ACE Securities Corp. Home Equity Loan Trust Series 2007-SL1 | FREE WRITING PROSPECTUS |
The following is a free writing prospectus. The information in this free writing prospectus is preliminary and is subject to completion or change.
FREE WRITING PROSPECTUS |
ACE Securities Corp. |
$351,623,000(Approximate) |
Home Equity Loan Trust Series 2007-SL1 |
ACE Securities Corp. (Depositor) ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 (Issuing Entity) |
![]() |
February 20, 2007
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
The analysis in this report is based on information provided by ACE Securities Corp. (the “Depositor”). Investors are urged to read the base prospectus and the prospectus supplement and other relevant documents filed or to be filed with the Securities and Exchange Commission because they contain important information. Such documents may be obtained without charge at the Securities and Exchange Commission’s website. Once available, the base prospectus and prospectus supplement may be obtained without charge by contacting Deutsche Bank Securities, Inc.’s (“DBSI”) trading desk at (212) 250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement (collectively, the “Prospectus”). The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted. You should consult your own counsel, accountant, and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities.
The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared by DBSI in reliance upon information furnished by the Depositor. Numerous assumptions were used in preparing the Computational Materials that may or may not be reflected herein. As such, no assurance can be given as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfalls. The specific characteristics of the securities may differ from those shown in the Computational Materials by a permitted variance of +/- 10% prior to issuance. Neither DBSI nor any of its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or the payments or yield on the securities.
An investor or potential investor in the certificates (and each employee, representative, or other agent of such person or entity) may disclose to any and all persons, without limitation, the tax treatment and tax structure of the transaction (as defined in United States Treasury Regulation Section 1.6011-4) and all related materials of any kind, including opinions or other tax analyses, that are provided to such person or entity. However, such person or entity may not disclose any other information relating to this transaction unless such information is related to such tax treatment and tax structure.
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY DBSI AND NOT BY THE ISSUING ENTITY OF THE SECURITIES OR ANY OF ITS AFFILIATES. DBSI IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUING ENTITY IN CONNECTION WITH THE PROPOSED TRANSACTION.
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
2
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
FREE WRITING PROSPECTUS DATED February 20, 2007
ACE Securities Corp.
Home Equity Loan Trust, Series 2007-SL1
$351,623,000(Approximate)
Subject to a permitted variance of +/- 10%.
Structure Overview | |||||||||
To 10% Optional Termination | |||||||||
Class | Approximate Size ($) | Type | WAL (yrs) | Principal Payment Window (months) | Pmt Delay (days) | Interest Accrual Basis | Legal Final Maturity | Expected Ratings S / M | |
Offered Certificates: | |||||||||
A-1 | 48,608,000 | Float | 1.19 | 1 - 36 | 0 | ACT/360 | March 2037 | AAA / Aaa | |
A-2 | 223,538,000 | Float | 1.19 | 1 - 36 | 0 | ACT/360 | March 2037 | AAA / Aaa | |
M-1 | 19,022,000 | Float | 5.00 | 36 - 64 | 0 | ACT/360 | March 2037 | AA+ / Aa1 | |
M-2 | 18,645,000 | Float | 5.05 | 54 - 64 | 0 | ACT/360 | March 2037 | AA / Aa2 | |
M-3 | 8,475,000 | Float | 4.55 | 50 - 64 | 0 | ACT/360 | March 2037 | AA- / Aa3 | |
M-4 | 9,040,000 | Float | 4.34 | 46 - 64 | 0 | ACT/360 | March 2037 | A+ / A1 | |
M-5 | 6,215,000 | Float | 4.21 | 44 - 64 | 0 | ACT/360 | March 2037 | A / A2 | |
M-6 | 5,085,000 | Float | 4.13 | 43 - 64 | 0 | ACT/360 | March 2037 | A- / A3 | |
M-7 | 4,897,000 | Float | 4.07 | 42 - 64 | 0 | ACT/360 | March 2037 | BBB+ / Baa1 | |
M-8 | 3,955,000 | Float | 4.02 | 41 - 64 | 0 | ACT/360 | March 2037 | BBB / Baa2 | |
M-9 | 4,143,000 | Float | 3.99 | 40 - 64 | 0 | ACT/360 | March 2037 | BBB- / Baa3 | |
Total Offered | 351,623,000 | ||||||||
Non-Offered Certificates: | |||||||||
M-10 | 4,520,000 | Float | 3.95 | 40 - 64 | 0 | ACT/360 | March 2037 | BB+ / Ba1 | |
Total | 356,143,000 | ||||||||
Transaction Overview |
Certificates: | The Class A-1 Certificates and Class A-2 Certificates (the “Senior Certificates” or “Class A Certificates”) and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates (collectively, the “Mezzanine Certificates”). The Class A-1 Certificates are backed by conforming principal balance fixed-rate second lien mortgage loans (the “Group I Mortgage Loans”) and the Class A-2 Certificates are backed by fixed-rate second lien mortgage loans with conforming and non-conforming principal balances (the “Group II Mortgage Loans”). The Mezzanine Certificates are backed by the Group I Mortgage Loans and Group II Mortgage Loans (collectively, the “Mortgage Loans”). The Class A Certificates and the Mezzanine Certificates (other than the Class M-10 Certificates) are referred to collectively in this free writing prospectus as the “Offered Certificates”. The pass-through rates on the Senior Certificates and Mezzanine Certificates will be the lesser of (i) One-Month LIBOR plus their respective margins and (ii) the applicable Net WAC Pass-Through Rate. The trust will also issue the Class CE-1 Certificates, the Class CE-2 Certificates, the Class P Certificates, and the Class R Certificates which, along with the Class M-10 Certificates, are referred to herein as the “Non-offered Certificates”. |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
3
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview |
Collateral: | As of the Cut-off Date, the Mortgage Loans will consist of approximately 6,457 fixed-rate second lien, closed-end, mortgage loans. The aggregate outstanding principal balance of all of the Mortgage Loans is approximately $376,674,430 as of the Cut-off Date. The Mortgage Loans will be separated into two groups. The Group I Mortgage Loans will represent approximately 1,487 conforming principal balance fixed-rate Mortgage Loans totaling approximately $67,277,963 and the Group II Mortgage Loans will represent approximately 4,970 conforming and non-conforming principal balance fixed Mortgage Loans totaling approximately $309,396,467. | |
Senior Certificates or Class A Certificates: | Class A-1 Certificates and Class A-2 Certificates | |
Mezzanine Certificates: | Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates | |
Depositor: | ACE Securities Corp. (“ACE”) |
Originators: | Originator | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | |||||||
American Home Mortgage | 80,644,110 | 21.41 | ||||||||
GMAC | 78,521,877 | 20.85 | ||||||||
Chapel | 62,080,036 | 16.48 | ||||||||
Mortgage IT | 25,209,412 | 6.69 | ||||||||
Other | 130,218,995 | 34.57 | ||||||||
Total | 376,674,430 | 100.00 |
Master Servicer and Securities Administrator: | Wells Fargo Bank, National Association | |
Servicers: | GMAC Mortgage Corporation (“GMAC”) and Ocwen Loan Servicing, LLC (“Ocwen”) | |
Trustee: | HSBC Bank USA, National Association | |
Custodians: | Wells Fargo Bank, National Association and Deutsche Bank National Trust Company | |
Credit Risk Manager: | Clayton Fixed Income Services Inc. (formerly known as The Murrayhill Company) | |
Underwriter: | Deutsche Bank Securities Inc. | |
Swap Provider: | TBD | |
Cut-off Date: | February 1, 2007 | |
Expected Pricing: | Week of February 19, 2007 | |
Expected Closing Date: | On or about February 28, 2007 | |
Record Date: | For so long as the Offered Certificates are held in book-entry form, the Record Date will be the business day immediately preceding the related Distribution Date, With respect to any Offered Certificates held in definitive form, the Record Date will be the last business day of the month immediately preceding the month in which the related Distribution Date occurs. | |
Distribution Date: | 25th day of each month (or the next business day if such day is not a business day) commencing in March 2007. | |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
4
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview (Cont.) |
Determination Date: | With respect to any Distribution Date, the 15th day of the calendar month in which such Distribution Date occurs or, if such 15th day is not a business day, the business day immediately preceding such 15th day. | |
Due Period: | The Due Period with respect to any Distribution Date commences on the second day of the month immediately preceding the month in which such Distribution Date occurs and ends on the first day of the month in which such Distribution Date occurs. | |
Prepayment Period: | With respect to the first Distribution Date and the Mortgage Loans serviced by (i) GMAC, the period beginning on the Cut-off Date and ending on the (15th) day of the month of such Distribution Date, and with respect to any Distribution Date thereafter, the period beginning on the sixteenth (16th) day of the month preceding the related Distribution Date and ending on the fifteenth (15th) day of the month in which such Distribution Date occurs and (ii) Ocwen, with respect to prepayments in full, the period beginning on the sixteenth day of the month preceding the related Distribution Date and ending on the fifteenth day of the month of such Distribution Date, and (ii) with respect to prepayments in part, the prior calendar month. | |
Interest Accrual Period: | Interest will initially accrue on the Offered Certificates from the Closing Date to (but excluding) the first Distribution Date, and thereafter, from the prior Distribution Date to (but excluding) the current Distribution Date on an actual/360 basis. The Offered Certificates will initially settle flat (no accrued interest). | |
Interest Distribution Amount: | For the Offered Certificates of any class on any Distribution Date is equal to interest accrued during the related Interest Accrual Period on the Certificate Principal Balance of that class immediately prior to such Distribution Date at the then applicable pass-through rate for such class, and reduced (to an amount not less than zero), in the case of each such class, by the allocable share, if any, for such class of prepayment interest shortfalls to the extent not covered by Compensating Interest paid by the Master Servicer or the Servicers and shortfalls resulting from the application of the Servicemembers’ Civil Relief Act or similar state or local laws. | |
Senior Interest Distribution Amount: | For any class of Class A Certificates on any Distribution Date is an amount equal to the sum of the Interest Distribution Amount for such Distribution Date for each such class and the Interest Carry Forward Amount, if any, for such Distribution Date for each such class. | |
Administration Fee Rate: | The Master Servicer, the Servicers and the Credit Risk Manager will be paid monthly fees on the outstanding principal balance of the Mortgage Loans. These fees (“Administration Fee Rate”) initially aggregate to a weighted average cost of approximately 0.5285% per annum for the Mortgage Loans. | |
Compensating Interest: | Each Servicer will be required to cover Prepayment Interest Shortfalls on prepayments in full on the Mortgage Loans received during the portion of the related Prepayment Period occurring between the 16th day of the month prior to the month of the Distribution Date to the last day of such prior month up to the Servicing Fee payable to the related Servicer. If a Servicer fails to make such payments, the Master Servicer will be required to do so in an amount not to exceed the compensation payable to the Master Servicer. | |
Prepayment Interest Shortfalls: | Interest shortfalls attributable to voluntary principal prepayments on the Mortgage Loans. | |
Expense Adjusted Mortgage Rate: | For any Mortgage Loan for any Distribution Date shall be a per annum rate equal to the applicable Mortgage Rate for such Mortgage Loan as of the first day of the month preceding the month in which such Distribution Date occurs minus the Administration Fee Rate. | |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
5
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview (Cont.) |
Optional Termination: | On any Distribution Date on which the aggregate outstanding principal balance of the Mortgage Loans as of the related Determination Date is less than or equal to 10% of the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date, the Master Servicer may purchase all of the Mortgage Loans and REO properties remaining in the trust, causing an early retirement of the Certificates, but is not required to do so. In the event that the Master Servicer fails to exercise such purchase option on the first possible optional termination date, each Servicer may, subject to certain conditions set forth in the pooling and servicing agreement, exercise such purchase option. In the event either the Master Servicer or a Servicer exercises this option, the portion of the purchase price allocable to the certificates will be, to the extent of available funds, (i) 100% of the then outstanding Certificate Principal Balance of the certificates, plus (ii) one month’s interest on the then outstanding Certificate Principal Balance of the certificates at the then applicable pass-through rate for each such class, plus (iii) any previously accrued but unpaid interest thereon to which the holders of the certificates are entitled, together with the amount of any Net WAC Rate Carryover Amounts. | ||
Monthly Servicer Advances: | The Servicers will collect monthly payments of principal and interest on the related Mortgage Loans and will be obligated to make advances of delinquent monthly principal and interest payments but only to the extent such amounts are deemed recoverable. If a Servicer fails to make any such advances, the Master Servicer will be required to do so subject to its determination of recoverability. The Servicers and the Master Servicer are entitled to be reimbursed for these advances, and therefore these advances are not a form of credit enhancement. | ||
Credit Enhancement: | 1) | Excess Interest; | |
2) | Overcollateralization (“OC”); and | ||
