-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fkqq34zsUf7nlLX7xDxBKbs+lZUgrQgZ+d9NmrcMglTeMbOfuZsf12qOjgsw3onq BA+C6MwhjLhYuOS7Jyldgg== 0000950116-05-002825.txt : 20050818 0000950116-05-002825.hdr.sgml : 20050818 20050818113954 ACCESSION NUMBER: 0000950116-05-002825 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050816 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050818 DATE AS OF CHANGE: 20050818 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POPULAR ABS, INC. CENTRAL INDEX KEY: 0001036804 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 522029487 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-81506 FILM NUMBER: 051035063 BUSINESS ADDRESS: STREET 1: 103 SPRINGER BLDG STREET 2: 3411 SILVERSIDE ROAD CITY: WILMINGTON STATE: DE ZIP: 19803 BUSINESS PHONE: 3024786160 MAIL ADDRESS: STREET 1: 103 SPRINGER BLDG STREET 2: 3411 SILVERSIDE ROAD CITY: WILMINGTON STATE: DE ZIP: 19810 FORMER COMPANY: FORMER CONFORMED NAME: EQUITY ONE ABS INC DATE OF NAME CHANGE: 19970331 8-K 1 eight-k.txt 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report - August 16, 2005 -------------------------------- (Date of Earliest Event Reported) POPULAR ABS, INC. ------------------------------------------------------------------------ (Exact Name of Registrant as specified in its charter) Delaware 333-115371 52-2029487 - ------------------------ ------------------------ ----------------------- (State of Incorporation) (Commission File No.) (IRS Employer I.D. No.) 103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803 ----------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (302) 478-6160 Item 8.01 Other Events - ------------------------------ Filing of Computational Materials - --------------------------------- Pursuant to Rule 424(b) under the Securities Act of 1933, subsequent to the filing of this Current Report on Form 8-K (the "Form 8-K"), Popular ABS, Inc. (the "Company") is filing a prospectus and prospectus supplement with the Securities and Exchange Commission relating to its Mortgage Pass-Through Certificates, Series 2005-4. In connection with the offering of the Mortgage Pass-Through Certificates, Series 2005-4, Friedman, Billings, Ramsey & Co, Inc. ("FBR"), as co-underwriter of the publicly offered certificates, has prepared certain materials (the "FBR Computational Materials") for distribution to its potential investors. Although the Company provided FBR with certain information regarding the characteristics of the Loans in the related portfolio, the Company did not participate in the preparation of the FBR Computational Materials. For purposes of this Form 8-K, "Computational Materials" shall mean computer generated tables and/or charts displaying, with respect to any Class or Classes of Certificates, any of the following: yield; average life; duration; expected maturity; interest rate sensitivity; loss sensitivity; cash flow characteristics; background information regarding the Loans; the proposed structure; decrement tables; or similar information (tabular or otherwise) of a statistical, mathematical, tabular or computational nature. Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits. - ----------------------------------------------------------------------------- (a) Not applicable. (b) Not applicable. (c) Exhibits: 99.1 FBR Computational Materials. 99.2 FBR Computational Materials. - ------------ * Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the prospectus and the prospectus supplement of Popular ABS, Inc., relating to its Mortgage Pass-Through Certificates, Series 2005-4. