![]() | Bear, Stearns & Co. Inc. |
ATLANTA • BOSTON • CHICAGO | Asset-Backed Securities Group |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 |
LONDON • PARIS • TOKYO | (212) 272-2000 |
Part I of II
New Issue Computational Materials
$819,087,000 (Approximate)
Impac Secured Assets Corp.,
Mortgage Pass-Through Certificates, Series 2006-2
![](https://capedge.com/proxy/FWP/0001144204-06-026593/impac_logo.jpg)
Impac Funding Corporation
Seller and Master Servicer
Impac Secured Assets Corp.
Depositor
June 22, 2006
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | Bear, Stearns & Co. Inc. |
ATLANTA • BOSTON • CHICAGO | Asset-Backed Securities Group |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 |
LONDON • PARIS • TOKYO | (212) 272-2000 |
STATEMENT REGARDING FREE WRITING PROSPECTUS
The issuer has filed a registration statement (File No. 333-131328) (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll free 1-866-803-9204.
This free writing prospectus does not contain all information that is required to be included in the base prospectus and the prospectus supplement.
The information contained in this free writing prospectus (the “Information”) is preliminary and is subject to completion or change.
The Information in this free writing prospectus supersedes information contained in any prior similar free writing prospectus relating to these securities prior to the time of your commitment to purchase.
This free writing prospectus is not an offer to sell or solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.
The securities referred to in this free writing prospectus are being sold when, as and if issued. The issuer is not obligated to issue such securities or any similar security and our obligation to deliver such securities is subject to the terms and conditions of our underwriting agreement with the issuer and the availability of such security when, as and if issued by the issuer. You are advised that the terms of the securities, and the characteristics of the mortgage loan pool backing them, may change (due, among other things, to the possibility that mortgage loans that comprise the pool may become delinquent or defaulted or may be removed or replaced and that similar or different mortgage loans may be added to the pool, and that one or more classes of securities may be split, combined or eliminated), at any time prior to issuance or availability of a final prospectus. You are advised that securities may not be issued that have the characteristics described in this free writing prospectus. Our obligation to sell such securities to you is conditioned on the mortgage loans and certificates having the characteristics described in the preliminary prospectus. If for any reason we do not deliver such securities, we will notify you, and neither the issuer nor any underwriter will have any obligation to you to deliver all or any portion of the securities which you have committed to purchase, and none of the issuer nor any underwriter will be liable for any costs or damages whatsoever arising from or related to such non-delivery.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS
Any legends, disclaimers or other notices that may appear with this communication to which this free writing prospectus is attached relating to:
(1) | these materials not constituting an offer (or a solicitation of an offer), |
(2) | representations that these materials are not accurate or complete and may not be updated, or |
(3) | these materials possibly being confidential, |
are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | Bear, Stearns & Co. Inc. |
ATLANTA • BOSTON • CHICAGO | Asset-Backed Securities Group |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 |
LONDON • PARIS • TOKYO | (212) 272-2000 |
SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION
The Information contained in the attached materials may include various forms of performance analysis, security characteristics and securities pricing estimates for the securities described therein. Should you receive Information that refers to the “Statement Regarding Assumptions and Other Information”, please refer to this statement instead. The Information is illustrative and is not intended to predict actual results which may differ substantially from those reflected in the Information. Performance analysis is based on certain assumptions with respect to significant factors that may prove not to be as assumed. Performance results are based on mathematical models that use inputs to calculate results. As with all models, results may vary significantly depending upon the value given to the inputs. Inputs to these models include but are not limited to: prepayment expectations (econometric prepayment models, single expected lifetime prepayments or a vector of periodic prepayments), interest rate assumptions (parallel and nonparallel changes for different maturity instruments), collateral assumptions (actual pool level data, aggregated pool level data, reported factors or imputed factors), volatility assumptions (historically observed or implied current) and reported information (paydown factors, rate resets, remittance reports and trustee statements). Models used in any analysis may be proprietary, the results therefore, may be difficult for any third party to reproduce. Contact your registered representative for detailed explanations of any modeling techniques employed in the Information.
The Information may not reflect the impact of all structural characteristics of the security, including call events and cash flow priorities at all prepayment speeds and/or interest rates. You should consider whether the behavior of these securities should be tested using assumptions different from those included in the Information. The assumptions underlying the Information, including structure and collateral, may be modified from time to time to reflect changed facts and circumstances. Offering Documents contain data that is current as of their publication dates and after publication may no longer be accurate, complete or current. Contact your registered representative for offering documents, current Information or additional materials, including other models for performance analysis, which are likely to produce different results, and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent our view, at the time determined, of the investment value of the securities between the estimated bid and offer levels, the spread between which may be significant due to market volatility or illiquidity, (b) do not constitute a bid by Bear Stearns or any other person for any security, (c) may not constitute prices at which the securities could have been purchased or sold in any market at any time, (d) have not been confirmed by actual trades, may vary from the value Bear Stearns assigns or may be assigned to any such security while in its inventory, and may not take into account the size of a position you have in the security, and (e) may have been derived from matrix pricing that uses data relating to other securities whose prices are more readily ascertainable to produce a hypothetical price based on the estimated yield spread relationship between the securities.
General Information: Bear Stearns and/or individuals associated therewith may have positions in these securities while the Information is circulating or during such period may engage in transactions with the issuer or its affiliates. We act as principal in transactions with you, and accordingly, you must determine the appropriateness for you of such transactions and address any legal, tax or accounting considerations applicable to you. Bear Stearns shall not be a fiduciary or advisor unless we have agreed in writing to receive compensation specifically to act in such capacities. If you are subject to ERISA, the Information is being furnished on the condition that it will not form a primary basis for any investment decision.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 1 of 47
$819,087,000 (Approximate)
Characteristics of the Certificates (1) (2) (3)
Class | Original Principal Balance | Coupon | Tranche Type | WAL to call (years) | Principal Window (mos.) | Last Scheduled Payment Date | Expected Ratings (S&P/Mdy’s) |
1-A1-1 | $314,000,000 | (4)(5) | Super Senior | 2.47 | 1 - 66 | 8/25/36 | AAA/Aaa |
1-A1-2 | 34,889,000 | (4)(5) | Support Senior | 2.47 | 1 - 66 | 8/25/36 | AAA/Aaa |
1-A2-A | 80,583,000 | (4)(5) | Senior Sequential | 1.00 | 1 - 21 | 8/25/36 | AAA/Aaa |
1-A2-B | 84,483,000 | (4)(5) | Senior Sequential | 3.00 | 21 - 61 | 8/25/36 | AAA/Aaa |
1-A2-C | 25,234,000 | (4)(5) | Senior Sequential | 5.42 | 61 - 66 | 8/25/36 | AAA/Aaa |
1-M-1 | 11,404,000 | (4)(5) | Mezzanine | 4.14 | 38 - 66 | 8/25/36 | AA+/Aa1 |
1-M-2 | 7,310,000 | (4)(5) | Mezzanine | 4.13 | 37 - 66 | 8/25/36 | AA/Aa2 |
1-M-3 | 4,678,000 | (4)(5) | Mezzanine | 4.12 | 37 - 66 | 8/25/36 | AA-/Aa3 |
1-M-4 | 2,924,000 | (4)(5) | Mezzanine | 4.12 | 37 - 66 | 8/25/36 | A+/A1 |
1-M-5 | 2,924,000 | (4)(5) | Mezzanine | 4.12 | 37 - 66 | 8/25/36 | A/A2 |
1-M-6 | 2,924,000 | (4)(5) | Mezzanine | 4.11 | 37 - 66 | 8/25/36 | A-/A3 |
1-M-7 | 2,924,000 | (4)(5) | Mezzanine | 4.07 | 37 - 65 | 8/25/36 | BBB+/Baa1 |
1-M-8 | 2,924,000 | (4)(5) | Mezzanine | 3.96 | 37 - 62 | 8/25/36 | BBB/Baa2 |
1-B | 2,924,000 | (4)(5) | Subordinate | 3.56 | 37 - 54 | 8/25/36 | BBB-/Baa3 |
2-A-1 | $174,425,000 | (4)(5) | Super Senior | 4.45 | 1 - 113 | 8/25/36 | AAA/Aaa |
2-A-2 | 29,652,000 | (4)(5) | Support Senior | 4.45 | 1 - 113 | 8/25/36 | -- /Aaa |
2-M-1 | 8,970,000 | (4)(5) | Mezzanine | 9.20 | 105 - 113 | 8/25/36 | -- / Aa2 |
2-M-2 | 10,466,000 | (4)(5) | Mezzanine | 8.60 | 96 - 113 | 8/25/36 | -- / A2 |
2-M-3 | 12,708,000 | (4)(5) | Mezzanine | 8.20 | 90 - 113 | 8/25/36 | -- / Baa2 |
2-B-1 | 2,741,000 | (4)(5) | Subordinate | 8.02 | 89 - 113 | 8/25/36 | -- / Baa3 |
2-B-2 | 4,236,000 | (4)(5) | Subordinate | NOT OFFERED HEREBY | -- / Ba2 | ||
Total | $823,323,000 |
Notes:
(1) | The (i) Class 1-A1-1, Class 1-A1-2, Class 1-A2-A, Class 1-A2-B, Class 1-A2-C, Class 2-A-1 and Class 2-A-2 Certificates (collectively, the “Class A Certificates”) and (ii) Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8, Class 2-M-1, Class 2-M-2 and Class 2-M-3 Certificates (collectively, the “Class M Certificates”) and (iii) and the Class 1-B, Class 2-B-1 and Class 2-B-2 Certificates (together, the “Class B Certificates” and, together with the Class M Certificates, the “Subordinate Certificates”). The Class A Certificates and the Subordinate Certificates are collectively referred to herein as the “Certificates.” | |
(2) | The Certificates are subject to a +/-5% variance. | |
(3) | Based on the collateral prepayment assumptions described under “Pricing Prepayment Speed” herein, and priced to call. | |
(4) | The Pass-Through Rate for each Class of Certificates (other than the Class 2-B-2 Certificates) will be equal to the least of (a) one-month LIBOR plus the margin for such Class, (b) 11.50% per annum and (c) the applicable Net WAC Rate. The Pass-Through Rate for the Class 2-B-2 Certificates will be equal to the least of (a) the applicable per annum fixed rate and (b) the applicable Net WAC Rate. | |
(5) | The Offered Certificates will be priced to the call. In the event that an optional clean-up call does not occur on the earliest possible date, (i) the margin for the Class A Certificates will increase by 2x, (ii) the margin for the Subordinate Certificates (other than the Class 2-B-2 Certificates) will increase by 1.5x and (iii) the coupon for the Class 2-B-2 Certificates will increase by 0.50% per annum. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 2 of 47
Trust: | Mortgage Pass-Through Certificates, Series 2006-2. |
Depositor: | Impac Secured Assets Corp. |
Seller: | Impac Funding Corporation. |
Master Servicer: | Impac Funding Corporation. |
Sub-Servicers: | Countrywide Home Loans Servicing LP will act as initial sub-servicer with respect to approximately [97.48]% of the Group 1 Mortgage Loans. On or about [September 1, 2006], the sub-servicing of the Group 1 Mortgage Loans will transfer to GMAC Mortgage Corporation. On or about [September 1, 2006], the sub-servicing for approximately [1.81]% of the Group 1 Mortgage Loans will transfer to GMAC Mortgage Corporation from various other sub-servicers. |
Midland Loan Services, Inc. will sub-service the Group 2 Mortgage Loans. | |
Lead Manager: | Bear, Stearns & Co. Inc. |
Co-Managers: | Countrywide Securities Corporation. |
Merrill Lynch & Co. | |
Trustee: | Deutsche Bank National Trust Company. |
Swap Provider: | [________________]. The Swap Provider will be rated at least “A” by Standard and Poor’s and at least “A2” by Moody’s Investors Service. |
Certificates: | The (i) Class 1-A1-1, Class 1-A1-2, Class 1-A2-A, Class 1-A2-B and Class 1-A2-C Certificates (collectively, the “Class 1-A Certificates”), (ii) Class 2-A-1 and Class 2-A-2 Certificates (together, the “Class 2-A Certificates” and together with the Class 1-A Certificates, the “Class A Certificates”), (iii) Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7 and Class 1-M-8 Certificates (collectively, the “Class 1-M Certificates”), (iv) Class 2-M-1, Class 2-M-2 and Class 2-M-3 Certificates (collectively, the “Class 2-M Certificates” and, together with the Class 1-M Certificates, the “Class M Certificates”), (v) Class 1-B Certificates and (vi) Class 2-B-1 and Class 2-B-2 Certificates (collectively, the “Class 2-B Certificates” and, together with the “Class 1-B Certificates”, the “Class B Certificates”, and together with the “Class M Certificates”, the “Subordinate Certificates”). The Class A Certificates and the Subordinate Certificates are collectively referred to herein as the “Certificates.” |
Offered Certificates: | The Class 1-A1-1, Class 1-A1-2, Class 1-A2-A, Class 1-A2-B, Class 1-A2-C, Class 2-A-1, Class 2-A-2, Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8, Class 1-B, Class 2-M-1, Class 2-M-2, Class 2-M-3, Class 2-B-1 Certificates are collectively referred to herein as the “Offered Certificates.” |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 3 of 47
Non-Offered Certificates: | The “Non-Offered Certificates” consist of the Class 1-C, Class 1-P, Class 2-C, Class 2-P, Class 2-B-2 and Class R Certificates. The Offered Certificates and Non-Offered Certificates are collectively referred to herein as the “Certificates.” |
Group 2 Adjustable Rate | |
Certificates: | The “Group 2 Adjustable Rate Certificates” consist of the Class 2-A, Class 2-M and Class 2-B-1 Certificates. |
Group 2 Fixed Rate | |
Certificates: | The “Group 2 Fixed Rate Certificates” consist of the Class 2-B-2 Certificates. |
Registration: | Book-Entry form, same day funds through DTC, Clearstream and Euroclear. |
Tax Status: | 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 eligible for purchase by employee benefit plans and similar plans and arrangements that are subject to Title I of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended, that qualify under an investor-based prohibited transaction class exemption, as described in the prospectus. |
SMMEA Treatment: | The Class 1-A, Class 1-M, Class 1-B, Class 2-M (other than the Class 2-M-1 Certificates) and Class 2-B Certificates will not constitute “mortgage related securities” for purposes of SMMEA. The Class 2-A and Class 2-M-1 are expected to constitute “mortgage related securities” for the purpose of SMMEA. |
Sample Pool Calculation Date: | June 1, 2006. |
Cut-off Date: | For each Mortgage Loan delivered to the Trust on the Closing Date, the later of June 1, 2006 or the origination date of such Mortgage Loan. The Trust will be entitled to all payments due after June 1, 2006. |
Expected Pricing Date: | June 22, 2006. |
Expected Closing Date: | June 29, 2006. |
Payment Date: | The 25th day of each month (or, if such day is not a business day, the next succeeding business day) commencing in July 2006. |
Accrued Interest: | The Certificates (other than the Group 2 Fixed Rate Certificates) will settle flat. The Group 2 Fixed Rate Certificates will settle with accrued interest. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 4 of 47
Interest Accrual Period: | The “Interest Accrual Period” for each Distribution Date with respect to the Certificates (other than the Group 2 Fixed Rate Certificates) will be the period beginning with the previous Distribution Date (or, in the case of the first Distribution Date, the Closing Date) and ending on the day prior to such Distribution Date (on an actual/360 day basis). The Group 2 Fixed Rate Certificates will accrue interest on a 30/360 day basis with 24 delay days. |
Group 1 | |
Optional Call: | The terms of the transaction allow for a clean-up call (the “Group 1 Clean-up Call”), which may be exercised once the aggregate principal balance of the Group 1 Mortgage Loans is less than or equal to 10% of the aggregate principal balance of the Group 1 Mortgage Loans as of the Cut-off Date. |
Group 2 | |
Optional Call: | The terms of the transaction allow for a clean-up call (the “Group 2 Clean-up Call”), which may be exercised once the aggregate principal balance of the Group 2 Mortgage Loans is less than or equal to 10% of the aggregate principal balance of the Group 2 Mortgage Loans as of the Cut-off Date. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 5 of 47
Pricing Prepayment Speed: | The Offered Certificates will be priced based on the following collateral prepayment assumptions: |
Group 1 Prepayment Speed: |
Fixed Rate Mortgage Loans | |
100% PPC, which assumes 23% HEP (i.e., prepayments start at 2.3% CPR in month one, and increase by 2.3% CPR each month to 23% CPR in month ten, and remain at 23% CPR thereafter). |
Adjustable Rate and 2 Year Fixed/28 Year Adjustable Rate Mortgage Loans | |
100% PPC, which assumes 2% CPR in month 1, an additional 1/11th of 28% CPR for each month thereafter, building to 30% CPR in month 12 and remaining constant at 30% CPR until month 24, increasing to and remaining constant at 65% CPR from month 25 until month 31, decreasing 1/4th of 30% CPR for each month thereafter, decreasing to 35% CPR in month 35 and remaining constant at 35% CPR from month 35 and thereafter. |
3 Year Fixed/27 Year Adjustable Rate Hybrid Mortgage Loans | |
100% PPC, which assumes 2% CPR in month 1, an additional 1/11th of 28% CPR for each month thereafter, building to 30% CPR in month 12 and remaining constant at 30% CPR until month 36, increasing to and remaining constant at 65% CPR from month 37 until month 43, decreasing 1/4th of 30% CPR for each month thereafter, decreasing to 35% CPR in month 47 and remaining constant at 35% CPR from month 35 and thereafter. |
5, 7 & 10 Year Fixed/25, 23 & 20 Year Adjustable Rate Mortgage Loans | |
100% PPC, which assumes 2% CPR in month 1, an additional 1/11th of 28% CPR for each month thereafter, building to 30% CPR in month 12 and remaining constant at 30% CPR until month 60, increasing to and remaining constant at 65% CPR from month 61 until month 67, decreasing 1/4th of 30% CPR for each month thereafter, decreasing to 35% CPR in month 71 and remaining constant at 35% CPR from month 35 and thereafter. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 6 of 47
Group 2 Prepayment Speed:
100% PPC, which assumes, no prepayments in the first 12 months after the origination date of such mortgage loan, 10% CPR in the second 12 month period, 15% CPR in the third 12 month period, 25% CPR in the fourth 12 month period and 30% CPR thereafter; provided, however, that with respect to approximately $76,962,429 of Group 2 Mortgage Loans, the prepayment vector will assume no prepayments for the first 60 months after the origination date of such mortgage loan and 30% CPR thereafter.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 7 of 47
Mortgage Loans: | The Trust will include mortgage loans (the “Mortgage Loans”) having an aggregate principal balance as of the Sample Pool Calculation Date (the “Sample Pool Calculation Date Balance”) of approximately $833,982,010, of which (a) $584,803,153 are fixed-rate and adjustable-rate mortgage loans secured by first liens and second liens on the related mortgaged properties (the “Group 1 Mortgage Loans”) and (b) $249,178,857 are adjustable-rate mortgage loans secured by first liens on multifamily properties (the “Group 2 Mortgage Loans”). The Mortgage Loans have the characteristics as of the Sample Pool Calculation Date described in the collateral tables included in this free writing prospectus. |
The collateral tables included in this free writing prospectus as Appendix A represent a sample pool of Mortgage Loans (the “Sample Pool”) having the characteristics described therein as of the Sample Pool Calculation Date, and do not include additional Mortgage Loans expected to be included in the Trust on the Closing Date. The final pool of Mortgage Loans to be included in the Trust will be different from the Sample Pool, although the characteristics of such final pool will not materially differ from the characteristics of the Sample Pool as indicated herein. | |
Pass-Through Rate: | The Pass-Through Rate for each class of Certificates (other than the Group 2 Fixed Rate Certificates) will be equal to the least of (a) one-month LIBOR plus the margin for such class, (b) 11.50% per annum and (c) the applicable Net WAC Rate. The Pass-Through Rate for the Group 2 Fixed Rate Certificates will be equal to the lesser of (a) the applicable per annum fixed rate for such class and (b) the applicable Net WAC Rate. |
Group 1 Net | |
WAC Rate: | With respect to the Class 1-A, Class 1-M and Class 1-B Certificates and any distribution date, a per annum rate equal to the excess, if any, of (A) a per annum rate equal to the group 1 net mortgage rate over (B) the sum of (1) a per annum rate equal to the Net Swap Payment with respect to the Group 1 Swap Contract payable to the Swap Provider on such distribution date, divided by the outstanding Stated Principal Balance of the Group 1 Mortgage Loans as of the first day of the calendar month preceding the month in which the distribution date occurs, multiplied by 12, and (2) a per annum rate equal to any Swap Termination Payment with respect to the Group 1 Swap Contract not due to a Swap Provider Trigger Event payable to the Swap Provider on such distribution date, divided by the outstanding Stated Principal Balance of the Group 1 Mortgage Loans as of the first day of the calendar month preceding the month in which the distribution date occurs, multiplied by 12. The Group 1 Net WAC Rate will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 8 of 47
Group 2 Net WAC | |
Rate: | With respect to the Class 2-A, Class 2-M and Class 2-B Certificates any distribution date, a per annum rate equal to the excess, if any, of (A) a per annum rate equal to the group 2 net mortgage rate over (B) the sum of (1) a per annum rate equal to the Net Swap Payment with respect to the Group 2 Swap Contract payable to the Swap Provider on such distribution date, divided by the outstanding Stated Principal Balance of the Group 2 Mortgage Loans as of the first day of the calendar month preceding the month in which the distribution date occurs, multiplied by 12, and (2) a per annum rate equal to any Swap Termination Payment with respect to the Group 2 Swap Contract not due to a Swap Provider Trigger Event payable to the Swap Provider on such distribution date, divided by the outstanding Stated Principal Balance of the Group 2 Mortgage Loans as of the first day of the calendar month preceding the month in which the distribution date occurs, multiplied by 12. With respect to the Group 2 Adjustable Rate Certificates the Group 2 Net WAC Rate will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. |
Net WAC Rate | |
Shortfall: | Any shortfalls in interest payments on a Class A, Class M or Class B Certificates resulting from the excess, if any, of (a) interest accrued on the related Certificates at one-month LIBOR plus the related margin (up to the maximum rate of 11.50% per annum) over (b) interest accrued on the related Certificates at the related Net WAC Rate (any such shortfalls, “Net WAC Rate Shortfalls”), on each Distribution Date, plus unpaid Net WAC Rate Shortfalls from prior Distribution Dates to be paid in the current month or carried forward for payment on subsequent Distribution Dates, together with interest thereon at the Pass-Through Rate for the current Distribution Date, to the extent of amounts available from Excess Cash Flow, as described under “Certificates Priority of Distribution” below. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 9 of 47
Swap Contracts: | The Certificateholders (other than the Group 2 Fixed Rate Certificates) will benefit from two Swap Contracts with notional amounts and swap rates set forth on pages 45 and 46 of this free writing prospectus. |
Group 1 Swap Contract | |
The Group 1 Certificateholders will benefit from the Group 1 Swap Agreement with notional amounts and swap rate set forth on pages 45 of this free writing prospectus. Under the Group 1 Swap Agreement, on or before each Distribution Date commencing with the Distribution Date in July 2006 and ending with the Distribution Date in June 2011, the Trust shall be obligated to pay the Group I Swap Provider a fixed amount for such Distribution Date equal to the product of (x) a fixed per annum rate for such Distribution Date as set forth on page 45 of this free writing prospectus, (y) the notional amount for such Distribution Date as set forth on page 45 of this free writing prospectus, and (z) a fraction, the numerator of which is 30 (or, for the first Distribution Date, the number of days elapsed from and including the Effective Date (as defined in the Group 1 Swap Agreement) to but excluding the first Distribution Date, determined on a 30/360 basis) and the denominator of which is 360, and (ii) the Swap Provider will be required to pay to the Trust a floating amount for such Distribution Date equal to product of (x) One-Month LIBOR as determined pursuant to the Group 1 Swap Agreement, (y) the notional amount for such Distribution Date as set forth on page 45 of this free writing prospectus, and (z) a fraction, the numerator of which is equal to the actual number of days in the related Calculation Period (as defined in the Group 1 Swap Agreement) and the denominator of which is 360. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 10 of 47
Group 2 Swap Contract
The Group 2 Adjustable Rate Certificateholders will benefit from the Group 2 Swap Agreement with notional amounts and swap rate set forth on pages 46 of this free writing prospectus. Under the Group 2 Swap Agreement, on or before each Distribution Date commencing with the Distribution Date in July 2006 and ending with the Distribution Date in May 2016, the Trust shall be obligated to pay the Group I Swap Provider a fixed amount for such Distribution Date equal to the product of (x) a fixed per annum rate for such Distribution Date as set forth on page 46 of this free writing prospectus, (y) the notional amount for such Distribution Date as set forth on page 46 of this free writing prospectus, and (z) a fraction, the numerator of which is 30 (or, for the first Distribution Date, the number of days elapsed from and including the Effective Date (as defined in the Group 2 Swap Agreement) to but excluding the first Distribution Date, determined on a 30/360 basis) and the denominator of which is 360, and (ii) the Swap Provider will be required to pay to the Trust a floating amount for such Distribution Date equal to product of (x) One-Month LIBOR as determined pursuant to the Group 2 Swap Agreement, (y) the notional amount for such Distribution Date as set forth on page 46 of this free writing prospectus, and (z) a fraction, the numerator of which is equal to the actual number of days in the related Calculation Period (as defined in the Group 2 Swap Agreement) and the denominator of which is 360.
