![]() | BEAR, STEARNS & CO. INC. | |
ATLANTA • BOSTON • CHICAGO | ASSET-BACKED SECURITIES GROUP | |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue | |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 | |
LONDON • PARIS • TOKYO | (212) 272-2000 |
Part I of II
New Issue Computational Materials
$[1,400,003,000] (Approximate)
Impac Secured Assets Corp.,
Pass-Through Certificates, Series 2007-2
![](https://capedge.com/proxy/FWP/0001144204-07-015877/impac-logo.jpg)
Impac Funding Corporation
Seller and Master Servicer
Impac Secured Assets Corp.
Depositor
Ambac Assurance Corporation
Certificate Insurer
![](https://capedge.com/proxy/FWP/0001144204-07-015877/ambac.jpg)
March 20, 2007 (Revised March 26, 2007)
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | BEAR, STEARNS & CO. INC. | |
ATLANTA • BOSTON • CHICAGO | ASSET-BACKED SECURITIES GROUP | |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue | |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 | |
LONDON • PARIS • TOKYO | (212) 272-2000 |
STATEMENT REGARDING FREE WRITING PROSPECTUS
The issuer has filed a registration statement (File No. 333-131328) (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus you request it by calling toll free 1-866-803-9204.
This free writing prospectus does not contain all information that is required to be included in the base prospectus and the prospectus supplement.
The Information in this free writing prospectus is preliminary and is subject to completion or change.
The Information in this free writing prospectus supersedes information contained in any prior similar free writing prospectus relating to these securities prior to the time of your commitment to purchase.
This free writing prospectus is not an offer to sell or solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.
The information in this free writing prospectus is preliminary, and will be superseded by the definitive free writing prospectus. This free writing prospectus is being delivered to you solely to provide you with information about the offering of the asset-backed securities referred to in this free writing prospectus and to solicit an indication of your interest in purchasing such securities, when, as and if issued. Any such indication of interest will not constitute a contractual commitment by you to purchase any of the securities. You may withdraw your indication of interest at any time.
The securities referred to in this free writing prospectus are being offered when, as and if issued. Our obligation to sell securities to you is conditioned on the securities having the characteristics described in this free writing prospectus. If that condition is not satisfied, we will notify you, and neither the issuer nor any underwriter will have any obligation to you to deliver all or any portion of the securities which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery.
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative..
![]() | BEAR, STEARNS & CO. INC. | |
ATLANTA • BOSTON • CHICAGO | ASSET-BACKED SECURITIES GROUP | |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue | |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 | |
LONDON • PARIS • TOKYO | (212) 272-2000 |
SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION
The information contained in the attached materials (the “Information”) may include various forms of performance analysis, security characteristics and securities pricing estimates for the securities described therein. Should you receive Information that refers to the “Statement Regarding Assumptions and Other Information”, please refer to this statement instead. The Information is illustrative and is not intended to predict actual results which may differ substantially from those reflected in the Information. Performance analysis is based on certain assumptions with respect to significant factors that may prove not to be as assumed. Performance results are based on mathematical models that use inputs to calculate results. As with all models, results may vary significantly depending upon the value given to the inputs. Inputs to these models include but are not limited to: prepayment expectations (econometric prepayment models, single expected lifetime prepayments or a vector of periodic prepayments), interest rate assumptions (parallel and nonparallel changes for different maturity instruments), collateral assumptions (actual pool level data, aggregated pool level data, reported factors or imputed factors), volatility assumptions (historically observed or implied current) and reported information (paydown factors, rate resets, remittance reports and trustee statements). Models used in any analysis may be proprietary, the results therefore, may be difficult for any third party to reproduce. Contact your registered representative for detailed explanations of any modeling techniques employed in the Information.
The Information may not reflect the impact of all structural characteristics of the security, including call events and cash flow priorities at all prepayment speeds and/or interest rates. You should consider whether the behavior of these securities should be tested using assumptions different from those included in the Information. The assumptions underlying the Information, including structure and collateral, may be modified from time to time to reflect changed facts and circumstances. Offering Documents contain data that is current as of their publication dates and after publication may no longer be accurate, complete or current. Contact your registered representative for Offering Documents, current Information or additional materials, including other models for performance analysis, which are likely to produce different results, and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent our view, at the time determined, of the investment value of the securities between the estimated bid and offer levels, the spread between which may be significant due to market volatility or illiquidity, (b) do not constitute a bid by Bear Stearns or any other person for any security, (c) may not constitute prices at which the securities could have been purchased or sold in any market at any time, (d) have not been confirmed by actual trades, may vary from the value Bear Stearns assigns or may be assigned to any such security while in its inventory, and may not take into account the size of a position you have in the security, and (e) may have been derived from matrix pricing that uses data relating to other securities whose prices are more readily ascertainable to produce a hypothetical price based on the estimated yield spread relationship between the securities.
General Information: Bear Stearns and/or individuals associated therewith may have positions in these securities while the Information is circulating or during such period may engage in transactions with the issuer or its affiliates. We act as principal in transactions with you, and accordingly, you must determine the appropriateness for you of such transactions and address any legal, tax or accounting considerations applicable to you. Bear Stearns shall not be a fiduciary or advisor unless we have agreed in writing to receive compensation specifically to act in such capacities. If you are subject to ERISA, the Information is being furnished on the condition that it will not form a primary basis for any investment decision.
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 1 of 46
$[1,400,003,000] (Approximate)
Characteristics of the Certificates (1) (2) (3)
Class | Original Principal Balance | Coupon | Tranche Type | WAL to call (years) | Principal Window (mos.) | Last Scheduled Payment Date | Expected Ratings (S&P/Mdy’s) |
1-A1-A | $338,964,000 | (4)(5) | Super Senior Sequential | 1.00 | 1 - 21 | 5/25/2037 | AAA/Aaa |
1-A1-B | $368,075,000 | (4)(5) | Super Senior Sequential | 3.00 | 21 - 59 | 5/25/2037 | AAA/Aaa |
1-A1-C | $182,587,000 | (4)(5) | Super Senior Sequential | 5.99 | 59 - 79 | 5/25/2037 | AAA/Aaa |
1-AM | 222,406,000 | (4)(5)(7) | Insured/ Support Senior | 2.85 | 1 - 79 | 5/25/2037 | AAA/Aaa |
1-M-1 | 16,134,000 | (4)(5) | Mezzanine | 4.69 | 37 - 79 | 5/25/2037 | AA+/Aa1 |
1-M-2 | 14,341,000 | (4)(5) | Mezzanine | 4.68 | 37 - 79 | 5/25/2037 | AA/Aa2 |
1-M-3 | 7,768,000 | (4)(5) | Mezzanine | 4.68 | 37 - 79 | 5/25/2037 | AA-/Aa3 |
1-M-4 | 7,171,000 | (4)(5) | Mezzanine | 4.68 | 37 - 79 | 5/25/2037 | A+/A1 |
1-M-5 | 5,975,000 | (4)(5) | Mezzanine | 4.68 | 37 - 79 | 5/25/2037 | A/A2 |
1-M-6 | 4,780,000 | (4)(5) | Mezzanine | 4.66 | 37 - 79 | 5/25/2037 | A-/A3 |
1-M-7 | 4,183,000 | (4)(5) | Mezzanine | 4.56 | 37 - 75 | 5/25/2037 | BBB+Baa1 |
1-M-8 | 4,183,000 | (4)(5) | Mezzanine | 4.44 | 37 - 69 | 5/25/2037 | BBB/Baa2 |
1-B (6) | 4,780,000 | (4)(5) | Subordinate | 5/25/2037 | |||
2-A | $223,436,000 | (4)(5)(7) | Insured Senior | 5.03 | 1-129 | 4/25/2037 | AAA/Aaa |
Total Offered Certificates | $1,400,003,000 |
Notes:
(1) | The (i) Class 1-A1-A, Class 1-A1-B, Class 1-A1-C, Class 1-AM and Class 2-A Certificates (collectively, the “Class A Certificates”) and (ii) Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7 and Class 1-M-8 Certificates (collectively, the “Class 1-M Certificates”) and (iii) and the Class 1-B Certificates (the “Class 1-B Certificates” and, together with the Class 1-M Certificates, the “Subordinate Certificates”). The Class A Certificates and the Subordinate Certificates (other than the Class 1-B Certificates) are collectively referred to herein as the “Offered Certificates.” |
(2) | The Certificates are subject to a +/-5% variance. |
(3) | Based on the collateral prepayment assumptions described under “Pricing Prepayment Speed” herein, and priced to call. |
(4) | The Pass-Through Rate for each Class of Certificates will be equal to the least of (a) one-month LIBOR plus the margin for such Class, (b) 11.50% per annum and (c) the applicable Net WAC Rate. |
(5) | The Offered Certificates will be priced to call. In the event that the related optional clean-up call does not occur on the earliest possible date, (i) the margin for each of the Class A Certificates will increase to 2x the original margins and (ii) the margin for each of the Subordinate Certificates will increase to 1.5x the original margins. |
(6) | The Class 1-B Certificates are not offered hereby. |
(7) | The Class 1-AM Certificates and the Class 2-A Certificates benefit from a certificate guaranty insurance policy issued by the Certificate Insurer. The certificate guaranty insurance policy will unconditionally and irrevocably guarantee certain payments on the Class 1-AM Certificates and Class 2-A Certificates. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 2 of 46
Trust: | Mortgage Pass-Through Certificates, Series 2007-2. | |
Depositor: | Impac Secured Assets Corp. | |
Seller: | Impac Funding Corporation. | |
Master Servicer: | Impac Funding Corporation. | |
Sub-Servicers: | Countrywide Home Loans Servicing LP will act as the sub-servicer with respect to substantially all of the Group 1 Mortgage Loans. | |
Midland Loan Services, Inc. will sub-service the Group 2 Mortgage Loans. | ||
Lead Manager: | Bear, Stearns & Co. Inc. | |
Group 1 Co-Managers: | Deutsche Bank Securities Inc. and | |
Countrywide Securities Corporation | ||
Group 2 Co-Managers: | Deutsche Bank Securities Inc. and | |
Merrill Lynch & Co. | ||
Trustee: | Deutsche Bank National Trust Company. | |
Class 1-AM and Class 2-A Certificate Insurer: | Ambac Assurance Corporation, a Wisconsin domiciled stock insurance corporation. | |
Certificate Insurance Policy: | The certificate guaranty insurance policy issued by the Certificate Insurer for the benefit of the holders of the Class 1-AM and Class 2-A Certificates. | |
Swap Provider: | [________________]. The Swap Provider will be rated at least “A” by Standard and Poor’s and at least “A2” by Moody’s Investors Service. | |
Yield Maintenance Provider(s): | [________________]. The Yield Maintenance Provider(s) will be rated at least “A” by Standard and Poor’s and at least “A2” by Moody’s Investors Service. | |
Supplemental Interest Trust Trustee: | [Deutsche Bank National Trust Company]. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 3 of 46
Offered Certificates: | The (i) Class 1-A1-A, Class 1-A1-B, Class 1-A1-C Certificates (collectively, the “Class 1-A1 Certificates”), Class 1-AM Certificates (the “Class 1-AM Certificates” and collectively with the 1-A1 Certificates, the “Class 1-A Certificates”), (ii) Class 2-A Certificates (the “Class 2-A Certificates” and together with the Class 1-A Certificates, the “Class A Certificates”), (iii) Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7 and Class 1-M-8 Certificates (collectively, the “Class 1-M Certificates”) and (iv) Class 1-B Certificates (the “Class 1-B Certificates”, together with the “Class 1-M Certificates”, the “Subordinate Certificates”). The Class A Certificates and the Subordinate Certificates (other than the Class 1-B Certificates) are collectively referred to herein as the “Offered Certificates.” | |
Non-Offered Certificates: | The “Non-Offered Certificates” consist of the Class 1-B, Class 1-C, Class 1-P, Class 2-C, Class 2-P and Class R Certificates. The Offered Certificates and the Non-Offered Certificates are collectively referred to herein as the “Certificates.” | |
Registration: | Book-Entry form, same day funds through DTC, Clearstream and Euroclear. | |
Tax Status: | It is anticipated that the Offered Certificates will represent ownership of REMIC regular interests for tax purposes. | |
ERISA Eligibility: | The Offered Certificates are expected to be eligible for purchase by employee benefit plans and similar plans and arrangements that are subject to Title I of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended, that qualify under an investor-based prohibited transaction class exemption, as described in the prospectus. | |
SMMEA Treatment: | The Offered Certificates (other than the Class 2-A Certificates) will not constitute “mortgage related securities” for the purposes of SMMEA. The Class 2-A Certificates are expected to constitute “mortgage related securities” for the purpose of SMMEA. | |
Sample Pool Calculation Date: | March 1, 2007. | |
Cut-off Date: | For each Mortgage Loan delivered to the Trust on the Closing Date, the later of March 1, 2007 or the origination date of such Mortgage Loan. The Trust will be entitled to all payments due after March 1, 2007. | |
Expected Pricing Date: | March [27], 2007. | |
Expected Closing Date: | March [29], 2007. | |
Distribution Date: | The 25th day of each month (or, if such day is not a business day, the next succeeding business day) commencing in April 2007. | |
Accrued Interest: | The Certificates will settle flat. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 4 of 46
Interest Accrual Period: | The “Interest Accrual Period” for each Distribution Date with respect to the Certificates will be the period beginning with the previous Distribution Date (or, in the case of the first Distribution Date, the Closing Date) and ending on the day prior to such Distribution Date (on an actual/360 day basis). | |
Group 1 Optional Call: | The terms of the transaction allow for a clean-up call (the “Group 1 Clean-up Call”), which may be exercised on the distribution date the aggregate stated principal balance of the Group 1 Mortgage Loans has been reduced to less than or equal to 10% of the aggregate stated principal balance of the Group 1 Mortgage Loans as of the Cut-off Date. | |
Group 2 Optional Call: | The terms of the transaction allow for a clean-up call (the “Group 2 Clean-up Call”), which may be exercised on the distribution date the aggregate stated principal balance of the Group 2 Mortgage Loans has been reduced to less than or equal to 10% of the aggregate stated principal balance of the Group 2 Mortgage Loans as of the Cut-off Date. | |
Pricing Prepayment Speed: | The Offered Certificates will be priced based on the following collateral prepayment assumptions: | |
Group 1 Prepayment Speed: |
Fixed Rate Mortgage Loans |
100% PPC, which assumes 23% HEP (i.e., prepayments start at 2.3% CPR in month 1, and increase by 2.3% CPR each month to 23% CPR in month 10, and remain constant at 23% CPR thereafter). |
Adjustable Rate and 2 Year Fixed/28 Year Adjustable Rate Mortgage Loans |
100% PPC, which assumes 2% CPR in month 1, an additional 1/11th of 28% CPR (rounded to the nearest hundredth) for each month thereafter, building to 30% CPR in month 12 and remaining constant at 30% CPR until month 24, increasing to and remaining constant at 65% CPR from month 25 until month 31, decreasing 1/4th of 30% CPR for each month thereafter, decreasing to 35% CPR in month 35 and remaining constant at 35% CPR from month 35 and thereafter. |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 5 of 46
3 Year Fixed/27 Year Adjustable Rate Hybrid Mortgage Loans |
100% PPC, which assumes 2% CPR in month 1, an additional 1/11th of 28% CPR for each month thereafter, building to 30% CPR in month 12 and remaining constant at 30% CPR until month 36, increasing to and remaining constant at 65% CPR from month 37 until month 43, decreasing 1/4th of 30% CPR for each month thereafter, decreasing to 35% CPR in month 47 and remaining constant at 35% CPR from month 47 and thereafter. |
5, 7 & 10 Year Fixed/25, 23 & 20 Year Adjustable Rate Mortgage Loans |
100% PPC, which assumes 2% CPR in month 1, an additional 1/11th of 28% CPR for each month thereafter, building to 30% CPR in month 12 and remaining constant at 30% CPR until month 60, increasing to and remaining constant at 65% CPR from month 61 until month 67, decreasing 1/4th of 30% CPR for each month thereafter, decreasing to 35% CPR in month 71 and remaining constant at 35% CPR from month 71 and thereafter. |
Group 2 Prepayment Speed: |
100% PPC, which assumes 0% CPR in the first month after the origination date of such mortgage loan, an additional 1/11th of 5% CPR for each month thereafter, building to 5% CPR in the first 12 month period, an additional 1/12th of 15% CPR for each month thereafter, building to 20% CPR in the next 12 month period and remaining at 20% CPR thereafter; provided, however, that with respect to approximately $46,841,776 of the Group 2 Mortgage Loans, the prepayment vector will assume 0% CPR for months one through sixty, and 30% CPR in month 61 and thereafter. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 6 of 46
Mortgage Loans: | The Trust will consist of (a) fixed-rate and adjustable-rate mortgage loans secured by first and second liens on the related mortgaged properties with an aggregate principal balance as of the sample pool calculation date (the “Sample Pool Calculation Date Balance”) of approximately $[1,195,091,190] (the “Group 1 Mortgage Loans”), and (b) fixed-rate and adjustable-rate mortgage loans secured by first liens on multifamily and commercial properties with an aggregate principal balance as of the Sample Pool Calculation Date of approximately $[234,949,001] (the “Group 2 Mortgage Loans”; and together with the Group 1 Mortgage Loans, the “Mortgage Loans”). The Mortgage Loans have the characteristics as of the Sample Pool Calculation Date described in the collateral tables included in this free writing prospectus. | |
The collateral tables included in this free writing prospectus as Appendix A represent a sample pool of Mortgage Loans (the “Sample Pool”) having the characteristics described therein as of the Sample Pool Calculation Date, and do not include additional Mortgage Loans expected to be included in the Trust on the Closing Date. The final pool of Mortgage Loans to be included in the Trust will be different from the Sample Pool, although the characteristics of such final pool will not materially differ from the characteristics of the Sample Pool as indicated herein. | ||
Pass-Through Rate: | The Pass-Through Rate for each class of Certificates will be equal to the least of (a) one-month LIBOR plus the margin for such class, (b) 11.50% per annum and (c) the applicable Net WAC Rate. | |
Group 1 LPMI Rate: | Approximately [2.86]% of the Group 1 Mortgage Loans, by Sample Pool Calculation Date Balance of the Group 1 Mortgage Loans, are covered by lender-paid mortgage insurance policies. The “Group 1 LPMI Rate” for any period will equal the per annum premium rate of each such insured Group 1 Mortgage Loan for that period expressed as a weighted average rate for the applicable Loan Group 1 Mortgage Loans. As of the Sample Pool Calculation Date, the weighted average Group 1 LPMI Rate is approximately [0.025]% per annum of the Group 1 Mortgage Loans. | |
Group 1 Net Mortgage Rate: | The “Group 1 Net Mortgage Rate” will be a per annum rate equal to the excess of the weighted average of the mortgage rates on the Group 1 Mortgage Loans minus the sum of (a) a weighted average sub-servicing fee rate (which is expected to be approximately [0.344]% per annum as of the Closing Date), (b) a master servicing fee rate of [0.030]% per annum , and (c) the Group 1 LPMI Rate. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 7 of 46
Group 2 Net Mortgage Rate: | The “Group 2 Net Mortgage Rate” will be a per annum rate equal to the excess of the weighted average of the mortgage rates on the Group 2 Mortgage Loans minus the sum of (a) a sub-servicing fee rate (which is expected to be approximately [0.250]% per annum as of the Closing Date) and (b) a master servicing fee rate of [0.030]% per annum | |
Group 1 Net WAC Rate: | With respect to the Class 1-A, Class 1-M and Class 1-B Certificates and any Distribution Date, a per annum rate equal to the excess, if any, of (A) a per annum rate equal to the Group 1 Net Mortgage Rate over (B) the sum of (1) a per annum rate equal to the Net Swap Payment with respect to the Group 1 Swap Agreement payable to the Swap Provider on such Distribution Date, divided by the outstanding stated principal balance of the Group 1 Mortgage Loans as of the first day of the calendar month preceding the month in which the Distribution Date occurs, multiplied by 12, and (2) a per annum rate equal to any Swap Termination Payment with respect to the Group 1 Swap Agreement not due to a Swap Provider Trigger Event payable to the Swap Provider on such Distribution Date, divided by the outstanding stated principal balance of the Group 1 Mortgage Loans as of the first day of the calendar month preceding the month in which the Distribution Date occurs, multiplied by 12, less (C) the policy premium rate related to the Class 1-AM Certificates and only with respect to the Class 1-AM Certificates. The Group 1 Net WAC Rate will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. | |
Group 2 Net WAC Rate: | With respect to the Class 2-A Certificates and any Distribution Date, a per annum rate equal to the excess, if any, of (A) a per annum rate equal to the Group 2 Net Mortgage Rate over (B) the sum of (1) a per annum rate equal to the Net Swap Payment with respect to the Group 2 Swap Agreement payable to the Swap Provider on such Distribution Date, divided by the outstanding Stated Principal Balance of the Group 2 Mortgage Loans as of the first day of the calendar month preceding the month in which the Distribution Date occurs, multiplied by 12, and (2) a per annum rate equal to any Swap Termination Payment with respect to the Group 2 Swap Agreement not due to a Swap Provider Trigger Event payable to the Swap Provider on such Distribution Date, divided by the outstanding Stated Principal Balance of the Group 2 Mortgage Loans as of the first day of the calendar month preceding the month in which the Distribution Date occurs, multiplied by 12, less (C) the policy premium rate related to the Class 2-A Certificates. The Group 2 Net WAC Rate will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 8 of 46
Net WAC Rate Shortfall: | Any shortfalls in interest payments on any Class A, Class 1-M or Class 1-B Certificates resulting from the excess, if any, of (a) interest accrued on the related Certificates at one-month LIBOR plus the related margin (up to the maximum rate of 11.50% per annum) over (b) interest accrued on the related Certificates at the related Net WAC Rate (any such shortfalls, “Net WAC Rate Shortfalls”), on each Distribution Date, plus related unpaid Net WAC Rate Shortfalls from prior Distribution Dates to be paid in the current month or carried forward for payment on subsequent Distribution Dates, together with interest thereon at the applicable Pass-Through Rate for the current Distribution Date, as described under “Certificates Priority of Distribution” below. | |
Swap Agreements: | ||
Group 1 Swap Agreement | ||
The Group 1 Certificateholders will benefit from the Group 1 Swap Agreement with notional amounts and swap rates set forth on page 41 of this free writing prospectus. Under the Group 1 Swap Agreement, commencing with the Distribution Date in [April 2007] and ending with the Distribution Date in [December 2013], the Trust shall be obligated to pay the Swap Provider a fixed amount for such Distribution Date equal to the product of (x) a fixed per annum rate for such Distribution Date as set forth on page 41 of this free writing prospectus, (y) the notional amount for such Distribution Date as set forth on page 41 of this free writing prospectus, and (z) a fraction, the numerator of which is 30 (or, for the first Distribution Date, the number of days elapsed from and including the Effective Date (as defined in the Group 1 Swap Agreement) to but excluding the first Distribution Date, determined on a 30/360 basis) and the denominator of which is 360, and (ii) the Swap Provider will be required to pay to the Trust a floating amount for such Distribution Date equal to product of (x) One-Month LIBOR as determined pursuant to the Group 1 Swap Agreement, (y) the notional amount for such Distribution Date as set forth on page 41 of this free writing prospectus, and (z) a fraction, the numerator of which is equal to the actual number of days in the related Calculation Period (as defined in the Group 1 Swap Agreement) and the denominator of which is 360. | ||
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 9 of 46
Group 2 Swap Agreement |
The Group 2 Certificateholders will benefit from the Group 2 Swap Agreement with notional amounts and swap rates set forth on page 44 of this free writing prospectus. Under the Group 2 Swap Agreement, commencing with the Distribution Date in [April 2007] and ending with the Distribution Date in [November 2016], the Trust shall be obligated to pay the Swap Provider a fixed amount for such Distribution Date equal to the product of (x) a per annum rate for such Distribution Date as set forth on page 44 of this free writing prospectus, (y) the notional amount for such Distribution Date as set forth on page 44 of this free writing prospectus, and (z) a fraction, the numerator of which is 30 (or, for the first Distribution Date, the number of days elapsed from and including the Effective Date (as defined in the Group 2 Swap Agreement) to but excluding the first Distribution Date, determined on a 30/360 basis) and the denominator of which is 360, and (ii) the Swap Provider will be required to pay to the Trust a floating amount for such Distribution Date equal to product of (x) One-Month LIBOR as determined pursuant to the Group 2 Swap Agreement, (y) the notional amount for such Distribution Date as set forth on page 44 of this free writing prospectus, and (z) a fraction, the numerator of which is equal to the actual number of days in the related Calculation Period (as defined in the Group 2 Swap Agreement) and the denominator of which is 360. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 10 of 46
Under each Swap Agreement described above, only the related net amount of the two obligations will be paid by the appropriate party (the “Group 1 Net Swap Payment” and the “Group 2 Net Swap Payment” respectively) on each Distribution Date. Generally, any Net Swap Payment due to the Swap Provider on any Distribution Date will be paid prior to distributions to the related Certificateholders. Generally, the related Net Swap Payment will be deposited into the related swap account (the “Swap Account”) by the swap administrator pursuant to each related swap administration agreement, and amounts on deposit in the related Swap Account will be distributed in accordance with the terms set forth in the related swap administration agreement. Upon early termination of either Swap Agreement, the Trust or the Swap Provider may be obligated to make a termination payment (the ‘‘Group 1 Swap Termination Payment’’ and “Group 2 Swap Termination Payment”) to the other party, regardless of which party caused the termination. The related Swap Termination Payment will be computed in accordance with the procedures set forth in the related Swap Agreement. In the event that the Trust is required to make a Swap Termination Payment, such amount generally will be paid on the related Distribution Date and on any subsequent Distribution Date until paid in full, prior to distributions to Certificateholders (other than related Swap Termination Payments attributable to a related Swap Provider Trigger Event). The entitlement to certain payments from the related Swap Accounts, as described above, and not the Swap Agreements themselves, will be assets of the Trust. | ||
Yield Maintenance Agreements: | The Group 1 Certificateholders will benefit from two Yield Maintenance Agreements with notional amounts and cap rates as set forth on pages 42 and 43 of this free writing prospectus. | |
Group 1 Yield Maintenance Agreement I | ||
The Group 1 Certificateholders will benefit from the Group 1 Yield Maintenance Agreement I with notional amounts and cap rates set forth on page 42 of this free writing prospectus. Under the Group 1 Yield Maintenance Agreement I, commencing with the Distribution Date in [April 2007], and ending with the Distribution Date in [February 2012], the Group 1 Yield Maintenance Agreement I Provider will be obligated to make a payment for each Distribution Date equal to the product of (x) the excess, if any, of (a) One-Month LIBOR as determined pursuant to the Group 1 Yield Maintenance Agreement I over (b) the related cap rate as set forth on page 42 of this free writing prospectus, (y) the notional amount for such Distribution Date as set forth on page 42 of this free writing prospectus, and (z) a fraction, the numerator of which is equal to the actual number of days in the related calculation period as provided in the Group 1 Yield Maintenance Agreement I, and the denominator of which is 360. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 11 of 46
Group 1 Yield Maintenance Agreement II |
The Group 1 Certificateholders will benefit from the Group 1 Yield Maintenance Agreement II with notional amounts and cap rates set forth on page 43 of this free writing prospectus. Under the Group 1 Yield Maintenance Agreement II, on or before each Distribution Date commencing with the Distribution Date in [February 2012], and ending with the Distribution Date in [September 2013], the Group 1 Yield Maintenance Agreement II Provider will be obligated to make a payment for that Distribution Date equal to the product of (x) the excess, if any, of (a) the lesser of (i) One-Month LIBOR as determined pursuant to the Group 1 Yield Maintenance Agreement II and (ii) 11.500% over (b) a cap rate equal to 7.50%, (y) the notional amount for such Distribution Date as set forth on page 43 of this free writing prospectus, and (z) a fraction, the numerator of which is equal to the actual number of days in the related calculation period as provided in the Group 1 Yield Maintenance Agreement II, and the denominator of which is 360. |
Group 2 Yield Maintenance Agreement |
The Group 2 Certificateholders will benefit from the Group 2 Yield Maintenance Agreement with notional amounts and cap rates set forth on page 45 of this free writing prospectus. Under the Group 2 Yield Maintenance Agreement, commencing with the Distribution Date in [April 2007], and ending with the Distribution Date in [January 2014], the Group 2 Yield Maintenance Agreement Provider will be obligated to make a payment for that Distribution Date equal to the product of (x) the excess, if any, of One-Month LIBOR as determined pursuant to the Group 2 Yield Maintenance Agreement over the related cap rate as set forth on page 45 of this free writing prospectus, (y) the notional amount for such Distribution Date as set forth on page 45 of this free writing prospectus, and (z) a fraction, the numerator of which is equal to the actual number of days in the related calculation period as provided in the Group 2 Yield Maintenance Agreement, and the denominator of which is 360. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 12 of 46
Group 1 Credit Enhancement: | The Trust will include the following credit enhancement mechanisms, each of which is intended to provide credit support for some or all of the Class 1-A, Class 1-M and Class 1-B Certificates, as the case may be: | |
1) | Subordination | |
2) | Overcollateralization | |
3) | Excess Cashflow | |
4) | Swap Agreement | |
5) | Yield Maintenance Agreements | |
6) | Cross-collateralization | |
7) | Certificate Guaranty Insurance Policy for the benefit of the Class 1-AM Certificates | |
Group 1 Certificates |
Class | S&P / Moody’s | Subordination (at closing; as a % of Original Pool Balance) ** | Subordination (after Stepdown Date; as a % of Current Pool Balance) ** |
1-A1-A* | AAA/Aaa | 6.95% | 13.90% |
1-A1-B* | AAA/Aaa | 6.95% | 13.90% |
1-A1-C* | AAA/Aaa | 6.95% | 13.90% |
1-AM | AAA/Aaa | 6.95% | 13.90% |
1-M-1 | AA+/Aa1 | 5.60% | 11.20% |
1-M-2 | AA/Aa2 | 4.40% | 8.80% |
1-M-3 | AA-/Aa3 | 3.75% | 7.50% |
1-M-4 | A+/A1 | 3.15% | 6.30% |
1-M-5 | A/A2 | 2.65% | 5.30% |
1-M-6 | A-/A3 | 2.25% | 4.50% |
1-M-7 | BBB+Baa1 | 1.90% | 3.80% |
1-M-8 | BBB/Baa2 | 1.55% | 3.10% |
1-B | BBB-/Baa3 | 1.15% | 2.30% |
* Excludes the subordination provided by Class 1-AM.