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POPULAR ABS, INC. By: /s/ James H. Jenkins ---------------------------------- James H. Jenkins Executive Vice President and CFO Dated: August 17, 2005 Exhibit Index - ------------- Exhibit - ------- 99.1 FBR Computational Materials. 99.2 FBR Computational Materials. EX-99 2 ex99-1.txt EXHIBIT 99.1 EXHIBIT 99.1 [GRAPHIC OMITTED] POPULAR PRELIMINARY SAMPLE [GRAPHIC OMITTED] ABS, INC. (SM) POPULAR ABS 2005-4 COMPUTATIONAL MATERIALS DISCLAIMER The attached tables and other statistical analyses (the "Computational Materials") are privileged and intended for use by the addressee only. These Computational Materials have been prepared by Friedman, Billings, Ramsey & Co., Inc. in reliance upon information furnished by the issuer of the securities and its affiliates. These Computational Materials are furnished to you solely by Friedman, Billings, Ramsey & Co., Inc. and not by the issuer of the securities. They may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating said materials. Numerous assumptions were used in preparing the Computational Materials which may or may not be reflected therein. As such, no assurance can be given as to the Computational Materials' accuracy, appropriateness or completeness in any particular context; nor as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfall. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the actual underlying assets and the hypothetical underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. Neither Friedman, Billings, Ramsey & Co., Inc. nor any of its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or the payments or yield on the securities. Although a registration statement (including the Prospectus) relating to the securities discussed in this communication has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities discussed in this communication has not been filed with Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities discussed in this communication in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the securities laws of any such state. Prospective purchasers are referred to the final prospectus supplement relating to the securities discussed in this communication for definitive Computational Materials and any matter discussed in this communication. Once available, a final prospectus and prospectus supplement may be obtained by contacting the FBR Trading Desk at (703) 469-1225. Please be advised that the securities described herein may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayment, yield curve and interest rate risks. Investors should make every effort to consider the risks of these securities. If you have received this communication in error, please notify the sending party immediately by telephone and return the original to such party by mail. EQUITY ONE 2005-4 - CF - AF5 - 100 PRICINGSPEED - TO CALL LIBOR_1MO=3.55, LIBOR_6MO=3.96 100 PricingSpeed To Call
Period Date Principal Interest Balance Total 45,787,000.00 19,136,380.07 0 25-Aug-05 0 0 45,787,000.00 1 25-Sep-05 0 211,268.85 45,787,000.00 2 25-Oct-05 0 211,268.85 45,787,000.00 3 25-Nov-05 0 211,268.85 45,787,000.00 4 25-Dec-05 0 211,268.85 45,787,000.00 5 25-Jan-06 0 211,268.85 45,787,000.00 6 25-Feb-06 0 211,268.85 45,787,000.00 7 25-Mar-06 0 211,268.85 45,787,000.00 8 25-Apr-06 0 211,268.85 45,787,000.00 9 25-May-06 0 211,268.85 45,787,000.00 10 25-Jun-06 0 211,268.85 45,787,000.00 11 25-Jul-06 0 211,268.85 45,787,000.00 12 25-Aug-06 0 211,268.85 