- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 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. ------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------ $587,724,000 (Approximate) ------------------------------------------------------------------------------------------------------ Home Equity Loan Trust Series 2007-HE3 ------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------ ACE Securities Corp. (Depositor) ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE3 (Issuing Entity) ------------------------------------------------------------------------------------------------------ Deutsche Bank [LOGO] March 15, 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 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 1
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ 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 ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. DBSI IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ FREE WRITING PROSPECTUS DATED March 15, 2007 ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE3 $587,724,000 (Approximate) All dollar amounts and percentages contained herein are subject to a permitted variance of +/- 10% - ------------------------------------------------------------------------------------------------------------------------------------ Structure Overview - ------------------------------------------------------------------------------------------------------------------------------------ To 10% Optional Termination - ------------------------------------------------------------------------------------------------------------------------------------ Principal Payment Pmt. Interest Legal Expected Class Approximate WAL Window Delay Accrual Final Ratings Size ($) Type (yrs) (months) (days) Basis Maturity S / M - ------------------------------------------------------------------------------------------------------------------------------------ Offered Certificates: A-1 222,412,000 Float 2.18 1 - 82 0 ACT/360 January 2037 AAA/Aaa A-2A 132,077,000 Float 0.95 1 - 22 0 ACT/360 January 2037 AAA/Aaa A-2B 50,178,000 Float 1.95 22 - 29 0 ACT/360 January 2037 AAA/Aaa A-2C 36,277,000 Float 2.98 29 - 57 0 ACT/360 January 2037 AAA/Aaa A-2D 36,312,000 Float 6.19 57 - 82 0 ACT/360 January 2037 AAA/Aaa M-1 24,001,000 Float 4.90 46 - 82 0 ACT/360 January 2037 AA+ / Aa1 M-2 24,617,000 Float 4.75 43 - 82 0 ACT/360 January 2037 AA / Aa2 M-3 10,770,000 Float 4.67 42 - 82 0 ACT/360 January 2037 AA- / Aa3 M-4 9,539,000 Float 4.64 41 - 82 0 ACT/360 January 2037 A+ / A1 M-5 10,770,000 Float 4.61 40 - 82 0 ACT/360 January 2037 A / A2 M-6 6,770,000 Float 4.60 40 - 82 0 ACT/360 January 2037 A- / A3 M-7 8,924,000 Float 4.57 39 - 82 0 ACT/360 January 2037 BBB+ / Baa1 M-8 5,846,000 Float 4.57 39 - 82 0 ACT/360 January 2037 BBB / Baa2 M-9 9,231,000 Float 4.54 38 - 82 0 ACT/360 January 2037 BBB- / Baa3 ----------------- Total Offered: $587,724,000 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Pricing Speed - ------------------------------------------------------------------------------------------------------------------------------------ Fixed-Rate Mortgage Loans 100% PPC (4% CPR growing to 23% CPR over 12 months. 23% CPR thereafter) Adjustable-Rate 100% PPC (5% CPR in month 1, an additional 2% CPR for each month thereafter, building to 27% CPR Mortgage Loans in month 12 and remaining constant at 27% CPR until month 23, increasing to and remaining constant at 60% CPR from month 24 until month 27 and decreasing and remaining constant at 30% CPR from month 28 and thereafter; provided, however, the prepayment rate will not exceed 85% CPR per annum in any period for any percentage of PPC) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview - ------------------------------------------------------------------------------------------------------------------------------------ Certificates: The Class A-1 Certificates and the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the "Class A-2 Certificates"; and together with the Class A-1 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 and Class M-9 Certificates (collectively, the "Mezzanine Certificates" or the "Class M Certificates"). The Class A-1 Certificates are backed by conforming principal balance fixed-rate and adjustable-rate first and second lien mortgage loans (the "Group I Mortgage Loans") and the Class A-2 Certificates are backed by fixed-rate and adjustable-rate first and second lien mortgage loans with conforming and non-conforming principal balances (the "Group II Mortgage Loans"). - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview - ------------------------------------------------------------------------------------------------------------------------------------ Certificates The Mezzanine Certificates are backed by the Group I Mortgage Loans and Group II Mortgage Loans (Continued): (collectively, the "Mortgage Loans"). The Senior Certificates along with 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 and Class M-9 Certificates are also referred to herein collectively as the "Offered Certificates." The trust will also issue the Class CE Certificates, the Class P Certificates and the Class R Certificates which are referred to herein collectively as the "Non-offered Certificates". The pass-through rate on the Class A-1 Certificates will be the lesser of (i) One-Month LIBOR plus a margin and (ii) the applicable Net WAC Pass-Through Rate. The pass-through rates on the Class A-2 Certificates will be the lesser of (i) One-Month LIBOR plus their respective margins and (ii) the applicable Net WAC Pass-Through Rate. The pass-through rates on the Mezzanine Certificates will be the lesser of (i) One-Month LIBOR plus their respective margins and (ii) the applicable Net WAC Pass-Through Rate. Collateral: As of the Cut-off Date, the Mortgage Loans will consist of approximately 3,386 adjustable-rate and fixed-rate, first and second lien, closed-end mortgage loans. The aggregate outstanding principal balance of all of the Mortgage Loans is approximately $615,416,605 as of the Cut-off Date. The Mortgage Loans will be separated into two groups. The Group I Mortgage Loans will represent approximately 1,814 conforming principal balance fixed-rate and adjustable-rate Mortgage Loans totaling approximately $286,797,652 and the Group II Mortgage Loans will represent approximately 1,572 conforming and non-conforming principal balance fixed and adjustable-rate Mortgage Loans totaling approximately $328,618,953. Class A Certificates: Class A-1, Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates Class M Certificates: Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates Depositor: ACE Securities Corp. ("ACE") Issuing Entity: ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE3. The Issuing Entity is also referred to herein as the trust Originators: % of Aggregate Aggregate Remaining Remaining Principal Originator Principal Balance ($) Balance ---------------------------------------------------------------------------------------------------- Residential Mortgage Assistance Enterprise, LLC $615,416,605 100.00 ("ResMAE") Master Servicer and the Wells Fargo Bank, National Association Securities Administrator: Servicer: Wells Fargo Bank, N.A. Trustee: HSBC Bank USA, National Association Custodian: Wells Fargo Bank, National Association Credit Risk Manager: Clayton Fixed Income Services Inc. Underwriter: Deutsche Bank Securities Inc. Swap Provider: TBD Cap Provider: TBD Cut-off Date: February 1, 2007 Expected Pricing: Week of March 5, 2007 Expected Closing Date: On or about March [20], 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. - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Distribution Date: 25th day of each month (or the next business day if such day is not a business day) commencing in March 2007. Determination Date: The Determination Date with respect to any Distribution Date is the business day immediately preceding the related Servicer Remittance Date. Servicer Remittance Date: With respect to any Distribution Date, on or before the close of business on the 22nd day of the month in which such Distribution Date occurs. 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: The Prepayment Period with respect to any Distribution Date shall be the calendar month preceding the month in which such Distribution Date occurs with respect to prepayments in part, and the period beginning on the sixteenth (16th) day of the month preceding such Distribution Date (or, the period commencing on the Cut-off Date, in connection with the first Prepayment Period) and ending on the fifteenth (15th) day of the month in which such Distribution Date occurs with respect to prepayments in full. 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 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 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 Servicer and shortfalls resulting from the application of the Servicemembers' Civil Relief Act or similar state or local laws. Senior Interest Distribution For the Class A Certificates on any Distribution Date is an amount equal to the sum of the Interest Amount: 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, Servicer and Credit Risk Manager will be paid monthly fees on the outstanding principal balance of the Mortgage Loans. These fees initially aggregate to a weighted average cost of approximately [0.5185]% for the Mortgage Loans. Compensating Interest: The Servicer will be required to cover Prepayment Interest Shortfalls on prepayments in full on the Mortgage Loans up to the Servicing Fee. If the Servicer fails to make any required Compensating Interest payment, the Master Servicer will be required to do so up to the Master Servicing Fee. Prepayment Interest Interest shortfalls attributable to voluntary principal prepayments on the Mortgage Loans. Shortfalls: - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Optional Termination: On any Distribution Date on which the aggregate outstanding principal balance of the Mortgage Loans as of the last day of the related Due Period 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 repurchase 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. Monthly Servicer Advances: The Servicer will collect monthly payments of principal and interest on the Mortgage Loans and will be obligated to make advances of delinquent monthly principal and interest payments. The Servicer is required to advance delinquent payments of principal and interest on the Mortgage Loans only to the extent such amounts are deemed recoverable. If the Servicer fails to make any such advance, a successor servicer (which may be the Trustee) will be required to do so subject to its determination of recoverability. The Servicer and the successor 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. 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 received from the Swap Provider, if any, second, to the Class CE Certificates, third, to the Class M-9 Certificates, fourth, to the Class M-8 Certificates, fifth, to the Class M-7 Certificates, sixth, to the Class M-6 Certificates, seventh, to the Class M-5 Certificates, eighth, to the Class M-4 Certificates, ninth, to the Class M-3 Certificates, tenth, to the Class M-2 Certificates and eleventh, 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. 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 on such Distribution Date and any Net Swap Payments paid by the Swap Provider and available for this purpose. - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Required Overcollateralization refers to the amount by which the aggregate principal balance of the Overcollateralization Amount: Mortgage Loans exceeds the aggregate certificate principal balance of the 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 4.50% 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 9.00% 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 as of the Cut-off Date. If, due to losses, the Overcollateralization Amount is reduced below the Required Overcollateralization Amount, excess spread, if any is 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 An Overcollateralization Increase Amount for any Distribution Date is the lesser of (i) the Net Increase Amount: 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 An Overcollateralization Reduction Amount for any Distribution Date is the amount by which the Reduction Amount: 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 after which the aggregate certificate principal balance of the Class A Certificates has been 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 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 44.90%. 