This information is furnished to you solely by Greenwich Capita Markets, Inc. and not by the issuer of the securities or any of its affiliates. Greenwich Capital Markets,Inc. is acting as Underwriter and not acting as Agent for the issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior term sheet for this transaction. In addition, the information contained herein will be superseded by information contained in term sheets circulated after the date hereof and by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement.
Preliminary Term Sheet
Date Prepared: November 12, 2003
Sequoia Mortgage Trust 2003-7
Mortgage Pass-Through Certificates
$725,975,212 (Approximate, Subject to Final Collateral)
Publicly Offered Certificates
Adjustable Rate Residential Mortgage Loans
Class | Principal Balance(1) | WAL (Yrs) Call/Mat) (2) | Pymt Window | Certificate Interest Rates | Tranche Type | Expected Ratings S&P/Moody's/Fitch |
A-1 | $347,561,000 | 3.84/4.19 | 1-117 / 1-359 | Floater | Senior | AAA/Aaa/AAA |
A-2 | $347,560,000 | 3.83/4.18 | 1-117 / 1-359 | Floater | Senior | AAA/Aaa/AAA |
X-1 | $14,518,000 | N/A | Senior/ NAS 10 | AAA/Aaa/AAA | ||
Information Not Provided Herein | ||||||
X-2 | $695,120,000 | N/A | Senior/ 10 | AAA/Aaa/AAA | ||
X-B | $14,518,000 | N/A | Senior/ 10 | AAA/Aaa/AAA | ||
A-R | $100 | Senior | AAA/Aaa/AAA | |||
B-1 | $14,518,000 | 6.54/7.28 | 39-117 / 39-359 | Floater | Subordinate | AA/Aa2/AA |
B-2 | $5,806,000 | N/A | Subordinate | A/A2/A | ||
B-3 | $4,354,000 | N/A | Subordinate | BBB/Baa2/BBB | ||
B-4 | $2,176,000 | N/A | Subordinate | BB/Ba2/BB | ||
B-5 | $1,450,000 | Information Not Provided Herein | N/A | Subordinate | B/B2/B | |
B-6 | $2,550,112 | N/A | Subordinate | NR/NRINR | ||
Total | $725,975,212 |
This information is furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities or any of its affiliates. Greenwich Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior term sheet for this transaction. In addition, the information contained herein will be superseded by information contained in term sheets circulated after the date hereof and by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement.
(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 and to maturity (as described herein).
(3)
The Class A-1 and Class A-2 Certificates will have a coupon equal to the lesser 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 December 2003.
(4)
The Class B-1 will have a coupon equal to the lesser 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 each of which is related to a group of mortgage loans. The notional amount of Class X-1 Certificate for any Distribution Date is the sum of the lesser of (x) the notional amount of one component set out for such date on the related notional amount schedule herein and (y) the class principal amounts of the Class A-1 or Class A-2 Certificates, as applicable, to such distribution date. Beginning on the Distribution Date in [-J, the notional amount of the Class X-1 Certificates will be zero. The interest rate on each of the two components of the Class X-1 Certificates will be the lesser of (x) [-]% and (y) the excess, if any, of (i) the weighted average of the interest rates of the mortgage loans in the pool related to such component over (ii) the interest rate for the Class A-1 or Class A-2 Certificates, as applicable. 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 X-1 Certificates.
(7)
The Class X-2 Certificates will consist of two components each of which is related to a group of mortgage loans.The notional amount of the Class X-2 Certificate for any Distribution Date is the principal amounts of the Class A-1 and Class A-2 Certificates immediately prior to such distribution date. The interest rate on each of the two components of the Class X2 Certificates will be equal to weighted average of the interest rates of the mortgage loans in the pool related to such component less interest distributed to such component's related Class A Certificate and Class X-1 component. Distributions on the Class X-2 Certificate 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 describ ed herein.
No principal will be distributed on the X-2 Certificates.
(8)
The notional amount of the Class X-B for any distribution date is equal to the principal amount of the Class B-1 Certificate immediately prior to such distribution date. The interest rate on the Class X-B Certificate will be equal to the weighted average of the interest rates of the mortgage loans in the pool less interest distributed to the Class B-1 Certificate. Distributions on the Class X-B Certificate will be subject to certain limitations in connection with Net WAC Shortfalls of the Class B-1 Certificate, and as otherwise described herein. No principal will be distributed on the X-B Certificates.
This information is furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities or any of its affiliates. Greenwich Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior term sheet for this transaction. In addition, the information contained herein will be superseded by information contained in term sheets circulated after the date hereof and by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement.
Depositor:
Sequoia Residential Funding, Inc.
Co-Lead Managers:
Greenwich Capital Markets, Inc and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Co-Managers:
Banc of America Securities LLC and Morgan Stanley.
Master Servicer/
Securities Administrator:
Wells Fargo Bank Minnesota, National Association.
Trustee:
HSBC Bank USA.
Custodian:
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 1 of this Preliminary Term Sheet.
Cut-off Date:
November 1, 2003.
Pricing Date:
On or about November 14, 2002.
Closing Date:
On or about November 25, 2002.
Distribution Date:
The 20th day of each month (or if not a business day, the next succeeding business day), commencing in December 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 Class A and Class B-1 Certificates (collectively, the "Offered Certificates") 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 (or, in the case of the first Distribution Date, the Closing Date) and ending on the 19th day of the month (on a 30/360 basis), and with respect to the Class X 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).
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.
This information is furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities or any of its affiliates. Greenwich Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior term sheet for this transaction. In addition, the information contained herein will be superseded by information contained in term sheets circulated after the date hereof and by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement.
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 and the Class B-1 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 of the sum of 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 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 Cut-off Date of approximately $725,975,212, of adjustable rate, prime quality mortgage loans secured by first liens on one- to four-family residential properties (the"Mortgage Loans"). As of the Cut-off Date, approximately 88.47% and 11.53% 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 Cut-off Date, approximately 87.11% and 12.89% 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 or 10-year interest-only term, the mortgage loans are sch eduled to amortize on a 25-year or 15-year fully amortizing basis, respectively.
Group 1
Mortgage Loans:
The Group 1 Mortgage Loans have an aggregate principal balance as of the Cut-off Date of approximately $362,988,095, which equals approximately 50.00% of the Mortgage Loans.
As of the Cut-off Date, approximately 76.93% and 23.07% of the Group 1 Mortgage Loans are sixmonth LIBOR and one-month LIBOR indexed Mortgage Loans, respectively and approximately 81.24% and 18.76% 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 Cut-off Date of approximately $362,987,117, which equals approximately 50.00% of the Mortgage Loans.
All of the Group 2 Mortgage Loans are six-month LIBOR indexed Mortgage Loans. As of the Cut-off Date, approximately 92.98% and 7.03% of the Group 2 Mortgage Loans are scheduled to pay interest only for the first 5 years and 10 years, respectively.
This information is furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities or any of its affiliates. Greenwich Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior term sheet for this transaction. In addition, the information contained herein will be superseded by information contained in term sheets circulated after the date hereof and by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement.
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 related subordinate component.
The Class A Certificates will have a Certificate Interest Rate equal to the lesser 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 lesser 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 either of the Class A Certificates is subject to the related Net WAC Cap, such Certificates will, to the extent described below, 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"Class ANet WAC Shortfall")from related 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, to the extent described below, 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 "Class B-lNet WAC Shortfall")from related amounts on deposit in the Reserve Fund.
