Filed pursuant to Rule 433(d) Registration Statement No. 333-141008 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. FREE WRITING PROSPECTUS Home Equity Loan Trust Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ 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. - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ $134,718,000 (Approximate) - ------------------------------------------------------------------------------------------------------------------------------------ Home Equity Loan Trust Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. (Depositor) ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL2 (Issuing Entity) - ------------------------------------------------------------------------------------------------------------------------------------ [LOGO] Deutsche Bank August 1, 2007 The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change.- ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ The analysis in this report is based on information provided by ACE Securities Corp. (the "Depositor"). Investors are urged to read the base prospectus and the prospectus supplement and other relevant documents filed or to be filed with the Securities and Exchange Commission because they contain important information. Such documents may be obtained without charge at the Securities and Exchange Commission's website. Once available, the base prospectus and prospectus supplement may be obtained without charge by contacting Deutsche Bank Securities, Inc.'s ("DBSI") trading desk at (212) 250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement (collectively, the "Prospectus"). The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted. You should consult your own counsel, accountant, and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. The attached information contains certain tables and other statistical analyses (the "Computational Materials") which have been prepared by DBSI in reliance upon information furnished by the Depositor. Numerous assumptions were used in preparing the Computational Materials that may or may not be reflected herein. As such, no assurance can be given as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfalls. The specific characteristics of the securities may differ from those shown in the Computational Materials by a permitted variance of +/- 10% prior to issuance. Neither DBSI nor any of its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or the payments or yield on the securities. An investor or potential investor in the certificates (and each employee, representative, or other agent of such person or entity) may disclose to any and all persons, without limitation, the tax treatment and tax structure of the transaction (as defined in United States Treasury Regulation Section 1.6011-4) and all related materials of any kind, including opinions or other tax analyses, that are provided to such person or entity. However, such person or entity may not disclose any other information relating to this transaction unless such information is related to such tax treatment and tax structure. THIS INFORMATION IS FURNISHED TO YOU SOLELY BY DBSI AND NOT BY THE ISSUING ENTITY OF THE SECURITIES OR ANY OF ITS AFFILIATES. DBSI IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUING ENTITY IN CONNECTION WITH THE PROPOSED TRANSACTION. The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 2 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ FREE WRITING PROSPECTUS DATED August 1, 2007 ACE Securities Corp. Home Equity Loan Trust, Series 2007-SL2 $134,718,000(Approximate) Subject to a permitted variance of +/- 10%. - ------------------------------------------------------------------------------------------------------------------------------------ Structure Overview - ------------------------------------------------------------------------------------------------------------------------------------ To 10% Optional Termination - ------------------------------------------------------------------------------------------------------------------------------------ Principal Payment Pmt Interest Legal Expected Approximate WAL Window Delay Accrual Final Ratings Class Size ($) Type (yrs) (months) (days) Basis Maturity S / M Offered Certificates: A-1 134,718,000 Float 2.42 1 - 104 0 ACT/360 May 2037 AAA / Aaa Total Offered 134,718,000 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 3 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview - ------------------------------------------------------------------------------------------------------------------------------------ Certificates: The Class A-1 Certificates (the "Senior Certificates" or "Offered Certificates"). The pass-through rate on the Senior Certificates will be the lesser of (i) One-Month LIBOR plus a specified margin and (ii) the applicable Net WAC Pass-Through Rate. The trust will also issue the Class CE-1 Certificates, Class CE-2 Certificates, the Class P Certificates, and the Class R Certificates which are referred to herein as the "Non-offered Certificates". Collateral: As of the Cut-off Date, the Mortgage Loans will consist of approximately 3,363 fixed-rate second lien, closed-end, mortgage loans. The aggregate outstanding principal balance of all of the Mortgage Loans is approximately $196,525,112 as of the Cut-off Date. Senior Certificates or Offered Class A-1 Certificates Certificates: Depositor: ACE Securities Corp. Originators: % of Aggregate Aggregate Remaining Remaining Principal Originator Principal Balance ($) Balance db home lending llc 54,290,134 27.63 Home123 Corporation 39,259,417 19.98 GMAC Mortgage LLC 33,044,012 16.81 M&T Bank 23,223,527 11.82 Other 46,708,021 23.77 ----------------------------------------------------------------------------------------------- Total 196,525,112 100.00 Master Servicer and Wells Fargo Bank, National Association Securities Administrator: Servicers: GMAC Mortgage, LLC ("GMAC"), with respect to approximately 65.80% of the aggregate principal balance as of the cut-off date and Ocwen Loan Servicing, LLC ("Ocwen") with respect to approximately 34.20% of the aggregate principal balance as of the cut-off date. Trustee: HSBC Bank USA, National Association Custodians: Wells Fargo Bank, National Association and Deutsche Bank National Trust Company Credit Risk Manager: Clayton Fixed Income Services Inc. Underwriter: Deutsche Bank Securities Inc. Cap Provider: TBD Swap Provider: TBD Certificate Insurer: Assured Guaranty Corp. Cut-off Date: July 1, 2007 Expected Pricing: Week of July 30, 2007 Expected Closing Date: On or about August 10, 2007 Record Date: For so long as the Offered Certificates are held in book-entry form, the Record Date will be the business day immediately preceding the related Distribution Date, With respect to any Offered Certificates held in definitive form, the Record Date will be the last business day of the month immediately preceding the month in which the related Distribution Date occurs. Distribution Date: 25th day of each month (or the next business day if such day is not a business day) commencing in August 2007. - ------------------------------------------------------------------------------------------------------------------------------------- The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 4 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Determination Date: With respect to any Distribution Date, the 15th day of the calendar month in which such Distribution Date occurs or, if such 15th day is not a business day, the business day immediately preceding such 15th day. Due Period: The Due Period with respect to any Distribution Date commences on the second day of the month immediately preceding the month in which such Distribution Date occurs and ends on the first day of the month in which such Distribution Date occurs. Prepayment Period: With respect to any Distribution Date and the Mortgage Loans serviced by (i) GMAC, the period beginning on the sixteenth (16th) day of the month preceding the related Distribution