MORGAN STANLEY Securitized Products Group | October 15, 2003 |
Computational Materials
$ [ 650,000,000 ]
(Approximate)
Sequoia Mortgage Trust 2003-6
Mortgage Pass-Through Certificates
Adjustable Rate Residential Mortgage Loans
RWT Holdings, Inc.
Seller
Sequoia Residential Funding, Inc.
Depositor
Wells Fargo Bank Minnesota, N.A.
Master Servicer
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Mortgage Pass-Through Certificates
$ [650,000,000](Approximate, Subject to Final Collateral)
Publicly Offered Certificates
Adjustable Rate Residential Mortgage Loans
Class | Principal Balance(1) | WAL (Yrs) (Call/Mat) (2) | Pymt Window (Mths) (Call/Mat)(2) | CertificateInterest Rates | Tranche Type | Expected Ratings S&P/Moody’s/Fitch | |
A-1 | $[488,239,000] | 3.88 / 4.21 | 1-120 / 1-360 | Floater(3) | Senior | AAA/Aaa/AAA | |
A-2 | $[150,474,000] | 3.87/ 4.21 | 1-120 / 1-359 | Floater(3) | Senior | AAA/Aaa/AAA | |
X-1 | $[638,713,000] (5)(6) | N/A | 1-42 / 1-42 | Fixed(7) | Senior/ NAS IO | AAA/Aaa/AAA | |
X-2 | $[638,713,000](5) | N/A | N/A | N/A | Senior/ IO | AAA/Aaa/AAA | |
X-B | $[11,287,000](5) | N/A | N/A | N/A | Senior/ IO | AAA/Aaa/AAA | |
A-R | $100 | N/A | N/A | N/A | Senior | AAA/Aaa/AAA | |
B-1 | $[11,287,000] | 6.62 / 7.32 | 39-120 / 39-360 | Floater(4) | Subordinate | AA/Aa2/AA | |
B-2 | $[5,643,000] | N/A | Subordinate | A/A2/A | |||
B-3 | $[3,320,000] | Information Not Provided Herein | N/A | Subordinate | BBB/Baa2/BBB | ||
B-4 | $[1,660,000] | N/A | Subordinate | BB/Ba2/BB | |||
B-5 | $[996,000] | N/A | Subordinate | B/B2/B | |||
B-6 | $[2,323,900] | N/A | Subordinate | NR/NR/NR | |||
Total | $[663,943,000] |
(1)
Distributions on the Class A-1 Certificates will be primarily derived from one-month and six-month LIBOR adjustable rate mortgage loans (Group 1 Mortgage Loans, as described herein). Distributions on the Class A-2 Certificates will be primarily derived from six-month LIBOR adjustable rate mortgage loans (Group 2 Mortgage Loans, as described herein). Distributions on the Subordinate Certificates (as described herein) will be primarily derived from all Mortgage Loans (as described herein). Class sizes are subject to final collateral and rating agency approval and are subject to a +/-10% variance.
(2)
The WAL and Payment Windows to Call for the Class A-1, Class A-2, and Class B-1 Certificates are shown to the Clean-Up Call Date (as described herein).
(3)
The Class A-1 and Class A-2 Certificates will have a coupon equal to the least of (i) One-Month LIBOR and Six-Month LIBOR, respectively, plus a related margin (which margin doubles after the Clean-Up Call Date), (ii) the related Net WAC Cap and (iii) 11.50%. In the case of the Class A-2 Certificates, Six-Month LIBOR will reset every 6 months beginning with the first Distribution Date in November 2003.
(4)
The Class B-1 will have a coupon equal to the least of (i) One-Month LIBOR plus a margin (which margin is multiplied by 1.5 after the Clean-Up Call Date), (ii) the related Net WAC Cap and (iii) 11.50%.
(5)
Balances shown with respect to the Class X-1, Class X-2, and Class X-B Certificates are notional balances. Such classes are interest-only certificates and will not be entitled to distributions of principal.
(6)
The Class X-1 Certificates will consist of two components. On any Distribution Date, the notional amount of the Class X-1 Certificates will be equal to the sum of the notional amount of such two components. The notional amount of each component for any Distribution Date is the lesser of (x) the notional amount of such component set out for such date on the related notional amount schedule herein and (y) the class principal amount of the Class A Certificates related to such component immediately prior to such distribution date. Beginning on the Distribution Date in May 2007, the notional amount of the Class X-1 Certificates will be zero.
(7)
The interest rate on each of the two components of the Class X-1 Certificates will be 0.80%, subject to a cap equal to the weighted average of the interest rates of the mortgage loans in the pool related to such component and subject to other limitations described herein. Distributions on the Class X-1 Certificates in respect to such components will be subject to certain limitations in connection with Net WAC Shortfalls of the Class A Certificates, and as otherwise described herein. No principal will be distributed on the Class X-1 Certificates.
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Transaction Summary
Depositor:
Sequoia Residential Funding, Inc.
Co-Lead Managers:
Morgan Stanley and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Co-Managers:
Banc of America Securities LLC and Greenwich Capital Markets, Inc.
Master Servicer/
Securities Administrator:
Wells Fargo Bank Minnesota, National Association.
Trustee:
HSBC Bank USA.
Custodians:
Wells Fargo Bank Minnesota, National Association and Deutsche Bank National Trust Company.
Rating Agencies:
S&P, Moody’s and Fitch will rate the Offered Certificates. It is expected that the Certificates will be assigned the credit ratings on page 2 of this Preliminary Term Sheet.
Cut-off Date:
October 1, 2003.
Statistical Cut-off Date:
October 1, 2003. The statistical information presented in this Preliminary Term Sheet relates to the pool of mortgage loans as of the Statistical Cut-off Date. We refer to that pool as the preliminary pool. Some of the mortgage loans included in the preliminary pool may not be included in the final pool as a result of prepayments or the failure of these mortgage loans to meet the eligibility requirements established for the trust.
Pricing Date:
On or about October [15/16] 2003.
Closing Date:
On or about October 29, 2003.
Distribution Date:
The 20th day of each month (or if not a business day, the next succeeding business day), commencing in November 2003.
Certificates:
The “Senior Certificates” will consist of the Class A-1, Class A-2 (together, the “Class A Certificates”), Class X-1, Class X-2, Class X-B (together, the“Class X Certificates”) and Class A-R Certificates. The “Subordinate Certificates” will consist of the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. The Senior Certificates and the Subordinate Certificates are collectively referred to herein as the “Certificates”. The “LIBOR Certificates”consist of the Class A and Class B-1 Certificates. The Class A, Class X-1, and Class B-1 Certificates (collectively, the“Offered Certifica tes”) are being offered publicly.
Accrued Interest:
The Class A and Class B-1 Certificates will settle flat.
Accrual Period:
The interest accrual period (the “Accrual Period”) with respect to the Class A and Class B-1 Certificates for a given Distribution Date will be the period beginning on the 20th day of the month preceding such Distribution Date (or, in the case of the first Distribution Date, the Closing Date) and ending on the 19th day of the month in which such Distribution Date occurs(on a 30/360 basis), and with respect to the Class X-1 Certificates for a given Distribution Date will be the calendar month preceding the month in which such Distribution Date occurs(on a 30/360 basis).
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Registration:
The Offered Certificates will be made available in book-entry form through DTC, and upon request only, through Clearstream, Luxembourg and Euroclear system.
Federal Tax Treatment:
It is anticipated that the Offered Certificates will represent ownership of REMIC regular interests for tax purposes.
ERISA Eligibility:
The Offered Certificates are expected to be ERISA eligible. Prospective investors should review with their legal advisors whether the purchase and holding of any of the Offered Certificates could give rise to a transaction prohibited or not otherwise permissible under ERISA or other similar laws.
SMMEA Treatment:
The Senior Certificates are expected to constitute “mortgage related securities” for purposes of SMMEA.
Optional Redemption:
The terms of the transaction allow for the certificates to be redeemed and/or retired once the aggregate principal balance of the Mortgage Loans is equal to 20% or less than the aggregate principal balance of the Mortgage Loans as of the Cut-off Date (the “Optional Call Date”).
Clean-Up Call:
The terms of the transaction allow for a termination of the trust and retirement of the Certificates once the aggregate principal balance of the Mortgage Loans is equal to 10% or less of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date (the “Clean-Up Call Date”).
Pricing Prepayment
Speed:
The Offered Certificates will be priced to a prepayment speed of 20% CPR.
Mortgage Loans:
The trust will consist of 2 groups, with an aggregate principal balance as of the Statistical Cut-off Date of approximately $709,401,694, of adjustable rate, prime quality mortgage loans secured by first liens on one- to four-family residential properties (the “Mortgage Loans”). As of the Statistical Cut-off Date, approximately 89.3% and 10.7% of the Mortgage Loans are six-month LIBOR and one-month LIBOR indexed mortgage loans, respectively. Substantially all of the Mortgage Loans have original terms to maturity of approximately 25 or 30 years. As of the Statistical Cut-off Date, approximately 51.3% and 48.7% of the Mortgage Loans are scheduled to pay interest only for the first 5 years and 10 years, respectively. In each case, after such 5-year o r 10-year interest-only term, the mortgage loans are scheduled to amortize on a 25-year or 15-year fully amortizing basis, respectively. As of the Statistical Cut-off Date, approximately 51.3%, 23.7%, 16.9%, 6.3%, and 1.8% of the Mortgage Loans were originated by GreenPoint Mortgage Funding, Inc. (“GreenPoint”), Morgan Stanley Dean Witter Credit Corporation (“MSDWCC”), Merrill Lynch Credit Corporation (“MLCC”), Bank of America, N.A. (“Bank of America”), and Cendant Mortgage Corporation (“Cendant”), respectively, substantially in accordance with the underwriting guidelines to be specified in the prospectus supplement.