Under each Swap Agreement described above, only the related net amount of the two obligations will be paid by the appropriate party (the “Net Swap Payment”) on each Distribution Date. Generally, any Net Swap Payment due to the Swap Provider on any Distribution Date will be paid prior to distributions to the related certificateholders. Generally, the related Net Swap Payment will be deposited into a swap account (the “Swap Account”) by the swap administrator pursuant to the swap administration agreement, and amounts on deposit in the related Swap Account will be distributed in accordance with the terms set forth in the swap administration agreement. Upon early termination of a Swap Agreement, the Trust or the Swap Provider may be obligated to make a termination payment (the ‘‘Swap Termination Payment’’) to the other party, regardless of which party caused the termination. The related Swap Termination Payment will be computed in accordance with the procedures set forth in the related Swap Agreement. In the event that the Trust is required to make a Swap Termination Payment, such amount generally will be paid on the related Distribution Date and on any subsequent Distribution Date until paid in full, prior to distributions to certificateholders (other than Swap Termination Payments attributable to a Swap Provider trigger event). The entitlement to certain payments from the Swap Account, as described above, and not the Swap Agreements themselves will be assets of the Trust.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 11 of 47
Credit Enhancement: | The Trust will include the following credit enhancement mechanisms, each of which is intended to provide credit support for some or all of the Offered Certificates, as the case may be: |
1) Subordination
2) Overcollateralization
3) Excess Cashflow
4) Swap Contracts
Group 1 Certificates
Class | S&P / Moody’s | Subordination (at closing; as a % of Original Pool Balance) | Subordination (after Stepdown Date; as a % of Current Pool Balance) |
1-A1-1* | AAA/Aaa | 7.80% | 15.60% |
1-A1-2 | AAA/Aaa | 7.80% | 15.60% |
1-A2-A | AAA/Aaa | 7.80% | 15.60% |
1-A2-B | AAA/Aaa | 7.80% | 15.60% |
1-A2-C | AAA/Aaa | 7.80% | 15.60% |
1-M-1 | AA+/Aa1 | 5.85% | 11.70% |
1-M-2 | AA/Aa2 | 4.60% | 9.20% |
1-M-3 | AA-/Aa3 | 3.80% | 7.60% |
1-M-4 | A+/A1 | 3.30% | 6.60% |
1-M-5 | A/A2 | 2.80% | 5.60% |
1-M-6 | A-/A3 | 2.30% | 4.60% |
1-M-7 | BBB+/Baa1 | 1.80% | 3.60% |
1-M-8 | BBB/Baa2 | 1.30% | 2.60% |
1-B | BBB-/Baa3 | 0.80% | 1.60% |
*Excludes the subordination provided by Class 1-A1-2.
Group 2 Certificates
Class | S&P / Moody’s | Subordination (at closing; as a % of Original Pool Balance) | Subordination (after Stepdown Date; as a % of Current Pool Balance) |
2-A-1* | AAA /Aaa | 18.10% | 38.80% |
2-A-2 | --- /Aaa | 18.10% | 38.80% |
2-M-1 | ----/Aa2 | 14.50% | 31.60% |
2-M-2 | ----/A2 | 10.30% | 23.20% |
2-M-3 | ---/Baa2 | 5.20% | 13.00% |
2-B-1 | ----/Baa3 | 4.10% | 10.80% |
2-B-2 | ----/Ba2 | 2.40% | 7.40% |
*Excludes the subordination provided by Class 2-A-2.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 12 of 47
Subordination: | Group 1 Certificates |
The Class 1-M Certificates and Class 1-B Certificates will be subordinate to, and provide credit support for, the Class 1-A Certificates. Among the Class 1-M Certificates and Class 1-B Certificates, subordination will rank in priority from highest to lowest in the following order: Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, with each subsequent class providing credit support for the prior class or classes, if any. In addition, the Class 1-A1-2 Certificates will serve as credit support for the Class 1-A1-1 Certificates. | |
Group 2 Certificates | |
The Class 2-M Certificates and Class 2-B Certificates will be subordinate to, and provide credit support for, the Class 2-A Certificates. Among the Class 2-M Certificates and Class 2-B Certificates, subordination will rank in priority from highest to lowest in the following order: Class 2-M-1, Class 2-M-2, Class 2-M-3, Class 2-B-1 and Class 2-B-2 Certificates, with each subsequent class providing credit support for the prior class or classes, if any. In addition, the Class 2-A-2 Certificates will serve as credit support for the Class 2-A-1 Certificates. | |
Group 1 | |
Overcollateralization: | With respect to any Distribution Date, the outstanding principal balance of the Group 1 Mortgage Loans as of the last day of the related Due Period less the aggregate Certificate Principal Balance of the Class 1-A, Class 1-M and Class 1-B Certificates (after taking into account all distributions of principal on such Distribution Date). |
Any realized losses on the Group 1 Mortgage Loans will be covered first by the related Excess Cashflow and then by the Group 1 Overcollateralization, if any. If the Group 1 Overcollateralization is thereafter reduced, the related Excess Cashflow will be directed to pay principal on the related Certificates, resulting in the limited acceleration of the related Certificates relative to the amortization of the Group 1 Mortgage Loans, until the Group 1 Overcollateralization reaches the Group 1 Overcollateralization Target. Upon this event, the acceleration feature will cease, unless the amount of Group 1 Overcollateralization is reduced below the Group 1 Overcollateralization Target by realized losses. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 13 of 47
Group 2 | |
Overcollateralization: | With respect to any Distribution Date, the outstanding principal balance of the Group 2 Mortgage Loans as of the last day of the related Due Period less the aggregate Certificate Principal Balance of the Class 2-A, Class 2-M and Class 2-B Certificates (after taking into account all distributions of principal on such Distribution Date). |
Any realized losses on the Group 2 Mortgage Loans will be covered first by the related Excess Cashflow and then by the Group 2 Overcollateralization, if any. If the Group 2 Overcollateralization is thereafter reduced, the related Excess Cashflow will be directed to pay principal on the related Certificates, resulting in the limited acceleration of the related Certificates relative to the amortization of the Group 2 Mortgage Loans, until the Group 2 Overcollateralization reaches the Group 2 Overcollateralization Target. Upon this event, the acceleration feature will cease, unless the amount of Group 2 Overcollateralization is reduced below the Group 2 Overcollateralization Target by realized losses. | |
Overcollateralization | Group 1 Mortgage Loans |
Target: | For each Distribution Date prior to the Group 1 Stepdown Date, 0.80% of the aggregate principal balance of the Group 1 Mortgage Loans as of the Cut-off Date (the “Group 1 Overcollateralization Target”). The initial amount of Group 1 Overcollateralization will be approximately 0.80%. |
On or after the Group 1 Stepdown Date, the Group 1 Overcollateralization Target will be equal to 1.60% of the aggregate principal balance of the Group 1 Mortgage Loans for the related Distribution Date, subject to a floor of 0.50% (the “O/C Floor”) of the aggregate principal balance of the Group 1 Mortgage Loans as of the Cut-off Date; provided, however, that if a Group 1 Trigger Event (as described herein) is in effect on the related Distribution Date, the Group 1 Overcollateralization Target will be equal to the Group 1 Overcollateralization Target on the prior Distribution Date. | |
Group 2 Mortgage Loans | |
For each Distribution Date prior to the Group 2 Stepdown Date, 3.70% of the aggregate principal balance of the Group 2 Mortgage Loans as of the Cut-off Date (the “Group 2 Overcollateralization Target”). The initial amount of Group 2 Overcollateralization will be approximately 2.40%. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 14 of 47
On or after the Group 2 Stepdown Date, the Group 2 Overcollateralization Target will be equal to 7.40% of the aggregate principal balance of the Group 2 Mortgage Loans for the related Distribution Date, subject to a floor of 0.50% (the “O/C Floor”) of the aggregate principal balance of the Group 2 Mortgage Loans as of the Cut-off Date; provided, however, that if a Group 2 Trigger Event (as described herein) is in effect on the related Distribution Date, the Group 2 Overcollateralization Target will be equal to the Group 2 Overcollateralization Target on the prior Distribution Date. | |
Group 1 Excess | |
Cashflow: | “Group 1 Excess Cashflow” for any Distribution Date will be equal to the available funds for the Group 1 Mortgage Loans remaining after related interest and principal distributions on the Group 1 Certificates (not including the Class 1-C, Class 1-P and Class R Certificates) as described under “Certificates Priority of Distributions.” |
Group 2 Excess | |
Cashflow: | “Group 2 Excess Cashflow” for any Distribution Date will be equal to the available funds for Group 2 Mortgage Loans remaining after related interest and principal distributions on the Group 2 Certificates (not including the Class 2-C, Class 2-P and Class R Certificates) as described under “Certificates Priority of Distributions.” |
Trigger Event: | A “Trigger Event” will be in effect on a Distribution Date on or after the related Stepdown Date if either (or both) a Delinquency Trigger or a Cumulative Loss Trigger is in effect on such Distribution Date. |
Group 1 | |
Trigger Event: | “Group 1 Trigger Event” will be in effect on a Distribution Date on or after the Group 1 Stepdown Date if either (or both) a Group 1 Delinquency Trigger or a Group 1 Cumulative Loss Trigger is in effect on such Distribution Date. |
Group 2 | |
Trigger Event: | “Group 2 Trigger Event” will be in effect on a Distribution Date on or after the Group 2 Stepdown Date if either (or both) a Group 2 Delinquency Trigger or a Group 2 Cumulative Loss Trigger is in effect on such Distribution Date. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 15 of 47
Group 1 | |
Delinquency Trigger: | With respect to the related Certificates, a “Delinquency Trigger” will occur if the three month rolling average 60+ day delinquency percentage (including bankruptcy, foreclosures, and REO) for the outstanding Group 1 Mortgage Loans equals or exceeds [40.00]% times the related Senior Enhancement Percentage. As used above, the “Senior Enhancement Percentage” with respect to any Distribution Date is the percentage equivalent of a fraction, the numerator of which is equal to: (a) the excess of (i) the aggregate Stated Principal Balance of the Group 1 Mortgage Loans for the preceding Distribution Date, over (ii) the aggregate Certificate Principal Balance of the most senior class or classes of related Certificates as of the preceding master servicer advance date, and the denominator of which is equal to (b) the aggregate Stated Principal Balance of the Group 1 Mortgage Loans for the preceding Distribution Date. |
Group 1 | |
Cumulative Loss | |
Trigger: | With respect to the related Certificates, a “Cumulative Loss Trigger” will occur if the aggregate amount of realized losses on the related Mortgage Loans exceeds the applicable percentage of the aggregate principal balance of the related Mortgage Loans as of the Cut-off Date, as set forth below: |
Period (month) | Percentage | |
25 - 36 | [0.30]% with respect to July 2008, plus an additional 1/12th of [0.40]% for each month thereafter | |
37 - 48 | [0.70]% with respect to July 2009, plus an additional 1/12th of [0.55]% for each month thereafter | |
49 - 60 | [1.25]% with respect to July 2010, plus an additional 1/12th of [0.55]% for each month thereafter | |
61 - 72 | [1.80]% with respect to July 2011, plus an additional 1/12th of [0.35]% for each month thereafter | |
73+ | [2.15]% |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 16 of 47
Group 2 | |
Delinquency Trigger: | With respect to the related Certificates, a “Delinquency Trigger” will occur if the three month rolling average 60+ day delinquency percentage (including bankruptcy, foreclosure, and REO) for the outstanding Group 2 Mortgage Loans equals or exceeds [14.00]% of the aggregate Stated Principal Balance of the Group 2 Mortgage Loans. |
Group 2 | |
Cumulative Loss | |
Trigger: | With respect to the related Certificates, a “Cumulative Loss Trigger” will occur if the aggregate amount of realized losses on the related Mortgage Loans exceeds the applicable percentage of the aggregate principal balance of the related Mortgage Loans as of the Cut-off Date, as set forth below: |
Period (month) | Percentage | |
85- 96 | [5.00]% with respect to July 2013, plus an additional 1/12th of [1.15]% for each month thereafter | |
97 - 108 | [6.15]% with respect to July 2014, plus an additional 1/12th of [0.25]% for each month thereafter | |
109 - 120 | [6.40]% with respect to July 2015, plus an additional 1/12th of [0.20]% for each month thereafter | |
121+ | [6.60]% |
Allocated Realized | |
Loss Amounts: | With respect to any class of Offered Certificates and any distribution date, an amount equal to the sum of any realized loss allocated to that class of certificates on that distribution date and any Allocated Realized Loss Amount for that class remaining unpaid from any previous distribution date. |
Group 1 | |
Stepdown Date: | The earlier to occur of (x) the Distribution Date on which the aggregate Certificate Principal Balance of the Class 1-A Certificates is reduced to zero and (y) the later to occur of: (i) the Distribution Date in July 2009 or (ii) the first Distribution Date on which the aggregate Certificate Principal Balance of the Class 1-A Certificates is less than or equal to [84.40]% of the aggregate principal balance of the related Mortgage Loans for such Distribution Date. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 17 of 47
Group 2 | |
Stepdown Date: | The earlier to occur of (x) the Distribution Date on which the aggregate Certificate Principal Balance of the Class 2-A Certificates is reduced to zero and (y) the later to occur of: (i) the Distribution Date in July 2013 or (ii) the first Distribution Date on which the aggregate Certificate Principal Balance of the Class 2-A Certificates is less than or equal to [61.20]% of the aggregate principal balance of the related Mortgage Loans for such Distribution Date. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 18 of 47
Allocation of Losses: | Any realized losses on the Group 1 Mortgage Loans not covered by related Excess Cashflow or related Overcollateralization will be allocated to each class of Class 1-M Certificates and Class 1-B Certificates, in the following order: to the Class 1-B, Class 1-M-8, Class 1-M-7, Class 1-M-6, Class 1-M-5, Class 1-M-4, Class 1-M-3, Class 1-M-2 and Class 1-M-1 Certificates, in each case until the respective Certificate Principal Balance of such class has been reduced to zero. In addition, if the aggregate Certificate Principal Balance of the Class 1-M Certificates and Class 1-B Certificates is reduced to zero as a result of the allocation of realized losses, any additional realized losses will be allocable pro rata to the Class 1-A Certificates based on the Certificate Principal Balances until in each case the Certificate Principal Balance thereof is reduced to zero; provided however that any losses otherwise allocable to the Class 1-A1-1 Certificates will first be allocated to the Class 1-A1-2 Certificates until the Certificate Principal Balance thereof is reduced to zero. |
Any realized losses on the Group 2 Mortgage Loans not covered by related Excess Cashflow or related Overcollateralization will be allocated to each class of Class 2-M Certificates and Class 2-B Certificates, in the following order: to the Class 2-B, Class 2-M-3, Class 2-M-2 and Class 2-M-1 Certificates, in each case until the respective Certificate Principal Balance of such class has been reduced to zero. In addition, if the aggregate Certificate Principal Balance of the Class 2-M Certificates and Class 2-B Certificates is reduced to zero as a result of the allocation of realized losses, any additional realized losses will be allocable to the Class 2-A Certificates based on the Certificate Principal Balances until in each case the Certificate Principal Balance thereof is reduced to zero; provided however that any losses otherwise allocable to the Class 2-A-1 Certificates will first be allocated to the Class 2-A-2 Certificates until the Certificate Principal Balance thereof is reduced to zero. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 19 of 47
Certificates Priority | |
of Distributions: | Group 1 Mortgage Loans |
Available funds from the Group 1 Mortgage Loans (which are net of any servicing, master servicing fees and private mortgage insurance premium fees) will be distributed in the following order of priority: |
1) | From available funds to the Group 1 Swap Account, any Group 1 net swap payment and Group 1 swap termination payment for such Distribution Date (other than any Group 1 Swap Termination Payment resulting from a Swap Provider trigger event) owed to the Swap Provider; | |
2) | Interest funds, sequentially, as follows: (a) first, current and unpaid interest, to the Class 1-A Certificates, pro rata based on their entitlement, then (b) current interest, sequentially, to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates; | |
3) | Principal funds, to the Class 1-A Certificates, as more fully described under “Class A Certificates Principal Distributions” below, then (ii) sequentially, to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, each as described more fully under “Principal Paydown” below; | |
4) | Group 1 Excess Cashflow, as principal to the Class 1-A Certificates, Class 1-M and Class 1-B Certificates to restore or maintain Overcollateralization, as described under “Overcollateralization Target;” | |
5) | Any remaining Group 1 Excess Cashflow to pay any Allocated Realized Loss Amounts to the Class 1-A Certificates, pro rata, based on the unpaid realized loss amount for such class of certificates; | |
6) | Any remaining Group 1 Excess Cashflow, sequentially to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, in that order, in each case first to pay any unpaid interest for such class and then to pay any Allocated Realized Loss Amounts for such class; | |
7) | Any remaining Group 1 Excess Cashflow to the related Net WAC shortfall reserve fund to pay the Group 1 Certificates, on a pro rata basis, based on the Certificate Principal Balances thereof, to the extent needed to pay any remaining related Net WAC Shortfall Amount for each such class; provided that any Group 1 Excess Cashflow remaining after such allocation to pay Net WAC Shortfall Amount based on the Certificate Principal Balances of these Certificates will be distributed to each such Class of Certificates with respect to which there remains any unpaid Net WAC Shortfall Amount (after the distribution based on Certificate Principal Balances), pro rata, based on the amount of such unpaid Net WAC Shortfall Amount; |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 20 of 47
8) | To the Group 1 Swap Account, any Group 1 Swap Termination Payment owed to the Swap Provider specifically due to a Group 1 Swap Provider Trigger Event pursuant to the Group 1 Swap Contract; and | |
9) | To the Class 1-C and Class 1-R Certificates, any remaining amounts as described in the pooling and servicing agreement. |
Group 2 Mortgage Loans
Available funds from the Group 2 Mortgage Loans (which are net of any servicing, master servicing fees and private mortgage insurance premium fees) will be distributed in the following order of priority:
1) | From available funds to the Group 2 Swap Account, any Group 2 Net Swap Payment and Group 2 Swap Termination Payment for such Distribution Date (other than any Swap Termination Payment resulting from a Swap Provider trigger event) owed to the Swap Provider; | |
2) | Interest funds, sequentially, as follows: (a) first, current and unpaid interest, to the Class 2-A Certificates, pro rata based on their entitlement, then (b) current interest, sequentially, to the Class 2-M-1, Class 2-M-2, Class 2-M-3, Class 2-B-1 and Class 2-B-2 Certificates; | |
3) | Principal funds, to the Class 2-A Certificates, as more fully described under “Class A Certificates Principal Distributions” below, then (ii) sequentially, to the Class 2-M-1, Class 2-M-2, Class 2-M-3, Class 2-B-1 and Class 2-B-2 Certificates, each as described more fully under “Principal Paydown” below; | |
4) | Group 2 Excess Cashflow, as principal to the Class 2-A, Class 2-M and Class 2-B Certificates to restore or maintain Overcollateralization, as described under “Overcollateralization Target;” | |
5) | Any remaining Group 2 Excess Cashflow to pay any Allocated Realized Loss Amounts to the Class 2-A Certificates, pro rata, based on the unpaid realized loss amount for such class of certificates; |
6) | Any remaining Group 2 Excess Cashflow, sequentially to the Class 2-M-1, Class 2-M-2, Class 2-M-3, Class 2-B-1 and Class 2-B-2 Certificates, in that order, in each case first to pay any unpaid interest for such class and then to pay any Allocated Realized Loss Amounts for such class; |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 21 of 47
7) | Any remaining Group 2 Excess Cashflow to the related Net WAC shortfall reserve fund to pay the Group 2 Certificates, on a pro rata basis, based on the Certificate Principal Balances thereof, to the extent needed to pay any remaining Net WAC Shortfall Amount for each such Class; provided that any Group 2 Excess Cashflow remaining after such allocation to pay Net WAC Shortfall Amount based on the Certificate Principal Balances of these Certificates will be distributed to each such Class of Certificates with respect to which there remains any unpaid Net WAC Shortfall Amount (after the distribution based on Certificate Principal Balances), pro rata, based on the amount of such unpaid Net WAC Shortfall Amount; | |
8) | To the Group 2 Swap Account, any Group 2 Swap Termination Payment owed to the Swap Provider specifically due to a Swap Provider trigger event pursuant to the Group 2 Swap Contract; and | |
9) | To the Class 2-C and Class 2-R Certificates, any remaining amounts as described in the pooling and servicing agreement. | |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 22 of 47
Principal Paydown:
Group 1 Certificates | |
Prior to the Group 1 Stepdown Date or if a Group 1 Trigger Event is in effect on any Distribution Date, 100% of the available principal funds will be paid to the Class 1-A Certificates, as more fully described below under “Class A Certificates Principal Distributions” below, however, if the Class 1-A Certificates have been retired, such amounts will be applied sequentially to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, in that order, in each case until the Certificate Principal Balance thereof is reduced to zero. | |
On any Distribution Date on or after the Group 1 Stepdown Date, and if a Group 1 Trigger Event is not in effect on such Distribution Date, the Group 1 Certificates will be entitled to receive payments of principal in the following order of priority (such that the unpaid principal balance of each class will have the following subordination): | |
Group 1 Certificates |
Class | S&P / Moody’s | Subordination (after Group 1 Stepdown Date; as % of Current Pool Balance) |
1-A1-1* | AAA/Aaa | 15.60% |
1-A1-2 | AAA/Aaa | 15.60% |
1-A2-A | AAA/Aaa | 15.60% |
1-A2-B | AAA/Aaa | 15.60% |
1-A2-C | AAA/Aaa | 15.60% |
1-M-1 | AA+/Aa1 | 11.70% |
1-M-2 | AA/Aa2 | 9.20% |
1-M-3 | AA-/Aa3 | 7.60% |
1-M-4 | A+/A1 | 6.60% |
1-M-5 | A/A2 | 5.60% |
1-M-6 | A-/A3 | 4.60% |
1-M-7 | BBB+/Baa1 | 3.60% |
1-M-8 | BBB/Baa2 | 2.60% |
1-B | BBB-/Baa3 | 1.60% |
*Excludes the subordination provided by Class 1-A1-2.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 23 of 47
Group 2 Certificates
Prior to the Group 2 Stepdown Date or if a Group 2 Trigger Event is in effect on any Distribution Date, 100% of the available principal funds will be paid to the Class 2-A Certificates, as more fully described below under “Class A Certificates Principal Distribution” below, however, if the Class 2-A Certificates have been retired, such amounts will be applied sequentially to the Class 2-M-1, Class 2-M-2, Class 2-M-3, Class 2-B-1 and Class 2-B-2 Certificates, in that order, in each case until the Certificate Principal Balance thereof is reduced to zero.
