-----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, AtcOtu+8gGUlsDxJdz5vXq6mnC7dgzlmaD9bsWNc+8juxCkrfwLhCiRN1TY+Yn5H KU3LcQUfpci38UUzXvhK0A== 0000950123-05-013936.txt : 20051121 0000950123-05-013936.hdr.sgml : 20051121 20051121131259 ACCESSION NUMBER: 0000950123-05-013936 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 19 CONFORMED PERIOD OF REPORT: 20051101 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051121 DATE AS OF CHANGE: 20051121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH MORTGAGE INVESTORS INC CENTRAL INDEX KEY: 0000809940 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 135674085 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-29051 FILM NUMBER: 051217320 BUSINESS ADDRESS: STREET 1: 4LD FINANCIAL CENTER FLOOR 10 CITY: NEW YORK STATE: NY ZIP: 10281-1310 BUSINESS PHONE: 2124491000 MAIL ADDRESS: STREET 1: WORLD FINANCIAL CTR N TOWER STREET 2: 250 VESEY ST 10TH FL CITY: NEW YORK STATE: NY ZIP: 10281-1310 8-K 1 x14945e8vk.txt FORM 8-K ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): November 1, 2005 ---------------- Merrill Lynch Mortgage Investors, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant specified in Charter) Delaware 333- 127233 13-3416059 - -------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 250 Vesey Street 4 World Financial Center 10th Floor New York, New York 10080 - -------------------------------------------------------------------------------- (Address of principal executive offices) Zip Code REGISTRANT'S TELEPHONE, INCLUDING AREA CODE: (212) 449-0357 No Change - -------------------------------------------------------------------------------- (Former name and former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ================================================================================ ITEM 8.01 Other Events.(1) Attached hereto as exhibits are certain materials (the "Computational Materials") furnished to the Registrant by Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "Underwriter") in respect of Merill Lynch Mortgage Investors Trust, Series 2005-A8 Mortgage Loan Asset-Backed Certificates (the "Certificates"). The Certificates are being offered pursuant to a Prospectus Supplement and accompanying Prospectus (together, the "Prospectus"). The Prospectus was filed with the Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the "Act"). The Certificates have been registered pursuant to the Act under a Registration Statement on Form S-3 (333-127233) (the "Registration Statement"). The Computational Materials are incorporated by reference in the Registration Statement. The Computational Materials were prepared solely by the Underwriter, and the Registrant did not prepare or participate (other than providing the background information concerning the underlying pool of assets upon which the Computational Materials are based to the Underwriter) in the preparation of the Computational Materials. Any statements or information contained in the Computational Materials shall be deemed to be modified or superseded for purposes of the Prospectus and the Registration Statement by statements or information contained in the Prospectus. - ---------- 1 Capitalized terms used but not otherwise defined herein shall have the same meanings ascribed to them in the Prospectus. ITEM 9.01. Financial Statements; Pro Forma Information and Exhibits. (a) Not applicable. (b) Not applicable. (c) Exhibits: 99.1 Computational Materials 99.2 Computational Materials 99.3 Computational Materials 99.4 Computational Materials 99.5 Computational Materials 99.6 Computational Materials 99.7 Computational Materials 99.8 Computational Materials 99.9 Computational Materials 99.10 Computational Materials 99.11 Computational Materials 99.12 Computational Materials 99.13 Computational Materials 99.14 Computational Materials 99.15 Computational Materials 99.16 Computational Materials 99.17 Computational Materials 99.18 Computational Materials SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MERRILL LYNCH MORTGAGE INVESTORS, INC. By: /s/ Matthew Whalen ------------------ Name: Matthew Whalen Title: President Date: November 21, 2005 EXHIBIT INDEX
Exhibit No. Description Page No. - ----------- ----------- -------- 99.1 Computational Materials 99.2 Computational Materials 99.3 Computational Materials 99.4 Computational Materials 99.5 Computational Materials 99.6 Computational Materials 99.7 Computational Materials 99.8 Computational Materials 99.9 Computational Materials 99.10 Computational Materials 99.11 Computational Materials 99.12 Computational Materials 99.13 Computational Materials 99.14 Computational Materials 99.15 Computational Materials 99.16 Computational Materials 99.17 Computational Materials 99.18 Computational Materials
EX-99.1 2 x14945exv99w1.txt COMPUTATIONAL MATERIALS Exhibit 99.1 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement.
SCENARIO 1 2 3 4 5 SPEED PRICING 65% pricing 65% pricing 65% pricing 65% pricing 100% pricing RATES Forward Forward Forward+200 Forward+200 Forward TRIGGERS Fail Fail Fail Fail Fail CLEANUP CALL To Maturity To Maturity To Maturity To Maturity To Maturity DEFAULT P&I 100% Advance 100% Advance 100% Advance 100% Advance 100% Advance ADVANCE DEFAULT SEVERITY 35% 45% 35% 45% 35% DEFAULT Months 12 months 12 months 12 months 12 months 12 months RECOVERY LAG DEFAULT BALANCE Current Current Current Current Current Balance Balance Balance Balance Balance CPR = CDR + CRR Capped at prepay CPR = CRR PSA standard CPR = CRR CPR = CRR CPR = CRR CPR = CRR CPR = CRR INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET A AAA/Aaa 91.95 8.05 CDR CummLosses M1 AA2/[AA] 2.60 5.45 SDA 1,672.2 1,270.2 1,370.0 1,046.5 2,096.6 WAL 16.33 16.83 17.31 17.67 10.97 CummLosses 8.38% 8.57% 7.11% 7.25% 7.08% M2 A2/[AA] 2.05 3.40 CDR CummLosses B1 BAA2/[A] 1.30 2.10 SDA 948.2 732.8 692.3 536.9 1,014.3 WAL 19.68 19.66 21.00 20.84 14.13 CummLosses 5.17% 5.27% 3.89% 3.95% 3.78% B2 BAA3/[BBB] 0.50 1.60 CDR CummLosses - - - - - OC 1.60 1.60 - - - - -
SCENARIO 6 7 8 SPEED 100% pricing 100% pricing 100% pricing RATES Forward Forward+200 Forward+200 TRIGGERS Fail Fail Fail CLEANUP CALL To Maturity To Maturity To Maturity DEFAULT P&I 100% Advance 100% Advance 100% Advance ADVANCE DEFAULT SEVERITY 45% 35% 45% DEFAULT 12 months 12 months 12 months RECOVERY LAG DEFAULT BALANCE Current Current Current Balance Balance Balance CPR = CDR + CRR CPR = CRR CPR = CRR CPR = CRR CPR = CRR INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET A AAA/Aaa 91.95 8.05 M1 AA2/[AA] 2.60 5.45 1,575.2 1,754.3 1,324.3 11.55 11.42 11.91 7.17% 6.11% 6.17% M2 A2/[AA] 2.05 3.40 B1 BAA2/[A] 1.30 2.10 781.0 748.2 577.6 14.39 14.47 14.66 3.83% 2.86% 2.89% B2 BAA3/[BBB] 0.50 1.60 - - - OC 1.60 1.60 - - -
EX-99.2 3 x14945exv99w2.txt COMPUTATIONAL MATERIALS Exhibit 99.2 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement.
SCENARIO 1 2 - ------------------------------------------------------- -------------------------- -------------- SPEED PRICING 100% pricing 100% pricing RATES Forward Forward+200 TRIGGERS Fail Fail CLEANUP CALL To Maturity To Maturity DEFAULT P&I ADVANCE 100% Advance 100% Advance DEFAULT SEVERITY 35% 35% DEFAULT RECOVERY LAG Months 12 months 12 months DEFAULT BALANCE Current Current Balance Balance CPR = CDR + CRR Capped at prepay CPR = CRR PSA standard CPR = CRR CPR = CRR INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET A AAA/Aaa 91.95 8.05 CDR CummLosses M1 AA2/[AA] 2.60 5.45 CDR CummLosses M2 A2/[AA] 2.05 3.40 CDR 5.417 4.219 CummLosses 5.05% 4.04% B1 BAA2/[A] 1.30 2.10 CDR CummLosses B2 BAA3/[BBB] 0.50 1.60 CDR CummLosses - - OC 1.60 1.60 - -
EX-99.3 4 x14945exv99w3.txt COMPUTATIONAL MATERIALS Exhibit 99.3 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., {MERRILL LYNCH LOGO} SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI 2005-A8 *** PLEASE FILL IN THE WAL'S & WINDOWS FOR THE BOTTOM 3 SCENARIOS (ONLY) ***
TRANCHE, RATINGS NO PREPAY STRESS M2 FWD LIBOR/SWAP SHIFT FORWARD LIBOR +200BP 1.00x Base 1.00x Base PREPAY ASSUMPTIONS Case Case LOSS SEVERITY: 40% RECOVERY DELAY: 12 MONTHS % Cum Loss Yield Break 8.46% 7.89% CDR - Yield Break 8.478 7.789 % Cum Loss 1st $ Principal Loss 7.10% 6.11% CDR - 1st $ Principal Loss 6.883 5.782 LOSS SEVERITY: 60% RECOVERY DELAY: 12 MONTHS % Cum Loss Yield Break 8.69% 8.07% CDR - Yield Break 5.442 5.002 % Cum Loss 1st $ Principal Loss 7.23% 6.18% CDR - 1st $ Principal Loss 4.426 3.725 LOSS SEVERITY: 40% RECOVERY DELAY: 12 MONTHS. NO ADVANCE % Cum Loss Yield Break 7.50% 6.86% CDR - Yield Break 7.341 6.61 % Cum Loss 1st $ Principal Loss 6.27% 5.30% CDR - 1st $ Principal Loss 5.956 4.923 LOSS SEVERITY: 60% RECOVERY DELAY: 12 MONTHS. NO ADVANCE % Cum Loss Yield Break 7.98% 7.34% CDR - Yield Break 4.943 4.497 % Cum Loss 1st $ Principal Loss 6.62% 5.61% CDR - 1st $ Principal Loss 4.018 3.353
M2 FWD LIBOR/SWAP SHIFT FORWARD LIBOR +200BP +200BP PREPAY ASSUMPTIONS 1.00x Base Case 0.50x Base Case Fixed - 50% Floating - 100% LOSS SEVERITY: 50% RECOVERY DELAY: 12 MONTHS % Cum Loss Yield Break 8.60% 8.00% 8.57% CDR - Yield Break 6.63 6.091 5.165 % Cum Loss 1st $ Principal Loss 7.18% 6.15% 6.39% CDR - 1st $ Principal Loss 5.389 4.531 3.67 LOSS SEVERITY: 50% RECOVERY DELAY: 12 MONTHS. NO ADVANCE % Cum Loss Yield Break 7.78% 7.14% 7.67% CDR - Yield Break 5.908 5.354 4.526 % Cum Loss 1st $ Principal Loss 6.48% 5.49% 5.70% CDR - 1st $ Principal Loss 4.799 3.991 3.226 ===== ===== ===== Average Life: 11.70 11.95 17.21 Window (Dates): FEB15 - AUG35 APR15 - AUG35 JAN19 - AUG35
MLMI 2005-A8 Investor Bond Requests (Dynamic).xls EX-99.4 5 x14945exv99w4.txt COMPUTATIONAL MATERIALS Exhibit 99.4 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., {MERRILL LYNCH LOGO} SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_ENGELKING - PRICE/YIELD - A1B4 Balance $14,112,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP Yield Yield Yield Yield 98.77800 5.45 5.46 5.47 5.52 98.78800 5.45 5.46 5.47 5.52 98.79800 5.45 5.46 5.47 5.51 98.80800 5.45 5.46 5.47 5.51 98.81800 5.44 5.45 5.46 5.51 98.82800 5.44 5.45 5.46 5.51 98.83800 5.44 5.45 5.46 5.51 98.84800 5.44 5.45 5.46 5.50 98.85800 5.44 5.45 5.46 5.50 98.86800 5.44 5.45 5.45 5.50 98.87800 5.43 5.44 5.45 5.50 98.88800 5.43 5.44 5.45 5.50 98.89800 5.43 5.44 5.45 5.49 98.90800 5.43 5.44 5.45 5.49 98.91800 5.43 5.44 5.45 5.49 98.92800 5.43 5.43 5.44 5.49 98.93800 5.42 5.43 5.44 5.49 98.94800 5.42 5.43 5.44 5.48 98.95800 5.42 5.43 5.44 5.48 98.96800 5.42 5.43 5.44 5.48 98.97800 5.42 5.43 5.43 5.48 WAL 7.85 7.14 6.67 6.16 Mod Durn 6.140 5.705 5.405 5.066 Principal Window Nov08 - Mar32 Nov08 - Aug28 Nov08 - Aug24 Jan 09 - Oct18 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP Optional Redemption Call (N) Call (N) Call (N) Call (N)
swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082 MLMI05_A8_ENGELKING - PRICE/YIELD - A1B4 Balance $14,112,000.00 Delay 24 WAC 6.286 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.899 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP Yield Yield Yield Yield 98.77800 5.45 5.46 5.47 5.49 98.78800 5.45 5.46 5.47 5.49 98.79800 5.45 5.46 5.47 5.49 98.80800 5.44 5.46 5.46 5.49 98.81800 5.44 5.45 5.46 5.49 98.82800 5.44 5.45 5.46 5.48 98.83800 5.44 5.45 5.46 5.48 98.84800 5.44 5.45 5.46 5.48 98.85800 5.44 5.45 5.45 5.48 98.86800 5.44 5.44 5.45 5.47 98.87800 5.43 5.44 5.45 5.47 98.88800 5.43 5.44 5.45 5.47 98.89800 5.43 5.44 5.45 5.47 98.90800 5.43 5.44 5.45 5.47 98.91800 5.43 5.44 5.44 5.46 98.92800 5.43 5.43 5.44 5.46 98.93800 5.42 5.43 5.44 5.46 98.94800 5.42 5.43 5.44 5.46 98.95800 5.42 5.43 5.44 5.46 98.96800 5.42 5.43 5.43 5.45 98.97800 5.42 5.43 5.43 5.45 WAL 7.85 7.13 6.63 5.60 Mod Durn 6.138 5.698 5.379 4.692 Principal Window Nov08 - Sep23 Nov08 - Nov18 Nov08 - Oct15 Jan09 - Apr12 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
EX-99.5 6 x14945exv99w5.txt COMPUTATIONAL MATERIALS Exhibit 99.5 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_MARKET_GIC - PRICE/YIELD - A1B4 Balance $14,112,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 1 2 3 4 5 Yield Yield Yield Yield Yield 98.77800 5.46 5.47 5.49 5.52 5.57 98.78800 5.46 5.47 5.49 5.52 5.56 98.79800 5.46 5.47 5.48 5.52 5.56 98.80800 5.46 5.47 5.48 5.52 5.56 98.81800 5.45 5.46 5.48 5.52 5.56 98.82800 5.45 5.46 5.48 5.51 5.56 98.83800 5.45 5.46 5.48 5.51 5.55 98.84800 5.45 5.46 5.47 5.51 5.55 98.85800 5.45 5.46 5.47 5.51 5.55 98.86800 5.45 5.46 5.47 5.51 5.55 98.87800 5.44 5.45 5.47 5.50 5.55 98.88800 5.44 5.45 5.47 5.50 5.54 98.89800 5.44 5.45 5.46 5.50 5.54 98.90800 5.44 5.45 5.46 5.50 5.54 98.91800 5.44 5.45 5.46 5.50 5.54 98.92800 5.43 5.44 5.46 5.49 5.54 98.93800 5.43 5.44 5.46 5.49 5.53 98.94800 5.43 5.44 5.45 5.49 5.53 98.95800 5.43 5.44 5.45 5.49 5.53 98.96800 5.43 5.44 5.45 5.49 5.53 98.97800 5.43 5.43 5.45 5.48 5.53 WAL 7.15 6.69 6.39 6.21 6.11 Mod Durn 5.710 5.416 5.221 5.102 5.026 Principal Window Nov08 - Jul28 Nov08 - Aug24 Dec08 - Mar21 Feb09 - Aug18 Mar09 - Sep16 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 15 CPR 20 CPR 25 CPR 30 CPR 35 CPR Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
EX-99.6 7 x14945exv99w6.txt COMPUTATIONAL MATERIALS Exhibit 99.6 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement.