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. Class (S / M) Initial CE % Targeted CE % On/After Step ----- ------- ------------ --------------------------- Down Date --------- A AAA/Aaa 22.45% 44.90% M-1 AA+ / Aa1 18.55% 37.10% M-2 AA / Aa2 14.55% 29.10% M-3 AA- / Aa3 12.80% 25.60% M-4 A+ / A1 11.25% 22.50% M-5 A / A2 9.50% 19.00% M-6 A- / A3 8.40% 16.80% M-7 BBB+ / Baa1 6.95% 13.90% M-8 BBB / Baa2 6.00% 12.00% M-9 BBB- / Baa3 4.50% 9.00% - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ 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, net of any Net Swap Payment and the Swap Termination Payment, if any, required to be made by the Securities Administrator, on behalf of the supplemental interest trust (described below), to the Swap Provider under the Swap Agreement, 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 and (y) the amount of principal remittance required to be distributed to the holders of the Certificates on such Distribution Date. 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 Servicer, 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 balance 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. 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 certificates is limited by the related 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 of, if any, (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 related 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 accrued interest 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 certificates do not address the likelihood of the payment of any Net WAC Rate Carryover Amount from Net Monthly Excess Cashflow. - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Group I Cap Agreement: On the Closing Date, the Trustee will enter into a "Group I Cap Agreement", which will be effective for the period commencing on the Distribution Date occurring in March 2007 and ending immediately following the Distribution Date occurring in August 2007, to make payments in respect of any Net WAC Rate Carryover Amounts in respect of the Class A-1 Certificates and the Mezzanine Certificates as described herein. The Group I Cap Agreement requires a cap payment in an amount equal to the product of: (1) the excess, if any, of one-month LIBOR over a specified strike rate for the related Distribution Date; (2) the related scheduled notional amount, which is based on the lesser of (i) the expected amortization of the Group I Mortgage Loans and (ii) Group I Cap Schedule and (3) a fraction, the numerator of which is the actual number of days elapsed from the previous Distribution Date to but excluding the current Distribution Date (or, for the first Distribution Date, the actual number of days elapsed from the Closing Date to but excluding the first Distribution Date), and the denominator of which is 360. Group II Cap Agreement: On the Closing Date, the Trustee will enter into a "Group II Cap Agreement", which will be effective for the period commencing on the Distribution Date occurring in March 2007 and ending immediately following the Distribution Date occurring in August 2007, to make payments in respect of any Net WAC Rate Carryover Amounts in respect of the Class A-2A, Class A-2B, Class A-2C, Class A-2D Certificates and the Mezzanine Certificates as described herein. The Group II Cap Agreement requires a cap payment in an amount equal to the product of: (1) the excess, if any, of one-month LIBOR over a specified strike rate for the related Distribution Date; (2) the related scheduled notional amount, which is based on the lesser of (i) the expected amortization of the Group II Mortgage Loans and (ii) Group II Cap Schedule and (3) a fraction, the numerator of which is the actual number of days elapsed from the previous Distribution Date to but excluding the current Distribution Date (or, for the first Distribution Date, the actual number of days elapsed from the Closing Date to but excluding the first Distribution Date), and the denominator of which is 360. - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Swap Agreement: On the Closing Date, the Trustee will enter into a Swap Agreement with the Swap Provider as described in the final prospectus supplement. The Swap Agreement will have an initial notional amount of $517,571,951. Under the Swap Agreement, commencing on the Distribution Date occurring in September 2007, the trust (through a supplemental interest trust) will be obligated to pay an amount equal to [4.80]% per annum on the notional amount as set forth in the Swap Agreement to the Swap Provider 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 one-month LIBOR on the notional amount as set forth in the Swap Agreement until the Swap Agreement is terminated. 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 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, that payment will be paid on the related Distribution Date, and on any subsequent Distribution Dates until paid in full, and, if such Swap Termination Payment is not due as a result of the occurrence of a Swap Provider Trigger Event (as defined in the Swap Agreement), such payment will be prior to distributions to Certificateholders. Available Distribution Amount: For any Distribution Date, net of the administrative 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; and (iv) all Compensating Interest paid by the Servicer or the Master Servicer in respect of Prepayment Interest Shortfalls for the related Prepayment Period. - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Class A Principal Until the Stepdown Date, the Class A Principal Distribution Amount will be distributed to the Distribution Amount: 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 44.90% Credit Enhancement Percentage (2x the Class A Initial 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. Principal distributions to the Class A-2 Certificates will be allocated sequentially to the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, in that order, until the certificate principal balance of each such class has been reduced to zero; provided, however, on any Distribution Date on which the aggregate certificate principal balance of the Mezzanine Certificates has been reduced to zero and the Overcollateralization Amount is zero, all principal distributions will be distributed to the Class A-2 Certificates concurrently, on a pro rata basis, based on the certificate principal balance of each such class, until the certificate principal balance of each such class has been reduced to zero. Class M Principal Until the Stepdown Date, unless the aggregate certificate principal balance of the Class A Distribution Amount: Certificates is reduced to zero, the Mezzanine Certificates will not receive any principal payments. On or after the Stepdown Date (if no Trigger Event occurs), principal will be paid to the Mezzanine Certificates, first to the Class M-1 Certificates until it reaches approximately a 37.10% Credit Enhancement Percentage (2x the Class M-1 Initial Credit Enhancement Percentage), second to the Class M-2 Certificates until it reaches approximately a 29.10% Credit Enhancement Percentage (2x the Class M-2 Initial Credit Enhancement Percentage), third to the Class M-3 Certificates until it reaches approximately a 25.60% Credit Enhancement Percentage (2x the Class M-3 Initial Credit Enhancement Percentage), fourth to the Class M-4 Certificates until it reaches approximately a 22.50% Credit Enhancement Percentage (2x the Class M-4 Initial Credit Enhancement Percentage), fifth to the Class M-5 Certificates until it reaches approximately a 19.00% Credit Enhancement Percentage (2x the Class M-5 Initial Credit Enhancement Percentage), sixth to the Class M-6 Certificates until it reaches approximately a 16.80% Credit Enhancement Percentage (2x the Class M-6 Initial Credit Enhancement Percentage), seventh to the Class M-7 Certificates until it reaches approximately a 13.90% Credit Enhancement Percentage (2x the Class M-7 Initial Credit Enhancement Percentage), eighth to the Class M-8 Certificates until it reaches approximately a 12.00% Credit Enhancement Percentage (2x the Class M-8 Initial Credit Enhancement Percentage), ninth to the Class M-9 Certificates until it reaches approximately a 9.00% Credit Enhancement Percentage (2x the Class M-9 Initial Credit Enhancement Percentage), - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Class M Principal If a Trigger Event occurs, principal payments will be paid first to the Class A Certificates in the Distribution Amount manner and order of priority described under "Class A Principal Distribution Amount", in each case (continued): until the certificate principal balance of each such class has been reduced to zero and, then sequentially to the Mezzanine Certificates in their order of seniority, in each case until the certificate principal balance of each such class has been reduced to zero. Coupon Step-up: On the Distribution Date following the first possible optional termination date, the margins on the Class A Certificates and the Mezzanine Certificates will increase to the following, provided that the Pass-Through Rates on the Certificates will still be subject to the applicable Net WAC Pass-Through Rate. Class After Optional Termination ----- -------------------------- A 2 x Margin M The lesser of 1.5 x Margin and Margin plus 0.50% 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 35.50% of the Credit Enhancement Percentage of the Class A Certificates.: 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 1.60%, plus 1/12th of 1.90% for each month thereafter March 2010 to February 2011 3.50%, plus 1/12th of 1.90% for each month thereafter March 2011 to February 2012 5.40%, plus 1/12th of 1.55% for each month thereafter March 2012 to February 2013 6.95%, plus 1/12th of 0.85% for each month thereafter March 2013 and thereafter 7.80% - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Payment Priority: On each Distribution Date, the Available Distribution Amount will be distributed as follows: 1. Commencing on the Distribution Date occurring in September 2007, 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 interest to the Class A Certificates, pro rata, including any accrued unpaid interest from a prior Distribution Date, and then 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. 4. To pay principal to the Mezzanine Certificates in accordance with the principal payment provisions described above. 5. From excess interest, 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, if any, to pay the Interest Carry Forward Amounts on the Mezzanine Certificates, on a sequential basis. 7. From excess interest, if any, to pay the allocated Realized Losses on the Mezzanine Certificates, on a sequential basis. 8. From excess interest, 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, if any, commencing on the Distribution Date occurring in September 2007, to pay the Swap Termination Payment (caused by a Swap Provider Trigger Event under the Swap Agreement) owed to the Swap Provider. 10. To pay any remaining amount to the Non-offered Certificates in accordance with the pooling and servicing agreement. Commencing on the Distribution Date occurring in September 2007, any Net Swap Payments on deposit in the Supplemental Interest Trust will be paid after the Available Distribution Amount as follows: 1. 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 and 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 Class A Certificates and the Mezzanine 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 Class A Certificates and the Mezzanine 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 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ 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. Legal Investment: The Offered Certificates will not constitute "mortgage related securities" for purposes of the Secondary Mortgage Market Enhancement Act of 1984. 