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)  July 25, 2005
                                                 -------------------------------


                     Merrill Lynch Mortgage Investors, Inc.
                     --------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)


Delaware                              333-126218             13-3416059
- --------------------------------------------------------------------------------
(State or Other Jurisdiction         (Commission             (IRS Employer
of Incorporation)                    File Number)            Identification No.)


4 World Financial Center, 10th Floor
250 Vesey Street  New York, New York                               10080
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices)                         (Zip Code)


        Registrant's telephone number, including area code (212) 449-1000
                                                           --------------

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

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:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12(b) 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))




Section 8. Other Events

Item 8.01. Other Events.

     It is expected that during August 2005, a single series of certificates,
expected to be titled Merrill Lynch Mortgage Trust 2005-CIP1, Commercial
Mortgage Pass-Through Certificates, Series 2005-CIP1 (the "Certificates"), will
be issued pursuant to a pooling and servicing agreement (the "Pooling and
Servicing Agreement"), to be entered into by and among Merrill Lynch Mortgage
Investors, Inc. (the "Registrant") and a master servicer, a special servicer, a
trustee and a fiscal agent. It is expected that certain classes of the
Certificates (the "Underwritten Certificates") will be registered under the
Registrant's registration statement on Form S-3 (no. 333-126218) and sold to
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Countrywide Securities
Corporation, PNC Capital Markets, Inc., IXIS Securities North America Inc. and
Wachovia Capital Markets, LLC (collectively, the "Underwriters") pursuant to an
underwriting agreement between the Registrant and the Underwriters.

     In connection with the expected sale of the Underwritten Certificates, the
Registrant has been advised that one or more prospective investors have been
furnished with certain materials listed as Exhibit 99.1 hereto, that constitute
"Computational Materials" (as defined in the no-action letter made available May
20, 1994 issued by the Division of Corporation Finance of the Securities and
Exchange Commission (the "Commission") to Kidder, Peabody Acceptance Corporation
I, Kidder, Peabody & Co. Incorporated, and Kidder Structured Asset Corporation
and the no-action letter made available May 27, 1994 issued by the Division of
Corporation Finance of the Commission to the Public Securities Association)
and/or "ABS Term Sheets" (as defined in the no-action letter made available
February 17, 1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association).

     The Computational Materials and/or ABS Term Sheets attached hereto have
been prepared and provided to the Registrant by one or more of the Underwriters.
The information in such Computational Materials and/or ABS Term Sheets is
preliminary and will be superseded by the final prospectus supplement relating
to the Underwritten Certificates and by any other information subsequently filed
with the Commission. To the extent any Computational Materials and/or ABS Term
Sheets previously filed by the Registrant with respect to the Underwritten
Certificates are inconsistent with the Computational Materials and/or ABS Term
Sheets attached hereto, such previously filed Computational Materials and/or ABS
Term Sheets are superseded by the Computational Materials and/or ABS Term Sheets
attached hereto.





Section 9. Financial Statements and Exhibits.

Item 9.01. Financial Statements and Exhibits.

(a)  Financial statements of businesses acquired:

     Not applicable.

(b)  Pro forma financial information:

     Not applicable.

(c)  Exhibits:

Exhibit No.    Description

99.1           Certain materials constituting ABS Term Sheets prepared and
               disseminated in connection with the expected sale of the
               Underwritten Certificates.



                                    SIGNATURE

     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, thereunto duly authorized.


Date: July 26, 2005



                                   MERRILL LYNCH MORTGAGE INVESTORS, INC.



                                   By: /s/ David M. Rodgers
                                       -----------------------------------------
                                       Name:  David M. Rodgers
                                       Title: Executive Vice President,
                                              Chief Officer in Charge of
                                              Commercial Mortgage Securitization




                                  EXHIBIT INDEX
                                  -------------

     The following exhibits are filed herewith:

Exhibit No.
- -----------
99.1         Certain materials constituting ABS Term Sheets prepared
             and disseminated in connection with the expected sale of
             the Underwritten Certificates.

EX-99.1

.99

                                                                    EXHIBIT 99.1


This material is for your private information and none of Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Countrywide Securities Corporation, IXIS Securities
North America Inc., or PNC Capital Markets, Inc. (collectively, the
"Underwriters") is soliciting any action based upon it. This material is not to
be construed as an offer to sell or the solicitation of any offer to buy any
security in any jurisdiction where such an offer or solicitation would be
illegal. This material is based on information that the Underwriters consider
reliable, but the Underwriters do not represent that it is accurate or complete
and it should not be relied upon as such. By accepting this material the
recipient agrees that it will not distribute or provide the material to any
other person. The information contained in this material may pertain to
securities that ultimately are not sold. The information contained in this
material may be based on assumptions regarding market conditions and other
matters as reflected herein. The Underwriters make no representation regarding
the reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. The Underwriters and their
affiliates, officers, directors, partners and employees, including persons
involved in the preparation or issuance of this material may, from time to time,
have long or short positions in, and buy and sell, any securities mentioned
herein or derivatives thereof (including options). This material may be filed
with the Securities and Exchange Commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the SEC
under Rule 415 of the Securities Act of 1933, including all cases where this
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing in this material only. INFORMATION IN THIS
MATERIAL REGARDING ANY ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN SUPERSEDES
ALL PRIOR INFORMATION REGARDING SUCH ASSETS. ANY INFORMATION IN THIS MATERIAL,
WHETHER REGARDING THE ASSETS BACKING ANY SECURITIES DISCUSSED HEREIN OR
OTHERWISE, WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION CONTAINED IN
ANY FINAL PROSPECTUS AND PROSPECTUS SUPPLEMENT FOR ANY SECURITIES ACTUALLY SOLD
TO YOU. This material is furnished solely by the Underwriters and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriters are acting as underwriters and not acting as
agents for the issuer in connection with the proposed transaction.



MLMT 2005-CIP1 COLLATERAL TERM SHEET 7/22/05


                                                     [ ]  Loan Level
                                                     [ ]  Property Level

<TABLE>

                       LOAN /   NO. OF  LOAN
    LOAN #     BOOK # PROPERTY  PROPS   GROUP ORIGINATOR                       PROPERTY NAME
- ------------------------------------------------------------------------------------------------------------------------------------

          2400        Loan        3              CRF                           Morgan RV Portfolio
          2400        Property    1              CRF                           Alpine Lake RV Resort
          2400        Property    1              CRF                           Brennan Beach RV Resort
          2400        Property    1              CRF                           Sandy Beach RV Resort
          2716        Property    1              CRF                           Villa Ramona Apartments
          2716        Property    1              CRF                           Villa Pines Apartments
          2716        Property    1              CRF                           Villa Marina Apartments
          2716        Property    1              CRF                           Driftwood Apartments
          2716        Property    1              CRF                           3040 Sunset Avenue
          2716        Property    1              CRF                           218-220 Cypress Avenue
          2716        Property    1              CRF                           214-216 Cypress Avenue
          2716        Property    1              CRF                           3148 Crescent Avenue
          2716        Property    1              CRF                           1281 Second Street
          2716        Property    1              CRF                           910 Casanova  Apartments
          2716        Property    15             CRF                           Verga - Owens Multifamilies
     940951908        Loan        1              PNC                           Park at Walnut Creek
     940951902        Loan        1              PNC                           The Exchange at San Marcos
          2557        Loan        1              CRF                           La Fiesta Apartments
   20058536001        Loan        1              MLML                          Renaissance at Norman Apartments
   20048509005        Loan        1              MLML                          Coconut Palms I
   20058503201        Loan        2              MLML                          Tierra Rica and Rolling Greens  Multifamily Portfolio
20058503201.01        Property    1              MLML                          Tierra Rica Apartments
20058503201.02        Property    1              MLML                          Rolling Greens Apartments
          2517        Loan        1              CRF                           Kern Canyon Estates
          2781        Loan        1              CRF                           Dos Santos
          2785        Loan        1              CRF                           Valley Ridge
       05-2042        Loan        1              IXIS Real Estate Capital Inc. La Quinta
          2541        Loan        1              CRF                           Nobl Park Apartments
   20059225004        Loan        1              MLML                          Golden Pond Apartments
   20059217001        Loan        1              MLML                          Oxford Hill Apartments
          2899        Loan        1              CRF                           Casa Real Apartments
          2692        Loan        1              CRF                           Sherwood Forest
          2783        Loan        1              CRF                           Santa Fe Village
          2049        Loan        1              CRF                           Park Forest
   20059225003        Loan        1              MLML                          Vintage Park
       05-0206        Loan        1              IXIS Real Estate Capital Inc. Maureen Manor Apartments
     940951888        Loan        1              PNC                           Texarkana Apartments Phase II
          2471        Loan        1              CRF                           6565 North Lakewood Avenue Apartments
     940951837        Loan        1              PNC                           Vista Pointe Apartments
     940951883        Loan        1              PNC                           Willow Creek Estates
       05-2096        Loan        1              IXIS Real Estate Capital Inc. Lincoln Apartments
   20059226001        Loan        1              MLML                          Hillside Village MHP
          2784        Loan        1              CRF                           Trevino Place
     940951886        Loan        1              PNC                           Chapel Ridge of Ripley
     940951946        Loan        1              PNC                           Conway Apartments Phase II
     940951745        Loan        1              PNC                           Edgewood at the Gables
     940951836        Loan        1              PNC                           Minnesota Estates Apartments I
          2782        Loan        1              CRF                           Lakeside
     940951887        Loan        1              PNC                           El Dorado Homes Phase III
          2786        Loan        1              CRF                           Villas Del Valle
</TABLE>