3) | Subordination. | ||
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
6
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview (Cont.) |
Allocation of Losses: | Any Realized Losses on the Mortgage Loans will be allocated on any Distribution Date, first, to Net Monthly Excess Cashflow and Net Swap Payments made to the Swap Provider, if any, second, to the Class CE-1 Certificates (the Class CE-2 Certificate will not have a certificate principal balance and will not be allocated any losses), third, to the Class M-10 Certificates, fourth, to the Class M-9 Certificates, fifth, to the Class M-8 Certificates, sixth, to the Class M-7 Certificates, seventh, to the Class M-6 Certificates, eighth, to the Class M-5 Certificates, ninth, to the Class M-4 Certificates, tenth, to the Class M-3 Certificates, eleventh, to the Class M-2 Certificates, and twelfth, to the Class M-1 Certificates. There will be no allocation of Realized Losses to the Class A Certificates. Investors in the Class A Certificates should note, however, that although Realized Losses cannot be allocated to such Certificates, under certain loss scenarios there may not be enough principal and interest on the Mortgage Loans to distribute to the holders of the Class A Certificates all principal and interest amounts to which they are then entitled. Once Realized Losses have been allocated to the Mezzanine Certificates, such amounts with respect to such Certificates will no longer accrue interest and such amounts will not be reinstated thereafter (except in the case of subsequent recoveries). However, the amount of any Realized Losses allocated to the Mezzanine Certificates may be distributed to such certificates on a subordinated basis on any Distribution Date from Net Monthly Excess Cashflow, to the extent available for such distribution or from any Net Swap Payments payable by the Swap Provider available for this purpose. A “Realized Loss” for a Liquidated Mortgage Loan is equal to the principal balance of such Liquidated Mortgage Loan plus interest thereon from the date on which interest was last paid less any liquidation proceeds received on such Mortgage Loan and for a Charged Off Mortgage Loan is equal to the principal balance of such Charged Off Mortgage Loan plus interest thereon from the date on which interest was last paid. A “Liquidated Mortgage Loan” is a Mortgage Loan that was liquidated and for which the related Servicer has determined that it has received all amounts it expects to receive in connection with such liquidation, including payments under any related private mortgage insurance policy, hazard insurance policy or any condemnation proceeds and amounts received in connection with the final disposition of the related REO property. A “Charged Off Mortgage Loan” is a defaulted Mortgage Loan that the related Servicer is required to charge off once such Mortgage Loan becomes 180 days delinquent provided that such Mortgage Loan has not yet been liquidated and provided further, that the related Servicer has determined, based on a broker’s price opinion and other relevant considerations, that no significant net recovery is possible through foreclosure proceedings or other liquidation of the related mortgaged property or that the potential net recovery is anticipated to be an amount that is insufficient to warrant proceeding through foreclosure or other liquidation of the related mortgaged property. | |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
7
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview (Cont.) |
Required Overcollateralization Amount: | Overcollateralization refers to the amount by which the aggregate principal balance of the Mortgage Loans exceeds the aggregate Certificate Principal Balance of the certificates (other than the Class CE-1 Certificates). This excess (the “Overcollateralization Amount”) is intended to protect the certificateholders against shortfalls in payments on the Certificates. The Required Overcollateralization Amount for the Certificates, which will be fully established at issuance, is anticipated to be approximately 5.45% of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date. On or after the Stepdown Date and provided that a trigger event is not in effect, the Required Overcollateralization Amount may be permitted to decrease to approximately 10.90% of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period, subject to a floor amount of approximately 0.50% of the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date. If, due to losses, the Overcollateralization Amount is reduced below the Required Overcollateralization Amount, excess spread, to the extent available will be paid to the Certificates then entitled to receive distributions in respect of principal in order to reduce the certificate principal balance of such Certificates to the extent necessary to reach the Required Overcollateralization Amount. In addition, Net Swap Payments paid by the Swap Provider may be used to restore or maintain the Required Overcollateralization Amount. | |
Overcollateralization Increase Amount: | An Overcollateralization Increase Amount for any Distribution Date is the lesser of (i) the Net Monthly Excess Cashflow and Net Swap Payments received from the Swap Provider, if any, for that Distribution Date and (ii) the excess of the Required Overcollateralization Amount over the current Overcollateralization Amount. | |
Overcollateralization Reduction Amount: | An Overcollateralization Reduction Amount for any Distribution Date is the amount by which the current Overcollateralization Amount exceeds the Required Overcollateralization Amount after taking into account all other distributions to be made on the Distribution Date limited to the distribution of principal on the Mortgage Loans. | |
Stepdown Date: | Is the earlier of (i) the first Distribution Date following the Distribution Date which the Certificate Principal Balances of the Class A Certificates are reduced to zero and (ii) the later to occur of (x) the Distribution Date occurring in March 2010 and (y) the first Distribution Date on which the Class A Credit Enhancement Percentage (calculated for this purpose only after taking into account distributions of principal on the Mortgage Loans, but prior to any distribution of principal to the holders of the certificates) is equal to or greater than approximately 55.50%. | |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
8
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview (Cont.) |
Credit Enhancement Percentage: | The Credit Enhancement Percentage for any class of certificates and any Distribution Date is the percentage obtained by dividing (x) the aggregate Certificate Principal Balance of the class or classes subordinate thereto (which includes the Overcollateralization Amount) by (y) the aggregate principal balance of the Mortgage Loans, calculated after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period and distribution of the Principal Distribution Amount to the holders of the Certificates then entitled to distributions of principal on the Distribution Date. |
Class | (S/M) | Initial CE % | CE % On/After Step Down Date | ||
A | AAA / Aaa | 27.75% | 55.50% | ||
M-1 | AA+ / Aa1 | 22.70% | 45.40% | ||
M-2 | AA / Aa2 | 17.75% | 35.50% | ||
M-3 | AA- / Aa3 | 15.50% | 31.00% | ||
M-4 | A+ / A1 | 13.10% | 26.20% | ||
M-5 | A / A2 | 11.45% | 22.90% | ||
M-6 | A- / A3 | 10.10% | 20.20% | ||
M-7 | BBB+ / Baa1 | 8.80% | 17.60% | ||
M-8 | BBB / Baa2 | 7.75% | 15.50% | ||
M-9 | BBB- / Baa3 | 6.65% | 13.30% | ||
M-10 | BB+ / Ba1 | 5.45% | 10.90% | ||
Net Monthly Excess Cashflow: | For any Distribution Date is equal to the sum of (i) any Overcollateralization Reduction Amount and (ii) the excess of the Available Distribution Amount over the sum of (w) with respect to the Class A Certificates, the Senior Interest Distribution Amount for such Distribution Date, (x) with respect to the Mezzanine Certificates, the Interest Distribution Amount for such Distribution Date, (y) the amount of principal required to be distributed to the holders of the certificates on such Distribution Date and (z) any Net Swap Payment or the Swap Termination Payment (not caused by a Swap Provider Trigger Event (as defined in the Swap Agreement)), owed to the Swap Provider. | |
Net WAC Pass- Through Rate: | Class A-1 and Class A-2 Certificates: The per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) 12 and (ii) a fraction, expressed as a percentage, the numerator of which is the difference of (a) the amount of interest which accrued on the Mortgage Loans in the related loan group in the prior calendar month minus the fees payable to the Servicers, the Master Servicer and the Credit Risk Manager with respect to the related Mortgage Loans for such Distribution Date, over (b) the Group I Allocation Percentage or Group II Allocation Percentage, as applicable, of any Net Swap Payment or Swap Termination Payment made to the Swap Provider for such Distribution Date (which was not caused by a Swap Provider Trigger Event as defined in the Swap Agreement), and the denominator of which is the aggregate principal balance of the Mortgage Loans in the related loan group as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date), after giving effect to principal prepayments received during the related Prepayment Period. | |
Mezzanine Certificates: The per annum rate equal to the weighted average (weighted in proportion to the results of subtracting from the aggregate principal balance of each loan group, the certificate principal balances of the related Class A Certificates), of (i) the Net WAC Pass-Through Rate for the Class A-1 Certificates and (ii) the Net WAC Pass-Through Rate for the Class A-2 Certificates. | ||
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
9
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Group I Allocation Percentage: The aggregate principal balance of the Group I Mortgage Loans divided by the sum of the aggregate principal balance of the Group I Mortgage Loans and the Group II Mortgage Loans. | ||
Group II Allocation Percentage: The aggregate principal balance of the Group II Mortgage Loans divided by the sum of the aggregate principal balance of the Group I Mortgage Loans and the Group II Mortgage Loans. | ||
Net WAC Rate Carryover Amount: | If on any Distribution Date the Pass-Through Rate for any class of the Series 2007-SL1 Certificates is limited by the Net WAC Pass-Through Rate, such class will be entitled to the “Net WAC Rate Carryover Amount” which will be equal to the sum of (i) the excess, if any of (a) the amount of interest that would have accrued on such class based on One-Month LIBOR plus the related margin over (b) the amount of interest accrued on such class based on the Net WAC Pass-Through Rate and (ii) the unpaid portion of any related Net WAC Rate Carryover Amount from the prior Distribution Date together with interest accrued on such unpaid portion at a rate equal to One-Month LIBOR plus the related margin for the most recently ended Interest Accrual Period. Any Net WAC Rate Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the extent of funds available. The Net WAC Rate Carryover Amount will be distributed from certain amounts received by the Securities Administrator, on behalf of the supplemental interest trust (described below), under the Swap Agreement, if any, and from the Net Monthly Excess Cashflow on a subordinated basis on the same Distribution Date or on any subsequent Distribution Date to the extent of available funds. The ratings on each class of Offered Certificates do not address the likelihood of the payment of any Net WAC Rate Carryover Amount from Net Monthly Excess Cashflow. | |
Swap Agreement: | On the Closing Date, the Trustee will enter into a Swap Agreement with the Swap Provider described in the prospectus supplement. The Swap Agreement will have an initial notional amount of $281,893,162. Beginning with the Distribution Date in September 2007, the trust (through a supplemental interest trust) will be obligated to pay an amount equal to the product of (i) [5.28]% per annum, (ii) the Swap Notional Amount (as defined below) and (iii) a fraction, the numerator of which is 30 and the denominator of which is 360, and the Swap Provider will be obligated to pay to the supplemental interest trust, for the benefit of the holders of the Offered Certificates, an amount equal to the product of (i) one-month LIBOR, (ii) the Swap Notional Amount and (iii) a fraction, the numerator of which is the actual number of days elapsed during the related Interest Accrual Period and the denominator of which is 360, until the Swap Agreement is terminated. The “Swap Notional Amount” for each Distribution Date will be equal to the lesser of (a) the aggregate certificate principal balance of the Offered Certificates and Class M-10 Certificates on the day immediately preceding such Distribution Date, and (b) the scheduled swap notional amount set forth in the Swap Agreement for such Distribution Date. Only the net amount of the two obligations will be paid by the appropriate party (the “Net Swap Payment”). See the attached schedule. | |
A separate trust created under the pooling and servicing agreement (the “Supplemental Interest Trust”) will hold the Swap Agreement. The Swap Agreement and any payments made by the Swap Provider thereunder will be assets of the Supplemental Interest Trust but will not be assets of any REMIC. | ||
Upon early termination of the Swap Agreement, the Securities Administrator on behalf of the Supplemental Interest Trust or the Swap Provider may be liable to make a termination payment (the ‘‘Swap Termination Payment’’) to the other party (regardless of which party caused the termination). The Swap Termination Payment will be computed in accordance with the procedures set forth in the Swap Agreement. In the event that the Securities Administrator, on behalf of the Supplemental Interest Trust, is required to make a Swap Termination Payment which is not payable as a result of the occurrence of a swap provider trigger event under the Swap Agreement, that payment will be paid on the related Distribution Date, and on any subsequent Distribution Dates until paid in full prior to distributions to Certificateholders. | ||
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
10