Date (or, in the case of the first Distribution Date, the Cut-off Date) and ending on the fifteenth (15th) day of the month in which such Distribution Date occurs and (ii) Ocwen, with respect to prepayments in full, the period beginning on the sixteenth (16th) day of the month preceding the related Distribution Date (or, in the case of the first Distribution Date, the Cut-off Date) and ending on the fifteenth (15th) day of the month of such Distribution Date, and (ii) with respect to prepayments in part, the prior calendar month. Interest Accrual Period: Interest will initially accrue on the Offered Certificates from the Closing Date to (but excluding) the first Distribution Date, and thereafter, from the prior Distribution Date to (but excluding) the current Distribution Date on an actual/360 basis. The Offered Certificates will initially settle flat (no accrued interest). Interest Distribution For the Offered Certificates on any Distribution Date is equal to interest accrued during the Amount: related Interest Accrual Period on the Certificate Principal Balance thereof immediately prior to such Distribution Date at the then applicable pass-through rate for the Offered Certificates, and reduced (to an amount not less than zero), in the case of each such class, by the allocable share, if any, for the Offered Certificates of prepayment interest shortfalls to the extent not covered by Compensating Interest paid by the Master Servicer or the Servicers and shortfalls resulting from the application of the Servicemembers' Civil Relief Act or similar state or local laws. Senior Interest For the Offered Certificates on any Distribution Date is an amount equal to the sum of the Distribution Amount: Interest Distribution Amount for such Distribution Date and the Interest Carry Forward Amount, if any, for such Distribution Date. Administration Fee Rate: The Master Servicer, the Servicers and the Credit Risk Manager will be paid monthly fees on the outstanding principal balance of the Mortgage Loans. These fees ("Administration Fee Rate") initially aggregate to a weighted average servicing fee of approximately 0.5835% per annum with respect to the Mortgage Loans. Compensating Interest: Each Servicer will be required to cover Prepayment Interest Shortfalls on prepayments in full on the Mortgage Loans serviced by such Servicer received during the portion of the related Prepayment Period occurring between the 16th day of the month prior to the month of the Distribution Date to the last day of such prior month up to the Servicing Fee payable to the related Servicer. If a Servicer fails to make such payments, the Master Servicer will be required to do so in an amount not to exceed the compensation payable to the Master Servicer. Prepayment Interest Interest shortfalls attributable to voluntary principal prepayments on the Mortgage Shortfalls: Loans. Expense Adjusted For any Mortgage Loan for any Distribution Date shall be a per annum rate equal to the Mortgage Rate: applicable Mortgage Rate for such Mortgage Loan as of the first day of the month preceding the month in which such Distribution Date occurs minus the Administration Fee Rate. - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 5 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Optional Termination: On any Distribution Date on which the aggregate outstanding principal balance of the Mortgage Loans as of the related Determination Date is less than or equal to 10% of the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date, the Master Servicer may purchase all of the Mortgage Loans and REO properties remaining in the trust, causing an early retirement of the Certificates, but is not required to do so. In the event that the Master Servicer fails to exercise such purchase option on the first possible optional termination date, each Servicer may, subject to certain conditions set forth in the pooling and servicing agreement, exercise such purchase option. In the event either the Master Servicer or a Servicer exercises this option, the portion of the purchase price allocable to the Offered Certificates will be, to the extent of available funds, (i) 100% of the then outstanding Certificate Principal Balance of the Offered Certificates, plus (ii) one month's interest on the then outstanding Certificate Principal Balance thereof at the then applicable pass-through rate, plus (iii) any previously accrued but unpaid interest thereon to which the holders of the Offered Certificates are entitled, together with the amount of any Net WAC Rate Carryover Amounts. Monthly Servicer Advances: The Servicers will collect monthly payments of principal and interest on the related Mortgage Loans and will be obligated to make advances of delinquent monthly principal and interest payments but only to the extent such amounts are deemed recoverable. If a Servicer fails to make any such advances, the Master Servicer will be required to do so subject to its determination of recoverability. The Servicers and the Master Servicer are entitled to be reimbursed for these advances, and therefore these advances are not a form of credit enhancement. Credit Enhancement: 1) Excess Interest; 2) Overcollateralization ("OC"); and 3) The Class A-1 Certificate Insurance Policy. - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 6 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Allocation of Losses: Any Realized Losses on the Mortgage Loans will be allocated on any Distribution Date, first, to Net Monthly Excess Cashflow and Net Swap Payments made by the Swap Provider, if any, second, to the Class CE-1 Certificate and third, to the Class A-1 Certificates. Once Realized Losses have been allocated to the Class A-1 Certificates, such amounts with respect to the Class A-1 Certificates will no longer accrue interest and such amounts will not be reinstated thereafter (except in the case of subsequent recoveries). However, the amount of any Realized Losses allocated to the Class A-1 Certificates may be distributed to the Class A-1 Certificates on a subordinated basis on any Distribution Date from Net Monthly Excess Cashflow, to the extent available for such distribution or from any Net Swap Payments payable by the Swap Provider available for this purpose. Realized Losses on the Mortgage Loans will be allocated to the Class A-1 Certificates, provided, however, that any such losses allocated to the Class A-1 Certificates will be covered by the Policy. A "Realized Loss" for a Liquidated Mortgage Loan is equal to the principal balance of such Liquidated Mortgage Loan plus interest thereon from the date on which interest was last paid less any liquidation proceeds received on such Mortgage Loan and for a Charged Off Mortgage Loan is equal to the principal balance of such Charged Off Mortgage Loan plus interest thereon from the date on which interest was last paid. A "Liquidated Mortgage Loan" is a Mortgage Loan that was liquidated and for which the related Servicer has determined that it has received all amounts it expects to receive in connection with such liquidation, including payments under any related private mortgage insurance policy, hazard insurance policy or any condemnation proceeds and amounts received in connection with the final disposition of the related REO property. A "Charged Off Mortgage Loan" is a defaulted Mortgage Loan that the related Servicer is required to charge off once such Mortgage Loan becomes 180 days delinquent provided that such Mortgage Loan has not yet been liquidated and provided further, that the related Servicer has determined, based on a broker's price opinion and other relevant considerations, that no significant net recovery is possible through foreclosure proceedings or other liquidation of the related mortgaged property or that the potential net recovery is anticipated to be an amount that is insufficient to warrant proceeding through foreclosure or other liquidation of the related mortgaged property. - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 