ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE5 Inactive
Filed: 14 Jun 07, 12:00am
Registration Statement No. 333-141008
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5 FREE WRITING PROSPECTUS
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The following is a free writing prospectus. The information in this free writing prospectus is preliminary and
is subject to completion or change.
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FREE WRITING PROSPECTUS
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ACE Securities Corp.
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$397,991,000 (Approximate)
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Home Equity Loan Trust
Series 2007-HE5
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ACE Securities Corp.
(Depositor)
ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE5
(Issuing Entity)
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Deutsche Bank [LOGO]
June 13, 2007
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
1
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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The analysis in this report is based on information provided by ACE Securities Corp. (the "Depositor"). Investors are urged to read
the base prospectus and the prospectus supplement and other relevant documents filed or to be filed with the Securities and Exchange
Commission because they contain important information. Such documents may be obtained without charge at the Securities and Exchange
Commission's website. Once available, the base prospectus and prospectus supplement may be obtained without charge by contacting
Deutsche Bank Securities Inc.'s ("DBSI") trading desk at (212) 250-7730. This free writing prospectus is not required to contain all
information that is required to be included in the base prospectus and the prospectus supplement (collectively, the "Prospectus").
The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free
writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior
similar free writing prospectus relating to these securities. This free writing prospectus is not an offer to sell or a solicitation
of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted. You should consult your
own counsel, accountant, and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these
securities.
The attached information contains certain tables and other statistical analyses (the "Computational Materials") which have been
prepared by DBSI in reliance upon information furnished by the Depositor. Numerous assumptions were used in preparing the
Computational Materials that may or may not be reflected herein. As such, no assurance can be given as to whether the Computational
Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These
Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting
advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on
prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and
principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or
faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational
Materials assume no losses on the underlying assets and no interest shortfalls. The specific characteristics of the securities may
differ from those shown in the Computational Materials by a permitted variance of +/- 5% prior to issuance. Neither DBSI nor any of
its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or
the payments or yield on the securities.
An investor or potential investor in the certificates (and each employee, representative, or other agent of such person or entity)
may disclose to any and all persons, without limitation, the tax treatment and tax structure of the transaction (as defined in
United States Treasury Regulation Section 1.6011-4) and all related materials of any kind, including opinions or other tax analyses,
that are provided to such person or entity. However, such person or entity may not disclose any other information relating to this
transaction unless such information is related to such tax treatment and tax structure.
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY DBSI AND NOT BY THE ISSUING ENTITY OF THE SECURITIES OR ANY OF ITS AFFILIATES. DBSI
IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUING ENTITY IN CONNECTION WITH THE PROPOSED TRANSACTION.
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
2
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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FREE WRITING PROSPECTUS DATED June 13, 2007
ACE Securities Corp.
Home Equity Loan Trust, Series 2007-HE5
$397,991,000 (Approximate)
All dollar amounts and percentages contained herein are subject to a permitted variance of +/- 5%
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Structure Overview
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To 10% Optional Termination
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Principal
Payment Pmt. Interest Legal Expected
Class Approximate WAL Window Delay Accrual Final Ratings
Size ($) Type (yrs) (months) (days) Basis Maturity (S / M)
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Offered Certificates:
A-1 $156,231,000 Float 2.11 1 - 83 0 ACT/360 July 2037 AAA/Aaa
A-2A 77,627,000 Float 1.00 1 - 22 0 ACT/360 July 2037 AAA/Aaa
A-2B 26,184,000 Float 2.00 22 - 27 0 ACT/360 July 2037 AAA/Aaa
A-2C 30,709,000 Float 3.00 27 - 65 0 ACT/360 July 2037 AAA/Aaa
A-2D 15,770,000 Float 6.58 65 - 83 0 ACT/360 July 2037 AAA/Aaa
M-1 18,590,000 Float 5.17 49 - 83 0 ACT/360 July 2037 [AA+]/Aa1
M-2 17,111,000 Float 4.93 45 - 83 0 ACT/360 July 2037 [AA]/Aa2
M-3 10,562,000 Float 4.82 43 - 83 0 ACT/360 July 2037 [AA-]/Aa3
M-4 8,872,000 Float 4.77 42 - 83 0 ACT/360 July 2037 [A+]/A1
M-5 8,239,000 Float 4.73 41 - 83 0 ACT/360 July 2037 [A]/A2
M-6 8,027,000 Float 4.70 40 - 83 0 ACT/360 July 2037 [A-]/A3
M-7 7,394,000 Float 4.68 39 - 83 0 ACT/360 July 2037 [BBB+]/Baa1
M-8 6,549,000 Float 4.66 38 - 83 0 ACT/360 July 2037 [BBB]/Baa2
M-9 6,126,000 Float 4.64 38 - 83 0 ACT/360 July 2037 [BBB-]/Baa3
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Total Offered: $397,991,000
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Pricing Speed
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Fixed-Rate Mortgage Loans 100% PPC (4% CPR growing to 23% CPR over 12 months. 23% CPR thereafter)
Adjustable-Rate 100% PPC with regard to ARM loans and hybrid ARM loans with initial reset periods less than or
Mortgage Loans equal to 2 years, 5% CPR in month 1, an additional 2% CPR for each month thereafter, building to
27% CPR in month 12 and remaining constant at 27% CPR until month 23, increasing to and remaining
constant at 60% CPR from month 24 until month 27 and decreasing and remaining constant at 30% CPR
from month 28 and thereafter; provided, however, the prepayment rate will not exceed 85% CPR per
annum in any period for any percentage of PPC; and 100% PPC with regard to ARM loans and hybrid
ARM loans with initial reset periods greater than 2 years, 5% CPR in month 1, an additional 2%
CPR for each month thereafter, building to 27% CPR in month 12 and remaining constant at 27% CPR
until month 35, increasing to and remaining constant at 60% CPR from month 36 until month 39 and
decreasing and remaining constant at 30% CPR from month 40 and thereafter; provided, however, the
prepayment rate will not exceed 85% CPR per annum in any period for any percentage of PPC.
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
3
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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Transaction Overview
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Certificates: The Class A-1 Certificates (the "Class A-1 Certificates") and the Class A-2A, Class A-2B, Class
A-2C and Class A-2D Certificates (collectively, the "Class A-2 Certificates"; and together with
the Class A-1 Certificates, the "Senior Certificates" or "Class A Certificates"), and the Class
M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9
Certificates (collectively, the "Mezzanine Certificates"). The Class A-1 Certificates are backed
by conforming principal balance, fixed-rate and adjustable-rate first and second lien mortgage
loans (the "Group I Mortgage Loans") and the Class A-2 Certificates are backed by fixed-rate and
adjustable-rate first and second lien mortgage loans with conforming and non-conforming principal
balances (the "Group II Mortgage Loans").
The Mezzanine Certificates are backed by the Group I Mortgage Loans and Group II Mortgage Loans
(collectively, the "Mortgage Loans"). The Senior Certificates along with the Mezzanine
Certificates are also referred to herein collectively as the "Offered Certificates." The trust
will also issue the Class CE Certificates, the Class P Certificates and the Class R Certificates
which are referred to herein collectively as the "Non-offered Certificates". The pass-through
rate on the Class A-1 Certificates will be the lesser of (i) One-Month LIBOR plus a margin and
(ii) the applicable Net WAC Pass-Through Rate. The pass-through rates on the Class A-2
Certificates will be the lesser of (i) One-Month LIBOR plus their respective margins and (ii) the
applicable Net WAC Pass-Through Rate. The pass-through rates on the Mezzanine Certificates will
be the lesser of (i) One-Month LIBOR plus their respective margins and (ii) the applicable Net
WAC Pass-Through Rate.
Collateral: As of the Cut-off Date, the Mortgage Loans will consist of approximately 1,835 adjustable-rate
and fixed-rate, first and second lien, closed-end mortgage loans. The aggregate outstanding
principal balance of all of the Mortgage Loans is approximately $422,493,883 as of the Cut-off
Date. The Mortgage Loans will be separated into two groups. The Group I Mortgage Loans will
represent approximately 1,081 conforming principal balance fixed-rate and adjustable-rate
Mortgage Loans totaling approximately $215,341,902 and the Group II Mortgage Loans will represent
approximately 754 conforming and non-conforming principal balance fixed and adjustable-rate
Mortgage Loans totaling approximately $207,151,981.
Class A Certificates: Class A-1, Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates Class M-1, Class M-2,
Mezzanine Certificates: Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates
Depositor: ACE Securities Corp.
Issuing Entity: ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE5. The Issuing Entity is also
referred to herein as the trust
Originators: Aggregate Remaining % of Aggregate Remaining
Originator Principal Balance ($) Principal Balance
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db home lending llc (formerly known as
Chapel Funding LLC) $206,107,637 48.78%
DBASAP 120,278,535 28.47
MortgageIT, Inc. 95,853,779 22.69
Other (Less than 5% individually) 253,932 0.06
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$422,493,883 100.00%
Master Servicer and the Wells Fargo Bank, National Association
Securities Administrator:
Servicer: Ocwen Loan Servicing, LLC
Trustee: HSBC Bank USA, National Association
Custodians: Wells Fargo Bank, National Association and Deutsche Bank National Trust Company
Credit Risk Manager: Clayton Fixed Income Services Inc.
Underwriter: Deutsche Bank Securities Inc.
Swap Provider: TBD
Cap Provider: TBD
Cut-off Date: June 1, 2007
Expected Pricing: Week of June 18, 2007
Expected Closing Date: On or about June 29, 2007
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
4
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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Transaction Overview (Cont.)
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Record Date: For so long as the Offered Certificates are held in book-entry form, the Record Date will be the
business day immediately preceding the related Distribution Date. With respect to any Offered
Certificates held in definitive form, the Record Date will be the last business day of the month
immediately preceding the month in which the related Distribution Date occurs.
Distribution Date: 25th day of each month (or the next business day if such day is not a business day) commencing in
July 2007.
Determination Date: The Determination Date with respect to any Distribution Date is the 15th day of the calendar
month in which such Distribution Date occurs, or if such 15th day is not a business day, the
business day immediately preceding such 15th day.
Servicer Remittance Date: With respect to any Distribution Date, the 22nd day of the month in which such Distribution Date
occurs; provided that if the 22nd day of a given month is a Saturday, the Servicer Remittance
Date shall be the immediately preceding business day and if the 22nd day of a given month is a
Sunday or otherwise not a business day (except for Saturdays), the Servicer Remittance Date shall
be the next business day.
Due Period: The Due Period with respect to any Distribution Date commences on the second day of the month
immediately preceding the month in which such Distribution Date occurs and ends on the first day
of the month in which such Distribution Date occurs.
Prepayment Period: The Prepayment Period with respect to any Distribution Date shall be (a) with respect to
principal prepayments in full, the period from the 16th day of the month immediately preceding
the Distribution Date (or with respect to the first Prepayment Period, the period from the
Cut-off Date) to the 15th day of the month of the Distribution Date and (b) with respect to
principal prepayments in part, the calendar month immediately preceding the month in which the
Distribution Date occurs.
Interest Accrual Period: Interest will initially accrue on the Offered Certificates from the Closing Date to (but
excluding) the first Distribution Date, and thereafter, from the prior Distribution Date to (but
excluding) the current Distribution Date on an actual/360 basis. The Offered Certificates will
initially settle flat (no accrued interest).
Interest Distribution For any class of Offered Certificates on any Distribution Date is equal to interest accrued
Amount: during the related Interest Accrual Period on the certificate principal balance of that class
immediately prior to such Distribution Date at the then applicable pass-through rate for such
class, and reduced (to not less than zero), in the case of each such class, by the allocable
share, if any, for such class of prepayment interest shortfalls to the extent not covered by
Compensating Interest paid by the Master Servicer or the Servicer and shortfalls resulting from
the application of the Servicemembers' Civil Relief Act or similar state or local laws.
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
5
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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Transaction Overview (Cont.)
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Senior Interest For the Class A Certificates on any Distribution Date is an amount equal to the sum of the
Distribution Amount: Interest Distribution Amount for such Distribution Date for each such class and the Interest
Carry Forward Amount, if any, for such Distribution Date for each such class.
Administration Fee Rate: The Master Servicer, Servicer and Credit Risk Manager will be paid monthly fees on the
outstanding principal balance of the Mortgage Loans. These fees initially aggregate to a weighted
average cost of approximately 0.5230% for the Mortgage Loans.
Compensating Interest: The Servicer will be required to cover Prepayment Interest Shortfalls on prepayments in full on
the Mortgage Loans serviced by the Servicer and received during the portion of the Prepayment
Period occurring in the month prior to the month in which the related Distribution Date occurs up
to the Servicing Fee payable to the Servicer. If the Servicer fails to make any required
Compensating Interest payment, the Master Servicer will be required to do so up to the Master
Servicing Fee.
Prepayment Interest
Shortfalls: Interest shortfalls attributable to voluntary principal prepayments on the Mortgage Loans.
Optional Termination: On any Distribution Date on which the aggregate outstanding principal balance of the Mortgage
Loans as of the last day of the related Due Period is less than or equal to 10% of the aggregate
outstanding principal balance of the Mortgage Loans as of the Cut-off Date, the Master Servicer
may repurchase all of the Mortgage Loans and REO properties remaining in the trust, causing an
early retirement of the certificates, but is not required to do so.
Monthly Servicer The Servicer will collect monthly payments of principal and interest on the Mortgage Loans
Advances: serviced by the Servicer and will be obligated to make advances of delinquent monthly principal
and interest payments. The Servicer is required to advance delinquent payments of principal and
interest on the Mortgage Loans serviced by the Servicer only to the extent such amounts are
deemed recoverable. If the Servicer fails to make any such advance, a successor servicer (which
may be the Master Servicer) will be required to do so subject to its determination of
recoverability. The Servicer and the successor servicer are entitled to be reimbursed for these
advances, and therefore these advances are not a form of credit enhancement.
Credit Enhancement: 1) Excess Interest;
2) Overcollateralization ("OC"); and
3) Subordination.
Allocation of Losses: Any Realized Losses on the Mortgage Loans will be allocated on any Distribution Date, first, to
Net Monthly Excess Cashflow and Net Swap Payments received from the Swap Provider, if any,
second, to the Class CE Certificates, third, to the Class M-9 Certificates, fourth, to the Class
M-8 Certificates, fifth, to the Class M-7 Certificates, sixth, to the Class M-6 Certificates,
seventh, to the Class M-5 Certificates, eighth, to the Class M-4 Certificates, ninth, to the
Class M-3 Certificates, tenth, to the Class M-2 Certificates and eleventh, to the Class M-1
Certificates. There will be no allocation of Realized Losses to the Class A Certificates.
Investors in the Class A Certificates should note, however, that although Realized Losses cannot
be allocated to such Certificates, under certain loss scenarios there may not be enough principal
and interest on the Mortgage Loans to distribute to the holders of the Class A Certificates all
principal and interest amounts to which they are then entitled.
Once Realized Losses have been allocated to the Mezzanine Certificates, such amounts with respect
to such Certificates will no longer accrue interest and such amounts will not be reinstated
thereafter. However, the amount of any Realized Losses allocated to the Mezzanine Certificates
may be distributed to such certificates on a subordinated basis on any Distribution Date from Net
Monthly Excess Cashflow, to the extent available on such Distribution Date and any Net Swap
Payments paid by the Swap Provider and available for this purpose.
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
6
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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Transaction Overview (Cont.)
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Required Overcollateralization refers to the amount by which the aggregate principal balance of the
Overcollateralization Mortgage Loans exceeds the aggregate certificate principal balance of the Certificates. This
Amount: excess (the "Overcollateralization Amount") is intended to protect the certificateholders against
shortfalls in payments on the certificates. The Required Overcollateralization Amount for the
certificates, which will be fully established at issuance, is anticipated to be approximately
5.80% of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date. On or
after the Stepdown Date and provided that a trigger event is not in effect, the Required
Overcollateralization Amount may be permitted to decrease to approximately 11.60% of the
aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period,
subject to a floor amount of approximately 0.50% of the aggregate outstanding principal balance
of the Mortgage Loans as of the Cut-off Date. If, due to losses, the Overcollateralization Amount
is reduced below the Required Overcollateralization Amount, excess spread, to the extent
available, will be paid to the certificates then entitled to receive distributions in respect of
principal in order to reduce the certificate principal balance of such certificates to the extent
necessary to reach the Required Overcollateralization Amount. In addition, Net Swap Payments paid
by the Swap Provider may be used to restore or maintain the Required Overcollateralization
Amount.
Overcollateralization An Overcollateralization Increase Amount for any Distribution Date is the lesser of (i) the Net
Increase Amount: Monthly Excess Cashflow and Net Swap Payments received from the Swap Provider, if any, for that
Distribution Date and (ii) the excess of the Required Overcollateralization Amount over the
current Overcollateralization Amount.
Overcollateralization An Overcollateralization Reduction Amount for any Distribution Date is the amount by which the
Reduction Amount: current Overcollateralization Amount exceeds the Required Overcollateralization Amount after
taking into account all other distributions to be made on the Distribution Date limited to the
distribution of principal on the Mortgage Loans.
Stepdown Date: Is the earlier of (i) the first Distribution Date after which the aggregate certificate principal
balance of the Class A Certificates has been reduced to zero and (ii) the later to occur of (x)
the Distribution Date occurring in July 2010 and (y) the first Distribution Date on which the
Credit Enhancement Percentage (calculated for this purpose only after taking into account
distributions of principal on the Mortgage Loans, but prior to any distribution of principal to
the holders of the certificates) is equal to or greater than approximately 54.90%.