45,787,000.00 13 25-Sep-06 0 211,268.85 45,787,000.00 14 25-Oct-06 0 211,268.85 45,787,000.00 15 25-Nov-06 0 211,268.85 45,787,000.00 16 25-Dec-06 0 211,268.85 45,787,000.00 17 25-Jan-07 0 211,268.85 45,787,000.00 18 25-Feb-07 0 211,268.85 45,787,000.00 19 25-Mar-07 0 211,268.85 45,787,000.00 20 25-Apr-07 0 211,268.85 45,787,000.00 21 25-May-07 0 211,268.85 45,787,000.00 22 25-Jun-07 0 211,268.85 45,787,000.00 23 25-Jul-07 0 211,268.85 45,787,000.00 24 25-Aug-07 0 211,268.85 45,787,000.00 25 25-Sep-07 0 211,268.85 45,787,000.00 26 25-Oct-07 0 211,268.85 45,787,000.00 27 25-Nov-07 0 211,268.85 45,787,000.00 28 25-Dec-07 0 211,268.85 45,787,000.00 29 25-Jan-08 0 211,268.85 45,787,000.00 30 25-Feb-08 0 211,268.85 45,787,000.00 31 25-Mar-08 0 211,268.85 45,787,000.00 32 25-Apr-08 0 211,268.85 45,787,000.00 33 25-May-08 0 211,268.85 45,787,000.00 34 25-Jun-08 0 211,268.85 45,787,000.00 35 25-Jul-08 0 211,268.85 45,787,000.00 36 25-Aug-08 0 211,268.85 45,787,000.00 37 25-Sep-08 0 211,268.85 45,787,000.00 38 25-Oct-08 0 211,268.85 45,787,000.00 39 25-Nov-08 0 211,268.85 45,787,000.00 40 25-Dec-08 0 211,268.85 45,787,000.00 41 25-Jan-09 0 211,268.85 45,787,000.00 42 25-Feb-09 0 211,268.85 45,787,000.00 43 25-Mar-09 0 211,268.85 45,787,000.00 44 25-Apr-09 0 211,268.85 45,787,000.00 45 25-May-09 0 211,268.85 45,787,000.00 46 25-Jun-09 0 211,268.85 45,787,000.00 47 25-Jul-09 0 211,268.85 45,787,000.00 48 25-Aug-09 0 211,268.85 45,787,000.00
49 25-Sep-09 0 211,268.85 45,787,000.00 50 25-Oct-09 0 211,268.85 45,787,000.00 51 25-Nov-09 0 211,268.85 45,787,000.00 52 25-Dec-09 0 211,268.85 45,787,000.00 53 25-Jan-10 0 211,268.85 45,787,000.00 54 25-Feb-10 0 211,268.85 45,787,000.00 55 25-Mar-10 0 211,268.85 45,787,000.00 56 25-Apr-10 0 211,268.85 45,787,000.00 57 25-May-10 0 211,268.85 45,787,000.00 58 25-Jun-10 0 211,268.85 45,787,000.00 59 25-Jul-10 0 211,268.85 45,787,000.00 60 25-Aug-10 0 211,268.85 45,787,000.00 61 25-Sep-10 0 211,268.85 45,787,000.00 62 25-Oct-10 0 211,268.85 45,787,000.00 63 25-Nov-10 0 211,268.85 45,787,000.00 64 25-Dec-10 0 211,268.85 45,787,000.00 65 25-Jan-11 0 211,268.85 45,787,000.00 66 25-Feb-11 0 211,268.85 45,787,000.00 67 25-Mar-11 0 211,268.85 45,787,000.00 68 25-Apr-11 0 211,268.85 45,787,000.00 69 25-May-11 0 211,268.85 45,787,000.00 70 25-Jun-11 0 211,268.85 45,787,000.00 71 25-Jul-11 126,484.90 211,268.85 45,660,515.10 72 25-Aug-11 1,073,278.49 210,685.23 44,587,236.61 73 25-Sep-11 1,047,731.74 205,732.94 43,539,504.87 74 25-Oct-11 1,022,805.45 200,898.53 42,516,699.42 75 25-Nov-11 998,484.20 196,179.14 41,518,215.22 76 25-Dec-11 974,753.01 191,571.96 40,543,462.21 77 25-Jan-12 951,597.22 187,074.29 39,591,864.99 78 25-Feb-12 929,002.59 182,683.46 38,662,862.40 79 25-Mar-12 906,955.21 178,396.89 37,755,907.19 80 25-Apr-12 885,441.53 174,212.05 36,870,465.66 81 25-May-12 864,448.36 170,126.47 36,006,017.30 82 25-Jun-12 843,962.81 166,137.76 35,162,054.50 83 25-Jul-12 823,972.34 162,243.58 34,338,082.16 84 25-Aug-12 804,464.71 158,441.63 33,533,617.45 85 25-Sep-12 785,428.01 154,729.70 32,748,189.44 86 25-Oct-12 766,850.62 151,105.60 31,981,338.82 87 25-Nov-12 748,721.20 147,567.23 31,232,617.62 88 25-Dec-12 731,028.71 144,112.50 30,501,588.91 89 25-Jan-13 713,762.39 140,739.41 29,787,826.53 90 25-Feb-13 696,911.73 137,446.00 29,090,914.79 91 25-Mar-13 680,466.52 134,230.33 28,410,448.27 92 25-Apr-13 664,416.77 131,090.54 27,746,031.50 93 25-May-13 648,752.77 128,024.81 27,097,278.73 94 25-Jun-13 633,465.03 125,031.36 26,463,813.70 95 25-Jul-13 618,544.31 122,108.45 25,845,269.39 96 25-Aug-13 603,981.61 119,254.38 25,241,287.78 97 25-Sep-13 25,241,287.78 116,467.51 0
