EXHIBIT 99.1
COMPUTATIONAL MATERIALS
11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2
$125,000,000 (APPROXIMATE)
$85,000,000 CLASS A-1, ASSET BACKED NOTES, SERIES 1999-2
$40,000,000 CLASS A-2, ASSET BACKED NOTES, SERIES 1999-2
The attached Computational Materials (the "Computational Materials") are
privileged and confidential and intended for use by the addressee only. The
Computational Materials are furnished to you solely by First Union Securities,
Inc. (the "Underwriter") and not by the issuer of the notes identified above
(the "Notes") or any other party. The Computational Materials are based upon
information made available to the Underwriter. Neither the Underwriter, the
issuer of the Notes, nor any other party makes any representation to the
accuracy or completeness of the information therein. The information herein is
preliminary, and will be superseded by the applicable prospectus supplement and
by any other information subsequently filed with the Securities and Exchange
Commission. The information herein may not be provided to any third party other
than the addressee's legal, tax, financial and/or accounting advisors for the
purpose of evaluating such information.
No assurance can be given as to the accuracy, appropriateness or completeness of
the Computational Materials in any particular context; or as to whether the
Computational Materials reflect future performance. The Computational Materials
should not be construed as either a prediction or as legal, tax, and financial
or accounting advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment and other assumptions. Actual experience may dramatically
affect such yields or weighted average lives. The principal amount and
designation of any security described in the Computational Materials are subject
to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
Notes has been filed with the Securities and Exchange Commission and is
effective, the final prospectus supplement relating to the Notes has not been
filed with the Securities and Exchange Commission. This communication shall not
constitute an offer to sell or a solicitation of an offer to buy nor shall there
be any sale of the Offered Notes in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state. Prospective purchasers are referred to the
final prospectus and prospectus supplement relating to the Offered Notes for
definitive terms of the Offered Notes and the collateral.
Please be advised that the Notes may not be appropriate for all investors.
Potential investors must be willing to assume, among other things, market price
volatility, prepayments, yield curve and interest rate risks. Investors should
fully consider the risk of an investment in the Notes.
If you have received this communication in error, please notify the sending
party immediately by telephone and return the original to such party by mail.
[FIRST UNION LOGO]
FIRST UNION SECURITIES, INC.
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 2
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SUMMARY OF TERMS -
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$85,000,000 CLASS A-1, Asset Backed Notes, Series 1999-2 (the
"Class A-1 Notes")
$40,000,000 CLASS A-2, Asset Backed Notes, Series 1999-2 (the
"Class A-2 Notes")
ISSUER: RBMG Funding Co. Mortgage Loan Trust 1999-2.
COLLATERAL: Adjustable rate and fixed rate mortgage loans.
SELLER: RBMG Asset Management Company, a subsidiary of Meritage
Mortgage Corporation or "Meritage," which is a 100%
owned subsidiary of Resource Bancshares Mortgage Group,
Inc.
SERVICER: RBMG, Inc.
SUB-SERVICER: Ocwen Federal Bank FSB.
SECURITIES OFFERED:
SECURITIES CLASS A-1 CLASS A-2
---------- --------- ---------
Amount: $85,000,000 $40,000,000
Security Type: Floating-rate Floating-rate
Cut-Off Date: November 1, 1999 November 1, 1999
Index: One month LIBOR One month LIBOR
Prepayment Assumptions (PPA): 100% PPA equals 100% PPA equals
27% CPR for Adjustable Rate 27% CPR for Adjustable Rate
Pool Pool
25% HEP for Fixed Rate Pool 25% HEP for Fixed Rate Pool
Average Life to Call: 2.679 years 2.658 years
Average Life to Maturity: 2.946 years 2.919 years
Expected Call Date: 12/25/06 12/25/06
Expected Maturity Date: 01/25/16 02/25/16
Expected Coupon: One month LIBOR + TBD One month LIBOR + TBD
Stated Maturity Date: 12/25/30 12/25/30
Payment Date: 25th of each month 25th of each month
Payment Delay: Zero Zero
Dated Date: Settlement Date Settlement Date
Day Count: Actual/360 Actual/360
Pricing Date: TBD TBD
Settlement Date (Expected) November 30, 1999 November 30, 1999
First Payment Date December 27, 1999 December 27, 1999
Ratings (S&P/Moody's) AAA/Aaa AAA/Aaa
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 3
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DESCRIPTION OF THE NOTES: The Class A-1 Notes and the Class A-2 Notes
(the "Notes") will be secured by the assets
of the Trust created by the Indenture. The
assets of the Trust will consist primarily
of (i) a pool of two groups (each a "Group)
of fixed rate and adjustable rate mortgage
loans (the "Mortgage Loans"); (ii) all
payments in respect of principal and
interest on the Mortgage Loans (other than
any principal or interest payments due on or
prior to the Cut-off Date); (iii) the
Issuer's rights under the Sponsor Sale
Agreement and the Servicing Agreement; (iv)
the Issuer's rights under the Sponsor Sale
Agreement and the Servicing Agreement; (v)
the rights of the Indenture Trustee under
the Insurance Policy; and (vi) certain other
property.
Although the Trust will hold an Interest
Rate Cap Agreement, any payments received
under the cap agreement are not available to
increase the Available Funds Cap Rate on the
Notes, or to "uncap" the Notes. The Interest
Rate Cap Agreement is to meet Ambac's credit
enhancement requirement for the transaction
only.
Two classes (each, a "Class") of Notes will
be issued. The Class A-1 Notes will be
secured by Mortgage Loans in Group I ("the
Group I Mortgage Loans") and the Class A-2
Notes will be secured by the Group II
Mortgage Loans ("the Group II Mortgage
Loans"). Payments on the Class A-1 Notes
will be made generally from Available Funds
for Group I and payments on the Class A-2
Notes will be made generally from Available
Funds for Group II.
SERVICING FEE: 44 basis points per annum.
INDENTURE TRUSTEE: Banker's Trust Company
INDENTURE TRUSTEE FEE: 1.50 basis points per annum.
OWNER TRUSTEE: Wilmington Trust Company, a Delaware Banking
corporation.
DENOMINATIONS: Minimum denominations of $1,000 and in
integral multiples thereof.
FORM OF NOTES: Book-Entry Form, delivered through the
facilities of DTC, Cedel, and Euroclear
against payment in immediately available
funds.
RECORD DATE: Last business day preceding the Payment Date.
NOTE INSURER: AMBAC Assurance Corporation ("Ambac"), rated
AAA/Aaa/AAA by S&P, Moody's and Fitch.
NOTE INSURANCE POLICY: Timely payment of interest and ultimate
payment of principal on the Notes will be
guaranteed by AMBAC.
CREDIT ENHANCEMENT: (a) Excess servicing cash flows
(b) Overcollateralization
(c) Note Insurance Policy
(d) Interest Rate Cap Agreement
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 4
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PAYMENTS ON THE NOTES: Payments on each Class of Notes will be made on
each Payment Date to each Noteholder of record as
of the last Business Day preceding such Payment
Date or, with respect to Definitive Notes, as of
the last Business Day of the month preceding the
month in which such Payment Date occurs.
On each Payment Date, each Class of Notes,
as of the related Record Date, will be
entitled to payments in respect of principal
and interest from Available Funds for such
Payment Date, together with any payments
received under the Insurance Policy.
DUE PERIOD: With respect to each Class of Notes and any
Payment Date, the period commencing on the second
day of the calendar month preceding the calendar
month in which such Payment Date occurs and ending
on the first day of the calendar month in which
such Payment Date occurs.
COLLECTION PERIOD: With respect to each Class of Notes and any
Payment Date, the calendar month preceding
the month in which such Payment Date occurs.
PAYMENTS AHEAD: Any payment of one or more scheduled monthly
payments remitted by a mortgagor in excess
of the scheduled monthly payment during the
related Due Period.
AVAILABLE FUNDS: With respect to each Group of Mortgage Loans
and any Payment Date, The Available Funds
will generally consist of the aggregate of
the following amounts:
(i) the sum of (a) all scheduled payments of
principal and interest received with respect
to the Mortgage Loans and due during the
related Due Period and (b) all unscheduled
principal payments or recoveries on the
Mortgage Loans, including principal
prepayments, received during the related
Collection Period, minus (w) amounts
received with respect to payments due on or
prior to the applicable Cut-off Date, (x)
the Administrative Fee Amount payable with
respect to such Payment Date, (y) Payments
Ahead and (z) reimbursements for certain P&I
Advances and Servicing Advances made with
respect to the Mortgage Loans and certain
other amounts for which the Indenture
Trustee, the Servicer and the Issuer are
permitted to be reimbursed;
(ii) the amount of any P&I Advances and
Compensating Interest Payments made by the
Servicer for such Payment Date, any amounts
deposited in the Note Account in respect of
the repurchase, release, removal or
substitution of Mortgage Loans during the
related Collection Period or amounts
deposited in the Note Account in connection
with the redemption of the Notes;
(iii) the amount of any payments received
for such Payment Date under the Interest
Rate Cap Agreement held by the Indenture
Trustee.
ADMINISTRATIVE FEE AMOUNT: With respect to each Group of Mortgage Loans
and any Payment Date, the sum of the
Servicing Fee, the Indenture Trustee Fee,
and the Note Insurer Premium.
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 5
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INTEREST CARRY-FORWARD: (a) If, on any Payment Date, the Available
Funds Cap Rate (as defined below) for the
related Class of Notes limits the payment of
the full interest rate on the related Class,
the amount of any such shortfall will be
carried forward and be due and payable to
the Noteholder of the related Class on the
following Payment Date and shall accrue
interest at the note interest rate until
paid (the "Available Funds Cap Carry Forward
Amount") .