Credit Enhancement The Credit Enhancement Percentage for any class of certificates and any Distribution Date is the
Percentage: percentage obtained by dividing (x) the aggregate certificate principal balance of the class or
classes subordinate thereto (which includes the Overcollateralization Amount) by (y) the
aggregate principal balance of the Mortgage Loans, calculated after giving effect to scheduled
payments of principal due during the related Due Period, to the extent received or advanced, and
unscheduled collections of principal received during the related Prepayment Period and
distribution of the Principal Distribution Amount to the holders of the certificates then
entitled to distributions of principal on the Distribution Date.
Class (S / M) Initial CE %* Targeted CE % On/After
----- ------- ------------- ----------------------
Step Down Date*
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A AAA/Aaa 27.45% 54.90%
M-1 [AA+]/Aa1 23.05% 46.10%
M-2 [AA]/Aa2 19.00% 38.00%
M-3 [AA-]/Aa3 16.50% 33.00%
M-4 [A+]/A1 14.40% 28.80%
M-5 [A]/A2 12.45% 24.90%
M-6 [A-]/A3 10.55% 21.10%
M-7 [BBB+]/Baa1 8.80% 17.60%
M-8 [BBB]/Baa2 7.25% 14.50%
M-9 [BBB-]/Baa3 5.80% 11.60%
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* Approximate
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
7
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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Transaction Overview (Cont.)
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Net Monthly Excess For any Distribution Date is equal to the sum of (i) any Overcollateralization Reduction Amount
Cashflow: and (ii) the excess of the Available Distribution Amount, net of any Net Swap Payment and the
Swap Termination Payment, if any, required to be made by the Securities Administrator, on behalf
of the supplemental interest trust (described below), to the Swap Provider under the Swap
Agreement, over the sum of (w) with respect to the Class A Certificates, the Senior Interest
Distribution Amount for such Distribution Date, (x) with respect to the Mezzanine Certificates,
the Interest Distribution Amount for such Distribution Date and (y) the amount of principal
remittance required to be distributed to the holders of the Certificates on such Distribution
Date.
Net WAC Pass- Class A-1 and Class A-2 Certificates: The per annum rate (subject to adjustment based on the
Through Rate: actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i)
12 and (ii) a fraction, expressed as a percentage, the numerator of which is the difference of
(a) the amount of interest which accrued on the Mortgage Loans in the related loan group in the
prior calendar month minus the fees payable to the Servicer, Master Servicer and the Credit Risk
Manager with respect to the related Mortgage Loans for such Distribution Date, over (b) the Group
I Allocation Percentage or Group II Allocation Percentage, as applicable, of any Net Swap Payment
or Swap Termination Payment made to the Swap Provider for such Distribution Date (which was not
caused by a Swap Provider Trigger Event, as defined in the Swap Agreement), and the denominator
of which is the aggregate principal balance of the Mortgage Loans in the related loan group as of
the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to
the first Distribution Date), after giving effect to principal prepayments received during the
related Prepayment Period.
Mezzanine Certificates: The per annum rate equal to the weighted average (weighted in proportion
to the results of subtracting from the aggregate principal balance of each loan group, the
certificate principal balance of the related Class A Certificates), of (i) the Net WAC
Pass-Through Rate for the Class A-1 Certificates and (ii) the Net WAC Pass-Through Rate for the
Class A-2 Certificates.
Group I Allocation Percentage: The aggregate principal balance of the Group I Mortgage Loans
divided by the sum of the aggregate principal balance of the Group I Mortgage Loans and the Group
II Mortgage Loans.
Group II Allocation Percentage: The aggregate principal balance of the Group II Mortgage Loans
divided by the sum of the aggregate principal balance of the Group I Mortgage Loans and the Group
II Mortgage Loans.
Net WAC Rate If on any Distribution Date the Pass-Through Rate for any class of certificates is limited by the
Carryover Amount: related Net WAC Pass-Through Rate, such class will be entitled to the "Net WAC Rate Carryover
Amount" which will be equal to the sum of (i) the excess of, if any, (a) the amount of interest
that would have accrued on such class based on one-month LIBOR plus the related margin over (b)
the amount of interest accrued on such class based on the related Net WAC Pass-Through Rate and
(ii) the unpaid portion of any related Net WAC Rate Carryover Amount from the prior Distribution
Date together with accrued interest on such unpaid portion at a rate equal to one-month LIBOR
plus the related margin for the most recently ended Interest Accrual Period. Any Net WAC Rate
Carryover Amount will be paid on such Distribution Date or future Distribution Dates to the
extent of funds available. The Net WAC Rate Carryover Amount will be distributed from certain
amounts received by the Securities Administrator, on behalf of the Supplemental Interest Trust
(described below), under the Swap Agreement, if any, and from the Net Monthly Excess Cashflow on
a subordinated basis on the same Distribution Date or on any subsequent Distribution Date to the
extent of available funds. The ratings on each class of certificates do not address the
likelihood of the payment of any Net WAC Rate Carryover Amount from Net Monthly Excess Cashflow.
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
8
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
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Transaction Overview (Cont.)
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Interest Carry The Interest Carry Forward Amount with respect to any class of Offered Certificates and any
Forward Amount Distribution Date is equal to the amount, if any, by which the Interest Distribution Amount for
that class of certificates for the immediately preceding Distribution Date exceeded the actual
amount distributed on the certificates in respect of interest on the immediately preceding
Distribution Date, together with any Interest Carry Forward Amount with respect to such class of
certificates remaining unpaid from the previous Distribution Date, plus interest accrued thereon
at the related Pass-Through Rate on the certificates for the most recently ended Interest Accrual
Period.
Group I Cap On the Closing Date, the Trustee will enter into a "Group I Cap Agreement", which will be
Agreement: effective for the period commencing on the Distribution Date occurring in July 2007 and ending
immediately following the Distribution Date occurring in December 2007, to make payments in
respect of any Net WAC Rate Carryover Amounts in respect of the Class A-1 Certificates and the
Mezzanine Certificates as described herein. The Group I Cap Agreement requires a cap payment in
an amount equal to the product of: (1) the excess, if any, of one-month LIBOR over a specified
strike rate for the related Distribution Date; (2) the related cap notional amount, which is
based on the lesser of (i) the expected amortization of the Group I Mortgage Loans and (ii) Group
I Scheduled Cap Notional Amount for the related Distribution Date and (3) a fraction, the
numerator of which is the actual number of days elapsed from the previous Distribution Date to
but excluding the current Distribution Date (or, for the first Distribution Date, the actual
number of days elapsed from the Closing Date to but excluding the first Distribution Date), and
the denominator of which is 360. The Group I Scheduled Cap Notional Amount for each Distribution
Date during the term of the Group I Cap Agreement is set forth on page 15 of this free writing
prospectus.
Group II Cap On the Closing Date, the Trustee will enter into a "Group II Cap Agreement", which will be
Agreement: effective for the period commencing on the Distribution Date occurring in July 2007 and ending
immediately following the Distribution Date occurring in December 2007, to make payments in
respect of any Net WAC Rate Carryover Amounts in respect of the Class A-2A, Class A-2B, Class
A-2C, Class A-2D Certificates and the Mezzanine Certificates as described herein. The Group II
Cap Agreement requires a cap payment in an amount equal to the product of: (1) the excess, if
any, of one-month LIBOR over a specified strike rate for the related Distribution Date; (2) the
related cap notional amount, which is based on the lesser of (i) the expected amortization of the
Group II Mortgage Loans and (ii) Group II Scheduled Cap Notional Amount for the related
Distribution Date and (3) a fraction, the numerator of which is the actual number of days elapsed
from the previous Distribution Date to but excluding the current Distribution Date (or, for the
first Distribution Date, the actual number of days elapsed from the Closing Date to but excluding
the first Distribution Date), and the denominator of which is 360. The Group II Scheduled Cap
Notional Amount for each Distribution Date during the term of the Group II Cap Agreement is set
forth on page 15 of this free writing prospectus.
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
9
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
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Transaction Overview (Cont.)
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Swap Agreement: On the Closing Date, the Trustee will enter into a Swap Agreement with the Swap Provider as
described in the final prospectus supplement. The Swap Agreement will have an initial notional
amount of $377,582,070. Under the Swap Agreement, commencing on the Distribution Date occurring
in January 2008, the trust (through a supplemental interest trust) will be obligated to pay an
amount equal to the product of (i) 5.45% per annum, (ii) the Swap Notional Amount (as defined
below) and (iii) a fraction, the numerator of which is 30 and the denominator of which is 360,
and the Swap Provider will be obligated to pay to the supplemental interest trust, for the
benefit of the holders of the Offered Certificates, an amount equal to the product of (i)
one-month LIBOR, (ii) the Swap Notional Amount and (iii) a fraction, the numerator of which is
the actual number of days elapsed during the related Interest Accrual Period and the denominator
of which is 360, until the Swap Agreement is terminated. The "Swap Notional Amount" for each
Distribution Date will be equal to the lesser of (a) the aggregate certificate principal balance
of the Offered Certificates on the day immediately preceding such Distribution Date, and (b) the
scheduled swap notional amount set forth in the Swap Agreement for such Distribution Date. Only
the net amount of the two obligations will be paid by the appropriate party (the "Net Swap
Payment"). See the attached schedule. A separate trust created under the pooling and servicing
agreement (the "Supplemental Interest Trust") will hold the Swap Agreement. The Swap Agreement
and any payments made by the Swap Provider thereunder will be assets of the Supplemental Interest
Trust but will not be assets of any REMIC. Upon early termination of the Swap Agreement, the
Supplemental Interest Trust or the Swap Provider may be liable to make a termination payment (the
"Swap Termination Payment") to the other party (regardless of which party caused the
termination). The Swap Termination Payment will be computed in accordance with the procedures set
forth in the Swap Agreement. In the event that the Securities Administrator, on behalf of the
Supplemental Interest Trust, is required to make a Swap Termination Payment, that payment will be
paid on the related Distribution Date, and on any subsequent Distribution Dates until paid in
full, and, if such Swap Termination Payment is not due as a result of the occurrence of a Swap
Provider Trigger Event (as defined in the Swap Agreement), such payment will be prior to
distributions to Certificateholders.
Available Distribution For any Distribution Date, net of the administrative fees, an amount equal to (i) the aggregate
Amount: amount of scheduled monthly payments on the Mortgage Loans due on the related Due Date and
received on or prior to the related Determination Date; (ii) unscheduled payments in respect of
the Mortgage Loans (including prepayments, insurance proceeds, liquidation proceeds, subsequent
recoveries and proceeds from repurchases of and substitutions for the Mortgage Loans occurring
during the Prepayment Period or proceeds from the repurchase of the Mortgage Loans due to the
Optional Termination of the Trust); (iii) all P&I Advances with respect to the Mortgage Loans
received for the Distribution Date; and (iv) all Compensating Interest paid by the Servicer or
the Master Servicer in respect of Prepayment Interest Shortfalls for the related Prepayment
Period.
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
10
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
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Transaction Overview (Cont.)
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Class A Principal Until the Stepdown Date, or if a Trigger Event occurs, the Class A Principal Distribution Amount
Distribution Amount: will be distributed to the holders of the Class A-1 Certificates and the Class A-2 Certificates
concurrently, on a pro rata basis based on the related Class A principal allocation percentage
(for any Distribution Date, the percentage equivalent of a fraction, the numerator of which is
the principal remittance amount for the Group I Mortgage Loans (in the case of the Class A-1
Certificates) or the principal remittance amount for the Group II Mortgage Loans (in the case of
the Class A-2 Certificates) and the denominator of which is equal to the principal remittance
amount for all of the Mortgage Loans).
Until the Stepdown Date, or if a Trigger Event occurs, the Class A Certificates will receive the
principal collected on the Mortgage Loans plus any excess interest and any Net Swap Payment
received by the Securities Administrator from the Swap Provider required to restore or maintain
the Required Overcollateralization Amount until the aggregate certificate principal balance of
the Class A Certificates has been reduced to zero. On or after the Stepdown Date, if no Trigger
Event occurs, principal paid on the Class A Certificates will be an amount such that the Class A
Certificates will maintain approximately a 54.90% Credit Enhancement Percentage (2x the Class A
Initial Credit Enhancement Percentage). The Class A Principal Distribution Amount will be
distributed to the holders of the Class A-1 Certificates and the Class A-2 Certificates to the
extent of their respective group-based principal distribution amount.
(xvii) Principal distributions to the Class A-2 Certificates will be allocated sequentially to
the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, in that order, until the
certificate principal balance of each such class has been reduced to zero; provided, however, on
any Distribution Date on which the aggregate certificate principal balance of the Mezzanine
Certificates has been reduced to zero and the Overcollateralization Amount is zero, all principal
distributions will be distributed to the Class A-2 Certificates concurrently, on a pro rata
basis, based on the certificate principal balance of each such class, until the certificate
principal balance of each such class has been reduced to zero.
Class M Principal Until the Stepdown Date, unless the aggregate certificate principal balance of the Class A
Distribution Amount: Certificates is reduced to zero, the Mezzanine Certificates will not receive any principal
payments. On or after the Stepdown Date (if no Trigger Event occurs), principal will be paid to
the Mezzanine Certificates, first to the Class M-1 Certificates until it reaches approximately a
46.10% Credit Enhancement Percentage (2x the Class M-1 Initial Credit Enhancement Percentage),
second to the Class M-2 Certificates until it reaches approximately a 38.00% Credit Enhancement
Percentage (2x the Class M-2 Initial Credit Enhancement Percentage), third to the Class M-3
Certificates until it reaches approximately a 33.00% Credit Enhancement Percentage (2x the Class
M-3 Initial Credit Enhancement Percentage), fourth to the Class M-4 Certificates until it reaches
approximately a 28.80% Credit Enhancement Percentage (2x the Class M-4 Initial Credit Enhancement
Percentage), fifth to the Class M-5 Certificates until it reaches approximately a 24.90% Credit
Enhancement Percentage (2x the Class M-5 Initial Credit Enhancement Percentage), sixth to the
Class M-6 Certificates until it reaches approximately a 21.10% Credit Enhancement Percentage (2x
the Class M-6 Initial Credit Enhancement Percentage), seventh to the Class M-7 Certificates until
it reaches approximately a 17.60% Credit Enhancement Percentage (2x the Class M-7 Initial Credit
Enhancement Percentage), eighth to the Class M-8 Certificates until it reaches approximately a
14.50% Credit Enhancement Percentage (2x the Class M-8 Initial Credit Enhancement Percentage),
ninth to the Class M-9 Certificates until it reaches approximately a 11.60% Credit Enhancement
Percentage (2x the Class M-9 Initial Credit Enhancement Percentage
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
11
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
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Transaction Overview (Cont.)
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Class M Principal If a Trigger Event occurs, principal payments will be paid first to the Class A Certificates in
Distribution Amount the manner and order of priority described under "Class A Principal Distribution Amount", in each
(continued): case until the certificate principal balance of each such class has been reduced to zero and,
then sequentially to the Mezzanine Certificates in their order of seniority, in each case until
the certificate principal balance of each such class has been reduced to zero.
Coupon Step-up: On the Distribution Date following the first possible optional termination date, the margins on
the Class A Certificates and the Mezzanine Certificates will increase to the following, provided
that the Pass-Through Rates on the Certificates will still be subject to the applicable Net WAC
Pass-Through Rate.
Class After Optional Termination
----- --------------------------
A 2 x Margin
M The lesser of 1.5 x Margin and Margin plus 0.50%
Trigger Event: If either the Delinquency Test or Cumulative Loss Test is violated.
Delinquency Test: The determination on any Distribution Date that the percentage obtained by dividing (x) the
principal amount of (1) Mortgage Loans delinquent 60 days or more, (2) Mortgage Loans in
foreclosure, (3) REO Properties and (4) Mortgage Loans discharged due to bankruptcy by (y) the
aggregate principal balance of the Mortgage Loans, in each case, as of the last day of the
previous calendar month, exceeds [29.14]% of the Credit Enhancement Percentage of the Class A
Certificates.
Cumulative Loss Test: The determination on any Distribution Date that the aggregate amount of Realized Losses incurred
since the Cut-off Date through the last day of the related Due Period divided by the aggregate
principal balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages
set forth below with respect to such Distribution Date:
Distribution Date Occurring in Percentage
------------------------------ ----------
July 2009 to June 2010 [2.15]%, plus 1/12th of [2.55]% for each month thereafter
July 2010 to June 2011 [4.70]%, plus 1/12th of [2.50]% for each month thereafter
July 2011 to June 2012 [7.20]%, plus 1/12th of [2.00]% for each month thereafter
July 2012 to June 2013 [9.20]%, plus 1/12th of [1.15]% for each month thereafter
July 2013 and thereafter [10.35]%
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
12
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------------
Transaction Overview (Cont.)
Payment Priority: On each Distribution Date, the Available Distribution Amount will be distributed as follows:
1. Commencing on the Distribution Date occurring in January 2008, to the Supplemental Interest
Trust to pay any Net Swap Payment or the Swap Termination Payment (not caused by a Swap
Provider Trigger Event (as defined in the Swap Agreement)) owed to the Swap Provider.
2. To pay interest to the Class A Certificates, pro rata, including any Interest Carry Forward
Amounts for such Distribution Date, and then to pay interest excluding any Interest Carry
Forward Amounts for such Distribution Date to the Mezzanine Certificates, on a sequential
basis.