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Group 1
Mortgage Loans:
The Group 1 Mortgage Loans have an aggregate principal balance as of the Statistical Cut-off Date of approximately $542,273,940, which equals approximately 76.4% of the Mortgage Loans. As of the Statistical Cut-off Date, approximately 49.0%, 25.8%, 17.4%, 5.9%, and 1.9% of the Mortgage Loans were originated by GreenPoint, MSDWCC, MLCC, Bank of America, and Cendant, respectively.
As of the Statistical Cut-off Date, approximately 86.1% and 13.9% of the Group 1 Mortgage Loans are six-month LIBOR and one-month LIBOR indexed Mortgage Loans, respectively and approximately 49.0% and 51.0% of the Group 1 Mortgage Loans are scheduled to pay interest only for the first 5 years and 10 years, respectively.
Group 2
Mortgage Loans:
The Group 2 Mortgage Loans have an aggregate principal balance as of the Statistical Cut-off Date of approximately $167,127,754, which equals approximately 23.6% of the Mortgage Loans. As of the Statistical Cut-off Date, approximately 58.6%, 17.1%, 15.0%, 7.6%, and 1.7% of the Mortgage Loans were originated by GreenPoint, MSDWCC, MLCC, Bank of America, and Cendant, respectively.
All of the Group 2 Mortgage Loans are six-month LIBOR indexed Mortgage Loans. As of the Statistical Cut-off Date, approximately 58.6% and 41.4% of the Group 2 Mortgage Loans are scheduled to pay interest only for the first 5 years and 10 years, respectively.
Group Subordinate
Amount:
For any Distribution Date and either Group, the excess of the aggregate of the principal balances of the Mortgage Loans in such Group at the beginning of the related collection period over the principal balance of the related Class A Certificates immediately before such Distribution Date.
Net WAC Cap:
In the case of the Class A Certificates, the weighted average of the net mortgage rates for the Mortgage Loans in the related Group; in the case of the Class B-1 Certificates, the weighted average of the net mortgage rates for the Mortgage Loans in both Groups, weighted on the basis of the relative Group Subordinate Amount for each Group.
The Class A Certificates will have a Certificate Interest Rate equal to the least of (i) the applicable LIBOR plus the related margin, (ii) the related Net WAC Cap and (iii) 11.50%.
The Class B-1 Certificates will have a Certificate Interest Rate equal to the least of (i) one-month LIBOR plus the related margin, (ii) the related Net WAC Cap and (iii) 11.50%.
If on any Distribution Date, the Certificate Interest Rate of the Class A Certificates is subject to the related Net WAC Cap, such Certificates will be entitled to payment of an amount equal to the sum of (i) the excess of (a) interest accrued at the respective Certificate Interest Rate (without giving effect to the related Net WAC Cap) over (b) the amount of interest received on such Certificates based on the related Net WAC Cap, plus (ii) the unpaid portion of any such excess from previous Distribution Dates (and any interest thereon at the then applicable Certificate Interest Rate without giving effect to the related Net WAC Cap) (a “Net WAC Shortfall”) from amounts on deposit in the Reserve Fund.
If on any Distribution Date, the Certificate Interest Rate of the Class B-1 Certificates is subject to the related Net WAC Cap, such Certificates will be entitled to payment of an amount equal to the sum of (i) the excess of the (a) interest accrued at the respective Certificate Interest Rate (without giving effect to the Net WAC Cap) over (b) the amount of interest received on such Certificates based on the Net WAC Cap, plus (ii) the unpaid portion of any such excess from previous Distribution Dates (and any interest thereon at the then applicable Certificate Interest Rate without giving effect to the related Net WAC Cap) (a “Net WAC Shortfall”) from amounts on deposit in the Reserve Fund.
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Reserve Fund:
As of the Closing Date, the“Reserve Fund” will be established on behalf of the LIBOR Certificates. The Reserve Fund will be funded by an initial deposit of funds on the Closing Date, and thereafter, by amounts otherwise distributable to the Class X Certificates to the extent of any Net WAC Shortfall amount for a related Distribution Date. The Reserve Fund will not be an asset of the REMIC. On any Distribution Date, the LIBOR Certificates will be entitled to receive payments from the Reserve Fund in an amount equal to the related Net WAC Shortfall amount for such Distribution Date, if any. Any amounts remaining in the Reserve Fund after such distribution will be distributed to the Class X Certificates.
Credit Enhancement:
Senior/subordinate, shifting interest structure.
Credit enhancement for theSenior Certificates will consist of the subordination of the Subordinate Certificates (total subordination initially 3.80%).
Credit enhancement for theClass B-1 Certificates will consist of the subordination of the Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates (total subordination initially 2.10%).
Shifting Interest:
Until the first Distribution Date occurring after October 2013, the Subordinate Certificates will be locked out from receipt of all principal (unless the Senior Certificates are paid down to zero or the credit enhancement provided by the Subordinate Certificates has doubled prior to such date as described below). After such time and subject to standard collateral performance triggers (to be described in the prospectus supplement), the Subordinate Certificates will receive their pro-rata share of scheduled principal and increasing portions of principal prepayments.
The prepayment percentages on the Subordinate Certificates are as follows:
November 2003 – October 2013
0% Pro Rata Share
November 2013 – October 2014
30% Pro Rata Share
November 2014 – October 2015
40% Pro Rata Share
November 2015 – October 2016
60% Pro Rata Share
November 2016 – October 2017
80% Pro Rata Share
November 2017 and after
100%Pro Rata Share
Notwithstanding the foregoing, if the credit enhancement provided by the Subordinate Certificates doubles, all principal (scheduled principal and prepayments) will be paid pro-rata between the Senior and Subordinate Certificates (subject to performance triggers). However, if the credit enhancement provided by the Subordinate Certificates has doubled prior to the Distribution Date in November 2006 (subject to performance triggers), then the Subordinate Certificates will be entitled to only 50% of their pro-rata share of principal (scheduled principal and prepayments).
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Any principal not allocated to the Subordinate Certificates will be allocated to the Senior Certificates. In the event the applicable current senior percentage (aggregate principal balance of the Senior Certificates, divided by the aggregate principal balance of the Mortgage Loans) exceeds the initial senior percentage (aggregate principal balance of the Senior Certificates as of the Closing Date, divided by the aggregate principal balance of the Mortgage Loans as of the Cut-off Date), the Senior Certificates will receive all principal prepayments from the Mortgage Loans, regardless of any prepayment percentages as described above.
Allocation of
Realized Losses:
Any realized losses, on the Mortgage Loans will be allocated as follows:first, to the Subordinate Certificates in reverse order of their alpha numerical class designations, in each case until the respective class principal amounts has been reduced to zero;thereafter, to the Class A Certificates in reduction of their respective class principal amounts.
Certificates Priority of
Distributions:
With respect to any Distribution Date, available funds from the Mortgage Loans will be distributed in the following order of priority:
1)
Senior Certificates, accrued and unpaid interest at the related Certificate Interest Rate, from the related Mortgage Loans; provided that, to the extent of any Net WAC Shortfall amount for such Distribution Date, the proportionate amount of interest otherwise distributable to the related Class X Certificates shall be deposited in the Reserve Fund.
2)
Class A-R Certificates, principal allocable to such class.
3)
Concurrently to the Class A Certificates:
Class A-1 and Class A-2 Certificates, pro-rata, principal, until their respective class principal amounts are reduced to zero, from the related Mortgage Loans.
4)
Class B-1 Certificates, accrued and unpaid interest at the related Certificate Interest Rate.
5)
Class B-1 Certificates, principal allocable to such class.
6)
Class A Certificates, the related Net WAC Shortfall amount, from the Reserve Fund.
7)
Class B-1 Certificates, the related Net WAC Shortfall Amount, from the Reserve Fund.
8)
Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates, in sequential order, accrued and unpaid interest at the related Certificate Interest Rate and the respective shares of principal allocable to such classes.
1)
Class A-R Certificate, any remaining amount.