(b) The payment of this Available Funds Cap
Carry Forward Amount would be made in future
periods from the excess cash flows.
(c) The Note Insurer does not cover the
Available Funds Cap Carry Forward Amount.
AVAILABLE FUNDS CAP RATE: The Available Funds Cap Rate with respect to
each Class of Notes for any payment date is
a rate per annum equal to the fraction,
expressed as a percentage, the numerator of
which is (i) an amount equal to (A) 1/12 of
the aggregate scheduled principal balance of
the then outstanding Mortgage Loans and REO
properties in the related Group times the
weighted average of the Expense Adjusted
Coupon Rates on the then outstanding
Mortgage Loans and REO properties in such
Group minus (B) the amount of the Note
Insurer premium for such payment date
allocable to such Group, and the denominator
of which is (ii) an amount equal to (A) the
then outstanding aggregate Note Balance
multiplied by (B) the actual number of days
elapsed in the related interest period
divided by 360. Payments received by the
Indenture Trustee under the Interest Rate
Cap Agreement do not increase the Available
Funds Cap Rate.
"Note Balance" with respect to a Class will
equal as of any Payment Date, the Original
Note Balance as of the date of issuance of
the Notes less all related Monthly Principal
and Excess Cash paid to the respective
Noteholders on previous Payment Dates.
The Expense Adjusted Coupon Rate on any
Mortgage Loan is equal to the then
applicable coupon rate minus the sum of (i)
the Minimum Spread, (ii) the Servicing Fee
Rate, and (iii) the Indenture Trustee Fee.
For any Payment Date occurring from the
Closing Date through and including the
twelfth Payment Date, the Minimum Spread is
equal to 0.00% per annum. For any Payment
Date occurring after the twelfth Payment
Date the Minimum Spread is equal to 0.50%
per annum. For any Payment Date for so long
as the Servicer is the servicer, the
Servicing Fee Rate is equal to 0.44% per
annum; PROVIDED, HOWEVER, that the Servicing
Fee Rate may increase up to 0.50% per annum
if it is necessary to appoint a successor
Servicer or a successor Sub-Servicer.
PAYMENTS OF PRINCIPAL: On each Payment Date, the Noteholders of a
Class of Notes will be entitled to payments
of Monthly Principal in reduction of the
Note Balance.
MONTHLY PRINCIPAL
The Monthly Principal with respect to each
Class of Notes and for any Payment Date will
be equal to the lesser of (a) the excess of
related Available Funds over the amounts
described in clauses (i), (ii) and (iii) of
the definition of Excess Cash below, and (b)
the aggregate of all scheduled payments of
principal received or advanced with respect
to the Mortgage Loans in the related Group
and due during the related Due Period and
all other amounts collected, received
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 6
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or otherwise recovered in respect of
principal on such Mortgage Loans during or
in respect of the related Collection Period,
not including Payments Ahead, subject to
reduction for any Overcollateralization
Surplus with respect to such Class and the
related Payment Date.
PAYMENTS OF EXCESS CASH: With respect to each Class of Notes and each
Payment Date on which the
Overcollateralization Amount for the Notes
is less than the Required
Overcollateralization Amount for such
Payment Date, Excess Cash derived from
Available Funds, if any, will be paid on the
related Class of Notes in reduction of the
Note Balance, up to the amount necessary for
the related Overcollateralization Amount to
equal the applicable Required
Overcollateralization Amount
"Excess Cash" with respect to a Group on any
Payment Date will be equal to Available
Funds for such Group and Payment Date,
reduced by the sum of (i) any amounts
payable to the Note Insurer for Insured
Payments with respect to either Group paid
on prior Payment Dates and not yet
reimbursed and for any unpaid Note Insurer
Premiums for such Group on prior Payment
Dates (in each case with interest thereon at
the Late Payment Rate as defined and set
forth in the Insurance Agreement), (ii) the
Note Interest for the related Note and
Payment Date (and to the extent not covered
by Available Funds for the other Group, such
amounts with respect to the other Group),
(iii) any amounts payable for any
Overcollateralization Deficit for the other
Class; and (iv) the Monthly Principal for
the related Class and Payment Date.
The Insurance Policy does not cover the
Available Funds Cap Carry Forward Amount,
Prepayment Interest Shortfalls or shortfalls
in interest due to the application of the
Relief Act; the payment of such amounts may
be funded only from (a) any excess interest
resulting from the Available Funds Cap Rate
being in excess of the applicable Interest
Rate on future Payment Dates and (b) any
Excess Cash for either Group that would
otherwise be paid to the holder(s) of the
Residual Interest.
Any Excess Cash remaining after making
required payments on each Class of Notes and
to the Note Insurer on any Payment Date as
described herein will be released to the
holder(s) of the Residual Interest on such
Payment Date, free from the lien of the
Indenture.
OPTIONAL REDEMPTION: Each Class of Notes may be redeemed, in full
but not in part, at the option of the
Servicer or the Note Insurer, on or after
the Payment Date on which the combined
principal balance of the Notes has declined
to less than 10% of the outstanding Note
Balance as of the Settlement Date.
COUPON STEP-UP: If the Class A-1 Notes are not redeemed
pursuant to the Optional Redemption, the
coupon on the Notes will be set at the
lesser of (a) one month LIBOR plus [xx]
basis points and (b) the related Available
Funds Cap Rate.
If the Class A-2 Notes are not redeemed
pursuant to the Optional Redemption, the
coupon on the Notes will be set at the
lesser of (a) one month LIBOR plus [xx]
basis points and (b) the related Available
Funds Cap Rate.
INTEREST PERIOD: Interest will accrue on each of the Notes
from each Payment Date to and including the
day preceding the next Payment Date. For the
first Payment Date,
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 7
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interest will accrue from and including the
closing date to, but not including the first
Payment Date.
COMPENSATING INTEREST
PAYMENTS: With respect to any Mortgage Loan in each Group as
to which a prepayment in whole or in part was
received during the related Collection Period, the
Servicer will be required to remit to the
Indenture Trustee, up to the amount otherwise
payable to the Servicer as its servicing
compensation for the related Payment Date, an
amount generally calculated to cover Prepayment
Interest Shortfalls to ensure that a full month's
interest on each such Mortgage Loan is available
for payment to the related Noteholders on the
applicable Payment Date. Compensating Interest
Payments are not reimbursable to the Servicer. The
Note Insurer is not required to cover any
Prepayment Interest Shortfalls.
LEGAL INVESTMENT
CONSIDERATIONS: The Notes are SMMEA eligible securities.
ERISA CONSIDERATIONS: The Issuer believes that the Notes are ERISA
eligible, subject to individual Plan account
restrictions. Accordingly, any Plan fiduciary
considering whether to purchase any Notes on
behalf of a Plan should consult with its counsel
prior to purchase of such Notes.
TAXATION: The Notes will be treated as debt obligations of
the Issuer. No REMIC election will be made.
NOTE RATINGS: AAA/Aaa by S&P and Moody's
WEIGHTED AVERAGE LIFE (WAL) AND
PAYMENT WINDOWS TABLE
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TO CALL (10%)
PPA* 0 50 75 100 125 150
CLASS A1 NOTE
WAL (in years) 20.424 5.496 3.653 2.679 2.075 1.661
FIRST PAY 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99
LAST PAY 11/25/28 04/25/14 07/25/09 12/25/06 05/25/05 04/25/04
CLASS A2 NOTE
WAL (in years) 20.626 5.466 3.630 2.658 2.057 1.643
FIRST PAY 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99
LAST PAY 11/25/28 04/25/14 07/25/09 12/25/06 05/25/05 04/25/04
TO MATURITY
PPA* 0 50 75 100 125 150
CLASS A1 NOTE
WAL (in years) 20.464 5.925 4.003 2.946 2.281 1.824
FIRST PAY 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99
LAST PAY 09/25/29 03/25/27 04/25/21 01/25/16 09/25/12 03/25/10
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 8
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CLASS A2 NOTE
WAL (in years) 20.667 5.903 3.976 2.919 2.256 1.801
FIRST PAY 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99 12/27/99
LAST PAY 10/25/29 03/25/27 05/25/21 02/25/16 08/25/12 02/25/10
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*100 PERCENT PREPAYMENT ASSUMPTION (PPA) REPRESENTS 27% CPR FOR THE
ARM COLLATERAL, AND 25% HEP FOR THE FIXED COLLATERAL. 25% HEP EQUALS
2.5% CPR IN MONTH 1 OF THE LIFE OF A LOAN, INCREASING EACH MONTH BY
2.5% CPR UNTIL MONTH 10 AND REMAINING CONSTANT AT 25% CPR THEREAFTER.