On any Distribution Date on or after the Group 2 Stepdown Date, and if a Group 2 Trigger Event is not in effect on such Distribution Date, the Group 2 Certificates will be entitled to receive payments of principal in the following order of priority (such that the unpaid principal balance of each class will have the following subordination):
Group 2 Certificates
Class | S&P / Moody’s | Subordination (after Group 2 Stepdown Date; as % of Current Pool Balance) |
2-A-1* | AAA /Aaa | 38.80% |
2-A-2 | ----/Aaa | 38.80% |
2-M-1 | ----/Aa2 | 31.60% |
2-M-2 | ----/A2 | 23.20% |
2-M-3 | ---/Baa2 | 13.00% |
2-B-1 | ----/Baa3 | 10.80% |
2-B-2 | ----/Ba2 | 7.40% |
*Excludes the subordination provided by Class 2-A-2.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 24 of 47
Class A Certificates Principal Distributions:
Class 1-A Certificates:
Prior to the Group 1 Stepdown Date, the Class 1-A1 Certificates and Class 1-A2 Certificates will received all principal collected on the related Mortgage Loans, on a pro rata basis, unless the related Class 1-A1 Certificates and Class 1-A2 Certificate Principal Balances have been reduced to zero.
The Class 1-A1-1 Certificates and Class 1-A1-2 Certificates will receive the Class 1-A1 Principal Distribution Amount on a pro rata basis.
The Class 1-A2 Certificates will receive the Class 1-A2 Principal Distribution Amount, which will be allocated sequentially to the Class 1-A2-A, Class 1-A2-B and Class 1-A2-C Certificates, in that order.
On or after the Group 1 Stepdown Date and assuming no Group 1 Trigger Event is in effect, principal paid to the Class 1-A Certificates will have approximately 15.60% of the current balance of the related Mortgage Loans as credit enhancement (which is approximately 2x the initial senior enhancement).
Class 2-A Certificates:
Prior to the Group 2 Stepdown Date, the Class 2-A Certificates will receive all principal collected on the related Mortgage Loans, unless the related Class 2-A Certificate Principal Balances have been reduced to zero.
The Class 2-A-1 Certificates and Class 2-A-2 Certificates will receive the Class 2-A Principal Distribution Amount on a pro rata basis.
On or after the Group 2 Stepdown Date and assuming no Group 2 Trigger Event is in effect, principal paid to the Class 2-A Certificates will have approximately 38.80% of the current balance of the related Mortgage Loans as credit enhancement (which is approximately 2x the initial senior enhancement).
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 25 of 47
Group 1 Swap | |
Account: | Net Swap Payments payable by the Swap Provider under the Group 1 Swap Contract to the swap administrator will be deposited by the swap administrator in the Group 1 Swap Account. On each distribution date, to the extent required, the swap administrator will withdraw the following amounts from the Group 1 Swap Account and remit to the Trustee for distribution to the related certificates (after distribution to the certificates of net monthly Excess Cashflow) in the following order of priority: |
(1) | concurrently to the Class 1-A Certificates, pro rata, based on entitlement, in an amount equal to any unpaid interest shortfall amount for such class or classes to the extent not covered by the related available funds on that distribution date and solely to the extent the unpaid interest shortfall amount is as a result of the interest portion of realized losses; | |
(2) | sequentially, to the Class 1-M Certificates and Class 1-B Certificates, in that order, in an amount equal to any unpaid interest shortfall amount for such class or classes to the extent not covered by the related available funds on that distribution date and solely to the extent the unpaid interest shortfall amount is as a result of the interest portion of realized losses; | |
(3) | to the Class 1-A Certificates, Class 1-M Certificates and Class 1-B Certificates, an amount equal to any extra principal distribution amount, to the extent not covered by the Group 1 Excess Cashflow on that distribution date and solely to the extent the payment of the extra principal distribution amount is as a result of current or prior period realized losses, to be included in the related Principal Distribution Amount for that distribution date and payable to such holders as part of the principal distribution amount ; | |
(4) | to the related Net WAC reserve fund, to pay related Net WAC Shortfall Amounts on the Class 1-A, Class 1-M and Class 1-B Certificates, on a pro rata basis, based on the aggregate amount of Net WAC Shortfall Amounts for such class(es) of certificates remaining unpaid, to the extent not covered by the Group 1 Excess Cashflow on that distribution date; | |
(5) | to the Class 1-A Certificates, pro rata, in an amount equal to any Allocated Realized Loss Amount for such class or classes, to the extent not covered by any related Excess Cashflow on that distribution date; | |
(6) | sequentially to the Class 1-M Certificates and Class 1-B Certificates, in an amount equal to any Allocated Realized Loss Amount for such class or classes, to the extent not covered by any related Excess Cashflow on that distribution date; and | |
(7) | to pay to the parties named in the swap administration agreement any remaining amounts. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 26 of 47
Group 2 Swap | |
Account: | Net Swap Payments payable by the Swap Provider under the Group 2 Swap Contract to the swap administrator will be deposited by the swap administrator in the Group 2 Swap Account. On each distribution date, to the extent required, the swap administrator will withdraw the following amounts from the Group 2 Swap Account and remit to the Trustee for distribution to the related certificates (after distribution to the certificates of Excess Cashflow) in the following order of priority: |
(1) | concurrently to the Class 2-A Certificates, pro rata, in an amount equal to any unpaid interest shortfall amount for such class or classes to the extent not covered by the related available funds on that distribution date and solely to the extent the unpaid interest shortfall amount is as a result of the interest portion of realized losses; | |
(2) | sequentially, to the Class 2-M Certificates and Class 2-B-1 Certificates, in that order, in an amount equal to any unpaid interest shortfall amount for such class or classes to the extent not covered by the related available funds on that distribution date and solely to the extent the unpaid interest shortfall amount is as a result of the interest portion of realized losses; | |
(3) | to the Class 2-A Certificates, Class 2-M Certificates and Class 2-B-1 Certificates, an amount equal to any extra principal distribution amount, to the extent not covered by the Group 2 Excess Cashflow on that distribution date and solely to the extent the payment of the extra principal distribution amount is as a result of current or prior period realized losses, to be included in the related Principal Distribution Amount for that distribution date and payable to such holders as part of the principal distribution amount ; | |
(4) | to the related Net WAC reserve fund, to pay related Net WAC Shortfall Amounts on the Class 2-A, Class 2-M and Class 2-B-1 Certificates, on a pro rata basis, based on the aggregate amount of Net WAC Shortfall Amounts for such class(es) of certificates remaining unpaid, to the extent not covered by the Group 2 Excess Cashflow on that distribution date; | |
(5) | to the Class 2-A Certificates, pro rata, in an amount equal to any Allocated Realized Loss Amount for such class or classes, to the extent not covered by any related Excess Cashflow on that distribution date; | |
(6) | sequentially to the Class 2-M Certificates and Class 2-B-1 Certificates, in an amount equal to any Allocated Realized Loss Amount for such class or classes, to the extent not covered by any related Excess Cashflow on that distribution date; and | |
(7) | to pay to the parties named in the swap administration agreement any remaining amounts. |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 27 of 47
Sensitivity Analysis - To 10% Optional Termination |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A1-1 | ||||||
Avg. Life (yrs) | 21.545 | 4.791 | 3.268 | 2.474 | 2.016 | 1.635 |
Mod. Duration (yrs) | 11.935 | 3.861 | 2.803 | 2.193 | 1.818 | 1.500 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 348 | 142 | 93 | 66 | 57 | 44 |
Yield (%) | 5.591 | 5.592 | 5.592 | 5.593 | 5.593 | 5.595 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A1-2 | ||||||
Avg. Life (yrs) | 21.545 | 4.791 | 3.268 | 2.474 | 2.016 | 1.635 |
Mod. Duration (yrs) | 11.868 | 3.852 | 2.799 | 2.190 | 1.816 | 1.499 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 348 | 142 | 93 | 66 | 57 | 44 |
Yield (%) | 5.653 | 5.654 | 5.654 | 5.655 | 5.655 | 5.657 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A2-A | ||||||
Avg. Life (yrs) | 15.413 | 1.704 | 1.243 | 1.000 | 0.847 | 0.743 |
Mod. Duration (yrs) | 9.968 | 1.571 | 1.165 | 0.945 | 0.804 | 0.708 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Nov-27 | Aug-09 | Sep-08 | Mar-08 | Dec-07 | Sep-07 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 257 | 38 | 27 | 21 | 18 | 15 |
Yield (%) | 5.477 | 5.480 | 5.479 | 5.480 | 5.479 | 5.478 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 28 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A2-B | ||||||
Avg. Life (yrs) | 25.196 | 5.720 | 3.926 | 3.000 | 2.355 | 1.926 |
Mod. Duration (yrs) | 13.260 | 4.717 | 3.412 | 2.676 | 2.143 | 1.777 |
First Principal Payment | Nov-27 | Aug-09 | Sep-08 | Mar-08 | Dec-07 | Sep-07 |
Last Principal Payment | Dec-34 | Jul-16 | Dec-12 | Jul-11 | Jun-10 | May-09 |
Lockout (mo) | 257 | 38 | 27 | 21 | 18 | 15 |
Window (mo) | 86 | 84 | 52 | 41 | 31 | 21 |
Yield (%) | 5.580 | 5.581 | 5.582 | 5.583 | 5.584 | 5.585 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A2-C | ||||||
Avg. Life (yrs) | 28.905 | 11.544 | 7.530 | 5.421 | 4.619 | 3.510 |
Mod. Duration (yrs) | 13.931 | 8.275 | 5.982 | 4.554 | 3.964 | 3.103 |
First Principal Payment | Dec-34 | Jul-16 | Dec-12 | Jul-11 | Jun-10 | May-09 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 342 | 121 | 78 | 61 | 48 | 35 |
Window (mo) | 7 | 22 | 16 | 6 | 10 | 10 |
Yield (%) | 5.695 | 5.695 | 5.694 | 5.695 | 5.693 | 5.700 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-1 | ||||||
Avg. Life (yrs) | 26.973 | 7.944 | 5.329 | 4.141 | 3.697 | 3.448 |
Mod. Duration (yrs) | 13.449 | 6.107 | 4.426 | 3.576 | 3.241 | 3.052 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Aug-09 | Sep-09 | Oct-09 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 282 | 51 | 37 | 38 | 39 | 40 |
Window (mo) | 67 | 92 | 57 | 29 | 19 | 5 |
Yield (%) | 5.747 | 5.747 | 5.747 | 5.748 | 5.748 | 5.751 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-2 | ||||||
Avg. Life (yrs) | 26.973 | 7.944 | 5.329 | 4.134 | 3.659 | 3.362 |
Mod. Duration (yrs) | 13.405 | 6.099 | 4.422 | 3.567 | 3.208 | 2.980 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Aug-09 | Sep-09 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 38 | 39 |
Window (mo) | 67 | 92 | 57 | 30 | 20 | 6 |
Yield (%) | 5.778 | 5.778 | 5.778 | 5.779 | 5.779 | 5.782 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 29 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-3 | ||||||
Avg. Life (yrs) | 26.973 | 7.944 | 5.329 | 4.115 | 3.645 | 3.327 |
Mod. Duration (yrs) | 13.377 | 6.093 | 4.419 | 3.550 | 3.195 | 2.950 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Aug-09 | Aug-09 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 38 | 38 |
Window (mo) | 67 | 92 | 57 | 30 | 20 | 7 |
Yield (%) | 5.799 | 5.799 | 5.799 | 5.799 | 5.799 | 5.803 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-4 | ||||||
Avg. Life (yrs) | 26.973 | 7.944 | 5.329 | 4.115 | 3.645 | 3.280 |
Mod. Duration (yrs) | 13.234 | 6.066 | 4.405 | 3.541 | 3.188 | 2.906 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Aug-09 | Aug-09 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 38 | 38 |
Window (mo) | 67 | 92 | 57 | 30 | 20 | 7 |
Yield (%) | 5.902 | 5.903 | 5.903 | 5.903 | 5.903 | 5.906 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-5 | ||||||
Avg. Life (yrs) | 26.973 | 7.944 | 5.329 | 4.115 | 3.628 | 3.280 |
Mod. Duration (yrs) | 13.192 | 6.058 | 4.401 | 3.539 | 3.172 | 2.905 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Aug-09 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 38 |
Window (mo) | 67 | 92 | 57 | 30 | 21 | 7 |
Yield (%) | 5.934 | 5.934 | 5.934 | 5.934 | 5.934 | 5.937 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-6 | ||||||
Avg. Life (yrs) | 26.968 | 7.931 | 5.315 | 4.112 | 3.596 | 3.277 |
Mod. Duration (yrs) | 13.093 | 6.033 | 4.383 | 3.530 | 3.142 | 2.898 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Aug-09 |
Last Principal Payment | Jun-35 | Apr-18 | Mar-14 | Dec-11 | Mar-11 | Feb-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 38 |
Window (mo) | 67 | 92 | 57 | 30 | 21 | 7 |
Yield (%) | 6.006 | 6.007 | 6.007 | 6.007 | 6.007 | 6.010 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 30 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-7 | ||||||
Avg. Life (yrs) | 26.913 | 7.736 | 5.175 | 4.065 | 3.513 | 3.179 |
Mod. Duration (yrs) | 12.392 | 5.805 | 4.226 | 3.451 | 3.044 | 2.790 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Jul-09 |
Last Principal Payment | May-35 | Dec-17 | Nov-13 | Nov-11 | Jan-11 | Jan-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 37 |
Window (mo) | 66 | 88 | 53 | 29 | 19 | 7 |
Yield (%) | 6.548 | 6.549 | 6.549 | 6.548 | 6.549 | 6.549 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-8 | ||||||
Avg. Life (yrs) | 26.783 | 7.345 | 4.915 | 3.956 | 3.351 | 3.091 |
Mod. Duration (yrs) | 12.122 | 5.562 | 4.037 | 3.359 | 2.911 | 2.710 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Jul-09 |
Last Principal Payment | Jan-35 | Oct-16 | Feb-13 | Aug-11 | Jul-10 | Sep-09 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 37 |
Window (mo) | 62 | 74 | 44 | 26 | 13 | 3 |
Yield (%) | 6.756 | 6.757 | 6.758 | 6.757 | 6.757 | 6.756 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-B | ||||||
Avg. Life (yrs) | 26.380 | 6.541 | 4.528 | 3.563 | 3.128 | 3.072 |
Mod. Duration (yrs) | 11.999 | 5.104 | 3.773 | 3.069 | 2.737 | 2.693 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Jul-09 |
Last Principal Payment | May-34 | Feb-15 | Jan-12 | Dec-10 | Dec-09 | Jul-09 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 37 |
Window (mo) | 54 | 54 | 31 | 18 | 6 | 1 |
Yield (%) | 6.809 | 6.810 | 6.809 | 6.810 | 6.809 | 6.808 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-A-1 | ||||||
Avg. Life (yrs) | 18.404 | 6.834 | 5.379 | 4.445 | 3.912 | 3.627 |
Mod. Duration (yrs) | 10.415 | 5.215 | 4.343 | 3.731 | 3.355 | 3.139 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Feb-35 | Dec-21 | Jan-18 | Nov-15 | Apr-13 | Sep-12 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 344 | 186 | 139 | 113 | 82 | 75 |
Yield (%) | 5.768 | 5.768 | 5.768 | 5.769 | 5.769 | 5.769 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 31 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-A-2 | ||||||
Avg. Life (yrs) | 18.404 | 6.834 | 5.379 | 4.445 | 3.912 | 3.627 |
Mod. Duration (yrs) | 10.369 | 5.203 | 4.335 | 3.725 | 3.351 | 3.135 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Feb-35 | Dec-21 | Jan-18 | Nov-15 | Apr-13 | Sep-12 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 344 | 186 | 139 | 113 | 82 | 75 |
Yield (%) | 5.819 | 5.820 | 5.820 | 5.821 | 5.821 | 5.821 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-M-1 | ||||||
Avg. Life (yrs) | 26.311 | 11.244 | 9.221 | 9.198 | 7.879 | 6.986 |
Mod. Duration (yrs) | 13.062 | 7.896 | 6.907 | 6.928 | 6.143 | 5.582 |
First Principal Payment | Sep-28 | Jul-13 | Apr-14 | Mar-15 | Apr-13 | Sep-12 |
Last Principal Payment | Feb-35 | Dec-21 | Jan-18 | Nov-15 | Aug-14 | Sep-13 |
Lockout (mo) | 267 | 85 | 94 | 105 | 82 | 75 |
Window (mo) | 78 | 102 | 46 | 9 | 17 | 13 |
Yield (%) | 5.923 | 5.924 | 5.924 | 5.923 | 5.923 | 5.925 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-M-2 | ||||||
Avg. Life (yrs) | 26.311 | 11.244 | 9.085 | 8.602 | 8.156 | 7.239 |
Mod. Duration (yrs) | 12.900 | 7.843 | 6.784 | 6.545 | 6.285 | 5.721 |
First Principal Payment | Sep-28 | Jul-13 | Dec-13 | Jun-14 | Aug-14 | Sep-13 |
Last Principal Payment | Feb-35 | Dec-21 | Jan-18 | Nov-15 | Aug-14 | Sep-13 |
Lockout (mo) | 267 | 85 | 90 | 96 | 98 | 87 |
Window (mo) | 78 | 102 | 50 | 18 | 1 | 1 |
Yield (%) | 6.048 | 6.048 | 6.049 | 6.049 | 6.048 | 6.050 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-M-3 | ||||||
Avg. Life (yrs) | 26.311 | 11.244 | 8.976 | 8.199 | 7.901 | 7.087 |
Mod. Duration (yrs) | 12.279 | 7.633 | 6.568 | 6.175 | 6.011 | 5.524 |
First Principal Payment | Sep-28 | Jul-13 | Sep-13 | Dec-13 | Dec-13 | Mar-13 |
Last Principal Payment | Feb-35 | Dec-21 | Jan-18 | Nov-15 | Aug-14 | Sep-13 |
Lockout (mo) | 267 | 85 | 87 | 90 | 90 | 81 |
Window (mo) | 78 | 102 | 53 | 24 | 9 | 7 |
Yield (%) | 6.548 | 6.548 | 6.549 | 6.548 | 6.548 | 6.549 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 32 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-B-1 | ||||||
Avg. Life (yrs) | 26.311 | 11.244 | 8.922 | 8.023 | 7.573 | 6.834 |
Mod. Duration (yrs) | 12.279 | 7.633 | 6.536 | 6.070 | 5.816 | 5.366 |
