-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DqgLRKs9QduqaWEd/4Z4C+TIz9b7tHjs59LJb4rmc5bERZVnGmfNI5l2fEr7aGW5 xvza6K6e/3bKVGTYGTb/aQ== 0000905148-99-001068.txt : 19990524 0000905148-99-001068.hdr.sgml : 19990524 ACCESSION NUMBER: 0000905148-99-001068 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990520 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990521 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANDERBILT MORTGAGE & FINANCE INC CENTRAL INDEX KEY: 0000816512 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 620997810 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-80304 FILM NUMBER: 99632139 BUSINESS ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 BUSINESS PHONE: 4233803000 MAIL ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLAYTON HOMES INC CENTRAL INDEX KEY: 0000719547 STANDARD INDUSTRIAL CLASSIFICATION: MOBILE HOMES [2451] IRS NUMBER: 621671360 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08824 FILM NUMBER: 99632140 BUSINESS ADDRESS: STREET 1: 500 ALOCA TRAIL CITY: MARYVILLE STATE: TN ZIP: 37804 BUSINESS PHONE: 4233803000 MAIL ADDRESS: STREET 1: PO BOX 9790 CITY: MARYVILLE STATE: TN ZIP: 37804 8-K 1 T:/EDGAR/CUMMINGS.TXT 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): May 19, 1999 VANDERBILT MORTGAGE AND FINANCE, INC. (as seller and servicer under the Pooling and Servicing Agreement, dated as of April 26, 1999, providing for the issuance of the Vanderbilt Mortgage and Finance, Inc., Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B). CLAYTON HOMES, INC. VANDERBILT MORTGAGE AND FINANCE, INC. ----------------------------------------------------- (Exact name of registrant as specified in its charter) Clayton Homes, Inc. - Del. Vanderbilt - Tennessee 333-75405 62-0997810 - -------------------------------------------------------------------------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 500 Alcoa Trail Maryville, Tennessee 37804 - --------------------- ---------- (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code (423) 380-3000 _______________________________________________________________________________ Former Address: _______________________________________________________________________________ Item 5. Other Events Filing of Computational Materials. In connection with the offering of the Vanderbilt Mortgage and Finance, Inc. ("Vanderbilt") Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates, Series 1999B, Prudential Securities Incorporated and Credit Suisse First Boston, as the underwriters of the Certificates (the "Underwriters") have provided certain materials (the "Computational Materials") for distribution to its potential investors. Although the Company provided the Underwriters with certain information regarding the characteristics of the Contracts in the related portfolio, it did not participate in the preparation of the Computational Materials. For purposes of this Form 8-K, Computational Materials shall mean computer generated tables and/or charts displaying, with respect to any Class or Classes of Certificates, any of the following: yield; average life; duration; expected maturity; interest rate sensitivity; loss sensitivity; cash flow characteristics; background information regarding the Contracts; the proposed structure; decrement tables; or similar information (tabular or otherwise) of a statistical, mathematical, tabular or computational nature. The Computational Materials provided by Prudential Securities Incorporated are attached hereto as Exhibit 99.1. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Not applicable. (b) Not applicable. (c) Exhibits: 99.1 Computational Materials - Prudential Securities Incorporated SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. VANDERBILT MORTGAGE AND FINANCE, INC. By /s/ Paul Nichols --------------------------------- Name: Paul Nichols Title: Assistant Secretary CLAYTON HOMES, INC. By /s/ Amber Krupacs --------------------------------- Name: Amber Krupacs Title: Vice President and Secretary Dated: May 19, 1999 Exhibit Index Exhibit Page 99.1 Computational Materials, Prudential Securities Incorporated EX-99.1 2 COMPUTATIONAL ******************** PRELIMINARY INFORMATION ONLY ************************** Marketing Memorandum for Vanderbilt Mortgage and Finance, Inc., Manufactured Housing Contract, Senior/Subordinate Pass-Through Certificates, Series 1999-B ----------------------------------------------------------------------------- GROUP I CERTIFICATES: $[105,000,000] Class IA-1 Adjustable Rate Group Certificates - [1M LIBOR + TBD bps] $ [40,000,000] Class IA-2 Fixed Rate Group Certificates - [TBD] $ [63,000,000] Class IA-3 Fixed Rate Group Certificates - [TBD] $ [62,000,000] Class IA-4 Fixed Rate Group Certificates - [TBD] $ [27,000,000] Class IA-5 Fixed Rate Group Certificates - [TBD] $ [25,406,000] Class IA-6 Fixed Rate Group Certificates - [TBD] $ [28,934,000] Class IA-7 Fixed Rate Group Certificates - [TBD] $ [16,534,000] Class IM-1 Fixed Rate Group Certificates - [TBD] $ [16,534,000] Class IB-1 Fixed Rate Group Certificates - [TBD] $ [28,934,000] Class IB-2 Fixed Rate Group Certificates - [TBD] GROUP II CERTIFICATES: $ [81,547,000] Class IIA-1 Adjustable Rate Group Certificates - [1M LIBOR + TBD bps] $ [11,349,000] Class IIB-1 Adjustable Rate Group Certificates - [1M LIBOR + TBD bps] $ [ 6,071,000] Class IIB-2 Adjustable Rate Group Certificates - [1M LIBOR + TBD bps] $ [ 6,598,000] Class IIB-3 Adjustable Rate Group Certificates - [1M LIBOR + TBD bps] -----------------------------------------------------------------------------
The information provided herein is provided solely by Prudential Securities Incorporated ("PSI") as underwriter for the Vanderbilt Mortgage and Finance, Series 1999-B transaction, and not by or as agent for Vanderbilt Mortgage and Finance, Inc. or any of its affiliates (the "Sponsor"). The Sponsor has not prepared, reviewed or participated in the preparation hereof, is not responsible for the accuracy hereof and has not authorized the dissemination hereof. The analysis in this report is accurate to the best of PSI's knowledge and is based on information provided by the Sponsor. PSI makes no representations as to the accuracy of such information provided to it by the Sponsor. All assumptions and information in this report reflect PSI's judgment as of this date and are subject to change. All analyses are based on certain assumptions noted herein and different assumptions could yield substantially different results. You are cautioned that there is no universally accepted method for analyzing financial instruments. You should review the assumptions; there may be differences between these assumptions and your actual business practices. Further, PSI does not guarantee any results and there is no guarantee as to the liquidity of the instruments involved in this analysis. The decision to adopt any strategy remains your responsibility. PSI (or any of its affiliates) or their officers, directors, analysts or employees may have positions in securities, commodities or derivative instruments thereon referred to here, and may, as principal or agent, buy or sell such securities, commodities or derivative instruments. In addition, PSI may make a market in the securities referred to herein. Neither the information nor the assumptions reflected herein shall be construed to be, or constitute, an offer to sell or buy or a solicitation of an offer to sell or buy any securities, commodities or derivative instruments mentioned herein. No sale of any securities, commodities or derivative instruments should be consumated without the purchaser first having received a prospectus and, if required, prospectus supplement. Finally, PSI has not addressed the legal, accounting and tax implications of the analysis with respect to you, and PSI strongly urges you to seek advice from your counsel, accountant and tax advisor. The Certificates are being offered pursuant to a Prospectus which includes a Prospectus Supplement (together, the "Prospectus"). The information contained herein will be superseded by the final Prospectus. ******************** PRELIMINARY INFORMATION ONLY ************************** Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo Title of Securities: VMF 1999-B, Class IA-1, Class IA-2, Class IA-3, Class IA-4, Class IA-5, Class IA-6, Class IA-7, Class IM-1, Class IB-1 and Class IB-2 Fixed Rate Group Certificates and Class IIA-1, Class IIB-1, Class IIB-2 and Class IIB-3 Adjustable Rate Group Certificates Seller: Vanderbilt Mortgage and Finance, Inc. Servicer: Vanderbilt Mortgage and Finance, Inc. Trustee: The Chase Manhattan Bank CREDIT ENHANCEMENT ------------------ 1) Excess interest 2) Over-Collateralization 3) Cross-Collateralization 4) Subordination 5) Limited Guarantee of Clayton Homes, Inc. (Class I B-2 and Class II B-3 only) Excess Interest: Excess interest cashflows from each group will be available as credit enhancement for the related group. Overcollateralization: The credit enhancement provisions of the Trust are intended to provide for the limited acceleration of the senior Certificates relative to the amortization of the related collateral, generally in the early months of the transaction. Accelerated amortization is achieved by applying excess servicing and the servicing fee (while VMF is the servicer) collected on the collateral to the payment of principal on the Senior Certificates, resulting in the build up of overcollateralization ("O/C"). By paying down the principal balance of the certificates faster than the principal amortization of the respective collateral pool, an O/C amount equal to the excess of the aggregate principal balance of the collateral pool over the principal balance of the related Certificates is created. Excess cashflow will be directed to build the O/C amount until the pool reaches its required O/C target. Upon this event the acceleration feature will cease, unless it is once again necessary to maintain the required O/C level. FIXED RATE CERTIFICATES N/A ADJUSTABLE RATE CERTIFICATES Initial Deposit: [0.00%] Target: [3.50%] These O/C percentages are subject to step-downs beginning in month [61] if the Subordinate Class Principal distribution tests are met. Cross- Collateralization: Excess spread from each of the two collateral groups, if not needed to credit enhance its own group will be available to credit enhance the other group.