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Available Distribution Amount: | For any Distribution Date, net of the administration fees, an amount equal to (i) the aggregate amount of scheduled monthly payments on the Mortgage Loans due on the related Due Date and received on or prior to the related Determination Date; (ii) unscheduled payments in respect of the Mortgage Loans (including prepayments, insurance proceeds, liquidation proceeds, subsequent recoveries and proceeds from repurchases of and substitutions for the Mortgage Loans occurring during the Prepayment Period or proceeds from the repurchase of the Mortgage Loans due to the Optional Termination of the Trust); (iii) all P&I Advances with respect to the Mortgage Loans received for the Distribution Date; (iv) all Compensating Interest paid by each Servicer or the Master Servicer in respect of Prepayment Interest Shortfalls for the related Due Period; and (v) Net Swap Payments payable by the Swap Provider. | |
Class A Principal Distribution Amount: | Until the Stepdown Date, the Class A Principal Distribution Amount will be distributed to the holders of the Class A-1 Certificates and the Class A-2 Certificates concurrently, on a pro rata basis based on the related Class A Principal Allocation Percentage (for any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the principal remittance amount for the Group I Mortgage Loans (in the case of the Class A-1 Certificates) or the principal remittance amount for the Group II Mortgage Loans (in the case of the Class A-2 Certificates) and the denominator of which is equal to the principal remittance amount for all of the Mortgage Loans). | |
Until the Stepdown Date, or if a Trigger Event occurs, the Class A Certificates will receive the principal collected on the Mortgage Loans plus any excess interest and any Net Swap Payment received by the Securities Administrator from the Swap Provider required to restore or maintain the Required Overcollateralization Amount until the aggregate certificate principal balance of the Class A Certificates has been reduced to zero. On or after the Stepdown Date, if no Trigger Event occurs, principal paid on the Class A Certificates will be an amount such that the Class A Certificates will maintain approximately a 55.50% Credit Enhancement Percentage (2x the Class A Credit Enhancement Percentage). The Class A Principal Distribution Amount will be distributed to the holders of the Class A-1 Certificates and the Class A-2 Certificates to the extent of their respective group-based principal distribution amount. | ||
Class M Principal Distribution Amount: | Unless the Class A Certificates have been reduced to zero, the Mezzanine Certificates will generally not receive any principal payments until the Stepdown Date. On or after the Stepdown Date (if no Trigger Event is in effect), principal will be paid to the Mezzanine Certificates, first to the Class M-1 Certificates until it reaches approximately a 45.40% Credit Enhancement Percentage (2x the Class M-1 Target Credit Enhancement Percentage), second to the Class M-2 Certificates, until it reaches approximately a 35.50% Credit Enhancement Percentage (2x the Class M-2 Target Credit Enhancement Percentage), third to the Class M-3 Certificates until it reaches approximately a 31.00% Credit Enhancement Percentage (2x the Class M-3 Target Credit Enhancement Percentage), fourth to the Class M-4 Certificates until it reaches approximately a 26.20% Credit Enhancement Percentage (2x the Class M-4 Target Credit Enhancement Percentage), fifth to the Class M-5 Certificates until it reaches approximately a 22.90% Credit Enhancement Percentage (2x the Class M-5 Target Credit Enhancement Percentage), sixth to the Class M-6 Certificates, until it reaches approximately a 20.20% Credit Enhancement Percentage (2x the Class M-6 Target Credit Enhancement Percentage), seventh to the Class M-7 Certificates until it reaches approximately a 17.60% Credit Enhancement Percentage (2x the Class M-7 Target Credit Enhancement Percentage), eighth to the Class M-8 Certificates until it reaches approximately a 15.50% Credit Enhancement Percentage (2x the Class M-8 Target Credit Enhancement Percentage), ninth to the Class M-9 Certificates, until it reaches approximately a 13.30% Credit Enhancement Percentage (2x the Class M-9 Target Credit Enhancement Percentage, and tenth to the Class M-10 Certificates, until it reaches approximately a 10.90% Credit Enhancement Percentage (2x the Class M-10 Target Credit Enhancement Percentage. | |
Coupon Step-up: | On the Distribution Date following the first possible optional termination date, the margin on the Certificates will increase to the following, subject to the applicable Net WAC Pass-Through Rate. |
Class | After Optional Termination | ||
A-1 Certificates and A-2 Certificates | 2 x Margin | ||
Mezzanine Certificates | The lesser of 1.5 x Margin and Margin plus 0.50% | ||
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
11
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview (Cont.) |
Trigger Event: | If either the Delinquency Test or Cumulative Loss Test is violated. | ||
Delinquency Test: | The determination on any Distribution Date that the percentage obtained by dividing (x) the principal amount of (1) Mortgage Loans delinquent 60 days or more, (2) Mortgage Loans in foreclosure, (3) REO Properties and (4) Mortgage Loans discharged due to bankruptcy by (y) the aggregate principal balance of the Mortgage Loans, in each case, as of the last day of the previous calendar month, exceeds 14.40%. | ||
Cumulative Loss Test: | The determination on any Distribution Date that the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period divided by the aggregate principal balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Distribution Date: | ||
Distribution Date Occurring in | Percentage | |||
March 2009 to February 2010 | 3.05%, plus 1/12th of 2.70% for each month thereafter | |||
March 2010 to February 2011 | 5.75%, plus 1/12th of 1.75% for each month thereafter | |||
March 2011 to February 2012 | 7.50%, plus 1/12th of 1.50% for each month thereafter | |||
March 2012 to February 2013 | 9.00%, plus 1/12th of 0.50% for each month thereafter | |||
March 2013 and thereafter | 9.50% | |||
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
12
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Transaction Overview (Cont.) |
Payment Priority: | I. On each Distribution Date, the Available Distribution Amount will be distributed as follows: | ||
1. | To the Supplemental Interest Trust, to pay any Net Swap Payment or the Swap Termination Payment (not caused by a Swap Provider Trigger Event (as defined in the Swap Agreement)) owed to the Swap Provider. | ||
2. | (A) To pay interest to the Class A Certificates, including any accrued unpaid interest from a prior Distribution Date; on a pro rata basis, based on the entitlement of each such class. | ||
(B) to pay interest excluding any accrued unpaid interest from a prior Distribution Date to the Mezzanine Certificates, on a sequential basis. | |||
3. | To pay principal to the Class A Certificates in accordance with the principal payment provisions described above under “Class A Principal Distribution Amount”. | ||
4. | To pay principal to the Mezzanine Certificates in accordance with the principal payment provisions described above under “Class M Principal Distribution Amount”. | ||
5. | From excess interest and any Overcollateralization Reduction Amount, if any, to the certificates then entitled to receive distributions in respect of principal in order to reduce the Certificate Principal Balance of the certificates to the extent necessary to restore or maintain the Required Overcollateralization Amount. | ||
6. | From excess interest and any Overcollateralization Reduction Amount, if any, to pay the Interest Carry Forward Amounts on the Mezzanine Certificates, in the same priority as 2(B) above. | ||
7. | From excess interest and any Overcollateralization Reduction Amount, if any, to pay the allocated Realized Losses on the Mezzanine Certificates, in the same priority as 2(B) above. | ||
8. | From excess interest and any Overcollateralization Reduction Amount, if any, to pay the Net WAC Rate Carryover Amount on the Class A Certificates and the Mezzanine Certificates in the same order of priority as described in 2 above. | ||
9. | From excess interest and any Overcollateralization Reduction Amount, if any, to pay the Swap Termination Payment (caused by a Swap Provider Trigger Event) owed to the Swap Provider. | ||
10. | To pay any remaining amount to the non-offered certificates identified in, and in accordance with the provisions of, the Pooling and Servicing Agreement. | ||
Payment Priority (continued): | II. Commencing on the Distribution Date in September 2007, any Net Swap Payments on deposit to the Supplemental Interest Trust will be paid after the distribution of the Available Distribution Amount as follows: | ||
1. | To the Supplemental Interest Trust, to pay any Net Swap Payment or the Swap Termination Payment (not caused by a Swap Provider Trigger Event (as defined in the Swap Agreement)) owed to the Swap Provider. | ||
2. | To pay any unpaid interest on the Class A Certificates including any accrued unpaid interest from a prior Distribution Date, on a pro rata basis based on entitlement of such class, then to pay any unpaid interest including any accrued unpaid interest from prior Distribution Dates to the Mezzanine Certificates, sequentially. | ||
3. | To pay any principal to the Offered Certificates in accordance with the principal payment provisions described above in an amount necessary to restore or maintain the Required Overcollateralization Amount.* | ||
4. | To pay any allocated Realized Losses* remaining unpaid on the Mezzanine Certificates, sequentially. | ||
5. | To pay the Net WAC Rate Carryover Amount on the Offered Certificates remaining unpaid in the same order of priority as described above. | ||
6. | To pay the Swap Termination Payment (caused by a Swap Provider Trigger Event under the Swap Agreement) owed to the Swap Provider. | ||
7. | To pay any remaining amount to the Class CE-1 Certificates. | ||
* Notwithstanding the foregoing, the cumulative amount paid pursuant to clauses 3 and 4 shall at no time be permitted to exceed the cumulative amount of realized losses incurred on the Mortgage Loans from and after the Cut-Off Date | |||
Commencing on the Distribution Date in September 2007, amounts payable by the trust to the Securities Administrator in respect of Net Swap Payments and Swap Termination Payments other than Swap Termination Payments resulting from a Swap Provider Trigger Event (and to the extent not paid by the Securities Administrator from any upfront payment received pursuant to any replacement interest rate swap agreement that may be entered into by the Supplemental Interest Trust Trustee) will be deducted from related available funds before distributions to the holders of the Offered Certificates. On or before each Distribution Date commencing on the Distribution Date occurring in September 2007, such amounts will be distributed by the trust to the Securities Administrator, and paid by the Securities Administrator to the Swap Provider as follows: | |||
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
13
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
(i) | first, to make any Net Swap Payment owed to the Swap Provider pursuant to the Interest Rate Swap Agreement for such Distribution Date, and | |||
(ii) | second, to make any Swap Termination Payment not due to a Swap Provider Trigger Event owed to the Swap Provider pursuant to the Swap Agreement (to the extent not paid by the Securities Administrator from any upfront payment received pursuant to any replacement interest rate swap agreement that may be entered into by the Securities Administrator). | |||
ERISA: | It is expected that the Offered Certificates may be purchased by, or with the assets of, employee benefit plans subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or plans or arrangements subject to section 4975 of the Internal Revenue Code (each, a “Plan”). Prior to the termination of the Supplemental Interest Trust, Plans or persons using assets of a Plan may purchase the Offered Certificates if the purchase and holding meets the requirements of an investor-based class exemption issued by the Department of Labor. Investors should consult with their counsel with respect to the consequences under ERISA and the Internal Revenue Code of a Plan’s acquisition and ownership of such certificates. | |||
Taxation - REMIC: | One or more REMIC elections will be made for designated portions of the Trust (exclusive of certain shortfall payments or payments from the Supplemental Interest Trust or the obligation to make payments to the Supplemental Interest Trust pursuant to the Swap Agreement). | |||
Form of Registration: | Book-entry form through DTC, Clearstream and Euroclear. | |||
Minimum Denominations: | $25,000 and integral multiples of $1 in excess thereof. | |||
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
14
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Swap Schedule
Distribution Date | Notional Schedule ($) | Distribution Date | Notional Schedule ($) |
9/25/2007 | 281,893,162 | 8/25/2011 | 28,952,803 |
10/25/2007 | 268,595,515 | 9/25/2011 | 27,580,806 |
11/25/2007 | 255,924,198 | 10/25/2011 | 26,273,661 |
12/25/2007 | 243,849,746 | 11/25/2011 | 25,028,261 |
1/25/2008 | 232,344,080 | 12/25/2011 | 23,841,517 |
2/25/2008 | 221,380,438 | 1/25/2012 | 22,710,896 |
3/25/2008 | 210,933,319 | 2/25/2012 | 21,633,748 |
4/25/2008 | 200,978,418 | ||
5/25/2008 | 191,492,573 | ||
6/25/2008 | 182,453,713 | ||
7/25/2008 | 173,840,801 | ||
8/25/2008 | 165,633,792 | ||
9/25/2008 | 157,813,582 | ||
10/25/2008 | 150,361,966 | ||
11/25/2008 | 143,261,593 | ||
12/25/2008 | 136,495,931 | ||
1/25/2009 | 130,049,222 | ||
2/25/2009 | 123,906,451 | ||
3/25/2009 | 118,053,309 | ||
4/25/2009 | 112,476,159 | ||
5/25/2009 | 107,162,006 | ||
6/25/2009 | 102,098,466 | ||
7/25/2009 | 97,273,738 | ||
8/25/2009 | 92,676,576 | ||
9/25/2009 | 88,296,261 | ||
10/25/2009 | 84,122,580 | ||
11/25/2009 | 80,145,802 | ||
12/25/2009 | 76,356,651 | ||
1/25/2010 | 72,746,287 | ||
2/25/2010 | 69,306,290 | ||
3/25/2010 | 66,028,631 | ||
4/25/2010 | 62,905,663 | ||
5/25/2010 | 59,930,097 | ||
6/25/2010 | 57,094,986 | ||
7/25/2010 | 54,393,712 | ||
8/25/2010 | 51,819,967 | ||
9/25/2010 | 49,367,742 | ||
10/25/2010 | 47,031,307 | ||
11/25/2010 | 44,805,205 | ||
12/25/2010 | 42,684,235 | ||
1/25/2011 | 40,663,440 | ||