<TABLE>

                                                                                                             NCA/        ZIP
     LOAN #      ADDRESS                                                            CITY           STATE     SCA         CODE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400   Various                                                      Various              Various              Various
          2400   78 Heath Road                                                Corinth              NY                    12822
          2400   80 Brennan Beach                                             Pulaski              NY                    13142
          2400   677 Clement Hill Road                                        Contoocook           NH                    03229
          2716   455 Ramona Avenue                                            Monterey             CA        NCA         93940
          2716   215 Grove Acre Avenue                                        Pacific Grove        CA        NCA         93950
          2716   295 Reservation Road                                         Marina               CA        NCA         93933
          2716   321 Reservation Road                                         Marina               CA        NCA         93933
          2716   3040 Sunset Avenue                                           Marina               CA        NCA         93933
          2716   218-220 Cypress Avenue                                       Marina               CA        NCA         93933
          2716   214-216 Cypress Avenue                                       Marina               CA        NCA         93933
          2716   3148 Crescent Avenue                                         Marina               CA        NCA         93933
          2716   1281 Second Street                                           Monterey             CA        NCA         93940
          2716   910 Casanova Avenue                                          Monterey             CA        NCA         93940
          2716   3037-3056 Owen Avenue                                        Marina               CA        NCA         93933
     940951908   12001 Dessau Rd                                              Austin               TX                    78754
     940951902   1610 North Interstate 35                                     San Marcos           TX                    78666
          2557   1492 North Lamb Boulevard                                    Las Vegas            NV                    89110
   20058536001   1600 Ann Branden Boulevard                                   Norman               OK                    73071
   20048509005   4618 Middlebrook Road                                        Orlando              FL                    32811
   20058503201   Various                                                      Tucson               AZ                    85741
20058503201.01   3225 West Ina Road                                           Tucson               AZ                    85741
20058503201.02   3201 West Ina Road                                           Tucson               AZ                    85741
          2517   8536 Kern Canyon Road                                        Bakersfield          CA        SCA         93306
          2781   10561 Shannon Place                                          El Paso              TX                    79925
          2785   1650 George Dieter Drive                                     El Paso              TX                    79936
       05-2042   3409 South Rural Road                                        Tempe                AZ                    85282
          2541   6001 NE 102nd Avenue                                         Vancouver            WA                    98662
   20059225004   4120 South Hillcrest Avenue                                  Springfield          MO                    65807
   20059217001   725 Rosewood Drive                                           Taylor Mill          KY                    41015
          2899   17400 Burbank Boulevard                                      Encino               CA        SCA         91316
          2692   100 Lakeview Drive                                           Clute                TX                    77531
          2783   4554 Hercules Avenue                                         El Paso              TX                    79904
          2049   4328 S.E. 46th Street                                        Oklahoma City        OK                    73135
   20059225003   418 Mockingbird Lane                                         Nixa                 MO                    65714
       05-0206   3084 Yale Avenue                                             Memphis              TN                    38112
     940951888   4717 County Avenue                                           Texarkana            AR                    73112
          2471   6565-6589 North Lakewood Avenue and 1275 West Albion Avenue  Chicago              IL                    60626
     940951837   3300-3355 Palm Drive                                         Rapid City           SD                    57701
     940951883   2072-2114 Verlin Road                                        Village of Bellevue  WI                    54311
       05-2096   1205 Marble Avenue                                           Memphis              TN                    38108
   20059226001   2224 Highway 87 East                                         Billings             MT                    59101
          2784   10891 Edgemere Boulevard                                     El Paso              TX                    79935
     940951886   449 Roberson                                                 Ripley               TN                    38063
     940951946   401 2nd Street                                               Conway               AR                    72032
     940951745   7336 W. 7th Street                                           Tulsa                OK                    74127
     940951836   809 East Minnesota Street                                    Rapid City           SD                    57701
          2782   112 South Little Flower                                      El Paso              TX                    79915
     940951887   301 Moorewood Road                                           El Dorado            KS                    71730
          2786   9238 Betel                                                   El Paso              TX                    79907
</TABLE>


<TABLE>

                                                    PROPERTY                CTL          TOTAL  UNIT OF       YEAR          YEAR
    LOAN #         COUNTY    PROPERTY TYPE          SUBTYPE                (Y/N)      SF/UNITS  MEASURE      BUILT        RENOVATED
- ------------------------------------------------------------------------------------------------------------------------------------

          2400  Various      Manufactured Housing   RV Park                  No          2,087  Pads        Various        Various
          2400  Saratoga     Manufactured Housing   RV Park                                500  Pads          1978          2003
          2400  Oswego       Manufactured Housing   RV Park                              1,400  Pads          1965
          2400  Merrimack    Manufactured Housing   RV Park                                187  Pads          1960          2003
          2716  Monterey     Multifamily            Garden                                  58  Units         1956
          2716  Monterey     Multifamily            Garden                                  30  Units         1972          2000
          2716  Monterey     Multifamily            Garden                                  40  Units         1973
          2716  Monterey     Multifamily            Garden                                  30  Units         1973
          2716  Monterey     Multifamily            Garden                                  24  Units         1979
          2716  Monterey     Multifamily            Garden                                   8  Units         1975
          2716  Monterey     Multifamily            Garden                                   8  Units         1975
          2716  Monterey     Multifamily            Garden                                   8  Units         1973
          2716  Monterey     Multifamily            Garden                                   4  Units         1971
          2716  Monterey     Multifamily            Garden                                   4  Units         1973
          2716  Monterey     Multifamily            Garden                                  79  Units         1979
     940951908  Travis       Multifamily            Garden                   No            460  Units         2004
     940951902  Hays         Multifamily            Student Housing          No            288  Units         2003
          2557  Clark        Multifamily            Garden                   No            256  Units         1998
   20058536001  Cleveland    Multifamily            Garden                   No            228  Units         1998
   20048509005  Orange       Multifamily            Garden                   No            296  Units         1973
   20058503201  Pima         Multifamily            Garden                   No            282  Units       Various        Various
20058503201.01  Pima         Multifamily            Garden                   No            138  Units         1990
20058503201.02  Pima         Multifamily            Garden                   No            144  Units         1985          2005
          2517  Kern         Manufactured Housing   Manufactured Housing     No            255  Pads          1978          2003
          2781  El Paso      Multifamily            Garden                   No            274  Units         1983          2003
          2785  El Paso      Multifamily            Garden                   No            240  Units         1984
       05-2042  Maricopa     Multifamily            Conventional             No            172  Units         1972          2005
          2541  Clark        Multifamily            Garden                   No            144  Units         1984
   20059225004  Greene       Multifamily            Garden                   No            122  Units         2005
   20059217001  Kenton       Multifamily            Garden                   No            132  Units         2002          2004
          2899  Los Angeles  Multifamily            Garden                   No             67  Units         1968
          2692  Brazoria     Multifamily            Garden                   No            216  Units         1983          2002
          2783  El Paso      Multifamily            Garden                   No            209  Units         1970          1977
          2049  Oklahoma     Multifamily            Garden                   No            224  Units         1974          2003
   20059225003  Christian    Multifamily            Garden                   No             70  Units         1997
       05-0206  Shelby       Multifamily            Conventional             No             98  Units         1963          2003
     940951888  Miller       Multifamily            Section 42               No             70  Units         2004
          2471  Cook         Multifamily            Garden                   No             40  Units         1925          2004
     940951837  Pennington   Multifamily            Garden                   No             48  Units         1998
     940951883  Brown        Multifamily            Garden                   No             64  Units      2003-2004
       05-2096  Shelby       Multifamily            Conventional             No            133  Units         1947          2002
   20059226001  Yellowstone  Manufactured Housing   Manufactured Housing     No            246  Pads          1975          1996
          2784  El Paso      Multifamily            Garden                   No             86  Units         1984
     940951886  Lauderdale   Multifamily            Section 42               No             64  Units         2004
     940951946  Faulkner     Multifamily            Student Housing          No             32  Units         2003
     940951745  Tulsa        Multifamily            Garden                   No             60  Units         2003
     940951836  Pennington   Multifamily            Garden                   No             48  Units         1995
          2782  El Paso      Multifamily            Garden                   No             64  Units         1969
     940951887  Union        Multifamily            Garden Apartments        No             19  Units         2003
          2786  El Paso      Multifamily            Garden                   No             48  Units         1982
</TABLE>