7 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Required Overcollateralization refers to the amount by which the aggregate principal balance of the Mortgage Overcollateralization Loans exceeds the aggregate Certificate Principal Balance of the Offered Certificates and the Class Amount: P Certificates. This excess (the "Overcollateralization Amount") is intended to protect the Offered Certificates against shortfalls in payments on the Certificates. The Required Overcollateralization Amount for the Offered Certificates, which will be fully established at issuance, is initially anticipated to be an amount equal to the product of (i) approximately 31.45% and (ii) 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 62.90% of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period, subject to a floor amount of approximately 0.50% of the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date. If, due to losses, the Overcollateralization Amount is reduced below the Required Overcollateralization Amount, excess spread, to the extent available will be paid to the Class A-1 Certificates in respect of principal in order to reduce the Certificate Principal Balance of the Class A-1 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 following the Distribution Date on which the Certificate Principal Balance of the Class A-1 Certificates is reduced to zero and (ii) the later to occur of (x) the Distribution Date occurring in August 2010 and (y) the first Distribution Date on which the Class A-1 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 Class A-1 Certificates) is equal to or greater than approximately 62.90%. - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 8 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Class A-1 Credit The Credit Enhancement Percentage for the Class A-1 Certificates and any Distribution Date is the Enhancement percentage obtained by dividing (x) the Overcollateralization Amount by (y) the aggregate principal Percentage: balance of the Mortgage Loans, calculated after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period and distribution of the Principal Distribution Amount to the holders of the Class A-1 Certificates on the Distribution Date. Class (S/M) Initial CE % CE % On/After Step Down Date ----- ----- ------------ ---------------------------- A-1 AAA / Aaa 31.45% 62.90% Net Monthly Excess For any Distribution Date is equal to the sum of (i) any Overcollateralization Reduction Amount and Cashflow: (ii) the excess of the Available Distribution Amount over the sum of (w) the Senior Interest Distribution Amount for such Distribution Date, (x) the amount of principal required to be distributed to the holders of the Class A-1 Certificates on such Distribution Date, (y) any Net Swap Payment or Swap Termination Payment (not caused by a Swap Provider Trigger Event (as defined in the Swap Agreement)), owed to the Swap Provider and (z) any amount required to be paid to the Certificate Insurer on such Distribution Date. Net WAC Pass- The per annum rate (subject to adjustment based on the actual number of days elapsed in the related Through Rate: 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 prior calendar month minus the fees payable to the Servicers, the Master Servicer and the Credit Risk Manager with respect to the related Mortgage Loans for such Distribution Date and the premium payable to the Certificate Insurer, over (b) 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 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. Net WAC Rate If on any Distribution Date the Pass-Through Rate for the Class A-1 Certificates is limited by the Carryover Amount: Net WAC Pass-Through Rate, the Class A-1 Certificates will be entitled to the "Net WAC Rate Carryover Amount" which will be equal to the sum of (i) the excess, if any of (a) the amount of interest that would have accrued on such class based on One-Month LIBOR plus the related margin over (b) the amount of interest accrued on such class based on the Net WAC Pass-Through Rate and (ii) the unpaid portion of any related Net WAC Rate Carryover Amount from the prior Distribution Date together with interest accrued on such unpaid portion at a rate equal to One-Month LIBOR plus the related margin for the most recently ended Interest Accrual Period. Any Net WAC Rate Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the extent of funds available. The Net WAC Rate Carryover Amount will be distributed from certain amounts received by the Securities Administrator, on behalf of the supplemental interest trust (described below), under the Swap Agreement, if any, the Cap Agreement, if any, and from the Net Monthly Excess Cashflow on the same Distribution Date or on any subsequent Distribution Date to the extent of available funds. The ratings on the Offered 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 depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 9 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Cap Agreement: On the Closing Date, the Trustee will enter into a "Cap Agreement", which will be effective for the period commencing on the Distribution Date occurring in August 2007 and ending immediately following the Distribution Date occurring in January 2008, to make payments in respect of any Net WAC Rate Carryover Amounts in respect of the Class A-1 Certificates as described herein. The 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 cap notional amount, which is based on the lesser of (i) the expected amortization of the Mortgage Loans and (ii) Scheduled Cap Notional Amount for the related Distribution Date 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 Scheduled Cap Notional Amount for each Distribution Date during the term of the Cap Agreement is set forth on page 14 of this free writing prospectus. Swap Agreement: On the Closing Date, the Trustee in its capacity as supplemental interest trust trustee will enter into a Swap Agreement with the Swap Provider described in the prospectus supplement. The Swap Agreement will have an initial notional amount of $[111,384,708]. Beginning with the Distribution Date in February 2008, the trust (through a supplemental interest trust) will be obligated to pay an amount equal to the product of (i) [5.33]% per annum, (ii) the Swap Notional Amount (as defined below) and (iii) a fraction, the numerator of which is 30 and the denominator of which is 360, and the Swap Provider will be obligated to pay to the supplemental interest trust, for the benefit of the holders of the Offered Certificates, an amount equal to the product of (i) one-month LIBOR, (ii) the Swap Notional Amount and (iii) a fraction, the numerator of which is the actual number of days elapsed during the related Interest Accrual Period and the denominator of which is 360, until the Swap Agreement is terminated. The "Swap Notional Amount" for each Distribution Date will be equal to the lesser of (a) the aggregate Certificate Principal Balance of the Offered Certificates on the day immediately preceding such Distribution Date, and (b) the scheduled swap notional amount set forth in the Swap Agreement for such Distribution Date. Only the net amount of the two obligations will be paid by the appropriate party (the "Net Swap Payment"). See the attached schedule. A separate trust created under the pooling and servicing agreement (the "Supplemental Interest Trust") will hold the Swap Agreement. The Swap Agreement and any payments made by the Swap Provider thereunder will be assets of the Supplemental Interest Trust but will not be assets of any REMIC. Upon early termination of the Swap Agreement, the Securities Administrator on behalf of the Supplemental Interest Trust or the Swap Provider may be liable to make a termination payment (the "Swap Termination Payment") to the other party (regardless of which party caused the termination). The Swap Termination Payment will be computed in accordance with the procedures set forth in the Swap Agreement. In the event that the Securities Administrator, on