REVISED COMPUTATIONAL MATERIALS FOR FLOATER ONLY
TO 10% CALL
SUMMARY REPORT FOR ISSUERS
CS FIRST BOSTON AMRESCO HOME EQUITY LOAN TRUST 1996-4
Thu Aug 15, 1996 AMRESCO RESIDENTIAL SECURITIES
$311,080,369
Current Wam = 349 / Avg. WAC = 10.0734 / Seasoning = 0 Gross
Margin = NaN bp / Life Cap = 16.88 / Life Floor = NaN
Priced at 115.00 @BASE
Accrual Date: 8/ 1/96
Settlement Date: 8/27/96
First Pay Date: 9/25/96
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Class Original Coupon Avg. CBE 1st Last Mod.
Name Par % Life Yield Price Pay Pay Dur.
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A1 9,163,000 6.15 0.71 5.622 100-00 9/96 12/97 0.67
A2 23,277,000 6.65 1.21 6.346 100-00 9/96 11/98 1.12
A3 16,761,000 6.90 3.12 6.831 100-00 11/98 10/00 2.72
A4 11,360,000 7.20 5.25 7.196 100-00 10/00 3/03 4.23
A5 12,372,000 7.70 8.24 7.738 100-00 3/03 6/05 5.89
A6 238,146,000 FLOAT 3.50 5.895 100-00 9/96 6/05 2.91
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A6
Price: 100-00 Coupon: FLOAT Original Par: 238,146,000
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0 50 100 115 150 200
Performance at: @BASE @BASE @BASE @BASE @BASE @BASE
Average Life: 20.99 7.62 4.02 3.50 2.68 1.97
First Prin Pay: 10/96 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 2/25 5/15 10/06 6/05 4/03 5/01
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FLOATING RATE COLLATERAL SUMMARY
Total Number of Loans 1,966 Level Pay/Balloon **%/ 0%
Total Outstanding Loan Balance $205,146,825 1st Lien 100%
RANGE % TOTAL # LOANS
Avg Loan Balance $ 104,347.32 greater than
or equal to 49,999.99 7.31 434
Highest Balance $ 762,500.00 50,000 - 74,999.99 12.69 416
Lowest Balance $ 10,265.36 75,000 - 99,999.99 14.34 336
100,000 - 149,999.99 24.92 425
150,000 - 199,999.99 14.23 169
200,000 - 349,999.99 19.38 153
350,000 - 762,500.00 7.13 33
RANGE % TOTAL # LOANS
Wtg Avg Coupon 9.90% greater than
or equal to 7.99% 9.00 127
Highest Coupon 17.80% 8.00% - 8.99% 20.17 320
Lowest Coupon 6.50% 9.00% - 9.99% 32.10 554
10.00% - 10.99% 20.46 437
11.00% - 11.99% 9.52 251
12.00% - 17.80% 8.75 277
RANGE LEVEL PAY BALLOON
Wtd Avg Remaining Term 352.22 1 - 120 .16% .00%
Highest Remaining Term 360 121 - 180 2.16% .00%
Lowest Remaining Term 117 181 - 240 1.18% .00%
241 - 360 96.50% .00%
Wtd Avg Seasoning 2.09
Highest Seasoning 16
Lowest Seasoning 0
RANGE % TOTAL # LOANS
Wtd Avg Orig LTV 72.85% 0.01% - 50.00% 3.50 122
Highest LTV 90.00% 50.01% - 60.00% 8.48 201
Lowest LTV 10.00% 60.01% - 70.00% 20.74 463
70.01% - 80.00% 57.13 1,025
80.01% - 90.00% 10.14 155
Property Type Occupancy Status
Single Family 83.42% Primary Residence 89.85%
Two to Four Family 6.74% Other 10.15%
PUD 5.93%
Condo 3.56%
Other .36%
Geographics CA 44%, IL 9%, CO 7%, UT 4%, MI 4%
FLOATING RATE COLLATERAL SUMMARY CONTINUED
6 Month LIBOR 100.00%
Wtg Avg Months to Next Rate Roll 7.04
RANGE % TOTAL # LOANS
Wtg Avg Margin 6.18% greater than
or equal to 3.99% 3.14 55
Highest Margin 10.30% 4.00% - 4.99% 10.52 190
Lowest Margin 3.63% 5.00% - 5.99% 23.63 443
6.00% - 6.99% 36.49 701
7.00% - 7.99% 25.33 551
8.00% - 10.30% .89 26
RANGE % TOTAL # LOANS
Wtg Avg Life Cap 16.88% greater than
or equal to 14.99% 9.25 134
Highest Life Cap 24.80% 15.00% - 15.99% 20.43 316
Lowest Life Cap 8.99% 16.00% - 16.99% 31.62 552
17.00% - 17.99% 20.46 437
18.00% - 18.99% 9.53 252
19.00% - 24.80% 8.71 275
CAP VALUE % TOTAL # LOANS
Wtg Avg Periodic Cap 1.51% 1.00% 1.76 24
Highest Periodic Cap 3.00% 1.50% 96.78 1,915
Lowest Periodic Cap 1.00% 3.00% 1.46 27
BOND PROFILE SUMMARY
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Class Original Coupon Avg. CBE 1st Last Mod. Final
Name Par % Life Yield Price Pay Pay Dur. Maturity
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To Maturity