**Approximate
Group 2 Credit Enhancement: | The Trust will include the following credit enhancement mechanisms, each of which is intended to provide credit support for the Class 2-A Certificates, as the case may be: | |
1) | Overcollateralization | |
2) | Excess Cashflow | |
3) | Swap Agreement | |
4) | Yield Maintenance Agreements | |
5) | Cross-collateralization | |
6) | Certificate Guaranty Insurance Policy for the benefit of the Class 2-A Certificates. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 13 of 46
Subordination: | Group 1 Certificates | |
The Class 1-M Certificates and Class 1-B Certificates will be subordinate to, and will provide credit support for, the Class 1-A Certificates. Among the Class 1-M Certificates and Class 1-B Certificates, subordination will rank in priority from highest to lowest in the following order: Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, with each subsequent class providing credit support for the prior class or classes, if any. | ||
Group 1 Overcollateralization: | With respect to any Distribution Date, the outstanding principal balance of the Group 1 Mortgage Loans as of the last day of the related Due Period less the aggregate Certificate Principal Balance of the Class 1-A, Class 1-M and Class 1-B Certificates (after taking into account all distributions of principal on such Distribution Date). | |
Any Realized Losses on the Group 1 Mortgage Loans will be covered first by the related Excess Cashflow and then by the Group 1 Overcollateralization, if any. If the Group 1 Overcollateralization is thereafter reduced, the related Excess Cashflow will be directed to pay principal on the related Certificates, resulting in the limited acceleration of the related Certificates relative to the amortization of the Group 1 Mortgage Loans, until the Group 1 Overcollateralization reaches the Group 1 Overcollateralization Target. Upon this event, the acceleration feature will cease, unless the amount of Group 1 Overcollateralization is reduced below the Group 1 Overcollateralization Target by Realized Losses on the Group 1 Mortgage Loans. | ||
Group 2 Overcollateralization: | With respect to any Distribution Date, the outstanding principal balance of the Group 2 Mortgage Loans as of the last day of the related Due Period less the Certificate Principal Balance of the Class 2-A Certificates (after taking into account all distributions of principal on such Distribution Date). | |
Any Realized Losses on the Group 2 Mortgage Loans will be covered first by the related Excess Cashflow and then by the Group 2 Overcollateralization, if any. If the Group 2 Overcollateralization is thereafter reduced, the related Excess Cashflow will be directed to pay principal on the related Certificates, resulting in the limited acceleration of the related Certificates relative to the amortization of the Group 2 Mortgage Loans, until the Group 2 Overcollateralization reaches the Group 2 Overcollateralization Target. Upon this event, the acceleration feature will cease, unless the amount of Group 2 Overcollateralization is reduced below the Group 2 Overcollateralization Target by Realized Losses on the Group 2 Mortgage Loans. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 14 of 46
Overcollateralization Target: | Group 1 Mortgage Loans | |
For each Distribution Date prior to the Group 1 Stepdown Date, 1.15% of the aggregate principal balance of the Group 1 Mortgage Loans as of the Cut-off Date (the “Group 1 Overcollateralization Target”). The initial amount of Group 1 Overcollateralization will be approximately 1.15% as of the Cut-off Date. | ||
On or after the Group 1 Stepdown Date, the Group 1 Overcollateralization Target will be equal to 2.30% of the aggregate principal balance of the Group 1 Mortgage Loans for the related Distribution Date, subject to a floor of 0.50% of the aggregate principal balance of the Group 1 Mortgage Loans as of the Cut-off Date; provided, however, that if a Group 1 Trigger Event (as described herein) is in effect on the related Distribution Date, the Group 1 Overcollateralization Target will be equal to the Group 1 Overcollateralization Target on the prior Distribution Date. | ||
Group 2 Mortgage Loans | ||
For each Distribution Date prior to the Group 2 Stepdown Date, 6.25% of the aggregate principal balance of the Group 2 Mortgage Loans as of the Cut-off Date (the “Group 2 Overcollateralization Target”). The initial amount of Group 2 Overcollateralization will be approximately 4.90% | ||
On or after the Group 2 Stepdown Date, the Group 2 Overcollateralization Target will be equal to [12.50]% of the aggregate principal balance of the Group 2 Mortgage Loans for the related Distribution Date, subject to a floor equal to the greater of (x) 0.50% of the aggregate principal balance of the Group 2 Mortgage Loans as of the Cut-off Date and (y) two times (2x) the current unpaid principal balance of the Group 2 Mortgage Loan that has the largest outstanding principal balance as of the prior Distribution Date; provided, however, that if a Group 2 Trigger Event (as described herein) is in effect on the related Distribution Date, the Group 2 Overcollateralization Target will be equal to the Group 2 Overcollateralization Target on the prior Distribution Date. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 15 of 46
Group 1 Excess Cashflow: | “Group 1 Excess Cashflow” for any Distribution Date will be equal to the available funds for the Group 1 Mortgage Loans remaining after related interest and principal distributions on the Group 1 Certificates (not including the Class 1-C, Class 1-P and Class R Certificates) as described pursuant to clauses (1) to (3) under “Certificates Priority of Distributions - Group 1 Mortgage Loans.” | |
Group 2 Excess Cashflow: | “Group 2 Excess Cashflow” for any Distribution Date will be equal to the available funds for the Group 2 Mortgage Loans remaining after related interest and principal distributions on the Group 2 Certificates (not including the Class 2-C, Class 2-P and Class R Certificates) as described pursuant to clauses (1) to (3) under “Certificates Priority of Distributions - Group 2 Mortgage Loans.” | |
Certificate Guaranty Insurance Policy: | Ambac Assurance Corporation will guarantee the ultimate payment of principal and current interest shortfalls on the Class 1-AM Certificates and the Class 2-A Certificates only, except shortfalls and losses resulting from prepayment interest shortfalls, Relief Act shortfalls and Net WAC Rate Shortfalls. Ambac’s claims paying ability is rated “AAA” and “Aaa” by S&P and Moody’s, respectively. | |
Group 1 Trigger Event: | “Group 1 Trigger Event” will be in effect on any Distribution Date on or after the Group 1 Stepdown Date if either (or both) a Group 1 Delinquency Trigger or a Group 1 Cumulative Loss Trigger is in effect on such Distribution Date. | |
Group 2 Trigger Event: | “Group 2 Trigger Event” will be in effect on any Distribution Date on or after the Group 2 Stepdown Date if either (or both) a Group 2 Delinquency Trigger or a Group 2 Cumulative Loss Trigger is in effect on such Distribution Date. | |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 16 of 46
Group 1 Delinquency Trigger: | With respect to the related Certificates, a “Group 1 Delinquency Trigger” will occur if the three month rolling average 60+ day delinquency percentage (including bankruptcy, foreclosures, and REO) for the outstanding Group 1 Mortgage Loans equals or exceeds [43.00]% times the related Senior Enhancement Percentage. As used above, the “Senior Enhancement Percentage” with respect to any Distribution Date is the percentage equivalent of a fraction, (a) the numerator of which is equal to: the excess of (i) the aggregate principal balance of the Group 1 Mortgage Loans for such distribution date (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) over (ii) (1) before the Certificate Principal Balances of the Class 1-A Certificates have been reduced to zero, the sum of the Certificate Principal Balances of the Class 1-A Certificates (after taking into account distribution of the Group 1 Principal Distribution Amount for such distribution date), or (2) after such time, the Certificate Principal Balance of the most senior class of Group 1 Subordinate Certificates outstanding (after taking into account distribution of the Group 1 Principal Distribution Amount for such distribution date) and (b) the denominator of which is equal to the aggregate principal balance of the Group 1 Mortgage Loans for such distribution date (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). |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
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Group 1 Cumulative Loss Trigger: | With respect to the related Certificates, a “Group 1 Cumulative Loss Trigger” will occur if the aggregate amount of Realized Losses on the Group 1 Mortgage Loans exceeds the applicable percentage of the aggregate principal balance of the Group 1 Mortgage Loans as of the Cut-off Date, as set forth below: |
Period (month) | Percentage |
25 - 36 | [0.25]% with respect to April 2009, plus an additional 1/12th of [0.40]% for each month thereafter |
37 - 48 | [0.65]% with respect to April 2010, plus an additional 1/12th of [0.45]% for each month thereafter |
49 - 60 | [1.10]% with respect to April 2011, plus an additional 1/12th of [0.45]% for each month thereafter |
61 - 72 | [1.55]% with respect to April 2012, plus an additional 1/12th of [0.30]% for each month thereafter |
73+ | [1.85]% |
Group 2 Delinquency Trigger: | With respect to the related Certificates, a “Group 2 Delinquency Trigger” will occur if the three month rolling average 60+ day delinquency percentage (including bankruptcy, foreclosure, and REO) for the outstanding Group 2 Mortgage Loans equals or exceeds [10.00]% of the aggregate Stated Principal Balance of the Group 2 Mortgage Loans for any payment date prior to April 2018 and [12.00]% for any payment date on or after April 2018. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 18 of 46
Group 2 Cumulative Loss Trigger: | With respect to the related Certificates, a “Group 2 Cumulative Loss Trigger” will occur if the aggregate amount of Realized Losses on the Group 2 Mortgage Loans exceeds the applicable percentage of the aggregate principal balance of the Group 2 Mortgage Loans as of the Cut-off Date, as set forth below: |
Period (month) | Percentage |
85- 96 | [4.75]% with respect to April 2014, plus an additional 1/12th of [1.25]% for each month thereafter |
97 - 108 | [6.00]% with respect to April 2015, plus an additional 1/12th of [0.35]% for each month thereafter |
109 - 120 | [6.35]% with respect to April 2016, plus an additional 1/12th of [0.15]% for each month thereafter |
121+ | [6.50]% |
Cross-Collateralization: | On each Distribution Date, Crossable Excess from each Loan Group may be available to cover Crossable Losses on Mortgage Loans in the non-related Loan Group as follows: if on such Distribution Date one Loan Group has Crossable Excess and one Loan Group has Crossable Losses, distributions shall be made from the one Loan Group with Crossable Excess to the Loan Group with Crossable Losses, up to the amount of such Crossable Losses. | |
Cross-Collateralized Loss Payments: | For any Distribution Date and each Loan Group, the amount, if any, of Crossable Excess from such Loan Group available to cover Crossable Losses in the other Loan Group as provided in “Cross-Collateralization” above. | |
Crossable Excess: | With respect to each Loan Group and any Distribution Date, an amount equal to the related Excess Cashflow remaining after clause (6) of “Certificates Priority of Distributions - Group 1 Mortgage Loans” and clause (4) of “Certificates Priority of Distributions - Group 2 Mortgage Loans,” respectively, below. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 19 of 46
Crossable Losses: | With respect to each Loan Group and any Distribution Date, an amount equal to the sum of (i) any Realized Losses on the related Mortgage Loans during the related Due Period, to the extent unreimbursed by any related Excess Cashflow on that Distribution Date and (ii) any previously unreimbursed Realized Losses on the related Mortgage Loans, to the extent that such Realized Losses have not been reimbursed by related and non-related Excess Cashflow on prior Distribution Dates. | |
Allocated Realized Loss Amounts: | With respect to any class of Certificates and any Distribution Date, an amount equal to the sum of any Realized Loss allocated to that class of Certificates on that Distribution Date and any Allocated Realized Loss Amount for that class remaining unpaid from any previous Distribution Date. Allocated Realized Loss Amounts allocated to the Class 1-AM and Class 2-A Certificates will be covered by the Certificate Insurance Policy. | |
Group 1 Stepdown Date: | The earlier to occur of (x) the Distribution Date following the Distribution Date on which the aggregate Certificate Principal Balance of the Class 1-A Certificates is reduced to zero and (y) the later to occur of: (i) the Distribution Date in April 2010 or (ii) the first Distribution Date on which the aggregate Certificate Principal Balance of the Class 1-A Certificates is less than or equal to 86.10% of the aggregate principal balance of the Group 1 Mortgage Loans for such Distribution Date. | |
Group 2 Stepdown Date: | The later to occur of (x) the Distribution Date in April 2014 or (y) the first Distribution Date on which the Certificate Principal Balance of the Class 2-A Certificates is less than or equal to 87.50% of the aggregate principal balance of the Group 2 Mortgage Loans for such Distribution Date. | |
Certificate Principal Balance: | With respect to any Certificate as of any date of determination, the initial Certificate Principal Balance thereof, increased by any subsequent recoveries allocated thereto, and reduced by the aggregate of (a) all amounts allocable to principal previously distributed with respect to such Certificate and (b) any reductions in the Certificate Principal Balance thereof in connection with allocations of Realized Losses. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 20 of 46
Allocation of Losses: | Any Realized Losses on the Group 1 Mortgage Loans not covered by any Group 1 Excess Cashflow, Group 1 Overcollateralization, Group 1 Net Swap Payments from the related Swap Provider, Group 1 Yield Maintenance Payments or Crossable Excess, will be allocated to each class of Class 1-M Certificates and Class 1-B Certificates, in the following order: to the Class 1-B, Class 1-M-8, Class 1-M-7, Class 1-M-6, Class 1-M-5, Class 1-M-4, Class 1-M-3, Class 1-M-2 and Class 1-M-1 Certificates, in each case until the respective Certificate Principal Balance of such class has been reduced to zero. In addition, if the aggregate Certificate Principal Balance of the Class 1-M Certificates and Class 1-B Certificates is reduced to zero as a result of the allocation of Realized Losses on the Group 1 Mortgage Loans, any additional Realized Losses on the Group 1 Mortgage Loans will be allocable first, to the Class 1-AM Certificates until the certificate principal balance is reduced to zero, provided however, any Realized Losses applied to the Class 1-AM Certificates will be covered by the Certificate Guaranty Insurance Policy; and second, to the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates on a pro rata basis, based on their respective Certificate Principal Balances, until in each case the Certificate Principal Balance thereof is reduced to zero. | |
. | ||
Any Realized Losses on the Class 1-AM Certificates not covered by any Group 1 Excess Cashflow, Group 1 Overcollateralization, Group 1 Net Swap Payments from the related Swap Provider, Group 1 Yield Maintenance Payments or Crossable Excess will be covered by the Certificate Guaranty Insurance Policy. | ||
Any Realized Losses on the Group 2 Mortgage Loans not covered by any Group 2 Excess Cashflow, Group 2 Overcollateralization, Group 2 Net Swap Payments from the related Swap Provider, Group 2 Yield Maintenance Payments, or Crossable Excess will be covered by the Certificate Guaranty Insurance Policy. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
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Computational Materials: Preliminary Structural Term Sheet
Page 21 of 46
Certificates Priority of Distributions: | ||
Group 1 Mortgage Loans | ||
Available funds from the Group 1 Mortgage Loans (which are net of any servicing fees, master servicing fees, private mortgage insurance premium fees and the Certificate Guaranty Insurance Policy premium related to the Class 1-AM Certificates) will be distributed in the following order of priority: | ||
1) | From available funds to the Group 1 Swap Account, any Group 1 Net Swap Payment and Group 1 Swap Termination Payment for such Distribution Date (other than any Group 1 Swap Termination Payment resulting from a Swap Provider Trigger Event) owed to the Swap Provider; | |
2) | From interest funds, current and unpaid interest, to the Class 1-A Certificates, pro rata based on their entitlement, | |
3) | From remaining interest funds, to the Certificate Insurer, with respect to the Class 1-AM Certificates, any amounts reimbursable to the Certificate Insurer for the interest portion of any related Insured Payments made pursuant to the Insurance Agreement and any related unpaid Policy Premium; | |
4) | From interest funds, to pay current interest sequentially, to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates; | |
5) | From principal funds, (i) first to the Class 1-A Certificates, as more fully described under “Class 1-A Certificates Principal Distributions” below, and (ii) second, sequentially, to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, each as described more fully under “Principal Paydown” below; | |
6) | From Group 1 Excess Cashflow, to the Certificate Insurer, with respect to the Class 1-AM Certificates, any amounts reimbursable to the Certificate Insurer for any related Insured Payments made pursuant to the Insurance Agreement and any related unpaid Policy Premium; | |
7) | From Group 1 Excess Cashflow, as principal to the Class 1-A, Class 1-M and Class 1-B Certificates to restore or maintain Overcollateralization, as described under “Overcollateralization Target;” | |
8) | From any remaining Group 1 Excess Cashflow, to pay any Allocated Realized Loss Amounts to the Class 1-A Certificates, sequentially to the Class 1-A1 Certificates (on a pro rata basis among the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates, based on entitlement) and to pay any Allocated Realized loss amounts to Class 1-AM, based on the unpaid Realized Loss amount for such class of Certificates; | |
9) | From any remaining Group 1 Excess Cashflow, sequentially to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, in that order, in each case first to pay any unpaid interest for such class and then to pay any Allocated Realized Loss Amounts for such class; | |
10) | to the Certificate Insurer, with respect to the Class 2-A Certificates, any amounts reimbursable to the Certificate Insurer for related Insured Payments made pursuant to the Insurance Agreement and any related unpaid Policy Premium, in each case, to the extent not covered by the Net Monthly Excess Cashflow relating to Loan Group 2 on that distribution date; |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
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Computational Materials: Preliminary Structural Term Sheet
Page 22 of 46
11) | From any remaining Group 1 Excess Cashflow to the Class 2-A Certificates any Cross-Collateralized Loss Payments; | |
12) | From any remaining Group 1 Excess Cashflow, to the related Net WAC Rate shortfall reserve fund to pay the Group 1 Certificates, on a pro rata basis, based on the Certificate Principal Balances thereof, to the extent needed to pay any remaining related Net WAC Rate Shortfalls for each such class; provided that any Group 1 Excess Cashflow remaining after such allocation to pay Net WAC Rate Shortfalls based on the Certificate Principal Balances of these Certificates will be distributed to each such Class of Certificates with respect to which there remains any unpaid Net WAC Rate Shortfalls (after the distribution based on Certificate Principal Balances), pro rata, based on the amount of such unpaid Net WAC Rate Shortfalls; | |
13) | To the holders of the Class 2-A Certificates, in respect of the Allocated Realized Loss Amounts for such class to the extent not covered by the Net Monthly Excess Cashflow relating to Loan Group 2 on that distribution date; | |
14) | To the Group 1 Swap Account, any Group 1 Swap Termination Payment owed to the Swap Provider specifically due to a Group 1 Swap Provider Trigger Event pursuant to the Group 1 Swap Agreement; | |
15) | To the Certificate Insurer, any remaining amounts related to the Group 1 Loans and owed to the Certificate Insurer under the Insurance Agreement; | |
16) | To the Certificate Insurer, any remaining amounts related to the Group 2 Loans and owed to the Certificate Insurer under the Insurance Agreement, to the extent not covered by Net Monthly Excess Cashflow from the Group 2 Loans; and | |
17) | To the Class 1-C and Class R Certificates, any remaining amounts as described in the pooling and servicing agreement. |
Group 2 Mortgage Loans | ||