2/25/2011 | 38,738,098 | ||
3/25/2011 | 36,903,708 | ||
4/25/2011 | 35,155,981 | ||
5/25/2011 | 33,490,831 | ||
6/25/2011 | 31,904,363 | ||
7/25/2011 | 30,392,865 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
15
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Sensitivity Table
To 10% Call
0% CPR | 20% CPR | 35% CPR | 45% CPR | 55% CPR | ||
A-1 | Avg Life | 13.55 | 2.94 | 1.19 | 0.87 | 0.66 |
First Payment Date | Mar-07 | Mar-07 | Mar-07 | Mar-07 | Mar-07 | |
Last Payment Date | Jan-28 | Feb-17 | Feb-10 | Apr-09 | Oct-08 | |
A-2 | Avg Life | 13.97 | 2.96 | 1.19 | 0.87 | 0.66 |
First Payment Date | Mar-07 | Mar-07 | Mar-07 | Mar-07 | Mar-07 | |
Last Payment Date | Jan-28 | Feb-17 | Feb-10 | Apr-09 | Oct-08 | |
M-1 | Avg Life | 16.12 | 6.52 | 5.00 | 3.60 | 2.52 |
First Payment Date | Oct-21 | Mar-10 | Feb-10 | Apr-09 | Oct-08 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-2 | Avg Life | 16.12 | 6.52 | 5.05 | 3.64 | 2.83 |
First Payment Date | Oct-21 | Mar-10 | Aug-11 | May-10 | Sep-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-3 | Avg Life | 16.12 | 6.52 | 4.55 | 3.29 | 2.56 |
First Payment Date | Oct-21 | Mar-10 | Apr-11 | Feb-10 | Jun-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-4 | Avg Life | 16.12 | 6.52 | 4.34 | 3.14 | 2.43 |
First Payment Date | Oct-21 | Mar-10 | Dec-10 | Dec-09 | Apr-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-5 | Avg Life | 16.12 | 6.52 | 4.21 | 3.04 | 2.34 |
First Payment Date | Oct-21 | Mar-10 | Oct-10 | Oct-09 | Mar-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
16
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Sensitivity Table
To 10% Call (Continued)
0% CPR | 20% CPR | 35% CPR | 45% CPR | 55% CPR | ||
M-6 | Avg Life | 16.12 | 6.52 | 4.13 | 2.99 | 2.30 |
First Payment Date | Oct-21 | Mar-10 | Sep-10 | Sep-09 | Feb-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-7 | Avg Life | 16.12 | 6.52 | 4.07 | 2.95 | 2.26 |
First Payment Date | Oct-21 | Mar-10 | Aug-10 | Aug-09 | Feb-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-8 | Avg Life | 16.12 | 6.52 | 4.02 | 2.90 | 2.23 |
First Payment Date | Oct-21 | Mar-10 | Jul-10 | Aug-09 | Jan-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-9 | Avg Life | 16.12 | 6.52 | 3.99 | 2.88 | 2.21 |
First Payment Date | Oct-21 | Mar-10 | Jun-10 | Jul-09 | Jan-09 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 | |
M-10 | Avg Life | 16.12 | 6.52 | 3.95 | 2.86 | 2.18 |
First Payment Date | Oct-21 | Mar-10 | Jun-10 | Jul-09 | Dec-08 | |
Last Payment Date | Jan-28 | Feb-17 | Jun-12 | Dec-10 | Jan-10 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
17
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Sensitivity Table
To Maturity
0% CPR | 20% CPR | 35% CPR | 45% CPR | 55% CPR | ||
A-1 | Avg Life | 13.80 | 3.11 | 1.19 | 0.87 | 0.66 |
First Payment Date | Mar-07 | Mar-07 | Mar-07 | Mar-07 | Mar-07 | |
Last Payment Date | May-36 | Oct-21 | Feb-10 | Apr-09 | Oct-08 | |
A-2 | Avg Life | 14.30 | 3.14 | 1.19 | 0.87 | 0.66 |
First Payment Date | Mar-07 | Mar-07 | Mar-07 | Mar-07 | Mar-07 | |
Last Payment Date | Jul-36 | Dec-21 | Feb-10 | Apr-09 | Oct-08 | |
M-1 | Avg Life | 17.12 | 7.08 | 7.20 | 5.25 | 3.67 |
First Payment Date | Oct-21 | Mar-10 | Feb-10 | Apr-09 | Oct-08 | |
Last Payment Date | Apr-36 | Oct-21 | Mar-19 | Dec-15 | Sep-13 | |
M-2 | Avg Life | 17.12 | 7.08 | 5.50 | 3.98 | 3.14 |
First Payment Date | Oct-21 | Mar-10 | Aug-11 | May-10 | Sep-09 | |
Last Payment Date | Mar-36 | Oct-21 | Jun-17 | Aug-14 | Oct-12 | |
M-3 | Avg Life | 17.11 | 7.08 | 4.93 | 3.57 | 2.76 |
First Payment Date | Oct-21 | Mar-10 | Apr-11 | Feb-10 | Jun-09 | |
Last Payment Date | Dec-35 | Oct-21 | Nov-16 | Mar-14 | Jun-12 | |
M-4 | Avg Life | 17.11 | 7.08 | 4.71 | 3.42 | 2.63 |
First Payment Date | Oct-21 | Mar-10 | Dec-10 | Dec-09 | Apr-09 | |
Last Payment Date | Oct-35 | Oct-21 | Jul-16 | Dec-13 | Apr-12 | |
M-5 | Avg Life | 17.10 | 7.08 | 4.57 | 3.31 | 2.54 |
First Payment Date | Oct-21 | Mar-10 | Oct-10 | Oct-09 | Mar-09 | |
Last Payment Date | Aug-35 | Oct-21 | Mar-16 | Sep-13 | Feb-12 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
18
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Sensitivity Table
To Maturity (Continued)
0% CPR | 20% CPR | 35% CPR | 45% CPR | 55% CPR | ||
M-6 | Avg Life | 17.09 | 7.08 | 4.47 | 3.24 | 2.49 |
First Payment Date | Oct-21 | Mar-10 | Sep-10 | Sep-09 | Feb-09 | |
Last Payment Date | Jun-35 | Oct-21 | Nov-15 | Jun-13 | Dec-11 | |
M-7 | Avg Life | 17.08 | 7.08 | 4.40 | 3.19 | 2.44 |
First Payment Date | Oct-21 | Mar-10 | Aug-10 | Aug-09 | Feb-09 | |
Last Payment Date | Mar-35 | Oct-21 | Aug-15 | Apr-13 | Oct-11 | |
M-8 | Avg Life | 17.07 | 7.07 | 4.34 | 3.14 | 2.40 |
First Payment Date | Oct-21 | Mar-10 | Jul-10 | Aug-09 | Jan-09 | |
Last Payment Date | Dec-34 | Oct-21 | Apr-15 | Jan-13 | Aug-11 | |
M-9 | Avg Life | 17.05 | 7.05 | 4.28 | 3.10 | 2.37 |
First Payment Date | Oct-21 | Mar-10 | Jun-10 | Jul-09 | Jan-09 | |
Last Payment Date | Sep-34 | Sep-21 | Jan-15 | Nov-12 | Jun-11 | |
M-10 | Avg Life | 17.01 | 7.00 | 4.22 | 3.06 | 2.33 |
First Payment Date | Oct-21 | Mar-10 | Jun-10 | Jul-09 | Dec-08 | |
Last Payment Date | May-34 | Feb-21 | Aug-14 | Aug-12 | Mar-11 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
19
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Effective Available Funds Schedule* | Effective Available Funds Schedule* | |||||||
Period | Date | Net WAC Pass-Through Rate Cap 1 (%) | Period | Date | Net WAC Pass-Through Rate Cap 1 (%) | |||
1 | 3/25/2007 | 12.596 | 46 | 12/25/2010 | 19.060 | |||
2 | 4/25/2007 | 10.158 | 47 | 1/25/2011 | 18.717 | |||
3 | 5/25/2007 | 10.497 | 48 | 2/25/2011 | 18.615 | |||
4 | 6/25/2007 | 10.158 | 49 | 3/25/2011 | 19.295 | |||
5 | 7/25/2007 | 10.497 | 50 | 4/25/2011 | 18.414 | |||
6 | 8/25/2007 | 10.158 | 51 | 5/25/2011 | 18.561 | |||
7 | 9/25/2007 | 24.010 | 52 | 6/25/2011 | 18.218 | |||
8 | 10/25/2007 | 24.027 | 53 | 7/25/2011 | 18.369 | |||
9 | 11/25/2007 | 23.681 | 54 | 8/25/2011 | 18.026 | |||
10 | 12/25/2007 | 23.705 | 55 | 9/25/2011 | 17.932 | |||
11 | 1/25/2008 | 23.359 | 56 | 10/25/2011 | 18.090 | |||
12 | 2/25/2008 | 23.201 | 57 | 11/25/2011 | 17.747 | |||
13 | 3/25/2008 | 23.441 | 58 | 12/25/2011 | 17.910 | |||
14 | 4/25/2008 | 22.891 | 59 | 1/25/2012 | 17.567 | |||
15 | 5/25/2008 | 22.933 | 60 | 2/25/2012 | 17.478 | |||
16 | 6/25/2008 | 22.588 | 61 | 3/25/2012 | 10.865 | |||
17 | 7/25/2008 | 22.637 | 62 | 4/25/2012 | 10.164 | |||
18 | 8/25/2008 | 22.292 | 63 | 5/25/2012 | 10.503 | |||
19 | 9/25/2008 | 22.147 | 64 | 6/25/2012 | 10.165 | |||
20 | 10/25/2008 | 22.206 | ||||||
21 | 11/25/2008 | 21.862 | ||||||
22 | 12/25/2008 | 21.928 | ||||||
23 | 1/25/2009 | 21.583 | ||||||
24 | 2/25/2009 | 21.446 | ||||||
25 | 3/25/2009 | 21.990 | ||||||
26 | 4/25/2009 | 21.178 | ||||||
27 | 5/25/2009 | 21.260 | ||||||
28 | 6/25/2009 | 20.916 | ||||||
29 | 7/25/2009 | 21.004 | ||||||
30 | 8/25/2009 | 20.660 | ||||||
31 | 9/25/2009 | 20.534 | ||||||
32 | 10/25/2009 | 20.632 | ||||||
33 | 11/25/2009 | 20.287 | ||||||
34 | 12/25/2009 | 20.391 | ||||||
35 | 1/25/2010 | 20.047 | ||||||
36 | 2/25/2010 | 19.928 | ||||||
37 | 3/25/2010 | 20.545 | ||||||
38 | 4/25/2010 | 19.696 | ||||||
39 | 5/25/2010 | 19.813 | ||||||
40 | 6/25/2010 | 19.469 | ||||||
41 | 7/25/2010 | 19.591 | ||||||
42 | 8/25/2010 | 19.248 | *CPR: 35% | |||||
43 | 9/25/2010 | 19.139 | *Effective AFC is ACT/360 day count | |||||
44 | 10/25/2010 | 19.269 | *1 Month Libor: 20% | |||||
45 | 11/25/2010 | 18.926 | *Includes Net Swap Payments received from the Swap Provider |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
20
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Effective Available Funds Schedule* | Effective Available Funds Schedule* | |||||||
Period | Date | Net WAC Pass-Through Rate Cap 2 (%) | Period | Date | Net WAC Pass-Through Rate Cap 2 (%) | |||
1 | 3/25/2007 | 13.468 | 46 | 12/25/2010 | 19.784 | |||
2 | 4/25/2007 | 10.861 | 47 | 1/25/2011 | 19.417 | |||
3 | 5/25/2007 | 11.223 | 48 | 2/25/2011 | 19.314 | |||
4 | 6/25/2007 | 10.861 | 49 | 3/25/2011 | 20.070 | |||
5 | 7/25/2007 | 11.223 | 50 | 4/25/2011 | 19.113 | |||
6 | 8/25/2007 | 10.861 | 51 | 5/25/2011 | 19.283 | |||
7 | 9/25/2007 | 24.713 | 52 | 6/25/2011 | 18.917 | |||
8 | 10/25/2007 | 24.753 | 53 | 7/25/2011 | 19.091 | |||
9 | 11/25/2007 | 24.383 | 54 | 8/25/2011 | 18.725 | |||
10 | 12/25/2007 | 24.431 | 55 | 9/25/2011 | 18.631 | |||
11 | 1/25/2008 | 24.061 | 56 | 10/25/2011 | 18.812 | |||
12 | 2/25/2008 | 23.903 | 57 | 11/25/2011 | 18.446 | |||
13 | 3/25/2008 | 24.191 | 58 | 12/25/2011 | 18.632 | |||
14 | 4/25/2008 | 23.593 | 59 | 1/25/2012 | 18.266 | |||
15 | 5/25/2008 | 23.659 | 60 | 2/25/2012 | 18.177 | |||
16 | 6/25/2008 | 23.290 | 61 | 3/25/2012 | 11.612 | |||
17 | 7/25/2008 | 23.363 | 62 | 4/25/2012 | 10.863 | |||
18 | 8/25/2008 | 22.994 | 63 | 5/25/2012 | 11.225 | |||
19 | 9/25/2008 | 22.849 | 64 | 6/25/2012 | 10.863 | |||
20 | 10/25/2008 | 22.932 | ||||||
21 | 11/25/2008 | 22.563 | ||||||
22 | 12/25/2008 | 22.653 | ||||||
23 | 1/25/2009 | 22.285 | ||||||
24 | 2/25/2009 | 22.148 | ||||||
25 | 3/25/2009 | 22.767 | ||||||
26 | 4/25/2009 | 21.879 | ||||||
27 | 5/25/2009 | 21.985 | ||||||
28 | 6/25/2009 | 21.617 | ||||||
29 | 7/25/2009 | 21.729 | ||||||
30 | 8/25/2009 | 21.361 | ||||||
31 | 9/25/2009 | 21.235 | ||||||
32 | 10/25/2009 | 21.356 | ||||||
33 | 11/25/2009 | 20.988 | ||||||
34 | 12/25/2009 | 21.115 | ||||||
35 | 1/25/2010 | 20.747 | ||||||
36 | 2/25/2010 | 20.629 | ||||||
37 | 3/25/2010 | 21.321 | ||||||
38 | 4/25/2010 | 20.396 | ||||||
39 | 5/25/2010 | 20.537 | ||||||
40 | 6/25/2010 | 20.169 | ||||||
41 | 7/25/2010 | 20.315 | ||||||
42 | 8/25/2010 | 19.948 | *CPR: 35% | |||||
43 | 9/25/2010 | 19.839 | *Effective AFC is ACT/360 day count | |||||
44 | 10/25/2010 | 19.992 | *1 Month Libor: 20% | |||||
45 | 11/25/2010 | 19.625 | *Includes Net Swap Payments received from the Swap Provider |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
21
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Effective Available Funds Schedule* | Effective Available Funds Schedule* | |||||||
Period | Date | Net WAC Pass-Through Rate Mezz (%) | Period | Date | Net WAC Pass-Through Rate Mezz (%) | |||
1 | 3/25/2007 | 13.312 | 46 | 12/25/2010 | 19.655 | |||
2 | 4/25/2007 | 10.736 | 47 | 1/25/2011 | 19.293 | |||
3 | 5/25/2007 | 11.093 | 48 | 2/25/2011 | 19.190 | |||
4 | 6/25/2007 | 10.736 | 49 | 3/25/2011 | 19.932 | |||
5 | 7/25/2007 | 11.093 | 50 | 4/25/2011 | 18.989 | |||
6 | 8/25/2007 | 10.736 | 51 | 5/25/2011 | 19.155 | |||
7 | 9/25/2007 | 24.588 | 52 | 6/25/2011 | 18.793 | |||
8 | 10/25/2007 | 24.623 | 53 | 7/25/2011 | 18.963 | |||
9 | 11/25/2007 | 24.258 | 54 | 8/25/2011 | 18.601 | |||
10 | 12/25/2007 | 24.301 | 55 | 9/25/2011 | 18.507 | |||
11 | 1/25/2008 | 23.936 | 56 | 10/25/2011 | 18.684 | |||
12 | 2/25/2008 | 23.778 | 57 | 11/25/2011 | 18.322 | |||
13 | 3/25/2008 | 24.057 | 58 | 12/25/2011 | 18.504 | |||
14 | 4/25/2008 | 23.467 | 59 | 1/25/2012 | 18.142 | |||
15 | 5/25/2008 | 23.529 | 60 | 2/25/2012 | 18.053 | |||
16 | 6/25/2008 | 23.164 | 61 | 3/25/2012 | 11.479 | |||
17 | 7/25/2008 | 23.233 | 62 | 4/25/2012 | 10.739 | |||
18 | 8/25/2008 | 22.869 | 63 | 5/25/2012 | 11.097 | |||
19 | 9/25/2008 | 22.723 | 64 | 6/25/2012 | 10.739 | |||
20 | 10/25/2008 | 22.802 | ||||||
21 | 11/25/2008 | 22.438 | ||||||
22 | 12/25/2008 | 22.523 | ||||||
23 | 1/25/2009 | 22.159 | ||||||
24 | 2/25/2009 | 22.023 | ||||||
25 | 3/25/2009 | 22.628 | ||||||
26 | 4/25/2009 | 21.754 | ||||||
27 | 5/25/2009 | 21.855 | ||||||
28 | 6/25/2009 | 21.492 | ||||||
29 | 7/25/2009 | 21.599 | ||||||
30 | 8/25/2009 | 21.236 | ||||||
31 | 9/25/2009 | 21.110 | ||||||
32 | 10/25/2009 | 21.227 | ||||||
33 | 11/25/2009 | 20.863 | ||||||
34 | 12/25/2009 | 20.985 | ||||||
35 | 1/25/2010 | 20.622 | ||||||
36 | 2/25/2010 | 20.504 | ||||||
37 | 3/25/2010 | 21.183 | ||||||
38 | 4/25/2010 | 20.272 | ||||||
39 | 5/25/2010 | 20.408 | ||||||
40 | 6/25/2010 | 20.045 | ||||||
41 | 7/25/2010 | 20.186 | ||||||
42 | 8/25/2010 | 19.823 | *CPR: 35% | |||||
43 | 9/25/2010 | 19.715 | *Effective AFC is ACT/360 day count | |||||
44 | 10/25/2010 | 19.864 | *1 Month Libor: 20% | |||||
45 | 11/25/2010 | 19.501 | *Includes Net Swap Payments received from the Swap Provider |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
22
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Excess Spread*
(Assumes Pricing Prepayment Speed, Excludes Basis Risk Shortfalls)
Period | Excess Spread in bp (Static LIBOR) | Excess Spread in 1 Month Forward LIBOR (%) | Excess Spread in bp (Forward LIBOR) | Period | Excess Spread in bp (Static LIBOR) | Excess Spread in 1 Month Forward LIBOR (%) | Excess Spread in bp (Forward LIBOR) |
1 | 659 | 5.3198 | 659 | 45 | 555 | 4.9333 | 568 |
2 | 551 | 5.3452 | 549 | 46 | 564 | 4.9304 | 576 |
3 | 570 | 5.3426 | 568 | 47 | 557 | 4.9276 | 570 |
4 | 552 | 5.3289 | 551 | 48 | 557 | 4.9256 | 570 |
5 | 570 | 5.3248 | 570 | 49 | 582 | 5.0229 | 591 |
6 | 553 | 5.3197 | 553 | 50 | 558 | 5.0242 | 568 |
7 | 573 | 5.2644 | 573 | 51 | 567 | 5.0241 | 577 |
8 | 575 | 5.2543 | 575 | 52 | 558 | 5.0250 | 569 |
9 | 574 | 5.2414 | 574 | 53 | 567 | 5.0243 | 577 |
10 | 576 | 5.1661 | 576 | 54 | 558 | 5.0246 | 569 |
11 | 574 | 5.0980 | 575 | 55 | 558 | 5.0245 | 569 |
12 | 574 | 5.0991 | 575 | 56 | 567 | 5.0240 | 578 |
13 | 580 | 5.0268 | 581 | 57 | 558 | 5.0247 | 570 |
14 | 575 | 4.9915 | 577 | 58 | 567 | 5.0233 | 579 |
15 | 578 | 4.9552 | 580 | 59 | 558 | 5.0232 | 570 |
16 | 576 | 4.9241 | 578 | 60 | 558 | 5.0233 | 570 |
17 | 579 | 4.8899 | 582 | 61 | 583 | 5.0889 | 603 |
18 | 576 | 4.8554 | 580 | 62 | 547 | 5.0905 | 568 |
19 | 577 | 4.8243 | 581 | 63 | 565 | 5.0917 | 586 |
20 | 581 | 4.7913 | 586 | 64 | 547 | 5.0921 | 568 |
21 | 577 | 4.7586 | 583 | ||||
22 | 582 | 4.7276 | 588 | ||||
23 | 578 | 4.6962 | 586 | ||||
24 | 579 | 4.6636 | 587 | ||||
25 | 593 | 4.8964 | 597 | ||||
26 | 580 | 4.8963 | 586 | ||||
27 | 585 | 4.8845 | 591 | ||||
28 | 581 | 4.8743 | 587 | ||||
29 | 587 | 4.8633 | 593 | ||||
30 | 583 | 4.8523 | 589 | ||||
31 | 583 | 4.8421 | 590 | ||||
32 | 589 | 4.8301 | 596 | ||||
33 | 585 | 4.8205 | 593 | ||||
34 | 591 | 4.8099 | 599 | ||||
35 | 587 | 4.7987 | 595 | ||||
36 | 588 | 4.7887 | 596 | ||||
37 | 607 | 4.9341 | 612 | ||||
38 | 569 | 4.9512 | 577 | ||||
39 | 556 | 4.9485 | 564 | ||||
40 | 527 | 4.9470 | 538 | ||||
41 | 543 | 4.9434 | 553 | ||||
42 | 543 | 4.9413 | 554 | ||||
43 | 550 | 4.9390 | 562 | ||||
44 | 562 | 4.9356 | 574 |
*Includes Net Swap Payments
*Excess Spread is on a 30/360 day count.