First Principal Payment | Sep-28 | Jul-13 | Sep-13 | Nov-13 | Oct-13 | Feb-13 |
Last Principal Payment | Feb-35 | Dec-21 | Jan-18 | Nov-15 | Aug-14 | Sep-13 |
Lockout (mo) | 267 | 85 | 87 | 89 | 88 | 80 |
Window (mo) | 78 | 102 | 53 | 25 | 11 | 8 |
Yield (%) | 6.548 | 6.548 | 6.549 | 6.549 | 6.549 | 6.549 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 33 of 47
Sensitivity Analysis - To Maturity |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A1-1 | ||||||
Avg. Life (yrs) | 21.590 | 5.149 | 3.523 | 2.658 | 2.112 | 1.732 |
Mod. Duration (yrs) | 11.944 | 4.017 | 2.948 | 2.315 | 1.886 | 1.575 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | May-36 | May-30 | Apr-23 | Nov-18 | Aug-15 | Jan-13 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 359 | 287 | 202 | 149 | 110 | 79 |
Yield (%) | 5.591 | 5.599 | 5.601 | 5.603 | 5.600 | 5.602 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A1-2 | ||||||
Avg. Life (yrs) | 21.590 | 5.149 | 3.523 | 2.658 | 2.112 | 1.732 |
Mod. Duration (yrs) | 11.876 | 4.008 | 2.943 | 2.312 | 1.884 | 1.573 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | May-36 | May-30 | Apr-23 | Nov-18 | Aug-15 | Jan-13 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 359 | 287 | 202 | 149 | 110 | 79 |
Yield (%) | 5.653 | 5.664 | 5.667 | 5.668 | 5.664 | 5.667 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A2-A | ||||||
Avg. Life (yrs) | 15.413 | 1.704 | 1.243 | 1.000 | 0.847 | 0.743 |
Mod. Duration (yrs) | 9.968 | 1.571 | 1.165 | 0.945 | 0.804 | 0.708 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Nov-27 | Aug-09 | Sep-08 | Mar-08 | Dec-07 | Sep-07 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 257 | 38 | 27 | 21 | 18 | 15 |
Yield (%) | 5.477 | 5.480 | 5.479 | 5.480 | 5.479 | 5.478 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 34 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A2-B | ||||||
Avg. Life (yrs) | 25.196 | 5.720 | 3.926 | 3.000 | 2.355 | 1.926 |
Mod. Duration (yrs) | 13.260 | 4.717 | 3.412 | 2.676 | 2.143 | 1.777 |
First Principal Payment | Nov-27 | Aug-09 | Sep-08 | Mar-08 | Dec-07 | Sep-07 |
Last Principal Payment | Dec-34 | Jul-16 | Dec-12 | Jul-11 | Jun-10 | May-09 |
Lockout (mo) | 257 | 38 | 27 | 21 | 18 | 15 |
Window (mo) | 86 | 84 | 52 | 41 | 31 | 21 |
Yield (%) | 5.580 | 5.581 | 5.582 | 5.583 | 5.584 | 5.585 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-A2-C | ||||||
Avg. Life (yrs) | 29.242 | 14.239 | 9.457 | 6.809 | 5.338 | 4.241 |
Mod. Duration (yrs) | 13.996 | 9.425 | 7.057 | 5.459 | 4.472 | 3.660 |
First Principal Payment | Dec-34 | Jul-16 | Dec-12 | Jul-11 | Jun-10 | May-09 |
Last Principal Payment | May-36 | May-30 | Apr-23 | Nov-18 | Aug-15 | Jan-13 |
Lockout (mo) | 342 | 121 | 78 | 61 | 48 | 35 |
Window (mo) | 18 | 167 | 125 | 89 | 63 | 45 |
Yield (%) | 5.696 | 5.730 | 5.739 | 5.743 | 5.728 | 5.739 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-1 | ||||||
Avg. Life (yrs) | 27.059 | 8.511 | 5.729 | 4.422 | 3.816 | 3.635 |
Mod. Duration (yrs) | 13.465 | 6.365 | 4.661 | 3.767 | 3.328 | 3.195 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Aug-09 | Sep-09 | Oct-09 |
Last Principal Payment | Feb-36 | Apr-23 | Oct-17 | Jul-14 | Apr-12 | Jul-11 |
Lockout (mo) | 282 | 51 | 37 | 38 | 39 | 40 |
Window (mo) | 75 | 152 | 100 | 60 | 32 | 22 |
Yield (%) | 5.747 | 5.754 | 5.756 | 5.756 | 5.754 | 5.757 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-2 | ||||||
Avg. Life (yrs) | 27.049 | 8.413 | 5.658 | 4.363 | 3.756 | 3.535 |
Mod. Duration (yrs) | 13.420 | 6.316 | 4.618 | 3.724 | 3.280 | 3.113 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Aug-09 | Sep-09 |
Last Principal Payment | Jan-36 | Jan-22 | Dec-16 | Nov-13 | Dec-11 | May-11 |
Lockout (mo) | 282 | 51 | 37 | 37 | 38 | 39 |
Window (mo) | 74 | 137 | 90 | 53 | 29 | 21 |
Yield (%) | 5.778 | 5.785 | 5.786 | 5.787 | 5.784 | 5.788 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 35 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-3 | ||||||
Avg. Life (yrs) | 27.035 | 8.325 | 5.583 | 4.290 | 3.724 | 3.465 |
Mod. Duration (yrs) | 13.388 | 6.272 | 4.573 | 3.671 | 3.253 | 3.057 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Aug-09 | Aug-09 |
Last Principal Payment | Nov-35 | Jan-21 | Feb-16 | Apr-13 | Oct-11 | Feb-11 |
Lockout (mo) | 282 | 51 | 37 | 37 | 38 | 38 |
Window (mo) | 72 | 125 | 80 | 46 | 27 | 19 |
Yield (%) | 5.799 | 5.805 | 5.806 | 5.806 | 5.804 | 5.809 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-4 | ||||||
Avg. Life (yrs) | 27.022 | 8.228 | 5.513 | 4.240 | 3.709 | 3.383 |
Mod. Duration (yrs) | 13.243 | 6.201 | 4.517 | 3.628 | 3.235 | 2.986 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Aug-09 | Aug-09 |
Last Principal Payment | Oct-35 | Apr-20 | Jul-15 | Nov-12 | Aug-11 | Nov-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 38 | 38 |
Window (mo) | 71 | 116 | 73 | 41 | 25 | 16 |
Yield (%) | 5.903 | 5.908 | 5.909 | 5.909 | 5.907 | 5.911 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-5 | ||||||
Avg. Life (yrs) | 27.003 | 8.119 | 5.438 | 4.186 | 3.675 | 3.345 |
Mod. Duration (yrs) | 13.198 | 6.143 | 4.468 | 3.588 | 3.207 | 2.955 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Aug-09 |
Last Principal Payment | Sep-35 | Aug-19 | Jan-15 | Jul-12 | Jul-11 | Aug-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 38 |
Window (mo) | 70 | 108 | 67 | 37 | 25 | 13 |
Yield (%) | 5.934 | 5.938 | 5.939 | 5.938 | 5.937 | 5.940 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-6 | ||||||
Avg. Life (yrs) | 26.972 | 7.967 | 5.333 | 4.124 | 3.611 | 3.292 |
Mod. Duration (yrs) | 13.094 | 6.051 | 4.394 | 3.539 | 3.152 | 2.909 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Aug-09 |
Last Principal Payment | Jul-35 | Nov-18 | Jul-14 | Feb-12 | May-11 | May-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 38 |
Window (mo) | 68 | 99 | 61 | 32 | 23 | 10 |
Yield (%) | 6.006 | 6.008 | 6.008 | 6.008 | 6.008 | 6.010 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 36 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-7 | ||||||
Avg. Life (yrs) | 26.913 | 7.736 | 5.175 | 4.065 | 3.513 | 3.179 |
Mod. Duration (yrs) | 12.392 | 5.805 | 4.226 | 3.451 | 3.044 | 2.790 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Jul-09 |
Last Principal Payment | May-35 | Dec-17 | Nov-13 | Nov-11 | Jan-11 | Jan-10 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 37 |
Window (mo) | 66 | 88 | 53 | 29 | 19 | 7 |
Yield (%) | 6.548 | 6.549 | 6.549 | 6.548 | 6.549 | 6.549 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-M-8 | ||||||
Avg. Life (yrs) | 26.783 | 7.345 | 4.915 | 3.956 | 3.351 | 3.091 |
Mod. Duration (yrs) | 12.122 | 5.562 | 4.037 | 3.359 | 2.911 | 2.710 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Jul-09 |
Last Principal Payment | Jan-35 | Oct-16 | Feb-13 | Aug-11 | Jul-10 | Sep-09 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 37 |
Window (mo) | 62 | 74 | 44 | 26 | 13 | 3 |
Yield (%) | 6.756 | 6.757 | 6.758 | 6.757 | 6.757 | 6.756 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class I-B | ||||||
Avg. Life (yrs) | 26.380 | 6.541 | 4.528 | 3.563 | 3.128 | 3.072 |
Mod. Duration (yrs) | 11.999 | 5.104 | 3.773 | 3.069 | 2.737 | 2.693 |
First Principal Payment | Dec-29 | Sep-10 | Jul-09 | Jul-09 | Jul-09 | Jul-09 |
Last Principal Payment | May-34 | Feb-15 | Jan-12 | Dec-10 | Dec-09 | Jul-09 |
Lockout (mo) | 282 | 51 | 37 | 37 | 37 | 37 |
Window (mo) | 54 | 54 | 31 | 18 | 6 | 1 |
Yield (%) | 6.809 | 6.810 | 6.809 | 6.810 | 6.809 | 6.808 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-A-1 | ||||||
Avg. Life (yrs) | 18.451 | 7.143 | 5.619 | 4.627 | 3.912 | 3.627 |
Mod. Duration (yrs) | 10.424 | 5.323 | 4.450 | 3.825 | 3.355 | 3.139 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Apr-36 | Apr-33 | Jan-28 | Aug-23 | Apr-13 | Sep-12 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 358 | 322 | 259 | 206 | 82 | 75 |
Yield (%) | 5.768 | 5.775 | 5.777 | 5.777 | 5.769 | 5.769 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 37 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-A-2 | ||||||
Avg. Life (yrs) | 18.451 | 7.143 | 5.619 | 4.627 | 3.912 | 3.627 |
Mod. Duration (yrs) | 10.378 | 5.311 | 4.442 | 3.819 | 3.351 | 3.135 |
First Principal Payment | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 | Jul-06 |
Last Principal Payment | Apr-36 | Apr-33 | Jan-28 | Aug-23 | Apr-13 | Sep-12 |
Lockout (mo) | 1 | 1 | 1 | 1 | 1 | 1 |
Window (mo) | 358 | 322 | 259 | 206 | 82 | 75 |
Yield (%) | 5.820 | 5.828 | 5.830 | 5.831 | 5.821 | 5.821 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-M-1 | ||||||
Avg. Life (yrs) | 26.436 | 12.030 | 9.824 | 9.696 | 10.561 | 9.093 |
Mod. Duration (yrs) | 13.085 | 8.163 | 7.171 | 7.184 | 7.599 | 6.811 |
First Principal Payment | Sep-28 | Jul-13 | Apr-14 | Mar-15 | Apr-13 | Sep-12 |
Last Principal Payment | Mar-36 | Sep-30 | Feb-25 | Apr-21 | Sep-20 | Aug-18 |
Lockout (mo) | 267 | 85 | 94 | 105 | 82 | 75 |
Window (mo) | 91 | 207 | 131 | 74 | 90 | 72 |
Yield (%) | 5.924 | 5.932 | 5.933 | 5.932 | 5.973 | 5.971 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-M-2 | ||||||
Avg. Life (yrs) | 26.433 | 12.001 | 9.660 | 9.040 | 9.182 | 8.159 |
Mod. Duration (yrs) | 12.921 | 8.097 | 7.035 | 6.767 | 6.872 | 6.281 |
First Principal Payment | Sep-28 | Jul-13 | Dec-13 | Jun-14 | Oct-14 | Dec-13 |
Last Principal Payment | Feb-36 | Jan-30 | Jun-24 | Sep-20 | May-18 | Sep-16 |
Lockout (mo) | 267 | 85 | 90 | 96 | 100 | 90 |
Window (mo) | 90 | 199 | 127 | 76 | 44 | 34 |
Yield (%) | 6.049 | 6.058 | 6.060 | 6.059 | 6.076 | 6.077 |
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-M-3 | ||||||
Avg. Life (yrs) | 26.428 | 11.922 | 9.484 | 8.584 | 8.198 | 7.347 |
Mod. Duration (yrs) | 12.297 | 7.850 | 6.782 | 6.364 | 6.172 | 5.675 |
First Principal Payment | Sep-28 | Jul-13 | Sep-13 | Dec-13 | Dec-13 | Mar-13 |
Last Principal Payment | Feb-36 | Nov-28 | May-23 | Dec-19 | Sep-17 | Mar-16 |
Lockout (mo) | 267 | 85 | 87 | 90 | 90 | 81 |
Window (mo) | 90 | 185 | 117 | 73 | 46 | 37 |
Yield (%) | 6.549 | 6.564 | 6.566 | 6.565 | 6.563 | 6.564 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 38 of 47
Percent of Pricing Speed | 0% | 50% | 75% | 100% | 125% | 150% |
Class 2-B-1 | ||||||
Avg. Life (yrs) | 26.416 | 11.804 | 9.336 | 8.337 | 7.805 | 7.030 |
Mod. Duration (yrs) | 12.295 | 7.818 | 6.715 | 6.228 | 5.944 | 5.481 |
First Principal Payment | Sep-28 | Jul-13 | Sep-13 | Nov-13 | Oct-13 | Feb-13 |
Last Principal Payment | Nov-35 | Jun-26 | Jun-21 | Jun-18 | Jul-16 | Apr-15 |
Lockout (mo) | 267 | 85 | 87 | 89 | 88 | 80 |
Window (mo) | 87 | 156 | 94 | 56 | 34 | 27 |
Yield (%) | 6.549 | 6.561 | 6.564 | 6.563 | 6.561 | 6.561 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 39 of 47
Group 1 - Available Funds Cap -Indices @ Spot | |||||
Period | Class | Class | Period | Class | Class |
I-A | 1-M&B | I-A | 1-M&B | ||
(%) | (%) | (%) | (%) | ||
1 | 8.01 | 8.01 | 31 | 7.00 | 7.00 |
2 | 6.81 | 6.81 | 32 | 7.00 | 7.00 |
3 | 6.81 | 6.81 | 33 | 7.48 | 7.48 |
4 | 6.95 | 6.95 | 34 | 6.99 | 6.99 |
5 | 6.81 | 6.81 | 35 | 7.17 | 7.17 |
6 | 6.95 | 6.95 | 36 | 7.57 | 7.57 |
7 | 6.82 | 6.82 | 37 | 7.76 | 7.76 |
8 | 6.82 | 6.82 | 38 | 7.55 | 7.55 |
9 | 7.25 | 7.25 | 39 | 7.53 | 7.53 |
10 | 6.84 | 6.84 | 40 | 7.70 | 7.70 |
11 | 6.97 | 6.97 | 41 | 7.50 | 7.50 |
12 | 6.84 | 6.84 | 42 | 7.71 | 7.71 |
13 | 6.98 | 6.98 | 43 | 7.51 | 7.51 |
14 | 6.85 | 6.85 | 44 | 7.50 | 7.50 |
15 | 6.85 | 6.85 | 45 | 8.07 | 8.07 |
16 | 6.98 | 6.98 | 46 | 7.48 | 7.48 |
17 | 6.85 | 6.85 | 47 | 7.66 | 7.66 |
18 | 6.98 | 6.98 | 48 | 7.48 | 7.48 |
19 | 6.85 | 6.85 | 49 | 7.66 | 7.66 |
20 | 6.85 | 6.85 | 50 | 7.47 | 7.47 |
21 | 7.13 | 7.13 | 51 | 7.47 | 7.47 |
22 | 6.99 | 6.99 | 52 | 7.65 | 7.65 |
23 | 7.24 | 7.24 | 53 | 7.47 | 7.47 |
24 | 7.09 | 7.09 | 54 | 7.65 | 7.65 |
25 | 7.23 | 7.23 | 55 | 7.46 | 7.46 |
26 | 7.06 | 7.06 | 56 | 7.46 | 7.46 |
27 | 7.04 | 7.04 | 57 | 8.04 | 8.04 |
28 | 7.19 | 7.19 | 58 | 7.47 | 7.47 |
29 | 7.02 | 7.02 | 59 | 8.17 | 8.17 |
30 | 7.16 | 7.16 | 60 | 8.25 | 8.25 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 40 of 47
Group 1 - Available Funds Cap -Indices @ 20% | |||||
Period | Class | Class | Period | Class | Class |
I-A | 1-M&B | I-A | 1-M&B | ||
(%) | (%) | (%) | (%) | ||
1 | 8.01 | 8.01 | 31 | 14.06 | 14.06 |
2 | 14.70 | 14.70 | 32 | 14.06 | 14.06 |
3 | 14.69 | 14.69 | 33 | 14.57 | 14.57 |
4 | 14.82 | 14.82 | 34 | 14.11 | 14.11 |
5 | 14.68 | 14.68 | 35 | 13.57 | 13.57 |
6 | 14.82 | 14.82 | 36 | 14.00 | 14.00 |
7 | 14.68 | 14.68 | 37 | 13.32 | 13.32 |
8 | 14.68 | 14.68 | 38 | 13.16 | 13.16 |
9 | 15.11 | 15.11 | 39 | 13.20 | 13.20 |
10 | 14.70 | 14.70 | 40 | 13.48 | 13.48 |
11 | 14.83 | 14.83 | 41 | 13.36 | 13.36 |
12 | 14.71 | 14.71 | 42 | 13.77 | 13.77 |
13 | 14.83 | 14.83 | 43 | 13.60 | 13.60 |
14 | 14.69 | 14.69 | 44 | 13.62 | 13.62 |
15 | 14.68 | 14.68 | 45 | 14.27 | 14.27 |
16 | 14.81 | 14.81 | 46 | 13.62 | 13.62 |
17 | 14.67 | 14.67 | 47 | 13.83 | 13.83 |
18 | 14.80 | 14.80 | 48 | 13.78 | 13.78 |
19 | 14.66 | 14.66 | 49 | 13.98 | 13.98 |
20 | 14.66 | 14.66 | 50 | 13.77 | 13.77 |
21 | 14.48 | 14.48 | 51 | 13.77 | 13.77 |
22 | 14.39 | 14.39 | 52 | 13.97 | 13.97 |
23 | 14.45 | 14.45 | 53 | 13.76 | 13.76 |
24 | 13.98 | 13.98 | 54 | 14.08 | 14.08 |
25 | 14.03 | 14.03 | 55 | 13.87 | 13.87 |
26 | 13.90 | 13.90 | 56 | 13.86 | 13.86 |
27 | 13.92 | 13.92 | 57 | 14.52 | 14.52 |
28 | 14.14 | 14.14 | 58 | 13.89 | 13.89 |
29 | 14.03 | 14.03 | 59 | 13.35 | 13.35 |
30 | 14.22 | 14.22 | 60 | 10.74 | 10.74 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 41 of 47
Group 2 - Available Funds Cap -Indices @ Spot | ||||||||
Period | Class | Class | Period | Class | Class | Period | Class | Class |
2-A | 2-M&B | 2-A | 2-M&B | 2-A | 2-M&B | |||
(%) | (%) | (%) | (%) | (%) | (%) | |||
1 | 7.53 | 7.53 | 41 | 6.51 | 6.51 | 81 | 7.14 | 7.14 |
2 | 6.42 | 6.42 | 42 | 6.63 | 6.63 | 82 | 6.54 | 6.54 |
3 | 6.42 | 6.42 | 43 | 6.51 | 6.51 | 83 | 6.73 | 6.73 |
4 | 6.53 | 6.53 | 44 | 6.51 | 6.51 | 84 | 6.56 | 6.56 |
5 | 6.42 | 6.42 | 45 | 6.89 | 6.89 | 85 | 6.75 | 6.75 |
6 | 6.53 | 6.53 | 46 | 6.50 | 6.50 | 86 | 6.56 | 6.56 |
7 | 6.42 | 6.42 | 47 | 6.61 | 6.61 | 87 | 6.56 | 6.56 |
8 | 6.41 | 6.41 | 48 | 6.49 | 6.49 | 88 | 6.75 | 6.75 |
9 | 6.80 | 6.80 | 49 | 6.60 | 6.60 | 89 | 6.56 | 6.56 |
10 | 6.41 | 6.41 | 50 | 6.48 | 6.48 | 90 | 6.75 | 6.75 |
11 | 6.53 | 6.53 | 51 | 6.48 | 6.48 | 91 | 6.56 | 6.56 |
12 | 6.41 | 6.41 | 52 | 6.59 | 6.59 | 92 | 6.56 | 6.56 |
13 | 6.53 | 6.53 | 53 | 6.42 | 6.42 | 93 | 7.17 | 7.17 |
14 | 6.41 | 6.41 | 54 | 6.53 | 6.53 | 94 | 6.56 | 6.56 |
15 | 6.41 | 6.41 | 55 | 6.41 | 6.41 | 95 | 6.75 | 6.75 |
16 | 6.53 | 6.53 | 56 | 6.40 | 6.40 | 96 | 6.56 | 6.56 |
17 | 6.41 | 6.41 | 57 | 6.76 | 6.76 | 97 | 6.75 | 6.75 |
18 | 6.53 | 6.53 | 58 | 6.49 | 6.49 | 98 | 6.56 | 6.56 |
19 | 6.41 | 6.41 | 59 | 6.62 | 6.62 | 99 | 6.56 | 6.56 |
20 | 6.41 | 6.41 | 60 | 6.54 | 6.54 | 100 | 6.75 | 6.75 |
21 | 6.65 | 6.65 | 61 | 6.72 | 6.72 | 101 | 6.56 | 6.56 |
22 | 6.41 | 6.41 | 62 | 6.54 | 6.54 | 102 | 6.75 | 6.75 |
23 | 6.52 | 6.52 | 63 | 6.54 | 6.54 | 103 | 6.56 | 6.56 |
24 | 6.40 | 6.40 | 64 | 6.72 | 6.72 | 104 | 6.56 | 6.56 |
25 | 6.52 | 6.52 | 65 | 6.54 | 6.54 | 105 | 7.17 | 7.17 |
26 | 6.40 | 6.40 | 66 | 6.72 | 6.72 | 106 | 6.56 | 6.56 |
27 | 6.40 | 6.40 | 67 | 6.54 | 6.54 | 107 | 6.75 | 6.75 |
28 | 6.51 | 6.51 | 68 | 6.54 | 6.54 | 108 | 6.56 | 6.56 |
29 | 6.40 | 6.40 | 69 | 6.92 | 6.92 | 109 | 6.75 | 6.75 |
30 | 6.51 | 6.51 | 70 | 6.54 | 6.54 | 110 | 6.56 | 6.56 |
31 | 6.40 | 6.40 | 71 | 6.73 | 6.73 | 111 | 6.56 | 6.56 |
32 | 6.40 | 6.40 | 72 | 6.54 | 6.54 | 112 | 6.75 | 6.75 |
33 | 6.75 | 6.75 | 73 | 6.73 | 6.73 | 113 | 6.56 | 6.56 |
34 | 6.38 | 6.38 | 74 | 6.54 | 6.54 | 114 | 6.75 | 6.75 |
35 | 6.49 | 6.49 | 75 | 6.54 | 6.54 | 115 | 6.56 | 6.56 |
36 | 6.53 | 6.53 | 76 | 6.73 | 6.73 | 116 | 6.56 | 6.56 |
37 | 6.66 | 6.66 | 77 | 6.54 | 6.54 | 117 | 6.95 | 6.95 |
38 | 6.52 | 6.52 | 78 | 6.73 | 6.73 | 118 | 6.56 | 6.56 |
39 | 6.52 | 6.52 | 79 | 6.54 | 6.54 | 119 | 7.76 | 7.76 |
40 | 6.64 | 6.64 | 80 | 6.54 | 6.54 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 42 of 47
Group 2 - Available Funds Cap -Indices @ 20% | ||||||||
Period | Class | Class | Period | Class | Class | Period | Class | Class |
2-A | 2-M&B | 2-A | 2-M&B | 2-A | 2-M&B | |||
(%) | (%) | (%) | (%) | (%) | (%) | |||
1 | 7.53 | 7.53 | 41 | 14.50 | 14.50 | 81 | 11.47 | 11.47 |
2 | 14.42 | 14.42 | 42 | 14.84 | 14.84 | 82 | 10.69 | 10.69 |
3 | 14.41 | 14.41 | 43 | 14.79 | 14.79 | 83 | 10.93 | 10.93 |
4 | 14.52 | 14.52 | 44 | 14.86 | 14.86 | 84 | 10.75 | 10.75 |
5 | 14.39 | 14.39 | 45 | 15.37 | 15.37 | 85 | 11.05 | 11.05 |
6 | 14.49 | 14.49 | 46 | 15.02 | 15.02 | 86 | 10.80 | 10.80 |
7 | 14.36 | 14.36 | 47 | 15.24 | 15.24 | 87 | 10.80 | 10.80 |
8 | 14.35 | 14.35 | 48 | 15.32 | 15.32 | 88 | 11.05 | 11.05 |
9 | 14.71 | 14.71 | 49 | 15.56 | 15.56 | 89 | 10.80 | 10.80 |
10 | 14.31 | 14.31 | 50 | 15.53 | 15.53 | 90 | 11.07 | 11.07 |
11 | 14.43 | 14.43 | 51 | 15.63 | 15.63 | 91 | 10.82 | 10.82 |
12 | 14.32 | 14.32 | 52 | 15.85 | 15.85 | 92 | 10.82 | 10.82 |
13 | 14.46 | 14.46 | 53 | 14.82 | 14.82 | 93 | 11.61 | 11.61 |
14 | 14.37 | 14.37 | 54 | 15.15 | 15.15 | 94 | 10.82 | 10.82 |
15 | 14.39 | 14.39 | 55 | 15.10 | 15.10 | 95 | 11.07 | 11.07 |
16 | 14.53 | 14.53 | 56 | 15.19 | 15.19 | 96 | 10.85 | 10.85 |
17 | 14.44 | 14.44 | 57 | 15.06 | 15.06 | 97 | 11.11 | 11.11 |
18 | 14.58 | 14.58 | 58 | 13.18 | 13.18 | 98 | 10.86 | 10.86 |
