Exhibit 99.1
THE MORTGAGE POOL
The pool of mortgage loans will consist of approximately 2,114
conventional, one- to four-family, adjustable-rate and fixed-rate mortgage loans
(the "Mortgage Loans") secured by first liens on residential real properties
(the "Mortgaged Properties") and having an aggregate principal balance as of
July 1, 2001 (the "Subsequent Cut-off Date") of approximately $299,829,218.04,
after application of scheduled payments due on or before the Subsequent Cut-off
Date whether or not received, and subject to a permitted variance of plus or
minus 5%. The Mortgage Loans have original terms to maturity of not greater than
30 years from the date on which the first payment was due on each Mortgage Loan.
Approximately 78.47% of the Mortgage Loans were retail originated loans and
approximately 21.53% of the Mortgage Loans were wholesale originated loans,
originated under Ameriquest's new wholesale division, which was commenced on, or
about, January 1, 2000 (hereinafter referred to as "Ameriquest Wholesale").
Approximately 67.01% of the Mortgage Loans were originated under the
Originator's "Standard" underwriting program and approximately 32.99% of the
Mortgage Loans were originated under the Originator's "LTV Plus" underwriting
program.
Approximately 3.54% of the Mortgage Loans are fixed-rate Mortgage Loans and
approximately 96.46% of the Mortgage Loans are adjustable-rate Mortgage Loans.
The "Mortgage Rate" on each Mortgage Loan is the per annum rate of interest
specified in the related mortgage note. Each adjustable-rate Mortgage Loan
provides for semi-annual adjustment to its Mortgage Rate; provided, however,
that the rate first adjusts after an initial period of approximately two years
from origination. In connection with each Mortgage Rate adjustment, the
adjustable-rate Mortgage Loans provide for corresponding adjustments to their
monthly payment amounts, in each case on each applicable adjustment date (each
such date, an "Adjustment Date"). On each Adjustment Date, the Mortgage Rate on
each adjustable-rate Mortgage Loan will be adjusted to equal the sum, rounded to
the nearest multiple of 0.125%, of the Index (as described below) and a fixed
percentage amount (the "Gross Margin") for that Mortgage Loan specified in the
related Mortgage Note; provided, however, that with respect to all of the
adjustable-rate Mortgage Loans, the Mortgage Rate will generally increase or
decrease by no more than 1.00% per annum on any related Adjustment Date (the
"Periodic Rate Cap"), as provided in the related Mortgage Note, and will not
exceed a specified maximum Mortgage Rate over the life of such Mortgage Loan
(the "Maximum Mortgage Rate") or be less than a specified minimum Mortgage Rate
over the life of such Mortgage Loan (the "Minimum Mortgage Rate").
Notwithstanding the foregoing, the adjustable-rate Mortgage Loans generally have
a Periodic Rate Cap of 2.00%, as specified in the related Mortgage Note, for
their first Adjustment Date. Effective with the first monthly payment due on
each adjustable-rate Mortgage Loan after each related Adjustment Date, the
monthly payment amount will be adjusted to an amount that will amortize fully
the outstanding principal balance of that Mortgage Loan over its remaining term,
and pay interest at the Mortgage Rate as so adjusted. Due to the application of
the Periodic Rate Caps and the Maximum Mortgage Rates, the Mortgage Rate on each
adjustable-rate Mortgage Loan, as adjusted on any related Adjustment Date, may
be less than the sum of the Index, calculated as described herein, and the
related Gross Margin. None of the adjustable-rate Mortgage Loans permits the
related mortgagor to convert the adjustable Mortgage Rate thereon to a fixed
Mortgage Rate.
Approximately 81.73% of the Mortgage Loans by aggregate principal balance
as of the Subsequent Cut-off Date provide for payment by the mortgagor of a
prepayment charge (a "Prepayment Charge") on certain voluntary prepayments in
full.
None of the Mortgage Loans are Buydown Mortgage Loans.
The average principal balance of the Mortgage Loans at origination was
approximately $141,977. No Mortgage Loan had a principal balance at origination
greater than approximately $650,000 or less than
-4-
approximately $20,000. The average principal balance of the Mortgage Loans as of
the Subsequent Cut-off Date was approximately $141,830. No Mortgage Loan had a
principal balance as of the Subsequent Cut-off Date greater than approximately
$649,644 or less than approximately $19,924.