The"Net WAC Shortfall"isthe sum to the Class A Net WAC Shortfall and the Class B-1 Net WAC Shortfall amounts.
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 any of the Class X Certificates to the extent of any related Net WAC Shortfall amount for a related Distribution Date. The Reserve Fund will not be an asset of the REMIC. On any Distribution Date, 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, to the extent available. Any amounts remaining in the Reserve Fund after such distribution will be distributed to the related Class X Certificates.
Credit Enhancement:
Senior/subordinate, shifting interest structure.
Credit enhancement for theSenior Certificateswill consist of the subordination of the Subordinate Certificates (total subordination initially 4.25%).
Credit enhancement for theClass B-1 Certificateswill 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 2.25%).
This information is furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities or any of its affiliates. Greenwich Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior term sheet for this transaction. In addition, the information contained herein will be superseded by information contained in term sheets circulated after the date hereof and by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement.
Shifting Interest:
Until the first Distribution Date occurring after November 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 (as described in the prospectus supplement), the Subordinate Certificates will receive their pro-rata share of scheduled principal and increasing portions of unscheduled principal prepayments.
The prepayment percentages on the Subordinate Certificates are as follows:
December 2003 - November 2013
0% Pro Rata Share
December 2013 - November 2014
30% Pro Rata Share
December 2014 - November 2015
40% Pro Rata Share
December 2015 - November 2016
60% Pro Rata Share
December 2016 - November 2017
80% Pro Rata Share
December 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 Certificate (other than the Class X Certificates) 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 December 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).
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 sum of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date), the Senior Certificates (other than the Class X Certificates) will receive all unscheduled 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 balance has been reduced to zero;thereafter,to the related Class A Certificates in reduction of their Certificate principal balance.
This information is furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities or any of its affiliates. Greenwich Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the issuer or its affiliates in connection with the proposed transaction.
This Preliminary Term Sheet is provided for information purposes only, and does not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. It does not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior term sheet for this transaction. In addition, the information contained herein will be superseded by information contained in term sheets circulated after the date hereof and by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement.
Certificates Priority of
Distributions:
Available funds from the Mortgage Loans will be distributed in the following order of priority:
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 with respect to each of the LIBOR certificates, the 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, generally based on principal collected on the related Mortgage Loans, until their respective class principal amounts are reduced to zero.*
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 X Certicates, the excess amounts related to each Class X Certificate, from the Reserve Fund.
9)
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.
10)
Class A-R Certificate, any remaining amount.
* In certain limited circumstances described in the prospectus supplement, Senior Certificates may receive principal from the unrelated Mortgage Loan group, to the extent not received from the related Mortgage Loan group.
This information is furnished to you solely by Greenwich Capital Markets, Inc. ("GCM") and not by the issuer of the securities or any of its affiliates. GCM is acting as underwriter and not as agent for the issuer or its affiliates in connection with the proposed transaction.
COMPUTATIONAL MATERIALS DISCLAIMER
The attached tables and other statistical analyses (the "Computational Materials") are privileged and intended for use by the addressee only. These Computational Materials are furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities. They may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating said material.
Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected therein. As such, no assurance can be given as to the Computational Materials' accuracy, appropriateness or completeness in any particular context; nor as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice.
Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfall. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the actual underlying assets and the hypothetical underlying assets used in preparing the Computational Materials. The principal amount and designation of any security d escribed in the Computational Materials are subject to change prior to issuance. Neither Greenwich Capital Markets, Inc. nor any of its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or the payments or yield on the securities.
Although a registration statement (including the Prospectus) relating to the securities discussed in this communication has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities discussed in this communication has not been filed with Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities discussed in this communication in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the securities laws of any such state. Prospective purchasers are referred to the final prospectus supplement relating to the securities discussed in this communication which supersede these Computational Materials and any matter discussed in this communication. Once available, a final prospectus and prospectus supplement may be obtained by contacting the Greenwich Capital Markets, Inc. Trading Desk at (203) 625-6160.
Please be advised that the securities described herein may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayment, yield curve and interest rate risks. Investors should make every effort to consider the risks of these securities.
If you have received this communication in error, please notify the sending party immediately by telephone and return the original to such party by mail.
This information is furnished to you solely by Greenwich Capital Markets, Inc. ("GCM") and not by the issuer of the securities or any of its affiliates. GCM is acting as underwriter and not as agent for the issuer or its affiliates in connection with the proposed transaction.
Sensitivity Tables
Class A1 To Call
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 6.22 | 5.10 | 3.84 | 3.02 | 2.45 | 1.72 |
MDUR (yr) | 5.76 | 4.77 | 3.64 | 2.90 | 2.36 | 1.67 |
First Prin Pay | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 |
Last Prin Pa | 12/20/18 | 07/20/16 | 08/20/13 | 09/20/11 | 04/20/10 | 06/20/08 |
Class A1 To Maturity
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 6.64 | 5.50 | 4.19 | 3.31 | 2.69 | 1.89 |
MDUR (yr) | 6.09 | 5.10 | 3.94 | 3.14 | 2.58 | 1.83 |
First Prin Pay | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 |
Last Prin Pa | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 |
Class A2 To Call
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 6.19 | 5.08 | 3.83 | 3.02 | 2.45 | 1.72 |
MDUR (yr) | 5.69 | 4.73 | 3.62 | 2.88 | 2.35 | 1.67 |
First Prin Pay | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 |
Last Prin Pa | 12/20/18 | 07/20/16 | 08/20/13 | 09/20/11 | 04/20/10 | 06/20/08 |
Class A2 To Maturity
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 6.63 | 5.49 | 4.18 | 3.31 | 2.69 | 1.89 |
MDUR (yr) | 6.02 | 5.04 | 3.90 | 3.12 | 2.56 | 1.82 |
First Prin Pay | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 | 12/20/03 |
Last Prin Pa | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 |
This information is furnished to you solely by Greenwich Capital Markets, Inc. ("GCM") and not by the issuer of the securities or any of its affiliates. GCM is acting as underwriter and not as agent for the issuer or its affiliates in connection with the proposed transaction.
Class B1 To Call
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 10.40 | 8.61 | 6.54 | 5.37 | 4.58 | 3.46 |
MDUR (yr) | 9.34 | 7.86 | 6.09 | 5.05 | 4.35 | 3.32 |
First Prin Pay | 05/20/09 | 04/20/08 | 02/20/07 | 05/20/06 | 12/20/05 | 05/20/05 |
Last Prin Pa | 12/20/18 | 07/20/16 | 08/20/13 | 09/20/11 | 04/20/10 | 06/20/08 |
Class B1 To Maturity
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 11.30 | 9.46 | 7.28 | 6.03 | 5.21 | 4.04 |
MDUR (yr) | 9.99 | 8.50 | 6.68 | 5.60 | 4.88 | 3.83 |
First Prin Pay | 05/20/09 | 04/20/08 | 02/20/07 | 05/20/06 | 12/20/05 | 05/20/05 |
Last Prin Pa | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 | 10/20/33 |
This information is furnished to you solely by Greenwich Capital Markets, Inc. ("GCM") and not by the issuer of the securities or any of its affiliates. GCM is acting as underwriter and not as agent for the issuer or its affiliates in connection with the proposed transaction.