Available funds from the Group 2 Mortgage Loans (which are net of any servicing fees, master servicing fees, private mortgage insurance premium fees and the related Certificate Guaranty Insurance Policy premium) will be distributed in the following order of priority: | ||
1) | From available funds to the Group 2 Swap Account, any Group 2 Net Swap Payment and Group 2 Swap Termination Payment for such Distribution Date (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) owed to the Swap Provider; | |
2) | From interest funds current and unpaid interest to the Class 2-A Certificates; | |
3) | From principal funds to the Class 2-A Certificates, as more fully described under “Class 2-A Certificates Principal Distributions” below; | |
4) | From Group 2 Excess Cashflow, to the Certificate Insurer, any unpaid premium amounts and unreimbursed Insured Payments related to the Class 2-A Certificates; | |
5) | From Group 2 Excess Cashflow, as principal to the Class 2-A Certificates to restore or maintain Overcollateralization, as described under “Overcollateralization Target”; |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 23 of 46
6) | To the holders of the Class 2-A Certificates, an amount equal to any Allocated Realized Loss Amount; | |
7) | to the Certificate Insurer, with respect to the Class 1-AM Certificates, any amounts reimbursable to the Certificate Insurer for related Insured Payments made pursuant to the Insurance Agreement and any related unpaid Policy Premium, in each case, to the extent not covered by the Net Monthly Excess Cashflow relating to Loan Group 1 on that distribution date; | |
8) | From any remaining Group 2 Excess Cashflow (i) first to the Class 1-A Certificates, sequentially to the Class 1-A1 Certificates (on a pro rata basis among the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates) and Class 1-AM and (ii) second, sequentially to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, any Cross-Collateralized Loss Payments; | |
9) | From any remaining Group 2 Excess Cashflow to the related Net WAC Rate shortfall reserve fund to pay the Class 2-A Certificates any remaining related Net WAC Rate Shortfalls; | |
10) | From any remaining Group 2 Excess Cashflow to the Group 1 Certificates, (i) first, sequentially to the Class 1-A1 Certificates (on a pro rata basis among the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates) and the Class 1-AM, in respect of Allocated Realized Loss Amount for such class of Certificates and (ii) second, sequentially to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, in respect of Allocated Realized Loss Amounts for each such Class, to the extent not covered by the Net Monthly Excess Cashflow relating to Loan Group 2 on that distribution date; | |
11) | To the Group 2 Swap Account, any Group 2 Swap Termination Payment owed to the Swap Provider specifically due to a Swap Provider Trigger Event pursuant to the Group 2 Swap Agreement; | |
12) | To the Certificate Insurer, any remaining amounts related to the Group 2 Loans and owed to the Certificate Insurer under the insurance agreement; | |
13) | To the Certificate Insurer, any remaining amounts related to the Group 1 Loans and owed to the Certificate Insurer under the Insurance Agreement, to the extent not covered by Net Monthly Excess Cashflow from the Group 1 Loans; and | |
14) | To the Class 2-C and Class-R Certificates, any remaining amounts as described in the pooling and servicing agreement. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 24 of 46
Principal Paydown: | ||
Group 1 Certificates | ||
Prior to the Group 1 Stepdown Date or if a Group 1 Trigger Event is in effect on any Distribution Date, 100% of the available principal funds from the Group 1 Mortgage Loans will be paid to the Class 1-A Certificates, as more fully described below under “Class 1-A Certificates Principal Distributions” below; however, if the Class 1-A Certificates have been retired, such amounts will be applied sequentially to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, in that order, in each case until the Certificate Principal Balance thereof is reduced to zero. | ||
On any Distribution Date on or after the Group 1 Stepdown Date, and if a Group 1 Trigger Event is not in effect on such Distribution Date, the Group 1 Certificates will be entitled to receive payments of principal in the following order of priority in each case until the Certificate Principal Balance thereof is reduced to zero: | ||
(i) | First to the Class 1-A Certificates, as more fully described below under “Class 1-A Certificates Principal Distribution”, such that the unpaid principal of the Class 1-A Certificates in the aggregate will have 13.90% subordination, | |
(ii) | second, to the Class 1-M-1 Certificates such that the Class 1-M-1 Certificates will have approximately 11.20% subordination, | |
(iii) | third, to the Class 1-M-2 Certificates such that the Class 1-M-2 Certificates will have approximately 8.80% subordination, | |
(iv) | fourth, to the Class 1-M-3 Certificates such that the Class 1-M-3 Certificates will have approximately 7.50% subordination, | |
(v) | fifth, to the Class 1-M-4 Certificates such that the Class 1-M-4 Certificates will have approximately 6.30% subordination, | |
(vi) | sixth, to the Class 1-M-5 Certificates such that the Class 1-M-5 Certificates will have approximately 5.30% subordination, | |
(vii) | seventh, to the Class 1-M-6 Certificates such that the Class 1-M-6 Certificates will have approximately 4.50% subordination, | |
(viii) | eighth, to the Class 1-M-7 Certificates such that the Class 1-M-7 Certificates will have approximately 3.80% subordination, | |
(ix) | ninth, to the Class 1-M-8 Certificates such that the Class 1-M-8 Certificates will have approximately 3.10% subordination, | |
(x) | tenth, to the Class 1-B Certificates such that the Class 1-B Certificates will have approximately 2.30% subordination. |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 25 of 46
Class 1-A Certificates Principal Distributions: | |
Principal will be distributed to the Class 1-A Certificates concurrently and pro rata between the Class 1-A1 Certificates and Class 1-AM Certificates based on (x) the aggregate Certificate Principal Balance of the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates and (y) the Certificate Principal Balance of the Class 1-AM Certificates, which will further be allocated in the following manner: | |
(x) sequentially, to the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates, in that order, in each case until the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificate Principal Balance thereof is reduced to zero; and | |
(y) to the Class 1-AM Certificates until the Class 1-AM Certificate Principal Balance thereof is reduced to zero. | |
On or after the Stepdown Date and assuming no Group 1 Trigger Event is in effect, principal paid to the Class 1-A Certificates will have approximately 13.90% of the current balance of the related Mortgage Loans as credit enhancement (which is approximately 2x the initial senior enhancement percentage). | |
Group 2 Certificates | |
Prior to the Group 2 Stepdown Date or if a Group 2 Trigger Event is in effect on any Distribution Date, 100% of the available principal funds from the Group 2 Mortgage Loans will be paid to the Class 2-A Certificates until the Certificate Principal Balance is reduced to zero. | |
Class 2-A Certificates Principal Distributions: | |
On or after the Stepdown Date and assuming no Group 2 Trigger Event is in effect, principal paid to the Class 2-A Certificates will have approximately [12.50]% of the current balance of the related Mortgage Loans as credit enhancement (which is approximately 2x the initial senior enhancement). |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 26 of 46
Group I Derivative Account: | On or before each Distribution Date, as applicable, Net Swap Payments payable by the Swap Provider to the Derivative Administrator under the Group 1 Swap Agreement and payments payable by each Group 1 Yield Maintenance Agreement Provider to the Derivative Administrator under Group 1 Yield Maintenance Agreement I (other than termination payments) and Group 1 Yield Maintenance Agreement II (other than termination payments) will be deposited by the Derivative Administrator into the Group 1 Derivative Account. On each Distribution Date, to the extent required, the Derivative Administrator will withdraw the following amounts from the Group 1 Derivative Account and remit to the Trustee for distribution to the related certificates (after distribution to the certificates of the related and unrelated Excess Cashflow) in the following order of priority: | |
(1) | concurrently to the Class 1-A Certificates, pro rata, based on entitlement, in an amount equal to any unpaid interest shortfall amount for such class or classes to the extent not covered by the related interest remittance amount and the related net monthly Excess Cashflow on that Distribution Date and solely to the extent the unpaid interest shortfall amount is as a result of the interest portion of Realized Losses on the Group 1 Mortgage Loans; | |
(2) | sequentially, to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, in that order, in an amount equal to any unpaid interest shortfall amount for such class or classes to the extent not covered by the related interest remittance amount and the related net monthly Excess Cashflow on that Distribution Date and solely to the extent the unpaid interest shortfall amount is as a result of the interest portion of Realized Losses on the Group 1 Mortgage Loans; | |
(3) | to the Class 1-A, Class 1-M and Class 1-B Certificates, an amount equal to any related extra principal distribution amount, to the extent not covered by any related or unrelated net monthly Excess Cashflow on that Distribution Date and solely to the extent the payment of the extra principal distribution amount is as a result of current or prior period related Realized Losses, to be included in the related Principal Distribution Amount for that Distribution Date and payable to such holders as part of the related Principal Distribution Amount ; | |
(4) | to the related Net WAC reserve fund, to pay Net WAC Rate Shortfalls on the Class 1-A, Class 1-M and Class 1-B Certificates, on a pro rata basis, based on the aggregate amount of Net WAC Rate Shortfalls for such class(es) of Class 1-A, Class 1-M, and Class 1-B Certificates remaining unpaid, to the extent not covered by the related Net Monthly Excess Cashflow on that Distribution Date; | |
(5) | to the Class 1-A1 Certificates (pro rata among the class 1-A1-A, Class 1-A1-B and Class 1-A1-C) and Class 1-AM Certificates, sequentially, in an amount equal to any Allocated Realized Loss Amount for such class or classes, to the extent not covered by any related or unrelated net monthly Excess Cashflow on that Distribution Date; |
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 27 of 46
(6) | sequentially to the Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6, Class 1-M-7, Class 1-M-8 and Class 1-B Certificates, in an amount equal to any Allocated Realized Loss Amount for such class or classes, to the extent not covered by any related or unrelated net monthly Excess Cashflow on that Distribution Date; and | |
(7) | to pay to the parties named in the Pooling and Servicing Agreement any remaining amounts. | |
Group 2 Derivative Account: | On or before each Distribution Date, as applicable, Net Swap Payments payable by the Swap Provider to the Derivative Administrator under the Group 2 Swap Agreement and payments payable by the Group 2 Yield Maintenance Agreement Provider to the Derivative Administrator under Group 2 Yield Maintenance Agreement (other than termination payments) will be deposited by the Derivative Administrator into the Group 2 Derivative Account. On each Distribution Date, to the extent required, the Derivative Administrator will withdraw the following amounts from the Group 2 Derivative Account and remit to the Trustee for distribution to the related certificates (after distribution to the certificates of the related and unrelated Excess Cashflow) in the following order of priority: | |
(1) | to the Class 2-A Certificates an amount equal to any unpaid interest shortfall amount for such class or classes to the extent not covered by the related interest remittance amount and related net monthly Excess Cashflow on that Distribution Date and solely to the extent the unpaid interest shortfall amount is as a result of the interest portion of Realized Losses; | |
(2) | to the Class 2-A Certificates an amount equal to any extra principal distribution amount, to the extent not covered by any related and unrelated net monthly Excess Cashflow on that Distribution Date and solely to the extent the payment of the extra principal distribution amount is as a result of current or prior period related Realized Losses, to be included in the related Principal Distribution Amount for that Distribution Date and payable to such holders as part of the related Principal Distribution Amount; | |
(3) | to the related Net WAC reserve fund, to pay related Net WAC Rate Shortfalls on the Class 2-A Certificates, based on the aggregate amount of Net WAC Rate Shortfalls for such Class 2-A Certificates remaining unpaid, to the extent not covered by the Group 2 Excess Cashflow on that Distribution Date; and | |
(4) | to pay to the parties named in the Pooling and Servicing Agreement any remaining amounts. |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 28 of 46
Group 1 Sensitivity Analysis - To 10% Optional Call |
Class 1-A1-A (to 10% call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 13.54 | 1.71 | 1.24 | 1.00 | 0.85 | 0.76 |
Modified Duration (years) | 9.05 | 1.57 | 1.16 | 0.94 | 0.81 | 0.72 |
First Principal Payment | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 |
Last Principal Payment | 9/25/2026 | 6/25/2010 | 6/25/2009 | 12/25/2008 | 8/25/2008 | 6/25/2008 |
Principal Lockout (months) | 0 | 0 | 0 | 0 | 0 | 0 |
Principal Window (months) | 234 | 39 | 27 | 21 | 17 | 15 |
Illustrative Yield (30/360) at Par | 5.58 | 5.59 | 5.59 | 5.59 | 5.60 | 5.60 |
Class 1-A1-B (to 10% call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 23.74 | 5.54 | 3.90 | 3.00 | 2.37 | 1.95 |
Modified Duration (years) | 12.71 | 4.59 | 3.38 | 2.67 | 2.15 | 1.79 |
First Principal Payment | 9/25/2026 | 6/25/2010 | 6/25/2009 | 12/25/2008 | 8/25/2008 | 6/25/2008 |
Last Principal Payment | 8/25/2034 | 3/25/2016 | 3/25/2013 | 2/25/2012 | 2/25/2011 | 2/25/2010 |
Principal Lockout (months) | 233 | 38 | 26 | 20 | 16 | 14 |
Principal Window (months) | 96 | 70 | 46 | 39 | 31 | 21 |
Illustrative Yield (30/360) at Par | 5.72 | 5.72 | 5.72 | 5.73 | 5.73 | 5.73 |
Class 1-A1-C (to 10% call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 28.58 | 12.01 | 8.05 | 5.99 | 4.93 | 4.16 |
Modified Duration (years) | 13.63 | 8.40 | 6.25 | 4.92 | 4.17 | 3.59 |
First Principal Payment | 8/25/2034 | 3/25/2016 | 3/25/2013 | 2/25/2012 | 2/25/2011 | 2/25/2010 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 328 | 107 | 71 | 58 | 46 | 34 |
Principal Window (months) | 20 | 53 | 37 | 21 | 18 | 22 |
Illustrative Yield (30/360) at Par | 5.85 | 5.86 | 5.86 | 5.86 | 5.86 | 5.86 |
Class 1-AM (to 10% call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 20.85 | 5.41 | 3.74 | 2.85 | 2.32 | 1.95 |
Modified Duration (years) | 11.54 | 4.24 | 3.13 | 2.48 | 2.06 | 1.75 |
First Principal Payment | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 0 | 0 | 0 | 0 | 0 | 0 |
Principal Window (months) | 348 | 160 | 108 | 79 | 64 | 56 |
Illustrative Yield (30/360) at Par | 5.69 | 5.69 | 5.69 | 5.70 | 5.70 | 5.70 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 29 of 46
Group 1 Sensitivity Analysis - To 10% Optional Call |
Class 1-M-1 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.73 | 8.93 | 6.13 | 4.69 | 4.02 | 3.7 |
Modified Duration (years) | 13.14 | 6.62 | 4.94 | 3.95 | 3.47 | 3.23 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 5/25/2010 | 6/25/2010 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 37 | 38 |
Principal Window (months) | 75 | 103 | 69 | 43 | 27 | 18 |
Illustrative Yield (30/360) at Par | 5.93 | 5.93 | 5.93 | 5.93 | 5.93 | 5.93 |
Class 1-M-2 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.73 | 8.93 | 6.13 | 4.68 | 4.00 | 3.66 |
Modified Duration (years) | 13.08 | 6.60 | 4.93 | 3.95 | 3.45 | 3.20 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 5/25/2010 | 6/25/2010 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 37 | 38 |
Principal Window (months) | 75 | 103 | 69 | 43 | 27 | 18 |
Illustrative Yield (30/360) at Par | 5.98 | 5.98 | 5.98 | 5.98 | 5.98 | 5.98 |
Class 1-M-3 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.73 | 8.93 | 6.13 | 4.68 | 4.00 | 3.63 |
Modified Duration (years) | 12.74 | 6.52 | 4.89 | 3.92 | 3.43 | 3.15 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 5/25/2010 | 5/25/2010 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 37 | 37 |
Principal Window (months) | 75 | 103 | 69 | 43 | 27 | 19 |
Illustrative Yield (30/360) at Par | 6.24 | 6.24 | 6.24 | 6.24 | 6.24 | 6.24 |
Class 1-M-4 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.73 | 8.93 | 6.13 | 4.68 | 3.99 | 3.61 |
Modified Duration (years) | 12.41 | 6.44 | 4.84 | 3.89 | 3.40 | 3.12 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 5/25/2010 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 37 |
Principal Window (months) | 75 | 103 | 69 | 43 | 28 | 19 |
Illustrative Yield (30/360) at Par | 6.50 | 6.50 | 6.50 | 6.50 | 6.50 | 6.50 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 30 of 46
Group 1 Sensitivity Analysis - To 10% Optional Call |
Class 1-M-5 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.73 | 8.93 | 6.13 | 4.68 | 3.97 | 3.61 |
Modified Duration (years) | 12.28 | 6.41 | 4.83 | 3.88 | 3.37 | 3.12 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 5/25/2010 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 37 |
Principal Window (months) | 75 | 103 | 69 | 43 | 28 | 19 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.61 | 6.61 | 6.61 |
Class 1-M-6 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.73 | 8.90 | 6.11 | 4.66 | 3.95 | 3.60 |
Modified Duration (years) | 12.28 | 6.40 | 4.81 | 3.87 | 3.36 | 3.10 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 4/25/2010 |
Last Principal Payment | 3/25/2036 | 7/25/2020 | 3/25/2016 | 10/25/2013 | 7/25/2012 | 11/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 36 |
Principal Window (months) | 75 | 103 | 69 | 43 | 28 | 20 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.61 | 6.61 | 6.61 |
Class 1-M-7 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.68 | 8.72 | 5.97 | 4.56 | 3.92 | 3.49 |
Modified Duration (years) | 12.28 | 6.32 | 4.74 | 3.80 | 3.34 | 3.02 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 4/25/2010 |
Last Principal Payment | 2/25/2036 | 1/25/2020 | 11/25/2015 | 6/25/2013 | 5/25/2012 | 9/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 36 |
Principal Window (months) | 74 | 97 | 65 | 39 | 26 | 18 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.61 | 6.61 | 6.61 |
Class 1-M-8 (to call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.60 | 8.45 | 5.78 | 4.44 | 3.85 | 3.39 |
Modified Duration (years) | 12.26 | 6.20 | 4.63 | 3.72 | 3.29 | 2.95 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 4/25/2010 |
Last Principal Payment | 11/25/2035 | 2/25/2019 | 3/25/2015 | 12/25/2012 | 3/25/2012 | 5/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 36 |
Principal Window (months) | 71 | 86 | 57 | 33 | 24 | 14 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.61 | 6.61 | 6.61 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 31 of 46
Group 1 Sensitivity Analysis - To Maturity |
Class 1-A1-A (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 13.54 | 1.71 | 1.24 | 1.00 | 0.85 | 0.76 |
Modified Duration (years) | 9.05 | 1.57 | 1.16 | 0.94 | 0.81 | 0.72 |
First Principal Payment | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 |
Last Principal Payment | 9/25/2026 | 6/25/2010 | 6/25/2009 | 12/25/2008 | 8/25/2008 | 6/25/2008 |
Principal Lockout (months) | 0 | 0 | 0 | 0 | 0 | 0 |
Principal Window (months) | 234 | 39 | 27 | 21 | 17 | 15 |
Illustrative Yield (30/360) at Par | 5.58 | 5.59 | 5.59 | 5.59 | 5.60 | 5.60 |
Class 1-A1-B (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 23.74 | 5.54 | 3.90 | 3.00 | 2.37 | 1.95 |
Modified Duration (years) | 12.71 | 4.59 | 3.38 | 2.67 | 2.15 | 1.79 |
First Principal Payment | 9/25/2026 | 6/25/2010 | 6/25/2009 | 12/25/2008 | 8/25/2008 | 6/25/2008 |
Last Principal Payment | 8/25/2034 | 3/25/2016 | 3/25/2013 | 2/25/2012 | 2/25/2011 | 2/25/2010 |
Principal Lockout (months) | 233 | 38 | 26 | 20 | 16 | 14 |
Principal Window (months) | 96 | 70 | 46 | 39 | 31 | 21 |
Illustrative Yield (30/360) at Par | 5.72 | 5.72 | 5.72 | 5.73 | 5.73 | 5.73 |
Class 1-A1-C (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 28.83 | 13.92 | 9.58 | 7.17 | 5.73 | 4.69 |
Modified Duration (years) | 13.68 | 9.13 | 7.02 | 5.62 | 4.69 | 3.97 |
First Principal Payment | 8/25/2034 | 3/25/2016 | 3/25/2013 | 2/25/2012 | 2/25/2011 | 2/25/2010 |
Last Principal Payment | 2/25/2037 | 5/25/2033 | 4/25/2027 | 7/25/2022 | 6/25/2019 | 2/25/2017 |
Principal Lockout (months) | 328 | 107 | 71 | 58 | 46 | 34 |
Principal Window (months) | 31 | 207 | 170 | 126 | 101 | 85 |