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FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 9
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CLASS A-1 AVAILABLE FUNDS CAP RATE*
TO CALL (10%)
PERIOD DATE AFC RATE PERIOD DATE AFC RATE
------ ---- -------- ------ ---- --------
1 12/27/99 11.02% 44 7/25/03 12.22%
2 1/25/00 8.92% 45 8/25/03 11.82%
3 2/25/00 8.95% 46 9/25/03 11.82%
4 3/25/00 9.60% 47 10/25/03 12.22%
5 4/25/00 9.01% 48 11/25/03 11.82%
6 5/25/00 9.35% 49 12/25/03 12.21%
7 6/25/00 9.08% 50 1/25/04 11.82%
8 7/25/00 9.42% 51 2/25/04 11.82%
9 8/25/00 9.15% 52 3/25/04 12.63%
10 9/25/00 9.18% 53 4/25/04 11.82%
11 10/25/00 9.53% 54 5/25/04 12.21%
12 11/25/00 9.26% 55 6/25/04 11.82%
13 12/25/00 9.09% 56 7/25/04 12.21%
14 1/25/01 8.83% 57 8/25/04 11.82%
15 2/25/01 8.87% 58 9/25/04 11.82%
16 3/25/01 9.87% 59 10/25/04 12.21%
17 4/25/01 8.96% 60 11/25/04 11.82%
18 5/25/01 9.31% 61 12/25/04 12.21%
19 6/25/01 9.06% 62 1/25/05 11.81%
20 7/25/01 9.41% 63 2/25/05 11.81%
21 8/25/01 9.16% 64 3/25/05 13.08%
22 9/25/01 9.22% 65 4/25/05 11.81%
23 10/25/01 10.28% 66 5/25/05 12.21%
24 11/25/01 9.97% 67 6/25/05 11.81%
25 12/25/01 10.52% 68 7/25/05 12.20%
26 1/25/02 10.21% 69 8/25/05 11.81%
27 2/25/02 10.24% 70 9/25/05 11.81%
28 3/25/02 11.37% 71 10/25/05 12.20%
29 4/25/02 10.30% 72 11/25/05 11.81%
30 5/25/02 10.68% 73 12/25/05 12.20%
31 6/25/02 10.37% 74 1/25/06 11.81%
32 7/25/02 10.75% 75 2/25/06 11.81%
33 8/25/02 10.44% 76 3/25/06 13.07%
34 9/25/02 10.48% 77 4/25/06 11.81%
35 10/25/02 12.17% 78 5/25/06 12.20%
36 11/25/02 11.82% 79 6/25/06 11.81%
37 12/25/02 12.61% 80 7/25/06 12.20%
38 1/25/03 11.88% 81 8/25/06 11.80%
39 2/25/03 11.83% 82 9/25/06 11.80%
40 3/25/03 13.09% 83 10/25/06 12.20%
41 4/25/03 11.83% 84 11/25/06 11.80%
42 5/25/03 12.22% 85 12/25/06 12.20%
43 6/25/03 11.82%
*Derived assuming six-month LIBOR and one-year CMT remain constant at 6.015% and
5.550%, respectively using 100% of the PPA.
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 10
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CLASS A-2 AVAILABLE FUNDS CAP RATE*
TO CALL (10%)
PERIOD DATE AFC RATE PERIOD DATE AFC RATE
------ ---- -------- ------ ---- --------
1 12/27/99 11.05% 44 7/25/03 12.30%
2 1/25/00 8.94% 45 8/25/03 11.91%
3 2/25/00 8.99% 46 9/25/03 11.91%
4 3/25/00 9.64% 47 10/25/03 12.30%
5 4/25/00 9.05% 48 11/25/03 11.90%
6 5/25/00 9.38% 49 12/25/03 12.30%
7 6/25/00 9.11% 50 1/25/04 11.90%
8 7/25/00 9.45% 51 2/25/04 11.90%
9 8/25/00 9.20% 52 3/25/04 12.72%
10 9/25/00 9.24% 53 4/25/04 11.90%
11 10/25/00 9.58% 54 5/25/04 12.30%
12 11/25/00 9.31% 55 6/25/04 11.90%
13 12/25/00 9.14% 56 7/25/04 12.30%
14 1/25/01 8.89% 57 8/25/04 11.90%
15 2/25/01 8.93% 58 9/25/04 11.90%
16 3/25/01 9.94% 59 10/25/04 12.30%
17 4/25/01 9.02% 60 11/25/04 11.90%
18 5/25/01 9.37% 61 12/25/04 12.30%
19 6/25/01 9.12% 62 1/25/05 11.90%
20 7/25/01 9.47% 63 2/25/05 11.90%
21 8/25/01 9.22% 64 3/25/05 13.17%
22 9/25/01 9.95% 65 4/25/05 11.90%
23 10/25/01 10.32% 66 5/25/05 12.29%
24 11/25/01 10.02% 67 6/25/05 11.90%
25 12/25/01 10.64% 68 7/25/05 12.29%
26 1/25/02 10.33% 69 8/25/05 11.90%
27 2/25/02 10.36% 70 9/25/05 11.90%
28 3/25/02 11.50% 71 10/25/05 12.29%
29 4/25/02 10.42% 72 11/25/05 11.90%
30 5/25/02 10.80% 73 12/25/05 12.29%
31 6/25/02 10.49% 74 1/25/06 11.89%
32 7/25/02 10.87% 75 2/25/06 11.89%
33 8/25/02 10.57% 76 3/25/06 13.17%
34 9/25/02 10.60% 77 4/25/06 11.89%
35 10/25/02 12.18% 78 5/25/06 12.29%
36 11/25/02 11.83% 79 6/25/06 11.89%
37 12/25/02 12.72% 80 7/25/06 12.29%
38 1/25/03 11.98% 81 8/25/06 11.89%
39 2/25/03 11.91% 82 9/25/06 11.89%
40 3/25/03 13.18% 83 10/25/06 12.29%
41 4/25/03 11.91% 84 11/25/06 11.89%
42 5/25/03 12.30% 85 12/25/06 12.29%
43 6/25/03 11.91%
*Derived assuming six-month LIBOR and one-year CMT remain constant at 6.015% and
5.550%, respectively using 100% of the PPA.
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 11
- - --------------------------------------------------------------------------------
CLASS A-1 AVAILABLE FUNDS CAP RATE*
TO CALL (10%)
PERIOD DATE AFC RATE PERIOD DATE AFC RATE
------ ---- -------- ------ ---- --------
1 12/27/99 11.02% 44 7/25/03 14.68%
2 1/25/00 8.92% 45 8/25/03 14.21%
3 2/25/00 8.95% 46 9/25/03 14.21%
4 3/25/00 9.60% 47 10/25/03 15.38%
5 4/25/00 9.02% 48 11/25/03 14.89%
6 5/25/00 9.35% 49 12/25/03 15.57%
7 6/25/00 9.08% 50 1/25/04 15.06%
8 7/25/00 9.42% 51 2/25/04 15.06%
9 8/25/00 9.15% 52 3/25/04 16.10%
10 9/25/00 9.19% 53 4/25/04 15.51%
11 10/25/00 9.53% 54 5/25/04 16.03%
12 11/25/00 9.26% 55 6/25/04 15.63%
13 12/25/00 9.09% 56 7/25/04 16.15%
14 1/25/01 8.84% 57 8/25/04 15.63%
15 2/25/01 8.88% 58 9/25/04 15.62%
16 3/25/01 9.88% 59 10/25/04 16.14%
17 4/25/01 8.97% 60 11/25/04 15.62%
18 5/25/01 9.32% 61 12/25/04 16.14%
19 6/25/01 9.07% 62 1/25/05 15.62%
20 7/25/01 9.43% 63 2/25/05 15.62%
21 8/25/01 9.18% 64 3/25/05 17.29%
22 9/25/01 9.24% 65 4/25/05 15.61%
23 10/25/01 10.34% 66 5/25/05 16.13%
24 11/25/01 10.04% 67 6/25/05 15.61%
25 12/25/01 10.60% 68 7/25/05 16.13%
26 1/25/02 10.29% 69 8/25/05 15.61%
27 2/25/02 10.32% 70 9/25/05 15.61%
28 3/25/02 11.47% 71 10/25/05 16.12%
29 4/25/02 10.76% 72 11/25/05 15.60%
30 5/25/02 11.16% 73 12/25/05 16.12%
31 6/25/02 10.93% 74 1/25/06 15.60%
32 7/25/02 11.33% 75 2/25/06 15.60%
33 8/25/02 11.01% 76 3/25/06 17.27%
34 9/25/02 11.05% 77 4/25/06 15.60%
35 10/25/02 13.31% 78 5/25/06 16.11%
36 11/25/02 12.92% 79 6/25/06 15.59%
37 12/25/02 13.89% 80 7/25/06 16.11%
38 1/25/03 13.09% 81 8/25/06 15.59%
39 2/25/03 13.03% 82 9/25/06 15.59%
40 3/25/03 14.43% 83 10/25/06 16.11%
41 4/25/03 13.96% 84 11/25/06 15.59%
42 5/25/03 14.43% 85 12/25/06 16.10%
43 6/25/03 14.21%
*Derived assuming six-month LIBOR and one-year CMT increase to a level beyond
the highest maximum attainable rate on the underlying adjustable rate mortgage
loans using 100% of the PPA.
