FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
BOND CLASS: A3
- ------------- ------------- ---------- ------- --------- ----------- ---------- ------------ ---------- -------------- ------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- ------------- ------------- ---------- ------- --------- ----------- ---------- ------------ ---------- -------------- ------------
152,691,000 AAA/AAA/AAA FLT LBR1M 0.54% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- ------------- ------------- ---------- ------- --------- ----------- ---------- ------------ ---------- -------------- ------------
Duration 5.79
ASSUMPTIONS
1M Libot 1.84%
6M Libor 2.17%
PAY DATE PERFORMING BALANCE INTEREST PRINCIPAL PAY DATE PERFORMING BALANCE INTEREST PRINCIPAL
11/25/04 152,691,000 353,310 - 02/25/08 152,691,000 312,932 -
12/25/04 152,691,000 302,837 - 03/25/08 152,691,000 292,743 -
01/25/05 152,691,000 312,932 - 04/25/08 152,691,000 312,932 -
02/25/05 152,691,000 312,932 - 05/25/08 152,691,000 302,837 -
03/25/05 152,691,000 282,648 - 06/25/08 152,691,000 312,932 -
04/25/05 152,691,000 312,932 - 07/25/08 152,691,000 302,837 -
05/25/05 152,691,000 302,837 - 08/25/08 152,691,000 312,932 -
06/25/05 152,691,000 312,932 - 09/25/08 152,691,000 312,932 -
07/25/05 152,691,000 302,837 - 10/25/08 152,691,000 302,837 -
08/25/05 152,691,000 312,932 - 11/25/08 152,691,000 312,932 -
09/25/05 152,691,000 312,932 - 12/25/08 152,691,000 302,837 -
10/25/05 152,691,000 302,837 - 01/25/09 152,691,000 312,932 -
11/25/05 152,691,000 312,932 - 02/25/09 152,691,000 312,932 -
12/25/05 152,691,000 302,837 - 03/25/09 152,691,000 282,648 -
01/25/06 152,691,000 312,932 - 04/25/09 152,691,000 312,932 -
02/25/06 152,691,000 312,932 - 05/25/09 152,691,000 302,837 -
03/25/06 152,691,000 282,648 - 06/25/09 152,691,000 312,932 -
04/25/06 152,691,000 312,932 - 07/25/09 152,691,000 302,837 -
05/25/06 152,691,000 302,837 - 08/25/09 152,691,000 312,932 -
06/25/06 152,691,000 312,932 - 09/25/09 152,691,000 312,932 -
07/25/06 152,691,000 302,837 - 10/25/09 152,691,000 302,837 -
08/25/06 152,691,000 312,932 - 11/25/09 152,691,000 312,932 -
09/25/06 152,691,000 312,932 - 12/25/09 152,691,000 302,837 -
10/25/06 152,691,000 302,837 - 01/25/10 152,691,000 312,932 -
11/25/06 152,691,000 312,932 - 02/25/10 152,691,000 312,932 -
12/25/06 152,691,000 302,837 - 03/25/10 152,691,000 282,648 -
01/25/07 152,691,000 312,932 - 04/25/10 152,691,000 312,932 -
02/25/07 152,691,000 312,932 - 05/25/10 152,691,000 302,837 -
03/25/07 152,691,000 282,648 - 06/25/10 152,691,000 312,932 3,893,446
04/25/07 152,691,000 312,932 - 07/25/10 148,797,554 295,115 5,114,789
05/25/07 152,691,000 302,837 - 08/25/10 143,682,765 294,470 4,936,713
06/25/07 152,691,000 312,932 - 09/25/10 138,746,052 284,352 4,764,894
07/25/07 152,691,000 302,837 - 10/25/10 133,981,157 265,729 4,599,112
08/25/07 152,691,000 312,932 - 11/25/10 129,382,046 265,161 4,439,152
09/25/07 152,691,000 312,932 - 12/25/10 124,942,894 247,803 4,284,809
10/25/07 152,691,000 302,837 - 01/25/11 120,658,085 247,282 4,135,885
11/25/07 152,691,000 312,932 - 02/25/11 116,522,200 238,806 3,992,188
12/25/07 152,691,000 302,837 - 03/25/11 112,530,012 208,306 112,530,012
01/25/08 152,691,000 312,932 -
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
Recovery Delay 12 months
Trigger Fail
Run to Maturity
Defaults are in addition to prepayments
CLASS M3
------------------------------------------------------------------------------------------------------------
SEVERITY: 40% SEVERITY: 50%
- -----------------------------------------------------------------------------------------------------------------------------------
FORWARD LIBOR FORWARD + 100 BPS FORWARD LIBOR FORWARD + 100 BPS
-------------------------- --------------------------- --------------------------- -------------------------
50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC
- ---------------------- ------------- ------------ ------------- ------------- ------------- ------------- ------------ ------------
CDR 6.8% 6.4% 6.1% 5.5% 5.5% 5.1% 4.9% 4.4%
Yield 6.492% 6.257% 7.315% 7.160% 6.172% 6.240% 7.227% 7.072%
Discount Margin 1.877% 1.828% 1.695% 1.710% 1.563% 1.798% 1.604% 1.616%
WAL (years) 20.83 12.68 21.65 13.02 22.11 13.06 22.59 13.37
Mod Dur (years) 11.72 8.77 10.91 8.39 11.91 8.93 11.06 8.52
Principal Window 213 to 359 126 to 359 223 to 359 130 to 359 229 to 359 130 to 359 234 to 359 133 to 359
Principal Writedown 0.99% 3.01% 8.98% 5.37% 13.97% 3.70% 13.07% 7.33%
Cum Loss 12.23% 7.24% 11.27% 6.34% 12.96% 7.40% 11.84% 6.47%
- -----------------------------------------------------------------------------------------------------------------------------------
CLASS M5
-------------------------------------------------------------------------------------------------------------
SEVERITY: 40% SEVERITY: 50%
- ------------------------------------------------------------------------------------------------------------------------------------
FORWARD LIBOR FORWARD + 100 BPS FORWARD LIBOR FORWARD + 100 BPS
---------------------------- --------------------------- -------------------------- -------------------------
50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC
- ---------------------- -------------- ------------- -------------- ------------ ------------- ------------ ------------- -----------
CDR 6.1% 5.4% 5.5% 4.5% 4.9% 4.3% 4.4% 3.6%
Yield 7.641% 6.966% 8.294% 8.169% 7.555% 7.117% 8.690% 8.159%
Discount Margin 3.017% 2.500% 2.681% 2.669% 2.932% 2.637% 3.042% 2.653%
WAL (years) 23.72 14.74 24.67 14.94 24.65 15.05 24.83 15.26
Mod Dur (years) 10.58 8.60 9.69 8.20 10.65 8.70 9.95 8.28
Principal Window 252 to 359 150 to 359 265 to 359 152 to 359 264 to 359 153 to 359 266 to 359 155 to 359
Principal Writedown 19.40% 17.63% 31.99% 12.07% 24.15% 15.59% 16.21% 12.59%
Cum Loss 11.25% 6.23% 10.39% 5.29% 11.81% 6.33% 10.84% 5.38%
- ------------------------------------------------------------------------------------------------------------------------------------
CLASS M6
------------------------------------------------------------------------------------------------------------
SEVERITY: 40% SEVERITY: 50%
- -----------------------------------------------------------------------------------------------------------------------------------
FORWARD LIBOR FORWARD + 100 BPS FORWARD LIBOR FORWARD + 100 BPS
--------------------------- --------------------------- -------------------------- -------------------------
50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC
- ---------------------- ------------- ------------- -------------- ------------ ------------ ------------- ------------- -----------
CDR 5.7% 4.8% 4.8% 4.0% 4.5% 3.9% 3.8% 3.3%
Yield 8.116% 7.913% 9.038% 8.694% 8.120% 7.149% 9.067% 7.081%
Discount Margin 3.470% 3.404% 3.381% 3.166% 3.468% 2.669% 3.403% 1.629%
WAL (years) 23.52 14.52 24.33 14.87 24.31 15.24 24.93 15.96
Mod Dur (years) 10.53 8.56 9.78 8.20 10.65 8.65 9.86 8.21
Principal Window 249 to 359 147 to 359 259 to 359 151 to 359 259 to 359 155 to 359 267 to 359 163 to 359
Principal Writedown 4.31% 0.20% 7.19% 1.82% 4.35% 17.03% 5.40% 31.61%
Cum Loss 10.67% 5.60% 9.31% 4.74% 11.02% 5.79% 9.58% 4.96%
- -----------------------------------------------------------------------------------------------------------------------------------
CLASS M7
------------------------------------------------------------------------------------------------------------
SEVERITY: 40% SEVERITY: 50%
- -----------------------------------------------------------------------------------------------------------------------------------
FORWARD LIBOR FORWARD + 100 BPS FORWARD LIBOR FORWARD + 100 BPS
-------------------------- ------------------------ ---------------------------- --------------------------
50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC 50% PPC 100% PPC
- ---------------------- ------------- ------------ ----------- ------------- -------------- ------------- ----------- --------------
CDR 4.4% 4.4% 4.4% 3.8% 3.5% 3.5% 3.5% 3.1%
Yield 8.137% 7.814% 8.437% 7.530% 8.102% 7.864% 8.507% 5.258%
Discount Margin 3.476% 3.288% 2.924% 2.023% 3.441% 3.329% 2.973% -0.169%
WAL (years) 25.32 15.57 17.69 16.18 25.94 15.86 18.75 17.51
Mod Dur (years) 10.80 8.84 7.95 8.66 10.85 8.93 8.15 8.89
Principal Window 274 to 359 159 to 359 37 to 359 166 to 359 283 to 359 162 to 359 36 to 359 181 to 359
Principal Writedown 3.63% 4.20% 8.54% 17.65% 6.35% 2.94% 10.77% 47.42%
Cum Loss 8.65% 5.18% 8.67% 4.53% 8.91% 5.24% 8.93% 4.68%
- -----------------------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
100% PPC 18% CPR for 1-24 months, 50% CPR up to month 31, 12%
CPR thereafter
Loss Severity 60%
Recovery Delay 12 months
Trigger Fail
Libor Forward + 200 bp
Run to Maturity
Defaults are in addition to prepayments
- ------------------------------------------------------
CDR* (%) 7.9
Cum Loss (%) 16.91
- ------------------------------------------------------
* CDR at which M1 is completely written down
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
100% PPC 18% CPR for 1-24 months, 50% CPR up to month 31, 12%
CPR thereafter
Loss Severity 40%
Recovery Delay 12 months
Trigger Fail
Libor Forward + 200 bp
Run to Maturity
Defaults are in addition to prepayments
- ------------------------------------------------------
CDR* (%) 12.8
Cum Loss (%) 15.49
- ------------------------------------------------------
* CDR at which M1 is completely written down
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
100% PPC 18% CPR for 1-24 months, 50% CPR upto month 31,
12% CPR thereafter
Loss Severity 50%
Recovery Delay 12 months
Trigger Fail
Libor Forward + 200 bp
Run to Maturity
Defaults are in addition to prepayments
- ------------------------------------------------------
CDR* (%) 9.8
Cum Loss (%) 16.34
- ------------------------------------------------------
* CDR at which M1 is completely written down
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
BOND CLASS: M1
- ------------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- ------------------------------------------------------------------------------------------------------------------------------------
79,365,000 AA/AA/AA FLT LBR1M 0.85% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- ------------------------------------------------------------------------------------------------------------------------------------
Duration 4.20
ASSUMPTIONS
1M Libor 1.84%
6M Libor 2.17%
PAY DATE PERFORMING BALANCE INTEREST PRINCIPAL PAY DATE PERFORMING BALANCE INTEREST PRINCIPAL