The Mortgage Loans had Mortgage Rates as of the Subsequent Cut-off Date
ranging from approximately 6.88% per annum to approximately 14.99% per annum,
and the weighted average Mortgage Rate on the Mortgage Loans was approximately
9.16% per annum. As of the Subsequent Cut-off Date, the adjustable-rate Mortgage
Loans had Gross Margins ranging from approximately 4.71% to approximately 7.13%,
Minimum Mortgage Rates ranging from approximately 6.88% per annum to
approximately 14.99% per annum and Maximum Mortgage Rates ranging from
approximately 12.88% per annum to approximately 20.99% per annum. As of the
Subsequent Cut-off Date, the weighted average Gross Margin on the
adjustable-rate Mortgage Loans was approximately 6.38%, the weighted average
Minimum Mortgage Rate on the adjustable-rate Mortgage Loans was approximately
9.15% per annum and the weighted average Maximum Mortgage Rate on the
adjustable-rate Mortgage Loans was approximately 15.15% per annum. The latest
first Adjustment Date following the Subsequent Cut-off Date on any
adjustable-rate Mortgage Loan occurs in July 2003 and the weighted average next
Adjustment Date for all of the adjustable-rate Mortgage Loans following the
Subsequent Cut-off Date is May 2003.
The weighted average loan-to-value ratio at origination of the Mortgage
Loans was approximately 80.33%. At origination, no Mortgage Loan had a
loan-to-value ratio greater than approximately 95.00% or less than approximately
13.33%. Approximately 84.04% of the Mortgage Loans are covered by the PMI
policy.
The weighted average remaining term to stated maturity of the Mortgage
Loans was approximately 29 years and 2 months as of the Subsequent Cut-off Date.
None of the Mortgage Loans will have a first Due Date prior to December 2000 or
after August 2001, or will have a remaining term to stated maturity of less than
14 years and 6 months or greater than 30 years as of the Subsequent Cut-off
Date. The latest maturity date of any Mortgage Loan is July 2031.
The Mortgage Loans are expected to have the following characteristics as of
the Subsequent Cut-off Date (the sum in any column may not equal the total
indicated due to rounding):
-5-
PRINCIPAL BALANCES OF THE MORTGAGE LOANS AT ORIGINATION
% OF
NUMBER AGGREGATE ORIGINAL AGGREGATE ORIGINAL
RANGE ($) OF LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
--------- -------- ------------------ ------------------
0.0 - 50,000.00 ........ 134 $ 5,818,737.00 1.94%
50,000.01 - 100,000.00 ........ 650 48,956,414.00 16.31
100,000.01 - 150,000.00 ........ 549 67,924,003.00 22.63
150,000.01 - 200,000.00 ........ 362 62,248,905.92 20.74
200,000.01 - 250,000.00 ........ 221 48,894,225.00 16.29
250,000.01 - 300,000.00 ........ 91 24,802,682.00 8.26
300,000.01 - 350,000.00 ........ 39 12,712,864.00 4.24
350,000.01 - 400,000.00 ........ 35 13,188,405.00 4.39
400,000.01 - 450,000.00 ........ 13 5,549,704.00 1.85
450,000.01 - 500,000.00 ........ 17 8,294,141.00 2.76
500,000.01 - 550,000.00 ........ 2 1,100,000.00 0.37
600,000.01 - 650,000.00 ........ 1 650,000.00 0.22
----- --------------- ------
Total ....................... 2,114 $300,140,080.92 100.00%
===== =============== ======
PRINCIPAL BALANCES OF THE MORTGAGE LOANS AS OF THE SUBSEQUENT CUT-OFF DATE
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
RANGE ($) OF LOANS OFF DATE DATE
--------- -------- ------------------- ----------------------
0.01 - 50,000.00 ............... 135 $ 5,857,006.20 1.95%
50,000.01 - 100,000.00 ............... 650 48,949,980.56 16.33
100,000.01 - 150,000.00 ............... 550 68,042,871.91 22.69