19 | 14.48 | 14.48 | 59 | 12.10 | 12.10 | 99 | 10.86 | 10.86 |
20 | 14.50 | 14.50 | 60 | 10.07 | 10.07 | 100 | 11.11 | 11.11 |
21 | 14.76 | 14.76 | 61 | 10.29 | 10.29 | 101 | 10.86 | 10.86 |
22 | 14.54 | 14.54 | 62 | 10.08 | 10.08 | 102 | 11.13 | 11.13 |
23 | 14.68 | 14.68 | 63 | 10.07 | 10.07 | 103 | 10.88 | 10.88 |
24 | 14.59 | 14.59 | 64 | 10.44 | 10.44 | 104 | 10.88 | 10.88 |
25 | 14.75 | 14.75 | 65 | 10.21 | 10.21 | 105 | 11.68 | 11.68 |
26 | 14.68 | 14.68 | 66 | 10.51 | 10.51 | 106 | 10.88 | 10.88 |
27 | 14.72 | 14.72 | 67 | 10.28 | 10.28 | 107 | 11.13 | 11.13 |
28 | 14.88 | 14.88 | 68 | 10.28 | 10.28 | 108 | 10.88 | 10.88 |
29 | 14.81 | 14.81 | 69 | 10.75 | 10.75 | 109 | 11.15 | 11.15 |
30 | 14.96 | 14.96 | 70 | 10.42 | 10.42 | 110 | 10.90 | 10.90 |
31 | 14.89 | 14.89 | 71 | 10.65 | 10.65 | 111 | 10.90 | 10.90 |
32 | 14.93 | 14.93 | 72 | 10.51 | 10.51 | 112 | 11.15 | 11.15 |
33 | 15.33 | 15.33 | 73 | 10.74 | 10.74 | 113 | 10.90 | 10.90 |
34 | 14.38 | 14.38 | 74 | 10.51 | 10.51 | 114 | 11.15 | 11.15 |
35 | 14.24 | 14.24 | 75 | 10.51 | 10.51 | 115 | 10.90 | 10.90 |
36 | 14.08 | 14.08 | 76 | 10.86 | 10.86 | 116 | 10.90 | 10.90 |
37 | 14.31 | 14.31 | 77 | 10.62 | 10.62 | 117 | 11.41 | 11.41 |
38 | 14.25 | 14.25 | 78 | 10.93 | 10.93 | 118 | 10.90 | 10.90 |
39 | 14.33 | 14.33 | 79 | 10.69 | 10.69 | 119 | 11.20 | 11.20 |
40 | 14.55 | 14.55 | 80 | 10.69 | 10.69 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 43 of 47
Group 1 - Excess Interest - Forward Indices | |||
Period | Excess Interest (%) | Period | Excess Interest (%) |
1 | 2.23 | 31 | 1.38 |
2 | 1.19 | 32 | 1.37 |
3 | 1.06 | 33 | 1.84 |
4 | 1.21 | 34 | 1.36 |
5 | 1.02 | 35 | 1.58 |
6 | 1.23 | 36 | 1.96 |
7 | 1.03 | 37 | 2.14 |
8 | 1.03 | 38 | 1.91 |
9 | 1.58 | 39 | 1.88 |
10 | 1.07 | 40 | 2.04 |
11 | 1.29 | 41 | 1.83 |
12 | 1.13 | 42 | 2.06 |
13 | 1.34 | 43 | 1.85 |
14 | 1.17 | 44 | 1.83 |
15 | 1.19 | 45 | 2.35 |
16 | 1.38 | 46 | 1.81 |
17 | 1.21 | 47 | 2.00 |
18 | 1.40 | 48 | 1.81 |
19 | 1.22 | 49 | 2.00 |
20 | 1.22 | 50 | 1.81 |
21 | 1.58 | 51 | 1.80 |
22 | 1.39 | 52 | 1.99 |
23 | 1.67 | 53 | 1.80 |
24 | 1.49 | 54 | 2.00 |
25 | 1.66 | 55 | 1.81 |
26 | 1.46 | 56 | 1.81 |
27 | 1.44 | 57 | 2.36 |
28 | 1.61 | 58 | 1.83 |
29 | 1.41 | 59 | 2.59 |
30 | 1.58 | 60 | 2.78 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 44 of 47
Group 2 - Excess Interest - Forward Indices | |||||
Period | Excess Interest (%) | Period | Excess Interest (%) | Period | Excess Interest (%) |
1 | 1.62 | 41 | 0.75 | 81 | 1.71 |
2 | 0.61 | 42 | 0.91 | 82 | 1.26 |
3 | 0.49 | 43 | 0.74 | 83 | 1.41 |
4 | 0.64 | 44 | 0.73 | 84 | 1.32 |
5 | 0.47 | 45 | 1.25 | 85 | 1.48 |
6 | 0.66 | 46 | 0.72 | 86 | 1.17 |
7 | 0.48 | 47 | 0.88 | 87 | 0.99 |
8 | 0.48 | 48 | 0.71 | 88 | 1.00 |
9 | 1.03 | 49 | 0.87 | 89 | 0.85 |
10 | 0.51 | 50 | 0.70 | 90 | 1.00 |
11 | 0.71 | 51 | 0.70 | 91 | 0.86 |
12 | 0.57 | 52 | 0.86 | 92 | 0.88 |
13 | 0.77 | 53 | 0.69 | 93 | 1.42 |
14 | 0.61 | 54 | 0.85 | 94 | 0.90 |
15 | 0.63 | 55 | 0.69 | 95 | 1.09 |
16 | 0.82 | 56 | 0.68 | 96 | 0.93 |
17 | 0.66 | 57 | 1.18 | 97 | 1.12 |
18 | 0.84 | 58 | 0.86 | 98 | 0.96 |
19 | 0.67 | 59 | 1.01 | 99 | 0.96 |
20 | 0.67 | 60 | 0.97 | 100 | 1.14 |
21 | 1.02 | 61 | 1.15 | 101 | 0.97 |
22 | 0.68 | 62 | 0.99 | 102 | 1.15 |
23 | 0.84 | 63 | 1.00 | 103 | 0.97 |
24 | 0.68 | 64 | 1.17 | 104 | 0.97 |
25 | 0.84 | 65 | 1.02 | 105 | 1.50 |
26 | 0.67 | 66 | 1.20 | 106 | 0.97 |
27 | 0.67 | 67 | 1.05 | 107 | 1.13 |
28 | 0.83 | 68 | 1.06 | 108 | 0.97 |
29 | 0.66 | 69 | 1.41 | 109 | 1.13 |
30 | 0.83 | 70 | 1.08 | 110 | 0.95 |
31 | 0.65 | 71 | 1.25 | 111 | 0.94 |
32 | 0.65 | 72 | 1.11 | 112 | 1.10 |
33 | 1.14 | 73 | 1.28 | 113 | 0.93 |
34 | 0.64 | 74 | 1.14 | 114 | 0.83 |
35 | 0.80 | 75 | 1.15 | 115 | 0.65 |
36 | 0.78 | 76 | 1.31 | 116 | 0.65 |
37 | 0.95 | 77 | 1.18 | 117 | 0.98 |
38 | 0.77 | 78 | 1.34 | 118 | 0.65 |
39 | 0.76 | 79 | 1.21 | 119 | 1.93 |
40 | 0.92 | 80 | 1.23 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 45 of 47
Group 1 Swap Agreement Notional Balance Schedule
Period | Notional Balance ($) | Rate | Period | Notional Balance ($) | Rate |
1 | 313,075,880 | 5.2296 | 31 | 120,119,920 | 5.2602 |
2 | 311,120,080 | 5.2299 | 32 | 116,449,275 | 5.2602 |
3 | 308,482,093 | 5.2303 | 33 | 112,890,005 | 5.2602 |
4 | 305,160,562 | 5.2306 | 34 | 109,438,710 | 5.2602 |
5 | 301,158,427 | 5.2310 | 35 | 94,369,890 | 5.2777 |
6 | 296,482,826 | 5.2313 | 36 | 91,483,325 | 5.2777 |
7 | 291,145,610 | 5.2317 | 37 | 75,008,630 | 5.2575 |
8 | 285,163,043 | 5.2321 | 38 | 72,713,065 | 5.2575 |
9 | 278,555,931 | 5.2325 | 39 | 70,487,160 | 5.2575 |
10 | 271,397,889 | 5.2328 | 40 | 68,328,830 | 5.2575 |
11 | 263,715,732 | 5.2330 | 41 | 66,236,040 | 5.2575 |
12 | 255,829,796 | 5.2331 | 42 | 64,206,890 | 5.2575 |
13 | 248,046,019 | 5.2331 | 43 | 62,239,305 | 5.2575 |
14 | 240,497,428 | 5.2331 | 44 | 60,331,510 | 5.2575 |
15 | 233,176,956 | 5.2331 | 45 | 58,481,740 | 5.2575 |
16 | 226,077,717 | 5.2331 | 46 | 56,688,175 | 5.2575 |
17 | 219,193,122 | 5.2331 | 47 | 54,949,115 | 5.2575 |
18 | 212,516,776 | 5.2331 | 48 | 53,262,925 | 5.2575 |
19 | 206,042,299 | 5.2331 | 49 | 51,628,105 | 5.2575 |
20 | 199,763,571 | 5.2331 | 50 | 50,042,980 | 5.2575 |
21 | 182,335,617 | 5.2626 | 51 | 48,506,095 | 5.2575 |
22 | 176,777,079 | 5.2626 | 52 | 47,016,060 | 5.2575 |
23 | 165,717,135 | 5.2659 | 53 | 45,571,385 | 5.2575 |
24 | 152,158,374 | 5.2628 | 54 | 44,170,655 | 5.2575 |
25 | 144,681,745 | 5.2602 | 55 | 42,812,550 | 5.2575 |
26 | 140,266,950 | 5.2602 | 56 | 41,495,855 | 5.2575 |
27 | 135,985,870 | 5.2602 | 57 | 40,219,290 | 5.2575 |
28 | 131,834,485 | 5.2602 | 58 | 38,981,630 | 5.2575 |
29 | 127,808,870 | 5.2602 | 59 | 22,987,365 | 5.3115 |
30 | 123,905,270 | 5.2602 | 60 | 2,862,060 | 5.4168 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 46 of 47
Group 2 Swap Agreement Notional Balance Schedule
Period | Notional Balance ($) | Rate | Period | Notional Balance ($) | Rate | Period | Notional Balance ($) | Rate |
1 | 135,430,585 | 5.1118 | 41 | 97,133,808 | 5.1143 | 81 | 12,214,501 | 5.2946 |
2 | 135,197,211 | 5.1119 | 42 | 96,710,688 | 5.1145 | 82 | 11,835,668 | 5.2946 |
3 | 134,945,481 | 5.1120 | 43 | 96,289,767 | 5.1147 | 83 | 11,468,455 | 5.2946 |
4 | 134,675,337 | 5.1121 | 44 | 95,870,594 | 5.1149 | 84 | 11,112,498 | 5.2946 |
5 | 134,387,242 | 5.1122 | 45 | 95,453,341 | 5.1151 | 85 | 10,767,478 | 5.2946 |
6 | 134,081,127 | 5.1123 | 46 | 95,037,901 | 5.1152 | 86 | 10,433,049 | 5.2946 |
7 | 133,756,942 | 5.1124 | 47 | 94,624,415 | 5.1154 | 87 | 10,108,881 | 5.2946 |
8 | 133,414,802 | 5.1125 | 48 | 94,213,013 | 5.1156 | 88 | 9,794,673 | 5.2946 |
9 | 133,054,726 | 5.1127 | 49 | 93,803,355 | 5.1158 | 89 | 9,490,113 | 5.2946 |
10 | 132,677,126 | 5.1128 | 50 | 93,395,526 | 5.1160 | 90 | 9,194,904 | 5.2946 |
11 | 132,282,255 | 5.1130 | 51 | 92,989,480 | 5.1162 | 91 | 8,908,775 | 5.2946 |
12 | 131,869,994 | 5.1131 | 52 | 92,585,258 | 5.1163 | 92 | 8,631,451 | 5.2946 |
13 | 131,440,538 | 5.1133 | 53 | 82,302,765 | 5.1821 | 93 | 8,362,661 | 5.2946 |
14 | 130,994,021 | 5.1134 | 54 | 81,955,145 | 5.1822 | 94 | 8,102,130 | 5.2946 |
15 | 130,530,664 | 5.1136 | 55 | 81,608,914 | 5.1824 | 95 | 7,849,617 | 5.2946 |
16 | 130,050,662 | 5.1138 | 56 | 81,264,236 | 5.1825 | 96 | 7,604,884 | 5.2946 |
17 | 129,554,279 | 5.1139 | 57 | 74,841,042 | 5.2166 | 97 | 7,367,686 | 5.2946 |
18 | 129,043,556 | 5.1141 | 58 | 56,292,057 | 5.2685 | 98 | 7,137,789 | 5.2946 |
19 | 128,518,948 | 5.1143 | 59 | 43,922,130 | 5.3039 | 99 | 6,914,974 | 5.2946 |
20 | 127,980,589 | 5.1145 | 60 | 23,612,631 | 5.2945 | 100 | 6,699,033 | 5.2946 |
21 | 127,428,505 | 5.1146 | 61 | 22,885,301 | 5.2945 | 101 | 6,489,758 | 5.2946 |
22 | 126,864,485 | 5.1148 | 62 | 22,180,149 | 5.2945 | 102 | 6,286,926 | 5.2946 |
23 | 126,293,674 | 5.1150 | 63 | 21,496,514 | 5.2945 | 103 | 6,090,348 | 5.2946 |
24 | 125,720,383 | 5.1151 | 64 | 20,833,761 | 5.2945 | 104 | 5,899,838 | 5.2946 |
25 | 125,149,827 | 5.1153 | 65 | 20,191,236 | 5.2945 | 105 | 5,715,218 | 5.2946 |
26 | 124,581,945 | 5.1154 | 66 | 19,568,338 | 5.2945 | 106 | 5,536,287 | 5.2946 |
27 | 124,016,932 | 5.1156 | 67 | 18,964,461 | 5.2945 | 107 | 5,362,886 | 5.2946 |
28 | 123,454,264 | 5.1157 | 68 | 18,379,030 | 5.2945 | 108 | 5,194,851 | 5.2946 |
29 | 122,894,530 | 5.1159 | 69 | 17,811,495 | 5.2945 | 109 | 5,032,004 | 5.2946 |
30 | 122,337,390 | 5.1160 | 70 | 17,261,314 | 5.2945 | 110 | 4,874,189 | 5.2946 |
31 | 121,783,069 | 5.1161 | 71 | 16,727,952 | 5.2945 | 111 | 4,721,265 | 5.2946 |
32 | 121,231,483 | 5.1163 | 72 | 16,210,893 | 5.2945 | 112 | 4,573,072 | 5.2946 |
33 | 120,682,361 | 5.1164 | 73 | 15,709,658 | 5.2945 | 113 | 4,429,458 | 5.2946 |
34 | 111,488,763 | 5.1248 | 74 | 15,223,749 | 5.2945 | 114 | 4,290,293 | 5.2946 |
35 | 106,667,514 | 5.1227 | 75 | 14,752,721 | 5.2945 | 115 | 4,155,432 | 5.2946 |
36 | 99,277,855 | 5.1134 | 76 | 14,296,124 | 5.2945 | 116 | 4,024,749 | 5.2946 |
37 | 98,845,064 | 5.1136 | 77 | 13,853,494 | 5.2945 | 117 | 3,898,125 | 5.2946 |
38 | 98,414,498 | 5.1138 | 78 | 13,424,419 | 5.2945 | 118 | 3,775,430 | 5.2946 |
39 | 97,985,676 | 5.1140 | 79 | 13,008,494 | 5.2946 | 119 | 1,575,629 | 5.4287 |
40 | 97,558,763 | 5.1142 | 80 | 12,605,318 | 5.2946 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 47 of 47
Contact Information |
Bear Stearns’ Banking Contacts | ||
Name: | Telephone: | E-Mail: |
Matthew Perkins Senior Managing Director | (212) 272-7977 | mperkins@bear.com |
Nicholas Smith Vice-President | (212) 272-1241 | nesmith@bear.com |
Lisa Marks Managing Director | (212) 272-6420 | lmarks@bear.com |
David Rush Analyst / Collateral | (212) 272-1230 | drush@bear.com |
Bear Stearns’ Trading Contacts | ||
Name: | Telephone: | E-Mail: |
Scott Eichel Senior Managing Director | (212) 272-5451 | seichel@bear.com |
Carol Fuller Senior Managing Director | (212) 272-4955 | cfuller@bear.com |
Angela Ward Associate Director | (212) 272-4955 | adward@bear.com |
Rating Agency Contacts | ||
Name: | Telephone: | E-Mail: |
Eric Fellows Moody’s | (415) 274-1728 | Eric.Fellows@moodys.com |
David Glehan Standard and Poor’s | (212) 438-7324 | David_Glehan@sandp.com |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | Bear, Stearns & Co. Inc. |
ATLANTA • BOSTON • CHICAGO | Asset-Backed Securities Group |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 |
LONDON • PARIS • TOKYO | (212) 272-2000 |
Part II of II
New Issue Computational Materials
$615,010,000 (Approximate)
Impac Secured Assets Corp.,
Mortgage Pass-Through Certificates, Series 2006-2
![](https://capedge.com/proxy/FWP/0001144204-06-026593/impac_logo.jpg)
Impac Funding Corporation
Seller and Master ServicerGMAC Mortgage Corporation
Sub-Servicer
June 20, 2006
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | Bear, Stearns & Co. Inc. |
ATLANTA • BOSTON • CHICAGO | Asset-Backed Securities Group |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 |
LONDON • PARIS • TOKYO | (212) 272-2000 |
STATEMENT REGARDING FREE WRITING PROSPECTUS
The issuer has filed a registration statement (File No. 333-131328) (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll free 1-866-803-9204.
This free writing prospectus does not contain all information that is required to be included in the base prospectus and the prospectus supplement.
The Information contained in this free writing prospectus (the “Information”) is preliminary and is subject to completion or change.
The Information in this free writing prospectus supersedes information contained in any prior similar free writing prospectus relating to these securities prior to the time of your commitment to purchase.
This free writing prospectus is not an offer to sell or solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.
The securities referred to in this free writing prospectus are being sold when, as and if issued. The issuer is not obligated to issue such securities or any similar security and our obligation to deliver such securities is subject to the terms and conditions of our underwriting agreement with the issuer and the availability of such security when, as and if issued by the issuer. You are advised that the terms of the securities, and the characteristics of the mortgage loan pool backing them, may change (due, among other things, to the possibility that mortgage loans that comprise the pool may become delinquent or defaulted or may be removed or replaced and that similar or different mortgage loans may be added to the pool, and that one or more classes of securities may be split, combined or eliminated), at any time prior to issuance or availability of a final prospectus. You are advised that securities may not be issued that have the characteristics described in this free writing prospectus. Our obligation to sell such securities to you is conditioned on the mortgage loans and certificates having the characteristics described in the preliminary prospectus. If for any reason we do not deliver such securities, we will notify you, and neither the issuer nor any underwriter will have any obligation to you to deliver all or any portion of the securities which you have committed to purchase, and none of the issuer nor any underwriter will be liable for any costs or damages whatsoever arising from or related to such non-delivery.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS
Any legends, disclaimers or other notices that may appear with this communication to which this free writing prospectus is attached relating to:
(1) | these materials not constituting an offer (or a solicitation of an offer), |
(2) | representations that these materials are not accurate or complete and may not be updated, or |
(3) | these materials possibly being confidential, |
are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | Bear, Stearns & Co. Inc. |
ATLANTA • BOSTON • CHICAGO | Asset-Backed Securities Group |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 |
LONDON • PARIS • TOKYO | (212) 272-2000 |
SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION
The information contained in the attached materials may include various forms of performance analysis, security characteristics and securities pricing estimates for the securities described therein. Should you receive Information that refers to the “Statement Regarding Assumptions and Other Information”, please refer to this statement instead. The Information is illustrative and is not intended to predict actual results which may differ substantially from those reflected in the Information. Performance analysis is based on certain assumptions with respect to significant factors that may prove not to be as assumed. Performance results are based on mathematical models that use inputs to calculate results. As with all models, results may vary significantly depending upon the value given to the inputs. Inputs to these models include but are not limited to: prepayment expectations (econometric prepayment models, single expected lifetime prepayments or a vector of periodic prepayments), interest rate assumptions (parallel and nonparallel changes for different maturity instruments), collateral assumptions (actual pool level data, aggregated pool level data, reported factors or imputed factors), volatility assumptions (historically observed or implied current) and reported information (paydown factors, rate resets, remittance reports and trustee statements). Models used in any analysis may be proprietary, the results therefore, may be difficult for any third party to reproduce. Contact your registered representative for detailed explanations of any modeling techniques employed in the Information.
The Information may not reflect the impact of all structural characteristics of the security, including call events and cash flow priorities at all prepayment speeds and/or interest rates. You should consider whether the behavior of these securities should be tested using assumptions different from those included in the Information. The assumptions underlying the Information, including structure and collateral, may be modified from time to time to reflect changed facts and circumstances. Offering Documents contain data that is current as of their publication dates and after publication may no longer be accurate, complete or current. Contact your registered representative for Offering Documents, current Information or additional materials, including other models for performance analysis, which are likely to produce different results, and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent our view, at the time determined, of the investment value of the securities between the estimated bid and offer levels, the spread between which may be significant due to market volatility or illiquidity, (b) do not constitute a bid by Bear Stearns or any other person for any security, (c) may not constitute prices at which the securities could have been purchased or sold in any market at any time, (d) have not been confirmed by actual trades, may vary from the value Bear Stearns assigns or may be assigned to any such security while in its inventory, and may not take into account the size of a position you have in the security, and (e) may have been derived from matrix pricing that uses data relating to other securities whose prices are more readily ascertainable to produce a hypothetical price based on the estimated yield spread relationship between the securities.