SCENARIO 1 2 3 4 SPEED PRICING 100% pricing 100% pricing 100% pricing 100% pricing RATES Forward Forward Forward-50 Forward-50 TRIGGERS Fail Fail Fail Fail CLEANUP CALL To Maturity To Maturity To Maturity To Maturity DEFAULT P&I ADVANCE 0% Advance 0% Advance 0% Advance 0% Advance DEFAULT SEVERITY 30% 40% 30% 40% DEFAULT RECOVERY LAG Months 12 months 12 months 12 months 12 months DEFAULT BALANCE Current Balance Current Balance Current Balance Current Balance CPR = CDR + CRR Capped at prepay CPR = CRR PSA standard CPR = CRR CPR = CRR CPR = CRR CPR = CRR INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET A AAA/AAA 91.95 8.05 CDR CummLosses M1 AA2/[AA] 2.60 5.45 CDR 7.855 5.956 8.381 6.342 CummLosses 5.96% 6.27% 6.29% 6.62% M2 A2/[AA] 2.05 3.40 CDR 5.313 4.082 5.808 4.454 CummLosses 4.25% 4.48% 4.60% 4.85% B1 BAA2/[A] 1.30 2.10 CDR CummLosses B2 BAA3/[BBB] 0.50 1.60 CDR CummLosses - - - - OC 1.60 1.60 - - - -
SCENARIO 5 6 7 8 SPEED 100% pricing 100% pricing 100% pricing 100% pricing RATES Forward+100 Forward+100 Forward+200 Forward+200 TRIGGERS Fail Fail Fail Fail CLEANUP CALL To Maturity To Maturity To Maturity To Maturity DEFAULT P&I ADVANCE 0% Advance 0% Advance 0% Advance 0% Advance DEFAULT SEVERITY 30% 40% 30% 40% DEFAULT RECOVERY LAG 12 months 12 months 12 months 12 months DEFAULT BALANCE Current Balance Current Balance Current Balance Current Balance CPR = CDR + CRR CPR = CRR CPR = CRR CPR = CRR CPR = CRR CPR = CRR INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET A AAA/AAA 91.95 8.05 M1 AA2/[AA] 2.60 5.45 6.838 5.229 6.419 4.923 5.30% 5.59% 5.02% 5.30% M2 A2/[AA] 2.05 3.40 4.419 3.409 4.066 3.144 3.61% 3.80% 3.35% 3.53% B1 BAA2/[A] 1.30 2.10 B2 BAA3/[BBB] 0.50 1.60 - - - - OC 1.60 1.60 - - - -
EX-99.7 8 x14945exv99w7.txt COMPUTATIONAL MATERIALS Exhibit 99.7 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_MARKET_SIMCOX2 - PRICE/YIELD - A1B2 Balance $36,501,000 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
PRICE 6 CPR 10 CPR 15 CPR 20 CPR 25 CPR 30 CPR YIELD YIELD YIELD YIELD YIELD YIELD - ------------------------------------------------------------------------------------------------------------- 99.45472 5.33 5.34 5.35 5.37 5.39 5.41 99.46472 5.33 5.34 5.35 5.37 5.38 5.40 99.47472 5.33 5.34 5.35 5.36 5.38 5.40 99.48472 5.33 5.34 5.35 5.36 5.37 5.39 99.49472 5.33 5.33 5.34 5.36 5.37 5.39 99.50472 5.33 5.33 5.34 5.35 5.37 5.38 99.51472 5.32 5.33 5.34 5.35 5.36 5.38 99.52472 5.32 5.33 5.34 5.35 5.36 5.37 99.53472 5.32 5.33 5.34 5.34 5.35 5.37 99.54472 5.32 5.33 5.33 5.34 5.35 5.36 99.55472 5.32 5.32 5.33 5.34 5.35 5.36 99.56472 5.32 5.32 5.33 5.33 5.34 5.35 99.57472 5.32 5.32 5.33 5.33 5.34 5.35 99.58472 5.32 5.32 5.32 5.33 5.33 5.34 99.59472 5.31 5.32 5.32 5.33 5.33 5.34 99.60472 5.31 5.32 5.32 5.32 5.33 5.33 99.61472 5.31 5.31 5.32 5.32 5.32 5.33 99.62472 5.31 5.31 5.31 5.32 5.32 5.32 99.63472 5.31 5.31 5.31 5.31 5.31 5.32 99.64472 5.31 5.31 5.31 5.31 5.31 5.31 99.65472 5.31 5.31 5.31 5.31 5.31 5.31 WAL 11.23 7.53 4.89 3.57 2.75 2.17 Mod Durn 8.18 5.98 4.17 3.15 2.48 2.00 Principal Window Jan13 - Oct21 Jun10 - Aug17 Dec08 - Oct13 Mar08 - Mar11 Sep07 - Dec09 May07 - Oct08 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 6 CPR 10 CPR 15 CPR 20 CPR 25 CPR 30 CPR Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N)
swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr 4.934 4.967 4.997 5.023 5.053 5.082 MLMI05_A8_MARKET_SIMCOX2 - PRICE/YIELD - A1B2 Balance $36,501,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
PRICE 6 CPR 10 CPR 15 CPR 20 CPR 25 CPR 30 CPR YIELD YIELD YIELD YIELD YIELD YIELD - ------------------------------------------------------------------------------------------------------------------ 99.45472 5.33 5.34 5.35 5.37 5.39 5.41 99.46472 5.33 5.34 5.35 5.37 5.38 5.40 99.47472 5.33 5.34 5.35 5.36 5.38 5.40 99.48472 5.33 5.34 5.35 5.36 5.37 5.39 99.49472 5.33 5.33 5.34 5.36 5.37 5.39 99.50472 5.33 5.33 5.34 5.35 5.37 5.38 99.51472 5.32 5.33 5.34 5.35 5.36 5.38 99.52472 5.32 5.33 5.34 5.35 5.36 5.37 99.53472 5.32 5.33 5.34 5.34 5.35 5.37 99.54472 5.32 5.33 5.33 5.34 5.35 5.36 99.55472 5.32 5.32 5.33 5.34 5.35 5.36 99.56472 5.32 5.32 5.33 5.33 5.34 5.35 99.57472 5.32 5.32 5.33 5.33 5.34 5.35 99.58472 5.32 5.32 5.32 5.33 5.33 5.34 99.59472 5.31 5.32 5.32 5.33 5.33 5.34 99.60472 5.31 5.32 5.32 5.32 5.33 5.33 99.61472 5.31 5.31 5.32 5.32 5.32 5.33 99.62472 5.31 5.31 5.31 5.32 5.32 5.32 99.63472 5.31 5.31 5.31 5.31 5.31 5.32 99.64472 5.31 5.31 5.31 5.31 5.31 5.31 99.65472 5.31 5.31 5.31 5.31 5.31 5.31 WAL 11.23 7.53 4.89 3.57 2.75 2.17 Mod Durn 8.179 5.976 4.169 3.150 2.482 1.995 Principal Window Jan13 - Oct21 Jun10 - Aug17 Dec08 - Oct13 Mar08 - Mar11 Sep07 - Dec09 May07 - Oct08 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 6 CPR 10 CPR 15 CPR 20 CPR 25 CPR 30 CPR Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y)
swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082 EX-99.8 9 x14945exv99w8.txt COMPUTATIONAL MATERIALS Exhibit 99.8 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_SIMCOX2 - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
PRICE 8 CPR 15 CPR 20 CPR 25 CPR 30 CPR 45 CPR - ------------------------------------------------------------------------------------------------------------- Yield Yield Yield Yield Yield Yield 99.89247 5.20 5.12 5.06 5.00 4.93 4.69 WAL 2.52 1.41 1.06 0.83 0.68 0.41 Mod Durn 2.248 1.311 0.994 0.789 0.646 0.393 Principal Window Nov05 - Jul11 Nov05 - Dec08 Nov05 - Mar08 Nov05 - Sep07 Nov05 - May07 Nov05 - Oct06 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 CPR 15 CPR 20 CPR 25 CPR 30 CPR 45 CPR Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N)
swap2005110V2 Mat 1yr 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.846 4.865 4.890 4.933 4.967 4.988 5.016 5.040 5.064 5.098 MLMI05_A8_SIMCOX2 - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
PRICE 8 CPR 15 CPR 20 CPR 25 CPR 30 CPR 45 CPR - ------------------------------------------------------------------------------------------------------------- Yield Yield Yield Yield Yield Yield 99.89247 5.20 5.12 5.06 5.00 4.93 4.69 WAL 2.52 1.41 1.06 0.83 0.68 0.41 Mod Durn 2.248 1.311 0.994 0.789 0.646 0.393 Principal Window Nov05 - Jul11 Nov05 - Dec08 Nov05 - Mar08 Nov05 - Sep07 Nov05 - May07 Nov05 - Oct06 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 CPR 15 CPR 20 CPR 25 CPR 30 CPR 45 CPR Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y)
swap2005110V2 Mat 1yr 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.846 4.865 4.890 4.933 4.967 4.988 5.016 5.040 5.064 5.098 EX-99.9 10 x14945exv99w9.txt COMPUTATIONAL MATERIALS Exhibit 99.9 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_MARKET_SIMCOX - PRICE/YIELD - A1B1 Balance $66,936,000 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
PRICE 8 CPR 15 CPR 20 CPR 25 CPR 30 CPR 45 CPR TO MATURITY YIELD YIELD YIELD YIELD YIELD YIELD - ------------------------------------------------------------------------------------------------------------- 99.75759 5.26 5.23 5.20 5.17 5.14 5.03 99.76759 5.26 5.22 5.19 5.16 5.13 5.01 99.77759 5.25 5.21 5.18 5.15 5.11 4.98 99.78759 5.25 5.20 5.17 5.13 5.09 4.96 99.79759 5.24 5.20 5.16 5.12 5.08 4.93 99.80759 5.24 5.19 5.15 5.11 5.06 4.91 99.81759 5.23 5.18 5.14 5.10 5.05 4.88 99.82759 5.23 5.17 5.13 5.08 5.03 4.86 99.83759 5.22 5.16 5.12 5.07 5.02 4.83 99.84759 5.22 5.16 5.11 5.06 5.00 4.80 99.85759 5.22 5.15 5.10 5.05 4.99 4.78 99.86759 5.21 5.14 5.09 5.03 4.97 4.75 99.87759 5.21 5.13 5.08 5.02 4.96 4.73 99.88759 5.20 5.13 5.07 5.01 4.94 4.70 99.89759 5.20 5.12 5.06 4.99 4.93 4.68 99.90759 5.19 5.11 5.05 4.98 4.91 4.65 99.91759 5.19 5.10 5.04 4.97 4.89 4.63 99.92759 5.18 5.10 5.03 4.96 4.88 4.60 99.93759 5.18 5.09 5.02 4.94 4.86 4.58 99.94759 5.18 5.08 5.01 4.93 4.85 4.55 99.95759 5.17 5.07 5.00 4.92 4.83 4.53 WAL 2.52 1.41 1.06 0.83 0.68 0.41 Mod Durn 2.25 1.31 0.99 0.79 0.65 0.39 Principal Window Nov05 - Jul11 Nov05 - Dec08 Nov05 - Mar08 Nov05 - Sep07 Nov05 - May07 Nov05 - Oct06 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N)
swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
PRICE 8 CPR 15 CPR 20 CPR 25 CPR 30 CPR 45 CPR TO CALL YIELD YIELD YIELD YIELD YIELD YIELD - ----------------------------------------------------------------------------------------------------------- 99.75759 5.26 5.23 5.20 5.17 5.14 5.03 99.76759 5.26 5.22 5.19 5.16 5.13 5.01 99.77759 5.25 5.21 5.18 5.15 5.11 4.98 99.78759 5.25 5.20 5.17 5.13 5.09 4.96 99.79759 5.24 5.20 5.16 5.12 5.08 4.93 99.80759 5.24 5.19 5.15 5.11 5.06 4.91 99.81759 5.23 5.18 5.14 5.10 5.05 4.88 99.82759 5.23 5.17 5.13 5.08 5.03 4.86 99.83759 5.22 5.16 5.12 5.07 5.02 4.83 99.84759 5.22 5.16 5.11 5.06 5.00 4.80 99.85759 5.22 5.15 5.10 5.05 4.99 4.78 99.86759 5.21 5.14 5.09 5.03 4.97 4.75 99.87759 5.21 5.13 5.08 5.02 4.96 4.73 99.88759 5.20 5.13 5.07 5.01 4.94 4.70 99.89759 5.20 5.12 5.06 4.99 4.93 4.68 99.90759 5.19 5.11 5.05 4.98 4.91 4.65 99.91759 5.19 5.10 5.04 4.97 4.89 4.63 99.92759 5.18 5.10 5.03 4.96 4.88 4.60 99.93759 5.18 5.09 5.02 4.94 4.86 4.58 99.94759 5.18 5.08 5.01 4.93 4.85 4.55 99.95759 5.17 5.07 5.00 4.92 4.83 4.53 WAL 2.52 1.41 1.06 0.83 0.68 0.41 Mod Durn 2.25 1.31 0.99 0.79 0.65 0.39 Principal Window Nov05 - Jul11 Nov05 - Dec08 Nov05 - Mar08 Nov05 - Sep07 Nov05 - May07 Nov05 - Oct06 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y)
EX-99.10 11 x14945exv99w10.txt COMPUTATIONAL MATERIALS Exhibit 99.10 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement.