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 12
- - --------------------------------------------------------------------------------
CLASS A-2 AVAILABLE FUNDS CAP RATE*
TO CALL (10%)
PERIOD DATE AFC RATE PERIOD DATE AFC RATE
------ ---- -------- ------ ---- --------
1 12/27/99 11.05% 44 7/25/03 15.10%
2 1/25/00 8.94% 45 8/25/03 14.62%
3 2/25/00 8.99% 46 9/25/03 14.62%
4 3/25/00 9.64% 47 10/25/03 15.78%
5 4/25/00 9.05% 48 11/25/03 15.27%
6 5/25/00 9.38% 49 12/25/03 16.03%
7 6/25/00 9.11% 50 1/25/04 15.51%
8 7/25/00 9.45% 51 2/25/04 15.51%
9 8/25/00 9.21% 52 3/25/04 16.58%
10 9/25/00 9.24% 53 4/25/04 15.95%
11 10/25/00 9.58% 54 5/25/04 16.48%
12 11/25/00 9.31% 55 6/25/04 16.11%
13 12/25/00 9.14% 56 7/25/04 16.64%
14 1/25/01 8.89% 57 8/25/04 16.11%
15 2/25/01 8.95% 58 9/25/04 16.10%
16 3/25/01 9.96% 59 10/25/04 16.64%
17 4/25/01 9.04% 60 11/25/04 16.10%
18 5/25/01 9.39% 61 12/25/04 16.64%
19 6/25/01 9.14% 62 1/25/05 16.10%
20 7/25/01 9.50% 63 2/25/05 16.10%
21 8/25/01 9.27% 64 3/25/05 17.82%
22 9/25/01 10.07% 65 4/25/05 16.10%
23 10/25/01 10.44% 66 5/25/05 16.63%
24 11/25/01 10.13% 67 6/25/05 16.10%
25 12/25/01 10.79% 68 7/25/05 16.63%
26 1/25/02 10.47% 69 8/25/05 16.09%
27 2/25/02 10.51% 70 9/25/05 16.09%
28 3/25/02 12.09% 71 10/25/05 16.63%
29 4/25/02 10.96% 72 11/25/05 16.09%
30 5/25/02 11.36% 73 12/25/05 16.63%
31 6/25/02 11.17% 74 1/25/06 16.09%
32 7/25/02 11.58% 75 2/25/06 16.09%
33 8/25/02 11.25% 76 3/25/06 17.81%
34 9/25/02 11.68% 77 4/25/06 16.09%
35 10/25/02 13.50% 78 5/25/06 16.62%
36 11/25/02 13.11% 79 6/25/06 16.09%
37 12/25/02 14.27% 80 7/25/06 16.62%
38 1/25/03 13.45% 81 8/25/06 16.08%
39 2/25/03 13.37% 82 9/25/06 16.08%
40 3/25/03 15.08% 83 10/25/06 16.62%
41 4/25/03 14.28% 84 11/25/06 16.08%
42 5/25/03 14.75% 85 12/25/06 16.62%
43 6/25/03 14.61%
*Derived assuming six-month LIBOR and one-year CMT increase to a level beyond
the highest maximum attainable rate on the underlying adjustable rate mortgage
loans using 100% of the PPA.
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 13
- - --------------------------------------------------------------------------------
Summary of Characteristics of the Group I Mortgage Loans
Number of Mortgage Loans 642
Principal Balance
Aggregate Principal Balance $69,955,390.15
Average Principal Balance $108,964.78
Range of Principal Balances $15,194.43 - $239,769.12
Coupon Rates
Weighted Average Coupon Rate 9.871%
Range of Coupon Rates 7.625% - 13.990%
Remaining Term to Maturity
Weighted Average Remaining Term to Maturity 342.65 months
Range of Remaining Term to Maturity 174 - 359 months
Loan-to-Value Ratio
Weighted Average Loan-to-Value Ratio 78.53%
Range of Loan-to-Value Ratios 24.89% - 97.00%
Percentage of First Lien Mortgage Loans 100.00%
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 14
- - --------------------------------------------------------------------------------
Summary of Characteristics of the Group II Mortgage Loans
Number of Mortgage Loans 279
Principal Balance
Aggregate Principal Balance $30,276,432.22
Average Principal Balance $108,517.68
Range of Principal Balances $11,994.09 - $422,403.11
Coupon Rates
Weighted Average Coupon Rate 9.870%
Range of Coupon Rates 7.625% - 13.750%
Remaining Term to Maturity
Weighted Average Remaining Term to Maturity 346.71 months
Range of Remaining Term to Maturity 173 - 359 months
Loan-to-Value Ratio
Weighted Average Loan-to-Value Ratio 77.56%
Range of Loan-to-Value Ratios 11.03% - 96.50%
Percentage of First Lien Mortgage Loans 100.00%
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 15
- - --------------------------------------------------------------------------------
Group I Adjustable Rate Loans
All Adjustable Rate Loans
----------------------------------
Number of Group I Adjustable Rate Loans 490
Percentage of All Group I Mortgage Loans 76.32%
(by number of loans)
Aggregate Principal Balance $58,072,273.11
Percentage of All Group I Mortgage Loans 83.01%
(by aggregate principal balance)
Principal Balance of Mortgage Loans as of the Cut-Off Date
Average $118,514.84
Range $22,664.38 - $239,769.12
Coupon Rates
Weighted Average 9.715%
Range 7.625% - 12.990%
Remaining Term to Maturity
(in months)
Weighted Average 357.67
Range 317 - 359
Loan-to-Value Ratio at Origination
Weighted Average 78.55%
Range 24.89% - 97.00%
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 16
- - --------------------------------------------------------------------------------
Group I Fixed Rate Loans
All Fixed Rate Loans
----------------------------------
Number of Group I Fixed Rate Loans 152
Percentage of All Group I Mortgage Loans 23.68%
(by number of loans)
Aggregate Principal Balance $11,883,117.04
Percentage of All Group I Mortgage Loans 16.99%
(by aggregate principal balance)
Principal Balance of Mortgage Loans as of the Cut-Off Date
Average $78,178.40
Range $15,194.43 - $211,526.40
Coupon Rates
Weighted Average 10.632%
Range 8.990% - 13.990%
Remaining Term to Maturity
(in months)
Weighted Average 269.28
Range 174 - 359
Loan-to-Value Ratio at Origination
Weighted Average 78.40%
Range 30.68% - 90.00%
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 17
- - --------------------------------------------------------------------------------
MORTGAGE RATES OF THE GROUP I FIXED RATE LOANS
Percentage of Group I
Fixed Rate Loans by
Number of Fixed Rate Aggregate
Range of Mortgage Rates (%) Loans Aggregate Principal Balance Principal Balance
--------------------------- ----- --------------------------- -----------------
8.501 - 9.000 2 $ 156,469.59 1.32 %
9.001 - 9.500 8 980,879.10 8.25
9.501 - 10.000 17 1,629,696.34 13.71
10.001 - 10.500 45 3,868,576.05 32.56
10.501 - 11.000 30 2,065,667.90 17.38
11.001 - 11.500 20 1,345,955.80 11.33
11.501 - 12.000 13 841,908.23 7.08
12.001 - 12.500 7 347,712.58 2.93
12.501 - 13.000 8 549,037.84 4.62
13.001 - 13.500 1 51,788.80 0.44
13.501 - 14.000 1 45,424.81 0.38
- --------- ----
Totals 152 $ 11,883,117.04 100.00 %
=== ============= ======
PRINCIPAL BALANCES OF THE GROUP I FIXED RATE LOANS
Percentage of Group I
Fixed Rate Loans by
Number of Fixed Rate Aggregate
Range of Principal Balances ($) Loans Aggregate Principal Balance Principal Balance
- - ------------------------------- ----- --------------------------- -----------------
15,000.01 - 25,000.00 2 $ 36,514.70 0.31 %
25,000.01 - 50,000.00 40 1,756,764.64 14.78
50,000.01 - 75,000.00 49 2,993,366.63 25.19
75,000.01 - 100,000.00 32 2,778,669.17 23.38
100,000.01 - 125,000.00 9 1,015,714.46 8.55
125,000.01 - 150,000.00 7 956,257.64 8.05
150,000.01 - 175,000.00 5 794,907.75 6.69
175,000.01 - 200,000.00 5 922,408.81 7.76
200,000.01 - 225,000.00 3 628,513.24 5.29
- ---------- ----
Totals 152 $ 11,883,117.04 100.00 %
=== ============= ======
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 18
- - --------------------------------------------------------------------------------
REMAINING TERMS TO MATURITY OF THE GROUP I FIXED RATE LOANS
Percentage of Group I
Fixed Rate Loans by
Number of Fixed Rate Aggregate
Remaining Term (months) Loans Aggregate Principal Balance Principal Balance
- - ----------------------- ----- --------------------------- -----------------
171 - 175 8 $ 611,790.33 5.15 %
176 - 180 73 5,171,498.95 43.52
236 - 240 2 99,444.64 0.84
351 - 355 8 608,100.66 5.12
356 3 194,762.05 1.64
357 6 483,217.68 4.07
358 30 3,001,274.37 25.26
359 22 1,713,028.36 14.42
-- ------------ -----
Totals 152 $ 11,883,117.04 100.00 %
=== ============= ======
MORTGAGE RATES OF THE GROUP I ADJUSTABLE RATE LOANS
Percentage of Group I
Adjustable Rate Loans
Number of Adjustable by Aggregate Principal
Range of Mortgage Rates (%) Rate Loans Aggregate Principal Balance Balance
- - --------------------------- ------------------ --------------------------- -------
7.501 - 8.000 3 $ 270,959.62 0.47 %
8.001 - 8.500 82 10,734,740.78 18.49
8.501 - 9.000 69 8,146,470.09 14.03
9.001 - 9.500 62 7,626,875.99 13.13
9.501 - 10.000 95 11,603,139.19 19.98
10.001 - 10.500 64 7,932,577.08 13.66
10.501 - 11.000 64 6,598,119.16 11.36
11.001 - 11.500 27 2,645,193.84 4.56
11.501 - 12.000 14 1,369,797.45 2.36
12.001 - 12.500 6 603,699.59 1.04