A1 9,163,000 6.00 0.72 6.072 100-00 9/96 12/97 0.68 7/99
A2 23,277,000 6.70 1.20 6.360 100-00 9/96 11/98 1.11 9/15
A3 16,761,000 6.90 3.10 6.816 100-00 11/98 10/00 2.70 6/21
A4 11,360,000 7.20 5.20 7.185 100-00 10/00 2/03 4.20 12/23
A5 12,372,000 7.70 9.61 7.809 100-00 2/03 1/15 6.47 9/27
A6 238,146,000 FLOAT 3.80 FLOAT 100-00 9/96 12/15 3.09 9/27
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To Call
A5 12,372,000 7.70 7.11 7.720 100-00 2/03 10/03 5.30 9/27
A6 238,146,000 FLOAT 3.30 FLOAT 100-00 9/96 10/03 2.81 9/27
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(1) Fixed Rate Certificates (Class A1-A5) and Floating Rate Certificates
Prepayment Curve (PPC)= 115% of PPC. A 100% Prepayment Assumption assumes
prepayments start at 5% in month 1,rise by exactly 1.364% per month to 20%
CPR in month 12 at 20% CPR thereafter on a seasoning adjusted basis.
(2) Coupon and price are assumed for computational materials. Class A5 coupon
steps up .75% at clean-up call if clean-up call is not exercised. Class A6
margin will double if at the clean-up call if the clean-up call is not
exercised.
(3) Class A-5 and A-6 are subject to an available funds cap equal to the Net
WAC on the collateral.
BOND PROFILE SUMMARY
- -----------------------------------------------------------------------------
Percent of PPC: 0 75 100 115 150 200
Implied Seasoned CPR 0 15 20 23 30 40
- -----------------------------------------------------------------------------
A1
Price: 100-00 Coupon: 6.0000 Original Par: 9,163,000
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Average Life: 1.55 0.72 0.72 0.72 0.72 0.71
Duration: 1.42 0.68 0.68 0.68 0.68 0.67
First Prin Pay: 9/96 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 7/99 12/97 12/97 12/97 12/97 11/97
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A2
Price: 100-00 Coupon: 6.7000 Original Par: 23,277,000
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Average Life: 13.65 2.86 1.41 1.20 0.88 0.61
Duration: 8.58 2.50 1.29 1.11 0.83 0.58
First Prin Pay: 7/04 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 9/15 7/01 3/99 11/98 4/98 10/97
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A3
Price: 100-00 Coupon: 6.9000 Original Par: 16,761,000
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Average Life: 22.19 6.84 3.57 3.10 2.34 1.70
Duration: 11.03 5.27 3.06 2.70 2.10 1.56
First Prin Pay: 9/15 7/01 3/99 11/98 4/98 11/97
Last Prin Pay: 6/21 9/05 6/01 10/00 10/99 11/98
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BOND PROFILE SUMMARY
- -----------------------------------------------------------------------------
Percent of PPC: 0 75 100 115 150 200
Implied Seasoned CPR 0 15 20 23 30 40
- -----------------------------------------------------------------------------
A4
Price: 100-00 Coupon: 7.2000 Original Par: 11,360,000
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Average Life: 26.14 11.21 6.00 5.20 3.92 2.81
Duration: 11.45 7.44 4.71 4.20 3.30 2.46
First Prin Pay: 6/21 9/05 6/01 10/00 10/99 11/98
Last Prin Pay: 12/23 4/10 2/04 2/03 7/01 2/00
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A5
Price: 100-00 Coupon: 7.7000 Original Par: 12,372,000
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Average Life: 28.48 19.01 11.01 9.61 7.27 5.22
Duration: 11.21 9.56 7.07 6.47 5.31 4.11
First Prin Pay: 12/23 4/10 2/04 2/03 7/01 2/00
Last Prin Pay: 2/26 1/25 7/17 1/15 9/10 10/06
--------------------------------
To Call
Average Life: 27.85 15.38 8.25 7.11 5.37 3.88
Duration: 11.14 8.73 5.91 5.30 4.25 3.24
First Prin Pay: 12/23 4/10 2/04 2/03 7/01 2/00
Last Prin Pay: 7/24 4/12 12/04 10/03 1/02 7/00
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(3) Class A-5 is subject to an available funds cap equal to the Net WAC on the
collateral.