SCENARIO 1 2 3 4 SPEED PRICING 100% pricing 100% pricing 100% pricing 100% pricing RATES Forward Forward Forward Forward TRIGGERS Fail Fail Fail Fail CLEANUP CALL To Maturity To Maturity To Maturity To Maturity DEFAULT P&I ADVANCE 100% Advance 100% Advance 100% Advance 100% Advance DEFAULT SEVERITY 35% 45% 55% 40% DEFAULT RECOVERY LAG Months 0 months 0 months 0 months 0 months DEFAULT BALANCE Current Balance Current Balance Current Balance Current Balance CPR = CDR + CRR Capped at prepay CPR = CRR PSA standard CPR = CRR CPR = CRR CPR = CRR CPR = CRR - -------------------------------------------------------------------------------------------------------------------------------- INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET - -------------------------------------------------------------------------------------------------------------------------------- A AAA/Aaa 91.95 8.05 CDR CummLosses M1 AA2/[AA] 2.60 5.45 CDR 9.018 6.816 5.478 7.763 CummLosses 7.79% 7.93% 8.01% 7.87% M2 A2/[AA] 2.05 3.40 CDR 6.297 4.825 3.910 5.461 CummLosses 5.76% 5.86% 5.92% 5.81% B1 BAA2/[A] 1.30 2.10 CDR 4.739 3.660 2.981 4.130 CummLosses 4.48% 4.56% 4.61% 4.53% B2 BAA3/[BBB] 0.50 1.60 CDR 4.306 3.337 2.723 3.759 CummLosses 4.11% 4.19% 4.24% 4.15% -- -- -- -- OC 1.60 1.60 -- -- -- --
SCENARIO 5 6 7 SPEED PRICING 100% pricing 100% pricing 100% pricing RATES Forward+200 Forward Forward+200 TRIGGERS Fail Fail Fail CLEANUP CALL To Maturity To Maturity To Maturity DEFAULT P&I ADVANCE 100% Advance 100% Advance 100% Advance DEFAULT SEVERITY 40% 40% 40% DEFAULT RECOVERY LAG Months 0 months 6 months 6 months DEFAULT BALANCE Current Balance Current Balance Current Balance CPR = CDR + CRR Capped at prepay CPR = CRR PSA standard CPR = CRR CPR = CRR CPR = CRR - --------------------------------------------------------------------------------------------------------------- INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET - --------------------------------------------------------------------------------------------------------------- A AAA/Aaa 91.95 8.05 CDR CummLosses M1 AA2/[AA] 2.60 5.45 CDR 6.045 7.136 5.805 CummLosses 6.35% 7.33% 6.13% M2 A2/[AA] 2.05 3.40 CDR 3.842 4.947 3.690 CummLosses 4.24% 5.32% 4.09% B1 BAA2/[A] 1.30 2.10 CDR 2.593 3.676 2.490 CummLosses 2.95% 4.07% 2.84% B2 BAA3/[BBB] 0.50 1.60 CDR 2.238 3.320 2.154 CummLosses 2.56% 3.71% 2.47% -- -- -- OC 1.60 1.60 -- -- --
EX-99.11 12 x14945exv99w11.txt COMPUTATIONAL MATERIALS Exhibit 99.11 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement.
SCENARIO 1 2 SPEED PRICING 100% pricing 100% pricing RATES Forward Forward TRIGGERS Fail Fail CLEANUP CALL To Maturity To Maturity DEFAULT P&I ADVANCE 0% Advance 0% Advance DEFAULT SEVERITY 50% 60% DEFAULT RECOVERY LAG Months 12 months 12 months DEFAULT BALANCE Current Balance Current Balance CPR = CDR + CRR Capped at prepay CPR = CRR PSA standard CPR = CRR CPR = CRR INITIAL RATINGS BOND SUBORDINATION CLASS MOODYS/SP SIZE *INCLUDES OC TARGET =========================================================================================================== A AAA/Aaa 91.95 8.05 CDR CummLosses A1B3 AAA/Aaa 91.95 8.05 CDR 7.666 6.244 CummLosses 9.73% 9.80% A1B4 AAA/Aaa 91.95 8.05 CDR 7.675 6.251 CummLosses 9.74% 9.81% M1 AA2/[AA] 2.60 5.45 CDR CummLosses M2 A2/[AA] 2.05 3.40 CDR CummLosses B1 BAA2/[A] 1.30 2.10 CDR CummLosses B2 BAA3/[BBB] 0.50 1.60 CDR CummLosses - - OC 1.60 1.60 - -
EX-99.12 13 x14945exv99w12.txt COMPUTATIONAL MATERIALS Exhibit 99.12 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., [MERRILL LYNCH LOGO] SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8__FLOATER_PRICE_ESECLEND - CF - 1 - A3A1 - 100BP 100 PPC 100bp, LIBOR_1MO=100 *051028_1ML, LIBOR_6MO=100 *051028_6ML, LIBOR_1YR=100 *051028_12ML 100 PPC VECTOR 1
Accrued Period Date Principal Interest Cash Flow Balance Interest Total 141,194,000.00 21,283,734.06 162,477,734.06 21,283,734.06 0 15-Nov-05 0 0 0 141,194,000.00 0 1 25-Nov-05 2,758,186.41 164,647.89 2,922,834.30 138,435,813.59 164,647.89 2 25-Dec-05 2,734,681.88 610,155.85 3,344,837.73 135,701,131.71 610,155.85 3 25-Jan-06 2,710,564.82 641,527.10 3,352,091.92 132,990,566.89 641,527.10 4 25-Feb-06 2,686,659.36 645,432.77 3,332,092.13 130,303,907.54 645,432.77 5 25-Mar-06 2,662,963.62 580,315.69 3,243,279.31 127,640,943.91 580,315.69 6 25-Apr-06 2,639,475.78 637,055.95 3,276,531.74 125,001,468.13 637,055.95 7 25-May-06 2,616,194.03 608,965.49 3,225,159.51 122,385,274.10 608,965.49 8 25-Jun-06 2,593,116.54 619,677.44 3,212,793.98 119,792,157.57 619,677.44 9 25-Jul-06 2,570,241.54 589,077.93 3,159,319.47 117,221,916.03 589,077.93 10 25-Aug-06 2,547,567.25 597,066.57 3,144,633.82 114,674,348.78 597,066.57 11 25-Sep-06 2,525,091.92 584,880.59 3,109,972.51 112,149,256.86 584,880.59 12 25-Oct-06 2,502,813.80 554,204.24 3,057,018.04 109,646,443.06 554,204.24 13 25-Nov-06 2,480,731.16 559,991.80 3,040,722.96 107,165,711.90 559,991.80 14 25-Dec-06 2,458,842.30 529,577.23 2,988,419.53 104,706,869.60 529,577.23 15 25-Jan-07 2,437,145.52 534,313.34 2,971,458.86 102,269,724.08 534,313.34 16 25-Feb-07 2,415,639.14 521,260.26 2,936,899.40 99,854,084.94 521,260.26 17 25-Mar-07 2,394,321.48 458,918.28 2,853,239.76 97,459,763.46 458,918.28 18 25-Apr-07 2,373,190.90 495,233.67 2,868,424.57 95,086,572.56 495,233.67 19 25-May-07 2,352,245.76 467,588.22 2,819,833.98 92,734,326.79 467,588.22 20 25-Jun-07 2,331,484.44 470,822.48 2,802,306.92 90,402,842.35 470,822.48 21 25-Jul-07 2,310,905.32 443,425.94 2,754,331.26 88,091,937.03 443,425.94 22 25-Aug-07 2,289,380.59 446,266.41 2,735,647.00 85,802,556.45 446,266.41 23 25-Sep-07 2,269,077.61 435,038.03 2,704,115.64 83,533,478.83 435,038.03 24 25-Oct-07 2,249,054.82 411,054.33 2,660,109.15 81,284,424.01 411,054.33 25 25-Nov-07 2,229,207.73 415,279.86 2,644,487.59 79,055,216.29 415,279.86 26 25-Dec-07 2,209,534.80 392,509.15 2,602,043.95 76,845,681.49 392,509.15 27 25-Jan-08 2,190,034.51 395,447.88 2,585,482.38 74,655,646.98 395,447.88 28 25-Feb-08 2,170,694.74 384,692.25 2,555,386.99 72,484,952.24 384,692.25 29 25-Mar-08 2,151,535.63 349,234.51 2,500,770.14 70,333,416.61 349,234.51 30 25-Apr-08 2,132,544.39 361,330.11 2,493,874.51 68,200,872.22 361,330.11 31 25-May-08 2,113,719.83 337,594.32 2,451,314.15 66,087,152.39 337,594.32 32 25-Jun-08 2,095,060.47 336,726.89 2,431,787.37 63,992,091.92 336,726.89 33 25-Jul-08 2,076,564.88 314,894.42 2,391,459.30 61,915,527.03 314,894.42 34 25-Aug-08 2,055,352.65 314,778.54 2,370,131.19 59,860,174.38 314,778.54 35 25-Sep-08 2,036,737.36 304,947.68 2,341,685.05 57,823,437.01 304,947.68 36 25-Oct-08 2,018,778.40 286,418.76 2,305,197.16 55,804,658.62 286,418.76 37 25-Nov-08 2,000,976.95 287,603.26 2,288,580.21 53,803,681.66 287,603.26 38 25-Dec-08 1,983,331.65 270,139.32 2,253,470.97 51,820,350.01 270,139.32 39 25-Jan-09 1,965,841.13 270,148.12 2,235,989.25 49,854,508.88 270,148.12 40 25-Feb-09 1,947,480.97 260,586.75 2,208,067.72 47,907,027.91 260,586.75 41 25-Mar-09 1,930,304.93 226,248.92 2,156,553.85 45,976,722.98 226,248.92 42 25-Apr-09 1,913,286.68 239,842.68 2,153,129.36 44,063,436.30 239,842.68 43 25-May-09 1,896,417.69 221,455.49 2,117,873.18 42,167,018.61 221,455.49 44 25-Jun-09 1,879,696.65 218,153.41 2,097,850.07 40,287,321.95 218,153.41 45 25-Jul-09 1,863,122.28 201,335.89 2,064,458.17 38,424,199.68 201,335.89 46 25-Aug-09 1,846,636.54 198,458.86 2,045,095.40 36,577,563.14 198,458.86 47 25-Sep-09 1,830,334.84 189,393.54 2,019,728.38 34,747,228.30 189,393.54 48 25-Oct-09 1,814,193.89 175,010.21 1,989,204.10 32,933,034.41 175,010.21 49 25-Nov-09 1,798,194.52 172,649.60 1,970,844.12 31,134,839.89 172,649.60 50 25-Dec-09 1,782,335.48 159,021.19 1,941,356.68 29,352,504.41 159,021.19 51 25-Jan-10 1,766,615.56 155,622.90 1,922,238.46 27,585,888.84 155,622.90 52 25-Feb-10 1,750,933.99 146,612.87 1,897,546.86 25,834,954.85 146,612.87 53 25-Mar-10 1,735,486.30 124,019.27 1,859,505.57 24,099,468.55 124,019.27 54 25-Apr-10 1,720,178.00 127,751.28 1,847,929.28 22,379,290.55 127,751.28 55 25-May-10 1,705,003.98 114,246.28 1,819,250.26 20,674,286.57 114,246.28 56 25-Jun-10 1,689,751.75 108,561.83 1,798,313.57 18,984,534.83 108,561.83 57 25-Jul-10 1,674,846.60 96,204.13 1,771,050.73 17,309,688.23 96,204.13 58 25-Aug-10 1,687,122.27 90,566.21 1,777,688.48 15,622,565.96 90,566.21 59 25-Sep-10 1,672,189.34 81,833.17 1,754,022.51 13,950,376.63 81,833.17 60 25-Oct-10 1,657,392.96 70,949.29 1,728,342.25 12,292,983.67 70,949.29 61 25-Nov-10 1,642,726.43 64,953.39 1,707,679.83 10,650,257.24 64,953.39 62 25-Dec-10 1,628,188.63 54,706.82 1,682,895.45 9,022,068.61 54,706.82 63 25-Jan-11 1,613,778.43 48,027.98 1,661,806.41 7,408,290.18 48,027.98 64 25-Feb-11 1,595,737.79 39,469.11 1,635,206.90 5,812,552.39 39,469.11 65 25-Mar-11 1,581,643.79 27,939.00 1,609,582.79 4,230,908.60 27,939.00 66 25-Apr-11 1,567,669.16 22,442.62 1,590,111.78 2,663,239.44 22,442.62 67 25-May-11 1,553,817.10 13,600.28 1,567,417.37 1,109,422.34 13,600.28 68 25-Jun-11 1,109,422.34 5,828.50 1,115,250.85 0 5,828.50