behalf of the Supplemental Interest Trust, is required to make a Swap Termination Payment which is not payable as a result of the occurrence of a swap provider trigger event under the Swap Agreement, that payment will be paid on the related Distribution Date, and on any subsequent Distribution Dates until paid in full prior to distributions to Certificateholders. - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 10 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ The Class A-1 It is anticipated that the Class A-1 Certificates will have the benefit of a certificate guaranty Certificate insurance policy (the "Policy") pursuant to which the Certificate Insurer, in consideration of the Insurance Policy: payment of a premium and subject to the terms of the Policy, unconditionally and irrevocably will guarantee the timely payment of interest (other than certain interest shortfalls specified in the Policy) and the ultimate payment of principal on the Class A-1 Certificates on the final Distribution Date. In addition, the Certificate Insurer will guarantee the payment of the principal portion of any Realized Losses allocated to the Class A-1 Certificates. The Policy will not be cancelable for any reason. The Policy will not cover any interest shortfalls resulting from prepayments or applications of the Servicemembers Civil Relief Act or similar state or local laws. Subject to the terms of the pooling and servicing agreement, the Certificate Insurer will be subrogated to the rights of the Class A-1 Certificateholders to receive payments under the Class A-1 Certificates to the extent of any payment by the Certificate Insurer under the Policy. Class A Principal Distribution Amount: Until the Stepdown Date, or if a Trigger Event occurs, the Class A-1 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-1 Certificates has been reduced to zero. On or after the Stepdown Date, if no Trigger Event occurs, principal paid on the Class A-1 Certificates will be an amount such that the Class A-1 Certificates will maintain approximately a 62.90% Credit Enhancement Percentage (2x the Class A-1 Credit Enhancement Percentage). Coupon Step-up: On the Distribution Date following the first possible optional termination date, the margin on the Class A-1 Certificates will increase to the following, subject to the Net WAC Pass-Through Rate. Class After Optional Termination ----- -------------------------- A-1 Certificates 2 x Margin 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 12.90%. 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 ------------------------------ ---------- August 2009 to July 2010 10.05%, plus 1/12th of 4.95% for each month thereafter August 2010 to July 2011 15.00%, plus 1/12th of 5.00% for each month thereafter August 2011 to July 2012 20.00%, plus 1/12th of 3.75% for each month thereafter August 2012 to July 2013 23.75%, plus 1/12th of 1.25% for each month thereafter August 2013 and thereafter 25.00% - ------------------------------------------------------------------------------------------------------------------------------------ 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 depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 11 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Payment Priority: I. On each Distribution Date, the Available Distribution Amount will be distributed as follows: 1. To the Supplemental Interest Trust, to pay any Net Swap Payment or Swap Termination Payment (not caused by a Swap Provider Trigger Event (as defined in the Swap Agreement)) owed to the Swap Provider. 2. To the Certificate Insurer, the premium payable to the Certificate Insurer for the Policy; 3. To pay interest to the Class A-1 Certificates, including any accrued unpaid interest from a prior Distribution Date. 4. To the Certificate Insurer, any amounts paid under the Policy to the extent not previously reimbursed, together with interest thereon, if applicable, plus any amounts owing to the Certificate Insurer pursuant to the Insurance Agreement, to the extent not previously reimbursed, together with interest thereon, if applicable. 5. To pay principal to the Class A-1 Certificates in accordance with the principal payment provisions described above under "Class A Principal Distribution Amount". 6. To the Certificate Insurer, any unpaid premium amounts under the Policy to the extent not previously reimbursed. 7. From excess interest and any Overcollateralization Reduction Amount, if any, to the Class A-1 Certificates in order to reduce the Certificate Principal Balance of the Class A-1 Certificates to the extent necessary to restore or maintain the Required Overcollateralization Amount. 8. From excess interest and any Overcollateralization Reduction Amount, if any, to pay the allocated Realized Losses on the Class A-1 Certificates. 9. From excess interest and any Overcollateralization Reduction Amount, if any, to pay any Net WAC Rate Carryover Amounts on the Class A-1 Certificates. 10. From excess interest and any Overcollateralization Reduction Amount, if any, to pay any Swap Termination Payment (caused by a Swap Provider Trigger Event) owed to the Swap Provider. 11. To pay any remaining amount to the Non-Offered Certificates in accordance with the provisions of the Pooling and Servicing Agreement. II. Commencing on the Distribution Date in February 2008, any Net Swap Payments on deposit to the Supplemental Interest Trust will be paid after the distribution of the Available Distribution Amount as follows: 1. To the Supplemental Interest Trust, to pay any Net Swap Payment or the Swap Termination Payment (not caused by a Swap Provider Trigger Event (as defined in the Swap Agreement)) owed to the Swap Provider. 2. To pay any unpaid interest on the Class A-1 Certificates including any accrued unpaid interest from a prior Distribution Date. 3. To pay any principal to the Class A-1 Certificates in an amount necessary to restore or maintain the Required Overcollateralization Amount.* 4. To pay any unreimbursed allocated Realized Losses on the Class A-1 Certificates that have not been paid by the Certificate Insurer.* 5. To reimburse the Certificate Insurer for any interest payments under the Policy, together with interest thereon. 6. To pay any Net WAC Rate Carryover Amounts on the Class A-1 Certificates remaining unpaid. 7. To pay any Swap Termination Payment (caused by a Swap Provider Trigger Event under the Swap Agreement) owed to the Swap Provider. 8. To pay any remaining amount to the Class CE-1 Certificates. * Notwithstanding the foregoing, the cumulative amount paid pursuant to clauses 3 and 4 shall at no time be permitted to exceed the cumulative amount of Realized Losses incurred on the Mortgage Loans from and after the Cut-Off Date. - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 12 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Transaction Overview (Cont.) - ------------------------------------------------------------------------------------------------------------------------------------ Payment-Priority Commencing on the Distribution Date in February 2008, amounts payable by the Supplemental Interest (continued): Trust to the Securities Administrator in respect of Net Swap Payments and Swap Termination Payments other than Swap Termination Payments resulting from a Swap Provider Trigger Event (and to the extent not paid by the Securities Administrator from any upfront payment received pursuant to any replacement interest rate swap agreement that may be entered into by the Supplemental Interest Trust Trustee) will be deducted from related available funds before distributions to the holders of the Offered Certificates. On or before each Distribution Date commencing on the Distribution Date occurring in February 2008, such amounts will be distributed by the Supplemental Interest Trust to the Securities Administrator, and paid by the Securities Administrator to the Swap Provider as follows: (i) first, to make any Net Swap Payment owed to the Swap Provider pursuant to