<TABLE>

                                         ENVIRONMENTAL                  ENVIRONMENTAL
                             OCCUPANCY      REPORT      ENVIRONMENTAL    INSURANCE       PHASE II       PHASE II      ENGINEERING
     LOAN #    OCCUPANCY (%)    DATE         TYPE        REPORT DATE       (Y/N)        RECOMMENDED     PERFORMED     REPORT DATE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400     100.0        5/1/2005   Phase I         5/5/2005          No             No              No           5/5/2005
          2400     100.0        5/1/2005   Phase I         5/5/2005          No             No              No           5/5/2005
          2400     100.0        5/1/2005   Phase I         5/5/2005          No             No              No           5/5/2005
          2400     100.0        5/1/2005   Phase I         5/5/2005          No             No              No           5/5/2005
          2716     94.8        4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     96.7        4/14/2005   Phase I         7/7/2005          No             No              No          6/29/2005
          2716     87.5        4/14/2005   Phase I         7/7/2005          No             No              No          6/29/2005
          2716     100.0       4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     95.8        4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     100.0       4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     100.0       4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     100.0       4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     100.0       4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     100.0       4/14/2005   Phase I         7/6/2005          No             No              No          6/29/2005
          2716     97.5        4/14/2005   Phase I         7/7/2005          No             No              No          6/29/2005
     940951908     93.3         6/1/2005   Phase I        6/20/2005          No             No              No          6/10/2005
     940951902     97.6        3/14/2005   Phase I        6/21/2005          No             No              No
          2557     96.9        5/10/2005   Phase I        6/28/2005          No             No              No          6/28/2005
   20058536001     62.3        7/19/2005   Phase I        5/26/2005          No             No              No           2/9/2005
   20048509005     95.9        6/13/2005   Phase I         5/5/2005          No             No              No           5/5/2005
   20058503201     97.5          Various   Phase I          Various          No             No              No            Various
20058503201.01     98.6        5/31/2005   Phase I        6/14/2005          No             No              No          6/10/2005
20058503201.02     96.5        5/10/2005   Phase I        6/29/2005          No             No              No          5/27/2005
          2517     100.0        5/1/2005   Phase I        5/25/2005          No             No              No          5/26/2005
          2781     94.5        5/25/2005   Phase I        5/24/2005          No             No              No          5/24/2005
          2785     96.7        5/25/2005   Phase I        5/24/2005          No             No              No          5/25/2005
       05-2042     93.0         4/1/2005   Phase I         5/3/2005         Yes             No              No           5/2/2005
          2541     95.8         4/1/2005   Phase I         5/5/2005          No             No              No           5/5/2005
   20059225004     81.1        7/19/2005   Phase I        5/27/2005          No             No              No          5/31/2005
   20059217001     93.2        5/10/2005   Phase I         6/6/2005          No             No              No           6/6/2005
          2899     100.0       5/25/2005   Phase I         6/6/2005          No             No              No           6/6/2005
          2692     90.7        6/21/2005   Phase I        6/15/2005          No             No              No          6/15/2005
          2783     94.7        5/25/2005   Phase I        5/24/2005          No             No              No          5/25/2005
          2049     90.2        3/31/2005   Phase I        4/22/2005          No             No              No           5/5/2005
   20059225003     90.0         5/1/2005   Phase I        5/13/2005          No             No              No          4/13/2005
       05-0206     100.0       3/28/2005   Phase I        4/26/2005                         No              No          4/26/2005
     940951888     91.7         7/1/2005                                     No             No              No           7/6/2005
          2471     100.0       4/28/2005   Phase I        4/28/2005          No             No              No          4/28/2005
     940951837     87.5        6/22/2005   Phase I         6/8/2005          No             No              No          5/27/2005
     940951883     100.0        5/1/2000                                     No             No              No
       05-2096     94.7         2/1/2005   Phase I        5/26/2005                         No              No          5/26/2005
   20059226001     94.7        4/15/2005   Phase I        4/15/2005          No             No              No          4/15/2005
          2784     97.7        5/25/2005   Phase I        5/24/2005          No             No              No          5/24/2005
     940951886     90.6         6/1/2005   Phase I                           No             No              No          7/11/2005
     940951946     100.0        7/1/2005                                    Yes             No              No           7/6/2005
     940951745     93.3        6/30/2005                                    Yes             No              No
     940951836     95.8        5/19/2005   Phase I        5/27/2005          No             No              No          5/27/2005
          2782     89.1        5/25/2005   Phase I        5/25/2005          No             No              No          5/24/2005
     940951887     100.0        1/1/2005                                     No             No              No          7/13/2005
          2786     93.8        5/25/2005   Phase I        5/24/2005          No             No              No          5/25/2005
</TABLE>



<TABLE>

                 SEISMIC     SEISMIC         PML      EARTHQUAKE     APPRAISED       APPRAISED    APPRAISAL    CUTOFF    MATURITY
     LOAN #       DATE         ZONE          (%)      INSURANCE        VALUE        CAPRATE (%)        DATE    LTV (%)    LTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------

          2400                                            No       56,200,000.00      Various       Various     73.8       62.5
          2400                                            No       20,110,000.00       7.00       5/10/2005
          2400                                            No       29,420,000.00       7.00       5/10/2005
          2400                                            No        6,670,000.00       7.00       5/10/2005
          2716  5/2/2005        4           12.00         No        6,800,000.00       5.50       4/14/2005
          2716  5/2/2005        4           19.00         No        3,800,000.00       5.50       4/14/2005
          2716  6/29/2005       4           11.00         No        4,400,000.00       5.50       4/14/2005
          2716  6/29/2005       4           15.00         No        3,400,000.00       5.50       4/15/2005
          2716  6/29/2005       4           14.00         No        3,500,000.00       5.50       4/14/2005
          2716  6/29/2005       4           14.00         No        1,500,000.00       4.00       4/14/2005
          2716  6/29/2005       4           14.00         No        1,500,000.00       4.00       4/14/2005
          2716  6/29/2005       4           11.00         No        1,400,000.00       4.00       4/14/2005
          2716  6/29/2005       4           14.00         No          800,000.00       4.09       4/14/2005
          2716  6/29/2005       4           11.00         No          800,000.00       3.55       4/14/2005
          2716  6/29/2005       4           15.00         No        8,700,000.00       5.50       4/14/2005
     940951908                                            No       42,000,000.00       9.00       5/31/2005     79.3       70.6
     940951902                                            No       26,700,000.00       7.50        4/5/2005     74.7       66.4
          2557                                            No       23,200,000.00       6.25        5/4/2005     69.8       64.5
   20058536001                                            No       18,100,000.00       7.25       1/29/2005     75.0       71.9
   20048509005                                            No       18,000,000.00       7.25       4/20/2005     77.7       64.1
   20058503201                                            No       13,200,000.00       7.25         Various     76.5       63.4
20058503201.01                                            No        7,100,000.00       7.25        6/8/2005
20058503201.02                                            No        6,100,000.00       7.25       5/24/2005
          2517                                            No       11,700,000.00       6.25       4/29/2005     79.9       73.8
          2781                                            No       11,000,000.00       6.75       5/12/2005     77.3       68.4
          2785                                            No        9,700,000.00       7.25       5/12/2005     79.4       70.3
       05-2042                                                      9,800,000.00       6.25        4/5/2005     77.6       74.2
          2541  5/5/2004     1/3/1900      13             No        9,000,000.00       7.25       4/26/2005     72.2       63.0
   20059225004                                            No        8,000,000.00       7.50        8/1/2005     78.0       64.8
   20059217001                                            No        7,600,000.00       7.50        6/8/2005     72.4       64.3
          2899  6/6/2005     1/4/1900      17             No        8,000,000.00       5.25       5/23/2005     66.2       54.6
          2692                                            No        6,100,000.00       8.50        6/8/2005     78.7       68.1
          2783                                            No        6,550,000.00       7.00       5/18/2005     69.5       61.5
          2049                                            No        5,100,000.00       7.00       4/15/2005     76.3       64.3
   20059225003                                            No        4,400,000.00       7.75       4/29/2005     74.9       62.3
       05-0206                                                      4,250,000.00       8.00        4/1/2005     72.7       61.6
     940951888                                            No        3,529,000.00       0.00       5/10/2005     85.0       62.2
          2471                                            No        4,000,000.00       5.75       4/18/2005     75.0       75.0
     940951837                                            No        3,510,000.00       7.50       5/18/2005     79.8       65.9
     940951883                                            No        3,400,000.00       7.00       6/14/2005     79.4       65.2
       05-2096                                                      3,200,000.00       8.50        4/1/2005     74.8       58.3
   20059226001                                            No        4,750,000.00       7.50       4/14/2005     48.3       41.1
          2784                                            No        3,000,000.00       7.25       5/13/2005     65.5       58.0
     940951886                                            No        1,941,000.00       0.00       5/10/2005     85.0       62.2
     940951946                                            No        2,063,000.00       0.00        6/8/2005     80.0       66.7
     940951745                                            No        2,725,000.00       8.00       5/23/2005     60.2       43.5
     940951836                                            No        2,590,000.00       7.75       5/18/2005     80.0       74.2
          2782                                            No        1,850,000.00       7.25       5/18/2005     71.8       53.8
     940951887                                            No        1,088,000.00       0.00       5/10/2005     84.4       61.8
          2786                                            No        1,620,000.00       7.50       5/16/2005     56.1       42.0
</TABLE>