General Information: Bear Stearns and/or individuals associated therewith may have positions in these securities while the Information is circulating or during such period may engage in transactions with the issuer or its affiliates. We act as principal in transactions with you, and accordingly, you must determine the appropriateness for you of such transactions and address any legal, tax or accounting considerations applicable to you. Bear Stearns shall not be a fiduciary or advisor unless we have agreed in writing to receive compensation specifically to act in such capacities. If you are subject to ERISA, the Information is being furnished on the condition that it will not form a primary basis for any investment decision.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 1 of 30
Group 1 Mortgage Loans
Summary of Loans in Sample Calculation Pool
(As of Sample Calculation Date)
Range | ||||||
Total Number of Loans | 1,942 | |||||
Total Outstanding Balance | $584,803,152.72 | |||||
Average Loan Balance | $301,134.48 | $19,987.94 | to | $1,815,000.00 | ||
WA Mortgage Rate | 7.346% | 4.625% | to | 14.500% | ||
WA Mortgage Rate Net LPMI | 7.341% | 4.625% | to | 14.500% | ||
Net WAC | 6.929% | 4.220% | to | 13.720% | ||
% of Fixed Rate Mortgage Loans | 1.90% | |||||
% of ARM Loans | 98.10% | |||||
ARM Characteristics | ||||||
WA Gross Margin | 3.818% | 1.875% | to | 9.000% | ||
WA Months to First Roll | 50 | 1 | to | 119 | ||
WA Initial Rate Cap | 3.485% | 1.000% | to | 6.000% | ||
WA Subsequent Rate Cap | 1.202% | 1.000% | to | 2.000% | ||
WA Lifetime Cap | 13.149% | 9.950% | to | 19.250% | ||
WA Lifetime Floor | 4.034% | 1.875% | to | 11.000% | ||
WA Original Term (months) | 357 | 180 | to | 360 | ||
WA Remaining Term (months) | 355 | 163 | to | 360 | ||
WA Age (months) | 2 | 0 | to | 49 | ||
WA LTV | 76.31% | 14.57% | to | 100.00% | ||
WA FICO | 696 | |||||
WA DTI% | 40.10% | |||||
Secured by (% of pool) | ||||||
1st Liens | 98.10% | |||||
Prepayment Penalty at Loan Orig (% of all loans) | 71.09% | |||||
Prepay Moves Exempted | ||||||
Soft | 8.41% | |||||
Hard | 62.69% | |||||
No Prepay | 28.91% | |||||
% Interest Only | 86.29% | |||||
WA Interest Only Term | 85 | |||||
% Silent Seconds | 70.69% | |||||
% Loans LTV Greater than 80.00 | 4.80% | |||||
% Loans LTV Greater than 80.00 and have MI | 1.90% |
Top 5 States (%) | Top 5 Prop Types (%) | Top 5 Doc Types (%) | Purpose Codes (%) | Occ Codes (%) | Orig PP Term (%) | |||||||||||
CA | 57.42 | SFR | 59.22 | Stated | 69.70 | PUR | 69.94 | OO | 73.42 | None | 28.91 | |||||
FL | 9.99 | D PUD | 12.08 | Exp VA | 11.57 | REFI/CO | 23.80 | NOO | 22.52 | 6 | 1.18 | |||||
VA | 7.04 | CND | 10.19 | Full | 7.14 | REFI/RT | 6.25 | 2nd HM | 4.06 | 12 | 22.91 | |||||
MD | 5.61 | PUD | 6.88 | SISA | 4.90 | 24 | 15.93 | |||||||||
NV | 2.90 | 2F | 3.90 | Exp NVA | 3.40 | 36 | 27.81 | |||||||||
60 | 3.28 | |||||||||||||||
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 2 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
10/1LIBOR IO | 215,800.00 | 2 | 0.04 | 107,900.00 | 6.500 | 357 | 717 | 79.99 |
15YR BALLOON | 5,007,730.83 | 71 | 0.86 | 70,531.42 | 10.788 | 173 | 691 | 97.23 |
BALLOON IO | 3,826,707.39 | 48 | 0.65 | 79,723.07 | 11.964 | 175 | 678 | 98.57 |
FIXED | 507,826.53 | 11 | 0.09 | 46,166.05 | 11.689 | 292 | 647 | 98.19 |
FIXED IO | 1,766,121.15 | 19 | 0.30 | 92,953.74 | 11.857 | 262 | 684 | 99.09 |
LIBOR 1/1 ARM | 695,149.18 | 3 | 0.12 | 231,716.39 | 8.341 | 358 | 651 | 70.05 |
LIBOR 1/1 ARM IO | 8,523,191.03 | 22 | 1.46 | 387,417.77 | 7.130 | 357 | 689 | 77.04 |
LIBOR 10/6 ARM | 263,613.37 | 2 | 0.05 | 131,806.69 | 7.740 | 358 | 718 | 78.95 |
LIBOR 10/6 ARM IO | 2,090,020.00 | 8 | 0.36 | 261,252.50 | 6.859 | 358 | 742 | 76.88 |
LIBOR 2/6 ARM | 17,509,007.80 | 82 | 2.99 | 213,524.49 | 7.949 | 358 | 677 | 77.78 |
LIBOR 2/6 ARM 40YR BLN. | 3,044,336.89 | 9 | 0.52 | 338,259.65 | 8.089 | 359 | 694 | 76.41 |
LIBOR 2/6 ARM IO | 57,496,079.27 | 178 | 9.83 | 323,011.68 | 7.655 | 358 | 689 | 77.47 |
LIBOR 3/6 ARM | 14,108,423.57 | 41 | 2.41 | 344,107.89 | 7.204 | 359 | 699 | 78.61 |
LIBOR 3/6 ARM 40YR BLN. | 3,273,879.40 | 8 | 0.56 | 409,234.93 | 7.609 | 359 | 680 | 78.49 |
LIBOR 3/6 ARM IO | 107,847,958.28 | 322 | 18.44 | 334,931.55 | 7.017 | 359 | 699 | 74.81 |
LIBOR 5/1 ARM | 415,994.33 | 2 | 0.07 | 207,997.17 | 7.313 | 357 | 660 | 80.00 |
LIBOR 5/1 ARM IO | 11,295,450.47 | 33 | 1.93 | 342,286.38 | 6.971 | 358 | 703 | 76.80 |
LIBOR 5/6 ARM | 23,557,293.43 | 100 | 4.03 | 235,572.93 | 7.530 | 358 | 699 | 76.12 |
LIBOR 5/6 ARM 40YR BLN. | 2,924,927.20 | 9 | 0.50 | 324,991.91 | 7.564 | 304 | 665 | 73.73 |
LIBOR 5/6 ARM IO | 229,773,424.04 | 737 | 39.29 | 311,768.55 | 7.262 | 358 | 698 | 76.20 |
LIBOR 6M ARM | 948,666.77 | 3 | 0.16 | 316,222.26 | 7.749 | 320 | 634 | 70.36 |
LIBOR 6M ARM IO | 7,428,316.88 | 21 | 1.27 | 353,729.38 | 7.637 | 352 | 679 | 78.86 |
LIBOR 7/1 ARM IO | 3,197,500.00 | 5 | 0.55 | 639,500.00 | 6.164 | 358 | 711 | 69.63 |
LIBOR 7/6 ARM | 7,911,130.22 | 23 | 1.35 | 343,962.18 | 7.305 | 359 | 696 | 71.36 |
LIBOR 7/6 ARM IO | 68,171,504.69 | 178 | 11.66 | 382,985.98 | 7.144 | 359 | 697 | 74.57 |
TREAS. 5/1 ARM IO | 435,000.00 | 1 | 0.07 | 435,000.00 | 5.875 | 359 | 666 | 65.41 |
TREAS. 7/1 ARM | 2,568,100.00 | 4 | 0.44 | 642,025.00 | 6.578 | 359 | 709 | 70.40 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 3 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0.00 - 250,000.00 | 129,096,501.12 | 835 | 22.08 | 154,606.59 | 7.847 | 344 | 694 | 77.98 |
250,000.01 - 300,000.00 | 74,945,797.97 | 272 | 12.82 | 275,536.02 | 7.328 | 358 | 693 | 76.52 |
300,000.01 - 350,000.00 | 65,973,788.68 | 202 | 11.28 | 326,602.91 | 7.255 | 358 | 694 | 76.64 |
350,000.01 - 400,000.00 | 63,576,849.57 | 169 | 10.87 | 376,194.38 | 7.091 | 358 | 695 | 77.07 |
400,000.01 - 450,000.00 | 62,140,019.55 | 146 | 10.63 | 425,616.57 | 7.136 | 359 | 699 | 76.88 |
450,000.01 - 500,000.00 | 52,815,628.40 | 111 | 9.03 | 475,816.47 | 7.361 | 358 | 701 | 78.09 |
500,000.01 - 550,000.00 | 32,314,413.67 | 62 | 5.53 | 521,200.22 | 7.211 | 358 | 697 | 75.82 |
550,000.01 - 600,000.00 | 24,264,395.52 | 42 | 4.15 | 577,723.70 | 7.221 | 359 | 706 | 76.46 |
600,000.01 - 650,000.00 | 23,300,610.24 | 37 | 3.98 | 629,746.22 | 7.043 | 357 | 708 | 71.93 |
650,000.01 - 700,000.00 | 9,464,240.87 | 14 | 1.62 | 676,017.21 | 7.181 | 358 | 685 | 74.60 |
700,000.01 - 750,000.00 | 15,438,586.13 | 21 | 2.64 | 735,170.77 | 7.430 | 359 | 681 | 72.47 |
750,000.01 - 800,000.00 | 3,122,360.51 | 4 | 0.53 | 780,590.13 | 7.572 | 358 | 679 | 79.87 |
800,000.01 - 850,000.00 | 4,977,991.83 | 6 | 0.85 | 829,665.31 | 6.835 | 358 | 697 | 71.53 |
850,000.01 - 900,000.00 | 3,528,750.00 | 4 | 0.60 | 882,187.50 | 6.977 | 313 | 727 | 71.50 |
900,000.01 - 950,000.00 | 2,796,250.00 | 3 | 0.48 | 932,083.33 | 6.955 | 359 | 699 | 70.86 |
950,000.01 - 1,000,000.00 | 4,935,300.00 | 5 | 0.84 | 987,060.00 | 6.927 | 359 | 679 | 67.05 |
1,050,000.01 - 1,150,000.00 | 3,332,251.60 | 3 | 0.57 | 1,110,750.53 | 6.323 | 358 | 723 | 62.37 |
1,150,000.01 - 1,200,000.00 | 1,169,017.06 | 1 | 0.20 | 1,169,017.06 | 6.875 | 358 | 667 | 65.00 |
1,400,000.01 - 1,450,000.00 | 2,855,400.00 | 2 | 0.49 | 1,427,700.00 | 6.625 | 358 | 706 | 65.21 |
1,450,000.01 - 1,750,000.00 | 2,940,000.00 | 2 | 0.50 | 1,470,000.00 | 7.475 | 359 | 666 | 70.00 |
1,800,000.01 + | 1,815,000.00 | 1 | 0.31 | 1,815,000.00 | 6.250 | 359 | 716 | 54.18 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 4 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0.00 - 50,000.00 | 129,096,501.12 | 835 | 22.08 | 154,606.59 | 7.847 | 344 | 694 | 77.98 |
250,000.01 - 300,000.00 | 74,646,040.64 | 271 | 12.76 | 275,446.64 | 7.326 | 358 | 693 | 76.50 |
300,000.01 - 350,000.00 | 65,938,346.80 | 202 | 11.28 | 326,427.46 | 7.260 | 358 | 694 | 76.66 |
350,000.01 - 400,000.00 | 63,912,048.78 | 170 | 10.93 | 375,953.23 | 7.089 | 358 | 695 | 77.06 |
400,000.01 - 450,000.00 | 62,140,019.55 | 146 | 10.63 | 425,616.57 | 7.136 | 359 | 699 | 76.88 |
450,000.01 - 500,000.00 | 52,318,869.73 | 110 | 8.95 | 475,626.09 | 7.349 | 358 | 702 | 78.19 |
500,000.01 - 550,000.00 | 32,264,436.91 | 62 | 5.52 | 520,394.14 | 7.246 | 358 | 696 | 75.53 |
550,000.01 - 600,000.00 | 24,811,130.95 | 43 | 4.24 | 577,003.05 | 7.202 | 358 | 705 | 76.65 |
600,000.01 - 650,000.00 | 23,300,610.24 | 37 | 3.98 | 629,746.22 | 7.043 | 357 | 708 | 71.93 |
650,000.01 - 700,000.00 | 9,464,240.87 | 14 | 1.62 | 676,017.21 | 7.181 | 358 | 685 | 74.60 |
700,000.01 - 750,000.00 | 15,438,586.13 | 21 | 2.64 | 735,170.77 | 7.430 | 359 | 681 | 72.47 |
750,000.01 - 800,000.00 | 3,122,360.51 | 4 | 0.53 | 780,590.13 | 7.572 | 358 | 679 | 79.87 |
800,000.01 - 850,000.00 | 4,977,991.83 | 6 | 0.85 | 829,665.31 | 6.835 | 358 | 697 | 71.53 |
850,000.01 - 900,000.00 | 3,528,750.00 | 4 | 0.60 | 882,187.50 | 6.977 | 313 | 727 | 71.50 |
900,000.01 - 950,000.00 | 2,796,250.00 | 3 | 0.48 | 932,083.33 | 6.955 | 359 | 699 | 70.86 |
950,000.01 - 1,000,000.00 | 4,935,300.00 | 5 | 0.84 | 987,060.00 | 6.927 | 359 | 679 | 67.05 |
1,050,000.01 - 1,150,000.00 | 3,332,251.60 | 3 | 0.57 | 1,110,750.53 | 6.323 | 358 | 723 | 62.37 |
1,150,000.01 - 1,200,000.00 | 1,169,017.06 | 1 | 0.20 | 1,169,017.06 | 6.875 | 358 | 667 | 65.00 |
1,400,000.01 - 1,450,000.00 | 2,855,400.00 | 2 | 0.49 | 1,427,700.00 | 6.625 | 358 | 706 | 65.21 |
1,450,000.01 - 1,750,000.00 | 2,940,000.00 | 2 | 0.50 | 1,470,000.00 | 7.475 | 359 | 666 | 70.00 |
1,800,000.01 + | 1,815,000.00 | 1 | 0.31 | 1,815,000.00 | 6.250 | 359 | 716 | 54.18 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 5 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
California | 335,817,203.55 | 925 | 57.42 | 363,045.63 | 7.168 | 355 | 698 | 75.46 |
Florida | 58,429,661.98 | 256 | 9.99 | 228,240.87 | 7.763 | 353 | 701 | 77.53 |
Virginia | 41,179,188.00 | 135 | 7.04 | 305,031.02 | 7.520 | 358 | 681 | 78.77 |
Maryland | 32,784,200.11 | 123 | 5.61 | 266,538.21 | 7.665 | 356 | 682 | 78.36 |
Nevada | 16,957,281.33 | 66 | 2.90 | 256,928.51 | 7.416 | 347 | 700 | 76.74 |
Arizona | 14,122,697.64 | 70 | 2.41 | 201,752.82 | 7.510 | 356 | 686 | 77.63 |
New York | 13,964,126.86 | 38 | 2.39 | 367,477.02 | 7.720 | 357 | 698 | 76.46 |
Washington | 8,859,026.63 | 40 | 1.51 | 221,475.67 | 7.270 | 351 | 709 | 77.08 |
Illinois | 6,855,895.99 | 39 | 1.17 | 175,792.20 | 7.788 | 346 | 710 | 78.24 |
Other | 55,833,870.63 | 250 | 9.55 | 223,335.48 | 7.466 | 354 | 690 | 76.28 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
* All States with loan concentrations less than 1% of the total Group 1A balance were placed in the other category.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 6 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
10.01 - 15.00 | 84,849.61 | 1 | 0.01 | 84,849.61 | 6.625 | 358 | 789 | 14.57 |
15.01 - 20.00 | 926,227.29 | 3 | 0.16 | 308,742.43 | 5.282 | 356 | 725 | 16.20 |
20.01 - 25.00 | 130,000.00 | 1 | 0.02 | 130,000.00 | 8.000 | 360 | 618 | 21.31 |
25.01 - 30.00 | 580,000.00 | 4 | 0.10 | 145,000.00 | 6.393 | 360 | 733 | 28.34 |
30.01 - 35.00 | 850,268.76 | 5 | 0.15 | 170,053.75 | 6.364 | 359 | 715 | 34.14 |
35.01 - 40.00 | 1,142,250.00 | 5 | 0.20 | 228,450.00 | 7.378 | 357 | 734 | 39.01 |
40.01 - 45.00 | 1,281,765.81 | 6 | 0.22 | 213,627.64 | 6.647 | 359 | 683 | 43.96 |
45.01 - 50.00 | 5,446,176.62 | 15 | 0.93 | 363,078.44 | 6.189 | 357 | 721 | 47.75 |
50.01 - 55.00 | 7,082,041.30 | 18 | 1.21 | 393,446.74 | 6.504 | 359 | 702 | 53.08 |
55.01 - 60.00 | 7,983,716.60 | 26 | 1.37 | 307,066.02 | 6.870 | 359 | 707 | 57.80 |
60.01 - 65.00 | 21,533,324.66 | 50 | 3.68 | 430,666.49 | 6.665 | 358 | 690 | 63.71 |
65.01 - 70.00 | 83,862,311.17 | 242 | 14.34 | 346,538.48 | 6.949 | 356 | 709 | 69.41 |
70.01 - 75.00 | 83,540,409.69 | 242 | 14.29 | 345,208.30 | 7.113 | 359 | 706 | 74.60 |
75.01 - 80.00 | 342,300,406.29 | 1,111 | 58.53 | 308,101.18 | 7.439 | 358 | 690 | 79.87 |
80.01 - 85.00 | 4,540,685.22 | 14 | 0.78 | 324,334.66 | 7.275 | 348 | 681 | 83.85 |
85.01 - 90.00 | 10,506,247.75 | 66 | 1.80 | 159,185.57 | 8.748 | 337 | 689 | 89.42 |
90.01 - 95.00 | 4,081,261.38 | 28 | 0.70 | 145,759.34 | 8.562 | 322 | 705 | 94.89 |
95.01 + | 8,931,210.57 | 105 | 1.53 | 85,059.15 | 11.437 | 197 | 683 | 99.89 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 7 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
4.500 - 4.999 | 950,700.00 | 2 | 0.16 | 475,350.00 | 4.704 | 356 | 721 | 21.84 |
5.000 - 5.499 | 1,635,500.00 | 5 | 0.28 | 327,100.00 | 5.270 | 352 | 746 | 61.01 |
5.500 - 5.999 | 17,994,024.70 | 51 | 3.08 | 352,824.01 | 5.799 | 357 | 726 | 67.15 |
6.000 - 6.499 | 45,713,677.06 | 119 | 7.82 | 384,148.55 | 6.252 | 358 | 707 | 71.91 |
6.500 - 6.999 | 159,014,071.31 | 464 | 27.19 | 342,702.74 | 6.741 | 357 | 707 | 74.44 |
7.000 - 7.499 | 126,419,762.40 | 387 | 21.62 | 326,666.05 | 7.214 | 358 | 697 | 76.57 |
7.500 - 7.999 | 132,568,582.71 | 436 | 22.67 | 304,056.38 | 7.686 | 358 | 686 | 77.93 |
8.000 - 8.499 | 51,279,365.48 | 179 | 8.77 | 286,476.90 | 8.176 | 358 | 682 | 78.44 |
8.500 - 8.999 | 24,465,720.86 | 98 | 4.18 | 249,650.21 | 8.668 | 354 | 675 | 79.55 |
9.000 - 9.499 | 8,151,932.59 | 35 | 1.39 | 232,912.36 | 9.159 | 351 | 671 | 81.68 |
9.500 - 9.999 | 4,423,518.36 | 27 | 0.76 | 163,834.01 | 9.665 | 337 | 685 | 82.52 |
10.000 - 10.499 | 1,633,527.30 | 9 | 0.28 | 181,503.03 | 10.117 | 327 | 685 | 85.75 |
10.500 - 10.999 | 1,379,927.33 | 18 | 0.24 | 76,662.63 | 10.679 | 224 | 673 | 95.30 |
11.000 - 11.499 | 1,930,951.12 | 24 | 0.33 | 80,456.30 | 11.202 | 233 | 684 | 94.05 |
11.500 - 11.999 | 2,883,750.02 | 35 | 0.49 | 82,392.86 | 11.730 | 214 | 672 | 97.67 |
12.000 - 12.499 | 2,360,792.71 | 32 | 0.40 | 73,774.77 | 12.135 | 212 | 682 | 97.43 |
12.500 - 12.999 | 1,367,235.49 | 14 | 0.23 | 97,659.68 | 12.738 | 202 | 677 | 99.91 |
13.000 - 13.499 | 219,457.26 | 2 | 0.04 | 109,728.63 | 13.181 | 355 | 643 | 92.74 |
13.500 - 13.999 | 238,898.00 | 3 | 0.04 | 79,632.67 | 13.700 | 175 | 647 | 100.00 |
14.000 - 14.499 | 75,958.02 | 1 | 0.01 | 75,958.02 | 14.000 | 176 | 644 | 100.00 |
14.500 - 14.999 | 95,800.00 | 1 | 0.02 | 95,800.00 | 14.500 | 176 | 644 | 100.00 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 8 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
2-FAMILY | 22,790,749.92 | 76 | 3.90 | 299,878.29 | 7.647 | 354 | 698 | 75.12 |
3-FAMILY | 11,927,465.77 | 33 | 2.04 | 361,438.36 | 7.834 | 357 | 722 | 73.14 |
4-FAMILY | 16,762,888.90 | 42 | 2.87 | 399,116.40 | 7.682 | 358 | 705 | 73.66 |
C-RETAIL | 892,500.00 | 1 | 0.15 | 892,500.00 | 6.900 | 179 | 725 | 70.00 |
CONDO | 59,566,910.67 | 241 | 10.19 | 247,165.60 | 7.308 | 358 | 701 | 76.79 |
CONDONONWA | 305,090.00 | 2 | 0.05 | 152,545.00 | 7.875 | 358 | 769 | 74.99 |
CONDOTEL | 280,000.00 | 2 | 0.05 | 140,000.00 | 8.000 | 360 | 794 | 80.00 |
D-PUDS | 70,643,137.85 | 207 | 12.08 | 341,271.20 | 7.224 | 355 | 700 | 76.90 |
HI-RISE | 7,025,455.11 | 19 | 1.20 | 369,760.80 | 7.275 | 356 | 712 | 72.89 |
PUD | 40,219,481.33 | 134 | 6.88 | 300,145.38 | 7.307 | 355 | 699 | 77.77 |
SFR | 346,295,719.96 | 1,153 | 59.22 | 300,343.21 | 7.318 | 354 | 692 | 76.24 |
TOWNHOUSE | 8,093,753.21 | 32 | 1.38 | 252,929.79 | 7.914 | 355 | 687 | 80.59 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
Cash Out Refinance | 139,204,618.63 | 446 | 23.80 | 312,117.98 | 7.273 | 355 | 685 | 72.09 |
Purchase | 409,025,684.99 | 1,395 | 69.94 | 293,208.38 | 7.422 | 355 | 700 | 78.28 |
Rate/Term Refinance | 36,572,849.10 | 101 | 6.25 | 362,107.42 | 6.774 | 356 | 687 | 70.41 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
Investor | 131,701,050.75 | 502 | 22.52 | 262,352.69 | 7.508 | 357 | 706 | 73.79 |
Owner Occupied | 429,356,100.89 | 1,353 | 73.42 | 317,336.36 | 7.299 | 354 | 692 | 77.15 |
Second Home | 23,746,001.08 | 87 | 4.06 | 272,942.54 | 7.309 | 359 | 715 | 75.18 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 9 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
121 - 180 | 10,508,240.98 | 131 | 1.80 | 80,215.58 | 10.954 | 174 | 688 | 95.56 |
181 - 240 | 471,298.09 | 6 | 0.08 | 78,549.68 | 11.875 | 234 | 639 | 100.00 |
241 - 360 | 573,823,613.65 | 1,805 | 98.12 | 317,907.82 | 7.276 | 358 | 696 | 75.94 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
Alternative | 486,000.00 | 1 | 0.08 | 486,000.00 | 7.650 | 357 | 652 | 78.39 |
Express No Doc | 14,716,355.64 | 57 | 2.52 | 258,181.68 | 7.605 | 358 | 705 | 76.75 |
Express No Doc Verified Assets | 3,235,900.00 | 9 | 0.55 | 359,544.44 | 7.193 | 358 | 718 | 82.31 |
Express Non-Verified Assets | 19,889,330.23 | 60 | 3.40 | 331,488.84 | 7.514 | 357 | 694 | 75.57 |
Express Verified Assets | 67,657,600.87 | 206 | 11.57 | 328,434.96 | 7.488 | 358 | 699 | 77.18 |
FISA | 138,275.29 | 2 | 0.02 | 69,137.65 | 8.261 | 314 | 695 | 84.61 |
Full | 41,764,537.27 | 167 | 7.14 | 250,087.05 | 6.893 | 352 | 700 | 74.97 |
NINA | 622,100.00 | 3 | 0.11 | 207,366.67 | 6.732 | 353 | 666 | 75.96 |
SISA | 28,676,280.81 | 91 | 4.90 | 315,123.96 | 7.317 | 358 | 702 | 76.37 |