150,000.01 - 200,000.00 ............... 366 63,088,301.03 21.04
200,000.01 - 250,000.00 ............... 215 47,651,072.58 15.89
250,000.01 - 300,000.00 ............... 91 24,782,929.46 8.27
300,000.01 - 350,000.00 ............... 39 12,700,474.63 4.24
350,000.01 - 400,000.00 ............... 35 13,176,530.41 4.39
400,000.01 - 450,000.00 ............... 13 5,543,752.67 1.85
450,000.01 - 500,000.00 ............... 17 8,287,657.71 2.76
500,000.01 - 550,000.00 ............... 2 1,098,996.68 0.37
600,000.01 - 650,000.00 ............... 1 649,644.20 0.22
----- --------------- ------
Total ............................... 2,114 $299,829,218.04 100.00%
===== =============== ======
-6-
MORTGAGE RATES OF THE MORTGAGE LOANS AS OF THE SUBSEQUENT CUT-OFF DATE (1)
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
MORTGAGE RATE (%) OF LOANS OFF DATE DATE
- ----------------- -------- ------------------- ----------------------
6.500 - 6.999 ................ 84 $ 8,945,384.07 2.98%
7.000 - 7.499 ................ 76 12,809,361.61 4.27
7.500 - 7.999 ................ 300 55,368,645.41 18.47
8.000 - 8.499 ................ 170 31,448,966.24 10.49
8.500 - 8.999 ................ 405 62,000,580.83 20.68
9.000 - 9.499 ................ 170 25,051,655.36 8.36
9.500 - 9.999 ................ 230 31,730,258.66 10.58
10.000 - 10.499 ................ 103 12,345,131.02 4.12
10.500 - 10.999 ................ 217 24,480,584.59 8.16
11.000 - 11.499 ................ 101 11,080,121.30 3.70
11.500 - 11.999 ................ 125 12,775,876.75 4.26
12.000 - 12.499 ................ 44 4,393,172.16 1.47
12.500 - 12.999 ................ 58 4,851,189.99 1.62
13.000 - 13.499 ................ 7 602,394.38 0.20
13.500 - 13.999 ................ 16 1,161,963.01 0.39
14.000 - 14.499 ................ 4 251,824.67 0.08
14.500 - 14.999 ................ 4 532,107.99 0.18
----- --------------- ------
Total...................... 2,114 $299,829,218.04 100.00%
===== =============== ======
______________________
(1) The weighted average mortgage rate of the Mortgage Loans as of the
Subsequent Cut-off Date was approximately 9.16% per annum.
-7-
MAXIMUM MORTGAGE RATES OF THE ADJUSTABLE-RATE MORTGAGE LOANS (1)
% OF AGGREGATE
AGGREGATE PRINCIPAL PRINCIPAL BALANCE
BALANCE OUTSTANDING AS OUTSTANDING AS OF
MAXIMUM NUMBER OF THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-
MORTGAGE RATE (%) OF LOANS OFF DATE OFF DATE
- ----------------- -------- ---------------------- ------------------
12.500 - 12.999.......... 84 $ 8,945,384.07 3.09%
13.000 - 13.499.......... 72 11,953,966.23 4.13
13.500 - 13.999.......... 293 54,398,718.48 18.81
14.000 - 14.499.......... 162 30,046,357.67 10.39
14.500 - 14.999.......... 395 60,388,627.78 20.88
15.000 - 15.499.......... 162 23,913,143.83 8.27
15.500 - 15.999.......... 222 30,625,738.53 10.59
16.000 - 16.499.......... 97 11,565,416.58 4.00
16.500 - 16.999.......... 205 23,263,479.69 8.04
17.000 - 17.499.......... 92 9,961,565.66 3.44
17.500 - 17.999.......... 119 12,420,524.91 4.29
18.000 - 18.499.......... 44 4,393,172.16 1.52
18.500 - 18.999.......... 57 4,802,935.62 1.66
19.000 - 19.499.......... 7 602,394.38 0.21
19.500 - 19.999.......... 16 1,161,963.01 0.40
20.000 - 20.499.......... 4 251,824.67 0.09
20.500 - 20.999.......... 4 532,107.99 0.18
----- --------------- ------
Total............... 2,035 $289,227,321.26 100.00%
===== =============== ======
______________________
(1) The weighted average maximum mortgage rate of the adjustable-rate Mortgage
Loans at origination was approximately 15.15% per annum.