11/25/04 79,365,000 207,562 - 02/25/08 57,948,476 134,231 1,977,051
12/25/04 79,365,000 177,910 - 03/25/08 55,971,424 121,287 1,908,777
01/25/05 79,365,000 183,840 - 04/25/08 54,062,647 125,230 1,842,881
02/25/05 79,365,000 183,840 - 05/25/08 52,219,766 117,059 1,779,280
03/25/05 79,365,000 166,049 - 06/25/08 50,440,487 116,840 1,717,893
04/25/05 79,365,000 183,840 - 07/25/08 48,722,594 109,220 1,658,643
05/25/05 79,365,000 177,910 - 08/25/08 47,063,951 109,018 1,601,455
06/25/05 79,365,000 183,840 - 09/25/08 45,462,496 105,309 1,546,257
07/25/05 79,365,000 177,910 - 10/25/08 43,916,239 98,446 1,492,979
08/25/05 79,365,000 183,840 - 11/25/08 42,423,260 98,269 1,441,554
09/25/05 79,365,000 183,840 - 12/25/08 40,981,706 91,867 1,391,918
10/25/05 79,365,000 177,910 - 01/25/09 39,589,788 91,705 1,344,007
11/25/05 79,365,000 183,840 - 02/25/09 38,245,782 88,592 1,297,761
12/25/05 79,365,000 177,910 - 03/25/09 36,948,021 77,303 1,253,122
01/25/06 79,365,000 183,840 - 04/25/09 35,694,899 82,683 1,210,034
02/25/06 79,365,000 183,840 - 05/25/09 34,484,865 77,304 1,168,442
03/25/06 79,365,000 166,049 - 06/25/09 33,316,423 77,174 1,128,295
04/25/06 79,365,000 183,840 - 07/25/09 32,188,128 72,155 1,089,541
05/25/06 79,365,000 177,910 - 08/25/09 31,098,587 72,036 1,052,167
06/25/06 79,365,000 183,840 - 09/25/09 30,046,420 69,599 1,016,085
07/25/06 79,365,000 177,910 - 10/25/09 29,030,335 65,076 1,001,818
08/25/06 79,365,000 183,840 - 11/25/09 28,028,518 64,925 966,841
09/25/06 79,365,000 183,840 - 12/25/09 27,061,677 60,663 933,094
10/25/06 79,365,000 177,910 - 01/25/10 26,128,583 60,524 900,536
11/25/06 79,365,000 183,840 - 02/25/10 25,228,047 58,438 869,123
12/25/06 79,365,000 177,910 - 03/25/10 24,358,924 50,964 838,815
01/25/07 79,365,000 183,840 - 04/25/10 23,520,108 54,482 809,573
02/25/07 79,365,000 183,840 - 05/25/10 22,710,535 50,909 781,360
03/25/07 79,365,000 166,049 - 06/25/10 21,929,175 50,796 754,138
04/25/07 79,365,000 183,840 - 07/25/10 21,175,036 47,467 727,874
05/25/07 79,365,000 177,910 - 08/25/10 20,447,163 47,364 702,532
06/25/07 79,365,000 183,840 - 09/25/10 19,744,630 45,736 678,081
07/25/07 79,365,000 177,910 - 10/25/10 19,066,549 42,741 654,489
08/25/07 79,365,000 183,840 - 11/25/10 18,412,060 42,649 631,725
09/25/07 79,365,000 183,840 - 12/25/10 17,780,335 39,858 609,761
10/25/07 79,365,000 177,910 - 01/25/11 17,170,574 39,774 588,568
11/25/07 79,365,000 183,840 2,856,110 02/25/11 16,582,005 38,410 568,119
12/25/07 76,508,890 171,507 16,512,625 03/25/11 16,013,886 33,505 16,013,886
01/25/08 59,996,266 138,975 2,047,790
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
Prepay speed 100% PPC
Loss Severity 40%
Recovery Delay 0 months
Trigger Fail
Libor Forward
Run to Call
Defaults are in addition to prepayments
CLASS M2
- -------------------------------------------------------------------
+ 200 bp
- -------------------------------------------------------------------
CDR Break (%) 6.3%
Cum Loss (%) 6.59%
- -------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
FRM PPC 0% to 18% over 12 months, 18% up to month 24, 18% to 21% from month 25 to 120, 21% thereafter
ARM PPC 0% to 30% over 18 months, 30% to 50% from month 19 to 24, 50% to 30% from month 25 to 40, 30% thereafter
CDR Vector 0% to 8% over 24 months, 8% up to month 48, 8% to 5% from month 49 to 120, 5% thereafter
Loss Severity 45%
Recovery Delay 12 MONTHS
Trigger Fail
Run to Maturity
Defaults are in addition to prepayments
- -------------- ------------------- -------------------- ---------------------
Fwd Libor Fwd Libor + 200 bp
- -------------- ------------------- -------------------- ---------------------
Class M4 CDR Multiple 77.1 59.5
Cum Loss (%) 5.38 4.26
- -------------- ------------------- -------------------- ---------------------
Class M5 CDR Multiple 66.6 51.6
Cum Loss (%) 4.72 3.74
- -------------- ------------------- -------------------- ---------------------
Class M6 CDR Multiple 56.7 44.2
Cum Loss (%) 4.07 3.24
- -------------- ------------------- -------------------- ---------------------
Class M7 CDR Multiple 51.6 40.8
Cum Loss (%) 3.73 3.00
- -------------- ------------------- -------------------- ---------------------
ASSUMPTIONS
FRM PPC 0% to 18% over 12 months, 18% up to month 24, 18% to 21% from month 25 to 120, 21% thereafter
ARM PPC 0% to 30% over 18 months, 30% to 50% from month 19 to 24, 50% to 30% from month 25 to 40, 30% thereafter
CDR Vector 0% to 8% over 24 months, 8% up to month 48, 8% to 5% from month 49 to 120, 5% thereafter
Loss Severity 45%
Recovery Delay 0 MONTHS
Trigger Fail
Run to Call
Defaults are in addition to prepayments
- -------------- ------------------- -------------------- ---------------------
Fwd Libor Fwd Libor + 200 bp
- -------------- ------------------- -------------------- ---------------------
Class M4 CDR Multiple 110.9 71.2
Cum Loss (%) 6.60 4.50
- -------------- ------------------- -------------------- ---------------------
Class M5 CDR Multiple 99.2 62.2
Cum Loss (%) 6.0 4.0
- -------------- ------------------- -------------------- ---------------------
Class M6 CDR Multiple 87.2 53.7
Cum Loss (%) 5.38 3.48
- -------------- ------------------- -------------------- ---------------------