Subordination: GROUP I (Fixed) GROUP II (Adjustable) --------------- --------------------- Class IA-1 - IA-6 + IIA-1 (AAA/AAA) [22.00]% [22.75]% Class IA-7 (AA/AA-) [15.00]% N/A Class II B-1 (AA-/AA-) N/A [12.00]% Class IM-1 (A/A) [11.00]% N/A Class IB-1 + IIB-2 (BBB/BBB) [ 7.00]% [6.25]% Class IB-2 + IIB-3 (BBB/BBB) [3.50]% Class Sizes: GROUP I GROUP II ------- -------- Class IA-1 - IA-6 + IIA-1 (AAA/AAA) [78.00]% [77.25]% Class IA-7 (AA/AA-) [ 7.00]% N/A Class IIB-1 (AA-/AA-) N/A [10.75]% Class IM-1 (A/A) [ 4.00]% N/A Class IB-1 + IIB-2 (BBB/BBB) [ 4.00]% [ 5.75]% Class 1B-2 + IIB-3 (BBB/BBB) [ 7.00]% [ 6.25]% O/C N/A [ 3.50]%
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. ************************ PRELIMINARY INFORMATION ONLY *********************** Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo - ------------------------------------------------------------------------------ Fixed-Rate Group
Class Class Class Class Class Class Class Class Class Class I A-1 I A-2 I A-3 I A-4 I A-5 I A-6 I A-7 I M-1 I B-1 I B-2 Amount($000): [105,000,000 40,000,000 63,000,000 62,000,000 27,000,000 25,406,000 28,934,000 16,534,000 16,534,000 28,934,000] Coupon: [----------------------------------------------------TBD--------------------------------------------------------] Approx. Price:[----------------------------------------------------TBD--------------------------------------------------------] Yield(%): [----------------------------------------------------TBD--------------------------------------------------------] Spread (bps): [----------------------------------------------------TBD--------------------------------------------------------] Avg Life To Call: [0.833 2.123 3.236 5.016 7.391 9.730 11.679 8.654 6.057 10.138 ] Avg Life To Mat.: [0.833 2.123 3.236 5.016 7.391 9.730 14.281 9.347 6.057 13.037 ] 1st Prin Pymt: To 10% Call: [06/07/1999 02/07/2001 12/07/2001 06/07/2003 11/07/2005 11/07/2007 09/07/2010 06/07/2004 06/07/2004 09/07/2006] Last Prin Pmt To 10% Call: [02/07/2001 12/07/2001 06/07/2003 11/07/2005 11/07/2007 09/07/2010 02/07/2011 02/07/2011 09/07/2006 02/07/2011] Last Prin Pmt To Mat.: [02/07/2001 12/07/2001 06/07/2003 11/07/2005 11/07/2007 09/07/2010 10/07/2017 10/07/2017 09/07/2006 12/07/2027] Stated Mat: [10/07/2006 11/07/2008 03/07/2013 04/07/2018 06/07/2021 08/07/2024 07/07/2029 07/07/2029 01/07/2016 07/07/2029] Expected Settlement: [----------------------------------------------------[05/27/99] ----------------------------------------------] Pymt Delay: 0 days [-------------------------------------------6 days ----------------------------------------------] Interest Pmt Act/360 30/360 30/360 30/360 30/360 30/360 30/360 30/360 30/360 30/360 Basis: Dated Date: [05/27/99] [----------------------------------------[05/01/99]----------------------------------------------] Ratings: [AAA/AAA AAA/AAA AAA/AAA AAA/AAA AAA/AAA AAA/AAA AA/AA- A/A BBB/BBB BBB/BBB] (S&P/Fitch) Pricing Date: [-------------------------------------------------------[TBD]-------------------------------------------------]
Prepayment Speed: 225% MHP Total Group Size: [$413,342,481.26] Class IA-1 Pass Through Rate: The Class I A-1 Pass Through Rate will equal the lesser of i) One Month LIBOR plus [TBD%] and ii) the weighted average gross coupon of the contracts less the 1.25% servicing fee. Servicing Fee: For as long as Vanderbilt is the servicer, the servicing fee of [1.25]% per annum is subordinate to the Offered Certificates on a monthly basis. THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. *********************** PRELIMINARY INFORMATION ONLY *********************** Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo Cashflow Priority: PRICING BASE CASE CLASS I M-1 AND CLASS B DISTRIBUTION TEST IS MET: 1) Current interest and any previously unreimbursed interest to Classes I A-1 - I A-6; 2) Senior percentage of principal payments sequentially to Classes I A-1, I A-2, I A-3, I A-4, I A-5, and I A-6 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class I A-7 Certificates; 4) Senior percentage of principal payments to Class I A-7 until such class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class I M-1 Certificates; 6) Mezzanine percentage of principal payments to Class I M-1 until such class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class I B-1 Certificates; 8) Class I B percentage of principal payments to Class I B-1 until such class is reduced to zero; 9) Current interest and any previously unreimbursed interest to Class I B-2 Certificates; 10) Class I B percentage of principal payments to Class I B-2 until such class is reduced to zero; 11) Excess cashflow to fund any Available Funds shortfall with respect to the Group II Certificates except the Net Funds Cap Carryover Amount; 12) Excess cashflow to the Class II A-1 to build O/C for the Group II Certificates. 13) As long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 14) Any remainder to the Class R Certificates. ---------------------------------------------------------- | | | | | | | | |I A-1|I A-2| I A-3 | I A-4 | I A-5 | I A-6 | I A-7 | | | | | | | | | |-----|-----|----------|--------|-------|-------|--------| |///////////////////| | |///////////////////| I M-1 | |///////////////////|----------------------------------- | |///////////////////| I B-1 | I B-2 | ---------------------------------------------------------- 5 yrs THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. ************************ PRELIMINARY INFORMATION ONLY ************************ Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo Cashflow Priority: CLASS I M-1 AND CLASS I B DISTRIBUTION TEST IS NOT MET: 1) Current interest and any previously unreimbursed interest to Classes I A-1 - I A-6 Certificates; 2) 100% of principal payments sequentially to Classes I A-1, I A-2, I A-3, I A-4, I A-5, and I A-6 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class I A-7 Certificates; 4) 100% of principal payments to Class I A-7 until such Class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class I M-1 Certificates; 6) 100% of principal payments to Class I M-1 until such Class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class I B-1 Certificates; 8) 100% of principal payments to Class I B-1 until such Class is reduced to zero; 9) Current interest and any previously unreimbursed interest to Class I B-2 Certificates; 10) 100% of principal payments to Class I B-2 until such Class is reduced to zero; 11) Excess cashflow to fund any Available Funds shortfall with respect to the Group II Certificates except the Net Funds Cap Carryover Amount; 12) Excess cashflow to the Class II A-1 to build O/C for the Group II Certificates. 13) So long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 14) Any remainder to the Class R Certificates.
--------------------------------------------------------------------------------- | | | | | | | | | | | | | | | | | | | | | | | I A-1 | I A-2 | I A-3 | I A-4 | I A-5 | I A-6 | I A-7 | I M-1 | I B-1 | I B-2 | | | | | | | | | | | | |-------|-------|-------|-------|-------|-------|-------|-------|-------|------ |
Class I B Distribution Test: THE CLASS I M-1 AND CLASS I B DISTRIBUTION IS MET IF: 1) Remittance Date is on or after June 2004 2) Class I M-1 Percentage plus Class I B Percentage is at least [26.250] % (which is 1.75 times the sum of the original Class I M-1 Percentage and the original Class I B Percentage). 3) Cumulative Realized Losses do not exceed [7]% for year 2004, [8]% for year 2005, and [9]% for year 2006 and beyond of the Original Principal Balance of the Contracts 4) Current Realized Loss Ratio does not exceed [2.75]% 5) Average 60 Day Delinquency Ratio does not exceed [5]% 6) Average 30 Day Delinquency Ratio does not exceed [7]% 7) Class I B-2 Principal Balance must not be less than [$8,266,849.63] (which represents approximately 2% of the Total Original Group I Pool Principal Balance). THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. ************************ PRELIMINARY INFORMATION ONLY ************************* Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo - ------------------------------------------------------------------------------ Adjustable-Rate Certificates
Class Class Class Class II A-1 II B-1 II B-2 II B-3 - ----------------------------------------------------------------------------------------- Amount(000): [81,547,000 11,349,000 6,071,000 6,598,000] Coupon: [-----------------------------TBD-------------------------------] Approx. Price: [-----------------------------TBD-------------------------------] Avg Life To Call: [3.66 7 5.862 8.336 11.359] Avg Life To Mat: [3.798 5.862 8.336 12.839] 1st Prin Pymt: To 10% Call: [06/07/1999 06/07/2004 06/07/2006 05/07/2009] Last Prin Pmt To 10% Call: [02/07/2011 06/07/2006 05/07/2009 02/07/2011] Last Prin Pmt To Mat.: [04/07/2015 06/07/2006 05/07/2009 07/07/2016] Stated Maturity: [07/07/2029 05/07/2015 06/07/2016 07/07/2029] Expected Settlement: [------------------------05/27/99-------------------------] Pymt Delay: 0 Days 0 Days 0 Days 0 Days Dated Date: [05/27/99] [05/27/99] [05/27/99] [05/27/99] Rating: (S&P/Fitch) [AAA/AAA AA-/AA- BBB/BBB BBB/BBB] Pricing Date: [-----------------------[TBD]--------------------------]