-8-
MINIMUM MORTGAGE RATES OF THE ADJUSTABLE-RATE MORTGAGE LOANS (1)
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
MINIMUM NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
MORTGAGE RATE (%) OF LOANS OFF DATE DATE
- ----------------- -------- ------------------- ----------------------
6.500 - 6.999.................. 84 $ 8,945,384.07 3.09%
7.000 - 7.499.................. 72 11,953,966.23 4.13
7.500 - 7.999.................. 293 54,398,718.48 18.81
8.000 - 8.499.................. 162 30,046,357.67 10.39
8.500 - 8.999.................. 395 60,388,627.78 20.88
9.000 - 9.499.................. 162 23,913,143.83 8.27
9.500 - 9.999.................. 222 30,625,738.53 10.59
10.000 - 10.499.................. 97 11,565,416.58 4.00
10.500 - 10.999.................. 205 23,263,479.69 8.04
11.000 - 11.499.................. 92 9,961,565.66 3.44
11.500 - 11.999.................. 119 12,420,524.91 4.29
12.000 - 12.499.................. 44 4,393,172.16 1.52
12.500 - 12.999.................. 57 4,802,935.62 1.66
13.000 - 13.499.................. 7 602,394.38 0.21
13.500 - 13.999.................. 16 1,161,963.01 0.40
14.000 - 14.499.................. 4 251,824.67 0.09
14.500 - 14.999.................. 4 532,107.99 0.18
----- --------------- ------
Total....................... 2,035 $289,227,321.26 100.00%
===== =============== ======
______________________
(1) The weighted average minimum mortgage rate of the adjustable-rate Mortgage
Loans at origination was approximately 9.15% per annum.
GROSS MARGINS OF THE ADJUSTABLE-RATE MORTGAGE LOANS (1)
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
GROSS MARGIN (%) OF LOANS OFF DATE DATE
- ---------------- -------- ------------------- ----------------------
4.500 - 4.749 ........... 1 $ 203,882.84 0.07%
5.000 - 5.249 ........... 1 270,601.80 0.09
5.500 - 5.749 ........... 401 55,361,948.88 19.14
5.750 - 5.999 ........... 7 989,414.12 0.34
6.000 - 6.249 ........... 12 2,754,364.04 0.95
6.250 - 6.499 ........... 10 1,597,037.90 0.55
6.500 - 6.749 ........... 1,236 190,570,179.62 65.89
6.750 - 6.999 ........... 31 4,056,383.98 1.40
7.000 - 7.249 ........... 336 33,423,508.08 11.56
----- --------------- ------
Total............... 2,035 $289,227,321.26 100.00%
===== =============== ======
______________________
(1) The weighted average gross margin of the adjustable-rate Mortgage Loans at
origination was approximately 6.38% per annum.
-9-
ORIGINAL LOAN-TO-VALUE RATIOS OF THE MORTGAGE LOANS (1)
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
ORIGINAL NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
LOAN-TO-VALUE RATIO (%) OF LOANS OFF DATE DATE
- ----------------------- -------- ------------------ ----------------------
Less than or equal to 25.00 ......... 2 $ 126,955.53 0.04%
25.01 - 30.00 ....................... 9 939,210.85 0.31
30.01 - 35.00 ....................... 9 953,133.18 0.32
35.01 - 40.00 ....................... 12 754,711.67 0.25
40.01 - 45.00 ....................... 15 1,307,460.52 0.44
45.01 - 50.00 ....................... 39 5,791,802.70 1.93
50.01 - 55.00 ....................... 30 3,432,061.26 1.14
55.01 - 60.00 ....................... 81 8,121,039.78 2.71
60.01 - 65.00 ....................... 76 11,514,374.20 3.84
65.01 - 70.00 ....................... 143 17,461,008.22 5.82
70.01 - 75.00 ....................... 232 30,251,856.37 10.09
75.01 - 80.00 ....................... 312 46,734,687.16 15.59
80.01 - 85.00 ....................... 456 65,713,486.57 21.92
85.01 - 90.00 ....................... 675 102,521,061.15 34.19
90.01 - 95.00 ....................... 23 4,206,368.88 1.40
----- --------------- ------
Total .......................... 2,114 $299,829,218.04 100.00%
===== =============== ======
______________________
(1) The weighted average loan-to-value ratio of the Mortgage Loans at
origination was approximately 80.33%.