Class A-1 and Class A-2, and Class B-1 Certificates
Effective Net WAC Cap Schedule*
Assumptions:
20% CPR
To Cleanup Call
1 MO & 6MO LIBOR spike to 20% in month 1
Class A1, A2 & 131 Hard Cap of 11.50%
Distribution Period | Class A1 30-360 Net WAC Cap | Class A2 30-360 Net WAC Cap | Class 131 30-360 Net WAC Cap |
0 | |||
1 | 2.56% | 2.59% | 2.58% |
2 | 4.69% | 2.59% | 3.64% |
3 | 4.69% | 2.59% | 3.64% |
4 | 4.69% | 2.59% | 3.64% |
5 | 5.26% | 3.23% | 4.24% |
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
The Net WAC Cap= (Class
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
Total Current Balance: | $725,975,212 |
Number Of Loans: | 2,122 |
Minimum | Maximum | |||||
Average Current Balance: | $342,118 | $42,150 | $2,900,000 | |||
Average Original Balance: | $342,639 | $42,150 | $2,900,000 | |||
WAVG Loan Rate: | 2.961 | % | 1.875 | % | 3.625 | % |
WAVG Servicing Fee: | 0.375 | % | 0.375 | % | 0.375 | % |
WAVG Net Loan Rate: | 2.586 | % | 1.500 | % | 3.250 | % |
WAVG Gross Margin: | 1.880 | % | 1.250 | % | 3.000 | % |
WAVG Maximum Loan Rate: | 12.002 | % | 11.625 | % | 15.125 | % |
WAVG Periodic Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | % |
WAVG First Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | % |
WAVG Original LTV: | 68.86 | % | 12.97 | % | 100.00 | % |
WAVG Effective LTV: | 68.69 | % | 12.97 | % | 95.00 | % |
WAVG Credit Score: | 732 | 602 | 821 | |||
WAVG Original Term: | 352 | months | 300 | months | 360 | months |
WAVG Remaining Term: | 351 | months | 297 | months | 360 | months |
WAVG Seasoning: | 1 | months | 0 | months | 6 | 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 10 Original Term: | 68 | months | 60 | months | 120 | months |
WAVG 10 Remaining Term: | 67 | months | 54 | months | 119 | months |
36.39 % California, 7.43 % Florida, 5.44 % Arizona, 5.06% Georgia | ||||||
Top State Concentrations (%): | ||||||
Maximum Zip Code Concentration | .88% 94507 | |||||
First Pay Date: | Jun 01, 2003 | Dec 01, 2003 | ||||
Rate Change Date: | Sep 01, 2003 | May 01, 2004 | ||||
Mature Date: | Aug 01, 2028 | Nov 01, 2033 |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
INDEX: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
LIBOR 6 M | 1,897 | 642,247,984.70 | 88.47 % |
LIBOR I M | 225 | 83,727,227.15 | 11.53 |
Total | 2,122 | 725,975,211.85 | 100.00% |
DELINQUENCY: | Number of | Principal Balance | % of Aggregate |
Current | 2,122 | 725,975,211.85 | 100.00% |
Total | 2,122 | 725,975,211.85 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
CURRENT BALANCE ($): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
42,150.00 100,000.00 | 137 | 11,258,939.26 | 1.55 % |
100,000.01 - 200,000.00 | 586 | 88,102,705.67 | 12.14 |
200,000.01 - 300,000.00 | 474 | 118,382,682.82 | 16.31 |
300,000.01 - 400,000.00 | 295 | 103,253,063.22 | 14.22 |
400,000.01 - 500,000.00 | 252 | 114,372,571.66 | 15.75 |
500,000.01 - 600,000.00 | 116 | 63,836,246.03 | 8.79 |
600,000.01 - 700,000.00 | 86 | 55,688,879.53 | 7.67 |
700,000.01 - 800,000.00 | 67 | 50,969,582.28 | 7.02 |
800,000.01 - 900,000.00 | 30 | 25,549,778.26 | 3.52 |
900,000.00 - 1,000,000.00 | 49 | 47,788,148.62 | 6.58 |
1,000,000.01 - 1,100,000.00 | 1 | 1,067,923.24 | 0.15 |
1,100,000.01 - 1,200,000.00 | 2 | 2,400,000.00 | 0.33 |
1,200,000.01 - 1,300,000.00 | 6 | 7,500,500.00 | 1.03 |
1,300,000.01 - 1,400,000.00 | 5 | 6,820,911.36 | 0.94 |
1,400,000.01 - 1,500,000.00 | 2 | 2,940,000.00 | 0.40 |
1,500,000.01 - 1,600,000.00 | 3 | 4,720,000.00 | 0.65 |
1,600,000.01 - 1,700,000.00 | 4 | 6,694,000.00 | 0.92 |
1,800,000.01 - 1,900,000.00 | 2 | 3,729,279.90 | 0.51 |
1,900,000.01 - 2,000,000.00 | 4 | 8,000,000.00 | 1.10 |
2,800,000.01 - 2,900,000.00 | 1 | 2,900,000.00 | 0.40 |
Total | 2,122 | 725,975,211.85 | 100.00% |
LOAN RATE (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
1.875 - 2.000 | 6 | 1,581,498.00 | 0.22% |
2.001 - 2.500 | 181 | 64,589,628.43 | 8.90 |
2.501 - 3.000 | 1,065 | 356,187,633.56 | 49.06 |
3.001 - 3.500 | 869 | 303,311,451.86 | 41.78 |
3.501 - 3.625 | 1 | 305,000.00 | 0.04 |
Total | 2,122 | 725,975,211.85 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
GROSS MARGIN (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
1.250 | 19 | 5,677,990.97 | 0.78% |
1.375 | 26 | 6,845,370.25 | 0.94 |
1.500 | 165 | 59,492,135.72 | 8.19 |
1.625 | 304 | 116,444,376.59 | 16.04 |
1.750 | 251 | 90,026,683.20 | 12.40 |
1.875 | 374 | 109,991,765.93 | 15.15 |
2.000 | 533 | 179,719,869.21 | 24.76 |
2.125 | 193 | 69,233,157.98 | 9.54 |
2.250 | 256 | 88,434,662.00 | 12.18 |
3.000 | 1 | 109,200.00 | 0.02 |
Total | 2,122 | 725,975,211.85 | 100.00% |
ORIGINAL TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
300 | 223 | 93,597,720.22 | 12.89% |
360 | 1,899 | 632,377,491.63 | 87.11 |
Total | 2,122 | 725,975,211.85 | 100.00% |
REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
297 -300 | 223 | 93,597,720.22 | 12.89% |
349 -354 | 2 | 886,971.06 | 0.12 |
355 -360 | 1,897 | 631,490,520.57 | 86.99 |
Total | 2,122 | 725,975,211.85 | 100.00% |
IO REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
54 - 54 | 2 | 886,971.06 | 0.12% |
55 - 60 | 1,897 | 631,490,520.57 | 86.99 |
115 -119 | 223 | 93,597,720.22 | 12.89 |
Total | 2,122 | 725,975,211.85 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
RATE CHANGE DATE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
09/01/03 | 3 | 1,195,385.53 | 0.16% |
10/01/03 | 19 | 5,474,543.89 | 0.75 |
11/01/03 | 177 | 68,207,468.79 | 9.40 |
12/01/03 | 31 | 10,496,550.00 | 1.45 |
01/01/04 | 10 | 5,202,524.29 | 0.72 |
01/27/04 | 1 | 119,962.40 | 0.02 |
02/01/04 | 37 | 12,071,046.15 | 1.66 |
03/01/04 | 482 | 171,787,803.13 | 23.66 |
04/01/04 | 988 | 318,454,527.67 | 43.87 |
05/01/04 | 374 | 132,965,400.00 | 18.32 |