12.501 - 13.000 4 540,700.32 0.93
- ---------- ----
Totals 490 $ 58,072,273.11 100.00 %
=== ============= ======
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 19
- - --------------------------------------------------------------------------------
PRINCIPAL BALANCES OF THE GROUP I ADJUSTABLE RATE LOANS
Percentage of Group I
Adjustable Rate Loans
Number of Adjustable by Aggregate
Range of Principal Balances ($) Rate Loans Aggregate Principal Balance Principal Balance
------------------------------- ----------------- --------------------------- -----------------
15,000.01 - 25,000.00 3 $ 71,997.12 0.12 %
25,000.01 - 50,000.00 22 753,516.80 1.30
50,000.01 - 75,000.00 47 3,252,155.62 5.60
75,000.01 - 100,000.00 136 12,087,368.93 20.81
100,000.01 - 125,000.00 102 11,543,044.07 19.88
125,000.01 - 150,000.00 61 8,426,088.91 14.51
150,000.01 - 175,000.00 53 8,546,870.98 14.72
175,000.01 - 200,000.00 34 6,337,177.77 10.91
200,000.01 - 225,000.00 22 4,727,173.96 8.14
225,000.01 - 250,000.00 10 2,326,878.95 4.01
-- ------------ ----
Totals 490 $ 58,072,273.11 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 20
- - --------------------------------------------------------------------------------
REMAINING TERMS TO MATURITY OF THE GROUP I ADJUSTABLE RATE LOANS
Percentage of Group I
Adjustable Rate Loans
Number of Adjustable by Aggregate
Remaining Term (months) Rate Loans Aggregate Principal Balance Principal Balance
----------------------- --------------------- --------------------------- -----------------
316 - 320 1 $ 92,876.11 0.16 %
321 - 325 1 95,858.30 0.17
326 - 330 1 82,225.21 0.14
341 - 345 2 163,233.16 0.28
351 - 355 40 4,197,940.28 7.23
356 29 3,278,287.53 5.65
357 38 4,914,986.95 8.46
358 205 25,178,331.03 43.36
359 173 20,068,534.54 34.56
--- ------------- -----
Totals 490 $ 58,072,273.11 100.00 %
=== ============= ======
GROSS MARGINS OF THE GROUP I ADJUSTABLE RATE LOANS
Percentage of Group I
Adjustable Rate Loans
Number of Adjustable by Aggregate
Range of Gross Margins (%) Rate Loans Aggregate Principal Balance Principal Balance
-------------------------- ----------------- --------------------------- -----------------
2.501 - 3.000 3 $ 270,959.62 0.47 %
5.001 - 5.500 2 255,808.74 0.44
5.501 - 6.000 152 19,208,445.75 33.08
6.001 - 6.500 104 12,328,877.56 21.23
6.501 - 7.000 146 17,028,894.39 29.32
7.001 - 7.500 59 6,469,919.04 11.14
7.501 - 8.000 21 2,224,723.38 3.83
8.001 - 8.500 3 284,644.63 0.49
- ---------- ----
Totals 490 $ 58,072,273.11 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 21
- - --------------------------------------------------------------------------------
MAXIMUM RATES OF THE GROUP I ADJUSTABLE RATE LOANS
Percentage of Group I
Adjustable Rate Loans by
Number of Adjustable Aggregate
Range of Maximum Rates (%) Rate Loans Aggregate Principal Balance Principal Balance
- - -------------------------- -------------------- --------------------------- -----------------
10.501 - 11.000 1 $ 92,876.11 0.16 %
11.001 - 11.500 1 82,225.21 0.14
11.501 - 12.000 1 95,858.30 0.17
15.001 - 15.500 82 10,734,740.78 18.49
15.501 - 16.000 69 8,146,470.09 14.03
16.001 - 16.500 62 7,626,875.99 13.13
16.501 - 17.000 95 11,603,139.19 19.98
17.001 - 17.500 64 7,932,577.08 13.66
17.501 - 18.000 64 6,598,119.16 11.36
18.001 - 18.500 27 2,645,193.84 4.56
18.501 - 19.000 14 1,369,797.45 2.36
19.001 - 19.500 6 603,699.59 1.04
19.501 - 20.000 4 540,700.32 0.93
- ---------- ----
Totals 490 $ 58,072,273.11 100.00 %
=== ============= ======
MINIMUM RATES OF THE GROUP I ADJUSTABLE RATE LOANS
Percentage of Group I
Adjustable Rate Loans by
Number of Adjustable Aggregate
Range of Minimum Rates (%) Rate Loans Aggregate Principal Balance Principal Balance
-------------------------- --------------- --------------------------- -----------------
5.501 - 6.000 1 $ 92,876.11 0.16 %
6.001 - 6.500 1 82,225.21 0.14
6.501 - 7.000 1 95,858.30 0.17
8.001 - 8.500 82 10,734,740.78 18.49
8.501 - 9.000 69 8,146,470.09 14.03
9.001 - 9.500 62 7,626,875.99 13.13
9.501 - 10.000 95 11,603,139.19 19.98
10.001 - 10.500 64 7,932,577.08 13.66
10.501 - 11.000 64 6,598,119.16 11.36
11.001 - 11.500 27 2,645,193.84 4.56
11.501 - 12.000 14 1,369,797.45 2.36
12.001 - 12.500 6 603,699.59 1.04
12.501 - 13.000 4 540,700.32 0.93
- ---------- ----
Totals 490 $ 58,072,273.11 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 22
- - --------------------------------------------------------------------------------
NEXT INTEREST ADJUSTMENT DATE OF THE GROUP I ADJUSTABLE RATE LOANS
Percentage of Group I
Adjustable Rate Loans
Number of Adjustable by Aggregate
Next Adjustment Date Rate Loans Aggregate Principal Balance Principal Balance
-------------------- ------------------- --------------------------- -----------------
10/01/99 1 $ 95,858.30 0.17 %
11/01/99 1 184,616.32 0.32
12/01/99 1 77,959.70 0.13
02/01/00 1 82,225.21 0.14
04/01/00 1 65,162.49 0.11
07/01/00 2 211,427.72 0.36
08/01/00 1 44,681.55 0.08
05/01/01 4 453,323.98 0.78
06/01/01 3 433,485.12 0.75
07/01/01 12 1,276,416.48 2.20
08/01/01 18 2,387,351.39 4.11
09/01/01 83 10,591,918.70 18.24
10/01/01 44 5,146,182.33 8.86
03/01/02 2 240,939.33 0.41
05/01/02 19 1,837,308.45 3.16
06/01/02 10 970,307.38 1.67
07/01/02 17 2,001,871.05 3.45
08/01/02 21 2,634,133.01 4.54
09/01/02 121 14,479,914.88 24.93
10/01/02 128 14,857,189.72 25.58
--- -------------- -----
Totals 490 $ 58,072,273.11 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 23
- - --------------------------------------------------------------------------------
MORTGAGE RATES OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Range of Mortgage Rates (%) Loans Aggregate Principal Balance Principal Balance
--------------------------- ----- --------------------------- -----------------
7.501 - 8.000 3 $ 270,959.62 0.39 %
8.001 - 8.500 82 10,734,740.78 15.35
8.501 - 9.000 71 8,302,939.68 11.87
9.001 - 9.500 70 8,607,755.09 12.30
9.501 - 10.000 112 13,232,835.53 18.92
10.001 - 10.500 109 11,801,153.13 16.87
10.501 - 11.000 94 8,663,787.06 12.38
11.001 - 11.500 47 3,991,149.64 5.71
11.501 - 12.000 27 2,211,705.68 3.16
12.001 - 12.500 13 951,412.17 1.36
12.501 - 13.000 12 1,089,738.16 1.56
13.001 - 13.500 1 51,788.80 0.07
13.501 - 14.000 1 45,424.81 0.06
- --------- ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
PRINCIPAL BALANCES OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Range of Principal Balances ($) Loans Aggregate Principal Balance Principal Balance
------------------------------- ----- --------------------------- -----------------
15,000.01 - 25,000.00 5 $ 108,511.82 0.16 %
25,000.01 - 50,000.00 62 2,510,281.44 3.59
50,000.01 - 75,000.00 96 6,245,522.25 8.93
75,000.01 - 100,000.00 168 14,866,038.10 21.25
100,000.01 - 125,000.00 111 12,558,758.53 17.95
125,000.01 - 150,000.00 68 9,382,346.55 13.41
150,000.01 - 175,000.00 58 9,341,778.73 13.35
175,000.01 - 200,000.00 39 7,259,586.58 10.38
200,000.01 - 225,000.00 25 5,355,687.20 7.66
225,000.01 - 250,000.00 10 2,326,878.95 3.33
-- ------------ ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 24
- - --------------------------------------------------------------------------------
RISK CLASSIFICATIONS OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Risk Classification Loans Aggregate Principal Balance Principal Balance
------------------- ----- --------------------------- -----------------
A 326 $ 38,244,106.93 54.67 %
A- 135 15,289,602.15 21.86
B 115 10,831,270.55 15.48
C 57 4,626,017.14 6.61
C- 7 715,280.18 1.02
D 2 249,113.20 0.36
- ---------- ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
LOAN TO VALUE RATIOS OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Range of Loan-to-Value Number of Mortgage by Aggregate
Ratios at Origination Loans Aggregate Principal Balance Principal Balance
---------------------- ----- --------------------------- -----------------
20.01 - 25.00 2 $ 84,551.72 0.12 %
30.01 - 35.00 3 160,855.63 0.23
40.01 - 45.00 1 50,518.31 0.07
45.01 - 50.00 3 165,751.09 0.24
50.01 - 55.00 8 738,631.52 1.06
55.01 - 60.00 11 1,087,264.64 1.55
60.01 - 65.00 24 1,962,877.76 2.81
65.01 - 70.00 46 4,405,805.45 6.30
70.01 - 75.00 194 22,255,501.72 31.81