the Swap Agreement for such Distribution Date, and (ii) second, to make any Swap Termination Payment not due to a Swap Provider Trigger Event owed to the Swap Provider pursuant to the Swap Agreement (to the extent not paid by the Securities Administrator from any upfront payment received pursuant to any replacement interest rate swap agreement that may be entered into by the Securities Administrator). ERISA: It is expected that the Offered Certificates may be purchased by, or with the assets of, employee benefit plans subject to the Employee Retirement Income Security Act of 1974, as amended ("ERISA") or plans or arrangements subject to section 4975 of the Internal Revenue Code (each, a "Plan"). Prior to the termination of the Supplemental Interest Trust, Plans or persons using assets of a Plan may purchase the Offered Certificates if the purchase and holding meets the requirements of an investor-based class exemption issued by the Department of Labor. Investors should consult with their counsel with respect to the consequences under ERISA and the Internal Revenue Code of a Plan's acquisition and ownership of such Offered Certificates. Taxation - REMIC: One or more REMIC elections will be made for designated portions of the Trust (exclusive of certain shortfall payments or payments from the Supplemental Interest Trust or the obligation to make payments to the Supplemental Interest Trust pursuant to the Swap Agreement). Form of Registration: Book-entry form through DTC, Clearstream and Euroclear. Minimum Denominations: $25,000 and integral multiples of $1 in excess thereof. - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 13 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ Cap Schedule ------------------------------------------------------------------------- Distribution Date Cap Notional Amount ($) Strike Rate (%) ------------------------------------------------------------------------- 8/25/2007 196,525,112.00 7.50 9/25/2007 193,829,797.00 7.50 10/25/2007 190,845,377.00 7.50 11/25/2007 187,584,026.00 7.50 12/25/2007 184,055,490.00 7.50 1/25/2008 180,274,308.00 7.50 ------------------------------------------------------------------------- Swap Schedule ------------------------------------------------------------------------------------------------------ Distribution Date Notional Schedule ($) Distribution Date Notional Schedule ($) ------------------------------------------------------------------------------------------------------ 8/25/2007 - 3/25/2010 35,962,102 9/25/2007 - 4/25/2010 33,725,655 10/25/2007 - 5/25/2010 31,538,059 11/25/2007 - 6/25/2010 29,398,253 12/25/2007 - 7/25/2010 27,305,199 1/25/2008 - 8/25/2010 25,257,881 2/25/2008 111,384,708 9/25/2010 25,257,881 3/25/2008 107,507,856 10/25/2010 25,257,881 4/25/2008 103,711,123 11/25/2010 25,257,881 5/25/2008 99,997,097 12/25/2010 25,257,881 6/25/2008 96,363,983 1/25/2011 25,257,881 7/25/2008 92,810,026 2/25/2011 25,257,881 8/25/2008 89,333,511 3/25/2011 25,257,881 9/25/2008 85,932,757 4/25/2011 25,257,881 10/25/2008 82,606,121 5/25/2011 24,906,596 11/25/2008 79,351,997 6/25/2011 24,355,152 12/25/2008 76,168,810 7/25/2011 23,815,775 1/25/2009 73,055,022 8/25/2011 23,288,205 2/25/2009 70,009,128 9/25/2011 22,772,183 3/25/2009 67,029,654 10/25/2011 22,267,443 4/25/2009 64,115,160 11/25/2011 21,773,566 5/25/2009 61,264,235 12/25/2011 21,290,490 6/25/2009 58,475,500 1/25/2012 20,817,999 7/25/2009 55,747,605 2/25/2012 20,355,862 8/25/2009 53,079,230 3/25/2012 19,903,853 9/25/2009 50,469,084 4/25/2012 19,461,751 10/25/2009 47,915,902 5/25/2012 19,029,341 11/25/2009 45,418,448 6/25/2012 18,606,414 12/25/2009 42,975,511 7/25/2012 18,192,762 1/25/2010 40,585,909 8/25/2012 - 2/25/2010 38,248,484 ------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 14 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ Sensitivity Table To 10% Call ------------------------------------------------------------------------------------------------------- 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC ------------------------------------------------------------------------------------------------------- A-1 Avg Life (years) 14.09 4.38 2.42 1.71 1.11 First Payment Date Aug-07 Aug-07 Aug-07 Aug-07 Aug-07 Last Payment Date Feb-32 Feb-22 Mar-16 Apr-14 Mar-10 ------------------------------------------------------------------------------------------------------- Sensitivity Table To Maturity ------------------------------------------------------------------------------------------------------- 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC ------------------------------------------------------------------------------------------------------- A-1 Avg Life (years) 14.25 4.46 2.58 1.86 1.11 First Payment Date Aug-07 Aug-07 Aug-07 Aug-07 Aug-07 Last Payment Date Feb-37 Dec-30 Sep-22 Feb-22 Mar-10 ------------------------------------------------------------------------------------------------------- The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 15 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------ --------------------------------------- --------------------------------------------- Class A-1 Effective Net WAC Class A-1 Effective Net WAC Class A-1 Effective Net WAC Schedule* Schedule* Schedule* Effective Net Effective Net Effective Net Period Date WAC (%) Period Date WAC (%) Period Date WAC (%) - ------------------------------------------ --------------------------------------- --------------------------------------------- 1 8/25/2007 33.054 38 9/25/2010 14.298 75 10/25/2013 10.385 2 9/25/2007 22.447 39 10/25/2010 14.677 76 11/25/2013 10.050 3 10/25/2007 22.780 40 11/25/2010 14.488 77 12/25/2013 10.385 4 11/25/2007 22.450 41 12/25/2010 14.868 78 1/25/2014 10.050 5 12/25/2007 22.784 42 1/25/2011 14.686 79 2/25/2014 10.050 6 1/25/2008 22.455 43 2/25/2011 14.788 80 3/25/2014 11.127 7 2/25/2008 19.329 44 3/25/2011 15.789 81 4/25/2014 10.050 8 3/25/2008 19.674 45 4/25/2011 15.003 82 5/25/2014 10.385 9 4/25/2008 19.085 46 5/25/2011 15.321 83 6/25/2014 10.051 10 5/25/2008 19.186 47 6/25/2011 15.044 84 7/25/2014 10.386 11 6/25/2008 18.829 48 7/25/2011 15.322 85 8/25/2014 10.051 12 7/25/2008 18.928 49 8/25/2011 15.045 86 9/25/2014 10.051 13 8/25/2008 18.561 50 9/25/2011 15.045 87 10/25/2014 10.386 14 9/25/2008 18.423 51 10/25/2011 15.322 88 11/25/2014 10.051 15 10/25/2008 18.518 52 11/25/2011 15.045 89 12/25/2014 10.386 16 11/25/2008 18.136 53 12/25/2011 15.322 90 1/25/2015 10.051 17 12/25/2008 18.228 54 1/25/2012 15.045 91 2/25/2015 10.052 18 1/25/2009 17.837 55 2/25/2012 15.045 92 3/25/2015 11.129 19 2/25/2009 17.682 56 3/25/2012 15.618 93 4/25/2015 10.052 20 3/25/2009 18.314 57 4/25/2012 15.045 94 5/25/2015 10.387 21 4/25/2009 17.362 58 5/25/2012 15.323 95 6/25/2015 10.052 22 5/25/2009 17.446 59 6/25/2012 15.046 96 7/25/2015 10.387 23 6/25/2009 17.027 60 7/25/2012 15.323 97 8/25/2015 10.052 24 7/25/2009 17.108 61 8/25/2012 10.048 98 9/25/2015 10.053 25 8/25/2009 16.676 62 9/25/2012 10.048 99 10/25/2015 10.388 26 9/25/2009 16.495 63 10/25/2012 10.383 100 11/25/2015 10.053 27 10/25/2009 16.571 64 11/25/2012 10.048 101 12/25/2015 10.388 28 11/25/2009 16.120 65 12/25/2012 10.383 102 1/25/2016 10.053 29 12/25/2009 16.192 66 1/25/2013 10.048 103 2/25/2016 10.053 30 1/25/2010 15.728 67 2/25/2013 10.049 104 3/25/2016 10.747 31 2/25/2010 15.525 68 3/25/2013 11.125 ------------------------------------------ 32 3/25/2010 16.197 69 4/25/2013 10.049 *PPC: 100% 33 4/25/2010 15.105 70 5/25/2013 10.384 *1 Month LIBOR: 20% 34 5/25/2010 15.167 71 6/25/2013 10.049 *Includes Net Swap Payments received from the 35 6/25/2010 14.666 72 7/25/2013 10.384 Swap Provider 36 7/25/2010 14.724 73 8/25/2013 10.049 *Includes Cap proceeds 37 8/25/2010 14.207 74 9/25/2013 10.049 The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 16 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ 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 bp bp 1 Month bp (Static Forward (Forward (Static Forward (Forward Period LIBOR) LIBOR (%) LIBOR) Period LIBOR) LIBOR (%) LIBOR) ----------------------------------------------------------------------------------------------------------- 1 833 5.3200 833 53 828 5.4895 827 ----------------------------------------------------------------------------------------------------------- 2 629 5.3385 627 54 826 5.4975 826 ----------------------------------------------------------------------------------------------------------- 3 645 5.3470 643 55 826 5.5043 826 ----------------------------------------------------------------------------------------------------------- 4 635 5.2304 642 56 829 5.5128 828 ----------------------------------------------------------------------------------------------------------- 5 652 5.2016 660 57 827 5.5199 826 ----------------------------------------------------------------------------------------------------------- 6 644 5.1720 654 58 828 5.5287 827 ----------------------------------------------------------------------------------------------------------- 7 659 5.0434 659 59 827 5.5353 826 ----------------------------------------------------------------------------------------------------------- 8 666 5.0394 666 60 828 5.5416 827 ----------------------------------------------------------------------------------------------------------- 9 668 5.0008 669 61 821 5.5857 811 ----------------------------------------------------------------------------------------------------------- 10 674 4.9299 675 62 821 5.5919 811 ----------------------------------------------------------------------------------------------------------- 11 678 4.9211 679 63 828 5.5989 818 ----------------------------------------------------------------------------------------------------------- 12 685 4.9037 686 64 821 5.6059 810 ----------------------------------------------------------------------------------------------------------- 13 689 4.9852 690 65 828 5.6126 817 ----------------------------------------------------------------------------------------------------------- 14 694 4.9663 695 66 821 5.6199 809 ----------------------------------------------------------------------------------------------------------- 15 701 4.9469 702 67 821 5.6239 809 ----------------------------------------------------------------------------------------------------------- 16 705 4.9263 706 68 842 5.6310 831 ----------------------------------------------------------------------------------------------------------- 17 712 4.9079 713 69 821 5.6359 809 ----------------------------------------------------------------------------------------------------------- 18 717 4.8883 718 70 828 5.6424 816 ----------------------------------------------------------------------------------------------------------- 19 723 4.8688 724 71 821 5.6469 808 ----------------------------------------------------------------------------------------------------------- 20 733 4.8515 734 72 828 5.6524 816 ----------------------------------------------------------------------------------------------------------- 21 736 4.8324 737 73 821 5.6588 808 ----------------------------------------------------------------------------------------------------------- 22 743 4.8128 745 74 821 5.6628 808 ----------------------------------------------------------------------------------------------------------- 23 749 4.7952 750 75 828 5.6687 815 ----------------------------------------------------------------------------------------------------------- 24 757 4.7772 758 76 821 5.6718 808 ----------------------------------------------------------------------------------------------------------- 25 763 5.0933 763 77 828 5.6761 815 ----------------------------------------------------------------------------------------------------------- 26 770 5.0986 770 78 821 5.6807 807 ----------------------------------------------------------------------------------------------------------- 27 778 5.1047 779 79 821 5.6826 807 ----------------------------------------------------------------------------------------------------------- 28 784 5.1098 785 80 842 5.6875 829 ----------------------------------------------------------------------------------------------------------- 29 793 5.1164 793 81 821 5.6903 807 ----------------------------------------------------------------------------------------------------------- 30 800 5.1211 800 82 828 5.6940 814 ----------------------------------------------------------------------------------------------------------- 31 807 5.1245 808 83 821 5.6966 807 ----------------------------------------------------------------------------------------------------------- 32 819 5.1303 819 84 828 5.7010 814 ----------------------------------------------------------------------------------------------------------- 33 824 5.1351 824 85 821 5.7260 806 ----------------------------------------------------------------------------------------------------------- 34 833 5.1397 834 86 821 5.7282 806 ----------------------------------------------------------------------------------------------------------- 35 841 5.1436 842 87 828 5.7319 813 ----------------------------------------------------------------------------------------------------------- 36 851 5.1482 852 88 821 5.7335 805 ----------------------------------------------------------------------------------------------------------- 37 859 5.2955 859 89 828 5.7362 813 ----------------------------------------------------------------------------------------------------------- 38 855 5.3066 855 90 821 5.7385 805 ----------------------------------------------------------------------------------------------------------- 39 851 5.3167 851 91 821 5.7390 805 ----------------------------------------------------------------------------------------------------------- 40 846 5.3255 846 92 842 5.7422 828 ----------------------------------------------------------------------------------------------------------- 41 842 5.3361 842 93 821 5.7444 805 ----------------------------------------------------------------------------------------------------------- 42 836 5.3455 836 94 828 5.7455 813 ----------------------------------------------------------------------------------------------------------- 43 832 5.3528 831 95 821 5.7464 805 ----------------------------------------------------------------------------------------------------------- 44 830 5.3638 830 96 828 5.7485 812 ----------------------------------------------------------------------------------------------------------- 45 826 5.3716 826 97 821 5.7889 803 ----------------------------------------------------------------------------------------------------------- 46 827 5.3799 827 98 821 5.7897 803 ----------------------------------------------------------------------------------------------------------- 47 826 5.3894 826 99 828 5.7914 811 ----------------------------------------------------------------------------------------------------------- 48 827 5.4018 827 100 821 5.7920 803 ----------------------------------------------------------------------------------------------------------- 49 826 5.4537 826 101 828 5.7943 811 ----------------------------------------------------------------------------------------------------------- 50 826 5.4630 826 102 821 5.7941 803 ----------------------------------------------------------------------------------------------------------- 51 827 5.4721 827 103 821 5.7937 803 ----------------------------------------------------------------------------------------------------------- 52 826 5.4801 826 104 836 5.7960 818 ----------------------------------------------------------------------------------------------------------- *Includes Net Swap Payments received from and paid to the Swap Provider The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 17 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ SUMMARY - AGGREGATE POOL** - ------------------------------------------------------------------------------------------------------------------------------------ Number of Mortgage Loans: 3,363 Property Type: Aggregate Principal Balance: $196,525,112 Single Family: 60.69% Conforming