Capped Optimal Effective Couponcap Credit Period Interest Coupon Coupon Rate Support LIBOR_1MO Total 21,283,734.06 0 0 0 0 0 0 0 1 164,647.89 4.198 4.198 18.1598 8.13 4.088 2 610,155.85 5.289 5.289 6.1538 8.2 5.179 3 641,527.10 5.49 5.49 6.0434 8.28 5.38 4 645,432.77 5.636 5.636 6.1059 8.36 5.526 5 580,315.69 5.726 5.726 6.766 8.44 5.616 6 637,055.95 5.796 5.796 6.1154 8.52 5.686 7 608,965.49 5.846 5.846 6.3223 8.6 5.736 8 619,677.44 5.88 5.88 6.1205 8.68 5.77 9 589,077.93 5.901 5.901 6.333 8.76 5.791 10 597,066.57 5.915 5.915 6.1327 8.84 5.805 11 584,880.59 5.923 5.923 6.1333 8.93 5.813 12 554,204.24 5.93 5.93 6.3383 9.01 5.82 13 559,991.80 5.931 5.931 6.134 9.09 5.821 14 529,577.23 5.93 5.93 6.3385 9.18 5.82 15 534,313.34 5.926 5.926 6.1334 9.27 5.816 16 521,260.26 5.919 5.919 6.1325 9.36 5.809 17 458,918.28 5.909 5.909 6.789 9.44 5.799 18 495,233.67 5.901 5.901 6.1317 9.53 5.791 19 467,588.22 5.901 5.901 6.3362 9.62 5.791 20 470,822.48 5.896 5.896 6.1316 9.72 5.786 21 443,425.94 5.886 5.886 6.337 9.81 5.776 22 446,266.41 5.883 5.883 6.2057 9.9 5.773 23 435,038.03 5.888 5.888 6.3128 9.99 5.778 24 411,054.33 5.905 5.905 6.5244 10.09 5.795 25 415,279.86 5.933 5.933 6.3157 10.18 5.823 26 392,509.15 5.958 5.958 6.5279 10.28 5.848 27 395,447.88 5.976 5.976 6.3204 10.38 5.866 28 384,692.25 5.984 5.984 6.3224 10.48 5.874 29 349,234.51 5.981 5.981 6.761 10.58 5.871 30 361,330.11 5.966 5.966 6.3241 10.68 5.856 31 337,594.32 5.94 5.94 6.5335 10.78 5.83 32 336,726.89 5.917 5.917 6.3215 10.88 5.807 33 314,894.42 5.905 5.905 6.5311 10.99 5.795 34 314,778.54 5.904 5.904 7.0708 11.09 5.794 35 304,947.68 5.916 5.916 7.0943 11.2 5.806 36 286,418.76 5.944 5.944 7.3327 11.3 5.834 37 287,603.26 5.985 5.985 7.0988 11.41 5.875 38 270,139.32 6.025 6.025 7.338 11.52 5.915 39 270,148.12 6.054 6.054 7.107 11.63 5.944 40 260,586.75 6.07 6.07 7.2588 11.74 5.96 41 226,248.92 6.072 6.072 8.0389 11.85 5.962 42 239,842.68 6.058 6.058 7.2603 11.96 5.948 43 221,455.49 6.031 6.031 7.501 12.08 5.921 44 218,153.41 6.008 6.008 7.2579 12.19 5.898 45 201,335.89 5.997 5.997 7.4993 12.31 5.887 46 198,458.86 5.998 5.998 7.2732 12.43 5.888 47 189,393.54 6.013 6.013 7.279 12.55 5.903 48 175,010.21 6.044 6.044 7.5238 12.67 5.934 49 172,649.60 6.088 6.088 7.2839 12.79 5.978 50 159,021.19 6.129 6.129 7.5294 12.91 6.019 51 155,622.90 6.157 6.157 7.2922 13.03 6.047 52 146,612.87 6.172 6.172 7.3233 13.16 6.062 53 124,019.27 6.172 6.172 8.1094 13.29 6.062 54 127,751.28 6.156 6.156 7.3239 13.41 6.046 55 114,246.28 6.126 6.126 7.5665 13.54 6.016 56 108,561.83 6.098 6.098 7.3259 13.67 5.988 57 96,204.13 6.081 6.081 7.5725 13.8 5.971 58 90,566.21 6.076 6.076 7.6639 13.94 5.966 59 81,833.17 6.083 6.083 7.7452 14.07 5.973 60 70,949.29 6.103 6.103 8.005 14.21 5.993 61 64,953.39 6.136 6.136 7.7491 14.35 6.026 62 54,706.82 6.164 6.164 8.0094 14.49 6.054 63 48,027.98 6.182 6.182 7.7544 14.63 6.072 64 39,469.11 6.187 6.187 7.8841 14.78 6.077 65 27,939.00 6.18 6.18 8.7265 14.92 6.07 66 22,442.62 6.16 6.16 7.8811 15.07 6.05 67 13,600.28 6.128 6.128 8.1422 15.21 6.018 68 5,828.50 6.101 6.101 7.883 100 5.991
MLMI05_A8__FLOATER_PRICE_ESECLEND - CF - 2 - A3A1 - 200BP 100 PPC 200bp, LIBOR_1MO=100 *051028_1ML, LIBOR_6MO=100 *051028_6ML, LIBOR_1YR=100 *051028_12ML 100 PPC VECTOR 1
Accrued Couponcap Period Date Principal Interest Cash Flow Balance Interest Shortfall Total 141,194,000.00 24,886,515.00 166,080,515.00 24,872,449.24 1,149,769.82 0 15-Nov-05 0 0 0 141,194,000.00 0 0 1 25-Nov-05 2,758,186.41 164,647.89 2,922,834.30 138,435,813.59 164,647.89 0 2 25-Dec-05 2,734,681.88 724,619.65 3,459,301.53 135,701,131.71 725,519.03 8,695.69 3 25-Jan-06 2,710,564.82 751,815.69 3,462,380.52 132,990,566.89 758,380.85 41,334.48 4 25-Feb-06 2,686,659.36 751,500.29 3,438,159.65 130,303,907.54 759,952.43 47,321.30 5 25-Mar-06 2,662,963.62 697,711.08 3,360,674.70 127,640,943.91 681,663.17 0 6 25-Apr-06 2,639,475.78 736,645.06 3,376,120.85 125,001,468.13 746,968.99 61,959.00 7 25-May-06 2,616,194.03 706,460.60 3,322,654.62 122,385,274.10 713,133.38 41,963.82 8 25-Jun-06 2,593,116.54 716,362.41 3,309,478.95 119,792,157.57 725,064.76 67,721.85 9 25-Jul-06 2,570,241.54 685,484.93 3,255,726.47 117,221,916.03 688,904.73 44,640.33 10 25-Aug-06 2,547,567.25 689,183.91 3,236,751.16 114,674,348.78 698,007.67 67,154.79 11 25-Sep-06 2,525,091.92 675,063.56 3,200,155.47 112,149,256.86 683,627.94 66,427.08 12 25-Oct-06 2,502,813.80 644,293.29 3,147,107.08 109,646,443.06 647,661.96 44,000.24 13 25-Nov-06 2,480,731.16 644,896.45 3,125,627.61 107,165,711.90 654,409.57 64,202.17 14 25-Dec-06 2,458,842.30 615,482.08 3,074,324.39 104,706,869.60 618,881.99 42,021.50 15 25-Jan-07 2,437,145.52 614,475.20 3,051,620.72 102,269,724.08 624,477.59 60,906.35 16 25-Feb-07 2,415,639.14 599,558.20 3,015,197.34 99,854,084.94 609,325.86 58,947.45 17 25-Mar-07 2,394,321.48 557,299.02 2,951,620.50 97,459,763.46 536,582.57 0 18 25-Apr-07 2,373,190.90 566,928.24 2,940,119.15 95,086,572.56 579,157.35 54,730.37 19 25-May-07 2,352,245.76 542,229.71 2,894,475.48 92,734,326.79 546,827.03 35,159.39 20 25-Jun-07 2,331,484.44 539,222.26 2,870,706.70 90,402,842.35 550,677.04 51,679.72 21 25-Jul-07 2,310,905.32 515,188.51 2,826,093.84 88,091,937.03 518,761.64 32,165.85 22 25-Aug-07 2,289,073.78 514,931.52 2,804,005.30 85,802,863.26 522,123.36 40,795.48 23 25-Sep-07 2,268,725.12 506,793.58 2,775,518.70 83,534,138.14 508,925.38 28,760.32 24 25-Oct-07 2,248,707.40 485,379.80 2,734,087.20 81,285,430.74 480,669.35 13,117.71 25 25-Nov-07 2,228,865.34 481,084.05 2,709,949.39 79,056,565.39 485,280.80 30,190.11 26 25-Dec-07 2,209,197.40 461,156.23 2,670,353.63 76,847,368.00 458,396.32 15,674.19 27 25-Jan-08 2,189,702.04 456,022.55 2,645,724.59 74,657,665.95 461,630.68 31,074.01 28 25-Feb-08 2,170,289.12 443,167.88 2,613,457.00 72,487,376.83 448,991.20 29,928.53 29 25-Mar-08 2,151,135.90 422,480.67 2,573,616.56 70,336,240.94 407,638.80 213.34 30 25-Apr-08 2,132,150.53 414,927.31 2,547,077.83 68,204,090.41 421,911.94 26,619.81 31 25-May-08 2,113,331.77 397,105.99 2,510,437.76 66,090,758.64 394,446.99 11,216.52 32 25-Jun-08 2,094,678.17 388,511.70 2,483,189.88 63,996,080.47 393,656.75 22,367.32 33 25-Jul-08 2,076,188.28 372,556.17 2,448,744.46 61,919,892.18 368,244.11 8,781.09 34 25-Aug-08 2,054,184.49 405,229.42 2,459,413.91 59,865,707.69 368,120.64 0 35 25-Sep-08 2,035,399.04 392,399.62 2,427,798.66 57,830,308.66 356,526.90 0 36 25-Oct-08 2,017,459.68 375,275.04 2,392,734.73 55,812,848.97 334,644.72 0 37 25-Nov-08 1,999,677.66 337,524.09 2,337,201.75 53,813,171.31 335,706.53 0 38 25-Dec-08 1,982,051.60 315,031.27 2,297,082.87 51,831,119.72 315,031.27 0 39 25-Jan-09 1,964,580.12 314,836.62 2,279,416.74 49,866,539.59 314,836.62 0 40 25-Feb-09 1,946,128.65 303,590.26 2,249,718.91 47,920,410.95 303,590.26 0 41 25-Mar-09 1,928,973.86 263,583.56 2,192,557.42 45,991,437.08 263,583.56 0 42 25-Apr-09 1,911,975.64 279,523.18 2,191,498.82 44,079,461.45 279,523.18 0 43 25-May-09 1,895,126.48 258,268.91 2,153,395.39 42,184,334.97 258,268.91 0 44 25-Jun-09 1,878,425.08 254,568.40 2,132,993.48 40,305,909.88 254,568.40 0 45 25-Jul-09 1,861,870.16 235,017.04 2,096,887.20 38,444,039.73 235,017.04 0 46 25-Aug-09 1,845,104.72 231,665.92 2,076,770.64 36,598,935.01 231,665.92 0 47 25-Sep-09 1,828,828.84 221,019.95 2,049,848.80 34,770,106.17 221,019.95 0 48 25-Oct-09 1,812,710.97 204,100.52 2,016,811.50 32,957,395.19 204,100.52 0 49 25-Nov-09 1,796,734.46 201,157.29 1,997,891.75 31,160,660.73 201,157.29 0 50 25-Dec-09 1,780,898.07 185,120.29 1,966,018.36 29,379,762.67 185,120.29 0 51 25-Jan-10 1,765,200.57 181,066.66 1,946,267.23 27,614,562.10 181,066.66 0 52 25-Feb-10 1,749,554.75 170,544.47 1,920,099.22 25,865,007.35 170,544.47 0 53 25-Mar-10 1,734,129.29 144,280.76 1,878,410.05 24,130,878.06 144,280.76 0 54 25-Apr-10 1,718,842.48 148,697.15 1,867,539.63 22,412,035.58 148,697.15 0 55 25-May-10 1,703,689.74 133,090.14 1,836,779.88 20,708,345.84 133,090.14 0 56 25-Jun-10 1,688,458.58 126,572.86 1,815,031.45 19,019,887.26 126,572.86 0 57 25-Jul-10 1,673,574.31 112,233.18 1,785,807.49 17,346,312.95 112,233.18 0 58 25-Aug-10 1,683,564.90 105,694.94 1,789,259.84 15,662,748.05 105,694.94 0 59 25-Sep-10 1,668,687.12 95,531.02 1,764,218.14 13,994,060.93 95,531.02 0 60 25-Oct-10 1,653,944.64 82,833.18 1,736,777.82 12,340,116.29 82,833.18 0 61 25-Nov-10 1,639,331.50 75,828.64 1,715,160.14 10,700,784.79 75,828.64 0 62 25-Dec-10 1,624,846.57 63,883.69 1,688,730.25 9,075,938.22 63,883.69 0 63 25-Jan-11 1,610,488.73 56,130.14 1,666,618.87 7,465,449.49 56,130.14 0 64 25-Feb-11 1,590,352.82 46,202.22 1,636,555.04 5,875,096.67 46,202.22 0 65 25-Mar-11 1,576,341.43 32,809.15 1,609,150.58 4,298,755.24 32,809.15 0 66 25-Apr-11 1,562,449.16 26,504.21 1,588,953.38 2,736,306.07 26,504.21 0 67 25-May-11 1,548,678.67 16,253.66 1,564,932.33 1,187,627.40 16,253.66 0 68 25-Jun-11 1,187,627.40 7,262.04 1,194,889.45 0 7,262.04 0
Couponcap Couponcap Capped Accum Shortfall Optimal Effective Couponcap Credit Period Shortfall Payback Interest Coupon Coupon Rate Support LIBOR_1MO Total 1,163,835.57 23,722,679.43 0 0 0 0 0 0 0 0 0 1 0 0 164,647.89 4.198 4.198 18.1598 8.13 4.088 2 899.38 7,796.31 716,823.33 6.289 6.2812 6.2136 8.2 6.179 3 7,469.57 34,769.32 717,046.37 6.49 6.4338 6.1363 8.28 6.38 4 15,964.39 38,869.16 712,631.13 6.636 6.5622 6.2228 8.36 6.526 5 0 16,047.90 681,663.17 6.726 6.8843 6.8954 8.44 6.616 6 10,323.92 51,635.08 685,009.98 6.796 6.7021 6.2323 8.52 6.686 7 17,055.60 35,291.04 671,169.56 6.846 6.7819 6.4432 8.6 6.736 8 25,858.99 59,019.50 657,342.91 6.88 6.7974 6.2374 8.68 6.77 9 29,427.51 41,220.53 644,264.40 6.901 6.8667 6.4538 8.76 6.791 10 38,426.49 58,331.03 630,852.88 6.915 6.8276 6.2497 8.84 6.805 11 47,219.96 57,862.69 617,200.86 6.923 6.8363 6.2503 8.93 6.813 12 50,861.32 40,631.57 603,661.72 6.93 6.894 6.4592 9.01 6.82 13 60,678.00 54,689.05 590,207.39 6.931 6.8302 6.251 9.09 6.821 14 64,428.32 38,621.60 576,860.49 6.93 6.8919 6.4595 9.18 6.82 15 74,814.96 50,903.96 563,571.24 6.926 6.8151 6.2505 9.27 6.816 16 85,028.36 49,179.79 550,378.41 6.919 6.8081 6.2496 9.36 6.809 17 64,768.83 20,716.45 536,582.57 6.909 7.1757 6.9187 9.44 6.799 18 77,382.82 42,501.26 524,426.98 6.901 6.7553 6.2489 9.53 6.791 19 82,425.16 30,562.07 511,667.64 6.901 6.843 6.4573 9.62 6.791 20 94,369.39 40,224.94 498,997.32 6.896 6.7526 6.2488 9.72 6.786 21 98,484.04 28,592.72 486,595.79 6.886 6.8386 6.459 9.81 6.776 22 106,259.60 33,603.65 481,327.87 6.883 6.7882 6.3452 9.9 6.773 23 109,021.66 26,628.52 480,165.06 6.888 6.8591 6.4987 9.99 6.778 24 104,938.55 17,828.15 467,551.64 6.905 6.9727 6.7166 10.09 6.795 25 109,761.79 25,993.36 455,090.69 6.933 6.873 6.5017 10.18 6.823 26 107,638.32 18,434.10 442,722.13 6.958 6.9999 6.7201 10.28 6.848 27 113,893.04 25,465.88 430,556.66 6.976 6.8913 6.5064 10.38 6.866 28 120,401.32 24,105.21 419,062.67 6.984 6.8934 6.5185 