         634     79.12       44.35
                   -------------------------------------------------------------------------------------------------------
=>700                       4         3,085,224     0.53%        771,306       6.654         598     75.22       45.35
--------------------------------------------------------------------------------------------------------------------------
TOTAL                   3,342       584,523,723   100.00%        174,902       7.434         629     80.76       41.52
--------------------------------------------------------------------------------------------------------------------------
* In $1,000



--------------------------------------------------------------------------------------------
                                   PRINCIPAL BUCKET
--------------------------------------------------------------------------------------------
                                   WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                      ----------------------------------------------------------------------
                        NON-         NON       REFI         MI       NINA/NO     INTEREST
UPB                    PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
--------------------------------------------------------------------------------------------

=<50                       3.53       9.77      49.56           -           -        0.32
                      ----------------------------------------------------------------------
>50 =<75                   9.50      13.10      56.76           -        0.58        1.92
                      ----------------------------------------------------------------------
>75 =<100                  7.56      12.46      49.67           -        1.09        4.74
                      ----------------------------------------------------------------------
>100 =<125                 5.53       9.85      55.17           -        0.32        8.30
                      ----------------------------------------------------------------------
>125 =<150                 7.88       9.85      50.47           -        1.69       12.53
                      ----------------------------------------------------------------------
>150 =<200                 5.42       9.43      56.78           -        1.05       20.00
                      ----------------------------------------------------------------------
>200 =<250                 4.70      13.42      54.26           -        1.23       28.57
                      ----------------------------------------------------------------------
>250 =<300                 4.14      15.95      52.76           -        0.85       42.70
                      ----------------------------------------------------------------------
>300 =<350                 5.36      12.31      48.18           -           -       41.94
                      ----------------------------------------------------------------------
>350 =<400                 3.25      14.21      37.55           -           -       52.46
                      ----------------------------------------------------------------------
>400 =<450                 2.19      10.85      51.77           -           -       49.41
                      ----------------------------------------------------------------------
>450 =<500                    -      10.67      39.28           -        1.84       48.23
                      ----------------------------------------------------------------------
>500 =<600                 9.19      12.23      54.41           -           -       48.08
                      ----------------------------------------------------------------------
>600 =<700                    -       7.86      58.37           -           -       42.77
                      ----------------------------------------------------------------------
=>700                         -          -      51.88           -           -           -
--------------------------------------------------------------------------------------------
TOTAL                      4.93      12.03      50.89           -        0.71       30.22
--------------------------------------------------------------------------------------------


* In $1,000
          MIN  5,404          MAX  836,454



--------------------------------------------------------------------------------------------------------------------------
                                      STATE CONCENTRATION BUCKET (I)
--------------------------------------------------------------------------------------------------------------------------
                                    DEAL SIZE                                WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     ---------------------------------------      WA LOAN   ----------------------------------------------
STATE*                 # LOANS           BALANCE         %        BALANCE        WAC         FICO     % LTV       % DTI
--------------------------------------------------------------------------------------------------------------------------

