Filed pursuant to Rule 433(d)
Registration Statement No. 333-131727
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
The following is a free writing prospectus. The information in this free writing prospectus is preliminary and is subject to completion or change.
FREE WRITING PROSPECTUS |
ACE Securities Corp. |
$156,923,000 (Approximate) |
Home Equity Loan Trust Series 2006-SD3 |
ACE Securities Corp. (Depositor) ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 (Issuing Entity) |
November 10, 2006
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
1
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
The analysis in this report is based on information provided by ACE Securities Corp. (the “Depositor”). Investors are urged to read the base prospectus and the prospectus supplement and other relevant documents filed or to be filed with the Securities and Exchange Commission because they contain important information. Such documents may be obtained without charge at the Securities and Exchange Commission's website. Once available, the base prospectus and prospectus supplement may be obtained without charge by contacting Deutsche Bank Securities, Inc.’s (“DBSI”) trading desk at (212) 250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement (collectively, the “Prospectus”). The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted. You should consult your own counsel, accountant, and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities.
The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared by DBSI in reliance upon information furnished by the Depositor. Numerous assumptions were used in preparing the Computational Materials that may or may not be reflected herein. As such, no assurance can be given as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfalls. The specific characteristics of the securities may differ from those shown in the Computational Materials by a permitted variance of +/- 10% prior to issuance. Neither DBSI nor any of its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or the payments or yield on the securities.
An investor or potential investor in the certificates (and each employee, representative, or other agent of such person or entity) may disclose to any and all persons, without limitation, the tax treatment and tax structure of the transaction (as defined in United States Treasury Regulation Section 1.6011-4) and all related materials of any kind, including opinions or other tax analyses, that are provided to such person or entity. However, such person or entity may not disclose any other information relating to this transaction unless such information is related to such tax treatment and tax structure.
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY DBSI AND NOT BY THE ISSUING ENTITY OF THE SECURITIES OR ANY OF ITS AFFILIATES. DBSI IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUING ENTITY IN CONNECTION WITH THE PROPOSED TRANSACTION.
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
2
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
FREE WRITING PROSPECTUS DATED November 10, 2006
ACE Securities Corp.
Home Equity Loan Trust, Series 2006-SD3
$156,923,000 (Approximate)
All dollar amounts and percentages contained herein are subject to a permitted variance of +/- 10%
Structure Overview | ||||||||
To 10% Optional Termination | ||||||||
Class | Approximate Size ($) | Type | WAL (yrs) | Principal Payment Window(mos.) | Pmt Delay (days) | Interest Accrual Basis | Legal Final Maturity | Expected Ratings S / F |
A | $122,152,000 | Float | 1.83 | 1 - 81 | 0 | ACT/360 | November 2045 | AAA / AAA |
M-1 | $16,182,000 | Float | 5.04 | 45 - 81 | 0 | ACT/360 | November 2045 | AA / AA |
M-2 | $9,958,000 | Float | 4.71 | 41 - 81 | 0 | ACT/360 | November 2045 | A / A |
M-3 | $4,149,000 | Float | 4.63 | 40 - 81 | 0 | ACT/360 | November 2045 | BBB+ / BBB+ |
M-4 | $2,324,000 | Float | 4.60 | 39 - 81 | 0 | ACT/360 | November 2045 | BBB / BBB |
M-5 | $2,158,000 | Float | 4.59 | 39 - 81 | 0 | ACT/360 | November 2045 | BBB / BBB- |
Total | $156,923,000 |
Pricing Speed
Fixed Rate Mortgage Loans | 100% PPC (25% CPR for all periods) |
Adjustable-Rate Mortgage Loans | 100% PPC (30% CPR for all periods) |
Transaction Overview |
Offered Certificates: | The Class A Certificates (the “Senior Certificates”) and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates (collectively, the “Mezzanine Certificates” or “Class M Certificates”). The Senior Certificates and the Mezzanine Certificates are referred to herein collectively as the “Offered Certificates”. The pass-through rate on the Class A Certificates will be a per annum rate equal to the lesser of (i) One-Month LIBOR plus a margin and (ii) the Net WAC Pass-Through Rate. The pass-through rate on each class of Mezzanine Certificates will be a per annum rate equal to the lesser of (i) One-Month LIBOR plus a margin and (ii) the Net WAC Pass-Through Rate. | ||
Class A Certificates: | Class A Certificates | ||
Class M Certificates or Mezzanine Certificates: | Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
3
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview |
Collateral: | The Mortgage Loans will consist of approximately 841 adjustable-rate and fixed-rate, first and second lien, closed-end, mortgage loans. The aggregate outstanding principal balance of all of the Mortgage Loans is approximately $165,967,323. A majority of the Mortgage Loans are loans that either have document deficiencies or fall outside of the originators’ underwriting guidelines based on a variety of factors. The mortgage pool also contains Mortgage Loans which have defaulted in the past and are now re-performing either pursuant to the terms of the original note or under the provisions of a bankruptcy plan. For each Mortgage Loan which is re-performing, the borrower’s “Legal Balance” is equal to the outstanding principal balance of such Mortgage Loan as of the Cut-off Date plus any Arrearage. The “Arrearage” with respect to each re-performing Mortgage Loan is equal to the interest portion of the payments due on such Mortgage Loan but not received as of the Cut-off Date. Approximately 0.01% of the Mortgage Loans are Daily Simple Interest Loans (as defined below). NOTE: The information related to approximately 99.292% the Mortgage Loans (by Principal Balance) described herein reflects information as of September 30, 2006 and as of October 5, 2006 for the remainder of the Mortgage Loans. It is expected that on or prior to the Closing Date, scheduled and unscheduled principal payments will reduce the principal balance of the Mortgage Loans and may cause a decrease in the aggregate principal balance of the Mortgage Loans, as reflected herein, of up to 10%. Consequently, the initial certificate principal balance of any of the Offered Certificates by the Closing Date is subject to a decrease of up to 10% from amounts shown on the front cover hereof. | |
Daily Simple Interest Loans: | The Daily Simple Interest Loans provide for substantially equal monthly payments that are allocated to principal and interest according to the daily simple interest method. Each monthly payment consists of an installment of interest which is calculated according to the simple interest method on the basis of the outstanding principal balance of the mortgage loan multiplied by the stated note rate and further multiplied by a fraction, the numerator of which is the number of days in the period elapsed since the last day interest was paid and the denominator of which is 365 days, as opposed to the customary method, on which 30 days of interest is owed each month irrespective of the day on which the payment is received. As payments are received, the amount received is applied first to interest accrued to the date of payment and the balance is applied to reduce the unpaid principal balance. Accordingly, if a mortgagor pays a fixed monthly installment before its scheduled due date, the portion of the payment allocable to interest for the period since the preceding payment was made will be less than it would have been had the payment been made on the scheduled due date, and the portion of the payment applied to reduce the unpaid principal balance will be correspondingly greater. However, if the next succeeding payment is made on the scheduled due date, a greater amount will be allocated to interest than would be the case if the previous payment had also been received on the scheduled due date. Conversely, if a mortgagor pays a fixed monthly installment after its scheduled due date, the portion of the payment allocable to interest for the period since the preceding payment was made will be greater than it would have been had the payment been made on the scheduled due date, and the remaining portion, if any, of the payment applied to reduce the unpaid principal balance will be correspondingly less. If each scheduled payment is made on or prior to its scheduled due date, the principal balance of the mortgage loan will amortize in the manner described above. However, if the mortgagor consistently makes scheduled payments after the scheduled due date the mortgage loan will amortize more slowly than scheduled. Any remaining unpaid principal is payable on the final maturity date of the mortgage loan. | |
Depositor: | ACE Securities Corp. (“ACE”) | |
Issuing Entity: | ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3. The Issuing Entity is also referred to herein as the trust. | |
Trustee: | HSBC Bank USA, National Association | |
Custodian: | Wells Fargo Bank, National Association and Deutsche Bank National Trust Company | |
Master Servicer and Securities Administrator: | Wells Fargo Bank, National Association |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
4
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview |
Originators: | Originator | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance |
Madison Equity | $21,913,458.85 | 13.20% | |
IndyMac | 18,058,668.75 | 10.88% | |
Luxury Mortgage Corp. | 18,003,254.03 | 10.85% | |
WAMU | 17,120,744.97 | 10.32% | |
Ownit | 13,408,241.20 | 8.08% | |
Greenpoint | 11,672,593.75 | 7.03% | |
Alliance Banc Corp. | 10,789,677.75 | 6.50% | |
Other (less than 5%) | 55,000,683.79 | 33.14% | |
Total: | $165,967,323.09 | 100.00% |
Servicers: | Primary servicing will be provided by Ocwen Loan Servicing, LLC (“Ocwen”) (approximately 73.18%), IndyMac Bank, F.S.B. (“IndyMac”) (approximately 10.80%), Washington Mutual Bank, FA (“WAMU”) (approximately 10.32%) and Select Portfolio Servicing, Inc. (“SPS”) (approximately 5.70%). | |
Credit Risk Manager: | Risk Management Group, LLC (“RMG”) | |
Underwriter: | Deutsche Bank Securities Inc. | |
Cut-off Date: | As of the close of business September 30, 2006 with respect to approximately 99.292% of the mortgage loans (by principal balance) and October 5, 2006 with respect to the remainder | |
Expected Pricing: | Week of November 13, 2006 | |
Expected Closing Date: | On or about November 30, 2006 | |
Record Date: | For so long as the Offered Certificates are held in book-entry form, the Record Date for the Offered Certificates will be the business day immediately preceding the related Distribution Date. With respect to any Offered Certificates held in definitive form, the Record Date will be the last business day of the month immediately preceding the month in which the related Distribution Date occurs. | |
Distribution Date: | 25th day of each month (or the next business day if such day is not a business day) commencing in December 2006. | |
Servicer Remittance Date: | With respect to any Distribution Date and (i) Ocwen, the 22nd day of the month in which such Distribution Date occurs; provided that if such 22nd day of a given month is not a business day, the Servicer Remittance Date for such month shall be the business day immediately preceding such 22nd day, (ii) SPS, the 18th day of the month in which such Distribution Date occurs; provided that if such 18th day of a given month is not a business day, the Servicer Remittance Date for such month shall be the business day immediately preceding such 18th day, (iii) WAMU, the 18th day of the month in which such Distribution Date occurs; provided that if such 18th day of a given month is not a business day, the Servicer Remittance Date for such month shall be the next business day following such 18th day and (iv) IndyMac, the 18th day of the month in which such Distribution Date occurs; provided that if such 18th day of a given month is not a business day, the Servicer Remittance Date for such month shall be the next business day following such 18th day. | |
Due Period: | With respect to each Servicer other than WAMU, the Due Period with respect to the first Distribution Date commences on the first day of the month immediately preceding the month in which such Distribution Date occurs and ends on the first day of the month in which such Distribution Date occurs. With respect to each Servicer other than WAMU, the Due Period with respect to any Distribution Date thereafter commences on the second day of the month immediately preceding the month in which the Distribution Date occurs and ends on the first day of the month in which the Distribution Date occurs. With respect to WAMU, the Due Period with respect to the first Distribution Date commences on the first day of the month immediately preceding the month in which such Distribution Date occurs and ends on the last day of such month. With respect to WAMU, the Due Period with respect to any Distribution Date thereafter is the calendar month immediately preceding the month in which such Distribution Date occurs. |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
5
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview |
Prepayment Period: | The Prepayment Period with respect to any Distribution Date for the Mortgage Loans serviced by (i) Ocwen and SPS, the calendar month preceding the month in which the related Distribution Date occurs with respect to prepayments in part, and the period beginning on the 16th day of the month preceding the related Distribution Date (or, the period commencing on the Cut-off Date, in connection with the first Prepayment Period) and ending on the 15th day of the month in which such Distribution Date occurs with respect to prepayments in full, (ii) WAMU, the calendar month preceding the month in which the related Distribution Date occurs. | |
Interest Accrual Period: | Interest on the Offered Certificates will initially accrue on all Offered Certificates from the Closing Date to (but excluding) the first Distribution Date, and thereafter, from the prior Distribution Date to (but excluding) the current Distribution Date on an actual/360 basis. The Certificates will initially settle flat (no accrued interest). | |
Interest Distribution Amount: | For the Offered Certificates of any class on any Distribution Date is equal to interest accrued during the related Interest Accrual Period on the Certificate Principal Balance of that class immediately prior to such Distribution Date at the then applicable pass-through rate for such class, and reduced (to not less than zero), in the case of each such class, by the allocable share, if any, for such class of prepayment interest shortfalls to the extent not covered by Compensating Interest paid by the Master Servicer or the Servicers and shortfalls resulting from the application of the Servicemembers’ Civil Relief Act or similar state or local laws. | |
Interest Carry Forward Amount: | The Interest Carry Forward Amount with respect to any class of Offered Certificates and any Distribution Date is equal to the amount, if any, by which the Interest Distribution Amount for that class of certificates for the immediately preceding Distribution Date exceeded the actual amount distributed on such class of Offered Certificates in respect of interest on the immediately preceding Distribution Date, together with any Interest Carry Forward Amount with respect to such class of Offered Certificates remaining unpaid from the previous Distribution Date, plus interest accrued thereon at the related pass-through rate for the most recently ended Interest Accrual Period, to the extent permitted by applicable law. | |