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
23
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
Breakeven CDR Table for the Subordinated Certificates
The assumptions for the breakeven CDR table below are as follows:
- Pricing speed prepayment assumption
- 10% cleanup call is exercised
- Forward Curves
- 100% Severity
- Interest & Principal advancing
- 3 month recovery lag
- Breakevens are shown at the loss before the referenced Class first incurs a writedown
Class | CDR Break-Even (%) | Cumulative Loss (%) | ||
M-1 | 19.36 | 29.54 | ||
M-2 | 15.51 | 25.09 | ||
M-3 | 13.95 | 23.03 | ||
M-4 | 12.35 | 20.82 | ||
M-5 | 11.22 | 19.34 | ||
M-6 | 10.39 | 18.06 | ||
M-7 | 9.56 | 16.84 | ||
M-8 | 8.91 | 15.89 | ||
M-9 | 8.26 | 14.91 | ||
M-10 | 7.65 | 13.89 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
24
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
SUMMARY - AGGREGATE POOL** | |||
Number of Mortgage Loans: | 6,457 | Property Type: | |
Aggregate Principal Balance: | $376,674,430 | Single Family: | 57.08% |
Conforming Balance:* | $358,604,394 | PUD: | 24.99% |
Average Principal Balance: | $58,336 | 2-4 Family: | 8.43% |
Range: | $382 - $498,510 | Condo: | 9.16% |
W.A. Coupon: | 11.622% | Townhouse: | 0.34% |
Range: | 6.500% - 20.625% | Occupancy Status: | |
W.A. Remaining Term (Months): | 203 | Primary: | 75.66% |
Range (Months): | 116 - 360 | Investment: | 19.76% |
W.A. Seasoning (Months): | 4 | Second Home: | 4.58% |
Latest Maturity Date: | February 1, 2037 | Documentation Status: | |
State Concentration (Top 5): | Full: | 13.66% | |
California: | 28.68% | Stated: | 50.32% |
Florida: | 10.27% | Limited: | 0.89% |
Arizona: | 6.59% | No Documentation: | 35.12% |
Nevada: | 6.41% | W.A. Prepayment Term (Months): | 27 |
Texas: | 4.59% | Loans with Prepayment Penalties: | 23.36% |
W.A. Original Combined LTV: | 96.48% | Interest Only Loans: | 1.90% |
Range: | 33.12% - 100.00% | W.A. Interest Only Term (Months): | 69 |
First Liens: | 0.00% | ||
Second Liens: | 100.00% | ||
Non-Balloon Loans: | 16.78% | ||
W.A. FICO: | 701 | ||
Index Type: | |||
Fixed Rate: | 100.00% |
* | Based on the 2007 ‘Second Mortgages’ loan limits only |
** | Unless otherwise stated, all percentages are based on Aggregate Principal Balance as of the Cutoff Date |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
25
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Originator | |||||||||||||||||||
Originator | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
American Home Mortgage | 1,271 | 80,644,110 | 21.41 | 12.247 | 703 | 96.30 | |||||||||||||
GMAC | 1,668 | 78,521,877 | 20.85 | 11.416 | 714 | 93.68 | |||||||||||||
Chapel | 862 | 62,080,036 | 16.48 | 11.109 | 695 | 97.55 | |||||||||||||
Mortgage IT | 398 | 25,209,412 | 6.69 | 10.827 | 702 | 95.50 | |||||||||||||
Other | 2,258 | 130,218,995 | 34.57 | 11.757 | 696 | 97.95 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
Product Type | |||||||||||||||||||
Product Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Fixed - 10 Year | 2 | 86,028 | 0.02 | 9.390 | 699 | 85.07 | |||||||||||||
Fixed - 15 Year | 157 | 5,787,304 | 1.54 | 11.502 | 699 | 89.98 | |||||||||||||
Fixed - 20 Year | 33 | 1,250,842 | 0.33 | 11.986 | 696 | 97.30 | |||||||||||||
Fixed - 25 Year | 4 | 198,670 | 0.05 | 10.267 | 682 | 84.19 | |||||||||||||
Fixed - 25 Year IO | 44 | 2,187,950 | 0.58 | 11.432 | 721 | 94.27 | |||||||||||||
Fixed - 30 Year | 906 | 49,058,808 | 13.02 | 12.164 | 693 | 98.23 | |||||||||||||
Fixed - 30 Year IO | 62 | 4,626,655 | 1.23 | 11.857 | 719 | 97.41 | |||||||||||||
Balloon - 15/30 | 5,239 | 312,689,404 | 83.01 | 11.536 | 703 | 96.33 | |||||||||||||
Balloon - 15/30 IO | 5 | 333,700 | 0.09 | 13.293 | 676 | 92.83 | |||||||||||||
Balloon - 30/40 | 5 | 455,068 | 0.12 | 11.169 | 666 | 99.01 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
Principal Balance at Origination |
Principal Balance at Origination ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0.01 - 50,000.00 | 3,447 | 109,743,525 | 29.13 | 11.860 | 701 | 96.14 | |||||||||||||
50,000.01 - 100,000.00 | 2,284 | 160,832,316 | 42.70 | 11.548 | 699 | 96.87 | |||||||||||||
100,000.01 - 150,000.00 | 523 | 63,306,256 | 16.81 | 11.436 | 702 | 97.88 | |||||||||||||
150,000.01 - 200,000.00 | 136 | 23,862,919 | 6.34 | 11.998 | 701 | 95.61 | |||||||||||||
200,000.01 - 250,000.00 | 31 | 7,072,300 | 1.88 | 11.037 | 717 | 96.10 | |||||||||||||
250,000.01 - 300,000.00 | 16 | 4,390,330 | 1.17 | 10.935 | 719 | 95.10 | |||||||||||||
300,000.01 - 350,000.00 | 9 | 3,020,912 | 0.80 | 10.921 | 733 | 85.81 | |||||||||||||
350,000.01 - 400,000.00 | 8 | 3,095,114 | 0.82 | 11.693 | 705 | 83.99 | |||||||||||||
400,000.01 - 450,000.00 | 2 | 852,247 | 0.23 | 10.468 | 745 | 92.54 | |||||||||||||
450,000.01 - 500,000.00 | 1 | 498,510 | 0.13 | 8.650 | 798 | 74.07 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
26
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Remaining Principal Balance | |||||||||||||||||||
Remaining Principal Balance ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0.01 - 50,000.00 | 3,455 | 110,053,872 | 29.22 | 11.858 | 701 | 96.12 | |||||||||||||
50,000.01 - 100,000.00 | 2,279 | 160,767,350 | 42.68 | 11.549 | 699 | 96.89 | |||||||||||||
100,000.01 - 150,000.00 | 521 | 63,119,564 | 16.76 | 11.437 | 702 | 97.87 | |||||||||||||
150,000.01 - 200,000.00 | 135 | 23,804,231 | 6.32 | 11.998 | 701 | 95.61 | |||||||||||||
200,000.01 - 250,000.00 | 31 | 7,072,300 | 1.88 | 11.037 | 717 | 96.10 | |||||||||||||
250,000.01 - 300,000.00 | 16 | 4,390,330 | 1.17 | 10.935 | 719 | 95.10 | |||||||||||||
300,000.01 - 350,000.00 | 9 | 3,020,912 | 0.80 | 10.921 | 733 | 85.81 | |||||||||||||
350,000.01 - 400,000.00 | 8 | 3,095,114 | 0.82 | 11.693 | 705 | 83.99 | |||||||||||||
400,000.01 - 450,000.00 | 2 | 852,247 | 0.23 | 10.468 | 745 | 92.54 | |||||||||||||
450,000.01 - 500,000.00 | 1 | 498,510 | 0.13 | 8.650 | 798 | 74.07 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
Remaining Term | |||||||||||||||||||
Months Remaining | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
61 - 120 | 2 | 86,028 | 0.02 | 9.390 | 699 | 85.07 | |||||||||||||
121 - 180 | 5,401 | 318,810,408 | 84.64 | 11.537 | 702 | 96.21 | |||||||||||||
181 - 240 | 33 | 1,250,842 | 0.33 | 11.986 | 696 | 97.30 | |||||||||||||
241 - 300 | 48 | 2,386,620 | 0.63 | 11.335 | 718 | 93.43 | |||||||||||||
301 - 360 | 973 | 54,140,532 | 14.37 | 12.129 | 695 | 98.17 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
Interest Only Term | |||||||||||||||||||
IO Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0 | 6,346 | 369,526,125 | 98.10 | 11.618 | 701 | 96.48 | |||||||||||||
60 | 101 | 6,065,296 | 1.61 | 11.642 | 717 | 95.95 | |||||||||||||
120 | 10 | 1,083,009 | 0.29 | 12.646 | 722 | 97.83 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
27
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Mortgage Rate | |||||||||||||||||||
Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
6.500 - 6.999 | 5 | 244,135 | 0.06 | 6.683 | 729 | 96.95 | |||||||||||||
7.000 - 7.499 | 29 | 1,641,112 | 0.44 | 7.242 | 724 | 86.72 | |||||||||||||
7.500 - 7.999 | 51 | 3,088,659 | 0.82 | 7.767 | 733 | 92.59 | |||||||||||||
8.000 - 8.499 | 80 | 4,429,572 | 1.18 | 8.203 | 741 | 93.97 | |||||||||||||
8.500 - 8.999 | 152 | 10,340,210 | 2.75 | 8.717 | 731 | 91.57 | |||||||||||||
9.000 - 9.499 | 234 | 16,095,888 | 4.27 | 9.193 | 724 | 94.95 | |||||||||||||
9.500 - 9.999 | 681 | 38,262,806 | 10.16 | 9.753 | 719 | 94.26 | |||||||||||||
10.000 - 10.499 | 495 | 29,444,649 | 7.82 | 10.165 | 706 | 95.43 | |||||||||||||
10.500 - 10.999 | 756 | 50,093,325 | 13.30 | 10.785 | 696 | 97.31 | |||||||||||||
11.000 - 11.499 | 503 | 31,943,174 | 8.48 | 11.174 | 696 | 97.29 | |||||||||||||
11.500 - 11.999 | 543 | 33,239,499 | 8.82 | 11.713 | 696 | 96.72 | |||||||||||||
12.000 - 12.499 | 551 | 31,581,222 | 8.38 | 12.179 | 697 | 96.99 | |||||||||||||
12.500 - 12.999 | 776 | 45,157,810 | 11.99 | 12.676 | 698 | 97.19 | |||||||||||||
13.000 - 13.499 | 481 | 24,714,484 | 6.56 | 13.146 | 700 | 97.51 | |||||||||||||
13.500 - 13.999 | 351 | 16,775,365 | 4.45 | 13.671 | 693 | 97.17 | |||||||||||||
14.000 - 14.499 | 256 | 12,350,481 | 3.28 | 14.186 | 683 | 98.40 | |||||||||||||
14.500 - 14.999 | 221 | 12,767,619 | 3.39 | 14.649 | 687 | 98.12 | |||||||||||||
15.000 - 15.499 | 101 | 5,154,622 | 1.37 | 15.165 | 682 | 97.33 | |||||||||||||
15.500 - 15.999 | 74 | 3,692,322 | 0.98 | 15.708 | 674 | 97.91 | |||||||||||||
16.000 - 16.499 | 35 | 1,847,606 | 0.49 | 16.191 | 685 | 98.11 | |||||||||||||
16.500 - 16.999 | 18 | 993,635 | 0.26 | 16.595 | 705 | 99.56 | |||||||||||||
17.000 - 17.499 | 20 | 719,664 | 0.19 | 17.119 | 699 | 98.97 | |||||||||||||
17.500 - 17.999 | 25 | 995,634 | 0.26 | 17.732 | 668 | 100.00 | |||||||||||||
18.000 - 18.499 | 8 | 463,467 | 0.12 | 18.266 | 687 | 99.16 | |||||||||||||
18.500 - 18.999 | 7 | 443,998 | 0.12 | 18.645 | 661 | 98.99 | |||||||||||||
19.000 - 19.499 | 1 | 51,396 | 0.01 | 19.000 | 688 | 100.00 | |||||||||||||
19.500 - 19.999 | 1 | 56,686 | 0.02 | 19.625 | 716 | 100.00 | |||||||||||||
20.000 - 20.499 | 1 | 23,997 | 0.01 | 20.000 | 672 | 95.00 | |||||||||||||
20.500 - 20.999 | 1 | 61,393 | 0.02 | 20.625 | 684 | 100.00 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
28
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Original Combined Loan-to-Value Ratio | |||||||||||||||||||
Original Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Less than or equal to 50.00 | 11 | 761,983 | 0.20 | 9.833 | 691 | 41.65 | |||||||||||||
50.01 - 55.00 | 3 | 168,637 | 0.04 | 8.715 | 737 | 54.47 | |||||||||||||
55.01 - 60.00 | 13 | 813,183 | 0.22 | 9.246 | 703 | 58.81 | |||||||||||||
60.01 - 65.00 | 9 | 447,903 | 0.12 | 9.668 | 668 | 62.43 | |||||||||||||
65.01 - 70.00 | 22 | 1,613,585 | 0.43 | 9.964 | 686 | 67.77 | |||||||||||||
70.01 - 75.00 | 32 | 3,830,595 | 1.02 | 10.261 | 701 | 73.42 | |||||||||||||
75.01 - 80.00 | 111 | 7,679,964 | 2.04 | 9.938 | 701 | 79.16 | |||||||||||||
80.01 - 85.00 | 129 | 6,709,431 | 1.78 | 10.578 | 694 | 83.71 | |||||||||||||
85.01 - 90.00 | 876 | 40,888,758 | 10.86 | 11.221 | 703 | 89.59 | |||||||||||||
90.01 - 95.00 | 1,313 | 65,975,582 | 17.52 | 12.010 | 708 | 94.76 | |||||||||||||
95.01 - 100.00 | 3,938 | 247,784,808 | 65.78 | 11.716 | 700 | 99.88 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
FICO Score at Origination | |||||||||||||||||||
FICO Score at Origination | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
575 - 599 | 30 | 1,393,503 | 0.37 | 11.471 | 588 | 99.72 | |||||||||||||
600 - 624 | 156 | 8,614,162 | 2.29 | 12.533 | 618 | 97.15 | |||||||||||||
625 - 649 | 633 | 36,554,953 | 9.70 | 12.872 | 637 | 96.83 | |||||||||||||
650 - 674 | 1,055 | 62,923,568 | 16.71 | 11.951 | 663 | 96.12 | |||||||||||||
675 - 699 | 1,448 | 86,110,442 | 22.86 | 11.617 | 687 | 96.04 | |||||||||||||
700 - 724 | 1,141 | 66,715,869 | 17.71 | 11.234 | 712 | 96.78 | |||||||||||||
725 - 749 | 940 | 53,001,952 | 14.07 | 11.225 | 736 | 96.83 | |||||||||||||
750 - 774 | 626 | 36,736,562 | 9.75 | 11.239 | 761 | 96.59 | |||||||||||||
775 - 799 | 354 | 20,194,038 | 5.36 | 11.046 | 786 | 96.45 | |||||||||||||
800 - 824 | 73 | 4,392,453 | 1.17 | 11.398 | 805 | 95.31 | |||||||||||||
825 - 849 | 1 | 36,928 | 0.01 | 9.625 | 836 | 98.50 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
29
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Geographic Distribution* | |||||||||||||||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
California | 1,244 | 108,046,804 | 28.68 | 11.017 | 701 | 96.01 | |||||||||||||
Florida | 671 | 38,695,052 | 10.27 | 12.313 | 700 | 95.59 | |||||||||||||
Arizona | 440 | 24,836,041 | 6.59 | 11.723 | 700 | 97.02 | |||||||||||||
Nevada | 380 | 24,136,716 | 6.41 | 11.703 | 702 | 97.67 | |||||||||||||
Texas | 495 | 17,305,474 | 4.59 | 11.340 | 714 | 97.43 | |||||||||||||
Virginia | 212 | 14,174,571 | 3.76 | 11.751 | 702 | 97.02 | |||||||||||||
Illinois | 268 | 13,765,797 | 3.65 | 11.751 | 697 | 97.53 | |||||||||||||
Maryland | 195 | 12,956,805 | 3.44 | 11.606 | 694 | 97.87 | |||||||||||||
Washington | 188 | 11,532,168 | 3.06 | 11.534 | 702 | 96.38 | |||||||||||||
New York | 139 | 10,476,303 | 2.78 | 11.784 | 701 | 95.43 | |||||||||||||
Minnesota | 197 | 9,587,384 | 2.55 | 12.199 | 703 | 98.18 | |||||||||||||
Colorado | 193 | 9,504,531 | 2.52 | 12.046 | 703 | 97.74 | |||||||||||||
Oregon | 158 | 8,527,117 | 2.26 | 11.474 | 698 | 96.23 | |||||||||||||
North Carolina | 172 | 6,674,133 | 1.77 | 11.751 | 703 | 95.94 | |||||||||||||
Utah | 132 | 6,540,977 | 1.74 | 11.896 | 712 | 96.28 | |||||||||||||
Georgia | 169 | 6,258,932 | 1.66 | 12.352 | 703 | 97.61 | |||||||||||||
Massachusetts | 89 | 5,876,911 | 1.56 | 11.734 | 716 | 95.48 | |||||||||||||
New Jersey | 84 | 5,660,385 | 1.50 | 11.803 | 696 | 95.77 | |||||||||||||
Connecticut | 73 | 4,511,231 | 1.20 | 12.113 | 702 | 95.63 | |||||||||||||
Michigan | 133 | 4,491,711 | 1.19 | 12.303 | 684 | 97.25 | |||||||||||||
Ohio | 84 | 2,840,633 | 0.75 | 12.195 | 693 | 98.39 | |||||||||||||