<TABLE>

                                              CUTOFF         CUTOFF
                  ORIGINAL     ORIGINAL       BALANCE        BALANCE/         % OF       MATURITY        INTEREST    AMORTIZATION
     LOAN #        BALANCE     LOAN/UNIT    (8/1/2005)        UNIT            IPB        BALANCE         RATE (%)        TYPE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400  41,500,000.00  19,885.00   41,464,993.70   19,868.23                   35,126,592.70      5.9330      Balloon
          2400  14,603,302.00              14,590,983.75                               12,360,584.13
          2400  21,572,170.00              21,553,973.33                               18,259,200.70
          2400   5,324,528.00               5,320,036.63                                4,506,807.86
          2716   5,100,000.00               5,100,000.00                                4,464,921.60
          2716   2,590,000.00               2,590,000.00                                2,267,479.79
          2716   2,970,000.00               2,970,000.00                                2,600,160.23
          2716   1,953,000.00               1,953,000.00                                1,709,802.33
          2716   2,130,000.00               2,130,000.00                                1,864,761.38
          2716     560,000.00                 560,000.00                                  490,265.90
          2716     800,000.00                 800,000.00                                  700,379.86
          2716     505,000.00                 505,000.00                                  442,114.79
          2716     290,000.00                 290,000.00                                  253,887.70
          2716     279,000.00                 279,000.00                                  244,257.48
          2716   5,419,000.00               5,419,000.00                                4,744,198.07
     940951908  33,300,000.00  72,391.00   33,300,000.00   72,391.00           0       29,653,992.19      5.2800      IO-Balloon
     940951902  19,950,000.00  69,271.00   19,950,000.00   69,271.00           0       17,738,410.86      5.2100      IO-Balloon
          2557  16,200,000.00  63,281.25   16,200,000.00   63,281.25                   14,956,725.39      5.0700      IO-Balloon
   20058536001  14,570,000.00  63,903.51   14,570,000.00   63,903.51                   13,970,978.91      5.3750      IO-Balloon
   20048509005  14,000,000.00  47,297.30   13,985,297.14   47,247.63                   11,529,126.85      5.0500      Balloon
   20058503201  10,100,000.00  35,815.60   10,100,000.00   35,815.60                    8,374,697.56      5.2660      Balloon
20058503201.01   5,500,000.00  39,855.07    5,500,000.00   39,855.07                    4,560,478.87      5.2660      Balloon
20058503201.02   4,600,000.00  31,944.44    4,600,000.00   31,944.44                    3,814,218.69      5.2660      Balloon
          2517   9,350,000.00  36,666.67    9,350,000.00   36,666.67                    8,639,961.57      5.1300      IO-Balloon
          2781   8,500,000.00  31,021.90    8,500,000.00   31,021.90                    7,523,973.42      5.0000      IO-Balloon
          2785   7,700,000.00  32,083.33    7,700,000.00   32,083.33                    6,815,835.42      5.0000      IO-Balloon
       05-2042   7,600,000.00  44,186.05    7,600,000.00   44,186.05                    7,273,338.78      5.1463      IO-Balloon
          2541   6,500,000.00  45,138.89    6,500,000.00   45,138.89                    5,666,841.81      5.3000      IO-Balloon
   20059225004   6,240,000.00  51,147.54    6,240,000.00   51,147.54                    5,187,840.68      5.3500      Balloon
   20059217001   5,500,000.00  41,666.67    5,500,000.00   41,666.67                    4,890,236.56      5.2095      IO-Balloon
          2899   5,300,000.00  79,104.48    5,294,460.20   79,021.79                    4,367,434.30      5.0700      Balloon
          2692   4,800,000.00  22,222.22    4,800,000.00   22,222.22                    4,152,979.65      4.9950      IO-Balloon
          2783   4,550,000.00  21,770.33    4,550,000.00   21,770.33                    4,027,539.25      5.0000      IO-Balloon
          2049   3,900,000.00  17,410.71    3,892,359.42   17,376.60                    3,276,778.34      5.6900      Balloon
   20059225003   3,300,000.00  47,142.86    3,296,759.50   47,096.56                    2,742,083.04      5.3300      Balloon
       05-0206   3,100,000.00  31,632.65    3,091,437.94   31,545.29                    2,617,492.22      5.8500      Balloon
     940951888   3,000,000.00  42,857.00    3,000,000.00   42,857.00           0        2,196,654.78      6.0700      Balloon
          2471   3,000,000.00  75,000.00    3,000,000.00   75,000.00                    3,000,000.00      5.2500      Interest Only
     940951837   2,800,000.00  58,333.00    2,800,000.00   58,333.00           0        2,313,652.76      5.1600      Balloon
     940951883   2,700,000.00  42,187.50    2,700,000.00   42,188.00           0        2,218,224.72      4.9800      Balloon
       05-2096   2,400,000.00  18,045.11    2,393,568.21   17,996.75                    1,864,699.36      6.1000      Balloon
   20059226001   2,300,000.00   9,349.59    2,295,823.13    9,332.61                    1,952,364.67      6.0330      Balloon
          2784   1,965,000.00  22,848.84    1,965,000.00   22,848.84                    1,739,366.22      5.0000      IO-Balloon
     940951886   1,650,000.00  25,781.00    1,650,000.00   25,781.00           0        1,208,160.87      6.0700      Balloon
     940951946   1,650,000.00  51,563.00    1,650,000.00   51,563.00           0        1,375,661.57      5.4400      Balloon
     940951745   1,640,000.00  27,333.33    1,640,000.00   27,333.00           0        1,184,893.10      5.8000      Balloon
     940951836   1,500,000.00  31,250.00    1,500,000.00   31,250.00           0        1,391,901.27      5.4200      Balloon
          2782   1,330,000.00  20,781.25    1,327,951.34   20,749.24                      994,457.12      5.0000      Balloon
     940951887     918,000.00  48,315.79      918,000.00   48,316.00           0          672,175.04      6.0700      Balloon
          2786     910,000.00  18,958.33      908,598.29   18,929.13                      680,418.23      5.0000      Balloon
</TABLE>



<TABLE>

                                            IO MONTHLY     IO ANNUAL    MONTHLY      ANNUAL
                   ACCRUAL                     DEBT          DEBT       P&I DEBT     P&I DEBT       I/O                 REMAINING
     LOAN #         TYPE           PURPOSE    SERVICE       SERVICE     SERVICE      SERVICE       PERIOD      TERM       TERM
- ------------------------------------------------------------------------------------------------------------------------------------

          2400   Actual/360   Refinance                                247,028.65  2,964,343.80      0          120        119
          2400                                                                                                             119
          2400                                                                                                             119
          2400                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
          2716                                                                                                             119
     940951908   Actual/360   Acquisition   148,555.00   1,782,660.00  184,503.08  2,214,036.96     36          120        119
     940951902   Actual/360   Acquisition    87,819.25   1,053,831.04  109,670.89  1,316,050.68     36          120        120
          2557   Actual/360   Refinance      69,395.63     832,747.50   87,659.47  1,051,913.64     60          120        119
   20058536001   Actual/360   Acquisition    66,167.87     794,014.41   81,587.81    979,053.72     24           60         58
   20048509005   Actual/360   Refinance                                 75,583.42    907,001.04      0          120        119
   20058503201   Actual/360   Acquisition                               55,872.71    670,472.52      0          120        120
20058503201.01   Actual/360   Acquisition                               30,425.73    365,108.76      0          120        120
20058503201.02   Actual/360   Acquisition                               25,446.98    305,363.76      0          120        120
          2517   Actual/360   Refinance      40,526.41     486,316.88   50,938.30    611,259.60     60          120        118
          2781   Actual/360   Refinance      35,908.57     430,902.78   45,629.84    547,558.08     36          120        119
          2785   Actual/360   Refinance      32,528.94     390,347.22   41,335.26    496,023.12     36          120        119
       05-2042   Actual/360   Acquisition    33,045.92     396,551.01   41,480.67    497,768.04     24           60         58
          2541   Actual/360   Refinance      29,107.06     349,284.72   36,094.80    433,137.60     24          120        118
   20059225004   Actual/360   Refinance                                 34,845.01    418,140.12      0          120        120
   20059217001   Actual/360   Refinance      24,208.50     290,501.98   30,233.38    362,800.56     36          120        120
          2899   Actual/360   Refinance                                 28,678.72    344,144.64      0          120        119
          2692   Actual/360   Refinance      20,257.50     243,090.00   25,752.77    309,033.24     24          120        120
          2783   Actual/360   Refinance      19,221.64     230,659.72   24,425.38    293,104.56     36          120        119
          2049   Actual/360   Refinance                                 22,610.91    271,330.92      0          120        118
   20059225003   Actual/360   Refinance                                 18,386.58    220,638.96      0          120        119
       05-0206   Actual/360   Acquisition                               18,288.17    219,458.04      0          120        117
     940951888   Actual/360   Refinance                                 18,121.75    217,461.00      0          180        180
          2471   Actual/360   Refinance      13,307.29     159,687.50                               60           60         58
     940951837   Actual/360   Refinance      12,207.22                  15,305.99    183,671.88      1          121        121
     940951883   Actual/360   Construction                              14,461.20    173,534.40      0          120        120
       05-2096   Actual/360   Refinance                                 15,610.27    187,323.24      0          120        118
   20059226001   Actual/360   Refinance                                 13,838.50    166,062.00      0          120        118
          2784   Actual/360   Refinance       8,301.22      99,614.58   10,548.54    126,582.48     36          120        119
     940951886   Actual/360   Refinance                                  9,966.96    119,603.52      0          180        180
     940951946   Actual/360   Construction                               9,306.50    111,678.00      0          120        120
     940951745   Actual/360   Construction                               9,622.75    115,473.00      0          180        180
     940951836   Actual/360   Refinance       6,869.10                   8,441.70    101,300.40      1           61         61
          2782   Actual/360   Refinance                                  7,775.05     93,300.60      0          120        119
     940951887   Actual/360   Refinance                                  5,545.26     66,543.12      0          180        180
          2786   Actual/360   Refinance                                  5,319.77     63,837.24      0          120        119
</TABLE>