-10-
GEOGRAPHIC DISTRIBUTION OF THE MORTGAGED PROPERTIES (1)
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
LOCATION OF LOANS OFF DATE DATE
- -------- -------- ------------------- ----------------------
Alabama .............. 40 $ 4,239,257.86 1.41%
Arizona .............. 63 7,696,829.39 2.57
California ........... 546 104,619,020.82 34.89
Colorado ............. 77 11,324,263.32 3.78
Connecticut .......... 48 6,089,419.55 2.03
Florida .............. 116 12,969,761.44 4.33
Georgia .............. 30 3,372,997.35 1.12
Hawaii ............... 21 5,108,908.52 1.70
Idaho ................ 1 169,086.23 0.06
Illinois ............. 93 12,285,068.98 4.10
Indiana .............. 43 3,875,878.43 1.29
Iowa ................. 25 1,950,760.46 0.65
Kansas ............... 12 1,010,243.52 0.34
Kentucky ............. 4 334,625.40 0.11
Louisiana ............ 21 1,734,316.08 0.58
Maine ................ 7 744,433.65 0.25
Maryland ............. 37 6,047,594.34 2.02
Massachusetts ........ 92 15,656,941.40 5.22
Michigan ............. 149 15,871,620.21 5.29
Minnesota ............ 111 15,046,376.12 5.02
Mississippi .......... 4 307,974.46 0.10
Missouri ............. 29 2,901,699.53 0.97
Montana .............. 2 137,986.05 0.05
Nebraska ............. 9 893,037.94 0.30
Nevada ............... 6 994,418.69 0.33
New Hampshire ........ 17 2,214,899.49 0.74
New Jersey ........... 87 13,331,222.43 4.45
New Mexico ........... 13 1,212,508.72 0.40
New York ............. 60 9,393,433.50 3.13
Ohio ................. 62 5,734,862.54 1.91
Oklahoma ............. 11 1,009,922.81 0.34
Oregon ............... 10 807,577.72 0.27
Pennsylvania ......... 74 6,800,427.08 2.27
Rhode Island ......... 23 2,808,465.13 0.94
South Carolina ....... 1 62,912.03 0.02
South Dakota ......... 1 42,133.61 0.01
Tennessee ............ 10 1,025,056.25 0.34
Texas ................ 87 9,002,950.12 3.00
Utah ................. 14 2,315,345.96 0.77
Vermont .............. 2 193,061.93 0.06
Washington ........... 50 8,083,887.99 2.70
Wyoming .............. 6 408,030.99 0.14
----- --------------- ------
Total............ 2,114 $299,829,218.04 100.00%
===== =============== ======
______________________
(1) The greatest zip code geographic concentration of mortgage loans was
approximately 0.50% in the 94509 zip code.
-11-
MORTGAGED PROPERTY TYPES OF THE MORTGAGE LOANS
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
PROPERTY TYPE OF LOANS OFF DATE DATE
- ------------- -------- ------------------- ----------------------
Single Family Detached ................ 1,800 $255,143,506.32 85.10%
Single Family Attached ................ 19 1,979,837.25 0.66
Two- to Four-Family ................... 101 14,896,670.99 4.97
Condominium ........................... 96 11,660,871.45 3.89
Planned Unit Development Detached ..... 78 14,128,018.02 4.71
Planned Unit Development Attached ..... 5 619,305.91 0.21
Manufactured Housing .................. 15 1,401,008.10 0.47
----- --------------- ------
Total ............................ 2,114 $299,829,218.04 100.00%
MORTGAGED PROPERTY OCCUPANCY STATUS OF THE MORTGAGE LOANS(1)
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
OCCUPANCY STATUS OF LOANS OFF DATE DATE
- ---------------- -------- ------------------- ----------------------
Owner-Occupied ................... 1,985 $285,927,658.17 95.36%
Non Owner Occupied ............... 116 12,071,332.92 4.03
Second Home ...................... 13 1,830,226.95 0.61
----- --------------- ------
Total .................. 2,114 $299,829,218.04 100.00%
______________________
(1) The occupancy status of a Mortgaged Property is as represented by the
mortgagor in its loan application.