Senior Interest Distribution Amount: | For the Class A Certificates on any Distribution Date is an amount equal to the sum of the Interest Distribution Amount for such Distribution Date for the Class A Certificates and the Interest Carry Forward Amount, if any, for such Distribution Date for the Class A Certificates. | |
Administration Fee Rate: | The Master Servicer, Servicers and Credit Risk Manager will be paid monthly fees on the outstanding principal balance of the Mortgage Loans. These fees (“Administration Fee Rate”) initially aggregate to a weighted average cost of approximately [0.5800]% per annum for the Mortgage Loans. | |
Compensating Interest: | Ocwen will be required to cover Prepayment Interest Shortfalls with respect to prepayments in full on the related Mortgage Loans received during the portion of the Prepayment Period occurring between the first day of the related Prepayment Period and the last day of the calendar month preceding the month in which the Distribution Date occurs up to the Servicing Fee payable to Ocwen. SPS will be required to cover Prepayment Interest Shortfalls with respect to voluntary prepayments in full on the related Mortgage Loans received during the portion of the Prepayment Period occurring between the first day of the related Prepayment Period and the last day of the calendar month preceding the month in which the Distribution Date occurs up to one half of the Servicing Fee payable to SPS. WAMU will be required to cover Prepayment Interest Shortfalls with respect to prepayments in full on the related Mortgage Loans up to the Servicing Fee payable to WAMU. If a Servicer fails to make any required Compensating Interest payment, the Master Servicer will be required to do so up to the Master Servicing Fee. | |
Prepayment Interest Shortfalls: | Interest shortfalls attributable to voluntary principal prepayments on the Mortgage Loans. |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
6
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview (Cont.) |
Expense Adjusted Mortgage Rate: | For any Mortgage Loan and for any Distribution Date shall be a per annum rate equal to the applicable Mortgage Rate for such Mortgage Loan as of the first day of the month preceding the month in which such Distribution Date occurs minus the Administration Fee Rate. | ||
Optional Termination: | On any Distribution Date on which the aggregate outstanding principal balance of the Mortgage Loans (and the fair market value of all properties acquired by the trust in respect of the Mortgage Loans) as of the related Determination Date is less than or equal to 10% of the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date, the Master Servicer may repurchase the Mortgage Loans (and all properties acquired by the trust in respect of the Mortgage Loans) remaining in the trust, causing an early retirement of the Certificates, but is not required to do so. If the Master Servicer elects to repurchase the Mortgage Loans, the outstanding Certificate Principal Balance of each class of certificates will be paid in full, together with accrued interest. | ||
Monthly Servicer Advances: | Each Servicer will collect monthly payments of principal and interest on the Mortgage Loans serviced by such Servicer and will be obligated to make advances of delinquent monthly principal and interest payments. Each Servicer is required to advance delinquent payments of principal and interest on the Mortgage Loans serviced by such Servicer only to the extent such amounts are deemed recoverable by such Servicer. If a Servicer fails to make any such advance, the Master Servicer will be required to do so subject to its determination of recoverability. The Servicers and the Master Servicer are entitled to be reimbursed for these advances, and therefore these advances are not a form of credit enhancement. | ||
Credit Enhancement: | 1) Arrearages (if any) | ||
2) Excess Interest | |||
3) Overcollateralization (“OC”) | |||
4) Subordination | |||
Allocation of Realized Losses: | Any Realized Losses on the Mortgage Loans will be allocated sequentially on any Distribution Date, first, for those Mortgage Loans with Arrearages, to the amount of such Mortgage Loan’s Arrearage, second, to Net Monthly Excess Cashflow, third, to the Class CE Certificates, fourth, to the Class M-5 Certificates, fifth, to the Class M-4 Certificates, sixth, to the Class M-3 Certificates, seventh, to the Class M-2 Certificates, and eighth, to the Class M-1 Certificates. There will be no allocation of Realized Losses to the Class A Certificates. Investors in the Class A Certificates should note, however, that although Realized Losses cannot be allocated to such Certificates, under certain loss scenarios there may not be enough principal and interest on the Mortgage Loans to distribute to the holders of the Class A Certificates all principal and interest amounts to which they are then entitled. | ||
Once Realized Losses have been allocated to the Mezzanine Certificates the principal amount of the reduction in the Certificate Principal Balance of such certificates will no longer accrue interest and will not be reinstated thereafter. However, allocated Realized Losses may be paid to the holders of the Mezzanine Certificates from Net Monthly Excess Cashflow to the extent available. | |||
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
7
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview (Cont.) |
Required Overcollateralization Amount: | Overcollateralization refers to the amount by which the aggregate principal balance of the Mortgage Loans exceeds the Certificate Principal Balance of the Certificates (other than the Class CE Certificates). This excess (the “Overcollateralization Amount”) is intended to protect the certificateholders against shortfalls in payments on the Certificates. The Overcollateralization Amount for the Certificates will be approximately 5.45% and is anticipated to build to approximately 6.35% of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date (the “Required Overcollateralization Amount”). On or after the Stepdown Date and provided that a trigger event is not in effect, the Required Overcollateralization Amount may be permitted to decrease to approximately 12.70% of the ending aggregate principal balance of the Mortgage Loans as of such Due Period, subject to a floor amount of approximately 0.50% of the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date. If, due to losses, the Overcollateralization Amount is reduced below the Required Overcollaterization Amount, excess spread, if any is available, will be paid to the Certificates then entitled to receive distributions in respect of principal in order to reduce the Certificate Principal Balance of such Certificates to the extent necessary to reach the Required Overcollateralization Amount. | |
Overcollateralization Increase Amount: | An Overcollateralization Increase Amount for any Distribution Date is the amount of Net Monthly Excess Cashflow actually applied as an accelerated payment of principal to the extent the Required Overcollateralization Amount exceeds the current Overcollateralization Amount. | |
Overcollateralization Reduction Amount: | An Overcollateralization Reduction Amount for any Distribution Date is the amount by which the current Overcollateralization Amount exceeds the Required Overcollateralization Amount after taking into account all other distributions to be made on the Distribution Date limited to the distribution of principal on the Mortgage Loans. | |
Stepdown Date: | Is the earlier of (i) the first Distribution Date following the distribution date on which the Certificate Principal Balance of the Class A Certificates are reduced to zero and (ii) the later to occur of (x) the Distribution Date occurring in December 2009 and (y) the first Distribution Date on which the Credit Enhancement Percentage (calculated for this purpose only after taking into account distributions of principal on the Mortgage Loans, but prior to any distribution of principal to the holders of the Certificates) is equal to or greater than approximately 54.60%. | |
Credit Enhancement Percentage: | The Credit Enhancement Percentage for any class and any Distribution Date is the percentage obtained by dividing (x) the aggregate Certificate Principal Balance of the Mezzanine Certificates and Class CE Certificates by (y) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period calculated after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period and after reduction for Realized Losses incurred on the Mortgage Loans during the related Prepayment Period and distribution of the Principal Distribution Amount to the holders of the Certificates then entitled to distributions of principal on such Distribution Date. |
Class | (S / F) | Initial CE % | Target CE% | CE % On/After Step Down Date | |
A | AAA / AAA | 26.40% | 27.30% | 54.60% | |
M-1 | AA / AA | 16.65% | 17.55% | 35.10% | |
M-2 | A / A | 10.65% | 11.55% | 23.10% | |
M-3 | BBB+ / BBB+ | 8.15% | 9.05% | 18.10% | |
M-4 | BBB / BBB | 6.75% | 7.65% | 15.30% | |
M-5 | BBB / BBB- | 5.45% | 6.35% | 12.70% |
Net Monthly Excess Cashflow: | For any Distribution Date is equal to the sum of (i) any Overcollateralization Reduction Amount, (ii) all amounts collected as Arrearage payments and (iii) the excess of the Available Distribution Amount over the sum of (x) with respect to the Class A Certificates, the Senior Interest Distribution Amount for such Distribution Date, (y) with respect to the Mezzanine Certificates, the aggregate Interest Distribution Amount for such Distribution Date and (z) the amount of principal collected on the mortgage loans for such Distribution Date. |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
8
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview (Cont.) |
Net WAC Pass-Through Rate: | Offered Certificates: The per annum rate equal to the weighted average of the Expense Adjusted Mortgage Rates of Mortgage Loans subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period. | |
Net WAC Rate Carryover Amount: | If on any Distribution Date the Pass-Through Rate for any class of the Series 2006-SD3 Certificates is limited by the Net WAC Pass-Through Rate, such class will be entitled to the “Net WAC Rate Carryover Amount” which will be equal to the sum of (i) the excess of (a) the amount of interest that would have accrued on such class based on one month LIBOR plus the related margin over (b) the amount of interest accrued on such class based on the Net WAC Pass-Through Rate and (ii) the unpaid portion of any related Net WAC Rate Carryover Amount from the prior Distribution Date together with accrued interest on such unpaid portion of one month LIBOR plus the related margin for the most recently ended Interest Accrual Period. Any Net WAC Rate Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the extent of funds available in the priority described herein. | |
Available Distribution Amount: | For any Distribution Date, net of the administrative fees, an amount equal to (i) the aggregate amount of scheduled monthly payments on the Mortgage Loans due on the related Due Date and received on or prior to the related Determination Date; (ii) unscheduled payments in respect of the Mortgage Loans (including prepayments, insurance proceeds, liquidation proceeds, subsequent recoveries and proceeds from repurchases of and substitutions for the Mortgage Loans occurring during the Prepayment Period or proceeds from the repurchase of the Mortgage Loans due to the Optional Termination of the Trust); (iii) all P&I Advances with respect to the Mortgage Loans received for the Distribution Date; and (iv) all Compensating Interest paid by the Servicers or the Master Servicer in respect of Prepayment Interest Shortfalls for the related Due Period. | |
Class A Principal Distribution Amount: | Until the Stepdown Date, or if a Trigger Event occurs at any time, the Class A Certificates will receive the principal collected on the Mortgage Loans plus any excess cashflow required to reach or maintain the Required Overcollateralization Amount until the aggregate Certificate Principal Balance of the Class A Certificates has been reduced to zero. On or after the Stepdown Date, if no Trigger Event occurs, principal paid on the Class A Certificates will be an amount such that the Class A Certificates will maintain approximately a 54.60% Credit Enhancement Percentage (2x the Class A Target Credit Enhancement Percentage). | |
Principal distributions to the Class A Certificates will be allocated to the Class A Certificates until the Certificate Principal Balance has been reduced to zero; | ||
Class M Principal Distribution Amount: | Unless the Certificate Principal Balance of the Class A Certificates is reduced to zero, the Mezzanine Certificates will not receive any principal payments until the Stepdown Date. On or after the Stepdown Date (if no Trigger Event occurs), principal will be paid to the Mezzanine Certificates, first to the Class M-1 Certificates until it reaches approximately a 35.10% Credit Enhancement Percentage (2x the Class M-1 Target Credit Enhancement Percentage), second to the Class M-2 Certificates until it reaches approximately a 23.10% Credit Enhancement Percentage (2x the Class M-2 Target Credit Enhancement Percentage), third to the Class M-3 Certificates until it reaches approximately a 18.10% Credit Enhancement Percentage (2x the Class M-3 Target Credit Enhancement Percentage), fourth to the Class M-4 Certificates until it reaches approximately an 15.30% Credit Enhancement Percentage (2x the Class M-4 Target Credit Enhancement Percentage), and fifth to the Class M-5 Certificates until it reaches approximately an 12.70% Credit Enhancement Percentage (2x the Class M-5 Target Credit Enhancement Percentage). | |
If a Trigger Event occurs, principal payments will be paid first to the Class A Certificates in the manner described under "Class A Principal Distribution Amount" and then sequentially to the Mezzanine Certificates in their order of seniority, in each case until the Certificate Principal Balance of each such class has been reduced to zero. |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
9
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview (Cont.) |
Coupon Step-up: | On the Distribution Date following the first possible optional termination date, the margins on the Class A Certificates and the Mezzanine Certificates will increase to the following, subject to the Net WAC Pass-Through Rate. | |
Class | After Optional Termination | |
A | 2 x Margin | |
M | The lesser of: 1.5 times the Margin or the Margin plus 0.50% |
Trigger Event: | If either the Delinquency Test or Cumulative Loss Test is violated. | |
Delinquency Test: | The determination on any Distribution Date on or after the Step-Down that the rolling six month average of a fraction, expressed as a percentage, the numerator of which is the sum of the aggregate principal balances of (i) all 60-day Delinquent Mortgage Loans, as of the close of business on the last day of the related Due Period, (ii) Mortgage Loans in foreclosure, (iii) REO Properties and (iv) Mortgage Loans discharged due to bankruptcy and the denominator of which is the aggregate Principal Balance of the Mortgage Loans as of the close of business on the last day of the related Due Period, in each case after taking into account unscheduled collections of principal received during the related Prepayment Period equals or exceeds [29.30]% of the Credit Enhancement Percentage. | |
For Mortgage Loans that are the subject of forbearance plans and Mortgage Loans with respect to which the related borrower is the subject of bankruptcy proceedings, delinquency shall be deemed to mean delinquency of the monthly payment due under the related forbearance plan or bankruptcy plan, as applicable. | ||
A Mortgage Loan is a "60-day Delinquent Mortgage Loan" if the excess, if any, of (1) the number of days the most delinquent monthly payment for such Mortgage Loan was delinquent as of the close of business on the last day of the related Due Period minus (2) the number of days the most delinquent monthly payment for such Mortgage Loan was delinquent as of the close of business on the Cut-off Date, is greater than or equal to 60. | ||