10.48 6.874 29 106,236.54 15,055.20 407,425.46 6.981 7.2352 6.9773 10.58 6.871 30 113,858.43 19,635.18 395,292.13 6.966 6.8507 6.5265 10.68 6.856 31 111,857.92 13,875.52 383,230.47 6.94 6.9868 6.7427 10.78 6.83 32 117,669.22 17,222.27 371,289.43 6.917 6.8266 6.524 10.88 6.807 33 114,034.25 13,093.15 359,463.03 6.905 6.9859 6.7403 10.99 6.795 34 77,603.42 37,108.78 368,120.64 6.904 7.6 7.6017 11.09 6.794 35 42,192.85 35,872.73 356,526.90 6.916 7.6119 7.6342 11.2 6.806 36 1,806.69 40,630.32 334,644.72 6.944 7.7871 7.8906 11.3 6.834 37 0 1,817.55 335,706.53 6.985 7.0228 7.6388 11.41 6.875 38 0 0 315,031.27 7.025 7.025 7.8962 11.52 6.915 39 0 0 314,836.62 7.054 7.054 7.6472 11.63 6.944 40 0 0 303,590.26 7.07 7.07 7.8421 11.74 6.96 41 0 0 263,583.56 7.072 7.072 8.6848 11.85 6.962 42 0 0 279,523.18 7.058 7.058 7.8439 11.96 6.948 43 0 0 258,268.91 7.031 7.031 8.1041 12.08 6.921 44 0 0 254,568.40 7.008 7.008 7.8416 12.19 6.898 45 0 0 235,017.04 6.997 6.997 8.1026 12.31 6.887 46 0 0 231,665.92 6.998 6.998 7.8975 12.43 6.888 47 0 0 221,019.95 7.013 7.013 7.9034 12.55 6.903 48 0 0 204,100.52 7.044 7.044 8.169 12.67 6.934 49 0 0 201,157.29 7.088 7.088 7.9084 12.79 6.978 50 0 0 185,120.29 7.129 7.129 8.1749 12.91 7.019 51 0 0 181,066.66 7.157 7.157 7.9169 13.03 7.047 52 0 0 170,544.47 7.172 7.172 7.9481 13.16 7.062 53 0 0 144,280.76 7.172 7.172 8.8013 13.28 7.062 54 0 0 148,697.15 7.156 7.156 7.949 13.41 7.046 55 0 0 133,090.14 7.126 7.126 8.2125 13.54 7.016 56 0 0 126,572.86 7.098 7.098 7.9512 13.67 6.988 57 0 0 112,233.18 7.081 7.081 8.2208 13.8 6.971 58 0 0 105,694.94 7.076 7.076 8.3963 13.93 6.966 59 0 0 95,531.02 7.083 7.083 8.5118 14.07 6.973 60 0 0 82,833.18 7.103 7.103 8.7973 14.21 6.993 61 0 0 75,828.64 7.136 7.136 8.516 14.35 7.026 62 0 0 63,883.69 7.164 7.164 8.8021 14.49 7.054 63 0 0 56,130.14 7.182 7.182 8.5217 14.63 7.072 64 0 0 46,202.22 7.187 7.187 8.734 14.77 7.077 65 0 0 32,809.15 7.18 7.18 9.6677 14.91 7.07 66 0 0 26,504.21 7.16 7.16 8.7313 15.06 7.05 67 0 0 16,253.66 7.128 7.128 9.0208 15.21 7.018 68 0 0 7,262.04 7.101 7.101 8.7359 100 6.991
MLMI05_A8__FLOATER_PRICE_ESECLEND - CF - 1 - A3A1 - 100BP 100 PPC 100bp, LIBOR_1MO=100 *051028_1ML, LIBOR_6MO=100 *051028_6ML, LIBOR_1YR=100 *051028_12ML 100 PPC VECTOR 1
Accrued Period Date Principal Interest Cash Flow Balance Interest Total 141,194,000.00 21,283,734.06 162,477,734.06 21,283,734.06 0 15-Nov-05 0 0 0 141,194,000.00 0 1 25-Nov-05 2,758,186.41 164,647.89 2,922,834.30 138,435,813.59 164,647.89 2 25-Dec-05 2,734,681.88 610,155.85 3,344,837.73 135,701,131.71 610,155.85 3 25-Jan-06 2,710,564.82 641,527.10 3,352,091.92 132,990,566.89 641,527.10 4 25-Feb-06 2,686,659.36 645,432.77 3,332,092.13 130,303,907.54 645,432.77 5 25-Mar-06 2,662,963.62 580,315.69 3,243,279.31 127,640,943.91 580,315.69 6 25-Apr-06 2,639,475.78 637,055.95 3,276,531.74 125,001,468.13 637,055.95 7 25-May-06 2,616,194.03 608,965.49 3,225,159.51 122,385,274.10 608,965.49 8 25-Jun-06 2,593,116.54 619,677.44 3,212,793.98 119,792,157.57 619,677.44 9 25-Jul-06 2,570,241.54 589,077.93 3,159,319.47 117,221,916.03 589,077.93 10 25-Aug-06 2,547,567.25 597,066.57 3,144,633.82 114,674,348.78 597,066.57 11 25-Sep-06 2,525,091.92 584,880.59 3,109,972.51 112,149,256.86 584,880.59 12 25-Oct-06 2,502,813.80 554,204.24 3,057,018.04 109,646,443.06 554,204.24 13 25-Nov-06 2,480,731.16 559,991.80 3,040,722.96 107,165,711.90 559,991.80 14 25-Dec-06 2,458,842.30 529,577.23 2,988,419.53 104,706,869.60 529,577.23 15 25-Jan-07 2,437,145.52 534,313.34 2,971,458.86 102,269,724.08 534,313.34 16 25-Feb-07 2,415,639.14 521,260.26 2,936,899.40 99,854,084.94 521,260.26 17 25-Mar-07 2,394,321.48 458,918.28 2,853,239.76 97,459,763.46 458,918.28 18 25-Apr-07 2,373,190.90 495,233.67 2,868,424.57 95,086,572.56 495,233.67 19 25-May-07 2,352,245.76 467,588.22 2,819,833.98 92,734,326.79 467,588.22 20 25-Jun-07 2,331,484.44 470,822.48 2,802,306.92 90,402,842.35 470,822.48 21 25-Jul-07 2,310,905.32 443,425.94 2,754,331.26 88,091,937.03 443,425.94 22 25-Aug-07 2,289,380.59 446,266.41 2,735,647.00 85,802,556.45 446,266.41 23 25-Sep-07 2,269,077.61 435,038.03 2,704,115.64 83,533,478.83 435,038.03 24 25-Oct-07 2,249,054.82 411,054.33 2,660,109.15 81,284,424.01 411,054.33 25 25-Nov-07 2,229,207.73 415,279.86 2,644,487.59 79,055,216.29 415,279.86 26 25-Dec-07 2,209,534.80 392,509.15 2,602,043.95 76,845,681.49 392,509.15 27 25-Jan-08 2,190,034.51 395,447.88 2,585,482.38 74,655,646.98 395,447.88 28 25-Feb-08 2,170,694.74 384,692.25 2,555,386.99 72,484,952.24 384,692.25 29 25-Mar-08 2,151,535.63 349,234.51 2,500,770.14 70,333,416.61 349,234.51 30 25-Apr-08 2,132,544.39 361,330.11 2,493,874.51 68,200,872.22 361,330.11 31 25-May-08 2,113,719.83 337,594.32 2,451,314.15 66,087,152.39 337,594.32 32 25-Jun-08 2,095,060.47 336,726.89 2,431,787.37 63,992,091.92 336,726.89 33 25-Jul-08 2,076,564.88 314,894.42 2,391,459.30 61,915,527.03 314,894.42 34 25-Aug-08 2,055,352.65 314,778.54 2,370,131.19 59,860,174.38 314,778.54 35 25-Sep-08 2,036,737.36 304,947.68 2,341,685.05 57,823,437.01 304,947.68 36 25-Oct-08 2,018,778.40 286,418.76 2,305,197.16 55,804,658.62 286,418.76 37 25-Nov-08 2,000,976.95 287,603.26 2,288,580.21 53,803,681.66 287,603.26 38 25-Dec-08 1,983,331.65 270,139.32 2,253,470.97 51,820,350.01 270,139.32 39 25-Jan-09 1,965,841.13 270,148.12 2,235,989.25 49,854,508.88 270,148.12 40 25-Feb-09 1,947,480.97 260,586.75 2,208,067.72 47,907,027.91 260,586.75 41 25-Mar-09 1,930,304.93 226,248.92 2,156,553.85 45,976,722.98 226,248.92 42 25-Apr-09 1,913,286.68 239,842.68 2,153,129.36 44,063,436.30 239,842.68 43 25-May-09 1,896,417.69 221,455.49 2,117,873.18 42,167,018.61 221,455.49 44 25-Jun-09 1,879,696.65 218,153.41 2,097,850.07 40,287,321.95 218,153.41 45 25-Jul-09 1,863,122.28 201,335.89 2,064,458.17 38,424,199.68 201,335.89 46 25-Aug-09 1,846,636.54 198,458.86 2,045,095.40 36,577,563.14 198,458.86 47 25-Sep-09 1,830,334.84 189,393.54 2,019,728.38 34,747,228.30 189,393.54 48 25-Oct-09 1,814,193.89 175,010.21 1,989,204.10 32,933,034.41 175,010.21 49 25-Nov-09 1,798,194.52 172,649.60 1,970,844.12 31,134,839.89 172,649.60 50 25-Dec-09 1,782,335.48 159,021.19 1,941,356.68 29,352,504.41 159,021.19 51 25-Jan-10 1,766,615.56 155,622.90 1,922,238.46 27,585,888.84 155,622.90 52 25-Feb-10 1,750,933.99 146,612.87 1,897,546.86 25,834,954.85 146,612.87 53 25-Mar-10 1,735,486.30 124,019.27 1,859,505.57 24,099,468.55 124,019.27 54 25-Apr-10 1,720,178.00 127,751.28 1,847,929.28 22,379,290.55 127,751.28 55 25-May-10 1,705,003.98 114,246.28 1,819,250.26 20,674,286.57 114,246.28 56 25-Jun-10 1,689,751.75 108,561.83 1,798,313.57 18,984,534.83 108,561.83 57 25-Jul-10 1,674,846.60 96,204.13 1,771,050.73 17,309,688.23 96,204.13 58 25-Aug-10 1,687,122.27 90,566.21 1,777,688.48 15,622,565.96 90,566.21 59 25-Sep-10 1,672,189.34 81,833.17 1,754,022.51 13,950,376.63 81,833.17 60 25-Oct-10 1,657,392.96 70,949.29 1,728,342.25 12,292,983.67 70,949.29 61 25-Nov-10 1,642,726.43 64,953.39 1,707,679.83 10,650,257.24 64,953.39 62 25-Dec-10 1,628,188.63 54,706.82 1,682,895.45 9,022,068.61 54,706.82 63 25-Jan-11 1,613,778.43 48,027.98 1,661,806.41 7,408,290.18 48,027.98 64 25-Feb-11 1,595,737.79 39,469.11 1,635,206.90 5,812,552.39 39,469.11 65 25-Mar-11 1,581,643.79 27,939.00 1,609,582.79 4,230,908.60 27,939.00 66 25-Apr-11 1,567,669.16 22,442.62 1,590,111.78 2,663,239.44 22,442.62 67 25-May-11 1,553,817.10 13,600.28 1,567,417.37 1,109,422.34 13,600.28 68 25-Jun-11 1,109,422.34 5,828.50 1,115,250.85 0 5,828.50
Capped Optimal Effective Couponcap Credit Period Interest Coupon Coupon Rate Support LIBOR_1MO Total 21,283,734.06 0 0 0 0 0 0 0 1 164,647.89 4.198 4.198 18.1598 8.13 4.088 2 610,155.85 5.289 5.289 6.1538 8.2 5.179 3 641,527.10 5.49 5.49 6.0434 8.28 5.38 4 645,432.77 5.636 5.636 6.1059 8.36 5.526 5 580,315.69 5.726 5.726 6.766 8.44 5.616 6 637,055.95 5.796 5.796 6.1154 8.52 5.686 7 608,965.49 5.846 5.846 6.3223 8.6 5.736 8 619,677.44 5.88 5.88 6.1205 8.68 5.77 9 589,077.93 5.901 5.901 6.333 8.76 5.791 10 597,066.57 5.915 5.915 6.1327 8.84 5.805 11 584,880.59 5.923 5.923 6.1333 8.93 5.813 12 554,204.24 5.93 5.93 6.3383 9.01 5.82 13 559,991.80 5.931 5.931 6.134 9.09 5.821 14 529,577.23 5.93 5.93 6.3385 9.18 5.82 15 534,313.34 5.926 5.926 6.1334 9.27 5.816 16 521,260.26 5.919 5.919 6.1325 9.36 5.809 17 458,918.28 5.909 5.909 6.789 9.44 5.799 18 495,233.67 5.901 5.901 6.1317 9.53 5.791 19 467,588.22 5.901 5.901 6.3362 9.62 5.791 20 470,822.48 5.896 5.896 6.1316 9.72 5.786 21 443,425.94 5.886 5.886 6.337 9.81 5.776 22 446,266.41 5.883 5.883 6.2057 9.9 5.773 23 435,038.03 5.888 5.888 6.3128 9.99 5.778 24 411,054.33 5.905 5.905 6.5244 10.09 5.795 25 415,279.86 5.933 5.933 6.3157 10.18 5.823 26 392,509.15 5.958 5.958 6.5279 10.28 5.848 27 395,447.88 5.976 5.976 6.3204 10.38 5.866 28 384,692.25 5.984 5.984 6.3224 10.48 5.874 29 349,234.51 5.981 5.981 6.761 10.58 5.871 30 361,330.11 5.966 5.966 6.3241 10.68 5.856 31 337,594.32 5.94 5.94 6.5335 10.78 5.83 32 336,726.89 5.917 5.917 6.3215 10.88 5.807 33 314,894.42 5.905 5.905 6.5311 10.99 5.795 34 314,778.54 5.904 5.904 7.0708 11.09 5.794 35 304,947.68 5.916 5.916 7.0943 11.2 5.806 36 286,418.76 5.944 5.944 7.3327 11.3 5.834 37 287,603.26 5.985 5.985 7.0988 11.41 5.875 38 270,139.32 6.025 6.025 7.338 11.52 5.915 39 270,148.12 6.054 6.054 7.107 11.63 5.944 40 260,586.75 6.07 6.07 7.2588 11.74 5.96 41 226,248.92 6.072 6.072 8.0389 11.85 5.962 42 239,842.68 6.058 6.058 7.2603 11.96 5.948 43 221,455.49 6.031 6.031 7.501 12.08 5.921 44 218,153.41 6.008 6.008 7.2579 12.19 5.898 45 201,335.89 5.997 5.997 7.4993 12.31 5.887 46 198,458.86 5.998 5.998 7.2732 12.43 5.888 47 189,393.54 6.013 6.013 7.279 12.55 5.903 48 175,010.21 6.044 6.044 7.5238 12.67 5.934 49 172,649.60 6.088 6.088 7.2839 12.79 5.978 50 159,021.19 6.129 6.129 7.5294 12.91 6.019 51 155,622.90 6.157 6.157 7.2922 13.03 6.047 52 146,612.87 6.172 6.172 7.3233 13.16 6.062 53 124,019.27 6.172 6.172 8.1094 13.29 6.062 54 127,751.28 6.156 6.156 7.3239 13.41 6.046 55 114,246.28 6.126 6.126 7.5665 13.54 6.016 56 108,561.83 6.098 6.098 7.3259 13.67 5.988 57 96,204.13 6.081 6.081 7.5725 13.8 5.971 58 90,566.21 6.076 6.076 7.6639 13.94 5.966 59 81,833.17 6.083 6.083 7.7452 14.07 5.973 60 70,949.29 6.103 6.103 8.005 14.21 5.993 61 64,953.39 6.136 6.136 7.7491 14.35 6.026 62 54,706.82 6.164 6.164 8.0094 14.49 6.054 63 48,027.98 6.182 6.182 7.7544 14.63 6.072 64 39,469.11 6.187 6.187 7.8841 14.78 6.077 65 27,939.00 6.18 6.18 8.7265 14.92 6.07 66 22,442.62 6.16 6.16 7.8811 15.07 6.05 67 13,600.28 6.128 6.128 8.1422 15.21 6.018 68 5,828.50 6.101 6.101 7.883 100 5.991