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sensitivity Tables
Class A-1 To Call | ||||||
CPR | 12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR |
WAL (yr) | 6.30 | 5.16 | 3.88 | 3.03 | 2.45 | 1.72 |
MDUR (yr) | 5.84 | 4.83 | 3.68 | 2.91 | 2.36 | 1.67 |
First Prin Pay | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 |
Last Prin Pay | 12/20/2018 | 8/20/2016 | 10/20/2013 | 9/20/2011 | 3/20/2010 | 5/20/2008 |
Class A-1 To Maturity | ||||||
CPR | 12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR |
WAL (yr) | 6.68 | 5.54 | 4.21 | 3.33 | 2.70 | 1.89 |
MDUR (yr) | 6.14 | 5.14 | 3.96 | 3.16 | 2.58 | 1.83 |
First Prin Pay | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 |
Last Prin Pay | 10/20/2033 | 10/20/2033 | 10/20/2033 | 10/20/2033 | 10/20/2033 | 9/20/2033 |
Class A-2 To Call | ||||||
CPR | 12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR |
WAL (yr) | 6.28 | 5.15 | 3.87 | 3.03 | 2.45 | 1.72 |
MDUR (yr) | 5.80 | 4.81 | 3.67 | 2.90 | 2.36 | 1.67 |
First Prin Pay | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 |
Last Prin Pay | 12/20/2018 | 8/20/2016 | 10/20/2013 | 9/20/2011 | 3/20/2010 | 5/20/2008 |
Class A-2 To Maturity | ||||||
CPR | 12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR |
WAL (yr) | 6.67 | 5.53 | 4.21 | 3.32 | 2.70 | 1.89 |
MDUR (yr) | 6.10 | 5.11 | 3.94 | 3.15 | 2.58 | 1.82 |
First Prin Pay | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 | 11/20/2003 |
Last Prin Pay | 9/20/2033 | 9/20/2033 | 9/20/2033 | 9/20/2033 | 9/20/2033 | 9/20/2033 |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sensitivity Tables (cont’d)
Class B-1 To Call | ||||||
CPR | 12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR |
WAL (yr) | 10.53 | 8.73 | 6.62 | 5.39 | 4.57 | 3.45 |
MDUR (yr) | 9.48 | 7.98 | 6.17 | 5.08 | 4.35 | 3.32 |
First Prin Pay | 4/20/2009 | 3/20/2008 | 1/20/2007 | 4/20/2006 | 11/20/2005 | 4/20/2005 |
Last Prin Pay | 12/20/2018 | 8/20/2016 | 10/20/2013 | 9/20/2011 | 3/20/2010 | 5/20/2008 |
Class B-1 To Maturity | ||||||
CPR | 12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR |
WAL (yr) | 11.33 | 9.53 | 7.32 | 6.05 | 5.22 | 4.03 |
MDUR (yr) | 10.07 | 8.59 | 6.73 | 5.63 | 4.90 | 3.84 |
First Prin Pay | 4/20/2009 | 3/20/2008 | 1/20/2007 | 4/20/2006 | 11/20/2005 | 4/20/2005 |
Last Prin Pay | 10/20/2033 | 10/20/2033 | 10/20/2033 | 10/20/2033 | 10/20/2033 | 9/20/2033 |
Class X-1 To Call | ||||||
CPR | 12% CPR | 20% CPR | 30% CPR | 35% CPR | 36% CPR | 40% CPR |
Yield | 4.50 | 4.50 | 4.50 | 4.50 | 2.93 | (3.60) |
Class X-1 To Maturity | ||||||
CPR | 12% CPR | 20% CPR | 30% CPR | 35% CPR | 36% CPR | 40% CPR |
Yield | 4.50 | 4.50 | 4.50 | 4.50 | 2.93 | (3.60) |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Class A-1 and Class A-2, and Class B-1 Certificates
Effective Net WAC Cap Schedule*
Assumptions: |
20% CPR |
To Clean-Up Call |
Class A Hard Cap: [11.50]% |
Class B-1 Hard Cap: [11.50]% |
Distribution Period | Class A-1 30/360 Net WAC Cap (%) | Class A-2 30/360 Net WAC Cap (%) | Class B-1 30/360 Net WAC Cap (%) |
1 | 2.63 | 2.66 | 2.64 |
2 | 3.91 | 2.66 | 3.61 |
3 | 3.91 | 2.66 | 3.61 |
4 | 3.91 | 2.66 | 3.61 |
5 | 3.91 | 2.82 | 3.65 |
6 and After | 11.50 | 11.50 | 11.50 |
*
The Net WAC Cap is calculated assuming current 1-Month LIBOR or 6-Month LIBOR of 20.00% and is run at the pricing speed of 20% CPR to the clean-up call
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Notional Amount Schedules for the Class X-1
Distribution Date | Group 1 Nas IO Schedule | Group 2 Nas IO Schedule |
|
|
|
November 20, 2003 | $488,239,000.00 | $150,474,000.00 |
December 20, 2003 | 470,342,827.69 | 144,958,404.40 |
January 20, 2004 | 453,077,611.31 | 139,637,298.98 |
February 20, 2004 | 436,421,198.64 | 134,503,825.66 |
March 20, 2004 | 420,352,122.13 | 129,551,368.18 |
April 20, 2004 | 404,849,671.22 | 124,773,543.58 |
May 20, 2004 | 389,893,865.63 | 120,164,193.99 |
June 20, 2004 | 375,465,429.62 | 115,717,378.65 |
July 20, 2004 | 361,545,767.16 | 111,427,366.31 |
August 20, 2004 | 348,116,937.96 | 107,288,627.81 |
September 20, 2004 | 335,161,634.30 | 103,295,828.94 |
October 20, 2004 | 322,663,158.80 | 99,443,823.60 |
November 20, 2004 | 310,605,402.85 | 95,727,647.15 |
December 20, 2004 | 298,972,825.85 | 92,142,510.01 |
January 20, 2005 | 287,750,435.20 | 88,683,791.49 |
February 20, 2005 | 276,923,766.96 | 85,347,033.83 |
March 20, 2005 | 266,478,867.23 | 82,127,936.47 |
April 20, 2005 | 256,402,274.14 | 79,022,350.48 |
May 20, 2005 | 246,681,000.51 | 76,026,273.24 |
June 20, 2005 | 237,302,517.10 | 73,135,843.27 |
July 20, 2005 | 228,254,736.50 | 70,347,335.25 |
August 20, 2005 | 219,866,023.25 | 67,761,956.15 |
September 20, 2005 | 211,779,106.63 | 65,269,590.07 |
October 20, 2005 | 203,983,239.05 | 62,866,924.62 |
November 20, 2005 | 196,468,053.72 | 60,550,764.80 |
December 20, 2005 | 189,223,551.28 | 58,318,028.80 |
January 20, 2006 | 182,240,086.74 | 56,165,744.08 |
February 20, 2006 | 175,508,356.96 | 54,091,043.42 |
March 20, 2006 | 169,019,388.63 | 52,091,161.26 |
April 20, 2006 | 162,764,526.51 | 50,163,430.09 |
May 20, 2006 | 156,735,422.26 | 48,305,276.95 |
June 20, 2006 | 150,924,023.56 | 46,514,220.16 |
July 20, 2006 | 145,322,563.66 | 44,787,865.99 |
August 20, 2006 | 139,923,551.24 | 43,123,905.66 |
September 20, 2006 | 134,719,760.71 | 41,520,112.25 |
October 20, 2006 | 129,704,222.80 | 39,974,337.84 |
November 20, 2006 | 124,870,215.51 | 38,484,510.73 |
December 20, 2006 | 120,467,058.93 | 37,127,475.13 |
January 20, 2007 | 116,219,165.86 | 35,818,291.15 |
February 20, 2007 | 112,121,061.41 | 34,555,271.43 |
March 20, 2007 | 108,167,463.77 | 33,336,788.14 |
April 20, 2007 | 104,353,277.35 | 32,161,270.84 |
May 20, 2007 and thereafter | 0.00 | 0.00 |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
TOTAL CURRENT BALANCE: | $709,401,694 | ||||||
NUMBER OF LOANS: | 2,020 | ||||||
Minimum | Maximum | ||||||
AVG CURRENT BALANCE: | $351,189 | $21,166 | $3,000,000 | ||||
AVG ORIGINAL BALANCE: | $352,668 | $23,600 | $3,000,000 | ||||
| |||||||
WAVG LOAN RATE: | 2.993 | % | 2.125 | % | 4.000 | % | |
WAVG SERVICING FEE: | 0.354 | % | 0.250 | % | 0.625 | % | |
WAVG NET LOAN RATE: | 2.639 | % | 1.875 | % | 3.625 | % | |
| |||||||
WAVG GROSS MARGIN: | 1.822 | % | 1.000 | % | 2.500 | % | |
WAVG MAXIMUM LOAN RATE: | 12.003 | % | 11.875 | % | 15.375 | % | |
WAVG PERIODIC RATE CAP: | N/A | N/A | N/A | ||||
WAVG FIRST RATE CAP: | N/A | N/A | N/A | ||||
| |||||||
WAVG ORIGINAL LTV: | 68.00 | % | 7.29 | % | 100.00 | % | |
WAVG EFFECTIVE LTV(1): | 66.85 | % | 7.29 | % | 95.00 | % | |
| |||||||
WAVG CREDIT SCORE: | 731 | 504 | 821 | ||||
| |||||||
WAVG ORIGINAL TERM: | 331 | months | 300 | months | 360 | months | |
WAVG REMAINING TERM: | 329 | months | 287 | months | 360 | months | |
WAVG SEASONING: | 1 | months | 0 | months | 13 | months | |
| |||||||
WAVG NEXT RATE RESET: | 4 | months | 1 | months | 6 | months | |
WAVG RATE ADJ FREQ: | 5 | months | 1 | months | 6 | months | |
WAVG FIRST RATE ADJ FREQ: | 5 | months | 1 | months | 6 | months | |
| |||||||
WAVG IO ORIGINAL TERM: | 89 | months | 60 | months | 120 | months | |
WAVG IO REMAINING TERM: | 88 | months | 53 | months | 120 | months | |
| |||||||
TOP STATE CONCENTRATIONS (%): | CA (28.09%), FL (10.41%), and AZ (5.22%) | ||||||