Prepayment Speed: 250% MHP Total Group Size: [$105,565,830.29] Group II Pass Through Rate: The Group II Pass Through Rate will equal the lesser of i) One Month LIBOR plus [TBD%] and ii) the Net Funds Cap as described herein. Coupon Step up: If the 10% Clean-Up Call is not exercised, the coupon on the Class Adjustable Rate Certificates : IIA-1 - shall increase to [2x] the respective margin IIB-1 - shall increase by an additional [50 BP] IIB-2 - shall increase by an additional [50 BP] IIB-3 - shall increase by an additional [50 BP] Net Funds Cap: The difference between the a) collateral WAC and b) the the sum of i) if the OC is less than its target, [0.75]% spread cushion, and ii) if the Company is no longer the Servicer, [1.25]%. Net Funds Cap Carryover: If on any Payment Date the Group II Certificate interest distribution amount is less than the Group II Pass-Through Rate (which is subject to a maximum equal to the Weighted Average Life Cap of the collateral), the amount of such shortfall and the aggregate of such shortfalls from previous payment dates together with accrued interest at the Pass-Through Rate will be carried forward to the next Payment Date until paid. THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. *********************** PRELIMINARY INFORMATION ONLY ************************ Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo Cashflow Priority: PRICING BASE CASE CLASS II B DISTRIBUTION TEST IS MET: 1) Current interest and any previously unreimbursed interest to Class II A-1 Certificates (subject to the Net Funds Cap); 2) Senior percentage of principal payments to Class II A-1 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class II B-1 Certificates; 4) Class II B percentage of principal payments to Class II B-1 until such class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class II B-2 Certificates; 6) Class II B percentage of principal payments to Class II B-2 until such class is reduced to zero; 7) Current interest and any previously unreimbursed interest to Class II B-3 Certificates; 8) Class II B percentage of principal payments to Class II B-3 until such class is reduced to zero; 9) Excess cashflow to fund any Available Funds shortfall with respect to the Group I Certificates except the Net Funds Cap Carryover Amount; 10) Excess cashflow to the Class II A-1 to build O/C. 11) So long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 12) Any remainder to the Class R Certificates. ------------------------------------------------------ | | | II A-1 | | | |-----------------------------------------------------| |/////////////| | | | |/////////////| | | | |/////////////| II B-1 | II B-2 | II B-3 | |/////////////|----------------|------------|---------| 5 yrs THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. ************************ PRELIMINARY INFORMATION ONLY *********************** Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo CLASS II B DISTRIBUTION TEST IS NOT MET: 1) Current interest and any previously unreimbursed interest to Classes II A-1 Certificates; 2) 100% of principal payments sequentially to Class II A-1 until such class is reduced to zero; 3) Current interest and any previously unreimbursed interest to Class II B-1 Certificates; 4) 100% of principal payments to Class II B-1 until such Class is reduced to zero; 5) Current interest and any previously unreimbursed interest to Class II B-2 Certificates; 6) 100% of principal payments to Class II B-2 until such Class is reduced to zero; 7) Excess cashflow to fund any Available Funds shortfall with respect to the Group I Certificates except the Net Funds Cap Carryover Amount; 8) Excess cashflow to the Class II A-1 to build O/C. 9) So long as Vanderbilt is the Servicer, any remainder up to the amount equal to 1/12th of the product of 1.25% and the pool scheduled principal balance to the Servicer; 10) Any remainder to the Class R Certificates. ----------------------------------------------------------------- | | | | | | | | | | | II A-1 | II B-1| II B-2| II B-3| | | | | | |---------------------------------------|-------|-------|-------| Class II B Distribution Test: The Class II B Distribution Test is met if 1) Remittance Date is on or after June 2004 2) Class II B Percentage + O/C is at least [50.0%] 3) Cumulative Realized Losses do not exceed [7]%for year 2004 , [8]% for year 2005 , and [9]% for year 2006 and beyond of the Original Principal Balance of the Contracts 4) Current Realized Loss Ratio does not exceed [2.75]% 5) Average 60 Day Delinquency Ratio does not exceed [5]% 6) Average 30 Day Delinquency Ratio does not exceed [7]% 7) Sum of Class II B-3 Principal Balance + O/C must not be less than [$2,111,316.61] (which represents approximately 2% of the Total Original Group II Pool Principal Balance). THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. ************************* PRELIMINARY INFORMATION ONLY ************************ Vanderbilt Mortgage and Finance, Inc., Series 1999-B Preliminary Marketing Memo Cleanup Call: The Servicer may call the Certificates at par plus accrued interest after the aggregate remaining pool balance of both Groups is less than 10% of the Cut-off Date pool principal balance. Payment Date: The 7th day of each month or, if such day is not a business day, the next succeeding business day, beginning in June, 1999. Interest Accrual: Interest will accrue from the 1st day of the preceding month until the 30th day of the preceding month for the Class I A-2, I A-3, I A-4, I A-5, I A-6, I A-7, I M-1, I B-1 and I B-2 certificates. For the Class I A-1 certificates and the Group II Certificates, interest will accrue from the 7th day of the preceeding month until the 6th day of the current month. For the first payment date, interest will accrue from the closing date to the first Payment Date for the class I A-1 certificates and the Group II Certificates. For the Class I A-1 certificates, and the Group II Certificates, interest is calculated using an actual/360 day count. For the remainder of the certificate classes, interest is calculated using a 30/360 day count. ERISA Considerations: The Class I A-1, I A-2, I A-3, I A-4, I A-5 and I A-6 Certificates and the Class II A-1 will be ERISA eligible. The Class I A-7, Class I M-1, I B-1 and I B-2 Certificates and the Class II B-1, II B-2, and II B-3 are not ERISA eligible. However, investors should consult with their counsel with respect to the consequences under ERISA and the Code of the Plan's acquisition and ownership of such Certificates. SMMEA Considerations: The Class II A-1 and II B-1 Certificates will constitute "mortgage related securities" under the Secondary Mortgage Market Enhancement Act of 1984 "SMMEA". Group I Group II Type of Collateral: [ FIXED ARM ] Amount [ $413,342,481.26 $105,565,830.29 ] Avg Unpaid Balance: [ $31,228.66 $35,700.31 ] Max Original Balance: [ $250,321.36 $123,179.00 ] WAC: [ 10.446% 10.716% ] WAC Range: [ 7.000% - 18.000% 7.990% - 18.500% ] WAM: [ 242.455 217.281 ] WA Orig Term [ 261.873 217.939 ] WALTV: [ 87.365% 86.574% ] New [ 80.34% 72.71% ] Used [ 19.66% 27.29% ] Single [ 48.68% 51.29% ] Multi [ 50.80% 48.71% ] Site Built [ 0.52% 0.00% ] Prospectus: The Certificates are being offered pursuant to a Prospectus which includes a Prospectus Supplement (together, the "Prospectus")Complete information with respect to the Certificates and the Collateral is contained in the Prospectus. The foregoing is qualified in its entirety by the information appearing in the Prospectus. To the extent that the foregoing is inconsistent with the Prospectus, the Prospectus shall govern in all respects. Sales of the Certificates may not be consumated unless the purchaser has received the Prospectus. THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Projected Available Funds Cap of GROUP II: ========================================= (GROSS COUPON - [75] bp CARVE-OUT, Using 30/360 Day Count) * Assuming VMF is the servicer DATE COUPON - ------------- 06/99 9.966 07/99 9.966 08/99 9.966 09/99 9.966 10/99 9.966 11/99 9.966 12/99 9.966 01/00 9.988 02/00 9.988 03/00 10.154 04/00 10.370 05/00 10.520 06/00 10.551 07/00 10.564 08/00 10.564 09/00 10.564 10/00 10.564 11/00 10.564 12/00 10.564 01/01 10.564 02/01 10.564 03/01 10.564 04/01 10.564 05/01 10.564 06/01 10.564 THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $105,000,000.00 CURRENT COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $105,000,000.00 BOND IA1 DISCOUNT MARGIN ACT/360 TABLE ASSUMED CONSTANT LIBOR-1M 4.9138
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 39.384 33.648 36.486 42.335 45.321 48.387 99-24+ 37.482 32.104 34.765 40.248 43.047 45.921 99-25 35.580 30.562 33.045 38.162 40.773 43.456 99-25+ 33.679 29.019 31.325 36.076 38.500 40.991 99-26 31.778 27.477 29.605 33.990 36.228 38.526 99-26+ 29.877 25.936 27.886 31.905 33.956 36.063 99-27 27.977 24.394 26.167 29.820 31.685 33.600 99-27+ 26.077 22.853 24.449 27.736 29.414 31.137 99-28 24.178 21.313 22.730 25.652 27.143 28.675 99-28+ 22.279 19.772 21.013 23.569 24.874 26.214 99-29 20.381 18.232 19.296 21.486 22.604 23.753 99-29+ 18.483 16.693 17.579 19.404 20.336 21.293 99-30 16.586 15.153 15.862 17.322 18.068 18.833 99-30+ 14.689 13.615 14.146 15.241 15.800 16.374 99-31 12.792 12.076 12.430 13.160 13.533 13.915 99-31+ 10.896 10.538 10.715 11.080 11.266 11.457 100-00 9.000 9.000 9.000 9.000 9.000 9.000 100-00+ 7.105 7.463 7.285 6.921 6.734 6.543 100-01 5.210 5.925 5.571 4.842 4.469 4.087 100-01+ 3.315 4.389 3.858 2.763 2.205 1.631 First Payment 0.028 0.028 0.028 0.028 0.028 0.028 Average Life 0.833 1.036 0.925 0.758 0.694 0.638 Last Payment 1.694 2.111 1.944 1.611 1.444 1.361