Balance:* $187,001,482 PUD: 24.18% Average Principal Balance: $58,437 2-4 Family: 5.53% Range: $4,066 - $499,092 Condo: 9.45% W.A. Coupon: 11.080% Townhouse: 0.15% Range: 5.750% - 18.500% Occupancy Status: W.A. Remaining Term (Months): 217 Primary: 89.52% Range (Months): 108 - 357 Investment: 8.05% W.A. Seasoning (Months): 6 Second Home: 2.43% Latest Maturity Date: April 1, 2037 Documentation Status: State Concentration (Top 5): Full/Alternative: 27.25% California: 39.63% Stated: 49.69% Arizona: 8.31% Limited: 1.08% Florida: 7.78% No Documentation: 21.98% Nevada: 4.43% Non-Zero W.A. Prepayment Term (Months): 24 Washington: 4.36% Loans with Prepayment Penalties: 40.75% W.A. Original Combined LTV: 97.11% Interest Only Loans: 1.38% Range: 38.00% - 100.00% Non-Zero W.A. Interest Only Term (Months): 77 First Liens: 0.00% Second Liens: 100.00% Non-Balloon Loans: 22.83% W.A. FICO: 689 Index Type: Fixed Rate: 100.00% - ------------------------------------------------------------------------------------------------------------------------------------ *Based on the 2007 `Second Mortgages' loan limits only ** Unless otherwise stated, all percentages are based on Aggregate Principal Balance as of the Cutoff Date The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 18 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Originator - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Originator Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ db home lending llc 748 54,290,134 27.63 11.459 671 99.38 Home123 Corporation 701 39,259,417 19.98 10.001 712 95.47 GMAC Mortgage LLC 661 33,044,012 16.81 11.320 697 93.48 M&T Bank 488 23,223,527 11.82 10.976 706 95.60 Other 765 46,708,021 23.77 11.428 677 99.17 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Product Type - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Product Type Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Fixed - 10 Year 3 63,156 0.03 11.085 647 91.01 Fixed - 15 Year 75 2,385,377 1.21 10.134 703 92.27 Fixed - 20 Year 20 594,116 0.30 9.466 719 96.89 Fixed - 25 Year 2 46,935 0.02 13.177 697 100.00 Fixed - 25 Year IO 28 1,409,443 0.72 10.300 720 94.20 Fixed - 30 Year 780 39,697,673 20.20 10.495 705 95.72 Fixed - 30 Year IO 9 673,349 0.34 11.632 715 99.14 Balloon - 10/30 10 665,891 0.34 11.475 663 100.00 Balloon - 15/30 2,268 137,569,938 70.00 11.256 684 97.36 Balloon - 15/30 IO 6 624,079 0.32 11.948 723 98.38 Balloon - 20/30 122 9,770,244 4.97 11.085 685 99.80 Balloon - 30/40 40 3,024,910 1.54 11.745 670 99.23 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 19 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Principal Balance at Origination - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Remaining W.A. Number of Initial Aggregate Remaining Principal W.A. Original Principal Balance at Origination ($) Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 1,779 58,505,797 29.77 11.023 690 96.26 50,000.01 - 100,000.00 1,217 85,665,201 43.59 11.059 686 97.72 100,000.01 - 150,000.00 281 33,829,633 17.21 11.223 684 98.41 150,000.01 - 200,000.00 49 8,370,953 4.26 11.009 689 94.52 200,000.01 - 250,000.00 20 4,603,891 2.34 11.040 711 93.31 250,000.01 - 300,000.00 10 2,875,184 1.46 10.979 729 98.50 300,000.01 - 350,000.00 3 962,802 0.49 11.580 719 96.66 350,000.01 - 400,000.00 2 790,481 0.40 11.267 750 91.01 400,000.01 - 450,000.00 1 422,080 0.21 9.625 767 80.00 450,000.01 - 500,000.00 1 499,092 0.25 13.750 780 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Principal Balance - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Remaining W.A. Remaining Principal Balance Number of Initial Aggregate Remaining Principal W.A. Original ($) Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) C - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50,000.00 1,785 58,771,811 29.91 11.020 690 96.26 50,000.01 - 100,000.00 1,213 85,597,800 43.56 11.059 687 97.72 100,000.01 - 150,000.00 279 33,631,020 17.11 11.229 684 98.41 150,000.01 - 200,000.00 49 8,370,953 4.26 11.009 689 94.52 200,000.01 - 250,000.00 20 4,603,891 2.34 11.040 711 93.31 250,000.01 - 300,000.00 10 2,875,184 1.46 10.979 729 98.50 300,000.01 - 350,000.00 3 962,802 0.49 11.580 719 96.66 350,000.01 - 400,000.00 2 790,481 0.40 11.267 750 91.01 400,000.01 - 450,000.00 1 422,080 0.21 9.625 767 80.00 450,000.01 - 500,000.00 1 499,092 0.25 13.750 780 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 20 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Remaining Term to Maturity - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Remaining Term (months) Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 61 - 120 13 729,047 0.37 11.441 662 99.22 121 - 180 2,349 140,579,395 71.53 11.240 685 97.28 181 - 240 142 10,364,359 5.27 10.992 686 99.64 241 - 300 30 1,456,379 0.74 10.393 719 94.39 301 - 360 829 43,395,933 22.08 10.600 703 96.01 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Interest Only Term - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Interest Only Term (months) Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ N/A 3,320 193,818,241 98.62 11.081 689 97.12 60 32 1,934,644 0.98 10.597 718 95.72 120 11 772,228 0.39 12.048 723 98.07 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 21 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Mortgage Rate - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Mortgage Rate (%) Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 5.500 - 5.999 1 226,289 0.12 5.750 664 80.00 6.000 - 6.499 3 222,626 0.11 6.106 740 93.49 6.500 - 6.999 13 824,154 0.42 6.740 750 85.81 7.000 - 7.499 34 2,007,669 1.02 7.214 737 84.23 7.500 - 7.999 108 5,360,681 2.73 7.703 742 88.47 8.000 - 8.499 138 7,112,078 3.62 8.196 742 94.67 8.500 - 8.999 198 10,026,378 5.10 8.661 730 96.03 9.000 - 9.499 131 6,636,705 3.38 9.188 713 94.51 9.500 - 9.999 238 13,147,958 6.69 9.757 710 95.92 10.000 - 10.499 208 11,956,369 6.08 10.204 694 97.09 10.500 - 10.999 441 27,138,047 13.81 10.811 696 98.28 11.000 - 11.499 433 27,480,974 13.98 11.214 676 98.03 11.500 - 11.999 523 33,759,877 17.18 11.779 669 98.52 12.000 - 12.499 266 15,969,739 8.13 12.192 665 98.19 12.500 - 12.999 271 16,149,767 8.22 12.611 666 98.34 13.000 - 13.499 88 4,879,162 2.48 13.164 681 96.37 13.500 - 13.999 124 6,124,478 3.12 13.673 687 98.13 14.000 - 14.499 63 3,575,467 1.82 14.175 683 97.49 14.500 - 14.999 37 1,838,954 0.94 14.659 672 98.19 15.000 - 15.499 10 501,434 0.26 15.142 696 98.56 15.500 - 15.999 9 494,522 0.25 15.725 658 92.62 16.000 - 16.499 4 244,618 0.12 16.165 657 100.00 16.500 - 16.999 9 404,729 0.21 16.686 714 97.19 17.000 - 17.499 4 104,645 0.05 17.142 700 98.20 17.500 - 17.999 7 279,236 0.14 17.698 695 98.68 18.000 - 18.499 1 37,593 0.02 18.000 736 100.00 18.500 - 18.999 1 20,963 0.01 18.500 682 95.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 22 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Original Combined Loan-to-Value Ratio - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Original Combined Loan-to-Value Initial Aggregate Remaining Principal W.A. Original Ratio (%) Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 0.01 - 50.00 4 188,713 0.10 9.452 702 47.26 50.01 - 55.00 3 196,079 0.10 8.837 742 52.17 55.01 - 60.00 5 394,954 0.20 7.924 699 58.43 60.01 - 65.00 5 293,958 0.15 9.573 663 62.89 65.01 - 70.00 14 1,216,480 0.62 8.485 712 68.03 70.01 - 75.00 17 881,045 0.45 9.911 694 73.11 75.01 - 80.00 61 4,495,161 2.29 9.355 706 79.28 80.01 - 85.00 68 2,537,578 1.29 10.463 693 84.06 85.01 - 90.00 448 18,602,776 9.47 10.136 706 89.57 90.01 - 95.00 443 22,134,903 11.26 11.476 699 94.61 95.01 - 100.00 2,295 145,583,464 74.08 11.250 684 99.92 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ FICO Score at Origination - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original FICO Score at Origination Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ 575 - 599 3 206,126 0.10 12.524 591 97.77 600 - 624 37 1,995,987 1.02 12.793 621 95.07 625 - 649 722 42,750,404 21.75 11.864 641 97.94 650 - 674 771 45,765,914 23.29 11.555 661 97.81 675 - 