Cumulative Loss Test: | The determination on any Distribution Date that the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period divided by the aggregate principal balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Distribution Date: | |
Distribution Date Occurring in | Percentage | |
December 2009 to November 2010 | [3.89]%, plus 1/12th of [2.11]% for each month thereafter | |
December 2010 to November 2011 | [6.00]%, plus 1/12th of [1.25]% for each month thereafter | |
December 2011 to November 2012 | [7.25]%, plus 1/12th of [0.25]% for each month thereafter | |
December 2012 and thereafter | [7.50]% | |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
10
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Transaction Overview (Cont.) |
Payment Priority: | On each Distribution Date, the Available Distribution Amount will be distributed as follows: |
1. | To pay interest on the Class A Certificates, including any Interest Carry Forward Amount, then to pay interest excluding any Interest Carry Forward Amount sequentially to the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, in that order. | |
2. | To pay principal on the Class A Certificates in accordance with the principal payment provisions described above under “Class A Principal Distribution Amount”. | |
3. | To pay principal to the Mezzanine Certificates in accordance with the principal payment provisions described above under “Class M Principal Distribution Amount”. | |
4. | From excess interest, if any, to the Certificates then entitled to receive distributions in respect of principal in order to reduce the aggregate Certificate Principal Balance of the Certificates to the extent necessary to build up to or maintain the Required Overcollateralization Amount. | |
5. | From excess interest, if any, to pay the Interest Carry Forward Amounts sequentially to the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, in that order. | |
6. | From excess interest, if any, to pay the allocated Realized Losses sequentially to the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, in that order. | |
7. | From excess interest, if any, to pay the Net WAC Rate Carryover Amount on the Offered Certificates in the same order of priority as described in clause 1 above. | |
8. | To pay any remaining amount to the non-offered certificates in accordance with the pooling and servicing Agreement. |
ERISA: | It is expected that the Class A Certificates may be purchased by, or with the assets of, employee benefit plans subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or plans or arrangements subject to section 4975 of the Internal Revenue Code (each, a “Plan”) and the Mezzanine Certificates may be purchased by Plans through certain insurance company general accounts. Investors should consult with their counsel with respect to the consequences under ERISA and the Internal Revenue Code of a Plan’s acquisition and ownership of such certificates. | |
Taxation - REMIC: | One or more REMIC elections will be made for designated portions of the Trust (exclusive of certain shortfall payments). | |
Form of Registration: | Book-entry form through DTC, Clearstream and Euroclear. | |
Legal Investment: | The Offered Certificates will not constitute “mortgage related securities” for the purposes of the Secondary Mortgage Market Enhancement Act of 1984. | |
Minimum Denominations: | $25,000 and integral multiples of $1 in excess thereof. |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
11
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Cap Schedule
Distribution Date | Notional Schedule ($) | Strike Rate (%) | Cap Ceiling (%) | |
1 | 12/25/2006 | 165,967,323.09 | 7.794 | 10.5 |
2 | 1/25/2007 | 161,267,026.09 | 7.796 | 10.5 |
3 | 2/25/2007 | 156,700,207.05 | 7.799 | 10.5 |
4 | 3/25/2007 | 152,262,980.61 | 7.799 | 10.5 |
5 | 4/25/2007 | 147,951,656.67 | 7.806 | 10.5 |
6 | 5/25/2007 | 143,762,802.81 | 7.82 | 10.5 |
7 | 6/25/2007 | 139,693,237.07 | 7.821 | 10.5 |
8 | 7/25/2007 | 135,739,115.20 | 7.846 | 10.5 |
9 | 8/25/2007 | 131,897,314.18 | 7.846 | 10.5 |
10 | 9/25/2007 | 128,164,469.39 | 7.844 | 10.5 |
11 | 10/25/2007 | 124,537,461.91 | 7.870 | 10.5 |
12 | 11/25/2007 | 121,013,592.14 | 7.871 | 10.5 |
13 | 12/25/2007 | 117,589,525.37 | 7.936 | 10.5 |
14 | 1/25/2008 | 114,261,409.11 | 8.102 | 10.5 |
15 | 2/25/2008 | 111,029,150.54 | 8.118 | 10.5 |
16 | 3/25/2008 | 107,888,484.24 | 8.276 | 10.5 |
17 | 4/25/2008 | 104,838,457.85 | 8.371 | 10.5 |
18 | 5/25/2008 | 101,876,694.14 | 8.394 | 10.5 |
19 | 6/25/2008 | 98,996,642.43 | 8.430 | 10.5 |
20 | 7/25/2008 | 96,198,415.96 | 8.495 | 10.5 |
21 | 8/25/2008 | 93,479,802.76 | 8.499 | 10.5 |
22 | 9/25/2008 | 90,838,124.36 | 8.594 | 10.5 |
23 | 10/25/2008 | 88,272,168.97 | 8.601 | 10.5 |
24 | 11/25/2008 | 85,778,793.49 | 8.623 | 10.5 |
25 | 12/25/2008 | 83,356,321.16 | 8.634 | 10.5 |
26 | 1/25/2009 | 81,002,485.03 | 8.679 | 10.5 |
27 | 2/25/2009 | 78,715,549.43 | 8.681 | 10.5 |
28 | 3/25/2009 | 76,493,284.67 | 8.668 | 10.5 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
12
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Sensitivity Table
To 10% Call
0% PPC | 55% PPC | 100% PPC | 125% PPC | 160% PPC | ||
A | Avg Life | 18.51 | 3.74 | 1.83 | 1.15 | 0.85 |
First Payment Date | Dec-06 | Dec-06 | Dec-06 | Dec-06 | Dec-06 | |
Last Payment Date | Nov-35 | Jun-19 | Aug-13 | Oct-09 | Jan-09 | |
M-1 | Avg Life | 26.59 | 8.27 | 5.04 | 4.95 | 3.50 |
First Payment Date | Aug-29 | Oct-10 | Aug-10 | Oct-09 | Jan-09 | |
Last Payment Date | Nov-35 | Jun-19 | Aug-13 | Jan-12 | Aug-10 | |
M-2 | Avg Life | 26.59 | 8.27 | 4.71 | 4.26 | 3.18 |
First Payment Date | Aug-29 | Oct-10 | Apr-10 | Jun-10 | Aug-09 | |
Last Payment Date | Nov-35 | Jun-19 | Aug-13 | Jan-12 | Aug-10 | |
M-3 | Avg Life | 26.59 | 8.27 | 4.63 | 3.99 | 2.95 |
First Payment Date | Aug-29 | Oct-10 | Mar-10 | Apr-10 | Jun-09 | |
Last Payment Date | Nov-35 | Jun-19 | Aug-13 | Jan-12 | Aug-10 | |
M-4 | Avg Life | 26.59 | 8.27 | 4.60 | 3.91 | 2.89 |
First Payment Date | Aug-29 | Oct-10 | Feb-10 | Mar-10 | May-09 | |
Last Payment Date | Nov-35 | Jun-19 | Aug-13 | Jan-12 | Aug-10 | |
M-5 | Avg Life | 26.59 | 8.27 | 4.59 | 3.87 | 2.85 |
First Payment Date | Aug-29 | Oct-10 | Feb-10 | Feb-10 | Apr-09 | |
Last Payment Date | Nov-35 | Jun-19 | Aug-13 | Jan-12 | Aug-10 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
13
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Sensitivity Table
Maturity
0% PPC | 55% PPC | 100% PPC | 125% PPC | 160% PPC | ||
A | Avg Life | 18.55 | 4.00 | 1.99 | 1.15 | 0.85 |
First Payment Date | Dec-06 | Dec-06 | Dec-06 | Dec-06 | Dec-06 | |
Last Payment Date | Oct-39 | Nov-31 | Dec-21 | Oct-09 | Jan-09 | |
M-1 | Avg Life | 26.69 | 9.08 | 5.54 | 6.33 | 4.54 |
First Payment Date | Aug-29 | Oct-10 | Aug-10 | Oct-09 | Jan-09 | |
Last Payment Date | Aug-36 | Nov-29 | Jun-20 | Oct-18 | Aug-15 | |
M-2 | Avg Life | 26.69 | 9.04 | 5.18 | 4.63 | 3.45 |
First Payment Date | Aug-29 | Oct-10 | Apr-10 | Jun-10 | Aug-09 | |
Last Payment Date | Aug-36 | Apr-28 | Mar-19 | Jun-16 | Nov-13 | |
M-3 | Avg Life | 26.69 | 8.98 | 5.06 | 4.34 | 3.21 |
First Payment Date | Aug-29 | Oct-10 | Mar-10 | Apr-10 | Jun-09 | |
Last Payment Date | Aug-36 | Jul-26 | Jan-18 | Jun-15 | Mar-13 | |
M-4 | Avg Life | 26.69 | 8.93 | 5.00 | 4.23 | 3.13 |
First Payment Date | Aug-29 | Oct-10 | Feb-10 | Mar-10 | May-09 | |
Last Payment Date | Aug-36 | Jun-25 | Apr-17 | Dec-14 | Oct-12 | |
M-5 | Avg Life | 26.69 | 8.87 | 4.96 | 4.16 | 3.07 |
First Payment Date | Aug-29 | Oct-10 | Feb-10 | Feb-10 | Apr-09 | |
Last Payment Date | Aug-36 | Sep-24 | Nov-16 | Jul-14 | Jun-12 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
14
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Net WAC Schedule* | Net WAC Schedule* | |||||
Period | Date | Net WAC Pass-Through Rate (%) | Period | Date | Net WAC Pass-Through Rate (%) | |
1 | 12/25/2006 | 12.059 | 44 | 7/25/2010 | 11.410 | |
2 | 1/25/2007 | 10.255 | 45 | 8/25/2010 | 11.062 | |
3 | 2/25/2007 | 10.255 | 46 | 9/25/2010 | 11.108 | |
4 | 3/25/2007 | 11.065 | 47 | 10/25/2010 | 11.483 | |
5 | 4/25/2007 | 10.261 | 48 | 11/25/2010 | 11.151 | |
6 | 5/25/2007 | 10.537 | 49 | 12/25/2010 | 11.535 | |
7 | 6/25/2007 | 10.285 | 50 | 1/25/2011 | 11.169 | |
8 | 7/25/2007 | 10.538 | 51 | 2/25/2011 | 11.187 | |
9 | 8/25/2007 | 10.288 | 52 | 3/25/2011 | 12.436 | |
10 | 9/25/2007 | 10.291 | 53 | 4/25/2011 | 11.236 | |
11 | 10/25/2007 | 10.560 | 54 | 5/25/2011 | 11.714 | |
12 | 11/25/2007 | 10.316 | 55 | 6/25/2011 | 11.378 | |
13 | 12/25/2007 | 10.574 | 56 | 7/25/2011 | 11.759 | |
14 | 1/25/2008 | 10.316 | 57 | 8/25/2011 | 11.375 | |
15 | 2/25/2008 | 10.318 | 58 | 9/25/2011 | 11.368 | |
16 | 3/25/2008 | 10.880 | 59 | 10/25/2011 | 11.770 | |
17 | 4/25/2008 | 10.329 | 60 | 11/25/2011 | 11.387 | |
18 | 5/25/2008 | 10.645 | 61 | 12/25/2011 | 11.769 | |
19 | 6/25/2008 | 10.378 | 62 | 1/25/2012 | 11.384 | |
20 | 7/25/2008 | 10.759 | 63 | 2/25/2012 | 11.380 | |
21 | 8/25/2008 | 10.480 | 64 | 3/25/2012 | 12.158 | |
22 | 9/25/2008 | 11.152 | 65 | 4/25/2012 | 11.367 | |
23 | 10/25/2008 | 11.562 | 66 | 5/25/2012 | 11.739 | |
24 | 11/25/2008 | 11.264 | 67 | 6/25/2012 | 11.354 | |
25 | 12/25/2008 | 11.601 | 68 | 7/25/2012 | 11.726 | |
26 | 1/25/2009 | 11.423 | 69 | 8/25/2012 | 11.342 | |
27 | 2/25/2009 | 11.431 | 70 | 9/25/2012 | 11.336 | |
28 | 3/25/2009 | 12.726 | 71 | 10/25/2012 | 11.707 | |
29 | 4/25/2009 | 9.947 | 72 | 11/25/2012 | 11.323 | |
30 | 5/25/2009 | 10.476 | 73 | 12/25/2012 | 11.694 | |
31 | 6/25/2009 | 10.184 | 74 | 1/25/2013 | 11.310 | |
32 | 7/25/2009 | 10.666 | 75 | 2/25/2013 | 11.306 | |
33 | 8/25/2009 | 10.398 | 76 | 3/25/2013 | 12.510 | |
34 | 9/25/2009 | 10.622 | 77 | 4/25/2013 | 11.304 | |
35 | 10/25/2009 | 11.014 | 78 | 5/25/2013 | 11.674 | |
36 | 11/25/2009 | 10.725 | 79 | 6/25/2013 | 11.290 | |
37 | 12/25/2009 | 11.119 | 80 | 7/25/2013 | 11.660 | |
38 | 1/25/2010 | 10.789 | 81 | 8/25/2013 | 11.278 | |
39 | 2/25/2010 | 10.811 | ||||
40 | 3/25/2010 | 12.045 | ||||
41 | 4/25/2010 | 10.956 | ||||
42 | 5/25/2010 | 11.382 | ||||
43 | 6/25/2010 | 11.028 | ||||
*PPC:100% | |
*1 Month LIBOR: 20% | |
*6 Month Libor: 20% | |
*1 Year CMT 20% | |
*1 Year LBIOR 20% |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
15
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Excess Spread
(Assumes Pricing Speed, Excludes Basis Risk Shortfalls)
Period | Excess Spread in bp (Static LIBOR) | Excess Spread in bp (Forward LIBOR) | 1 Month Forward LIBOR (%) | 6 Month Forward LIBOR (%) | 1 Year Forward LIBOR (%) | 1 Year Forward Treasury (%) |
1 | 317 | 317 | 5.32000 | 5.35940 | 5.35940 | 5.35940 |
2 | 209 | 203 | 5.37370 | 5.32700 | 5.32700 | 5.32700 |
3 | 210 | 208 | 5.34060 | 5.27360 | 5.27360 | 5.27360 |
4 | 267 | 269 | 5.29200 | 5.21830 | 5.21830 | 5.21830 |
5 | 215 | 222 | 5.23740 | 5.16070 | 5.16070 | 5.16070 |
6 | 236 | 244 | 5.22870 | 5.09990 | 5.09990 | 5.09990 |
7 | 218 | 236 | 5.13130 | 5.04250 | 5.04250 | 5.04250 |
8 | 240 | 261 | 5.07680 | 5.02380 | 5.02380 | 5.02380 |
9 | 222 | 251 | 5.00750 | 5.01230 | 5.01230 | 5.01230 |
10 | 223 | 258 | 4.93990 | 5.00910 | 5.00910 | 5.00910 |
11 | 244 | 282 | 4.90230 | 5.01430 | 5.01430 | 5.01430 |
12 | 227 | 268 | 4.88010 | 5.02440 | 5.02440 | 5.02440 |
13 | 253 | 278 | 5.02610 | 5.03580 | 5.03580 | 5.03580 |
14 | 252 | 280 | 5.00900 | 5.01880 | 5.01880 | 5.01880 |
15 | 255 | 284 | 4.99140 | 5.00090 | 5.00090 | 5.00090 |
16 | 308 | 336 | 4.97380 | 4.98340 | 4.98340 | 4.98340 |
17 | 282 | 314 | 4.95770 | 4.96730 | 4.96730 | 4.96730 |
18 | 304 | 335 | 4.94040 | 4.95000 | 4.95000 | 4.95000 |
19 | 291 | 324 | 4.92410 | 4.93350 | 4.93350 | 4.93350 |
20 | 318 | 349 | 4.90590 | 4.93610 | 4.93610 | 4.93610 |
21 | 301 | 335 | 4.89070 | 4.94090 | 4.94090 | 4.94090 |
22 | 319 | 346 | 4.87410 | 4.94790 | 4.94790 | 4.94790 |
23 | 339 | 366 | 4.85680 | 4.95400 | 4.95400 | 4.95400 |
24 | 325 | 354 | 4.84150 | 4.96280 | 4.96280 | 4.96280 |
25 | 345 | 363 | 4.94140 | 4.97340 | 4.97340 | 4.97340 |
26 | 334 | 354 | 4.93360 | 4.96560 | 4.96560 | 4.96560 |
27 | 336 | 356 | 4.92650 | 4.95780 | 4.95780 | 4.95780 |
28 | 390 | 407 | 4.91720 | 4.94960 | 4.94960 | 4.94960 |
29 | 342 | 361 | 4.91080 | 4.94290 | 4.94290 | 4.94290 |
30 | 373 | 389 | 4.90340 | 4.93530 | 4.93530 | 4.93530 |
31 | 359 | 376 | 4.89630 | 4.92830 | 4.92830 | 4.92830 |
32 | 379 | 395 | 4.88790 | 4.94470 | 4.94470 | 4.94470 |
33 | 366 | 383 | 4.88090 | 4.96440 | 4.96440 | 4.96440 |
34 | 375 | 391 | 4.87340 | 4.98640 | 4.98640 | 4.98640 |
35 | 395 | 409 | 4.86510 | 5.00700 | 5.00700 | 5.00700 |
36 | 380 | 397 | 4.85850 | 5.03000 | 5.03000 | 5.03000 |
37 | 399 | 403 | 5.00500 | 5.05670 | 5.05670 | 5.05670 |
38 | 366 | 373 | 5.00490 | 5.05610 | 5.05610 | 5.05610 |
39 | 350 | 358 | 5.00470 | 5.05500 | 5.05500 | 5.05500 |
40 | 405 | 412 | 5.00270 | 5.05450 | 5.05450 | 5.05450 |
41 | 353 | 363 | 5.00310 | 5.05430 | 5.05430 | 5.05430 |
42 | 373 | 383 | 5.00200 | 5.05300 | 5.05300 | 5.05300 |
43 | 356 | 367 | 5.00150 | 5.05260 | 5.05260 | 5.05260 |
44 | 376 | 385 | 5.00020 | 5.06070 | 5.06070 | 5.06070 |
45 | 359 | 370 | 5.00020 | 5.07070 | 5.07070 | 5.07070 |
46 | 360 | 371 | 4.99830 | 5.08130 | 5.08130 | 5.08130 |
47 | 378 | 389 | 4.99690 | 5.08950 | 5.08950 | 5.08950 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
16
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Excess Spread (continued)
(Assumes Pricing Speed, Excludes Basis Risk Shortfalls)
Period | Excess Spread in bp (Static LIBOR) | Excess Spread in bp (Forward LIBOR) | 1 Month Forward LIBOR (%) | 6 Month Forward LIBOR (%) | 1 Year Forward LIBOR (%) | 1 Year Forward Treasury (%) |
48 | 360 | 372 | 4.99630 | 5.10020 | 5.10020 | 5.10020 |
49 | 378 | 384 | 5.05590 | 5.11140 | 5.11140 | 5.11140 |
50 | 360 | 368 | 5.05690 | 5.11170 | 5.11170 | 5.11170 |
51 | 361 | 368 | 5.05740 | 5.11160 | 5.11160 | 5.11160 |
52 | 414 | 420 | 5.05670 | 5.11220 | 5.11220 | 5.11220 |
53 | 361 | 369 | 5.05810 | 5.11300 | 5.11300 | 5.11300 |
54 | 381 | 388 | 5.05860 | 5.11260 | 5.11260 | 5.11260 |
55 | 364 | 372 | 5.05840 | 5.11350 | 5.11350 | 5.11350 |
56 | 382 | 389 | 5.05810 | 5.12220 | 5.12220 | 5.12220 |
57 | 364 | 373 | 5.05870 | 5.13380 | 5.13380 | 5.13380 |
58 | 364 | 374 | 5.05820 | 5.14320 | 5.14320 | 5.14320 |
59 | 382 | 391 | 5.05760 | 5.15240 | 5.15240 | 5.15240 |
60 | 365 | 375 | 5.05760 | 5.16400 | 5.16400 | 5.16400 |
61 | 382 | 387 | 5.11600 | 5.17360 | 5.17360 | 5.17360 |
62 | 364 | 370 | 5.11800 | 5.17460 | 5.17460 | 5.17460 |
63 | 364 | 369 | 5.11820 | 5.17480 | 5.17480 | 5.17480 |
64 | 399 | 404 | 5.11810 | 5.17530 | 5.17530 | 5.17530 |
65 | 363 | 370 | 5.12010 | 5.17630 | 5.17630 | 5.17630 |
66 | 381 | 387 | 5.11960 | 5.17620 | 5.17620 | 5.17620 |
67 | 363 | 369 | 5.12030 | 5.17680 | 5.17680 | 5.17680 |
68 | 380 | 386 | 5.12100 | 5.18300 | 5.18300 | 5.18300 |
69 | 362 | 369 | 5.12080 | 5.19050 | 5.19050 | 5.19050 |
70 | 362 | 369 | 5.12090 | 5.19690 | 5.19690 | 5.19690 |
71 | 379 | 386 | 5.12130 | 5.20240 | 5.20240 | 5.20240 |
72 | 361 | 369 | 5.12330 | 5.21000 | 5.21000 | 5.21000 |
73 | 379 | 383 | 5.15920 | 5.21610 | 5.21610 | 5.21610 |
74 | 361 | 366 | 5.16000 | 5.21670 | 5.21670 | 5.21670 |
75 | 360 | 365 | 5.16030 | 5.21680 | 5.21680 | 5.21680 |
76 | 413 | 417 | 5.15950 | 5.21640 | 5.21640 | 5.21640 |
77 | 360 | 366 | 5.16110 | 5.21820 | 5.21820 | 5.21820 |
78 | 378 | 383 | 5.16040 | 5.21680 | 5.21680 | 5.21680 |
79 | 360 | 365 | 5.16070 | 5.21690 | 5.21690 | 5.21690 |
80 | 377 | 382 | 5.16050 | 5.22440 | 5.22440 | 5.22440 |
81 | 359 | 365 | 5.16030 | 5.23090 | 5.23090 | 5.23090 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
17
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
Breakeven CDR Table for the Subordinated Certificates | ||||||||
The assumptions for the breakeven CDR table below are as follows: | ||||||||
- The Pricing Assumption is applied | ||||||||
- 10% cleanup call is exercised | ||||||||
- Forward Curves | ||||||||
- 40% Severity | ||||||||
- Interest & Principal advancing | ||||||||
- 6 month recovery lag | ||||||||
- Triggers Failing | ||||||||
- The CDR that can be sustained without the referenced Class incurring a writedown |