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $40,000,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $40,000,000.00 BOND IA2 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 6.138 6.124 6.131 6.145 6.152 6.159 99-24+ 6.129 6.117 6.123 6.136 6.142 6.149 99-25 6.121 6.110 6.116 6.127 6.133 6.139 99-25+ 6.113 6.104 6.109 6.118 6.123 6.128 99-26 6.105 6.097 6.101 6.109 6.114 6.118 99-26+ 6.097 6.091 6.094 6.101 6.104 6.108 99-27 6.089 6.084 6.087 6.092 6.095 6.097 99-27+ 6.081 6.077 6.079 6.083 6.085 6.087 99-28 6.073 6.071 6.072 6.074 6.075 6.077 99-28+ 6.065 6.064 6.065 6.065 6.066 6.066 99-29 6.057 6.057 6.057 6.057 6.056 6.056 99-29+ 6.049 6.051 6.050 6.048 6.047 6.046 99-30 6.041 6.044 6.043 6.039 6.037 6.035 99-30+ 6.033 6.038 6.035 6.030 6.028 6.025 99-31 6.025 6.031 6.028 6.021 6.018 6.015 99-31+ 6.017 6.024 6.021 6.013 6.008 6.004 100-00 6.009 6.018 6.013 6.004 5.999 5.994 100-00+ 6.001 6.011 6.006 5.995 5.989 5.984 100-01 5.992 6.005 5.999 5.986 5.980 5.973 100-01+ 5.984 5.998 5.991 5.977 5.970 5.963 100-02 5.976 5.991 5.984 5.969 5.961 5.953 100-02+ 5.968 5.985 5.977 5.960 5.951 5.942 100-03 5.960 5.978 5.969 5.951 5.942 5.932 100-03+ 5.952 5.972 5.962 5.942 5.932 5.922 100-04 5.944 5.965 5.955 5.934 5.923 5.912 100-04+ 5.936 5.958 5.947 5.925 5.913 5.901 100-05 5.928 5.952 5.940 5.916 5.904 5.891 100-05+ 5.920 5.945 5.933 5.907 5.894 5.881 100-06 5.912 5.939 5.925 5.898 5.884 5.870 100-06+ 5.904 5.932 5.918 5.890 5.875 5.860 100-07 5.896 5.925 5.911 5.881 5.865 5.850 100-07+ 5.888 5.919 5.904 5.872 5.856 5.840 First Payment 1.694 2.111 1.944 1.611 1.444 1.361 Average Life 2.123 2.623 2.348 1.932 1.770 1.632 Last Payment 2.528 3.111 2.778 2.278 2.111 1.944
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $63,000,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $63,000,000.00 BOND IA3 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 6.358 6.349 6.353 6.362 6.367 6.371 99-24+ 6.352 6.345 6.348 6.356 6.360 6.364 99-25 6.347 6.340 6.343 6.350 6.354 6.357 99-25+ 6.341 6.335 6.338 6.344 6.347 6.350 99-26 6.336 6.331 6.333 6.338 6.341 6.343 99-26+ 6.330 6.326 6.328 6.332 6.334 6.336 99-27 6.325 6.322 6.323 6.326 6.328 6.330 99-27+ 6.319 6.317 6.318 6.320 6.321 6.323 99-28 6.314 6.312 6.313 6.314 6.315 6.316 99-28+ 6.308 6.308 6.308 6.308 6.308 6.309 99-29 6.303 6.303 6.303 6.302 6.302 6.302 99-29+ 6.297 6.299 6.298 6.296 6.296 6.295 99-30 6.292 6.294 6.293 6.290 6.289 6.288 99-30+ 6.286 6.290 6.288 6.284 6.283 6.281 99-31 6.281 6.285 6.283 6.278 6.276 6.274 99-31+ 6.275 6.280 6.278 6.273 6.270 6.267 100-00 6.270 6.276 6.273 6.267 6.263 6.260 100-00+ 6.264 6.271 6.268 6.261 6.257 6.253 100-01 6.259 6.267 6.263 6.255 6.250 6.246 100-01+ 6.253 6.262 6.258 6.249 6.244 6.239 100-02 6.248 6.258 6.253 6.243 6.238 6.232 100-02+ 6.242 6.253 6.248 6.237 6.231 6.225 100-03 6.237 6.248 6.243 6.231 6.225 6.218 100-03+ 6.231 6.244 6.238 6.225 6.218 6.211 100-04 6.226 6.239 6.233 6.219 6.212 6.205 100-04+ 6.220 6.235 6.228 6.213 6.205 6.198 100-05 6.215 6.230 6.223 6.207 6.199 6.191 100-05+ 6.209 6.226 6.218 6.201 6.193 6.184 100-06 6.204 6.221 6.213 6.195 6.186 6.177 100-06+ 6.199 6.216 6.208 6.189 6.180 6.170 100-07 6.193 6.212 6.203 6.183 6.173 6.163 100-07+ 6.188 6.207 6.198 6.177 6.167 6.156 First Payment 2.528 3.111 2.778 2.278 2.111 1.944 Average Life 3.236 3.970 3.570 2.952 2.710 2.500 Last Payment 4.028 4.861 4.444 3.694 3.361 3.111
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $62,000,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $62,000,000.00 BOND IA4 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 6.607 6.601 6.604 6.611 6.614 6.616 99-24+ 6.604 6.598 6.601 6.606 6.609 6.612 99-25 6.600 6.595 6.597 6.602 6.605 6.607 99-25+ 6.596 6.592 6.594 6.598 6.600 6.602 99-26 6.592 6.589 6.591 6.594 6.596 6.597 99-26+ 6.589 6.586 6.587 6.590 6.591 6.593 99-27 6.585 6.583 6.584 6.586 6.587 6.588 99-27+ 6.581 6.580 6.580 6.582 6.582 6.583 99-28 6.577 6.577 6.577 6.578 6.578 6.578 99-28+ 6.573 6.573 6.573 6.574 6.574 6.574 99-29 6.570 6.570 6.570 6.569 6.569 6.569 99-29+ 6.566 6.567 6.567 6.565 6.565 6.564 99-30 6.562 6.564 6.563 6.561 6.560 6.559 99-30+ 6.558 6.561 6.560 6.557 6.556 6.554 99-31 6.555 6.558 6.556 6.553 6.551 6.550 99-31+ 6.551 6.555 6.553 6.549 6.547 6.545 100-00 6.547 6.552 6.550 6.545 6.542 6.540 100-00+ 6.543 6.549 6.546 6.541 6.538 6.535 100-01 6.540 6.546 6.543 6.536 6.534 6.531 100-01+ 6.536 6.543 6.539 6.532 6.529 6.526 100-02 6.532 6.540 6.536 6.528 6.525 6.521 100-02+ 6.528 6.537 6.533 6.524 6.520 6.516 100-03 6.525 6.534 6.529 6.520 6.516 6.512 100-03+ 6.521 6.530 6.526 6.516 6.511 6.507 100-04 6.517 6.527 6.522 6.512 6.507 6.502 100-04+ 6.513 6.524 6.519 6.508 6.502 6.497 100-05 6.510 6.521 6.516 6.504 6.498 6.493 100-05+ 6.506 6.518 6.512 6.500 6.494 6.488 100-06 6.502 6.515 6.509 6.495 6.489 6.483 100-06+ 6.498 6.512 6.505 6.491 6.485 6.478 100-07 6.495 6.509 6.502 6.487 6.480 6.474 100-07+ 6.491 6.506 6.498 6.483 6.476 6.469 First Payment 4.028 4.861 4.444 3.694 3.361 3.111 Average Life 5.016 6.419 5.645 4.516 4.129 3.818 Last Payment 6.444 8.194 7.278 5.694 4.944 4.611
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $27,000,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $27,000,000.00 BOND IA5 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 6.880 6.876 6.878 6.883 6.885 6.888 99-24+ 6.877 6.874 6.876 6.880 6.882 6.885 99-25 6.875 6.872 6.873 6.877 6.879 6.881 99-25+ 6.872 6.869 6.871 6.873 6.875 6.877 99-26 6.869 6.867 6.868 6.870 6.872 6.874 99-26+ 6.866 6.865 6.865 6.867 6.869 6.870 99-27 6.864 6.862 6.863 6.864 6.865 6.866 99-27+ 6.861 6.860 6.860 6.861 6.862 6.862 99-28 6.858 6.858 6.858 6.858 6.858 6.859 99-28+ 6.855 6.855 6.855 6.855 6.855 6.855 99-29 6.853 6.853 6.853 6.852 6.852 6.851 99-29+ 6.850 6.851 6.850 6.849 6.848 6.848 99-30 6.847 6.848 6.848 6.846 6.845 6.844 99-30+ 6.844 6.846 6.845 6.843 6.842 6.840 99-31 6.841 6.844 6.843 6.840 6.838 6.837 99-31+ 6.839 6.841 6.840 6.837 6.835 6.833 100-00 6.836 6.839 6.838 6.834 6.832 6.829 100-00+ 6.833 6.837 6.835 6.831 6.828 6.825 100-01 6.830 6.834 6.832 6.828 6.825 6.822 100-01+ 6.828 6.832 6.830 6.825 6.822 6.818 100-02 6.825 6.830 6.827 6.822 6.818 6.814 100-02+ 6.822 6.827 6.825 6.819 6.815 6.811 100-03 6.819 6.825 6.822 6.816 6.811 6.807 100-03+ 6.817 6.823 6.820 6.813 6.808 6.803 100-04 6.814 6.820 6.817 6.810 6.805 6.800 100-04+ 6.811 6.818 6.815 6.807 6.801 6.796 100-05 6.808 6.816 6.812 6.804 6.798 6.792 100-05+ 6.805 6.813 6.810 6.801 6.795 6.788 100-06 6.803 6.811 6.807 6.798 6.791 6.785 100-06+ 6.800 6.809 6.805 6.795 6.788 6.781 100-07 6.797 6.806 6.802 6.791 6.785 6.777 100-07+ 6.794 6.804 6.800 6.788 6.781 6.774 First Payment 6.444 8.194 7.278 5.694 4.944 4.611 Average Life 7.391 9.283 8.287 6.568 5.800 5.148 Last Payment 8.444 10.444 9.361 7.528 6.694 5.944
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $25,406,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $25,406,000.00 BOND IA6 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 7.117 7.115 7.116 7.119 7.120 7.122 99-24+ 7.115 7.113 7.114 7.116 7.118 7.120 99-25 7.113 7.111 7.112 7.114 7.115 7.117 99-25+ 7.110 7.109 7.110 7.111 7.112 7.114 99-26 7.108 7.107 7.107 7.109 7.110 7.111 99-26+ 7.106 7.105 7.105 7.106 7.107 7.108 99-27 7.103 7.103 7.103 7.104 7.104 7.105 99-27+ 7.101 7.101 7.101 7.101 7.102 7.102 99-28 7.099 7.099 7.099 7.099 7.099 7.099 99-28+ 7.097 7.097 7.097 7.097 7.096 7.096 99-29 7.094 7.095 7.095 7.094 7.094 7.093 99-29+ 7.092 7.093 7.092 7.092 7.091 7.091 99-30 7.090 7.091 7.090 7.089 7.088 7.088 99-30+ 7.087 7.089 7.088 7.087 7.086 7.085 99-31 7.085 7.087 7.086 7.084 7.083 7.082 99-31+ 7.083 7.085 7.084 7.082 7.080 7.079 100-00 7.081 7.083 7.082 7.079 7.078 7.076 100-00+ 7.078 7.081 7.080 7.077 7.075 7.073 100-01 7.076 7.079 7.078 7.074 7.072 7.070 100-01+ 7.074 7.077 7.075 7.072 7.070 7.067 100-02 7.071 7.075 7.073 7.069 7.067 7.064 100-02+ 7.069 7.073 7.071 7.067 7.065 7.062 100-03 7.067 7.071 7.069 7.065 7.062 7.059 100-03+ 7.065 7.069 7.067 7.062 7.059 7.056 100-04 7.062 7.067 7.065 7.060 7.057 7.053 100-04+ 7.060 7.065 7.063 7.057 7.054 7.050 100-05 7.058 7.063 7.061 7.055 7.051 7.047 100-05+ 7.056 7.061 7.058 7.052 7.049 7.044 100-06 7.053 7.059 7.056 7.050 7.046 7.041 100-06+ 7.051 7.057 7.054 7.047 7.043 7.038 100-07 7.049 7.055 7.052 7.045 7.041 7.036 100-07+ 7.046 7.053 7.050 7.042 7.038 7.033 First Payment 8.444 10.444 9.361 7.528 6.694 5.944 Average Life 9.730 11.939 10.775 8.772 7.890 7.056 Last Payment 11.278 13.361 12.444 10.278 9.278 8.361
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $28,934,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $28,934,000.00 BOND IA7 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 7.362 7.360 7.361 7.363 7.363 7.364 99-24+ 7.360 7.359 7.359 7.360 7.361 7.362 99-25 7.358 7.357 7.357 7.358 7.359 7.359 99-25+ 7.356 7.355 7.355 7.356 7.357 7.357 99-26 7.354 7.353 7.353 7.354 7.354 7.355 99-26+ 7.352 7.351 7.351 7.352 7.352 7.352 99-27 7.350 7.349 7.349 7.350 7.350 7.350 99-27+ 7.348 7.347 7.347 7.348 7.348 7.348 99-28 7.345 7.345 7.345 7.345 7.346 7.346 99-28+ 7.343 7.344 7.343 7.343 7.343 7.343 99-29 7.341 7.342 7.342 7.341 7.341 7.341 99-29+ 7.339 7.340 7.340 7.339 7.339 7.339 99-30 7.337 7.338 7.338 7.337 7.337 7.336 99-30+ 7.335 7.336 7.336 7.335 7.334 7.334 99-31 7.333 7.334 7.334 7.333 7.332 7.332 99-31+ 7.331 7.332 7.332 7.331 7.330 7.329 100-00 7.329 7.330 7.330 7.328 7.328 7.327 100-00+ 7.327 7.328 7.328 7.326 7.326 7.325 100-01 7.325 7.327 7.326 7.324 7.323 7.322 100-01+ 7.323 7.325 7.324 7.322 7.321 7.320 100-02 7.321 7.323 7.322 7.320 7.319 7.318 100-02+ 7.319 7.321 7.320 7.318 7.317 7.315 100-03 7.317 7.319 7.318 7.316 7.314 7.313 100-03+ 7.315 7.317 7.316 7.314 7.312 7.311 100-04 7.313 7.315 7.314 7.311 7.310 7.308 100-04+ 7.311 7.313 7.312 7.309 7.308 7.306 100-05 7.309 7.312 7.310 7.307 7.306 7.304 100-05+ 7.307 7.310 7.308 7.305 7.303 7.301 100-06 7.305 7.308 7.306 7.303 7.301 7.299 100-06+ 7.303 7.306 7.304 7.301 7.299 7.297 100-07 7.301 7.304 7.302 7.299 7.297 7.295 100-07+ 7.299 7.302 7.300 7.297 7.294 7.292 First Payment 11.278 13.361 12.444 10.278 9.278 8.361 Average Life 11.679 13.361 12.444 10.964 10.293 9.662 Last Payment 11.694 13.361 12.444 11.028 10.444 9.944