DISCLAIMER This Series Term Sheet, including the computational materials herein, was prepared solely by FBR, is intended for use by the addressee only, and may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating such information. This information is furnished to you solely by FBR and not by the Depositor, the Issuer of the securities or any of their affiliates. FBR is acting as underwriter and not acting as agent for the Depositor, the Issuer or their affiliates in connection with the proposed transaction. This material is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All information contained herein is preliminary and it is anticipated that such information will change. The information contained herein supersedes information contained in any prior series termsheet for this transaction. In addition, the information contained herein will be superseded by information contained in the prospectus and prospectus supplement for this transaction and in any other material subsequently filed with the Securities and Exchange Commission. An offering may be made only through the delivery of the prospectus and prospectus supplement. Any investment decision with respect to the referenced securities should be made by you solely upon all of the information contained in the prospectus and prospectus supplements. EQUITY ONE 2005-4 - CF - AF5 - 100 PRICINGSPEED - TO MATURITY LIBOR_1MO=3.55, LIBOR_6MO=3.96 100 PricingSpeed To Maturity
Period Date Principal Interest Balance Total 45,787,000.00 24,068,265.55 0 25-Aug-05 0 0 45,787,000.00 1 25-Sep-05 0 211,268.85 45,787,000.00 2 25-Oct-05 0 211,268.85 45,787,000.00 3 25-Nov-05 0 211,268.85 45,787,000.00 4 25-Dec-05 0 211,268.85 45,787,000.00 5 25-Jan-06 0 211,268.85 45,787,000.00 6 25-Feb-06 0 211,268.85 45,787,000.00 7 25-Mar-06 0 211,268.85 45,787,000.00 8 25-Apr-06 0 211,268.85 45,787,000.00 9 25-May-06 0 211,268.85 45,787,000.00 10 25-Jun-06 0 211,268.85 45,787,000.00 11 25-Jul-06 0 211,268.85 45,787,000.00 12 25-Aug-06 0 211,268.85 45,787,000.00 13 25-Sep-06 0 211,268.85 45,787,000.00 14 25-Oct-06 0 211,268.85 45,787,000.00 15 25-Nov-06 0 211,268.85 45,787,000.00 16 25-Dec-06 0 211,268.85 45,787,000.00 17 25-Jan-07 0 211,268.85 45,787,000.00 18 25-Feb-07 0 211,268.85 45,787,000.00 19 25-Mar-07 0 211,268.85 45,787,000.00 20 25-Apr-07 0 211,268.85 45,787,000.00 21 25-May-07 0 211,268.85 45,787,000.00 22 25-Jun-07 0 211,268.85 45,787,000.00 23 25-Jul-07 0 211,268.85 45,787,000.00 24 25-Aug-07 0 211,268.85 45,787,000.00 25 25-Sep-07 0 211,268.85 45,787,000.00 26 25-Oct-07 0 211,268.85 45,787,000.00 27 25-Nov-07 0 211,268.85 45,787,000.00 28 25-Dec-07 0 211,268.85 45,787,000.00 29 25-Jan-08 0 211,268.85 45,787,000.00 30 25-Feb-08 0 211,268.85 45,787,000.00 31 25-Mar-08 0 211,268.85 45,787,000.00 32 25-Apr-08 0 211,268.85 45,787,000.00 33 25-May-08 0 211,268.85 45,787,000.00 34 25-Jun-08 0 211,268.85 45,787,000.00 35 25-Jul-08 0 211,268.85 45,787,000.00 36 25-Aug-08 0 211,268.85 45,787,000.00 37 25-Sep-08 0 211,268.85 45,787,000.00 38 25-Oct-08 0 211,268.85 45,787,000.00 39 25-Nov-08 0 211,268.85 45,787,000.00 40 25-Dec-08 0 211,268.85 45,787,000.00 41 25-Jan-09 0 211,268.85 45,787,000.00 42 25-Feb-09 0 211,268.85 45,787,000.00 43 25-Mar-09 0 211,268.85 45,787,000.00 44 25-Apr-09 0 211,268.85 45,787,000.00 45 25-May-09 0 211,268.85 45,787,000.00 46 25-Jun-09 0 211,268.85 45,787,000.00 47 25-Jul-09 0 211,268.85 45,787,000.00 48 25-Aug-09 0 211,268.85 45,787,000.00