 California              1,121       279,814,680    47.87%        249,612       6.991         644     79.35       42.11
                     -----------------------------------------------------------------------------------------------------
 Florida                   593        79,824,621    13.66%        134,612       7.634         630     82.82       41.28
                     -----------------------------------------------------------------------------------------------------
 New York                   95        22,537,638     3.86%        237,238       7.451         609     78.63       45.17
                     -----------------------------------------------------------------------------------------------------
 Illinois                  108        18,141,833     3.10%        167,980       7.692         604     83.65       40.97
                     -----------------------------------------------------------------------------------------------------
 Maryland                   92        16,471,580     2.82%        179,039       7.759         598     81.15       39.53
                     -----------------------------------------------------------------------------------------------------
 Nevada                     80        15,426,103     2.64%        192,826       7.695         621     81.15       41.84
                     -----------------------------------------------------------------------------------------------------
 Virginia                   74        13,341,371     2.28%        180,289       7.763         601     78.89       40.50
                     -----------------------------------------------------------------------------------------------------
 Michigan                   91         9,553,981     1.63%        104,989       8.404         600     83.98       37.48
                     -----------------------------------------------------------------------------------------------------
 New Jersey                 48         9,190,129     1.57%        191,461       8.052         621     78.95       43.73
                     -----------------------------------------------------------------------------------------------------
 Washington                 50         9,111,769     1.56%        182,235       7.188         628     81.21       44.10
                     -----------------------------------------------------------------------------------------------------
 Georgia                    74         8,997,471     1.54%        121,587       8.468         603     81.91       40.87
                     -----------------------------------------------------------------------------------------------------
 Arizona                    73         8,379,816     1.43%        114,792       7.858         625     83.39       39.38
                     -----------------------------------------------------------------------------------------------------
 Oregon                     56         7,983,322     1.37%        142,559       7.608         627     82.37       38.02
                     -----------------------------------------------------------------------------------------------------
 Colorado                   45         7,045,460     1.21%        156,566       7.288         630     80.98       39.31
                     -----------------------------------------------------------------------------------------------------
 Massachusetts              35         7,007,976     1.20%        200,228       7.355         609     76.58       42.58
                     -----------------------------------------------------------------------------------------------------
Other                      707        71,695,975    12.27%        101,409       8.323         609     83.59       39.80
--------------------------------------------------------------------------------------------------------------------------
TOTAL                    3,342       584,523,723   100.00%        174,902       7.434         629     80.76       41.52
--------------------------------------------------------------------------------------------------------------------------



---------------------------------------------------------------------------------------------
                                 STATE CONCENTRATION BUCKET (I)
---------------------------------------------------------------------------------------------
                                 WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     ------------------------------------------------------------------------
                         NON-         NON       REFI         MI       NINA/NO     INTEREST
STATE*                  PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
---------------------------------------------------------------------------------------------

 California                3.37      12.43      46.47           -        0.36       48.91
                     ------------------------------------------------------------------------
 Florida                   8.10      12.70      40.24           -        2.87       16.58
                     ------------------------------------------------------------------------
 New York                  3.59      38.12      70.56           -           -        8.82
                     ------------------------------------------------------------------------
 Illinois                  4.73      18.17      44.65           -           -        5.25
                     ------------------------------------------------------------------------
 Maryland                  3.95       1.61      72.29           -        1.17        7.14
                     ------------------------------------------------------------------------
 Nevada                   12.79       2.35      67.31           -           -       23.07
                     ------------------------------------------------------------------------
 Virginia                  2.41       4.16      66.30           -           -       18.12
                     ------------------------------------------------------------------------
 Michigan                  5.24       6.36      60.30           -        1.74        5.27
                     ------------------------------------------------------------------------
 New Jersey                5.76      18.71      69.32           -           -           -
                     ------------------------------------------------------------------------
 Washington               10.14      12.00      34.27           -           -       33.91
                     ------------------------------------------------------------------------
 Georgia                   6.29       1.34      66.43           -           -       11.71
                     ------------------------------------------------------------------------
 Arizona                   6.29       4.26      45.05           -           -        7.83
                     ------------------------------------------------------------------------
 Oregon                    9.07       9.25      54.57           -        1.93       24.56
                     ------------------------------------------------------------------------
 Colorado                  6.31      10.75      51.99           -           -       36.82
                     ------------------------------------------------------------------------
 Massachusetts             4.76      28.17      75.71           -           -        9.41
                     ------------------------------------------------------------------------
Other                      5.27       6.92      58.39           -        0.46        8.31
---------------------------------------------------------------------------------------------
TOTAL                      4.93      12.03      50.89           -        0.71       30.22
---------------------------------------------------------------------------------------------






*Separate California into North and South if possible.
------------------------------------------------------------------------------------------------------------------------
                                      DEAL SIZE                             WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                      --------------------------------------     WA LOAN   ---------------------------------------------
CALIFORNIA BREAKDOWN   # LOANS          BALANCE         %        BALANCE        WAC        FICO      % LTV       % DTI
------------------------------------------------------------------------------------------------------------------------