MLMI05_A8__FLOATER_PRICE_ESECLEND - CF - 2 - A3A1 - 200BP 100 PPC 200bp, LIBOR_1MO=100 *051028_1ML, LIBOR_6MO=100 *051028_6ML, LIBOR_1YR=100 *051028_12ML 100 PPC VECTOR 1
Accrued Couponcap Period Date Principal Interest Cash Flow Balance Interest Shortfall Total 141,194,000.00 24,886,515.00 166,080,515.00 24,872,449.24 1,149,769.82 0 15-Nov-05 0 0 0 141,194,000.00 0 0 1 25-Nov-05 2,758,186.41 164,647.89 2,922,834.30 138,435,813.59 164,647.89 0 2 25-Dec-05 2,734,681.88 724,619.65 3,459,301.53 135,701,131.71 725,519.03 8,695.69 3 25-Jan-06 2,710,564.82 751,815.69 3,462,380.52 132,990,566.89 758,380.85 41,334.48 4 25-Feb-06 2,686,659.36 751,500.29 3,438,159.65 130,303,907.54 759,952.43 47,321.30 5 25-Mar-06 2,662,963.62 697,711.08 3,360,674.70 127,640,943.91 681,663.17 0 6 25-Apr-06 2,639,475.78 736,645.06 3,376,120.85 125,001,468.13 746,968.99 61,959.00 7 25-May-06 2,616,194.03 706,460.60 3,322,654.62 122,385,274.10 713,133.38 41,963.82 8 25-Jun-06 2,593,116.54 716,362.41 3,309,478.95 119,792,157.57 725,064.76 67,721.85 9 25-Jul-06 2,570,241.54 685,484.93 3,255,726.47 117,221,916.03 688,904.73 44,640.33 10 25-Aug-06 2,547,567.25 689,183.91 3,236,751.16 114,674,348.78 698,007.67 67,154.79 11 25-Sep-06 2,525,091.92 675,063.56 3,200,155.47 112,149,256.86 683,627.94 66,427.08 12 25-Oct-06 2,502,813.80 644,293.29 3,147,107.08 109,646,443.06 647,661.96 44,000.24 13 25-Nov-06 2,480,731.16 644,896.45 3,125,627.61 107,165,711.90 654,409.57 64,202.17 14 25-Dec-06 2,458,842.30 615,482.08 3,074,324.39 104,706,869.60 618,881.99 42,021.50 15 25-Jan-07 2,437,145.52 614,475.20 3,051,620.72 102,269,724.08 624,477.59 60,906.35 16 25-Feb-07 2,415,639.14 599,558.20 3,015,197.34 99,854,084.94 609,325.86 58,947.45 17 25-Mar-07 2,394,321.48 557,299.02 2,951,620.50 97,459,763.46 536,582.57 0 18 25-Apr-07 2,373,190.90 566,928.24 2,940,119.15 95,086,572.56 579,157.35 54,730.37 19 25-May-07 2,352,245.76 542,229.71 2,894,475.48 92,734,326.79 546,827.03 35,159.39 20 25-Jun-07 2,331,484.44 539,222.26 2,870,706.70 90,402,842.35 550,677.04 51,679.72 21 25-Jul-07 2,310,905.32 515,188.51 2,826,093.84 88,091,937.03 518,761.64 32,165.85 22 25-Aug-07 2,289,073.78 514,931.52 2,804,005.30 85,802,863.26 522,123.36 40,795.48 23 25-Sep-07 2,268,725.12 506,793.58 2,775,518.70 83,534,138.14 508,925.38 28,760.32 24 25-Oct-07 2,248,707.40 485,379.80 2,734,087.20 81,285,430.74 480,669.35 13,117.71 25 25-Nov-07 2,228,865.34 481,084.05 2,709,949.39 79,056,565.39 485,280.80 30,190.11 26 25-Dec-07 2,209,197.40 461,156.23 2,670,353.63 76,847,368.00 458,396.32 15,674.19 27 25-Jan-08 2,189,702.04 456,022.55 2,645,724.59 74,657,665.95 461,630.68 31,074.01 28 25-Feb-08 2,170,289.12 443,167.88 2,613,457.00 72,487,376.83 448,991.20 29,928.53 29 25-Mar-08 2,151,135.90 422,480.67 2,573,616.56 70,336,240.94 407,638.80 213.34 30 25-Apr-08 2,132,150.53 414,927.31 2,547,077.83 68,204,090.41 421,911.94 26,619.81 31 25-May-08 2,113,331.77 397,105.99 2,510,437.76 66,090,758.64 394,446.99 11,216.52 32 25-Jun-08 2,094,678.17 388,511.70 2,483,189.88 63,996,080.47 393,656.75 22,367.32 33 25-Jul-08 2,076,188.28 372,556.17 2,448,744.46 61,919,892.18 368,244.11 8,781.09 34 25-Aug-08 2,054,184.49 405,229.42 2,459,413.91 59,865,707.69 368,120.64 0 35 25-Sep-08 2,035,399.04 392,399.62 2,427,798.66 57,830,308.66 356,526.90 0 36 25-Oct-08 2,017,459.68 375,275.04 2,392,734.73 55,812,848.97 334,644.72 0 37 25-Nov-08 1,999,677.66 337,524.09 2,337,201.75 53,813,171.31 335,706.53 0 38 25-Dec-08 1,982,051.60 315,031.27 2,297,082.87 51,831,119.72 315,031.27 0 39 25-Jan-09 1,964,580.12 314,836.62 2,279,416.74 49,866,539.59 314,836.62 0 40 25-Feb-09 1,946,128.65 303,590.26 2,249,718.91 47,920,410.95 303,590.26 0 41 25-Mar-09 1,928,973.86 263,583.56 2,192,557.42 45,991,437.08 263,583.56 0 42 25-Apr-09 1,911,975.64 279,523.18 2,191,498.82 44,079,461.45 279,523.18 0 43 25-May-09 1,895,126.48 258,268.91 2,153,395.39 42,184,334.97 258,268.91 0 44 25-Jun-09 1,878,425.08 254,568.40 2,132,993.48 40,305,909.88 254,568.40 0 45 25-Jul-09 1,861,870.16 235,017.04 2,096,887.20 38,444,039.73 235,017.04 0 46 25-Aug-09 1,845,104.72 231,665.92 2,076,770.64 36,598,935.01 231,665.92 0 47 25-Sep-09 1,828,828.84 221,019.95 2,049,848.80 34,770,106.17 221,019.95 0 48 25-Oct-09 1,812,710.97 204,100.52 2,016,811.50 32,957,395.19 204,100.52 0 49 25-Nov-09 1,796,734.46 201,157.29 1,997,891.75 31,160,660.73 201,157.29 0 50 25-Dec-09 1,780,898.07 185,120.29 1,966,018.36 29,379,762.67 185,120.29 0 51 25-Jan-10 1,765,200.57 181,066.66 1,946,267.23 27,614,562.10 181,066.66 0 52 25-Feb-10 1,749,554.75 170,544.47 1,920,099.22 25,865,007.35 170,544.47 0 53 25-Mar-10 1,734,129.29 144,280.76 1,878,410.05 24,130,878.06 144,280.76 0 54 25-Apr-10 1,718,842.48 148,697.15 1,867,539.63 22,412,035.58 148,697.15 0 55 25-May-10 1,703,689.74 133,090.14 1,836,779.88 20,708,345.84 133,090.14 0 56 25-Jun-10 1,688,458.58 126,572.86 1,815,031.45 19,019,887.26 126,572.86 0 57 25-Jul-10 1,673,574.31 112,233.18 1,785,807.49 17,346,312.95 112,233.18 0 58 25-Aug-10 1,683,564.90 105,694.94 1,789,259.84 15,662,748.05 105,694.94 0 59 25-Sep-10 1,668,687.12 95,531.02 1,764,218.14 13,994,060.93 95,531.02 0 60 25-Oct-10 1,653,944.64 82,833.18 1,736,777.82 12,340,116.29 82,833.18 0 61 25-Nov-10 1,639,331.50 75,828.64 1,715,160.14 10,700,784.79 75,828.64 0 62 25-Dec-10 1,624,846.57 63,883.69 1,688,730.25 9,075,938.22 63,883.69 0 63 25-Jan-11 1,610,488.73 56,130.14 1,666,618.87 7,465,449.49 56,130.14 0 64 25-Feb-11 1,590,352.82 46,202.22 1,636,555.04 5,875,096.67 46,202.22 0 65 25-Mar-11 1,576,341.43 32,809.15 1,609,150.58 4,298,755.24 32,809.15 0 66 25-Apr-11 1,562,449.16 26,504.21 1,588,953.38 2,736,306.07 26,504.21 0 67 25-May-11 1,548,678.67 16,253.66 1,564,932.33 1,187,627.40 16,253.66 0 68 25-Jun-11 1,187,627.40 7,262.04 1,194,889.45 0 7,262.04 0
Couponcap Couponcap Capped Accum Shortfall Optimal Effective Couponcap Credit Period Shortfall Payback Interest Coupon Coupon Rate Support LIBOR_1MO Total 1,163,835.57 23,722,679.43 0 0 0 0 0 0 0 0 0 1 0 0 164,647.89 4.198 4.198 18.1598 8.13 4.088 2 899.38 7,796.31 716,823.33 6.289 6.2812 6.2136 8.2 6.179 3 7,469.57 34,769.32 717,046.37 6.49 6.4338 6.1363 8.28 6.38 4 15,964.39 38,869.16 712,631.13 6.636 6.5622 6.2228 8.36 6.526 5 0 16,047.90 681,663.17 6.726 6.8843 6.8954 8.44 6.616 6 10,323.92 51,635.08 685,009.98 6.796 6.7021 6.2323 8.52 6.686 7 17,055.60 35,291.04 671,169.56 6.846 6.7819 6.4432 8.6 6.736 8 25,858.99 59,019.50 657,342.91 6.88 6.7974 6.2374 8.68 6.77 9 29,427.51 41,220.53 644,264.40 6.901 6.8667 6.4538 8.76 6.791 10 38,426.49 58,331.03 630,852.88 6.915 6.8276 6.2497 8.84 6.805 11 47,219.96 57,862.69 617,200.86 6.923 6.8363 6.2503 8.93 6.813 12 50,861.32 40,631.57 603,661.72 6.93 6.894 6.4592 9.01 6.82 13 60,678.00 54,689.05 590,207.39 6.931 6.8302 6.251 9.09 6.821 14 64,428.32 38,621.60 576,860.49 6.93 6.8919 6.4595 9.18 6.82 15 74,814.96 50,903.96 563,571.24 6.926 6.8151 6.2505 9.27 6.816 16 85,028.36 49,179.79 550,378.41 6.919 6.8081 6.2496 9.36 6.809 17 64,768.83 20,716.45 536,582.57 6.909 7.1757 6.9187 9.44 6.799 18 77,382.82 42,501.26 524,426.98 6.901 6.7553 6.2489 9.53 6.791 19 82,425.16 30,562.07 511,667.64 6.901 6.843 6.4573 9.62 6.791 20 94,369.39 40,224.94 498,997.32 6.896 6.7526 6.2488 9.72 6.786 21 98,484.04 28,592.72 486,595.79 6.886 6.8386 6.459 9.81 6.776 22 106,259.60 33,603.65 481,327.87 6.883 6.7882 6.3452 9.9 6.773 23 109,021.66 26,628.52 480,165.06 6.888 6.8591 6.4987 9.99 6.778 24 104,938.55 17,828.15 467,551.64 6.905 6.9727 6.7166 10.09 6.795 25 109,761.79 25,993.36 455,090.69 6.933 6.873 6.5017 10.18 6.823 26 107,638.32 18,434.10 442,722.13 6.958 6.9999 6.7201 10.28 6.848 27 113,893.04 25,465.88 430,556.66 6.976 6.8913 6.5064 10.38 6.866 28 120,401.32 24,105.21 419,062.67 6.984 6.8934 6.5185 10.48 6.874 29 106,236.54 15,055.20 407,425.46 6.981 7.2352 6.9773 10.58 6.871 30 113,858.43 19,635.18 395,292.13 6.966 6.8507 6.5265 10.68 6.856 31 111,857.92 13,875.52 383,230.47 6.94 6.9868 6.7427 10.78 6.83 32 117,669.22 17,222.27 371,289.43 6.917 6.8266 6.524 10.88 6.807 33 114,034.25 13,093.15 359,463.03 6.905 6.9859 6.7403 10.99 6.795 34 77,603.42 37,108.78 368,120.64 6.904 7.6 7.6017 11.09 6.794 35 42,192.85 35,872.73 356,526.90 6.916 7.6119 7.6342 11.2 6.806 36 1,806.69 40,630.32 334,644.72 6.944 7.7871 7.8906 11.3 6.834 37 0 1,817.55 335,706.53 6.985 7.0228 7.6388 11.41 6.875 38 0 0 315,031.27 7.025 7.025 7.8962 11.52 6.915 39 0 0 314,836.62 7.054 7.054 7.6472 11.63 6.944 40 0 0 303,590.26 7.07 7.07 7.8421 11.74 6.96 41 0 0 263,583.56 7.072 7.072 8.6848 11.85 6.962 42 0 0 279,523.18 7.058 7.058 7.8439 11.96 6.948 43 0 0 258,268.91 7.031 7.031 8.1041 12.08 6.921 44 0 0 254,568.40 7.008 7.008 7.8416 12.19 6.898 45 0 0 235,017.04 6.997 6.997 8.1026 12.31 6.887 46 0 0 231,665.92 6.998 6.998 7.8975 12.43 6.888 47 0 0 221,019.95 7.013 7.013 7.9034 12.55 6.903 48 0 0 204,100.52 7.044 7.044 8.169 12.67 6.934 49 0 0 201,157.29 7.088 7.088 7.9084 12.79 6.978 50 0 0 185,120.29 7.129 7.129 8.1749 12.91 7.019 51 0 0 181,066.66 7.157 7.157 7.9169 13.03 7.047 52 0 0 170,544.47 7.172 7.172 7.9481 13.16 7.062 53 0 0 144,280.76 7.172 7.172 8.8013 13.28 7.062 54 0 0 148,697.15 7.156 7.156 7.949 13.41 7.046 55 0 0 133,090.14 7.126 7.126 8.2125 13.54 7.016 56 0 0 126,572.86 7.098 7.098 7.9512 13.67 6.988 57 0 0 112,233.18 7.081 7.081 8.2208 13.8 6.971 58 0 0 105,694.94 7.076 7.076 8.3963 13.93 6.966 59 0 0 95,531.02 7.083 7.083 8.5118 14.07 6.973 60 0 0 82,833.18 7.103 7.103 8.7973 14.21 6.993 61 0 0 75,828.64 7.136 7.136 8.516 14.35 7.026 62 0 0 63,883.69 7.164 7.164 8.8021 14.49 7.054 63 0 0 56,130.14 7.182 7.182 8.5217 14.63 7.072 64 0 0 46,202.22 7.187 7.187 8.734 14.77 7.077 65 0 0 32,809.15 7.18 7.18 9.6677 14.91 7.07 66 0 0 26,504.21 7.16 7.16 8.7313 15.06 7.05 67 0 0 16,253.66 7.128 7.128 9.0208 15.21 7.018 68 0 0 7,262.04 7.101 7.101 8.7359 100 6.991