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Group I Cap Schedule ----------------------------------------------------------------------------------------------- Distribution Date Notional Schedule ($) Strike Rate (%) ----------------------------------------------------------------------------------------------- 1 3/25/2007 286,797,652 7.50 2 4/25/2007 283,998,589 7.50 3 5/25/2007 280,710,573 7.50 4 6/25/2007 276,939,842 7.50 5 7/25/2007 272,695,182 7.50 6 8/25/2007 267,987,943 7.50 Group II Cap Schedule ----------------------------------------------------------------------------------------------- Distribution Date Notional Schedule ($) Strike Rate (%) ----------------------------------------------------------------------------------------------- 1 3/25/2007 328,618,953 7.50 2 4/25/2007 325,451,851 7.50 3 5/25/2007 321,723,644 7.50 4 6/25/2007 317,441,262 7.50 5 7/25/2007 312,614,560 7.50 6 8/25/2007 307,256,333 7.50 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Swap Schedule - ------------------------------------------------------------------------------------------------------------------------------- Distribution Date Notional Schedule ($) Distribution Date Notional Schedule ($) - ------------------------------------------------------------------------------------------------------------------------------- 1 3/25/2007 32 10/25/2009 102,507,098 2 4/25/2007 - 33 11/25/2009 97,159,826 3 5/25/2007 - 34 12/25/2009 92,051,699 4 6/25/2007 - 35 1/25/2010 87,174,235 5 7/25/2007 - 36 2/25/2010 82,514,150 6 8/25/2007 - 37 3/25/2010 78,061,572 7 9/25/2007 517,571,951 38 4/25/2010 73,807,086 8 10/25/2007 499,417,622 39 5/25/2010 69,741,711 9 11/25/2007 480,003,781 40 6/25/2010 65,856,895 10 12/25/2007 459,474,828 41 7/25/2010 62,144,911 11 1/25/2008 439,792,646 42 8/25/2010 58,597,458 12 2/25/2008 420,922,177 43 9/25/2010 55,207,098 13 3/25/2008 402,829,817 44 10/25/2010 51,966,740 14 4/25/2008 385,483,362 45 11/25/2010 48,869,615 15 5/25/2008 368,851,941 46 12/25/2010 45,909,273 16 6/25/2008 352,905,968 47 1/25/2011 43,079,584 17 7/25/2008 337,617,085 48 2/25/2011 40,374,626 18 8/25/2008 322,958,110 49 3/25/2011 37,788,791 19 9/25/2008 308,902,991 50 4/25/2011 35,316,725 20 10/25/2008 295,426,757 51 5/25/2011 32,953,320 21 11/25/2008 281,943,159 52 6/25/2011 30,693,706 22 12/25/2008 238,653,713 53 7/25/2011 28,533,236 23 1/25/2009 202,609,890 54 8/25/2011 26,467,460 24 2/25/2009 172,545,735 55 9/25/2011 24,492,143 25 3/25/2009 147,675,600 56 10/25/2011 22,603,238 26 4/25/2009 140,297,166 57 11/25/2011 20,796,887 27 5/25/2009 133,250,614 58 12/25/2011 19,069,275 28 6/25/2009 126,521,454 59 1/25/2012 17,415,291 29 7/25/2009 120,098,996 60 2/25/2012 15,833,464 30 8/25/2009 113,964,443 61 3/25/2012 - 31 9/25/2009 108,104,653 - ------------------------------------------------------------------------------------------------------------------------------- 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Sensitivity Table To 10% Call ------------------------------------------------------------------------------------------------------- Fixed}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC Arm}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC |------------| A-1 Avg Life (years) 22.63 4.23 | 2.18| 1.48 1.14 First Payment Date Mar-07 Mar-07 | Mar-07| Mar-07 Mar-07 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Jul-09 | | A-2A Avg Life (years) 15.62 1.50 | 0.95| 0.78 0.62 First Payment Date Mar-07 Mar-07 | Mar-07| Mar-07 Mar-07 Last Payment Date Dec-30 Feb-10 | Dec-08| Sep-08 May-08 | | A-2B Avg Life (years) 26.03 3.85 | 1.95| 1.71 1.42 First Payment Date Dec-30 Feb-10 | Dec-08| Sep-08 May-08 Last Payment Date Oct-35 Jun-12 | Jul-09| Jan-09 Nov-08 | | A-2C Avg Life (years) 29.52 6.99 | 2.98| 2.02 1.75 First Payment Date Oct-35 Jun-12 | Jul-09| Jan-09 Nov-08 Last Payment Date Nov-36 May-16 | Nov-11| Jul-09 Jan-09 | | A-2D Avg Life (years) 29.68 12.00 | 6.19| 3.23 2.03 First Payment Date Nov-36 May-16 | Nov-11| Jul-09 Jan-09 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Jul-09 | | M-1 Avg Life (years) 29.33 8.52 | 4.90| 5.09 3.46 First Payment Date Jun-34 Feb-11 | Dec-10| Mar-12 Jul-09 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-10 | | M-2 Avg Life (years) 29.33 8.52 | 4.75| 4.68 3.68 First Payment Date Jun-34 Feb-11 | Sep-10| May-11 Nov-10 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-10 | | M-3 Avg Life (years) 29.33 8.52 | 4.67| 4.32 3.56 First Payment Date May-34 Feb-11 | Aug-10| Feb-11 Aug-10 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Sensitivity Table To 10% Call (Continued) ------------------------------------------------------------------------------------------------------- Fixed}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC Arm}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC |------------| M-4 Avg Life (years) 29.32 8.52 | 4.64| 4.18 3.37 First Payment Date May-34 Feb-11 | Jul-10| Dec-10 May-10 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-10 | | M-5 Avg Life (years) 29.32 8.52 | 4.61| 4.06 3.24 First Payment Date May-34 Feb-11 | Jun-10| Oct-10 Mar-10 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-10 | | M-6 Avg Life (years) 29.32 8.52 | 4.60| 3.98 3.14 First Payment Date May-34 Feb-11 | Jun-10| Sep-10 Feb-10 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-10 | | M-7 Avg Life (years) 29.32 8.52 | 4.57| 3.92 3.06 First Payment Date May-34 Feb-11 | May-10| Jul-10 Dec-09 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-10 | | M-8 Avg Life (years) 29.32 8.52 | 4.57| 3.87 3.01 First Payment Date May-34 Feb-11 | May-10| Jul-10 Nov-09 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-10 | | M-9 Avg Life (years) 29.32 8.52 | 4.54| 3.82 2.95 First Payment Date May-34 Feb-11 | Apr-10| May-10 Oct-09 Last Payment Date Nov-36 Apr-20 | Dec-13| Apr-12 Nov-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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Sensitivity Table To Maturity ------------------------------------------------------------------------------------------------------- Fixed}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC Arm}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC | | |------------| A-1 Avg Life (years) 22.63 4.55 | 2.38| 1.61 1.14 First Payment Date Mar-07 Mar-07 | Mar-07| Mar-07 Mar-07 Last Payment Date Nov-36 Mar-34 | Aug-22| Jun-19 Jul-09 | | A-2A Avg Life (years) 15.62 1.50 | 0.95| 0.78 0.62 First Payment Date Mar-07 Mar-07 | Mar-07| Mar-07 Mar-07 Last Payment Date Dec-30 Feb-10 | Dec-08| Sep-08 May-08 | | A-2B Avg Life (years) 26.03 3.85 | 1.95| 1.71 1.42 First Payment Date Dec-30 Feb-10 | Dec-08| Sep-08 May-08 Last Payment Date Oct-35 Jun-12 | Jul-09| Jan-09 Nov-08 | | A-2C Avg Life (years) 29.52 6.99 | 2.98| 2.02 1.75 First Payment Date Oct-35 Jun-12 | Jul-09| Jan-09 Nov-08 Last Payment Date Nov-36 May-16 | Nov-11| Jul-09 Jan-09 | | A-2D Avg Life (years) 29.68 13.94 | 7.60| 4.14 2.03 First Payment Date Nov-36 May-16 | Nov-11| Jul-09 Jan-09 Last Payment Date Nov-36 May-33 | Nov-21| Jun-19 Jul-09 | | M-1 Avg Life (years) 29.33 9.31 | 5.43| 6.07 5.70 First Payment Date Jun-34 Feb-11 | Dec-10| Mar-12 Jul-09 Last Payment Date Nov-36 Dec-30 | Aug-20| Jul-17 Apr-16 | | M-2 Avg Life (years) 29.33 9.28 | 5.27| 5.08 4.40 First Payment Date Jun-34 Feb-11 | Sep-10| May-11 Nov-10 Last Payment Date Nov-36 Aug-29 | Jan-20| Jan-17 Jun-14 | | M-3 Avg Life (years) 29.33 9.25 | 5.17| 4.71 3.86 First Payment Date May-34 Feb-11 | Aug-10| Feb-11 Aug-10 Last Payment Date Nov-36 Jun-28 | Apr-19| Jun-16 Jan-14 ------------------------------------------------------------------------------------------------------- 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Sensitivity Table To Maturity (Continued) ------------------------------------------------------------------------------------------------------- Fixed}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC Arm}} 0% PPC 55% PPC | 100% PPC| 125% PPC 160% PPC | | |------------| M-4 Avg Life (years) 29.32 9.22 | 5.13| 4.55 3.66 First Payment Date May-34 Feb-11 | Jul-10| Dec-10 May-10 Last Payment Date Nov-36 Nov-27 | Dec-18| Mar-16 Oct-13 | | M-5 Avg Life (years) 29.32 9.19 | 5.08| 4.43 3.51 First Payment Date May-34 Feb-11 | Jun-10| Oct-10 Mar-10 Last Payment Date Nov-36 Mar-27 | Jul-18| Nov-15 Jul-13 | | M-6 Avg Life (years) 29.32 9.15 | 5.04| 4.33 3.40 First Payment Date May-34 Feb-11 | Jun-10| Sep-10 Feb-10 Last Payment Date Nov-36 May-26 | Jan-18| Jun-15 Mar-13 | | M-7 Avg Life (years) 29.32 9.11 | 4.99| 4.24 3.30 First Payment Date May-34 Feb-11 | May-10| Jul-10 Dec-09 Last Payment Date Nov-36 Oct-25 | Aug-17| Mar-15 Jan-13 | | M-8 Avg Life (years) 29.32 9.04 | 4.95| 4.16 3.23 First Payment Date May-34 Feb-11 | May-10| Jul-10 Nov-09 Last Payment Date Nov-36 Oct-24 | Jan-17| Sep-14 Sep-12 | | M-9 Avg Life (years) 29.32 8.95 | 4.86| 4.07 3.14 First Payment Date May-34 Feb-11 | Apr-10| May-10 Oct-09 Last Payment Date Nov-36 Jan-24 | Aug-16| May-14 Jun-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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------- ---------------------------------------- Class A-1 Effective Net WAC Schedule* Class A-1 Effective Net WAC Schedule* Effective Net Effective Net Period Date WAC (%) Period Date WAC (%) ---------------------------------------- ---------------------------------------- 1 3/25/2007 60.800 46 12/25/2010 15.706 2 4/25/2007 20.290 47 1/25/2011 15.221 3 5/25/2007 20.550 48 2/25/2011 15.069 4 6/25/2007 20.291 49 3/25/2011 16.001 5 7/25/2007 20.551 50 4/25/2011 14.767 6 8/25/2007 20.291 51 5/25/2011 15.046 7 9/25/2007 21.877 52 6/25/2011 15.147 8 10/25/2007 21.797 53 7/25/2011 15.359 9 11/25/2007 21.456 54 8/25/2011 14.842 10 12/25/2007 21.336 55 9/25/2011 14.689 11 1/25/2008 20.971 56 10/25/2011 14.905 12 2/25/2008 20.734 57 11/25/2011 14.387 13 3/25/2008 20.772 58 12/25/2011 14.618 14 4/25/2008 20.269 59 1/25/2012 14.093 15 5/25/2008 20.178 60 2/25/2012 13.938 16 6/25/2008 19.817 61 3/25/2012 12.647 17 7/25/2008 19.737 62 4/25/2012 11.823 18 8/25/2008 19.377 63 5/25/2012 12.212 19 9/25/2008 19.161 64 6/25/2012 11.824 20 10/25/2008 19.096 65 7/25/2012 12.209 21 11/25/2008 18.817 66 8/25/2012 11.807 22 12/25/2008 18.584 67 9/25/2012 11.799 23 1/25/2009 17.460 68 10/25/2012 12.183 24 2/25/2009 16.630 69 11/25/2012 11.782 25 3/25/2009 16.577 70 12/25/2012 12.166 26 4/25/2009 15.734 71 1/25/2013 11.765 27 5/25/2009 15.870 72 2/25/2013 11.757 28 6/25/2009 16.097 73 3/25/2013 13.007 29 7/25/2009 16.170 74 4/25/2013 11.740 30 8/25/2009 15.766 75 5/25/2013 12.123 31 9/25/2009 15.604 76 6/25/2013 11.723 32 10/25/2009 15.686 77 7/25/2013 12.105 33 11/25/2009 15.374 78 8/25/2013 11.706 34 12/25/2009 16.102 79 9/25/2013 11.698 35 1/25/2010 15.673 80 10/25/2013 12.079 36 2/25/2010 15.516 81 11/25/2013 11.681 37 3/25/2010 16.243 82 12/25/2013 12.061 38 4/25/2010 15.204 ---------------------------------------- 39 5/25/2010 15.421 40 6/25/2010 15.596 41 7/25/2010 15.746 *PPC: 100% (ARM); PPC: 100% (Fixed) 42 8/25/2010 15.289 *1 Month LIBOR: 20% 43 9/25/2010 15.136 *6 Month Libor: 20% 44 10/25/2010 15.292 *Includes Net Swap Payments received 45 11/25/2010 14.922 from the Swap Provider ----------------------------------------- *Includes Cap proceeds * Assumes Administration fee rate of 0.5200% 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------- ---------------------------------------- Class A-2 Effective Net WAC Schedule* Class A-2 Effective Net WAC Schedule* Effective Net Effective Net Period Date WAC (%) Period Date WAC (%) ---------------------------------------- ---------------------------------------- 1 3/25/2007 60.742 46 12/25/2010 15.895 2 4/25/2007 20.281 47 1/25/2011 15.406 3 5/25/2007 20.542 48 2/25/2011 15.257 4 6/25/2007 20.283 49 3/25/2011 16.212 5 7/25/2007 20.543 50 4/25/2011 14.960 6 8/25/2007 20.285 51 5/25/2011 15.189 7 9/25/2007 21.872 52 6/25/2011 15.351 8 10/25/2007 21.793 53 7/25/2011 15.572 9 11/25/2007 21.453 54 8/25/2011 15.051 10 12/25/2007 21.334 55 9/25/2011 14.901 11 1/25/2008 20.971 56 10/25/2011 15.126 12 2/25/2008 20.735 57 11/25/2011 14.601 13 3/25/2008 20.774 58 12/25/2011 