3. To pay principal to the Class A Certificates in accordance with the principal payment
provisions described above.
4. To pay principal to the Mezzanine Certificates in accordance with the principal payment
provisions described above.
5. From Net Monthly Excess Cashflow, if any, to the certificates then entitled to receive
distributions in respect of principal in order to reduce the certificate principal balance
of the Certificates to the extent necessary to restore or maintain the Required
Overcollateralization Amount.
6. From remaining Net Monthly Excess Cashflow, if any, to pay the Interest Carry Forward
Amounts on the Mezzanine Certificates, on a sequential basis.
7. From remaining Net Monthly Excess Cashflow, if any, to pay the allocated Realized Losses on
the Mezzanine Certificates, on a sequential basis.
8. From remaining Net Monthly Excess Cashflow, if any, to pay the Net WAC Rate Carryover Amount
on the Class A Certificates and the Mezzanine Certificates in the same order of priority as
described in 2 above.
9. From remaining Net Monthly Excess Cashflow, if any, commencing on the Distribution Date
occurring in January 2008, to pay any Swap Termination Payment (caused by a Swap Provider
Trigger Event under the Swap Agreement) owed to the Swap Provider.
10. To pay any remaining amount to the Non-offered Certificates in accordance with the pooling
and servicing agreement.
Commencing on the Distribution Date occurring in January 2008, any Net Swap Payments on deposit
in the Supplemental Interest Trust will be paid after the Available Distribution Amount as
follows:
1. To pay any Net Swap Payment or the Swap Termination Payment (not caused by a Swap Provider
Trigger Event (as defined in the Swap Agreement)) owed to the Swap Provider.
2. To pay any unpaid interest on the Class A Certificates, including any Interest Carry Forward
Amounts for such Distribution Date, on a pro-rata basis and then to pay any unpaid interest
including any Interest Carry Forward Amounts for such Distribution Dates to the Mezzanine
Certificates, sequentially.
3. To pay any principal to the Class A Certificates and the Mezzanine Certificates, in
accordance with the principal payment provisions described above in an amount necessary to
restore or maintain the Required Overcollateralization Amount.
4. To pay any allocated Realized Losses remaining unpaid on the Mezzanine Certificates,
sequentially.
5. To pay the Net WAC Rate Carryover Amount on the Class A Certificates and the Mezzanine
Certificates remaining unpaid in the same order of priority as described above in 2.
6. To pay any Swap Termination Payment (caused by a Swap Provider Trigger Event under the Swap
Agreement) owed to the Swap Provider.
7. To pay any remaining amount to the Class CE Certificates.
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
13
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ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Transaction Overview (Cont.)
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ERISA: It is expected that the Offered Certificates may be purchased by, or with the assets of, employee
benefit plans subject to the Employee Retirement Income Security Act of 1974, as amended
("ERISA") or plans or arrangements subject to section 4975 of the Internal Revenue Code (each, a
"Plan"). Prior to the termination of the Supplemental Interest Trust, Plans or persons using
assets of a Plan may purchase the Offered Certificates if the purchase and holding meets the
requirements of an investor-based class exemption issued by the Department of Labor. Investors
should consult with their counsel with respect to the consequences under ERISA and the Internal
Revenue Code of a Plan's acquisition and ownership of such certificates.
Legal Investment: The Offered Certificates will not constitute "mortgage related securities" for purposes of the
Secondary Mortgage Market Enhancement Act of 1984.
Taxation - REMIC: One or more REMIC elections will be made for designated portions of the Trust (exclusive of
certain shortfall payments or payments from the Supplemental Interest Trust or the obligation to
make payments to the Supplemental Interest Trust pursuant to the Swap Agreement).
Form of Registration: Book-entry form through DTC, Clearstream and Euroclear.
Minimum Denominations: $25,000 and integral multiples of $1 in excess thereof.
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
14
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Group I Cap Schedule
--------------------------------------------------------------------------------------
Distribution Date Group I Scheduled Cap
Notional Amount ($) Strike Rate (%)
--------------------------------------------------------------------------------------
1 7/25/2007 215,341,902 7.50
2 8/25/2007 213,634,651 7.50
3 9/25/2007 211,557,204 7.50
4 10/25/2007 209,112,226 7.50
5 11/25/2007 206,304,283 7.50
6 12/25/2007 203,140,642 7.50
Group II Cap Schedule
--------------------------------------------------------------------------------------
Group II Scheduled Cap
Distribution Date Notional Amount ($) Strike Rate (%)
--------------------------------------------------------------------------------------
1 7/25/2007 207,151,981 7.50
2 8/25/2007 205,469,083 7.50
3 9/25/2007 203,434,900 7.50
4 10/25/2007 201,052,205 7.50
5 11/25/2007 198,325,556 7.50
6 12/25/2007 195,261,324 7.50
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
15
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Swap Schedule
- ------------------------------------------------------------------------------------------------------------------------------
Scheduled Swap Scheduled Swap
Distribution Date Notional Amount ($) Distribution Date Notional Amount ($)
- ------------------------------------------------------------------------------------------------------------------------------
1 7/25/2007 - 31 1/25/2010 175,381,754
2 8/25/2007 - 32 2/25/2010 170,049,998
3 9/25/2007 - 33 3/25/2010 164,864,080
4 10/25/2007 - 34 4/25/2010 159,819,979
5 11/25/2007 - 35 5/25/2010 154,913,785
6 12/25/2007 - 36 6/25/2010 150,141,695
7 1/25/2008 377,582,070 37 7/25/2010 143,607,516
8 2/25/2008 371,461,707 38 8/25/2010 142,580,911
9 3/25/2008 364,673,785 39 9/25/2010 137,260,095
10 4/25/2008 357,238,382 40 10/25/2010 132,190,848
11 5/25/2008 349,179,251 41 11/25/2010 128,521,889
12 6/25/2008 340,523,739 42 12/25/2010 124,955,669
13 7/25/2008 331,302,682 43 1/25/2011 121,489,286
14 8/25/2008 322,316,615 44 2/25/2011 118,119,921
15 9/25/2008 313,559,564 45 3/25/2011 114,845,036
16 10/25/2008 305,025,673 46 4/25/2011 111,661,757
17 11/25/2008 296,709,252 47 5/25/2011 108,567,500
18 12/25/2008 288,604,759 48 6/25/2011 105,559,751
19 1/25/2009 280,706,789 49 7/25/2011 102,636,072
20 2/25/2009 273,010,080 50 8/25/2011 99,794,092
21 3/25/2009 265,509,505 51 9/25/2011 97,031,507
22 4/25/2009 258,200,060 52 10/25/2011 94,346,078
23 5/25/2009 251,076,873 53 11/25/2011 91,735,633
24 6/25/2009 244,135,196 54 12/25/2011 89,198,058
25 7/25/2009 229,835,670 55 1/25/2012 86,731,300
26 8/25/2009 216,463,902 56 2/25/2012 84,333,366
27 9/25/2009 203,979,908 57 3/25/2012 82,002,318
28 10/25/2009 192,294,020 58 4/25/2012 79,736,273
29 11/25/2009 186,499,449 59 5/25/2012 77,533,401
30 12/25/2009 180,863,486 60 6/25/2012 75,391,926
- ------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
16
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Sensitivity Table
To 10% Call
-------------------------------------------------------------------------------------------------------
Fixed>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
Arm>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
-------------------------------------------------------------------------------------------------------
A-1 Avg Life (years) 21.71 4.03 2.11 1.44 1.19
First Payment Date Jul-07 Jul-07 Jul-07 Jul-07 Jul-07
Last Payment Date Apr-37 Jul-20 May-14 May-10 Sep-09
A-2A Avg Life (years) 14.57 1.55 1.00 0.84 0.69
First Payment Date Jul-07 Jul-07 Jul-07 Jul-07 Jul-07
Last Payment Date Feb-29 May-10 Apr-09 Dec-08 Sep-08
A-2B Avg Life (years) 23.34 3.48 2.00 1.74 1.40
First Payment Date Feb-29 May-10 Apr-09 Dec-08 Sep-08
Last Payment Date Apr-32 Aug-11 Sep-09 May-09 Feb-09
A-2C Avg Life (years) 27.68 6.71 3.00 2.14 1.84
First Payment Date Apr-32 Aug-11 Sep-09 May-09 Feb-09
Last Payment Date Apr-37 Oct-17 Nov-12 Dec-09 Jun-09
A-2D Avg Life (years) 29.82 12.48 6.58 2.76 2.12
First Payment Date Apr-37 Oct-17 Nov-12 Dec-09 Jun-09
Last Payment Date Apr-37 Jul-20 May-14 Jun-10 Sep-09
M-1 Avg Life (years) 28.71 8.58 5.17 4.60 3.72
First Payment Date Jun-33 Jul-11 Jul-11 Jun-10 Sep-09
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
M-2 Avg Life (years) 28.71 8.58 4.93 5.19 3.70
First Payment Date May-33 Jul-11 Mar-11 Apr-12 Oct-10
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
M-3 Avg Life (years) 28.70 8.58 4.82 4.74 3.34
First Payment Date Apr-33 Jul-11 Jan-11 Oct-11 Jul-10
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
-------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
17
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Sensitivity Table
To 10% Call (Continued)
-------------------------------------------------------------------------------------------------------
Fixed>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
Arm>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
M-4 Avg Life (years) 28.70 8.58 4.77 4.45 3.20
First Payment Date Apr-33 Jul-11 Dec-10 Jul-11 May-10
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
M-5 Avg Life (years) 28.70 8.58 4.73 4.27 3.13
First Payment Date Mar-33 Jul-11 Nov-10 Apr-11 Apr-10
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
M-6 Avg Life (years) 28.70 8.58 4.70 4.14 3.07
First Payment Date Mar-33 Jul-11 Oct-10 Feb-11 Mar-10
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
M-7 Avg Life (years) 28.70 8.58 4.68 4.04 3.01
First Payment Date Mar-33 Jul-11 Sep-10 Dec-10 Feb-10
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
M-8 Avg Life (years) 28.70 8.58 4.66 3.97 2.96
First Payment Date Mar-33 Jul-11 Aug-10 Nov-10 Jan-10
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
M-9 Avg Life (years) 28.70 8.58 4.64 3.92 2.92
First Payment Date Mar-33 Jul-11 Aug-10 Oct-10 Dec-09
Last Payment Date Apr-37 Jul-20 May-14 Sep-12 Apr-11
-------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
18
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Sensitivity Table
To Maturity
-------------------------------------------------------------------------------------------------------
Fixed>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
Arm>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
-------------------------------------------------------------------------------------------------------
A-1 Avg Life (years) 21.71 4.30 2.28 1.44 1.19
First Payment Date Jul-07 Jul-07 Jul-07 Jul-07 Jul-07
Last Payment Date May-37 Jan-34 Nov-22 May-10 Sep-09
A-2A Avg Life (years) 14.57 1.55 1.00 0.84 0.69
First Payment Date Jul-07 Jul-07 Jul-07 Jul-07 Jul-07
Last Payment Date Feb-29 May-10 Apr-09 Dec-08 Sep-08
A-2B Avg Life (years) 23.34 3.48 2.00 1.74 1.40
First Payment Date Feb-29 May-10 Apr-09 Dec-08 Sep-08
Last Payment Date Apr-32 Aug-11 Sep-09 May-09 Feb-09
A-2C Avg Life (years) 27.68 6.71 3.00 2.14 1.84
First Payment Date Apr-32 Aug-11 Sep-09 May-09 Feb-09
Last Payment Date Apr-37 Oct-17 Nov-12 Dec-09 Jun-09
A-2D Avg Life (years) 29.87 14.96 8.28 2.76 2.12
First Payment Date Apr-37 Oct-17 Nov-12 Dec-09 Jun-09
Last Payment Date May-37 Jul-33 Sep-22 Jun-10 Sep-09
M-1 Avg Life (years) 28.72 9.42 5.70 6.94 5.62
First Payment Date Jun-33 Jul-11 Jul-11 Jun-10 Sep-09
Last Payment Date May-37 Oct-31 Sep-21 Sep-19 Jul-16
M-2 Avg Life (years) 28.72 9.40 5.45 5.89 4.07
First Payment Date May-33 Jul-11 Mar-11 Apr-12 Oct-10
Last Payment Date May-37 Nov-30 Dec-20 Nov-17 Feb-15
M-3 Avg Life (years) 28.71 9.38 5.33 5.13 3.64
First Payment Date Apr-33 Jul-11 Jan-11 Oct-11 Jul-10
Last Payment Date May-37 Jan-30 Jun-20 Jun-17 Oct-14
-------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
19
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Sensitivity Table
To Maturity (Continued)
-------------------------------------------------------------------------------------------------------
Fixed>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
Arm>> 0% PPC 55% PPC 100% PPC 125% PPC 160% PPC
-------------------------------------------------------------------------------------------------------
M-4 Avg Life (years) 28.71 9.36 5.26 4.84 3.49
First Payment Date Apr-33 Jul-11 Dec-10 Jul-11 May-10
Last Payment Date May-37 May-29 Dec-19 Feb-17 Jul-14
M-5 Avg Life (years) 28.71 9.34 5.21 4.65 3.41
First Payment Date Mar-33 Jul-11 Nov-10 Apr-11 Apr-10
Last Payment Date May-37 Oct-28 Aug-19 Oct-16 Apr-14
M-6 Avg Life (years) 28.71 9.31 5.16 4.50 3.34
First Payment Date Mar-33 Jul-11 Oct-10 Feb-11 Mar-10
Last Payment Date May-37 Feb-28 Feb-19 Jun-16 Jan-14
M-7 Avg Life (years) 28.71 9.27 5.11 4.38 3.26
First Payment Date Mar-33 Jul-11 Sep-10 Dec-10 Feb-10
Last Payment Date May-37 Apr-27 Aug-18 Jan-16 Oct-13
M-8 Avg Life (years) 28.71 9.22 5.07 4.29 3.19
First Payment Date Mar-33 Jul-11 Aug-10 Nov-10 Jan-10
Last Payment Date May-37 Jun-26 Feb-18 Aug-15 Jun-13
M-9 Avg Life (years) 28.71 9.15 5.00 4.20 3.13
First Payment Date Mar-33 Jul-11 Aug-10 Oct-10 Dec-09
Last Payment Date May-37 Jul-25 Jul-17 Feb-15 Feb-13
-------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
20
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------ ------------------------------------------
Class A-1 Effective Net WAC Schedule* Class A-1 Effective Net WAC Schedule*
Effective Net Effective Net
Period Date WAC (%) Period Date WAC (%)
- ------------------------------------------ ------------------------------------------
1 7/25/2007 22.103 46 4/25/2011 25.141
2 8/25/2007 20.554 47 5/25/2011 25.528
3 9/25/2007 20.553 48 6/25/2011 25.281
4 10/25/2007 20.822 49 7/25/2011 25.528
5 11/25/2007 20.553 50 8/25/2011 25.269
6 12/25/2007 20.821 51 9/25/2011 25.263
7 1/25/2008 21.856 52 10/25/2011 25.519
8 2/25/2008 21.838 53 11/25/2011 25.390
9 3/25/2008 22.033 54 12/25/2011 25.661
10 4/25/2008 21.795 55 1/25/2012 25.397
11 5/25/2008 21.874 56 2/25/2012 25.390
12 6/25/2008 21.743 57 3/25/2012 25.915
13 7/25/2008 21.822 58 4/25/2012 25.379
14 8/25/2008 21.689 59 5/25/2012 25.660
15 9/25/2008 21.661 60 6/25/2012 25.463
16 10/25/2008 21.738 61 7/25/2012 12.876
17 11/25/2008 21.602 62 8/25/2012 12.454
18 12/25/2008 21.678 63 9/25/2012 12.447
19 1/25/2009 21.540 64 10/25/2012 12.864
20 2/25/2009 21.511 65 11/25/2012 12.452
21 3/25/2009 21.829 66 12/25/2012 12.883
22 4/25/2009 21.488 67 1/25/2013 12.468
23 5/25/2009 23.075 68 2/25/2013 12.461
24 6/25/2009 23.033 69 3/25/2013 13.788
25 7/25/2009 23.087 70 4/25/2013 12.447
26 8/25/2009 22.796 71 5/25/2013 12.864
27 9/25/2009 22.732 72 6/25/2013 12.464
28 10/25/2009 22.865 73 7/25/2013 12.880
29 11/25/2009 23.117 74 8/25/2013 12.457
30 12/25/2009 23.322 75 9/25/2013 12.449
31 1/25/2010 23.079 76 10/25/2013 12.857
32 2/25/2010 23.022 77 11/25/2013 12.445
33 3/25/2010 23.574 78 12/25/2013 12.874
34 4/25/2010 22.981 79 1/25/2014 12.459
35 5/25/2010 24.067 80 2/25/2014 12.451
36 6/25/2010 23.879 81 3/25/2014 13.777
37 7/25/2010 24.039 82 4/25/2014 12.436
38 8/25/2010 24.278 83 5/25/2014 12.843
39 9/25/2010 24.433 ------------------------------------------