CA North                   384       93,110,634    33.28%        242,476       6.978         648     80.07       41.48
                      --------------------------------------------------------------------------------------------------
CA South                   737      186,704,046    66.72%        253,330       6.998         642     78.99       42.43
------------------------------------------------------------------------------------------------------------------------
                         1,121      279,814,680   100.00%        249,612       6.991         644     79.35       42.11
------------------------------------------------------------------------------------------------------------------------



--------------------------------------------------------------------------------------------------
                                  WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                           -----------------------------------------------------------------------
                              NON-        NON       REFI         MI       NINA/NO     INTEREST
CALIFORNIA BREAKDOWN         PRIMARY    SF/PUD    CACHOUT     COVERED       DOC        ONLY
--------------------------------------------------------------------------------------------------

CA North                       3.69       4.45      39.36           -        0.14       55.30
                           -----------------------------------------------------------------------
CA South                       3.22      16.41      50.02           -        0.47       45.73
--------------------------------------------------------------------------------------------------
                               3.37      12.43      46.47           -        0.36       48.91
--------------------------------------------------------------------------------------------------





------------------------------------------------------------------------------------------------------------------------------
                                                  FIXED / FLOATING (II)
------------------------------------------------------------------------------------------------------------------------------
                                     DEAL SIZE                                    WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     -----------------------------------------                  ----------------------------------------------
                                                                    WA LOAN
TYPE                   # LOANS             BALANCE         %        BALANCE        WAC         FICO     % LTV      % DTI
------------------------------------------------------------------------------------------------------------------------------

Fixed                     391           47,462,449     8.12%        121,387       7.672         645     79.94       41.50
                     ---------------------------------------------------------------------------------------------------------
Balloon                   293           16,158,515     2.76%         55,149      10.368         666     96.57       43.50
                     ---------------------------------------------------------------------------------------------------------
2/28                    1,826          307,352,680    52.58%        168,320       7.715         602     79.71       41.20
                     ---------------------------------------------------------------------------------------------------------
3/27                      160           27,607,070     4.72%        172,544       7.303         603     80.13       40.67
                     ---------------------------------------------------------------------------------------------------------
5/25                       20            4,357,173     0.75%        217,859       6.498         675     76.80       41.85
                     ---------------------------------------------------------------------------------------------------------
2/28 IO                   540          154,927,940    26.50%        286,904       6.655         675     81.52       42.31
                     ---------------------------------------------------------------------------------------------------------
3/27 IO                    80           18,864,856     3.23%        235,811       6.758         658     80.30       39.91
                     ---------------------------------------------------------------------------------------------------------
5/25 IO                     4              871,495     0.15%        217,874       6.783         690     91.58       45.30
                     ---------------------------------------------------------------------------------------------------------
Other                      28            6,921,543     1.18%        247,198       6.969         615     84.21       40.85
------------------------------------------------------------------------------------------------------------------------------
TOTAL                   3,342          584,523,723   100.00%        174,902       7.434         629     80.76       41.52
------------------------------------------------------------------------------------------------------------------------------



----------------------------------------------------------------------------------------------
                                   FIXED / FLOATING (II)
----------------------------------------------------------------------------------------------
                                   WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                         ---------------------------------------------------------------------
                            NON-         NON       REFI         MI       NINA/NO     INTEREST
TYPE                       PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
----------------------------------------------------------------------------------------------

Fixed                        6.94      16.22      70.93           -        1.07        3.80
                         ---------------------------------------------------------------------
Balloon                      2.94      12.62      18.33           -           -           -
                         ---------------------------------------------------------------------
2/28                         6.28      11.89      62.27           -        0.83           -
                         ---------------------------------------------------------------------
3/27                         3.27      12.49      54.50           -        0.60           -
                         ---------------------------------------------------------------------
5/25                        22.74      18.12      45.92           -           -           -
                         ---------------------------------------------------------------------
2/28 IO                      1.73      10.79      25.60           -        0.58      100.00
                         ---------------------------------------------------------------------
3/27 IO                      3.73       6.11      41.24           -           -      100.00
                         ---------------------------------------------------------------------
5/25 IO                         -      21.66      78.34           -           -      100.00
                         ---------------------------------------------------------------------
Other                        7.33      25.18      62.26           -           -        2.83
----------------------------------------------------------------------------------------------
TOTAL                        4.93      12.03      50.89           -        0.71       30.22
----------------------------------------------------------------------------------------------


List all loan types and separate the IO loans i.e. 2/28 and 2/28 IO should have
separate rows.