Total | 2,122 | 725,975,211.85 | 100.00% |
ORIGINAL LTV (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | |
12.97 | - 20.00 | 8 | 1,547,099.99 | 0.21 % |
20.01 | - 30.00 | 38 | 9,386,728.44 | 1.29 |
30.01 | - 40.00 | 73 | 25,761,488.72 | 3.55 |
40.01 | - 50.00 | 115 | 38,138,599.47 | 5.25 |
50.01 | - 60.00 | 210 | 84,530,285.09 | 11.64 |
60.01 | - 70.00 | 436 | 174,793,977.44 | 24.08 |
70.01 | - 80.00 | 1,104 | 363,085,227.63 | 50.01 |
80.01 | - 90.00 | 65 | 13,672,608.00 | 1.88 |
90.01 | -100.00 | 73 | 15,059,197.07 | 2.07 |
Total | 2,122 | 725,975,211.85 | 100.00 % |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
EFFECTIVE LTV (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
12.97 - 20.00 | 8 | 1,547,099.99 | 0.21% |
20.01 - 30.00 | 38 | 9,386,728.44 | 1.29 |
30.01 - 40.00 | 73 | 25,761,488.72 | 3.55 |
40.01 - 50.00 | 116 | 38,838,599.47 | 5.35 |
50.01 - 60.00 | 211 | 84,910,285.09 | 11.70 |
60.01 - 70.00 | 445 | 177,535,723.17 | 24.45 |
70.01 - 80.00 | 1,104 | 363,085,227.63 | 50.01 |
80.01 - 90.00 | 63 | 12,666,608.00 | 1.74 |
90.01 - 95.00 | 64 | 12,243,451.34 | 1.69 |
Total | 2,122 | 725,975,211.85 | 100.00 % |
CREDIT SCORE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
602 -619 | 5 | 2,849,800.00 | 0.39 % |
620 -639 | 8 | 4,299,449.98 | 0.59 |
640 -659 | 47 | 13,556,129.62 | 1.87 |
660 -679 | 172 | 59,234,667.09 | 8.16 |
680 -699 | 270 | 93,571,101.57 | 12.89 |
700 -719 | 302 | 107,973,255.66 | 14.87 |
720 -739 | 317 | 106,478,112.19 | 14.67 |
740 -759 | 341 | 124,886,170.53 | 17.20 |
760 -779 | 372 | 120,270,066.00 | 16.57 |
780 -799 | 225 | 77,438,394.68 | 10.67 |
>= 800 | 63 | 15,418,064.53 | 2.12 |
Total | 2,122 | 725,975,211.85 | 100.00 % |
AMORTIZATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Interest Only | 2,122 | 725,975,211.85 | 100.00% |
Total | 2,122 | 725,975,211.85 | 100.00 % |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
DOCUMENTATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Full Documentation | 1,417 | 442,741,211.27 | 60.99% |
Limited Documentation | 483 | 190,266,180.36 | 26.21 |
Alternative Documentation | 122 | 59,539,639.64 | 8.20 |
Lite Documentation | 77 | 27,195,340.92 | 3.75 |
No Ratio Documentation | 22 | 5,742,863.62 | 0.79 |
Asset, No Income Documentation | 1 | 489,976.04 | 0.07 |
Total | 2,122 | 725,975,211.85 | 100.00% |
OCCUPANCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Primary | 1,933 | 667,766,540.72 | 91.98 % |
Second Home | 140 | 48,422,834.06 | 6.67 |
Investor | 49 | 9,785,837.07 | 1.35 |
Total | 2,122 | 725,975,211.85 | 100.00 % |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
PROPERTY TYPE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Single Family | 1,286 | 446,886,495.37 | 61.56% |
Planned Unit Development | 611 | 206,430,403.26 | 28.43 |
Condominium | 204 | 64,660,616.15 | 8.91 |
Two-Four Family | 16 | 5,744,172.40 | 0.79 |
Cooperative | 5 | 2,253,524.67 | 0.31 |
Total | 2,122 | 725,975,211.85 | 100.00% |
PURPOSE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Refinance (Rate or Term) | 977 | 311,170,286.86 | 42.86 % |
Purchase | 547 | 218,298,964.82 | 30.07 |
Refinance (Cash-Out) | 598 | 196,505,960.17 | 27.07 |
Total | 2,122 | 725,975,211.85 | 100.00 % |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Total Collateral - Mortgage Loans
As of the Cut-Off Date
STATES: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | ||
California | 596 | 264,178,762.30 | 36.39% | ||
Florida | 156 | 53,968,588.27 | 7.43 | ||
Arizona | 161 | 39,501,330.29 | 5.44 | ||
Georgia | 119 | 36,723,776.51 | 5.06 | ||
Texas | 114 | 30,321,251.75 | 4.18 | ||
Colorado | 99 | 27,009,027.67 | 3.72 | ||
North Carolina | 110 | 26,632,967.57 | 3.67 | ||
Washington | 98 | 24,882,319.99 | 3.43 | ||
New York | 44 | 22,989,697.35 | 3.17 | ||
Ohio | 123 | 22,752,616.62 | 3.13 | ||
New Jersey | 54 | 22,654,907.09 | 3.12 | ||
Massachusetts | 40 | 22,067,862.75 | 3.04 | ||
Virginia | 62 | 16,621,604.67 | 2.29 | ||
Illinois | 41 | 16,293,637.41 | 2.24 | ||
South Carolina | 37 | 14,615,577.97 | 2.01 | ||
Maryland | 38 | 13,226,802.89 | 1.82 | ||
Pennsylvania | 31 | 10,381,772.07 | 1.43 | ||
Nevada | 30 | 10,255,557.16 | 1.41 | ||
Tennessee | 22 | 7,571,783.74 | 1.04 | ||
Connecticut | 11 | 6,991,999.99 | 0.96 | ||
Oregon | 20 | 6,125,860.11 | 0.84 | ||
Utah | 18 | 4,404, 861.32 | 0.61 | ||
Montana | 5 | 3,329,999.99 | 0.46 | ||
Michigan | 19 | 3,277,019.84 | 0.45 | ||
Minnesota | 8 | 2,522,175.20 | 0.35 | ||
Idaho | 4 | 2,513,500.00 | 0.35 | ||
Indiana | 12 | 2,278,936.54 | 0.31 | ||
District of Columbia | 6 | 2,015,000.00 | 0.28 | ||
Arkansas | 4 | 1,518,000.00 | 0.21 | ||
Missouri | 6 | 1,393,999.98 | 0.19 | ||
Oklahoma | 7 | 1,101,342.58 | 0.15 | ||
Rhode Island | 2 | 807,700.00 | 0.11 | ||
New Mexico | 2 | 775,499.98 | 0.11 | ||
Kansas | 4 | 774,898.75 | 0.11 | ||
Wisconsin | 2 | 611,499.99 | 0.08 | ||
New Hampshire | 3 | 531,932.29 | 0.07 | ||
Hawaii | 2 | 519,966.02 | 0.07 | ||
Louisiana | 4 | 464,649.99 | 0.06 | ||
Kentucky | 1 | 341,000.00 | 0.05 | ||
Alabama | 2 | 277,995.00 | 0.04 | ||
Alaska | 1 | 248, 898.85 | 0.03 | ||
Wyoming | 1 | 187,000.00 | 0.03 | ||
South Dakota | 1 | 135,500.00 | 0.02 | ||
West Virginia | 1 | 100,140.06 | 0.01 | ||
Nebraska | 1 | 75,991.30 | 0.01 | ||
Total | 2,122 | 725,975,211.85 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 1 Collateral
As of the Cut-Off Date
Total Current Balance: Number Of Loans: | $362,988,095 1,033 |
Minimum | Maximum | |||||
Average Current Balance: | $351,392 | $42,150 | $2,900,000 | |||
Average Original Balance: | $351,807 | $42,150 | $2,900,000 | |||
Weighted Average Loan Rate: | 2.947 | % | 2.000 | % | 3.625 | % |
Weighted Average Servicing Fee: | 0.375 | % | 0.375 | % | 0.375 | % |