49 25-Sep-09 0 211,268.85 45,787,000.00 50 25-Oct-09 0 211,268.85 45,787,000.00 51 25-Nov-09 0 211,268.85 45,787,000.00 52 25-Dec-09 0 211,268.85 45,787,000.00 53 25-Jan-10 0 211,268.85 45,787,000.00 54 25-Feb-10 0 211,268.85 45,787,000.00 55 25-Mar-10 0 211,268.85 45,787,000.00 56 25-Apr-10 0 211,268.85 45,787,000.00 57 25-May-10 0 211,268.85 45,787,000.00 58 25-Jun-10 0 211,268.85 45,787,000.00 59 25-Jul-10 0 211,268.85 45,787,000.00 60 25-Aug-10 0 211,268.85 45,787,000.00 61 25-Sep-10 0 211,268.85 45,787,000.00 62 25-Oct-10 0 211,268.85 45,787,000.00 63 25-Nov-10 0 211,268.85 45,787,000.00 64 25-Dec-10 0 211,268.85 45,787,000.00 65 25-Jan-11 0 211,268.85 45,787,000.00 66 25-Feb-11 0 211,268.85 45,787,000.00 67 25-Mar-11 0 211,268.85 45,787,000.00 68 25-Apr-11 0 211,268.85 45,787,000.00 69 25-May-11 0 211,268.85 45,787,000.00 70 25-Jun-11 0 211,268.85 45,787,000.00 71 25-Jul-11 126,484.90 211,268.85 45,660,515.10 72 25-Aug-11 1,073,278.49 210,685.23 44,587,236.61 73 25-Sep-11 1,047,731.74 205,732.94 43,539,504.87 74 25-Oct-11 1,022,805.45 200,898.53 42,516,699.42 75 25-Nov-11 998,484.20 196,179.14 41,518,215.22 76 25-Dec-11 974,753.01 191,571.96 40,543,462.21 77 25-Jan-12 951,597.22 187,074.29 39,591,864.99 78 25-Feb-12 929,002.59 182,683.46 38,662,862.40 79 25-Mar-12 906,955.21 178,396.89 37,755,907.19 80 25-Apr-12 885,441.53 174,212.05 36,870,465.66 81 25-May-12 864,448.36 170,126.47 36,006,017.30 82 25-Jun-12 843,962.81 166,137.76 35,162,054.50 83 25-Jul-12 823,972.34 162,243.58 34,338,082.16 84 25-Aug-12 804,464.71 158,441.63 33,533,617.45 85 25-Sep-12 785,428.01 154,729.70 32,748,189.44 86 25-Oct-12 766,850.62 151,105.60 31,981,338.82 87 25-Nov-12 748,721.20 147,567.23 31,232,617.62 88 25-Dec-12 731,028.71 144,112.50 30,501,588.91 89 25-Jan-13 713,762.39 140,739.41 29,787,826.53 90 25-Feb-13 696,911.73 137,446.00 29,090,914.79 91 25-Mar-13 680,466.52 134,230.33 28,410,448.27 92 25-Apr-13 664,416.77 131,090.54 27,746,031.50 93 25-May-13 648,752.77 128,024.81 27,097,278.73 94 25-Jun-13 633,465.03 125,031.36 26,463,813.70 95 25-Jul-13 618,544.31 122,108.45 25,845,269.39 96 25-Aug-13 603,981.61 119,254.38 25,241,287.78 97 25-Sep-13 589,768.14 116,467.51 24,651,519.64 98 25-Oct-13 575,895.34 124,017.69 24,075,624.30 99 25-Nov-13 562,354.86 121,120.45 23,513,269.44 100 25-Dec-13 549,138.56 118,291.34 22,964,130.88 101 25-Jan-14 536,238.50 115,528.72 22,427,892.38 102 25-Feb-14 523,646.96 112,830.99 21,904,245.42 103 25-Mar-14 511,356.38 110,196.61 21,392,889.05 104 25-Apr-14 499,359.40 107,624.06 20,893,529.64 105 25-May-14 487,648.87 105,111.87 20,405,880.77 106 25-Jun-14 476,217.79 102,658.59 19,929,662.98 107 25-Jul-14 465,059.33 100,262.81 19,464,603.66
108 25-Aug-14 454,166.85 97,923.18 19,010,436.81 109 25-Sep-14 443,533.87 95,638.34 18,566,902.93 110 25-Oct-14 433,154.08 93,406.99 18,133,748.86 111 25-Nov-14 423,021.29 91,227.87 17,710,727.56 112 25-Dec-14 413,129.52 89,099.72 17,297,598.05 113 25-Jan-15 403,472.88 87,021.33 16,894,125.17 114 25-Feb-15 394,045.69 84,991.53 16,500,079.48 115 25-Mar-15 384,842.35 83,009.15 16,115,237.13 116 25-Apr-15 375,857.43 81,073.07 15,739,379.70 117 25-May-15 367,085.64 79,182.20 15,372,294.06 118 25-Jun-15 358,226.44 77,335.45 15,014,067.62 119 25-Jul-15 349,746.35 75,533.27 14,664,321.27 120 25-Aug-15 341,703.81 73,773.76 14,322,617.46 121 25-Sep-15 333,743.37 72,054.70 13,988,874.09 122 25-Oct-15 325,971.26 70,375.69 13,662,902.83 123 25-Nov-15 318,382.91 68,735.79 13,344,519.92 124 25-Dec-15 310,973.89 67,134.06 13,033,546.04 125 25-Jan-16 