Class | CDR Break-Even (%) | Cumulative Loss (%) |
M-1 | 36.49 | 20.10 |
M-2 | 22.25 | 14.98 |
M-3 | 17.72 | 12.88 |
M-4 | 15.58 | 11.73 |
M-5 | 13.83 | 10.74 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
18
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
SUMMARY - AGGREGATE POOL |
Number of Mortgage Loans: | 841 | Index Type: | ||
Aggregate Principal Balance: | $165,967,323 | 1 Year Treasury: | 0.19% | |
Average Original Principal Balance: | $199,738 | 6 Month LIBOR: | 65.84% | |
Average Current Principal Balance: | $197,345 | 1 Month LIBOR: | 0.34% | |
Range: | $2,036 - $3,900,000 | Other | 7.50% | |
W.A. Coupon: | 8.374% | Fixed Rate: | 26.13% | |
Range: | 4.500% - 14.125% | W.A. Initial Periodic Cap (3): | 3.32% | |
W.A. Gross Margin: | 5.270% | W.A. Subsequent Periodic Cap: | 1.44% | |
Range: | 2.100% - 9.650% | W.A. Lifetime Rate Cap: | 6.03% | |
W.A. Remaining Term (months): | 340 | Property Type: | ||
Range: | 8 - 469 | Single Family Residence: | 76.78% | |
W.A. Seasoning (months): | 13 | PUD: | 9.02% | |
Latest Maturity Date: | October 1, 2045 | 2-4 Family: | 8.66% | |
State Concentration (Top 5): | Condo: | 5.09% | ||
California: | 32.18% | Other: | 0.41% | |
Florida: | 17.03% | Manufactured Housing: | 0.04% | |
New York: | 8.48% | |||
Texas: | 3.79% | Occupancy Status: | ||
New Jersey: | 3.63% | Primary: | 90.82% | |
Non-Zero W.A. Current Combined LTV | 73.42% | Investment: | 8.18% | |
W.A. Current Updated Combined LTV(1): | 71.64% | Second Home: | 1.00% | |
First Liens: | 94.40% | |||
Second Liens: | 5.60% | Cashflow Velocity: | ||
Non-Balloon Loans: | 87.99% | 1 Month: | 100.31 | |
Non-Zero W.A. FICO Score(2): | 615 | 3 Month: | 107.54 | |
Loans in Bankruptcy: | 1.26% | 5 Month: | 101.73 | |
Delinquency(4): | Non-Zero W.A. Prepayment Penalty - Term (months): | 26 months | ||
Current: | 91.28% | Loans with Prepay Penalties: | 47.01% | |
30-59 Days: | 8.35% | Loans with Primary Mortgage Insurance | 2.97% | |
60+ Days: | 0.37% |
1. Current Updated CLTV’s are calculated by taking the original CLTV for those loans seasoned 11 months or less and an updated CLTV for those loans seasoned 12 months or more. Updated CLTV’s for those loans seasoned 12 months or more are calculated by taking the UPB as of the Cut-off date plus the senior balance, in the case of second liens, divided by an updated BPO value. Updated CLTV’s were calculated for 29.00% of the Mortgage Loans. An updated CLTV was not calculated for 71.00% of the Mortgage Loans.
2. The Weighted Average FICO score was calculated by taking an updated FICO score for those loans seasoned more than 6 months and/or with previous delinquencies beyond 90 days (52.76% of the Mortgage Loans by balance) and the FICO score at origination for the remaining mortgage loans (47.24% of the Mortgage Loans by balance).
3. The Weighted Average Initial Periodic Cap was calculated by taking the Initial Periodic Cap for those loans that have not yet reset and the Subsequent Periodic Cap for those loans that have already reset.
4. Based on the terms of the original mortgage note, modification, bankruptcy plan or forbearance plan as may be applicable as of the Cutoff Date.
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
19
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Collateral Type | ||||||
Collateral Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Fixed Rate | 359 | 43,370,314 | 26.13 | 7.768 | 662 | 77.16 |
ARM | 482 | 122,597,009 | 73.87 | 8.588 | 599 | 69.68 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Days Delinquent | ||||||
Days Delinquent | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0 - 29 | 745 | 151,491,396 | 91.28 | 8.286 | 622 | 71.31 |
30 - 59 | 89 | 13,854,735 | 8.35 | 9.306 | 540 | 74.84 |
60 - 89 | 1 | 33,915 | 0.02 | 11.375 | 589 | 84.79 |
90 - 119 | 1 | 62,527 | 0.04 | 10.500 | 589 | 93.67 |
120 or more | 5 | 524,750 | 0.32 | 8.720 | 530 | 77.06 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
20
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Principal Balance at Origination | ||||||
Principal Balance at Origination ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50,000.00 | 126 | 3,939,134 | 2.37 | 10.404 | 590 | 90.48 |
50,000.01 - 100,000.00 | 188 | 13,992,467 | 8.43 | 9.279 | 611 | 80.50 |
100,000.01 - 150,000.00 | 155 | 19,205,870 | 11.57 | 9.417 | 574 | 75.21 |
150,000.01 - 200,000.00 | 110 | 18,840,115 | 11.35 | 9.075 | 581 | 71.46 |
200,000.01 - 250,000.00 | 72 | 15,943,942 | 9.61 | 8.839 | 585 | 73.28 |
250,000.01 - 300,000.00 | 39 | 10,727,113 | 6.46 | 8.642 | 592 | 68.49 |
300,000.01 - 350,000.00 | 38 | 12,356,179 | 7.44 | 7.394 | 632 | 73.84 |
350,000.01 - 400,000.00 | 31 | 11,335,854 | 6.83 | 7.272 | 643 | 67.47 |
400,000.01 - 450,000.00 | 23 | 9,651,366 | 5.82 | 7.306 | 639 | 69.92 |
450,000.01 - 500,000.00 | 16 | 7,518,648 | 4.53 | 7.568 | 629 | 70.31 |
500,000.01 - 550,000.00 | 7 | 3,646,241 | 2.20 | 7.182 | 670 | 72.02 |
550,000.01 - 600,000.00 | 11 | 6,183,125 | 3.73 | 7.092 | 697 | 66.45 |
600,000.01 - 650,000.00 | 5 | 3,050,164 | 1.84 | 5.380 | 703 | 63.57 |
650,000.01 - 700,000.00 | 1 | 679,358 | 0.41 | 8.700 | 677 | 80.00 |
750,000.01 - 800,000.00 | 2 | 1,554,334 | 0.94 | 6.675 | 550 | 80.00 |
800,000.01 - 850,000.00 | 3 | 2,467,584 | 1.49 | 8.470 | 649 | 57.89 |
850,000.01 - 900,000.00 | 1 | 805,587 | 0.49 | 6.625 | 803 | 81.37 |
900,000.01 - 950,000.00 | 1 | 927,235 | 0.56 | 5.375 | 753 | 73.88 |
950,000.01 - 1,000,000.00 | 3 | 2,904,767 | 1.75 | 6.526 | 691 | 56.20 |
1,000,000.01 or greater | 9 | 20,238,239 | 12.19 | 8.863 | 614 | 66.50 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
21
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Remaining Principal Balance | ||||||
Remaining Principal Balance ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50,000.00 | 131 | 4,116,197 | 2.48 | 10.392 | 597 | 88.44 |
50,000.01 - 100,000.00 | 184 | 13,899,322 | 8.37 | 9.268 | 610 | 80.57 |
100,000.01 - 150,000.00 | 158 | 19,671,217 | 11.85 | 9.339 | 576 | 75.59 |
150,000.01 - 200,000.00 | 107 | 18,413,969 | 11.09 | 9.096 | 581 | 70.77 |
200,000.01 - 250,000.00 | 72 | 15,950,823 | 9.61 | 8.877 | 583 | 73.69 |
250,000.01 - 300,000.00 | 40 | 11,015,240 | 6.64 | 8.651 | 593 | 67.95 |
300,000.01 - 350,000.00 | 38 | 12,404,668 | 7.47 | 7.332 | 634 | 74.66 |
350,000.01 - 400,000.00 | 30 | 11,254,527 | 6.78 | 7.262 | 640 | 66.64 |
400,000.01 - 450,000.00 | 24 | 10,164,395 | 6.12 | 7.366 | 637 | 69.69 |
450,000.01 - 500,000.00 | 15 | 7,107,101 | 4.28 | 7.408 | 641 | 70.21 |
500,000.01 - 550,000.00 | 9 | 4,777,980 | 2.88 | 6.734 | 692 | 63.54 |
550,000.01 - 600,000.00 | 10 | 5,746,661 | 3.46 | 7.409 | 686 | 74.36 |
600,000.01 - 650,000.00 | 3 | 1,868,117 | 1.13 | 4.990 | 677 | 60.25 |
650,000.01 - 700,000.00 | 1 | 679,358 | 0.41 | 8.700 | 677 | 80.00 |
750,000.01 - 800,000.00 | 2 | 1,554,334 | 0.94 | 6.675 | 550 | 80.00 |
800,000.01 - 850,000.00 | 4 | 3,273,171 | 1.97 | 8.016 | 687 | 63.67 |
900,000.01 - 950,000.00 | 2 | 1,862,814 | 1.12 | 4.936 | 781 | 57.43 |
950,000.01 - 1,000,000.00 | 2 | 1,969,188 | 1.19 | 7.489 | 636 | 63.37 |
1,000,000.01 or greater | 9 | 20,238,239 | 12.19 | 8.863 | 614 | 66.50 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Remaining Term | ||||||
Remaining Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1 - 60 | 3 | 20,237 | 0.01 | 11.808 | 727 | 19.06 |
61 - 120 | 10 | 470,619 | 0.28 | 8.683 | 618 | 46.98 |
121 - 180 | 111 | 6,798,697 | 4.10 | 9.650 | 668 | 89.58 |
181 - 240 | 6 | 677,818 | 0.41 | 7.539 | 715 | 62.45 |
241 - 300 | 26 | 3,245,064 | 1.96 | 9.770 | 640 | 57.39 |
301 - 360 | 680 | 153,020,522 | 92.20 | 8.300 | 613 | 71.17 |
361 or more | 5 | 1,734,367 | 1.05 | 7.492 | 532 | 80.45 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
22
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Seasoning | ||||||
Seasoning (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1 - 12 | 621 | 122,717,504 | 73.94 | 8.857 | 606 | 73.40 |
13 - 24 | 117 | 21,741,912 | 13.10 | 7.009 | 587 | 80.28 |
25 - 36 | 4 | 347,202 | 0.21 | 9.067 | 490 | 103.69 |
37 - 48 | 48 | 15,661,562 | 9.44 | 6.292 | 719 | 51.92 |
49 - 60 | 10 | 1,868,266 | 1.13 | 7.389 | 668 | 45.20 |
61 - 120 | 39 | 3,531,097 | 2.13 | 9.644 | 636 | 57.13 |
121 - 180 | 1 | 83,918 | 0.05 | 9.125 | 704 | 12.91 |
301 - 360 | 1 | 15,862 | 0.01 | 11.750 | 782 | 2.11 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
23
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Mortgage Rate | ||||||
Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
4.500 - 4.999 | 5 | 2,730,237 | 1.65 | 4.657 | 754 | 51.40 |
5.000 - 5.499 | 20 | 7,345,225 | 4.43 | 5.210 | 758 | 56.60 |
5.500 - 5.999 | 36 | 9,724,908 | 5.86 | 5.678 | 678 | 60.69 |
6.000 - 6.499 | 51 | 13,808,040 | 8.32 | 6.238 | 671 | 74.51 |
6.500 - 6.999 | 80 | 20,241,824 | 12.20 | 6.726 | 646 | 74.30 |
7.000 - 7.499 | 49 | 11,736,484 | 7.07 | 7.185 | 632 | 74.55 |
7.500 - 7.999 | 72 | 14,818,330 | 8.93 | 7.700 | 597 | 80.81 |
8.000 - 8.499 | 46 | 7,765,803 | 4.68 | 8.208 | 624 | 74.82 |
8.500 - 8.999 | 59 | 20,993,536 | 12.65 | 8.675 | 617 | 70.32 |
9.000 - 9.499 | 40 | 8,628,846 | 5.20 | 9.148 | 616 | 72.19 |
9.500 - 9.999 | 66 | 9,518,830 | 5.74 | 9.785 | 566 | 75.50 |
10.000 - 10.499 | 57 | 5,806,532 | 3.50 | 10.274 | 531 | 77.07 |
10.500 - 10.999 | 67 | 8,606,031 | 5.19 | 10.900 | 546 | 74.87 |
11.000 - 11.499 | 48 | 5,214,565 | 3.14 | 11.389 | 520 | 70.02 |
11.500 - 11.999 | 80 | 11,203,374 | 6.75 | 11.815 | 538 | 65.91 |
12.000 - 12.499 | 30 | 3,552,885 | 2.14 | 12.392 | 544 | 72.98 |
12.500 - 12.999 | 27 | 3,877,338 | 2.34 | 12.975 | 544 | 65.48 |
13.000 - 13.499 | 3 | 132,248 | 0.08 | 13.406 | 502 | 77.74 |
13.500 - 13.999 | 4 | 235,064 | 0.14 | 13.863 | 538 | 78.60 |
14.000 - 14.499 | 1 | 27,225 | 0.02 | 14.125 | 700 | 60.50 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
24
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Original Combined Loan-to-Value Ratio | ||||||
Original Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 44 | 9,520,447 | 5.74 | 8.085 | 672 | 38.66 |
50.01 - 55.00 | 20 | 4,360,467 | 2.63 | 7.907 | 615 | 51.80 |
55.01 - 60.00 | 28 | 6,581,688 | 3.97 | 8.995 | 609 | 58.74 |
60.01 - 65.00 | 59 | 23,804,946 | 14.34 | 9.433 | 586 | 64.43 |
65.01 - 70.00 | 88 | 22,092,016 | 13.31 | 9.535 | 590 | 66.75 |
70.01 - 75.00 | 89 | 20,627,162 | 12.43 | 8.342 | 622 | 70.81 |
75.01 - 80.00 | 218 | 48,717,234 | 29.35 | 7.120 | 634 | 76.79 |
80.01 - 85.00 | 30 | 4,543,054 | 2.74 | 8.142 | 587 | 78.81 |
85.01 - 90.00 | 61 | 9,751,383 | 5.88 | 8.208 | 591 | 86.94 |
90.01 - 95.00 | 49 | 6,436,913 | 3.88 | 8.756 | 625 | 86.05 |
95.01 - 100.00 | 152 | 9,445,545 | 5.69 | 9.593 | 615 | 98.50 |
100.01 or greater | 3 | 86,468 | 0.05 | 11.485 | 601 | 102.41 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Current Combined Loan-to-Value Ratio | ||||||
Current Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 47 | 9,796,426 | 5.90 | 8.038 | 673 | 38.77 |
50.01 - 55.00 | 21 | 4,662,916 | 2.81 | 7.735 | 632 | 50.50 |
55.01 - 60.00 | 28 | 6,225,445 | 3.75 | 9.263 | 595 | 61.19 |
60.01 - 65.00 | 65 | 24,707,815 | 14.89 | 9.312 | 592 | 63.79 |
65.01 - 70.00 | 88 | 22,760,899 | 13.71 | 9.433 | 593 | 65.92 |
70.01 - 75.00 | 89 | 21,163,120 | 12.75 | 8.267 | 625 | 71.55 |
75.01 - 80.00 | 209 | 45,570,492 | 27.46 | 7.198 | 630 | 77.49 |
80.01 - 85.00 | 30 | 5,535,491 | 3.34 | 7.829 | 593 | 78.98 |
85.01 - 90.00 | 62 | 9,996,765 | 6.02 | 8.176 | 588 | 86.05 |
90.01 - 95.00 | 47 | 5,714,874 | 3.44 | 8.690 | 629 | 87.73 |
95.01 - 100.00 | 151 | 9,547,627 | 5.75 | 9.638 | 614 | 98.67 |
100.01 or greater | 4 | 285,455 | 0.17 | 9.894 | 604 | 106.39 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
25
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Current Updated Combined Loan-to-Value Ratio | ||||||
Current Updated Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 77 | 18,170,930 | 10.95 | 7.295 | 693 | 39.82 |
50.01 - 55.00 | 28 | 6,093,052 | 3.67 | 7.805 | 632 | 52.54 |
55.01 - 60.00 | 32 | 7,729,341 | 4.66 | 9.075 | 611 | 58.64 |
60.01 - 65.00 | 70 | 24,116,320 | 14.53 | 9.433 | 586 | 64.05 |
65.01 - 70.00 | 84 | 21,314,166 | 12.84 | 9.539 | 576 | 68.81 |
70.01 - 75.00 | 82 | 18,405,871 | 11.09 | 8.490 | 600 | 73.97 |
75.01 - 80.00 | 162 | 36,103,927 | 21.75 | 7.374 | 636 | 79.29 |
80.01 - 85.00 | 52 | 9,391,655 | 5.66 | 7.679 | 581 | 82.71 |
85.01 - 90.00 | 50 | 8,259,546 | 4.98 | 8.090 | 611 | 89.04 |
90.01 - 95.00 | 41 | 4,119,360 | 2.48 | 8.336 | 635 | 94.25 |
95.01 - 100.00 | 134 | 8,935,519 | 5.38 | 9.480 | 616 | 99.48 |
100.01 or greater | 29 | 3,327,637 | 2.00 | 8.491 | 575 | 110.54 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
26
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
FICO Score | ||||||
FICO Score | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
399 or less | 2 | 196,854 | 0.12 | 10.086 | 396 | 65.22 |
400 - 424 | 5 | 264,008 | 0.16 | 9.542 | 416 | 72.15 |
425 - 449 | 13 | 2,187,011 | 1.32 | 8.575 | 438 | 76.47 |
450 - 474 | 47 | 6,237,002 | 3.76 | 9.967 | 464 | 76.32 |
475 - 499 | 79 | 11,611,816 | 7.00 | 10.127 | 487 | 73.62 |
500 - 524 | 80 | 14,644,221 | 8.82 | 9.710 | 510 | 73.66 |
525 - 549 | 67 | 13,889,080 | 8.37 | 9.538 | 537 | 68.44 |
550 - 574 | 62 | 10,001,243 | 6.03 | 9.794 | 559 | 73.80 |
575 - 599 | 85 | 14,866,996 | 8.96 | 8.552 | 587 | 74.81 |
600 - 624 | 75 | 16,642,202 | 10.03 | 8.620 | 613 | 71.91 |
625 - 649 | 52 | 12,838,659 | 7.74 | 8.585 | 633 | 75.63 |
650 - 674 | 57 | 14,938,095 | 9.00 | 7.168 | 661 | 71.91 |
675 - 699 | 71 | 13,882,003 | 8.36 | 7.404 | 687 | 74.10 |
700 - 724 | 54 | 10,377,208 | 6.25 | 7.565 | 712 | 73.35 |
725 - 749 | 27 | 5,478,328 | 3.30 | 6.665 | 736 | 70.24 |
750 - 774 | 29 | 6,781,657 | 4.09 | 6.421 | 762 | 66.33 |
775 - 799 | 24 | 6,862,692 | 4.13 | 5.940 | 786 | 56.00 |
800 or greater | 12 | 4,268,247 | 2.57 | 5.658 | 806 | 53.63 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
27
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Geographic Distribution* | ||||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | ||
California | 173 | 53,415,275 | 32.18 | 7.568 | 638 | 67.13 | ||
Florida | 162 | 28,272,019 | 17.03 | 10.356 | 549 | 70.43 | ||
New York | 32 | 14,068,669 | 8.48 | 9.034 | 616 | 67.57 | ||
Texas | 58 | 6,284,198 | 3.79 | 8.036 | 599 | 81.45 | ||
New Jersey | 19 | 6,029,375 | 3.63 | 8.609 | 620 | 81.08 | ||
Illinois | 29 | 5,969,633 | 3.60 | 7.009 | 680 | 75.41 | ||
Pennsylvania | 41 | 5,221,741 | 3.15 | 10.933 | 572 | 70.83 | ||
Ohio | 53 | 4,922,812 | 2.97 | 7.890 | 614 | 83.00 | ||
Colorado | 18 | 4,196,694 | 2.53 | 7.540 | 659 | 84.11 | ||
Nevada | 15 | 2,804,803 | 1.69 | 7.403 | 644 | 73.11 | ||
Michigan | 23 | 2,744,477 | 1.65 | 7.410 | 580 | 79.34 | ||
Massachusetts | 7 | 2,529,870 | 1.52 | 8.129 | 575 | 66.30 | ||
Virginia | 13 | 2,481,418 | 1.50 | 8.701 | 640 | 67.32 | ||
North Carolina | 21 | 2,422,564 | 1.46 | 7.873 | 613 | 79.69 | ||
South Carolina | 9 | 2,086,054 | 1.26 | 6.931 | 628 | 79.66 | ||
Arizona | 11 | 2,023,134 | 1.22 | 7.366 | 710 | 59.58 | ||
Missouri | 13 | 2,017,246 | 1.22 | 8.073 | 660 | 75.12 | ||
Washington | 12 | 1,781,617 | 1.07 | 7.422 | 618 | 64.28 | ||
Georgia | 12 | 1,719,402 | 1.04 | 7.480 | 573 | 78.27 | ||
Connecticut | 5 | 1,424,686 | 0.86 | 7.159 | 702 | 59.03 | ||
Maryland | 10 | 1,372,818 | 0.83 | 8.156 | 614 | 78.06 | ||
Louisiana | 12 | 1,157,883 | 0.70 | 7.658 | 602 | 80.42 | ||
Oregon | 6 | 1,046,152 | 0.63 | 8.026 | 600 | 74.72 | ||
Indiana | 8 | 934,467 | 0.56 | 8.753 | 628 | 89.85 | ||
Mississippi | 10 | 851,999 | 0.51 | 7.995 | 571 | 81.74 | ||
Hawaii | 2 | 823,614 | 0.50 | 8.118 | 692 | 69.72 | ||
Minnesota | 6 | 822,299 | 0.50 | 7.540 | 588 | 79.62 | ||
Idaho | 3 | 678,219 | 0.41 | 7.538 | 643 | 73.01 | ||
Tennessee | 9 | 649,520 | 0.39 | 8.541 | 588 | 80.15 | ||
Kansas | 5 | 609,328 | 0.37 | 7.166 | 590 | 87.79 | ||
Wisconsin | 5 | 568,052 | 0.34 | 9.070 | 617 | 87.10 | ||
Arkansas | 5 | 552,093 | 0.33 | 7.896 | 634 | 93.63 | ||
District of Columbia | 2 | 526,312 | 0.32 | 6.700 | 729 | 51.97 | ||
Rhode Island | 3 | 449,856 | 0.27 | 8.206 | 670 | 63.68 |
*Geographic Distribution continued on the next page
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
28
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Geographic Distribution (cont.) | |||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