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $16,534,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $16,534,000.00 BOND IM1 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 7.623 7.622 7.623 7.624 7.624 7.625 99-24+ 7.621 7.620 7.620 7.621 7.622 7.622 99-25 7.618 7.617 7.618 7.619 7.619 7.619 99-25+ 7.616 7.615 7.615 7.616 7.616 7.616 99-26 7.613 7.612 7.613 7.613 7.613 7.614 99-26+ 7.610 7.610 7.610 7.611 7.611 7.611 99-27 7.608 7.608 7.608 7.608 7.608 7.608 99-27+ 7.605 7.605 7.605 7.605 7.605 7.605 99-28 7.603 7.603 7.603 7.603 7.603 7.603 99-28+ 7.600 7.600 7.600 7.600 7.600 7.600 99-29 7.598 7.598 7.598 7.597 7.597 7.597 99-29+ 7.595 7.595 7.595 7.595 7.595 7.594 99-30 7.592 7.593 7.593 7.592 7.592 7.592 99-30+ 7.590 7.590 7.590 7.589 7.589 7.589 99-31 7.587 7.588 7.588 7.587 7.586 7.586 99-31+ 7.585 7.586 7.585 7.584 7.584 7.583 100-00 7.582 7.583 7.583 7.582 7.581 7.581 100-00+ 7.579 7.581 7.580 7.579 7.578 7.578 100-01 7.577 7.578 7.578 7.576 7.576 7.575 100-01+ 7.574 7.576 7.575 7.574 7.573 7.572 100-02 7.572 7.573 7.573 7.571 7.570 7.570 100-02+ 7.569 7.571 7.570 7.568 7.568 7.567 100-03 7.567 7.569 7.568 7.566 7.565 7.564 100-03+ 7.564 7.566 7.565 7.563 7.562 7.561 100-04 7.561 7.564 7.563 7.560 7.559 7.559 100-04+ 7.559 7.561 7.560 7.558 7.557 7.556 100-05 7.556 7.559 7.557 7.555 7.554 7.553 100-05+ 7.554 7.556 7.555 7.553 7.551 7.550 100-06 7.551 7.554 7.552 7.550 7.549 7.548 100-06+ 7.549 7.551 7.550 7.547 7.546 7.545 100-07 7.546 7.549 7.547 7.545 7.543 7.542 100-07+ 7.543 7.547 7.545 7.542 7.541 7.539 First Payment 5.028 5.028 5.028 5.028 5.028 5.028 Average Life 8.654 9.441 9.013 8.336 8.055 7.810 Last Payment 11.694 13.361 12.444 11.028 10.444 9.944
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $16,534,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $16,534,000.00 BOND IB1 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 99-24 8.831 8.830 8.830 8.831 8.831 8.831 99-24+ 8.827 8.827 8.827 8.827 8.828 8.828 99-25 8.824 8.823 8.824 8.824 8.824 8.824 99-25+ 8.820 8.820 8.820 8.820 8.821 8.821 99-26 8.817 8.817 8.817 8.817 8.817 8.817 99-26+ 8.813 8.813 8.813 8.813 8.814 8.814 99-27 8.810 8.810 8.810 8.810 8.810 8.810 99-27+ 8.806 8.807 8.806 8.806 8.806 8.806 99-28 8.803 8.803 8.803 8.803 8.803 8.803 99-28+ 8.800 8.800 8.800 8.799 8.799 8.799 99-29 8.796 8.796 8.796 8.796 8.796 8.796 99-29+ 8.793 8.793 8.793 8.793 8.792 8.792 99-30 8.789 8.790 8.789 8.789 8.789 8.789 99-30+ 8.786 8.786 8.786 8.786 8.785 8.785 99-31 8.782 8.783 8.783 8.782 8.782 8.782 99-31+ 8.779 8.780 8.779 8.779 8.778 8.778 100-00 8.775 8.776 8.776 8.775 8.775 8.775 100-00+ 8.772 8.773 8.772 8.772 8.771 8.771 100-01 8.769 8.770 8.769 8.768 8.768 8.767 100-01+ 8.765 8.766 8.766 8.765 8.764 8.764 100-02 8.762 8.763 8.762 8.761 8.761 8.760 100-02+ 8.758 8.759 8.759 8.758 8.757 8.757 100-03 8.755 8.756 8.755 8.754 8.754 8.753 100-03+ 8.751 8.753 8.752 8.751 8.750 8.750 100-04 8.748 8.749 8.749 8.747 8.747 8.746 100-04+ 8.744 8.746 8.745 8.744 8.743 8.743 100-05 8.741 8.743 8.742 8.740 8.740 8.739 100-05+ 8.738 8.739 8.738 8.737 8.736 8.736 100-06 8.734 8.736 8.735 8.733 8.733 8.732 100-06+ 8.731 8.733 8.732 8.730 8.729 8.728 100-07 8.727 8.729 8.728 8.726 8.726 8.725 100-07+ 8.724 8.726 8.725 8.723 8.722 8.721 First Payment 5.028 5.028 5.028 5.028 5.028 5.028 Average Life 6.057 6.276 6.157 5.970 5.895 5.830 Last Payment 7.278 7.694 7.444 7.111 6.944 6.778
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $28,934,000.00 COUPON: TBD vmf99bf FACTOR: 1.0000000000 ORIGINAL BALANCE: $28,934,000.00 BOND IB2 BE-YIELD TABLE PREPAYMENT SPEED
PRICING SPEED 225.0%/ 175.00%/ 200.00%/ 250.00%/ 275.00%/ 300.00%/ PRICE 250.0%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 250.00%/ 96-10 9.370 9.337 9.354 9.386 9.401 9.415 96-10+ 9.368 9.335 9.352 9.383 9.398 9.413 96-11 9.365 9.332 9.349 9.381 9.396 9.410 96-11+ 9.362 9.330 9.347 9.378 9.393 9.407 96-12 9.360 9.328 9.344 9.375 9.390 9.405 96-12+ 9.357 9.325 9.342 9.373 9.388 9.402 96-13 9.355 9.323 9.339 9.370 9.385 9.399 96-13+ 9.352 9.320 9.337 9.367 9.382 9.396 96-14 9.350 9.318 9.334 9.365 9.380 9.394 96-14+ 9.347 9.316 9.332 9.362 9.377 9.391 96-15 9.345 9.313 9.329 9.360 9.374 9.388 96-15+ 9.342 9.311 9.327 9.357 9.371 9.385 96-16 9.340 9.309 9.324 9.354 9.369 9.383 96-16+ 9.337 9.306 9.322 9.352 9.366 9.380 96-17 9.334 9.304 9.320 9.349 9.363 9.377 96-17+ 9.332 9.301 9.317 9.347 9.361 9.374 96-18 9.329 9.299 9.315 9.344 9.358 9.372 96-18+ 9.327 9.297 9.312 9.341 9.355 9.369 96-19 9.324 9.294 9.310 9.339 9.353 9.366 96-19+ 9.322 9.292 9.307 9.336 9.350 9.363 96-20 9.319 9.289 9.305 9.334 9.347 9.361 96-20+ 9.317 9.287 9.302 9.331 9.345 9.358 96-21 9.314 9.285 9.300 9.328 9.342 9.355 96-21+ 9.312 9.282 9.297 9.326 9.339 9.352 96-22 9.309 9.280 9.295 9.323 9.337 9.350 96-22+ 9.307 9.277 9.292 9.321 9.334 9.347 96-23 9.304 9.275 9.290 9.318 9.331 9.344 96-23+ 9.302 9.273 9.288 9.315 9.329 9.342 96-24 9.299 9.270 9.285 9.313 9.326 9.339 96-24+ 9.297 9.268 9.283 9.310 9.323 9.336 96-25 9.294 9.266 9.280 9.308 9.321 9.333 96-25+ 9.291 9.263 9.278 9.305 9.318 9.331 First Payment 7.278 7.694 7.444 7.111 6.944 6.778 Average Life 10.138 11.249 10.645 9.687 9.289 8.941 Last Payment 11.694 13.361 12.444 11.028 10.444 9.944
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $81,547,000.00 CURRENT COUPON: TBD vmf99ba FACTOR: 1.0000000000 ORIGINAL BALANCE: $81,547,000.00 BOND IIA1 DISCOUNT MARGIN ACT/360 TABLE ASSUMED CONSTANT LIBOR-1M 4.9138
PRICING SPEED 225.0%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ PRICE 250.0%/ 200.00%/ 225.00%/ 275.00%/ 300.00%/ 325.00%/ 99-24 30.944 29.882 30.385 31.572 32.287 33.115 99-24+ 30.446 29.451 29.922 31.035 31.706 32.481 99-25 29.949 29.020 29.460 30.498 31.124 31.848 99-25+ 29.451 28.589 28.998 29.961 30.542 31.215 99-26 28.954 28.158 28.535 29.425 29.961 30.582 99-26+ 28.457 27.728 28.073 28.889 29.380 29.949 99-27 27.960 27.297 27.611 28.352 28.799 29.316 99-27+ 27.464 26.867 27.150 27.816 28.219 28.684 99-28 26.967 26.437 26.688 27.281 27.638 28.051 99-28+ 26.471 26.007 26.227 26.745 27.058 27.419 99-29 25.974 25.577 25.765 26.209 26.477 26.787 99-29+ 25.478 25.147 25.304 25.674 25.897 26.156 99-30 24.982 24.717 24.843 25.139 25.318 25.524 99-30+ 24.487 24.288 24.382 24.604 24.738 24.893 99-31 23.991 23.858 23.921 24.069 24.158 24.262 99-31+ 23.495 23.429 23.461 23.535 23.579 23.631 100-00 23.000 23.000 23.000 23.000 23.000 23.000 100-00+ 22.505 22.571 22.540 22.466 22.421 22.369 100-01 22.010 22.142 22.079 21.931 21.842 21.739 100-01+ 21.515 21.713 21.619 21.397 21.264 21.109 100-02 21.020 21.285 21.159 20.864 20.685 20.479 100-02+ 20.525 20.856 20.699 20.330 20.107 19.849 100-03 20.031 20.428 20.240 19.796 19.529 19.220 100-03+ 19.537 19.999 19.780 19.263 18.951 18.590 100-04 19.042 19.571 19.321 18.730 18.373 17.961 100-04+ 18.548 19.143 18.861 18.197 17.796 17.332 100-05 18.055 18.715 18.402 17.664 17.219 16.703 100-05+ 17.561 18.287 17.943 17.131 16.641 16.074 100-06 17.067 17.860 17.484 16.599 16.064 15.446 100-06+ 16.574 17.432 17.025 16.066 15.488 14.818 100-07 16.081 17.004 16.567 15.534 14.911 14.190 100-07+ 15.587 16.577 16.108 15.002 14.334 13.562 First Payment 0.028 0.028 0.028 0.028 0.028 0.028 Average Life 3.667 4.311 3.982 3.365 3.072 2.785 Last Payment 11.694 12.028 11.861 11.528 11.361 11.278
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $11,349,000.00 CURRENT COUPON: TBD vmf99ba FACTOR: 1.0000000000 ORIGINAL BALANCE: $11,349,000.00 BOND IIB1 DISCOUNT MARGIN ACT/360 TABLE ASSUMED CONSTANT LIBOR-1M 4.9138
PRICING SPEED 225.0%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ PRICE 250.0%/ 200.00%/ 225.00%/ 275.00%/ 300.00%/ 325.00%/ 99-24 49.928 49.643 49.845 49.910 49.877 49.839 99-24+ 49.619 49.352 49.542 49.603 49.572 49.536 99-25 49.311 49.062 49.239 49.296 49.267 49.233 99-25+ 49.003 48.771 48.936 48.989 48.962 48.930 99-26 48.695 48.481 48.633 48.681 48.656 48.628 99-26+ 48.386 48.190 48.330 48.374 48.351 48.325 99-27 48.078 47.900 48.027 48.067 48.047 48.023 99-27+ 47.770 47.610 47.724 47.760 47.742 47.720 99-28 47.462 47.320 47.421 47.453 47.437 47.418 99-28+ 47.154 47.029 47.118 47.147 47.132 47.115 99-29 46.846 46.739 46.815 46.840 46.827 46.813 99-29+ 46.538 46.449 46.513 46.533 46.523 46.511 99-30 46.231 46.159 46.210 46.226 46.218 46.208 99-30+ 45.923 45.869 45.907 45.920 45.913 45.906 99-31 45.615 45.580 45.605 45.613 45.609 45.604 99-31+ 45.308 45.290 45.302 45.306 45.304 45.302 100-00 45.000 45.000 45.000 45.000 45.000 45.000 100-00+ 44.692 44.710 44.698 44.694 44.696 44.698 100-01 44.385 44.421 44.395 44.387 44.391 44.396 100-01+ 44.078 44.131 44.093 44.081 44.087 44.094 100-02 43.770 43.841 43.791 43.775 43.783 43.792 100-02+ 43.463 43.552 43.489 43.468 43.479 43.491 100-03 43.156 43.262 43.187 43.162 43.175 43.189 100-03+ 42.848 42.973 42.885 42.856 42.871 42.887 100-04 42.541 42.684 42.583 42.550 42.567 42.586 100-04+ 42.234 42.394 42.281 42.244 42.263 42.284 100-05 41.927 42.105 41.979 41.938 41.959 41.983 100-05+ 41.620 41.816 41.677 41.632 41.655 41.681 100-06 41.313 41.527 41.375 41.326 41.351 41.380 100-06+ 41.006 41.238 41.074 41.021 41.048 41.079 100-07 40.700 40.949 40.772 40.715 40.744 40.777 100-07+ 40.393 40.660 40.470 40.409 40.440 40.476 First Payment 5.028 5.028 5.028 5.111 5.111 5.111 Average Life 5.862 6.310 5.987 5.885 5.933 5.989 Last Payment 7.028 8.278 7.611 6.778 6.861 6.944