MAXIMUM ZIP CODE CONCENTRATION (%): | 85253 (0.75%), Paradise Valley, AZ | ||||||
| |||||||
FIRST PAY DATE: | Oct 01, 2002 | Nov 01, 2003 | |||||
RATE CHANGE DATE: | Nov 01, 2003 | Apr 01, 2004 | |||||
MATURITY DATE: | Sep 01, 2027 | Oct 01, 2033 | |||||
(1) Effective LTV is defined as the following: loan balance less amount of the pledge account divided by the lesser of the appraised value or sale price of the property |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
ORIGINATOR: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Greenpoint |
| 1,095 |
| $363,770,010.54 |
| 51.28 | % |
Morgan Stanley |
| 489 |
| 168,428,171.11 |
| 23.74 | |
Merrill Lynch Credit Corp |
| 322 |
| 119,621,037.66 |
| 16.86 | |
BofA |
| 76 |
| 44,614,260.79 |
| 6.29 | |
Cendant Mortgage Corp |
| 38 |
| 12,968,214.22 |
| 1.83 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
INDEX: | Number of | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Libor - 6 Month |
| 1,835 |
| $633,811,843.07 |
| 89.34 | % |
Libor - 1 Month |
| 185 |
| 75,589,851.25 |
| 10.66 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
DELINQUENCY: | Number of | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Current |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
CURRENT BALANCE ($): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
0.01 - 25,000.00 |
| 1 |
| $21,165.60 |
| 0.00 | % |
25,000.01 - 50,000.00 |
| 9 |
| 410,727.37 |
| 0.06 | |
50,000.01 - 75,000.00 |
| 44 |
| 2,883,988.63 |
| 0.41 | |
75,000.01 - 100,000.00 |
| 92 |
| 8,279,310.27 |
| 1.17 | |
100,000.01 - 200,000.00 |
| 580 |
| 87,888,136.66 |
| 12.39 | |
200,000.01 - 300,000.00 |
| 393 |
| 97,905,710.04 |
| 13.8 | |
300,000.01 - 400,000.00 |
| 299 |
| 104,621,242.63 |
| 14.75 | |
400,000.01 - 500,000.00 |
| 204 |
| 92,808,929.79 |
| 13.08 | |
500,000.01 - 600,000.00 |
| 123 |
| 68,048,698.69 |
| 9.59 | |
600,000.01 - 700,000.00 |
| 93 |
| 60,674,399.51 |
| 8.55 | |
700,000.01 - 800,000.00 |
| 56 |
| 42,511,005.95 |
| 5.99 | |
800,000.01 - 900,000.00 |
| 25 |
| 21,391,174.97 |
| 3.02 |
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
900,000.01 - 1,000,000.00 |
| 51 |
| 49,919,229.70 |
| 7.04 | |
1,000,000.01 - 1,500,000.00 |
| 37 |
| 46,040,943.51 |
| 6.49 | |
1,500,000.01 - 2,000,000.00 |
| 10 |
| 18,156,408.00 |
| 2.56 | |
2,000,000.01 - 2,500,000.00 |
| 1 |
| 2,190,623.00 |
| 0.31 | |
2,500,000.01 - 3,000,000.00 |
| 2 |
| 5,650,000.00 |
| 0.8 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
LOAN RATE (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
2.001 - 2.250 |
| 2 |
| $1,785,000.00 |
| 0.25 | % |
2.251 - 2.500 |
| 23 |
| 7,813,796.39 |
| 1.10 | |
2.501 - 2.750 |
| 445 |
| 159,033,475.59 |
| 22.42 | |
2.751 - 3.000 |
| 716 |
| 233,674,962.99 |
| 32.94 | |
3.001 - 3.250 |
| 764 |
| 275,691,214.60 |
| 38.86 | |
3.251 - 3.500 |
| 67 |
| 27,109,244.75 |
| 3.82 | |
3.501 - 3.750 |
| 2 |
| 3,114,000.00 |
| 0.44 | |
3.751 - 4.000 |
| 1 |
| 1,180,000.00 |
| 0.17 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
GROSS MARGIN (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
1.000 |
| 6 |
| $3,647,900.00 |
| 0.51 | % |
1.125 |
| 2 |
| 419,220.00 |
| 0.06 | |
1.250 |
| 14 |
| 4,323,743.19 |
| 0.61 | |
1.375 |
| 10 |
| 3,867,183.17 |
| 0.55 | |
1.500 |
| 144 |
| 53,662,200.12 |
| 7.56 | |
1.625 |
| 546 |
| 184,621,961.71 |
| 26.03 | |
1.750 |
| 199 |
| 70,193,905.46 |
| 9.89 | |
1.875 |
| 339 |
| 106,228,525.55 |
| 14.97 | |
2.00 |
| 640 |
| 234,605,380.82 |
| 33.07 | |
2.125 |
| 56 |
| 19,264,011.57 |
| 2.72 | |
2.250 |
| 62 |
| 25,453,662.73 |
| 3.59 | |
2.375 |
| 1 |
| 2,650,000.00 |
| 0.37 | |
2.500 |
| 1 |
| 464,000.00 |
| 0.07 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
ORIGINAL TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
300 |
| 925 |
| $345,631,683.78 |
| 48.72 | % |
360 |
| 1,095 |
| 363,770,010.54 |
| 51.28 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
283 - 288 |
| 3 |
| $1,322,803.67 |
| 0.19 | % |
289 - 294 |
| 37 |
| 12,378,090.79 |
| 1.74 | |
295 - 300 |
| 885 |
| 331,930,789.32 |
| 46.79 | |
349 - 354 |
| 6 |
| 2,431,543.74 |
| 0.34 | |
355 - 360 |
| 1,089 |
| 361,338,466.80 |
| 50.94 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
IO REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
49 - 54 |
| 6 |
| $2,431,543.74 |
| 0.34 | % |
55 - 60 |
| 1,089 |
| 361,338,466.80 |
| 50.94 | |
103 - 108 |
| 3 |
| 1,322,803.67 |
| 0.19 | |
109 - 114 |
| 37 |
| 12,378,090.79 |
| 1.74 | |
115 - 120 |
| 885 |
| 331,930,789.32 |
| 46.79 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
RATE CHANGE DATE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
11/1/2003 |
| 198 |
| $79,819,874.80 |
| 11.25 | % |
12/1/2003 |
| 10 |
| 2,908,151.80 |
| 0.41 | |
1/1/2004 |
| 103 |
| 37,857,255.59 |
| 5.34 | |
2/1/2004 |
| 371 |
| 132,732,845.15 |
| 18.71 | |
3/1/2004 |
| 998 |
| 338,128,788.65 |
| 47.66 | |
4/1/2004 |
| 340 |
| 117,954,778.32 |
| 16.63 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
7/1/2003 |
| 198 |
| 92,238,479.25 |
| 16.77 | |
ORIGINAL LTV (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
0.01 - 10.00 |
| 2 |
| $361,256.35 |
| 0.05 | % |
10.01 - 20.00 |
| 20 |
| 6,137,128.96 |
| 0.87 | |
20.01 - 30.00 |
| 52 |
| 13,755,809.74 |
| 1.94 | |
30.01 - 40.00 |
| 84 |
| 24,135,967.97 |
| 3.40 | |
40.01 - 50.00 |
| 149 |
| 56,101,762.75 |
| 7.91 | |
50.01 - 60.00 |
| 195 |
| 90,166,270.08 |
| 12.71 | |
60.01 - 70.00 |
| 331 |
| 136,086,724.88 |
| 19.18 | |
70.01 - 80.00 |
| 1,057 |
| 344,182,200.83 |
| 48.52 | |
80.01 - 90.00 |
| 46 |
| 11,507,793.61 |
| 1.62 | |
90.01 - 100.00 |
| 84 |
| 26,966,779.16 |
| 3.80 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
EFFECTIVE LTV(1) (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
0.01 - 10.00 |
| 2 |
| $361,256.35 |
| 0.05 | % |
10.01 - 20.00 |
| 20 |
| 6,137,128.96 |
| 0.87 | |
20.01 - 30.00 |
| 52 |
| 13,755,809.74 |
| 1.94 | |
30.01 - 40.00 |
| 84 |
| 24,135,967.97 |
| 3.40 | |
40.01 - 50.00 |
| 161 |
| 60,899,754.59 |
| 8.58 | |
50.01 - 60.00 |
| 201 |
| 91,770,189.08 |
| 12.94 | |
60.01 - 65.00 |
| 125 |
| 58,567,258.06 |
| 8.26 | |
65.01 - 70.00 |
| 255 |
| 96,943,406.48 |
| 13.67 | |
70.01 - 75.00 |
| 325 |
| 111,577,115.15 |
| 15.73 | |
75.01 - 80.00 |
| 730 |
| 231,159,664.68 |
| 32.59 | |
80.01 - 85.00 |
| 14 |
| 3,593,910.58 |
| 0.51 | |
85.01 - 90.00 |
| 27 |
| 5,898,094.45 |
| 0.83 | |
90.01 - 95.00 |
| 24 |
| 4,602,138.24 |
| 0.65 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
(1) Effective LTV is defined as the following: loan balance less amount of the pledge account divided by the lesser of the appraised value or sale price of the property | |||||||
CREDIT SCORE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
N/A |
| 10 |
| $4,787,197.98 |
| 0.67 | % |
500 - 524 |
| 1 |
| 748,000.00 |
| 0.11 | |
575 - 599 |
| 7 |
| 4,132,702.00 |
| 0.58 | |
600 - 624 |
| 14 |
| 4,159,122.10 |
| 0.59 | |
625 - 649 |
| 34 |
| 10,816,390.00 |
| 1.52 | |
650 - 674 |
| 159 |
| 59,049,256.53 |
| 8.32 | |
675 - 699 |
| 292 |
| 103,111,291.85 |
| 14.53 | |
700 - 724 |
| 319 |
| 119,214,238.50 |
| 16.80 | |
725 - 749 |
| 329 |
| 122,457,654.49 |
| 17.26 | |
750 - 774 |
| 450 |
| 153,019,994.14 |
| 21.57 | |
775 - 799 |
| 354 |
| 111,955,696.90 |
| 15.78 | |
800 - 824 |
| 51 |
| 15,950,149.83 |
| 2.25 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
AMORTIZATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Interest Only | 2,020 |
| $709,401,694.32 |
| 100.00 | % | |
Total | 2,020 |
| $709,401,694.32 |
| 100.00 | % | |
DOCUMENTATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Full |
| 1,137 |
| $379,673,832.24 |
| 53.52 | % |
Limited |
| 318 |
| 139,701,633.09 |
| 19.69 | |
Alternative |
| 275 |
| 108,959,095.29 |
| 15.36 | |
Lite Doc |
| 204 |
| 56,678,961.01 |
| 7.99 | |
No Ratio |
| 53 |
| 14,324,236.85 |
| 2.02 | |
Income, No asset |
| 27 |
| 7,915,144.93 |
| 1.12 | |
Asset, No Income |
| 6 |
| 2,148,790.91 |
| 0.30 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
OCCUPANCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Primary |
| 1,799 |
| $632,876,685.03 |
| 89.21 | % |
Second Home |
| 156 |
| 62,746,601.45 |
| 8.85 | |
Investment |
| 65 |
| 13,778,407.84 |
| 1.94 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
PROPERTY TYPE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Single Family Residence |
| 1,261 |
| $463,908,524.07 |
| 65.39 | % |
PUD |
| 546 |
| 184,401,677.60 |
| 25.99 | |
Condo |
| 195 |
| 53,361,423.41 |
| 7.52 | |
Co-op |
| 5 |
| 3,621,962.11 |
| 0.51 | |
2-4 Family |
| 11 |
| 3,601,927.13 |
| 0.51 | |
Manufactured Housing |
| 1 |
| 302,000.00 |
| 0.04 | |
Townhouse |
| 1 |
| 204,180.00 |
| 0.03 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
PURPOSE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Refinance - Rate Term |
| 978 |
| $319,461,496.25 |
| 45.03 | % |
Purchase |
| 510 |
| 205,352,984.82 |
| 28.95 | |
Refinance - Cashout |
| 532 |
| 184,587,213.25 |
| 26.02 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
Sequoia Mortgage Trust 2003-6
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
STATES: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Alabama |
| 12 |
| $2,613,116.00 |
| 0.37 | % |
Alaska |
| 2 |
| 367,805.85 |
| 0.05 | |
Arizona |
| 143 |
| 37,048,530.74 |
| 5.22 | |
Arkansas |
| 5 |
| 829,189.00 |
| 0.12 | |
California |
| 421 |
| 199,303,738.71 |
| 28.09 | |
Colorado |
| 75 |
| 23,878,632.40 |
| 3.37 | |
Connecticut |
| 23 |
| 9,703,292.78 |
| 1.37 | |
Delaware |
| 3 |
| 2,526,700.00 |
| 0.36 | |
District of Columbia |
| 6 |
| 4,615,229.17 |
| 0.65 | |
Florida |
| 207 |
| 73,837,454.82 |
| 10.41 | |
Georgia |
| 123 |
| 33,134,392.95 |
| 4.67 | |
Hawaii |
| 9 |
| 5,176,009.44 |
| 0.73 | |
Idaho |
| 4 |
| 769,779.99 |
| 0.11 | |
Illinois |
| 51 |
| 20,151,918.68 |
| 2.84 | |
Indiana |
| 12 |
| 3,739,278.00 |
| 0.53 | |
Kansas |
| 8 |
| 2,089,200.00 |
| 0.29 | |
Kentucky |
| 7 |
| 2,330,900.00 |
| 0.33 | |
Louisiana |
| 5 |
| 1,703,906.89 |
| 0.24 | |
Maine |
| 3 |
| 807,083.31 |
| 0.11 | |
Maryland |
| 34 |
| 13,183,388.08 |
| 1.86 | |
Massachusetts |
| 46 |
| 19,220,121.60 |
| 2.71 | |
Michigan |
| 41 |
| 11,257,698.62 |
| 1.59 | |
Minnesota |
| 29 |
| 8,568,727.43 |
| 1.21 | |
Missouri |
| 15 |
| 6,576,300.00 |
| 0.93 | |
Montana |
| 6 |
| 1,236,533.00 |
| 0.17 | |
Nebraska |
| 3 |
| 1,379,991.30 |
| 0.19 | |
Nevada |
| 40 |
| 12,467,710.67 |
| 1.76 | |
New Hampshire |
| 6 |
| 1,389,399.98 |
| 0.20 | |
New Jersey |
| 69 |
| 27,765,400.47 |
| 3.91 | |
New Mexico |
| 2 |
| 553,000.00 |
| 0.08 | |
New York |
| 55 |
| 29,433,667.23 |
| 4.15 | |
North Carolina |
| 78 |
| 23,712,751.18 |
| 3.34 | |
Ohio |
| 95 |
| 16,322,680.12 |
| 2.30 | |
Oklahoma |
| 7 |
| 1,224,189.98 |
| 0.17 | |
Oregon |
| 25 |
| 7,687,292.91 |
| 1.08 | |
Pennsylvania |
| 44 |
| 13,336,941.90 |
| 1.88 | |
Rhode Island |
| 3 |
| 1,977,799.99 |
| 0.28 | |
South Carolina |
| 30 |
| 9,609,010.95 |
| 1.35 | |
South Dakota |
| 1 |
| 88,771.76 |
| 0.01 | |
Tennessee |
| 24 |
| 6,670,588.24 |
| 0.94 | |
Texas |
| 82 |
| 22,815,634.64 |
| 3.22 | |
Utah |
| 15 |
| 6,070,307.53 |
| 0.86 | |
Vermont |
| 1 |
| 110,000.00 |
| 0.02 | |
Virginia |
| 53 |
| 17,213,934.36 |
| 2.43 | |
Virgin Islands |
| 2 |
| 780,658.33 |
| 0.11 | |
Washington |
| 86 |
| 21,355,120.30 |
| 3.01 | |
Wisconsin |
| 8 |
| 1,767,915.00 |
| 0.25 | |
Wyoming |
| 1 |
| 1,000,000.00 |
| 0.14 | |
Total |
| 2,020 |
| $709,401,694.32 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
TOTAL CURRENT BALANCE: | $542,273,940 | ||||||
NUMBER OF LOANS: | 1,537 | ||||||
Minimum | Maximum | ||||||
AVG CURRENT BALANCE: | $352,813 | $21,166 | $3,000,000 | ||||
AVG ORIGINAL BALANCE: | $354,364 | $23,600 | $3,000,000 | ||||
| |||||||
WAVG LOAN RATE: | 2.987 | % | 2.125 | % | 4.000 | % | |
WAVG SERVICING FEE: | 0.354 | % | 0.250 | % | 0.625 | % | |
WAVG NET LOAN RATE: | 2.633 | % | 1.875 | % | 3.625 | % | |
| |||||||
WAVG GROSS MARGIN: | 1.816 | % | 1.000 | % | 2.500 | % | |
WAVG MAXIMUM LOAN RATE: | 12.003 | % | 11.875 | % | 15.375 | % | |
WAVG PERIODIC RATE CAP: | N/A | N/A | N/A | ||||
WAVG FIRST RATE CAP: | N/A | N/A | N/A | ||||
| |||||||
WAVG ORIGINAL LTV: | 67.74 | % | 8.23 | % | 100.00 | % | |
WAVG EFFECTIVE LTV(1): | 66.59 | % | 8.23 | % | 95.00 | % | |
| |||||||
WAVG CREDIT SCORE: | 730 | 504 | 814 | ||||
| |||||||
WAVG ORIGINAL TERM: | 329 | months | 300 | months | 360 | months | |
WAVG REMAINING TERM: | 328 | months | 287 | months | 360 | months | |
WAVG SEASONING: | 1 | months | 0 | months | 13 | months | |
| |||||||
WAVG NEXT RATE RESET: | 4 | months | 1 | months | 6 | months | |
WAVG RATE ADJ FREQ: | 5 | months | 1 | months | 6 | months | |
WAVG FIRST RATE ADJ FREQ: | 5 | months | 1 | months | 6 | months | |
| |||||||
WAVG IO ORIGINAL TERM: | 91 | months | 60 | months | 120 | months | |
WAVG IO REMAINING TERM: | 89 | months | 53 | months | 120 | months | |
| |||||||
TOP STATE CONCENTRATIONS (%): | CA (28.60%), FL (9.59%), and NY (4.75%) | ||||||
MAXIMUM ZIP CODE CONCENTRATION (%): | 90049 (0.84%) Los Angeles, CA | ||||||
| |||||||
FIRST PAY DATE: | Oct 01, 2002 | Nov 01, 2003 | |||||
RATE CHANGE DATE: | Nov 01, 2003 | Apr 01, 2004 | |||||
MATURITY DATE: | Sep 01, 2027 | Oct 01, 2033 | |||||
(1) Effective LTV is defined as the following: loan balance less amount of the pledge account divided by the lesser of the appraised value or sale price of the property |
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
ORIGINATOR: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Greenpoint |
| 804 |
| $265,754,278.85 |
| 49.01 | % |
Morgan Stanley |
| 399 |
| 139,911,863.60 |
| 25.80 | |
Merrill Lynch Credit Corp |
| 248 |
| 94,561,491.94 |
| 17.44 | |
BofA |
| 57 |
| 31,993,173.79 |
| 5.90 | |
Cendant Mortgage Corp |
| 29 |
| 10,053,132.07 |
| 1.85 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
INDEX: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Libor - 6 Month |
| 1,352 |
| $466,684,089.00 |
| 86.06 | % |
Libor - 1 Month |
| 185 |
| 75,589,851.25 |
| 13.94 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
DELINQUENCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Current |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
CURRENT BALANCE ($): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||||
0.01 - 25,000.00 |
| 1 |
| $21,165.60 |
| 0.00 | % | ||
25,000.01 - 50,000.00 |
| 7 |
| 340,464.00 |
| 0.06 | |||
50,000.01 - 75,000.00 |
| 31 |
| 2,029,192.37 |
| 0.37 | |||
75,000.01 - 100,000.00 |
| 78 |
| 7,038,000.13 |
| 1.30 | |||
100,000.01 - 200,000.00 |
| 433 |
| 65,429,215.40 |
| 12.07 | |||
200,000.01 - 300,000.00 |
| 280 |
| 69,671,208.78 |
| 12.85 | |||
300,000.01 - 400,000.00 |
| 241 |
| 84,182,590.52 |