----------------------------------------------------------------------------------------------------------------------------
                                                       LIEN BUCKET
----------------------------------------------------------------------------------------------------------------------------
                                      DEAL SIZE                                 WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     -----------------------------------------     WA LOAN    ----------------------------------------------
TYPE                   # LOANS            BALANCE         %        BALANCE       WAC          FICO     % LTV      % DTI
----------------------------------------------------------------------------------------------------------------------------

First                     2,925       562,596,783    96.25%        192,341       7.312         628     80.12       41.45
                     -------------------------------------------------------------------------------------------------------
Second                      417        21,926,940     3.75%         52,583      10.555         658     97.30       43.30
                     -------------------------------------------------------------------------------------------------------
Third                         -                 -     0.00%              -           -           -         -           -
                     -------------------------------------------------------------------------------------------------------
Other                         -                 -     0.00%              -           -           -         -           -
----------------------------------------------------------------------------------------------------------------------------
TOTAL                     3,342       584,523,723   100.00%        174,902       7.434         629     80.76       41.52
----------------------------------------------------------------------------------------------------------------------------



---------------------------------------------------------------------------------------------
                                        LIEN BUCKET
---------------------------------------------------------------------------------------------
                                        WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                         --------------------------------------------------------------------
                             NON-        NON       REFI         MI       NINA/NO     INTEREST
TYPE                        PRIMARY    SF/PUD    CACHOUT     COVERED       DOC        ONLY
---------------------------------------------------------------------------------------------

First                         5.09      12.00      52.21           -        0.74       31.40
                         --------------------------------------------------------------------
Second                        1.04      12.93      17.13           -           -           -
                         --------------------------------------------------------------------
Third                            -          -          -           -           -           -
                         --------------------------------------------------------------------
Other                            -          -          -           -           -           -
---------------------------------------------------------------------------------------------
TOTAL                         4.93      12.03      50.89           -        0.71       30.22
---------------------------------------------------------------------------------------------




---------------------------------------------------------------------------------------------------------------------------
                                               PREPAYMENT BUCKET
---------------------------------------------------------------------------------------------------------------------------
                                       DEAL SIZE                              WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                    -----------------------------------------      WA LOAN  -----------------------------------------------
TYPE                   # LOANS            BALANCE         %        BALANCE        WAC         FICO     % LTV       % DTI
---------------------------------------------------------------------------------------------------------------------------

None                      417          67,791,441    11.60%        162,569       7.954         612     81.71       41.55
                    -------------------------------------------------------------------------------------------------------
6 Months                    1              86,874     0.01%         86,874      10.990         699    100.00       43.98
                    -------------------------------------------------------------------------------------------------------
1 Year                    166          36,770,392     6.29%        221,508       7.346         629     79.49       40.80
                    -------------------------------------------------------------------------------------------------------
2 Year                  2,228         395,696,509    67.70%        177,602       7.402         630     80.93       41.73
                    -------------------------------------------------------------------------------------------------------
3 Year                    526          83,053,962    14.21%        157,897       7.211         639     79.66       40.85
                    -------------------------------------------------------------------------------------------------------
5 Year                      4           1,124,545     0.19%        281,136       6.574         620     84.29       40.55
                    -------------------------------------------------------------------------------------------------------
Other                       -                   -     0.00%              -           -           -         -           -
---------------------------------------------------------------------------------------------------------------------------
TOTAL                   3,342         584,523,723   100.00%        174,902       7.434         629     80.76       41.52
---------------------------------------------------------------------------------------------------------------------------