Class M7 CDR Multiple 79.6 48.1
Cum Loss (%) 4.97 3.15
- -------------- ------------------- -------------------- ---------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
Libor Static
Run to Call
CLASS A-1
- -------------------------------------------------------------------------------
5% CPR 10% CPR 15% CPR 20% CPR 25% CPR
- -------------------------------------------------------------------------------
WAL (years) 2.72 1.42 0.95 0.71 0.57
Principal Window 1 to 67 1 to 35 1 to 23 1 to 17 1 to 13
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
Prepay Speed 5% CPR
Run to Call
* No credit for excess spread
CLASS A-1
------------------------------------------------------------------------------------------------------------
LIBOR
------------------------------------------------------------------------------------------------------------
5% 6% 7%
- ----------------------------------------------------------------------------------------------------------------------------------
PD DATE BALANCE AFC EFF AFC* BALANCE AFC EFF AFC* BALANCE AFC
- ----------------------------------------------------------------------------------------------------------------------------------
1 11/25/2004 311,532,000 5.19% 5.32% 311,532,000 5.19% 6.32% 311,532,000 5.19%
2 12/25/2004 306,238,144 6.06% 6.06% 306,238,144 6.06% 6.32% 306,238,144 6.06%
3 1/25/2005 300,966,196 5.86% 5.86% 300,966,196 5.86% 6.33% 300,966,196 5.86%
4 2/25/2005 295,716,062 5.86% 5.86% 295,716,062 5.86% 6.33% 295,716,062 5.86%
5 3/25/2005 290,487,648 6.49% 6.49% 290,487,648 6.49% 6.49% 290,487,648 6.49%
6 4/25/2005 285,280,859 5.87% 5.87% 285,280,859 5.87% 6.33% 285,280,859 5.87%
7 5/25/2005 280,095,748 6.07% 6.07% 280,095,748 6.07% 6.32% 280,095,748 6.07%
8 6/25/2005 274,932,075 5.87% 5.87% 274,932,075 5.87% 6.32% 274,932,075 5.87%
9 7/25/2005 269,789,747 6.07% 6.07% 269,789,747 6.07% 6.33% 269,789,747 6.07%
10 8/25/2005 264,668,673 5.87% 5.87% 264,668,673 5.87% 6.32% 264,668,673 5.87%
11 9/25/2005 259,568,760 5.88% 5.88% 259,568,760 5.88% 6.31% 259,568,760 5.88%
12 10/25/2005 254,489,917 6.09% 6.09% 254,489,917 6.09% 6.32% 254,489,917 6.09%
13 11/25/2005 249,432,481 5.89% 5.89% 249,432,490 5.89% 6.31% 249,432,490 5.89%
14 12/25/2005 244,395,931 6.09% 6.09% 244,395,949 6.09% 6.32% 244,395,949 6.09%
15 1/25/2006 239,380,176 5.89% 5.89% 239,380,202 5.89% 6.30% 239,380,202 5.89%
16 2/25/2006 234,385,126 5.89% 5.89% 234,385,162 5.89% 6.29% 234,385,162 5.89%
17 3/25/2006 229,410,693 6.52% 6.52% 229,410,737 6.52% 6.52% 229,410,737 6.52%
18 4/25/2006 224,456,786 5.91% 5.91% 224,456,838 5.91% 6.28% 224,456,838 5.91%
19 5/25/2006 219,523,479 6.10% 6.10% 219,523,594 6.10% 6.32% 219,523,601 6.10%
20 6/25/2006 214,610,521 5.91% 5.91% 214,610,698 5.91% 6.27% 214,610,713 5.91%
21 7/25/2006 209,717,824 6.10% 6.10% 209,718,063 6.10% 6.31% 209,718,085 6.10%
22 8/25/2006 204,845,300 5.91% 5.91% 204,845,600 5.91% 6.24% 204,845,629 5.91%
23 9/25/2006 199,992,861 5.91% 5.91% 199,993,222 5.91% 6.24% 199,993,259 5.91%
24 10/25/2006 195,160,456 7.95% 7.95% 195,160,878 7.99% 7.99% 195,160,923 7.99%
25 11/25/2006 190,445,214 7.70% 7.70% 190,446,336 7.73% 7.73% 190,446,433 7.73%
26 12/25/2006 185,749,235 7.95% 7.95% 185,751,055 7.99% 7.99% 185,751,204 7.99%
27 1/25/2007 181,072,435 7.70% 7.70% 181,074,950 7.73% 7.73% 181,075,151 7.73%
28 2/25/2007 176,414,729 7.70% 7.70% 176,417,935 7.73% 7.73% 176,418,188 7.73%
29 3/25/2007 171,776,032 8.52% 8.52% 171,779,928 8.56% 8.56% 171,780,232 8.56%
30 4/25/2007 167,156,265 7.78% 7.78% 167,160,852 8.32% 8.32% 167,161,207 8.35%
31 5/25/2007 162,559,348 8.04% 8.04% 162,583,270 8.60% 8.60% 162,584,216 8.63%
32 6/25/2007 157,981,172 7.78% 7.78% 158,024,356 8.32% 8.32% 158,025,890 8.36%
33 7/25/2007 153,421,655 8.04% 8.04% 153,484,025 8.60% 8.60% 153,486,147 8.63%
34 8/25/2007 148,880,714 7.78% 7.78% 148,962,197 8.32% 8.32% 148,964,903 8.36%
35 9/25/2007 144,358,268 7.78% 7.78% 144,458,788 8.32% 8.32% 144,462,077 8.36%
36 10/25/2007 139,854,359 8.50% 8.50% 139,973,870 9.15% 9.15% 139,977,744 9.70%
37 11/25/2007 135,395,428 8.23% 8.23% 135,537,262 8.85% 8.85% 135,557,500 9.39%
38 12/25/2007 130,954,580 8.50% 8.50% 131,118,650 9.15% 9.15% 131,155,202 9.70%
39 1/25/2008 126,531,736 8.23% 8.23% 126,717,954 8.85% 8.85% 126,770,771 9.39%
40 2/25/2008 122,126,814 8.23% 8.23% 122,335,094 8.85% 8.85% 122,404,126 9.39%
41 3/25/2008 117,739,734 8.80% 8.80% 117,969,990 9.46% 9.46% 118,055,187 10.04%
42 4/25/2008 113,370,418 8.25% 8.25% 113,622,577 9.00% 9.00% 113,723,912 9.62%
43 5/25/2008 109,020,009 8.52% 8.52% 109,299,163 9.30% 9.30% 109,419,479 9.94%
44 6/25/2008 104,687,200 8.25% 8.25% 104,993,239 9.00% 9.00% 105,132,477 9.62%
45 7/25/2008 100,371,910 8.52% 8.52% 100,704,726 9.30% 9.30% 100,862,829 9.95%
46 8/25/2008 96,074,063 8.25% 8.25% 96,433,546 9.00% 9.00% 96,610,455 9.62%
47 9/25/2008 91,793,579 8.25% 8.25% 92,179,620 9.00% 9.00% 92,375,278 9.63%
48 10/25/2008 87,530,381 8.52% 8.52% 87,942,871 9.32% 9.32% 88,157,232 10.10%
49 11/25/2008 83,284,393 8.25% 8.25% 83,724,266 9.02% 9.02% 83,961,689 9.77%
50 12/25/2008 79,055,536 8.52% 8.52% 79,522,678 9.32% 9.32% 79,783,090 10.10%
51 1/25/2009 74,843,734 8.25% 8.25% 75,338,032 9.02% 9.02% 75,621,358 9.77%
52 2/25/2009 70,648,910 8.25% 8.25% 71,170,251 9.02% 9.02% 71,476,418 9.77%