40 10/25/2010 24.679 *PPC: 100% (ARM); PPC: 100% (Fixed)
41 11/25/2010 25.064 *1 Month LIBOR: 20%
42 12/25/2010 25.391 *6 Month Libor: 20%
43 1/25/2011 25.139 *Includes Net Swap Payments received from the
44 2/25/2011 25.142 Swap Provider
45 3/25/2011 25.935 *Includes Cap proceeds
- ------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
21
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------ ------------------------------------------
Class A-2 Effective Net WAC Schedule* Class A-2 Effective Net WAC Schedule*
Effective Net Effective Net
Period Date WAC (%) Period Date WAC (%)
- ------------------------------------------ ------------------------------------------
1 7/25/2007 21.896 46 4/25/2011 24.508
2 8/25/2007 20.379 47 5/25/2011 24.848
3 9/25/2007 20.378 48 6/25/2011 24.616
4 10/25/2007 20.640 49 7/25/2011 24.844
5 11/25/2007 20.376 50 8/25/2011 24.606
6 12/25/2007 20.637 51 9/25/2011 24.599
7 1/25/2008 21.678 52 10/25/2011 24.854
8 2/25/2008 21.658 53 11/25/2011 24.722
9 3/25/2008 21.840 54 12/25/2011 24.954
10 4/25/2008 21.615 55 1/25/2012 24.715
11 5/25/2008 21.689 56 2/25/2012 24.708
12 6/25/2008 21.565 57 3/25/2012 25.191
13 7/25/2008 21.638 58 4/25/2012 24.699
14 8/25/2008 21.511 59 5/25/2012 24.967
15 9/25/2008 21.483 60 6/25/2012 24.760
16 10/25/2008 21.555 61 7/25/2012 12.134
17 11/25/2008 21.426 62 8/25/2012 11.735
18 12/25/2008 21.497 63 9/25/2012 11.729
19 1/25/2009 21.365 64 10/25/2012 12.112
20 2/25/2009 21.342 65 11/25/2012 11.727
21 3/25/2009 21.639 66 12/25/2012 12.122
22 4/25/2009 21.417 67 1/25/2013 11.725
23 5/25/2009 22.500 68 2/25/2013 11.717
24 6/25/2009 22.669 69 3/25/2013 12.966
25 7/25/2009 22.724 70 4/25/2013 11.703
26 8/25/2009 22.453 71 5/25/2013 12.099
27 9/25/2009 22.384 72 6/25/2013 11.712
28 10/25/2009 22.536 73 7/25/2013 12.097
29 11/25/2009 22.638 74 8/25/2013 11.699
30 12/25/2009 22.884 75 9/25/2013 11.692
31 1/25/2010 22.658 76 10/25/2013 12.074
32 2/25/2010 22.604 77 11/25/2013 11.689
33 3/25/2010 23.111 78 12/25/2013 12.082
34 4/25/2010 22.637 79 1/25/2014 11.687
35 5/25/2010 23.465 80 2/25/2014 11.679
36 6/25/2010 23.323 81 3/25/2014 12.921
37 7/25/2010 23.474 82 4/25/2014 11.662
38 8/25/2010 23.727 83 5/25/2014 12.043
39 9/25/2010 23.877 ------------------------------------------
40 10/25/2010 24.159 *PPC: 100% (ARM); PPC: 100%
41 11/25/2010 24.369 (Fixed)
42 12/25/2010 24.722 *1 Month LIBOR: 20%
43 1/25/2011 24.497 *6 Month Libor: 20%
44 2/25/2011 24.491 *Includes Net Swap Payments
45 3/25/2011 25.213 received from the Swap Provider
- ------------------------------------------ *Includes Cap proceeds
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
22
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------ ------------------------------------------
Class M Effective Net WAC Schedule* Class M Effective Net WAC
Schedule*
Effective Net Effective Net
Period Date WAC (%) Period Date WAC (%)
- ------------------------------------------ ------------------------------------------
1 7/25/2007 22.001 46 4/25/2011 24.830
2 8/25/2007 20.468 47 5/25/2011 25.195
3 9/25/2007 20.467 48 6/25/2011 24.955
4 10/25/2007 20.732 49 7/25/2011 25.193
5 11/25/2007 20.466 50 8/25/2011 24.944
6 12/25/2007 20.731 51 9/25/2011 24.938
7 1/25/2008 21.769 52 10/25/2011 25.193
8 2/25/2008 21.750 53 11/25/2011 25.063
9 3/25/2008 21.938 54 12/25/2011 25.315
10 4/25/2008 21.707 55 1/25/2012 25.064
11 5/25/2008 21.783 56 2/25/2012 25.057
12 6/25/2008 21.656 57 3/25/2012 25.557
13 7/25/2008 21.731 58 4/25/2012 25.039
14 8/25/2008 21.602 59 5/25/2012 25.312
15 9/25/2008 21.574 60 6/25/2012 25.109
16 10/25/2008 21.648 61 7/25/2012 12.503
17 11/25/2008 21.515 62 8/25/2012 12.092
18 12/25/2008 21.589 63 9/25/2012 12.086
19 1/25/2009 21.454 64 10/25/2012 12.486
20 2/25/2009 21.428 65 11/25/2012 12.087
21 3/25/2009 21.736 66 12/25/2012 12.499
22 4/25/2009 21.453 67 1/25/2013 12.094
23 5/25/2009 22.793 68 2/25/2013 12.086
24 6/25/2009 22.855 69 3/25/2013 13.373
25 7/25/2009 22.909 70 4/25/2013 12.072
26 8/25/2009 22.628 71 5/25/2013 12.478
27 9/25/2009 22.562 72 6/25/2013 12.084
28 10/25/2009 22.703 73 7/25/2013 12.484
29 11/25/2009 22.882 74 8/25/2013 12.074
30 12/25/2009 23.107 75 9/25/2013 12.067
31 1/25/2010 22.873 76 10/25/2013 12.461
32 2/25/2010 22.817 77 11/25/2013 12.063
33 3/25/2010 23.347 78 12/25/2013 12.473
34 4/25/2010 22.812 79 1/25/2014 12.068
35 5/25/2010 23.772 80 2/25/2014 12.060
36 6/25/2010 23.607 81 3/25/2014 13.343
37 7/25/2010 23.762 82 4/25/2014 12.044
38 8/25/2010 24.007 83 5/25/2014 12.437
39 9/25/2010 24.160 ------------------------------------------
40 10/25/2010 24.423 *PPC: 100% (ARM); PPC: 100%
41 11/25/2010 24.723 (Fixed)
42 12/25/2010 25.062 *1 Month LIBOR: 20%
43 1/25/2011 24.824 *6 Month Libor: 20%
44 2/25/2011 24.822 *Includes Net Swap Payments
45 3/25/2011 25.581 received from the Swap Provider
- ------------------------------------------ *Includes Cap proceeds
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
23
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Excess Spread*
(Assumes Pricing Prepayment Speed, Excludes Basis Risk Shortfalls)
- ------------------------------------------------------------------------------------------------------------------------------------
Excess Excess Excess Excess
Spread in Spread in Spread in Spread in
bp 1 Month 6 Month bp bp 1 Month 6 Month bp
(Static Forward Forward (Forward (Static Forward Forward (Forward
Period LIBOR) LIBOR (%) LIBOR (%) LIBOR) Period LIBOR) LIBOR (%) LIBOR (%) LIBOR)
- ------------------------------------------------------------------------------------------------------------------------------------
1 364 5.3200 5.4019 364 45 492 5.6145 5.7013 511
2 276 5.3351 5.4092 275 46 487 5.6209 5.7097 506
3 276 5.3520 5.4132 273 47 489 5.6253 5.7166 510
4 294 5.3377 5.4129 292 48 487 5.6312 5.7258 509
5 276 5.3414 5.4150 274 49 488 5.6515 5.7321 511
6 294 5.3615 5.4134 290 50 487 5.6568 5.7370 509
7 281 5.3570 5.4096 281 51 487 5.6617 5.7421 509
8 281 5.3623 5.4046 281 52 488 5.6660 5.7449 510
9 284 5.3547 5.3991 284 53 486 5.6719 5.7494 510
10 282 5.3450 5.3950 282 54 487 5.6749 5.7531 512
11 284 5.3371 5.3908 284 55 486 5.6792 5.7570 510
12 283 5.3367 5.3885 283 56 485 5.6836 5.7630 510
13 285 5.3315 5.3849 285 57 488 5.6860 5.7697 512
14 284 5.3286 5.3824 284 58 485 5.6902 5.7766 509
15 285 5.3261 5.3797 285 59 490 5.6941 5.7823 516
16 286 5.3238 5.3758 286 60 493 5.6977 5.7892 519
17 286 5.3206 5.3730 286 61 507 5.7108 5.7943 499
18 288 5.3176 5.3698 288 62 489 5.7148 5.7986 480
19 287 5.3151 5.3671 287 63 489 5.7174 5.8004 479
20 288 5.3121 5.3887 288 64 506 5.7195 5.8014 497
21 292 5.3081 5.4111 292 65 489 5.7230 5.8041 480
22 298 5.3066 5.4380 298 66 506 5.7245 5.8059 498
23 411 5.3027 5.4628 413 67 489 5.7281 5.8082 480
24 435 5.3000 5.4897 438 68 488 5.7293 5.8142 479
25 436 5.4393 5.5197 438 69 540 5.7296 5.8187 534
26 433 5.4461 5.5257 435 70 488 5.7327 5.8252 478
27 433 5.4536 5.5317 436 71 505 5.7343 5.8315 498
28 435 5.4589 5.5372 438 72 487 5.7368 5.8356 479
29 439 5.4653 5.5427 446 73 504 5.7718 5.8400 494
30 442 5.4716 5.5476 449 74 487 5.7739 5.8422 475
31 441 5.4771 5.5538 448 75 486 5.7755 5.8428 475
32 442 5.4824 5.5675 449 76 503 5.7779 5.8423 493
33 448 5.4863 5.5832 455 77 486 5.7783 5.8436 475
34 453 5.4926 5.6005 460 78 502 5.7788 5.8437 493
35 497 5.4971 5.6152 509 79 485 5.7807 5.8446 474
36 499 5.5033 5.6317 512 80 485 5.7810 5.8499 473
37 503 5.5653 5.6488 517 81 536 5.7802 5.8543 528
38 482 5.5723 5.6554 496 82 484 5.7830 5.8605 472
39 479 5.5797 5.6630 492 83 501 5.7820 5.8652 492
40 484 5.5856 5.6674 499
41 487 5.5921 5.6730 505
42 489 5.5984 5.6784 508
43 487 5.6044 5.6846 506
44 487 5.6111 5.6920 506
- ------------------------------------------------------------------------------------------------------------------------------------
*Includes Net Swap Payments received from and paid to the Swap Provider
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
24
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
Breakeven CDR Table for the Mezzanine Certificates
The assumptions for the breakeven CDR table below are as follows:
- - The Pricing Prepayment Assumption is applied
- - 10% cleanup call is not exercised
- - Forward Curves
- - 40% Severity
- - Interest & Principal advancing
- - 6 month recovery lag
- - Triggers Failing
- - Defaults are in addition to prepayments
The table below displays the Constant Default Rate ("CDR") and the related cumulative collateral loss before the
referenced Class incurs a writedown.
--------------------------------------------------------------------------
Class CDR Break-Even (%) Cumulative Loss (%)
--------------------------------------------------------------------------
M-1 41.27 26.41
M-2 32.22 23.09
M-3 27.53 21.05
M-4 23.98 19.31
M-5 20.96 17.69
M-6 18.21 16.07
M-7 15.80 14.52
M-8 13.90 13.21
M-9 12.58 12.25
--------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
25
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
SUMMARY - AGGREGATE POOL*
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Mortgage Loans: 1,835 Index Type:
Aggregate Principal Balance: $422,493,883 6 Month LIBOR: 81.44%
Conforming Principal Balance Loans: $297,916,221 Fixed Rate: 18.56%
Average Principal Balance: $230,242 W.A. Initial Periodic Cap**: 2.995%
Range: $15,779 - $1,200,000 W.A. Subsequent Periodic Cap**: 1.002%
W.A. Coupon: 8.758% W.A. Lifetime Rate Cap**: 6.011%
Range: 5.250% - 16.875% Property Type:
W.A. Gross Margin**: 6.007% Single Family: 73.19%
Range: 3.875% - 8.125% PUD: 12.49%
W.A. Remaining Term (months): 346 2-4 Family: 9.24%
Range (months): 158 - 360 Condo: 4.98%
W.A. Seasoning (months): 2 Townhouse: 0.04%
Latest Maturity Date: June 1, 2037 Modular: 0.04%
State Concentration (Top 5): Rowhouse: 0.01%
California: 38.09% Occupancy Status:
Florida: 15.10% Primary: 91.85%
New York: 11.68% Investment: 7.27%
Arizona: 6.10% Second Home: 0.89%
New Jersey: 4.78% Documentation Status:
W.A. Original Combined LTV: 83.43% Full: 55.88%
Range: 16.67% - 100.00% Stated: 43.00%
First Liens: 93.64% Limited: 0.38%
Second Liens: 6.36% No Documentation: 0.74%
Non-Balloon Loans: 64.31% Non-Zero W.A. Prepayment Penalty - Term (months): 27
Non-Zero W.A. FICO Score: 627 Loans with Prepay Penalties: 72.81%
Interest Only Loans: 23.42%
Non-Zero W.A. Interest Only Term (months): 60
- ------------------------------------------------------------------------------------------------------------------------------------
* Subject to a permitted variance of +/- 5%
** ARM loans only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
26
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Originator
- ------------------------------------------------------------------------------------------------------------------------------------
Originator Number of Aggregate % of Aggregate W.A. W.A.
Mortgage Remaining Remaining W.A. Non-Zero Original
Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
db home lending llc 969 206,107,637 48.78 8.932 623 84.87
DBASAP 540 120,278,535 28.47 8.758 635 81.52
MortgageIT, Inc. 323 95,853,779 22.69 8.377 627 82.72
Other 3 253,932 0.06 10.115 543 88.03
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Collateral Type
- ------------------------------------------------------------------------------------------------------------------------------------
Collateral Type Number of Aggregate % of Aggregate W.A. W.A. W.A.
Mortgage Remaining Remaining Coupon Non-Zero Original
Loans Principal Balance ($) Principal Balance (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Fixed - 15 Year 5 804,903 0.19 8.372 643 63.58
Fixed - 15 Year IO 1 164,960 0.04 7.600 684 30.00
Fixed - 30 Year 147 36,552,811 8.65 7.178 692 73.97
Balloon - 15/30 360 26,140,266 6.19 12.070 630 99.21
Balloon - 20/30 3 137,909 0.03 13.711 629 100.00
Balloon - 30/40 56 14,598,342 3.46 8.340 628 82.98
ARM - 6 Month 30/50 1 329,910 0.08 7.800 656 75.00
ARM - 1 Year/6 Month 1 83,212 0.02 9.875 607 90.00
ARM - 2 Year/6 Month 373 74,534,751 17.64 9.292 608 81.54
ARM - 2 Year/6 Month IO 202 68,140,879 16.13 8.415 641 85.30
ARM - 2 Year/6 Month 30/40 Balloon 178 49,484,865 11.71 8.863 611 82.76
ARM - 2 Year/6 Month 30/50 Balloon 93 25,998,141 6.15 8.801 609 86.72
ARM - 2 Year/6 Month 30/40 - 10 Year* 143 36,609,462 8.67 8.831 601 82.56
ARM - 3 Year/6 Month 51 13,973,474 3.31 8.393 637 81.31
ARM - 3 Year/6 Month IO 60 23,715,310 5.61 7.858 646 84.88
ARM - 3 Year/6 Month 30/40 Balloon 83 27,443,158 6.50 8.354 613 82.46
ARM - 3 Year/6 Month 30/50 Balloon 10 1,933,550 0.46 9.018 580 79.07
ARM - 3 Year/6 Month 30/40 - 10 Year* 19 5,338,350 1.26 7.795 620 84.34
ARM - 5 Year/6 Month 10 2,882,500 0.68 8.109 646 82.75
ARM - 5 Year/6 Month IO 20 6,943,946 1.64 8.306 658 82.12
ARM - 5 Year/6 Month 30/50 Balloon 13 4,731,005 1.12 8.840 602 83.05
ARM - 5 Year/6 Month 30/40 - 10 Year* 6 1,952,181 0.46 7.993 624 81.85
- ----------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ----------------------------------------------------------------------------------------------------------------------------------
* Mortgage Loans which amortize on a 480 month remaining term to maturity for the first 120 months and thereafter on a 240 month
remaining term to maturity
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
27
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ----------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
IO Terms
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
IO Terms (mos.) Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
N/A 1,552 323,528,788 76.58 8.906 622 82.99
24 1 316,960 0.08 8.260 609 60.00
36 1 323,200 0.08 6.200 661 80.00
60 280 98,243,247 23.25 8.277 644 84.98
120 1 81,688 0.02 10.875 528 75.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Balance at Origination
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Principal Balance at Mortgage Remaining Remaining W.A. Non-Zero Original
Origination ($) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
0.01 - 50,000.00 132 5,234,656 1.24 12.191 617 97.25
50,000.01 - 100,000.00 305 22,655,850 5.36 11.005 615 89.83
100,000.01 - 150,000.00 306 38,788,647 9.18 9.920 609 83.31
150,000.01 - 200,000.00 229 40,275,725 9.53 9.091 608 80.93
200,000.01 - 250,000.00 186 41,495,955 9.82 8.827 616 82.28
250,000.01 - 300,000.00 156 43,000,951 10.18 8.721 613 81.23
300,000.01 - 350,000.00 131 42,643,305 10.09 8.295 631 84.13
350,000.01 - 400,000.00 98 36,601,740 8.66 8.623 617 83.05
400,000.01 - 450,000.00 87 37,060,621 8.77 8.366 640 82.78
450,000.01 - 500,000.00 77 36,757,041 8.70 8.202 640 81.16
500,000.01 - 550,000.00 43 22,535,977 5.33 8.007 649 86.69
550,000.01 - 600,000.00 38 21,735,599 5.14 8.070 643 87.55
600,000.01 - 650,000.00 15 9,518,735 2.25 7.627 665 80.37
650,000.01 - 700,000.00 12 8,052,484 1.91 7.658 678 83.52
700,000.01 - 750,000.00 11 7,955,286 1.88 7.564 644 83.09
750,000.01 - 800,000.00 4 3,102,201 0.73 8.242 655 92.36
800,000.01 - 850,000.00 1 810,000 0.19 7.600 632 90.00
900,000.01 - 950,000.00 1 939,500 0.22 6.500 752 80.00
1,000,000.01 or greater 3 3,329,611 0.79 7.722 669 71.51
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
28
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Remaining Principal Balance
- ------------------------------------------------------------------------------------------------------------------------------------
Aggregate % of Aggregate W.A. W.A.