Weighted Average Net Loan Rate: | 2.572 | % | 1.625 | % | 3.250 | % |
Weighted Average Gross Margin: | 1.867 | % | 1.250 | % | 3.000 | % |
Weighted Average Maximum Loan Rate: | 11.999 | % | 11.750 | % | 12.000 | % |
Weighted Average Periodic Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | % |
Weighted Average First Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | % |
Weighted Average Original LTV: | 68.51 | % | 12.97 | % | 100.00 | % |
Weighted Average Effective LTV: | 68.26 | % | 12.97 | % | 95.00 | % |
Weighted Average Credit Score: | 732 | 602 | 821 | |||
Weighted Average Original Term: | 349 | months | 300 | months | 360 | months |
Weighted Average Remaining Term: | 348 | months | 298 | months | 360 | months |
Weighted Average Seasoning: | 1 | months | 0 | months | 6 | months |
Weighted Average Next Rate Reset: | 4 | months | 1 | months | 6 | months |
Weighted Average Rate Adj Freq: | 5 | months | 1 | months | 6 | months |
Weighted Average First Rate Adj Freq: | 5 | months | 1 | months | 6 | months |
Weighted Average 10 Original Term: | 71 | months | 60 | months | 120 | months |
Weighted Average 10 Remaining Term: | 70 | months | 54 | months | 119 | months |
Top State Concentrations (%): | 35.94 % California, 8.69 % Florida, 6.26 % Arizona | |
Maximum Zip Code Concentration | 1.22% 94941 | |
First Pay Date: | Jun 01, 2003 | Dec 01, 2003 |
Rate Change Date: | Sep 01, 2003 | May 01, 2004 |
Mature Date: | Sep 01, 2028 | Nov 01, 2033 |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 1 Collateral
As of the Cut-Off Date
INDEX: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
LIBOR 6M | 808 | 279,260,867.97 | 76.93 % |
LIBOR 1M | 225 | 83,727,227.15 | 23.07 |
Total | 1,033 | 362,988,095.12 | 100.00 % |
DELINQUENCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Current | 1,033 | 362,988,095.12 | 100.00 % |
Total | 1,033 | 362,988,095.12 | 100.00% |
CURRENT BALANCE ($): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | |
42,150.00 | - 100,000.00 | 71 | 5,783,961.79 | 1.59 % |
100,000.01 | - 200,000.00 | 271 | 40,812,884.89 | 11.24 |
200,000.01 | - 300,000.00 | 219 | 55,038,102.60 | 15.16 |
300,000.01 | - 400,000.00 | 152 | 53,181,075.33 | 14.65 |
400,000.01 | - 500,000.00 | 129 | 58,220,968.44 | 16.04 |
500,000.01 | - 600,000.00 | 51 | 27,933,278.98 | 7.70 |
600,000.01 | - 700,000.00 | 50 | 32,165,309.59 | 8.86 |
700,000.01 | - 800,000.00 | 32 | 24,402,393.43 | 6.72 |
800,000.01 | - 900,000.00 | 14 | 11,963,198.00 | 3.30 |
900,000.01 | -1,000,000.00 | 26 | 25,499,510.71 | 7.02 |
1,200,000.01 | - 1,300,000.00 | 6 | 7,500,500.00 | 2.07 |
1,300,000.01 | -1,400,000.00 | 4 | 5,496,911.36 | 1.51 |
1,400,000.01 | - 1,500,000.00 | 1 | 1,440,000.00 | 0.40 |
1,500,000.01 | - 1,600,000.00 | 2 | 3,120,000.00 | 0.86 |
1,600,000.01 | - 1,700,000.00 | 1 | 1,680,000.00 | 0.46 |
1,800,000.01 | - 1,900,000.00 | 1 | 1,850,000.00 | 0.51 |
1,900,000.01 | - 2,000,000.00 | 2 | 4,000,000.00 | 1.10 |
2,800,000.01 | - 2,900,000.00 | 1 | 2,900,000.00 | 0.80 |
Total | 1,033 | 362,988,095.12 | 100.00 % |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 1 Collateral
As of the Cut-Off Date
LOAN RATE (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
2.000 - 2.000 | 3 | 603,498.00 | 0.17% |
2.001 - 2.500 | 85 | 29,138,531.20 | 8.03 |
2.501 - 3.000 | 537 | 186,685,711.62 | 51.43 |
3.001 - 3.500 | 407 | 146,255,354.30 | 40.29 |
3.501 - 3.625 | 1 | 305,000.00 | 0.08 |
Total | 1,033 | 362,988,095.12 | 100.00% |
GROSS MARGIN ($): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
1.250 | 8 | 2,123,747.98 | 0.59% |
1.375 | 8 | 1,503,800.00 | 0.41 |
1.500 | 135 | 49,238,187.98 | 13.56 |
1.625 | 130 | 52,057,128.76 | 14.34 |
1.750 | 117 | 43,460,590.52 | 11.97 |
1.875 | 167 | 49,225,246.44 | 13.56 |
2.000 | 249 | 86,448,025.43 | 23.82 |
2.125 | 100 | 35,333,418.01 | 9.73 |
2.250 | 118 | 43,488,750.00 | 11.98 |
3.000 | 1 | 109,200.00 | 0.03 |
Total | 1,033 | 362,988,095.12 | 100.00% |
ORIGINAL TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
300 | 159 | 68,094,269.03 | 18.76% |
360 | 874 | 294,893,826.09 | 81.24 |
Total | 1,033 | 362,988,095.12 | 100.00% |
REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
298 –300 | 159 | 68,094,269.03 | 18.76% |
349 -354 | 1 | 466,560.00 | 0.13 |
355 -360 | 873 | 294,427,266.09 | 81.11 |
Total | 1,033 | 362,988,095.12 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 1 Collateral
As of the Cut-Off Date
IO REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
54 - 54 | 1 | 466,560.00 | 0.13% |
55 - 60 | 873 | 294,427,266.09 | 81.11 |
115 -119 | 159 | 68,094,269.03 | 18.76 |
Total | 1,033 | 362,988,095.12 | 100.00% |
RATE CHANGE DATE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | |
09/01/03 | 3 | 1,195,385.53 | 0.33% | |
10/01/03 | 19 | 5,474,543.89 | 1.51 | |
11/01/03 | 176 | 67,787,057.73 | 18.67 | |
12/01/03 | 29 | 9,875,800.00 | 2.72 | |
01/01/04 | 2 | 1,322,000.00 | 0.36 | |
02/01/04 | 15 | 5,359,059.99 | 1.48 | |
03/01/04 | 204 | 73,009,807.34 | 20.11 | |
04/01/04 | 421 | 140,565,890.64 | 38.72 | |
05/01/04 | 164 | 58,398,550.00 | 16.09 | |
Total | 1,033 | 362,988,095.12 | 100.00% |
ORIGINAL LTV (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | ||
12.97 | - 20.00 | 3 | 424,949.99 | 0.12% | |
20.01 | - 30.00 | 21 | 6,142,656.62 | 1.69 | |
30.01 | - 40.00 | 39 | 14,930,316.53 | 4.11 | |
40.01 | - 50.00 | 57 | 18,665,033.75 | 5.14 | |
50.01 | - 60.00 | 108 | 43,267,709.92 | 11.92 | |
60.01 | - 70.00 | 224 | 91,128,019.21 | 25.10 | |
70.01 | - 80.00 | 506 | 172,417,752.19 | 47.50 | |
80.01 | - 90.00 | 32 | 7,323,786.36 | 2.02 | |
90.01 | - 100.00 | 43 | 8,687,870.55 | 2.39 | |
Total | 1,033 | 362,988,095.12 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any
.