<TABLE>

                            REMAINING                                                               FIRST                MATURITY/
                 AMORT        AMORT                              PAYMENT   GRACE        NOTE       PAYMENT      ARD         ARD
     LOAN #      TERM         TERM      SEASONING   CUTOFF DATE    DATE    PERIOD       DATE         DATE      (Y/N)       DATE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400    360          359          1        8/8/2005       8        0       6/10/2005     8/8/2005   No         7/8/2015
          2400                              1                                                                 No
          2400                              1                                                                 No
          2400                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
          2716                              1                                                                 No
     940951908    360          360          1        8/1/2005       1        5       6/28/2005     8/1/2005   No         7/1/2015
     940951902    360          360          0        8/1/2005       1        5       7/31/2005     9/1/2005   No         8/1/2015
          2557    360          360          1        8/8/2005       8        0       6/15/2005     8/8/2005   No         7/8/2015
   20058536001    360          360          2        8/1/2005       1        5       5/27/2005     7/1/2005   No         6/1/2010
   20048509005    360          359          1        8/1/2005       1        5       6/30/2005     8/1/2005   No         7/1/2015
   20058503201    360          360          0        8/1/2005       1        0                     9/1/2005   No         8/1/2015
20058503201.01    360          360          0        8/1/2005       1        0                     9/1/2005   No         8/1/2015
20058503201.02    360          360          0        8/1/2005       1        0                     9/1/2005   No         8/1/2015
          2517    360          360          2        8/8/2005       8        0        6/7/2005     7/8/2005   No         6/8/2015
          2781    360          360          1        8/8/2005       8        0       6/27/2005     8/8/2005   No         7/8/2015
          2785    360          360          1        8/8/2005       8        0       6/27/2005     8/8/2005   No         7/8/2015
       05-2042    360          360          2        8/5/2005       5        0       5/27/2005     7/5/2005   No         6/5/2010
          2541    360          360          2        8/8/2005       8        0       5/27/2005     7/8/2005   No         6/8/2015
   20059225004    360          360          0        8/1/2005       1        0        7/1/2005     9/1/2005   No         8/1/2015
   20059217001    360          360          0        8/1/2005       1        5       7/14/2005     9/1/2005   No         8/1/2015
          2899    360          359          1        8/8/2005       8        0       6/16/2005     8/8/2005   No         7/8/2015
          2692    360          360          0        8/8/2005       8        0       7/13/2005     9/8/2005   No         8/8/2015
          2783    360          360          1        8/8/2005       8        0       6/27/2005     8/8/2005   No         7/8/2015
          2049    360          358          2        8/8/2005       8        0       5/12/2005     7/8/2005   No         6/8/2015
   20059225003    360          359          1        8/1/2005       1        5       6/21/2005     8/1/2005   No         7/1/2015
       05-0206    360          357          3        8/5/2005       5        0        5/5/2005     6/5/2005   No         5/5/2015
     940951888    360          360          0        8/1/2005       1        5       7/31/2005     9/1/2005   No         8/1/2020
          2471     0            0           2        8/8/2005       8        0       5/27/2005     7/8/2005   No         6/8/2010
     940951837    360          360          0        8/1/2005       1        5       8/15/2005     9/1/2005   No         9/1/2015
     940951883    360          360          0        8/1/2005       1        5       7/15/2005     9/1/2005   No         8/1/2015
       05-2096    300          298          2        8/5/2005       5        0       5/16/2005     7/5/2005   No         6/5/2015
   20059226001    360          358          2        8/1/2005       1        0       5/27/2005     7/1/2005   No         6/1/2015
          2784    360          360          1        8/8/2005       8        0       6/27/2005     8/8/2005   No         7/8/2015
     940951886    360          360          0        8/1/2005       1        5       7/31/2005     9/1/2005   No         8/1/2020
     940951946    360          360          0        8/1/2005       1        5       7/31/2005     9/1/2005   No         8/1/2015
     940951745    360          360          0        8/1/2005       1        5       7/15/2005     9/1/2005   No         8/1/2020
     940951836    360          360          0        8/1/2005       1        5       8/15/2005     9/1/2005   No         9/1/2010
          2782    300          299          1        8/8/2005       8        0       6/27/2005     8/8/2005   No         7/8/2015
     940951887    360          360          0        8/1/2005       1        5       7/31/2005     9/1/2005   No         8/1/2020
          2786    300          299          1        8/8/2005       8        0       6/27/2005     8/8/2005   No         7/8/2015
</TABLE>



<TABLE>

                                                                       MOST
                   FINAL        ARD          2003        2004        RECENT                   UW          UW        UW
     LOAN #      MAT DATE   STEP UP (%)       NOI         NOI           NOI     AS OF        NOI         NCF       DSCR     HOLDBACK
- ------------------------------------------------------------------------------------------------------------------------------------

          2400                            564,120   3,773,568     4,239,169   4/30/2005   3,844,374   3,740,024    1.26   No
          2400                            564,120   1,275,591     1,460,666   4/30/2005   1,363,073   1,338,073
          2400                                      1,996,067     2,213,325   4/30/2005   1,966,291   1,896,291
          2400                                        501,910       565,178   4/30/2005     515,010     505,660
          2716                            444,112     439,717       454,294   3/31/2005     457,253     440,698
          2716                            235,369     209,514       214,982   3/31/2005     221,862     214,362
          2716                            249,543     277,084       270,774   3/31/2005     266,854     255,095
          2716                            220,468     180,225       178,377   3/31/2005     181,557     173,200
          2716                            202,012     197,453       188,328   3/31/2005     184,147     178,147
          2716                             60,783      58,452        47,032   3/31/2005      47,677      45,677
          2716                             58,975      68,686        71,065   3/31/2005      69,584      67,584
          2716                             47,541      39,121        44,461   3/31/2005      44,737      42,737
          2716                             26,427      27,520        26,298   3/31/2005      24,822      23,614
          2716                             33,088      25,394        26,404   3/31/2005      24,720      23,550
          2716                            559,199     433,371       470,340   3/31/2005     464,607     442,079
     940951908                                        574,106     3,659,447   4/30/2005   2,742,627   2,742,626    1.24   No
     940951902                                      2,016,048     4,284,024   2/28/2005   2,007,781   1,921,381    1.46   No
          2557                          1,189,067   1,302,463     1,303,514   4/30/2005   1,403,653   1,339,653    1.27   No
   20058536001                          1,245,453   1,056,813                             1,169,110   1,112,110    1.22   Yes
   20048509005                          1,274,252   1,178,481     1,288,391   5/31/2005   1,391,940   1,317,940    1.45   No
   20058503201                            867,568     827,966       864,485      38,503     919,503     839,422    1.25   No
20058503201.01                            458,524     461,570       458,955   5/31/2005     499,061     458,287           No
20058503201.02                            409,044     366,396       405,531   5/31/2005     420,442     381,134           No
          2517                            814,081     818,093       838,450   4/30/2005     813,490     800,740    1.31   No
          2781                                        725,902       721,782   5/31/2005     732,658     664,158    1.21   No
          2785                            426,378                   687,839   5/31/2005     753,962     693,962    1.40   No
       05-2042   6/5/2010                 485,466     536,362       557,161   3/31/2005     653,858     610,858    1.23   No
          2541                                        588,951       557,858   4/30/2005     648,880     612,880    1.41   No
   20059225004                                                      472,900   6/14/2005     480,312     455,912    1.21   Yes
   20059217001                            525,919     578,632       621,813   4/30/2005     538,780     505,780    1.39   No
          2899                            400,971     415,796       423,156   4/30/2005     455,840     439,090    1.28   No
          2692                            300,565     402,147       499,302   6/20/2005     453,767     399,767    1.29   No
          2783                                        408,826       383,931   5/31/2005     419,382     363,803    1.24   No
          2049                            339,017     376,320       380,402   3/31/2005     412,830     356,830    1.32   No
   20059225003                            323,973     321,452       300,759   4/30/2005     310,623     283,603    1.29   No
       05-0206   5/5/2015                 -35,684     133,848                               310,884     285,884    1.30   No
     940951888                                         22,133       173,124   5/31/2005     283,949     283,949    1.31   No
          2471                            182,123     222,652       231,889   3/31/2005     251,660     240,900    1.51   No
     940951837                            279,525     273,899       275,559   3/31/2005     245,645     245,646    1.34   No
     940951883                                        133,987       237,065   4/30/2005     218,590     218,590    1.26   No
       05-2096   6/5/2015                  93,834     181,354       160,653   2/28/2005     254,445     221,195    1.18   No
   20059226001                            383,119     363,118       346,164    4/1/2005     315,536     303,236    1.83   No
          2784                                        268,230       193,033   5/31/2005     217,399     188,653    1.49   No
     940951886                                        103,367        82,252   5/31/2005     162,599     162,599    1.36   No
     940951946                                        156,636       157,550   5/31/2005     181,816     181,816    1.63   No
     940951745                                        114,577       141,702   5/31/2005     160,292     160,292    1.39   No
     940951836                            192,093     176,458       173,016   3/31/2005     175,523     175,523    1.73   No
          2782                            105,831     111,760       120,444   5/31/2005     132,425     112,509    1.21   No
     940951887                                         25,175        71,220   5/31/2005      76,571      76,571    1.15   No
          2786                            156,499     112,974       113,575   5/31/2005      91,547      77,011    1.21   No
</TABLE>



<TABLE>


                 HOLDBACK                                     HOLDBACK                                                  DEFEASANCE
     LOAN #         AMT                                         DESC.                                                    ALLOWED
- ------------------------------------------------------------------------------------------------------------------------------------

          2400                                                                                                             Yes
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908                                                                                                             No
     940951902                                                                                                             Yes
          2557                                                                                                             Yes
   20058536001    995,000   Release prior to June 1, 2007 upon satisfaction of the following: (i) no event of default,     Yes
                            (ii) DSCR >= 1.20, as calculated based on a 30-yr amort, and (iii) DSCR >= 0.81, as
                            calculated based on a 9.66% debt constant.
   20048509005                                                                                                             Yes
   20058503201                                                                                                             Yes
20058503201.01                                                                                                             Yes
20058503201.02                                                                                                             Yes
          2517                                                                                                             No
          2781                                                                                                             Yes
          2785                                                                                                             Yes
       05-2042                                                                                                             Yes
          2541                                                                                                             Yes
   20059225004    200,000   Release upon satisfaction of the following: (i) no event of default, (ii) DSCR >= 1.20x,       Yes
                            and (iii) no less than 104 units at the property are physically occupied.
   20059217001                                                                                                             Yes
          2899                                                                                                             Yes
          2692                                                                                                             Yes
          2783                                                                                                             Yes
          2049                                                                                                             Yes
   20059225003                                                                                                             Yes
       05-0206                                                                                                             Yes
     940951888                                                                                                             Yes
          2471                                                                                                             Yes
     940951837                                                                                                             No
     940951883                                                                                                             Yes
       05-2096                                                                                                             Yes
   20059226001                                                                                                             Yes
          2784                                                                                                             Yes
     940951886                                                                                                             Yes
     940951946                                                                                                             Yes
     940951745                                                                                                             Yes
     940951836                                                                                                             No
          2782                                                                                                             Yes
     940951887                                                                                                             Yes
          2786                                                                                                             Yes
</TABLE>