14.836 14 4/25/2008 20.272 59 1/25/2012 14.306 15 5/25/2008 20.183 60 2/25/2012 14.154 16 6/25/2008 19.823 61 3/25/2012 12.881 17 7/25/2008 19.744 62 4/25/2012 12.044 18 8/25/2008 19.385 63 5/25/2012 12.441 19 9/25/2008 19.171 64 6/25/2012 12.041 20 10/25/2008 19.107 65 7/25/2012 12.437 21 11/25/2008 18.769 66 8/25/2012 12.030 22 12/25/2008 18.629 67 9/25/2012 12.025 23 1/25/2009 17.521 68 10/25/2012 12.420 24 2/25/2009 16.708 69 11/25/2012 12.014 25 3/25/2009 16.684 70 12/25/2012 12.408 26 4/25/2009 15.833 71 1/25/2013 12.002 27 5/25/2009 15.916 72 2/25/2013 11.997 28 6/25/2009 16.217 73 3/25/2013 13.276 29 7/25/2009 16.297 74 4/25/2013 11.986 30 8/25/2009 15.892 75 5/25/2013 12.379 31 9/25/2009 15.732 76 6/25/2013 11.975 32 10/25/2009 15.821 77 7/25/2013 12.368 33 11/25/2009 15.447 78 8/25/2013 11.963 34 12/25/2009 16.248 79 9/25/2013 11.958 35 1/25/2010 15.816 80 10/25/2013 12.350 36 2/25/2010 15.662 81 11/25/2013 11.946 37 3/25/2010 16.407 82 12/25/2013 12.339 38 4/25/2010 15.356 ---------------------------------------- 39 5/25/2010 15.519 40 6/25/2010 15.757 41 7/25/2010 15.915 *PPC: 100% (ARM); PPC: 100% (Fixed) 42 8/25/2010 15.456 *1 Month LIBOR: 20% 43 9/25/2010 15.306 *6 Month Libor: 20% 44 10/25/2010 15.470 *Includes Net Swap Payments 45 11/25/2010 15.039 received from the Swap Provider ---------------------------------------- *Includes Cap proceeds * Assumes Administration fee rate of 0.5200% 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------- ---------------------------------------- Class M Effective Net WAC Class M Effective Net WAC Schedule* Schedule* Effective Net Effective Net Period Date WAC (%) Period Date WAC (%) ---------------------------------------- ---------------------------------------- 1 3/25/2007 60.769 46 12/25/2010 15.807 2 4/25/2007 20.286 47 1/25/2011 15.320 3 5/25/2007 20.546 48 2/25/2011 15.170 4 6/25/2007 20.287 49 3/25/2011 16.114 5 7/25/2007 20.547 50 4/25/2011 14.870 6 8/25/2007 20.288 51 5/25/2011 15.123 7 9/25/2007 21.874 52 6/25/2011 15.256 8 10/25/2007 21.795 53 7/25/2011 15.473 9 11/25/2007 21.454 54 8/25/2011 14.954 10 12/25/2007 21.335 55 9/25/2011 14.803 11 1/25/2008 20.971 56 10/25/2011 15.023 12 2/25/2008 20.734 57 11/25/2011 14.502 13 3/25/2008 20.773 58 12/25/2011 14.734 14 4/25/2008 20.271 59 1/25/2012 14.207 15 5/25/2008 20.180 60 2/25/2012 14.053 16 6/25/2008 19.820 61 3/25/2012 12.772 17 7/25/2008 19.740 62 4/25/2012 11.941 18 8/25/2008 19.382 63 5/25/2012 12.335 19 9/25/2008 19.166 64 6/25/2012 11.940 20 10/25/2008 19.102 65 7/25/2012 12.331 21 11/25/2008 18.791 66 8/25/2012 11.926 22 12/25/2008 18.608 67 9/25/2012 11.919 23 1/25/2009 17.492 68 10/25/2012 12.310 24 2/25/2009 16.672 69 11/25/2012 11.906 25 3/25/2009 16.634 70 12/25/2012 12.296 26 4/25/2009 15.787 71 1/25/2013 11.892 27 5/25/2009 15.894 72 2/25/2013 11.885 28 6/25/2009 16.161 73 3/25/2013 13.151 29 7/25/2009 16.238 74 4/25/2013 11.871 30 8/25/2009 15.833 75 5/25/2013 12.260 31 9/25/2009 15.672 76 6/25/2013 11.858 32 10/25/2009 15.758 77 7/25/2013 12.246 33 11/25/2009 15.413 78 8/25/2013 11.844 34 12/25/2009 16.180 79 9/25/2013 11.837 35 1/25/2010 15.750 80 10/25/2013 12.224 36 2/25/2010 15.594 81 11/25/2013 11.823 37 3/25/2010 16.330 82 12/25/2013 12.210 38 4/25/2010 15.285 ---------------------------------------- 39 5/25/2010 15.473 40 6/25/2010 15.682 41 7/25/2010 15.836 *PPC: 100% (ARM); PPC: 100% (Fixed) 42 8/25/2010 15.378 *1 Month LIBOR: 20% 43 9/25/2010 15.227 *6 Month Libor: 20% 44 10/25/2010 15.387 *Includes Net Swap Payments 45 11/25/2010 14.984 received from the Swap Provider ---------------------------------------- *Includes Cap proceeds * Assumes Administration fee rate of 0.5200% 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Excess Spread* (Assumes Pricing Prepayment Speed, Excludes Basis Risk Shortfalls) - ------------------------------------------------------------------------------------------------------------------------------------ Excess Excess Excess Excess Spread in Spread in Spread in Spread in bp 1 Month 6 Month bp bp 1 Month 6 Month bp (Static Forward Forward (Forward (Static Forward Forward (Forward Period LIBOR) LIBOR (%) LIBOR (%) LIBOR) Period LIBOR) LIBOR (%) LIBOR (%) LIBOR) - ------------------------------------------------------------------------------------------------------------------------------------ 1 713 5.3200 5.3144 713 45 488 4.7639 4.8490 489 2 239 5.3349 5.2627 238 46 502 4.7619 4.8705 506 3 257 5.3186 5.1976 258 47 488 4.7608 4.8905 494 4 239 5.2377 5.1305 247 48 487 4.7612 4.9147 494 5 258 5.1665 5.0665 272 49 529 4.8793 4.9355 525 6 240 5.1479 5.0000 256 50 486 4.8807 4.9367 485 7 304 5.0159 4.9303 305 51 500 4.8831 4.9393 499 8 305 4.9760 4.8979 306 52 485 4.8842 4.9397 490 9 302 4.9042 4.8646 304 53 499 4.8860 4.9414 503 10 304 4.8679 4.8385 307 54 483 4.8875 4.9433 489 11 300 4.7737 4.8091 305 55 482 4.8885 4.9431 488 12 299 4.7270 4.7936 305 56 496 4.8908 4.9588 501 13 305 4.8208 4.7795 311 57 480 4.8910 4.9748 487 14 297 4.7824 4.7407 304 58 494 4.8923 4.9898 504 15 300 4.7492 4.7077 308 59 478 4.8940 5.0055 489 16 295 4.7128 4.6720 305 60 477 4.8996 5.0230 488 17 299 4.6762 4.6351 310 61 504 4.9837 5.0383 511 18 294 4.6431 4.6021 306 62 467 4.9870 5.0404 476 19 293 4.6081 4.5681 307 63 485 4.9894 5.0433 493 20 297 4.5734 4.5895 312 64 466 4.9915 5.0450 479 21 297 4.5404 4.6118 315 65 485 4.9947 5.0486 496 22 371 4.5069 4.6404 394 66 466 4.9968 5.0495 478 23 360 4.4724 4.6734 390 67 466 4.9986 5.0502 477 24 357 4.4408 4.7092 392 68 484 5.0011 5.0655 494 25 384 4.7215 4.7469 408 69 465 5.0028 5.0806 477 26 354 4.7109 4.7361 382 70 483 5.0061 5.0954 497 27 370 4.7017 4.7270 396 71 465 5.0070 5.1118 479 28 426 4.6918 4.7173 452 72 464 5.0074 5.1259 479 29 436 4.6819 4.7073 462 73 519 5.0795 5.1413 525 30 425 4.6726 4.6979 453 74 464 5.0823 5.1442 471 31 424 4.6618 4.6900 454 75 482 5.0850 5.1462 489 32 435 4.6531 4.7077 464 76 463 5.0870 5.1480 474 33 426 4.6435 4.7278 456 77 481 5.0898 5.1513 491 34 498 4.6334 4.7517 506 78 463 5.0921 5.1525 473 35 487 4.6244 4.7733 496 79 463 5.0946 5.1532 473 36 486 4.6144 4.7985 497 80 481 5.0963 5.1654 490 37 521 4.7775 4.8235 521 81 462 5.0977 5.1753 472 38 469 4.7757 4.8212 474 82 480 5.1006 5.1867 492 39 476 4.7750 4.8198 481 40 483 4.7724 4.8176 481 41 499 4.7712 4.8162 496 42 488 4.7697 4.8151 487 43 488 4.7673 4.8117 488 44 501 4.7658 4.8298 501 - ------------------------------------------------------------------------------------------------------------------------------------ *Includes Net Swap Payments received from the Swap Provider * Assumes Administration fee rate of 0.5200% 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ Breakeven CDR Table for the Mezzanine Certificates -------------------------------------------------- The assumptions for the breakeven CDR table below are as follows: - - The Pricing Prepayment Assumption is applied - - 10% cleanup call is not exercised - - Forward Curves - - 40% Severity - - Interest & Principal advancing - - 6 month recovery lag - - Triggers Failing - - Assumes Administration fee rate of 0.5200% The table below displays the Constant Default Rate ("CDR") and the related cumulative collateral loss before the referenced Class incurs a writedown. -------------------------------------------------------------------------- Class CDR Break-Even (%) Cumulative Loss (%) -------------------------------------------------------------------------- M-1 32.69 22.81 M-2 25.22 19.51 M-3 22.28 18.01 M-4 19.81 16.65 M-5 17.25 15.12 M-6 15.71 14.14 M-7 13.87 12.89 M-8 12.77 12.11 M-9 11.42 11.10 -------------------------------------------------------------------------- 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ SUMMARY - AGGREGATE POOL* - ------------------------------------------------------------------------------------------------------------------------------------ Number of Mortgage Loans: 3,386 Index Type: Aggregate Principal Balance: $615,416,605 6 Month LIBOR: 79.76% Conforming Principal Balance Loans: $508,075,825 Fixed Rate: 20.24% Average Principal Balance: $181,753 W.A. Initial Periodic Cap**: 1.000% Range: $12,482 - $998,749 W.A. Subsequent Periodic Cap**: 1.000% W.A. Coupon: 8.565% W.A. Lifetime Rate Cap**: 6.000% Range: 6.030% - 13.150% Property Type: W.A. Gross Margin: 6.051% Single Family: 74.46% Range: 5.000% - 7.250% PUD: 12.95% W.A. Remaining Term (months): 339 2-4 Family: 5.76% Range (months): 173 - 358 Condo: 6.83% W.A. Seasoning (months): 3 Occupancy Status: Latest Maturity Date: December 1, 2036 Primary: 94.44% State Concentration (Top 5): Investment: 4.66% California: 50.23% Second Home: 0.90% Florida: 10.89% Documentation Status: Texas: 8.99% Full: 50.70% Arizona: 5.44% Stated: 48.48% Illinois: 4.93% Limited: 0.82% W.A. Original Combined LTV: 83.15% Non-Zero W.A. Prepayment Penalty - Term (months): 24 Range: 13.25% - 100.00% Loans with Prepay Penalties: 82.44% First Liens: 90.21% Interest Only Loans: 12.71% Second Liens: 9.79% Non-Zero W.A. Interest Only Term (months): 58 Non-Balloon Loans: 41.33% Non-Zero W.A. FICO Score: 629 - ------------------------------------------------------------------------------------------------------------------------------------ * Subject to a permitted variance of +/- 10% ** ARM loans only 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Originator - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Mortgage Remaining Remaining W.A. Non-Zero Original Originator Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ RESMAE 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Collateral Type - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Remaining Remaining W.A. Non-Zero Original Collateral Type Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Fixed - 15 Year 21 1,720,954 0.28 8.920 649 82.48 Fixed - 30 Year 296 47,385,063 7.70 8.064 631 78.66 Fixed - 30 Year IO 2 422,500 0.07 7.867 690 83.94 Balloon - 15/30 1,018 59,631,598 9.69 11.531 646 99.93 Balloon - 30/40 42 11,358,895 1.85 7.862 622 78.00 Balloon - 30/50 13 4,016,249 0.65 7.946 615 79.81 ARM - 6 Month 6 1,128,327 0.18 9.316 614 84.61 ARM - 2 Year/6 Month 716 121,687,594 19.77 8.582 619 81.76 ARM - 2 Year/6 Month IO 239 76,517,873 12.43 7.906 647 81.59 ARM - 2 Year/6 Month 30/40 Balloon 781 213,567,582 34.70 8.282 621 81.29 ARM - 2 Year/6 Month 30/50 Balloon 214 69,000,424 11.21 8.109 632 82.98 ARM - 3 Year/6 Month 19 4,226,769 0.69 8.319 618 80.83 ARM - 3 Year/6 Month IO 4 1,279,200 0.21 7.782 649 85.07 ARM - 3 Year/6 Month 30/40 Balloon 14 3,164,635 0.51 7.914 622 80.47 ARM - 3 Year/6 Month 30/50 Balloon 1 308,942 0.05 9.835 597 75.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ IO Terms - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. IO Terms (mos.) Number of Aggregate Remaining Remaining W.A. Non-Zero Original Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0 3,141 537,197,033 87.29 8.661 626 83.37 24 11 3,102,050 0.50 7.745 648 80.28 36 1 340,000 0.06 7.990 674 80.00 60 233 74,777,522 12.15 7.910 648 81.72 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Principal Balance at Origination - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Principal Balance at Initial Mortgage Remaining Remaining W.A. Non-Zero Original Origination ($) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 507 16,303,076 2.65 11.188 630 99.48 50,000.01 - 100,000.00 727 54,680,477 8.89 10.396 629 91.01 100,000.01 - 150,000.00 552 68,198,307 11.08 9.188 622 84.44 150,000.01 - 200,000.00 390 68,039,980 11.06 8.506 622 81.02 200,000.01 - 250,000.00 282 63,223,224 10.27 8.393 618 81.73 250,000.01 - 300,000.00 253 69,681,361 11.32 8.193 623 80.65 300,000.01 - 350,000.00 222 71,628,250 11.64 8.114 628 80.82 350,000.01 - 400,000.00 164 61,561,914 10.00 8.041 625 80.84 400,000.01 - 450,000.00 125 52,994,279 8.61 8.142 636 82.38 450,000.01 - 500,000.00 72 34,333,897 5.58 8.030 645 81.69 500,000.01 - 550,000.00 36 18,850,784 3.06 7.823 659 82.72 550,000.01 - 600,000.00 25 14,379,459 2.34 7.905 635 83.81 600,000.01 - 650,000.00 13 8,200,867 1.33 7.886 626 85.45 650,000.01 - 700,000.00 8 5,342,190 0.87 7.586 669 84.22 700,000.01 - 750,000.00 3 2,152,911 0.35 7.830 650 93.29 750,000.01 - 800,000.00 4 3,102,849 0.50 8.051 674 82.46 800,000.01 - 850,000.00 1 824,368 0.13 7.630 573 66.00 900,000.01 - 950,000.00 1 919,663 0.15 8.105 735 80.00 950,000.01 - 1,000,000.00 1 998,749 0.16 7.730 653 80.