EFFECTIVE LTV (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | |
12.97 | 20.00 | 3 | 424,949.99 | 0.12% |
20.01 | 30.00 | 21 | 6,142,656.62 | 1.69 |
30.01 | 40.00 | 39 | 14,930,316.53 | 4.11 |
40.01 | 50.00 | 58 | 19,365,033.75 | 5.33 |
50.01 | 60.00 | 108 | 43,267,709.92 | 11.92 |
60.01 | 70.00 | 230 | 93,357,019.21 | 25.72 |
70.01 | 80.00 | 506 | 172,417,752.19 | 47.50 |
80.01 | 90.00 | 30 | 6,317,786.36 | 1.74 |
90.01 | 95.00 | 38 | 6,764,870.55 | 1.86 |
Total | 1,033 | 362,988,095.12 | 100.00% |
CREDIT SCORE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
602 -619 | 3 | 2,458,000.00 | 0.68% |
620 -639 | 6 | 2,984,949.99 | 0.82 |
640 -659 | 26 | 7,150,611.94 | 1.97 |
660 -679 | 70 | 25,679,921.28 | 7.07 |
680 -699 | 133 | 47,546,758.55 | 13.10 |
700 -719 | 147 | 56,262,666.57 | 15.50 |
720 -739 | 154 | 51,440,596.19 | 14.17 |
740 -759 | 169 | 62,992,207.53 | 17.35 |
760 -779 | 184 | 61,338,965.45 | 16.90 |
780 -799 | 110 | 37,839,326.78 | 10.42 |
>= 800 | 31 | 7,294,090.84 | 2.01 |
Total | 1,033 | 362,988,095.12 | 100.00% |
AMORTIZATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | %of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Interest Only | 1,033 | 362,988,095.12 | 100.00% |
Total | 1,033 | 362,988,095.12 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 1 Collateral
As of the Cut-Off Date
DOCUMENTATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Full Documentation | 644 | 201,445,892.52 | 55.50% |
Limited Documentation | 230 | 93,447,933.57 | 25.74 |
Alternative Documentation | 84 | 44,254,691.20 | 12.19 |
Lite Documentation | 60 | 19,882,829.20 | 5.48 |
No Ratio Documentation | 14 | 3,466,772.59 | 0.96 |
Asset, No Income Documentation | 1 | 489,976.04 | 0.13 |
Total | 1,033 | 362,988,095.12 | 100.00% |
OCCUPANCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Primary | 930 | 328,106,385.48 | 90.39% |
Second Home | 77 | 29,416,202.45 | 8.10 |
Investor | 26 | 5,465,507.19 | 1.51 |
Total | 1,033 | 362,988,095.12 | 100.00% |
PROPERTY TYPE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Single Family | 605 | 214,247,251.03 | 59.02% |
Planned Unit Development | 302 | 107,831,987.96 | 29.71 |
Condominium | 112 | 35,104,659.06 | 9.67 |
Two-Four Family | 10 | 3,981,922.40 | 1.10 |
Cooperative | 4 | 1,822,274.67 | 0.50 |
Total | 1,033 | 362,988,095.12 | 100.00% |
PURPOSE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Refinance (Rate or Term) | 477 | 154,700,803.79 | 42.62% |
Purchase | 249 | 104,445,255.76 | 28.77 |
Refinance (Cash-Out) | 307 | 103,842,035.57 | 28.61 |
Total | 1,033 | 362,988,095.12 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 1 Collateral
As of the Cut-Off Date
STATES: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | ||
California | 291 | 130,471,709.22 | 35.94% | ||
Florida | 85 | 31,550,444.56 | 8.69 | ||
Arizona | 85 | 22,735,655.58 | 6.26 | ||
Colorado | 57 | 15,990,803.11 | 4.41 | ||
Georgia | 48 | 14,926,629.33 | 4.11 | ||
North Carolina | 60 | 13,969,070.77 | 3.85 | ||
Texas | 49 | 12,922,568.77 | 3.56 | ||
New York | 22 | 12,279,351.41 | 3.38 | ||
Massachusetts | 21 | 12,118,115.41 | 3.34 | ||
Washington | 47 | 11,060,525.44 | 3.05 | ||
New Jersey | 26 | 11,005,222.25 | 3.03 | ||
Illinois | 22 | 9,816,780.15 | 2.70 | ||
South Carolina | 20 | 8,976,216.12 | 2.47 | ||
Ohio | 46 | 7,631,289.18 | 2.10 | ||
Virginia | 27 | 6,769,107.50 | 1.86 | ||
Pennsylvania | 18 | 6,633,057.33 | 1.83 | ||
Tennessee | 14 | 5,546,062.42 | 1.53 | ||
Maryland | 17 | 5,465,204.97 | 1.51 | ||
Connecticut | 4 | 3,549,999.99 | 0.98 | ||
Nevada | 10 | 3,343,327.78 | 0.92 | ||
Oregon | 9 | 2,611,738.68 | 0.72 | ||
Montana | 2 | 2,095,000.00 | 0.58 | ||
Utah | 10 | 2,015,499.99 | 0.56 | ||
Minnesota | 5 | 1,418,501.50 | 0.39 | ||
Arkansas | 3 | 1,246,000.00 | 0.34 | ||
District of Columbia | 3 | 1,219,200.00 | 0.34 | ||
Oklahoma | 6 | 993,361.45 | 0.27 | ||
Idaho | 2 | 906,000.00 | 0.25 | ||
Michigan | 6 | 732,515.91 | 0.20 | ||
Indiana | 4 | 543,700.00 | 0.15 | ||
Rhode Island | 1 | 451,550.00 | 0.12 | ||
New Hampshire | 2 | 387,200.00 | 0.11 | ||
Kansas | 2 | 381,200.00 | 0.11 | ||
Alabama | 2 | 277,995.00 | 0.08 | ||
Missouri | 2 | 248,000.00 | 0.07 | ||
New Mexico | 1 | 200,000.00 | 0.06 | ||
Wyoming | 1 | 187,000.00 | 0.05 | ||
Wisconsin | 1 | 139,500.00 | 0.04 | ||
Louisiana | 1 | 97,000.00 | 0.03 | ||
Nebraska | 1 | 75,991.30 | 0.02 | ||
Total | 1,033 | 362,988,095.12 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 2 Collateral
As of the Cut-Off Date
Total Current Balance: | $362,987,117 |
Number Of Loans: | 1,089 |
Minimum | Maximum | |||||
Average Current Balance: | $333,322 | $51,000 | $2,000,000 | |||
Average Original Balance: | $333,941 | $51,000 | $2,000,000 | |||
Weighted Average Loan Rate: | 2.974 | % | 1.875 | % | 3.500 | |
Weighted Average Servicing Fee: | 0.375 | % | 0.375 | % | 0.375 | |
Weighted Average Net Loan Rate: | 2.599 | % | 1.500 | % | 3.125 | |
Weighted Average Gross Margin: | 1.892 | % | 1.250 | % | 2.250 | |
Weighted Average Maximum Loan Rate: | 12.005 | % | 11.625 | % | 15.125 | |
Weighted Average Periodic Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | |
Weighted Average First Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | |
Weighted Average Original LTV: | 69.21 | % | 15.00 | % | 100.00 | |
Weighted Average Effective LTV: | 69.12 | % | 15.00 | % | 95.00 | |
Weighted Average Credit Score: | 732 | 606 | 819 | |||
Weighted Average Original Term: | 356 | months | 300 | months | 360 | |
Weighted Average Remaining Term: | 355 | months | 297 | months | 360 | |
Weighted Average Seasoning: | 1 | months | 0 | months | 6 | |
Weighted Average Next Rate Reset: | 5 | months | 1 | months | 6 | |
Weighted Average Rate Adj Freq: | 6 | months | 6 | months | 6 | |
Weighted Average First Rate Adj Freq: | 6 | months | 6 | months | 6 | |
Weighted Average 10 Original Term: | 64 | months | 60 | months | 120 | months |
Weighted Average 10 Remaining Term: | 63 | months | 54 | months | 118 | months |
Top State Concentrations (%):
36.84 % California, 6.18 % Florida, 6.00 % Georgia
Maximum Zip Code Concentration (%):
1.26% 94583
First Pay Date:
Jun 01, 2003
Dec 01, 2003
Rate Change Date:
Nov 01, 2003
May 01, 2004
Mature Date:
Aug 01, 2028
Nov 01, 2033
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 2 Collateral
As of the Cut-Off Date
INDEX: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
LIBOR 6 M | 1,089 | 362,987,116.73 | 100.00% |
Total | 1,089 | 362,987,116.73 | 100.00 % |
DELINQUENCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Current | 1,089 | 362,987,116.73 | 100.00% |
Total | 1,089 | 362,987,116.73 | 100.00% |
CURRENT BALANCE ($): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | |
51,000.00 - | 100,000.00 | 66 | 5,474,977.47 | 1.51 % |
100,000.01 | - 200,000.00 | 315 | 47,289,820.78 | 13.03 |
200,000.01 | - 300,000.00 | 255 | 63,344,580.22 | 17.45 |
300,000.01 | - 400,000.00 | 143 | 50,071,987.89 | 13.79 |
400,000.01 | - 500,000.00 | 123 | 56,151,603.22 | 15.47 |
500,000.01 | - 600,000.00 | 65 | 35,902,967.05 | 9.89 |
600,000.01 | - 700,000.00 | 36 | 23,523,569.94 | 6.48 |
700,000.01 | - 800,000.00 | 35 | 26,567,188.85 | 7.32 |
800,000.01 | - 900,000.00 | 16 | 13,586,580.26 | 3.74 |
900,000.01 | - 1,000,000.00 | 23 | 22,288,637.91 | 6.14 |
1,000,000.01 | -1,100,000.00 | 1 | 1,067,923.24 | 0.29 |
1,100,000.01 | -1,200,000.00 | 2 | 2,400,000.00 | 0.66 |
1,300,000.01 | - 1,400,000.00 | 1 | 1,324,000.00 | 0.36 |
1,400,000.01 | - 1,500,000.00 | 1 | 1,500,000.00 | 0.41 |
1,500,000.01 | -1,600,000.00 | 1 | 1,600,000.00 | 0.44 |
1,600,000.01 | -1,700,000.00 | 3 | 5,014,000.00 | 1.38 |
1,800,000.01 | - 1,900,000.00 | 1 | 1,879,279.90 | 0.52 |
1,900,000.01 | - 2,000,000.00 | 2 | 4,000,000.00 | 1.10 |
Total | 1,089 | 362,987,116.73 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 2 Collateral
As of the Cut-Off Date
LOAN RATE (%): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
1.875 - 2.000 | 3 | 978,000.00 | 0.27% |
2.001 - 2.500 | 96 | 35,451,097.23 | 9.77 |
2.501 - 3.000 | 528 | 169,501,921.94 | 46.70 |
3.001 - 3.500 | 462 | 157,056,097.56 | 43.27 |
Total | 1,089 | 362,987,116.73 | 100.00% |
GROSS MARGIN (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | %of Aggregate Principal Balance Outstanding as of the Cutoff Date |
1.250 | 11 | 3,554,242.99 | 0.98% |
1.375 | 18 | 5,341,570.25 | 1.47 |
1.500 | 30 | 10,253,947.74 | 2.82 |
1.625 | 174 | 64,387,247.83 | 17.74 |
1.750 | 134 | 46,566,092.68 | 12.83 |
1.875 | 207 | 60,766,519.49 | 16.74 |
2.000 | 284 | 93,271,843.78 | 25.70 |
2.125 | 93 | 33,899,739.97 | 9.34 |
2.250 | 138 | 44,945,912.00 | 12.38 |
Total | 1,089 | 362,987,116.73 | 100.00% |
ORIGINAL TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
300 | 64 | 25,503,451.19 | 7.03% |
360 | 1,025 | 337,483,665.54 | 92.97 |
Total | 1,089 | 362,987,116.73 | 100.00% |
REMAINING TERM (Months): | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
297 -300 | 64 | 25,503,451.19 | 7.03% |
349 -354 | 1 | 420,411.06 | 0.12 |
355 -360 | 1,024 | 337,063,254.48 | 92.86 |
Total | 1,089 | 362,987,116.73 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 2 Collateral
As of the Cut-Off Date
10 REMAINING TERM (Months): | Number of MortgageLoans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the CutoffDate |
54 - 54 | 1 | 420,411.06 | 0.12 % |
55 - 60 | 1,024 | 337,063,254.48 | 92.86 |
115 -118 | 64 | 25,503,451.19 | 7.03 |
Total | 1,089 | 362,987,116.73 | 100.00% |
RATE CHANGE DATE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the CutoffDate |
11/01/03 | 1 | 420,411.06 | 0.12 % |
12/01/03 | 2 | 620,750.00 | 0.17 |
01/01/04 | 8 | 3,880,524.29 | 1.07 |
01/27/04 | 1 | 119,962.40 | 0.03 |
02/01/04 | 22 | 6,711,986.16 | 1.85 |
03/01/04 | 278 | 98,777,995.79 | 27.21 |
04/01/04 | 567 | 177,888,637.03 | 49.01 |
05/01/04 | 210 | 74,566,850.00 | 20.54 |
Total | 1,089 | 362,987,116.73 | 100.00% |
ORIGINAL LTV (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the CutoffDate | |
15.00 | - 20.00 | 5 | 1,122,150.00 | 0.31 % |
20.01 | - 30.00 | 17 | 3,244,071.82 | 0.89 |
30.01 | - 40.00 | 34 | 10,831,172.19 | 2.98 |
40.01 | - 50.00 | 58 | 19,473,565.72 | 5.36 |
50.01 | - 60.00 | 102 | 41,262,575.17 | 11.37 |
60.01 | - 70.00 | 212 | 83,665,958.23 | 23.05 |
70.01 | - 80.00 | 598 | 190,667,475.44 | 52.53 |