53 3/25/2009 66,470,989 9.13% 9.13% 67,019,258 9.99% 9.99% 67,348,191 10.82%
54 4/25/2009 62,309,894 8.25% 8.25% 62,884,977 9.02% 9.02% 63,236,602 9.79%
55 5/25/2009 58,165,551 8.52% 8.52% 58,767,332 9.32% 9.32% 59,142,471 10.12%
56 6/25/2009 54,037,883 8.25% 8.25% 54,666,249 9.02% 9.02% 55,064,823 9.79%
57 7/25/2009 49,926,817 8.52% 8.52% 50,581,652 9.32% 9.32% 51,003,584 10.12%
58 8/25/2009 45,832,277 8.25% 8.25% 46,513,466 9.02% 9.02% 46,958,679 9.80%
59 9/25/2009 41,753,528 8.26% 8.26% 42,460,957 9.03% 9.03% 42,929,372 9.81%
60 10/25/2009 37,692,232 8.82% 8.82% 38,425,994 9.66% 9.66% 38,917,617 10.46%
61 11/25/2009 33,223,544 8.54% 8.54% 34,042,742 9.35% 9.35% 34,604,516 10.12%
62 12/25/2009 28,771,321 8.82% 8.82% 29,675,539 9.66% 9.66% 30,307,194 10.46%
63 1/25/2010 24,335,483 8.54% 8.54% 25,324,304 9.35% 9.35% 26,025,569 10.12%
64 2/25/2010 19,915,951 8.54% 8.54% 20,988,958 9.35% 9.35% 21,759,562 10.12%
65 3/25/2010 15,512,645 9.45% 9.45% 16,669,421 10.35% 10.35% 17,509,091 11.21%
66 4/25/2010 11,125,487 8.54% 8.54% 12,365,970 9.42% 9.42% 13,274,531 10.23%
67 5/25/2010 6,754,397 8.82% 8.82% 8,086,526 9.74% 9.74% 9,067,581 10.57%
68 6/25/2010 2,399,298 8.54% 8.54% 3,822,607 9.42% 9.42% 4,875,863 10.23%
69 7/25/2010 699,297 10.57%
----------------------------------------------------------------
----------------------------------------------------------------
8%
- --------------------------------------------------------------------------------------
PD DATE EFF AFC* BALANCE AFC EFF AFC*
- --------------------------------------------------------------------------------------
1 11/25/2004 7.32% 311,532,000 5.19% 8.32%
2 12/25/2004 7.32% 306,238,144 6.06% 8.31%
3 1/25/2005 7.33% 300,966,196 5.86% 8.33%
4 2/25/2005 7.32% 295,716,062 5.86% 8.32%
5 3/25/2005 7.32% 290,487,648 6.49% 8.31%
6 4/25/2005 7.31% 285,280,859 5.87% 8.30%
7 5/25/2005 7.30% 280,095,748 6.07% 8.28%
8 6/25/2005 7.29% 274,932,075 5.87% 8.25%
9 7/25/2005 7.29% 269,789,747 6.07% 8.24%
10 8/25/2005 7.26% 264,668,673 5.87% 8.21%
11 9/25/2005 7.24% 259,568,760 5.88% 8.18%
12 10/25/2005 7.23% 254,489,917 6.09% 8.15%
13 11/25/2005 7.21% 249,432,490 5.89% 8.11%
14 12/25/2005 7.20% 244,395,949 6.09% 8.09%
15 1/25/2006 7.17% 239,380,202 5.89% 8.04%
16 2/25/2006 7.14% 234,385,162 5.89% 7.99%
17 3/25/2006 7.22% 229,410,737 6.52% 8.05%
18 4/25/2006 7.09% 224,456,838 5.91% 7.90%
19 5/25/2006 7.11% 219,523,601 6.10% 7.90%
20 6/25/2006 7.03% 214,610,713 5.91% 7.80%
21 7/25/2006 7.05% 209,718,085 6.10% 7.80%
22 8/25/2006 6.96% 204,845,629 5.91% 7.68%
23 9/25/2006 6.93% 199,993,259 5.91% 7.63%
24 10/25/2006 7.99% 195,160,923 7.99% 8.26%
25 11/25/2006 7.73% 190,446,439 7.73% 8.16%
26 12/25/2006 7.99% 185,751,216 7.99% 8.24%
27 1/25/2007 7.73% 181,075,169 7.73% 8.13%
28 2/25/2007 7.73% 176,418,213 7.73% 8.11%
29 3/25/2007 8.56% 171,780,263 8.56% 8.56%
30 4/25/2007 8.35% 167,161,244 8.36% 8.39%
31 5/25/2007 8.63% 162,584,298 8.63% 8.63%
32 6/25/2007 8.36% 158,026,016 8.36% 8.39%
33 7/25/2007 8.63% 153,486,316 8.63% 8.63%
34 8/25/2007 8.36% 148,965,117 8.36% 8.39%
35 9/25/2007 8.36% 144,462,334 8.36% 8.39%
36 10/25/2007 9.70% 139,978,045 9.74% 9.74%
37 11/25/2007 9.39% 135,558,299 9.43% 9.43%
38 12/25/2007 9.70% 131,156,500 9.74% 9.74%
39 1/25/2008 9.39% 126,772,566 9.43% 9.43%
40 2/25/2008 9.39% 122,406,417 9.43% 9.43%
41 3/25/2008 10.04% 118,057,973 10.08% 10.08%
42 4/25/2008 9.62% 113,727,196 10.16% 10.16%
43 5/25/2008 9.94% 109,436,626 10.50% 10.50%
44 6/25/2008 9.62% 105,163,458 10.16% 10.16%
45 7/25/2008 9.95% 100,907,612 10.50% 10.50%
46 8/25/2008 9.62% 96,669,010 10.16% 10.16%
47 9/25/2008 9.63% 92,447,573 10.16% 10.16%
48 10/25/2008 10.10% 88,243,255 10.65% 10.65%
49 11/25/2008 9.77% 84,061,420 10.31% 10.31%
50 12/25/2008 10.10% 79,896,499 10.65% 10.65%
51 1/25/2009 9.77% 75,748,413 10.31% 10.31%
52 2/25/2009 9.77% 71,617,087 10.31% 10.31%
53 3/25/2009 10.82% 67,502,443 11.42% 11.42%
54 4/25/2009 9.79% 63,404,417 10.46% 10.46%
55 5/25/2009 10.12% 59,327,588 10.81% 10.81%
56 6/25/2009 9.79% 55,267,202 10.46% 10.46%
57 7/25/2009 10.12% 51,223,182 10.81% 10.81%
58 8/25/2009 9.80% 47,195,455 10.46% 10.46%
59 9/25/2009 9.81% 43,183,283 10.47% 10.47%
60 10/25/2009 10.46% 39,188,682 11.15% 11.15%
61 11/25/2009 10.12% 34,928,259 10.79% 10.79%
62 12/25/2009 10.46% 30,683,457 11.15% 11.15%
63 1/25/2010 10.12% 26,454,196 10.79% 10.79%
64 2/25/2010 10.12% 22,240,395 10.79% 10.79%
65 3/25/2010 11.21% 18,041,973 11.95% 11.95%
66 4/25/2010 10.23% 13,859,302 10.90% 10.90%
67 5/25/2010 10.57% 9,704,111 11.26% 11.26%
68 6/25/2010 10.23% 5,563,992 10.90% 10.90%
69 7/25/2010 10.57% 1,438,865 11.26% 11.26%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
PRICE TO YLD TABLE
BOND CLASS: M7F
- -----------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE CPN ACRU INT ACT DLY SETTLE FST ACRU DT FST PMT DT
2,000,000 BBB-/NR/NR FIX 5.50% 6,111 24 10/21/2004 10/1/2004 11/25/2004
- -----------------------------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- --------------------------------------------------------------------------------------------------------------
80.28020 7.293 9.984 11.575 12.865 13.440 13.511 13.511
80.34270 7.287 9.968 11.553 12.838 13.411 13.482 13.482