Kentucky | 5 | 393,129 | 0.24 | 7.588 | 700 | 85.55 | |
Oklahoma | 5 | 337,614 | 0.20 | 8.508 | 568 | 78.97 | |
New Hampshire | 2 | 322,171 | 0.19 | 8.676 | 632 | 57.84 | |
Utah | 4 | 302,351 | 0.18 | 8.915 | 630 | 86.52 | |
Alabama | 3 | 282,037 | 0.17 | 8.168 | 573 | 84.92 | |
Montana | 2 | 204,957 | 0.12 | 7.663 | 660 | 60.66 | |
Iowa | 2 | 192,807 | 0.12 | 9.500 | 674 | 84.00 | |
New Mexico | 1 | 179,763 | 0.11 | 9.000 | 521 | 76.50 | |
Nebraska | 2 | 123,601 | 0.07 | 8.328 | 597 | 70.51 | |
Alaska | 1 | 78,630 | 0.05 | 11.250 | 673 | 52.42 | |
West Virginia | 1 | 55,886 | 0.03 | 10.450 | 467 | 80.00 | |
Maine | 1 | 36,080 | 0.02 | 8.125 | 519 | 48.11 | |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Occupancy Status | ||||||
Occupancy Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Primary | 722 | 150,731,360 | 90.82 | 8.406 | 611 | 71.72 |
Investment | 104 | 12,637,435 | 7.61 | 7.769 | 664 | 71.92 |
Second Home | 9 | 1,651,994 | 1.00 | 8.676 | 667 | 60.97 |
Non-Owner Occupied | 6 | 946,534 | 0.57 | 10.759 | 526 | 73.43 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
29
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Documentation Type | ||||||
Documentation Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Stated Documentation | 300 | 73,789,355 | 44.46 | 8.723 | 608 | 71.21 |
Full | 382 | 59,726,156 | 35.99 | 7.897 | 606 | 74.24 |
No Documentation | 110 | 22,770,827 | 13.72 | 8.886 | 641 | 65.03 |
Low | 15 | 3,150,973 | 1.90 | 6.646 | 724 | 79.82 |
No Ratio (NID) | 12 | 2,952,626 | 1.78 | 7.188 | 671 | 55.68 |
Alternative | 11 | 2,019,595 | 1.22 | 8.572 | 610 | 87.83 |
Stated Income Verified Assets | 11 | 1,557,792 | 0.94 | 8.116 | 621 | 81.35 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Loan Purpose | ||||||
Purpose | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Refinance - Cashout | 405 | 91,996,228 | 55.43 | 9.041 | 589 | 68.69 |
Purchase | 355 | 56,053,755 | 33.77 | 7.642 | 641 | 79.28 |
Refinance - Rate Term | 80 | 17,861,455 | 10.76 | 7.228 | 669 | 62.80 |
Debt Consolidation | 1 | 55,886 | 0.03 | 10.450 | 467 | 80.00 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Property Type | ||||||
Property Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Single Family Residence | 651 | 127,432,263 | 76.78 | 8.586 | 604 | 71.09 |
PUD | 76 | 14,971,799 | 9.02 | 7.616 | 654 | 71.23 |
2-4 Family | 67 | 14,367,369 | 8.66 | 7.780 | 656 | 76.32 |
Condo | 40 | 8,443,708 | 5.09 | 7.506 | 643 | 72.82 |
Townhouse | 5 | 559,988 | 0.34 | 9.031 | 592 | 70.45 |
Co-op | 1 | 123,753 | 0.07 | 6.625 | 703 | 49.50 |
Manufactured Housing | 1 | 68,443 | 0.04 | 9.375 | 570 | 95.06 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
30
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Next Rate Adjustment* | |||||||
Year & Month of Next Rate Adjustment | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2006-10 | 3 | 1,661,131 | 1.35 | 6.695 | 734 | 81.80 | |
2006-11 | 6 | 783,866 | 0.64 | 8.378 | 568 | 68.84 | |
2006-12 | 4 | 710,052 | 0.58 | 7.351 | 606 | 71.95 | |
2007-01 | 11 | 1,821,388 | 1.49 | 8.820 | 559 | 73.48 | |
2007-02 | 8 | 1,692,687 | 1.38 | 7.780 | 634 | 46.61 | |
2007-03 | 13 | 2,407,116 | 1.96 | 8.469 | 586 | 80.29 | |
2007-04 | 3 | 555,566 | 0.45 | 6.776 | 533 | 80.90 | |
2007-05 | 9 | 1,903,471 | 1.55 | 7.620 | 547 | 85.45 | |
2007-06 | 5 | 1,508,266 | 1.23 | 7.616 | 488 | 88.82 | |
2007-07 | 5 | 989,013 | 0.81 | 6.837 | 556 | 75.16 | |
2007-08 | 20 | 4,685,977 | 3.82 | 7.365 | 587 | 80.53 | |
2007-09 | 11 | 2,602,897 | 2.12 | 7.639 | 563 | 71.09 | |
2007-10 | 13 | 3,222,709 | 2.63 | 7.481 | 546 | 78.71 | |
2007-11 | 15 | 4,506,448 | 3.68 | 7.186 | 616 | 75.43 | |
2007-12 | 26 | 4,985,248 | 4.07 | 6.791 | 673 | 67.27 | |
2008-01 | 20 | 4,999,510 | 4.08 | 6.044 | 696 | 53.72 | |
2008-02 | 25 | 5,108,685 | 4.17 | 7.437 | 608 | 63.84 | |
2008-03 | 19 | 5,080,922 | 4.14 | 7.276 | 642 | 63.56 | |
2008-04 | 33 | 7,409,390 | 6.04 | 9.970 | 547 | 71.53 | |
2008-05 | 32 | 6,016,318 | 4.91 | 10.962 | 541 | 69.85 | |
2008-06 | 45 | 10,284,020 | 8.39 | 10.723 | 536 | 69.59 | |
2008-07 | 70 | 12,412,814 | 10.12 | 11.554 | 532 | 64.71 | |
2008-08 | 10 | 1,764,692 | 1.44 | 9.940 | 521 | 70.89 | |
2008-09 | 2 | 430,919 | 0.35 | 6.810 | 625 | 82.88 | |
2008-10 | 7 | 1,948,760 | 1.59 | 7.369 | 612 | 80.02 | |
2008-11 | 7 | 843,360 | 0.69 | 6.803 | 625 | 75.08 | |
2008-12 | 2 | 487,594 | 0.40 | 7.590 | 677 | 76.09 | |
2009-01 | 6 | 1,008,577 | 0.82 | 7.369 | 635 | 78.24 | |
2009-02 | 4 | 1,489,423 | 1.21 | 7.356 | 659 | 72.30 | |
2009-03 | 3 | 763,852 | 0.62 | 7.324 | 608 | 81.12 | |
2009-04 | 3 | 4,691,158 | 3.83 | 8.595 | 631 | 69.35 | |
2009-05 | 3 | 4,837,787 | 3.95 | 8.791 | 607 | 66.29 | |
2009-06 | 5 | 6,820,957 | 5.56 | 8.675 | 617 | 66.22 | |
2009-07 | 3 | 3,403,642 | 2.78 | 9.389 | 620 | 68.35 | |
2010-01 | 1 | 134,533 | 0.11 | 6.875 | 538 | 84.08 | |
2010-02 | 1 | 207,420 | 0.17 | 5.625 | 668 | 84.18 | |
2010-04 | 1 | 118,800 | 0.10 | 6.500 | 490 | 81.93 | |
2010-08 | 1 | 101,791 | 0.08 | 7.250 | 679 | 77.70 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
31
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Next Rate Adjustment (cont.)* | |||||||
Year & Month of Next Rate Adjustment | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2010-10 | 1 | 122,397 | 0.10 | 7.975 | 679 | 90.00 | |
2010-12 | 1 | 104,366 | 0.09 | 7.250 | 647 | 68.18 | |
2011-01 | 1 | 999,516 | 0.82 | 6.750 | 650 | 52.08 | |
2011-02 | 1 | 201,600 | 0.16 | 6.000 | 741 | 80.00 | |
2011-03 | 10 | 2,444,061 | 1.99 | 6.598 | 748 | 67.97 | |
2011-04 | 2 | 323,643 | 0.26 | 6.971 | 745 | 80.00 | |
2011-05 | 1 | 373,520 | 0.30 | 6.625 | 718 | 80.00 | |
2011-06 | 2 | 683,400 | 0.56 | 6.875 | 776 | 75.60 | |
2011-07 | 1 | 560,000 | 0.46 | 7.375 | 686 | 80.00 | |
2013-01 | 1 | 342,000 | 0.28 | 6.250 | 663 | 90.00 | |
2016-02 | 2 | 420,500 | 0.34 | 6.345 | 730 | 65.54 | |
2016-03 | 3 | 1,169,249 | 0.95 | 6.183 | 740 | 51.54 | |
2016-05 | 1 | 452,000 | 0.37 | 7.000 | 682 | 80.00 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
Gross Margin* | |||||||
Gross Margin (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2.000 - 2.499 | 31 | 9,683,985 | 7.90 | 6.493 | 711 | 68.42 | |
2.500 - 2.999 | 51 | 16,480,545 | 13.44 | 6.113 | 722 | 57.38 | |
3.000 - 3.499 | 4 | 763,675 | 0.62 | 7.443 | 635 | 56.44 | |
3.500 - 3.999 | 2 | 686,655 | 0.56 | 6.879 | 697 | 57.64 | |
4.000 - 4.499 | 8 | 1,311,813 | 1.07 | 7.445 | 617 | 82.52 | |
4.500 - 4.999 | 32 | 7,731,369 | 6.31 | 7.375 | 529 | 80.27 | |
5.000 - 5.499 | 29 | 22,669,359 | 18.49 | 9.036 | 605 | 66.44 | |
5.500 - 5.999 | 62 | 12,453,514 | 10.16 | 7.759 | 574 | 76.32 | |
6.000 - 6.499 | 50 | 12,147,172 | 9.91 | 9.361 | 590 | 71.00 | |
6.500 - 6.999 | 80 | 15,009,968 | 12.24 | 9.654 | 543 | 75.38 | |
7.000 - 7.499 | 108 | 19,789,688 | 16.14 | 11.092 | 520 | 68.55 | |
7.500 - 7.999 | 13 | 2,371,178 | 1.93 | 8.506 | 589 | 79.36 | |
8.000 - 8.499 | 8 | 1,072,494 | 0.87 | 7.660 | 567 | 83.41 | |
8.500 - 8.999 | 2 | 254,809 | 0.21 | 9.530 | 619 | 88.05 | |
9.000 - 9.499 | 1 | 122,459 | 0.10 | 9.450 | 622 | 91.11 | |
9.500 - 9.999 | 1 | 48,326 | 0.04 | 10.650 | 517 | 97.00 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
32
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Maximum Mortgage Rate* | |||||||
Maximum Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
8.000 - 8.499 | 1 | 163,671 | 0.13 | 7.500 | 689 | 81.18 | |
9.500 - 9.999 | 2 | 1,046,440 | 0.85 | 6.099 | 741 | 65.66 | |
10.500 - 10.999 | 5 | 2,101,252 | 1.71 | 4.939 | 774 | 45.61 | |
11.000 - 11.499 | 19 | 6,674,731 | 5.44 | 5.787 | 750 | 51.09 | |
11.500 - 11.999 | 24 | 7,014,343 | 5.72 | 5.915 | 666 | 63.13 | |
12.000 - 12.499 | 30 | 7,519,568 | 6.13 | 6.520 | 648 | 74.85 | |
12.500 - 12.999 | 38 | 10,977,082 | 8.95 | 6.870 | 619 | 71.37 | |
13.000 - 13.499 | 25 | 7,025,201 | 5.73 | 7.118 | 622 | 76.28 | |
13.500 - 13.999 | 45 | 10,072,223 | 8.22 | 7.800 | 577 | 81.76 | |
14.000 - 14.499 | 22 | 4,114,636 | 3.36 | 8.126 | 578 | 82.21 | |
14.500 - 14.999 | 34 | 17,171,281 | 14.01 | 8.696 | 601 | 70.50 | |
15.000 - 15.499 | 22 | 7,494,752 | 6.11 | 9.301 | 610 | 70.51 | |
15.500 - 15.999 | 29 | 7,553,990 | 6.16 | 9.732 | 552 | 71.93 | |
16.000 - 16.499 | 24 | 3,541,323 | 2.89 | 10.319 | 493 | 68.59 | |
16.500 - 16.999 | 33 | 6,457,817 | 5.27 | 10.887 | 535 | 70.50 | |
17.000 - 17.499 | 30 | 4,766,245 | 3.89 | 11.307 | 498 | 64.48 | |
17.500 - 17.999 | 54 | 10,147,564 | 8.28 | 11.678 | 534 | 63.48 | |
18.000 - 18.499 | 14 | 2,358,788 | 1.92 | 12.434 | 510 | 70.08 | |
18.500 - 18.999 | 20 | 4,031,005 | 3.29 | 12.228 | 558 | 62.91 | |
19.000 - 19.499 | 5 | 1,112,380 | 0.91 | 7.255 | 636 | 82.25 | |
19.500 - 19.999 | 6 | 1,252,716 | 1.02 | 7.875 | 601 | 75.53 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
33
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Minimum Mortgage Rate* | |||||||
Minimum Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2.000 - 2.499 | 19 | 4,996,304 | 4.08 | 6.058 | 714 | 63.86 | |
2.500 - 2.999 | 16 | 3,260,171 | 2.66 | 6.674 | 648 | 79.84 | |
3.000 - 3.499 | 1 | 132,000 | 0.11 | 8.625 | 651 | 105.60 | |
4.000 - 4.499 | 1 | 283,300 | 0.23 | 8.875 | 730 | 79.99 | |
4.500 - 4.999 | 4 | 2,080,604 | 1.70 | 4.706 | 784 | 44.91 | |
5.000 - 5.499 | 9 | 3,575,166 | 2.92 | 5.117 | 762 | 43.78 | |
5.500 - 5.999 | 13 | 3,907,901 | 3.19 | 5.736 | 668 | 53.06 | |
6.000 - 6.499 | 20 | 6,682,252 | 5.45 | 6.397 | 625 | 75.88 | |
6.500 - 6.999 | 41 | 12,349,200 | 10.07 | 6.753 | 628 | 75.35 | |
7.000 - 7.499 | 27 | 7,428,206 | 6.06 | 7.260 | 630 | 75.08 | |
7.500 - 7.999 | 48 | 10,572,084 | 8.62 | 7.760 | 575 | 81.18 | |
8.000 - 8.499 | 30 | 5,361,059 | 4.37 | 8.940 | 599 | 72.57 | |
8.500 - 8.999 | 34 | 17,419,171 | 14.21 | 8.678 | 604 | 69.67 | |
9.000 - 9.499 | 19 | 6,904,590 | 5.63 | 9.140 | 614 | 71.30 | |
9.500 - 9.999 | 29 | 7,456,751 | 6.08 | 9.806 | 556 | 72.19 | |
10.000 - 10.499 | 118 | 20,541,330 | 16.76 | 11.482 | 509 | 67.82 | |
10.500 - 10.999 | 14 | 1,848,893 | 1.51 | 10.938 | 524 | 69.63 | |
11.000 - 11.499 | 4 | 694,960 | 0.57 | 11.213 | 527 | 59.60 | |
11.500 - 11.999 | 28 | 5,296,306 | 4.32 | 11.745 | 546 | 59.73 | |
12.000 - 12.499 | 2 | 343,173 | 0.28 | 12.221 | 556 | 68.91 | |
12.500 - 12.999 | 5 | 1,463,589 | 1.19 | 12.990 | 533 | 54.35 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
Initial Periodic Rate Cap* | ||||||
Initial Periodic Cap (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.001 - 1.000 | 46 | 10,187,500 | 8.31 | 7.292 | 612 | 66.42 |
1.001 - 2.000 | 101 | 26,226,159 | 21.39 | 8.038 | 620 | 65.77 |
2.001 - 3.000 | 152 | 47,899,515 | 39.07 | 8.041 | 602 | 74.36 |
4.001 - 5.000 | 170 | 33,044,947 | 26.95 | 10.489 | 557 | 66.43 |
5.001 - 6.000 | 11 | 4,276,721 | 3.49 | 6.897 | 686 | 72.78 |
9.001 - 10.000 | 1 | 559,668 | 0.46 | 7.163 | 695 | 80.00 |
12.001 - 13.000 | 1 | 402,500 | 0.33 | 6.250 | 809 | 70.00 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
34
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Subsequent Periodic Rate Cap* | ||||||
Initial Periodic Cap (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1.000 - 1.999 | 291 | 78,168,445 | 63.76 | 8.179 | 593 | 73.28 |
2.000 - 2.999 | 187 | 43,271,508 | 35.30 | 9.300 | 608 | 63.25 |
3.000 - 3.999 | 3 | 597,388 | 0.49 | 11.957 | 549 | 55.45 |
9.000 - 9.999 | 1 | 559,668 | 0.46 | 7.163 | 695 | 80.00 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Lifetime Periodic Cap* | ||||||
Lifetime Periodic Cap (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.500 - 0.999 | 1 | 163,671 | 0.13 | 7.500 | 689 | 81.18 |
1.000 - 1.499 | 1 | 1,374,962 | 1.12 | 8.625 | 547 | 60.84 |
2.000 - 2.499 | 1 | 48,591 | 0.04 | 11.875 | 718 | 69.42 |
2.500 - 2.999 | 1 | 559,668 | 0.46 | 7.163 | 695 | 80.00 |
3.000 - 3.499 | 2 | 275,893 | 0.23 | 8.250 | 637 | 60.69 |
3.500 - 3.999 | 1 | 95,537 | 0.08 | 9.875 | 703 | 65.89 |
4.000 - 4.499 | 6 | 1,251,991 | 1.02 | 8.066 | 704 | 35.21 |
4.500 - 4.999 | 4 | 1,544,874 | 1.26 | 7.017 | 749 | 86.34 |
5.000 - 5.499 | 17 | 4,282,454 | 3.49 | 6.395 | 722 | 61.44 |
5.500 - 5.999 | 2 | 553,766 | 0.45 | 8.149 | 742 | 52.05 |
6.000 - 6.499 | 410 | 105,328,218 | 85.91 | 8.760 | 589 | 69.64 |
6.500 - 6.999 | 3 | 494,911 | 0.40 | 8.584 | 528 | 98.08 |
7.000 - 7.499 | 20 | 3,735,305 | 3.05 | 8.660 | 569 | 79.77 |
8.000 - 8.499 | 2 | 180,171 | 0.15 | 10.990 | 463 | 66.74 |
11.500 - 11.999 | 1 | 209,236 | 0.17 | 5.800 | 630 | 76.95 |
12.500 - 12.999 | 10 | 2,497,762 | 2.04 | 6.697 | 662 | 78.23 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
35
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE TOTAL COLLATERAL |
Original Prepayment Charge Term | ||||||
Original Prepayment Charge Term (mos.) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0 | 422 | 87,945,528 | 52.99 | 7.508 | 659 | 69.91 |
12 | 28 | 6,707,925 | 4.04 | 10.237 | 592 | 69.01 |
24 | 296 | 52,224,972 | 31.47 | 9.787 | 543 | 73.52 |
36 | 85 | 17,848,351 | 10.75 | 7.863 | 614 | 75.62 |
60 | 10 | 1,240,547 | 0.75 | 7.586 | 690 | 71.62 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Lien Position | ||||||
Lien Position | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1st Lien | 665 | 156,666,568 | 94.40 | 8.250 | 614 | 70.19 |
2nd Lien | 176 | 9,300,756 | 5.60 | 10.453 | 635 | 96.06 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
Loan Status | ||||||
Loan Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Active | 792 | 157,721,723 | 95.03 | 8.390 | 620 | 71.20 |
Forbearance | 32 | 6,152,456 | 3.71 | 7.901 | 515 | 81.34 |
Bankruptcy | 17 | 2,093,145 | 1.26 | 8.547 | 514 | 76.11 |
Total: | 841 | 165,967,323 | 100.00 | 8.374 | 615 | 71.64 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
36
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
SUMMARY - FIXED RATE POOL |
Number of Mortgage Loans | 359 | |||
Aggregate Principal Balance | $ 43,370,314 | Property Type: | ||
Average Original Principal Balance | $123,008 | Single Family Residence: | 68.58% | |
Average Current Principal Balance | $120,809 | 2-4 Family: | 16.38% | |
Range: | $2,036-$969,672 | PUD: | 7.69% | |
W.A. Coupon: | 7.768% | Condo: | 6.90% | |
Range: | 4.500%-14.125% | Co-Op: | 0.29% | |
W.A. Remaining Term (months): | 312 | Manufactured Housing: | 0.16% | |
Range: | 8-358 | Other: | 0.00% | |
W.A. Seasoning (months): | 16 | |||
Latest Maturity Date: | July 1, 2036 | Occupancy Status: | ||
State Concentration (Top 5): | Primary: | 82.27% | ||
California: | 23.16% | Investment: | 17.11% | |
Florida: | 7.98% | Second Home: | 0.62% | |
Illinois: | 7.18% | |||
Texas: | 6.91% | |||
New York: | 6.84% | Cashflow Velocity: | ||
Non-Zero W.A. Current Combined LTV: | 78.93% | 1 Month: | 97.91% | |
Range: | 3.11%-107.62% | 3 Month: | 110.85% | |
W.A. Current Updated Combined LTV(1): | 77.16% | 5 Month: | 101.94% | |
Range: | 2.11%-122.76% | |||
First Liens: | 78.56% | Non-Zero W.A. Prepayment Penalty - Term (months): | 32 | |
Second Liens : | 21.44% | Loans with Prepay Penalties: | 20.93% | |
Non-Balloon Loans: | 84.65% | Loans with Primary Mortgage Insurance | 6.99% | |
W.A. FICO Score(2): | 662 | |||
Loans in Bankruptcy: | 0.62% | |||
Delinquency(3): | ||||
Current: | 95.24% | |||
30-59 Days: | 4.76% | |||
60+ Days: | 0.00% |
1. Current Updated CLTV’s are calculated by taking the original CLTV for those loans seasoned 11 months or less and an updated CLTV for those loans seasoned 12 months or more. Updated CLTV’s for those loans seasoned 12 months or more are calculated by taking the UPB as of the Cut-off date plus the senior balance, in the case of second liens, divided by an updated BPO value. Updated CLTV’s were calculated for 29.99% of the Mortgage Loans. An updated CLTV was not calculated for 70.01% of the Mortgage Loans.
2. The Weighted Average FICO score was calculated by taking an updated FICO score for those loans seasoned more than 6 months and/or with previous delinquencies beyond 90 days (65.39% of the Mortgage Loans by balance) and the FICO score at origination for the remaining mortgage loans (34.61% of the Mortgage Loans by balance).
3. Based on the terms of the original mortgage note, modification, bankruptcy plan or forbearance plan as may be applicable as of the Cutoff Date.