Remaining Principal Number of Remaining Remaining W.A. Non-Zero Original
Balance ($) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
0.01 - 50,000.00 133 5,284,559 1.25 12.166 617 96.49
50,000.01 - 100,000.00 304 22,605,947 5.35 11.008 615 89.99
100,000.01 - 150,000.00 306 38,788,647 9.18 9.920 609 83.31
150,000.01 - 200,000.00 229 40,275,725 9.53 9.091 608 80.93
200,000.01 - 250,000.00 187 41,745,619 9.88 8.822 616 82.14
250,000.01 - 300,000.00 155 42,751,287 10.12 8.726 613 81.36
300,000.01 - 350,000.00 131 42,643,305 10.09 8.295 631 84.13
350,000.01 - 400,000.00 98 36,601,740 8.66 8.623 617 83.05
400,000.01 - 450,000.00 87 37,060,621 8.77 8.366 640 82.78
450,000.01 - 500,000.00 77 36,757,041 8.70 8.202 640 81.16
500,000.01 - 550,000.00 43 22,535,977 5.33 8.007 649 86.69
550,000.01 - 600,000.00 38 21,735,599 5.14 8.070 643 87.55
600,000.01 - 650,000.00 15 9,518,735 2.25 7.627 665 80.37
650,000.01 - 700,000.00 12 8,052,484 1.91 7.658 678 83.52
700,000.01 - 750,000.00 11 7,955,286 1.88 7.564 644 83.09
750,000.01 - 800,000.00 4 3,102,201 0.73 8.242 655 92.36
800,000.01 - 850,000.00 1 810,000 0.19 7.600 632 90.00
900,000.01 - 950,000.00 1 939,500 0.22 6.500 752 80.00
1,000,000.01 or greater 3 3,329,611 0.79 7.722 669 71.51
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Remaining Term
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A. W.A.
Months Remaining Number of Aggregate Remaining Remaining Coupon Non-Zero Original
Mortgage Loans Principal Balance ($) Principal Balance (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
121 - 180 366 27,110,129 6.42 11.933 631 97.73
181 - 240 3 137,909 0.03 13.711 629 100.00
301 - 360 1,466 395,245,845 93.55 8.538 627 82.44
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
29
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- -----------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Mortgage Rate
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
5.000 - 5.499 3 941,528 0.22 5.345 773 87.03
5.500 - 5.999 34 16,681,531 3.95 5.694 749 70.24
6.000 - 6.499 20 7,319,608 1.73 6.226 683 74.08
6.500 - 6.999 73 25,825,640 6.11 6.794 660 80.43
7.000 - 7.499 96 29,391,613 6.96 7.258 643 77.91
7.500 - 7.999 184 58,524,606 13.85 7.760 637 83.03
8.000 - 8.499 162 46,166,680 10.93 8.249 625 82.09
8.500 - 8.999 240 70,984,785 16.80 8.738 625 86.14
9.000 - 9.499 168 41,231,819 9.76 9.212 613 84.51
9.500 - 9.999 222 49,635,662 11.75 9.733 596 84.12
10.000 - 10.499 119 24,124,964 5.71 10.236 601 83.88
10.500 - 10.999 93 15,566,256 3.68 10.741 592 84.08
11.000 - 11.499 54 6,996,214 1.66 11.169 570 79.36
11.500 - 11.999 101 9,486,387 2.25 11.733 598 91.18
12.000 - 12.499 110 9,934,416 2.35 12.282 606 95.25
12.500 - 12.999 148 9,191,162 2.18 12.512 622 99.82
13.000 - 13.499 2 101,094 0.02 13.081 638 100.00
13.500 - 13.999 3 173,782 0.04 13.543 631 99.88
14.500 - 14.999 2 176,963 0.04 14.500 560 85.08
16.500 - 16.999 1 39,173 0.01 16.875 625 100.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
30
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Original Combined Loan-to-Value Ratio
- -----------------------------------------------------------------------------------------------------------------------------------
Original Combined Number of Aggregate % of Aggregate W.A. W.A.
Loan-to-Value Mortgage Remaining Remaining W.A. Non-Zero Original
Ratio (%) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Less than or equal to 50.00 52 10,372,737 2.46 8.002 631 40.29
50.01 - 55.00 17 3,362,254 0.80 7.803 628 53.08
55.01 - 60.00 36 10,293,074 2.44 8.644 593 58.41
60.01 - 65.00 58 13,650,720 3.23 8.036 626 63.38
65.01 - 70.00 109 28,662,710 6.78 8.414 602 68.81
70.01 - 75.00 98 22,106,474 5.23 8.549 604 74.29
75.01 - 80.00 308 85,342,584 20.20 8.100 637 79.75
80.01 - 85.00 194 47,802,067 11.31 8.805 605 84.48
85.01 - 90.00 371 102,940,690 24.37 8.756 628 89.80
90.01 - 95.00 196 59,290,816 14.03 8.872 648 94.82
95.01 - 100.00 396 38,669,756 9.15 10.924 639 99.86
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FICO Score at Origination
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
FICO Score Number of Aggregate Remaining Remaining W.A. Non-Zero Original
At Origination Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
1 - 499 4 670,226 0.16 11.255 484 56.68
500 - 524 77 15,940,568 3.77 10.111 515 74.72
525 - 549 107 22,058,504 5.22 9.577 537 73.21
550 - 574 159 34,900,701 8.26 9.303 564 76.57
575 - 599 216 49,953,066 11.82 8.976 587 81.78
600 - 624 449 87,312,785 20.67 9.138 613 87.25
625 - 649 400 85,968,736 20.35 8.895 636 87.83
650 - 674 193 51,056,322 12.08 8.288 660 86.26
675 - 699 103 31,726,026 7.51 7.954 686 83.38
700 - 724 45 12,797,018 3.03 7.621 711 82.03
725 - 749 41 12,904,418 3.05 7.837 738 82.52
750 - 774 24 9,501,231 2.25 6.765 761 77.26
775 - 799 12 5,315,596 1.26 6.094 781 79.60
800 - 824 5 2,388,685 0.57 5.704 804 66.27
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
31
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Geographic Distribution*
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Mortgage Remaining Remaining W.A. Non-Zero Original
Location Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
California 547 160,944,012 38.09 8.481 637 82.17
Florida 327 63,790,629 15.10 9.046 619 84.58
New York 146 49,340,623 11.68 8.344 630 82.18
Arizona 167 25,786,281 6.10 8.806 628 83.32
New Jersey 68 20,195,158 4.78 8.672 613 82.10
Washington 74 16,319,739 3.86 8.950 631 87.39
Connecticut 43 11,269,464 2.67 8.700 619 83.30
Oregon 44 7,567,030 1.79 9.246 601 83.55
Nevada 39 5,291,469 1.25 9.801 628 90.80
Michigan 37 4,624,386 1.09 9.676 625 87.02
Massachusetts 14 4,113,303 0.97 8.468 620 85.07
Minnesota 19 3,964,005 0.94 9.146 628 88.57
Maryland 15 3,913,207 0.93 8.657 607 78.62
Missouri 26 3,586,301 0.85 9.123 633 83.90
Virginia 17 3,416,145 0.81 9.090 595 79.99
Pennsylvania 17 3,242,285 0.77 9.422 625 83.15
Utah 16 3,235,710 0.77 8.584 623 88.66
Georgia 22 3,218,596 0.76 9.650 614 86.96
Wisconsin 21 3,048,697 0.72 9.772 605 88.30
Louisiana 15 2,125,285 0.50 9.823 608 84.99
Alabama 9 2,123,275 0.50 9.878 588 90.55
North Carolina 9 1,968,302 0.47 9.211 619 89.62
Illinois 15 1,921,464 0.45 9.933 592 81.04
Indiana 17 1,729,810 0.41 10.499 603 82.55
Texas 16 1,708,223 0.40 10.007 615 86.24
New Hampshire 5 1,630,265 0.39 7.899 670 90.43
Colorado 15 1,620,735 0.38 9.537 634 92.07
Arkansas 9 1,388,229 0.33 9.145 607 85.57
Ohio 10 1,365,537 0.32 9.309 636 88.97
South Carolina 8 1,326,027 0.31 9.545 619 82.14
Idaho 6 1,070,052 0.25 8.822 619 81.74
Oklahoma 10 849,284 0.20 10.860 582 82.34
Tennessee 4 726,298 0.17 9.367 671 93.39
Kentucky 7 654,213 0.15 10.149 587 79.22
- ------------------------------------------------------------------------------------------------------------------------------------
*Geographic Distribution continued on the next page
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
32
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Geographic Distribution (Continued)
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Location Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Hawaii 1 599,936 0.14 8.450 600 80.00
New Mexico 3 530,893 0.13 9.087 604 88.26
Delaware 3 404,049 0.10 9.455 594 86.16
Wyoming 1 299,849 0.07 9.375 581 75.00
Iowa 2 291,539 0.07 9.690 588 90.00
South Dakota 2 286,896 0.07 10.926 653 87.04
Alaska 2 280,871 0.07 10.584 573 91.67
Maine 3 268,287 0.06 9.205 608 82.06
Kansas 2 230,671 0.05 9.939 592 84.14
Rhode Island 1 147,868 0.03 9.990 530 31.16
Mississippi 1 78,979 0.02 12.375 563 87.78
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Occupancy Status
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Occupancy Status Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Primary 1,664 388,040,105 91.85 8.737 625 83.60
Investment 154 30,708,694 7.27 8.962 654 81.20
Second Home 17 3,745,084 0.89 9.182 620 84.58
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Documentation Type
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Program Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Full Documentation 999 236,092,735 55.88 8.348 623 82.87
Stated Documentation 819 181,680,458 43.00 9.284 632 84.29
No Documentation 12 3,114,312 0.74 8.779 665 72.39
Limited Documentation 5 1,606,378 0.38 9.457 603 88.98
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
33
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Loan Purpose
- ------------------------------------------------------------------------------------------------------------------------------------
Purpose Number of Aggregate Remaining % of Aggregate W.A. W.A. W.A.
Mortgage Loans Principal Balance Remaining Coupon (%) Non-Zero Original
($) Principal Balance FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Refinance - Cashout 982 254,134,250 60.15 8.557 612 80.17
Purchase 770 145,088,673 34.34 9.235 647 89.68
Refinance - Rate Term 83 23,270,961 5.51 7.975 662 80.06
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Property Type
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Property Type Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Single Family Residence 1,380 309,211,630 73.19 8.756 624 83.06
PUD 228 52,781,942 12.49 8.796 638 86.37
2-4 Family 122 39,046,668 9.24 8.551 635 81.46
Condo 102 21,031,810 4.98 9.046 636 85.31
Modular 1 184,022 0.04 8.875 597 75.00
Townhouse 1 174,811 0.04 11.000 490 69.17
Rowhouse 1 63,000 0.01 11.250 584 75.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
34
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Next Rate Adjustment Date*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Month & Year of Next Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Rate Adjustment Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
October 2007 1 329,910 0.10 7.800 656 75.00
May 2008 2 285,913 0.08 9.786 549 86.46
December 2008 3 624,323 0.18 8.441 598 93.23
January 2009 10 2,684,498 0.78 8.902 654 79.31
February 2009 26 7,494,416 2.18 8.252 613 87.35
March 2009 164 45,009,243 13.08 8.457 623 82.91
April 2009 379 97,156,924 28.24 8.834 615 83.23
May 2009 324 81,442,869 23.67 9.112 616 83.84
June 2009 82 20,153,124 5.86 9.064 614 83.03
October 2009 1 336,121 0.10 9.750 661 95.00
December 2009 1 210,815 0.06 9.150 573 90.00
January 2010 2 366,747 0.11 8.913 644 81.13
February 2010 11 3,564,881 1.04 8.369 614 82.52
March 2010 61 21,543,636 6.26 7.749 639 85.27
April 2010 79 27,776,072 8.07 8.022 628 81.72
May 2010 59 15,945,819 4.63 8.822 613 81.51
June 2010 9 2,659,750 0.77 8.732 641 87.82
February 2012 1 440,000 0.13 6.990 684 80.00
March 2012 4 1,761,193 0.51 8.260 649 75.09
April 2012 12 4,908,021 1.43 7.805 664 83.69
May 2012 14 4,122,818 1.20 8.745 610 81.35
June 2012 18 5,277,600 1.53 8.810 622 84.86
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,263 344,094,692 100.00 8.691 620 83.32
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
35
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Gross Margin*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Gross Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Margin (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
3.500 - 3.999 1 166,155 0.05 8.775 603 95.00
4.000 - 4.499 2 271,737 0.08 8.854 611 89.97
4.500 - 4.999 13 2,561,942 0.74 10.289 551 54.11
5.000 - 5.499 136 35,818,924 10.41 8.402 628 74.28
5.500 - 5.999 478 142,916,382 41.53 8.429 623 84.47
6.000 - 6.499 350 90,774,699 26.38 8.802 608 83.36
6.500 - 6.999 196 52,894,662 15.37 9.083 627 88.23
7.000 - 7.499 62 13,399,467 3.89 9.316 625 81.35
7.500 - 7.999 20 4,238,924 1.23 9.662 637 82.56
8.000 - 8.499 5 1,051,802 0.31 9.024 628 81.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,263 344,094,692 100.00 8.691 620 83.32
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Maximum Mortgage Rate*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Maximum Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
11.500 - 11.999 3 1,395,481 0.41 5.926 657 80.00
12.000 - 12.499 10 4,004,278 1.16 6.297 661 80.44
12.500 - 12.999 61 21,666,250 6.30 6.798 659 80.43
13.000 - 13.499 80 25,499,561 7.41 7.256 643 78.80
13.500 - 13.999 163 53,068,312 15.42 7.752 638 83.29
14.000 - 14.499 144 42,239,649 12.28 8.249 626 82.19
14.500 - 14.999 217 65,673,674 19.09 8.726 624 86.65
15.000 - 15.499 154 38,677,727 11.24 9.204 612 84.46
15.500 - 15.999 195 46,143,516 13.41 9.722 595 84.10
16.000 - 16.499 97 21,168,027 6.15 10.244 600 83.96
16.500 - 16.999 70 13,863,402 4.03 10.615 580 83.89
17.000 - 17.499 32 5,256,216 1.53 11.140 545 73.19
17.500 - 17.999 24 3,207,240 0.93 11.593 560 77.00
18.000 - 18.499 11 1,814,506 0.53 12.123 563 80.04
19.500 - 19.999 1 284,853 0.08 12.500 637 95.00
20.500 - 20.999 1 132,000 0.04 14.500 546 80.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,263 344,094,692 100.00 8.691 620 83.32
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
36
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Minimum Mortgage Rate*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Minimum Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
5.500 - 5.999 4 1,652,994 0.48 6.541 649 82.34
6.000 - 6.499 9 3,684,925 1.07 6.742 665 80.15
6.500 - 6.999 63 22,240,572 6.46 6.802 655 80.42
7.000 - 7.499 81 25,853,240 7.51 7.258 645 79.02
7.500 - 7.999 164 53,754,102 15.62 7.752 637 83.29
8.000 - 8.499 144 41,930,730 12.19 8.248 626 82.06
8.500 - 8.999 219 65,777,775 19.12 8.735 625 86.86
9.000 - 9.499 154 38,843,724 11.29 9.202 610 84.25
9.500 - 9.999 196 46,345,779 13.47 9.733 595 84.03
10.000 - 10.499 97 20,929,692 6.08 10.240 601 84.15
10.500 - 10.999 65 12,672,327 3.68 10.711 578 83.39
11.000 - 11.499 32 5,199,109 1.51 11.166 549 74.14
11.500 - 11.999 23 3,071,258 0.89 11.636 552 76.65
12.000 - 12.499 9 1,546,801 0.45 12.317 552 78.29
12.500 - 12.999 2 459,664 0.13 11.930 581 85.18
14.500 - 14.999 1 132,000 0.04 14.500 546 80.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,263 344,094,692 100.00 8.691 620 83.32
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Initial Periodic Rate Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Initial Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
1.000 1 329,910 0.10 7.800 656 75.00
1.500 1 216,599 0.06 8.550 600 95.00
2.000 3 700,386 0.20 8.523 616 90.00
3.000 1,258 342,847,797 99.64 8.692 620 83.31
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,263 344,094,692 100.00 8.691 620 83.32
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
37
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE TOTAL COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Subsequent Periodic Rate Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Subsequent Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
1.000 1,258 342,632,520 99.58 8.692 620 83.30
1.500 4 1,335,173 0.39 8.473 603 88.59
2.000 1 127,000 0.04 8.390 609 83.27
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,263 344,094,692 100.00 8.691 620 83.32
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Lifetime Periodic Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Lifetime Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
6.000 - 6.499 1,247 340,094,348 98.84 8.682 620 83.26
6.500 - 6.999 1 420,000 0.12 8.750 679 80.00
7.000 - 7.499 15 3,580,345 1.04 9.529 628 89.67
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,263 344,094,692 100.00 8.691 620 83.32
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Original Prepayment Charge Term
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Prepayment Penalty Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Term (mos.) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
N/A 433 114,859,445 27.19 8.861 625 83.49
12 78 19,577,430 4.63 9.474 623 83.98
24 997 200,738,642 47.51 9.052 615 84.94
36 322 86,168,254 20.40 7.781 658 79.60
48 5 1,150,113 0.27 8.082 650 92.29
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,835 422,493,883 100.00 8.758 627 83.43
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
38
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
SUMMARY - GROUP 1 POOL*
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Mortgage Loans: 1,081 Index Type:
Aggregate Principal Balance: $215,341,902 6 Month LIBOR: 85.72%
Conforming Principal Balance Loans: $215,341,902 Fixed Rate: 14.28%
Average Principal Balance: $199,206 W.A. Initial Periodic Cap**: 2.992%
Range: $15,779 - $654,780 W.A. Subsequent Periodic Cap**: 1.002%
W.A. Coupon: 8.846% W.A. Lifetime Rate Cap**: 6.005%
Range: 5.250% - 14.500% Property Type:
W.A. Gross Margin**: 6.037% Single Family: 75.27%
Range: 3.875% - 8.125% 2-4 Family: 10.60%
W.A. Remaining Term (months): 353 PUD: 9.88%
Range (months): 170 - 360 Condo: 4.05%
W.A. Seasoning (months): 2 Townhouse: 0.08%
Latest Maturity Date: June 1, 2037 Modular: 0.09%
State Concentration (Top 5): Rowhouse: 0.03%
California: 28.22% Occupancy Status:
Florida: 16.16% Primary: 87.56%
New York: 8.93% Investment: 11.17%
Arizona 7.74% Second Home: 1.27%
New Jersey: 7.05% Documentation Status:
W.A. Original Combined LTV: 80.97% Full: 57.83%
Range: 16.67% - 100.00% Stated: 41.28%
First Liens: 97.42% Limited: 0.11%
Second Liens: 2.58% None: 0.78%
Non-Balloon Loans: 65.26% Non-Zero W.A. Prepayment Penalty - Term (months): 27
Non-Zero W.A. FICO Score: 611 Loans with Prepay Penalties: 73.13%
Interest Only Loans: 17.38%
Non-Zero W.A. Interest Only Term (months): 60
- ------------------------------------------------------------------------------------------------------------------------------------
* Subject to a permitted variance of +/- 5%
** ARM loans only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
39
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Originator
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Mortgage Remaining Remaining W.A. Non-Zero Original
Originator Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
db home lending llc 551 106,257,326 49.34 8.807 613 81.55
DBASAP 327 58,808,065 27.31 9.250 613 82.42
MortgageIT, Inc. 203 50,276,511 23.35 8.453 606 78.04
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Collateral Type
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A. W.A.