75.01 - 80.00 167 17,893,334.66 25.58
80.01 - 85.00 101 11,110,736.26 15.88
85.01 - 90.00 79 9,768,601.77 13.96
95.01 - 100.00 3 270,959.62 0.39
- ---------------- ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 25
- - --------------------------------------------------------------------------------
REMAINING TERMS TO MATURITY OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Remaining Term (months) Loans Aggregate Principal Balance Principal Balance
- - ----------------------- ----- --------------------------- -----------------
171 - 175 8 $ 611,790.33 0.87 %
176 - 180 73 5,171,498.95 7.39
236 - 240 2 99,444.64 0.14
316 - 320 1 92,876.11 0.13
321 - 325 1 95,858.30 0.14
326 - 330 1 82,225.21 0.12
341 - 345 2 163,233.16 0.23
351 - 355 48 4,806,040.94 6.87
356 32 3,473,049.58 4.96
357 44 5,398,204.63 7.72
358 235 28,179,605.40 40.28
359 195 21,781,562.90 31.14
--- ------------- -----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 26
- - --------------------------------------------------------------------------------
GEOGRAPHIC DISTRIBUTION OF THE MORTGAGE PROPERTIES OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
State Loans Aggregate Principal Balance Principal Balance
----- ----- --------------------------- -----------------
Alabama 10 $ 724,345.92 1.04 %
Arizona 45 4,869,085.02 6.96
California 99 15,133,714.58 21.63
Colorado 39 4,725,220.61 6.75
Connecticut 1 114,619.23 0.16
Delaware 2 168,305.52 0.24
District of Columbia 1 76,433.82 0.11
Florida 18 1,544,647.64 2.21
Georgia 11 984,691.62 1.41
Idaho 5 351,797.51 0.50
Illinois 41 4,627,517.21 6.61
Indiana 9 634,207.36 0.91
Kansas 1 79,738.70 0.11
Kentucky 5 405,571.60 0.58
Louisiana 1 36,691.71 0.05
Maryland 15 1,684,354.94 2.41
Massachusetts 1 221,882.52 0.32
Michigan 14 1,114,475.10 1.59
Minnesota 7 679,038.69 0.97
Missouri 9 542,380.58 0.78
New Hampshire 1 39,987.21 0.06
New Mexico 22 1,885,088.83 2.69
New York 7 459,789.07 0.66
North Carolina 15 1,592,841.04 2.28
Ohio 40 2,999,095.80 4.29
Oklahoma 1 31,480.92 0.05
Oregon 96 10,853,292.64 15.51
Pennsylvania 23 1,660,663.78 2.37
South Carolina 5 351,652.75 0.50
South Dakota 1 94,776.29 0.14
Tennessee 14 1,185,562.01 1.69
Texas 3 367,349.48 0.53
Utah 11 1,388,372.05 1.98
Virginia 5 744,478.31 1.06
Washington 56 6,827,718.38 9.76
West Virginia 3 137,701.24 0.20
Wisconsin 3 364,195.66 0.52
Wyoming 2 252,624.81 0.36
- ---------- ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 27
- - --------------------------------------------------------------------------------
NUMBER OF MONTHS ELAPSED FROM THE DATE OF ORIGINATION OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Range of Months Loans Aggregate Principal Balance Principal Balance
--------------- ----- --------------------------- -----------------
0 169 $ 17,910,447.32 25.60 %
1 281 31,947,904.66 45.67
2 81 8,977,854.67 12.83
3 39 4,279,422.60 6.12
4 28 2,401,356.14 3.43
5 - 12 39 4,004,211.98 5.72
13 - 24 2 163,233.16 0.23
25 - 48 3 270,959.62 0.39
- ---------- ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
OCCUPANCY STATUS OF THE MORTGAGED PROPERTIES OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Occupancy Status Loans Aggregate Principal Balance Principal Balance
---------------- ----- --------------------------- -----------------
Investment 36 $ 2,764,185.96 3.95 %
Owner Occupied 598 66,464,816.31 95.01
Second Home 8 726,387.88 1.04
- ---------- ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
TYPES OF MORTGAGED PROPERTIES OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Property Type Loans Aggregate Principal Balance Principal Balance
------------- ----- --------------------------- -----------------
Multi-Family Home 28 $ 3,106,810.42 4.44 %
Condominium 12 1,187,900.64 1.70
Manufactured Homes 25 2,049,385.69 2.93
Single Family Home 577 63,611,293.40 90.93
--- ------------- -----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 28
- - --------------------------------------------------------------------------------
USE OF PROCEEDS OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Use of Proceeds Loans Aggregate Principal Balance Principal Balance
--------------- ----- --------------------------- -----------------
Purchase 321 $ 37,478,617.02 53.58 %
Refinance Cash Out 212 21,816,604.40 31.19
Refinance Rate/Term 109 10,660,168.73 15.24
--- ------------- -----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
PROGRAM CLASSIFICATIONS OF THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Documentation Loans Aggregate Principal Balance Principal Balance
------------- ----- --------------------------- -----------------
Full 512 $ 56,209,241.71 80.35 %
Alternate 23 2,679,880.54 3.83
Income Verified/No Assets Verified 4 430,885.97 0.62
No Income Verification 107 11,066,267.90 15.82
--- -------------- -----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
PREPAYMENT PENALTIES WITH RESPECT TO THE GROUP I MORTGAGE LOANS
Percentage of Group I
Mortgage Loans
Number of Mortgage by Aggregate
Prepayment Penalty Loans Aggregate Principal Balance Principal Balance
------------------ ----- --------------------------- -----------------
1 Year 13 $ 1,400,230.17 2.00 %
2 Year 109 14,621,850.36 20.90
3 Year 501 52,510,583.73 75.06
5 Year 8 769,816.10 1.10
None 11 652,909.79 0.93
-- ---------- ----
Totals 642 $ 69,955,390.15 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 29
- - --------------------------------------------------------------------------------
Group II Adjustable Rate Loans
All Adjustable Rate Loans
----------------------------------
Number of Group II Adjustable Rate Loans 215
Percentage of All Group II Mortgage Loans 77.06%
(by number of loans)
Aggregate Principal Balance $26,794,389.88
Percentage of All Group II Mortgage Loans 88.50%
(by aggregate principal balance)
Principal Balance of Mortgage Loans as of the Cut-Off Date
Average $124,625.07
Range $11,994.09 - $422,403.11
Coupon Rates
Weighted Average 9.870%
Range 7.625% - 13.750%
Remaining Term to Maturity
(in months)
Weighted Average 357.27
Range 317 - 359
Loan-to-Value Ratio at Origination
Weighted Average 78.38%
Range 36.81% - 96.50%
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 30
- - --------------------------------------------------------------------------------
Group II Fixed Rate Loans
All Fixed Rate Loans
----------------------------------
Number of Group II Fixed Rate Loans 64
Percentage of All Group II Mortgage Loans 22.94%
(by number of loans)
Aggregate Principal Balance $3,482,042.34
Percentage of All Group II Mortgage Loans 11.50%
(by aggregate principal balance)
Principal Balance of Mortgage Loans as of the Cut-Off Date
Average $54,406.91
Range $16,916.67 - $243,565.63
Coupon Rates
Weighted Average 9.869%
Range 8.250% - 12.875%
Remaining Term to Maturity
(in months)
Weighted Average 265.48
Range 173 - 359
Loan-to-Value Ratio at Origination
Weighted Average 71.20%
Range 11.03% - 85.00%
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 31
- - --------------------------------------------------------------------------------
MORTGAGE RATES OF THE GROUP II FIXED RATE LOANS
Percentage of Group II
Fixed Rate Loans by
Number of Fixed Rate Aggregate
Range of Mortgage Rates (%) Loans Aggregate Principal Balance Principal Balance
--------------------------- ----- --------------------------- -----------------
8.001 - 8.500 1 $ 43,153.81 1.24 %
8.501 - 9.000 8 625,895.67 17.97
9.001 - 9.500 12 729,338.71 20.95
9.501 - 10.000 20 1,146,818.35 32.94
10.001 - 10.500 4 106,924.97 3.07
10.501 - 11.000 6 423,967.27 12.18
11.001 - 11.500 5 160,093.45 4.60
11.501 - 12.000 4 131,180.53 3.77
12.001 - 12.500 3 86,083.13 2.47
12.501 - 13.000 1 28,586.45 0.82
- ----------------- ----
Totals 64 $ 3,482,042.34 100.00 %
== ============ ======
PRINCIPAL BALANCES OF THE GROUP II FIXED RATE LOANS
Percentage of Group II
Fixed Rate Loans by
Number of Fixed Rate Aggregate
Range of Principal Balances ($) Loans Aggregate Principal Balance Principal Balance
------------------------------- ----- --------------------------- -----------------
S>
15,000.01 - 25,000.00 4 $ 82,110.69 2.36 %
25,000.01 - 50,000.00 39 1,402,328.92 40.27