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
37
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Collateral Type | ||||||
Collateral Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Fixed Rate | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Days Delinquent | ||||||
Days Delinquent | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0 - 29 | 322 | 41,304,620 | 95.24 | 7.632 | 667 | 76.96 |
30 - 59 | 37 | 2,065,693 | 4.76 | 10.493 | 572 | 81.26 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Principal Balance at Origination | ||||||
Principal Balance at Origination ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50,000.00 | 118 | 3,602,211 | 8.31 | 10.573 | 590 | 91.20 |
50,000.01 - 100,000.00 | 109 | 7,680,888 | 17.71 | 9.407 | 646 | 83.38 |
100,000.01 - 150,000.00 | 46 | 5,592,908 | 12.90 | 8.231 | 636 | 80.79 |
150,000.01 - 200,000.00 | 29 | 4,828,566 | 11.13 | 7.152 | 665 | 75.89 |
200,000.01 - 250,000.00 | 14 | 3,158,187 | 7.28 | 7.258 | 659 | 80.34 |
250,000.01 - 300,000.00 | 6 | 1,599,913 | 3.69 | 6.928 | 665 | 69.01 |
300,000.01 - 350,000.00 | 11 | 3,573,916 | 8.24 | 6.884 | 698 | 75.81 |
350,000.01 - 400,000.00 | 4 | 1,484,453 | 3.42 | 6.808 | 610 | 72.27 |
400,000.01 - 450,000.00 | 8 | 3,372,664 | 7.78 | 6.520 | 687 | 75.98 |
450,000.01 - 500,000.00 | 5 | 2,341,116 | 5.40 | 6.437 | 685 | 60.74 |
500,000.01 - 550,000.00 | 2 | 1,027,714 | 2.37 | 7.610 | 659 | 65.71 |
550,000.01 - 600,000.00 | 2 | 1,149,418 | 2.65 | 7.027 | 772 | 65.65 |
600,000.01 - 650,000.00 | 2 | 1,244,515 | 2.87 | 4.918 | 722 | 75.34 |
800,000.01 - 850,000.00 | 1 | 816,938 | 1.88 | 6.375 | 765 | 49.70 |
900,000.01 - 950,000.00 | 1 | 927,235 | 2.14 | 5.375 | 753 | 73.88 |
950,000.01 - 1,000,000.00 | 1 | 969,672 | 2.24 | 8.250 | 621 | 75.00 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
38
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Remaining Principal Balance | ||||||
Remaining Principal Balance ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50,000.00 | 121 | 3,681,296 | 8.49 | 10.541 | 597 | 89.56 |
50,000.01 - 100,000.00 | 107 | 7,685,722 | 17.72 | 9.407 | 644 | 83.31 |
100,000.01 - 150,000.00 | 48 | 5,928,255 | 13.67 | 8.113 | 635 | 82.14 |
150,000.01 - 200,000.00 | 26 | 4,402,419 | 10.15 | 7.052 | 673 | 73.42 |
200,000.01 - 250,000.00 | 14 | 3,165,068 | 7.30 | 7.451 | 651 | 82.38 |
250,000.01 - 300,000.00 | 7 | 1,888,041 | 4.35 | 7.244 | 657 | 65.81 |
300,000.01 - 350,000.00 | 10 | 3,285,788 | 7.58 | 6.698 | 706 | 78.25 |
350,000.01 - 400,000.00 | 4 | 1,484,453 | 3.42 | 6.808 | 610 | 72.27 |
400,000.01 - 450,000.00 | 9 | 3,822,503 | 8.81 | 6.591 | 683 | 74.96 |
450,000.01 - 500,000.00 | 4 | 1,891,276 | 4.36 | 6.273 | 693 | 59.18 |
500,000.01 - 550,000.00 | 2 | 1,027,714 | 2.37 | 7.610 | 659 | 65.71 |
550,000.01 - 600,000.00 | 3 | 1,744,300 | 4.02 | 6.464 | 778 | 70.13 |
600,000.01 - 650,000.00 | 1 | 649,633 | 1.50 | 4.500 | 660 | 72.18 |
800,000.01 - 850,000.00 | 1 | 816,938 | 1.88 | 6.375 | 765 | 49.70 |
900,000.01 - 950,000.00 | 1 | 927,235 | 2.14 | 5.375 | 753 | 73.88 |
950,000.01 - 1,000,000.00 | 1 | 969,672 | 2.24 | 8.250 | 621 | 75.00 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Remaining Term | ||||||
Remaining Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1 - 60 | 3 | 20,237 | 0.05 | 11.808 | 727 | 19.06 |
61 - 120 | 10 | 470,619 | 1.09 | 8.683 | 618 | 46.98 |
121 - 180 | 111 | 6,798,697 | 15.68 | 9.650 | 668 | 89.58 |
181 - 240 | 6 | 677,818 | 1.56 | 7.539 | 715 | 62.45 |
241 - 300 | 19 | 2,628,181 | 6.06 | 9.553 | 661 | 56.10 |
301 - 360 | 210 | 32,774,762 | 75.57 | 7.223 | 660 | 77.05 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
39
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Seasoning | ||||||
Seasoning (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1 - 12 | 268 | 32,054,494 | 73.91 | 7.870 | 664 | 81.02 |
13 - 24 | 44 | 5,977,362 | 13.78 | 6.810 | 660 | 79.18 |
25 - 36 | 1 | 50,546 | 0.12 | 7.375 | 435 | 95.37 |
37 - 48 | 7 | 941,495 | 2.17 | 6.405 | 634 | 55.32 |
49 - 60 | 5 | 1,332,422 | 3.07 | 6.827 | 667 | 41.58 |
61 - 120 | 32 | 2,914,215 | 6.72 | 9.422 | 654 | 55.90 |
121 - 180 | 1 | 83,918 | 0.19 | 9.125 | 704 | 12.91 |
301 - 360 | 1 | 15,862 | 0.04 | 11.750 | 782 | 2.11 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
40
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Mortgage Rate | ||||||
Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
4.500 - 4.999 | 1 | 649,633 | 1.50 | 4.500 | 660 | 72.18 |
5.000 - 5.499 | 10 | 3,621,961 | 8.35 | 5.309 | 755 | 69.08 |
5.500 - 5.999 | 14 | 3,334,985 | 7.69 | 5.597 | 706 | 64.32 |
6.000 - 6.499 | 20 | 4,718,463 | 10.88 | 6.227 | 706 | 73.47 |
6.500 - 6.999 | 34 | 6,447,047 | 14.87 | 6.710 | 674 | 73.28 |
7.000 - 7.499 | 20 | 3,812,594 | 8.79 | 7.203 | 628 | 75.12 |
7.500 - 7.999 | 24 | 3,968,404 | 9.15 | 7.653 | 646 | 79.54 |
8.000 - 8.499 | 19 | 2,910,643 | 6.71 | 8.150 | 634 | 80.25 |
8.500 - 8.999 | 20 | 2,910,257 | 6.71 | 8.625 | 689 | 70.01 |
9.000 - 9.499 | 21 | 1,724,256 | 3.98 | 9.182 | 624 | 75.78 |
9.500 - 9.999 | 37 | 2,062,079 | 4.75 | 9.709 | 601 | 87.47 |
10.000 - 10.499 | 29 | 1,766,545 | 4.07 | 10.214 | 624 | 93.48 |
10.500 - 10.999 | 29 | 1,579,705 | 3.64 | 10.755 | 618 | 95.45 |
11.000 - 11.499 | 22 | 1,135,492 | 2.62 | 11.250 | 600 | 84.41 |
11.500 - 11.999 | 28 | 1,397,663 | 3.22 | 11.717 | 578 | 92.22 |
12.000 - 12.499 | 15 | 776,880 | 1.79 | 12.272 | 626 | 93.81 |
12.500 - 12.999 | 10 | 429,004 | 0.99 | 12.852 | 621 | 94.32 |
13.000 - 13.499 | 2 | 32,420 | 0.07 | 13.148 | 559 | 101.56 |
13.500 - 13.999 | 3 | 65,058 | 0.15 | 13.531 | 657 | 101.08 |
14.000 - 14.499 | 1 | 27,225 | 0.06 | 14.125 | 700 | 60.50 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
41
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Original Combined Loan-to-Value Ratio | ||||||
Original Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 17 | 2,360,085 | 5.44 | 6.603 | 729 | 36.41 |
50.01 - 55.00 | 8 | 1,320,961 | 3.05 | 6.148 | 702 | 51.76 |
55.01 - 60.00 | 6 | 1,552,587 | 3.58 | 5.860 | 666 | 62.33 |
60.01 - 65.00 | 5 | 618,663 | 1.43 | 7.476 | 659 | 55.57 |
65.01 - 70.00 | 20 | 3,536,843 | 8.15 | 7.315 | 662 | 64.84 |
70.01 - 75.00 | 23 | 6,156,382 | 14.19 | 6.898 | 688 | 71.52 |
75.01 - 80.00 | 66 | 12,022,320 | 27.72 | 6.948 | 682 | 77.01 |
80.01 - 85.00 | 11 | 1,368,487 | 3.16 | 8.591 | 523 | 79.73 |
85.01 - 90.00 | 25 | 2,648,557 | 6.11 | 8.845 | 642 | 90.06 |
90.01 - 95.00 | 31 | 2,953,594 | 6.81 | 9.177 | 664 | 84.63 |
95.01 - 100.00 | 144 | 8,745,366 | 20.16 | 9.641 | 619 | 98.25 |
100.01 or greater | 3 | 86,468 | 0.20 | 11.485 | 601 | 102.41 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Current Combined Loan-to-Value Ratio | ||||||
Current Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 19 | 2,506,064 | 5.78 | 6.615 | 723 | 36.08 |
50.01 - 55.00 | 8 | 1,302,227 | 3.00 | 6.191 | 729 | 49.96 |
55.01 - 60.00 | 7 | 1,598,140 | 3.68 | 5.936 | 661 | 67.70 |
60.01 - 65.00 | 10 | 908,544 | 2.09 | 7.565 | 668 | 61.40 |
65.01 - 70.00 | 21 | 3,932,522 | 9.07 | 7.499 | 648 | 61.16 |
70.01 - 75.00 | 21 | 6,043,310 | 13.93 | 6.720 | 693 | 73.44 |
75.01 - 80.00 | 63 | 11,601,423 | 26.75 | 6.996 | 679 | 77.50 |
80.01 - 85.00 | 8 | 1,083,093 | 2.50 | 8.480 | 525 | 83.59 |
85.01 - 90.00 | 25 | 2,873,279 | 6.62 | 8.798 | 639 | 85.59 |
90.01 - 95.00 | 31 | 2,568,570 | 5.92 | 9.008 | 672 | 87.46 |
95.01 - 100.00 | 142 | 8,667,687 | 19.99 | 9.715 | 619 | 98.33 |
100.01 or greater | 4 | 285,455 | 0.66 | 9.894 | 604 | 106.39 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
42
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Current Updated Combined Loan-to-Value Ratio | ||||||
Current Updated Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 29 | 4,286,364 | 9.88 | 7.416 | 693 | 36.50 |
50.01 - 55.00 | 9 | 1,540,058 | 3.55 | 6.185 | 697 | 52.33 |
55.01 - 60.00 | 5 | 1,631,884 | 3.76 | 7.067 | 701 | 57.96 |
60.01 - 65.00 | 11 | 1,230,618 | 2.84 | 7.243 | 649 | 62.35 |
65.01 - 70.00 | 18 | 2,933,219 | 6.76 | 7.357 | 635 | 68.51 |
70.01 - 75.00 | 20 | 6,455,197 | 14.88 | 6.556 | 691 | 73.74 |
75.01 - 80.00 | 54 | 9,540,470 | 22.00 | 6.970 | 690 | 79.34 |
80.01 - 85.00 | 18 | 1,950,946 | 4.50 | 8.409 | 551 | 83.12 |
85.01 - 90.00 | 29 | 2,971,170 | 6.85 | 8.830 | 638 | 89.41 |
90.01 - 95.00 | 27 | 1,978,095 | 4.56 | 8.817 | 684 | 94.64 |
95.01 - 100.00 | 124 | 7,939,251 | 18.31 | 9.578 | 622 | 99.61 |
100.01 or greater | 15 | 913,041 | 2.11 | 9.436 | 603 | 107.91 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
43
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
FICO Score | ||||||
FICO Score | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
400 - 424 | 3 | 70,124 | 0.16 | 10.322 | 420 | 66.93 |
425 - 449 | 3 | 105,828 | 0.24 | 9.530 | 437 | 97.79 |
450 - 474 | 13 | 1,153,405 | 2.66 | 9.196 | 460 | 89.09 |
475 - 499 | 21 | 1,005,079 | 2.32 | 9.648 | 490 | 83.52 |
500 - 524 | 15 | 1,024,241 | 2.36 | 9.304 | 513 | 85.98 |
525 - 549 | 13 | 1,513,188 | 3.49 | 7.794 | 536 | 74.28 |
550 - 574 | 20 | 1,266,093 | 2.92 | 8.845 | 565 | 90.89 |
575 - 599 | 36 | 2,967,426 | 6.84 | 8.423 | 587 | 82.94 |
600 - 624 | 46 | 5,337,523 | 12.31 | 8.612 | 614 | 73.92 |
625 - 649 | 36 | 3,762,791 | 8.68 | 8.721 | 637 | 90.28 |
650 - 674 | 29 | 4,858,540 | 11.20 | 7.397 | 661 | 75.19 |
675 - 699 | 36 | 4,601,080 | 10.61 | 7.450 | 690 | 71.23 |
700 - 724 | 33 | 4,959,022 | 11.43 | 7.874 | 713 | 80.54 |
725 - 749 | 15 | 2,379,528 | 5.49 | 6.662 | 737 | 73.92 |
750 - 774 | 20 | 4,310,164 | 9.94 | 6.410 | 760 | 71.49 |
775 - 799 | 16 | 3,429,025 | 7.91 | 6.425 | 786 | 68.18 |
800 or greater | 4 | 627,258 | 1.45 | 6.033 | 805 | 61.64 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
44
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Geographic Distribution* | |||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
California | 65 | 10,045,070 | 23.16 | 7.952 | 671 | 72.48 | |
Florida | 32 | 3,460,318 | 7.98 | 8.160 | 649 | 85.67 | |
Illinois | 18 | 3,113,840 | 7.18 | 6.550 | 726 | 79.02 | |
Texas | 32 | 2,997,271 | 6.91 | 8.580 | 603 | 82.99 | |
New York | 17 | 2,965,313 | 6.84 | 7.439 | 644 | 72.15 | |
Ohio | 34 | 2,866,320 | 6.61 | 7.774 | 626 | 81.38 | |
Michigan | 16 | 1,693,652 | 3.91 | 6.965 | 632 | 73.97 | |
North Carolina | 13 | 1,513,464 | 3.49 | 7.394 | 640 | 70.19 | |
Virginia | 7 | 1,429,219 | 3.30 | 7.644 | 687 | 59.18 | |
Missouri | 10 | 1,406,157 | 3.24 | 7.611 | 711 | 73.69 | |
Colorado | 10 | 1,354,126 | 3.12 | 6.541 | 673 | 87.88 | |
New Jersey | 9 | 1,324,742 | 3.05 | 7.807 | 719 | 91.81 | |
Arizona | 5 | 812,433 | 1.87 | 9.185 | 762 | 66.34 | |
Connecticut | 2 | 774,518 | 1.79 | 6.123 | 706 | 77.23 | |
Louisiana | 8 | 767,366 | 1.77 | 6.763 | 634 | 79.75 | |
Indiana | 5 | 741,110 | 1.71 | 8.802 | 639 | 92.85 | |
Pennsylvania | 7 | 691,255 | 1.59 | 7.654 | 726 | 73.06 | |
Massachusetts | 3 | 650,662 | 1.50 | 6.628 | 702 | 74.38 | |
Mississippi | 6 | 594,485 | 1.37 | 7.763 | 576 | 79.73 | |
Nevada | 7 | 508,882 | 1.17 | 10.240 | 662 | 93.53 | |
Kansas | 3 | 376,088 | 0.87 | 7.013 | 610 | 81.79 | |
Rhode Island | 2 | 335,123 | 0.77 | 7.643 | 710 | 68.51 | |
Utah | 4 | 302,351 | 0.70 | 8.915 | 630 | 86.52 | |
Washington | 6 | 301,122 | 0.69 | 11.529 | 557 | 81.66 | |
Oregon | 3 | 289,037 | 0.67 | 7.907 | 545 | 80.69 | |
Arkansas | 2 | 240,932 | 0.56 | 6.250 | 735 | 80.00 | |
Georgia | 6 | 219,535 | 0.51 | 9.135 | 625 | 84.76 | |
Wisconsin | 2 | 208,664 | 0.48 | 9.093 | 651 | 84.43 | |
New Hampshire | 1 | 168,958 | 0.39 | 6.750 | 695 | 51.67 | |
Alabama | 1 | 145,537 | 0.34 | 8.000 | 576 | 85.61 | |
Hawaii | 1 | 144,256 | 0.33 | 5.375 | 765 | 21.28 | |
South Carolina | 3 | 141,966 | 0.33 | 10.420 | 574 | 98.54 | |
Oklahoma | 3 | 117,418 | 0.27 | 9.583 | 557 | 77.72 | |
Tennessee | 3 | 104,775 | 0.24 | 8.399 | 541 | 75.24 |
*Geographic Distribution continued on the next page
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
45
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Geographic Distribution (cont.) | |||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
Minnesota | 2 | 95,571 | 0.22 | 10.233 | 588 | 67.32 | |
Maryland | 2 | 82,197 | 0.19 | 11.801 | 677 | 100.00 | |
Kentucky | 3 | 79,421 | 0.18 | 10.025 | 592 | 87.29 | |
Alaska | 1 | 78,630 | 0.18 | 11.250 | 673 | 52.42 | |
Nebraska | 1 | 71,297 | 0.16 | 6.375 | 720 | 79.12 | |
Montana | 1 | 47,701 | 0.11 | 7.375 | 612 | 80.00 | |
Iowa | 1 | 38,574 | 0.09 | 11.300 | 674 | 100.00 | |
Maine | 1 | 36,080 | 0.08 | 8.125 | 519 | 48.11 | |
Idaho | 1 | 34,876 | 0.08 | 10.700 | 495 | 82.62 | |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
46
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Occupancy Status | ||||||
Occupancy Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Primary | 291 | 35,682,244 | 82.27 | 7.803 | 660 | 77.99 |
Investment | 64 | 7,352,435 | 16.95 | 7.535 | 671 | 73.38 |
Second Home | 3 | 268,444 | 0.62 | 8.981 | 698 | 67.65 |
Non-Owner Occupied | 1 | 67,190 | 0.15 | 10.000 | 481 | 90.00 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Documentation Type | ||||||
Documentation Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Full | 168 | 17,003,657 | 39.21 | 7.838 | 625 | 78.04 |
Stated Documentation | 114 | 15,026,177 | 34.65 | 8.039 | 667 | 76.68 |
No Documentation | 50 | 8,026,356 | 18.51 | 6.998 | 718 | 75.84 |
Low | 10 | 1,777,537 | 4.10 | 6.910 | 731 | 74.54 |
Stated Income Verified Assets | 6 | 603,191 | 1.39 | 8.557 | 702 | 82.42 |
Alternative | 8 | 565,041 | 1.30 | 9.731 | 609 | 92.86 |
No Ratio (NID) | 3 | 368,356 | 0.85 | 10.096 | 646 | 65.66 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
47
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Loan Purpose | ||||||
Purpose | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Purchase | 205 | 22,310,477 | 51.44 | 8.062 | 674 | 83.64 |
Refinance - Cashout | 117 | 14,973,253 | 34.52 | 7.766 | 638 | 72.66 |
Refinance - Rate Term | 37 | 6,086,583 | 14.03 | 6.694 | 679 | 64.50 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Property Type | ||||||
Property Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Single Family Residence | 263 | 29,742,336 | 68.58 | 7.920 | 654 | 76.21 |
2-4 Family | 41 | 7,105,033 | 16.38 | 7.265 | 667 | 81.60 |
PUD | 35 | 3,337,095 | 7.69 | 8.798 | 686 | 80.71 |
Condo | 18 | 2,993,654 | 6.90 | 6.307 | 701 | 72.90 |
Co-op | 1 | 123,753 | 0.29 | 6.625 | 703 | 49.50 |
Manufactured Housing | 1 | 68,443 | 0.16 | 9.375 | 570 | 95.06 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
48
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE FIXED RATE COLLATERAL |
Original Prepayment Charge Term | ||||||
Original Prepayment Charge Term (mos.) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0 | 257 | 34,293,666 | 79.07 | 7.481 | 675 | 74.72 |
12 | 8 | 944,173 | 2.18 | 9.180 | 641 | 86.43 |
24 | 48 | 3,032,425 | 6.99 | 9.815 | 648 | 95.40 |
36 | 38 | 4,240,757 | 9.78 | 8.302 | 565 | 82.80 |
60 | 8 | 859,292 | 1.98 | 7.807 | 680 | 72.52 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Lien Position | ||||||
Lien Position | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1st Lien | 183 | 34,069,558 | 78.56 | 7.035 | 669 | 72.01 |
2nd Lien | 176 | 9,300,756 | 21.44 | 10.453 | 635 | 96.06 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
Loan Status | ||||||
Loan Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Active | 347 | 41,845,320 | 96.48 | 7.753 | 668 | 77.00 |
Forbearance | 9 | 1,256,047 | 2.90 | 8.287 | 502 | 84.90 |
Bankruptcy | 3 | 268,947 | 0.62 | 7.695 | 551 | 66.03 |
Total: | 359 | 43,370,314 | 100.00 | 7.768 | 662 | 77.16 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
49
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
SUMMARY - ADJUSTABLE RATE POOL |
Number of Mortgage Loans: | 482 | Index Type: | ||
Aggregate Principal Balance: | $122,597,009 | 1 Year Treasury: | 0.25% | |
Average Original Principal Balance:: | $256,888 | 6 Month LIBOR: | 89.13% | |
Average Current Principal Balance: | $254,351 | 1 Month LIBOR | 0.46% | |
Range: | $33,915-$3,900,000 | Other: | 10.16% | |
W.A. Coupon: | 8.588% | W.A. Initial Periodic Cap(3): | 3.323% | |
Range: | 4.500%-13.990% | W.A. Subsequent Periodic Cap: | 1.441% | |
W.A. Gross Margin: | 5.270% | W.A. Lifetime Rate Cap: | 6.025% | |
Range: | 2.100%-9.650% | Property Type: | ||
W.A. Remaining Term (months): | 350 | Single Family: | 79.68% | |
Range: | 262-469 | PUD: | 9.49% | |
W.A. Seasoning (months): | 12 | 2 - 4 Family: | 5.92% | |
Latest Maturity Date: | October 1, 2045 | Condo: | 4.45% | |
State Concentration (Top 5): | Other: | 0.46% | ||
California: | 35.38% | Occupancy Status: | ||
Florida: | 20.24% | Primary: | 93.84% | |
New York: | 9.06% | Investment: | 5.03% | |
New Jersey: | 3.84% | Second Home: | 1.13% | |
Pennsylvania: | 3.70% | Cashflow Velocity: | ||
Non-Zero W.A. Current Combined LTV: | 71.47% | 1 Month: | 101.16 | |
Range: | 15.01%-99.92% | 3 Month: | 106.18 | |
W.A. Current Updated Combined LTV(1): | 69.68% | 5 Month: | 101.62 | |
Range: | 11.48%-124.70% | Non-Zero W.A. Prepayment Penalty - Term (months): | 26 | |
First Liens: | 100.00% | Loans with Prepay Penalties: | 56.24% | |
Second Liens: | 0.00% | Loans with Primary Mortgage Insurance | 1.55% | |
Non-Balloon Loans: | 89.18% | |||
Non-Zero Current W.A. FICO Score(2): | 599 | |||
Loans in Bankruptcy: | 1.49% | |||
Delinquency(4): | ||||
Current: | 89.88% | |||
30-59 Days: | 9.62% | |||
60+ Days: | 0.51% |
1. Current Updated CLTV’s are calculated by taking the original CLTV for those loans seasoned 11 months or less and an updated CLTV for those loans seasoned 12 months or more. Updated CLTV’s for those loans seasoned 12 months or more are calculated by taking the UPB as of the Cut-off date plus the senior balance, in the case of second liens, divided by an updated BPO value. Updated CLTV’s were calculated for 28.64% of the Mortgage Loans. An updated CLTV was not calculated for 71.36% of the Mortgage Loans.