EX-99.13 14 x14945exv99w13.txt COMPUTATIONAL MATERIALS Exhibit 99.13 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_FIX_PRICED - PRICE/YIELD - A1B3 Balance 23,575,000 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
TO CALL PREPAY VECTOR 1 VECTOR 2 5 CPR 30 CPR PRICE YIELD YIELD YIELD YIELD - ------------------------------------------------------------------------------------- 93.98222 5.91 5.92 5.77 6.76 94.08222 5.90 5.91 5.76 6.73 94.18222 5.89 5.90 5.76 6.71 94.28222 5.87 5.89 5.75 6.68 94.38222 5.86 5.88 5.74 6.65 94.48222 5.85 5.86 5.73 6.63 94.58222 5.84 5.85 5.72 6.60 94.68222 5.83 5.84 5.71 6.57 94.78222 5.82 5.83 5.70 6.55 94.88222 5.81 5.82 5.70 6.52 94.98222 5.80 5.81 5.69 6.50 95.08222 5.79 5.80 5.68 6.47 95.18222 5.78 5.79 5.67 6.44 95.28222 5.77 5.78 5.66 6.42 95.38222 5.75 5.76 5.65 6.39 95.48222 5.74 5.75 5.65 6.37 95.58222 5.73 5.74 5.64 6.34 95.68222 5.72 5.73 5.63 6.31 95.78222 5.71 5.72 5.62 6.29 95.88222 5.70 5.71 5.61 6.26 95.98222 5.69 5.70 5.60 6.24 WAL 14.41 13.98 22.01 4.70 Principal Window Apr16 - May22 Sep15 - Dec21 Jun23 - Apr30 Oct08 - Feb12 Principal # Months 74 76 83 41 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y)
TO MATURITY PREPAY VECTOR 1 VECTOR 2 5 CPR 30 CPR PRICE YIELD YIELD YIELD YIELD - ------------------------------------------------------------------------------------- 93.98222 5.90 5.91 5.77 6.68 94.08222 5.89 5.90 5.76 6.65 94.18222 5.88 5.89 5.76 6.63 94.28222 5.87 5.88 5.75 6.60 94.38222 5.86 5.87 5.74 6.58 94.48222 5.85 5.86 5.73 6.56 94.58222 5.84 5.85 5.72 6.53 94.68222 5.83 5.84 5.71 6.51 94.78222 5.82 5.83 5.71 6.48 94.88222 5.81 5.82 5.70 6.46 94.98222 5.80 5.81 5.69 6.44 95.08222 5.79 5.80 5.68 6.41 95.18222 5.78 5.79 5.67 6.39 95.28222 5.77 5.78 5.66 6.36 95.38222 5.76 5.77 5.66 6.34 95.48222 5.75 5.76 5.65 6.32 95.58222 5.74 5.75 5.64 6.29 95.68222 5.73 5.74 5.63 6.27 95.78222 5.72 5.73 5.62 6.25 95.88222 5.71 5.72 5.61 6.22 95.98222 5.70 5.71 5.61 6.20 WAL 16.02 15.66 22.65 5.35 Principal Window Apr16 - Jun32 Sep15 - Jul32 Jun23 - Apr34 Oct08 - Nov18 Principal # Months 195 203 131 122 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 Optional Redemption Call (N) Call (N) Call (N) Call (N)
EX-99.14 15 x14945exv99w14.txt COMPUTATIONAL MATERIALS Exhibit 99.14 COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., (MERRILL LYNCH LOGO) SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement.
CLASS B-1 ------------------------------------------------------ NO PREAY STRESS MIN 0 FWD LIBOR/SWAP SHIFT -200 BP BP 200 BP PREPAY 1.00x Base Case 1.00x Base Case 1.00x Base Case Loss Severity: 40% Recovery Delay: 12 months % CUM LOSS YIELD BREAK 6.05% 4.65% 3.74% CDR - YIELD BREAK 5.726 4.254 3.348 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.39% 3.82% 2.81% CDR - 1ST $ PRINCIPAL LOSS 5.021 3.435 2.47 Loss Severity: 50% Do NOT explicitly calc. Interpolate please. Recovery Delay: 12 months % CUM LOSS YIELD BREAK 6.14% 4.70% 3.77% CDR - YIELD BREAK 4.742 3.528 2.777 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.46% 3.86% 2.83% CDR - 1ST $ PRINCIPAL LOSS 4.160 2.851 2.051 Loss Severity: 60% Recovery Delay: 12 months % CUM LOSS YIELD BREAK 6.23% 4.75% 3.79% CDR - YIELD BREAK 3.757 2.801 2.205 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.52% 3.89% 2.84% CDR - 1ST $ PRINCIPAL LOSS 3.298 2.266 1.631 Loss Severity: 40% Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 5.42% 4.10% 3.25% CDR - YIELD BREAK 5.05 3.708 2.883 % CUM LOSS 1ST $ PRINCIPAL LOSS 4.82% 3.37% 2.44% CDR - 1ST $ PRINCIPAL LOSS 4.428 2.996 2.128 Loss Severity: 50% Do NOT explicitly calc. Interpolate please. Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 5.59% 4.23% 3.35% CDR - YIELD BREAK 4.251 3.130 2.438 % CUM LOSS 1ST $ PRINCIPAL LOSS 4.96% 3.47% 2.51% CDR - 1ST $ PRINCIPAL LOSS 3.729 2.531 1.801 Loss Severity: 60% Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 5.76% 4.35% 3.44% CDR - YIELD BREAK 3.452 2.551 1.992 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.10% 3.56% 2.58% CDR - 1ST $ PRINCIPAL LOSS 3.029 2.065 1.474
CLASS B-1 ------------------------------------------------------ PREPAY STRESS MIN 0 FWD LIBOR/SWAP SHIFT -200 BP BP 200 BP PREPAY 2.00x Base Case 1.00x Base Case 0.50x Base Case Loss Severity: 50% Recovery Delay: 12 months % CUM LOSS YIELD BREAK 6.16% 4.71% 3.77% CDR - YIELD BREAK 4.538 3.378 2.659 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.47% 3.86% 2.83% CDR - 1ST $ PRINCIPAL LOSS 3.982 2.73 1.963 Loss Severity: 50% Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 5.62% 4.25% 3.36% CDR - YIELD BREAK 4.101 3.022 2.356 % CUM LOSS 1ST $ PRINCIPAL LOSS 4.98% 3.48% 2.52% CDR - 1ST $ PRINCIPAL LOSS 3.597 2.444 1.742
CLASS B-2 ------------------------------------------------------ NO PREAY STRESS MIN 0 FWD LIBOR/SWAP SHIFT -200 BP BP 200 BP PREPAY 1.00x Base Case 1.00x Base Case 1.00x Base Case Loss Severity: 40% Recovery Delay: 12 months % CUM LOSS YIELD BREAK 5.26% 3.73% 2.75% CDR - YIELD BREAK 4.879 3.346 2.411 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.01% 3.46% 2.45% CDR - 1ST $ PRINCIPAL LOSS 4.626 3.082 2.138 Loss Severity: 50 Do NOT explicitly calc. Interpolate please. Recovery Delay: 12 months % CUM LOSS YIELD BREAK 5.33% 3.77% 2.77% CDR - YIELD BREAK 4.047 2.780 2.003 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.07% 3.49% 2.47% CDR - 1ST $ PRINCIPAL LOSS 3.838 2.562 1.778 Loss Severity: 60% Recovery Delay: 12 months % CUM LOSS YIELD BREAK 5.39% 3.80% 2.78% CDR - YIELD BREAK 3.215 2.213 1.595 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.13% 3.52% 2.48% CDR - 1ST $ PRINCIPAL LOSS 3.049 2.042 1.417 Loss Severity: 40% Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 4.70% 3.29% 2.39% CDR - YIELD BREAK 4.307 2.921 2.08 % CUM LOSS 1ST $ PRINCIPAL LOSS 4.48% 3.05% 2.14% CDR - 1ST $ PRINCIPAL LOSS 4.084 2.692 1.847 Loss Severity: 50 Do NOT explicitly calc. Interpolate please. Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 4.85% 3.39% 2.46% CDR - YIELD BREAK 3.631 2.469 1.762 % CUM LOSS 1ST $ PRINCIPAL LOSS 4.62% 3.14% 2.20% CDR - 1ST $ PRINCIPAL LOSS 3.444 2.277 1.566 Loss Severity: 60% Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 4.99% 3.48% 2.53% CDR - YIELD BREAK 2.955 2.017 1.443 % CUM LOSS 1ST $ PRINCIPAL LOSS 4.75% 3.23% 2.26% CDR - 1ST $ PRINCIPAL LOSS 2.804 1.862 1.284
CLASS B-2 ------------------------------------------------------ PREPAY STRESS MIN 0 FWD LIBOR/SWAP SHIFT -200 BP BP 200 BP PREPAY 2.00x Base Case 1.00x Base Case 0.50x Base Case Loss Severity: 50% Recovery Delay: 12 months % CUM LOSS YIELD BREAK 5.34% 3.77% 2.77% CDR - YIELD BREAK 3.876 2.663 1.921 % CUM LOSS 1ST $ PRINCIPAL LOSS 5.08% 3.50% 2.47% CDR - 1ST $ PRINCIPAL LOSS 3.675 2.456 1.705 Loss Severity: 50% Recovery Delay: 12 months. NO ADVANCE % CUM LOSS YIELD BREAK 4.87% 3.40% 2.47% CDR - YIELD BREAK 3.505 2.386 1.704 % CUM LOSS 1ST $ PRINCIPAL LOSS 4.64% 3.15% 2.21% CDR - 1ST $ PRINCIPAL LOSS 3.324 2.201 1.514
EX-99.15 16 x14945exv99w15.txt COMPUTATIONAL MATERIALS Exhibit 99.15 {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_FIX_PRICED - PRICE/YIELD - A1A Balance 141,124,000 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Prepay 50 PPC 60 PPC 75 PPC 85 PPC PRICE Yield Yield Yield Yield - -------------------------------------------------------------------------------------------------------------- 97.20406 5.82 5.88 5.98 6.05 97.30406 5.80 5.86 5.95 6.02 97.40406 5.78 5.84 5.92 5.99 97.50406 5.76 5.81 5.90 5.96 97.60406 5.74 5.79 5.87 5.92 97.70406 5.72 5.76 5.84 5.89 97.80406 5.69 5.74 5.81 5.86 97.90406 5.67 5.72 5.79 5.83 98.00406 5.65 5.69 5.76 5.80 98.10406 5.63 5.67 5.73 5.77 98.20406 5.61 5.65 5.70 5.74 98.30406 5.59 5.62 5.67 5.71 98.40406 5.57 5.60 5.65 5.68 98.50406 5.55 5.57 5.62 5.65 98.60406 5.53 5.55 5.59 5.62 98.70406 5.50 5.53 5.56 5.59 98.80406 5.48 5.50 5.54 5.56 98.90406 5.46 5.48 5.51 5.53 99.00406 5.44 5.46 5.48 5.50 99.10406 5.42 5.43 5.46 5.47 99.20406 5.40 5.41 5.43 5.44 WAL 6.32 5.48 4.53 4.04 Mod Durn 4.79 4.28 3.66 3.33 Principal Window Nov05 - Feb20 Nov05 - Feb18 Nov05 - Nov15 Nov05 - Sep14 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 OPTIONAL REDEMPTION CALL (Y) CALL (Y) CALL (Y) CALL (Y)
Prepay 50 PPC 60 PPC 75 PPC 85 PPC PRICE Yield Yield Yield Yield - -------------------------------------------------------------------------------------------------------------- 97.20406 5.82 5.88 5.97 6.03 97.30406 5.80 5.86 5.94 6.00 97.40406 5.78 5.84 5.92 5.97 97.50406 5.76 5.81 5.89 5.94 97.60406 5.74 5.79 5.86 5.92 97.70406 5.72 5.77 5.84 5.89 97.80406 5.70 5.75 5.81 5.86 97.90406 5.68 5.72 5.79 5.83 98.00406 5.66 5.70 5.76 5.80 98.10406 5.64 5.68 5.74 5.78 98.20406 5.62 5.66 5.71 5.75 98.30406 5.60 5.63 5.69 5.72 98.40406 5.58 5.61 5.66 5.69 98.50406 5.56 5.59 5.64 5.67 98.60406 5.54 5.57 5.61 5.64 98.70406 5.52 5.55 5.59 5.61 98.80406 5.50 5.52 5.56 5.58 98.90406 5.48 5.50 5.54 5.56 99.00406 5.46 5.48 5.51 5.53 99.10406 5.44 5.46 5.49 5.50 99.20406 5.42 5.44 5.46 5.47 WAL 7.05 6.21 5.22 4.70 Mod Durn 5.05 4.57 3.98 3.66 Principal Window Nov05 - Sep32 Nov05 - Nov30 Nov05 - Sep27 Nov05 - Aug25 LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 OPTIONAL REDEMPTION CALL (N) CALL (N) CALL (N) CALL (N)
EX-99.16 17 x14945exv99w16.txt COMPUTATIONAL MATERIALS Exhibit 99.16 {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement.