303,739.86 65,569.60 12,729,806.18 126 25-Feb-16 296,676.60 64,041.53 12,433,129.58 127 25-Mar-16 289,779.99 62,549.00 12,143,349.59 128 25-Apr-16 283,046.01 61,091.17 11,860,303.58 129 25-May-16 276,470.75 59,667.21 11,583,832.83 130 25-Jun-16 270,050.38 58,276.33 11,313,782.45 131 25-Jul-16 263,781.17 56,917.75 11,050,001.28 132 25-Aug-16 257,659.49 55,590.71 10,792,341.78 133 25-Sep-16 251,681.79 54,294.47 10,540,659.99 134 25-Oct-16 245,844.61 53,028.30 10,294,815.38 135 25-Nov-16 240,144.58 51,791.50 10,054,670.80 136 25-Dec-16 234,578.40 50,583.37 9,820,092.40 137 25-Jan-17 229,142.87 49,403.25 9,590,949.54 138 25-Feb-17 223,834.85 48,250.47 9,367,114.69 139 25-Mar-17 218,651.28 47,124.39 9,148,463.41 140 25-Apr-17 213,589.20 46,024.39 8,934,874.21 141 25-May-17 208,645.68 44,949.86 8,726,228.53 142 25-Jun-17 203,817.90 43,900.20 8,522,410.62 143 25-Jul-17 199,103.10 42,874.83 8,323,307.53 144 25-Aug-17 194,498.56 41,873.17 8,128,808.97 145 25-Sep-17 190,001.66 40,894.68 7,938,807.32 146 25-Oct-17 185,609.82 39,938.82 7,753,197.49 147 25-Nov-17 181,320.56 39,005.04 7,571,876.94 148 25-Dec-17 177,131.41 38,092.85 7,394,745.53 149 25-Jan-18 173,040.00 37,201.73 7,221,705.53 150 25-Feb-18 169,044.00 36,331.20 7,052,661.53 151 25-Mar-18 165,141.13 35,480.76 6,887,520.40 152 25-Apr-18 161,329.19 34,649.97 6,726,191.21 153 25-May-18 157,606.02 33,838.35 6,568,585.19 154 25-Jun-18 153,969.50 33,045.46 6,414,615.69 155 25-Jul-18 150,417.57 32,270.86 6,264,198.12 156 25-Aug-18 146,948.25 31,514.14 6,117,249.87 157 25-Sep-18 143,559.55 30,774.86 5,973,690.32 158 25-Oct-18 140,249.58 30,052.64 5,833,440.75 159 25-Nov-18 137,016.47 29,347.07 5,696,424.28 160 25-Dec-18 133,858.39 28,657.76 5,562,565.89 161 25-Jan-19 130,773.59 27,984.34 5,431,792.30 162 25-Feb-19 127,760.31 27,326.44 5,304,031.99 163 25-Mar-19 124,816.88 26,683.70 5,179,215.11 164 25-Apr-19 121,941.65 26,055.77 5,057,273.46 165 25-May-19 119,132.99 25,442.30 4,938,140.47 166 25-Jun-19 116,389.36 24,842.96 4,821,751.11
167 25-Jul-19 113,709.20 24,257.43 4,708,041.90 168 25-Aug-19 111,091.04 23,685.37 4,596,950.87 169 25-Sep-19 108,533.39 23,126.49 4,488,417.47 170 25-Oct-19 106,034.86 22,580.48 4,382,382.62 171 25-Nov-19 103,594.03 22,047.04 4,278,788.59 172 25-Dec-19 101,209.56 21,525.87 4,177,579.02 173 25-Jan-20 98,880.13 21,016.70 4,078,698.90 174 25-Feb-20 96,604.43 20,519.25 3,982,094.47 175 25-Mar-20 94,381.21 20,033.25 3,887,713.26 176 25-Apr-20 92,209.25 19,558.44 3,795,504.01 177 25-May-20 89,892.55 19,094.55 3,705,611.46 178 25-Jun-20 87,825.46 18,642.31 3,617,786.00 179 25-Jul-20 106,031.46 18,200.48 3,511,754.54 180 25-Aug-20 84,762.74 17,667.05 3,426,991.80 181 25-Sep-20 81,091.62 17,240.62 3,345,900.18 182 25-Oct-20 79,228.41 16,832.67 3,266,671.76 183 25-Nov-20 77,408.07 16,434.08 3,189,263.69 184 25-Dec-20 75,629.59 16,044.65 3,113,634.10 185 25-Jan-21 73,891.99 15,664.17 3,039,742.11 186 25-Feb-21 72,194.32 15,292.44 2,967,547.79 187 25-Mar-21 70,535.64 14,929.24 2,897,012.14 188 25-Apr-21 68,915.05 14,574.39 2,828,097.10 189 25-May-21 67,331.65 14,227.69 2,760,765.44 190 25-Jun-21 65,784.58 13,888.95 2,694,980.86 191 25-Jul-21 64,273.00 13,558.00 2,630,707.86 192 25-Aug-21 62,796.07 13,234.65 2,567,911.79 193 25-Sep-21 61,353.00 12,918.74 2,506,558.79 194 25-Oct-21 59,942.98 12,610.08 2,446,615.80 195 25-Nov-21 97,978.75 12,308.52 2,348,637.06 196 25-Dec-21 116,535.83 11,815.60 2,232,101.23 197 25-Jan-22 113,856.89 11,229.33 2,118,244.34 198 25-Feb-22 111,239.24 10,656.53 2,007,005.09 199 25-Mar-22 108,681.47 10,096.91 