2. The Weighted Average FICO score was calculated by taking an updated FICO score for those loans seasoned more than 6 months and/or with previous delinquencies beyond 90 days (51.70% of the Mortgage Loans by balance) and the FICO score at origination for the remaining mortgage loans (48.30% of the Mortgage Loans by balance).
3. The Weighted Average Initial Periodic Cap was calculated by taking the Initial Periodic Cap for those loans that have not yet reset and the Subsequent Periodic Cap for those loans that have already reset.
4. Based on the terms of the original mortgage note, modification, bankruptcy plan or forbearance plan as may be applicable as of the Cutoff Date.
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
50
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Collateral Type | ||||||
Collateral Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
ARM | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Days Delinquent | ||||||
Days Delinquent | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0 - 29 | 423 | 110,186,775 | 89.88 | 8.531 | 606 | 69.20 |
30 - 59 | 52 | 11,789,041 | 9.62 | 9.098 | 535 | 73.72 |
60 - 89 | 1 | 33,915 | 0.03 | 11.375 | 589 | 84.79 |
90 - 119 | 1 | 62,527 | 0.05 | 10.500 | 589 | 93.67 |
120 or greater | 5 | 524,750 | 0.43 | 8.720 | 530 | 77.06 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Principal Balance at Origination | ||||||
Principal Balance at Origination ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50,000.00 | 8 | 336,923 | 0.27 | 8.591 | 590 | 82.80 |
50,000.01 - 100,000.00 | 79 | 6,311,579 | 5.15 | 9.125 | 568 | 76.99 |
100,000.01 - 150,000.00 | 109 | 13,612,962 | 11.10 | 9.904 | 548 | 72.92 |
150,000.01 - 200,000.00 | 81 | 14,011,549 | 11.43 | 9.738 | 552 | 69.94 |
200,000.01 - 250,000.00 | 58 | 12,785,755 | 10.43 | 9.230 | 566 | 71.54 |
250,000.01 - 300,000.00 | 33 | 9,127,200 | 7.44 | 8.942 | 580 | 68.40 |
300,000.01 - 350,000.00 | 27 | 8,782,263 | 7.16 | 7.601 | 606 | 73.03 |
350,000.01 - 400,000.00 | 27 | 9,851,401 | 8.04 | 7.342 | 648 | 66.75 |
400,000.01 - 450,000.00 | 15 | 6,278,702 | 5.12 | 7.728 | 614 | 66.67 |
450,000.01 - 500,000.00 | 11 | 5,177,532 | 4.22 | 8.079 | 603 | 74.64 |
500,000.01 - 550,000.00 | 5 | 2,618,527 | 2.14 | 7.014 | 674 | 74.50 |
550,000.01 - 600,000.00 | 9 | 5,033,707 | 4.11 | 7.107 | 680 | 66.63 |
600,000.01 - 650,000.00 | 3 | 1,805,649 | 1.47 | 5.698 | 690 | 55.46 |
650,000.01 - 700,000.00 | 1 | 679,358 | 0.55 | 8.700 | 677 | 80.00 |
750,000.01 - 800,000.00 | 2 | 1,554,334 | 1.27 | 6.675 | 550 | 80.00 |
800,000.01 - 850,000.00 | 2 | 1,650,646 | 1.35 | 9.507 | 592 | 61.94 |
850,000.01 - 900,000.00 | 1 | 805,587 | 0.66 | 6.625 | 803 | 81.37 |
950,000.01 - 1,000,000.00 | 2 | 1,935,095 | 1.58 | 5.662 | 726 | 46.78 |
1,000,000.01 or greater | 9 | 20,238,239 | 16.51 | 8.863 | 614 | 66.50 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
51
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Remaining Principal Balance | ||||||
Remaining Principal Balance ($) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50,000.00 | 10 | 434,901 | 0.35 | 9.132 | 596 | 78.91 |
50,000.01 - 100,000.00 | 77 | 6,213,601 | 5.07 | 9.095 | 567 | 77.17 |
100,000.01 - 150,000.00 | 110 | 13,742,962 | 11.21 | 9.867 | 551 | 72.76 |
150,000.01 - 200,000.00 | 81 | 14,011,549 | 11.43 | 9.738 | 552 | 69.94 |
200,000.01 - 250,000.00 | 58 | 12,785,755 | 10.43 | 9.230 | 566 | 71.54 |
250,000.01 - 300,000.00 | 33 | 9,127,200 | 7.44 | 8.942 | 580 | 68.40 |
300,000.01 - 350,000.00 | 28 | 9,118,880 | 7.44 | 7.561 | 608 | 73.37 |
350,000.01 - 400,000.00 | 26 | 9,770,074 | 7.97 | 7.331 | 645 | 65.79 |
400,000.01 - 450,000.00 | 15 | 6,341,892 | 5.17 | 7.834 | 609 | 66.51 |
450,000.01 - 500,000.00 | 11 | 5,215,825 | 4.25 | 7.819 | 622 | 74.21 |
500,000.01 - 550,000.00 | 7 | 3,750,266 | 3.06 | 6.494 | 701 | 62.94 |
550,000.01 - 600,000.00 | 7 | 4,002,361 | 3.26 | 7.821 | 646 | 76.21 |
600,000.01 - 650,000.00 | 2 | 1,218,484 | 0.99 | 5.251 | 687 | 53.90 |
650,000.01 - 700,000.00 | 1 | 679,358 | 0.55 | 8.700 | 677 | 80.00 |
750,000.01 - 800,000.00 | 2 | 1,554,334 | 1.27 | 6.675 | 550 | 80.00 |
800,000.01 - 850,000.00 | 3 | 2,456,234 | 2.00 | 8.562 | 661 | 68.31 |
900,000.01 - 950,000.00 | 1 | 935,579 | 0.76 | 4.500 | 808 | 41.12 |
950,000.01 - 1,000,000.00 | 1 | 999,516 | 0.82 | 6.750 | 650 | 52.08 |
1,000,000.01 or greater | 9 | 20,238,239 | 16.51 | 8.863 | 614 | 66.50 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Remaining Term | ||||||
Remaining Term (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
241 - 300 | 7 | 616,883 | 0.50 | 10.692 | 552 | 62.90 |
301 - 360 | 470 | 120,245,760 | 98.08 | 8.593 | 600 | 69.56 |
361 or more | 5 | 1,734,367 | 1.41 | 7.492 | 532 | 80.45 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
52
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Seasoning | ||||||
Seasoning (months) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1 - 12 | 353 | 90,663,010 | 73.95 | 9.206 | 585 | 70.71 |
13 - 24 | 73 | 15,764,550 | 12.86 | 7.084 | 559 | 80.70 |
25 - 36 | 3 | 296,655 | 0.24 | 9.356 | 499 | 105.11 |
37 - 48 | 41 | 14,720,067 | 12.01 | 6.285 | 725 | 51.71 |
49 - 60 | 5 | 535,844 | 0.44 | 8.787 | 673 | 54.19 |
61 - 120 | 7 | 616,883 | 0.50 | 10.692 | 552 | 62.90 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Mortgage Rate | ||||||
Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
4.500 - 4.999 | 4 | 2,080,604 | 1.70 | 4.706 | 784 | 44.91 |
5.000 - 5.499 | 10 | 3,723,265 | 3.04 | 5.113 | 761 | 44.46 |
5.500 - 5.999 | 22 | 6,389,923 | 5.21 | 5.720 | 664 | 58.79 |
6.000 - 6.499 | 31 | 9,089,576 | 7.41 | 6.244 | 652 | 75.05 |
6.500 - 6.999 | 46 | 13,794,777 | 11.25 | 6.733 | 633 | 74.77 |
7.000 - 7.499 | 29 | 7,923,890 | 6.46 | 7.176 | 634 | 74.28 |
7.500 - 7.999 | 48 | 10,849,926 | 8.85 | 7.717 | 580 | 81.28 |
8.000 - 8.499 | 27 | 4,855,161 | 3.96 | 8.242 | 619 | 71.57 |
8.500 - 8.999 | 39 | 18,083,279 | 14.75 | 8.683 | 606 | 70.37 |
9.000 - 9.499 | 19 | 6,904,590 | 5.63 | 9.140 | 614 | 71.30 |
9.500 - 9.999 | 29 | 7,456,751 | 6.08 | 9.806 | 556 | 72.19 |
10.000 - 10.499 | 28 | 4,039,987 | 3.30 | 10.301 | 490 | 69.89 |
10.500 - 10.999 | 38 | 7,026,326 | 5.73 | 10.933 | 530 | 70.25 |
11.000 - 11.499 | 26 | 4,079,072 | 3.33 | 11.428 | 497 | 66.01 |
11.500 - 11.999 | 52 | 9,805,711 | 8.00 | 11.829 | 532 | 62.16 |
12.000 - 12.499 | 15 | 2,776,005 | 2.26 | 12.425 | 522 | 67.15 |
12.500 - 12.999 | 17 | 3,448,334 | 2.81 | 12.990 | 534 | 61.89 |
13.000 - 13.499 | 1 | 99,828 | 0.08 | 13.490 | 484 | 70.00 |
13.500 - 13.999 | 1 | 170,006 | 0.14 | 13.990 | 492 | 70.00 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
53
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Original Combined Loan-to-Value Ratio | ||||||
Original Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 27 | 7,160,362 | 5.84 | 8.573 | 653 | 39.40 |
50.01 - 55.00 | 12 | 3,039,506 | 2.48 | 8.672 | 577 | 51.83 |
55.01 - 60.00 | 22 | 5,029,101 | 4.10 | 9.963 | 592 | 57.63 |
60.01 - 65.00 | 54 | 23,186,282 | 18.91 | 9.485 | 584 | 64.67 |
65.01 - 70.00 | 68 | 18,555,173 | 15.14 | 9.958 | 577 | 67.12 |
70.01 - 75.00 | 66 | 14,470,779 | 11.80 | 8.957 | 594 | 70.50 |
75.01 - 80.00 | 152 | 36,694,914 | 29.93 | 7.176 | 618 | 76.71 |
80.01 - 85.00 | 19 | 3,174,567 | 2.59 | 7.949 | 614 | 78.41 |
85.01 - 90.00 | 36 | 7,102,826 | 5.79 | 7.970 | 572 | 85.78 |
90.01 - 95.00 | 18 | 3,483,320 | 2.84 | 8.400 | 592 | 87.24 |
95.01 - 100.00 | 8 | 700,179 | 0.57 | 8.994 | 575 | 101.69 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Current Combined Loan-to-Value Ratio | ||||||
Current Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 28 | 7,290,362 | 5.95 | 8.528 | 655 | 39.69 |
50.01 - 55.00 | 13 | 3,360,689 | 2.74 | 8.333 | 595 | 50.71 |
55.01 - 60.00 | 21 | 4,627,305 | 3.77 | 10.412 | 573 | 58.95 |
60.01 - 65.00 | 55 | 23,799,271 | 19.41 | 9.379 | 589 | 63.88 |
65.01 - 70.00 | 67 | 18,828,377 | 15.36 | 9.837 | 581 | 66.91 |
70.01 - 75.00 | 68 | 15,119,810 | 12.33 | 8.885 | 598 | 70.80 |
75.01 - 80.00 | 146 | 33,969,068 | 27.71 | 7.267 | 613 | 77.49 |
80.01 - 85.00 | 22 | 4,452,398 | 3.63 | 7.671 | 609 | 77.86 |
85.01 - 90.00 | 37 | 7,123,486 | 5.81 | 7.924 | 567 | 86.24 |
90.01 - 95.00 | 16 | 3,146,304 | 2.57 | 8.431 | 593 | 87.95 |
95.01 - 100.00 | 9 | 879,940 | 0.72 | 8.877 | 560 | 102.02 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
54
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Current Updated Combined Loan-to-Value Ratio | ||||||
Current Updated Combined Loan-to-Value Ratio (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.01 - 50.00 | 48 | 13,884,566 | 11.33 | 7.258 | 693 | 40.84 |
50.01 - 55.00 | 19 | 4,552,993 | 3.71 | 8.353 | 610 | 52.61 |
55.01 - 60.00 | 27 | 6,097,457 | 4.97 | 9.612 | 588 | 58.82 |
60.01 - 65.00 | 59 | 22,885,702 | 18.67 | 9.551 | 582 | 64.14 |
65.01 - 70.00 | 66 | 18,380,947 | 14.99 | 9.887 | 567 | 68.85 |
70.01 - 75.00 | 62 | 11,950,674 | 9.75 | 9.535 | 551 | 74.09 |
75.01 - 80.00 | 108 | 26,563,458 | 21.67 | 7.519 | 616 | 79.27 |
80.01 - 85.00 | 34 | 7,440,709 | 6.07 | 7.487 | 589 | 82.60 |
85.01 - 90.00 | 21 | 5,288,376 | 4.31 | 7.674 | 595 | 88.83 |
90.01 - 95.00 | 14 | 2,141,265 | 1.75 | 7.892 | 589 | 93.90 |
95.01 - 100.00 | 10 | 996,267 | 0.81 | 8.702 | 565 | 98.40 |
100.01 or greater | 14 | 2,414,596 | 1.97 | 8.133 | 564 | 111.54 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
55
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
FICO Score | ||||||
FICO Score | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
399 or less | 2 | 196,854 | 0.16 | 10.086 | 396 | 65.22 |
400 - 424 | 2 | 193,884 | 0.16 | 9.260 | 415 | 74.03 |
425 - 449 | 10 | 2,081,183 | 1.70 | 8.526 | 438 | 75.39 |
450 - 474 | 34 | 5,083,596 | 4.15 | 10.143 | 465 | 73.42 |
475 - 499 | 58 | 10,606,738 | 8.65 | 10.173 | 487 | 72.68 |
500 - 524 | 65 | 13,619,980 | 11.11 | 9.740 | 510 | 72.74 |
525 - 549 | 54 | 12,375,892 | 10.09 | 9.751 | 538 | 67.73 |
550 - 574 | 42 | 8,735,150 | 7.13 | 9.932 | 558 | 71.33 |
575 - 599 | 49 | 11,899,570 | 9.71 | 8.584 | 587 | 72.79 |
600 - 624 | 29 | 11,304,678 | 9.22 | 8.623 | 612 | 70.96 |
625 - 649 | 16 | 9,075,869 | 7.40 | 8.529 | 632 | 69.56 |
650 - 674 | 28 | 10,079,555 | 8.22 | 7.058 | 661 | 70.33 |
675 - 699 | 35 | 9,280,923 | 7.57 | 7.382 | 686 | 75.52 |
700 - 724 | 21 | 5,418,186 | 4.42 | 7.281 | 711 | 66.77 |
725 - 749 | 12 | 3,098,801 | 2.53 | 6.668 | 735 | 67.42 |
750 - 774 | 9 | 2,471,493 | 2.02 | 6.441 | 766 | 57.31 |
775 - 799 | 8 | 3,433,667 | 2.80 | 5.455 | 786 | 43.84 |
800 or greater | 8 | 3,640,990 | 2.97 | 5.593 | 807 | 52.25 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
56
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Geographic Distribution* | |||||||
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
California | 108 | 43,370,205 | 35.38 | 7.480 | 630 | 65.89 | |
Florida | 130 | 24,811,701 | 20.24 | 10.662 | 535 | 68.30 | |
New York | 15 | 11,103,356 | 9.06 | 9.460 | 609 | 66.35 | |
New Jersey | 10 | 4,704,633 | 3.84 | 8.835 | 592 | 78.06 | |
Pennsylvania | 34 | 4,530,486 | 3.70 | 11.433 | 548 | 70.49 | |
Texas | 26 | 3,286,927 | 2.68 | 7.539 | 596 | 80.05 | |
Illinois | 11 | 2,855,793 | 2.33 | 7.509 | 629 | 71.47 | |
Colorado | 8 | 2,842,568 | 2.32 | 8.016 | 652 | 82.31 | |
Nevada | 8 | 2,295,921 | 1.87 | 6.774 | 640 | 68.58 | |
Ohio | 19 | 2,056,492 | 1.68 | 8.051 | 597 | 85.26 | |
South Carolina | 6 | 1,944,089 | 1.59 | 6.676 | 631 | 78.28 | |
Massachusetts | 4 | 1,879,207 | 1.53 | 8.649 | 531 | 63.50 | |
Georgia | 6 | 1,499,867 | 1.22 | 7.237 | 566 | 77.32 | |
Washington | 6 | 1,480,495 | 1.21 | 6.587 | 631 | 60.75 | |
Maryland | 8 | 1,290,621 | 1.05 | 7.924 | 610 | 76.66 | |
Arizona | 6 | 1,210,701 | 0.99 | 6.146 | 674 | 55.04 | |
Virginia | 6 | 1,052,199 | 0.86 | 10.137 | 575 | 78.38 | |
Michigan | 7 | 1,050,825 | 0.86 | 8.127 | 496 | 87.99 | |
North Carolina | 8 | 909,099 | 0.74 | 8.670 | 568 | 95.52 | |
Oregon | 3 | 757,115 | 0.62 | 8.072 | 621 | 72.44 | |
Minnesota | 4 | 726,728 | 0.59 | 7.186 | 588 | 81.24 | |
Hawaii | 1 | 679,358 | 0.55 | 8.700 | 677 | 80.00 | |
Connecticut | 3 | 650,168 | 0.53 | 8.394 | 698 | 37.34 | |
Idaho | 2 | 643,342 | 0.52 | 7.366 | 651 | 72.49 | |
Missouri | 3 | 611,089 | 0.50 | 9.134 | 542 | 78.41 | |
Tennessee | 6 | 544,744 | 0.44 | 8.568 | 598 | 81.10 |
*Geographic Distribution continued on the next page
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
57
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Geographic Distribution (cont.) |
Location | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
District of Columbia | 2 | 526,312 | 0.43 | 6.700 | 729 | 51.97 |
Louisiana | 4 | 390,517 | 0.32 | 9.417 | 538 | 81.72 |
Wisconsin | 3 | 359,388 | 0.29 | 9.057 | 597 | 88.65 |
Kentucky | 2 | 313,709 | 0.26 | 6.971 | 728 | 85.11 |
Arkansas | 3 | 311,160 | 0.25 | 9.170 | 555 | 104.18 |
Mississippi | 4 | 257,513 | 0.21 | 8.532 | 561 | 86.38 |
Kansas | 2 | 233,240 | 0.19 | 7.414 | 558 | 97.48 |
Oklahoma | 2 | 220,196 | 0.18 | 7.935 | 575 | 79.63 |
Indiana | 3 | 193,357 | 0.16 | 8.563 | 587 | 78.36 |
New Mexico | 1 | 179,763 | 0.15 | 9.000 | 521 | 76.50 |
Montana | 1 | 157,255 | 0.13 | 7.750 | 674 | 54.79 |
Iowa | 1 | 154,232 | 0.13 | 9.050 | 674 | 80.00 |
New Hampshire | 1 | 153,213 | 0.12 | 10.800 | 563 | 64.65 |
Alabama | 2 | 136,501 | 0.11 | 8.348 | 570 | 84.18 |
Rhode Island | 1 | 114,733 | 0.09 | 9.850 | 553 | 49.57 |
West Virginia | 1 | 55,886 | 0.05 | 10.450 | 467 | 80.00 |
Nebraska | 1 | 52,305 | 0.04 | 10.990 | 429 | 58.77 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Occupancy Status | ||||||
Occupancy Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Primary | 431 | 115,049,116 | 93.84 | 8.594 | 596 | 69.77 |