699 649 37,543,097 19.10 11.048 686 97.10 700 - 724 424 25,851,775 13.15 10.638 712 97.12 725 - 749 313 16,168,695 8.23 9.967 737 96.55 750 - 774 236 14,618,165 7.44 10.154 761 95.26 775 - 799 169 9,461,434 4.81 9.796 785 95.51 800 - 824 39 2,163,516 1.10 9.825 807 91.39 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 23 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Geographic Distribution* - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Location Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ California 901 77,891,865 39.63 10.954 687 98.12 Arizona 324 16,322,036 8.31 11.374 685 97.81 Florida 299 15,280,178 7.78 11.683 682 96.07 Nevada 146 8,708,208 4.43 11.465 683 98.45 Washington 138 8,575,220 4.36 10.959 681 95.51 Texas 201 6,948,454 3.54 10.403 709 97.39 Illinois 129 5,721,818 2.91 11.155 688 95.84 Oregon 115 5,629,920 2.86 10.585 702 95.05 Colorado 97 4,803,995 2.44 10.949 689 96.69 Maryland 77 4,588,257 2.33 11.180 687 96.33 Georgia 107 4,496,962 2.29 11.668 685 96.87 New York 74 4,135,469 2.10 11.413 691 96.10 Virginia 53 3,968,103 2.02 10.567 709 93.75 New Jersey 48 3,200,777 1.63 11.075 702 95.29 Utah 58 2,691,333 1.37 11.100 698 95.66 Minnesota 49 2,095,554 1.07 10.916 679 97.15 Massachusetts 30 2,004,924 1.02 11.435 690 96.41 Michigan 58 1,831,078 0.93 11.366 681 98.65 Idaho 37 1,752,908 0.89 10.950 707 96.47 North Carolina 40 1,590,159 0.81 10.529 692 95.79 Ohio 47 1,445,459 0.74 11.055 677 98.00 Hawaii 16 1,376,763 0.70 11.114 688 94.88 Pennsylvania 42 1,297,735 0.66 10.244 704 97.81 Connecticut 21 1,132,930 0.58 11.889 708 95.34 Missouri 34 1,040,276 0.53 10.454 705 97.72 Alabama 22 1,011,208 0.51 10.200 733 90.21 Wisconsin 25 914,099 0.47 11.233 674 94.25 Indiana 33 871,931 0.44 11.819 690 96.54 Tennessee 28 832,252 0.42 10.599 694 96.37 Louisiana 24 827,879 0.42 10.940 703 97.68 New Mexico 18 604,395 0.31 11.641 702 91.89 Kentucky 11 484,735 0.25 10.445 700 90.32 South Carolina 10 459,006 0.23 12.642 698 98.47 District of Columbia 6 448,425 0.23 10.195 703 92.06 Delaware 7 288,070 0.15 12.289 697 100.00 New Hampshire 5 275,559 0.14 11.141 720 98.73 Arkansas 9 217,151 0.11 10.820 692 97.36 - ------------------------------------------------------------------------------------------------------------------------------------ *Geographic Distribution continued on the next page The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 24 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Geographic Distribution (continued) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Location Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Kansas 6 193,455 0.10 11.238 711 97.20 Rhode Island 2 130,544 0.07 9.122 719 96.76 Mississippi 3 107,924 0.05 10.021 689 100.00 Maine 3 93,737 0.05 10.200 660 87.56 Oklahoma 4 82,033 0.04 10.487 718 97.23 Nebraska 3 75,819 0.04 12.587 646 100.00 Iowa 1 33,861 0.02 11.990 662 100.00 Montana 1 23,319 0.01 12.250 722 95.00 South Dakota 1 19,330 0.01 10.600 723 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 25 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Occupancy Status - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Occupancy Status Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Primary 2,857 175,933,648 89.52 10.914 686 97.47 Investment 415 15,823,844 8.05 12.721 715 93.54 Second Home 91 4,767,620 2.43 11.766 727 95.84 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Documentation Type - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Documentation Type Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Stated Income Verified Assets 791 46,856,661 23.84 10.927 703 96.46 Full Documentation 934 45,115,360 22.96 10.159 691 96.49 Stated Documentation 492 34,425,654 17.52 11.574 668 99.27 No Documentation 492 26,751,265 13.61 11.802 686 96.22 No Ratio 273 16,011,543 8.15 12.024 690 95.72 Stated Income Stated Assets 189 11,769,458 5.99 11.056 695 96.73 Bank Statements 97 8,435,458 4.29 10.958 674 99.87 Stated Extra 18 3,832,079 1.95 10.979 713 99.60 Limited Documentation 43 1,753,686 0.89 10.415 686 97.18 No Income Verifier 18 773,621 0.39 11.446 684 99.12 No Income Verified Assets 7 427,132 0.22 11.328 690 96.77 Reduced Documentation 9 373,195 0.19 10.276 706 97.47 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Loan Purpose - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Loan Purpose Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Purchase 2,528 149,121,378 75.88 11.212 691 98.53 Refinance - Cashout 682 39,881,094 20.29 10.613 685 92.24 Refinance - Rate Term 153 7,522,641 3.83 10.934 673 94.72 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 26 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ DESCRIPTION OF THE TOTAL COLLATERAL - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Property Type - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Property Type Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ Single Family Residence 1,995 119,271,803 60.69 11.046 687 97.28 PUD 807 47,524,419 24.18 11.101 690 97.00 Condo 353 18,572,700 9.45 10.842 696 97.09 2-4 Family 201 10,868,277 5.53 11.767 698 95.69 Townhouse 7 287,914 0.15 10.899 696 99.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Original Prepayment Penalty Term - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ % of Aggregate Number of Remaining W.A. Initial Aggregate Remaining Principal W.A. Original Prepayment Penalty Term (months) Mortgage Loans Principal Balance ($) Balance Coupon (%) W.A. FICO CLTV (%) - ------------------------------------------------------------------------------------------------------------------------------------ N/A 2,183 116,449,885 59.25 10.850 700 95.73 6 15 1,089,755 0.55 11.116 723 96.02 7 4 236,319 0.12 12.490 698 96.27 12 73 6,052,274 3.08 11.685 678 98.34 13 3 249,891 0.13 12.152 658 98.76 24 934 63,564,292 32.34 11.362 671 99.72 36 150 8,839,812 4.50 11.590 680 95.83 60 1 42,885 0.02 12.000 661 100.00 - ------------------------------------------------------------------------------------------------------------------------------------ Total: 3,363 196,525,112 100.00 11.080 689 97.11 - ------------------------------------------------------------------------------------------------------------------------------------ The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 27 - ------------------------------------------------------------------------------------------------------------------------------------ ACE Securities Corp. [LOGO] Deusche Bank Home Equity Loan Trust, Series 2007-SL2 - ------------------------------------------------------------------------------------------------------------------------------------ FOR ADDITIONAL INFORMATION PLEASE CALL: ----------------------------------------------------------------------------------------- Deutsche Bank Securities ----------------------------------------------------------------------------------------- Whole Loan Trading ------------------ Michael Commaroto 212-250-3114 Paul Mangione 212-250-5786 Antonio Rhee 212-250-8569 ABS Banking ----------- Sue Valenti 212-250-3455 Roxana McKinney 212-250-0848 Ayesha Chatterjee 212-250-8297 ABS Structuring --------------- Chris Sudol 212-250-0507 ABS Collateral -------------- Reta Chandra 212-250-2729 Brian Yuen 212-250-8512 ----------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- Standard & Poor's Rating Service ----------------------------------------------------------------------------------------- Mark Goldenberg 212-438-1641 Allen Zimmerman 212-438-4125 Daniel Hall 212-438-1576 ----------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- Moody's Investors Service, Inc. ----------------------------------------------------------------------------------------- Karen Ramallo 212-553-0370 Rachel Peng 212-553-3831 ----------------------------------------------------------------------------------------- The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. 28
- Company Dashboard
- Filings
-
FWP Filing
Ace Securities Inactive FWPFree writing prospectus
Filed: 3 Aug 07, 12:00am