80.01 | - 90.00 | 33 | 6,348,821.64 | 1.75 |
90.01 | -100.00 | 30 | 6,371,326.52 | 1.76 |
Total | 1,089 | 362,987,116.73 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 2 Collateral
As of the Cut-Off Date
EFFECTIVE LTV (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | |
15.00 - | 20.00 | 5 | 1,122,150.00 | 0.31% |
20.01 - | 30.00 | 17 | 3,244,071.82 | 0.89 |
30.01 - | 40.00 | 34 | 10,831,172.19 | 2.98 |
40.01 - | 50.00 | 58 | 19,473,565.72 | 5.36 |
50.01 - | 60.00 | 103 | 41,642,575.17 | 11.47 |
60.01 - | 70.00 | 215 | 84,178,703.96 | 23.19 |
70.01 - | 80.00 | 598 | 190,667,475.44 | 52.53 |
80.01 - | 90.00 | 33 | 6,348,821.64 | 1.75 |
90.01 - | 95.00 | 26 | 5,478,580.79 | 1.51 |
Total | 1,089 | 362,987,116.73 | 100.00% |
CREDIT SCORE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
606 -619 | 2 | 391,800.00 | 0.11% |
620 -639 | 2 | 1,314,499.99 | 0.36 |
640 -659 | 21 | 6,405,517.68 | 1.76 |
660 -679 | 102 | 33,554,745.81 | 9.24 |
680 -699 | 137 | 46,024,343.02 | 12.68 |
700 -719 | 155 | 51,710,589.09 | 14.25 |
720 -739 | 163 | 55,037,516.00 | 15.16 |
740 -759 | 172 | 61,893,963.00 | 17.05 |
760 -779 | 188 | 58,931,100.55 | 16.24 |
780 -799 | 115 | 39,599,067.90 | 10.91 |
>= 800 | 32 | 8,123,973.69 | 2.24 |
Total | 1,089 | 362,987,116.73 | 100.00% |
AMORTIZATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | %of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Interest Only | 1,089 | 362,987,116.73 | 100.00% |
Total | 1,089 | 362,987,116.73 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 2 Collateral
As of the Cut-Off Date
DOCUMENTATION: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Full Documentation | 773 | 241,295,318.75 | 66.47 % |
Limited Documentation | 253 | 96,818,246.79 | 26.67 |
Alternative Documentation | 38 | 15,284,948.44 | 4.21 |
Lite Documentation | 17 | 7,312,511.72 | 2.01 |
No Ratio Documentation | 8 | 2,276,091.03 | 0.63 |
Total | 1,089 | 362,987,116.73 | 100.00% |
OCCUPANCY: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | %of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Primary | 1,003 | 339,660,155.24 | 93.57 % |
Second Home | 63 | 19,006,631.61 | 5.24 |
Investor | 23 | 4,320,329.88 | 1.19 |
Total | 1,089 | 362,987,116.73 | 100.00% |
PROPERTY TYPE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Single Family | 681 | 232,639,244.34 | 64.09 % |
Planned Unit Development | 309 | 98,598,415.30 | 27.16 |
Condominium | 92 | 29,555,957.09 | 8.14 |
Two-Four Family | 6 | 1,762,250.00 | 0.49 |
Cooperative | 1 | 431,250.00 | 0.12 |
Total | 1,089 | 362,987,116.73 | 100.00% |
PURPOSE: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | %of Aggregate Principal Balance Outstanding as of the Cutoff Date |
Refinance (Rate or Term) | 500 | 156,469,483.07 | 43.11% |
Purchase | 298 | 113,853,709.06 | 31.37 |
Refinance (Cash-Out) | 291 | 92,663,924.60 | 25.53 |
Total | 1,089 | 362,987,116.73 | 100.00% |
The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein.
The information contained herein will be superseded by the description of the mortgage loans contained in the prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
Sequoia Mortgage Trust 2003-7
Group 2 Collateral
As of the Cut-Off Date
STATES: | Number of Mortgage Loans | Principal Balance Outstanding as of the Cutoff Date | % of Aggregate Principal Balance Outstanding as of the Cutoff Date | ||
California | 305 | 133,707,053.08 | 36.84% | ||
Florida | 71 | 22,418,143.71 | 6.18 | ||
Georgia | 71 | 21,797,147.18 | 6.00 | ||
Texas | 65 | 17,398,682.98 | 4.79 | ||
Arizona | 76 | 16,765,674.71 | 4.62 | ||
Ohio | 77 | 15,121,327.44 | 4.17 | ||
Washington | 51 | 13,821,794.55 | 3.81 | ||
North Carolina | 50 | 12,663,896.80 | 3.49 | ||
New Jersey | 28 | 11,649,684.84 | 3.21 | ||
Colorado | 42 | 11,018,224.56 | 3.04 | ||
New York | 22 | 10,710,345.94 | 2.95 | ||
Massachusetts | 19 | 9,949,747.34 | 2.74 | ||
Virginia | 35 | 9,852,497.17 | 2.71 | ||
Maryland | 21 | 7,761,597.92 | 2.14 | ||
Nevada | 20 | 6,912,229.38 | 1.90 | ||
Illinois | 19 | 6,476, 857.26 | 1.78 | ||
South Carolina | 17 | 5,639,361.85 | 1.55 | ||
Pennsylvania | 13 | 3,748,714.74 | 1.03 | ||
Oregon | 11 | 3,514,121.43 | 0.97 | ||
Connecticut | 7 | 3,442,000.00 | 0.95 | ||
Michigan | 13 | 2,544,503.93 | 0.70 | ||
Utah | 8 | 2,389,361.33 | 0.66 | ||
Tennessee | 8 | 2,025,721.32 | 0.56 | ||
Indiana | 8 | 1,735,236.54 | 0.48 | ||
Idaho | 2 | 1,607,500.00 | 0.44 | ||
Montana | 3 | 1,234,999.99 | 0.34 | ||
Missouri | 4 | 1,145,999.98 | 0.32 | ||
Minnesota | 3 | 1,103,673.70 | 0.30 | ||
District of Columbia | 3 | 795,800.00 | 0.22 | ||
New Mexico | 1 | 575,499.98 | 0.16 | ||
Hawaii | 2 | 519,966.02 | 0.14 | ||
Wisconsin | 1 | 471,999.99 | 0.13 | ||
Kansas | 2 | 393,698.75 | 0.11 | ||
Louisiana | 3 | 367,649.99 | 0.10 | ||
Rhode Island | 1 | 356,150.00 | 0.10 | ||
Kentucky | 1 | 341,000.00 | 0.09 | ||
Arkansas | 1 | 272,000.00 | 0.07 | ||
Alaska | 1 | 248,898.85 | 0.07 | ||
New Hampshire | 1 | 144,732.29 | 0.04 | ||
South Dakota | 1 | 135,500.00 | 0.04 | ||
Oklahoma | 1 | 107,981.13 | 0.03 | ||
West Virginia | 1 | 100,140.06 | 0.03 | ||
Total | 1,089 | 362,987,116.73 | 100.00% |