Investment | 40 | 5,284,999 | 4.31 | 8.094 | 654 | 69.89 |
Second Home | 6 | 1,383,550 | 1.13 | 8.617 | 661 | 59.68 |
Non-Owner Occupied | 5 | 879,344 | 0.72 | 10.817 | 530 | 72.17 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
58
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Documentation Type | ||||||
Documentation Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Stated Documentation | 186 | 58,763,178 | 47.93 | 8.897 | 593 | 69.82 |
Full | 214 | 42,722,499 | 34.85 | 7.921 | 599 | 72.72 |
No Documentation | 60 | 14,744,471 | 12.03 | 9.914 | 599 | 59.15 |
No Ratio (NID) | 9 | 2,584,270 | 2.11 | 6.774 | 675 | 54.25 |
Alternative | 3 | 1,454,554 | 1.19 | 8.122 | 610 | 85.87 |
Low | 5 | 1,373,436 | 1.12 | 6.304 | 714 | 86.65 |
Stated Income Verified Assets | 5 | 954,601 | 0.78 | 7.837 | 569 | 80.68 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Loan Purpose | ||||||
Purpose | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Refinance - Cashout | 288 | 77,022,974 | 62.83 | 9.289 | 580 | 67.92 |
Purchase | 150 | 33,743,278 | 27.52 | 7.365 | 619 | 76.39 |
Refinance - Rate Term | 43 | 11,774,871 | 9.60 | 7.504 | 664 | 61.92 |
Debt Consolidation | 1 | 55,886 | 0.05 | 10.450 | 467 | 80.00 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
59
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Property Type | ||||||
Property Type | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Single Family Residence | 388 | 97,689,927 | 79.68 | 8.788 | 589 | 69.53 |
PUD | 41 | 11,634,704 | 9.49 | 7.278 | 645 | 68.52 |
2-4 Family | 26 | 7,262,335 | 5.92 | 8.283 | 645 | 71.16 |
Condo | 22 | 5,450,055 | 4.45 | 8.164 | 611 | 72.78 |
Townhouse | 5 | 559,988 | 0.46 | 9.031 | 592 | 70.45 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Next Rate Adjustment* | |||||||
Month & Year of Next Rate Adjustment | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2006-10 | 3 | 1,661,131 | 1.35 | 6.695 | 734 | 81.80 | |
2006-11 | 6 | 783,866 | 0.64 | 8.378 | 568 | 68.84 | |
2006-12 | 4 | 710,052 | 0.58 | 7.351 | 606 | 71.95 | |
2007-01 | 11 | 1,821,388 | 1.49 | 8.820 | 559 | 73.48 | |
2007-02 | 8 | 1,692,687 | 1.38 | 7.780 | 634 | 46.61 | |
2007-03 | 13 | 2,407,116 | 1.96 | 8.469 | 586 | 80.29 | |
2007-04 | 3 | 555,566 | 0.45 | 6.776 | 533 | 80.90 | |
2007-05 | 9 | 1,903,471 | 1.55 | 7.620 | 547 | 85.45 | |
2007-06 | 5 | 1,508,266 | 1.23 | 7.616 | 488 | 88.82 | |
2007-07 | 5 | 989,013 | 0.81 | 6.837 | 556 | 75.16 | |
2007-08 | 20 | 4,685,977 | 3.82 | 7.365 | 587 | 80.53 | |
2007-09 | 11 | 2,602,897 | 2.12 | 7.639 | 563 | 71.09 | |
2007-10 | 13 | 3,222,709 | 2.63 | 7.481 | 546 | 78.71 | |
2007-11 | 15 | 4,506,448 | 3.68 | 7.186 | 616 | 75.43 | |
2007-12 | 26 | 4,985,248 | 4.07 | 6.791 | 673 | 67.27 | |
2008-01 | 20 | 4,999,510 | 4.08 | 6.044 | 696 | 53.72 | |
2008-02 | 25 | 5,108,685 | 4.17 | 7.437 | 608 | 63.84 | |
2008-03 | 19 | 5,080,922 | 4.14 | 7.276 | 642 | 63.56 | |
2008-04 | 33 | 7,409,390 | 6.04 | 9.970 | 547 | 71.53 | |
2008-05 | 32 | 6,016,318 | 4.91 | 10.962 | 541 | 69.85 | |
2008-06 | 45 | 10,284,020 | 8.39 | 10.723 | 536 | 69.59 | |
2008-07 | 70 | 12,412,814 | 10.12 | 11.554 | 532 | 64.71 | |
2008-08 | 10 | 1,764,692 | 1.44 | 9.940 | 521 | 70.89 | |
2008-09 | 2 | 430,919 | 0.35 | 6.810 | 625 | 82.88 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
60
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Next Rate Adjustment (cont.)* | |||||||
Month & Year of Next Rate Adjustment | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2008-10 | 7 | 1,948,760 | 1.59 | 7.369 | 612 | 80.02 | |
2008-11 | 7 | 843,360 | 0.69 | 6.803 | 625 | 75.08 | |
2008-12 | 2 | 487,594 | 0.40 | 7.590 | 677 | 76.09 | |
2009-01 | 6 | 1,008,577 | 0.82 | 7.369 | 635 | 78.24 | |
2009-02 | 4 | 1,489,423 | 1.21 | 7.356 | 659 | 72.30 | |
2009-03 | 3 | 763,852 | 0.62 | 7.324 | 608 | 81.12 | |
2009-04 | 3 | 4,691,158 | 3.83 | 8.595 | 631 | 69.35 | |
2009-05 | 3 | 4,837,787 | 3.95 | 8.791 | 607 | 66.29 | |
2009-06 | 5 | 6,820,957 | 5.56 | 8.675 | 617 | 66.22 | |
2009-07 | 3 | 3,403,642 | 2.78 | 9.389 | 620 | 68.35 | |
2010-01 | 1 | 134,533 | 0.11 | 6.875 | 538 | 84.08 | |
2010-02 | 1 | 207,420 | 0.17 | 5.625 | 668 | 84.18 | |
2010-04 | 1 | 118,800 | 0.10 | 6.500 | 490 | 81.93 | |
2010-08 | 1 | 101,791 | 0.08 | 7.250 | 679 | 77.70 | |
2010-10 | 1 | 122,397 | 0.10 | 7.975 | 679 | 90.00 | |
2010-12 | 1 | 104,366 | 0.09 | 7.250 | 647 | 68.18 | |
2011-01 | 1 | 999,516 | 0.82 | 6.750 | 650 | 52.08 | |
2011-02 | 1 | 201,600 | 0.16 | 6.000 | 741 | 80.00 | |
2011-03 | 10 | 2,444,061 | 1.99 | 6.598 | 748 | 67.97 | |
2011-04 | 2 | 323,643 | 0.26 | 6.971 | 745 | 80.00 | |
2011-05 | 1 | 373,520 | 0.30 | 6.625 | 718 | 80.00 | |
2011-06 | 2 | 683,400 | 0.56 | 6.875 | 776 | 75.60 | |
2011-07 | 1 | 560,000 | 0.46 | 7.375 | 686 | 80.00 | |
2013-01 | 1 | 342,000 | 0.28 | 6.250 | 663 | 90.00 | |
2016-02 | 2 | 420,500 | 0.34 | 6.345 | 730 | 65.54 | |
2016-03 | 3 | 1,169,249 | 0.95 | 6.183 | 740 | 51.54 | |
2016-05 | 1 | 452,000 | 0.37 | 7.000 | 682 | 80.00 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
61
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Gross Margin* | |||||||
Gross Margin (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2.000 - 2.499 | 31 | 9,683,985 | 7.90 | 6.493 | 711 | 68.42 | |
2.500 - 2.999 | 51 | 16,480,545 | 13.44 | 6.113 | 722 | 57.38 | |
3.000 - 3.499 | 4 | 763,675 | 0.62 | 7.443 | 635 | 56.44 | |
3.500 - 3.999 | 2 | 686,655 | 0.56 | 6.879 | 697 | 57.64 | |
4.000 - 4.499 | 8 | 1,311,813 | 1.07 | 7.445 | 617 | 82.52 | |
4.500 - 4.999 | 32 | 7,731,369 | 6.31 | 7.375 | 529 | 80.27 | |
5.000 - 5.499 | 29 | 22,669,359 | 18.49 | 9.036 | 605 | 66.44 | |
5.500 - 5.999 | 62 | 12,453,514 | 10.16 | 7.759 | 574 | 76.32 | |
6.000 - 6.499 | 50 | 12,147,172 | 9.91 | 9.361 | 590 | 71.00 | |
6.500 - 6.999 | 80 | 15,009,968 | 12.24 | 9.654 | 543 | 75.38 | |
7.000 - 7.499 | 108 | 19,789,688 | 16.14 | 11.092 | 520 | 68.55 | |
7.500 - 7.999 | 13 | 2,371,178 | 1.93 | 8.506 | 589 | 79.36 | |
8.000 - 8.499 | 8 | 1,072,494 | 0.87 | 7.660 | 567 | 83.41 | |
8.500 - 8.999 | 2 | 254,809 | 0.21 | 9.530 | 619 | 88.05 | |
9.000 - 9.499 | 1 | 122,459 | 0.10 | 9.450 | 622 | 91.11 | |
9.500 - 9.999 | 1 | 48,326 | 0.04 | 10.650 | 517 | 97.00 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
62
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Maximum Mortgage Rate* | |||||||
Maximum Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
8.000 - 8.499 | 1 | 163,671 | 0.13 | 7.500 | 689 | 81.18 | |
9.500 - 9.999 | 2 | 1,046,440 | 0.85 | 6.099 | 741 | 65.66 | |
10.500 - 10.999 | 5 | 2,101,252 | 1.71 | 4.939 | 774 | 45.61 | |
11.000 - 11.499 | 19 | 6,674,731 | 5.44 | 5.787 | 750 | 51.09 | |
11.500 - 11.999 | 24 | 7,014,343 | 5.72 | 5.915 | 666 | 63.13 | |
12.000 - 12.499 | 30 | 7,519,568 | 6.13 | 6.520 | 648 | 74.85 | |
12.500 - 12.999 | 38 | 10,977,082 | 8.95 | 6.870 | 619 | 71.37 | |
13.000 - 13.499 | 25 | 7,025,201 | 5.73 | 7.118 | 622 | 76.28 | |
13.500 - 13.999 | 45 | 10,072,223 | 8.22 | 7.800 | 577 | 81.76 | |
14.000 - 14.499 | 22 | 4,114,636 | 3.36 | 8.126 | 578 | 82.21 | |
14.500 - 14.999 | 34 | 17,171,281 | 14.01 | 8.696 | 601 | 70.50 | |
15.000 - 15.499 | 22 | 7,494,752 | 6.11 | 9.301 | 610 | 70.51 | |
15.500 - 15.999 | 29 | 7,553,990 | 6.16 | 9.732 | 552 | 71.93 | |
16.000 - 16.499 | 24 | 3,541,323 | 2.89 | 10.319 | 493 | 68.59 | |
16.500 - 16.999 | 33 | 6,457,817 | 5.27 | 10.887 | 535 | 70.50 | |
17.000 - 17.499 | 30 | 4,766,245 | 3.89 | 11.307 | 498 | 64.48 | |
17.500 - 17.999 | 54 | 10,147,564 | 8.28 | 11.678 | 534 | 63.48 | |
18.000 - 18.499 | 14 | 2,358,788 | 1.92 | 12.434 | 510 | 70.08 | |
18.500 - 18.999 | 20 | 4,031,005 | 3.29 | 12.228 | 558 | 62.91 | |
19.000 - 19.499 | 5 | 1,112,380 | 0.91 | 7.255 | 636 | 82.25 | |
19.500 - 19.999 | 6 | 1,252,716 | 1.02 | 7.875 | 601 | 75.53 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
63
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Minimum Mortgage Rate* | |||||||
Minimum Mortgage Rate (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) | |
2.000 - 2.499 | 19 | 4,996,304 | 4.08 | 6.058 | 714 | 63.86 | |
2.500 - 2.999 | 16 | 3,260,171 | 2.66 | 6.674 | 648 | 79.84 | |
3.000 - 3.499 | 1 | 132,000 | 0.11 | 8.625 | 651 | 105.60 | |
4.000 - 4.499 | 1 | 283,300 | 0.23 | 8.875 | 730 | 79.99 | |
4.500 - 4.999 | 4 | 2,080,604 | 1.70 | 4.706 | 784 | 44.91 | |
5.000 - 5.499 | 9 | 3,575,166 | 2.92 | 5.117 | 762 | 43.78 | |
5.500 - 5.999 | 13 | 3,907,901 | 3.19 | 5.736 | 668 | 53.06 | |
6.000 - 6.499 | 20 | 6,682,252 | 5.45 | 6.397 | 625 | 75.88 | |
6.500 - 6.999 | 41 | 12,349,200 | 10.07 | 6.753 | 628 | 75.35 | |
7.000 - 7.499 | 27 | 7,428,206 | 6.06 | 7.260 | 630 | 75.08 | |
7.500 - 7.999 | 48 | 10,572,084 | 8.62 | 7.760 | 575 | 81.18 | |
8.000 - 8.499 | 30 | 5,361,059 | 4.37 | 8.940 | 599 | 72.57 | |
8.500 - 8.999 | 34 | 17,419,171 | 14.21 | 8.678 | 604 | 69.67 | |
9.000 - 9.499 | 19 | 6,904,590 | 5.63 | 9.140 | 614 | 71.30 | |
9.500 - 9.999 | 29 | 7,456,751 | 6.08 | 9.806 | 556 | 72.19 | |
10.000 - 10.499 | 118 | 20,541,330 | 16.76 | 11.482 | 509 | 67.82 | |
10.500 - 10.999 | 14 | 1,848,893 | 1.51 | 10.938 | 524 | 69.63 | |
11.000 - 11.499 | 4 | 694,960 | 0.57 | 11.213 | 527 | 59.60 | |
11.500 - 11.999 | 28 | 5,296,306 | 4.32 | 11.745 | 546 | 59.73 | |
12.000 - 12.499 | 2 | 343,173 | 0.28 | 12.221 | 556 | 68.91 | |
12.500 - 12.999 | 5 | 1,463,589 | 1.19 | 12.990 | 533 | 54.35 | |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
64
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Initial Periodic Rate Cap* | ||||||
Initial Periodic Cap (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.001 - 1.000 | 46 | 10,187,500 | 8.31 | 7.292 | 612 | 66.42 |
1.001 - 2.000 | 101 | 26,226,159 | 21.39 | 8.038 | 620 | 65.77 |
2.001 - 3.000 | 152 | 47,899,515 | 39.07 | 8.041 | 602 | 74.36 |
4.001 - 5.000 | 170 | 33,044,947 | 26.95 | 10.489 | 557 | 66.43 |
5.001 - 6.000 | 11 | 4,276,721 | 3.49 | 6.897 | 686 | 72.78 |
9.001 - 10.000 | 1 | 559,668 | 0.46 | 7.163 | 695 | 80.00 |
12.001 - 13.000 | 1 | 402,500 | 0.33 | 6.250 | 809 | 70.00 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
Subsequent Periodic Rate Cap* | ||||||
Subsequent Periodic Cap (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1.000 - 1.999 | 291 | 78,168,445 | 63.76 | 8.179 | 593 | 73.28 |
2.000 - 2.999 | 187 | 43,271,508 | 35.30 | 9.300 | 608 | 63.25 |
3.000 - 3.999 | 3 | 597,388 | 0.49 | 11.957 | 549 | 55.45 |
9.000 - 9.999 | 1 | 559,668 | 0.46 | 7.163 | 695 | 80.00 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
65
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Lifetime Periodic Cap* | ||||||
Lifetime Periodic Cap (%) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0.500 - 0.999 | 1 | 163,671 | 0.13 | 7.500 | 689 | 81.18 |
1.000 - 1.499 | 1 | 1,374,962 | 1.12 | 8.625 | 547 | 60.84 |
2.000 - 2.499 | 1 | 48,591 | 0.04 | 11.875 | 718 | 69.42 |
2.500 - 2.999 | 1 | 559,668 | 0.46 | 7.163 | 695 | 80.00 |
3.000 - 3.499 | 2 | 275,893 | 0.23 | 8.250 | 637 | 60.69 |
3.500 - 3.999 | 1 | 95,537 | 0.08 | 9.875 | 703 | 65.89 |
4.000 - 4.499 | 6 | 1,251,991 | 1.02 | 8.066 | 704 | 35.21 |
4.500 - 4.999 | 4 | 1,544,874 | 1.26 | 7.017 | 749 | 86.34 |
5.000 - 5.499 | 17 | 4,282,454 | 3.49 | 6.395 | 722 | 61.44 |
5.500 - 5.999 | 2 | 553,766 | 0.45 | 8.149 | 742 | 52.05 |
6.000 - 6.499 | 410 | 105,328,218 | 85.91 | 8.760 | 589 | 69.64 |
6.500 - 6.999 | 3 | 494,911 | 0.40 | 8.584 | 528 | 98.08 |
7.000 - 7.499 | 20 | 3,735,305 | 3.05 | 8.660 | 569 | 79.77 |
8.000 - 8.499 | 2 | 180,171 | 0.15 | 10.990 | 463 | 66.74 |
11.500 - 11.999 | 1 | 209,236 | 0.17 | 5.800 | 630 | 76.95 |
12.500 - 12.999 | 10 | 2,497,762 | 2.04 | 6.697 | 662 | 78.23 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
*ARM Loans Only
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
66
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
DESCRIPTION OF THE ADJUSTABLE RATE COLLATERAL |
Original Prepayment Charge Term | ||||||
Original Prepayment Charge Term (mos.) | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
0 | 165 | 53,651,862 | 43.76 | 7.525 | 649 | 66.84 |
12 | 20 | 5,763,752 | 4.70 | 10.410 | 584 | 66.15 |
24 | 248 | 49,192,546 | 40.13 | 9.785 | 536 | 72.17 |
36 | 47 | 13,607,594 | 11.10 | 7.726 | 630 | 73.39 |
60 | 2 | 381,255 | 0.31 | 7.089 | 710 | 69.60 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Lien Position | ||||||
Lien Position | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
1st Lien | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
Loan Status | ||||||
Loan Status | Number of Initial Mortgage Loans | Aggregate Remaining Principal Balance ($) | % of Aggregate Remaining Principal Balance | W.A. Coupon (%) | W.A. Non-Zero FICO | W.A. Current Updated CLTV (%) |
Active | 445 | 115,876,403 | 94.52 | 8.620 | 603 | 69.10 |
Forbearance | 23 | 4,896,409 | 3.99 | 7.801 | 518 | 80.42 |
Bankruptcy | 14 | 1,824,197 | 1.49 | 8.673 | 509 | 77.60 |
Total: | 482 | 122,597,009 | 100.00 | 8.588 | 599 | 69.68 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
67
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3 |
FOR ADDITIONAL INFORMATION PLEASE CALL:
Deutsche Bank Securities | |
Whole Loan Trading | |
Darren Hadlock | 212-250-6503 |
ABS Banking | |
Susan Valenti | 212-250-3455 |
Karan Mehta | 212-250-0869 |
Kathie Peng | 212-250-7259 |
ABS Structuring | |
Bill Yeung | 212-250-6893 |
Chris Sudol | 212-250-0507 |
ABS Collateral | |
Brendon Girardi | 212-250-2958 |
Andrew Peake | 212-250-5049 |
The issuing entity has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuing entity has filed with the SEC for more complete information about the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI’s trading desk at 212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change
68