(4) Class A-5 coupon steps up .75% at clean-up call is clean-up call is not
exercised.
BOND PROFILE SUMMARY
- -----------------------------------------------------------------------------
Percent of PPC: 0 75 100 115 150 200
Implied Seasoned CPR 0 15 20 23 30 40
- -----------------------------------------------------------------------------
A6
Price: 100-00 Coupon: FLOAT Original Par: 238,146,000
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To Maturity
Average Life: 21.04 8.04 4.36 3.80 2.90 2.13
Duration: 11.27 5.53 3.45 3.09 2.46 1.88
First Prin Pay: 9/96 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 4/26 3/25 6/18 12/15 5/11 3/07
To Call
Average Life: 20.92 7.24 3.80 3.30 2.53 1.87
Duration: 11.25 5.27 3.17 2.81 2.22 1.69
First Prin Pay: 9/96 9/96 9/96 9/96 9/96 9/96
Last Prin Pay: 7/24 4/12 12/04 10/03 1/02 7/00
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Class A-6 is subject to an available funds cap equal to the Net WAC on the
collateral. Class A-6 margin will double at clean-up call is clean-up call is
not exercised.
AMRESCO 1996-4 CS First Boston Computational Materials
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to b uy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by CS First Boston. All information described above
is preliminary, limited in nature and subject to completion or amendment. CS
First Boston makes no representations that the above referenced security will
actually perform as described in any scenario presented.
FIXED RATE COLLATERAL SUMMARY
Total Number of Loans 828 Level Pay/Balloon 91%/ 9%
Total Outstanding Loan Balance $ 64,933,544 1st Lien 100%
RANGE % TOTAL # LOANS
Avg Loan Balance $ 78,422.15 greater than
or equal to 49,999.99 13.32 242
Highest Balance $ 580,878.97 50,000 - 74,999.99 21.68 225
Lowest Balance $ 11,998.36 75,000 - 99,999.99 21.17 158
100,000 - 149,999.99 27.92 154
150,000 - 199,999.99 8.17 31
200,000 - 580,878.97 7.75 18
RANGE % TOTAL # LOANS
Wtg Avg Coupon 10.65% greater than
or equal to 8.99% 6.91 43
Highest Coupon 16.75% 9.00% - 9.99% 29.25 202
Lowest Coupon 7.50% 10.00% - 10.99% 32.79 253
11.00% - 11.99% 18.79 176
12.00% - 12.99% 8.03 94
13.00% - 16.75% 4.23 60
RANGE LEVEL PAY BALLOON
Wtd Avg Remaining Term 322.76 1 - 120 .00% .00%
Highest Remaining Term 360 121 - 180 7.42% 9.02%
Lowest Remaining Term 158 181 - 240 1.68% .00%
241 - 360 81.88% .00%
Wtd Avg Seasoning 5.63
Highest Seasoning 15
Lowest Seasoning 0
RANGE % TOTAL # LOANS
Wtd Avg Orig LTV 67.43% 0.01% - 50.00% 10.60 118
Highest LTV 90.00% 50.01% - 60.00% 14.07 128
Lowest LTV 13.82% 60.01% - 70.00% 32.02 263
70.01% - 80.00% 37.80 291
80.01% - 90.00% 5.51 28
Property Type Occupancy Status
Single Family 86.40% Primary Residence 92.11%
Two to Four Family 7.38% Other 7.89%
PUD 2.94%
Condo 2.73%
Other .55%
Geographics CA 47%, UT 7%, CO 7%, OR 6%, FL 5%