Illustrative Yield (30/360) at Par | 5.86 | 5.89 | 5.9 | 5.91 | 5.9 | 5.9 |
Class 1-AM (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 20.90 | 5.80 | 4.05 | 3.09 | 2.48 | 2.06 |
Modified Duration (years) | 11.55 | 4.39 | 3.29 | 2.63 | 2.17 | 1.83 |
First Principal Payment | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 |
Last Principal Payment | 2/25/2037 | 5/25/2033 | 4/25/2027 | 7/25/2022 | 6/25/2019 | 2/25/2017 |
Principal Lockout (months) | 0 | 0 | 0 | 0 | 0 | 0 |
Principal Window (months) | 359 | 314 | 241 | 184 | 147 | 119 |
Illustrative Yield (30/360) at Par | 5.69 | 5.70 | 5.70 | 5.71 | 5.71 | 5.71 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 32 of 46
Group 1 Sensitivity Analysis - To Maturity |
Class 1-M-1 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.84 | 9.52 | 6.60 | 5.04 | 4.23 | 3.82 |
Modified Duration (years) | 13.16 | 6.86 | 5.19 | 4.17 | 3.62 | 3.32 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 5/25/2010 | 6/25/2010 |
Last Principal Payment | 12/25/2036 | 7/25/2025 | 2/25/2020 | 10/25/2016 | 7/25/2014 | 12/25/2012 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 37 | 38 |
Principal Window (months) | 84 | 163 | 116 | 79 | 51 | 31 |
Illustrative Yield (30/360) at Par | 5.93 | 5.94 | 5.94 | 5.94 | 5.94 | 5.94 |
Class 1-M-2 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.83 | 9.42 | 6.52 | 4.97 | 4.16 | 3.76 |
Modified Duration (years) | 13.09 | 6.80 | 5.14 | 4.13 | 3.56 | 3.27 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 5/25/2010 | 6/25/2010 |
Last Principal Payment | 11/25/2036 | 6/25/2024 | 5/25/2019 | 2/25/2016 | 1/25/2014 | 8/25/2012 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 37 | 38 |
Principal Window (months) | 83 | 150 | 107 | 71 | 45 | 27 |
Illustrative Yield (30/360) at Par | 5.98 | 5.99 | 5.99 | 5.99 | 5.99 | 5.99 |
Class 1-M-3 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.81 | 9.31 | 6.43 | 4.91 | 4.11 | 3.71 |
Modified Duration (years) | 12.75 | 6.68 | 5.05 | 4.06 | 3.50 | 3.21 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 5/25/2010 | 5/25/2010 |
Last Principal Payment | 9/25/2036 | 4/25/2023 | 6/25/2018 | 6/25/2015 | 6/25/2013 | 6/25/2012 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 37 | 37 |
Principal Window (months) | 81 | 136 | 96 | 63 | 38 | 26 |
Illustrative Yield (30/360) at Par | 6.24 | 6.25 | 6.26 | 6.26 | 6.25 | 6.25 |
Class 1-M-4 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.79 | 9.21 | 6.35 | 4.84 | 4.05 | 3.68 |
Modified Duration (years) | 12.42 | 6.56 | 4.96 | 3.99 | 3.44 | 3.17 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 5/25/2010 |
Last Principal Payment | 8/25/2036 | 6/25/2022 | 10/25/2017 | 12/25/2014 | 2/25/2013 | 4/25/2012 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 37 |
Principal Window (months) | 80 | 126 | 88 | 57 | 35 | 24 |
Illustrative Yield (30/360) at Par | 6.50 | 6.51 | 6.52 | 6.52 | 6.51 | 6.51 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 33 of 46
Group 1 Sensitivity Analysis - To Maturity |
Class 1-M-5 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.77 | 9.08 | 6.24 | 4.76 | 3.99 | 3.66 |
Modified Duration (years) | 12.29 | 6.48 | 4.89 | 3.93 | 3.39 | 3.15 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 5/25/2010 |
Last Principal Payment | 6/25/2036 | 10/25/2021 | 2/25/2017 | 6/25/2014 | 10/25/2012 | 3/25/2012 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 37 |
Principal Window (months) | 78 | 118 | 80 | 51 | 31 | 23 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.62 | 6.61 | 6.61 |
Class 1-M-6 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.73 | 8.92 | 6.12 | 4.67 | 3.95 | 3.60 |
Modified Duration (years) | 12.28 | 6.41 | 4.82 | 3.87 | 3.36 | 3.11 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 4/25/2010 |
Last Principal Payment | 4/25/2036 | 11/25/2020 | 6/25/2016 | 12/25/2013 | 7/25/2012 | 12/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 36 |
Principal Window (months) | 76 | 107 | 72 | 45 | 28 | 21 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.61 | 6.61 | 6.61 |
Class 1-M-7 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.68 | 8.72 | 5.97 | 4.56 | 3.92 | 3.49 |
Modified Duration (years) | 12.28 | 6.32 | 4.74 | 3.80 | 3.34 | 3.02 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 4/25/2010 |
Last Principal Payment | 2/25/2036 | 1/25/2020 | 11/25/2015 | 6/25/2013 | 5/25/2012 | 9/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 36 |
Principal Window (months) | 74 | 97 | 65 | 39 | 26 | 18 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.61 | 6.61 | 6.61 |
Class 1-M-8 (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 26.60 | 8.45 | 5.78 | 4.44 | 3.85 | 3.39 |
Modified Duration (years) | 12.26 | 6.20 | 4.63 | 3.72 | 3.29 | 2.95 |
First Principal Payment | 1/25/2030 | 1/25/2012 | 7/25/2010 | 4/25/2010 | 4/25/2010 | 4/25/2010 |
Last Principal Payment | 11/25/2035 | 2/25/2019 | 3/25/2015 | 12/25/2012 | 3/25/2012 | 5/25/2011 |
Principal Lockout (months) | 273 | 57 | 39 | 36 | 36 | 36 |
Principal Window (months) | 71 | 86 | 57 | 33 | 24 | 14 |
Illustrative Yield (30/360) at Par | 6.60 | 6.61 | 6.61 | 6.61 | 6.61 | 6.61 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 34 of 46
Group 2 Sensitivity Analysis - To 10% Optional Call |
Class 2-A (to 10% call) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 19.40 | 8.07 | 6.17 | 5.03 | 4.29 | 3.77 |
Modified Duration (years) | 10.80 | 5.86 | 4.79 | 4.08 | 3.58 | 3.21 |
First Principal Payment | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 |
Last Principal Payment | 12/25/2036 | 3/25/2025 | 11/25/2020 | 12/25/2017 | 3/25/2016 | 12/25/2014 |
Principal Lockout (months) | 0 | 0 | 0 | 0 | 0 | 0 |
Principal Window (months) | 357 | 216 | 164 | 129 | 108 | 93 |
Illustrative Yield (30/360) at Par | 5.72 | 5.72 | 5.72 | 5.72 | 5.72 | 5.73 |
Group 2 Sensitivity Analysis - To Maturity |
Class 2-A (to maturity) | ||||||
% of Prepayment Assumption | 0% | 50% | 75% | 100% | 125% | 150% |
Average Life (years) | 19.41 | 8.50 | 6.52 | 5.32 | 4.53 | 3.96 |
Modified Duration (years) | 10.80 | 5.98 | 4.93 | 4.22 | 3.71 | 3.32 |
First Principal Payment | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 | 4/25/2007 |
Last Principal Payment | 2/25/2037 | 12/25/2036 | 4/25/2033 | 9/25/2028 | 10/25/2024 | 1/25/2022 |
Principal Lockout (months) | 0 | 0 | 0 | 0 | 0 | 0 |
Principal Window (months) | 359 | 357 | 313 | 258 | 211 | 178 |
Illustrative Yield (30/360) at Par | 5.72 | 5.73 | 5.73 | 5.73 | 5.73 | 5.73 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 35 of 46
Group 1 Excess Interest - Forward Indices | |||
Period | Excess Interest (%) | Period | Excess Interest (%) |
1 | 1.48 | 45 | 1.39 |
2 | 0.92 | 46 | 1.27 |
3 | 0.75 | 47 | 1.26 |
4 | 0.98 | 48 | 1.60 |
5 | 0.88 | 49 | 1.25 |
6 | 0.97 | 50 | 1.36 |
7 | 1.21 | 51 | 1.24 |
8 | 1.11 | 52 | 1.35 |
9 | 1.24 | 53 | 1.23 |
10 | 1.20 | 54 | 1.23 |
11 | 1.22 | 55 | 1.34 |
12 | 1.35 | 56 | 1.22 |
13 | 1.25 | 57 | 1.34 |
14 | 1.33 | 58 | 1.20 |
15 | 1.28 | 59 | 1.25 |
16 | 1.36 | 60 | 2.16 |
17 | 1.30 | 61 | 1.82 |
18 | 1.31 | 62 | 1.98 |
19 | 1.38 | 63 | 1.78 |
20 | 1.31 | 64 | 1.94 |
21 | 1.39 | 65 | 1.75 |
22 | 1.32 | 66 | 1.76 |
23 | 1.32 | 67 | 1.92 |
24 | 1.57 | 68 | 1.74 |
25 | 1.32 | 69 | 1.90 |
26 | 1.41 | 70 | 1.73 |
27 | 1.33 | 71 | 1.73 |
28 | 1.41 | 72 | 2.26 |
29 | 1.32 | 73 | 1.74 |
30 | 1.32 | 74 | 1.92 |
31 | 1.41 | 75 | 1.74 |
32 | 1.31 | 76 | 1.92 |
33 | 1.40 | 77 | 1.75 |
34 | 1.30 | 78 | 1.76 |
35 | 1.29 | 79 | 1.93 |
36 | 1.60 | ||
37 | 1.37 | ||
38 | 1.46 | ||
39 | 1.34 | ||
40 | 1.44 | ||
41 | 1.32 | ||
42 | 1.31 | ||
43 | 1.41 | ||
44 | 1.29 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 36 of 46
Group 1 Available Funds Cap -Indices @ Spot | |||||
Period | Class 1-A , 1-M, 1-B (%) | Period | Class 1-A, 1-M, 1-B (%) | ||
1 | 7.16 | 41 | 6.33 | ||
2 | 6.44 | 42 | 6.33 | ||
3 | 6.23 | 43 | 6.54 | ||
4 | 6.44 | 44 | 6.33 | ||
5 | 6.23 | 45 | 6.54 | ||
6 | 6.24 | 46 | 6.32 | ||
7 | 6.44 | 47 | 6.32 | ||
8 | 6.24 | 48 | 6.98 | ||
9 | 6.44 | 49 | 6.32 | ||
10 | 6.24 | 50 | 6.54 | ||
11 | 6.24 | 51 | 6.32 | ||
12 | 6.67 | 52 | 6.54 | ||
13 | 6.24 | 53 | 6.32 | ||
14 | 6.45 | 54 | 6.32 | ||
15 | 6.24 | 55 | 6.54 | ||
16 | 6.45 | 56 | 6.33 | ||
17 | 6.24 | 57 | 6.54 | ||
18 | 6.24 | 58 | 6.33 | ||
19 | 6.45 | 59 | 6.40 | ||
20 | 6.24 | 60 | 7.63 | ||
21 | 6.45 | 61 | 7.15 | ||
22 | 6.24 | 62 | 7.37 | ||
23 | 6.24 | 63 | 7.11 | ||
24 | 6.87 | 64 | 7.33 | ||
25 | 6.25 | 65 | 7.07 | ||
26 | 6.46 | 66 | 7.05 | ||
27 | 6.25 | 67 | 7.27 | ||
28 | 6.46 | 68 | 7.02 | ||
29 | 6.25 | 69 | 7.24 | ||
30 | 6.25 | 70 | 7.00 | ||
31 | 6.46 | 71 | 7.00 | ||
32 | 6.25 | 72 | 7.74 | ||
33 | 6.46 | 73 | 6.99 | ||
34 | 6.25 | 74 | 7.22 | ||
35 | 6.25 | 75 | 6.98 | ||
36 | 6.93 | 76 | 7.21 | ||
37 | 6.35 | 77 | 6.97 | ||
38 | 6.55 | 78 | 6.97 | ||
39 | 6.34 | 79 | 7.20 | ||
40 | 6.55 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 37 of 46
Group 1 Available Funds Cap -Indices @ 20% | |||||
Period | Class 1-A , 1-M, 1-B (%) | Period | Class 1-A, 1-M, 1-B (%) | ||
1 | 7.16 | 41 | 6.38 | ||
2 | 6.44 | 42 | 6.39 | ||
3 | 6.23 | 43 | 6.62 | ||
4 | 6.44 | 44 | 6.40 | ||
5 | 6.23 | 45 | 6.61 | ||
6 | 6.24 | 46 | 6.40 | ||
7 | 6.44 | 47 | 6.40 | ||
8 | 6.24 | 48 | 7.09 | ||
9 | 6.44 | 49 | 6.42 | ||
10 | 6.24 | 50 | 6.64 | ||
11 | 6.24 | 51 | 6.42 | ||
12 | 6.67 | 52 | 6.63 | ||
13 | 6.24 | 53 | 6.42 | ||
14 | 6.45 | 54 | 6.43 | ||
15 | 6.24 | 55 | 6.66 | ||
16 | 6.45 | 56 | 6.44 | ||
17 | 6.24 | 57 | 6.66 | ||
18 | 6.24 | 58 | 6.45 | ||
19 | 6.45 | 59 | 6.69 | ||
20 | 6.24 | 60 | 8.70 | ||
21 | 6.45 | 61 | 8.15 | ||
22 | 6.25 | 62 | 8.38 | ||
23 | 6.25 | 63 | 8.07 | ||
24 | 6.93 | 64 | 8.29 | ||
25 | 6.26 | 65 | 7.99 | ||
26 | 6.47 | 66 | 8.35 | ||
27 | 6.26 | 67 | 8.59 | ||
28 | 6.47 | 68 | 8.27 | ||
29 | 6.26 | 69 | 8.51 | ||
30 | 6.26 | 70 | 8.22 | ||
31 | 6.47 | 71 | 8.21 | ||
32 | 6.26 | 72 | 9.47 | ||
33 | 6.47 | 73 | 8.55 | ||
34 | 6.27 | 74 | 8.82 | ||
35 | 6.28 | 75 | 8.52 | ||
36 | 7.01 | 76 | 8.79 | ||
37 | 6.40 | 77 | 8.49 | ||
38 | 6.61 | 78 | 8.75 | ||
39 | 6.39 | 79 | 9.04 | ||
40 | 6.60 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 38 of 46
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 39 of 46
Group 2 Excess Interest - Forward Indices | |||||||
Period | Class 2-A (%) | Period | Class 2-A (%) | Period | Class 2-A (%) | Period | Class 2-A (%) |
1 | 1.11 | 41 | 0.96 | 81 | 2.09 | 121 | 2.26 |
2 | 0.58 | 42 | 0.96 | 82 | 2.06 | 122 | 2.42 |
3 | 0.42 | 43 | 1.01 | 83 | 2.13 | 123 | 2.26 |
4 | 0.62 | 44 | 0.96 | 84 | 2.12 | 124 | 2.42 |
5 | 0.56 | 45 | 1.01 | 85 | 2.21 | 125 | 2.25 |
6 | 0.62 | 46 | 0.96 | 86 | 2.09 | 126 | 2.25 |
7 | 0.73 | 47 | 0.97 | 87 | 2.00 | 127 | 2.41 |
8 | 0.69 | 48 | 1.09 | 88 | 1.88 | 128 | 2.25 |
9 | 0.80 | 49 | 0.97 | 89 | 1.80 | 129 | 2.41 |
10 | 0.75 | 50 | 1.02 | 90 | 1.68 | ||
11 | 0.78 | 51 | 1.01 | 91 | 1.68 | ||
12 | 0.95 | 52 | 1.08 | 92 | 1.66 | ||
13 | 0.83 | 53 | 1.06 | 93 | 1.68 | ||
14 | 0.92 | 54 | 1.07 | 94 | 1.66 | ||
15 | 0.87 | 55 | 1.14 | 95 | 1.67 | ||
16 | 0.95 | 56 | 1.09 | 96 | 1.69 | ||
17 | 0.90 | 57 | 1.17 | 97 | 1.67 | ||
18 | 0.90 | 58 | 1.12 | 98 | 1.72 | ||
19 | 0.98 | 59 | 1.48 | 99 | 1.67 | ||
20 | 0.92 | 60 | 1.67 | 100 | 1.73 | ||
21 | 0.98 | 61 | 1.53 | 101 | 1.68 | ||
22 | 0.92 | 62 | 1.62 | 102 | 1.68 | ||
23 | 0.92 | 63 | 1.56 | 103 | 1.76 | ||
24 | 1.10 | 64 | 1.65 | 104 | 1.67 | ||
25 | 0.92 | 65 | 1.62 | 105 | 1.77 | ||
26 | 0.98 | 66 | 1.64 | 106 | 1.65 | ||
27 | 0.93 | 67 | 1.73 | 107 | 1.67 | ||
28 | 0.99 | 68 | 1.67 | 108 | 1.80 | ||
29 | 0.93 | 69 | 1.77 | 109 | 1.66 | ||
30 | 0.93 | 70 | 1.71 | 110 | 1.81 | ||
31 | 1.00 | 71 | 1.75 | 111 | 1.65 | ||
32 | 0.94 | 72 | 2.00 | 112 | 1.81 | ||
33 | 1.00 | 73 | 1.80 | 113 | 1.66 | ||
34 | 0.94 | 74 | 1.89 | 114 | 1.66 | ||
35 | 0.95 | 75 | 1.85 | 115 | 1.82 | ||
36 | 1.12 | 76 | 1.94 | 116 | 1.66 | ||
37 | 0.95 | 77 | 1.91 | 117 | 1.82 | ||
38 | 1.01 | 78 | 1.93 | 118 | 1.69 | ||
39 | 0.95 | 79 | 2.03 | 119 | 2.21 | ||
40 | 1.01 | 80 | 1.99 | 120 | 2.74 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 40 of 46
Group 2 Available Funds Cap -Indices @ Spot | |||||||
Period | Class 2-A (%) | Period | Class 2-A (%) | Period | Class 2-A (%) | Period | Class 2-A (%) |
1 | 6.54 | 41 | 5.74 | 81 | 6.57 | 121 | 7.10 |
2 | 5.88 | 42 | 5.74 | 82 | 6.40 | 122 | 7.34 |
3 | 5.70 | 43 | 5.92 | 83 | 6.43 | 123 | 7.10 |
4 | 5.88 | 44 | 5.74 | 84 | 6.83 | 124 | 7.34 |
5 | 5.70 | 45 | 5.92 | 85 | 6.46 | 125 | 7.10 |
6 | 5.70 | 46 | 5.74 | 86 | 6.67 | 126 | 7.10 |
7 | 5.88 | 47 | 5.74 | 87 | 6.46 | 127 | 7.34 |
8 | 5.70 | 48 | 6.08 | 88 | 6.67 | 128 | 7.10 |
9 | 5.88 | 49 | 5.74 | 89 | 6.45 | 129 | 7.33 |
10 | 5.70 | 50 | 5.91 | 90 | 6.45 | ||
11 | 5.70 | 51 | 5.74 | 91 | 6.67 | ||
12 | 5.99 | 52 | 5.92 | 92 | 6.45 | ||
13 | 5.70 | 53 | 5.74 | 93 | 6.67 | ||
14 | 5.88 | 54 | 5.74 | 94 | 6.46 | ||
15 | 5.70 | 55 | 5.93 | 95 | 6.46 | ||
16 | 5.88 | 56 | 5.74 | 96 | 6.82 | ||
17 | 5.70 | 57 | 5.92 | 97 | 6.47 | ||
18 | 5.70 | 58 | 5.74 | 98 | 6.68 | ||
19 | 5.88 | 59 | 6.24 | 99 | 6.47 | ||
20 | 5.70 | 60 | 6.63 | 100 | 6.69 | ||
21 | 5.88 | 61 | 6.29 | 101 | 6.48 | ||
22 | 5.70 | 62 | 6.50 | 102 | 6.48 | ||
23 | 5.70 | 63 | 6.30 | 103 | 6.70 | ||
24 | 6.08 | 64 | 6.51 | 104 | 6.48 | ||
25 | 5.70 | 65 | 6.30 | 105 | 6.70 | ||
26 | 5.88 | 66 | 6.31 | 106 | 6.49 | ||
27 | 5.70 | 67 | 6.52 | 107 | 6.49 | ||
28 | 5.88 | 68 | 6.31 | 108 | 6.81 | ||
29 | 5.70 | 69 | 6.53 | 109 | 6.50 | ||
30 | 5.70 | 70 | 6.32 | 110 | 6.72 | ||
31 | 5.88 | 71 | 6.32 | 111 | 6.50 | ||
32 | 5.70 | 72 | 6.84 | 112 | 6.72 | ||
33 | 5.88 | 73 | 6.33 | 113 | 6.51 | ||
34 | 5.70 | 74 | 6.55 | 114 | 6.51 | ||
35 | 5.74 | 75 | 6.34 | 115 | 6.73 | ||
36 | 6.11 | 76 | 6.55 | 116 | 6.51 | ||
37 | 5.74 | 77 | 6.35 | 117 | 6.73 | ||
38 | 5.92 | 78 | 6.35 | 118 | 6.55 | ||
39 | 5.74 | 79 | 6.57 | 119 | 7.07 | ||
40 | 5.92 | 80 | 6.36 | 120 | 7.87 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 41 of 46
Group 2 Available Funds Cap -Indices @ 20% | |||||||
Period | Class 2-A (%) | Period | Class 2-A (%) | Period | Class 2-A (%) | Period | Class 2-A (%) |
1 | 6.54 | 41 | 5.83 | 81 | 8.79 | 121 | 10.44 |
2 | 5.89 | 42 | 5.83 | 82 | 8.59 | 122 | 10.80 |
3 | 5.70 | 43 | 6.02 | 83 | 8.68 | 123 | 10.45 |
4 | 5.89 | 44 | 5.83 | 84 | 9.67 | 124 | 10.84 |
5 | 5.70 | 45 | 6.02 | 85 | 8.75 | 125 | 10.80 |
6 | 5.70 | 46 | 5.83 | 86 | 9.05 | 126 | 10.83 |
7 | 5.89 | 47 | 5.85 | 87 | 8.76 | 127 | 11.19 |
8 | 5.70 | 48 | 6.48 | 88 | 9.09 | 128 | 10.84 |
9 | 5.89 | 49 | 5.85 | 89 | 8.83 | 129 | 11.20 |
10 | 5.70 | 50 | 6.05 | 90 | 8.85 | ||
11 | 5.70 | 51 | 5.85 | 91 | 9.16 | ||
12 | 6.09 | 52 | 6.05 | 92 | 8.87 | ||
13 | 5.70 | 53 | 5.88 | 93 | 9.18 | ||
14 | 5.89 | 54 | 5.88 | 94 | 8.92 | ||
15 | 5.70 | 55 | 6.08 | 95 | 8.96 | ||
16 | 5.89 | 56 | 5.88 | 96 | 9.95 | ||
17 | 5.70 | 57 | 6.07 | 97 | 9.00 | ||
18 | 5.70 | 58 | 5.90 | 98 | 9.31 | ||
19 | 5.89 | 59 | 6.97 | 99 | 9.02 | ||
20 | 5.70 | 60 | 7.55 | 100 | 9.36 | ||
21 | 5.89 | 61 | 7.07 | 101 | 9.10 | ||
22 | 5.70 | 62 | 7.31 | 102 | 9.12 | ||
23 | 5.70 | 63 | 7.08 | 103 | 9.44 | ||
24 | 6.31 | 64 | 7.33 | 104 | 9.15 | ||
25 | 5.70 | 65 | 7.50 | 105 | 9.46 | ||
26 | 5.89 | 66 | 7.53 | 106 | 9.17 | ||
27 | 5.70 | 67 | 7.80 | 107 | 9.18 | ||
28 | 5.89 | 68 | 7.55 | 108 | 9.82 | ||
29 | 5.70 | 69 | 7.81 | 109 | 9.20 | ||
30 | 5.70 | 70 | 7.58 | 110 | 9.52 | ||
31 | 5.89 | 71 | 7.99 | 111 | 9.22 | ||
32 | 5.70 | 72 | 8.89 | 112 | 9.54 | ||
33 | 5.89 | 73 | 8.04 | 113 | 9.24 | ||
34 | 5.71 | 74 | 8.32 | 114 | 9.26 | ||
35 | 5.79 | 75 | 8.06 | 115 | 9.57 | ||
36 | 6.42 | 76 | 8.35 | 116 | 9.28 | ||
37 | 5.80 | 77 | 8.42 | 117 | 9.60 | ||
38 | 5.99 | 78 | 8.47 | 118 | 9.40 | ||
39 | 5.80 | 79 | 8.76 | 119 | 10.36 | ||
40 | 5.99 | 80 | 8.49 | 120 | 11.56 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 42 of 46
Group 1 Swap Agreement Notional Balance Schedule
Period | Notional Balance ($) | Rate (%) | Period | Notional Balance ($) | Rate(%) |
1 | 926,923,120.00 | 5.04278 | 43 | 142,216,456.53 | 5.02723 |
2 | 921,060,281.16 | 5.04283 | 44 | 137,856,990.06 | 5.02723 |
3 | 911,816,416.34 | 5.04286 | 45 | 133,629,967.14 | 5.02723 |
4 | 899,140,908.27 | 5.04287 | 46 | 129,531,494.63 | 5.02723 |
5 | 883,014,097.50 | 5.04287 | 47 | 125,557,511.85 | 5.02723 |
6 | 863,447,920.28 | 5.04284 | 48 | 121,704,500.59 | 5.02723 |
7 | 840,490,180.72 | 5.04280 | 49 | 117,968,674.95 | 5.02723 |
8 | 814,230,839.08 | 5.04273 | 50 | 114,346,521.33 | 5.02723 |
9 | 784,819,533.81 | 5.04263 | 51 | 110,834,668.34 | 5.02723 |
10 | 752,470,487.02 | 5.04250 | 52 | 107,429,746.74 | 5.02723 |
11 | 718,501,223.34 | 5.04232 | 53 | 104,128,499.36 | 5.02723 |
12 | 683,260,413.12 | 5.04204 | 54 | 100,927,691.06 | 5.02723 |
13 | 649,432,954.17 | 5.04178 | 55 | 97,824,358.65 | 5.02723 |
14 | 617,237,264.80 | 5.04153 | 56 | 94,815,600.86 | 5.02723 |
15 | 586,595,124.82 | 5.04126 | 57 | 91,898,528.22 | 5.02723 |
16 | 557,431,882.58 | 5.04099 | 58 | 77,974,653.10 | 5.05179 |
17 | 529,676,574.58 | 5.04072 | 59 | 40,437,859.57 | 5.08955 |
18 | 503,261,494.06 | 5.04043 | 60 | 17,001,443.40 | 4.91443 |
19 | 478,122,437.88 | 5.04014 | 61 | 1,683,591.99 | 4.91900 |
20 | 454,198,281.36 | 5.03985 | 62 | 1,631,694.30 | 4.91900 |
21 | 431,430,415.82 | 5.03954 | 63 | 1,581,380.86 | 4.91900 |
22 | 409,763,333.29 | 5.03956 | 64 | 1,532,603.67 | 4.91900 |
23 | 388,935,239.64 | 5.03923 | 65 | 1,485,316.19 | 4.91900 |
24 | 369,055,755.29 | 5.03890 | 66 | 1,439,473.26 | 4.91900 |
25 | 349,917,762.96 | 5.03855 | 67 | 1,395,031.10 | 4.91900 |
26 | 331,691,588.04 | 5.03818 | 68 | 1,351,947.24 | 4.91900 |
27 | 314,460,162.00 | 5.03781 | 69 | 1,310,180.48 | 4.91900 |
28 | 298,150,731.66 | 5.03744 | 70 | 1,269,690.89 | 4.91900 |
29 | 282,699,778.48 | 5.03706 | 71 | 1,230,439.72 | 4.91900 |
30 | 268,065,485.57 | 5.03667 | 72 | 1,192,389.39 | 4.91900 |
31 | 254,192,756.79 | 5.03627 | 73 | 1,155,503.47 | 4.91900 |
32 | 241,045,890.63 | 5.03586 | 74 | 1,119,746.60 | 4.91900 |
33 | 228,573,225.49 | 5.03544 | 75 | 1,085,084.50 | 4.91900 |
34 | 216,718,022.90 | 5.03501 | 76 | 1,051,483.95 | 4.91900 |
35 | 215,174,568.37 | 5.03548 | 77 | 1,018,912.68 | 4.91900 |
36 | 229,394,896.12 | 5.03349 | 78 | 987,339.44 | 4.91900 |
37 | 171,396,041.21 | 5.02722 | 79 | 956,733.91 | 4.91900 |
38 | 166,150,337.31 | 5.02722 | 80 | 927,066.66 | 4.91900 |
39 | 161,063,882.82 | 5.02722 | 81 | 898,309.19 | 4.91900 |
40 | 156,131,777.89 | 5.02722 | |||
41 | 151,349,585.69 | 5.02723 | |||
42 | 146,712,602.28 | 5.02723 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 43 of 46
Group 1 Yield Maintenance Agreement I Notional Balance Schedule
Period | Notional Balance ($) | Cap Rate (%) | Period | Notional Balance ($) | Cap Rate (%) |
1 | 258,606,880.00 | 5.14525 | 31 | 117,188,855.00 | 5.14610 |
2 | 256,989,905.00 | 5.14532 | 32 | 113,607,570.00 | 5.14610 |
3 | 254,808,565.00 | 5.14540 | 33 | 110,135,005.00 | 5.14610 |
4 | 252,061,780.00 | 5.14548 | 34 | 106,767,830.00 | 5.14611 |
5 | 248,751,905.00 | 5.14556 | 35 | 93,734,190.00 | 5.15888 |
6 | 244,884,880.00 | 5.14564 | 36 | 65,468,970.00 | 5.13926 |
7 | 240,470,395.00 | 5.14573 | 37 | 63,465,830.00 | 5.13926 |
8 | 235,522,085.00 | 5.14582 | 38 | 61,523,440.00 | 5.13926 |
9 | 230,056,970.00 | 5.14591 | 39 | 59,640,000.00 | 5.13926 |
10 | 224,096,125.00 | 5.14600 | 40 | 57,813,740.00 | 5.13926 |
11 | 217,664,315.00 | 5.14610 | 41 | 56,042,940.00 | 5.13926 |
12 | 211,043,050.00 | 5.14610 | 42 | 54,326,000.00 | 5.13926 |
13 | 204,621,910.00 | 5.14610 | 43 | 52,661,130.00 | 5.13926 |
14 | 198,394,810.00 | 5.14610 | 44 | 51,046,870.00 | 5.13926 |
15 | 192,355,825.00 | 5.14610 | 45 | 49,481,710.00 | 5.13926 |
16 | 186,499,390.00 | 5.14610 | 46 | 47,964,100.00 | 5.13926 |
17 | 180,819,995.00 | 5.14610 | 47 | 46,492,610.00 | 5.13926 |
18 | 175,312,440.00 | 5.14610 | 48 | 45,065,860.00 | 5.13926 |
19 | 169,971,420.00 | 5.14610 | 49 | 43,682,590.00 | 5.13926 |
20 | 164,791,790.00 | 5.14610 | 50 | 42,341,350.00 | 5.13926 |
21 | 159,768,975.00 | 5.14610 | 51 | 41,040,940.00 | 5.13927 |
22 | 154,898,240.00 | 5.14610 | 52 | 39,780,180.00 | 5.13927 |
23 | 150,174,805.00 | 5.14610 | 53 | 38,557,790.00 | 5.13927 |
24 | 145,594,300.00 | 5.14610 | 54 | 37,372,580.00 | 5.13927 |
25 | 141,152,465.00 | 5.14610 | 55 | 36,223,440.00 | 5.13927 |
26 | 136,845,240.00 | 5.14610 | 56 | 35,109,350.00 | 5.13927 |
27 | 132,668,365.00 | 5.14610 | 57 | 34,029,210.00 | 5.13927 |
28 | 128,618,095.00 | 5.14610 | 58 | 32,981,990.00 | 5.13927 |
29 | 124,690,530.00 | 5.14610 | 59 | 17,172,360.00 | 5.19539 |
30 | 120,881,980.00 | 5.14610 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 44 of 46
Group 1 Yield Maintenance Agreement II Notional Balance Schedule
Period | Notional Balance ($) | Period | Notional Balance ($) |
59 | 257,406,829.21 | 72 | 138,031,729.59 |
60 | 242,452,629.91 | 73 | 133,891,860.65 |
61 | 228,156,091.02 | 74 | 129,876,512.54 |
62 | 214,909,564.77 | 75 | 125,981,772.96 |
63 | 202,628,835.52 | 76 | 122,203,857.00 |
64 | 191,238,695.56 | 77 | 118,539,103.06 |
65 | 180,672,422.64 | 78 | 114,983,968.64 |
66 | 170,979,755.90 | ||
67 | 163,110,548.80 | ||
68 | 156,648,474.37 | ||
69 | 151,269,673.50 | ||
70 | 146,701,343.62 | ||
71 | 142,300,163.65 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 45 of 46
Group 2 Swap Agreement Notional Balance Schedule
Period | Notional Balance ($) | Rate (%) | Period | Notional Balance ($) | Rate (%) | Period | Notional Balance ($) | Rate (%) | ||
1 | 123,094,237.40 | 5.33325 | 41 | 99,574,185.60 | 5.33714 | 81 | 27,827,192.00 | 5.33534 | ||