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Principal Balance - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Remaining Principal Initial Remaining Remaining W.A. Non-Zero Original Balance ($) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 508 16,353,012 2.66 11.185 630 99.45 50,000.01 - 100,000.00 726 54,630,541 8.88 10.396 629 91.01 100,000.01 - 150,000.00 552 68,198,307 11.08 9.188 622 84.44 150,000.01 - 200,000.00 390 68,039,980 11.06 8.506 622 81.02 200,000.01 - 250,000.00 283 63,473,003 10.31 8.391 618 81.67 250,000.01 - 300,000.00 253 69,731,273 11.33 8.197 624 80.76 300,000.01 - 350,000.00 221 71,328,559 11.59 8.110 628 80.76 350,000.01 - 400,000.00 164 61,561,914 10.00 8.041 625 80.84 400,000.01 - 450,000.00 125 52,994,279 8.61 8.142 636 82.38 450,000.01 - 500,000.00 72 34,333,897 5.58 8.030 645 81.69 500,000.01 - 550,000.00 36 18,850,784 3.06 7.823 659 82.72 550,000.01 - 600,000.00 25 14,379,459 2.34 7.905 635 83.81 600,000.01 - 650,000.00 13 8,200,867 1.33 7.886 626 85.45 650,000.01 - 700,000.00 8 5,342,190 0.87 7.586 669 84.22 700,000.01 - 750,000.00 3 2,152,911 0.35 7.830 650 93.29 750,000.01 - 800,000.00 4 3,102,849 0.50 8.051 674 82.46 800,000.01 - 850,000.00 1 824,368 0.13 7.630 573 66.00 900,000.01 - 950,000.00 1 919,663 0.15 8.105 735 80.00 950,000.01 - 1,000,000.00 1 998,749 0.16 7.730 653 80.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Term - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Months Remaining Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 121 - 180 1,039 61,352,552 9.97 11.458 646 99.44 301 - 360 2,347 554,064,053 90.03 8.244 627 81.35 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Mortgage Rate - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 20 7,387,022 1.20 6.315 657 76.62 6.500 - 6.999 149 45,121,007 7.33 6.811 656 78.82 7.000 - 7.499 245 67,946,611 11.04 7.280 644 79.57 7.500 - 7.999 463 122,156,570 19.85 7.764 634 80.22 8.000 - 8.499 414 100,747,258 16.37 8.255 632 81.72 8.500 - 8.999 481 102,816,508 16.71 8.732 620 82.36 9.000 - 9.499 259 50,170,419 8.15 9.221 609 83.01 9.500 - 9.999 425 46,195,442 7.51 9.717 590 86.58 10.000 - 10.499 106 14,902,328 2.42 10.233 619 88.44 10.500 - 10.999 71 8,536,547 1.39 10.678 607 90.53 11.000 - 11.499 146 11,574,337 1.88 11.157 672 97.67 11.500 - 11.999 218 15,310,842 2.49 11.749 642 99.22 12.000 - 12.499 234 13,953,351 2.27 12.271 623 98.90 12.500 - 12.999 153 8,559,031 1.39 12.667 604 99.90 13.000 - 13.499 2 39,331 0.01 13.103 588 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Original Combined Loan-to-Value Ratio - ------------------------------------------------------------------------------------------------------------------------------------ Original Combined Number of Aggregate % of Aggregate W.A. W.A. Loan-to-Value Initial Mortgage Remaining Remaining W.A. Non-Zero Original Ratio (%) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Less than or equal to 50.00 34 5,498,354 0.89 8.130 601 42.53 50.01 - 55.00 25 4,557,605 0.74 7.917 588 52.56 55.01 - 60.00 24 4,280,550 0.70 7.937 603 58.39 60.01 - 65.00 40 10,410,015 1.69 7.977 606 63.59 65.01 - 70.00 82 20,756,874 3.37 8.113 600 68.53 70.01 - 75.00 100 26,878,206 4.37 8.074 601 74.01 75.01 - 80.00 1,324 306,651,301 49.83 8.120 637 79.90 80.01 - 85.00 168 41,419,305 6.73 8.485 604 84.52 85.01 - 90.00 380 94,107,923 15.29 8.389 620 89.80 90.01 - 95.00 140 30,655,392 4.98 8.794 632 94.66 95.01 - 100.00 1,069 70,201,080 11.41 11.214 646 99.99 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ FICO Score at Origination - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. FICO Score Number of Aggregate Remaining Remaining W.A. Non-Zero Original At Origination Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 500 - 524 39 9,135,763 1.48 9.621 519 77.27 525 - 549 157 32,387,938 5.26 9.213 537 77.54 550 - 574 170 38,751,530 6.30 8.712 563 79.39 575 - 599 573 87,361,627 14.20 8.726 589 83.48 600 - 624 704 115,065,502 18.70 8.481 612 83.40 625 - 649 872 150,285,346 24.42 8.649 636 84.32 650 - 674 412 82,977,293 13.48 8.384 661 83.75 675 - 699 209 47,705,747 7.75 8.236 685 84.39 700 - 724 121 23,119,516 3.76 8.062 712 84.39 725 - 749 81 17,419,559 2.83 8.267 735 84.03 750 - 774 32 8,131,827 1.32 8.064 761 83.07 775 - 799 14 2,776,149 0.45 7.965 787 81.72 800 - 824 2 298,808 0.05 7.674 800 84.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Geographic Distribution* - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Mortgage Remaining Remaining W.A. Non-Zero Original Location Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ California 1,188 309,141,725 50.23 8.337 636 82.77 Florida 362 66,990,394 10.89 8.730 628 82.62 Texas 609 55,295,432 8.99 8.709 614 83.29 Arizona 220 33,484,608 5.44 8.518 625 83.39 Illinois 171 30,316,482 4.93 9.102 621 85.11 New York 48 12,057,656 1.96 8.906 625 81.20 Georgia 88 11,780,310 1.91 8.914 629 85.24 Utah 87 11,325,431 1.84 8.783 641 85.47 Hawaii 38 9,942,307 1.62 8.170 626 80.78 North Carolina 74 6,837,067 1.11 9.190 608 84.46 Missouri 56 6,737,792 1.09 9.274 616 86.16 Maryland 26 6,442,924 1.05 8.854 595 81.17 Minnesota 51 6,373,797 1.04 8.790 634 83.34 Nevada 27 5,731,665 0.93 8.536 618 85.96 Tennessee 32 4,426,687 0.72 8.427 632 82.43 Louisiana 45 4,196,314 0.68 8.957 608 84.85 Virginia 20 3,941,775 0.64 8.905 621 83.10 Colorado 24 3,619,594 0.59 8.649 618 82.24 Michigan 28 2,985,089 0.49 9.187 604 84.88 Connecticut 17 2,898,624 0.47 9.434 610 80.90 New Jersey 10 2,635,356 0.43 8.661 591 78.72 Alabama 24 2,116,360 0.34 9.333 605 86.64 Mississippi 18 1,946,738 0.32 9.832 593 89.82 Pennsylvania 10 1,821,343 0.30 7.802 638 84.14 Wisconsin 18 1,732,149 0.28 9.353 627 87.45 New Mexico 16 1,725,562 0.28 9.474 623 83.57 Arkansas 11 1,390,979 0.23 9.055 604 83.93 Kansas 13 1,051,395 0.17 9.145 606 84.16 South Carolina 6 1,012,399 0.16 8.888 605 83.76 Washington 4 953,221 0.15 9.184 579 88.85 Ohio 9 911,064 0.15 9.816 593 93.14 Kentucky 10 823,857 0.13 8.825 612 84.00 Oregon 6 703,917 0.11 9.459 585 79.88 Indiana 10 691,577 0.11 9.091 601 91.71 - ------------------------------------------------------------------------------------------------------------------------------------ *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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Geographic Distribution (Continued) - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Location Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Massachusetts 5 593,890 0.10 8.765 585 82.54 Oklahoma 3 366,002 0.06 9.542 567 88.42 Rhode Island 1 235,555 0.04 8.360 588 80.00 Delaware 1 179,565 0.03 7.535 671 94.74 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Occupancy Status - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Occupancy Status Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Primary 3,222 581,219,986 94.44 8.566 628 83.17 Investment 140 28,669,922 4.66 8.601 634 82.38 Second Home 24 5,526,697 0.90 8.246 643 85.50 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Documentation Type - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Program Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Full Documentation 1,830 312,013,799 50.70 8.205 620 83.40 Stated Documentation 1,532 298,345,918 48.48 8.947 637 82.95 Limited Documentation 24 5,056,888 0.82 8.211 637 79.80 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Loan Purpose - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Purpose Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Purchase 2,311 360,292,483 58.54 8.748 641 84.79 Refinance - Cashout 1,011 246,190,033 40.00 8.306 611 80.76 Refinance - Rate Term 64 8,934,089 1.45 8.305 622 83.16 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Property Type - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Property Type Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Single Family Residence 2,520 458,241,704 74.46 8.531 627 83.01 PUD 494 79,695,400 12.95 8.628 631 84.31 Condo 243 42,034,164 6.83 8.732 637 83.82 2-4 Family 129 35,445,338 5.76 8.655 632 81.63 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Next Rate Adjustment Date* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Month & Year of Next Number of Aggregate Remaining Remaining W.A. Non-Zero Original Rate Adjustment Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ May 2007 6 1,128,327 0.23 9.316 614 84.61 July 2008 2 231,021 0.05 8.378 602 81.19 August 2008 5 959,910 0.20 9.127 599 86.70 September 2008 14 3,130,780 0.64 8.548 607 87.07 October 2008 276 64,577,111 13.16 8.447 624 80.92 November 2008 1,651 411,411,801 83.81 8.242 627 81.77 December 2008 2 462,851 0.09 7.826 614 76.68 October 2009 8 2,057,506 0.42 7.694 609 80.59 November 2009 30 6,922,041 1.41 8.288 627 81.26 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Gross Margin* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Gross Number of Aggregate Remaining Remaining W.A. Non-Zero Original Margin (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 5.000 - 5.499 10 2,163,363 0.44 9.659 605 86.87 5.500 - 5.999 38 8,206,299 1.67 9.296 605 82.93 6.000 - 6.499 1,839 454,738,404 92.64 8.216 630 82.06 6.500 - 6.999 86 20,852,577 4.25 8.682 574 74.97 7.000 - 7.499 21 4,920,703 1.00 9.525 562 71.80 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Maximum Mortgage Rate* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Maximum Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 12.000 - 12.499 20 7,387,022 1.50 6.315 657 76.62 12.500 - 12.999 98 32,224,400 6.56 6.837 655 80.63 13.000 - 13.499 201 58,088,413 11.83 7.278 645 80.03 13.500 - 13.999 398 109,062,144 22.22 7.762 634 80.65 14.000 - 14.499 367 93,245,875 19.00 8.252 632 81.66 14.500 - 14.999 409 91,340,945 18.61 8.732 620 82.56 15.000 - 15.499 228 46,678,052 9.51 9.218 609 82.88 15.500 - 15.999 167 35,007,912 7.13 9.716 584 84.63 16.000 - 16.499 61 10,790,159 2.20 10.226 593 85.61 16.500 - 16.999 28 4,911,950 1.00 10.687 570 85.52 17.000 - 17.499 9 1,282,086 0.26 11.223 544 79.42 17.500 - 17.999 5 442,479 0.09 11.612 533 77.15 18.000 - 18.499 2 362,412 0.07 12.193 533 60.69 18.500 - 18.999 1 57,500 0.01 12.600 644 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Minimum Mortgage Rate* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Minimum Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 20 7,387,022 1.50 6.315 657 76.62 6.500 - 6.999 98 32,224,400 6.56 6.837 655 80.63 7.000 - 7.499 201 58,088,413 11.83 7.278 645 80.03 7.500 - 7.999 398 109,062,144 22.22 7.762 634 80.65 8.000 - 8.499 367 93,245,875 19.00 8.252 632 81.66 8.500 - 8.999 409 91,340,945 18.61 8.732 620 82.56 9.000 - 9.499 228 46,678,052 9.51 9.218 609 82.88 9.500 - 9.999 167 35,007,912 7.13 9.716 584 84.63 10.000 - 10.499 61 10,790,159 2.20 10.226 593 85.61 10.500 - 10.999 28 4,911,950 1.00 10.687 570 85.52 11.000 - 11.499 9 1,282,086 0.26 11.223 544 79.42 11.500 - 11.999 5 442,479 0.09 11.612 533 77.15 12.000 - 12.499 2 362,412 0.07 12.193 533 60.69 12.500 - 12.999 1 57,500 0.01 12.600 644 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Initial Periodic Rate Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Initial Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 1.000 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Subsequent Periodic Rate Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Subsequent Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 1.000 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Lifetime Periodic Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Lifetime Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,994 490,881,347 100.00 8.273 626 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Original Prepayment Charge Term - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Prepayment Penalty Number of Aggregate Remaining Remaining W.A. Non-Zero Original Term (mos.) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0 683 108,041,487 17.56 9.125 621 84.12 12 171 46,008,276 7.48 8.658 634 82.27 24 2,157 405,742,279 65.93 8.483 629 83.50 30 4 814,187 0.13 8.895 600 90.35 36 371 54,810,375 8.91 7.985 635 79.27 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,386 615,416,605 100.00 8.565 629 83.15 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ SUMMARY - GROUP 1 POOL* - ------------------------------------------------------------------------------------------------------------------------------------ Number of Mortgage Loans: 1,814 Index Type: Aggregate Principal Balance: $286,797,652 6 Month LIBOR: 79.55% Conforming Principal Balance Loans: $286,797,652 Fixed Rate: 20.45% Average Principal Balance: $158,102 W.A. Initial Periodic Cap**: 1.000% Range: $12,482 - $665,191 W.A. Subsequent Periodic Cap**: 1.000% W.A. Coupon: 8.570% W.A. Lifetime Rate Cap**: 6.000% Range: 6.030% - 12.900% Property Type: W.A. Gross Margin: 6.082% Single Family: 76.13% Range: 5.000% - 7.250% PUD: 10.33% W.A. Remaining Term (months): 347 2-4 Family: 7.38% Range (months): 173 - 358 Condo: 6.15% W.A. Seasoning (months): 3 Occupancy Status: Latest Maturity Date: December 1, 2036 Primary: 91.25% State Concentration (Top 5): Investment: 7.30% California: 35.01% Second Home: 1.45% Texas: 10.56% Documentation Status: Florida: 9.69% Full: 51.32% Arizona: 8.47% Stated: 48.00% Illinois: 7.47% Limited: 0.68% W.A. Original Combined LTV: 81.64% Non-Zero W.A. Prepayment Penalty - Term (months): 25 Range: 13.25% - 100.00% Loans with Prepay Penalties: 77.68% First Liens: 94.92% Interest Only Loans: 3.44% Second Liens: 5.08% Non-Zero W.A. Interest Only Term (months): 57 Non-Balloon Loans: 42.41% Non-Zero W.A. FICO Score: 614 - ------------------------------------------------------------------------------------------------------------------------------------ * Subject to a permitted variance of +/- 10% ** ARM loans only 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Originator - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Mortgage Remaining Remaining W.A. Non-Zero Original Originator Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ RESMAE 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Collateral Type - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Remaining Remaining W.A. Non-Zero Original Collateral Type Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Fixed - 15 Year 9 662,437 0.23 8.225 641 69.94 Fixed - 30 Year 227 32,956,726 11.49 8.098 623 78.12 Balloon - 15/30 381 14,474,450 5.05 11.555 632 99.87 Balloon - 30/40 34 8,689,026 3.03 7.872 622 76.87 Balloon - 30/50 8 1,877,279 0.65 8.253 604 78.32 ARM - 6 Month 3 548,507 0.19 9.431 592 89.48 ARM - 2 Year/6 Month 503 74,813,651 26.09 8.677 610 81.41 ARM - 2 Year/6 Month IO 39 9,854,704 3.44 7.696 663 82.38 ARM - 2 Year/6 Month 30/40 Balloon 467 106,454,619 37.12 8.469 606 80.79 ARM - 2 Year/6 Month 30/50 Balloon 117 30,497,732 10.63 8.330 617 82.10 ARM - 3 Year/6 Month 13 2,803,416 0.98 8.271 619 80.01 ARM - 3 Year/6 Month 30/40 Balloon 12 2,856,163 1.00 7.811 621 80.53 ARM - 3 Year/6 Month 30/50 Balloon 1 308,942 0.11 9.835 597 75.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ IO Terms - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. IO Terms (mos.) Number of Aggregate Remaining Remaining W.A. Non-Zero Original Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0 1,775 276,942,948 96.56 8.601 613 81.62 24 3 881,500 0.31 7.558 678 86.27 60 36 8,973,204 3.13 7.709 661 82.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Principal Balance at Origination - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Principal Balance at Initial Mortgage Remaining Remaining W.A. Non-Zero Original Origination ($) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 310 9,585,883 3.34 11.323 628 99.13 50,000.01 - 100,000.00 353 26,724,529 9.32 9.477 617 84.75 100,000.01 - 150,000.00 336 42,283,154 14.74 8.573 609 80.05 150,000.01 - 200,000.00 277 48,199,382 16.81 8.487 617 80.48 200,000.01 - 250,000.00 165 36,686,961 12.79 8.435 613 81.91 250,000.01 - 300,000.00 131 35,725,593 12.46 8.192 614 79.48 300,000.01 - 350,000.00 117 37,786,944 13.18 8.236 617 80.83 350,000.01 - 400,000.00 84 31,484,364 10.98 8.136 610 79.37 400,000.01 - 450,000.00 28 11,568,767 4.03 8.330 613 83.80 450,000.01 - 500,000.00 7 3,389,030 1.18 9.051 628 86.94 500,000.01 - 550,000.00 3 1,564,007 0.55 9.095 616 81.63 550,000.01 - 600,000.00 2 1,133,848 0.40 7.470 594 75.95 650,000.01 - 700,000.00 1 665,191 0.23 7.830 661 90.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Principal Balance - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Remaining Principal Initial Remaining Remaining W.A. Non-Zero Original Balance ($) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 311 9,635,819 3.36 11.316 628 99.09 50,000.01 - 100,000.00 352 26,674,593 9.30 9.476 617 84.74 100,000.01 - 150,000.00 336 42,283,154 14.74 8.573 609 80.05 150,000.01 - 200,000.00 277 48,199,382 16.81 8.487 617 80.48 200,000.01 - 250,000.00 166 36,936,739 12.88 8.431 612 81.81 250,000.01 - 300,000.00 131 35,775,505 12.47 8.200 614 79.70 300,000.01 - 350,000.00 116 37,487,254 13.07 8.230 617 80.72 350,000.01 - 400,000.00 84 31,484,364 10.98 8.136 610 79.37 400,000.01 - 450,000.00 28 11,568,767 4.03 8.330 613 83.80 450,000.01 - 500,000.00 7 3,389,030 1.18 9.051 628 86.94 500,000.01 - 550,000.00 3 1,564,007 0.55 9.095 616 81.63 550,000.01 - 600,000.00 2 1,133,848 0.40 7.470 594 75.95 650,000.01 - 700,000.00 1 665,191 0.23 7.830 661 90.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Term - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Months Remaining Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 121 - 180 390 15,136,887 5.28 11.409 632 98.56 301 - 360 1,424 271,660,765 94.72 8.412 613 80.70 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Mortgage Rate - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 8 2,094,954 0.73 6.297 634 71.93 6.500 - 6.999 88 20,313,494 7.08 6.772 651 76.00 7.000 - 7.499 125 27,133,552 9.46 7.295 632 78.41 7.500 - 7.999 255 54,328,377 18.94 7.784 625 78.45 8.000 - 8.499 232 45,144,937 15.74 8.279 618 81.29 8.500 - 8.999 292 51,758,575 18.05 8.749 609 81.83 9.000 - 9.499 178 30,683,788 10.70 9.231 598 83.45 9.500 - 9.999 262 29,525,310 10.29 9.730 582 85.22 10.000 - 10.499 56 8,084,172 2.82 10.237 593 85.18 10.500 - 10.999 32 4,538,481 1.58 10.718 571 84.26 11.000 - 11.499 54 3,129,682 1.09 11.189 630 92.22 11.500 - 11.999 72 3,589,728 1.25 11.770 628 97.50 12.000 - 12.499 95 3,894,254 1.36 12.256 620 98.04 12.500 - 12.999 65 2,578,347 0.90 12.691 602 99.66 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Original Combined Loan-to-Value Ratio - ------------------------------------------------------------------------------------------------------------------------------------ Original Combined Number of Aggregate % of Aggregate W.A. W.A. Loan-to-Value Initial Mortgage Remaining Remaining W.A. Non-Zero Original Ratio (%) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Less than or equal to 50.00 31 4,718,034 1.65 7.991 605 41.50 50.01 - 55.00 24 4,287,649 1.50 8.036 587 52.60 55.01 - 60.00 21 3,511,476 1.22 7.872 607 58.75 60.01 - 65.00 34 8,147,800 2.84 8.018 602 63.43 65.01 - 70.00 67 15,739,371 5.49 8.164 594 68.46 70.01 - 75.00 83 20,133,558 7.02 8.256 599 73.89 75.01 - 80.00 648 111,537,322 38.89 8.322 621 79.82 80.01 - 85.00 128 25,952,258 9.05 8.709 589 84.66 85.01 - 90.00 274 56,944,236 19.86 8.460 620 89.73 90.01 - 95.00 90 15,874,644 5.54 8.943 625 94.54 95.01 - 100.00 414 19,951,305 6.96 11.032 634 99.97 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ FICO Score at Origination - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. FICO Score Number of Aggregate Remaining Remaining W.A. Non-Zero Original At Origination Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 500 - 524 33 6,376,343 2.22 9.624 519 76.81 525 - 549 131 25,657,111 8.95 9.194 536 77.22 550 - 574 133 27,288,349 9.51 8.813 563 78.56 575 - 599 364 51,192,476 17.85 8.713 588 82.31 600 - 624 418 61,358,962 21.39 8.481 612 82.38 625 - 649 370 53,961,988 18.82 8.500 636 83.78 650 - 674 184 30,868,714 10.76 8.170 660 81.42 675 - 699 81 15,206,398 5.30 8.054 685 82.51 700 - 724 50 6,917,379 2.41 8.171 715 84.26 725 - 749 24 3,366,156 1.17 8.239 737 81.55 750 - 774 18 3,312,497 1.15 7.856 763 85.80 775 - 799 8 1,291,278 0.45 7.759 784 78.16 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Geographic Distribution* - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Mortgage Remaining Remaining W.A. Non-Zero Original Location Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ California 380 100,412,061 35.01 8.199 615 79.30 Texas 355 30,288,645 10.56 8.754 607 82.79 Florida 162 27,802,348 9.69 8.648 614 80.57 Arizona 155 24,285,389 8.47 8.409 620 82.19 Illinois 129 21,429,281 7.47 9.104 617 85.73 Hawaii 31 8,589,376 2.99 8.093 627 80.04 Utah 65 8,022,970 2.80 8.714 642 85.80 Georgia 63 6,840,485 2.39 8.960 610 85.90 Minnesota 46 5,612,127 1.96 8.669 635 83.39 North Carolina 63 5,438,333 1.90 9.206 609 84.21 New York 18 4,866,848 1.70 8.766 595 75.86 Missouri 43 4,591,318 1.60 9.154 608 84.94 Nevada 16 3,356,967 1.17 8.436 617 85.40 Maryland 16 3,320,463 1.16 8.991 591 79.37 Tennessee 26 2,888,146 1.01 8.392 623 83.27 Colorado 20 2,729,796 0.95 8.953 612 81.67 Michigan 24 2,662,391 0.93 9.178 602 84.63 Virginia 15 2,650,916 0.92 8.919 619 81.00 Louisiana 28 2,446,037 0.85 8.714 615 84.82 New Jersey 8 2,214,264 0.77 8.753 584 77.71 Connecticut 13 2,180,922 0.76 9.211 595 79.88 Alabama 20 1,682,084 0.59 9.575 593 85.47 Wisconsin 17 1,584,149 0.55 9.394 625 88.23 Arkansas 11 1,390,979 0.49 9.055 604 83.93 Pennsylvania 9 1,317,712 0.46 8.288 592 84.13 Mississippi 12 940,816 0.33 9.605 618 87.73 Ohio 9 911,064 0.32 9.816 593 93.14 Kentucky 10 823,857 0.29 8.825 612 84.00 New Mexico 8 799,864 0.28 9.038 615 83.07 South Carolina 4 774,182 0.27 9.069 608 83.69 Kansas 10 727,550 0.25 9.494 600 83.82 Indiana 10 691,577 0.24 9.091 601 91.71 Oregon 5 599,957 0.21 9.533 586 79.86 Massachusetts 5 593,890 0.21 8.765 585 82.54 - ------------------------------------------------------------------------------------------------------------------------------------ *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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Geographic Distribution (Continued) - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Location Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Washington 3 549,767 0.19 8.907 577 84.33 Oklahoma 3 366,002 0.13 9.542 567 88.42 Rhode Island 1 235,555 0.08 8.360 588 80.00 Delaware 1 179,565 0.06 7.535 671 94.74 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Occupancy Status - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Occupancy Status Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Primary 1,679 261,699,698 91.25 8.558 613 81.65 Investment 114 20,925,988 7.30 8.772 630 81.20 Second Home 21 4,171,966 1.45 8.301 641 83.28 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Documentation Type - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Program Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Full Documentation 1,027 147,173,141 51.32 8.250 607 82.41 Stated Documentation 778 137,671,891 48.00 8.929 622 80.91 Limited Documentation 9 1,952,621 0.68 7.317 621 75.35 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Loan Purpose - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Purpose Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Refinance - Cashout 842 181,594,669 63.32 8.397 607 79.88 Purchase 914 98,214,478 34.25 8.899 629 84.77 Refinance - Rate Term 58 6,988,505 2.44 8.444 609 83.42 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Property Type - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Property Type Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Single Family Residence 1,399 218,340,175 76.13 8.507 613 81.60 PUD 220 29,632,099 10.33 8.684 611 83.16 2-4 Family 80 21,179,046 7.38 8.875 623 79.15 Condo 115 17,646,332 6.15 8.787 631 82.53 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Next Rate Adjustment Date* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Month & Year of Next Number of Aggregate Remaining Remaining W.A. Non-Zero Original Rate Adjustment Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ May 2007 3 548,507 0.24 9.431 592 89.48 July 2008 1 175,928 0.08 7.710 618 80.00 August 2008 3 532,172 0.23 8.733 612 89.70 September 2008 11 1,904,274 0.83 8.843 602 