50,000.01 - 75,000.00 12 755,371.15 21.69
75,000.01 - 100,000.00 2 171,080.05 4.91
100,000.01 - 125,000.00 3 327,671.99 9.41
125,000.01 - 150,000.00 1 130,353.14 3.74
175,000.01 - 200,000.00 2 369,560.77 10.61
225,000.01 - 250,000.00 1 243,565.63 6.99
- ----------------- ----
Totals 64 $ 3,482,042.34 100.00 %
== ============ ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 32
- - --------------------------------------------------------------------------------
REMAINING TERMS TO MATURITY OF THE GROUP II FIXED RATE LOANS
Percentage of Group II
Fixed Rate Loans by
Number of Fixed Rate Aggregate
Remaining Term (months) Loans Aggregate Principal Balance Principal Balance
----------------------- ----- --------------------------- -----------------
171 - 175 3 $ 94,632.97 2.72 %
176 - 180 34 1,673,287.94 48.05
236 - 240 1 34,453.82 0.99
351 - 355 3 143,068.64 4.11
356 2 71,551.00 2.05
357 1 33,769.85 0.97
358 9 722,538.83 20.75
359 11 708,739.29 20.35
-- ----------------- -----
Totals 64 $ 3,482,042.34 100.00 %
== ============ ======
MORTGAGE RATES OF THE GROUP II ADJUSTABLE RATE LOANS
Percentage of Group II
Adjustable Rate Loans
Number of Adjustable by Aggregate Principal
Range of Mortgage Rates (%) Rate Loans Aggregate Principal Balance Balance
--------------------------- --------------------------- -------
7.501 - 8.000 1 $ 66,059.14 0.25 %
8.001 - 8.500 24 4,079,849.60 15.23
8.501 - 9.000 17 2,995,474.52 11.18
9.001 - 9.500 21 3,737,237.01 13.95
9.501 - 10.000 41 5,893,013.56 21.99
10.001 - 10.500 34 3,867,792.08 14.44
10.501 - 11.000 31 2,991,156.58 11.16
11.001 - 11.500 23 1,528,172.72 5.70
11.501 - 12.000 12 844,031.12 3.15
12.001 - 12.500 4 227,021.61 0.85
12.501 - 13.000 3 171,350.68 0.64
13.001 - 13.500 1 241,400.84 0.90
13.501 - 14.000 3 151,830.42 0.57
- ---------------- ----
Totals 215 $ 26,794,389.88 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 33
- - --------------------------------------------------------------------------------
PRINCIPAL BALANCES OF THE GROUP II ADJUSTABLE RATE LOANS
Percentage of Group II
Adjustable Rate Loans
Number of Adjustable by Aggregate
Range of Principal Balances ($) Rate Loans Aggregate Principal Balance Principal Balance
------------------------------- ----------------- --------------------------- -----------------
0.01 - 15,000.00 1 $ 11,994.09 0.04 %
25,000.01 - 50,000.00 47 2,023,587.37 7.55
50,000.01 - 75,000.00 99 5,994,542.24 22.37
100,000.01 - 125,000.00 5 535,371.15 2.00
200,000.01 - 225,000.00 3 645,849.80 2.41
225,000.01 - 250,000.00 16 3,824,898.76 14.27
250,000.01 - 275,000.00 13 3,354,484.58 12.52
275,000.01 - 300,000.00 11 3,170,878.75 11.83
300,000.01 - 325,000.00 4 1,254,549.28 4.68
325,000.01 - 350,000.00 4 1,377,465.90 5.14
350,000.01 - 375,000.00 6 2,177,487.22 8.13
375,000.01 - 400,000.00 4 1,591,897.22 5.94
400,000.01 - 425,000.00 2 831,383.52 3.10
- ---------------- ----
Totals 215 $ 26,794,389.88 100.00 %
=== ============= ======
REMAINING TERMS TO MATURITY OF THE GROUP II INITIAL ADJUSTABLE RATE LOANS
Percentage of Group II
Number of Adjustable Adjustable Rate Loans
Rate Loans by Aggregate
Remaining Term (months) Aggregate Principal Balance Principal Balance
----------------------- --------------------------- -----------------
316 - 320 1 $ 66,059.14 0.25 %
346 - 350 3 791,121.31 2.95
351 - 355 27 3,163,968.65 11.81
356 12 1,546,030.35 5.77
357 22 3,387,565.07 12.64
358 76 9,006,337.71 33.61
359 74 8,833,307.65 32.97
-- -- ------------- -----
Totals 215 $ 26,794,389.88 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 34
- - --------------------------------------------------------------------------------
GROSS MARGINS OF THE GROUP II ADJUSTABLE RATE LOANS
Percentage of Group II
Adjustable Rate Loans
Number of Adjustable by Aggregate
Range of Gross Margins (%) Rate Loans Aggregate Principal Balance Principal Balance
-------------------------- ------------------ --------------------------- -----------------
2.501 - 3.000 1 $ 66,059.14 0.25 %
5.001 - 5.500 4 432,489.29 1.61
5.501 - 6.000 50 8,084,375.54 30.17
6.001 - 6.500 38 4,781,427.02 17.84
6.501 - 7.000 78 9,207,922.43 34.37
7.001 - 7.500 19 2,302,222.39 8.59
7.501 - 8.000 23 1,809,063.02 6.75
8.001 - 8.500 2 110,831.05 0.41
- ---------------- ----
Totals 215 $ 26,794,389.88 100.00 %
=== ============= ======
MAXIMUM RATES OF THE GROUP II ADJUSTABLE RATE LOANS
Percentage of Group II
Adjustable Rate Loans by
Number of Adjustable Aggregate
Range of Maximum Rates (%) Rate Loans Aggregate Principal Balance Principal Balance
- - -------------------------- ----------------- --------------------------- -----------------
10.001 - 10.500 1 $ 66,059.14 0.25 %
15.001 - 15.500 24 4,079,849.60 15.23
15.501 - 16.000 17 2,995,474.52 11.18
16.001 - 16.500 21 3,737,237.01 13.95
16.501 - 17.000 41 5,893,013.56 21.99
17.001 - 17.500 34 3,867,792.08 14.44
17.501 - 18.000 31 2,991,156.58 11.16
18.001 - 18.500 23 1,528,172.72 5.70
18.501 - 19.000 12 844,031.12 3.15
19.001 - 19.500 4 227,021.61 0.85
19.501 - 20.000 3 171,350.68 0.64
20.001 - 20.500 1 241,400.84 0.90
20.501 - 21.000 3 151,830.42 0.57
- ---------------- ----
Totals 215 $ 26,794,389.88 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 35
- - --------------------------------------------------------------------------------
MINIMUM RATES OF THE GROUP II ADJUSTABLE RATE LOANS
Percentage of Group II
Adjustable Rate Loans by
Number of Adjustable Aggregate
Range of Minimum Rates (%) Rate Loans Aggregate Principal Balance Principal Balance
- - -------------------------- --------------- --------------------------- -----------------
5.001 - 5.500 1 $ 66,059.14 0.25 %
8.001 - 8.500 24 4,079,849.60 15.23
8.501 - 9.000 17 2,995,474.52 11.18
9.001 - 9.500 21 3,737,237.01 13.95
9.501 - 10.000 41 5,893,013.56 21.99
10.001 - 10.500 34 3,867,792.08 14.44
10.501 - 11.000 31 2,991,156.58 11.16
11.001 - 11.500 23 1,528,172.72 5.70
11.501 - 12.000 12 844,031.12 3.15
12.001 - 12.500 4 227,021.61 0.85
12.501 - 13.000 3 171,350.68 0.64
13.001 - 13.500 1 241,400.84 0.90
13.501 - 14.000 3 151,830.42 0.57
- ---------------- ----
Totals 215 $ 26,794,389.88 100.00 %
=== ============= ======
NEXT INTEREST ADJUSTMENT DATE OF THE GROUP II ADJUSTABLE RATE LOANS
Percentage of Group II
Adjustable Rate Loans
Number of Adjustable by Aggregate
Next Adjustment Date Rate Loans Aggregate Principal Balance Principal Balance
-------------------- ------------------ --------------------------- -----------------
01/01/00 1 $ 354,828.42 1.32 %
02/01/00 2 321,533.41 1.20
07/01/00 1 66,059.14 0.25
09/01/00 2 440,831.95 1.65
05/01/01 4 207,015.93 0.77
06/01/01 2 369,760.75 1.38
07/01/01 4 638,803.42 2.38
08/01/01 9 1,923,235.37 7.18
09/01/01 25 4,117,842.18 15.37
10/01/01 19 1,738,253.92 6.49
01/01/02 1 350,289.36 1.31
05/01/02 11 1,398,879.28 5.22
06/01/02 10 1,188,312.69 4.43
07/01/02 7 552,398.51 2.06
08/01/02 11 1,142,796.29 4.27
09/01/02 51 4,888,495.53 18.24
10/01/02 55 7,095,053.73 26.48
-- ------------- -----
Totals 215 $ 26,794,389.88 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 36
- - --------------------------------------------------------------------------------
MORTGAGE RATES OF THE GROUP II MORTGAGE LOANS
Percentage of Group II
Mortgage Loans
Number of Mortgage by Aggregate
Range of Mortgage Rates (%) Loans Aggregate Principal Balance Principal Balance
- - --------------------------- ----- --------------------------- -----------------
7.501 - 8.000 1 $ 66,059.14 0.22 %
8.001 - 8.500 25 4,123,003.41 13.62
8.501 - 9.000 25 3,621,370.19 11.96
9.001 - 9.500 33 4,466,575.72 14.75
9.501 - 10.000 61 7,039,831.91 23.25
10.001 - 10.500 38 3,974,717.05 13.13
10.501 - 11.000 37 3,415,123.85 11.28
11.001 - 11.500 28 1,688,266.17 5.58
11.501 - 12.000 16 975,211.65 3.22
12.001 - 12.500 7 313,104.74 1.03
12.501 - 13.000 4 199,937.13 0.66
13.001 - 13.500 1 241,400.84 0.80
13.501 - 14.000 3 151,830.42 0.50
- ----- ----------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
PRINCIPAL BALANCES OF THE GROUP II MORTGAGE LOANS
Percentage of Group II
Mortgage Loans
Number of Mortgage by Aggregate
Range of Principal Balances ($) Loans Aggregate Principal Balance Principal Balance