1,898,323.62 200 25-Apr-22 106,182.19 9,550.15 1,792,141.43 201 25-May-22 103,740.04 9,015.96 1,688,401.39 202 25-Jun-22 101,353.70 8,494.07 1,587,047.69 203 25-Jul-22 99,021.88 7,984.17 1,488,025.80 204 25-Aug-22 96,743.32 7,486.01 1,391,282.49 205 25-Sep-22 94,516.78 6,999.31 1,296,765.71 206 25-Oct-22 92,341.06 6,523.81 1,204,424.65 207 25-Nov-22 90,214.99 6,059.26 1,114,209.66 208 25-Dec-22 88,137.43 5,605.40 1,026,072.23 209 25-Jan-23 86,107.25 5,162.00 939,964.97 210 25-Feb-23 84,123.36 4,728.81 855,841.61 211 25-Mar-23 82,184.70 4,305.60 773,656.91 212 25-Apr-23 80,290.22 3,892.14 693,366.69 213 25-May-23 78,438.90 3,488.21 614,927.79 214 25-Jun-23 76,629.76 3,093.60 538,298.03 215 25-Jul-23 74,861.82 2,708.09 463,436.22 216 25-Aug-23 73,134.13 2,331.47 390,302.09 217 25-Sep-23 71,445.77 1,963.54 318,856.32 218 25-Oct-23 69,795.83 1,604.11 249,060.49 219 25-Nov-23 68,183.44 1,252.98 180,877.04 220 25-Dec-23 66,607.74 909.96 114,269.31 221 25-Jan-24 65,067.87 574.87 49,201.44 222 25-Feb-24 49,201.44 247.52 0
DISCLAIMER This Series Term Sheet, including the computational materials herein, was prepared solely by FBR, is intended for use by the addressee only, and may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating such information. This information is furnished to you solely by FBR and not by the Depositor, the Issuer of the securities or any of their affiliates. FBR is acting as underwriter and not acting as agent for the Depositor, the Issuer or their affiliates in connection with the proposed transaction. This material is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All information contained herein is preliminary and it is anticipated that such information will change. The information contained herein supersedes information contained in any prior series termsheet for this transaction. In addition, the information contained herein will be superseded by information contained in the prospectus and prospectus supplement for this transaction and in any other material subsequently filed with the Securities and Exchange Commission. An offering may be made only through the delivery of the prospectus and prospectus supplement. Any investment decision with respect to the referenced securities should be made by you solely upon all of the information contained in the prospectus and prospectus supplements. EX-99 3 ex99-2.txt EXHIBIT 99.2 EXHIBIT 99.2 [GRAPHIC OMITTED] POPULAR PRELIMINARY SAMPLE [GRAPHIC OMITTED] ABS, INC. (SM) POPULAR ABS 2005-4 COMPUTATIONAL MATERIALS DISCLAIMER The attached tables and other statistical analyses (the "Computational Materials") are privileged and intended for use by the addressee only. These Computational Materials have been prepared by Friedman, Billings, Ramsey & Co., Inc. in reliance upon information furnished by the issuer of the securities and its affiliates. These Computational Materials are furnished to you solely by Friedman, Billings, Ramsey & Co., Inc. and not by the issuer of the securities. They may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating said materials. Numerous assumptions were used in preparing the Computational Materials which may or may not be reflected therein. As such, no assurance can be given as to the Computational Materials' accuracy, appropriateness or completeness in any particular context; nor as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfall. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the actual underlying assets and the hypothetical underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. Neither Friedman, Billings, Ramsey & Co., Inc. nor any of its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or the payments or yield on the securities. Although a registration statement (including the Prospectus) relating to the securities discussed in this communication has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities discussed in this communication has not been filed with Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities discussed in this communication in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the securities laws of any such state. Prospective purchasers are referred to the final prospectus supplement relating to the securities discussed in this communication for definitive Computational Materials and any matter discussed in this communication. Once available, a final prospectus and prospectus supplement may be obtained by contacting the FBR Trading Desk at (703) 469-1225. Please be advised that the securities described herein may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayment, yield curve and interest rate risks. Investors should make every effort to consider the risks of these securities. If you have received this communication in error, please notify the sending party immediately by telephone and return the original to such party by mail.
LIBOR_1MO 3.55 LIBOR_6MO 3.96 PREPAY 50 PRICINGSPEED 75 PRICINGSPEED 100 PRICINGSPEED 125 PRICINGSPEED 150 PRICINGSPEED Date 25-Aug-05 100 100 100 100 100 25-Aug-06 100 100 100 100 100 25-Aug-07 100 100 100 78 2 25-Aug-08 100 88 25 0 0 25-Aug-09 98 51 8 0 0 25-Aug-10 67 15 0 0 0 25-Aug-11 45 0 0 0 0 25-Aug-12 19 0 0 0 0 25-Aug-13 0 0 0 0 0 25-Aug-14 0 0 0 0 0 25-Aug-15 0 0 0 0 0 25-Aug-16 0 0 0 0 0 25-Aug-17 0 0 0 0 0 25-Aug-18 0 0 0 0 0 25-Aug-19 0 0 0 0 0 25-Aug-20 0 0 0 0 0 25-Aug-21 0 0 0 0 0 25-Aug-22 0 0 0 0 0 25-Aug-23 0 0 0 0 0 25-Aug-24 0 0 0 0 0 25-Aug-25 0 0 0 0 0 25-Aug-26 0 0 0 0 0 25-Aug-27 0 0 0 0 0 25-Aug-28 0 0 0 0 0 25-Aug-29 0 0 0 0 0 25-Aug-30 0 0 0 0 0 25-Aug-31 0 0 0 0 0 25-Aug-32 0 0 0 0 0 25-Aug-33 0 0 0 0 0 25-Aug-34 0 0 0 0 0 25-Aug-35 0 0 0 0 0 WAL To Maturity 5.84 4.08 3.00 2.22 1.82 WAL To Call 5.84 4.08 3.00 2.22 1.82
DISCLAIMER This Series Term Sheet, including the computational materials herein, was prepared solely by FBR, is intended for use by the addressee only, and may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating such information. This information is furnished to you solely by FBR and not by the Depositor, the Issuer of the securities or any of their affiliates. FBR is acting as underwriter and not acting as agent for the Depositor, the Issuer or their affiliates in connection with the proposed transaction. This material is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All information contained herein is preliminary and it is anticipated that such information will change. The information contained herein supersedes information contained in any prior series termsheet for this transaction. In addition, the information contained herein will be superseded by information contained in the prospectus and prospectus supplement for this transaction and in any other material subsequently filed with the Securities and Exchange Commission. An offering may be made only through the delivery of the prospectus and prospectus supplement. Any investment decision with respect to the referenced securities should be made by you solely upo all of the information contained in the prospectus and prospectus supplements. -----END PRIVACY-ENHANCED MESSAGE-----