Missouri | 86 | 2,764,355 | 0.73 | 11.785 | 704 | 95.76 | |||||||||||||
Idaho | 52 | 2,726,108 | 0.72 | 11.193 | 715 | 93.57 | |||||||||||||
South Carolina | 60 | 2,597,749 | 0.69 | 12.068 | 707 | 96.17 | |||||||||||||
Pennsylvania | 71 | 2,257,899 | 0.60 | 12.089 | 709 | 95.85 | |||||||||||||
Hawaii | 14 | 2,006,649 | 0.53 | 10.660 | 722 | 94.68 | |||||||||||||
District of Columbia | 21 | 1,886,093 | 0.50 | 11.105 | 709 | 89.62 | |||||||||||||
Wisconsin | 47 | 1,567,935 | 0.42 | 12.574 | 699 | 96.63 | |||||||||||||
New Mexico | 38 | 1,516,576 | 0.40 | 12.604 | 708 | 96.46 | |||||||||||||
New Hampshire | 24 | 1,391,285 | 0.37 | 12.352 | 701 | 98.53 | |||||||||||||
Louisiana | 37 | 1,187,007 | 0.32 | 13.426 | 679 | 96.32 | |||||||||||||
Indiana | 41 | 1,137,541 | 0.30 | 12.385 | 694 | 96.97 | |||||||||||||
Rhode Island | 20 | 1,053,750 | 0.28 | 11.672 | 687 | 91.91 | |||||||||||||
Kentucky | 22 | 890,660 | 0.24 | 11.840 | 679 | 97.89 | |||||||||||||
Tennessee | 30 | 883,850 | 0.23 | 12.032 | 711 | 97.01 | |||||||||||||
West Virginia | 13 | 785,911 | 0.21 | 14.012 | 661 | 99.27 | |||||||||||||
Maine | 19 | 657,681 | 0.17 | 12.557 | 701 | 96.78 |
*Geographic Distribution continued on the next page
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
30
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Geographic Distribution (continued) | |||||||||||||||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Alaska | 11 | 631,160 | 0.17 | 12.373 | 739 | 98.16 | |||||||||||||
Kansas | 21 | 609,390 | 0.16 | 11.103 | 706 | 94.30 | |||||||||||||
Arkansas | 14 | 606,461 | 0.16 | 11.834 | 725 | 97.34 | |||||||||||||
Oklahoma | 23 | 557,677 | 0.15 | 12.248 | 708 | 97.49 | |||||||||||||
Alabama | 17 | 448,971 | 0.12 | 11.832 | 685 | 95.53 | |||||||||||||
Delaware | 12 | 433,598 | 0.12 | 12.458 | 692 | 97.88 | |||||||||||||
Montana | 9 | 429,135 | 0.11 | 12.301 | 683 | 99.18 | |||||||||||||
Iowa | 11 | 317,190 | 0.08 | 11.381 | 725 | 95.12 | |||||||||||||
Vermont | 4 | 213,056 | 0.06 | 12.926 | 717 | 99.42 | |||||||||||||
Nebraska | 7 | 190,280 | 0.05 | 12.318 | 707 | 93.46 | |||||||||||||
Wyoming | 7 | 168,991 | 0.04 | 13.232 | 707 | 94.19 | |||||||||||||
North Dakota | 4 | 146,454 | 0.04 | 10.870 | 748 | 91.67 | |||||||||||||
Mississippi | 4 | 143,413 | 0.04 | 10.728 | 678 | 88.47 | |||||||||||||
South Dakota | 2 | 67,928 | 0.02 | 16.276 | 683 | 100.00 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
31
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Occupancy Status | |||||||||||||||||||
Occupancy Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Primary | 4,312 | 284,977,667 | 75.66 | 11.198 | 695 | 96.63 | |||||||||||||
Investment | 1,852 | 74,436,027 | 19.76 | 13.083 | 722 | 96.07 | |||||||||||||
Second Home | 293 | 17,260,737 | 4.58 | 12.322 | 718 | 95.69 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
Documentation Type | |||||||||||||||||||
Documentation Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Stated Documentation | 2,246 | 139,757,434 | 37.10 | 11.462 | 697 | 96.70 | |||||||||||||
No Ratio | 1,530 | 95,136,541 | 25.26 | 11.644 | 711 | 96.77 | |||||||||||||
Full Documentation | 945 | 44,818,382 | 11.90 | 10.787 | 701 | 97.89 | |||||||||||||
No Documentation | 712 | 36,864,563 | 9.79 | 11.969 | 717 | 92.03 | |||||||||||||
Stated Income/Full Asset | 423 | 26,238,441 | 6.97 | 13.106 | 680 | 96.58 | |||||||||||||
No Income Verifier | 363 | 20,808,807 | 5.52 | 12.068 | 703 | 98.25 | |||||||||||||
Full Income/Full Asset | 127 | 6,384,890 | 1.70 | 10.814 | 684 | 95.60 | |||||||||||||
Limited Documentation | 59 | 3,370,572 | 0.89 | 11.015 | 656 | 99.50 | |||||||||||||
Stated Income/Stated Asset | 41 | 2,744,000 | 0.73 | 12.726 | 710 | 96.02 | |||||||||||||
No Income/No Asset | 4 | 294,619 | 0.08 | 12.854 | 720 | 93.82 | |||||||||||||
Full Income/Stated Asset | 7 | 256,181 | 0.07 | 13.389 | 662 | 99.17 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
Loan Purpose | |||||||||||||||||||
Loan Purpose | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Purchase | 4,970 | 283,724,276 | 75.32 | 11.770 | 706 | 98.04 | |||||||||||||
Refinance - Cashout | 1,138 | 74,606,179 | 19.81 | 11.187 | 688 | 91.57 | |||||||||||||
Refinance - Rate Term | 349 | 18,343,976 | 4.87 | 11.100 | 690 | 92.19 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
32
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE TOTAL COLLATERAL |
Property Type | |||||||||||||||||||
Property Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Single Family Residence | 3,718 | 215,001,262 | 57.08 | 11.436 | 699 | 96.51 | |||||||||||||
PUD | 1,526 | 94,118,866 | 24.99 | 11.614 | 702 | 96.61 | |||||||||||||
Condo | 620 | 34,505,002 | 9.16 | 11.910 | 708 | 96.36 | |||||||||||||
2-4 Family | 559 | 31,768,071 | 8.43 | 12.600 | 712 | 96.03 | |||||||||||||
Townhouse | 34 | 1,281,230 | 0.34 | 11.362 | 702 | 96.38 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
Original Prepayment Penalty Term | |||||||||||||||||||
Prepayment Penalty Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0 | 5,066 | 288,683,299 | 76.64 | 11.698 | 704 | 96.19 | |||||||||||||
6 | 30 | 1,993,452 | 0.53 | 12.883 | 718 | 96.97 | |||||||||||||
12 | 134 | 9,373,454 | 2.49 | 11.534 | 694 | 95.60 | |||||||||||||
24 | 603 | 39,736,043 | 10.55 | 11.083 | 685 | 99.08 | |||||||||||||
36 | 620 | 36,705,595 | 9.74 | 11.565 | 696 | 96.12 | |||||||||||||
60 | 4 | 182,588 | 0.05 | 10.350 | 730 | 97.68 | |||||||||||||
Total: | 6,457 | 376,674,430 | 100.00 | 11.622 | 701 | 96.48 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
33
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
SUMMARY - GROUP I** | |||
Number of Mortgage Loans: | 1,487 | Property Type: | |
Aggregate Principal Balance: | $67,277,963 | Single Family: | 66.54% |
Conforming Balance:* | $67,277,963 | PUD: | 18.99% |
Average Principal Balance: | $45,244 | 2-4 Family: | 5.07% |
Range: | $382 - $199,931 | Condo: | 8.86% |
W.A. Coupon: | 11.025% | Townhouse: | 0.54% |
Range: | 6.500% - 16.375% | Occupancy Status: | |
W.A. Remaining Term (Months): | 199 | Primary: | 100.00% |
Range (Months): | 116 - 360 | Investment: | 0.00% |
W.A. Seasoning (Months): | 4 | Second Home: | 0.00% |
Latest Maturity Date: | February 1, 2037 | Documentation Status: | |
State Concentration (Top 5): | Full: | 21.95% | |
California: | 17.96% | Stated: | 50.16% |
Florida: | 7.87% | Limited: | 0.98% |
Arizona: | 7.22% | No Documentation: | 26.90% |
Oregon: | 5.58% | W.A. Prepayment Term (Months): | 28 |
Nevada: | 5.57% | Loans with Prepayment Penalties: | 26.47% |
W.A. Original Combined LTV: | 94.52% | Interest Only Loans: | 1.85% |
Range: | 33.12% - 100.00% | W.A. Interest Only Term (Months): | 60 |
First Liens: | 0.00% | ||
Second Liens: | 100.00% | ||
Non-Balloon Loans: | 17.48% | ||
W.A. FICO: | 684 | ||
Index Type: | |||
Fixed Rate: | 100.00% |
* | Based on the 2007 ‘Second Mortgages’ loan limits only |
** | Unless otherwise stated, all percentages are based on Aggregate Principal Balance as of the Cutoff Date |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
34
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Originator | |||||||||||||||||||
Originator | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
GMAC | 330 | 14,357,817 | 21.34 | 10.662 | 691 | 86.67 | |||||||||||||
American Home Mortgage | 301 | 14,079,895 | 20.93 | 11.591 | 681 | 95.94 | |||||||||||||
Chapel | 266 | 13,140,412 | 19.53 | 10.904 | 688 | 96.67 | |||||||||||||
Mortgage IT | 132 | 4,845,962 | 7.20 | 11.135 | 679 | 93.56 | |||||||||||||
Other | 458 | 20,853,876 | 31.00 | 10.943 | 679 | 97.82 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
Product Type | |||||||||||||||||||
Product Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Fixed - 10 Year | 1 | 34,077 | 0.05 | 8.475 | 705 | 62.31 | |||||||||||||
Fixed - 15 Year | 59 | 2,493,240 | 3.71 | 10.846 | 689 | 84.96 | |||||||||||||
Fixed - 20 Year | 13 | 419,388 | 0.62 | 10.973 | 697 | 96.61 | |||||||||||||
Fixed - 25 Year | 4 | 198,670 | 0.30 | 10.267 | 682 | 84.19 | |||||||||||||
Fixed - 25 Year IO | 17 | 687,953 | 1.02 | 10.282 | 707 | 86.18 | |||||||||||||
Fixed - 30 Year | 166 | 7,496,942 | 11.14 | 11.037 | 679 | 95.54 | |||||||||||||
Fixed - 30 Year IO | 9 | 427,200 | 0.63 | 9.859 | 717 | 98.72 | |||||||||||||
Balloon - 15/30 | 1,215 | 55,346,398 | 82.27 | 11.052 | 683 | 94.91 | |||||||||||||
Balloon - 15/30 IO | 2 | 129,000 | 0.19 | 11.875 | 685 | 98.18 | |||||||||||||
Balloon - 30/40 | 1 | 45,095 | 0.07 | 10.875 | 735 | 89.98 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
Principal Balance at Origination | |||||||||||||||||||
Principal Balance at Origination ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0.01 - 50,000.00 | 1,011 | 33,566,978 | 49.89 | 11.138 | 681 | 95.07 | |||||||||||||
50,000.01 - 100,000.00 | 444 | 29,431,387 | 43.75 | 10.900 | 685 | 94.10 | |||||||||||||
100,000.01 - 150,000.00 | 26 | 3,212,558 | 4.78 | 11.013 | 698 | 92.89 | |||||||||||||
150,000.01 - 200,000.00 | 6 | 1,067,039 | 1.59 | 10.967 | 700 | 93.35 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
35
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Remaining Principal Balance | |||||||||||||||||||
Remaining Principal Balance ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0.01 - 50,000.00 | 1,013 | 33,662,147 | 50.03 | 11.133 | 681 | 94.99 | |||||||||||||
50,000.01 - 100,000.00 | 442 | 29,336,219 | 43.60 | 10.904 | 685 | 94.19 | |||||||||||||
100,000.01 - 150,000.00 | 26 | 3,212,558 | 4.78 | 11.013 | 698 | 92.89 | |||||||||||||
150,000.01 - 200,000.00 | 6 | 1,067,039 | 1.59 | 10.967 | 700 | 93.35 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
Remaining Term | |||||||||||||||||||
Months Remaining | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
61 - 120 | 1 | 34,077 | 0.05 | 8.475 | 705 | 62.31 | |||||||||||||
121 - 180 | 1,276 | 57,968,638 | 86.16 | 11.045 | 684 | 94.49 | |||||||||||||
181 - 240 | 13 | 419,388 | 0.62 | 10.973 | 697 | 96.61 | |||||||||||||
241 - 300 | 21 | 886,623 | 1.32 | 10.278 | 702 | 85.74 | |||||||||||||
301 - 360 | 176 | 7,969,237 | 11.85 | 10.973 | 681 | 95.68 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
Interest Only Term | |||||||||||||||||||
IO Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0 | 1,459 | 66,033,809 | 98.15 | 11.039 | 683 | 94.57 | |||||||||||||
60 | 28 | 1,244,153 | 1.85 | 10.302 | 708 | 91.73 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
36
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Mortgage Rate | |||||||||||||||||||
Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
6.500 - 6.999 | 4 | 212,556 | 0.32 | 6.654 | 732 | 97.98 | |||||||||||||
7.000 - 7.499 | 14 | 588,024 | 0.87 | 7.194 | 715 | 84.18 | |||||||||||||
7.500 - 7.999 | 26 | 1,450,657 | 2.16 | 7.745 | 724 | 88.62 | |||||||||||||
8.000 - 8.499 | 36 | 1,758,057 | 2.61 | 8.187 | 737 | 90.60 | |||||||||||||
8.500 - 8.999 | 63 | 2,947,289 | 4.38 | 8.728 | 717 | 85.86 | |||||||||||||
9.000 - 9.499 | 81 | 3,314,047 | 4.93 | 9.186 | 716 | 91.70 | |||||||||||||
9.500 - 9.999 | 190 | 8,882,110 | 13.20 | 9.738 | 703 | 91.57 | |||||||||||||
10.000 - 10.499 | 151 | 6,865,358 | 10.20 | 10.187 | 694 | 92.77 | |||||||||||||
10.500 - 10.999 | 236 | 10,879,270 | 16.17 | 10.797 | 681 | 96.44 | |||||||||||||
11.000 - 11.499 | 123 | 5,264,892 | 7.83 | 11.179 | 686 | 95.88 | |||||||||||||
11.500 - 11.999 | 134 | 5,988,011 | 8.90 | 11.711 | 672 | 96.79 | |||||||||||||
12.000 - 12.499 | 95 | 4,286,212 | 6.37 | 12.182 | 660 | 97.19 | |||||||||||||
12.500 - 12.999 | 121 | 5,862,621 | 8.71 | 12.688 | 662 | 96.44 | |||||||||||||
13.000 - 13.499 | 75 | 3,056,785 | 4.54 | 13.197 | 654 | 97.33 | |||||||||||||
13.500 - 13.999 | 57 | 2,255,107 | 3.35 | 13.658 | 658 | 96.41 | |||||||||||||
14.000 - 14.499 | 36 | 1,816,819 | 2.70 | 14.196 | 640 | 98.57 | |||||||||||||
14.500 - 14.999 | 24 | 1,053,079 | 1.57 | 14.625 | 652 | 99.05 | |||||||||||||
15.000 - 15.499 | 7 | 278,487 | 0.41 | 15.267 | 639 | 99.97 | |||||||||||||
15.500 - 15.999 | 9 | 390,699 | 0.58 | 15.749 | 632 | 99.71 | |||||||||||||
16.000 - 16.499 | 5 | 127,882 | 0.19 | 16.194 | 626 | 100.00 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
37
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Original Combined Loan-to-Value Ratio | |||||||||||||||||||
Original Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Less than or equal to 50.00 | 8 | 455,644 | 0.68 | 9.527 | 679 | 38.90 | |||||||||||||
50.01 - 55.00 | 3 | 168,637 | 0.25 | 8.715 | 737 | 54.47 | |||||||||||||
55.01 - 60.00 | 11 | 619,101 | 0.92 | 9.191 | 690 | 58.52 | |||||||||||||
60.01 - 65.00 | 6 | 277,623 | 0.41 | 9.398 | 652 | 62.06 | |||||||||||||
65.01 - 70.00 | 14 | 782,810 | 1.16 | 9.721 | 679 | 67.56 | |||||||||||||
70.01 - 75.00 | 14 | 750,060 | 1.11 | 9.497 | 692 | 72.58 | |||||||||||||
75.01 - 80.00 | 43 | 2,147,733 | 3.19 | 9.602 | 675 | 78.18 | |||||||||||||
80.01 - 85.00 | 72 | 2,786,392 | 4.14 | 10.065 | 686 | 83.57 | |||||||||||||
85.01 - 90.00 | 245 | 8,705,172 | 12.94 | 10.669 | 689 | 89.36 | |||||||||||||