Stated | 407,616,772.61 | 1,346 | 69.70 | 302,835.64 | 7.355 | 354 | 694 | 76.27 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 10 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
N/A | 675,248.10 | 3 | 0.12 | 225,082.70 | 7.268 | 356 | 0 | 80.00 |
561 - 580 | 140,000.00 | 1 | 0.02 | 140,000.00 | 7.625 | 359 | 579 | 70.00 |
581 - 600 | 952,654.55 | 7 | 0.16 | 136,093.51 | 9.067 | 314 | 592 | 73.79 |
601 - 620 | 7,985,888.00 | 27 | 1.37 | 295,773.63 | 7.578 | 356 | 615 | 74.99 |
621 - 640 | 57,448,874.36 | 191 | 9.82 | 300,779.45 | 7.583 | 357 | 631 | 76.78 |
641 - 660 | 84,109,027.22 | 294 | 14.38 | 286,085.13 | 7.656 | 352 | 650 | 76.89 |
661 - 680 | 93,830,249.73 | 321 | 16.04 | 292,306.07 | 7.542 | 354 | 670 | 77.90 |
681 - 700 | 84,855,240.38 | 280 | 14.51 | 303,054.43 | 7.377 | 355 | 690 | 77.60 |
701 - 720 | 79,399,411.73 | 258 | 13.58 | 307,749.66 | 7.181 | 356 | 710 | 75.78 |
721 - 740 | 65,890,812.65 | 210 | 11.27 | 313,765.77 | 7.088 | 354 | 730 | 75.22 |
741 - 760 | 47,049,287.43 | 146 | 8.05 | 322,255.39 | 7.018 | 358 | 750 | 74.81 |
761 - 780 | 32,757,541.01 | 111 | 5.60 | 295,112.98 | 7.142 | 355 | 769 | 75.11 |
781 - 800 | 26,437,817.56 | 81 | 4.52 | 326,392.81 | 6.950 | 358 | 789 | 72.79 |
801 + | 3,271,100.00 | 12 | 0.56 | 272,591.67 | 6.945 | 359 | 807 | 74.69 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 11 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
No Prepay | 169,041,420.12 | 618 | 28.91 | 273,529.81 | 7.523 | 353 | 700 | 76.19 |
6 Month | 6,881,494.11 | 26 | 1.18 | 264,672.85 | 7.613 | 352 | 692 | 78.21 |
1 Year | 133,969,727.46 | 412 | 22.91 | 325,169.24 | 7.266 | 354 | 698 | 75.49 |
2 Year | 93,130,515.97 | 310 | 15.93 | 300,421.02 | 7.408 | 356 | 689 | 76.89 |
3 Year | 162,621,889.06 | 516 | 27.81 | 315,158.70 | 7.201 | 358 | 693 | 76.90 |
5 Year | 19,158,106.00 | 60 | 3.28 | 319,301.77 | 7.186 | 349 | 703 | 74.75 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
FIXED | 11,108,385.90 | 149 | 1.90 | 74,552.93 | 11.404 | 193 | 684 | 98.03 |
0.01 - 12.99 | 19,025,960.58 | 52 | 3.25 | 365,883.86 | 7.330 | 352 | 679 | 77.54 |
13.00 - 18.99 | 6,371,378.31 | 25 | 1.09 | 254,855.13 | 6.615 | 351 | 662 | 75.56 |
19.00 - 24.99 | 70,439,908.93 | 242 | 12.05 | 291,074.00 | 7.865 | 358 | 690 | 77.51 |
25.00 - 31.99 | 816,363.28 | 4 | 0.14 | 204,090.82 | 6.571 | 352 | 667 | 80.00 |
32.00 - 49.99 | 124,413,897.97 | 367 | 21.27 | 339,002.45 | 7.057 | 359 | 699 | 75.30 |
50.00 - 55.99 | 1,476,425.00 | 5 | 0.25 | 295,285.00 | 5.483 | 354 | 722 | 46.77 |
56.00 - 79.99 | 266,733,164.47 | 876 | 45.61 | 304,489.91 | 7.285 | 358 | 697 | 76.36 |
80.00 + | 84,417,668.28 | 222 | 14.44 | 380,259.77 | 7.098 | 359 | 699 | 74.04 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 12 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
FIXED | 11,108,385.90 | 149 | 1.90 | 74,552.93 | 11.404 | 193 | 684 | 98.03 |
1.750 - 1.999 | 228,000.00 | 1 | 0.04 | 228,000.00 | 5.875 | 358 | 801 | 80.00 |
2.250 - 2.499 | 56,741,639.30 | 171 | 9.70 | 331,822.45 | 6.910 | 358 | 712 | 74.89 |
2.500 - 2.749 | 7,011,394.17 | 21 | 1.20 | 333,875.91 | 6.889 | 355 | 716 | 76.28 |
2.750 - 2.999 | 23,144,338.55 | 72 | 3.96 | 321,449.15 | 7.231 | 351 | 693 | 75.38 |
3.000 - 3.249 | 10,438,695.66 | 34 | 1.78 | 307,020.46 | 7.574 | 355 | 688 | 76.59 |
3.250 - 3.499 | 47,303,482.67 | 147 | 8.09 | 321,792.40 | 7.310 | 358 | 694 | 78.38 |
3.500 - 3.749 | 137,730,479.16 | 416 | 23.55 | 331,082.88 | 7.192 | 359 | 699 | 74.92 |
3.750 - 3.999 | 86,694,645.06 | 254 | 14.82 | 341,317.50 | 7.256 | 359 | 694 | 75.04 |
4.000 - 4.249 | 42,959,824.05 | 169 | 7.35 | 254,200.14 | 7.771 | 357 | 678 | 79.01 |
4.250 - 4.499 | 5,899,696.85 | 25 | 1.01 | 235,987.87 | 8.242 | 358 | 693 | 81.03 |
4.500 - 4.749 | 114,944,147.52 | 347 | 19.66 | 331,251.15 | 7.163 | 359 | 699 | 74.35 |
4.750 - 4.999 | 164,000.00 | 1 | 0.03 | 164,000.00 | 5.990 | 351 | 651 | 80.00 |
5.000 - 5.249 | 3,944,663.11 | 15 | 0.67 | 262,977.54 | 7.434 | 357 | 725 | 80.04 |
5.250 - 5.499 | 2,797,287.30 | 10 | 0.48 | 279,728.73 | 8.228 | 358 | 677 | 84.40 |
5.500 - 5.749 | 2,046,254.26 | 9 | 0.35 | 227,361.58 | 7.074 | 356 | 674 | 77.64 |
5.750 - 5.999 | 3,120,709.54 | 11 | 0.53 | 283,700.87 | 6.970 | 351 | 661 | 82.97 |
6.000 - 6.249 | 1,607,990.46 | 6 | 0.27 | 267,998.41 | 7.797 | 357 | 681 | 80.21 |
6.250 - 6.499 | 2,848,256.33 | 10 | 0.49 | 284,825.63 | 7.021 | 358 | 678 | 75.58 |
6.500 - 6.749 | 3,366,730.00 | 10 | 0.58 | 336,673.00 | 7.385 | 358 | 675 | 77.22 |
6.750 - 6.999 | 4,500,765.02 | 13 | 0.77 | 346,212.69 | 7.239 | 358 | 679 | 79.75 |
7.000 - 7.249 | 4,718,160.62 | 13 | 0.81 | 362,935.43 | 7.614 | 358 | 670 | 80.26 |
7.250 - 7.499 | 2,189,716.09 | 8 | 0.37 | 273,714.51 | 7.938 | 359 | 656 | 80.68 |
7.500 - 7.749 | 2,332,869.23 | 9 | 0.40 | 259,207.69 | 8.062 | 359 | 687 | 78.73 |
7.750 - 7.999 | 3,982,422.70 | 11 | 0.68 | 362,038.43 | 8.056 | 359 | 683 | 80.63 |
8.000 - 8.249 | 551,922.08 | 2 | 0.09 | 275,961.04 | 8.100 | 359 | 677 | 80.00 |
8.250 - 8.499 | 939,841.75 | 3 | 0.16 | 313,280.58 | 8.270 | 359 | 665 | 75.44 |
8.500 - 8.749 | 388,435.34 | 2 | 0.07 | 194,217.67 | 9.629 | 358 | 649 | 83.67 |
8.750 - 8.999 | 533,600.00 | 2 | 0.09 | 266,800.00 | 8.909 | 358 | 645 | 80.00 |
9.000 - 9.249 | 564,800.00 | 1 | 0.10 | 564,800.00 | 10.000 | 359 | 669 | 80.00 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 13 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
FIXED | 11,108,385.90 | 149 | 1.90 | 74,552.93 | 11.404 | 193 | 684 | 98.03 |
9.500 - 9.999 | 305,348.00 | 1 | 0.05 | 305,348.00 | 7.250 | 357 | 688 | 80.00 |
10.500 - 10.999 | 2,030,700.00 | 6 | 0.35 | 338,450.00 | 5.275 | 357 | 703 | 44.64 |
11.000 - 11.499 | 7,904,051.71 | 20 | 1.35 | 395,202.59 | 6.023 | 357 | 723 | 69.38 |
11.500 - 11.999 | 36,379,667.74 | 107 | 6.22 | 339,996.89 | 6.286 | 358 | 712 | 71.91 |
12.000 - 12.499 | 55,857,227.91 | 161 | 9.55 | 346,939.30 | 6.558 | 358 | 703 | 73.53 |
12.500 - 12.999 | 158,952,914.66 | 475 | 27.18 | 334,637.72 | 6.860 | 357 | 705 | 74.85 |
13.000 - 13.499 | 113,031,960.02 | 341 | 19.33 | 331,472.02 | 7.235 | 358 | 697 | 76.59 |
13.500 - 13.999 | 114,373,296.29 | 367 | 19.56 | 311,643.86 | 7.703 | 358 | 685 | 77.66 |
14.000 - 14.499 | 46,412,341.34 | 161 | 7.94 | 288,275.41 | 8.162 | 358 | 681 | 78.13 |
14.500 - 14.999 | 23,177,871.01 | 87 | 3.96 | 266,412.31 | 8.642 | 359 | 674 | 79.31 |
15.000 - 15.499 | 8,633,627.59 | 34 | 1.48 | 253,930.22 | 9.070 | 358 | 668 | 80.84 |
15.500 - 15.999 | 3,909,402.31 | 19 | 0.67 | 205,758.02 | 9.647 | 359 | 677 | 81.23 |
16.000 - 16.499 | 1,347,000.00 | 5 | 0.23 | 269,400.00 | 10.120 | 359 | 680 | 82.72 |
16.500 - 16.999 | 293,250.00 | 1 | 0.05 | 293,250.00 | 10.500 | 356 | 652 | 85.00 |
17.000 - 17.499 | 530,725.30 | 3 | 0.09 | 176,908.43 | 11.032 | 358 | 698 | 88.65 |
17.500 - 17.999 | 81,900.00 | 1 | 0.01 | 81,900.00 | 11.990 | 360 | 660 | 90.00 |
18.000 - 18.499 | 314,182.94 | 3 | 0.05 | 104,727.65 | 12.057 | 358 | 701 | 89.99 |
19.000 - 19.499 | 159,300.00 | 1 | 0.03 | 159,300.00 | 13.250 | 355 | 636 | 90.00 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 14 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
FIXED | 11,108,385.90 | 149 | 1.90 | 74,552.93 | 11.404 | 193 | 684 | 98.03 |
July 2006 | 159,300.00 | 1 | 0.03 | 159,300.00 | 13.250 | 355 | 636 | 90.00 |
August 2006 | 214,221.00 | 1 | 0.04 | 214,221.00 | 7.375 | 356 | 776 | 80.00 |
September 2006 | 267,000.00 | 1 | 0.05 | 267,000.00 | 7.375 | 357 | 692 | 78.53 |
October 2006 | 1,169,703.24 | 6 | 0.20 | 194,950.54 | 7.836 | 346 | 683 | 81.93 |
November 2006 | 6,584,305.33 | 15 | 1.13 | 438,953.69 | 7.208 | 347 | 668 | 75.02 |
December 2006 | 1,653,591.83 | 3 | 0.28 | 551,197.28 | 7.699 | 355 | 739 | 80.54 |
February 2007 | 2,331,400.00 | 6 | 0.40 | 388,566.67 | 6.856 | 355 | 658 | 77.47 |
March 2007 | 2,045,528.10 | 5 | 0.35 | 409,105.62 | 7.598 | 357 | 640 | 77.74 |
April 2007 | 1,632,999.36 | 5 | 0.28 | 326,599.87 | 7.504 | 358 | 679 | 75.81 |
May 2007 | 1,444,950.00 | 5 | 0.25 | 288,990.00 | 7.036 | 359 | 747 | 75.38 |
June 2007 | 1,522,961.72 | 4 | 0.26 | 380,740.43 | 6.893 | 351 | 661 | 83.74 |
July 2007 | 263,759.15 | 1 | 0.05 | 263,759.15 | 5.750 | 349 | 678 | 80.00 |
August 2007 | 198,282.03 | 1 | 0.03 | 198,282.03 | 5.690 | 350 | 603 | 71.94 |
September 2007 | 2,122,164.52 | 10 | 0.36 | 212,216.45 | 6.790 | 351 | 649 | 76.52 |
October 2007 | 1,216,200.00 | 4 | 0.21 | 304,050.00 | 6.154 | 352 | 679 | 74.80 |
November 2007 | 1,596,127.10 | 6 | 0.27 | 266,021.18 | 6.516 | 349 | 671 | 75.81 |
December 2007 | 974,845.51 | 3 | 0.17 | 324,948.50 | 7.395 | 354 | 660 | 73.54 |
January 2008 | 1,828,238.80 | 6 | 0.31 | 304,706.47 | 7.764 | 355 | 702 | 74.53 |
February 2008 | 1,775,041.76 | 7 | 0.30 | 253,577.39 | 7.888 | 356 | 666 | 79.16 |
March 2008 | 5,480,277.79 | 23 | 0.94 | 238,272.95 | 7.610 | 357 | 666 | 79.01 |
April 2008 | 26,987,781.95 | 89 | 4.61 | 303,233.51 | 7.845 | 358 | 689 | 77.91 |
May 2008 | 27,560,051.63 | 88 | 4.71 | 313,182.40 | 7.925 | 359 | 694 | 77.33 |
June 2008 | 6,808,517.00 | 29 | 1.16 | 234,776.45 | 7.927 | 360 | 697 | 75.79 |
August 2008 | 236,000.00 | 1 | 0.04 | 236,000.00 | 6.090 | 350 | 621 | 80.00 |
September 2008 | 322,363.28 | 2 | 0.06 | 161,181.64 | 6.260 | 351 | 640 | 80.00 |
January 2009 | 258,000.00 | 1 | 0.04 | 258,000.00 | 7.400 | 355 | 741 | 80.00 |
February 2009 | 677,458.22 | 3 | 0.12 | 225,819.41 | 7.357 | 356 | 667 | 78.78 |
March 2009 | 9,988,710.28 | 26 | 1.71 | 384,181.16 | 7.519 | 357 | 672 | 79.48 |
April 2009 | 31,174,845.96 | 90 | 5.33 | 346,387.18 | 6.871 | 358 | 704 | 75.30 |
May 2009 | 53,324,075.51 | 160 | 9.12 | 333,275.47 | 7.144 | 359 | 699 | 75.92 |
June 2009 | 28,252,808.00 | 85 | 4.83 | 332,385.98 | 6.957 | 360 | 704 | 72.55 |
July 2009 | 996,000.00 | 3 | 0.17 | 332,000.00 | 6.167 | 360 | 709 | 75.75 |
October 2010 | 590,275.00 | 2 | 0.10 | 295,137.50 | 5.848 | 352 | 707 | 69.96 |
December 2010 | 183,750.00 | 1 | 0.03 | 183,750.00 | 6.625 | 354 | 791 | 75.00 |
January 2011 | 702,400.00 | 2 | 0.12 | 351,200.00 | 4.877 | 355 | 716 | 19.90 |
February 2011 | 2,788,262.40 | 11 | 0.48 | 253,478.40 | 7.371 | 356 | 703 | 79.00 |
March 2011 | 32,945,412.92 | 126 | 5.63 | 261,471.53 | 7.562 | 357 | 686 | 78.41 |
April 2011 | 129,829,739.63 | 420 | 22.20 | 309,118.43 | 7.266 | 358 | 700 | 76.36 |
May 2011 | 57,035,372.52 | 178 | 9.75 | 320,423.44 | 7.188 | 356 | 697 | 75.67 |
June 2011 | 37,495,077.00 | 116 | 6.41 | 323,233.42 | 7.224 | 360 | 699 | 75.15 |
July 2011 | 6,639,300.00 | 25 | 1.14 | 265,572.00 | 7.431 | 360 | 685 | 77.95 |
February 2013 | 401,590.00 | 1 | 0.07 | 401,590.00 | 6.625 | 356 | 674 | 80.00 |
March 2013 | 2,058,320.00 | 4 | 0.35 | 514,580.00 | 6.535 | 357 | 694 | 70.57 |
April 2013 | 19,307,195.44 | 42 | 3.30 | 459,695.13 | 6.916 | 358 | 701 | 74.08 |
May 2013 | 39,226,656.98 | 106 | 6.71 | 370,062.80 | 7.119 | 359 | 696 | 73.99 |
June 2013 | 19,956,652.49 | 54 | 3.41 | 369,567.64 | 7.314 | 360 | 701 | 73.59 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 15 of 30
July 2013 | 897,820.00 | 3 | 0.15 | 299,273.33 | 7.270 | 360 | 660 | 80.91 |
March 2016 | 215,800.00 | 2 | 0.04 | 107,900.00 | 6.500 | 357 | 717 | 79.99 |
April 2016 | 2,229,033.37 | 9 | 0.38 | 247,670.37 | 6.914 | 358 | 742 | 77.51 |
May 2016 | 124,600.00 | 1 | 0.02 | 124,600.00 | 7.750 | 359 | 690 | 70.00 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
FIXED | 11,108,385.90 | 149 | 1.90 | 74,552.93 | 11.404 | 193 | 684 | 98.03 |
6 | 8,376,983.65 | 24 | 1.43 | 349,040.99 | 7.650 | 348 | 674 | 77.90 |
12 | 9,218,340.21 | 25 | 1.58 | 368,733.61 | 7.221 | 357 | 686 | 76.51 |
24 | 78,049,423.96 | 269 | 13.35 | 290,146.56 | 7.738 | 358 | 687 | 77.50 |
36 | 125,230,261.25 | 371 | 21.41 | 337,547.87 | 7.053 | 359 | 699 | 75.33 |
60 | 268,402,089.47 | 882 | 45.90 | 304,310.76 | 7.274 | 358 | 697 | 76.18 |
84 | 81,848,234.91 | 210 | 14.00 | 389,753.50 | 7.103 | 359 | 698 | 73.93 |
120 | 2,569,433.37 | 12 | 0.44 | 214,119.45 | 6.920 | 358 | 738 | 77.35 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 16 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
FIXED | 11,108,385.90 | 149 | 1.90 | 74,552.93 | 11.404 | 193 | 684 | 98.03 |
1.000 | 8,376,983.65 | 24 | 1.43 | 349,040.99 | 7.650 | 348 | 674 | 77.90 |
2.000 | 31,908,356.34 | 95 | 5.46 | 335,877.44 | 7.267 | 358 | 699 | 77.85 |
2.700 | 305,348.00 | 1 | 0.05 | 305,348.00 | 7.250 | 357 | 688 | 80.00 |
3.000 | 403,375,534.69 | 1,225 | 68.98 | 329,286.15 | 7.249 | 358 | 696 | 75.32 |
4.375 | 188,000.00 | 1 | 0.03 | 188,000.00 | 7.125 | 359 | 669 | 80.00 |
5.000 | 61,846,093.42 | 202 | 10.58 | 306,168.78 | 7.171 | 358 | 695 | 76.74 |
6.000 | 67,694,450.72 | 245 | 11.58 | 276,303.88 | 7.423 | 358 | 699 | 77.33 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
FIXED | 11,108,385.90 | 149 | 1.90 | 74,552.93 | 11.404 | 193 | 684 | 98.03 |
1.000 | 457,526,842.86 | 1,414 | 78.24 | 323,569.20 | 7.262 | 358 | 695 | 75.61 |
1.500 | 404,111.47 | 1 | 0.07 | 404,111.47 | 7.375 | 359 | 613 | 77.00 |
2.000 | 115,763,812.49 | 378 | 19.80 | 306,253.47 | 7.291 | 358 | 699 | 76.98 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 17 of 30
Group 1 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0.00 - 10.00 | 119,622,205.70 | 371 | 20.46 | 322,431.82 | 7.423 | 356 | 702 | 76.62 |
10.01 - 15.00 | 2,681,229.60 | 13 | 0.46 | 206,248.43 | 7.267 | 352 | 731 | 69.31 |
15.01 - 20.00 | 5,711,849.06 | 21 | 0.98 | 271,992.81 | 6.996 | 355 | 693 | 68.83 |
20.01 - 25.00 | 14,616,964.48 | 45 | 2.50 | 324,821.43 | 7.112 | 357 | 718 | 70.87 |
25.01 - 30.00 | 30,322,321.88 | 94 | 5.19 | 322,577.89 | 7.248 | 355 | 695 | 72.26 |
30.01 - 35.00 | 44,186,826.43 | 163 | 7.56 | 271,084.82 | 7.302 | 352 | 697 | 75.72 |
35.01 - 40.00 | 91,186,578.09 | 319 | 15.59 | 285,851.34 | 7.336 | 353 | 698 | 76.27 |
40.01 - 45.00 | 162,211,830.28 | 522 | 27.74 | 310,750.63 | 7.284 | 355 | 693 | 76.84 |
45.01 - 50.00 | 105,140,348.64 | 364 | 17.98 | 288,847.11 | 7.479 | 354 | 686 | 78.19 |
50.01 - 55.00 | 8,275,500.20 | 27 | 1.42 | 306,500.01 | 7.183 | 355 | 703 | 73.83 |
55.01 + | 847,498.36 | 3 | 0.14 | 282,499.45 | 7.170 | 358 | 641 | 70.42 |
TOTAL | 584,803,152.72 | 1,942 | 100.00 | 301,134.48 | 7.346 | 355 | 696 | 76.31 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 18 of 30
Group 2 Mortgage Loans
Summary of Loans in Sample Calculation Pool
(As of Sample Calculation Date)
Range | ||||||
Total Number of Loans | 247 | |||||
Total Outstanding Balance | $249,178,857.36 | |||||
Average Loan Balance | $1,008,821.28 | $110,000.00 | to | $6,075,000.00 | ||
WA Mortgage Rate | 6.731% | 5.750% | to | 9.100% | ||
WA Mortgage Rate Net LPMI | 6.731% | 5.750% | to | 9.100% | ||
Net WAC | 6.451% | 5.470% | to | 8.820% | ||
% of Fixed Rate Mortgage Loans | 0.00% | |||||
% of ARM Loans | 100.00% | |||||
ARM Characteristics | ||||||
WA Gross Margin | 2.664% | 2.350% | to | 3.500% | ||
WA Months to First Roll | 83 | 1 | to | 120 | ||
WA Initial Rate Cap | 2.982% | 1.000% | to | 5.000% | ||
WA Subsequent Rate Cap | 1.000% | 1.000% | to | 1.000% | ||
WA Lifetime Cap | 12.716% | 10.500% | to | 15.100% | ||
WA Lifetime Floor | 6.728% | 5.500% | to | 9.100% | ||
WA Original Term (months) | 360 | 360 | to | 360 | ||
WA Remaining Term (months) | 358 | 317 | to | 360 | ||
WA Age (months) | 2 | 0 | to | 43 | ||
WA LTV | 66.98% | 16.68% | to | 80.00% | ||
WA FICO | 727 | |||||
WA DTI% | 24.02% | |||||
Secured by (% of pool) | ||||||
1st Liens | 100.00% | |||||
Prepayment Penalty at Loan Orig (% of all loans) | 100.00% | |||||
Prepay Moves Exempted | ||||||
Soft | 0.00% | |||||
Hard | 100.00% | |||||
No Prepay | 0.00% | |||||
% Interest Only | 15.02% | |||||
WA Interest Only Term | 52.00 | |||||
% Silent Seconds | 1.18% | |||||
% Loans LTV Greater than 80.00 | 0.00% | |||||
% of Loans LTV Greater than 80.00 with MI | 0.00% |
Top 5 States (%) | Prop Types (%) | Top 5 Doc Types (%) | Purpose Codes (%) | Occ Codes (%) | Orig PP Term (%) | |||||||||||
CA | 45.81 | MF | 100 | Full | 89.59 | REFI/CO | 47.49 | NOO | 100 | None | 0.00 | |||||
AZ | 7.17 | Stated | 10.01 | PUR | 42.93 | 36 | 16.65 | |||||||||
FL | 5.06 | SISA | 0.40 | REFI/RT | 9.58 | 60 | 33.79 | |||||||||
TX | 4.86 | 84 | 4.70 | |||||||||||||
WA | 3.66 | 120 | 44.86 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 19 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
3/1 MTA IO | 1,500,000.00 | 1 | 0.60 | 1,500,000.00 | 6.725 | 360 | 736 | 66.67 |
LIBOR 10/6 ARM | 98,535,390.71 | 86 | 39.54 | 1,145,760.36 | 6.501 | 359 | 730 | 67.03 |
LIBOR 10/6 ARM IO | 7,016,500.00 | 2 | 2.82 | 3,508,250.00 | 6.429 | 358 | 633 | 77.72 |
LIBOR 3/6 ARM | 34,922,241.28 | 47 | 14.01 | 743,026.41 | 7.149 | 358 | 728 | 70.24 |
LIBOR 3/6 ARM IO | 5,298,350.00 | 6 | 2.13 | 883,058.33 | 6.711 | 360 | 659 | 69.92 |
LIBOR 5/6 ARM | 54,508,893.94 | 66 | 21.88 | 825,892.33 | 6.958 | 357 | 729 | 66.85 |
LIBOR 5/6 ARM IO | 23,612,250.00 | 19 | 9.48 | 1,242,750.00 | 6.744 | 359 | 749 | 70.71 |