83.96 October 2008 157 30,057,396 13.18 8.670 612 80.82 November 2008 953 188,643,893 82.69 8.454 612 81.28 December 2008 1 307,043 0.13 7.505 572 75.00 October 2009 6 1,486,977 0.65 7.453 605 80.82 November 2009 20 4,481,544 1.96 8.357 623 79.72 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Gross Margin* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Gross Number of Aggregate Remaining Remaining W.A. Non-Zero Original Margin (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 5.000 - 5.499 8 1,759,627 0.77 9.702 606 86.81 5.500 - 5.999 34 6,975,372 3.06 9.341 608 85.90 6.000 - 6.499 1,020 198,037,723 86.81 8.401 616 81.93 6.500 - 6.999 76 17,619,335 7.72 8.696 574 73.37 7.000 - 7.499 17 3,745,677 1.64 9.399 564 70.50 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Maximum Mortgage Rate* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Maximum Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 12.000 - 12.499 8 2,094,954 0.92 6.297 634 71.93 12.500 - 12.999 45 10,904,420 4.78 6.795 649 78.71 13.000 - 13.499 94 21,413,179 9.39 7.289 631 79.35 13.500 - 13.999 206 45,001,939 19.73 7.783 625 79.00 14.000 - 14.499 198 40,271,098 17.65 8.278 617 81.07 14.500 - 14.999 242 44,805,648 19.64 8.750 609 82.10 15.000 - 15.499 154 27,965,526 12.26 9.230 598 83.43 15.500 - 15.999 129 23,283,581 10.21 9.733 578 84.09 16.000 - 16.499 43 7,050,369 3.09 10.233 593 85.43 16.500 - 16.999 22 3,740,268 1.64 10.715 565 83.38 17.000 - 17.499 8 1,133,488 0.50 11.218 544 78.69 17.500 - 17.999 4 280,794 0.12 11.656 537 72.63 18.000 - 18.499 1 134,970 0.06 12.435 523 45.00 18.500 - 18.999 1 57,500 0.03 12.600 644 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ---------------------------------------------------------------------------------------------------------------------------------- DESCRIPTION OF THE GROUP 1 COLLATERAL - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ Minimum Mortgage Rate* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Minimum Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 8 2,094,954 0.92 6.297 634 71.93 6.500 - 6.999 45 10,904,420 4.78 6.795 649 78.71 7.000 - 7.499 94 21,413,179 9.39 7.289 631 79.35 7.500 - 7.999 206 45,001,939 19.73 7.783 625 79.00 8.000 - 8.499 198 40,271,098 17.65 8.278 617 81.07 8.500 - 8.999 242 44,805,648 19.64 8.750 609 82.10 9.000 - 9.499 154 27,965,526 12.26 9.230 598 83.43 9.500 - 9.999 129 23,283,581 10.21 9.733 578 84.09 10.000 - 10.499 43 7,050,369 3.09 10.233 593 85.43 10.500 - 10.999 22 3,740,268 1.64 10.715 565 83.38 11.000 - 11.499 8 1,133,488 0.50 11.218 544 78.69 11.500 - 11.999 4 280,794 0.12 11.656 537 72.63 12.000 - 12.499 1 134,970 0.06 12.435 523 45.00 12.500 - 12.999 1 57,500 0.03 12.600 644 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Initial Periodic Rate Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Initial Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 1.000 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 1 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Subsequent Periodic Rate Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Subsequent Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 1.000 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Lifetime Periodic Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Lifetime Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,155 228,137,734 100.00 8.479 612 81.24 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Original Prepayment Charge Term - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Prepayment Penalty Number of Aggregate Remaining Remaining W.A. Non-Zero Original Term (mos.) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0 463 64,021,625 22.32 9.125 607 83.74 12 62 15,923,012 5.55 8.486 616 79.96 24 1,033 170,868,112 59.58 8.500 614 81.78 30 2 428,674 0.15 9.124 579 93.16 36 254 35,556,229 12.40 7.937 629 77.83 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,814 286,797,652 100.00 8.570 614 81.64 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 53
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ SUMMARY - GROUP 2 POOL* - ------------------------------------------------------------------------------------------------------------------------------------ Number of Mortgage Loans: 1,572 Index Type: Aggregate Principal Balance: $328,618,953 6 Month LIBOR: 79.95% Conforming Principal Balance Loans: $221,278,173 Fixed Rate: 20.05% Average Principal Balance: $209,045 W.A. Initial Periodic Cap**: 1.000% Range: $13,175 - $998,749 W.A. Subsequent Periodic Cap**: 1.000% W.A. Coupon: 8.560% W.A. Lifetime Rate Cap**: 6.000% Range: 6.030% - 13.150% Property Type: W.A. Gross Margin: 6.025% Single Family: 73.00% Range: 5.000% - 7.250% PUD: 15.23% W.A. Remaining Term (months): 332 2-4 Family: 4.34% Range (months): 175 - 358 Condo: 7.42% W.A. Seasoning (months): 3 Occupancy Status: Latest Maturity Date: December 1, 2036 Primary: 97.23% State Concentration (Top 5): Investment: 2.36% California: 63.52% Second Home: 0.41% Florida: 11.93% Documentation Status: Texas: 7.61% Full: 50.16% Arizona: 2.80% Stated: 48.89% Illinois: 2.70% Limited: 0.94% W.A. Original Combined LTV: 84.47% Non-Zero W.A. Prepayment Penalty - Term (months): 24 Range: 41.55% - 100.00% Loans with Prepay Penalties: 86.60% First Liens: 86.10% Interest Only Loans: 20.80% Second Liens: 13.90% Non-Zero W.A. Interest Only Term (months): 59 Non-Balloon Loans: 40.39% Non-Zero W.A. FICO Score: 641 - ------------------------------------------------------------------------------------------------------------------------------------ * Subject to a permitted variance of +/- 10% ** ARM loans only 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 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 54
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Originator - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Mortgage Remaining Remaining W.A. Non-Zero Original Originator Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ RESMAE 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Collateral Type - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Aggregate Remaining W.A. W.A. Initial Mortgage Remaining Principal W.A. Non-Zero Original Collateral Type Loans Principal Balance ($) Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Fixed - 15 Year 12 1,058,517 0.32 9.354 653 90.32 Fixed - 30 Year 69 14,428,336 4.39 7.988 647 79.91 Fixed - 30 Year IO 2 422,500 0.13 7.867 690 83.94 Balloon - 15/30 637 45,157,148 13.74 11.524 650 99.95 Balloon - 30/40 8 2,669,869 0.81 7.829 624 81.69 Balloon - 30/50 5 2,138,970 0.65 7.676 625 81.12 ARM - 6 Month 3 579,820 0.18 9.207 636 80.00 ARM - 2 Year/6 Month 213 46,873,944 14.26 8.430 633 82.32 ARM - 2 Year/6 Month IO 200 66,663,169 20.29 7.937 645 81.47 ARM - 2 Year/6 Month 30/40 Balloon 314 107,112,963 32.59 8.095 637 81.79 ARM - 2 Year/6 Month 30/50 Balloon 97 38,502,693 11.72 7.934 644 83.67 ARM - 3 Year/6 Month 6 1,423,354 0.43 8.412 617 82.46 ARM - 3 Year/6 Month IO 4 1,279,200 0.39 7.782 649 85.07 ARM - 3 Year/6 Month 30/40 Balloon 2 308,472 0.09 8.873 633 80.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ IO Terms - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. IO Terms (mos.) Number of Aggregate Remaining Remaining W.A. Non-Zero Original Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0 1,366 260,254,085 79.20 8.725 640 85.24 24 8 2,220,550 0.68 7.819 636 77.90 36 1 340,000 0.10 7.990 674 80.00 60 197 65,804,318 20.02 7.938 646 81.69 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 55
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Principal Balance at Origination - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Principal Balance at Initial Mortgage Remaining Remaining W.A. Non-Zero Original Origination ($) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 197 6,717,193 2.04 10.996 633 99.97 50,000.01 - 100,000.00 374 27,955,948 8.51 11.274 640 96.99 100,000.01 - 150,000.00 216 25,915,153 7.89 10.192 643 91.60 150,000.01 - 200,000.00 113 19,840,597 6.04 8.551 633 82.34 200,000.01 - 250,000.00 117 26,536,263 8.08 8.336 626 81.47 250,000.01 - 300,000.00 122 33,955,768 10.33 8.194 634 81.88 300,000.01 - 350,000.00 105 33,841,305 10.30 7.978 641 80.82 350,000.01 - 400,000.00 80 30,077,549 9.15 7.942 642 82.39 400,000.01 - 450,000.00 97 41,425,513 12.61 8.090 643 81.98 450,000.01 - 500,000.00 65 30,944,867 9.42 7.918 647 81.12 500,000.01 - 550,000.00 33 17,286,777 5.26 7.708 663 82.82 550,000.01 - 600,000.00 23 13,245,611 4.03 7.942 639 84.48 600,000.01 - 650,000.00 13 8,200,867 2.50 7.886 626 85.45 650,000.01 - 700,000.00 7 4,676,999 1.42 7.551 670 83.40 700,000.01 - 750,000.00 3 2,152,911 0.66 7.830 650 93.29 750,000.01 - 800,000.00 4 3,102,849 0.94 8.051 674 82.46 800,000.01 - 850,000.00 1 824,368 0.25 7.630 573 66.00 900,000.01 - 950,000.00 1 919,663 0.28 8.105 735 80.00 950,000.01 - 1,000,000.00 1 998,749 0.30 7.730 653 80.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 56
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Principal Balance - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Remaining Principal Initial Remaining Remaining W.A. Non-Zero Original Balance ($) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 197 6,717,193 2.04 10.996 633 99.97 50,000.01 - 100,000.00 374 27,955,948 8.51 11.274 640 96.99 100,000.01 - 150,000.00 216 25,915,153 7.89 10.192 643 91.60 150,000.01 - 200,000.00 113 19,840,597 6.04 8.551 633 82.34 200,000.01 - 250,000.00 117 26,536,263 8.08 8.336 626 81.47 250,000.01 - 300,000.00 122 33,955,768 10.33 8.194 634 81.88 300,000.01 - 350,000.00 105 33,841,305 10.30 7.978 641 80.82 350,000.01 - 400,000.00 80 30,077,549 9.15 7.942 642 82.39 400,000.01 - 450,000.00 97 41,425,513 12.61 8.090 643 81.98 450,000.01 - 500,000.00 65 30,944,867 9.42 7.918 647 81.12 500,000.01 - 550,000.00 33 17,286,777 5.26 7.708 663 82.82 550,000.01 - 600,000.00 23 13,245,611 4.03 7.942 639 84.48 600,000.01 - 650,000.00 13 8,200,867 2.50 7.886 626 85.45 650,000.01 - 700,000.00 7 4,676,999 1.42 7.551 670 83.40 700,000.01 - 750,000.00 3 2,152,911 0.66 7.830 650 93.29 750,000.01 - 800,000.00 4 3,102,849 0.94 8.051 674 82.46 800,000.01 - 850,000.00 1 824,368 0.25 7.630 573 66.00 900,000.01 - 950,000.00 1 919,663 0.28 8.105 735 80.00 950,000.01 - 1,000,000.00 1 998,749 0.30 7.730 653 80.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Term - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Months Remaining Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 121 - 180 649 46,215,665 14.06 11.474 650 99.73 301 - 360 923 282,403,288 85.94 8.083 639 81.97 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 57
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ----------------------------------------------------------------------------------------------------------------------------------- DESCRIPTION OF THE GROUP 2 COLLATERAL - ----------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ Mortgage Rate - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 12 5,292,068 1.61 6.322 665 78.47 6.500 - 6.999 61 24,807,513 7.55 6.843 661 81.14 7.000 - 7.499 120 40,813,060 12.42 7.271 653 80.34 7.500 - 7.999 208 67,828,193 20.64 7.748 641 81.63 8.000 - 8.499 182 55,602,322 16.92 8.235 643 82.07 8.500 - 8.999 189 51,057,933 15.54 8.715 631 82.90 9.000 - 9.499 81 19,486,631 5.93 9.205 626 82.31 9.500 - 9.999 163 16,670,132 5.07 9.694 603 88.98 10.000 - 10.499 50 6,818,156 2.07 10.229 651 92.30 10.500 - 10.999 39 3,998,066 1.22 10.632 647 97.65 11.000 - 11.499 92 8,444,655 2.57 11.145 688 99.68 11.500 - 11.999 146 11,721,114 3.57 11.743 646 99.75 12.000 - 12.499 139 10,059,096 3.06 12.276 625 99.24 12.500 - 12.999 88 5,980,684 1.82 12.656 605 100.00 13.000 - 13.499 2 39,331 0.01 13.103 588 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 58