2 | 122,867,859.40 | 5.33324 | 42 | 99,291,962.20 | 5.33715 | 82 | 26,962,816.40 | 5.33534 | ||
3 | 122,632,075.20 | 5.33323 | 43 | 99,010,294.80 | 5.33717 | 83 | 26,124,969.80 | 5.33534 | ||
4 | 122,386,952.40 | 5.33323 | 44 | 98,729,198.60 | 5.33718 | 84 | 63,056,826.35 | 5.28425 | ||
5 | 122,132,393.20 | 5.33323 | 45 | 98,448,737.60 | 5.33720 | 85 | 61,004,282.05 | 5.28431 | ||
6 | 121,868,511.20 | 5.33322 | 46 | 98,168,903.00 | 5.33721 | 86 | 59,007,329.82 | 5.28436 | ||
7 | 121,595,369.20 | 5.33322 | 47 | 97,889,610.60 | 5.33722 | 87 | 58,267,803.82 | 5.28371 | ||
8 | 121,313,144.20 | 5.33322 | 48 | 97,610,784.20 | 5.33724 | 88 | 57,551,023.22 | 5.28307 | ||
9 | 121,021,973.40 | 5.33322 | 49 | 97,332,541.40 | 5.33725 | 89 | 56,856,305.02 | 5.28243 | ||
10 | 120,721,746.60 | 5.33322 | 50 | 95,990,912.80 | 5.33881 | 90 | 56,182,958.82 | 5.28179 | ||
11 | 120,412,540.80 | 5.33323 | 51 | 86,599,548.60 | 5.33541 | 91 | 55,530,324.02 | 5.28116 | ||
12 | 120,094,621.20 | 5.33323 | 52 | 80,753,545.40 | 5.32947 | 92 | 54,897,785.02 | 5.28054 | ||
13 | 119,768,077.60 | 5.33323 | 53 | 74,395,417.40 | 5.31420 | 93 | 54,284,731.82 | 5.27992 | ||
14 | 119,432,899.80 | 5.33324 | 54 | 73,828,441.80 | 5.31256 | 94 | 53,444,422.76 | 5.27944 | ||
15 | 119,089,488.20 | 5.33324 | 55 | 71,646,412.40 | 5.30952 | 95 | 51,990,365.94 | 5.27932 | ||
16 | 118,740,232.60 | 5.33325 | 56 | 63,041,030.80 | 5.32392 | 96 | 50,575,740.67 | 5.27919 | ||
17 | 118,387,004.40 | 5.33326 | 57 | 61,428,128.60 | 5.32259 | 97 | 49,199,494.97 | 5.27907 | ||
18 | 118,031,179.40 | 5.33327 | 58 | 59,593,266.00 | 5.32227 | 98 | 47,860,570.54 | 5.27895 | ||
19 | 117,672,725.20 | 5.33329 | 59 | 57,814,097.80 | 5.32193 | 99 | 46,557,943.77 | 5.27883 | ||
20 | 117,312,966.00 | 5.33331 | 60 | 56,088,946.60 | 5.32159 | 100 | 45,290,629.07 | 5.27871 | ||
21 | 116,953,707.00 | 5.33333 | 61 | 54,416,160.80 | 5.32124 | 101 | 44,057,695.19 | 5.27858 | ||
22 | 116,595,629.20 | 5.33336 | 62 | 52,794,154.40 | 5.32088 | 102 | 42,858,190.11 | 5.27846 | ||
23 | 116,238,682.20 | 5.33338 | 63 | 51,221,394.40 | 5.32051 | 103 | 41,691,194.15 | 5.27834 | ||
24 | 115,882,786.60 | 5.33340 | 64 | 49,696,378.60 | 5.32013 | 104 | 40,555,850.55 | 5.27822 | ||
25 | 115,527,996.20 | 5.33342 | 65 | 48,217,665.00 | 5.31975 | 105 | 39,451,296.13 | 5.27810 | ||
26 | 115,174,143.00 | 5.33345 | 66 | 46,783,892.00 | 5.31935 | 106 | 38,376,674.67 | 5.27798 | ||
27 | 112,400,240.60 | 5.33609 | 67 | 45,393,668.00 | 5.31895 | 107 | 37,331,189.89 | 5.27786 | ||
28 | 110,332,117.60 | 5.33525 | 68 | 44,045,649.60 | 5.31853 | 108 | 36,314,058.10 | 5.27774 | ||
29 | 109,138,992.60 | 5.33383 | 69 | 42,738,586.20 | 5.31811 | 109 | 35,324,487.08 | 5.27762 | ||
30 | 108,816,060.00 | 5.33386 | 70 | 41,471,223.40 | 5.31767 | 110 | 34,361,740.93 | 5.27750 | ||
31 | 104,170,458.20 | 5.33430 | 71 | 40,242,349.20 | 5.31723 | 111 | 33,425,095.54 | 5.27738 | ||
32 | 102,143,035.00 | 5.33700 | 72 | 39,050,831.00 | 5.31677 | 112 | 32,069,907.68 | 5.27392 | ||
33 | 101,854,980.40 | 5.33701 | 73 | 37,895,512.60 | 5.31630 | 113 | 29,532,618.25 | 5.25230 | ||
34 | 101,567,621.20 | 5.33703 | 74 | 36,775,283.00 | 5.31582 | 114 | 7,172,425.40 | 5.23464 | ||
35 | 101,280,887.20 | 5.33704 | 75 | 35,689,094.80 | 5.31533 | 115 | 5,059,925.00 | 5.16379 | ||
36 | 100,994,909.60 | 5.33706 | 76 | 34,635,921.20 | 5.31483 | 116 | 1,432,390.00 | 5.09500 | ||
37 | 100,709,485.00 | 5.33708 | 77 | 33,614,754.40 | 5.31432 | |||||
38 | 100,424,663.40 | 5.33709 | 78 | 32,624,619.80 | 5.31380 | |||||
39 | 100,140,519.40 | 5.33711 | 79 | 31,664,591.00 | 5.31326 | |||||
40 | 99,856,967.20 | 5.33712 | 80 | 30,733,728.40 | 5.31271 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 46 of 46
Group 2 Yield Maintenance Agreement Notional Balance Schedule
Period | Notional Balance ($) | Cap Rate (%) | Period | Notional Balance ($) | Cap Rate (%) |
1 | 59,823,600.00 | 4.98150 | 42 | 37,474,650.00 | 4.98200 |
2 | 59,720,400.00 | 4.98150 | 43 | 37,273,500.00 | 4.98200 |
3 | 59,607,000.00 | 4.98150 | 44 | 37,073,700.00 | 4.98200 |
4 | 59,484,000.00 | 4.98150 | 45 | 36,874,800.00 | 4.98200 |
5 | 59,350,800.00 | 4.98150 | 46 | 36,676,800.00 | 4.98200 |
6 | 59,208,000.00 | 4.98150 | 47 | 36,480,150.00 | 4.98200 |
7 | 59,055,600.00 | 4.98150 | 48 | 36,284,400.00 | 4.98200 |
8 | 58,893,000.00 | 4.98150 | 49 | 36,090,000.00 | 4.98200 |
9 | 58,720,800.00 | 4.98150 | 50 | 35,896,500.00 | 4.98200 |
10 | 58,539,000.00 | 4.98150 | 51 | 35,703,900.00 | 4.98200 |
11 | 58,347,600.00 | 4.98150 | 52 | 35,512,200.00 | 4.98200 |
12 | 58,147,200.00 | 4.98150 | 53 | 35,321,850.00 | 4.98200 |
13 | 57,937,200.00 | 4.98150 | 54 | 35,132,400.00 | 4.98200 |
14 | 57,717,600.00 | 4.98150 | 55 | 34,943,850.00 | 4.98200 |
15 | 57,489,000.00 | 4.98150 | 56 | 34,756,200.00 | 4.98200 |
16 | 57,251,400.00 | 4.98150 | 57 | 34,569,900.00 | 4.98200 |
17 | 57,004,800.00 | 4.98150 | 58 | 34,384,500.00 | 4.98200 |
18 | 56,749,200.00 | 4.98150 | 59 | 11,400,000.00 | 4.92600 |
19 | 56,484,600.00 | 4.98150 | 60 | 11,338,800.00 | 4.92600 |
20 | 56,211,600.00 | 4.98150 | 61 | 11,278,050.00 | 4.92600 |
21 | 55,930,200.00 | 4.98150 | 62 | 11,217,600.00 | 4.92600 |
22 | 55,639,800.00 | 4.98150 | 63 | 11,157,450.00 | 4.92600 |
23 | 55,341,600.00 | 4.98150 | 64 | 11,097,600.00 | 4.92600 |
24 | 55,044,600.00 | 4.98150 | 65 | 11,038,050.00 | 4.92600 |
25 | 54,749,400.00 | 4.98150 | 66 | 10,978,800.00 | 4.92600 |
26 | 54,456,000.00 | 4.98150 | 67 | 10,919,850.00 | 4.92600 |
27 | 54,163,800.00 | 4.98150 | 68 | 10,861,350.00 | 4.92600 |
28 | 53,873,400.00 | 4.98150 | 69 | 10,803,150.00 | 4.92600 |
29 | 53,584,200.00 | 4.98150 | 70 | 10,745,250.00 | 4.92600 |
30 | 53,296,800.00 | 4.98150 | 71 | 10,687,650.00 | 4.92600 |
31 | 53,011,200.00 | 4.98150 | 72 | 10,630,350.00 | 4.92600 |
32 | 52,726,800.00 | 4.98150 | 73 | 10,573,350.00 | 4.92600 |
33 | 52,444,200.00 | 4.98150 | 74 | 10,516,650.00 | 4.92600 |
34 | 52,162,800.00 | 4.98150 | 75 | 10,460,250.00 | 4.92600 |
35 | 38,912,400.00 | 4.98200 | 76 | 10,404,150.00 | 4.92600 |
36 | 38,703,600.00 | 4.98200 | 77 | 10,348,350.00 | 4.92600 |
37 | 38,496,150.00 | 4.98200 | 78 | 10,292,850.00 | 4.92600 |
38 | 38,289,600.00 | 4.98200 | 79 | 10,237,650.00 | 4.92600 |
39 | 38,084,400.00 | 4.98200 | 80 | 10,182,750.00 | 4.92600 |
40 | 37,880,100.00 | 4.98200 | 81 | 10,128,150.00 | 4.92600 |
41 | 37,676,700.00 | 4.98200 | 82 | 10,073,850.00 | 4.92600 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 47 of 46
Contact Information |
Bear Stearns’ Banking Contacts | ||
Name: | Telephone: | E-Mail: |
Matthew Perkins Senior Managing Director | (212) 272-7977 | mperkins@bear.com |
Josephine Musso Managing Director | (212) 272-6033 | jmusso@bear.com |
Andrew Wernick Vice-President | (212) 272-5451 | awernick@bear.com |
Jacqueline Amato Analyst / Collateral | (212) 272-9529 | jamato@bear.com |
Bear Stearns’ Trading Contacts | ||
Name: | Telephone: | E-Mail: |
Scott Eichel Senior Managing Director | (212) 272-5451 | seichel@bear.com |
Carol Fuller Senior Managing Director | (212) 272-4955 | cfuller@bear.com |
Jayme Fagas Managing Director | (212) 272-4955 | jfagas@bear.com |
Rating Agency Contacts | ||
Name: | Telephone: | E-Mail: |
Rachel Peng Moody’s | (212) 553-3831 | rachel.peng@moodys.com |
Daniel Hall Standard and Poor’s | (212) 438-1576 | Daniel_Hall@standardandpoors.com |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | BEAR, STEARNS & CO. INC. | |
ATLANTA • BOSTON • CHICAGO | ASSET-BACKED SECURITIES GROUP | |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue | |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 | |
LONDON • PARIS • TOKYO | (212) 272-2000 |
Part II of II
New Issue Computational Materials
$[1,400,003,000] (Approximate)
Impac Secured Assets Corp.,
Pass-Through Certificates, Series 2007-2
![](https://capedge.com/proxy/FWP/0001144204-07-015877/impac-logo.jpg)
Impac Funding Corporation
Seller and Master Servicer
Impac Secured Assets Corp.
Depositor
Ambac Assurance Corporation
Certificate Insurer
![](https://capedge.com/proxy/FWP/0001144204-07-015877/ambac.jpg)
March 20, 2007 (Revised March 26, 2007)
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | BEAR, STEARNS & CO. INC. | |
ATLANTA • BOSTON • CHICAGO | ASSET-BACKED SECURITIES GROUP | |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue | |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 | |
LONDON • PARIS • TOKYO | (212) 272-2000 |
STATEMENT REGARDING FREE WRITING PROSPECTUS
The issuer has filed a registration statement (File No. 333-131328) (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus you request it by calling toll free 1-866-803-9204.
This free writing prospectus does not contain all information that is required to be included in the base prospectus and the prospectus supplement.
The Information in this free writing prospectus is preliminary and is subject to completion or change.
The Information in this free writing prospectus supersedes information contained in any prior similar free writing prospectus relating to these securities prior to the time of your commitment to purchase.
This free writing prospectus is not an offer to sell or solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.
The information in this free writing prospectus is preliminary, and will be superseded by the definitive free writing prospectus. This free writing prospectus is being delivered to you solely to provide you with information about the offering of the asset-backed securities referred to in this free writing prospectus and to solicit an indication of your interest in purchasing such securities, when, as and if issued. Any such indication of interest will not constitute a contractual commitment by you to purchase any of the securities. You may withdraw your indication of interest at any time.
The securities referred to in this free writing prospectus are being offered when, as and if issued. Our obligation to sell securities to you is conditioned on the securities having the characteristics described in this free writing prospectus. If that condition is not satisfied, we will notify you, and neither the issuer nor any underwriter will have any obligation to you to deliver all or any portion of the securities which you have committed to purchase, and there will be no liability between us as a consequence of the non-delivery.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
![]() | BEAR, STEARNS & CO. INC. | |
ATLANTA • BOSTON • CHICAGO | ASSET-BACKED SECURITIES GROUP | |
DALLAS • LOS ANGELES • NEW YORK • SAN FRANCISCO | 383 Madison Avenue | |
FRANKFURT • GENEVA • HONG KONG | New York, N.Y. 10179 | |
LONDON • PARIS • TOKYO | (212) 272-2000 |
SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION
The information contained in the attached materials (the “Information”) may include various forms of performance analysis, security characteristics and securities pricing estimates for the securities described therein. Should you receive Information that refers to the “Statement Regarding Assumptions and Other Information”, please refer to this statement instead. The Information is illustrative and is not intended to predict actual results which may differ substantially from those reflected in the Information. Performance analysis is based on certain assumptions with respect to significant factors that may prove not to be as assumed. Performance results are based on mathematical models that use inputs to calculate results. As with all models, results may vary significantly depending upon the value given to the inputs. Inputs to these models include but are not limited to: prepayment expectations (econometric prepayment models, single expected lifetime prepayments or a vector of periodic prepayments), interest rate assumptions (parallel and nonparallel changes for different maturity instruments), collateral assumptions (actual pool level data, aggregated pool level data, reported factors or imputed factors), volatility assumptions (historically observed or implied current) and reported information (paydown factors, rate resets, remittance reports and trustee statements). Models used in any analysis may be proprietary, the results therefore, may be difficult for any third party to reproduce. Contact your registered representative for detailed explanations of any modeling techniques employed in the Information.
The Information may not reflect the impact of all structural characteristics of the security, including call events and cash flow priorities at all prepayment speeds and/or interest rates. You should consider whether the behavior of these securities should be tested using assumptions different from those included in the Information. The assumptions underlying the Information, including structure and collateral, may be modified from time to time to reflect changed facts and circumstances. Offering Documents contain data that is current as of their publication dates and after publication may no longer be accurate, complete or current. Contact your registered representative for Offering Documents, current Information or additional materials, including other models for performance analysis, which are likely to produce different results, and any further explanation regarding the Information.
Any pricing estimates Bear Stearns has supplied at your request (a) represent our view, at the time determined, of the investment value of the securities between the estimated bid and offer levels, the spread between which may be significant due to market volatility or illiquidity, (b) do not constitute a bid by Bear Stearns or any other person for any security, (c) may not constitute prices at which the securities could have been purchased or sold in any market at any time, (d) have not been confirmed by actual trades, may vary from the value Bear Stearns assigns or may be assigned to any such security while in its inventory, and may not take into account the size of a position you have in the security, and (e) may have been derived from matrix pricing that uses data relating to other securities whose prices are more readily ascertainable to produce a hypothetical price based on the estimated yield spread relationship between the securities.
General Information: Bear Stearns and/or individuals associated therewith may have positions in these securities while the Information is circulating or during such period may engage in transactions with the issuer or its affiliates. We act as principal in transactions with you, and accordingly, you must determine the appropriateness for you of such transactions and address any legal, tax or accounting considerations applicable to you. Bear Stearns shall not be a fiduciary or advisor unless we have agreed in writing to receive compensation specifically to act in such capacities. If you are subject to ERISA, the Information is being furnished on the condition that it will not form a primary basis for any investment decision.
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This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 1 of 31
Aggregate Group 1 Mortgage Loans
Summary of Loans in Sample Calculation Pool
(As of Sample Calculation Date)
Range | ||||||
Total Number of Loans | 3,746 | |||||
Total Outstanding Balance | $1,195,091,190.24 | $19,327.36 | to | $2,000,000.00 | ||
Average Loan Balance | $319,031.28 | |||||
WA Mortgage Rate | 6.868% | 4.875% | to | 14.500% | ||
WA Mortgage Rate Net LPMI | 6.842% | 4.875% | to | 14.500% | ||
Net WAC | 6.469% | 4.485% | to | 13.970% | ||
% of Fixed Rate Mortgage Loans | 30.22% | |||||
% of ARM Loans | 69.78% | |||||
ARM Characteristics | ||||||
WA Gross Margin | 3.117% | 1.875% | to | 7.375% | ||
WA Months to First Roll | 58 | 5 | to | 85 | ||
WA Initial Rate Cap | 3.258% | 1.000% | to | 6.000% | ||
WA Subsequent Rate Cap | 1.101% | 1.000% | to | 2.000% | ||
WA Lifetime Cap | 12.733% | 9.950% | to | 18.875% | ||
WA Lifetime Floor | 3.222% | 1.875% | to | 12.250% | ||
WA Original Term (months) | 354 | 180 | to | 360 | ||
WA Remaining Term (months) | 353 | 171 | to | 360 | ||
WA Age (months) | 1 | 0 | to | 12 | ||
WA LTV* | 73.08% | 8.86% | to | 100.00% | ||
WA FICO | 705 | 593 | to | 831 | ||
WA DTI% | 39.37% | 2.23% | to | 55.00% | ||
Secured by (% of pool) | ||||||
1st Liens | 97.49% | |||||
2nd Liens | 2.51% | |||||
Prepayment Penalty at Loan Origination (% of all loans) | 64.67% | |||||
Prepay Moves Exempted | ||||||
Soft | 8.37% | |||||
Hard | 56.30% | |||||
No Prepay | 35.33% | |||||
% Interest Only | 72.19% | |||||
WA Interest Only Term (months) | 87 | |||||
% Silent Seconds | 49.33% | |||||
% Loans LTV* Greater than 80.00% | 6.06% | |||||
% Loans LTV* Greater than 80.00% that have MI | 58.39% |
Top 5 States (%) | Top 5 Prop Types (%) | Top 5 Doc Types (%) | Purpose Codes (%) | Occ Codes (%) | Orig PP Term (%) | |||||||||||
CA | 56.81 | SFR | 62.05 | Stated | 66.49 | PUR | 40.33 | OO | 79.11 | 36 | 38.51 | |||||
FL | 10.48 | D-PUDS | 10.02 | Full | 15.82 | REFI/CO | 37.95 | NOO | 17.56 | None | 35.33 | |||||
NY | 7.18 | CONDO | 8.58 | Exp VA | 6.21 | REFI/RT | 21.72 | 2nd HM | 3.32 | 12 | 16.12 | |||||
HI | 2.91 | 2-FAMILY | 6.04 | SISA | 5.72 | 24 | 9.25 | |||||||||
NJ | 2.81 | PUD | 4.26 | Exp ND | 2.73 | 6 | 0.46 | |||||||||
60 | 0.33 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 2 of 31
Aggregate Group 1 Mortgage Loans
Description | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
15YR FIXED | 11,340,086.91 | 44 | 0.95 | 257,729.25 | 6.209 | 179 | 727 | 60.54 | |||||||||||||||||
15YR FIXED IO | 274,550.00 | 4 | 0.02 | 68,637.50 | 11.173 | 180 | 714 | 96.43 | |||||||||||||||||
2/6 LIBOR | 2,815,402.88 | 15 | 0.24 | 187,693.53 | 8.645 | 359 | 670 | 79.05 | |||||||||||||||||
2/6 LIBOR 40/30 BALLOON | 1,259,103.17 | 5 | 0.11 | 251,820.63 | 7.019 | 359 | 654 | 73.03 | |||||||||||||||||
2/6 LIBOR IO | 5,557,811.00 | 16 | 0.47 | 347,363.19 | 7.327 | 358 | 686 | 77.02 | |||||||||||||||||
20YR FIXED | 1,710,046.40 | 5 | 0.14 | 342,009.28 | 6.008 | 239 | 736 | 53.32 | |||||||||||||||||
25YR FIXED | 375,990.38 | 1 | 0.03 | 375,990.38 | 6.500 | 298 | 694 | 57.12 | |||||||||||||||||
3/1 LIBOR | 115,606.81 | 1 | 0.01 | 115,606.81 | 6.875 | 356 | 622 | 58.00 | |||||||||||||||||
3/6 LIBOR | 3,758,106.31 | 11 | 0.31 | 341,646.03 | 6.190 | 359 | 713 | 67.66 | |||||||||||||||||
3/6 LIBOR 40/30 BALLOON | 2,282,365.36 | 9 | 0.19 | 253,596.15 | 6.823 | 358 | 692 | 73.30 | |||||||||||||||||
3/6 LIBOR IO | 52,198,684.00 | 123 | 4.37 | 424,379.54 | 6.237 | 359 | 710 | 71.26 | |||||||||||||||||
30/15 FIXED BALLOON | 26,872,046.66 | 332 | 2.25 | 80,939.90 | 11.545 | 179 | 721 | 96.36 | |||||||||||||||||
30/15 FIXED BALLOON IO | 1,617,827.49 | 22 | 0.14 | 73,537.61 | 11.704 | 179 | 723 | 96.81 | |||||||||||||||||
30YR FIXED | 167,090,511.16 | 542 | 13.98 | 308,285.08 | 6.554 | 359 | 714 | 67.14 | |||||||||||||||||
30YR FIXED IO | 131,634,650.00 | 378 | 11.01 | 348,239.81 | 6.581 | 359 | 716 | 68.73 | |||||||||||||||||
40/30 FIXED BALLOON | 20,263,695.38 | 59 | 1.70 | 343,452.46 | 6.668 | 359 | 704 | 73.15 | |||||||||||||||||
5/1 LIBOR | 2,721,516.89 | 6 | 0.23 | 453,586.15 | 6.364 | 356 | 711 | 61.79 | |||||||||||||||||
5/1 LIBOR IO | 56,991,630.00 | 145 | 4.77 | 393,045.72 | 6.644 | 358 | 716 | 75.29 | |||||||||||||||||
5/6 LIBOR | 67,226,292.04 | 242 | 5.63 | 277,794.60 | 7.257 | 359 | 691 | 75.78 | |||||||||||||||||
5/6 LIBOR 40/30 BALLOON | 20,866,927.10 | 60 | 1.75 | 347,782.12 | 7.245 | 359 | 663 | 75.54 | |||||||||||||||||
5/6 LIBOR IO | 587,749,572.05 | 1,652 | 49.18 | 355,780.61 | 6.847 | 359 | 700 | 74.90 | |||||||||||||||||
6M LIBOR | 319,850.70 | 1 | 0.03 | 319,850.70 | 9.750 | 359 | 686 | 80.00 | |||||||||||||||||
6M LIBOR IO | 157,500.00 | 1 | 0.01 | 157,500.00 | 6.015 | 360 | 731 | 75.00 | |||||||||||||||||
7/1 LIBOR | 2,115,130.80 | 2 | 0.18 | 1,057,565.40 | 6.250 | 357 | 673 | 66.86 | |||||||||||||||||
7/1 LIBOR IO | 1,340,000.00 | 3 | 0.11 | 446,666.67 | 6.011 | 357 | 791 | 51.52 | |||||||||||||||||
7/6 LIBOR | 1,277,916.75 | 2 | 0.11 | 638,958.38 | 5.953 | 358 | 744 | 35.07 | |||||||||||||||||
7/6 LIBOR IO | 25,158,370.00 | 65 | 2.11 | 387,051.85 | 6.525 | 359 | 717 | 66.99 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 3 of 31
Aggregate Group 1 Mortgage Loans
Range of Current Balance | |||||||||||||||||||||||||
Description ($) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
0.01 - 250,000.00 | 235,818,206.17 | 1,576 | 19.73 | 149,630.84 | 7.516 | 335 | 698 | 74.38 | |||||||||||||||||
250,000.01 - 300,000.00 | 114,053,953.48 | 413 | 9.54 | 276,159.69 | 6.767 | 357 | 698 | 72.45 | |||||||||||||||||
300,000.01 - 350,000.00 | 106,939,576.60 | 327 | 8.95 | 327,032.34 | 6.729 | 356 | 702 | 73.48 | |||||||||||||||||
350,000.01 - 400,000.00 | 117,961,458.78 | 314 | 9.87 | 375,673.44 | 6.726 | 357 | 700 | 74.41 | |||||||||||||||||
400,000.01 - 450,000.00 | 119,807,776.18 | 281 | 10.02 | 426,362.19 | 6.608 | 359 | 706 | 74.15 | |||||||||||||||||
450,000.01 - 500,000.00 | 128,307,667.17 | 268 | 10.74 | 478,759.95 | 6.626 | 358 | 711 | 74.27 | |||||||||||||||||
500,000.01 - 550,000.00 | 94,794,241.66 | 180 | 7.93 | 526,634.68 | 6.759 | 359 | 709 | 73.92 | |||||||||||||||||
550,000.01 - 600,000.00 | 69,302,748.69 | 120 | 5.80 | 577,522.91 | 6.869 | 357 | 708 | 73.54 | |||||||||||||||||
600,000.01 - 650,000.00 | 60,942,131.23 | 97 | 5.10 | 628,269.39 | 6.696 | 356 | 712 | 69.38 | |||||||||||||||||
650,000.01 - 700,000.00 | 25,747,438.07 | 38 | 2.15 | 677,564.16 | 6.790 | 354 | 713 | 72.31 | |||||||||||||||||