- - ------------------------------- ----- --------------------------- -----------------
0.01 - 15,000.00 1 $ 11,994.09 0.04 %
15,000.01 - 25,000.00 4 82,110.69 0.27
25,000.01 - 50,000.00 86 3,425,916.29 11.32
50,000.01 - 75,000.00 111 6,749,913.39 22.29
75,000.01 - 100,000.00 2 171,080.05 0.57
100,000.01 - 125,000.00 8 863,043.14 2.85
125,000.01 - 150,000.00 1 130,353.14 0.43
175,000.01 - 200,000.00 2 369,560.77 1.22
200,000.01 - 225,000.00 3 645,849.80 2.13
225,000.01 - 250,000.00 17 4,068,464.39 13.44
250,000.01 - 275,000.00 13 3,354,484.58 11.08
275,000.01 - 300,000.00 11 3,170,878.75 10.47
300,000.01 - 325,000.00 4 1,254,549.28 4.14
325,000.01 - 350,000.00 4 1,377,465.90 4.55
350,000.01 - 375,000.00 6 2,177,487.22 7.19
375,000.01 - 400,000.00 4 1,591,897.22 5.26
400,000.01 - 425,000.00 2 831,383.52 2.75
- ----- ----------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 37
- - --------------------------------------------------------------------------------
RISK CLASSIFICATIONS OF THE GROUP II MORTGAGE LOANS
Percentage of Group II
Mortgage Loans
Number of Mortgage by Aggregate
Risk Classification Loans Aggregate Principal Balance Principal Balance
------------------- ----- --------------------------- -----------------
A 131 $ 17,808,303.60 58.82 %
A- 59 6,156,164.23 20.33
B 49 3,548,813.50 11.72
C 27 1,908,233.11 6.30
C- 11 741,848.78 2.45
D 2 113,069.00 0.37
- ----- ----------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
LOAN TO VALUE RATIOS OF THE GROUP II MORTGAGE LOANS
Percentage of Group II
Mortgage Loans by
Range of Loan-to-Value Number of Aggregate
Ratios at Origination (%) Mortgage Loans Aggregate Principal Balance Principal Balance
------------------------- -------------- --------------------------- -----------------
10.01 - 15.00 1 $ 22,490.81 0.07 %
20.01 - 25.00 1 29,977.92 0.10
25.01 - 30.00 3 82,583.56 0.27
35.01 - 40.00 3 358,580.20 1.18
40.01 - 45.00 1 64,975.52 0.21
45.01 - 50.00 3 137,824.77 0.46
50.01 - 55.00 5 277,697.57 0.92
55.01 - 60.00 7 269,891.68 0.89
60.01 - 65.00 19 1,112,659.59 3.68
65.01 - 70.00 34 2,966,443.88 9.80
70.01 - 75.00 70 8,970,880.40 29.63
75.01 - 80.00 67 6,569,308.84 21.70
80.01 - 85.00 38 5,004,429.06 16.53
85.01 - 90.00 26 4,342,629.28 14.34
95.01 - 100.00 1 66,059.14 0.22
- ------ ---------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 38
- - --------------------------------------------------------------------------------
REMAINING TERMS TO MATURITY OF THE GROUP II MORTGAGE LOANS
Percentage of Group II
Mortgage Loans
Number of Mortgage by Aggregate
Remaining Term (months) Loans Aggregate Principal Balance Principal Balance
- - ----------------------- ----- --------------------------- -----------------
171 - 175 3 $ 94,632.97 0.31 %
176 - 180 34 1,673,287.94 5.53
36 - 240 1 34,453.82 0.11
316 - 320 1 66,059.14 0.22
346 - 350 3 791,121.31 2.61
351 - 355 30 3,307,037.29 10.92
356 14 1,617,581.35 5.34
357 23 3,421,334.92 11.30
358 85 9,728,876.54 32.13
359 85 9,542,046.94 31.52
-- -- ------------- -----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 39
- - --------------------------------------------------------------------------------
GEOGRAPHIC DISTRIBUTION OF THE MORTGAGE PROPERTIES OF THE GROUP II MORTGAGE LOANS
Percentage of Group II
Mortgage Loans
Number of Mortgage by Aggregate
State Loans Aggregate Principal Balance Principal Balance
----- ----- --------------------------- -----------------
Alabama 4 $ 210,039.29 0.69 %
Arizona 19 1,365,038.47 4.51
California 36 9,248,126.90 30.55
Colorado 8 867,882.53 2.87
Delaware 2 95,979.49 0.32
Florida 10 1,082,758.93 3.58
Georgia 2 110,024.97 0.36
Idaho 3 162,042.30 0.54
Illinois 15 819,819.29 2.71
Indiana 8 363,932.74 1.20
Kansas 2 301,822.64 1.00
Kentucky 7 501,163.16 1.66
Louisiana 3 160,326.92 0.53
Maryland 7 1,424,348.57 4.70
Michigan 10 734,756.55 2.43
Minnesota 4 397,045.70 1.31
Missouri 17 811,500.68 2.68
Nevada 3 174,819.85 0.58
New Mexico 15 2,169,391.57 7.17
New York 3 130,458.54 0.43
North Carolina 8 576,238.07 1.90
North Dakota 1 44,950.55 0.15
Ohio 31 1,593,646.23 5.26
Oregon 18 2,793,656.84 9.23
Pennsylvania 16 999,909.33 3.30
Tennessee 4 163,039.84 0.54
Texas 1 55,863.46 0.18
Utah 3 763,608.64 2.52
Virginia 1 65,568.57 0.22
Washington 15 1,978,181.10 6.53
West Virginia 2 67,407.09 0.22
Wisconsin 1 43,083.41 0.14
- ------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 40
- - --------------------------------------------------------------------------------
NUMBER OF MONTHS ELAPSED FROM THE DATE OF ORIGINATION OF THE GROUP II MORTGAGE LOANS
Percentage of Group
II Mortgage Loans
Number of by Aggregate
Range of Months Mortgage Loans Aggregate Principal Balance Principal Balance
--------------- -------------- --------------------------- -----------------
0 69 $ 7,608,109.90 25.13 %
1 123 12,023,059.30 39.71
2 34 4,636,363.93 15.31
3 15 1,523,234.60 5.03
4 11 1,391,058.37 4.59
5 - 12 24 2,587,715.03 8.55
13 - 24 2 440,831.95 1.46
25 - 48 1 66,059.14 0.22
- ---------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
OCCUPANCY STATUS OF THE MORTGAGED PROPERTIES OF THE GROUP II MORTGAGE LOANS
Percentage of Group
II Mortgage Loans
Number of Mortgage by Aggregate
Occupancy Status Loans Aggregate Principal Balance Principal Balance
---------------- ----- --------------------------- -----------------
Investment 22 $ 937,296.54 3.10 %
Owner Occupied 256 29,281,580.46 96.71
Second Home 1 57,555.22 0.19
- ----------------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
TYPES OF MORTGAGED PROPERTIES OF THE GROUP II MORTGAGE LOANS
Percentage of Group
II Mortgage Loans
Number of Mortgage by Aggregate
Property Type Loans Aggregate Principal Balance Principal Balance
------------- ----- --------------------------- -----------------
Multi-Family Home 10 $ 806,653.33 2.66 %
Condominium 2 105,199.54 0.35
Manufactured Homes 16 1,158,827.00 3.83
Single Family Home 251 28,205,752.35 93.16
--- -------------- -----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.
COMPUTATIONAL MATERIALS 11/18/99 8:00 AM
RBMG FUNDING CO. MORTGAGE LOAN TRUST 1999-2 PAGE 41
- - --------------------------------------------------------------------------------
USE OF PROCEEDS OF THE GROUP II MORTGAGE LOANS
Percentage of Group
II Mortgage Loans
Number of Mortgage by Aggregate
Use of Proceeds Loans Aggregate Principal Balance Principal Balance
- - --------------- ----- --------------------------- -----------------
Refinance Cash Out 114 $ 11,427,390.07 37.74 %
Purchase 112 13,089,478.20 43.23
Refinance Rate/Term 53 5,759,563.95 19.02
-- ------------- -----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
PROGRAM CLASSIFICATIONS OF THE GROUP II MORTGAGE LOANS
Percentage of Group
II Mortgage Loans
Number of Mortgage by Aggregate
Documentation Loans Aggregate Principal Balance Principal Balance
- - ------------- ----- --------------------------- -----------------
Alternate 8 $ 1,098,739.96 3.63 %
Full 221 23,257,106.00 76.82
Income Verification 1 59,857.62 0.20
No Income Verification 49 5,920,586.26 19.56
-- ------------- -----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
PREPAYMENT PENALTIES WITH RESPECT TO THE GROUP II MORTGAGE LOANS
Percentage of Group
II Mortgage Loans
Number of Mortgage by Aggregate
Prepayment Penalty Loans Aggregate Principal Balance Principal Balance
------------------ ----- --------------------------- -----------------
1 Year 6 $ 1,565,778.46 5.17 %
2 Year 36 6,856,674.92 22.65
3 Year 224 21,000,788.15 69.36
5 Year 7 621,999.03 2.05
None 6 231,191.66 0.76
- ---------- ----
Totals 279 $ 30,276,432.22 100.00 %
=== ============= ======
- - --------------------------------------------------------------------------------
FIRST UNION SECURITIES
THIS SET OF COMPUTATIONAL MATERIALS SUPERSEDES ANY PREVIOUS COMPUTATIONAL
MATERIALS, AND WILL BE SUPERSEDED BY THE INFORMATION IN THE PROSPECTUS
SUPPLEMENT.
Recipients must read the information contained in the attached disclosure
statement. Do not use or rely on this information if you have not received and
reviewed the statement. If you have not received the statement, call your First
Union Securities account executive for another copy.