---------------------------------------------------------------------------------------------
                                PREPAYMENT BUCKET
---------------------------------------------------------------------------------------------
                                     WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                       ----------------------------------------------------------------------
                          NON-         NON       REFI         MI       NINA/NO     INTEREST
TYPE                     PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
---------------------------------------------------------------------------------------------

None                       5.64      14.81      60.12           -           -       10.12
                       ----------------------------------------------------------------------
6 Months                      -          -          -           -           -           -
                       ----------------------------------------------------------------------
1 Year                     6.55      16.16      57.45           -        1.71       29.79
                       ----------------------------------------------------------------------
2 Year                     4.34      11.51      47.18           -        0.76       34.73
                       ----------------------------------------------------------------------
3 Year                     6.54      10.57      57.64           -        0.61       25.23
                       ----------------------------------------------------------------------
5 Year                        -          -      92.46           -           -       40.82
                       ----------------------------------------------------------------------
Other                         -          -          -           -           -           -
---------------------------------------------------------------------------------------------
TOTAL                      4.93      12.03      50.89           -        0.71       30.22
---------------------------------------------------------------------------------------------







-------------------------------------------------------------------------------------------------------------------------
                                                  INDEX BUCKET
-------------------------------------------------------------------------------------------------------------------------
                                  DEAL SIZE                                  WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                     --------------------------------------      WA LOAN    ---------------------------------------------
TYPE                   # LOANS          BALANCE         %        BALANCE        WAC        FICO      % LTV       % DTI
-------------------------------------------------------------------------------------------------------------------------

Fixed Rate                 684       63,620,965    10.88%         93,013       8.357         650     84.16       42.01
                     ----------------------------------------------------------------------------------------------------
Libor - 6 Month          2,658      520,902,758    89.12%        195,975       7.321         627     80.34       41.46
                     ----------------------------------------------------------------------------------------------------
Libor - 1 Year               -                -     0.00%              -           -           -         -           -
                     ----------------------------------------------------------------------------------------------------
Treasury - 1 Year            -                -     0.00%              -           -           -         -           -
                     ----------------------------------------------------------------------------------------------------
CMT - 1 Year                 -                -     0.00%              -           -           -         -           -
                     ----------------------------------------------------------------------------------------------------
                             -                -     0.00%              -           -           -         -           -
                     ----------------------------------------------------------------------------------------------------
                             -                -     0.00%              -           -           -         -           -
                     ----------------------------------------------------------------------------------------------------
Other                        -                -     0.00%              -           -           -         -           -
-------------------------------------------------------------------------------------------------------------------------
TOTAL                    3,342      584,523,723   100.00%        174,902       7.434         629     80.76       41.52
-------------------------------------------------------------------------------------------------------------------------



----------------------------------------------------------------------------------------------
                                   INDEX BUCKET
----------------------------------------------------------------------------------------------
                                        WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                        ----------------------------------------------------------------------
                           NON-         NON       REFI         MI       NINA/NO     INTEREST
TYPE                      PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
----------------------------------------------------------------------------------------------

Fixed Rate                   5.93      15.30      57.57           -        0.80        2.83
                        ----------------------------------------------------------------------
Libor - 6 Month              4.81      11.63      50.08           -        0.70       33.57
                        ----------------------------------------------------------------------
Libor - 1 Year                  -          -          -           -           -           -
                        ----------------------------------------------------------------------
Treasury - 1 Year               -          -          -           -           -           -
                        ----------------------------------------------------------------------
CMT - 1 Year                    -          -          -           -           -           -
                        ----------------------------------------------------------------------
                                -          -          -           -           -           -
                        ----------------------------------------------------------------------
                                -          -          -           -           -           -
                        ----------------------------------------------------------------------
Other                           -          -          -           -           -           -
----------------------------------------------------------------------------------------------
TOTAL                        4.93      12.03      50.89           -        0.71       30.22
----------------------------------------------------------------------------------------------


List all reset rates



-------------------------------------------------------------------------------------------------------------------------
                                                   MORTGAGE INSURANCE (MI)
-------------------------------------------------------------------------------------------------------------------------
                                    DEAL SIZE                                WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                      ---------------------------------------      WA LOAN   --------------------------------------------
TYPE                   # LOANS            BALANCE         %        BALANCE       WAC        FICO      % LTV       % DTI
-------------------------------------------------------------------------------------------------------------------------