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $6,071,000.00 CURRENT COUPON: TBD vmf99ba FACTOR: 1.0000000000 ORIGINAL BALANCE: $6,071,000.00 BOND IIB2 DISCOUNT MARGIN ACT/360 TABLE ASSUMED CONSTANT LIBOR-1M 4.9138
PRICING SPEED 225.0%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ PRICE 250.0%/ 200.00%/ 225.00%/ 275.00%/ 300.00%/ 325.00%/ 99-24 238.979 238.560 238.764 239.186 239.282 239.244 99-24+ 238.730 238.338 238.529 238.924 239.014 238.978 99-25 238.481 238.115 238.293 238.662 238.746 238.713 99-25+ 238.232 237.892 238.057 238.400 238.478 238.447 99-26 237.983 237.669 237.822 238.139 238.210 238.182 99-26+ 237.734 237.447 237.587 237.877 237.942 237.916 99-27 237.485 237.224 237.351 237.615 237.675 237.651 99-27+ 237.237 237.001 237.116 237.353 237.407 237.386 99-28 236.988 236.779 236.881 237.092 237.139 237.120 99-28+ 236.739 236.556 236.645 236.830 236.872 236.855 99-29 236.491 236.334 236.410 236.568 236.604 236.590 99-29+ 236.242 236.111 236.175 236.307 236.337 236.325 99-30 235.994 235.889 235.940 236.045 236.069 236.060 99-30+ 235.745 235.667 235.705 235.784 235.802 235.795 99-31 235.497 235.444 235.470 235.523 235.535 235.530 99-31+ 235.248 235.222 235.235 235.261 235.267 235.265 100-00 235.000 235.000 235.000 235.000 235.000 235.000 100-00+ 234.752 234.778 234.765 234.739 234.733 234.735 100-01 234.503 234.556 234.530 234.478 234.466 234.470 100-01+ 234.255 234.334 234.296 234.216 234.199 234.206 100-02 234.007 234.112 234.061 233.955 233.932 233.941 100-02+ 233.759 233.890 233.826 233.694 233.665 233.676 100-03 233.511 233.668 233.591 233.433 233.398 233.412 100-03+ 233.263 233.446 233.357 233.172 233.131 233.147 100-04 233.015 233.224 233.122 232.912 232.864 232.883 100-04+ 232.767 233.002 232.888 232.651 232.597 232.618 100-05 232.519 232.780 232.653 232.390 232.330 232.354 100-05+ 232.271 232.559 232.419 232.129 232.064 232.090 100-06 232.024 232.337 232.185 231.869 231.797 231.826 100-06+ 231.776 232.115 231.950 231.608 231.530 231.561 100-07 231.528 231.894 231.716 231.347 231.264 231.297 100-07+ 231.281 231.672 231.482 231.087 230.997 231.033 First Payment 7.028 8.278 7.611 6.778 6.861 6.944 Average Life 8.336 9.759 9.009 7.774 7.530 7.619 Last Payment 9.944 11.444 10.694 9.278 8.611 8.361
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. CURRENT BALANCE: $6,598,000.00 CURRENT COUPON: TBD vmf99ba FACTOR: 1.0000000000 ORIGINAL BALANCE: $6,598,000.00 BOND IIB3 DISCOUNT MARGIN ACT/360 TABLE ASSUMED CONSTANT LIBOR-1M 4.9138
PRICING SPEED 225.0%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ 225.00%/ PRICE 250.0%/ 200.00%/ 225.00%/ 275.00%/ 300.00%/ 325.00%/ 99-24 278.279 278.170 278.218 278.356 278.445 278.533 99-24+ 278.074 277.972 278.016 278.146 278.229 278.312 99-25 277.869 277.773 277.815 277.936 278.013 278.091 99-25+ 277.664 277.575 277.614 277.726 277.798 277.870 99-26 277.459 277.377 277.412 277.516 277.582 277.649 99-26+ 277.253 277.178 277.211 277.306 277.367 277.428 99-27 277.048 276.980 277.010 277.096 277.152 277.207 99-27+ 276.843 276.782 276.809 276.886 276.936 276.986 99-28 276.638 276.584 276.608 276.677 276.721 276.765 99-28+ 276.433 276.386 276.406 276.467 276.506 276.544 99-29 276.229 276.188 276.205 276.257 276.290 276.324 99-29+ 276.024 275.990 276.004 276.048 276.075 276.103 99-30 275.819 275.792 275.803 275.838 275.860 275.882 99-30+ 275.614 275.594 275.603 275.628 275.645 275.662 99-31 275.409 275.396 275.402 275.419 275.430 275.441 99-31+ 275.205 275.198 275.201 275.209 275.215 275.220 100-00 275.000 275.000 275.000 275.000 275.000 275.000 100-00+ 274.795 274.802 274.799 274.791 274.785 274.780 100-01 274.591 274.604 274.599 274.581 274.570 274.559 100-01+ 274.386 274.407 274.398 274.372 274.355 274.339 100-02 274.182 274.209 274.197 274.163 274.141 274.119 100-02+ 273.977 274.011 273.997 273.953 273.926 273.898 100-03 273.773 273.814 273.796 273.744 273.711 273.678 100-03+ 273.569 273.616 273.596 273.535 273.496 273.458 100-04 273.364 273.419 273.395 273.326 273.282 273.238 100-04+ 273.160 273.221 273.195 273.117 273.067 273.018 100-05 272.956 273.024 272.994 272.908 272.853 272.798 100-05+ 272.752 272.826 272.794 272.699 272.638 272.578 100-06 272.547 272.629 272.594 272.490 272.424 272.358 100-06+ 272.343 272.432 272.393 272.281 272.209 272.138 100-07 272.139 272.234 272.193 272.072 271.995 271.918 100-07+ 271.935 272.037 271.993 271.864 271.781 271.698 First Payment 9.944 11.444 10.694 9.278 8.611 8.361 Average Life 11.359 11.993 11.708 10.962 10.538 10.149 Last Payment 11.694 12.028 11.861 11.528 11.361 11.278
THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. - ------------------------------------------------------------------------------- - Vanderbilt 99B - Cut Off Date of Tape is 4/26/99 - Fixed-rate - $413,342,481.26 - Mortgage Summary Report - ------------------------------------------------------------------------------- Number of Mortgage Loans: 13,236 Aggregate Unpaid Principal Balance: $413,342,481.26 Aggregate Original Principal Balance: $436,602,851.23 Weighted Average Gross Coupon: 10.446% Gross Coupon Range: 7.000% - 18.000% - -------------------------------------------------------------------------------- Average Unpaid Principal Balance: $31,228.66 Average Original Principal Balance: $32,986.01 Maximum Unpaid Principal Balance: $250,017.00 Minimum Unpaid Principal Balance: $4,051.36 Maximum Original Principal Balance: $250,321.36 Minimum Original Principal Balance: $4,698.00 Weighted Avg. Stated Rem. Term (PTD to Mat Date): 242.455 Stated Rem Term Range: 33.000 - 360.000 Weighted Average Age : 19.419 Age Range: 0.000 - 132.000 Weighted Average Original Term: 261.873 Original Term Range: 36.000 - 360.000 Weighted Average Original LTV: 87.365 Original LTV Range: 16.864% - 100.000% - ------------------------------------------------------------------------------- Greatest Zip Code Concentration Zip 76009 26 loans $1,074,953.68 0.26% New 80.34% $332,071,572 Used 19.66% $81,270,910 Multi-section 50.80% $209,993,782 Single-section 48.68% $201,201,153 Site Built .52% $2,147,546 Not Parked 72.42% $299,344,769 Parked 21.27% $87,907,886 Site Built .52% $2,147,546 Not available (21C) 5.79% $23,942,279 THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Geographical Distribution of Manufactured Homes as of Origination - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal State Loans Balance Balance Alaska 1 40,265 0.01 Alabama 459 12,848,410 3.11 Arkansas 267 8,757,468 2.12 Arizona 410 19,059,986 4.61 California 34 1,726,780 0.42 Colorado 194 7,717,106 1.87 Connecticut 1 74,500 0.02 Dist of Col 1 13,553 0.00 Delaware 40 1,363,132 0.33 Florida 616 19,859,204 4.80 Georgia 538 16,545,638 4.00 Iowa 74 3,217,634 0.78 Idaho 8 386,919 0.09 Illinois 91 3,404,338 0.82 Indiana 114 3,236,693 0.78 Kansas 63 2,545,974 0.62 Kentucky 491 11,963,643 2.89 Louisiana 401 12,922,172 3.13 Maryland 30 843,825 0.20 Maine 4 274,337 0.07 Michigan 235 8,710,155 2.11 Minnesota 63 2,680,730 0.65 Missouri 299 9,852,358 2.38 Mississippi 176 5,093,914 1.23 Montana 4 141,138 0.03 North Carolina 1921 58,047,783 14.04 North Dakota 4 122,539 0.03 Nebraska 1 21,123 0.01 New Jersey 8 296,711 0.07 New Mexico 291 9,873,122 2.39 Nevada 19 1,136,714 0.28 New York 45 1,415,446 0.34 Ohio 264 8,038,781 1.94 Oklahoma 130 4,300,777 1.04 Oregon 44 1,977,101 0.48 Pennsylvania 45 1,589,328 0.38 South Carolina 1450 41,903,051 10.14 South Dakota 1 37,006 0.01 Tennessee 1102 28,587,994 6.92 Texas 2447 77,568,986 18.77 Utah 9 373,955 0.09 Virginia 672 18,520,517 4.48 Washington 26 1,179,188 0.29 Wisconsin 63 2,450,656 0.59 West Virginia 69 2,285,107 0.55 Wyoming 11 336,722 0.08 - -------------------------------------------------------------------------- Total............... 13236 $ 413,342,481 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Years of Origination of Contracts - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Year of Mortgage Principal Principal Origination Loans Balance Balance 1982 1 15,700 0.00 1986 1 18,387 0.00 1988 1 8,920 0.00 1989 1 12,717 0.00 1990 9 119,973 0.03 1991 16 283,942 0.07 1992 21 398,360 0.10 1993 2349 44,391,604 10.74 1994 11 239,778 0.06 1995 40 1,131,955 0.27 1996 3490 107,840,765 26.09 1997 1522 48,042,601 11.62 1998 1767 81,200,182 19.64 1999 4007 129,637,599 31.36 - -------------------------------------------------------------------------- Total................. 13236 $413,342,481 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Distribution of Original Amounts - Group I Contracts