LIBOR 7/6 ARM | 5,730,960.93 | 9 | 2.30 | 636,773.44 | 7.230 | 359 | 726 | 61.19 |
MTA 10/1 ARM | 7,115,000.00 | 5 | 2.86 | 1,423,000.00 | 6.440 | 360 | 666 | 55.17 |
MTA 5/1 ARM | 4,966,770.50 | 3 | 1.99 | 1,655,590.17 | 6.297 | 359 | 782 | 40.03 |
MTA 7/1 ARM | 5,972,500.00 | 3 | 2.40 | 1,990,833.33 | 6.560 | 360 | 741 | 60.40 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 20 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0.01 - 250,000.00 | 2,235,761.77 | 11 | 0.90 | 203,251.07 | 8.249 | 358 | 704 | 72.44 |
250,000.01 - 300,000.00 | 2,490,518.03 | 9 | 1.00 | 276,724.23 | 8.217 | 354 | 730 | 76.28 |
300,000.01 - 350,000.00 | 3,597,905.97 | 11 | 1.44 | 327,082.36 | 7.369 | 355 | 716 | 69.63 |
350,000.01 - 400,000.00 | 5,635,167.52 | 15 | 2.26 | 375,677.83 | 7.590 | 356 | 726 | 70.88 |
400,000.01 - 450,000.00 | 7,340,503.21 | 17 | 2.95 | 431,794.31 | 7.334 | 359 | 708 | 67.98 |
450,000.01 - 500,000.00 | 8,591,826.36 | 18 | 3.45 | 477,323.69 | 7.211 | 359 | 722 | 63.42 |
500,000.01 - 550,000.00 | 5,763,078.82 | 11 | 2.31 | 523,916.26 | 7.272 | 359 | 727 | 70.34 |
550,000.01 - 600,000.00 | 5,173,651.56 | 9 | 2.08 | 574,850.17 | 6.922 | 359 | 708 | 59.48 |
600,000.01 - 650,000.00 | 7,494,759.27 | 12 | 3.01 | 624,563.27 | 6.644 | 359 | 730 | 73.38 |
650,000.01 - 700,000.00 | 4,800,798.75 | 7 | 1.93 | 685,828.39 | 6.817 | 359 | 736 | 57.15 |
700,000.01 - 750,000.00 | 5,829,564.70 | 8 | 2.34 | 728,695.59 | 6.936 | 359 | 726 | 69.22 |
750,000.01 - 800,000.00 | 7,745,144.91 | 10 | 3.11 | 774,514.49 | 6.943 | 359 | 739 | 68.74 |
800,000.01 - 850,000.00 | 6,602,749.74 | 8 | 2.65 | 825,343.72 | 6.987 | 359 | 733 | 67.33 |
850,000.01 - 900,000.00 | 5,306,000.00 | 6 | 2.13 | 884,333.33 | 6.502 | 360 | 740 | 67.77 |
900,000.01 - 950,000.00 | 6,457,153.92 | 7 | 2.59 | 922,450.56 | 6.542 | 359 | 715 | 61.42 |
950,000.01 - 1,000,000.00 | 5,962,143.22 | 6 | 2.39 | 993,690.54 | 6.808 | 359 | 749 | 60.72 |
1,000,000.01 - 1,050,000.00 | 5,111,929.23 | 5 | 2.05 | 1,022,385.85 | 6.722 | 359 | 722 | 59.58 |
1,050,000.01 - 1,150,000.00 | 9,902,347.37 | 9 | 3.97 | 1,100,260.82 | 6.636 | 359 | 731 | 61.27 |
1,150,000.01 - 1,200,000.00 | 2,338,163.67 | 2 | 0.94 | 1,169,081.84 | 7.365 | 359 | 684 | 75.69 |
1,200,000.01 - 1,300,000.00 | 10,015,213.41 | 8 | 4.02 | 1,251,901.68 | 6.639 | 354 | 742 | 66.47 |
1,300,000.01 - 1,400,000.00 | 9,591,387.47 | 7 | 3.85 | 1,370,198.21 | 6.646 | 353 | 753 | 67.65 |
1,400,000.01 - 1,450,000.00 | 1,408,149.67 | 1 | 0.57 | 1,408,149.67 | 6.200 | 358 | 695 | 68.09 |
1,450,000.01 - 1,750,000.00 | 28,833,888.74 | 18 | 11.57 | 1,601,882.71 | 6.558 | 359 | 735 | 66.81 |
1,750,000.01 - 1,800,000.00 | 5,349,118.16 | 3 | 2.15 | 1,783,039.39 | 6.626 | 359 | 780 | 58.46 |
1,800,000.01 + | 85,601,931.89 | 29 | 34.35 | 2,951,790.75 | 6.478 | 359 | 717 | 68.57 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 21 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0.01 - 250,000.00 | 2,235,761.77 | 11 | 0.90 | 203,251.07 | 8.249 | 358 | 704 | 72.44 |
250,000.01 - 300,000.00 | 2,490,518.03 | 9 | 1.00 | 276,724.23 | 8.217 | 354 | 730 | 76.28 |
300,000.01 - 350,000.00 | 3,597,905.97 | 11 | 1.44 | 327,082.36 | 7.369 | 355 | 716 | 69.63 |
350,000.01 - 400,000.00 | 5,635,167.52 | 15 | 2.26 | 375,677.83 | 7.590 | 356 | 726 | 70.88 |
400,000.01 - 450,000.00 | 7,340,503.21 | 17 | 2.95 | 431,794.31 | 7.334 | 359 | 708 | 67.98 |
450,000.01 - 500,000.00 | 8,591,826.36 | 18 | 3.45 | 477,323.69 | 7.211 | 359 | 722 | 63.42 |
500,000.01 - 550,000.00 | 5,763,078.82 | 11 | 2.31 | 523,916.26 | 7.272 | 359 | 727 | 70.34 |
550,000.01 - 600,000.00 | 5,173,651.56 | 9 | 2.08 | 574,850.17 | 6.922 | 359 | 708 | 59.48 |
600,000.01 - 650,000.00 | 7,494,759.27 | 12 | 3.01 | 624,563.27 | 6.644 | 359 | 730 | 73.38 |
650,000.01 - 700,000.00 | 4,800,798.75 | 7 | 1.93 | 685,828.39 | 6.817 | 359 | 736 | 57.15 |
700,000.01 - 750,000.00 | 5,829,564.70 | 8 | 2.34 | 728,695.59 | 6.936 | 359 | 726 | 69.22 |
750,000.01 - 800,000.00 | 7,745,144.91 | 10 | 3.11 | 774,514.49 | 6.943 | 359 | 739 | 68.74 |
800,000.01 - 850,000.00 | 6,602,749.74 | 8 | 2.65 | 825,343.72 | 6.987 | 359 | 733 | 67.33 |
850,000.01 - 900,000.00 | 5,306,000.00 | 6 | 2.13 | 884,333.33 | 6.502 | 360 | 740 | 67.77 |
900,000.01 - 950,000.00 | 6,457,153.92 | 7 | 2.59 | 922,450.56 | 6.542 | 359 | 715 | 61.42 |
950,000.01 - 1,000,000.00 | 5,962,143.22 | 6 | 2.39 | 993,690.54 | 6.808 | 359 | 749 | 60.72 |
1,000,000.01 - 1,050,000.00 | 5,111,929.23 | 5 | 2.05 | 1,022,385.85 | 6.722 | 359 | 722 | 59.58 |
1,050,000.01 - 1,150,000.00 | 9,902,347.37 | 9 | 3.97 | 1,100,260.82 | 6.636 | 359 | 731 | 61.27 |
1,150,000.01 - 1,200,000.00 | 2,338,163.67 | 2 | 0.94 | 1,169,081.84 | 7.365 | 359 | 684 | 75.69 |
1,200,000.01 - 1,300,000.00 | 10,015,213.41 | 8 | 4.02 | 1,251,901.68 | 6.639 | 354 | 742 | 66.47 |
1,300,000.01 - 1,400,000.00 | 8,243,745.00 | 6 | 3.31 | 1,373,957.50 | 6.792 | 359 | 753 | 67.40 |
1,400,000.01 - 1,450,000.00 | 2,755,792.14 | 2 | 1.11 | 1,377,896.07 | 5.980 | 338 | 723 | 68.63 |
1,450,000.01 - 1,750,000.00 | 28,833,888.74 | 18 | 11.57 | 1,601,882.71 | 6.558 | 359 | 735 | 66.81 |
1,750,000.01 - 1,800,000.00 | 5,349,118.16 | 3 | 2.15 | 1,783,039.39 | 6.626 | 359 | 780 | 58.46 |
1,800,000.01 + | 85,601,931.89 | 29 | 34.35 | 2,951,790.75 | 6.478 | 359 | 717 | 68.57 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 22 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
California | 114,157,448.02 | 97 | 45.81 | 1,176,880.91 | 6.578 | 358 | 734 | 60.52 |
Arizona | 17,861,319.79 | 14 | 7.17 | 1,275,808.56 | 6.762 | 358 | 737 | 70.48 |
Florida | 12,597,323.32 | 11 | 5.06 | 1,145,211.21 | 7 | 360 | 720 | 70.81 |
Texas | 12,116,934.88 | 16 | 4.86 | 757,308.43 | 7.002 | 359 | 732 | 73.8 |
Washington | 9,132,350.00 | 4 | 3.66 | 2,283,087.50 | 6.637 | 359 | 648 | 75.81 |
Oregon | 8,398,766.26 | 8 | 3.37 | 1,049,845.78 | 6.429 | 351 | 759 | 67.17 |
Indiana | 6,496,536.74 | 5 | 2.61 | 1,299,307.35 | 6.437 | 358 | 688 | 75.2 |
Ohio | 5,587,978.52 | 10 | 2.24 | 558,797.85 | 7.044 | 359 | 769 | 76.94 |
Minnesota | 5,392,392.54 | 5 | 2.16 | 1,078,478.51 | 6.504 | 359 | 764 | 77.1 |
Michigan | 5,308,650.00 | 7 | 2.13 | 758,378.57 | 6.848 | 360 | 722 | 70.95 |
Colorado | 5,191,101.09 | 5 | 2.08 | 1,038,220.22 | 6.945 | 359 | 729 | 62.05 |
Illinois | 4,361,170.00 | 5 | 1.75 | 872,234.00 | 7.022 | 358 | 679 | 76.53 |
Missouri | 4,116,184.06 | 1 | 1.65 | 4,116,184.06 | 6.375 | 358 | 693 | 80 |
Georgia | 3,671,450.00 | 5 | 1.47 | 734,290.00 | 6.922 | 359 | 694 | 78.66 |
Nevada | 3,508,268.09 | 3 | 1.41 | 1,169,422.70 | 6.974 | 358 | 717 | 71.28 |
Alabama | 3,149,121.51 | 2 | 1.26 | 1,574,560.76 | 6.871 | 358 | 720 | 72.6 |
Wisconsin | 2,848,000.00 | 2 | 1.14 | 1,424,000.00 | 6.297 | 360 | 720 | 67.17 |
Utah | 2,607,208.30 | 3 | 1.05 | 869,069.43 | 6.652 | 358 | 756 | 62.04 |
North Carolina | 2,536,250.00 | 3 | 1.02 | 845,416.67 | 7.216 | 359 | 704 | 75.75 |
New Hampshire | 2,516,906.38 | 6 | 1.01 | 419,484.40 | 6.801 | 359 | 731 | 75.69 |
Other | 17,623,497.86 | 35 | 7.07 | 503,528.51 | 7.382 | 359 | 714 | 72.61 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
* All States with loan concentrations less than 1% of the total Group 2 balance were placed in the other category.
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 23 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
15.01 - 20.00 | 666,367.13 | 1 | 0.27 | 666,367.13 | 6.250 | 358 | 725 | 16.68 |
25.01 - 30.00 | 915,000.00 | 1 | 0.37 | 915,000.00 | 6.625 | 360 | 751 | 28.96 |
30.01 - 35.00 | 1,698,417.82 | 1 | 0.68 | 1,698,417.82 | 6.350 | 358 | 789 | 33.66 |
35.01 - 40.00 | 4,251,852.68 | 5 | 1.71 | 850,370.54 | 6.791 | 359 | 760 | 36.51 |
40.01 - 45.00 | 1,330,000.00 | 2 | 0.53 | 665,000.00 | 6.650 | 360 | 754 | 43.60 |
45.01 - 50.00 | 6,653,893.16 | 8 | 2.67 | 831,736.65 | 6.708 | 359 | 731 | 47.53 |
50.01 - 55.00 | 12,368,667.72 | 15 | 4.96 | 824,577.85 | 6.629 | 359 | 753 | 52.56 |
55.01 - 60.00 | 18,995,687.53 | 21 | 7.62 | 904,556.55 | 6.655 | 359 | 724 | 57.41 |
60.01 - 65.00 | 45,069,696.96 | 32 | 18.09 | 1,408,428.03 | 6.617 | 359 | 728 | 62.55 |
65.01 - 70.00 | 47,650,563.10 | 46 | 19.12 | 1,035,881.81 | 6.674 | 357 | 740 | 67.34 |
70.01 - 75.00 | 61,952,391.60 | 59 | 24.86 | 1,050,040.54 | 6.789 | 358 | 719 | 73.61 |
75.01 - 80.00 | 47,626,319.66 | 56 | 19.11 | 850,469.99 | 6.899 | 359 | 709 | 78.44 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
5.500 - 5.999 | 6,646,513.25 | 5 | 2.67 | 1,329,302.65 | 5.909 | 347 | 734 | 65.02 |
6.000 - 6.499 | 83,423,091.02 | 53 | 33.48 | 1,574,020.59 | 6.309 | 358 | 718 | 65.68 |
6.500 - 6.999 | 111,274,204.87 | 99 | 44.66 | 1,123,981.87 | 6.724 | 359 | 735 | 66.73 |
7.000 - 7.499 | 22,712,366.25 | 29 | 9.11 | 783,185.04 | 7.132 | 360 | 718 | 70.97 |
7.500 - 7.999 | 12,468,167.59 | 25 | 5.00 | 498,726.70 | 7.700 | 358 | 727 | 66.12 |
8.000 - 8.499 | 9,170,390.36 | 24 | 3.68 | 382,099.60 | 8.197 | 359 | 718 | 71.96 |
8.500 - 8.999 | 3,191,280.76 | 11 | 1.28 | 290,116.43 | 8.640 | 359 | 700 | 73.20 |
9.000 - 9.499 | 292,843.26 | 1 | 0.12 | 292,843.26 | 9.100 | 358 | 724 | 77.11 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 24 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
MULTIFAM | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
Cash Out Refinance | 118,344,467.07 | 105 | 47.49 | 1,127,090.16 | 6.647 | 359 | 724 | 64.16 |
Purchase | 106,973,776.87 | 122 | 42.93 | 876,834.24 | 6.878 | 358 | 727 | 70.55 |
Rate/Term Refinance | 23,860,613.42 | 20 | 9.58 | 1,193,030.67 | 6.488 | 358 | 733 | 64.97 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 25 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
Investor | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
241 - 360 | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
Full | 223,233,201.17 | 185 | 89.59 | 1,206,665.95 | 6.588 | 358 | 727 | 66.74 |
SISA | 1,005,000.00 | 1 | 0.40 | 1,005,000.00 | 7.625 | 359 | 696 | 55.83 |
Stated | 24,940,656.19 | 61 | 10.01 | 408,863.22 | 7.975 | 359 | 724 | 69.54 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 26 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0 - 500 | 572,500.00 | 1 | 0.23 | 572,500.00 | 6.650 | 360 | 0 | 36.46 |
541 - 560 | 2,500,000.00 | 1 | 1.00 | 2,500,000.00 | 6.375 | 360 | 554 | 60.53 |
581 - 600 | 8,490,850.00 | 5 | 3.41 | 1,698,170.00 | 6.463 | 359 | 597 | 76.19 |
621 - 640 | 2,496,000.00 | 4 | 1.00 | 624,000.00 | 6.988 | 360 | 635 | 78.91 |
641 - 660 | 7,271,466.25 | 9 | 2.92 | 807,940.69 | 6.881 | 359 | 653 | 66.36 |
661 - 680 | 21,971,586.52 | 24 | 8.82 | 915,482.77 | 6.733 | 359 | 672 | 67.95 |
681 - 700 | 34,085,151.39 | 31 | 13.68 | 1,099,521.01 | 6.649 | 359 | 693 | 68.78 |
701 - 720 | 24,356,227.97 | 28 | 9.77 | 869,865.28 | 7.023 | 359 | 710 | 65.57 |
721 - 740 | 45,513,858.75 | 49 | 18.27 | 928,854.26 | 6.776 | 358 | 733 | 66.88 |
741 - 760 | 31,463,770.67 | 35 | 12.63 | 898,964.88 | 6.814 | 357 | 749 | 69.84 |
761 - 780 | 28,395,231.68 | 28 | 11.40 | 1,014,115.42 | 6.758 | 358 | 769 | 66.96 |
781 - 800 | 30,674,826.13 | 24 | 12.31 | 1,278,117.76 | 6.545 | 357 | 789 | 60.93 |
801 + | 11,387,388.00 | 8 | 4.57 | 1,423,423.50 | 6.501 | 360 | 806 | 65.41 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
10 Years | 111,777,890.71 | 92 | 44.86 | 1,214,977.07 | 6.496 | 359 | 720 | 66.95 |
3 Years | 41,500,239.98 | 53 | 16.65 | 783,023.40 | 7.073 | 359 | 720 | 70.07 |
5 Years | 84,197,265.74 | 90 | 33.79 | 935,525.17 | 6.853 | 357 | 738 | 66.35 |
7 Years | 11,703,460.93 | 12 | 4.70 | 975,288.41 | 6.888 | 360 | 733 | 60.79 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 27 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0 - 12 | 280,000.00 | 1 | 0.11 | 280,000.00 | 7.875 | 319 | 769 | 74.67 |
13 - 18 | 3,250,180.59 | 4 | 1.30 | 812,545.15 | 5.949 | 318 | 765 | 69.76 |
32 - 49 | 41,440,591.28 | 53 | 16.63 | 781,897.95 | 7.073 | 359 | 719 | 70.04 |
56 - 79 | 79,837,733.85 | 84 | 32.04 | 950,449.21 | 6.894 | 359 | 737 | 66.21 |
80 + | 124,370,351.64 | 105 | 49.91 | 1,184,479.54 | 6.530 | 359 | 721 | 66.37 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
2.250 - 2.499 | 28,398,270.50 | 18 | 11.40 | 1,577,681.69 | 6.543 | 359 | 722 | 55.79 |
2.500 - 2.749 | 88,942,462.73 | 84 | 35.69 | 1,058,838.84 | 6.797 | 359 | 726 | 69.60 |
2.750 - 2.999 | 101,919,929.82 | 77 | 40.90 | 1,323,635.45 | 6.418 | 358 | 728 | 67.49 |
3.000 - 3.249 | 24,735,293.23 | 52 | 9.93 | 475,678.72 | 7.732 | 357 | 734 | 68.60 |
3.250 - 3.499 | 4,113,044.32 | 12 | 1.65 | 342,753.69 | 7.881 | 349 | 706 | 68.68 |
3.500 - 3.749 | 1,069,856.76 | 4 | 0.43 | 267,464.19 | 8.472 | 358 | 653 | 53.34 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) | ||||
10.500 - 10.999 | 1,627,642.47 | 2 | 0.65 | 813,821.24 | 6.116 | 318 | 755 | 70.13 | ||||
11.000 - 11.499 | 1,902,538.12 | 3 | 0.76 | 634,179.37 | 6.090 | 318 | 775 | 70.16 | ||||
11.500 - 11.999 | 5,298,870.78 | 4 | 2.13 | 1,324,717.70 | 5.950 | 354 | 729 | 63.96 | ||||
12.000 - 12.499 | 81,520,552.90 | 50 | 32.72 | 1,630,411.06 | 6.314 | 359 | 717 | 65.58 | ||||
12.500 - 12.999 | 111,274,204.87 | 99 | 44.66 | 1,123,981.87 | 6.724 | 359 | 735 | 66.73 | ||||
13.000 - 13.499 | 22,712,366.25 | 29 | 9.11 | 783,185.04 | 7.132 | 360 | 718 | 70.97 | ||||
13.500 - 13.999 | 11,688,167.59 | 23 | 4.69 | 508,181.20 | 7.700 | 359 | 727 | 65.45 | ||||
14.000 - 14.499 | 9,670,390.36 | 25 | 3.88 | 386,815.61 | 8.167 | 359 | 717 | 72.22 | ||||
14.500 - 14.999 | 3,191,280.76 | 11 | 1.28 | 290,116.43 | 8.640 | 359 | 700 | 73.20 | ||||
15.000 - 15.499 | 292,843.26 | 1 | 0.12 | 292,843.26 | 9.100 | 358 | 724 | 77.11 | ||||
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 28 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
July 2006 | 280,000.00 | 1 | 0.11 | 280,000.00 | 7.875 | 319 | 769 | 74.67 |
November 2007 | 302,029.08 | 1 | 0.12 | 302,029.08 | 6.250 | 317 | 792 | 75.00 |
December 2007 | 2,948,151.51 | 3 | 1.18 | 982,717.17 | 5.918 | 318 | 763 | 69.22 |
April 2009 | 19,334,140.84 | 23 | 7.76 | 840,614.82 | 7.009 | 358 | 722 | 72.54 |
May 2009 | 5,618,123.44 | 12 | 2.25 | 468,176.95 | 7.522 | 359 | 736 | 67.29 |
June 2009 | 16,488,327.00 | 18 | 6.62 | 916,018.17 | 6.995 | 360 | 711 | 68.04 |
April 2011 | 25,816,348.85 | 29 | 10.36 | 890,218.93 | 6.839 | 358 | 743 | 65.98 |
May 2011 | 29,709,285.00 | 27 | 11.92 | 1,100,343.89 | 6.903 | 359 | 736 | 65.40 |
June 2011 | 22,422,100.00 | 26 | 9.00 | 862,388.46 | 6.966 | 360 | 732 | 68.43 |
July 2011 | 1,890,000.00 | 2 | 0.76 | 945,000.00 | 6.672 | 360 | 716 | 55.59 |
April 2013 | 754,616.93 | 2 | 0.30 | 377,308.47 | 8.035 | 358 | 722 | 69.49 |
May 2013 | 3,134,000.00 | 4 | 1.26 | 783,500.00 | 6.992 | 359 | 700 | 64.71 |
June 2013 | 7,814,844.00 | 6 | 3.14 | 1,302,474.00 | 6.736 | 360 | 749 | 58.37 |
December 2015 | 5,298,870.78 | 4 | 2.13 | 1,324,717.70 | 5.950 | 354 | 729 | 63.96 |
April 2016 | 46,193,519.93 | 36 | 18.54 | 1,283,153.33 | 6.405 | 358 | 704 | 69.23 |
May 2016 | 23,419,350.00 | 22 | 9.40 | 1,064,515.91 | 6.613 | 359 | 734 | 69.03 |
June 2016 | 36,950,400.00 | 29 | 14.83 | 1,274,151.72 | 6.577 | 360 | 730 | 63.02 |
July 2016 | 804,750.00 | 2 | 0.32 | 402,375.00 | 7.749 | 360 | 721 | 75.00 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 29 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
36 | 41,720,591.28 | 54 | 16.74 | 772,603.54 | 7.078 | 359 | 720 | 70.07 |
60 | 83,087,914.44 | 88 | 33.34 | 944,180.85 | 6.857 | 357 | 738 | 66.35 |
84 | 11,703,460.93 | 12 | 4.70 | 975,288.41 | 6.888 | 360 | 733 | 60.79 |
120 | 112,666,890.71 | 93 | 45.22 | 1,211,471.94 | 6.493 | 359 | 720 | 66.94 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
1.000 | 5,815,594.29 | 4 | 2.33 | 1,453,898.57 | 6.464 | 358 | 695 | 68.85 |
3.000 | 239,833,082.48 | 238 | 96.25 | 1,007,702.03 | 6.747 | 359 | 727 | 66.89 |
5.000 | 3,530,180.59 | 5 | 1.42 | 706,036.12 | 6.102 | 318 | 766 | 70.15 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
1.000 | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2006-2
Computational Materials: Preliminary Structural Term Sheet
Page 30 of 30
Group 2 Mortgage Loans
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term | FICO | Orig. LTV (%) |
0.00 - 5.00 | 241,289,671.76 | 239 | 96.83 | 1,009,580.22 | 6.738 | 359 | 725 | 66.91 |
20.01 - 25.00 | 1,540,000.00 | 2 | 0.62 | 770,000.00 | 7.302 | 353 | 741 | 67.32 |
25.01 - 30.00 | 1,216,559.67 | 1 | 0.49 | 1,216,559.67 | 6.000 | 318 | 784 | 67.73 |
30.01 - 35.00 | 1,532,954.38 | 2 | 0.62 | 766,477.19 | 6.606 | 348 | 757 | 71.76 |
35.01 - 40.00 | 1,950,000.00 | 1 | 0.78 | 1,950,000.00 | 6.675 | 359 | 765 | 67.94 |
40.01 - 45.00 | 1,347,642.47 | 1 | 0.54 | 1,347,642.47 | 5.750 | 318 | 752 | 69.19 |
45.01 - 50.00 | 302,029.08 | 1 | 0.12 | 302,029.08 | 6.250 | 317 | 792 | 75.00 |
TOTAL | 249,178,857.36 | 247 | 100.00 | 1,008,821.28 | 6.731 | 358 | 727 | 66.98 |
![](https://capedge.com/proxy/FWP/0001144204-06-026593/bearstearns_logo.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.