80.40520 7.280 9.951 11.531 12.811 13.382 13.453 13.453
80.46770 7.273 9.935 11.508 12.784 13.353 13.423 13.423
80.53020 7.267 9.919 11.486 12.757 13.324 13.394 13.394
80.59270 7.260 9.902 11.464 12.730 13.295 13.365 13.365
80.65520 7.254 9.886 11.442 12.703 13.266 13.336 13.336
80.71770 7.247 9.870 11.420 12.677 13.237 13.307 13.307
80.78020 7.241 9.854 11.398 12.650 13.208 13.277 13.277
80.84270 7.234 9.837 11.376 12.623 13.179 13.248 13.248
80.90520 7.228 9.821 11.354 12.596 13.151 13.219 13.219
80.96770 7.221 9.805 11.332 12.570 13.122 13.190 13.190
81.03020 7.215 9.789 11.310 12.543 13.093 13.161 13.161
81.09270 7.208 9.773 11.288 12.516 13.064 13.132 13.132
81.15520 7.202 9.757 11.266 12.490 13.036 13.103 13.103
81.21770 7.195 9.740 11.244 12.463 13.007 13.074 13.074
81.28020 7.189 9.724 11.222 12.436 12.978 13.045 13.045
81.34270 7.182 9.708 11.200 12.410 12.949 13.016 13.016
81.40520 7.176 9.692 11.178 12.383 12.921 12.987 12.987
81.46770 7.170 9.676 11.156 12.357 12.892 12.958 12.958
81.53020 7.163 9.660 11.135 12.330 12.864 12.930 12.930
81.59270 7.157 9.644 11.113 12.304 12.835 12.901 12.901
81.65520 7.150 9.628 11.091 12.277 12.807 12.872 12.872
81.71770 7.144 9.612 11.069 12.251 12.778 12.843 12.843
81.78020 7.137 9.596 11.048 12.225 12.750 12.815 12.815
81.84270 7.131 9.580 11.026 12.198 12.721 12.786 12.786
81.90520 7.125 9.564 11.004 12.172 12.693 12.757 12.757
81.96770 7.118 9.548 10.983 12.146 12.664 12.729 12.729
82.03020 7.112 9.532 10.961 12.119 12.636 12.700 12.700
82.09270 7.106 9.516 10.939 12.093 12.608 12.671 12.671
82.15520 7.099 9.500 10.918 12.067 12.579 12.643 12.643
- --------------------------------------------------------------------------------------------------------------
WAL TO CALL (YEARS) 24.42 6.04 4.23 3.40 3.12 3.09 3.09
- --------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
FRM PPC 4% - 23% CPR months 1 - 12; 23% CPR months thereafter
ARM PPC 4% - 27% CPR months 1 - 12; 27% CPR months 13 - 22; 50% CPR months 23-27; 27% CPR month 28 and thereafter
Recovery Delay 12 months
Trigger Fail
Run to Maturity
Defaults are in addition to prepayments
CLASS M-4
--------------------------------------------------------------------------------------------------------------------
FORWARD LIBOR LIBOR FLAT FOR 12 MONTHS, THEN + 400 BP
--------------------------------------------------------------------------------------------------------------------
Severity: 35% Severity: 55% Severity: 35% Severity: 55%
- ------------------------------------------------------------------------------------------------------------------------------------
75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC
- ------------------------------------------------------------------------------------------------------------------------------------
CDR (%) 7.1% 6.7% 6.4% 4.5% 4.3% 4.0% 5.9% 5.1% 4.1% 3.8% 3.3% 2.6%
Cum Loss (%) 8.78% 6.64% 4.86% 9.47% 7.06% 4.95% 7.58% 5.24% 3.22% 8.19% 5.56% 3.29%
WAL (Yrs) 20.18 16.01 12.29 21.63 17.42 12.70 21.72 17.87 12.76 22.66 18.73 13.06
- ------------------------------------------------------------------------------------------------------------------------------------
CLASS M-5
--------------------------------------------------------------------------------------------------------------------
FORWARD LIBOR LIBOR FLAT FOR 12 MONTHS, THEN + 400 BP
--------------------------------------------------------------------------------------------------------------------
Severity: 35% Severity: 55% Severity: 35% Severity: 55%
- ------------------------------------------------------------------------------------------------------------------------------------
75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC
- ------------------------------------------------------------------------------------------------------------------------------------
CDR (%) 6.5% 6.1% 5.6% 4.2% 3.9% 3.6% 5.5% 4.7% 3.5% 3.6% 3.0% 2.3%
Cum Loss (%) 8.18% 6.12% 4.30% 8.92% 6.47% 4.48% 7.15% 4.87% 2.78% 7.81% 5.09% 2.92%
WAL (Yrs) 20.07 16.33 12.38 21.99 17.42 13.13 21.79 17.76 13.14 23.18 17.83 13.81
- ------------------------------------------------------------------------------------------------------------------------------------
CLASS M-6
--------------------------------------------------------------------------------------------------------------------
FORWARD LIBOR LIBOR FLAT FOR 12 MONTHS, THEN + 400 BP
--------------------------------------------------------------------------------------------------------------------
Severity: 35% Severity: 55% Severity: 35% Severity: 55%
- ------------------------------------------------------------------------------------------------------------------------------------
75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC 75% PPC 100% PPC 135% PPC
- ------------------------------------------------------------------------------------------------------------------------------------
CDR (%) 6.1% 5.6% 4.8% 4.0% 3.6% 3.1% 5.1% 4.2% 3.0% 3.4% 2.7% 2.0%
Cum Loss (%) 7.77% 5.68% 3.73% 8.55% 6.01% 3.89% 6.71% 4.41% 2.40% 7.43% 4.61% 2.55%
WAL (Yrs) 20.42 17.01 12.55 23.31 18.16 13.21 22.05 18.02 13.47 24.02 18.37 14.23
- ------------------------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