Mortgage Remaining Remaining Coupon Non-Zero Original
Collateral Type Loans Principal Balance ($) Principal Balance (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Fixed - 15 Year 2 194,636 0.09 8.644 596 58.29
Fixed - 15 Year IO 1 164,960 0.08 7.600 684 30.00
Fixed - 30 Year 92 15,562,784 7.23 8.137 647 75.55
Balloon - 15/30 114 5,531,159 2.57 12.138 626 99.64
Balloon - 30/40 42 9,291,547 4.31 8.398 606 80.03
ARM - 6 Month 30/50 1 329,910 0.15 7.800 656 75.00
ARM - 1 Year/6 Month 1 83,212 0.04 9.875 607 90.00
ARM - 2 Year/6 Month 274 48,735,291 22.63 9.404 600 79.15
ARM - 2 Year/6 Month IO 105 27,290,311 12.67 8.468 636 84.38
ARM - 2 Year/6 Month 30/40 Balloon 105 23,078,589 10.72 9.048 595 81.20
ARM - 2 Year/6 Month 30/50 Balloon 61 14,319,786 6.65 8.842 602 84.16
ARM - 2 Year/6 Month 30/40 - 10 Year* 107 23,327,537 10.83 8.872 592 79.21
ARM - 3 Year/6 Month 35 8,350,607 3.88 8.515 618 78.83
ARM - 3 Year/6 Month IO 24 6,968,082 3.24 7.741 640 78.31
ARM - 3 Year/6 Month 30/40 Balloon 60 17,074,067 7.93 8.289 599 80.47
ARM - 3 Year/6 Month 30/50 Balloon 9 1,797,070 0.83 8.991 579 81.44
ARM - 3 Year/6 Month 30/40 - 10 Year* 16 3,855,891 1.79 8.280 617 84.32
ARM - 5 Year/6 Month 6 1,714,941 0.80 8.788 635 85.91
ARM - 5 Year/6 Month IO 11 3,006,696 1.40 8.257 669 83.62
ARM - 5 Year/6 Month 30/50 Balloon 10 3,377,644 1.57 8.692 614 81.95
ARM - 5 Year/6 Month 30/40 - 10 Year* 5 1,287,181 0.60 8.519 621 81.18
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
* Mortgage Loans which amortize on a 480 month remaining term to maturity for the first 120 months and thereafter on a 240 month
remaining term to maturity
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
40
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
IO Terms
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
IO Terms (mos.) Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
N/A 940 177,911,852 82.62 8.958 606 80.55
24 1 316,960 0.15 8.260 609 60.00
36 1 323,200 0.15 6.200 661 80.00
60 138 36,708,201 17.05 8.325 640 83.19
120 1 81,688 0.04 10.875 528 75.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Balance at Origination
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Principal Balance at Mortgage Remaining Remaining W.A. Non-Zero Original
Origination ($) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
0.01 - 50,000.00 82 3,206,196 1.49 12.043 614 96.01
50,000.01 - 100,000.00 140 10,425,241 4.84 10.396 608 84.64
100,000.01 - 150,000.00 189 24,250,166 11.26 9.302 603 78.79
150,000.01 - 200,000.00 189 33,297,410 15.46 9.009 604 79.43
200,000.01 - 250,000.00 141 31,295,699 14.53 8.811 614 80.83
250,000.01 - 300,000.00 126 34,871,036 16.19 8.644 609 79.75
300,000.01 - 350,000.00 103 33,521,653 15.57 8.362 621 83.11
350,000.01 - 400,000.00 70 26,190,401 12.16 8.581 609 81.57
400,000.01 - 450,000.00 30 12,562,228 5.83 8.322 634 80.09
450,000.01 - 500,000.00 6 2,831,359 1.31 7.964 601 76.95
500,000.01 - 550,000.00 2 1,036,233 0.48 7.723 626 87.48
550,000.01 - 600,000.00 2 1,199,500 0.56 8.525 587 74.68
650,000.01 - 700,000.00 1 654,780 0.30 7.250 684 79.88
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
41
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Remaining Principal Balance
- ------------------------------------------------------------------------------------------------------------------------------------
Aggregate % of Aggregate W.A. W.A.
Remaining Principal Number of Remaining Remaining W.A. Non-Zero Original
Balance ($) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
0.01 - 50,000.00 83 3,256,099 1.51 12.005 613 94.79
50,000.01 - 100,000.00 139 10,375,338 4.82 10.399 608 84.97
100,000.01 - 150,000.00 189 24,250,166 11.26 9.302 603 78.79
150,000.01 - 200,000.00 189 33,297,410 15.46 9.009 604 79.43
200,000.01 - 250,000.00 142 31,545,362 14.65 8.804 613 80.66
250,000.01 - 300,000.00 125 34,621,372 16.08 8.648 609 79.91
300,000.01 - 350,000.00 103 33,521,653 15.57 8.362 621 83.11
350,000.01 - 400,000.00 70 26,190,401 12.16 8.581 609 81.57
400,000.01 - 450,000.00 30 12,562,228 5.83 8.322 634 80.09
450,000.01 - 500,000.00 6 2,831,359 1.31 7.964 601 76.95
500,000.01 - 550,000.00 2 1,036,233 0.48 7.723 626 87.48
550,000.01 - 600,000.00 2 1,199,500 0.56 8.525 587 74.68
650,000.01 - 700,000.00 1 654,780 0.30 7.250 684 79.88
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Remaining Term
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Months Remaining Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
121 - 180 117 5,890,755 2.74 11.896 627 96.32
301 - 360 964 209,451,147 97.26 8.760 611 80.54
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
42
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Mortgage Rate
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
5.000 - 5.499 2 525,465 0.24 5.321 762 76.76
5.500 - 5.999 8 2,431,614 1.13 5.729 737 71.07
6.000 - 6.499 10 2,885,536 1.34 6.297 654 76.08
6.500 - 6.999 42 11,147,588 5.18 6.794 645 76.50
7.000 - 7.499 64 16,700,023 7.76 7.256 632 76.51
7.500 - 7.999 117 29,214,060 13.57 7.755 630 80.09
8.000 - 8.499 108 24,224,774 11.25 8.235 616 80.45
8.500 - 8.999 145 35,156,135 16.33 8.731 618 83.29
9.000 - 9.499 118 23,831,699 11.07 9.222 606 82.66
9.500 - 9.999 154 29,823,797 13.85 9.745 586 82.31
10.000 - 10.499 87 16,374,204 7.60 10.248 592 81.87
10.500 - 10.999 52 8,548,716 3.97 10.712 576 79.62
11.000 - 11.499 39 5,513,990 2.56 11.146 555 75.35
11.500 - 11.999 40 3,521,000 1.64 11.686 566 81.23
12.000 - 12.499 38 2,703,230 1.26 12.236 577 87.52
12.500 - 12.999 55 2,569,935 1.19 12.509 622 100.00
13.000 - 13.499 1 38,136 0.02 13.000 632 100.00
14.500 - 14.999 1 132,000 0.06 14.500 546 80.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
43
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Original Combined Loan-to-Value Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
Original Combined Number of Aggregate % of Aggregate W.A. W.A.
Loan-to-Value Mortgage Remaining Remaining W.A. Non-Zero Original
Ratio (%) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Less than or equal to 50.00 39 6,439,543 2.99 8.589 588 39.96
50.01 - 55.00 11 1,968,860 0.91 7.564 619 52.65
55.01 - 60.00 29 7,150,408 3.32 8.997 578 58.50
60.01 - 65.00 46 9,361,126 4.35 8.283 612 63.30
65.01 - 70.00 84 18,788,748 8.73 8.915 583 68.81
70.01 - 75.00 72 15,413,375 7.16 9.011 581 74.29
75.01 - 80.00 192 42,544,877 19.76 8.518 605 79.72
80.01 - 85.00 142 30,719,273 14.27 8.836 608 84.44
85.01 - 90.00 242 53,525,819 24.86 8.843 630 89.79
90.01 - 95.00 99 20,604,480 9.57 8.848 640 94.77
95.01 - 100.00 125 8,825,392 4.10 10.976 633 99.88
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FICO Score at Origination
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
FICO Score Number of Aggregate Remaining Remaining W.A. Non-Zero Original
At Origination Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
1 - 499 4 670,226 0.31 11.255 484 56.68
500 - 524 67 14,186,837 6.59 10.079 515 75.00
525 - 549 88 17,252,472 8.01 9.623 538 72.99
550 - 574 114 22,259,437 10.34 9.300 564 75.50
575 - 599 147 29,047,666 13.49 8.988 587 78.86
600 - 624 247 46,366,839 21.53 8.804 612 83.97
625 - 649 198 38,333,395 17.80 8.625 636 85.53
650 - 674 112 22,760,340 10.57 8.318 661 83.65
675 - 699 52 11,891,033 5.52 8.030 684 82.16
700 - 724 24 5,973,923 2.77 8.028 712 85.33
725 - 749 17 3,949,759 1.83 7.819 739 80.57
750 - 774 7 1,811,449 0.84 6.327 762 81.64
775 - 799 3 772,083 0.36 7.207 778 87.46
800 - 824 1 66,441 0.03 10.000 817 95.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
44
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Geographic Distribution*
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Mortgage Remaining Remaining W.A. Non-Zero Original
Location Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
California 223 60,775,246 28.22 8.520 617 78.25
Florida 199 34,801,675 16.16 9.055 605 82.46
New York 69 19,235,431 8.93 8.531 597 74.52
Arizona 115 16,657,319 7.74 8.706 621 82.75
New Jersey 56 15,187,197 7.05 8.571 608 79.80
Washington 47 9,488,819 4.41 8.915 625 86.07
Connecticut 33 7,539,863 3.50 8.755 600 80.67
Oregon 40 7,026,264 3.26 9.204 596 82.98
Minnesota 18 3,614,105 1.68 9.185 617 87.46
Wisconsin 19 2,812,627 1.31 9.676 604 88.36
Michigan 25 2,765,402 1.28 9.478 628 86.58
Nevada 19 2,737,296 1.27 9.327 623 89.66
Georgia 17 2,488,334 1.16 9.680 613 87.29
Missouri 18 2,357,155 1.09 9.458 637 88.38
Virginia 14 2,239,252 1.04 8.970 598 79.55
Utah 12 2,143,991 1.00 8.201 634 86.89
Maryland 9 1,951,339 0.91 8.640 615 73.68
North Carolina 8 1,937,160 0.90 9.162 620 89.45
Illinois 14 1,888,508 0.88 9.907 591 80.71
Massachusetts 8 1,642,215 0.76 8.684 607 73.39
Pennsylvania 9 1,597,123 0.74 8.994 611 81.70
Louisiana 9 1,400,895 0.65 9.740 615 83.81
Arkansas 9 1,388,229 0.64 9.145 607 85.57
Indiana 13 1,362,943 0.63 10.750 596 81.62
Alabama 7 1,129,751 0.52 9.940 590 89.61
Texas 10 972,348 0.45 10.014 615 83.52
Colorado 10 936,094 0.43 9.409 611 90.97
Ohio 7 929,509 0.43 9.508 622 87.02
South Carolina 4 899,315 0.42 9.104 613 80.54
Tennessee 4 726,298 0.34 9.367 671 93.39
New Hampshire 3 630,394 0.29 6.492 698 82.23
Hawaii 1 599,936 0.28 8.450 600 80.00
Idaho 5 558,052 0.26 9.806 583 83.56
Oklahoma 8 505,626 0.23 11.118 574 79.52
- ------------------------------------------------------------------------------------------------------------------------------------
*Geographic Distribution continued on the next page
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
45
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Geographic Distribution (Continued)
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Location Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Kentucky 4 386,143 0.18 10.581 581 82.30
Wyoming 1 299,849 0.14 9.375 581 75.00
Iowa 2 291,539 0.14 9.690 588 90.00
South Dakota 2 286,896 0.13 10.926 653 87.04
Alaska 2 280,871 0.13 10.584 573 91.67
Kansas 2 230,671 0.11 9.939 592 84.14
Delaware 2 228,299 0.11 9.420 553 79.35
New Mexico 2 198,097 0.09 10.156 577 85.35
Rhode Island 1 147,868 0.07 9.990 530 31.16
Maine 1 65,958 0.03 8.300 574 80.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Occupancy Status
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Occupancy Status Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Primary 942 188,553,340 87.56 8.818 606 80.77
Investment 125 24,062,750 11.17 9.015 655 82.15
Second Home 14 2,725,812 1.27 9.220 621 83.88
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Documentation Type
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Program Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Full Documentation 640 124,537,061 57.83 8.504 610 81.52
Stated Documentation 431 88,886,516 41.28 9.316 612 80.40
No Documentation 8 1,689,181 0.78 9.056 655 72.03
Limited Documentation 2 229,144 0.11 10.172 578 66.85
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
46
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Loan Purpose
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Purpose Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Refinance - Cashout 738 164,071,837 76.19 8.735 604 79.04
Purchase 284 37,777,431 17.54 9.421 637 88.53
Refinance - Rate Term 59 13,492,634 6.27 8.584 634 83.27
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Property Type
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Property Type Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Single Family 831 162,092,008 75.27 8.879 609 81.00
2-4 Family 76 22,818,137 10.60 8.382 622 76.69
PUD 115 21,285,764 9.88 8.929 611 84.02
Condo 56 8,724,160 4.05 9.168 624 84.60
Modular 1 184,022 0.09 8.875 597 75.00
Townhouse 1 174,811 0.08 11.000 490 69.17
Rowhouse 1 63,000 0.03 11.250 584 75.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
47
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Next Rate Adjustment Date*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Month & Year of Next Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Rate Adjustment Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
October 2007 1 329,910 0.18 7.800 656 75.00
May 2008 1 83,212 0.05 9.875 607 90.00
December 2008 3 624,323 0.34 8.441 598 93.23
January 2009 3 789,303 0.43 8.989 648 76.41
February 2009 13 2,457,286 1.33 8.477 618 86.25
March 2009 107 24,511,454 13.28 8.759 598 80.00
April 2009 259 54,091,108 29.30 8.893 601 79.95
May 2009 210 41,913,811 22.71 9.313 609 82.25
June 2009 57 12,364,229 6.70 9.102 623 82.81
October 2009 1 336,121 0.18 9.750 661 95.00
December 2009 1 210,815 0.11 9.150 573 90.00
January 2010 1 127,000 0.07 8.390 609 83.27
February 2010 8 2,403,931 1.30 8.341 613 79.59
March 2010 35 9,724,968 5.27 7.704 608 81.71
April 2010 50 14,195,690 7.69 8.069 614 79.45
May 2010 43 9,890,143 5.36 8.963 608 79.03
June 2010 5 1,157,050 0.63 8.845 632 79.96
March 2012 3 661,193 0.36 8.486 659 83.82
April 2012 6 1,948,226 1.06 7.528 678 80.98
May 2012 10 3,317,992 1.80 8.542 615 83.66
June 2012 13 3,459,050 1.87 9.136 629 83.62
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 830 184,596,816 100.00 8.830 608 80.98
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
48
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Gross Margin*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Gross Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Margin (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
3.500 - 3.999 1 166,155 0.09 8.775 603 95.00
4.000 - 4.499 1 173,194 0.09 9.625 603 90.00
4.500 - 4.999 13 2,561,942 1.39 10.289 551 54.11
5.000 - 5.499 84 17,206,384 9.32 8.748 617 72.75
5.500 - 5.999 304 73,128,874 39.62 8.506 607 81.57
6.000 - 6.499 233 50,752,627 27.49 8.963 601 82.29
6.500 - 6.999 126 26,870,115 14.56 9.118 616 84.99
7.000 - 7.499 49 9,838,993 5.33 9.186 630 79.38
7.500 - 7.999 14 2,846,731 1.54 9.910 624 82.92
8.000 - 8.499 5 1,051,802 0.57 9.024 628 81.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 830 184,596,816 100.00 8.830 608 80.98
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Maximum Mortgage Rate*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Maximum Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
12.000 - 12.499 6 1,810,212 0.98 6.301 634 78.47
12.500 - 12.999 35 9,692,830 5.25 6.803 645 76.80