=>80 LTV with MI                                      0.00%
                      ---------------------------------------------------------------------------------------------------
>80 LTV WITHOUT MI                                    0.00%
                      ---------------------------------------------------------------------------------------------------
<80  LTV WITH MI                                      0.00%
                      ---------------------------------------------------------------------------------------------------
NOT COVERED BY MI         3,342       584,523,723   100.00%        174,902       7.434         629     80.76       41.52
                      ---------------------------------------------------------------------------------------------------
OTHER                                                 0.00%
-------------------------------------------------------------------------------------------------------------------------
TOTAL                     3,342       584,523,723   100.00%        174,902       7.434         629     80.76       41.52
-------------------------------------------------------------------------------------------------------------------------



--------------------------------------------------------------------------------------------------
                                    MORTGAGE INSURANCE (MI)
--------------------------------------------------------------------------------------------------
                                     WEIGHTED AVERAGE COLLATERAL CHARACTERISTICS
                         -------------------------------------------------------------------------
                              NON-         NON       REFI         MI       NINA/NO     INTEREST
TYPE                         PRIMARY      SF/PUD    CACHOUT     COVERED       DOC        ONLY
--------------------------------------------------------------------------------------------------

=>80 LTV with MI
                         -------------------------------------------------------------------------
>80 LTV WITHOUT MI
                         -------------------------------------------------------------------------
<80  LTV WITH MI
                         -------------------------------------------------------------------------
NOT COVERED BY MI              4.93      12.03      50.89           -        0.71       30.22
                         -------------------------------------------------------------------------
OTHER
--------------------------------------------------------------------------------------------------
TOTAL                          4.93      12.03      50.89           -        0.71       30.22
--------------------------------------------------------------------------------------------------




------------------------------------------------------------------------------------------------------------------------------------
MI coverage        LOAN-TO-VALUE (LTV)
based on FICO    -------------------------------------------------------------------------------------------------------------------
and LTV buckets   =<50  >50 =<55  >55 =<60  >60 =<65  >65 =<70  >70 =<75  >75 =<80  >80 =<85  >85 =<90  >90 =<95  >95 <100  =>100
------------------------------------------------------------------------------------------------------------------------------------

     NA
     ------------
     =<500
     ------------
     >500 =<550
  F  ------------
     >550 =<600
  I  ------------
     >600 =<625
  C  ------------
     >625 =<650
  O  ------------
     >650 =<675
     ------------
     >675 =<700
     ------------
     >700 =<725
     ------------
     >725 =<750
     ------------
     >750 <800
     ------------
     =>800
-----------------




MASTER SERVICER:
BACKUP SERVICER:
                                   % NAME
PRIMARY SERVICER(S):        100.00% COUNTRYWIDE
                  2
                  3
                  4
                  5
                  6
                  7
                  8
                  9
                 10


IF THERE ARE MORE THEN 10 SERVICERS OR ORIGINATOR PLEASE LIST THEM ALL:


                        %    NAME
ORIGINATOR(S):     28.82%    Chapel
          2        16.41%    Encore
          3        10.52%    Fremont
          4        10.23%    Home Owners
          5         8.07%    Impac
          6         7.78%    First Banc
          7         6.32%    Lenders Direct
          8         3.83%    Peoples Choice
          9         1.79%    Aegis
         10         1.70%    BNC
         11         1.44%    Platinum Capital
         12         1.21%    All State
         13         1.14%    Master Financial
         14         0.71%    Home Loan Corp
         15         0.02%    Accredited
         16         0.01%    ResMAE



---------------------------------------------------------------------------------------------------------------------------------
                                               SIGNIFICANT LOAN BREAKDOWN*
---------------------------------------------------------------------------------------------------------------------------------
                        DEAL SIZE                           LTV SIGNIFICANT LOANS (I)                 DOC SIGNIFICANT LOANS (II)
              -------------------------------------------------------------------------------------------------------------------
FICO               BALANCE                %                     BALANCE             %                   BALANCE              %
--------------------------------------------                --------------------------                ----------------------------