90.01 - 95.00 | 223 | 10,372,923 | 15.42 | 11.257 | 684 | 94.40 | |||||||||||||
95.01 - 100.00 | 848 | 40,211,869 | 59.77 | 11.305 | 683 | 99.80 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
FICO Score at Origination | |||||||||||||||||||
FICO Score at Origination | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
575 - 599 | 18 | 652,193 | 0.97 | 11.433 | 589 | 99.51 | |||||||||||||
600 - 624 | 75 | 3,218,663 | 4.78 | 12.172 | 618 | 94.98 | |||||||||||||
625 - 649 | 256 | 11,633,383 | 17.29 | 12.419 | 637 | 94.05 | |||||||||||||
650 - 674 | 363 | 16,235,501 | 24.13 | 11.395 | 662 | 94.09 | |||||||||||||
675 - 699 | 314 | 13,829,715 | 20.56 | 10.788 | 686 | 94.99 | |||||||||||||
700 - 724 | 181 | 8,694,371 | 12.92 | 10.216 | 712 | 95.19 | |||||||||||||
725 - 749 | 144 | 6,853,962 | 10.19 | 10.044 | 735 | 94.40 | |||||||||||||
750 - 774 | 76 | 3,694,617 | 5.49 | 9.799 | 761 | 94.11 | |||||||||||||
775 - 799 | 51 | 2,021,750 | 3.01 | 9.245 | 785 | 94.82 | |||||||||||||
800 - 824 | 8 | 406,881 | 0.60 | 8.629 | 805 | 86.14 | |||||||||||||
825 - 849 | 1 | 36,928 | 0.05 | 9.625 | 836 | 98.50 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
38
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Geographic Distribution* | |||||||||||||||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
California | 206 | 12,079,967 | 17.96 | 10.632 | 687 | 89.45 | |||||||||||||
Florida | 122 | 5,296,815 | 7.87 | 11.113 | 680 | 91.99 | |||||||||||||
Arizona | 117 | 4,860,123 | 7.22 | 11.157 | 682 | 96.51 | |||||||||||||
Oregon | 77 | 3,752,548 | 5.58 | 10.667 | 687 | 94.63 | |||||||||||||
Nevada | 77 | 3,746,995 | 5.57 | 10.802 | 687 | 96.64 | |||||||||||||
Washington | 64 | 3,562,231 | 5.29 | 10.925 | 687 | 95.84 | |||||||||||||
Illinois | 80 | 3,464,966 | 5.15 | 11.184 | 677 | 96.32 | |||||||||||||
Colorado | 70 | 3,235,322 | 4.81 | 11.025 | 690 | 97.33 | |||||||||||||
Maryland | 53 | 2,770,352 | 4.12 | 11.123 | 686 | 95.93 | |||||||||||||
Virginia | 52 | 2,659,301 | 3.95 | 11.266 | 690 | 97.36 | |||||||||||||
Minnesota | 51 | 2,194,637 | 3.26 | 11.393 | 674 | 98.49 | |||||||||||||
Massachusetts | 31 | 1,833,481 | 2.73 | 11.179 | 686 | 94.23 | |||||||||||||
Michigan | 50 | 1,518,282 | 2.26 | 12.039 | 665 | 96.81 | |||||||||||||
Georgia | 42 | 1,513,874 | 2.25 | 10.772 | 694 | 97.68 | |||||||||||||
North Carolina | 38 | 1,413,670 | 2.10 | 10.769 | 694 | 96.64 | |||||||||||||
Missouri | 34 | 1,118,320 | 1.66 | 11.328 | 693 | 96.90 | |||||||||||||
New York | 17 | 1,094,884 | 1.63 | 9.891 | 682 | 88.37 | |||||||||||||
Utah | 28 | 1,080,643 | 1.61 | 12.072 | 677 | 95.26 | |||||||||||||
Connecticut | 25 | 1,071,615 | 1.59 | 11.173 | 684 | 94.94 | |||||||||||||
Texas | 33 | 986,657 | 1.47 | 10.796 | 675 | 98.65 | |||||||||||||
New Jersey | 18 | 877,584 | 1.30 | 11.009 | 671 | 93.63 | |||||||||||||
Ohio | 23 | 663,049 | 0.99 | 11.948 | 671 | 97.70 | |||||||||||||
Pennsylvania | 19 | 584,983 | 0.87 | 11.271 | 714 | 97.15 | |||||||||||||
Idaho | 13 | 526,137 | 0.78 | 10.391 | 671 | 92.82 | |||||||||||||
Hawaii | 4 | 502,705 | 0.75 | 11.576 | 708 | 97.93 | |||||||||||||
Wisconsin | 19 | 500,267 | 0.74 | 11.905 | 682 | 94.66 | |||||||||||||
Rhode Island | 10 | 482,984 | 0.72 | 10.652 | 683 | 85.97 | |||||||||||||
South Carolina | 12 | 449,459 | 0.67 | 11.471 | 666 | 92.19 | |||||||||||||
Kansas | 10 | 366,587 | 0.54 | 10.617 | 693 | 92.29 | |||||||||||||
Indiana | 12 | 348,154 | 0.52 | 11.993 | 662 | 97.50 | |||||||||||||
Louisiana | 11 | 311,532 | 0.46 | 13.148 | 645 | 93.38 | |||||||||||||
New Hampshire | 7 | 281,230 | 0.42 | 11.949 | 660 | 96.92 | |||||||||||||
Kentucky | 9 | 259,701 | 0.39 | 11.176 | 652 | 97.91 | |||||||||||||
Maine | 8 | 248,885 | 0.37 | 12.645 | 673 | 96.25 | |||||||||||||
Montana | 5 | 199,037 | 0.30 | 12.050 | 673 | 98.23 | |||||||||||||
Alaska | 4 | 197,350 | 0.29 | 9.936 | 713 | 98.03 | |||||||||||||
Alabama | 6 | 173,664 | 0.26 | 11.104 | 677 | 100.00 |
*Geographic Distribution continued on the next page
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
39
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Geographic Distribution (continued) | |||||||||||||||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
New Mexico | 5 | 158,009 | 0.23 | 11.344 | 685 | 95.03 | |||||||||||||
West Virginia | 3 | 142,599 | 0.21 | 13.135 | 647 | 99.99 | |||||||||||||
Tennessee | 5 | 133,835 | 0.20 | 9.471 | 704 | 97.94 | |||||||||||||
Delaware | 3 | 117,455 | 0.17 | 10.966 | 687 | 98.59 | |||||||||||||
Mississippi | 2 | 116,619 | 0.17 | 9.929 | 667 | 88.81 | |||||||||||||
Nebraska | 4 | 89,200 | 0.13 | 11.872 | 680 | 91.71 | |||||||||||||
Oklahoma | 2 | 84,030 | 0.12 | 10.345 | 677 | 100.00 | |||||||||||||
Wyoming | 2 | 57,885 | 0.09 | 12.195 | 703 | 98.05 | |||||||||||||
North Dakota | 1 | 52,888 | 0.08 | 9.450 | 751 | 81.82 | |||||||||||||
Arkansas | 1 | 38,547 | 0.06 | 11.250 | 683 | 100.00 | |||||||||||||
Vermont | 1 | 37,983 | 0.06 | 10.000 | 739 | 100.00 | |||||||||||||
Iowa | 1 | 20,921 | 0.03 | 9.875 | 718 | 100.00 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
40
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Occupancy Status | |||||||||||||||||||
Occupancy Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Primary | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
Documentation Type | |||||||||||||||||||
Documentation Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Stated Documentation | 563 | 25,441,829 | 37.82 | 11.129 | 685 | 95.90 | |||||||||||||
Full Documentation | 268 | 11,785,981 | 17.52 | 10.081 | 680 | 97.03 | |||||||||||||
No Ratio | 234 | 11,127,130 | 16.54 | 10.844 | 699 | 92.66 | |||||||||||||
No Documentation | 166 | 6,972,467 | 10.36 | 11.348 | 691 | 84.63 | |||||||||||||
Stated Income/Full Asset | 108 | 5,107,813 | 7.59 | 13.031 | 657 | 97.01 | |||||||||||||
Full Income/Full Asset | 63 | 2,852,858 | 4.24 | 10.054 | 677 | 93.82 | |||||||||||||
No Income Verifier | 56 | 2,781,075 | 4.13 | 11.215 | 675 | 97.49 | |||||||||||||
Limited Documentation | 17 | 660,455 | 0.98 | 10.605 | 638 | 99.39 | |||||||||||||
Stated Income/Stated Asset | 7 | 418,744 | 0.62 | 11.518 | 702 | 99.19 | |||||||||||||
Full Income/Stated Asset | 5 | 129,611 | 0.19 | 13.215 | 662 | 98.35 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
Loan Purpose | |||||||||||||||||||
Loan Purpose | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Refinance - Cashout | 680 | 34,082,858 | 50.66 | 10.982 | 682 | 91.64 | |||||||||||||
Purchase | 599 | 24,998,441 | 37.16 | 11.129 | 686 | 99.21 | |||||||||||||
Refinance - Rate Term | 208 | 8,196,663 | 12.18 | 10.886 | 683 | 92.19 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
41
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP I COLLATERAL |
Property Type | |||||||||||||||||||
Property Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Single Family Residence | 1,018 | 44,763,975 | 66.54 | 11.052 | 682 | 94.30 | |||||||||||||
PUD | 249 | 12,775,144 | 18.99 | 11.028 | 682 | 95.95 | |||||||||||||
Condo | 147 | 5,962,650 | 8.86 | 10.889 | 694 | 95.26 | |||||||||||||
2-4 Family | 66 | 3,411,615 | 5.07 | 10.937 | 692 | 90.98 | |||||||||||||
Townhouse | 7 | 364,579 | 0.54 | 10.686 | 681 | 91.52 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
Original Prepayment Penalty Term | |||||||||||||||||||
Prepayment Penalty Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0 | 1,100 | 49,471,530 | 73.53 | 11.078 | 684 | 94.10 | |||||||||||||
6 | 2 | 79,090 | 0.12 | 11.853 | 695 | 100.00 | |||||||||||||
12 | 27 | 1,526,610 | 2.27 | 10.803 | 697 | 91.57 | |||||||||||||
24 | 182 | 8,587,490 | 12.76 | 10.950 | 678 | 99.51 | |||||||||||||
36 | 175 | 7,560,335 | 11.24 | 10.805 | 686 | 92.06 | |||||||||||||
60 | 1 | 52,908 | 0.08 | 10.125 | 694 | 100.00 | |||||||||||||
Total: | 1,487 | 67,277,963 | 100.00 | 11.025 | 684 | 94.52 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
42
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
SUMMARY - GROUP II** | |||
Number of Mortgage Loans: | 4,970 | Property Type: | |
Aggregate Principal Balance: | $309,396,467 | Single Family: | 55.02% |
Conforming Balance:* | $291,326,431 | PUD: | 26.29% |
Average Principal Balance: | $62,253 | 2-4 Family: | 9.17% |
Range: | $930 - $498,510 | Condo: | 9.23% |
W.A. Coupon: | 11.752% | Townhouse: | 0.30% |
Range: | 6.875% - 20.625% | Occupancy Status: | |
W.A. Remaining Term (Months): | 203 | Primary: | 70.36% |
Range (Months): | 116 - 360 | Investment: | 24.06% |
W.A. Seasoning (Months): | 4 | Second Home: | 5.58% |
Latest Maturity Date: | February 1, 2037 | Documentation Status: | |
State Concentration (Top 5): | Full: | 11.86% | |
California: | 31.02% | Stated: | 50.36% |
Florida: | 10.79% | Limited: | 0.88% |
Nevada: | 6.59% | No Documentation: | 36.91% |
Arizona: | 6.46% | W.A. Prepayment Term (Months): | 27 |
Texas: | 5.27% | Loans with Prepayment Penalties: | 22.68% |
W.A. Original Combined LTV: | 96.90% | Interest Only Loans: | 1.91% |
Range: | 40.00% - 100.00% | W.A. Interest Only Term (Months): | 71 |
First Liens: | 0.00% | ||
Second Liens: | 100.00% | ||
Non-Balloon Loans: | 16.63% | ||
W.A. FICO: | 705 | ||
Index Type: | |||
Fixed Rate: | 100.00% |
* Based on the 2007 ‘Second Mortgages’ loan limits only
** Unless otherwise stated, all percentages are based on Aggregate Principal Balance as of the Cutoff Date
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
43
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Originator | |||||||||||||||||||
Originator | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
American Home Mortgage | 970 | 66,564,215 | 21.51 | 12.386 | 707 | 96.37 | |||||||||||||
GMAC | 1,338 | 64,164,060 | 20.74 | 11.585 | 719 | 95.25 | |||||||||||||
Chapel | 596 | 48,939,624 | 15.82 | 11.164 | 696 | 97.79 | |||||||||||||
Mortgage IT | 266 | 20,363,450 | 6.58 | 10.753 | 707 | 95.96 | |||||||||||||
Other | 1,800 | 109,365,119 | 35.35 | 11.912 | 699 | 97.98 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
Product Type | |||||||||||||||||||
Product Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Fixed - 10 Year | 1 | 51,951 | 0.02 | 9.990 | 695 | 100.00 | |||||||||||||
Fixed - 15 Year | 98 | 3,294,064 | 1.06 | 11.998 | 708 | 93.78 | |||||||||||||
Fixed - 20 Year | 20 | 831,454 | 0.27 | 12.497 | 695 | 97.65 | |||||||||||||
Fixed - 25 Year IO | 27 | 1,499,996 | 0.48 | 11.960 | 728 | 97.98 | |||||||||||||
Fixed - 30 Year | 740 | 41,561,866 | 13.43 | 12.367 | 695 | 98.72 | |||||||||||||
Fixed - 30 Year IO | 53 | 4,199,455 | 1.36 | 12.060 | 719 | 97.28 | |||||||||||||
Balloon - 15/30 | 4,024 | 257,343,006 | 83.18 | 11.640 | 707 | 96.64 | |||||||||||||
Balloon - 15/30 IO | 3 | 204,700 | 0.07 | 14.186 | 670 | 89.46 | |||||||||||||
Balloon - 30/40 | 4 | 409,973 | 0.13 | 11.201 | 658 | 100.00 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
Principal Balance at Origination | |||||||||||||||||||
Principal Balance at Origination ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0.01 - 50,000.00 | 2,436 | 76,176,547 | 24.62 | 12.178 | 710 | 96.62 | |||||||||||||
50,000.01 - 100,000.00 | 1,840 | 131,400,929 | 42.47 | 11.694 | 702 | 97.49 | |||||||||||||
100,000.01 - 150,000.00 | 497 | 60,093,699 | 19.42 | 11.459 | 703 | 98.14 | |||||||||||||
150,000.01 - 200,000.00 | 130 | 22,795,880 | 7.37 | 12.046 | 701 | 95.71 | |||||||||||||
200,000.01 - 250,000.00 | 31 | 7,072,300 | 2.29 | 11.037 | 717 | 96.10 | |||||||||||||
250,000.01 - 300,000.00 | 16 | 4,390,330 | 1.42 | 10.935 | 719 | 95.10 | |||||||||||||
300,000.01 - 350,000.00 | 9 | 3,020,912 | 0.98 | 10.921 | 733 | 85.81 | |||||||||||||
350,000.01 - 400,000.00 | 8 | 3,095,114 | 1.00 | 11.693 | 705 | 83.99 | |||||||||||||
400,000.01 - 450,000.00 | 2 | 852,247 | 0.28 | 10.468 | 745 | 92.54 | |||||||||||||
450,000.01 - 500,000.00 | 1 | 498,510 | 0.16 | 8.650 | 798 | 74.07 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
44
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Remaining Principal Balance | |||||||||||||||||||
Remaining Principal Balance ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0.01 - 50,000.00 | 2,442 | 76,391,725 | 24.69 | 12.177 | 710 | 96.61 | |||||||||||||
50,000.01 - 100,000.00 | 1,837 | 131,431,131 | 42.48 | 11.692 | 702 | 97.49 | |||||||||||||
100,000.01 - 150,000.00 | 495 | 59,907,006 | 19.36 | 11.460 | 703 | 98.14 | |||||||||||||
150,000.01 - 200,000.00 | 129 | 22,737,192 | 7.35 | 12.046 | 701 | 95.72 | |||||||||||||
200,000.01 - 250,000.00 | 31 | 7,072,300 | 2.29 | 11.037 | 717 | 96.10 | |||||||||||||
250,000.01 - 300,000.00 | 16 | 4,390,330 | 1.42 | 10.935 | 719 | 95.10 | |||||||||||||
300,000.01 - 350,000.00 | 9 | 3,020,912 | 0.98 | 10.921 | 733 | 85.81 | |||||||||||||
350,000.01 - 400,000.00 | 8 | 3,095,114 | 1.00 | 11.693 | 705 | 83.99 | |||||||||||||
400,000.01 - 450,000.00 | 2 | 852,247 | 0.28 | 10.468 | 745 | 92.54 | |||||||||||||
450,000.01 - 500,000.00 | 1 | 498,510 | 0.16 | 8.650 | 798 | 74.07 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
Remaining Term | ||||||
Months Remaining | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) |
61 - 120 | 1 | 51,951 | 0.02 | 9.990 | 695 | 100.00 |