| 15.52 | |||
400,000.01 - 500,000.00 |
| 163 |
| 74,049,300.41 |
| 13.66 | |||
500,000.01 - 600,000.00 |
| 97 |
| 53,618,969.92 |
| 9.89 | |||
600,000.01 - 700,000.00 |
| 65 |
| 42,392,201.22 |
| 7.82 | |||
700,000.01 - 800,000.00 |
| 45 |
| 34,123,452.53 |
| 6.29 | |||
800,000.01 - 900,000.00 |
| 20 |
| 17,065,174.98 |
| 3.15 | |||
900,000.01 - 1,000,000.00 |
| 41 |
| 40,205,538.87 |
| 7.41 | |||
1,000,000.01 - 1,500,000.00 |
| 24 |
| 29,685,434.52 |
| 5.47 | |||
1,500,000.01 - 2,000,000.00 |
| 8 |
| 14,581,408.00 |
| 2.69 | |||
2,000,000.01 - 2,500,000.00 |
| 1 |
| 2,190,623.00 |
| 0.40 | |||
2,500,000.01 - 3,000,000.00 |
| 2 |
| 5,650,000.00 |
| 1.04 | |||
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % | ||
LOAN RATE (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||||
2.001 - 2.250 |
| 1 |
| $1,505,000.00 |
| 0.28 | % | ||
2.251 - 2.500 |
| 16 |
| 4,775,214.08 |
| 0.88 | |||
2.501 - 2.750 |
| 364 |
| 128,921,482.78 |
| 23.77 | |||
2.751 - 3.000 |
| 540 |
| 178,776,274.52 |
| 32.97 | |||
3.001 - 3.250 |
| 567 |
| 206,467,981.45 |
| 38.07 | |||
3.251 - 3.500 |
| 46 |
| 17,533,987.42 |
| 3.23 | |||
3.501 - 3.750 |
| 2 |
| 3,114,000.00 |
| 0.57 | |||
3.751 - 4.000 |
| 1 |
| 1,180,000.00 |
| 0.22 | |||
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
GROSS MARGIN (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
1.000 |
| 5 |
| $3,391,900.00 |
| 0.63 | % |
1.125 |
| 1 |
| 139,220.00 |
| 0.03 | |
1.250 |
| 10 |
| 2,969,894.08 |
| 0.55 | |
1.375 |
| 6 |
| 1,487,699.98 |
| 0.27 | |
1.500 |
| 134 |
| 49,610,600.12 |
| 9.15 | |
1.625 |
| 414 |
| 140,269,525.70 |
| 25.87 | |
1.750 |
| 145 |
| 51,380,028.11 |
| 9.47 | |
1.875 |
| 252 |
| 79,955,880.59 |
| 14.74 | |
2.000 |
| 480 |
| 178,028,799.05 |
| 32.83 | |
2.125 |
| 44 |
| 15,901,712.87 |
| 2.93 | |
2.250 |
| 44 |
| 16,024,679.76 |
| 2.96 | |
2.375 |
| 1 |
| 2,650,000.00 |
| 0.49 | |
2.500 |
| 1 |
| 464,000.00 |
| 0.09 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
ORIGINAL TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
300 |
| 733 |
| $276,519,661.40 |
| 50.99 | % |
360 |
| 804 |
| 265,754,278.85 |
| 49.01 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
283 - 288 |
| 3 |
| $1,322,803.67 |
| 0.24 | % |
289 - 294 |
| 27 |
| 9,092,421.45 |
| 1.68 | |
295 - 300 |
| 703 |
| 266,104,436.28 |
| 49.07 | |
349 - 354 |
| 5 |
| 2,296,562.77 |
| 0.42 | |
355 - 360 |
| 799 |
| 263,457,716.08 |
| 48.58 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
IO REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
49 - 54 |
| 5 |
| $2,296,562.77 |
| 0.42 | % |
55 - 60 |
| 799 |
| 263,457,716.08 |
| 48.58 | |
103 - 108 |
| 3 |
| 1,322,803.67 |
| 0.24 | |
109 - 114 |
| 27 |
| 9,092,421.45 |
| 1.68 | |
115 - 120 |
| 703 |
| 266,104,436.28 |
| 49.07 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
RATE CHANGE DATE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
11/1/2003 |
| 193 |
| $78,206,128.85 |
| 14.42 | % |
12/1/2003 |
| 6 |
| 1,748,025.95 |
| 0.32 | |
1/1/2004 |
| 71 |
| 25,699,267.14 |
| 4.74 | |
2/1/2004 |
| 265 |
| 91,669,413.61 |
| 16.90 | |
3/1/2004 |
| 753 |
| 260,573,526.69 |
| 48.05 | |
4/1/2004 |
| 249 |
| 84,377,578.01 |
| 15.56 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
ORIGINAL LTV (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
0.01 - 10.00 |
| 1 |
| $106,256.35 |
| 0.02 | % |
10.01 - 20.00 |
| 14 |
| 4,415,333.80 |
| 0.81 | |
20.01 - 30.00 |
| 41 |
| 10,824,929.96 |
| 2.00 | |
30.01 - 40.00 |
| 69 |
| 19,258,037.29 |
| 3.55 | |
40.01 - 50.00 |
| 114 |
| 42,769,259.21 |
| 7.89 | |
50.01 - 60.00 |
| 154 |
| 75,190,442.33 |
| 13.87 | |
60.01 - 70.00 |
| 258 |
| 103,336,473.12 |
| 19.06 | |
70.01 - 80.00 |
| 794 |
| 258,393,734.47 |
| 47.65 | |
80.01 - 90.00 |
| 33 |
| 8,743,404.43 |
| 1.61 | |
90.01 - 100.00 |
| 59 |
| 19,236,069.30 |
| 3.55 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
EFFECTIVE LTV(1) (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
0.01 - 10.00 |
| 1 |
| $106,256.35 |
| 0.02 | % |
10.01 - 20.00 |
| 14 |
| 4,415,333.80 |
| 0.81 | |
20.01 - 30.00 |
| 41 |
| 10,824,929.96 |
| 2.00 | |
30.01 - 40.00 |
| 69 |
| 19,258,037.29 |
| 3.55 | |
40.01 - 50.00 |
| 126 |
| 47,567,251.05 |
| 8.77 | |
50.01 - 60.00 |
| 158 |
| 75,134,361.33 |
| 13.86 | |
60.01 - 65.00 |
| 94 |
| 42,071,088.79 |
| 7.76 | |
65.01 - 70.00 |
| 200 |
| 75,362,296.41 |
| 13.90 | |
70.01 - 75.00 |
| 245 |
| 84,709,379.59 |
| 15.62 | |
75.01 - 80.00 |
| 548 |
| 173,518,933.88 |
| 32.00 | |
80.01 - 85.00 |
| 9 |
| 2,423,149.98 |
| 0.45 | |
85.01 - 90.00 |
| 20 |
| 4,626,044.45 |
| 0.85 | |
90.01 - 95.00 |
| 12 |
| 2,256,877.38 |
| 0.42 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
(1) Effective LTV is defined as the following: loan balance less amount of the pledge account divided by the lesser of the appraised value or sale price of the property | |||||||
CREDIT SCORE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
N/A |
| 6 |
| $2,514,854.68 |
| 0.46 | % |
500 - 524 |
| 1 |
| 748,000.00 |
| 0.14 | |
575 - 599 |
| 5 |
| 2,780,702.00 |
| 0.51 | |
600 - 624 |
| 10 |
| 3,093,122.10 |
| 0.57 | |
625 - 649 |
| 23 |
| 8,050,166.98 |
| 1.48 | |
650 - 674 |
| 122 |
| 46,614,259.81 |
| 8.60 | |
675 - 699 |
| 227 |
| 82,647,842.73 |
| 15.24 | |
700 - 724 |
| 249 |
| 93,985,506.78 |
| 17.33 | |
725 - 749 |
| 251 |
| 93,434,322.45 |
| 17.23 | |
750 - 774 |
| 335 |
| 114,241,541.10 |
| 21.07 | |
775 - 799 |
| 268 |
| 81,035,710.71 |
| 14.94 | |
800 - 824 |
| 40 |
| 13,127,910.91 |
| 2.42 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
AMORTIZATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Interest Only |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
DOCUMENTATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Full |
| 832 |
| $275,211,636.83 |
| 50.75 | % |
Limited |
| 238 |
| 107,205,234.40 |
| 19.77 | |
Alternative |
| 229 |
| 91,890,419.34 |
| 16.95 | |
Lite Doc |
| 161 |
| 45,427,665.03 |
| 8.38 | |
No Ratio |
| 47 |
| 13,124,817.79 |
| 2.42 | |
Income, No asset |
| 25 |
| 7,426,375.95 |
| 1.37 | |
Asset, No Income |
| 5 |
| 1,987,790.91 |
| 0.37 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
OCCUPANCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Primary |
| 1,363 |
| $481,282,573.31 |
| 88.75 | % |
Second Home |
| 121 |
| 49,766,259.09 |
| 9.18 | |
Investment |
| 53 |
| 11,225,107.85 |
| 2.07 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
PROPERTY TYPE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Single Family Residence |
| 969 |
| $363,089,078.61 |
| 66.96 | % |
PUD |
| 404 |
| 134,296,707.39 |
| 24.77 | |
Condo |
| 150 |
| 38,915,244.02 |
| 7.18 | |
2-4 Family |
| 8 |
| 2,918,727.13 |
| 0.54 | |
Co-op |
| 4 |
| 2,548,003.11 |
| 0.47 | |
Manufactured Housing |
| 1 |
| 302,000.00 |
| 0.06 | |
Townhouse |
| 1 |
| 204,180.00 |
| 0.04 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
PURPOSE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Refinance - Rate Term |
| 728 |
| $242,141,952.40 |
| 44.65 | % |
Purchase |
| 392 |
| 155,292,892.07 |
| 28.64 | |
Refinance - Cashout |
| 417 |
| 144,839,095.78 |
| 26.71 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 1 Collateral
As of the Statistical Cut-Off Date
STATES: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Alabama |
| 9 |
| $2,139,791.00 |
| 0.39 | % |
Alaska |