PURPOSE OF THE MORTGAGE LOANS
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
LOAN PURPOSE OF LOANS OFF DATE DATE
- ------------ -------- ------------------- ----------------------
Purchase ......................... 74 $ 13,396,300.02 4.47%
Equity-out Refinance ............. 1,216 167,020,207.34 55.71
Refinance ........................ 824 119,412,710.68 39.83
----- --------------- ------
Total ....................... 2,114 $299,829,218.04 100.00%
-12-
INCOME DOCUMENTATION OF THE MORTGAGE LOANS
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
INCOME DOCUMENTATION OF LOANS OFF DATE DATE
- -------------------- -------- ------------------- ----------------------
Full Documentation ................ 1,584 $217,056,743.16 72.39%
Fast Trac Documentation ........... 216 37,654,235.43 12.56
Stated Income Documentation ....... 314 45,118,239.45 15.05
----- --------------- ------
Total ........................ 2,114 $299,829,218.04 100.00%
===== =============== ======
ORIGINATING SOURCES OF THE MORTGAGE LOANS
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
ORIGINATING SOURCE OF LOANS OFF DATE DATE
- ------------------ -------- ------------------ ----------------------
Retail ............... 1771 $235,276,203.07 78.47
Wholesale ............ 343 64,553,014.97 21.53
---- --------------- ------
Total ........... 2114 $299,829,218.04 100.00%
==== =============== ======
UNDERWRITING PROGRAM OF THE MORTGAGE LOANS
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
UNDERWRITING PROGRAM OF LOANS OFF DATE DATE
- -------------------- -------- ------------------- ----------------------
Standard ................. 1415 $200,904,334.94 67.01%
LTV Plus ................. 699 98,924,883.10 32.99
---- --------------- ------
Total ............... 2114 $299,829,218.04 100.00%
==== =============== ======
-13-
RISK CATEGORIES OF THE MORTGAGE LOANS
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
RISK CATEGORIES OF LOANS OFF DATE DATE
- --------------- -------- ------------------- ----------------------
AAA..................... 692 $101,612,296.57 33.89%
AA...................... 636 96,403,860.25 32.15
A....................... 288 39,077,788.03 13.03
B....................... 342 44,775,797.09 14.93
C....................... 121 13,859,262.59 4.62
D....................... 35 4,100,213.51 1.37
----- --------------- ------
Total.............. 2,114 $299,829,218.04 100.00%
===== =============== ======
-14-
QUALIFYING FICO SCORES OF THE MORTGAGE LOANS AT ORIGINATION (1)
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT- THE SUBSEQUENT CUT-OFF
QUALIFYING FICO SCORES OF LOANS OFF DATE DATE
- ---------------------- -------- ------------------- ----------------------
No Score ............... 13 $ 1,156,633.47 0.39%
500-549 ................ 289 35,600,587.31 11.87
550-599 ................ 772 112,381,041.65 37.48
600-649 ................ 543 80,161,758.76 26.74
650-699 ................ 384 54,416,344.09 18.15
700-749 ................ 85 11,947,273.43 3.98
750-799 ................ 28 4,165,579.33 1.39
----- --------------- ------
Total ........ 2,114 $299,829,218.04 100.00%
===== =============== ======
______________________
(1) The non-zero weighted average qualifying FICO Score of the Mortgage Loans at
origination was approximately 607.45.
NEXT ADJUSTMENT DATES FOR THE ADJUSTABLE-RATE MORTGAGE LOANS
AGGREGATE % OF AGGREGATE
PRINCIPAL BALANCE PRINCIPAL BALANCE
OUTSTANDING AS OF OUTSTANDING AS OF
NUMBER THE SUBSEQUENT CUT-OFF THE SUBSEQUENT
MONTH OF NEXT ADJUSTMENT DATE OF LOANS DATE CUT-OFF DATE
- ----------------------------- -------- ---------------------- -----------------
November 2002 ..................... 2 $ 249,759.97 0.09%
December 2002 ..................... 13 1,757,436.48 0.61
January 2003 ...................... 11 903,732.74 0.31
February 2003 ..................... 56 6,672,123.23 2.31
March 2003 ........................ 98 12,921,757.33 4.47
April 2003 ........................ 215 30,598,536.75 10.58
May 2003 .......................... 205 31,296,130.19 10.82
June 2003 ......................... 1,340 190,212,414.57 65.77
July 2003 ......................... 95 14,615,430.00 5.05
----- --------------- ------
Total ........................ 2,035 $289,227,321.26 100.00%
===== =============== ======