700,000.01 - 750,000.00 | 36,180,624.64 | 49 | 3.03 | 738,380.09 | 6.753 | 359 | 707 | 70.02 | |||||||||||||||||
750,000.01 - 800,000.00 | 9,416,570.86 | 12 | 0.79 | 784,714.24 | 6.680 | 359 | 716 | 65.61 | |||||||||||||||||
800,000.01 - 850,000.00 | 9,099,863.24 | 11 | 0.76 | 827,260.29 | 6.270 | 359 | 708 | 67.73 | |||||||||||||||||
850,000.01 - 900,000.00 | 7,984,239.25 | 9 | 0.67 | 887,137.69 | 6.679 | 339 | 720 | 70.68 | |||||||||||||||||
900,000.01 - 950,000.00 | 4,618,105.81 | 5 | 0.39 | 923,621.16 | 6.470 | 359 | 697 | 69.38 | |||||||||||||||||
950,000.01 - 1,000,000.00 | 22,694,470.95 | 23 | 1.90 | 986,716.13 | 6.659 | 351 | 707 | 69.59 | |||||||||||||||||
1,000,000.01 - 1,050,000.00 | 2,100,000.00 | 2 | 0.18 | 1,050,000.00 | 7.125 | 358 | 702 | 75.00 | |||||||||||||||||
1,050,000.01 - 1,150,000.00 | 4,370,785.78 | 4 | 0.37 | 1,092,696.45 | 6.779 | 360 | 734 | 62.66 | |||||||||||||||||
1,150,000.01 - 1,200,000.00 | 2,356,381.87 | 2 | 0.20 | 1,178,190.94 | 6.442 | 358 | 737 | 56.43 | |||||||||||||||||
1,200,000.01 - 1,300,000.00 | 6,281,881.81 | 5 | 0.53 | 1,256,376.36 | 6.355 | 359 | 730 | 60.56 | |||||||||||||||||
1,300,000.01 - 1,400,000.00 | 1,391,250.00 | 1 | 0.12 | 1,391,250.00 | 6.875 | 360 | 696 | 75.00 | |||||||||||||||||
1,400,000.01 - 1,450,000.00 | 1,413,943.00 | 1 | 0.12 | 1,413,943.00 | 6.250 | 357 | 665 | 60.34 | |||||||||||||||||
1,450,000.01 - 1,750,000.00 | 7,779,375.00 | 5 | 0.65 | 1,555,875.00 | 7.213 | 359 | 727 | 71.89 | |||||||||||||||||
1,800,000.01 + | 5,728,500.00 | 3 | 0.48 | 1,909,500.00 | 6.247 | 360 | 744 | 64.02 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 4 of 31
Aggregate Group 1 Mortgage Loans
Range of Original Balance | |||||||||||||||||||||||||
Description ($) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
0.01 - 250,000.00 | 235,818,206.17 | 1,576 | 19.73 | 149,630.84 | 7.516 | 335 | 698 | 74.38 | |||||||||||||||||
250,000.01 - 300,000.00 | 114,053,953.48 | 413 | 9.54 | 276,159.69 | 6.767 | 357 | 698 | 72.45 | |||||||||||||||||
300,000.01 - 350,000.00 | 106,939,576.60 | 327 | 8.95 | 327,032.34 | 6.729 | 356 | 702 | 73.48 | |||||||||||||||||
350,000.01 - 400,000.00 | 117,961,458.78 | 314 | 9.87 | 375,673.44 | 6.726 | 357 | 700 | 74.41 | |||||||||||||||||
400,000.01 - 450,000.00 | 119,807,776.18 | 281 | 10.02 | 426,362.19 | 6.608 | 359 | 706 | 74.15 | |||||||||||||||||
450,000.01 - 500,000.00 | 128,307,667.17 | 268 | 10.74 | 478,759.95 | 6.626 | 358 | 711 | 74.27 | |||||||||||||||||
500,000.01 - 550,000.00 | 94,794,241.66 | 180 | 7.93 | 526,634.68 | 6.759 | 359 | 709 | 73.92 | |||||||||||||||||
550,000.01 - 600,000.00 | 69,302,748.69 | 120 | 5.80 | 577,522.91 | 6.869 | 357 | 708 | 73.54 | |||||||||||||||||
600,000.01 - 650,000.00 | 60,942,131.23 | 97 | 5.10 | 628,269.39 | 6.696 | 356 | 712 | 69.38 | |||||||||||||||||
650,000.01 - 700,000.00 | 25,047,800.93 | 37 | 2.10 | 676,967.59 | 6.805 | 359 | 712 | 72.27 | |||||||||||||||||
700,000.01 - 750,000.00 | 36,880,261.78 | 50 | 3.09 | 737,605.24 | 6.743 | 356 | 708 | 70.10 | |||||||||||||||||
750,000.01 - 800,000.00 | 9,416,570.86 | 12 | 0.79 | 784,714.24 | 6.680 | 359 | 716 | 65.61 | |||||||||||||||||
800,000.01 - 850,000.00 | 9,099,863.24 | 11 | 0.76 | 827,260.29 | 6.270 | 359 | 708 | 67.73 | |||||||||||||||||
850,000.01 - 900,000.00 | 7,984,239.25 | 9 | 0.67 | 887,137.69 | 6.679 | 339 | 720 | 70.68 | |||||||||||||||||
900,000.01 - 950,000.00 | 4,618,105.81 | 5 | 0.39 | 923,621.16 | 6.470 | 359 | 697 | 69.38 | |||||||||||||||||
950,000.01 - 1,000,000.00 | 22,694,470.95 | 23 | 1.90 | 986,716.13 | 6.659 | 351 | 707 | 69.59 | |||||||||||||||||
1,000,000.01 - 1,050,000.00 | 2,100,000.00 | 2 | 0.18 | 1,050,000.00 | 7.125 | 358 | 702 | 75.00 | |||||||||||||||||
1,050,000.01 - 1,150,000.00 | 4,370,785.78 | 4 | 0.37 | 1,092,696.45 | 6.779 | 360 | 734 | 62.66 | |||||||||||||||||
1,150,000.01 - 1,200,000.00 | 2,356,381.87 | 2 | 0.20 | 1,178,190.94 | 6.442 | 358 | 737 | 56.43 | |||||||||||||||||
1,200,000.01 - 1,300,000.00 | 6,281,881.81 | 5 | 0.53 | 1,256,376.36 | 6.355 | 359 | 730 | 60.56 | |||||||||||||||||
1,300,000.01 - 1,400,000.00 | 1,391,250.00 | 1 | 0.12 | 1,391,250.00 | 6.875 | 360 | 696 | 75.00 | |||||||||||||||||
1,400,000.01 - 1,450,000.00 | 1,413,943.00 | 1 | 0.12 | 1,413,943.00 | 6.250 | 357 | 665 | 60.34 | |||||||||||||||||
1,450,000.01 - 1,750,000.00 | 7,779,375.00 | 5 | 0.65 | 1,555,875.00 | 7.213 | 359 | 727 | 71.89 | |||||||||||||||||
1,800,000.01 + | 5,728,500.00 | 3 | 0.48 | 1,909,500.00 | 6.247 | 360 | 744 | 64.02 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 5 of 31
Aggregate Group 1 Mortgage Loans
State | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
California | 678,978,341.19 | 1,875 | 56.81 | 362,121.78 | 6.623 | 353 | 712 | 72.00 | |||||||||||||||||
Florida | 125,254,501.78 | 566 | 10.48 | 221,297.71 | 7.495 | 351 | 690 | 76.23 | |||||||||||||||||
New York | 85,834,491.44 | 205 | 7.18 | 418,704.84 | 7.285 | 351 | 698 | 73.24 | |||||||||||||||||
Hawaii | 34,743,011.52 | 96 | 2.91 | 361,906.37 | 6.839 | 351 | 689 | 74.62 | |||||||||||||||||
New Jersey | 33,525,916.37 | 105 | 2.81 | 319,294.44 | 7.302 | 357 | 681 | 74.87 | |||||||||||||||||
Illinois | 32,531,224.62 | 133 | 2.72 | 244,595.67 | 7.421 | 353 | 694 | 73.14 | |||||||||||||||||
Arizona | 31,750,843.27 | 116 | 2.66 | 273,714.17 | 6.937 | 356 | 697 | 73.74 | |||||||||||||||||
Maryland | 24,196,729.86 | 71 | 2.02 | 340,799.01 | 7.047 | 354 | 689 | 76.04 | |||||||||||||||||
Nevada | 23,891,199.70 | 87 | 2.00 | 274,611.49 | 6.836 | 356 | 702 | 72.74 | |||||||||||||||||
Virginia | 23,161,819.42 | 87 | 1.94 | 266,227.81 | 7.042 | 352 | 689 | 76.29 | |||||||||||||||||
Other** | 101,223,111.07 | 405 | 8.47 | 249,933.61 | 6.970 | 354 | 707 | 73.58 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
** All States with loan concentrations less than 1.94% of the total balance were placed in the other category.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 6 of 31
Aggregate Group 1 Mortgage Loans
Loan-to-Value* Ratios | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
0.00 - 10.00 | 350,000.00 | 1 | 0.03 | 350,000.00 | 5.190 | 359 | 750 | 8.86 | |||||||||||||||||
10.01 - 15.00 | 167,716.73 | 3 | 0.01 | 55,905.58 | 7.255 | 358 | 729 | 12.08 | |||||||||||||||||
15.01 - 20.00 | 592,080.24 | 3 | 0.05 | 197,360.08 | 6.994 | 286 | 742 | 19.51 | |||||||||||||||||
20.01 - 25.00 | 3,271,806.83 | 14 | 0.27 | 233,700.49 | 6.140 | 352 | 746 | 22.56 | |||||||||||||||||
25.01 - 30.00 | 4,947,300.14 | 19 | 0.41 | 260,384.22 | 6.200 | 354 | 769 | 27.55 | |||||||||||||||||
30.01 - 35.00 | 6,466,826.22 | 25 | 0.54 | 258,673.05 | 6.048 | 348 | 735 | 33.22 | |||||||||||||||||
35.01 - 40.00 | 13,250,798.45 | 36 | 1.11 | 368,077.73 | 6.176 | 347 | 741 | 37.68 | |||||||||||||||||
40.01 - 45.00 | 11,573,815.43 | 39 | 0.97 | 296,764.50 | 6.282 | 357 | 725 | 42.75 | |||||||||||||||||
45.01 - 50.00 | 26,839,303.86 | 94 | 2.25 | 285,524.51 | 6.206 | 347 | 718 | 47.96 | |||||||||||||||||
50.01 - 55.00 | 39,060,706.79 | 118 | 3.27 | 331,022.94 | 6.223 | 357 | 716 | 52.89 | |||||||||||||||||
55.01 - 60.00 | 58,166,506.84 | 157 | 4.87 | 370,487.30 | 6.220 | 354 | 719 | 57.89 | |||||||||||||||||
60.01 - 65.00 | 58,462,847.64 | 150 | 4.89 | 389,752.32 | 6.281 | 354 | 715 | 63.13 | |||||||||||||||||
65.01 - 70.00 | 149,040,257.44 | 423 | 12.47 | 352,341.03 | 6.522 | 356 | 713 | 69.03 | |||||||||||||||||
70.01 - 75.00 | 247,347,113.11 | 711 | 20.70 | 347,886.24 | 6.885 | 358 | 698 | 74.50 | |||||||||||||||||
75.01 - 80.00 | 503,125,095.74 | 1,418 | 42.10 | 354,813.18 | 6.892 | 359 | 699 | 79.71 | |||||||||||||||||
80.01 - 85.00 | 16,038,478.29 | 59 | 1.34 | 271,838.62 | 7.426 | 353 | 690 | 84.52 | |||||||||||||||||
85.01 - 90.00 | 23,676,455.07 | 159 | 1.98 | 148,908.52 | 8.701 | 330 | 697 | 89.54 | |||||||||||||||||
90.01 - 95.00 | 14,610,781.53 | 128 | 1.22 | 114,146.73 | 9.681 | 281 | 720 | 94.80 | |||||||||||||||||
95.01 + | 18,103,299.89 | 189 | 1.51 | 95,784.66 | 11.485 | 187 | 709 | 99.96 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 7 of 31
Aggregate Group 1 Mortgage Loans
Current Mortgage Rate | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
4.500 - 4.999 | 320,605.30 | 1 | 0.03 | 320,605.30 | 4.875 | 359 | 778 | 56.32 | |||||||||||||||||
5.000 - 5.499 | 15,003,380.65 | 41 | 1.26 | 365,936.11 | 5.291 | 356 | 740 | 60.70 | |||||||||||||||||
5.500 - 5.999 | 168,200,416.74 | 425 | 14.07 | 395,765.69 | 5.804 | 354 | 736 | 66.32 | |||||||||||||||||
6.000 - 6.499 | 268,676,262.34 | 733 | 22.48 | 366,543.33 | 6.234 | 356 | 720 | 69.02 | |||||||||||||||||
6.500 - 6.999 | 356,953,219.17 | 1,047 | 29.87 | 340,929.53 | 6.711 | 358 | 698 | 73.67 | |||||||||||||||||
7.000 - 7.499 | 161,910,593.47 | 500 | 13.55 | 323,821.19 | 7.200 | 358 | 686 | 76.07 | |||||||||||||||||
7.500 - 7.999 | 116,136,813.37 | 359 | 9.72 | 323,500.87 | 7.681 | 359 | 683 | 77.19 | |||||||||||||||||
8.000 - 8.499 | 37,684,758.55 | 117 | 3.15 | 322,091.95 | 8.176 | 359 | 686 | 78.39 | |||||||||||||||||
8.500 - 8.999 | 22,123,479.46 | 76 | 1.85 | 291,098.41 | 8.694 | 359 | 672 | 80.97 | |||||||||||||||||
9.000 - 9.499 | 8,359,258.97 | 29 | 0.70 | 288,250.31 | 9.145 | 356 | 669 | 80.68 | |||||||||||||||||
9.500 - 9.999 | 8,678,382.96 | 43 | 0.73 | 201,822.86 | 9.703 | 319 | 686 | 84.88 | |||||||||||||||||
10.000 - 10.499 | 3,162,527.98 | 31 | 0.26 | 102,017.03 | 10.285 | 236 | 712 | 96.06 | |||||||||||||||||
10.500 - 10.999 | 6,791,424.37 | 71 | 0.57 | 95,653.86 | 10.749 | 218 | 719 | 96.26 | |||||||||||||||||
11.000 - 11.499 | 4,518,755.21 | 54 | 0.38 | 83,680.65 | 11.224 | 199 | 715 | 95.36 | |||||||||||||||||
11.500 - 11.999 | 5,971,846.47 | 85 | 0.50 | 70,257.02 | 11.771 | 192 | 721 | 95.41 | |||||||||||||||||
12.000 - 12.499 | 4,662,397.56 | 65 | 0.39 | 71,729.19 | 12.242 | 183 | 699 | 94.60 | |||||||||||||||||
12.500 - 12.999 | 3,419,274.07 | 45 | 0.29 | 75,983.87 | 12.695 | 217 | 694 | 95.74 | |||||||||||||||||
13.000 - 13.499 | 1,102,173.99 | 12 | 0.09 | 91,847.83 | 13.133 | 179 | 709 | 97.45 | |||||||||||||||||
13.500 - 13.999 | 1,239,505.02 | 10 | 0.10 | 123,950.50 | 13.686 | 203 | 686 | 99.40 | |||||||||||||||||
14.000 - 14.499 | 50,564.59 | 1 | 0.00 | 50,564.59 | 14.250 | 176 | 785 | 98.73 | |||||||||||||||||
14.500 - 14.999 | 125,550.00 | 1 | 0.01 | 125,550.00 | 14.500 | 180 | 720 | 90.00 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 8 of 31
Aggregate Group 1 Mortgage Loans
Property Type | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
2-FAMILY | 72,175,790.35 | 218 | 6.04 | 331,081.61 | 7.211 | 354 | 704 | 74.64 | |||||||||||||||||
3-FAMILY | 39,715,763.86 | 94 | 3.32 | 422,508.13 | 7.691 | 356 | 703 | 73.09 | |||||||||||||||||
4-FAMILY | 28,272,238.62 | 63 | 2.37 | 448,765.69 | 7.569 | 351 | 715 | 71.11 | |||||||||||||||||
CONDO | 102,486,074.50 | 454 | 8.58 | 225,740.25 | 7.067 | 349 | 702 | 76.24 | |||||||||||||||||
CONDONONWA | 294,000.00 | 1 | 0.02 | 294,000.00 | 6.500 | 358 | 685 | 70.00 | |||||||||||||||||
CONDOTEL | 4,628,139.10 | 12 | 0.39 | 385,678.26 | 7.574 | 359 | 712 | 75.77 | |||||||||||||||||
D-PUDS | 119,759,336.49 | 329 | 10.02 | 364,010.14 | 6.753 | 352 | 706 | 72.13 | |||||||||||||||||
HI-RISE | 29,729,298.68 | 97 | 2.49 | 306,487.62 | 7.525 | 351 | 700 | 74.59 | |||||||||||||||||
PUD | 50,875,103.87 | 164 | 4.26 | 310,214.05 | 6.716 | 355 | 710 | 72.72 | |||||||||||||||||
SFR | 741,553,165.26 | 2,290 | 62.05 | 323,822.34 | 6.732 | 353 | 705 | 72.63 | |||||||||||||||||
TOWNHOUSE | 5,602,279.51 | 24 | 0.47 | 233,428.31 | 7.105 | 357 | 671 | 78.09 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 9 of 31
Aggregate Group 1 Mortgage Loans
Purpose | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
Cash Out Refinance | 453,588,574.67 | 1,388 | 37.95 | 326,792.92 | 6.690 | 355 | 701 | 69.09 | |||||||||||||||||
Purchase | 481,978,999.43 | 1,649 | 40.33 | 292,285.63 | 7.261 | 350 | 706 | 78.04 | |||||||||||||||||
Rate/Term Refinance | 259,523,616.14 | 709 | 21.72 | 366,041.77 | 6.448 | 355 | 710 | 70.84 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
Aggregate Group 1 Mortgage Loans
Occupancy | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
Investor | 209,908,696.04 | 874 | 17.56 | 240,170.13 | 7.228 | 353 | 714 | 72.06 | |||||||||||||||||
Owner Occupied | 945,456,779.46 | 2,724 | 79.11 | 347,083.99 | 6.773 | 353 | 703 | 73.27 | |||||||||||||||||
Second Home | 39,725,714.74 | 148 | 3.32 | 268,416.99 | 7.212 | 346 | 709 | 73.88 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 10 of 31
Aggregate Group 1 Mortgage Loans
Range of Months Remaining to Scheduled Maturity | |||||||||||||||||||||||||
Description (months) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
121 - 180 | 40,104,511.06 | 402 | 3.36 | 99,762.47 | 10.040 | 179 | 722 | 86.25 | |||||||||||||||||
181 - 240 | 1,710,046.40 | 5 | 0.14 | 342,009.28 | 6.008 | 239 | 736 | 53.32 | |||||||||||||||||
241 - 360 | 1,153,276,632.78 | 3,339 | 96.50 | 345,395.82 | 6.759 | 359 | 704 | 72.65 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
Aggregate Group 1 Mortgage Loans
Collateral Grouped by Document Type | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
Alternative | 2,580,768.10 | 6 | 0.22 | 430,128.02 | 6.810 | 358 | 697 | 76.86 | |||||||||||||||||
Express No Doc | 32,638,121.73 | 122 | 2.73 | 267,525.59 | 6.821 | 354 | 711 | 65.29 | |||||||||||||||||
Express No Doc Verified Assets | 3,227,544.67 | 9 | 0.27 | 358,616.07 | 6.653 | 358 | 732 | 75.17 | |||||||||||||||||
Express Non-Verified Assets | 29,762,585.48 | 98 | 2.49 | 303,699.85 | 7.031 | 356 | 694 | 69.88 | |||||||||||||||||
Express Verified Assets | 74,246,001.31 | 208 | 6.21 | 356,951.93 | 6.957 | 356 | 691 | 71.67 | |||||||||||||||||
FISA | 601,900.00 | 5 | 0.05 | 120,380.00 | 7.067 | 360 | 729 | 53.88 | |||||||||||||||||
Full | 189,048,793.00 | 535 | 15.82 | 353,362.23 | 6.235 | 356 | 724 | 68.72 | |||||||||||||||||
SISA | 68,360,615.87 | 227 | 5.72 | 301,148.09 | 6.871 | 355 | 703 | 72.22 | |||||||||||||||||
Stated | 794,624,860.08 | 2,536 | 66.49 | 313,337.88 | 7.006 | 352 | 702 | 74.76 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 11 of 31
Aggregate Group 1 Mortgage Loans
Collateral Grouped by FICO | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
581 - 600 | 1,685,105.98 | 4 | 0.14 | 421,276.50 | 6.957 | 359 | 599 | 72.33 | |||||||||||||||||
601 - 620 | 22,679,813.10 | 83 | 1.90 | 273,250.76 | 7.455 | 358 | 614 | 67.72 | |||||||||||||||||
621 - 640 | 75,347,342.52 | 230 | 6.30 | 327,597.14 | 7.157 | 357 | 632 | 74.08 | |||||||||||||||||
641 - 660 | 143,683,887.64 | 479 | 12.02 | 299,966.36 | 7.214 | 355 | 651 | 75.92 | |||||||||||||||||
661 - 680 | 165,102,227.30 | 539 | 13.82 | 306,312.11 | 7.224 | 353 | 670 | 75.68 | |||||||||||||||||
681 - 700 | 197,116,706.42 | 597 | 16.49 | 330,178.74 | 6.772 | 355 | 691 | 74.33 | |||||||||||||||||
701 - 720 | 152,597,243.62 | 477 | 12.77 | 319,910.36 | 6.777 | 355 | 710 | 73.65 | |||||||||||||||||
721 - 740 | 132,101,392.53 | 421 | 11.05 | 313,780.03 | 6.746 | 349 | 730 | 72.85 | |||||||||||||||||
741 - 760 | 113,571,702.42 | 372 | 9.50 | 305,300.28 | 6.665 | 348 | 750 | 71.99 | |||||||||||||||||
761 - 780 | 92,833,857.75 | 284 | 7.77 | 326,879.78 | 6.591 | 348 | 771 | 69.76 | |||||||||||||||||
781 - 800 | 70,320,011.31 | 183 | 5.88 | 384,262.36 | 6.384 | 356 | 790 | 66.21 | |||||||||||||||||
801 + | 24,076,564.69 | 65 | 2.01 | 370,408.69 | 6.242 | 349 | 807 | 66.41 | |||||||||||||||||
N/A** | 3,975,334.96 | 12 | 0.33 | 331,277.91 | 7.493 | 359 | N/A | 68.71 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
**Primary Borrower is a Foreign National and therefore, has no fico score.
Aggregate Group 1 Mortgage Loans
Collateral Grouped by Prepayment Penalty Term | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
No Prepay | 422,243,338.70 | 1,316 | 35.33 | 320,853.60 | 7.032 | 352 | 709 | 72.79 | |||||||||||||||||
6 Month | 5,477,365.28 | 17 | 0.46 | 322,197.96 | 7.095 | 349 | 714 | 70.00 | |||||||||||||||||
1 Year | 192,628,366.66 | 552 | 16.12 | 348,964.43 | 6.900 | 354 | 703 | 73.31 | |||||||||||||||||
2 Year | 110,545,238.92 | 402 | 9.25 | 274,988.16 | 7.111 | 349 | 693 | 75.82 | |||||||||||||||||
3 Year | 460,282,024.42 | 1,444 | 38.51 | 318,754.86 | 6.639 | 354 | 704 | 72.66 | |||||||||||||||||
5 Year | 3,914,856.26 | 15 | 0.33 | 260,990.42 | 7.187 | 359 | 698 | 69.18 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 12 of 31
Aggregate Group 1 Mortgage Loans
Range of Months to First Roll | |||||||||||||||||||||||||
Description (months) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
FIXED | 361,179,404.38 | 1,387 | 30.22 | 260,403.32 | 6.954 | 338 | 715 | 70.10 | |||||||||||||||||
0.01 - 12.99 | 477,350.70 | 2 | 0.04 | 238,675.35 | 8.518 | 359 | 701 | 78.35 | |||||||||||||||||
13.00 - 24.99 | 9,364,317.05 | 35 | 0.78 | 267,551.92 | 7.677 | 358 | 677 | 77.01 | |||||||||||||||||
25.00 - 31.99 | 268,000.00 | 1 | 0.02 | 268,000.00 | 7.500 | 360 | 692 | 80.00 | |||||||||||||||||
32.00 - 49.99 | 58,845,397.88 | 146 | 4.92 | 403,050.67 | 6.266 | 359 | 710 | 71.16 | |||||||||||||||||
50.00 - 55.99 | 1,213,029.95 | 3 | 0.10 | 404,343.32 | 6.721 | 354 | 719 | 77.07 | |||||||||||||||||
56.00 - 79.99 | 733,852,272.73 | 2,100 | 61.41 | 349,453.46 | 6.878 | 359 | 699 | 74.97 | |||||||||||||||||
80.00 + | 29,891,417.55 | 72 | 2.50 | 415,158.58 | 6.458 | 359 | 718 | 64.92 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
Aggregate Group 1 Mortgage Loans
Range of Gross Margin | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
FIXED | 361,179,404.38 | 1,387 | 30.22 | 260,403.32 | 6.954 | 338 | 715 | 70.10 | |||||||||||||||||
1.750 - 2.249 | 1,186,187.80 | 2 | 0.10 | 593,093.90 | 6.250 | 357 | 725 | 78.52 | |||||||||||||||||
2.250 - 2.499 | 22,361,565.77 | 47 | 1.87 | 475,778.00 | 6.367 | 357 | 714 | 69.87 | |||||||||||||||||
2.500 - 2.749 | 12,713,156.77 | 45 | 1.06 | 282,514.59 | 6.679 | 359 | 713 | 72.16 | |||||||||||||||||
2.750 - 2.999 | 59,936,985.24 | 171 | 5.02 | 350,508.69 | 6.873 | 358 | 700 | 74.69 | |||||||||||||||||
3.000 - 3.249 | 565,097,162.82 | 1,588 | 47.28 | 355,854.64 | 6.793 | 359 | 701 | 73.64 | |||||||||||||||||
3.250 - 3.499 | 51,469,574.55 | 135 | 4.31 | 381,256.11 | 6.744 | 358 | 709 | 75.53 | |||||||||||||||||
3.500 - 3.749 | 16,349,090.45 | 50 | 1.37 | 326,981.81 | 7.322 | 359 | 701 | 82.17 | |||||||||||||||||
3.750 - 3.999 | 67,430,969.10 | 202 | 5.64 | 333,816.68 | 6.880 | 360 | 698 | 76.79 | |||||||||||||||||
4.000 - 4.249 | 24,064,209.86 | 71 | 2.01 | 338,932.53 | 7.174 | 359 | 679 | 77.37 | |||||||||||||||||
4.250 - 4.499 | 2,845,659.55 | 11 | 0.24 | 258,696.32 | 9.880 | 360 | 634 | 86.42 | |||||||||||||||||
4.500 - 4.749 | 2,050,499.21 | 10 | 0.17 | 205,049.92 | 7.898 | 359 | 679 | 80.90 | |||||||||||||||||
4.750 - 4.999 | 811,900.00 | 2 | 0.07 | 405,950.00 | 7.886 | 359 | 673 | 86.96 | |||||||||||||||||
5.000 - 5.249 | 1,068,000.00 | 3 | 0.09 | 356,000.00 | 7.116 | 357 | 664 | 80.00 | |||||||||||||||||
5.250 - 5.499 | 511,600.00 | 1 | 0.04 | 511,600.00 | 7.500 | 358 | 643 | 80.00 | |||||||||||||||||
5.500 - 5.749 | 1,122,107.53 | 5 | 0.09 | 224,421.51 | 7.449 | 360 | 674 | 79.42 | |||||||||||||||||
5.750 - 5.999 | 1,215,220.00 | 3 | 0.10 | 405,073.33 | 6.214 | 359 | 712 | 77.93 | |||||||||||||||||
6.000 - 6.249 | 528,000.00 | 2 | 0.04 | 264,000.00 | 7.655 | 359 | 675 | 80.00 | |||||||||||||||||
6.250 - 6.499 | 537,697.97 | 3 | 0.04 | 179,232.66 | 7.345 | 357 | 663 | 77.66 | |||||||||||||||||
6.500 - 6.749 | 1,132,945.02 | 4 | 0.09 | 283,236.26 | 7.652 | 356 | 699 | 82.70 | |||||||||||||||||
6.750 - 6.999 | 181,742.25 | 1 | 0.02 | 181,742.25 | 7.750 | 358 | 661 | 70.00 | |||||||||||||||||
7.000 - 7.249 | 797,511.97 | 2 | 0.07 | 398,755.99 | 9.032 | 359 | 628 | 80.00 | |||||||||||||||||
7.250 - 7.499 | 500,000.00 | 1 | 0.04 | 500,000.00 | 7.375 | 360 | 682 | 80.00 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 13 of 31
Aggregate Group 1 Mortgage Loans
Range of Lifetime Caps | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
FIXED | 361,179,404.38 | 1,387 | 30.22 | 260,403.32 | 6.954 | 338 | 715 | 70.10 | |||||||||||||||||
9.500 - 9.999 | 500,000.00 | 1 | 0.04 | 500,000.00 | 7.375 | 359 | 658 | 76.92 | |||||||||||||||||
10.000 - 10.499 | 212,000.00 | 1 | 0.02 | 212,000.00 | 5.250 | 359 | 735 | 80.00 | |||||||||||||||||
10.500 - 10.999 | 5,939,629.95 | 15 | 0.50 | 395,975.33 | 5.772 | 357 | 733 | 63.83 | |||||||||||||||||
11.000 - 11.499 | 27,156,472.95 | 69 | 2.27 | 393,572.07 | 5.913 | 358 | 724 | 67.47 | |||||||||||||||||
11.500 - 11.999 | 138,032,945.50 | 345 | 11.55 | 400,095.49 | 6.015 | 359 | 728 | 70.31 | |||||||||||||||||
12.000 - 12.499 | 156,481,551.78 | 419 | 13.09 | 373,464.32 | 6.318 | 359 | 711 | 71.86 | |||||||||||||||||
12.500 - 12.999 | 234,568,224.76 | 671 | 19.63 | 349,580.07 | 6.747 | 359 | 694 | 75.53 | |||||||||||||||||
13.000 - 13.499 | 118,014,879.41 | 357 | 9.87 | 330,573.89 | 7.222 | 359 | 687 | 76.48 | |||||||||||||||||
13.500 - 13.999 | 88,908,746.52 | 271 | 7.44 | 328,076.56 | 7.691 | 359 | 682 | 77.79 | |||||||||||||||||
14.000 - 14.499 | 30,734,132.34 | 91 | 2.57 | 337,737.72 | 8.208 | 359 | 680 | 78.18 | |||||||||||||||||
14.500 - 14.999 | 17,425,451.62 | 58 | 1.46 | 300,438.82 | 8.717 | 359 | 673 | 81.36 | |||||||||||||||||
15.000 - 15.499 | 7,354,605.30 | 23 | 0.62 | 319,765.45 | 9.142 | 359 | 669 | 80.83 | |||||||||||||||||
15.500 - 15.999 | 5,714,117.22 | 22 | 0.48 | 259,732.60 | 9.683 | 359 | 664 | 83.35 | |||||||||||||||||