| 1 |
| 204,642.85 |
| 0.04 | |
Arizona |
| 99 |
| 25,641,142.08 |
| 4.73 | |
Arkansas |
| 4 |
| 693,189.00 |
| 0.13 | |
California |
| 329 |
| 155,090,610.36 |
| 28.60 | |
Colorado |
| 59 |
| 17,976,600.89 |
| 3.32 | |
Connecticut |
| 19 |
| 8,224,120.68 |
| 1.52 | |
Delaware |
| 2 |
| 706,700.00 |
| 0.13 | |
District of Columbia |
| 4 |
| 2,916,833.17 |
| 0.54 | |
Florida |
| 162 |
| 52,012,764.08 |
| 9.59 | |
Georgia |
| 90 |
| 25,232,722.02 |
| 4.65 | |
Hawaii |
| 7 |
| 4,596,430.86 |
| 0.85 | |
Idaho |
| 4 |
| 769,779.99 |
| 0.14 | |
Illinois |
| 40 |
| 16,746,881.55 |
| 3.09 | |
Indiana |
| 10 |
| 3,308,278.00 |
| 0.61 | |
Kansas |
| 5 |
| 1,298,700.00 |
| 0.24 | |
Kentucky |
| 4 |
| 1,016,900.00 |
| 0.19 | |
Louisiana |
| 5 |
| 1,703,906.89 |
| 0.31 | |
Maine |
| 3 |
| 807,083.31 |
| 0.15 | |
Maryland |
| 24 |
| 9,133,790.08 |
| 1.68 | |
Massachusetts |
| 34 |
| 14,815,193.25 |
| 2.73 | |
Michigan |
| 30 |
| 8,580,290.54 |
| 1.58 | |
Minnesota |
| 23 |
| 7,060,027.43 |
| 1.30 | |
Missouri |
| 11 |
| 5,609,000.00 |
| 1.03 | |
Montana |
| 4 |
| 717,533.00 |
| 0.13 | |
Nebraska |
| 2 |
| 1,304,000.00 |
| 0.24 | |
Nevada |
| 26 |
| 8,367,019.59 |
| 1.54 | |
New Hampshire |
| 5 |
| 1,089,399.98 |
| 0.20 | |
New Jersey |
| 53 |
| 21,126,930.16 |
| 3.90 | |
New Mexico |
| 2 |
| 553,000.00 |
| 0.10 | |
New York |
| 48 |
| 25,761,333.66 |
| 4.75 | |
North Carolina |
| 66 |
| 20,023,763.28 |
| 3.69 | |
Ohio |
| 74 |
| 13,411,268.09 |
| 2.47 | |
Oklahoma |
| 7 |
| 1,224,189.98 |
| 0.23 | |
Oregon |
| 19 |
| 5,384,106.91 |
| 0.99 | |
Pennsylvania |
| 33 |
| 10,523,579.89 |
| 1.94 | |
Rhode Island |
| 3 |
| 1,977,799.99 |
| 0.36 | |
South Carolina |
| 21 |
| 7,271,228.75 |
| 1.34 | |
South Dakota |
| 1 |
| 88,771.76 |
| 0.02 | |
Tennessee |
| 16 |
| 4,813,888.27 |
| 0.89 | |
Texas |
| 56 |
| 16,010,136.27 |
| 2.95 | |
Utah |
| 11 |
| 5,219,212.00 |
| 0.96 | |
Vermont |
| 1 |
| 110,000.00 |
| 0.02 | |
Virginia |
| 44 |
| 14,198,727.16 |
| 2.62 | |
Virgin Islands |
| 1 |
| 130,658.33 |
| 0.02 | |
Washington |
| 59 |
| 14,577,900.13 |
| 2.69 | |
Wisconsin |
| 6 |
| 1,104,115.00 |
| 0.20 | |
Wyoming |
| 1 |
| 1,000,000.00 |
| 0.18 | |
Total |
| 1,537 |
| $542,273,940.25 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
TOTAL CURRENT BALANCE: | $167,127,754 | ||||||
NUMBER OF LOANS: | 483 | ||||||
Minimum | Maximum | ||||||
AVG CURRENT BALANCE: | $346,020 | $31,382 | $1,820,000 | ||||
AVG ORIGINAL BALANCE: | $347,271 | $39,250 | $1,820,000 | ||||
| |||||||
WAVG LOAN RATE: | 3.014 | % | 2.250 | % | 3.500 | % | |
WAVG SERVICING FEE: | 0.357 | % | 0.250 | % | 0.500 | % | |
WAVG NET LOAN RATE: | 2.657 | % | 2.000 | % | 3.125 | % | |
| |||||||
WAVG GROSS MARGIN: | 1.839 | % | 1.000 | % | 2.250 | % | |
WAVG MAXIMUM LOAN RATE: | 12.000 | % | 12.000 | % | 12.000 | % | |
WAVG PERIODIC RATE CAP: | N/A | N/A | N/A | ||||
WAVG FIRST RATE CAP: | N/A | N/A | N/A | ||||
| |||||||
WAVG ORIGINAL LTV: | 68.84 | % | 7.29 | % | 100.00 | % | |
WAVG EFFECTIVE LTV(1): | 67.69 | % | 7.29 | % | 95.00 | % | |
| |||||||
WAVG CREDIT SCORE: | 734 | 590 | 821 | ||||
| |||||||
WAVG ORIGINAL TERM: | 335 | months | 300 | months | 360 | months | |
WAVG REMAINING TERM: | 334 | months | 290 | months | 360 | months | |
WAVG SEASONING: | 1 | months | 0 | months | 10 | months | |
| |||||||
WAVG NEXT RATE RESET: | 5 | months | 1 | months | 6 | months | |
WAVG RATE ADJ FREQ: | 6 | months | 6 | months | 6 | months | |
WAVG FIRST RATE ADJ FREQ: | 6 | months | 6 | months | 6 | months | |
| |||||||
WAVG IO ORIGINAL TERM: | 85 | months | 60 | months | 120 | months | |
WAVG IO REMAINING TERM: | 83 | months | 54 | months | 120 | months | |
| |||||||
TOP STATE CONCENTRATIONS (%): | CA (26.45%), FL (13.06%), and AZ (6.83%) | ||||||
MAXIMUM ZIP CODE CONCENTRATION (%): | 33496 (1.57%) Boca Raton, FL | ||||||
| |||||||
FIRST PAY DATE: | Jan 01, 2003 | Nov 01, 2003 | |||||
RATE CHANGE DATE: | Nov 01, 2003 | Apr 01, 2004 | |||||
MATURITY DATE: | Dec 01, 2027 | Oct 01, 2033 | |||||
(1) Effective LTV is defined as the following: loan balance less amount of the pledge account divided by the lesser of the appraised value or sale price of the property |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
ORIGINATOR: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Greenpoint |
| 291 |
| $98,015,731.69 |
| 58.65 | % |
Morgan Stanley |
| 90 |
| 28,516,307.51 |
| 17.06 | |
Merrill Lynch Credit Corp |
| 74 |
| 25,059,545.72 |
| 14.99 | |
BofA |
| 19 |
| 12,621,087.00 |
| 7.55 | |
Cendant Mortgage Corp |
| 9 |
| 2,915,082.15 |
| 1.74 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
INDEX: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Libor - 6 Month |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
DELINQUENCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Current |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
CURRENT BALANCE ($): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | |||||||||
25,000.01 - 50,000.00 |
| 2 |
| $70,263.37 |
| 0.04 | % | |||||
50,000.01 - 75,000.00 |
| 13 |
| 854,796.26 |
| 0.51 | ||||||
75,000.01 - 100,000.00 |
| 14 |
| 1,241,310.14 |
| 0.74 | ||||||
100,000.01 – 200,000.00 |
| 147 |
| 22,458,921.26 |
| 13.44 | ||||||
200,000.01 – 300,000.00 |
| 113 |
| 28,234,501.26 |
| 16.89 | ||||||
300,000.01 - 400,000.00 |
| 58 |
| 20,438,652.11 |
| 12.23 | ||||||
400,000.01 - 500,000.00 |
| 41 |
| 18,759,629.38 |
| 11.22 | ||||||
500,000.01 - 600,000.00 |
| 26 |
| 14,429,728.77 |
| 8.63 | ||||||
600,000.01 - 700,000.00 |
| 28 |
| 18,282,198.29 |
| 10.94 | ||||||
700,000.01 - 800,000.00 |
| 11 |
| 8,387,553.42 |
| 5.02 | ||||||
800,000.01 - 900,000.00 |
| 5 |
| 4,325,999.99 |
| 2.59 | ||||||
900,000.01 - 1,000,000.00 |
| 10 |
| 9,713,690.83 |
| 5.81 | ||||||
1,000,000.01 - 1,500,000.00 |
| 13 |
| 16,355,508.99 |
| 9.79 | ||||||
1,500,000.01 - 2,000,000.00 |
| 2 |
| 3,575,000.00 |
| 2.14 | ||||||
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % | |||||
LOAN RATE (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | |||||||||
2.001 - 2.250 |
| 1 |
| $280,000.00 |
| 0.17 | % | |||||
2.251 - 2.500 |
| 7 |
| 3,038,582.31 |
| 1.82 | ||||||
2.501 - 2.750 |
| 81 |
| 30,111,992.81 |
| 18.02 | ||||||
2.751 - 3.000 |
| 176 |
| 54,898,688.47 |
| 32.85 | ||||||
3.001 - 3.250 |
| 197 |
| 69,223,233.15 |
| 41.42 | ||||||
3.251 - 3.500 |
| 21 |
| 9,575,257.33 |
| 5.73 | ||||||
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % | |||||
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
GROSS MARGIN (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
1.000 |
| 1 |
| $256,000.00 |
| 0.15 | % |
1.125 |
| 1 |
| 280,000.00 |
| 0.17 | |
1.250 |
| 4 |
| 1,353,849.11 |
| 0.81 | |
1.375 |
| 4 |
| 2,379,483.19 |
| 1.42 | |
1.500 |
| 10 |
| 4,051,600.00 |
| 2.42 | |
1.625 |
| 132 |
| 44,352,436.01 |
| 26.54 | |
1.750 |
| 54 |
| 18,813,877.35 |
| 11.26 | |
1.875 |
| 87 |
| 26,272,644.96 |
| 15.72 | |
2.000 |
| 160 |
| 56,576,581.77 |
| 33.85 | |
2.125 |
| 12 |
| 3,362,298.70 |
| 2.01 | |
2.250 |
| 18 |
| 9,428,982.97 |
| 5.64 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
ORIGINAL TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
300 |
| 192 |
| $69,112,022.38 |
| 41.35 | % |
360 |
| 291 |
| 98,015,731.69 |
| 58.65 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
289 - 294 |
| 10 |
| $3,285,669.34 |
| 1.97 | % |