<TABLE>

                 LOCKOUT                                                                                              CALL
                   END                                     DEFEASANCE                                              PROTECTION
     LOAN #        DATE                                     SUMMARY                                                DESCRIPTION
- ------------------------------------------------------------------------------------------------------------------------------------

          2400   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908  6/30/2008                                                                                          Yield Maintenance
     940951902  8/31/2008   The later of (2) years from securitization or (3) years from the first payment date.   Defeasance
          2557   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
   20058536001  8/31/2007   Earlier of (4) years from the note date or (2) years from first securitization.        Defeasance
   20048509005  8/31/2007   Earlier of (4) years from the closing date or (2) years from first securitization.     Defeasance
   20058503201  8/31/2007   Earlier of (4) years from the closing date or (2) years from first securitization.     Defeasance
20058503201.01  8/31/2007   Earlier of (4) years from the closing date or (2) years from first securitization.     Defeasance
20058503201.02  8/31/2007   Earlier of (4) years from the closing date or (2) years from first securitization.     Defeasance
          2517   7/7/2010                                                                                          Yield Maintenance
          2781   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
          2785   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
       05-2042   9/4/2007   Earlier to occur of 24 months from securitization or 3 years from note date.           Defeasance
          2541   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
   20059225004  8/31/2007   Earlier of (4) years from the closing date or (2) years from first securitization.     Defeasance
   20059217001  8/31/2007   Earlier of (4) years from the note date or (2) years from first securitization.        Defeasance
          2899   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
          2692   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
          2783   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
          2049   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
   20059225003  8/31/2007   Earlier of (4) years from the note date or (2) years from first securitization.        Defeasance
       05-0206   9/4/2007   Earlier to occur of 24 months from securitization or 4 years from note date.           Defeasance
     940951888  8/31/2008   The later of (2) years from securitization or (3) years from the first payment date.   Defeasance
          2471   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
     940951837  9/30/2008                                                                                          Yield Maintenance
     940951883  8/31/2008   The later of (2) years from securitization or (3) years from the first payment date.   Defeasance
       05-2096   9/4/2007   Earlier to occur of 24 months from securitization or 4 years from note date.           Defeasance
   20059226001  8/31/2007   Earlier of (4) years from the closing date or (2) years from first securitization.     Defeasance
          2784   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
     940951886  8/31/2008   The later of (2) years from securitization or (3) years from the first payment date.   Defeasance
     940951946  8/31/2008   The later of (2) years from securitization or (3) years from the first payment date.   Defeasance
     940951745  8/31/2008   The later of (2) years from securitization or (3) years from the first payment date.   Defeasance
     940951836  9/30/2008                                                                                          Yield Maintenance
          2782   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
     940951887  8/31/2008   The later of (2) years from securitization or (3) years from the first payment date.   Defeasance
          2786   9/7/2007   Earlier of (3) years from the note date or (2) years from first securitization.        Defeasance
</TABLE>



<TABLE>


                   YIELD      YIELD                       YIELD                                                       REMAINING
                  MAINT.      MAINT.                      MAINT.                           LOCKOUT      DEFEASANCE    DEFEASANCE
     LOAN #      END DATE    ALLOWED                    PROVISION                         REMAINING      END DATE      PAYMENTS
- ------------------------------------------------------------------------------------------------------------------------------------

          2400               No                                                              24          4/7/2015         91
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908   3/31/2015   Yes      Greater of 1% outstanding principal balance or YM      34
     940951902               No                                                              36          4/30/2015        80
          2557               No                                                              24          4/7/2015         91
   20058536001               No                                                              24          2/28/2010        30
   20048509005               No                                                              24          4/30/2015        93
   20058503201               No                                                              24          5/31/2015        93
20058503201.01               No                                                              24          5/31/2015        93
20058503201.02               No                                                              24          5/31/2015        93
          2517   3/7/2015    Yes      Greater of 1% outstanding principal balance or YM      58
          2781               No                                                              24          4/7/2015         91
          2785               No                                                              24          4/7/2015         91
       05-2042      NAP      No                              NAP                             24          4/4/2010         31
          2541               No                                                              24          3/7/2015         90
   20059225004               No                                                              24          5/31/2015        93
   20059217001               No                                                              24          4/30/2015        92
          2899               No                                                              24          4/7/2015         91
          2692               No                                                              24          5/7/2015         92
          2783               No                                                              24          4/7/2015         91
          2049               No                                                              24          3/7/2015         90
   20059225003               No                                                              24          3/31/2015        91
       05-0206      NAP      No                              NAP                             24          3/4/2015         90
     940951888               No                                                              36          4/30/2020        140
          2471               No                                                              24          3/7/2010         30
     940951837   5/31/2015   Yes      Greater of 1% outstanding principal balance or YM      37
     940951883               No                                                              36          4/30/2015        80
       05-2096      NAP      No                              NAP                             24          4/4/2015         91
   20059226001               No                                                              24          3/31/2015        91
          2784               No                                                              24          4/7/2015         91
     940951886               No                                                              36          4/30/2020        140
     940951946               No                                                              36          4/30/2015        80
     940951745               No                                                              36          4/30/2020        140
     940951836   5/31/2010   Yes      Greater of 1% outstanding principal balance or YM      37
          2782               No                                                              24          4/7/2015         91
     940951887               No                                                              36          4/30/2020        140
          2786               No                                                              24          4/7/2015         91
</TABLE>



<TABLE>

                   REMAINING
                     YIELD                                                      UPFRONT         UPFRONT       UPFRONT      UPFRONT
                  MAINTENANCE          OPEN                                       ENG.           CAPEX         ENVIR.       TI/LC
     LOAN #         PAYMENTS         PAYMENTS                 STRING            RESERVE         RESERVES      RESERVE      RESERVE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400                          4        LO(24),Def(91),O(4)          1,405,471.05    104,350.00
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908         81               4        LO(34),GRTR1%orYM(81),O(4)     500,000.00
     940951902                          4        LO(36),Def(80),O(4)
          2557                          4        LO(24),Def(91),O(4)
   20058536001                          4        LO(24),Def(30),O(4)
   20048509005                          3        LO(24),Def(92),O(3)
   20058503201                          3        LO(24),Def(93),O(3)
20058503201.01                          3        LO(24),Def(93),O(3)
20058503201.02                          3        LO(24),Def(93),O(3)
          2517         56               4        LO(58),GRTR1%orYM(56),O(4)       23,375.00
          2781                          4        LO(24),Def(91),O(4)              11,562.50
          2785                          4        LO(24),Def(91),O(4)
       05-2042         0                3        LO(24),Def(31),O(3)              12,500.00            -            -            -
          2541                          4        LO(24),Def(90),O(4)             133,750.00
   20059225004                          3        LO(24),Def(93),O(3)                           30,000.00
   20059217001                          4        LO(24),Def(92),O(4)
          2899                          4        LO(24),Def(91),O(4)
          2692                          4        LO(24),Def(92),O(4)              16,250.00
          2783                          4        LO(24),Def(91),O(4)             112,373.75
          2049                          4        LO(24),Def(90),O(4)               6,650.00
   20059225003                          4        LO(24),Def(91),O(4)
       05-0206         0                3        LO(24),Def(90),O(3)                      -            -       625.00            -
     940951888                          4        LO(36),Def(140),O(4)
          2471                          4        LO(24),Def(30),O(4)
     940951837         80               4        LO(37),GRTR1%orYM(80),O(4)
     940951883                          4        LO(36),Def(80),O(4)
       05-2096         0                3        LO(24),Def(91),O(3)              42,125.00            -     1,875.00            -
   20059226001                          3        LO(24),Def(91),O(3)
          2784                          4        LO(24),Def(91),O(4)
     940951886                          4        LO(36),Def(140),O(4)
     940951946                          4        LO(36),Def(80),O(4)
     940951745                          4        LO(36),Def(140),O(4)
     940951836         20               4        LO(37),GRTR1%orYM(20),O(4)
          2782                          4        LO(24),Def(91),O(4)               6,562.50
     940951887                          4        LO(36),Def(140),O(4)
          2786                          4        LO(24),Def(91),O(4)
</TABLE>




<TABLE>

                  UPFRONT     UPFRONT     UPFRONT                            UPFRONT                               MONTHLY
                  RE TAX     INSURANCE     OTHER                              OTHER                                 CAPEX
     LOAN #       RESERVE     RESERVE     RESERVE                          DESCRIPTION                             RESERVE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400  210,682.03    62,389.16  4,777,770.70       6 months seasonality reserve (Debt Service);
                                                                    1 year debt service reserve;
                                                                      Paydown of Trailer Liens
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908                           1,500,000.00                 Operating Income reserve                    9,583.33
     940951902                                                                                                    7,200.00
          2557   70,077.13                                                                                        4,266.67
   20058536001   47,752.88    15,118.69                                                                           4,750.00
   20048509005  131,999.99     5,586.79                                                                           6,167.00
   20058503201
20058503201.01                                                                                                    3,000.00
20058503201.02                                                                                                    3,000.00
          2517   36,448.80    12,777.60                                                                           1,062.50
          2781   14,460.16                                                                                        5,708.33
          2785   12,478.38     6,000.00                                                                           5,000.00
       05-2042   28,552.00     2,500.00             -                                                             3,583.33
          2541   29,497.89    13,171.56                                                                           3,000.00
   20059225004   35,000.00     4,817.58
   20059217001   52,373.27    15,484.62                                                                           2,750.00
          2899   16,471.00    11,821.00
          2692                                                                                                    4,500.00
          2783    7,403.03    26,500.00                                                                           4,354.17
          2049   12,825.00    35,160.00                                                                           4,667.00
   20059225003   34,035.40     2,592.63                                                                           1,750.00
       05-0206    1,112.92    20,000.00             -                                                             2,083.33
     940951888                                                                                                    1,750.00
          2471    8,699.95     5,340.04                                                                             895.28
     940951837                                                                                                    1,000.00
     940951883                                                                                                    1,333.00
       05-2096   10,738.50            -             -                                                             2,770.83
   20059226001    8,552.53     3,076.03                                                                           1,059.00
          2784    5,326.13    18,000.00                                                                           1,791.67
     940951886                                                                                                    1,333.00
     940951946                                                                                                      800.00
     940951745                                                                                                    1,250.00
     940951836                                                                                                    1,000.00
          2782    2,743.49     1,600.00                                                                           1,333.33
     940951887                                                                                                      396.00
          2786    2,286.64     5,000.00                                                                           1,000.00
</TABLE>