13.000 - 13.499 52 14,025,565 7.60 7.253 632 77.99
13.500 - 13.999 98 25,061,954 13.58 7.747 629 80.51
14.000 - 14.499 94 21,217,658 11.49 8.238 615 80.34
14.500 - 14.999 131 32,431,121 17.57 8.728 619 83.67
15.000 - 15.499 110 22,842,016 12.37 9.214 607 83.11
15.500 - 15.999 136 27,812,393 15.07 9.737 584 82.39
16.000 - 16.499 69 13,842,570 7.50 10.264 590 81.77
16.500 - 16.999 45 7,648,113 4.14 10.691 569 79.78
17.000 - 17.499 26 4,562,648 2.47 11.122 540 70.97
17.500 - 17.999 19 2,441,939 1.32 11.613 555 74.53
18.000 - 18.499 8 1,075,799 0.58 11.964 561 78.37
20.500 - 20.999 1 132,000 0.07 14.500 546 80.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 830 184,596,816 100.00 8.830 608 80.98
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
49
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Minimum Mortgage Rate*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Minimum Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
5.500 - 5.999 1 257,513 0.14 9.875 607 95.00
6.000 - 6.499 5 1,490,858 0.81 7.401 638 77.33
6.500 - 6.999 38 10,586,620 5.73 6.815 639 77.08
7.000 - 7.499 52 14,059,775 7.62 7.264 634 78.36
7.500 - 7.999 98 25,027,744 13.56 7.741 629 80.31
8.000 - 8.499 94 20,908,738 11.33 8.235 614 80.06
8.500 - 8.999 132 32,484,074 17.60 8.726 621 84.16
9.000 - 9.499 111 23,428,013 12.69 9.203 606 82.70
9.500 - 9.999 133 27,142,446 14.70 9.747 583 82.14
10.000 - 10.499 69 13,604,236 7.37 10.259 592 82.03
10.500 - 10.999 45 7,680,395 4.16 10.704 572 79.80
11.000 - 11.499 26 4,505,542 2.44 11.153 544 72.05
11.500 - 11.999 18 2,305,957 1.25 11.671 545 73.91
12.000 - 12.499 6 808,094 0.44 12.283 539 74.48
12.500 - 12.999 1 174,811 0.09 11.000 490 69.17
14.500 - 14.999 1 132,000 0.07 14.500 546 80.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 830 184,596,816 100.00 8.830 608 80.98
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Initial Periodic Rate Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Initial Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
1.000 1 329,910 0.18 7.800 656 75.00
1.500 1 216,599 0.12 8.550 600 95.00
2.000 2 457,612 0.25 8.402 636 90.00
3.000 826 183,592,695 99.46 8.834 608 80.95
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 830 184,596,816 100.00 8.830 608 80.98
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
50
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 1 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Subsequent Periodic Rate Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Subsequent Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
1.000 827 184,057,344 99.71 8.831 608 80.96
1.500 2 412,472 0.22 8.759 573 87.88
2.000 1 127,000 0.07 8.390 609 83.27
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 830 184,596,816 100.00 8.830 608 80.98
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Lifetime Periodic Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Lifetime Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
6.000 - 6.499 823 183,595,831 99.46 8.825 608 80.95
7.000 - 7.499 7 1,000,986 0.54 9.814 627 86.82
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 830 184,596,816 100.00 8.830 608 80.98
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Original Prepayment Charge Term
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Prepayment Penalty Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Term (mos.) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
N/A 265 57,862,216 26.87 8.990 607 79.32
12 37 8,224,236 3.82 9.473 605 78.10
24 576 107,825,769 50.07 8.960 606 82.17
36 203 41,429,680 19.24 8.220 633 80.72
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 1,081 215,341,902 100.00 8.846 611 80.97
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
51
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
SUMMARY - GROUP 2 POOL*
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Mortgage Loans: 754 Index Type:
Aggregate Principal Balance: $207,151,981 6 Month LIBOR: 77.00%
Conforming Principal Balance Loans: $82,574,319 Fixed Rate: 23.00%
Average Principal Balance: $274,737 W.A. Initial Periodic Cap**: 2.998%
Range: $20,090 - $1,200,000 W.A. Subsequent Periodic Cap**: 1.003%
W.A. Coupon: 8.666% W.A. Lifetime Rate Cap**: 6.017%
Range: 5.375% - 16.875% Property Type:
W.A. Gross Margin**: 5.972% Single Family: 71.02%
Range: 4.000% - 7.800% PUD: 15.20%
W.A. Remaining Term (months): 339 2-4 Family: 7.83%
Range (months): 158 - 360 Condo: 5.94%
W.A. Seasoning (months): 2 Townhouse: 0.00%
Latest Maturity Date: June 1, 2037 Modular: 0.00%
State Concentration (Top 5): Rowhouse: 0.00%
California: 48.36% Occupancy Status:
New York: 14.53% Primary: 96.30%
Florida: 13.99% Investment: 3.21%
Arizona: 4.41% Second Home: 0.49%
Washington: 3.30% Documentation Status:
W.A. Original Combined LTV: 85.99% Full: 53.85%
Range: 33.21% - 100.00% Stated: 44.80%
First Liens: 89.72% Limited: 0.66%
Second Liens: 10.28% None: 0.69%
Non-Balloon Loans: 63.31% Non-Zero W.A. Prepayment Penalty - Term (months): 27
Non-Zero W.A. FICO Score: 643 Loans with Prepay Penalties: 72.49%
Interest Only Loans: 29.71%
Non-Zero W.A. Interest Only Term (months): 60
- ------------------------------------------------------------------------------------------------------------------------------------
* Subject to a permitted variance of +/- 5%
** ARM loans only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
52
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Originator
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Mortgage Remaining Remaining W.A. Non-Zero Original
Originator Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
db home lending llc 418 99,850,310 48.20 9.065 633 88.41
DBASAP 213 61,470,470 29.67 8.288 656 80.66
MortgageIT, Inc. 120 45,577,269 22.00 8.295 650 87.88
Other 3 253,932 0.12 10.115 543 88.03
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Collateral Type
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Mortgage Remaining Remaining W.A. Non-Zero Original
Collateral Type Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Fixed - 15 Year 3 610,267 0.29 8.285 659 65.26
Fixed - 30 Year 55 20,990,027 10.13 6.467 725 72.79
Balloon - 15/30 246 20,609,107 9.95 12.052 631 99.10
Balloon - 20/30 3 137,909 0.07 13.711 629 100.00
Balloon - 30/40 14 5,306,796 2.56 8.237 665 88.13
ARM - 2 Year/6 Month 99 25,799,459 12.45 9.081 623 86.06
ARM - 2 Year/6 Month IO 97 40,850,568 19.72 8.380 644 85.90
ARM - 2 Year/6 Month 30/40 Balloon 73 26,406,275 12.75 8.702 626 84.12
ARM - 2 Year/6 Month 30/50 Balloon 32 11,678,355 5.64 8.750 619 89.85
ARM - 2 Year/6 Month 30/40 - 10 Year* 36 13,281,925 6.41 8.759 616 88.42
ARM - 3 Year/6 Month 16 5,622,866 2.71 8.213 664 84.99
ARM - 3 Year/6 Month IO 36 16,747,227 8.08 7.907 648 87.61
ARM - 3 Year/6 Month 30/40 Balloon 23 10,369,091 5.01 8.461 635 85.72
ARM - 3 Year/6 Month 30/50 Balloon 1 136,480 0.07 9.375 591 47.89
ARM - 3 Year/6 Month 30/40 - 10 Year* 3 1,482,459 0.72 6.534 629 84.39
ARM - 5 Year/6 Month 4 1,167,559 0.56 7.113 662 78.11
ARM - 5 Year/6 Month IO 9 3,937,250 1.90 8.344 650 80.98
ARM - 5 Year/6 Month 30/50 Balloon 3 1,353,361 0.65 9.209 572 85.81
ARM - 5 Year/6 Month 30/40 - 10 Year* 1 665,000 0.32 6.975 629 83.13
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
* Mortgage Loans which amortize on a 480 month remaining term to maturity for the first 120 months and thereafter on a 240 month
remaining term to maturity
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
53
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
IO Terms
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
IO Terms (mos.) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
N/A 612 145,616,936 70.29 8.843 642 85.97
60 142 61,535,046 29.71 8.249 646 86.05
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Balance at Origination
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Principal Balance at Mortgage Remaining Remaining W.A. Non-Zero Original
Origination ($) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
0.01 - 50,000.00 50 2,028,460 0.98 12.425 622 99.21
50,000.01 - 100,000.00 165 12,230,609 5.90 11.524 621 94.26
100,000.01 - 150,000.00 117 14,538,481 7.02 10.950 617 90.85
150,000.01 - 200,000.00 40 6,978,315 3.37 9.480 631 88.09
200,000.01 - 250,000.00 45 10,200,257 4.92 8.877 625 86.73
250,000.01 - 300,000.00 30 8,129,915 3.92 9.054 631 87.55
300,000.01 - 350,000.00 28 9,121,652 4.40 8.047 670 87.88
350,000.01 - 400,000.00 28 10,411,339 5.03 8.730 639 86.77
400,000.01 - 450,000.00 57 24,498,393 11.83 8.388 643 84.16
450,000.01 - 500,000.00 71 33,925,682 16.38 8.222 643 81.51
500,000.01 - 550,000.00 41 21,499,744 10.38 8.020 650 86.65
550,000.01 - 600,000.00 36 20,536,098 9.91 8.044 646 88.30
600,000.01 - 650,000.00 15 9,518,735 4.60 7.627 665 80.37
650,000.01 - 700,000.00 11 7,397,704 3.57 7.694 678 83.85
700,000.01 - 750,000.00 11 7,955,286 3.84 7.564 644 83.09
750,000.01 - 800,000.00 4 3,102,201 1.50 8.242 655 92.36
800,000.01 - 850,000.00 1 810,000 0.39 7.600 632 90.00
900,000.01 - 950,000.00 1 939,500 0.45 6.500 752 80.00
1,000,000.01 or greater 3 3,329,611 1.61 7.722 669 71.51
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
54
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Remaining Principal Balance
- ------------------------------------------------------------------------------------------------------------------------------------
Aggregate % of Aggregate W.A. W.A.
Remaining Principal Number of Remaining Remaining W.A. Non-Zero Original
Balance ($) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
0.01 - 50,000.00 50 2,028,460 0.98 12.425 622 99.21
50,000.01 - 100,000.00 165 12,230,609 5.90 11.524 621 94.26
100,000.01 - 150,000.00 117 14,538,481 7.02 10.950 617 90.85
150,000.01 - 200,000.00 40 6,978,315 3.37 9.480 631 88.09
200,000.01 - 250,000.00 45 10,200,257 4.92 8.877 625 86.73
250,000.01 - 300,000.00 30 8,129,915 3.92 9.054 631 87.55
300,000.01 - 350,000.00 28 9,121,652 4.40 8.047 670 87.88
350,000.01 - 400,000.00 28 10,411,339 5.03 8.730 639 86.77
400,000.01 - 450,000.00 57 24,498,393 11.83 8.388 643 84.16
450,000.01 - 500,000.00 71 33,925,682 16.38 8.222 643 81.51
500,000.01 - 550,000.00 41 21,499,744 10.38 8.020 650 86.65
550,000.01 - 600,000.00 36 20,536,098 9.91 8.044 646 88.30
600,000.01 - 650,000.00 15 9,518,735 4.60 7.627 665 80.37
650,000.01 - 700,000.00 11 7,397,704 3.57 7.694 678 83.85
700,000.01 - 750,000.00 11 7,955,286 3.84 7.564 644 83.09
750,000.01 - 800,000.00 4 3,102,201 1.50 8.242 655 92.36
800,000.01 - 850,000.00 1 810,000 0.39 7.600 632 90.00
900,000.01 - 950,000.00 1 939,500 0.45 6.500 752 80.00
1,000,000.01 or greater 3 3,329,611 1.61 7.722 669 71.51
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Remaining Term
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Months Remaining Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
121 - 180 249 21,219,374 10.24 11.943 632 98.12
181 - 240 3 137,909 0.07 13.711 629 100.00
301 - 360 502 185,794,699 89.69 8.288 645 84.60
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
55
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Mortgage Rate
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
5.000 - 5.499 1 416,063 0.20 5.375 787 100.00
5.500 - 5.999 26 14,249,917 6.88 5.688 751 70.10
6.000 - 6.499 10 4,434,072 2.14 6.179 701 72.77
6.500 - 6.999 31 14,678,052 7.09 6.795 671 83.41
7.000 - 7.499 32 12,691,589 6.13 7.261 658 79.74
7.500 - 7.999 67 29,310,546 14.15 7.764 645 85.97
8.000 - 8.499 54 21,941,907 10.59 8.264 635 83.91
8.500 - 8.999 95 35,828,650 17.30 8.745 632 88.92
9.000 - 9.499 50 17,400,120 8.40 9.199 622 87.04
9.500 - 9.999 68 19,811,865 9.56 9.715 612 86.83
10.000 - 10.499 32 7,750,760 3.74 10.211 620 88.13
10.500 - 10.999 41 7,017,540 3.39 10.776 613 89.50
11.000 - 11.499 15 1,482,225 0.72 11.255 628 94.27
11.500 - 11.999 61 5,965,387 2.88 11.760 617 97.06
12.000 - 12.499 72 7,231,186 3.49 12.299 616 98.14
12.500 - 12.999 93 6,621,228 3.20 12.514 622 99.75
13.000 - 13.499 1 62,958 0.03 13.130 641 100.00
13.500 - 13.999 3 173,782 0.08 13.543 631 99.88
14.500 - 14.999 1 44,963 0.02 14.500 601 100.00
16.500 - 16.999 1 39,173 0.02 16.875 625 100.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
56
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Original Combined Loan-to-Value Ratio
- ------------------------------------------------------------------------------------------------------------------------------------
Original Combined Number of Aggregate % of Aggregate W.A. W.A.
Loan-to-Value Mortgage Remaining Remaining W.A. Non-Zero Original
Ratio (%) Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Less than or equal to 50.00 13 3,933,194 1.90 7.041 701 40.82
50.01 - 55.00 6 1,393,394 0.67 8.141 641 53.67
55.01 - 60.00 7 3,142,666 1.52 7.842 628 58.21
60.01 - 65.00 12 4,289,594 2.07 7.497 655 63.55
65.01 - 70.00 25 9,873,962 4.77 7.463 637 68.81
70.01 - 75.00 26 6,693,100 3.23 7.486 656 74.31
75.01 - 80.00 116 42,797,707 20.66 7.684 670 79.78
80.01 - 85.00 52 17,082,794 8.25 8.750 600 84.54
85.01 - 90.00 129 49,414,872 23.85 8.661 625 89.81
90.01 - 95.00 97 38,686,336 18.68 8.884 651 94.85
95.01 - 100.00 271 29,844,364 14.41 10.908 641 99.85
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FICO Score at Origination
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
FICO Score Number of Aggregate Remaining Remaining W.A. Non-Zero Original
At Origination Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
500 - 524 10 1,753,731 0.85 10.364 510 72.41
525 - 549 19 4,806,032 2.32 9.415 535 74.02
550 - 574 45 12,641,264 6.10 9.308 564 78.47
575 - 599 69 20,905,400 10.09 8.959 587 85.82
600 - 624 202 40,945,946 19.77 9.516 613 90.95
625 - 649 202 47,635,341 23.00 9.113 636 89.67
650 - 674 81 28,295,982 13.66 8.265 660 88.35
675 - 699 51 19,834,993 9.58 7.908 686 84.11
700 - 724 21 6,823,096 3.29 7.264 711 79.14
725 - 749 24 8,954,659 4.32 7.846 737 83.38
750 - 774 17 7,689,782 3.71 6.868 761 76.23
775 - 799 9 4,543,514 2.19 5.905 781 78.26
800 - 824 4 2,322,244 1.12 5.581 804 65.45
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
57
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Geographic Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
Number of Aggregate % of Aggregate W.A. W.A.