295 - 300 |
| 182 |
| 65,826,353.04 |
| 39.39 | |
349 - 354 |
| 1 |
| 134,980.97 |
| 0.08 | |
355 - 360 |
| 290 |
| 97,880,750.72 |
| 58.57 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
IO REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
49 - 54 |
| 1 |
| $134,980.97 |
| 0.08 | % |
55 - 60 |
| 290 |
| 97,880,750.72 |
| 58.57 | |
109 - 114 |
| 10 |
| 3,285,669.34 |
| 1.97 | |
115 - 120 |
| 182 |
| 65,826,353.04 |
| 39.39 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
RATE CHANGE DATE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||||||||
11/01/2003 |
| 5 |
| $1,613,745.95 |
| 0.97 | % | ||||||
12/01/2003 |
| 4 |
| 1,160,125.85 |
| 0.69 | |||||||
01/01/2004 |
| 32 |
| 12,157,988.45 |
| 7.27 | |||||||
02/01/2004 |
| 106 |
| 41,063,431.55 |
| 24.57 | |||||||
03/01/2004 |
| 245 |
| 77,555,261.96 |
| 46.40 | |||||||
04/01/2004 |
| 91 |
| 33,577,200.31 |
| 20.09 | |||||||
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % | ||||||
ORIGINAL LTV (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||||||||
00.01 – 10.00 |
| 1 |
| $255,000.00 |
| 0.15 | % | ||||||
10.01 – 20.00 |
| 6 |
| 1,721,795.16 |
| 1.03 | |||||||
20.01 – 30.00 |
| 11 |
| 2,930,879.78 |
| 1.75 | |||||||
30.01 – 40.00 |
| 15 |
| 4,877,930.67 |
| 2.92 | |||||||
40.01 – 50.00 |
| 35 |
| 13,332,503.54 |
| 7.98 | |||||||
50.01 – 60.00 |
| 41 |
| 14,975,827.75 |
| 8.96 | |||||||
60.01 – 70.00 |
| 73 |
| 32,750,251.76 |
| 19.60 | |||||||
70.01 – 80.00 |
| 263 |
| 85,788,466.36 |
| 51.33 | |||||||
80.01 – 90.00 |
| 13 |
| 2,764,389.19 |
| 1.65 | |||||||
90.01 – 100.00 |
| 25 |
| 7,730,709.86 |
| 4.63 | |||||||
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
EFFECTIVE LTV(1) (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | |||||||||||
0.01 - 10.00 |
| 1 |
| $255,000.00 |
| 0.15 | % | |||||||
10.01 - 20.00 |
| 6 |
| 1,721,795.16 |
| 1.03 | ||||||||
20.01 - 30.00 |
| 11 |
| 2,930,879.78 |
| 1.75 | ||||||||
30.01 - 40.00 |
| 15 |
| 4,877,930.67 |
| 2.92 | ||||||||
40.01 - 50.00 |
| 35 |
| 13,332,503.54 |
| 7.98 | ||||||||
50.01 - 60.00 |
| 43 |
| 16,635,827.75 |
| 9.95 | ||||||||
60.01 - 65.00 |
| 31 |
| 16,496,169.27 |
| 9.87 | ||||||||
65.01 - 70.00 |
| 55 |
| 21,581,110.07 |
| 12.91 | ||||||||
70.01 - 75.00 |
| 80 |
| 26,867,735.56 |
| 16.08 | ||||||||
75.01 - 80.00 |
| 182 |
| 57,640,730.80 |
| 34.49 | ||||||||
80.01 - 85.00 |
| 5 |
| 1,170,760.61 |
| 0.70 | ||||||||
85.01 - 90.00 |
| 7 |
| 1,272,050.00 |
| 0.76 | ||||||||
90.01 - 95.00 |
| 12 |
| 2,345,260.86 |
| 1.40 | ||||||||
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % | |||||||
(1) Effective LTV is defined as the following: loan balance less amount of the pledge account divided by the lesser of the appraised value or sale price of the property | ||||||||||||||
CREDIT SCORE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | |||||||||||
N/A |
| 4 |
| $2,272,343.30 |
| 1.36 | % | |||||||
575 - 599 |
| 2 |
| 1,352,000.00 |
| 0.81 | ||||||||
600 - 624 | �� | 4 |
| 1,066,000.00 |
| 0.64 | ||||||||
625 - 649 |
| 11 |
| 2,766,223.02 |
| 1.66 | ||||||||
650 - 674 |
| 37 |
| 12,434,996.72 |
| 7.44 | ||||||||
675 - 699 |
| 65 |
| 20,463,449.12 |
| 12.24 | ||||||||
700 - 724 |
| 70 |
| 25,228,731.72 |
| 15.10 | ||||||||
725 - 749 |
| 78 |
| 29,023,332.04 |
| 17.37 | ||||||||
750 - 774 |
| 115 |
| 38,778,453.04 |
| 23.20 | ||||||||
775 - 799 |
| 86 |
| 30,919,986.19 |
| 18.50 | ||||||||
800 - 824 |
| 11 |
| 2,822,238.92 |
| 1.69 | ||||||||
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
AMORTIZATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Interest Only |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
DOCUMENTATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Full |
| 305 |
| $104,462,195.41 |
| 62.50 | % |
Limited |
| 80 |
| 32,496,398.69 |
| 19.44 | |
Alternative |
| 46 |
| 17,068,675.95 |
| 10.21 | |
Lite Doc |
| 43 |
| 11,251,295.98 |
| 6.73 | |
No Ratio |
| 6 |
| 1,199,419.06 |
| 0.72 | |
Income, No asset |
| 2 |
| 488,768.98 |
| 0.29 | |
Asset, No Income |
| 1 |
| 161,000.00 |
| 0.10 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
OCCUPANCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Primary |
| 436 |
| $151,594,111.72 |
| 90.71 | % |
Second Home |
| 35 |
| 12,980,342.36 |
| 7.77 | |
Investment |
| 12 |
| 2,553,299.99 |
| 1.53 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
PROPERTY TYPE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Single Family Residence |
| 292 |
| $100,819,445.47 |
| 60.32 | % |
PUD |
| 142 |
| 50,104,970.21 |
| 29.98 | |
Condo |
| 45 |
| 14,446,179.39 |
| 8.64 | |
Co-op |
| 1 |
| 1,073,959.00 |
| 0.64 | |
2-4 Family |
| 3 |
| 683,200.00 |
| 0.41 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
PURPOSE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Refinance - Rate Term |
| 250 |
| $77,319,543.85 |
| 46.26 | % |
Purchase |
| 118 |
| 50,060,092.75 |
| 29.95 | |
Refinance - Cashout |
| 115 |
| 39,748,117.47 |
| 23.78 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2003-6
Group 2 Collateral
As of the Statistical Cut-Off Date
STATES: | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Alabama |
| 3 |
| $473,325.00 |
| 0.28 | % |
Alaska |
| 1 |
| 163,163.00 |
| 0.10 | |
Arizona |
| 44 |
| 11,407,388.66 |
| 6.83 | |
Arkansas |
| 1 |
| 136,000.00 |
| 0.08 | |
California |
| 92 |
| 44,213,128.35 |
| 26.45 | |
Colorado |
| 16 |
| 5,902,031.51 |
| 3.53 | |
Connecticut |
| 4 |
| 1,479,172.10 |
| 0.89 | |
Delaware |
| 1 |
| 1,820,000.00 |
| 1.09 | |
District of Columbia |
| 2 |
| 1,698,396.00 |
| 1.02 | |
Florida |
| 45 |
| 21,824,690.74 |
| 13.06 | |
Georgia |
| 33 |
| 7,901,670.93 |
| 4.73 | |
Hawaii |
| 2 |
| 579,578.58 |
| 0.35 | |
Illinois |
| 11 |
| 3,405,037.13 |
| 2.04 | |
Indiana |
| 2 |
| 431,000.00 |
| 0.26 | |
Kansas |
| 3 |
| 790,500.00 |
| 0.47 | |
Kentucky |
| 3 |
| 1,314,000.00 |
| 0.79 | |
Maryland |
| 10 |
| 4,049,598.00 |
| 2.42 | |
Massachusetts |
| 12 |
| 4,404,928.35 |
| 2.64 | |
Michigan |
| 11 |
| 2,677,408.08 |
| 1.60 | |
Minnesota |
| 6 |
| 1,508,700.00 |
| 0.90 | |
Missouri |
| 4 |
| 967,300.00 |
| 0.58 | |
Montana |
| 2 |
| 519,000.00 |
| 0.31 | |
Nebraska |
| 1 |
| 75,991.30 |
| 0.05 | |
Nevada |
| 14 |
| 4,100,691.08 |
| 2.45 | |
New Hampshire |
| 1 |
| 300,000.00 |
| 0.18 | |
New Jersey |
| 16 |
| 6,638,470.31 |
| 3.97 | |
New York |
| 7 |
| 3,672,333.57 |
| 2.20 | |
North Carolina |
| 12 |
| 3,688,987.90 |
| 2.21 | |
Ohio |
| 21 |
| 2,911,412.03 |
| 1.74 | |
Oregon |
| 6 |
| 2,303,186.00 |
| 1.38 | |
Pennsylvania |
| 11 |
| 2,813,362.01 |
| 1.68 | |
South Carolina |
| 9 |
| 2,337,782.20 |
| 1.40 | |
Tennessee |
| 8 |
| 1,856,699.97 |
| 1.11 | |
Texas |
| 26 |
| 6,805,498.37 |
| 4.07 | |
Utah |
| 4 |
| 851,095.53 |
| 0.51 | |
Virginia |
| 9 |
| 3,015,207.20 |
| 1.80 | |
Virgin Islands |
| 1 |
| 650,000.00 |
| 0.39 | |
Washington |
| 27 |
| 6,777,220.17 |
| 4.06 | |
Wisconsin |
| 2 |
| 663,800.00 |
| 0.40 | |
Total |
| 483 |
| $167,127,754.07 |
| 100.00 | % |
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. This material is based on information that Morgan Stanley & Co. Incorporated (“Morgan Stanley”) considers reliable. Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities wo uld be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, and may effect transactions in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.