0 PPC 25 PPC 50 PPC 75 PPC 100 PPC 125 PPC 150 PPC 200 PPC PRICING PRICING PRICING PRICING PRICING PRICING PRICING PRICING SPEED SPEED SPEED SPEED SPEED SPEED SPEED SPEED TO CALL TO CALL TO CALL TO CALL TO CALL TO CALL TO CALL TO CALL YIELD YIELD YIELD YIELD YIELD YIELD YIELD YIELD - ----------------------------------------------------------------------------------------------------------------------------------- CLASS A-1B4 96.35609 5.70 5.79 5.84 5.89 5.95 6.04 6.15 6.48 96.45609 5.69 5.78 5.83 5.87 5.93 6.02 6.12 6.44 96.55609 5.68 5.76 5.81 5.85 5.91 5.99 6.10 6.41 96.65609 5.67 5.75 5.79 5.84 5.89 5.97 6.07 6.37 96.75609 5.65 5.73 5.78 5.82 5.87 5.95 6.05 6.33 96.85609 5.64 5.72 5.76 5.80 5.85 5.93 6.02 6.30 96.95609 5.63 5.70 5.75 5.78 5.83 5.90 5.99 6.26 97.05609 5.62 5.69 5.73 5.76 5.81 5.88 5.97 6.23 97.15609 5.61 5.67 5.71 5.75 5.79 5.86 5.94 6.19 97.25609 5.59 5.66 5.70 5.73 5.77 5.84 5.92 6.15 97.35609 5.58 5.64 5.68 5.71 5.75 5.81 5.89 6.12 97.45609 5.57 5.63 5.66 5.69 5.73 5.79 5.86 6.08 97.55609 5.56 5.61 5.65 5.68 5.71 5.77 5.84 6.05 97.65609 5.55 5.60 5.63 5.66 5.69 5.75 5.81 6.01 97.75609 5.53 5.58 5.61 5.64 5.67 5.73 5.79 5.97 97.85609 5.52 5.57 5.60 5.62 5.65 5.70 5.76 5.94 97.95609 5.51 5.55 5.58 5.60 5.63 5.68 5.74 5.90 98.05609 5.50 5.54 5.56 5.59 5.61 5.66 5.71 5.87 98.15609 5.49 5.53 5.55 5.57 5.59 5.64 5.69 5.83 98.25609 5.47 5.51 5.53 5.55 5.57 5.61 5.66 5.80 98.35609 5.46 5.50 5.52 5.53 5.56 5.59 5.63 5.76 WAL 12.19 9.17 8.00 7.18 6.40 5.41 4.60 3.19 Mod Durn 8.41 6.86 6.20 5.72 5.23 4.55 3.96 2.85 Principal Window Nov08 - Apr34 Nov08 - Jan28 Nov08 - Feb20 Nov08 - Nov15 Jan09 - Apr13 Mar09 - Aug11 May09 - Jul10 Jan09 - Jan09
0 PPC 25 PPC 50 PPC 75 PPC 100 PPC 125 PPC 150 PPC 200 PPC PRICING PRICING PRICING PRICING PRICING PRICING PRICING PRICING SPEED SPEED SPEED SPEED SPEED SPEED SPEED SPEED TO MATURITY TO MATURITY TO MATURITY TO MATURITY TO MATURITY TO MATURITY TO MATURITY TO MATURITY YIELD YIELD YIELD YIELD YIELD YIELD YIELD YIELD - ----------------------------------------------------------------------------------------------------------------------------------- CLASS A-1B4 96.35609 5.70 5.79 5.84 5.89 5.94 6.01 6.07 6.20 96.45609 5.69 5.78 5.83 5.87 5.92 5.99 6.05 6.18 96.55609 5.68 5.76 5.81 5.85 5.90 5.97 6.03 6.16 96.65609 5.67 5.75 5.80 5.84 5.88 5.95 6.01 6.14 96.75609 5.65 5.73 5.78 5.82 5.86 5.93 5.99 6.11 96.85609 5.64 5.72 5.76 5.80 5.85 5.91 5.97 6.09 96.95609 5.63 5.70 5.75 5.78 5.83 5.89 5.95 6.07 97.05609 5.62 5.69 5.73 5.77 5.81 5.87 5.93 6.05 97.15609 5.61 5.67 5.71 5.75 5.79 5.85 5.91 6.03 97.25609 5.59 5.66 5.70 5.73 5.77 5.83 5.89 6.01 97.35609 5.58 5.64 5.68 5.71 5.75 5.82 5.87 5.99 97.45609 5.57 5.63 5.66 5.70 5.73 5.80 5.85 5.97 97.55609 5.56 5.61 5.65 5.68 5.72 5.78 5.83 5.95 97.65609 5.55 5.60 5.63 5.66 5.70 5.76 5.81 5.93 97.75609 5.53 5.58 5.61 5.64 5.68 5.74 5.80 5.91 97.85609 5.52 5.57 5.60 5.63 5.66 5.72 5.78 5.89 97.95609 5.51 5.55 5.58 5.61 5.64 5.70 5.76 5.87 98.05609 5.50 5.54 5.57 5.59 5.63 5.68 5.74 5.85 98.15609 5.49 5.53 5.55 5.57 5.61 5.67 5.72 5.83 98.25609 5.47 5.51 5.53 5.56 5.59 5.65 5.70 5.81 98.35609 5.46 5.50 5.52 5.54 5.57 5.63 5.68 5.79 WAL 12.19 9.18 8.06 7.37 6.96 6.71 6.47 6.00 Mod Durn 8.41 6.86 6.23 5.82 5.57 5.41 5.27 4.96 Principal Window Nov08 - Jan35 Nov08 - Dec34 Nov08 - Jul32 Nov08 - Jul27 Jan09 - Oct22 Mar09 - Jun19 May09 - Jan17 May10 - Dec13
EX-99.17 18 x14945exv99w17.txt COMPUTATIONAL MATERIALS Exhibit 99.17 {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50HEP Yield Yield Yield Yield Yield Yield Yield 99.75759 5.26 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.26 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.25 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.25 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.25 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.24 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.24 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.23 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.23 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.22 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.22 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.22 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.21 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.21 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.20 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.20 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.20 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.19 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.19 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.18 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.18 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.67 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.369 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug11 Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield Yield 99.75759 5.26 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.26 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.25 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.25 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.25 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.24 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.24 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.23 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.23 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.22 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.22 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.22 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.21 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.21 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.20 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.20 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.20 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.19 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.19 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.18 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.18 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.67 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.369 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug11 Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50HEP Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield Yield 99.75759 5.26 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.26 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.25 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.25 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.25 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.24 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.24 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.23 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.23 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.22 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.22 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.22 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.21 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.21 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.20 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.20 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.20 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.19 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.19 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.18 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.18 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.67 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.369 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug11 Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) -300bp -300bp -300bp -300bp -300bp -300bp -300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield Yield 99.75759 5.26 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.26 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.25 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.25 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.25 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.24 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.24 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.23 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.23 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.22 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.22 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.22 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.21 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.21 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.20 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.20 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.20 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.19 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.19 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.18 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.18 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.67 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.369 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug11 Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) -300bp -300bp -300bp -300bp -300bp -300bp -300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield Yield 99.75759 5.26 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.26 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.25 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.25 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.25 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.24 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.24 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.23 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.23 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.22 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.22 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.22 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.21 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.21 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.20 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.20 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.20 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.19 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.19 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.18 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.18 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.67 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.369 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug11 Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) 300bp 300bp 300bp 300bp 300bp 300bp 300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield Yield 99.75759 5.26 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.26 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.25 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.25 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.25 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.24 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.24 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.23 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.23 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.22 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.22 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.22 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.21 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.21 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.20 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.20 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.20 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.19 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.19 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.18 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.18 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.67 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.369 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug11 Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) 300bp 300bp 300bp 300bp 300bp 300bp 300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 8 HEP 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
EX-99.18 19 x14945exv99w18.txt COMPUTATIONAL MATERIALS Exhibit 99.18 {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- RMBS NEW TRANSACTION COMPUTATIONAL MATERIALS $[996,774,000] (APPROXIMATE) MLMI 2005-A8 MORTGAGE PASS-THROUGH CERTIFICATES MERRILL LYNCH MORTGAGE LENDING, INC. SELLER WELLS FARGO BANK MINNESOTA, N.A. MASTER SERVICER NOVEMBER [1], 2005 - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. {MERRILL LYNCH LOGO} COMPUTATIONAL MATERIALS FOR MERRILL LYNCH MORTGAGE INVESTORS, INC., SERIES 2005-A8 - -------------------------------------------------------------------------------- IMPORTANT NOTICES This document and the information contained herein (the "Computational Materials") are confidential and may not be used by or disclosed to any person other than the person to whom they were originally delivered and such person's legal, tax, financial and/or accounting advisors. If you have received these Computational Materials in error, please notify the sending party immediately by telephone and return the original to such party by mail. Notwithstanding the foregoing, except to the extent necessary to comply with applicable securities laws, any recipient of these Computational Materials may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the issuer or the securities, and all materials of any kind relating to such federal tax treatment and structure, other than the identity of the issuer and information that would permit the identification of the issuer. These Computational Materials are furnished to you solely by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and not by the issuer of the securities. The issuer of these securities has not prepared or taken part in the preparation of these materials. None of Merrill Lynch, the issuer of the securities nor any of their affiliates makes any representation as to the accuracy or completeness of the information herein. The information herein is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the 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 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. Although a registration statement (including the prospectus) relating to the securities discussed in these Computational Materials has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities has not been filed with the Securities and Exchange Commission. These Computational Materials shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in these Computational Materials in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in these Computational Materials for definitive information on any matter discussed herein. A final prospectus and prospectus supplement may be obtained by contacting the Merrill Lynch Trading Desk at (212) 449-3659. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. - -------------------------------------------------------------------------------- Recipients must read the information contained in the Important Notices section following the cover page of these Computational Materials. Do not use or rely on the information contained in these Computational Materials if you have not received or reviewed the Important Notices section. If you have not received the Important Notices section, call your Merrill Lynch account executive for another copy. The information set forth in these Computational Materials supersedes any previously distributed information relating to the securities described herein and will be superseded by the information set forth in the final prospectus supplement. MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield 99.75759 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield 99.75759 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield 99.75759 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) -300bp -300bp -300bp -300bp -300bp -300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield 99.75759 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) -300bp -300bp -300bp -300bp -300bp -300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield 99.75759 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) 300bp 300bp 300bp 300bp 300bp 300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (N) Call (N) Call (N) Call (N) Call (N) Call (N) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
MLMI05_A8_MARKET_CORPORATEONECU - PRICE/YIELD - A1B1 Balance $66,936,000.00 Delay 24 WAC 6.2861 WAM 344 Coupon 5.25 Dated 10/1/2005 NET 5.8991 WALA 3 Settle 11/15/2005 First Payment 11/25/2005
Price 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Yield Yield Yield Yield Yield Yield 99.75759 5.25 5.23 5.21 5.17 5.13 5.10 99.76759 5.25 5.23 5.20 5.16 5.12 5.08 99.77759 5.24 5.22 5.20 5.15 5.10 5.06 99.78759 5.24 5.21 5.19 5.14 5.09 5.04 99.79759 5.23 5.21 5.18 5.12 5.07 5.02 99.80759 5.23 5.20 5.17 5.11 5.05 5.00 99.81759 5.22 5.19 5.16 5.10 5.04 4.98 99.82759 5.22 5.19 5.15 5.09 5.02 4.96 99.83759 5.21 5.18 5.14 5.07 5.01 4.94 99.84759 5.21 5.17 5.14 5.06 4.99 4.92 99.85759 5.20 5.17 5.13 5.05 4.97 4.90 99.86759 5.20 5.16 5.12 5.04 4.96 4.88 99.87759 5.19 5.15 5.11 5.03 4.94 4.86 99.88759 5.19 5.14 5.10 5.01 4.93 4.84 99.89759 5.18 5.14 5.09 5.00 4.91 4.82 99.90759 5.18 5.13 5.08 4.99 4.89 4.80 99.91759 5.17 5.12 5.07 4.98 4.88 4.78 99.92759 5.17 5.12 5.07 4.96 4.86 4.76 99.93759 5.16 5.11 5.06 4.95 4.85 4.74 99.94759 5.16 5.10 5.05 4.94 4.83 4.72 99.95759 5.16 5.10 5.04 4.93 4.81 4.70 WAL 2.22 1.57 1.22 0.85 0.65 0.53 Mod Durn 2.007 1.452 1.142 0.803 0.622 0.508 Principal Window Nov05 - Aug10 Nov05 - Feb09 Nov05 - May08 Nov05 - Jul07 Nov05 - Feb07 Nov05 - Nov06 Shock(bps) 300bp 300bp 300bp 300bp 300bp 300bp LIBOR_1MO 4.08800 4.08800 4.08800 4.08800 4.08800 4.08800 LIBOR_6MO 4.45400 4.45400 4.45400 4.45400 4.45400 4.45400 LIBOR_1YR 4.70800 4.70800 4.70800 4.70800 4.70800 4.70800 Prepay 10 HEP 15 HEP 20 HEP 30 HEP 40 HEP 50 HEP Optional Redemption Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) Call (Y) swap102204 Mat 2yr 3yr 4yr 5yr 6yr 7yr 8yr 9yr 10yr Yld 4.788 4.843 4.887 4.934 4.967 4.997 5.023 5.053 5.082
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