Mortgage Remaining Remaining W.A. Non-Zero Original
Location Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
California 324 100,168,767 48.36 8.457 648 84.54
New York 77 30,105,192 14.53 8.224 652 87.07
Florida 128 28,988,954 13.99 9.035 635 87.13
Arizona 52 9,128,962 4.41 8.989 640 84.34
Washington 27 6,830,920 3.30 8.999 638 89.21
New Jersey 12 5,007,960 2.42 8.981 629 89.06
Connecticut 10 3,729,602 1.80 8.590 658 88.63
Nevada 20 2,554,174 1.23 10.310 633 92.02
Massachusetts 6 2,471,088 1.19 8.324 628 92.83
Maryland 6 1,961,868 0.95 8.673 598 83.53
Michigan 12 1,858,984 0.90 9.972 621 87.67
Pennsylvania 8 1,645,162 0.79 9.838 639 84.56
Missouri 8 1,229,146 0.59 8.481 625 75.33
Virginia 3 1,176,894 0.57 9.317 589 80.83
Utah 4 1,091,719 0.53 9.334 602 92.13
New Hampshire 2 999,871 0.48 8.786 651 95.59
Alabama 2 993,524 0.48 9.807 586 91.63
Texas 6 735,875 0.36 9.998 616 89.84
Georgia 5 730,262 0.35 9.546 621 85.85
Louisiana 6 724,390 0.35 9.983 596 87.27
Colorado 5 684,641 0.33 9.712 664 93.57
Oregon 4 540,767 0.26 9.794 657 90.95
Idaho 1 512,000 0.25 7.750 658 79.75
Ohio 3 436,028 0.21 8.885 665 93.10
South Carolina 4 426,712 0.21 10.474 633 85.51
Indiana 4 366,867 0.18 9.567 627 86.01
Minnesota 1 349,900 0.17 8.750 748 100.00
Oklahoma 2 343,659 0.17 10.480 594 86.49
New Mexico 1 332,796 0.16 8.450 620 90.00
Kentucky 3 268,070 0.13 9.525 596 74.77
Wisconsin 2 236,071 0.11 10.914 617 87.57
Maine 2 202,329 0.10 9.500 619 82.73
Delaware 1 175,750 0.08 9.500 647 95.00
Mississippi 1 78,979 0.04 12.375 563 87.78
Illinois 1 32,956 0.02 11.380 662 100.00
North Carolina 1 31,142 0.02 12.240 601 100.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
58
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Occupancy Status
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Occupancy Status Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Primary 722 199,486,765 96.30 8.661 643 86.26
Investment 29 6,645,944 3.21 8.770 649 77.74
Second Home 3 1,019,272 0.49 9.079 619 86.45
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Documentation Type
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Program Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Full Documentation 359 111,555,674 53.85 8.172 637 84.39
Stated Documentation 388 92,793,942 44.80 9.253 650 88.02
No Documentation 4 1,425,131 0.69 8.451 677 72.81
Limited Documentation 3 1,377,234 0.66 9.338 607 92.66
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Loan Purpose
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Purpose Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Purchase 486 107,311,242 51.80 9.169 651 90.08
Refinance - Cashout 244 90,062,413 43.48 8.233 628 82.25
Refinance - Rate Term 24 9,778,327 4.72 7.136 701 75.61
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Property Type
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Nmuber of Aggregate Remaining Remaining W.A. Non-Zero Original
Property Type Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Single Family Residence 549 147,119,622 71.02 8.620 640 85.34
PUD 113 31,496,178 15.20 8.705 655 87.96
2-4 Family 46 16,228,530 7.83 8.788 653 88.18
Condo 46 12,307,651 5.94 8.960 644 85.82
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
59
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Next Rate Adjustment Date*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Month & Year of Next Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Rate Adjustment Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
May 2008 1 202,701 0.13 9.750 525 85.00
January 2009 7 1,895,195 1.19 8.866 657 80.52
February 2009 13 5,037,129 3.16 8.142 610 87.89
March 2009 57 20,497,789 12.85 8.096 653 86.38
April 2009 120 43,065,816 27.00 8.760 632 87.34
May 2009 114 39,529,059 24.78 8.899 622 85.53
June 2009 25 7,788,895 4.88 9.003 600 83.37
January 2010 1 239,747 0.15 9.190 662 80.00
February 2010 3 1,160,949 0.73 8.427 615 88.59
March 2010 26 11,818,668 7.41 7.786 665 88.21
April 2010 29 13,580,382 8.51 7.973 642 84.08
May 2010 16 6,055,676 3.80 8.592 623 85.57
June 2010 4 1,502,700 0.94 8.645 647 93.87
February 2012 1 440,000 0.28 6.990 684 80.00
March 2012 1 1,100,000 0.69 8.125 642 69.84
April 2012 6 2,959,794 1.86 7.987 655 85.48
May 2012 4 804,826 0.50 9.580 588 71.84
June 2012 5 1,818,550 1.14 8.190 609 87.22
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 433 159,497,876 100.00 8.530 633 86.03
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Gross Margin*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Gross Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Margin (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
4.000 - 4.499 1 98,543 0.06 7.500 626 89.92
5.000 - 5.499 52 18,612,540 11.67 8.082 637 75.71
5.500 - 5.999 174 69,787,508 43.75 8.348 640 87.51
6.000 - 6.499 117 40,022,072 25.09 8.597 618 84.72
6.500 - 6.999 70 26,024,547 16.32 9.047 639 91.57
7.000 - 7.499 13 3,560,474 2.23 9.675 613 86.78
7.500 - 7.999 6 1,392,193 0.87 9.154 664 81.82
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 433 159,497,876 100.00 8.530 633 86.03
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
60
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Maximum Mortgage Rate*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Maximum Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
11.500 - 11.999 3 1,395,481 0.87 5.926 657 80.00
12.000 - 12.499 4 2,194,066 1.38 6.294 683 82.06
12.500 - 12.999 26 11,973,420 7.51 6.793 670 83.37
13.000 - 13.499 28 11,473,997 7.19 7.259 657 79.79
13.500 - 13.999 65 28,006,358 17.56 7.757 645 85.78
14.000 - 14.499 50 21,021,991 13.18 8.260 637 84.04
14.500 - 14.999 86 33,242,553 20.84 8.725 629 89.56
15.000 - 15.499 44 15,835,711 9.93 9.189 619 86.42
15.500 - 15.999 59 18,331,123 11.49 9.700 611 86.71
16.000 - 16.499 28 7,325,457 4.59 10.206 618 88.09
16.500 - 16.999 25 6,215,290 3.90 10.523 594 88.94
17.000 - 17.499 6 693,568 0.43 11.255 578 87.75
17.500 - 17.999 5 765,301 0.48 11.531 575 84.90
18.000 - 18.499 3 738,707 0.46 12.354 566 82.47
19.500 - 19.999 1 284,853 0.18 12.500 637 95.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 433 159,497,876 100.00 8.530 633 86.03
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
61
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Minimum Mortgage Rate*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Minimum Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Mortgage Rate (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
5.500 - 5.999 3 1,395,481 0.87 5.926 657 80.00
6.000 - 6.499 4 2,194,066 1.38 6.294 683 82.06
6.500 - 6.999 25 11,653,952 7.31 6.789 669 83.46
7.000 - 7.499 29 11,793,465 7.39 7.250 659 79.80
7.500 - 7.999 66 28,726,358 18.01 7.762 645 85.89
8.000 - 8.499 50 21,021,991 13.18 8.260 637 84.04
8.500 - 8.999 87 33,293,701 20.87 8.744 630 89.49
9.000 - 9.499 43 15,415,711 9.67 9.201 617 86.59
9.500 - 9.999 63 19,203,333 12.04 9.715 611 86.70
10.000 - 10.499 28 7,325,457 4.59 10.206 618 88.09
10.500 - 10.999 20 4,991,932 3.13 10.723 588 88.92
11.000 - 11.499 6 693,568 0.43 11.255 578 87.75
11.500 - 11.999 5 765,301 0.48 11.531 575 84.90
12.000 - 12.499 3 738,707 0.46 12.354 566 82.47
12.500 - 12.999 1 284,853 0.18 12.500 637 95.00
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 433 159,497,876 100.00 8.530 633 86.03
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Initial Periodic Rate Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Initial Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
2.000 1 242,774 0.15 8.750 579 90.00
3.000 432 159,255,102 99.85 8.529 633 86.02
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 433 159,497,876 100.00 8.530 633 86.03
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Subsequent Periodic Rate Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Subsequent Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
1.000 431 158,575,175 99.42 8.531 633 86.01
1.500 2 922,701 0.58 8.345 616 88.90
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 433 159,497,876 100.00 8.530 633 86.03
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
62
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
DESCRIPTION OF THE GROUP 2 COLLATERAL
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Lifetime Periodic Cap*
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Lifetime Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Periodic Cap (%) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
6.000 - 6.499 424 156,498,517 98.12 8.514 633 85.97
6.500 - 6.999 1 420,000 0.26 8.750 679 80.00
7.000 - 7.499 8 2,579,359 1.62 9.419 629 90.78
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 433 159,497,876 100.00 8.530 633 86.03
- ------------------------------------------------------------------------------------------------------------------------------------
*ARM Loans Only
- ------------------------------------------------------------------------------------------------------------------------------------
Original Prepayment Charge Term
- ------------------------------------------------------------------------------------------------------------------------------------
% of Aggregate W.A. W.A.
Prepayment Penalty Number of Aggregate Remaining Remaining W.A. Non-Zero Original
Term (mos.) Mortgage Loans Principal Balance ($) Principal Balance Coupon (%) FICO CLTV (%)
- ------------------------------------------------------------------------------------------------------------------------------------
N/A 168 56,997,229 27.51 8.730 644 87.72
12 41 11,353,194 5.48 9.475 635 88.24
24 421 92,912,872 44.85 9.157 626 88.16
36 119 44,738,574 21.60 7.375 681 78.56
48 5 1,150,113 0.56 8.082 650 92.29
- ------------------------------------------------------------------------------------------------------------------------------------
Total: 754 207,151,981 100.00 8.666 643 85.99
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
63
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
FOR ADDITIONAL INFORMATION PLEASE CALL:
---------------------------------------------------------------------
Deutsche Bank Securities
---------------------------------------------------------------------
Whole Loan Trading
Michael Commaroto 212-250-3114
Paul Mangione 212-250-5786
ABS Banking
Sue Valenti 212-250-3455
Ernest Calabrese 212-250-5859
Patrick Lachanski 212-250-2259
ABS Structuring
Bill Yeung 212-250-6893
Chris Sudol 212-250-0507
ABS Collateral
Reta Chandra 212-250-2729
Jhoana Pajarillo 212-250-8387
---------------------------------------------------------------------
---------------------------------------------------------------------
Standard & Poor's Rating Service
---------------------------------------------------------------------
Mark Goldenberg 212-438-1641
Mike Dougherty 212-438-6891
---------------------------------------------------------------------
---------------------------------------------------------------------
Moody's Investors Service, Inc.
---------------------------------------------------------------------
Karen Ramallo 212-553-0370
Rachel Peng 212-553-3831
---------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
64
Registration Statement No. 333-141008
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5 FREE WRITING PROSPECTUS
- ------------------------------------------------------------------------------------------------------------------------------------
The following is a free writing prospectus. The information in this free writing prospectus is preliminary and
is subject to completion or change.
- ------------------------------------------------------------------------------------------------------------------------------------
FREE WRITING PROSPECTUS SUPPLEMENT
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp.
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
$397,991,000 (Approximate)
- ------------------------------------------------------------------------------------------------------------------------------------
Home Equity Loan Trust
Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp.
(Depositor)
ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE5
(Issuing Entity)
- ------------------------------------------------------------------------------------------------------------------------------------
Deutsche Bank [LOGO]
June 13, 2007
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
1
------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
The analysis in this report is based on information provided by ACE Securities Corp. (the "Depositor"). Investors are urged to read
the base prospectus and the prospectus supplement and other relevant documents filed or to be filed with the Securities and Exchange
Commission because they contain important information. Such documents may be obtained without charge at the Securities and Exchange
Commission's website. Once available, the base prospectus and prospectus supplement may be obtained without charge by contacting
Deutsche Bank Securities Inc.'s ("DBSI") trading desk at (212) 250-7730. This free writing prospectus is not required to contain all
information that is required to be included in the base prospectus and the prospectus supplement (collectively, the "Prospectus").
The information in this free writing prospectus is preliminary and is subject to completion or change. The information in this free
writing prospectus, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior
similar free writing prospectus relating to these securities. This free writing prospectus is not an offer to sell or a solicitation
of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted. You should consult your
own counsel, accountant, and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these
securities.
The attached information contains certain tables and other statistical analyses (the "Computational Materials") which have been
prepared by DBSI in reliance upon information furnished by the Depositor. Numerous assumptions were used in preparing the
Computational Materials that may or may not be reflected herein. As such, no assurance can be given as to whether the Computational
Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These
Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting
advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on
prepayment assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and
principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or
faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational
Materials assume no losses on the underlying assets and no interest shortfalls. The specific characteristics of the securities may
differ from those shown in the Computational Materials by a permitted variance of +/- 5% prior to issuance. Neither DBSI nor any of
its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or
the payments or yield on the securities.
An investor or potential investor in the certificates (and each employee, representative, or other agent of such person or entity)
may disclose to any and all persons, without limitation, the tax treatment and tax structure of the transaction (as defined in
United States Treasury Regulation Section 1.6011-4) and all related materials of any kind, including opinions or other tax analyses,
that are provided to such person or entity. However, such person or entity may not disclose any other information relating to this
transaction unless such information is related to such tax treatment and tax structure.
THIS INFORMATION IS FURNISHED TO YOU SOLELY BY DBSI AND NOT BY THE ISSUING ENTITY OF THE SECURITIES OR ANY OF ITS AFFILIATES. DBSI
IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUING ENTITY IN CONNECTION WITH THE PROPOSED TRANSACTION.
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
2
------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
FREE WRITING PROSPECTUS SUPPLEMENT DATED June 13, 2007
ACE Securities Corp.
Home Equity Loan Trust, Series 2007-HE5
$397,991,000 (Approximate)
All dollar amounts and percentages contained herein are subject to a permitted variance of +/- 5%
- ------------------------------------------------------------------------------------------------------------------------------------
Structure Overview
- ------------------------------------------------------------------------------------------------------------------------------------
To 10% Optional Termination
- ------------------------------------------------------------------------------------------------------------------------------------
Class Approximate Initial CE %* Targeted CE % On/After Step Expected Ratings
Size ($) Down Date* S / M
- ------------------------------------------------------------------------------------------------------------------------------------
Offered Certificates:
A-1 $156,231,000 | AAA/Aaa
A-2A 77,627,000 | AAA/Aaa
A-2B 26,184,000 } 27.45% 54.90% AAA/Aaa
A-2C 30,709,000 | AAA/Aaa
A-2D 15,770,000 | AAA/Aaa
M-1 18,590,000 23.05% 46.10% AA+/Aa1
M-2 17,111,000 19.00% 38.00% AA/Aa2
M-3 10,562,000 16.50% 33.00% AA/Aa3
M-4 8,872,000 14.40% 28.80% AA-/A1
M-5 8,239,000 12.45% 24.90% A+/A2
M-6 8,027,000 10.55% 21.10% A/A3
M-7 7,394,000 8.80% 17.60% BBB+/Baa1
M-8 6,549,000 7.25% 14.50% BBB/Baa2
M-9 6,126,000 5.80% 11.60% BBB-/Baa3
-------------------------
Total Offered $397,991,000
- ------------------------------------------------------------------------------------------------------------------------------------
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
3
------------------------------------------------------------------------------------------------------------------------------------
ACE Securities Corp. Deutsche Bank [LOGO]
Home Equity Loan Trust, Series 2007-HE5
- ------------------------------------------------------------------------------------------------------------------------------------
FOR ADDITIONAL INFORMATION PLEASE CALL:
-----------------------------------------------------------------------------------------
Deutsche Bank Securities
-----------------------------------------------------------------------------------------
Whole Loan Trading
------------------
Michael Commaroto 212-250-3114
Paul Mangione 212-250-5786
ABS Banking
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Sue Valenti 212-250-3455
Ernest Calabrese 212-250-5859
Patrick Lachanski 212-250-2259
ABS Structuring
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Bill Yeung 212-250-6893
Chris Sudol 212-250-0507
ABS Collateral
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Reta Chandra 212-250-2729
Jhoana Pajarillo 212-250-8387
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Standard & Poor's Rating Service
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Mark Goldenberg 212-438-1641
Mike Dougherty 212-438-6891
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Moody's Investors Service, Inc.
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Karen Ramallo 212-553-0370
Rachel Peng 212-553-3831
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The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing
prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the
depositor has filed with the SEC for more complete information about the issuing entity and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer
participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at
212-250-7730. This free writing prospectus is not required to contain all information that is required to be included in the base
prospectus and the prospectus supplement. The information in this free writing prospectus is preliminary and is subject to
completion or change. The information in this free writing prospectus, if conveyed prior to the time of your commitment to purchase,
supersedes information contained in any prior similar free writing prospectus relating to these securities. THIS FREE WRITING
PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION
OR SALE IS NOT PERMITTED. The information in this free writing prospectus may be based on preliminary assumptions about the pool
assets and the structure. Any such assumptions are subject to change
4