Prepay speed 100% PPC
Loss Severity 40%
Recovery Delay 12 months
Trigger Fail
Libor Forward
Run to Maturity
Defaults are in addition to prepayments
CLASS M4
- --------------------------------------------------------------------------------
+ 0 bp + 100 bp + 200 bp
- --------------------------------------------------------------------------------
CDR Break (%) 5.9% 5.0% 4.0%
Prin Short (%) 12.77% 12.61% 16.18%
Cum Loss (%) 6.74% 5.82% 4.75%
WAL (years) 14.44 14.78 15.26
- --------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
FRM PPC 2% - 12% CPR months 1 - 18; 12% CPR months thereafter
ARM PPC 5% - 30% CPR months 1 - 24; 60% CPR months 25 - 30; 50% CPR months 31 - 36; 40% CPR months 37 - 42; 35% CPR
months 43 - 48; 30% CPR months thereafter
Forward Libor
Run to Call
------------------------ ---------------------------------------------------------------------
CLASS A-2 CLASS A-3
- -----------------------------------------------------------------------------------------------------------------------------------
BEGINNING BEGINNING
PD DATE BALANCE AFC PD DATE BEGINNING BALANCE AFC PD DATE BALANCE AFC
- -----------------------------------------------------------------------------------------------------------------------------------
1 11/25/2004 588,470,000 5.19% 1 11/25/2004 122,698,000 5.19% 70 8/25/2010 118,010,406 7.92%
2 12/25/2004 588,470,000 6.06% 2 12/25/2004 122,698,000 6.06% 71 9/25/2010 115,174,135 7.91%
3 1/25/2005 588,470,000 5.86% 3 1/25/2005 122,698,000 5.86% 72 10/25/2010 112,413,527 8.25%
4 2/25/2005 588,470,000 5.86% 4 2/25/2005 122,698,000 5.86% 73 11/25/2010 109,727,796 7.98%
5 3/25/2005 588,470,000 6.49% 5 3/25/2005 122,698,000 6.49% 74 12/25/2010 107,113,415 8.23%
6 4/25/2005 588,470,000 5.87% 6 4/25/2005 122,698,000 5.87% 75 1/25/2011 104,568,365 7.96%
7 5/25/2005 588,470,000 6.07% 7 5/25/2005 122,698,000 6.07% 76 2/25/2011 102,090,685 7.95%
8 6/25/2005 588,470,000 5.87% 8 6/25/2005 122,698,000 5.87% 77 3/25/2011 99,678,470 8.79%
9 7/25/2005 588,470,000 6.07% 9 7/25/2005 122,698,000 6.07% 78 4/25/2011 97,329,876 7.94%
10 8/25/2005 588,470,000 5.88% 10 8/25/2005 122,698,000 5.88% 79 5/25/2011 95,043,273 8.19%
11 9/25/2005 588,470,000 5.88% 11 9/25/2005 122,698,000 5.88% 80 6/25/2011 92,816,740 7.92%
12 10/25/2005 588,470,000 6.08% 12 10/25/2005 122,698,000 6.08% 81 7/25/2011 90,648,586 8.17%
13 11/25/2005 588,470,000 5.88% 13 11/25/2005 122,698,000 5.88% 82 8/25/2011 -
14 12/25/2005 588,470,000 6.08% 14 12/25/2005 122,698,000 6.08%
15 1/25/2006 588,470,000 5.88% 15 1/25/2006 122,698,000 5.88%
16 2/25/2006 588,470,000 5.89% 16 2/25/2006 122,698,000 5.89%
17 3/25/2006 588,470,000 6.52% 17 3/25/2006 122,698,000 6.52%
18 4/25/2006 588,470,000 5.89% 18 4/25/2006 122,698,000 5.89%
19 5/25/2006 588,470,000 6.09% 19 5/25/2006 122,698,000 6.09%
20 6/25/2006 588,470,000 5.89% 20 6/25/2006 122,698,000 5.89%
21 7/25/2006 588,470,000 6.09% 21 7/25/2006 122,698,000 6.09%
22 8/25/2006 584,984,169 5.90% 22 8/25/2006 122,698,000 5.90%
23 9/25/2006 562,847,537 5.90% 23 9/25/2006 122,698,000 5.90%
24 10/25/2006 540,240,814 7.17% 24 10/25/2006 122,698,000 7.17%
25 11/25/2006 487,529,790 6.93% 25 11/25/2006 122,698,000 6.93%
26 12/25/2006 438,641,064 7.16% 26 12/25/2006 122,698,000 7.16%
27 1/25/2007 393,293,575 6.93% 27 1/25/2007 122,698,000 6.93%
28 2/25/2007 351,226,967 6.92% 28 2/25/2007 122,698,000 6.92%
29 3/25/2007 312,200,064 7.66% 29 3/25/2007 122,698,000 7.66%
30 4/25/2007 276,034,702 7.08% 30 4/25/2007 122,698,000 7.08%
31 5/25/2007 250,126,478 7.31% 31 5/25/2007 122,698,000 7.31%
32 6/25/2007 225,634,459 7.07% 32 6/25/2007 122,698,000 7.07%
33 7/25/2007 202,479,369 7.30% 33 7/25/2007 122,698,000 7.30%
34 8/25/2007 180,586,385 7.06% 34 8/25/2007 122,698,000 7.06%
35 9/25/2007 159,884,896 7.06% 35 9/25/2007 122,698,000 7.06%
36 10/25/2007 140,334,718 7.68% 36 10/25/2007 122,698,000 7.68%
37 11/25/2007 126,340,300 7.43% 37 11/25/2007 122,698,000 7.43%
38 12/25/2007 126,340,300 7.67% 38 12/25/2007 122,698,000 7.67%
39 1/25/2008 126,340,300 7.41% 39 1/25/2008 122,698,000 7.41%
40 2/25/2008 126,340,300 7.41% 40 2/25/2008 122,698,000 7.41%
41 3/25/2008 126,340,300 7.91% 41 3/25/2008 122,698,000 7.91%
42 4/25/2008 121,755,847 7.53% 42 4/25/2008 122,698,000 7.53%
43 5/25/2008 114,407,093 7.77% 43 5/25/2008 122,698,000 7.77%
44 6/25/2008 107,302,822 7.52% 44 6/25/2008 122,698,000 7.52%
45 7/25/2008 100,434,554 7.76% 45 7/25/2008 122,698,000 7.76%
46 8/25/2008 93,794,110 7.51% 46 8/25/2008 122,698,000 7.51%
47 9/25/2008 87,373,595 7.50% 47 9/25/2008 122,698,000 7.50%
48 10/25/2008 81,170,657 7.83% 48 10/25/2008 122,698,000 7.83%
49 11/25/2008 76,074,566 7.58% 49 11/25/2008 122,698,000 7.58%
50 12/25/2008 71,117,329 7.82% 50 12/25/2008 122,698,000 7.82%
51 1/25/2009 66,294,990 7.57% 51 1/25/2009 122,698,000 7.57%
52 2/25/2009 61,603,702 7.56% 52 2/25/2009 122,698,000 7.56%
53 3/25/2009 57,039,736 8.37% 53 3/25/2009 122,698,000 8.37%
54 4/25/2009 52,599,468 7.65% 54 4/25/2009 122,698,000 7.65%
55 5/25/2009 48,280,242 7.90% 55 5/25/2009 122,698,000 7.90%
56 6/25/2009 44,077,730 7.64% 56 6/25/2009 122,698,000 7.64%
57 7/25/2009 39,988,617 7.89% 57 7/25/2009 122,698,000 7.89%
58 8/25/2009 36,009,683 7.63% 58 8/25/2009 122,698,000 7.63%