Percentage of Aggregate Cut-Off Date Original Number of Unpaid Aggregate Mortgage Loan Mortgage Principal Principal Principal Balance Loans Balance Balance $ 0.01 Balance = $ 5,000.00 1 4,693 0.00 $ 5,000.01 Balance = $ 10,000.00 174 1,317,881 0.32 $ 10,000.01 Balance = $ 15,000.00 695 7,891,371 1.91 $ 15,000.01 Balance = $ 20,000.00 1,412 21,657,302 5.24 $ 20,000.01 Balance = $ 25,000.00 2,279 46,071,646 11.15 $ 25,000.01 Balance = $ 30,000.00 2,445 62,278,255 15.07 $ 30,000.01 Balance = $ 35,000.00 1,907 58,830,058 14.23 $ 35,000.01 Balance = $ 40,000.00 1,160 41,660,576 10.08 $ 40,000.01 Balance = $ 45,000.00 886 36,124,727 8.74 $ 45,000.01 Balance = $ 50,000.00 656 30,212,362 7.31 $ 50,000.01 Balance = $ 55,000.00 450 22,930,046 5.55 $ 55,000.01 Balance = $ 60,000.00 306 17,190,982 4.16 $ 60,000.01 Balance = $ 65,000.00 219 13,525,736 3.27 $ 65,000.01 Balance = $ 70,000.00 158 10,558,597 2.55 $ 70,000.01 Balance = $ 75,000.00 120 8,618,956 2.09 $ 75,000.01 Balance = $ 80,000.00 75 5,746,378 1.39 $ 80,000.01 Balance = $ 85,000.00 62 5,083,353 1.23 $ 85,000.01 Balance = $ 90,000.00 52 4,492,333 1.09 $ 90,000.01 Balance = $ 95,000.00 47 4,303,740 1.04 $ 95,000.01 Balance = $100,000.00 30 2,881,412 0.70 $100,000.01 Balance = $105,000.00 23 2,331,820 0.56 $105,000.01 Balance = $110,000.00 19 2,034,947 0.49 $110,000.01 Balance = $115,000.00 13 1,451,413 0.35 $115,000.01 Balance = $120,000.00 10 1,154,251 0.28 $120,000.01 Balance = $125,000.00 12 1,456,468 0.35 $125,000.01 Balance = $130,000.00 4 507,935 0.12 $130,000.01 Balance = $135,000.00 5 655,821 0.16 $135,000.01 Balance = $140,000.00 5 671,991 0.16 $140,000.01 Balance = $145,000.00 7 990,751 0.24 $145,000.01 Balance = $150,000.00 1 144,492 0.03 $150,000.01 Balance = $155,000.00 1 151,484 0.04 $160,000.01 Balance = $165,000.00 1 160,686 0.04 Balance > $170,000.00 1 250,017 0.06 - ----------------------------------------------------------------------------------------- Total.................... 13236 $413,342,481 100.00% =========================================================================================
Distribution of Original Loan-to-Value Ratios - Group I Contracts Percentage of Aggregate Cut-Off Date Original Number of Unpaid Aggregate Loan-To-Value Mortgage Principal Principal Ratio Loans Balance Balance Less than 61.000% 444 9,731,971 2.35 From 61.000% to 65.999% 293 8,393,285 2.03 From 66.000% to 70.999% 364 12,006,748 2.90 From 71.000% to 75.999% 535 17,865,630 4.32 From 76.000% to 80.999% 933 30,465,649 7.37 From 81.000% to 85.999% 1559 49,880,740 12.07 From 86.000% to 90.999% 4890 142,999,708 34.60 From 91.000% to 100.000% 4218 141,998,751 34.35 - -------------------------------------------------------------------------- Total.................... 13236 $413,342,481 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Cut-off Date Contract Rate - Group I Contracts Percentage of Aggregate Cut-Off Date Gross Mortgage Number of Unpaid Aggregate Interest Rate Mortgage Principal Principal Range Loans Balance Balance 6.001% Gross Coupon = 7.000 80 7,315,823 1.77 7.001% Gross Coupon = 8.000 223 14,824,377 3.59 8.001% Gross Coupon = 9.000 839 42,626,300 10.31 9.001% Gross Coupon = 10.000 2401 89,638,230 21.69 10.001% Gross Coupon = 11.000 4004 125,543,614 30.37 11.001% Gross Coupon = 12.000 3687 93,414,936 22.60 12.001% Gross Coupon = 13.000 1498 31,123,711 7.53 13.001% Gross Coupon = 14.000 350 6,686,535 1.62 14.001% Gross Coupon = 15.000 133 1,854,457 0.45 15.001% Gross Coupon = 16.000 15 181,928 0.04 16.001% Gross Coupon = 17.000 5 118,964 0.03 17.001% Gross Coupon = 18.000 1 13,608 0.00 - ---------------------------------------------------------------------------- Total.......... 13236 $413,342,481 100.00% ============================================================================ Remaining Months to Maturity - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Remaining Term Loans Balance Balance 12 Rem Term = 72 896 10,533,976 2.55% 72 Rem Term = 84 575 9,125,061 2.21% 84 Rem Term = 120 2,078 42,134,171 10.19% 120 Rem Term = 156 1,049 24,335,656 5.89% 156 Rem Term = 180 1,113 30,512,726 7.38% 180 Rem Term = 240 3,250 101,018,901 24.44% 240 Rem Term = 300 1,549 60,152,996 14.55% 300 Rem Term = 360 2,726 135,528,995 32.79% - ------------------------------------------------------------------- Total............ 13,236 413,342,481 100.00% =================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Distribution of Model Years - Group I Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Model Year Loans Balance Balance 1965 1 6,888 0.00 1966 1 16,942 0.00 1968 1 57,052 0.01 1970 5 55,861 0.01 1971 9 157,164 0.04 1972 13 172,556 0.04 1973 10 192,824 0.05 1974 17 268,092 0.06 1975 9 132,379 0.03 1976 14 142,804 0.03 1977 23 318,307 0.08 1978 26 367,205 0.09 1979 52 771,957 0.19 1980 52 766,063 0.19 1981 56 832,893 0.20 1982 72 922,741 0.22 1983 90 1,246,919 0.30 1984 133 1,941,249 0.47 1985 147 2,119,166 0.51 1986 105 1,853,907 0.45 1987 118 1,961,141 0.47 1988 126 2,364,772 0.57 1989 143 2,788,473 0.67 1990 141 2,839,669 0.69 1991 201 4,066,434 0.98 1992 327 6,850,575 1.66 1993 1819 37,154,457 8.99 1994 612 14,904,467 3.61 1995 795 23,142,376 5.60 1996 2624 83,793,195 20.27 1997 2407 85,400,597 20.66 1998 1687 72,036,674 17.43 1999 1400 63,696,679 15.41 - -------------------------------------------------------------------------- Total................. 13236 $413,342,481 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. - -------------------------------------------------------------------------------- - Vanderbilt 99B - Cut Off Date of Tape is 4/26/99 - Adjustable-rate - $105,565,830.29 - -------------------------------------------------------------------------------- Number of Mortgage Loans: 2,957 Index: 5 Yr. CMT, 1 Yr. CMT Aggregate Unpaid Principal Balance: $105,565,830.29 Aggregate Original Principal Balance: $106,019,813.64 - -------------------------------------------------------------------------------- Weighted Average Coupon (Gross): 10.716% Gross Coupon Range: 7.990% - 18.500% Weighted Average Margin (Gross): 5.995% Gross Margin Range: 3.030% - 13.540% Weighted Average Life Cap (Gross): 16.472% Gross Life Cap Range: 12.990% - 24.500% Weighted Average Life Floor (Gross): 5.995% Gross Life Floor Range: 3.030% - 13.540% Average Unpaid Principal Balance: $35,700.31 Average Original Principal Balance: $35,853.84 Maximum Unpaid Principal Balance: $122,785.87 Minimum Unpaid Principal Balance: $4,146.05 Maximum Original Principal Balance: $123,179.00 Minimum Original Principal Balance: $4,383.02 Weighted Avg. Stated Rem. Term (PTD to Mat Date): 217.281 Stated Rem Term Range: 48.000 - 360.000 Weighted Average Age (First Pay thru Paid Thru): 0.657 Age Range: 0.000 - 131.000 Weighted Average Original Term: 217.939 Original Term Range: 48.000 - 360.000 Weighted Average Original LTV: 86.574 Original LTV Range: 22.623% - 100.000% Weighted Average Periodic Interest Cap: 1.570% Periodic Interest Cap Range: 1.000% - 2.000% Weighted Average Months to Interest Roll: 10.328 Months to Interest Roll Range: 0 - 13 Weighted Average Interest Roll Frequency: 11.996 Interest Frequency Range: 6 - 12 - -------------------------------------------------------------------------------- Greatest Zip Code Concentration Zip 76208 26 loans $827,602.59 0.78% New 72.71% $76,754,339 Used 27.29% $28,811,491 Multi-section 48.71% $51,418,196 Single-section 51.29% $54,147,634 Not Parked 65.11% $68,737,375 Parked 34.89% $36,828,455 THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Geographical Distribution of Manufactured Homes as of Origination - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal State Loans Balance Balance Alabama 45 1,382,504 1.31 Arkansas 25 783,361 0.74 Arizona 15 673,936 0.64 California 1 24,323 0.02 Colorado 13 443,351 0.42 Connecticut 1 44,908 0.04 Dist of Col 1 40,129 0.04 Delaware 8 357,283 0.34 Florida 129 4,455,490 4.22 Georgia 66 2,242,290 2.12 Illinois 1 22,975 0.02 Indiana 18 725,053 0.69 Kansas 2 58,951 0.06 Kentucky 235 7,471,870 7.08 Louisiana 142 4,650,850 4.41 Maryland 7 286,553 0.27 Missouri 21 764,014 0.72 Mississippi 29 952,772 0.90 North Carolina 549 22,030,257 20.87 New Jersey 2 104,183 0.10 New Mexico 17 664,484 0.63 New York 3 161,932 0.15 Ohio 14 431,863 0.41 Oklahoma 11 410,086 0.39 Pennsylvania 5 167,820 0.16 South Carolina 316 12,062,290 11.43 Tennessee 541 18,656,787 17.67 Texas 533 17,665,749 16.73 Virginia 192 7,324,540 6.94 West Virginia 15 505,229 0.48 - -------------------------------------------------------------------------- Total............... 2957 $ 105,565,830 100.00% ========================================================================== Years of Origination of Contracts - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Year of Mortgage Principal Principal Origination Loans Balance Balance 1988 3 30,762 0.03 1989 2 33,671 0.03 1996 1 4,146 0.00 1997 1 25,471 0.02 1998 24 1,221,085 1.16 1999 2926 104,250,696 98.75 - -------------------------------------------------------------------------- Total................. 2957 $105,565,830 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Distribution of Original Amounts - Group II Contracts
Percentage of Aggregate Cut-Off Date Original Number of Unpaid Aggregate Mortgage Loan Mortgage Principal Principal Principal Balance Loans Balance Balance $ 0.01 Balance = $ 5,000.00 1 4,263 0.00 $ 5,000.01 Balance = $ 10,000.00 46 376,182 0.36 $ 10,000.01 Balance = $ 15,000.00 132 1,639,202 1.55 $ 15,000.01 Balance = $ 20,000.00 220 3,835,966 3.63 $ 20,000.01 Balance = $ 25,000.00 349 7,847,544 7.43 $ 25,000.01 Balance = $ 30,000.00 481 13,248,305 12.55 $ 30,000.01 Balance = $ 35,000.00 500 16,108,841 15.26 $ 35,000.01 Balance = $ 40,000.00 309 11,439,911 10.84 $ 40,000.01 Balance = $ 45,000.00 205 8,664,503 8.21 $ 45,000.01 Balance = $ 50,000.00 177 8,305,270 7.87 $ 50,000.01 Balance = $ 55,000.00 156 8,179,337 7.75 $ 55,000.01 Balance = $ 60,000.00 118 6,775,328 6.42 $ 60,000.01 Balance = $ 65,000.00 74 4,615,510 4.37 $ 65,000.01 Balance = $ 70,000.00 68 4,577,442 4.34 $ 70,000.01 Balance = $ 75,000.00 41 2,958,753 2.80 $ 75,000.01 Balance = $ 80,000.00 28 2,168,131 2.05 $ 80,000.01 Balance = $ 85,000.00 15 1,233,397 1.17 $ 85,000.01 Balance = $ 90,000.00 13 1,134,775 1.07 $ 90,000.01 Balance = $ 95,000.00 7 641,751 0.61 $ 95,000.01 Balance = $100,000.00 3 293,673 0.28 $100,000.01 Balance = $105,000.00 5 509,080 0.48 $105,000.01 Balance = $110,000.00 5 537,237 0.51 $110,000.01 Balance = $115,000.00 1 109,471 0.10 $115,000.01 Balance = $120,000.00 1 118,574 0.11 $120,000.01 Balance = $125,000.00 2 243,387 0.23 - ----------------------------------------------------------------------------------------- Total.................... 2957 $105,565,830 100.00% =========================================================================================