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Original Combined Loan-to-Value Ratio - ------------------------------------------------------------------------------------------------------------------------------------ Original Combined Number of Aggregate % of Aggregate W.A. W.A. Loan-to-Value Initial Mortgage Remaining Remaining W.A. Non-Zero Original Ratio (%) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Less than or equal to 50.00 3 780,320 0.24 8.971 575 48.72 50.01 - 55.00 1 269,957 0.08 6.030 615 51.92 55.01 - 60.00 3 769,074 0.23 8.231 582 56.73 60.01 - 65.00 6 2,262,215 0.69 7.830 621 64.18 65.01 - 70.00 15 5,017,503 1.53 7.954 618 68.75 70.01 - 75.00 17 6,744,647 2.05 7.532 607 74.36 75.01 - 80.00 676 195,113,979 59.37 8.004 646 79.95 80.01 - 85.00 40 15,467,047 4.71 8.109 630 84.29 85.01 - 90.00 106 37,163,687 11.31 8.280 620 89.91 90.01 - 95.00 50 14,780,748 4.50 8.634 640 94.80 95.01 - 100.00 655 50,249,775 15.29 11.287 651 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 59
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ FICO Score at Origination - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. FICO Score Number of Aggregate Remaining Remaining W.A. Non-Zero Original At Origination Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 500 - 524 6 2,759,420 0.84 9.614 519 78.33 525 - 549 26 6,730,827 2.05 9.286 539 78.76 550 - 574 37 11,463,181 3.49 8.472 563 81.35 575 - 599 209 36,169,151 11.01 8.744 589 85.13 600 - 624 286 53,706,540 16.34 8.480 613 84.56 625 - 649 502 96,323,358 29.31 8.733 635 84.63 650 - 674 228 52,108,579 15.86 8.511 662 85.13 675 - 699 128 32,499,348 9.89 8.322 686 85.27 700 - 724 71 16,202,137 4.93 8.015 711 84.45 725 - 749 57 14,053,403 4.28 8.273 735 84.62 750 - 774 14 4,819,331 1.47 8.206 760 81.20 775 - 799 6 1,484,871 0.45 8.145 789 84.82 800 - 824 2 298,808 0.09 7.674 800 84.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 60
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Geographic Distribution* - ------------------------------------------------------------------------------------------------------------------------------------ Number of Aggregate % of Aggregate W.A. W.A. Initial Mortgage Remaining Remaining W.A. Non-Zero Original Location Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ California 808 208,729,665 63.52 8.403 646 84.43 Florida 200 39,188,046 11.93 8.787 638 84.08 Texas 254 25,006,787 7.61 8.656 622 83.89 Arizona 65 9,199,219 2.80 8.807 635 86.54 Illinois 42 8,887,201 2.70 9.100 631 83.62 New York 30 7,190,808 2.19 9.001 646 84.82 Georgia 25 4,939,825 1.50 8.849 657 84.34 Utah 22 3,302,461 1.00 8.952 640 84.68 Maryland 10 3,122,461 0.95 8.708 599 83.08 Nevada 11 2,374,699 0.72 8.677 621 86.76 Missouri 13 2,146,474 0.65 9.530 633 88.79 Louisiana 17 1,750,277 0.53 9.295 597 84.89 Tennessee 6 1,538,540 0.47 8.493 649 80.84 North Carolina 11 1,398,734 0.43 9.128 604 85.42 Hawaii 7 1,352,931 0.41 8.659 620 85.51 Virginia 5 1,290,859 0.39 8.878 625 87.41 Mississippi 6 1,005,922 0.31 10.045 569 91.78 New Mexico 8 925,698 0.28 9.850 629 84.00 Colorado 4 889,798 0.27 7.715 635 84.00 Minnesota 5 761,671 0.23 9.688 623 82.99 Connecticut 4 717,703 0.22 10.114 655 84.00 Pennsylvania 1 503,631 0.15 6.530 758 84.17 Alabama 4 434,276 0.13 8.395 652 91.14 New Jersey 2 421,092 0.13 8.175 628 84.00 Washington 1 403,455 0.12 9.560 583 95.00 Kansas 3 323,846 0.10 8.359 620 84.92 Michigan 4 322,697 0.10 9.269 623 86.91 South Carolina 2 238,217 0.07 8.300 598 83.98 Wisconsin 1 148,000 0.05 8.910 642 79.14 Oregon 1 103,960 0.03 9.030 584 80.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 61
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE GROUP 2 COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Occupancy Status - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Occupancy Status Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Primary 1,543 319,520,289 97.23 8.572 641 84.41 Investment 26 7,743,934 2.36 8.137 646 85.59 Second Home 3 1,354,730 0.41 8.074 650 92.37 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Documentation Type - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Program Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Full Documentation 803 164,840,658 50.16 8.164 632 84.28 Stated Documentation 754 160,674,027 48.89 8.963 650 84.70 Limited Documentation 15 3,104,268 0.94 8.773 646 82.61 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Loan Purpose - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Purpose Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Purchase 1,397 262,078,005 79.75 8.692 646 84.79 Refinance - Cashout 169 64,595,364 19.66 8.050 621 83.22 Refinance - Rate Term 6 1,945,584 0.59 7.805 669 82.25 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Property Type - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Number of Aggregate Remaining Remaining W.A. Non-Zero Original Property Type Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Single Family Residence 1,121 239,901,529 73.00 8.553 640 84.28 PUD 274 50,063,301 15.23 8.595 642 84.98 Condo 128 24,387,832 7.42 8.692 642 84.75 2-4 Family 49 14,266,292 4.34 8.329 644 85.32 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 62
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ---------------------------------------------------------------------------------------------------------------------------------- DESCRIPTION OF THE GROUP 2 COLLATERAL - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ Next Rate Adjustment Date* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Month & Year of Next Number of Aggregate Remaining Remaining W.A. Non-Zero Original Rate Adjustment Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ May 2007 3 579,820 0.22 9.207 636 80.00 July 2008 1 55,093 0.02 10.510 549 85.00 August 2008 2 427,738 0.16 9.616 582 82.97 September 2008 3 1,226,506 0.47 8.091 613 91.89 October 2008 119 34,519,715 13.14 8.253 634 81.01 November 2008 698 222,767,908 84.79 8.062 640 82.19 December 2008 1 155,809 0.06 8.460 698 80.00 October 2009 2 570,528 0.22 8.324 620 80.00 November 2009 10 2,440,497 0.93 8.160 635 84.09 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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 63
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ---------------------------------------------------------------------------------------------------------------------------------- DESCRIPTION OF THE GROUP 2 COLLATERAL - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ Gross Margin* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Gross Number of Aggregate Remaining Remaining W.A. Non-Zero Original Margin (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 5.000 - 5.499 2 403,736 0.15 9.470 599 87.13 5.500 - 5.999 4 1,230,928 0.47 9.039 592 66.10 6.000 - 6.499 819 256,700,681 97.70 8.073 641 82.17 6.500 - 6.999 10 3,233,242 1.23 8.603 576 83.69 7.000 - 7.499 4 1,175,027 0.45 9.929 556 75.96 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Maximum Mortgage Rate* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Maximum Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 12.000 - 12.499 12 5,292,068 2.01 6.322 665 78.47 12.500 - 12.999 53 21,319,980 8.11 6.859 658 81.62 13.000 - 13.499 107 36,675,234 13.96 7.271 654 80.43 13.500 - 13.999 192 64,060,204 24.38 7.747 641 81.80 14.000 - 14.499 169 52,974,777 20.16 8.232 643 82.10 14.500 - 14.999 167 46,535,297 17.71 8.714 631 83.00 15.000 - 15.499 74 18,712,526 7.12 9.201 626 82.04 15.500 - 15.999 38 11,724,330 4.46 9.683 596 85.70 16.000 - 16.499 18 3,739,790 1.42 10.212 593 85.95 16.500 - 16.999 6 1,171,682 0.45 10.596 585 92.32 17.000 - 17.499 1 148,598 0.06 11.260 547 85.00 17.500 - 17.999 1 161,685 0.06 11.535 526 85.00 18.000 - 18.499 1 227,442 0.09 12.050 539 70.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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 64
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------- DESCRIPTION OF THE GROUP 2 COLLATERAL - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ Minimum Mortgage Rate* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Minimum Number of Aggregate Remaining Remaining W.A. Non-Zero Original Mortgage Rate (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 12 5,292,068 2.01 6.322 665 78.47 6.500 - 6.999 53 21,319,980 8.11 6.859 658 81.62 7.000 - 7.499 107 36,675,234 13.96 7.271 654 80.43 7.500 - 7.999 192 64,060,204 24.38 7.747 641 81.80 8.000 - 8.499 169 52,974,777 20.16 8.232 643 82.10 8.500 - 8.999 167 46,535,297 17.71 8.714 631 83.00 9.000 - 9.499 74 18,712,526 7.12 9.201 626 82.04 9.500 - 9.999 38 11,724,330 4.46 9.683 596 85.70 10.000 - 10.499 18 3,739,790 1.42 10.212 593 85.95 10.500 - 10.999 6 1,171,682 0.45 10.596 585 92.32 11.000 - 11.499 1 148,598 0.06 11.260 547 85.00 11.500 - 11.999 1 161,685 0.06 11.535 526 85.00 12.000 - 12.499 1 227,442 0.09 12.050 539 70.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Initial Periodic Rate Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Initial Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 1.000 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only 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 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 65
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ - ---------------------------------------------------------------------------------------------------------------------------------- DESCRIPTION OF THE GROUP 2 COLLATERAL - ---------------------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------------------ Subsequent Periodic Rate Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Subsequent Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 1.000 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Lifetime Periodic Cap* - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Lifetime Number of Aggregate Remaining Remaining W.A. Non-Zero Original Periodic Cap (%) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 6.000 - 6.499 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 839 262,743,613 100.00 8.095 639 82.09 - ------------------------------------------------------------------------------------------------------------------------------------ *ARM Loans Only - ------------------------------------------------------------------------------------------------------------------------------------ Original Prepayment Charge Term - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate W.A. W.A. Prepayment Penalty Number of Aggregate Remaining Remaining W.A. Non-Zero Original Term (mos.) Initial Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0 220 44,019,863 13.40 9.125 641 84.67 12 109 30,085,265 9.16 8.749 643 83.50 24 1,124 234,874,167 71.47 8.470 640 84.76 30 2 385,513 0.12 8.641 623 87.23 36 117 19,254,145 5.86 8.074 645 81.94 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 1,572 328,618,953 100.00 8.560 641 84.47 - ------------------------------------------------------------------------------------------------------------------------------------ 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 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 66
- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. Duetsche Bank [LOGO] Home Equity Loan Trust, Series 2007-HE3 - ------------------------------------------------------------------------------------------------------------------------------------ FOR ADDITIONAL INFORMATION PLEASE CALL: --------------------------------------- ----------------------------------------------------------------------------------------- Deutsche Bank Securities ----------------------------------------------------------------------------------------- Whole Loan Trading ------------------ Michael Commaroto 212-250-3114 Paul Mangione 212-250-5786 ABS Banking ----------- Sue Valenti 212-250-3455 Karan Mehta 212-250-0869 ABS Structuring --------------- Bill Yeung 212-250-6893 Chris Sudol 212-250-0507 ABS Collateral -------------- Reta Chandra 212-250-2729 Jhoana Pajarillo 212-250-8387 ----------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- Standard & Poor's Rating Service ----------------------------------------------------------------------------------------- George Kimmel 212-438-1575 Michael Wray 212-438-3126 ----------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- Moody's Investors Service, Inc. ----------------------------------------------------------------------------------------- Jacob Krayn 212-553-1379 Karen Ramallo 212-553-0370 ----------------------------------------------------------------------------------------- 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 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 67