<TABLE>

                MONTHLY   MONTHLY     MONTHLY      MONTHLY     MONTHLY       OTHER
                 ENVIR.    TI/LC      RE TAX      INSURANCE     OTHER        MONTH         SINGLE      LETTER     DESCRIPTION
     LOAN #     RESERVE   RESERVE     RESERVE      RESERVE     RESERVE    DESCRIPTION      TENANT     OF CREDIT     OF LOC
- ------------------------------------------------------------------------------------------------------------------------------------

          2400                                                                            No          No
          2400                                                                            No
          2400                                                                            No
          2400                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
          2716                                                                            No
     940951908                       77,197.08     9,719.17                               No          No
     940951902                       48,911.00     9,000.00                               No          No
          2557                       14,015.43     3,133.90                               No          No
   20058536001                        9,550.58     5,039.56                               No          No
   20048509005                       16,500.00     1,862.26                               No          No
   20058503201                                                                            No          No
20058503201.01                        5,583.33     1,166.67                               No          No
20058503201.02                        4,666.67     1,333.33                               No          No
          2517                        9,112.20     1,064.80                               No          No
          2781                       14,460.16     4,072.20                               No          No
          2785                       12,478.38     4,603.49                               No          No
       05-2042       -         -      5,710.33     2,500.00          -                    No          No
          2541                        9,832.63     2,634.31                               No          No
   20059225004                        5,000.00     2,408.79                               No          Yes             425,000
   20059217001                        5,237.33     5,161.54                               No          No
          2899                        4,118.00     2,955.00                               No          No
          2692                        1,416.25     5,400.00                               No          No
          2783                        7,403.03     4,108.00                               No          No
          2049                        4,275.00     4,395.00                               No          No
   20059225003                        3,781.71     1,296.31                               No          No
       05-0206       -         -        370.97     1,798.23          -                    No          No
     940951888                        1,750.00     1,272.00                               No          No
          2471                        2,174.99     1,780.01                               No          No
     940951837                        3,626.00       523.00                               No          No
     940951883                        4,167.00       533.00                              N/A          No
       05-2096       -         -      3,579.50            -          -                    No          No
   20059226001                        4,276.27     1,538.02                               No          No
          2784                        5,326.13     4,108.57                               No          No
     940951886                                                                            No          No
     940951946                          800.00       607.00                               No          No
     940951745                        3,500.00     1,200.00                               No          No
     940951836                        3,233.00       681.00                               No          No
          2782                        2,743.49     1,180.25                               No          No
     940951887                          750.00       411.00                              N/A          No
          2786                        2,286.64       800.00                               No          No
</TABLE>


<TABLE>

                                                2ND                            3RD
                  LARGEST   UNIT        LEASE   LARGEST   UNIT        LEASE    LARGEST   UNIT        LEASE     LIEN      TITLE
     LOAN #       TENANT    SIZE   EXPIRATION   TENANT    SIZE   EXPIRATION    TENANT    SIZE   EXPIRATION   POSITION    TYPE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400                                                                                                 First      Fee
          2400                                                                                                 First      Fee
          2400                                                                                                 First      Fee
          2400                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
          2716                                                                                                 First      Fee
     940951908                                                                                                 First      Fee
     940951902                                                                                                 First      Fee
          2557                                                                                                 First      Fee
   20058536001                                                                                                 First      Fee
   20048509005                                                                                                 First      Fee
   20058503201                                                                                                 First      Fee
20058503201.01                                                                                                 First      Fee
20058503201.02                                                                                                 First      Fee
          2517                                                                                                 First      Fee
          2781                                                                                                 First      Fee
          2785                                                                                                 First      Fee
       05-2042                                                                                                 First      Fee Simple
          2541                                                                                                 First      Fee
   20059225004                                                                                                 First      Fee
   20059217001                                                                                                 First      Fee
          2899                                                                                                 First      Fee
          2692                                                                                                 First      Fee
          2783                                                                                                 First      Fee
          2049                                                                                                 First      Fee
   20059225003                                                                                                 First      Fee
       05-0206                                                                                                 First      Fee Simple
     940951888                                                                                                 First      Fee
          2471                                                                                                 First      Fee
     940951837                                                                                                 First      Fee
     940951883                                                                                                 First      Fee
       05-2096                                                                                                 First      Fee Simple
   20059226001                                                                                                 First      Fee
          2784                                                                                                 First      Fee
     940951886                                                                                                 First      Fee
     940951946                                                                                                 First      Fee
     940951745                                                                                                 First      Fee
     940951836                                                                                                 First      Fee
          2782                                                                                                 First      Fee
     940951887                                                                                                 First      Fee
          2786                                                                                                 First      Fee
</TABLE>


<TABLE>

                                                                              PARTIAL
                  CONDO     OUTPARCEL                             RELEASE    DEFEASANCE  SUBSTITUTUION
                STRUCTURE    RELEASE        SPE       CROSSED   PROVISIONS   PERMITTED     PROVISIONS          RELATED
     LOAN #       (Y/N)       (Y/N)        (Y/N)       LOAN        (Y/N)       (Y/N)         (Y/N)            BORROWER
- ------------------------------------------------------------------------------------------------------------------------------------

          2400     No          No           Yes         No          No          Yes            No
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908     No          No           Yes         No          No          No             No
     940951902     No          No           Yes         No          No          No             No
          2557     No          No           Yes         No          No          No             No
   20058536001     No          No           Yes         No          No          No             No
   20048509005     No          No           Yes         No          No          No             No
   20058503201     No          No           Yes         No          No          No             No
20058503201.01
20058503201.02
          2517     No          No           Yes         No          No          No             No
          2781     No          No           Yes         No          No          No             No             Yes (1)
          2785     No          No           Yes         No          No          No             No             Yes (1)
       05-2042     No          No           Yes         No          No          Yes            No
          2541     No          No           Yes         No          No          No             No
   20059225004     No          No           Yes         No          No          No             No
   20059217001     No          No           Yes         No          No          No             No
          2899     No          No           Yes         No          No          No             No
          2692     No          No           Yes         No          No          No             No
          2783     No          No           Yes         No          No          No             No             Yes (1)
          2049     No          No           Yes         No          No          No             No
   20059225003     No          No           Yes         No          No          No             No
       05-0206     No          No           Yes         No          No          Yes            No
     940951888     No          No           Yes         No          No          No             No
          2471     No          No           Yes         No          No          No             No
     940951837     No          No           Yes         No          No          No             No
     940951883     No          No           Yes         No          No          No             No
       05-2096     No          No           Yes         No          No          Yes            No
   20059226001     No          No           Yes         No          No          No             No
          2784     No          No           Yes         No          No          No             No             Yes (1)
     940951886     No          No           Yes         No          No          No             No
     940951946     No          No           Yes         No          No          No             No
     940951745     No          No           Yes         No          No          No             No
     940951836     No          No           Yes         No          No          No             No
          2782     No          No           Yes         No          No          No             No             Yes (1)
     940951887     No          No           Yes         No          No          No             No
          2786     No          No           Yes         No          No          No             No             Yes (1)
</TABLE>


<TABLE>

     LOAN #      BORROWER NAME
- ------------------------------------------------------------------------------------------------------------------------------------

          2400   Alpine Lake RV Resort, LLC;  Brennan RV Resort, LLC;  Sandy Beach RV Resort, LLC
          2400   Alpine Lake RV Resort, LLC
          2400   Brennan RV Resort, LLC
          2400   Sandy Beach RV Resort, LLC
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908   MBS-Walnut Creek, Ltd.
     940951902   University Heights San Marcos TIC et al
          2557   La Fiesta Apartment Homes, LLC
   20058536001   Renaissance at Norman Apartments I, LLC, Renaissance at Norman Apartments II, LLC, Renaissance at Norman Apartments
                 III, LLC, Renaissance at Norman Apartments IV, LLC, Renaissance at Norman Apartments V, LLC, Renaissance at Norman
                 Apartments VI, LLC, Renaissance at Norman Apartments VI-A LLC, Renaissance at Norman Apartments VII, LLC,
                 Renaissance at Norman Apartments VII-A, LLC, Renaissance at Norman Apartments VIII, LLC, Renaissance at Norman
                 Apartments IX, LLC, Renaissance at Norman Apartments X, LLC, Renaissance at Norman Apartments XI, LLC, Renaissance
                 at Norman Apartments, XII, LLC, Renaissance at Norman Apartments XIII, LLC, Renaissance at Norman Apartments XIV,
                 LLC, Renaissance at Norman Apartments XV, LLC, Renaissance at Norman Apartments XVI, LLC, Renaissance at Norman
                 Apartments XVII, LLC and Renaissance at Norman Apartments XVIII, LLC 20048509005 Coconut Palms Apartments, Inc.
   20058503201   To be formed SPE
20058503201.01
20058503201.02
          2517   Kern Canyon Estates, L.P.
          2781   EPT Dos Santos Apartments, LP
          2785   EPT Valley Ridge Apartments, LP
       05-2042   BNB Partners, LLC 2541 Nobl Park, L.L.C.
   20059225004   Autumnview Properties, LLC
   20059217001   Oxford Hills Apartments, LLC
          2899   Frandson Casa Real LLC; Mandella Casa Real LLC
          2692   Juniper Lakeview, Ltd.
          2783   EPT Santa Fe Village Apartments, LP
          2049   Virtu Candlestick Associates, L.L.C.
   20059225003   Park Place Vintage Park, L.L.C.
       05-0206   I and U Management, LLC
     940951888   Texarkana Housing Associates II Limited Partnership
          2471   6565 North Lakewood, LLC
     940951837   Vista Pointe, LLC
     940951883   TD Brice, LLC
       05-2096   Harris Properties, Inc
   20059226001   Reynolds Family, LLC
          2784   EPT Trevino Place Apartments, LP
     940951886   Ripley Housing Associated, LP
     940951946   Chapel Ridge of Conway II, LLC
     940951745   Edgewood at the Gables, LP
     940951836   Minnesota Apartments Limited Partnership
          2782   EPT Lakeside Apartments, LP
     940951887   El Dorado Housing Associates III Limited Partnership
          2786   Majestic Employees, Ltd.
</TABLE>