Distribution of Original Loan-to-Value Ratios - Group I Contracts Percentage of Aggregate Cut-Off Date Original Number of Unpaid Aggregate Loan-To-Value Mortgage Principal Principal Ratio Loans Balance Balance Less than 61.000% 90 2,535,885 2.40 From 61.000% to 65.999% 66 2,279,867 2.16 From 66.000% to 70.999% 78 3,106,405 2.94 From 71.000% to 75.999% 156 6,202,899 5.88 From 76.000% to 80.999% 212 8,360,353 7.92 From 81.000% to 85.999% 403 14,593,754 13.82 From 86.000% to 90.999% 916 32,073,041 30.38 From 91.000% to 100.000% 1036 36,413,626 34.49 - -------------------------------------------------------------------------- Total.................... 2957 $105,565,830 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Cut-off Date Contract Rate - Group II Contracts Percentage of Aggregate Cut-Off Date Gross Mortgage Number of Unpaid Aggregate Interest Rate Mortgage Principal Principal Range Loans Balance Balance 7.001% Gross Coupon = 8.000 12 798,381 0.76 8.001% Gross Coupon = 9.000 132 6,722,814 6.37 9.001% Gross Coupon = 10.000 875 34,511,694 32.69 10.001% Gross Coupon = 11.000 510 18,813,296 17.82 11.001% Gross Coupon = 12.000 1053 34,316,418 32.51 12.001% Gross Coupon = 13.000 244 6,847,303 6.49 13.001% Gross Coupon = 14.000 122 3,390,068 3.21 14.001% Gross Coupon = 15.000 8 159,100 0.15 18.001% Gross Coupon = 19.000 1 6,756 0.01 - ---------------------------------------------------------------------------- Total.......... 2957 $105,565,830 100.00% ============================================================================ Remaining Months to Maturity - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Remaining Term Loans Balance Balance 12 Rem Term = 72 57 610,135 0.58% 72 Rem Term = 84 91 1,434,059 1.36% 84 Rem Term = 120 217 4,604,411 4.36% 120 Rem Term = 156 437 11,257,457 10.66% 156 Rem Term = 180 466 13,718,886 13.00% 180 Rem Term = 240 1,191 45,955,796 43.53% 240 Rem Term = 300 420 22,986,187 21.77% 300 Rem Term = 360 78 4,998,898 4.74% - ------------------------------------------------------------------- Total............ 2,957 105,565,830 100.00% =================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Distribution of Lifetime Floor - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Gross Mortgage Principal Principal Life Floor Loans Balance Balance 3.001 Life Floor = 3.500 12 836,804 0.79 3.501 Life Floor = 4.000 43 2,212,849 2.10 4.001 Life Floor = 4.500 115 5,333,676 5.05 4.501 Life Floor = 5.000 238 10,112,370 9.58 5.001 Life Floor = 5.500 509 19,911,332 18.86 5.501 Life Floor = 6.000 431 16,465,099 15.60 6.001 Life Floor = 6.500 329 10,876,795 10.30 6.501 Life Floor = 7.000 432 14,654,232 13.88 7.001 Life Floor = 7.500 424 13,202,665 12.51 7.501 Life Floor = 8.000 232 6,754,179 6.40 8.001 Life Floor = 8.500 85 2,410,819 2.28 8.501 Life Floor = 9.000 74 2,051,406 1.94 9.001 Life Floor = 9.500 21 517,021 0.49 9.501 Life Floor = 10.000 6 105,647 0.10 10.001 Life Floor = 10.500 4 83,465 0.08 11.001 Life Floor = 11.500 1 30,715 0.03 13.501 Life Floor = 14.000 1 6,756 0.01 - -------------------------------------------------------------------------- Total................. 2957 $105,565,830 100.00% ========================================================================== Distribution of Lifetime Cap - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Gross Mortgage Principal Principal Life CAP Loans Balance Balance Life CAP = 0.000 6 249,997 0.24 12.501 Life CAP = 13.000 1 41,544 0.04 13.001 Life CAP = 13.500 4 211,268 0.20 13.501 Life CAP = 14.000 25 1,261,222 1.19 14.001 Life CAP = 14.500 58 2,602,715 2.47 14.501 Life CAP = 15.000 176 7,608,545 7.21 15.001 Life CAP = 15.500 288 11,747,789 11.13 15.501 Life CAP = 16.000 600 23,285,151 22.06 16.001 Life CAP = 16.500 404 15,039,508 14.25 16.501 Life CAP = 17.000 217 7,108,491 6.73 17.001 Life CAP = 17.500 472 15,432,632 14.62 17.501 Life CAP = 18.000 419 13,123,436 12.43 18.001 Life CAP = 18.500 148 4,280,805 4.06 18.501 Life CAP = 19.000 39 1,125,505 1.07 19.001 Life CAP = 19.500 68 1,789,312 1.69 19.501 Life CAP = 20.000 23 536,917 0.51 20.001 Life CAP = 20.500 6 87,887 0.08 20.501 Life CAP = 21.000 1 14,532 0.01 21.001 Life CAP = 21.500 1 11,819 0.01 24.001 Life CAP = 24.500 1 6,756 0.01 - -------------------------------------------------------------------------- Total................. 2957 $105,565,830 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Distribution of Gross Margin - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Gross Mortgage Principal Principal Gross Margin Loans Balance Balance 3.001 Gross Margin = 3.500 12 836,804 0.79 3.501 Gross Margin = 4.000 43 2,212,849 2.10 4.001 Gross Margin = 4.500 115 5,333,676 5.05 4.501 Gross Margin = 5.000 238 10,112,370 9.58 5.001 Gross Margin = 5.500 509 19,911,332 18.86 5.501 Gross Margin = 6.000 431 16,465,099 15.60 6.001 Gross Margin = 6.500 329 10,876,795 10.30 6.501 Gross Margin = 7.000 432 14,654,232 13.88 7.001 Gross Margin = 7.500 424 13,202,665 12.51 7.501 Gross Margin = 8.000 232 6,754,179 6.40 8.001 Gross Margin = 8.500 85 2,410,819 2.28 8.501 Gross Margin = 9.000 74 2,051,406 1.94 9.001 Gross Margin = 9.500 21 517,021 0.49 9.501 Gross Margin = 10.000 6 105,647 0.10 10.001 Gross Margin = 10.500 4 83,465 0.08 11.001 Gross Margin = 11.500 1 30,715 0.03 13.501 Gross Margin = 14.000 1 6,756 0.01 - -------------------------------------------------------------------------- Total................. 2957 $105,565,830 100.00% ========================================================================== NEXT INTEREST ROLLDATE Percentage of Cut-Off Aggregate Date Next Number of Unpaid Aggregate Roll Mortgage Principal Principal Date Loans Balance Balance 05/01/99 3 $70,604 00.07 06/01/99 1 $11,819 00.01 08/01/99 4 $105,368 00.10 09/01/99 3 $91,851 00.09 11/01/99 7 $265,884 00.25 12/01/99 6 $392,076 00.37 01/01/00 23 $1,128,315 01.07 02/01/00 628 $21,170,885 20.05 03/01/00 1019 $35,349,364 33.49 04/01/00 951 $35,129,048 33.28 05/01/00 213 $8,327,235 07.89 06/01/00 99 $3,523,381 03.34 - ------------------------------------------------------------------------- Total........ 2957 $105,565,830 100.00% ========================================================================= THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Distribution of Periodic Cap - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Periodic Mortgage Principal Principal Cap Loans Balance Balance 0.000 6 249,997 0.24 1.000 1229 44,887,701 42.52 2.000 1722 60,428,132 57.24 - -------------------------------------------------------------------------- Total................. 2957 $105,565,830 100.00% ========================================================================== Index - -------------------------------------------------------------------- Total # % Current Loan Pool Balance 1 Yr. CMT 6 .24 $249,997.27 5 Yr. CMT 2,951 99.76 $105,315,833.02 - -------------------------------------------------------------------- Total..... 2,957 100.00% $105,565,830.29 ==================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. Distribution of Model Years - Group II Contracts Percentage of Aggregate Cut-Off Date Number of Unpaid Aggregate Mortgage Principal Principal Model Year Loans Balance Balance 1967 1 4,263 0.00 1971 1 18,137 0.02 1972 4 40,547 0.04 1973 1 12,987 0.01 1974 1 11,500 0.01 1975 3 35,671 0.03 1976 5 82,110 0.08 1977 3 36,262 0.03 1978 9 102,769 0.10 1979 5 51,473 0.05 1980 6 67,455 0.06 1981 10 167,415 0.16 1982 17 220,023 0.21 1983 30 493,892 0.47 1984 24 335,724 0.32 1985 37 573,562 0.54 1986 35 596,578 0.57 1987 24 383,991 0.36 1988 22 384,910 0.36 1989 30 562,156 0.53 1990 33 666,583 0.63 1991 39 862,301 0.82 1992 35 774,412 0.73 1993 60 1,428,684 1.35 1994 75 1,955,132 1.85 1995 120 3,555,870 3.37 1996 244 7,535,500 7.14 1997 196 6,956,884 6.59 1998 468 17,648,464 16.72 1999 1419 60,000,577 56.84 - -------------------------------------------------------------------------- Total................. 2957 $105,565,830 100.00% ========================================================================== THIS INFORMATION DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES REFERRED TO HEREIN. INFORMATION CONTAINED HEREIN IS CONFIDENTIAL AND PROVIDED FOR INFORMATION ONLY, DOES NOT PURPORT TO BE COMPLETE AND SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY DECISION TO PURCHASE THE SECURITIES. THIS INFORMATION SUPERSEDES ANY PRIOR VERSIONS HEREOF AND WILL BE DEEMED TO BE SUPERSEDED BY ANY SUBSEQUENT VERSIONS INCLUDING, WITH RESPECT TO ANY DESCRIPTION OF THE SECURITIES OR THE UNDERLYING ASSETS, THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT. OFFERS TO SELL AND SOLICITATIONS OF OFFERS TO BUY THE SECURITIES ARE MADE ONLY BY THE FINAL PROSPECTUS SUPPLEMENT AND THE RELATED PROSPECTUS. -----END PRIVACY-ENHANCED MESSAGE-----