16.000 - 16.499 | 793,391.86 | 4 | 0.07 | 198,347.97 | 10.199 | 359 | 641 | 89.27 | |||||||||||||||||
16.500 - 16.999 | 1,275,012.82 | 7 | 0.11 | 182,144.69 | 10.779 | 360 | 639 | 87.22 | |||||||||||||||||
17.000 - 17.499 | 271,737.33 | 2 | 0.02 | 135,868.67 | 11.388 | 359 | 667 | 90.00 | |||||||||||||||||
17.500 - 17.999 | 158,950.00 | 1 | 0.01 | 158,950.00 | 11.500 | 359 | 634 | 89.98 | |||||||||||||||||
18.000 - 18.499 | 100,000.00 | 1 | 0.01 | 100,000.00 | 12.250 | 360 | 658 | 81.30 | |||||||||||||||||
18.500 - 18.999 | 269,936.50 | 1 | 0.02 | 269,936.50 | 12.875 | 359 | 632 | 87.10 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 14 of 31
Aggregate Group 1 Mortgage Loans
Next Interest Adjustment Date | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
FIXED | 361,179,404.38 | 1,387 | 30.22 | 260,403.32 | 6.954 | 338 | 715 | 70.10 | |||||||||||||||||
August 2007 | 319,850.70 | 1 | 0.03 | 319,850.70 | 9.750 | 359 | 686 | 80.00 | |||||||||||||||||
October 2007 | 157,500.00 | 1 | 0.01 | 157,500.00 | 6.015 | 360 | 731 | 75.00 | |||||||||||||||||
December 2008 | 2,746,704.52 | 6 | 0.23 | 457,784.09 | 6.843 | 357 | 676 | 73.99 | |||||||||||||||||
January 2009 | 1,852,968.81 | 10 | 0.16 | 185,296.88 | 8.184 | 358 | 664 | 80.05 | |||||||||||||||||
February 2009 | 2,429,333.72 | 11 | 0.20 | 220,848.52 | 8.437 | 359 | 680 | 75.96 | |||||||||||||||||
March 2009 | 2,335,310.00 | 8 | 0.20 | 291,913.75 | 7.465 | 360 | 683 | 79.24 | |||||||||||||||||
April 2009 | 268,000.00 | 1 | 0.02 | 268,000.00 | 7.500 | 360 | 692 | 80.00 | |||||||||||||||||
November 2009 | 115,606.81 | 1 | 0.01 | 115,606.81 | 6.875 | 356 | 622 | 58.00 | |||||||||||||||||
December 2009 | 4,870,494.84 | 17 | 0.41 | 286,499.70 | 7.047 | 357 | 664 | 74.33 | |||||||||||||||||
January 2010 | 3,415,870.00 | 12 | 0.29 | 284,655.83 | 6.504 | 358 | 716 | 74.63 | |||||||||||||||||
February 2010 | 17,934,841.83 | 43 | 1.50 | 417,089.34 | 6.210 | 359 | 707 | 70.62 | |||||||||||||||||
March 2010 | 27,695,449.00 | 61 | 2.32 | 454,023.75 | 6.079 | 360 | 724 | 69.16 | |||||||||||||||||
April 2010 | 4,322,500.00 | 10 | 0.36 | 432,250.00 | 6.504 | 360 | 680 | 79.19 | |||||||||||||||||
March 2011 | 490,635.40 | 2 | 0.04 | 245,317.70 | 7.195 | 348 | 693 | 80.64 | |||||||||||||||||
June 2011 | 172,500.00 | 1 | 0.01 | 172,500.00 | 8.250 | 351 | 654 | 75.00 | |||||||||||||||||
September 2011 | 539,250.00 | 1 | 0.05 | 539,250.00 | 7.250 | 354 | 724 | 75.00 | |||||||||||||||||
October 2011 | 501,279.95 | 1 | 0.04 | 501,279.95 | 5.625 | 355 | 735 | 80.00 | |||||||||||||||||
November 2011 | 3,928,304.84 | 11 | 0.33 | 357,118.62 | 7.069 | 356 | 702 | 66.40 | |||||||||||||||||
December 2011 | 33,467,895.20 | 93 | 2.80 | 359,869.84 | 7.001 | 357 | 692 | 76.77 | |||||||||||||||||
January 2012 | 129,298,004.34 | 373 | 10.82 | 346,643.44 | 6.787 | 358 | 703 | 74.33 | |||||||||||||||||
February 2012 | 253,110,170.35 | 732 | 21.18 | 345,778.92 | 6.939 | 359 | 699 | 74.52 | |||||||||||||||||
March 2012 | 264,933,353.00 | 752 | 22.17 | 352,304.99 | 6.851 | 360 | 699 | 75.41 | |||||||||||||||||
April 2012 | 49,114,545.00 | 139 | 4.11 | 353,342.05 | 6.855 | 360 | 696 | 76.04 | |||||||||||||||||
November 2013 | 485,000.00 | 1 | 0.04 | 485,000.00 | 6.250 | 356 | 776 | 76.38 | |||||||||||||||||
December 2013 | 2,693,130.80 | 4 | 0.23 | 673,282.70 | 6.182 | 357 | 687 | 62.64 | |||||||||||||||||
January 2014 | 6,509,154.19 | 17 | 0.54 | 382,891.42 | 6.538 | 358 | 712 | 62.85 | |||||||||||||||||
February 2014 | 8,875,132.56 | 23 | 0.74 | 385,875.33 | 6.560 | 359 | 725 | 67.63 | |||||||||||||||||
March 2014 | 10,873,000.00 | 26 | 0.91 | 418,192.31 | 6.407 | 360 | 720 | 64.55 | |||||||||||||||||
April 2014 | 456,000.00 | 1 | 0.04 | 456,000.00 | 6.400 | 360 | 750 | 52.05 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 15 of 31
Aggregate Group 1 Mortgage Loans
Initial Fixed Period | |||||||||||||||||||||||||
Description (months) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
FIXED | 361,179,404.38 | 1,387 | 30.22 | 260,403.32 | 6.954 | 338 | 715 | 70.10 | |||||||||||||||||
6 | 477,350.70 | 2 | 0.04 | 238,675.35 | 8.518 | 359 | 701 | 78.35 | |||||||||||||||||
24 | 9,632,317.05 | 36 | 0.81 | 267,564.36 | 7.672 | 359 | 677 | 77.09 | |||||||||||||||||
36 | 58,354,762.48 | 144 | 4.88 | 405,241.41 | 6.258 | 359 | 710 | 71.09 | |||||||||||||||||
60 | 735,555,938.08 | 2,105 | 61.55 | 349,432.75 | 6.878 | 359 | 699 | 74.98 | |||||||||||||||||
84 | 29,891,417.55 | 72 | 2.50 | 415,158.58 | 6.458 | 359 | 718 | 64.92 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
Aggregate Group 1 Mortgage Loans
Initial Rate Cap | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
FIXED | 361,179,404.38 | 1,387 | 30.22 | 260,403.32 | 6.954 | 338 | 715 | 70.10 | |||||||||||||||||
1.000 | 477,350.70 | 2 | 0.04 | 238,675.35 | 8.518 | 359 | 701 | 78.35 | |||||||||||||||||
2.000 | 1,069,356.81 | 4 | 0.09 | 267,339.20 | 6.812 | 357 | 672 | 75.78 | |||||||||||||||||
3.000 | 733,876,493.45 | 2,088 | 61.41 | 351,473.42 | 6.828 | 359 | 700 | 74.30 | |||||||||||||||||
5.000 | 78,345,234.47 | 200 | 6.56 | 391,726.17 | 6.751 | 358 | 710 | 74.56 | |||||||||||||||||
6.000 | 20,143,350.43 | 65 | 1.69 | 309,897.70 | 7.183 | 357 | 669 | 75.88 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 16 of 31
Aggregate Group 1 Mortgage Loans
Subsequent Rate Cap | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
FIXED | 361,179,404.38 | 1,387 | 30.22 | 260,403.32 | 6.954 | 338 | 715 | 70.10 | |||||||||||||||||
1.000 | 750,054,200.93 | 2,134 | 62.76 | 351,478.07 | 6.841 | 359 | 700 | 74.37 | |||||||||||||||||
2.000 | 83,857,584.93 | 225 | 7.02 | 372,700.38 | 6.733 | 358 | 704 | 74.40 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
Aggregate Group 1 Mortgage Loans
Range of DTI | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV* (%) | |||||||||||||||||
0.01 - 5.00 | 801,750.00 | 2 | 0.07 | 400,875.00 | 6.611 | 360 | 717 | 77.54 | |||||||||||||||||
5.01 - 10.00 | 553,224.00 | 2 | 0.05 | 276,612.00 | 6.203 | 360 | 788 | 80.00 | |||||||||||||||||
10.01 - 15.00 | 8,215,009.44 | 32 | 0.69 | 256,719.05 | 6.709 | 352 | 704 | 66.33 | |||||||||||||||||
15.01 - 20.00 | 20,689,041.45 | 63 | 1.73 | 328,397.48 | 6.515 | 358 | 726 | 66.80 | |||||||||||||||||
20.01 - 25.00 | 34,500,110.79 | 122 | 2.89 | 282,787.79 | 6.711 | 353 | 714 | 68.37 | |||||||||||||||||
25.01 - 30.00 | 65,325,855.45 | 216 | 5.47 | 302,434.52 | 6.685 | 351 | 717 | 69.49 | |||||||||||||||||
30.01 - 35.00 | 110,621,234.87 | 370 | 9.26 | 298,976.31 | 6.715 | 355 | 709 | 70.63 | |||||||||||||||||
35.01 - 40.00 | 242,743,123.18 | 769 | 20.31 | 315,660.76 | 6.820 | 351 | 708 | 73.64 | |||||||||||||||||
40.01 - 45.00 | 346,969,989.21 | 1,041 | 29.03 | 333,304.50 | 6.874 | 352 | 705 | 74.82 | |||||||||||||||||
45.01 - 50.00 | 205,809,795.23 | 648 | 17.22 | 317,607.71 | 7.124 | 352 | 698 | 76.37 | |||||||||||||||||
50.01 - 55.00 | 15,368,620.62 | 40 | 1.29 | 384,215.52 | 6.520 | 358 | 693 | 68.93 | |||||||||||||||||
N/A** | 143,493,436.00 | 441 | 12.01 | 325,381.94 | 6.906 | 356 | 697 | 69.55 | |||||||||||||||||
TOTAL | 1,195,091,190.24 | 3,746 | 100.00 | 319,031.28 | 6.868 | 353 | 705 | 73.08 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
**Primary Borrower did not disclose monthly income on their mortgage loan application and therefore their DTI ratio is not calculated.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 17 of 31
Aggregate Group 2 Mortgage Loans
Summary of Loans in Sample Calculation Pool
(As of Sample Calculation Date)
Range | ||||||
Total Number of Loans | 195 | |||||
Total Outstanding Balance | $ 235,270,813.09 | $261,442.58 | to | $6,200,000.00 | ||
Average Loan Balance | $ 1,206,516.99 | |||||
WA Mortgage Rate | 6.434% | 5.925% | to | 8.500% | ||
WA Mortgage Rate Net LPMI | 6.434% | 5.925% | to | 8.500% | ||
Net WAC | 6.154% | 5.645% | to | 8.220 % | ||
% of Fixed Rate Mortgage Loans | 1.16% | |||||
% of ARM Loans | 98.84% | |||||
ARM Characteristics | ||||||
WA Gross Margin | 2.621% | 2.350% | to | 3.750% | ||
WA Months to First Roll | 81 | 33 | to | 121 | ||
WA Initial Rate Cap | 3.000% | 3.000% | to | 3.000% | ||
WA Subsequent Rate Cap | 1.045% | 1.000% | to | 3.000% | ||
WA Lifetime Cap | 12.431% | 11.925% | to | 14.500% | ||
WA Lifetime Floor | 6.417% | 2.500% | to | 8.500% | ||
WA Original Term (months) | 336 | 120 | to | 360 | ||
WA Remaining Term (months) | 334 | 117 | to | 360 | ||
WA Age (months) | 2 | 0 | to | 4 | ||
WA LTV* | 65.15% | 24.01% | to | 80.00% | ||
WA FICO | 736 | 632 | to | 812 | ||
WA DTI% | 6.22% | 0.35% | to | 28.72% | ||
Secured by (% of pool) | ||||||
1st Liens | 100.00% | |||||
Prepayment Penalty at Loan Origination (% of all loans) | 100.00% | |||||
Prepay Moves Exempted | ||||||
Soft | 0.00% | |||||
Hard | 100.00% | |||||
No Prepay | 0.00% | |||||
% Interest Only | 17.69% | |||||
WA Interest Only Term (months) | 55 | |||||
% Silent Seconds | 0.00% | |||||
% Loans LTV* Greater than 80.00% | 0.00% | |||||
% Loans LTV* Greater than 80.00% that have MI | 0.00% |
Top 5 States (%) | Top 5 Prop Types (%) | Top 5 Doc Types (%) | Purpose Codes (%) | Occ Codes (%) | Orig PP Term (%) | |||||||||||
CA | 59.46 | MultiFam | 87.11 | -Full | 96.03 | REFI/CO | 59.55 | NOO | 99.85 | 60 | 50.31 | |||||
WA | 5.84 | C-RETAIL | 5.08 | Stated | 3.42 | PUR | 35.53 | OO | 0.15 | 120 | 37.24 | |||||
OR | 4.67 | C-OFFICE | 2.93 | SISA | 0.54 | REFI/RT | 4.92 | 84 | 7.93 | |||||||
AZ | 4.08 | C-SELF_STG | 2.64 | 36 | 4.52 | |||||||||||
TX | 3.97 | C-MBLE_HM | 1.22 | None | 0.00 |
*Combined loan-to-value ratios with respect to the statistical mortgaged loans secured by second liens.
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 18 of 31
Aggregate Group 2 Mortgage Loans
Summary of Loans in Sample Calculation Pool
(As of Sample Calculation Date)
Range | ||||||
Total Number of Loans | 195 | |||||
Total Outstanding Balance | $ 234,949,001.15 | $260,969.69 | to | $6,186,598.42 | ||
Average Loan Balance | $ 1,204,866.67 | |||||
WA Mortgage Rate | 6.434% | 5.925% | to | 8.500% | ||
WA Mortgage Rate Net LPMI | 6.434% | 5.925% | to | 8.500% | ||
Net WAC | 6.154% | 5.645% | to | 8.220 % | ||
% of Fixed Rate Mortgage Loans | 1.16% | |||||
% of ARM Loans | 98.84% | |||||
ARM Characteristics | ||||||
WA Gross Margin | 2.621% | 2.350% | to | 3.750% | ||
WA Months to First Roll | 81 | 33 | to | 121 | ||
WA Initial Rate Cap | 3.000% | 3.000% | to | 3.000% | ||
WA Subsequent Rate Cap | 1.045% | 1.000% | to | 3.000% | ||
WA Lifetime Cap | 12.431% | 11.925% | to | 14.500% | ||
WA Lifetime Floor | 6.417% | 2.500% | to | 8.500% | ||
WA Original Term (months) | 336 | 120 | to | 360 | ||
WA Remaining Term (months) | 334 | 117 | to | 360 | ||
WA Age (months) | 2 | 0 | to | 4 | ||
WA LTV | 65.15% | 24.01% | to | 80.00% | ||
WA FICO | 736 | 632 | to | 812 | ||
Secured by (% of pool) | ||||||
1st Liens | 100.00% | |||||
Prepayment Penalty at Loan Origination (% of all loans) | 100.00% | |||||
Prepay Moves Exempted | ||||||
Soft | 0.00% | |||||
Hard | 100.00% | |||||
No Prepay | 0.00% | |||||
% Interest Only | 17.71% | |||||
WA Interest Only Term (months) | 55 | |||||
% Silent Seconds | 0.00% | |||||
% Loans LTV Greater than 80.00% | 0.00% | |||||
% Loans LTV Greater than 80.00% that have MI | 0.00% |
Top 5 States (%) | Top 5 Prop Types (%) | Top 5 Doc Types (%) | Purpose Codes (%) | Occ Codes (%) | Orig PP Term (%) | |||||||||||
CA | 59.47 | MultiFam | 87.13 | -Full | 96.03100.00 | REFI/CO | 59.56 | NOO | 99.85 | 60 | 50.34 | |||||
WA | 5.84 | C-RETAIL | 5.07 | Stated | 3.42 | PUR | 35.52 | OO | 0.15 | 120 | 37.21 | |||||
OR | 4.66 | C-OFFICE | 2.93 | SISA | 0.54 | REFI/RT | 4.92 | 84 | 7.94 | |||||||
AZ | 4.08 | C-SELF_STG | 2.63 | 36 | 4.52 | |||||||||||
TX | 3.96 | C-MBLE_HM | 1.22 | None | 0.00 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 19 of 31
Aggregate Group 2 Mortgage Loans
Description | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
10/6 LIBOR | 35,645,288.53 | 34 | 15.17 | 1,048,390.84 | 6.389 | 358 | 746 | 66.85 | |||||||||||||||||
10/6 LIBOR 10YR BALLOON | 2,130,189.79 | 3 | 0.91 | 710,063.26 | 6.575 | 358 | 740 | 62.68 | |||||||||||||||||
10/6 LIBOR 15YR BALLOON | 25,517,894.64 | 13 | 10.86 | 1,962,914.97 | 6.450 | 178 | 742 | 61.58 | |||||||||||||||||
10/6 LIBOR IO | 1,587,000.00 | 1 | 0.68 | 1,587,000.00 | 6.475 | 357 | 719 | 56.68 | |||||||||||||||||
10/6 MTA | 16,621,548.60 | 21 | 7.07 | 791,502.31 | 6.423 | 358 | 754 | 54.02 | |||||||||||||||||
10/6 MTA 10YR BALLOON | 4,694,943.78 | 2 | 2.00 | 2,347,471.89 | 6.624 | 357 | 741 | 63.40 | |||||||||||||||||
25/10 FIXED BALLOON | 924,396.12 | 1 | 0.39 | 924,396.12 | 6.625 | 118 | 766 | 63.93 | |||||||||||||||||
3/6 LIBOR | 6,059,689.42 | 11 | 2.58 | 550,880.86 | 7.393 | 358 | 719 | 70.01 | |||||||||||||||||
3/6 LIBOR 10YR BALLOON | 2,098,343.36 | 2 | 0.89 | 1,049,171.68 | 6.467 | 358 | 778 | 71.60 | |||||||||||||||||
3/6 LIBOR IO | 500,000.00 | 1 | 0.21 | 500,000.00 | 6.450 | 357 | 765 | 55.56 | |||||||||||||||||
30/10 FIXED BALLOON | 1,804,609.87 | 2 | 0.77 | 902,304.94 | 6.826 | 117 | 741 | 66.55 | |||||||||||||||||
5/6 LIBOR | 29,406,763.24 | 27 | 12.52 | 1,089,139.38 | 6.708 | 358 | 729 | 71.34 | |||||||||||||||||
5/6 LIBOR 10YR BALLOON | 21,103,867.08 | 11 | 8.98 | 1,918,533.37 | 6.262 | 358 | 734 | 66.42 | |||||||||||||||||
5/6 LIBOR 15YR BALLOON | 1,994,657.99 | 1 | 0.85 | 1,994,657.99 | 6.600 | 177 | 710 | 52.63 | |||||||||||||||||
5/6 LIBOR IO | 30,355,500.00 | 18 | 12.92 | 1,686,416.67 | 6.382 | 358 | 746 | 62.67 | |||||||||||||||||
5/6 MTA | 26,593,449.96 | 21 | 11.32 | 1,266,354.76 | 6.124 | 358 | 717 | 66.17 | |||||||||||||||||
5/6 MTA 10YR BALLOON | 7,421,327.48 | 5 | 3.16 | 1,484,265.50 | 6.347 | 359 | 719 | 73.44 | |||||||||||||||||
5/6 MTA IO | 1,840,000.00 | 2 | 0.78 | 920,000.00 | 6.175 | 359 | 725 | 56.02 | |||||||||||||||||
7/6 LIBOR | 6,348,587.04 | 8 | 2.70 | 793,573.38 | 6.711 | 358 | 750 | 71.40 | |||||||||||||||||
7/6 LIBOR 10YR BALLOON | 1,410,757.34 | 2 | 0.60 | 705,378.67 | 6.638 | 359 | 742 | 61.70 | |||||||||||||||||
7/6 MTA | 3,061,829.61 | 3 | 1.30 | 1,020,609.87 | 6.218 | 359 | 722 | 68.67 | |||||||||||||||||
7/6 MTA 10YR BALLOON | 499,217.58 | 1 | 0.21 | 499,217.58 | 6.350 | 358 | 808 | 67.57 | |||||||||||||||||
7/6 MTA IO | 7,329,139.72 | 5 | 3.12 | 1,465,827.94 | 6.205 | 357 | 682 | 61.74 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 20 of 31
Aggregate Group 2 Mortgage Loans
Range of Current Balance | |||||||||||||||||||||||||
Description ($) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
250,000.01 - 300,000.00 | 540,295.05 | 2 | 0.23 | 270,147.53 | 7.125 | 357 | 688 | 80.00 | |||||||||||||||||
300,000.01 - 350,000.00 | 1,027,182.81 | 3 | 0.44 | 342,394.27 | 7.426 | 358 | 725 | 56.43 | |||||||||||||||||
350,000.01 - 400,000.00 | 768,727.07 | 2 | 0.33 | 384,363.54 | 7.700 | 358 | 741 | 63.70 | |||||||||||||||||
400,000.01 - 450,000.00 | 2,638,783.90 | 6 | 1.12 | 439,797.32 | 7.445 | 358 | 720 | 64.61 | |||||||||||||||||
450,000.01 - 500,000.00 | 5,359,927.76 | 11 | 2.28 | 487,266.16 | 6.634 | 358 | 749 | 63.31 | |||||||||||||||||
500,000.01 - 550,000.00 | 5,253,707.94 | 10 | 2.24 | 525,370.79 | 6.752 | 358 | 728 | 58.83 | |||||||||||||||||
550,000.01 - 600,000.00 | 7,639,473.97 | 13 | 3.25 | 587,651.84 | 6.412 | 358 | 732 | 59.58 | |||||||||||||||||
600,000.01 - 650,000.00 | 4,976,598.55 | 8 | 2.12 | 622,074.82 | 6.659 | 335 | 725 | 67.28 | |||||||||||||||||
650,000.01 - 700,000.00 | 8,179,869.87 | 12 | 3.48 | 681,655.82 | 6.476 | 344 | 741 | 63.42 | |||||||||||||||||
700,000.01 - 750,000.00 | 10,072,531.70 | 14 | 4.29 | 719,466.55 | 6.517 | 341 | 754 | 64.98 | |||||||||||||||||
750,000.01 - 800,000.00 | 7,809,797.70 | 10 | 3.32 | 780,979.77 | 6.543 | 340 | 749 | 64.46 | |||||||||||||||||
800,000.01 - 850,000.00 | 4,142,786.27 | 5 | 1.76 | 828,557.25 | 6.318 | 358 | 742 | 59.10 | |||||||||||||||||
850,000.01 - 900,000.00 | 8,755,399.30 | 10 | 3.73 | 875,539.93 | 6.382 | 340 | 726 | 65.65 | |||||||||||||||||
900,000.01 - 950,000.00 | 8,376,944.50 | 9 | 3.57 | 930,771.61 | 6.644 | 332 | 748 | 67.18 | |||||||||||||||||
950,000.01 - 1,000,000.00 | 8,813,155.16 | 9 | 3.75 | 979,239.46 | 6.287 | 358 | 736 | 63.72 | |||||||||||||||||
1,000,000.01 - 1,050,000.00 | 4,080,902.73 | 4 | 1.74 | 1,020,225.68 | 6.356 | 358 | 705 | 65.23 | |||||||||||||||||
1,050,000.01 - 1,150,000.00 | 5,507,808.05 | 5 | 2.34 | 1,101,561.61 | 6.419 | 273 | 744 | 63.00 | |||||||||||||||||
1,150,000.01 - 1,200,000.00 | 3,488,345.03 | 3 | 1.48 | 1,162,781.68 | 6.342 | 358 | 762 | 71.44 | |||||||||||||||||
1,200,000.01 - 1,300,000.00 | 6,288,781.58 | 5 | 2.68 | 1,257,756.32 | 6.469 | 358 | 738 | 67.54 | |||||||||||||||||
1,300,000.01 - 1,400,000.00 | 1,396,314.85 | 1 | 0.59 | 1,396,314.85 | 6.675 | 357 | 797 | 48.28 | |||||||||||||||||
1,400,000.01 - 1,450,000.00 | 1,430,557.63 | 1 | 0.61 | 1,430,557.63 | 6.475 | 358 | 778 | 72.00 | |||||||||||||||||
1,450,000.01 - 1,750,000.00 | 17,795,802.94 | 11 | 7.57 | 1,617,800.27 | 6.473 | 326 | 725 | 62.22 | |||||||||||||||||
1,750,000.01 - 1,800,000.00 | 3,552,868.08 | 2 | 1.51 | 1,776,434.04 | 6.400 | 358 | 776 | 58.83 | |||||||||||||||||
1,800,000.01 + | 107,052,438.71 | 39 | 45.56 | 2,744,934.33 | 6.334 | 324 | 732 | 66.82 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 21 of 31
Aggregate Group 2 Mortgage Loans
Range of Original Balance | |||||||||||||||||||||||||
Description ($) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
250,000.01 - 300,000.00 | 540,295.05 | 2 | 0.23 | 270,147.53 | 7.125 | 357 | 688 | 80.00 | |||||||||||||||||
300,000.01 - 350,000.00 | 1,027,182.81 | 3 | 0.44 | 342,394.27 | 7.426 | 358 | 725 | 56.43 | |||||||||||||||||
350,000.01 - 400,000.00 | 768,727.07 | 2 | 0.33 | 384,363.54 | 7.700 | 358 | 741 | 63.70 | |||||||||||||||||
400,000.01 - 450,000.00 | 2,638,783.90 | 6 | 1.12 | 439,797.32 | 7.445 | 358 | 720 | 64.61 | |||||||||||||||||
450,000.01 - 500,000.00 | 5,884,927.76 | 12 | 2.50 | 490,410.65 | 6.600 | 358 | 746 | 62.94 | |||||||||||||||||
500,000.01 - 550,000.00 | 4,728,707.94 | 9 | 2.01 | 525,411.99 | 6.807 | 358 | 730 | 58.79 | |||||||||||||||||
550,000.01 - 600,000.00 | 7,639,473.97 | 13 | 3.25 | 587,651.84 | 6.412 | 358 | 732 | 59.58 | |||||||||||||||||
600,000.01 - 650,000.00 | 4,976,598.55 | 8 | 2.12 | 622,074.82 | 6.659 | 335 | 725 | 67.28 | |||||||||||||||||
650,000.01 - 700,000.00 | 7,479,869.87 | 11 | 3.18 | 679,988.17 | 6.476 | 342 | 736 | 63.74 | |||||||||||||||||
700,000.01 - 750,000.00 | 10,772,531.70 | 15 | 4.59 | 718,168.78 | 6.514 | 342 | 757 | 64.66 | |||||||||||||||||
750,000.01 - 800,000.00 | 7,809,797.70 | 10 | 3.32 | 780,979.77 | 6.543 | 340 | 749 | 64.46 | |||||||||||||||||
800,000.01 - 850,000.00 | 4,142,786.27 | 5 | 1.76 | 828,557.25 | 6.318 | 358 | 742 | 59.10 | |||||||||||||||||
850,000.01 - 900,000.00 | 8,755,399.30 | 10 | 3.73 | 875,539.93 | 6.382 | 340 | 726 | 65.65 | |||||||||||||||||
900,000.01 - 950,000.00 | 8,376,944.50 | 9 | 3.57 | 930,771.61 | 6.644 | 332 | 748 | 67.18 | |||||||||||||||||
950,000.01 - 1,000,000.00 | 7,814,096.13 | 8 | 3.33 | 976,762.02 | 6.334 | 358 | 738 | 62.28 | |||||||||||||||||
1,000,000.01 - 1,050,000.00 | 5,079,961.76 | 5 | 2.16 | 1,015,992.35 | 6.272 | 358 | 707 | 67.15 | |||||||||||||||||
1,050,000.01 - 1,150,000.00 | 5,507,808.05 | 5 | 2.34 | 1,101,561.61 | 6.419 | 273 | 744 | 63.00 | |||||||||||||||||
1,150,000.01 - 1,200,000.00 | 3,488,345.03 | 3 | 1.48 | 1,162,781.68 | 6.342 | 358 | 762 | 71.44 | |||||||||||||||||
1,200,000.01 - 1,300,000.00 | 6,288,781.58 | 5 | 2.68 | 1,257,756.32 | 6.469 | 358 | 738 | 67.54 | |||||||||||||||||
1,300,000.01 - 1,400,000.00 | 1,396,314.85 | 1 | 0.59 | 1,396,314.85 | 6.675 | 357 | 797 | 48.28 | |||||||||||||||||
1,400,000.01 - 1,450,000.00 | 1,430,557.63 | 1 | 0.61 | 1,430,557.63 | 6.475 | 358 | 778 | 72.00 | |||||||||||||||||
1,450,000.01 - 1,750,000.00 | 17,795,802.94 | 11 | 7.57 | 1,617,800.27 | 6.473 | 326 | 725 | 62.22 | |||||||||||||||||
1,750,000.01 - 1,800,000.00 | 3,552,868.08 | 2 | 1.51 | 1,776,434.04 | 6.400 | 358 | 776 | 58.83 | |||||||||||||||||
1,800,000.01 + | 107,052,438.71 | 39 | 45.56 | 2,744,934.33 | 6.334 | 324 | 732 | 66.82 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 22 of 31
Aggregate Group 2 Mortgage Loans
Geographic Distribution | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
California | 139,718,469.97 | 119 | 59.47 | 1,174,104.79 | 6.347 | 346 | 734 | 62.18 | |||||||||||||||||
Washington | 13,713,801.05 | 7 | 5.84 | 1,959,114.44 | 6.223 | 239 | 751 | 63.54 | |||||||||||||||||
Oregon | 10,959,676.19 | 10 | 4.66 | 1,095,967.62 | 6.462 | 347 | 754 | 68.61 | |||||||||||||||||
Arizona | 9,595,785.73 | 4 | 4.08 | 2,398,946.43 | 6.441 | 357 | 752 | 60.64 | |||||||||||||||||
Texas | 9,312,142.05 | 8 | 3.96 | 1,164,017.76 | 6.622 | 329 | 744 | 70.72 | |||||||||||||||||
Ohio | 8,286,671.31 | 8 | 3.53 | 1,035,833.91 | 6.443 | 358 | 745 | 75.55 | |||||||||||||||||
Minnesota | 5,133,031.57 | 4 | 2.18 | 1,283,257.89 | 6.500 | 357 | 738 | 77.71 | |||||||||||||||||
Kentucky | 4,979,418.14 | 3 | 2.12 | 1,659,806.05 | 6.784 | 282 | 738 | 74.59 | |||||||||||||||||
New Mexico | 4,583,182.63 | 2 | 1.95 | 2,291,591.32 | 6.500 | 178 | 671 | 73.14 | |||||||||||||||||
Florida | 4,311,998.88 | 1 | 1.84 | 4,311,998.88 | 6.950 | 358 | 710 | 80.00 | |||||||||||||||||
Other* | 24,354,823.63 | 29 | 10.37 | 839,821.50 | 6.776 | 327 | 733 | 68.91 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
*All states with loan concentration less than 1.84% of the total balance were placed in the other category.