<TABLE>

                                                                                   ADDIT DEBT              ADDITIONAL  ADDITIONAL
                                                                         TIC LOAN   PERMITTED  ADDIT DEBT     DEBT        DEBT
     LOAN #    PRINCIPAL NAME                                           STRUCTURE     (Y/N)    EXIST (Y/N)   AMOUNT       TYPE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400 Robert Morgan                                                No         Yes         No                   Mezzanine
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908 Michael B. Smuck                                             No         No          No
     940951902 Michael W. Palmer, Luke V. McCarthy                          Yes        No          No
          2557 Severin Vavra; Shalimar Vavra                                No         No          No
   20058536001 RealSource Equity Services, L.L.C.                           Yes        No          No
   20048509005 McKinley Associates, Inc.                                    No         No          No
   20058503201 Mr. McCallister                                              Yes        No          No
20058503201.01
20058503201.02
          2517 Darell Kransoff; Phillip Himelstein; Robert Friedman;        No         No          No
               Ronda Spinak
          2781 Richard Aguilar                                              No         Yes         No                   Mezzanine
          2785 Richard Aguilar                                              No         Yes         No                   Mezzanine
       05-2042 Derek L. Brown                                               No         No          Yes       475,000  Mezzanine Debt
          2541 Paul E. Christensen                                          No         No          No
   20059225004 Sean P. Coatney                                              No         No          No
   20059217001 Murl G. Blair, Sr., Wanda Blair and Blair Properties, LLC    No         No          No
          2899 Anthony J. Mandella; Charles L. Frandson;                    Yes        Yes         No                   Mezzanine
               Patricia M. Frandson
          2692 J. Douglas Rippeto                                           No         No          No
          2783 Richard Aguilar                                              No         Yes         No                   Mezzanine
          2049 Michael Green; Scott McWhorter                               No         Yes         No                   Mezzanine
   20059225003 Richard Thomas Gregg, William P. Wise and                    No         No          No
               Mark M. Tendai, III
       05-0206 Karan "Bobby" Kumar and Thomas Lawless                       No         No          No
     940951888 ERC Properties, Inc.                                         No         No          No
          2471 Steve Gerstung; Scott Douglass                               No         No          No
     940951837 Michael E. Tennyson, Patrick Tlustos                         No         No          No
     940951883 Tony Brice                                                   No         No          No
       05-2096 Danny H. Harris, Jr. and David M. Harris                     No         No          No
   20059226001 Leslie Clinton Reynolds, Jr.                                 No         No          No
          2784 Richard Aguilar                                              No         Yes         No                   Mezzanine
     940951886 ERC Properties, Inc.                                         No         No          No
     940951946 ERC Properties, Inc.                                         No         No          No
     940951745 Larry Shaver                                                 No         No          No
     940951836 Michael E. Tennyson, Patrick A. Tlustos                      No         No          No
          2782 Richard Aguilar                                              No         Yes         No                   Mezzanine
     940951887 ERC Properties, Inc.                                         No         No          No
          2786 Richard Aguilar                                              No         Yes         No                   Mezzanine
</TABLE>



<TABLE>

               LOCKBOX  LOCKBOX   LOCKBOX     CASH
     LOAN #     (Y/N)   IN-PLACE   TYPE    MANAGEMENT   CASH MANAGEMENT TRIGGER EVENT
- ------------------------------------------------------------------------------------------------------------------------------------

          2400 Yes        Yes      Soft     In Place
          2400
          2400
          2400
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
          2716
     940951908 No
     940951902 No
          2557 No
   20058536001 Yes        Yes      Soft     Springing   Earlier to occur of (i) an event of default or (ii) rental collections being
                                                        less than $132,583 as of the 15th of each month
   20048509005 No         No
   20058503201 No         No
20058503201.01
20058503201.02
          2517 No
          2781 No
          2785 No
       05-2042 Yes        Yes      Hard     Springing   Occurrence of a Default or Event of Default or failure of Borrower, after
                                                        the end of a calendar quarter, to maintain the Debt Service Coverage Ratio
                                                        of at least 1.03:1.
          2541 No
   20059225004 No         No
   20059217001 No         No
          2899 No
          2692 No
          2783 No
          2049 Yes        Yes      Soft     Springing   Event of Default
   20059225003 No         No
       05-0206 Yes        No       Hard     Springing   Occurrence of a Default or Event of Default or failure of Borrower, after
                                                        the end of a calendar quarter, to maintain a Debt Service Coverage Ratio of
                                                        at least 1.05:1.
     940951888 No
          2471 No
     940951837 No
     940951883 No
       05-2096 Yes        No       Hard     Springing   Occurrence of a Default or Event of Default or failure of Borrower, after
                                                        the end of a calendar quarter, to maintain the Debt Service Coverage Ratio
                                                        of at least 1.05:1.
   20059226001 No         No
          2784 No
     940951886 No
     940951946 No
     940951745 No
     940951836 No
          2782 No
     940951887 No
          2786 No
</TABLE>


<TABLE>

                                                                                                   NO. OF 4      NO. OF 4
                               AVG.     NO. OF    AVG.     NO. OF     AVG.    NO. OF     AVG.           AND           AND     AVG
                   NO. OF    STUDIO       1-BR    1-BR       2-BR     2-BR      3-BR     3-BR        ABOVE-        ABOVE-     PAD
     LOAN #        STUDIO      RENT      UNITS    RENT      UNITS     RENT     UNITS     RENT      BR UNITS      BR UNITS    RENT
- ------------------------------------------------------------------------------------------------------------------------------------

          2400
          2400
          2400
          2400
          2716         11       675         11     900         36    1,100
          2716                              13     896         17    1,113
          2716                               8     750         32      950
          2716                              16     825         12    1,025         2    1,300
          2716                                                 24    1,009
          2716                                                  6    1,029         2    1,260
          2716                                                  6    1,053         2      832
          2716                                                  8      822
          2716                                                  4    1,150
          2716                                                  4      856
          2716                                                 79      726
     940951908                             255     754        217      987        24    1,527
     940951902
          2557                              72     610        160      716        24      901
   20058536001                              68     699        138      799        22    1,079
   20048509005         48       605        108     704        140      835
   20058503201
20058503201.01                              40     520         96      610         8      845
20058503201.02                              96     524         48      599
          2517                                                                                                                372
          2781                             110     391        164      482
          2785                             116     435        124      548
       05-2042         12       590         70     660         89      770         1      900
          2541                                                118      714        26      820
   20059225004                              14     525         96      625        12      725
   20059217001                              36     578         96      665
          2899          3       767         60     868          4    1,167
          2692                              56     399         96      517        64      615
          2783                              65     375        144      454
          2049                             100     367         68      454        56      529
   20059225003                                                 68      615         2      650
       05-0206                                                 97      440                                1           800
     940951888
          2471          6       604         15     697          6      888        10    1,075             3         1,423
     940951837                                                 24      670        24      803
     940951883
       05-2096                              24     300         87      352                               22           555
   20059226001                                                                                                                195
          2784                              16     448         54      517        16      633
     940951886                              16     396         31      522        17      552
     940951946
     940951745                              29     452         31      529
     940951836                                                 24      585        24      692
          2782                                                 64      425
     940951887
          2786                                                 48      441
</TABLE>


<TABLE>

                                                                                   TRUSTEE                                   NET
               UTILITIES           SUBSERVICER               PRIMARY     MASTER  & PAYING  CASH/PMT                        MORTGAGE
                TENANT    ELEVATOR  IN PLACE   SUBSERVICER  SERVICING  SERVICING   AGENT  COLLECTION  SUBSERVICER  ADMIN.  INTEREST
     LOAN #      PAYS      PRESENT    (Y/N)       NAME       FEE RATE   FEE RATE    FEE    FUNCTION       FEE       FEE      RATE
- ------------------------------------------------------------------------------------------------------------------------------------

          2400
          2400
          2400
          2400
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
          2716     E, G   No
     940951908  E, W, S   No
     940951902            No
          2557  E, S, W   No
   20058536001     E, W
   20048509005  E, S, W   No
   20058503201
20058503201.01        E   No
20058503201.02     E, W   No
          2517
          2781  E, S, W   No
          2785  E, S, W   No
       05-2042        E   No
          2541  E, S, W   No
   20059225004        E   No
   20059217001  E, S, W   No
          2899        E   No
          2692     E, G   No
          2783  E, S, W   No
          2049        E   No
   20059225003            No
       05-0206        E   No
     940951888            No
          2471        E   No
     940951837            No
     940951883        E   No
       05-2096     E, G   No
   20059226001    E,G,W
          2784  E, S, W   No
     940951886            No
     940951946            No
     940951745            No
     940951836            No
          2782  E, S, W   No
     940951887            No
          2786  E, S, W   No
</TABLE>