121 - 180 | 4,125 | 260,841,770 | 84.31 | 11.646 | 707 | 96.59 |
181 - 240 | 20 | 831,454 | 0.27 | 12.497 | 695 | 97.65 |
241 - 300 | 27 | 1,499,996 | 0.48 | 11.960 | 728 | 97.98 |
301 - 360 | 797 | 46,171,295 | 14.92 | 12.329 | 697 | 98.60 |
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
Interest Only Term | |||||||||||||||||||
IO Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0 | 4,887 | 303,492,315 | 98.09 | 11.745 | 705 | 96.90 | |||||||||||||
60 | 73 | 4,821,143 | 1.56 | 11.988 | 719 | 97.04 | |||||||||||||
120 | 10 | 1,083,009 | 0.35 | 12.646 | 722 | 97.83 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
45
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Mortgage Rate | |||||||||||||||||||
Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
6.500 - 6.999 | 1 | 31,578 | 0.01 | 6.875 | 705 | 89.99 | |||||||||||||
7.000 - 7.499 | 15 | 1,053,087 | 0.34 | 7.269 | 730 | 88.13 | |||||||||||||
7.500 - 7.999 | 25 | 1,638,002 | 0.53 | 7.787 | 740 | 96.10 | |||||||||||||
8.000 - 8.499 | 44 | 2,671,514 | 0.86 | 8.213 | 744 | 96.19 | |||||||||||||
8.500 - 8.999 | 89 | 7,392,921 | 2.39 | 8.713 | 737 | 93.84 | |||||||||||||
9.000 - 9.499 | 153 | 12,781,841 | 4.13 | 9.195 | 726 | 95.79 | |||||||||||||
9.500 - 9.999 | 491 | 29,380,697 | 9.50 | 9.757 | 724 | 95.07 | |||||||||||||
10.000 - 10.499 | 344 | 22,579,291 | 7.30 | 10.159 | 710 | 96.24 | |||||||||||||
10.500 - 10.999 | 520 | 39,214,055 | 12.67 | 10.782 | 700 | 97.55 | |||||||||||||
11.000 - 11.499 | 380 | 26,678,282 | 8.62 | 11.173 | 698 | 97.57 | |||||||||||||
11.500 - 11.999 | 409 | 27,251,488 | 8.81 | 11.714 | 701 | 96.71 | |||||||||||||
12.000 - 12.499 | 456 | 27,295,010 | 8.82 | 12.179 | 703 | 96.96 | |||||||||||||
12.500 - 12.999 | 655 | 39,295,189 | 12.70 | 12.674 | 703 | 97.30 | |||||||||||||
13.000 - 13.499 | 406 | 21,657,699 | 7.00 | 13.139 | 706 | 97.54 | |||||||||||||
13.500 - 13.999 | 294 | 14,520,258 | 4.69 | 13.673 | 698 | 97.29 | |||||||||||||
14.000 - 14.499 | 220 | 10,533,661 | 3.40 | 14.184 | 691 | 98.37 | |||||||||||||
14.500 - 14.999 | 197 | 11,714,540 | 3.79 | 14.651 | 690 | 98.04 | |||||||||||||
15.000 - 15.499 | 94 | 4,876,135 | 1.58 | 15.159 | 684 | 97.18 | |||||||||||||
15.500 - 15.999 | 65 | 3,301,623 | 1.07 | 15.703 | 679 | 97.69 | |||||||||||||
16.000 - 16.499 | 30 | 1,719,724 | 0.56 | 16.191 | 689 | 97.97 | |||||||||||||
16.500 - 16.999 | 18 | 993,635 | 0.32 | 16.595 | 705 | 99.56 | |||||||||||||
17.000 - 17.499 | 20 | 719,664 | 0.23 | 17.119 | 699 | 98.97 | |||||||||||||
17.500 - 17.999 | 25 | 995,634 | 0.32 | 17.732 | 668 | 100.00 | |||||||||||||
18.000 - 18.499 | 8 | 463,467 | 0.15 | 18.266 | 687 | 99.16 | |||||||||||||
18.500 - 18.999 | 7 | 443,998 | 0.14 | 18.645 | 661 | 98.99 | |||||||||||||
19.000 - 19.499 | 1 | 51,396 | 0.02 | 19.000 | 688 | 100.00 | |||||||||||||
19.500 - 19.999 | 1 | 56,686 | 0.02 | 19.625 | 716 | 100.00 | |||||||||||||
20.000 - 20.499 | 1 | 23,997 | 0.01 | 20.000 | 672 | 95.00 | |||||||||||||
20.500 - 20.999 | 1 | 61,393 | 0.02 | 20.625 | 684 | 100.00 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
46
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Original Combined Loan-to-Value Ratio | |||||||||||||||||||
Original Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Less than or equal to 50.00 | 3 | 306,339 | 0.10 | 10.289 | 710 | 45.75 | |||||||||||||
55.01 - 60.00 | 2 | 194,082 | 0.06 | 9.420 | 745 | 59.73 | |||||||||||||
60.01 - 65.00 | 3 | 170,280 | 0.06 | 10.109 | 693 | 63.02 | |||||||||||||
65.01 - 70.00 | 8 | 830,774 | 0.27 | 10.194 | 693 | 67.97 | |||||||||||||
70.01 - 75.00 | 18 | 3,080,536 | 1.00 | 10.447 | 703 | 73.62 | |||||||||||||
75.01 - 80.00 | 68 | 5,532,231 | 1.79 | 10.068 | 711 | 79.54 | |||||||||||||
80.01 - 85.00 | 57 | 3,923,039 | 1.27 | 10.943 | 699 | 83.81 | |||||||||||||
85.01 - 90.00 | 631 | 32,183,586 | 10.40 | 11.371 | 707 | 89.66 | |||||||||||||
90.01 - 95.00 | 1,090 | 55,602,659 | 17.97 | 12.150 | 713 | 94.82 | |||||||||||||
95.01 - 100.00 | 3,090 | 207,572,939 | 67.09 | 11.795 | 703 | 99.89 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
FICO Score at Origination | |||||||||||||||||||
FICO Score at Origination | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
575 - 599 | 12 | 741,310 | 0.24 | 11.505 | 588 | 99.90 | |||||||||||||
600 - 624 | 81 | 5,395,500 | 1.74 | 12.749 | 617 | 98.44 | |||||||||||||
625 - 649 | 377 | 24,921,570 | 8.05 | 13.083 | 637 | 98.12 | |||||||||||||
650 - 674 | 692 | 46,688,067 | 15.09 | 12.145 | 664 | 96.82 | |||||||||||||
675 - 699 | 1,134 | 72,280,727 | 23.36 | 11.776 | 687 | 96.24 | |||||||||||||
700 - 724 | 960 | 58,021,498 | 18.75 | 11.386 | 711 | 97.02 | |||||||||||||
725 - 749 | 796 | 46,147,990 | 14.92 | 11.401 | 736 | 97.19 | |||||||||||||
750 - 774 | 550 | 33,041,945 | 10.68 | 11.400 | 761 | 96.86 | |||||||||||||
775 - 799 | 303 | 18,172,288 | 5.87 | 11.247 | 786 | 96.63 | |||||||||||||
800 - 824 | 65 | 3,985,572 | 1.29 | 11.681 | 805 | 96.25 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
47
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Geographic Distribution* | |||||||||||||||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
California | 1,038 | 95,966,837 | 31.02 | 11.065 | 702 | 96.84 | |||||||||||||
Florida | 549 | 33,398,237 | 10.79 | 12.503 | 703 | 96.16 | |||||||||||||
Nevada | 303 | 20,389,721 | 6.59 | 11.869 | 705 | 97.86 | |||||||||||||
Arizona | 323 | 19,975,918 | 6.46 | 11.861 | 704 | 97.15 | |||||||||||||
Texas | 462 | 16,318,817 | 5.27 | 11.373 | 716 | 97.35 | |||||||||||||
Virginia | 160 | 11,515,270 | 3.72 | 11.863 | 705 | 96.94 | |||||||||||||
Illinois | 188 | 10,300,832 | 3.33 | 11.942 | 704 | 97.94 | |||||||||||||
Maryland | 142 | 10,186,453 | 3.29 | 11.737 | 696 | 98.40 | |||||||||||||
New York | 122 | 9,381,419 | 3.03 | 12.005 | 703 | 96.25 | |||||||||||||
Washington | 124 | 7,969,937 | 2.58 | 11.806 | 709 | 96.62 | |||||||||||||
Minnesota | 146 | 7,392,747 | 2.39 | 12.439 | 711 | 98.10 | |||||||||||||
Colorado | 123 | 6,269,209 | 2.03 | 12.573 | 710 | 97.95 | |||||||||||||
Utah | 104 | 5,460,334 | 1.76 | 11.862 | 718 | 96.48 | |||||||||||||
North Carolina | 134 | 5,260,462 | 1.70 | 12.015 | 705 | 95.75 | |||||||||||||
New Jersey | 66 | 4,782,801 | 1.55 | 11.948 | 700 | 96.17 | |||||||||||||
Oregon | 81 | 4,774,569 | 1.54 | 12.108 | 706 | 97.50 | |||||||||||||
Georgia | 127 | 4,745,058 | 1.53 | 12.856 | 706 | 97.59 | |||||||||||||
Massachusetts | 58 | 4,043,431 | 1.31 | 11.985 | 729 | 96.05 | |||||||||||||
Connecticut | 48 | 3,439,616 | 1.11 | 12.406 | 708 | 95.84 | |||||||||||||
Michigan | 83 | 2,973,429 | 0.96 | 12.438 | 693 | 97.47 | |||||||||||||
Idaho | 39 | 2,199,972 | 0.71 | 11.384 | 725 | 93.75 | |||||||||||||
Ohio | 61 | 2,177,584 | 0.70 | 12.271 | 700 | 98.60 | |||||||||||||
South Carolina | 48 | 2,148,290 | 0.69 | 12.192 | 716 | 97.00 | |||||||||||||
District of Columbia | 21 | 1,886,093 | 0.61 | 11.105 | 709 | 89.62 | |||||||||||||
Pennsylvania | 52 | 1,672,916 | 0.54 | 12.375 | 707 | 95.40 | |||||||||||||
Missouri | 52 | 1,646,035 | 0.53 | 12.096 | 712 | 94.98 | |||||||||||||
Hawaii | 10 | 1,503,944 | 0.49 | 10.354 | 726 | 93.60 | |||||||||||||
New Mexico | 33 | 1,358,567 | 0.44 | 12.750 | 711 | 96.63 | |||||||||||||
New Hampshire | 17 | 1,110,054 | 0.36 | 12.454 | 712 | 98.94 | |||||||||||||
Wisconsin | 28 | 1,067,668 | 0.35 | 12.888 | 707 | 97.54 | |||||||||||||
Louisiana | 26 | 875,474 | 0.28 | 13.525 | 692 | 97.37 | |||||||||||||
Indiana | 29 | 789,388 | 0.26 | 12.557 | 708 | 96.73 | |||||||||||||
Tennessee | 25 | 750,015 | 0.24 | 12.489 | 713 | 96.85 | |||||||||||||
West Virginia | 10 | 643,312 | 0.21 | 14.206 | 664 | 99.11 | |||||||||||||
Kentucky | 13 | 630,959 | 0.20 | 12.113 | 690 | 97.88 | |||||||||||||
Rhode Island | 10 | 570,766 | 0.18 | 12.535 | 690 | 96.94 | |||||||||||||
Arkansas | 13 | 567,914 | 0.18 | 11.873 | 728 | 97.16 |
*Geographic Distribution continued on the next page
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
48
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Geographic Distribution (continued) | |||||||||||||||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Oklahoma | 21 | 473,647 | 0.15 | 12.586 | 713 | 97.04 | |||||||||||||
Alaska | 7 | 433,810 | 0.14 | 13.482 | 751 | 98.22 | |||||||||||||
Maine | 11 | 408,795 | 0.13 | 12.504 | 718 | 97.10 | |||||||||||||
Delaware | 9 | 316,143 | 0.10 | 13.012 | 694 | 97.62 | |||||||||||||
Iowa | 10 | 296,269 | 0.10 | 11.487 | 726 | 94.77 | |||||||||||||
Alabama | 11 | 275,307 | 0.09 | 12.292 | 689 | 92.70 | |||||||||||||
Kansas | 11 | 242,804 | 0.08 | 11.838 | 726 | 97.34 | |||||||||||||
Montana | 4 | 230,099 | 0.07 | 12.518 | 693 | 100.00 | |||||||||||||
Vermont | 3 | 175,073 | 0.06 | 13.561 | 713 | 99.29 | |||||||||||||
Wyoming | 5 | 111,106 | 0.04 | 13.773 | 709 | 92.18 | |||||||||||||
Nebraska | 3 | 101,081 | 0.03 | 12.712 | 730 | 95.00 | |||||||||||||
North Dakota | 3 | 93,567 | 0.03 | 11.673 | 746 | 97.24 | |||||||||||||
South Dakota | 2 | 67,928 | 0.02 | 16.276 | 683 | 100.00 | |||||||||||||
Mississippi | 2 | 26,795 | 0.01 | 14.202 | 724 | 87.00 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
49
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Occupancy Status | |||||||||||||||||||
Occupancy Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Primary | 2,825 | 217,699,704 | 70.36 | 11.251 | 699 | 97.28 | |||||||||||||
Investment | 1,852 | 74,436,027 | 24.06 | 13.083 | 722 | 96.07 | |||||||||||||
Second Home | 293 | 17,260,737 | 5.58 | 12.322 | 718 | 95.69 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
Documentation Type | |||||||||||||||||||
Documentation Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Stated Documentation | 1,683 | 114,315,605 | 36.95 | 11.535 | 699 | 96.87 | |||||||||||||
No Ratio | 1,296 | 84,009,411 | 27.15 | 11.750 | 712 | 97.31 | |||||||||||||
Full Documentation | 677 | 33,032,401 | 10.68 | 11.039 | 709 | 98.19 | |||||||||||||
No Documentation | 546 | 29,892,096 | 9.66 | 12.114 | 723 | 93.76 | |||||||||||||
Stated Income/Full Asset | 315 | 21,130,628 | 6.83 | 13.124 | 685 | 96.47 | |||||||||||||
No Income Verifier | 307 | 18,027,732 | 5.83 | 12.200 | 707 | 98.37 | |||||||||||||
Full Income/Full Asset | 64 | 3,532,032 | 1.14 | 11.428 | 689 | 97.04 | |||||||||||||
Limited Documentation | 42 | 2,710,117 | 0.88 | 11.115 | 660 | 99.53 | |||||||||||||
Stated Income/Stated Asset | 34 | 2,325,256 | 0.75 | 12.943 | 711 | 95.44 | |||||||||||||
No Income/No Asset | 4 | 294,619 | 0.10 | 12.854 | 720 | 93.82 | |||||||||||||
Full Income/Stated Asset | 2 | 126,570 | 0.04 | 13.567 | 663 | 100.00 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
Loan Purpose | |||||||||||||||||||
Loan Purpose | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Purchase | 4,371 | 258,725,834 | 83.62 | 11.832 | 708 | 97.93 | |||||||||||||
Refinance - Cashout | 458 | 40,523,321 | 13.10 | 11.360 | 693 | 91.52 | |||||||||||||
Refinance - Rate Term | 141 | 10,147,312 | 3.28 | 11.274 | 695 | 92.20 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
50
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
DESCRIPTION OF THE GROUP II COLLATERAL |
Property Type | |||||||||||||||||||
Property Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
Single Family Residence | 2,700 | 170,237,287 | 55.02 | 11.537 | 703 | 97.08 | |||||||||||||
PUD | 1,277 | 81,343,721 | 26.29 | 11.706 | 705 | 96.71 | |||||||||||||
Condo | 473 | 28,542,353 | 9.23 | 12.124 | 710 | 96.58 | |||||||||||||
2-4 Family | 493 | 28,356,456 | 9.17 | 12.800 | 714 | 96.64 | |||||||||||||
Townhouse | 27 | 916,651 | 0.30 | 11.631 | 711 | 98.31 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
Original Prepayment Penalty Term | |||||||||||||||||||
Prepayment Penalty Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Original CLTV (%) | |||||||||||||
0 | 3,966 | 239,211,768 | 77.32 | 11.826 | 709 | 96.62 | |||||||||||||
6 | 28 | 1,914,362 | 0.62 | 12.926 | 719 | 96.84 | |||||||||||||
12 | 107 | 7,846,844 | 2.54 | 11.676 | 693 | 96.38 | |||||||||||||
24 | 421 | 31,148,553 | 10.07 | 11.119 | 687 | 98.96 | |||||||||||||
36 | 445 | 29,145,260 | 9.42 | 11.762 | 699 | 97.17 | |||||||||||||
60 | 3 | 129,680 | 0.04 | 10.442 | 744 | 96.74 | |||||||||||||
Total: | 4,970 | 309,396,467 | 100.00 | 11.752 | 705 | 96.90 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
51
ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL1 | ![]() |
FOR ADDITIONAL INFORMATION PLEASE CALL:
Deutsche Bank Securities | |
Whole Loan Trading | |
Michael Commaroto | 212-250-3114 |
Paul Mangione | 212-250-5786 |
Antonio Rhee | 212-250-8569 |
ABS Banking | |
Sue Valenti | 212-250-3455 |
Roxana McKinney | 212-250-0848 |
ABS Structuring | |
Bill Yeung | 212-250-6893 |
Chris Sudol | 212-250-0507 |
ABS Collateral | |
Reta Chandra | 212-250-2729 |
Kevin Fisher | 212-250-7325 |
Standard & Poor’s Rating Service | |
Mark Goldenberg | 212-438-1641 |
Peter G. Graham | 212-438-1599 |
Moody’s Investors Service, Inc. | |
Karen Ramallo | 212-553-0370 |
Rachel Peng | 212-553-3831 |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.
52