Aggregate Group 2 Mortgage Loans
Loan-to-Value Ratios | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
20.01 - 25.00 | 513,969.81 | 1 | 0.22 | 513,969.81 | 6.475 | 358 | 800 | 24.01 | |||||||||||||||||
25.01 - 30.00 | 1,377,295.00 | 2 | 0.59 | 688,647.50 | 6.604 | 256 | 736 | 28.74 | |||||||||||||||||
30.01 - 35.00 | 668,665.19 | 1 | 0.28 | 668,665.19 | 6.500 | 178 | 785 | 34.81 | |||||||||||||||||
35.01 - 40.00 | 1,762,851.17 | 3 | 0.75 | 587,617.06 | 6.625 | 358 | 768 | 37.39 | |||||||||||||||||
40.01 - 45.00 | 7,964,484.63 | 6 | 3.39 | 1,327,414.11 | 6.577 | 255 | 759 | 43.74 | |||||||||||||||||
45.01 - 50.00 | 7,670,216.54 | 7 | 3.26 | 1,095,745.22 | 6.405 | 358 | 769 | 48.10 | |||||||||||||||||
50.01 - 55.00 | 19,813,746.81 | 20 | 8.43 | 990,687.34 | 6.516 | 325 | 727 | 53.25 | |||||||||||||||||
55.01 - 60.00 | 25,076,334.18 | 23 | 10.67 | 1,090,275.40 | 6.268 | 358 | 747 | 57.37 | |||||||||||||||||
60.01 - 65.00 | 38,235,872.65 | 30 | 16.27 | 1,274,529.09 | 6.417 | 326 | 732 | 63.12 | |||||||||||||||||
65.01 - 70.00 | 50,896,772.22 | 39 | 21.66 | 1,305,045.44 | 6.399 | 332 | 741 | 68.01 | |||||||||||||||||
70.01 - 75.00 | 60,775,272.66 | 45 | 25.87 | 1,350,561.61 | 6.423 | 336 | 721 | 73.50 | |||||||||||||||||
75.01 - 80.00 | 20,193,520.29 | 18 | 8.59 | 1,121,862.24 | 6.641 | 358 | 738 | 79.84 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 23 of 31
Aggregate Group 2 Mortgage Loans
Current Mortgage Rate | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
5.500 - 5.999 | 11,546,757.47 | 7 | 4.91 | 1,649,536.78 | 5.925 | 358 | 693 | 69.53 | |||||||||||||||||
6.000 - 6.499 | 132,120,527.45 | 104 | 56.23 | 1,270,389.69 | 6.255 | 347 | 742 | 64.55 | |||||||||||||||||
6.500 - 6.999 | 81,286,502.91 | 64 | 34.60 | 1,270,101.61 | 6.670 | 307 | 732 | 64.92 | |||||||||||||||||
7.000 - 7.499 | 6,561,641.61 | 13 | 2.79 | 504,741.66 | 7.194 | 358 | 731 | 70.79 | |||||||||||||||||
7.500 - 7.999 | 2,151,810.54 | 4 | 0.92 | 537,952.64 | 7.826 | 358 | 729 | 66.84 | |||||||||||||||||
8.000 - 8.499 | 842,734.96 | 2 | 0.36 | 421,367.48 | 8.286 | 358 | 715 | 67.01 | |||||||||||||||||
8.500 - 8.999 | 439,026.21 | 1 | 0.19 | 439,026.21 | 8.500 | 359 | 632 | 75.00 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Property Type | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
Commercial - Industrial | 2,384,509.36 | 2 | 1.01 | 1,192,254.68 | 6.682 | 179 | 732 | 44.11 | |||||||||||||||||
Commercial - Mobile Home | 2,873,579.18 | 2 | 1.22 | 1,436,789.59 | 6.673 | 178 | 726 | 58.41 | |||||||||||||||||
Commercial - Office | 6,873,862.73 | 5 | 2.93 | 1,374,772.55 | 6.540 | 172 | 774 | 56.15 | |||||||||||||||||
Commercial - Retail | 11,923,008.93 | 7 | 5.07 | 1,703,286.99 | 6.627 | 168 | 710 | 65.01 | |||||||||||||||||
Commercial - Self Storage | 6,186,598.42 | 1 | 2.63 | 6,186,598.42 | 6.000 | 178 | 771 | 68.13 | |||||||||||||||||
Multi-Family | 204,707,442.53 | 178 | 87.13 | 1,150,041.81 | 6.426 | 358 | 735 | 65.71 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Purpose | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
Cash Out Refinance | 139,938,557.80 | 106 | 59.56 | 1,320,175.07 | 6.347 | 337 | 734 | 61.83 | |||||||||||||||||
Purchase | 83,444,912.46 | 81 | 35.52 | 1,030,184.10 | 6.603 | 340 | 737 | 70.60 | |||||||||||||||||
Rate/Term Refinance | 11,565,530.89 | 8 | 4.92 | 1,445,691.36 | 6.274 | 251 | 746 | 65.94 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 24 of 31
Aggregate Group 2 Mortgage Loans
Occupancy | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
Investor | 234,604,764.92 | 194 | 99.85 | 1,209,302.91 | 6.433 | 334 | 736 | 65.19 | |||||||||||||||||
Owner Occupied | 344,236.23 | 1 | 0.15 | 344,236.23 | 7.550 | 357 | 766 | 36.32 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Range of Months Remaining to Scheduled Maturity | |||||||||||||||||||||||||
Description (months) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
0 - 120 | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
121 - 180 | 27,512,552.63 | 14 | 11.71 | 1,965,182.33 | 6.461 | 178 | 739 | 60.93 | |||||||||||||||||
241 - 360 | 204,707,442.53 | 178 | 87.13 | 1,150,041.81 | 6.426 | 358 | 735 | 65.71 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Collateral Grouped by Document Type | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
Full | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 25 of 31
Aggregate Group 2 Mortgage Loans
Collateral Grouped by FICO | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
621 - 640 | 1,105,233.65 | 2 | 0.47 | 552,616.83 | 7.400 | 358 | 634 | 75.00 | |||||||||||||||||
641 - 660 | 7,123,126.77 | 2 | 3.03 | 3,561,563.39 | 6.397 | 271 | 656 | 68.92 | |||||||||||||||||
661 - 680 | 15,833,825.12 | 13 | 6.74 | 1,217,986.55 | 6.472 | 358 | 671 | 62.10 | |||||||||||||||||
681 - 700 | 24,059,412.53 | 22 | 10.24 | 1,093,609.66 | 6.175 | 358 | 689 | 66.88 | |||||||||||||||||
701 - 720 | 41,566,948.27 | 32 | 17.69 | 1,298,967.13 | 6.516 | 328 | 711 | 69.16 | |||||||||||||||||
721 - 740 | 34,683,951.89 | 30 | 14.76 | 1,156,131.73 | 6.537 | 339 | 732 | 66.27 | |||||||||||||||||
741 - 760 | 35,757,838.60 | 29 | 15.22 | 1,233,028.92 | 6.501 | 339 | 754 | 67.98 | |||||||||||||||||
761 - 780 | 49,752,483.36 | 42 | 21.18 | 1,184,582.94 | 6.363 | 318 | 772 | 59.55 | |||||||||||||||||
781 - 800 | 15,940,694.07 | 17 | 6.78 | 937,687.89 | 6.462 | 351 | 791 | 64.36 | |||||||||||||||||
801 + | 9,125,486.89 | 6 | 3.88 | 1,520,914.48 | 6.285 | 319 | 805 | 59.95 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Collateral Grouped by Prepayment Penalty Terms | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
3 Year | 10,616,421.98 | 15 | 4.52 | 707,761.47 | 6.941 | 358 | 739 | 67.27 | |||||||||||||||||
5 Year | 118,262,545.78 | 86 | 50.34 | 1,375,145.88 | 6.391 | 354 | 731 | 66.97 | |||||||||||||||||
7 Year | 18,649,531.29 | 19 | 7.94 | 981,554.28 | 6.416 | 358 | 720 | 66.32 | |||||||||||||||||
10 Year | 87,420,502.10 | 75 | 37.21 | 1,165,606.69 | 6.436 | 300 | 745 | 62.18 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Range of Months to First Roll | |||||||||||||||||||||||||
Description (months) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
FIXED | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
32.00 - 49.99 | 8,658,032.78 | 14 | 3.69 | 618,430.91 | 7.114 | 358 | 736 | 69.56 | |||||||||||||||||
56.00 - 79.99 | 118,715,565.75 | 85 | 50.53 | 1,396,653.71 | 6.382 | 355 | 731 | 66.67 | |||||||||||||||||
80.00 + | 104,846,396.63 | 93 | 44.63 | 1,127,380.61 | 6.430 | 314 | 741 | 63.05 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 26 of 31
Aggregate Group 2 Mortgage Loans
Range of Gross Margin | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
FIXED | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
2.250 - 2.499 | 66,880,162.44 | 54 | 28.47 | 1,238,521.53 | 6.207 | 358 | 727 | 63.41 | |||||||||||||||||
2.500 - 2.749 | 91,723,597.55 | 74 | 39.04 | 1,239,508.08 | 6.499 | 352 | 740 | 66.39 | |||||||||||||||||
2.750 - 2.999 | 40,172,648.73 | 35 | 17.10 | 1,147,789.96 | 6.409 | 346 | 740 | 66.47 | |||||||||||||||||
3.000 - 3.249 | 31,883,618.85 | 25 | 13.57 | 1,275,344.75 | 6.650 | 234 | 735 | 63.52 | |||||||||||||||||
3.250 - 3.499 | 344,236.23 | 1 | 0.15 | 344,236.23 | 7.550 | 357 | 766 | 36.32 | |||||||||||||||||
3.500 - 3.749 | 772,400.51 | 2 | 0.33 | 386,200.26 | 8.230 | 359 | 651 | 75.00 | |||||||||||||||||
3.750 - 3.999 | 443,330.85 | 1 | 0.19 | 443,330.85 | 8.250 | 358 | 689 | 68.31 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 27 of 31
Aggregate Group 2 Mortgage Loans
Range of Lifetime Caps | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
FIXED | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
11.500 - 11.999 | 11,546,757.47 | 7 | 4.91 | 1,649,536.78 | 5.925 | 358 | 693 | 69.53 | |||||||||||||||||
12.000 - 12.499 | 132,120,527.45 | 104 | 56.23 | 1,270,389.69 | 6.255 | 347 | 742 | 64.55 | |||||||||||||||||
12.500 - 12.999 | 78,557,496.92 | 61 | 33.44 | 1,287,827.82 | 6.667 | 313 | 731 | 64.90 | |||||||||||||||||
13.000 - 13.499 | 6,561,641.61 | 13 | 2.79 | 504,741.66 | 7.194 | 358 | 731 | 70.79 | |||||||||||||||||
13.500 - 13.999 | 2,151,810.54 | 4 | 0.92 | 537,952.64 | 7.826 | 358 | 729 | 66.84 | |||||||||||||||||
14.000 - 14.499 | 842,734.96 | 2 | 0.36 | 421,367.48 | 8.286 | 358 | 715 | 67.01 | |||||||||||||||||
14.500 - 14.999 | 439,026.21 | 1 | 0.19 | 439,026.21 | 8.500 | 359 | 632 | 75.00 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 28 of 31
Aggregate Group 2 Mortgage Loans
Next Interest Adjustment Date | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
FIXED | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
December 2009 | 3,001,428.16 | 5 | 1.28 | 600,285.63 | 7.358 | 357 | 753 | 67.19 | |||||||||||||||||
January 2010 | 3,256,142.74 | 4 | 1.39 | 814,035.69 | 6.587 | 358 | 747 | 69.81 | |||||||||||||||||
February 2010 | 2,400,461.88 | 5 | 1.02 | 480,092.38 | 7.524 | 359 | 700 | 72.18 | |||||||||||||||||
November 2011 | 772,578.45 | 1 | 0.33 | 772,578.45 | 6.325 | 356 | 733 | 71.28 | |||||||||||||||||
December 2011 | 32,172,813.99 | 19 | 13.69 | 1,693,306.00 | 6.519 | 346 | 749 | 67.63 | |||||||||||||||||
January 2012 | 57,002,020.13 | 37 | 24.26 | 1,540,595.14 | 6.331 | 358 | 720 | 66.40 | |||||||||||||||||
February 2012 | 24,182,653.18 | 23 | 10.29 | 1,051,419.70 | 6.303 | 359 | 733 | 66.72 | |||||||||||||||||
March 2012 | 4,585,500.00 | 5 | 1.95 | 917,100.00 | 6.465 | 360 | 719 | 62.27 | |||||||||||||||||
December 2013 | 8,985,392.47 | 8 | 3.82 | 1,123,174.06 | 6.297 | 357 | 691 | 63.67 | |||||||||||||||||
January 2014 | 7,152,358.48 | 9 | 3.04 | 794,706.50 | 6.600 | 358 | 755 | 68.88 | |||||||||||||||||
February 2014 | 914,280.34 | 1 | 0.39 | 914,280.34 | 6.700 | 359 | 763 | 57.19 | |||||||||||||||||
March 2014 | 1,597,500.00 | 1 | 0.68 | 1,597,500.00 | 6.100 | 360 | 700 | 75.00 | |||||||||||||||||
November 2016 | 586,603.06 | 1 | 0.25 | 586,603.06 | 6.375 | 356 | 711 | 80.00 | |||||||||||||||||
December 2016 | 28,817,451.15 | 23 | 12.27 | 1,252,932.66 | 6.499 | 332 | 742 | 65.74 | |||||||||||||||||
January 2017 | 37,230,794.16 | 30 | 15.85 | 1,241,026.47 | 6.370 | 289 | 747 | 60.45 | |||||||||||||||||
February 2017 | 16,882,016.97 | 18 | 7.19 | 937,889.83 | 6.459 | 304 | 743 | 60.09 | |||||||||||||||||
March 2017 | 1,980,000.00 | 1 | 0.84 | 1,980,000.00 | 6.425 | 180 | 779 | 63.09 | |||||||||||||||||
April 2017 | 700,000.00 | 1 | 0.30 | 700,000.00 | 6.475 | 360 | 795 | 60.00 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 29 of 31
Aggregate Group 2 Mortgage Loans
Initial Fixed Period | |||||||||||||||||||||||||
Description (months) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
FIXED | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
36 | 8,658,032.78 | 14 | 3.69 | 618,430.91 | 7.114 | 358 | 736 | 69.56 | |||||||||||||||||
60 | 118,715,565.75 | 85 | 50.53 | 1,396,653.71 | 6.382 | 355 | 731 | 66.67 | |||||||||||||||||
84 | 18,649,531.29 | 19 | 7.94 | 981,554.28 | 6.416 | 358 | 720 | 66.32 | |||||||||||||||||
120 | 86,196,865.34 | 74 | 36.69 | 1,164,822.50 | 6.432 | 305 | 745 | 62.34 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Initial Rate Cap | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
FIXED | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
3.000 | 232,219,995.16 | 192 | 98.84 | 1,209,479.14 | 6.431 | 337 | 735 | 65.14 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Subsequent Rate Cap | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
FIXED | 2,729,005.99 | 3 | 1.16 | 909,668.66 | 6.758 | 118 | 750 | 65.67 | |||||||||||||||||
1.000 | 226,947,721.69 | 187 | 96.59 | 1,213,624.18 | 6.429 | 337 | 735 | 65.02 | |||||||||||||||||
3.000 | 5,272,273.47 | 5 | 2.24 | 1,054,454.69 | 6.495 | 320 | 736 | 70.52 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 30 of 31
Aggregate Group 2 Mortgage Loans
Collateral Grouped by Occupancy Rates | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
80.00 - 89.99 | 6,549,306.34 | 7 | 2.79 | 935,615.19 | 6.504 | 253 | 728 | 66.49 | |||||||||||||||||
90.00 - 99.99 | 111,375,722.69 | 68 | 47.40 | 1,637,878.27 | 6.414 | 337 | 736 | 67.88 | |||||||||||||||||
100.00 + | 117,023,972.12 | 120 | 49.81 | 975,199.77 | 6.450 | 336 | 735 | 62.47 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Collateral Grouped by Year Built | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
1954 and Earlier | 33,572,961.32 | 38 | 14.29 | 883,498.98 | 6.479 | 343 | 737 | 62.14 | |||||||||||||||||
1955-1959 | 18,415,470.91 | 18 | 7.84 | 1,023,081.72 | 6.456 | 358 | 731 | 69.35 | |||||||||||||||||
1960-1964 | 48,457,400.23 | 38 | 20.62 | 1,275,194.74 | 6.338 | 358 | 730 | 65.75 | |||||||||||||||||
1965-1969 | 12,611,788.89 | 13 | 5.37 | 970,137.61 | 6.541 | 357 | 723 | 69.43 | |||||||||||||||||
1970-1974 | 29,673,508.53 | 19 | 12.63 | 1,561,763.61 | 6.521 | 337 | 732 | 71.53 | |||||||||||||||||
1975-1979 | 20,621,371.35 | 15 | 8.78 | 1,374,758.09 | 6.472 | 318 | 738 | 61.07 | |||||||||||||||||
1980-1984 | 13,248,766.46 | 14 | 5.64 | 946,340.46 | 6.634 | 273 | 725 | 64.88 | |||||||||||||||||
1985-1989 | 34,572,852.40 | 21 | 14.72 | 1,646,326.30 | 6.295 | 315 | 742 | 62.25 | |||||||||||||||||
1990-1994 | 13,816,320.20 | 9 | 5.88 | 1,535,146.69 | 6.346 | 333 | 755 | 61.57 | |||||||||||||||||
1995-1999 | 4,696,523.17 | 4 | 2.00 | 1,174,130.79 | 6.376 | 332 | 749 | 62.21 | |||||||||||||||||
2000-2004 | 1,097,215.71 | 1 | 0.47 | 1,097,215.71 | 6.875 | 117 | 743 | 61.11 | |||||||||||||||||
2005-2009 | 4,164,821.98 | 5 | 1.77 | 832,964.40 | 6.744 | 282 | 752 | 66.67 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Collateral Grouped by Renovated | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
Yes | 185,320,547.49 | 137 | 78.88 | 1,352,704.73 | 6.384 | 336 | 736 | 65.38 | |||||||||||||||||
No | 49,628,453.66 | 58 | 21.12 | 855,662.99 | 6.624 | 326 | 735 | 64.27 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.
ISAC 2007-2
Computational Materials: Preliminary Structural Term Sheet
Page 31 of 31
Aggregate Group 2 Mortgage Loans
Collateral Grouped by Debt Service Coverage Ratios | |||||||||||||||||||||||||
Description (%) | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
1.13 and Less | 37,310,059.19 | 26 | 15.88 | 1,435,002.28 | 6.629 | 357 | 728 | 67.96 | |||||||||||||||||
1.14 - 1.19 | 64,691,285.07 | 57 | 27.53 | 1,134,934.83 | 6.347 | 358 | 726 | 67.07 | |||||||||||||||||
1.20 - 1.21 | 38,287,327.70 | 32 | 16.30 | 1,196,478.99 | 6.467 | 354 | 748 | 64.47 | |||||||||||||||||
1.22 - 1.24 | 27,872,464.20 | 24 | 11.86 | 1,161,352.68 | 6.411 | 345 | 746 | 68.51 | |||||||||||||||||
1.25 - 1.29 | 30,085,265.85 | 25 | 12.81 | 1,203,410.63 | 6.408 | 289 | 718 | 66.23 | |||||||||||||||||
1.30 - 1.49 | 31,329,515.78 | 23 | 13.33 | 1,362,152.86 | 6.403 | 270 | 753 | 59.43 | |||||||||||||||||
1.50 - 2.08 | 4,859,113.55 | 7 | 2.07 | 694,159.08 | 6.347 | 305 | 753 | 38.43 | |||||||||||||||||
2.09 and Greater | 513,969.81 | 1 | 0.22 | 513,969.81 | 6.475 | 358 | 800 | 24.01 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
Aggregate Group 2 Mortgage Loans
Collateral Grouped by Number of Units | |||||||||||||||||||||||||
Description | Current Balance ($) | # of Loans | % of Total | Average Balance ($) | Gross WAC (%) | Rem Term (mos) | WA FICO | Orig. LTV (%) | |||||||||||||||||
0 - 4 | 6,452,031.16 | 5 | 2.75 | 1,290,406.23 | 6.584 | 169 | 743 | 60.93 | |||||||||||||||||
5 - 9 | 38,560,898.72 | 58 | 16.41 | 664,843.08 | 6.529 | 341 | 735 | 60.67 | |||||||||||||||||
10 - 14 | 28,232,735.58 | 33 | 12.02 | 855,537.44 | 6.470 | 314 | 733 | 62.01 | |||||||||||||||||
15 - 24 | 51,315,446.33 | 46 | 21.84 | 1,115,553.18 | 6.447 | 341 | 732 | 65.11 | |||||||||||||||||
25 - 49 | 74,250,940.40 | 41 | 31.60 | 1,810,998.55 | 6.356 | 351 | 735 | 66.62 | |||||||||||||||||
50 + | 36,136,948.96 | 12 | 15.38 | 3,011,412.41 | 6.422 | 327 | 743 | 70.18 | |||||||||||||||||
TOTAL | 234,949,001.15 | 195 | 100.00 | 1,204,866.67 | 6.434 | 334 | 736 | 65.15 |
![](https://capedge.com/proxy/FWP/0001144204-07-015877/bearstearns_logo-horizsmall.jpg)
This information should be considered only after reading Bear Stearns’ statement regarding Securities, Pricing Estimates and Other Information (the “Statement”), which should be attached. Do not use or rely on this information if you have not received and reviewed this Statement. You may obtain a copy of the Statement from your sales representative.