NA                                  #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
=<500                               #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
>500 =<520                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
>520 =<540                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------      LOAN      --------------------------      ALL       ----------------------------
>540 =<560                          #DIV/0!        TO                         #DIV/0!       NO                         #DIV/0!
              ------------------------------      VALUE     --------------------------     DOC,       ----------------------------
>560 =<580                          #DIV/0!    (LTV) > 80                     #DIV/0!       NO                         #DIV/0!
              ------------------------------                --------------------------     RATIO      ----------------------------
>580 =<600                          #DIV/0!                                   #DIV/0!       AND                        #DIV/0!
              ------------------------------                --------------------------     NINA       ----------------------------
>600 =<620                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
>620 =<640                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
>640 =<660                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
>660 =<680                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
>680 =<700                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
>700 =<750                          #DIV/0!                                   #DIV/0!                                  #DIV/0!
              ------------------------------                --------------------------                ----------------------------
=>750                               #DIV/0!                                   #DIV/0!                                  #DIV/0!
-------------------------------------------------------------------------------------------------------------------------------
TOTAL               -               #DIV/0!     FLOW--->           -          #DIV/0!     FLOW--->          -          #DIV/0!
-------------------------------------------------------------------------------------------------------------------------------



-----------------------------------------------------------------------------------------------------------------------------
                                          SIGNIFICANT LOAN BREAKDOWN*
-----------------------------------------------------------------------------------------------------------------------------
                           DTI SIGNIFICANT LOANS (IV)                              PROPERTY SIGNIFICANT LOANS (III)
                         ----------------------------------------------------------------------------------------------------
FICO                                             BALANCE                %                          BALANCE                 %
-------------------------                 --------------------------------                -----------------------------------

NA                                                                #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
=<500                                                             #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
>500 =<520                                                        #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
>520 =<540                      DEBT                              #DIV/0!       ALL                                  #DIV/0!
                                 TO       --------------------------------   PROPERTY     -----------------------------------
>540 =<560                     INCOME                             #DIV/0!      TYPES                                 #DIV/0!
                             (DTI) >40    --------------------------------    EXCEPT      -----------------------------------
>560 =<580                                                        #DIV/0!       SF                                   #DIV/0!
                                          --------------------------------      AND       -----------------------------------
>580 =<600                                                        #DIV/0!       PUD                                  #DIV/0!
                                          --------------------------------                -----------------------------------
>600 =<620                                                        #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
>620 =<640                                                        #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
>640 =<660                                                        #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
>660 =<680                                                        #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
>680 =<700                                                        #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
>700 =<750                                                        #DIV/0!                                            #DIV/0!
                                          --------------------------------                -----------------------------------
=>750                                                             #DIV/0!                                            #DIV/0!
-----------------------------------------------------------------------------------------------------------------------------
TOTAL                        FLOW--->                  -          #DIV/0!      FLOW--->                              #DIV/0!
-----------------------------------------------------------------------------------------------------------------------------



BUCKETS SHOULD FLOW FROM ONE SIGNIFIER TO THE NEXT SIGNIFIER SEE DIAGRAM BELOW
FOR FLOW CHART:

------------------------------
    Aggregate Collateral
------------------------------
            |
            |                 ------------------------------
            -----------------      LTV Significant Loans
                              ------------------------------
                                            |
                              ------------------------------
                                  Doc Significant Loans
                              ------------------------------
                                            |
                              ------------------------------
                                   DTI Significant Loans
                              ------------------------------
                                            |
                              ------------------------------
                                Property Significant Loans
                              ------------------------------


* Cells in red font are calculations and should be left alone.

(i)    Loans with LTV >80 should be placed in each corresponding bucket
(ii)   Significant Documentation should consist of No doc, No Ratio and NINA
       loans.
(iii)  Property Significant loans will consist of everything that is not Single
       Family and (PUD).
(iv)   DTI Significant loans should consist of loans with a DTI >40