59 9/25/2009 32,137,426 7.63% 59 9/25/2009 122,698,000 7.63%
60 10/25/2009 28,369,312 8.17% 60 10/25/2009 122,698,000 8.17%
61 11/25/2009 24,640,945 7.90% 61 11/25/2009 122,698,000 7.90%
62 12/25/2009 21,013,687 8.15% 62 12/25/2009 122,698,000 8.15%
63 1/25/2010 17,484,650 7.88% 63 1/25/2010 122,698,000 7.88%
64 2/25/2010 14,051,030 7.87% 64 2/25/2010 122,698,000 7.87%
65 3/25/2010 10,710,106 8.71% 65 3/25/2010 122,698,000 8.71%
66 4/25/2010 7,459,246 7.95% 66 4/25/2010 122,698,000 7.95%
67 5/25/2010 4,297,583 8.21% 67 5/25/2010 122,698,000 8.21%
68 6/25/2010 1,220,820 7.93% 68 6/25/2010 122,698,000 7.93%
69 7/25/2010 - 69 7/25/2010 120,924,542 8.19%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
FRM PPC 2% - 12% CPR months 1 - 18; 12% CPR months thereafter
ARM PPC 5% - 30% CPR months 1 - 24; 60% CPR months 25 - 30; 50% CPR months 31 - 36; 40% CPR months 37 - 42; 35%
CPR months 43 - 48; 30% CPR months thereafter
Forward Libor
Run to Call
CLASS A-3
---------------------------------------------------------------------------------------------
LIBOR
---------------------------------------------------------------------------------------------
9% 10%
- ------------------------------------------------------------------------------------------------------------------
PD DATE BALANCE AFC EFF AFC BALANCE AFC EFF AFC
- ------------------------------------------------------------------------------------------------------------------
1 11/25/2004 122,698,000 5.19% 9.32% 122,698,000 5.19% 10.00%
2 12/25/2004 122,698,000 6.06% 9.32% 122,698,000 6.06% 10.00%
3 1/25/2005 122,698,000 5.86% 9.33% 122,698,000 5.86% 10.00%
4 2/25/2005 122,698,000 5.86% 9.33% 122,698,000 5.86% 10.00%
5 3/25/2005 122,698,000 6.49% 9.33% 122,698,000 6.49% 10.00%
6 4/25/2005 122,698,000 5.88% 9.33% 122,698,000 5.88% 10.00%
7 5/25/2005 122,698,000 6.07% 9.32% 122,698,000 6.07% 9.99%
8 6/25/2005 122,698,000 5.88% 9.32% 122,698,000 5.88% 9.98%
9 7/25/2005 122,698,000 6.07% 9.32% 122,698,000 6.07% 9.97%
10 8/25/2005 122,698,000 5.88% 9.31% 122,698,000 5.88% 9.96%
11 9/25/2005 122,698,000 5.88% 9.30% 122,698,000 5.88% 9.95%
12 10/25/2005 122,698,000 6.09% 9.28% 122,698,000 6.09% 9.93%
13 11/25/2005 122,698,000 5.90% 9.28% 122,698,000 5.90% 9.92%
14 12/25/2005 122,698,000 6.09% 9.27% 122,698,000 6.09% 9.90%
15 1/25/2006 122,698,000 5.90% 9.26% 122,698,000 5.90% 9.88%
16 2/25/2006 122,698,000 5.90% 9.25% 122,698,000 5.90% 9.87%
17 3/25/2006 122,698,000 6.53% 9.26% 122,698,000 6.53% 9.87%
18 4/25/2006 122,698,000 5.91% 9.22% 122,698,000 5.91% 9.82%
19 5/25/2006 122,698,000 6.11% 9.23% 122,698,000 6.11% 9.82%
20 6/25/2006 122,698,000 5.92% 9.19% 122,698,000 5.92% 9.77%
21 7/25/2006 122,698,000 6.11% 9.19% 122,698,000 6.11% 9.77%
22 8/25/2006 122,698,000 5.92% 9.14% 122,698,000 5.92% 9.72%
23 9/25/2006 122,698,000 5.92% 9.13% 122,698,000 5.92% 9.69%
24 10/25/2006 122,698,000 7.96% 9.24% 122,698,000 7.96% 9.80%
25 11/25/2006 122,698,000 7.70% 9.28% 122,698,000 7.70% 9.86%
26 12/25/2006 122,698,000 7.94% 9.33% 122,698,000 7.94% 9.94%
27 1/25/2007 122,698,000 7.68% 9.39% 122,698,000 7.68% 10.02%
28 2/25/2007 122,698,000 7.67% 9.46% 122,698,000 7.67% 10.11%
29 3/25/2007 122,698,000 8.48% 9.42% 122,698,000 8.48% 10.11%
30 4/25/2007 122,698,000 8.22% 9.46% 122,698,000 8.22% 10.17%
31 5/25/2007 122,698,000 8.48% 9.43% 122,698,000 8.48% 10.15%
32 6/25/2007 122,698,000 8.19% 9.51% 122,698,000 8.19% 10.25%
33 7/25/2007 122,698,000 8.45% 9.45% 122,698,000 8.45% 10.20%
34 8/25/2007 122,698,000 8.17% 9.55% 122,698,000 8.17% 10.32%
35 9/25/2007 122,698,000 8.15% 9.58% 122,698,000 8.15% 10.36%
36 10/25/2007 122,698,000 9.39% 9.39% 122,698,000 9.39% 9.82%
37 11/25/2007 122,698,000 9.07% 9.12% 122,698,000 9.07% 9.93%
38 12/25/2007 122,698,000 9.35% 9.35% 122,698,000 9.35% 9.80%
39 1/25/2008 122,698,000 9.03% 9.10% 122,698,000 9.03% 9.91%
40 2/25/2008 122,698,000 9.02% 9.10% 122,698,000 9.02% 9.87%
41 3/25/2008 122,698,000 9.62% 9.62% 122,698,000 9.62% 9.63%
42 4/25/2008 122,698,000 9.62% 9.62% 122,698,000 9.62% 9.62%
43 5/25/2008 122,698,000 9.92% 9.92% 122,698,000 9.92% 9.92%
44 6/25/2008 122,698,000 9.59% 9.59% 122,698,000 9.59% 9.59%
45 7/25/2008 122,698,000 9.89% 9.89% 122,698,000 9.89% 9.89%
46 8/25/2008 122,698,000 9.55% 9.55% 122,698,000 9.55% 9.55%
47 9/25/2008 122,698,000 9.53% 9.53% 122,698,000 9.53% 9.53%
48 10/25/2008 122,698,000 9.96% 9.96% 122,698,000 9.96% 9.96%
49 11/25/2008 122,698,000 9.62% 9.62% 122,698,000 9.62% 9.62%
50 12/25/2008 122,698,000 9.93% 9.93% 122,698,000 9.93% 9.93%
51 1/25/2009 122,698,000 9.59% 9.59% 122,698,000 9.59% 9.59%
52 2/25/2009 122,698,000 9.58% 9.58% 122,698,000 9.58% 9.58%
53 3/25/2009 122,698,000 10.59% 10.59% 122,698,000 10.59% 10.59%
54 4/25/2009 122,698,000 9.67% 9.67% 122,698,000 9.67% 9.67%
55 5/25/2009 122,698,000 9.97% 9.97% 122,698,000 9.97% 9.97%
56 6/25/2009 122,698,000 9.63% 9.63% 122,698,000 9.63% 9.63%
57 7/25/2009 122,698,000 9.94% 9.94% 122,698,000 9.94% 9.94%
58 8/25/2009 122,698,000 9.60% 9.60% 122,698,000 9.60% 9.60%
59 9/25/2009 122,698,000 9.59% 9.59% 122,698,000 9.59% 9.59%
60 10/25/2009 122,698,000 10.15% 10.15% 122,698,000 10.15% 10.15%
61 11/25/2009 122,698,000 9.80% 9.80% 122,698,000 9.80% 9.80%
62 12/25/2009 122,698,000 10.11% 10.11% 122,698,000 10.11% 10.11%
63 1/25/2010 122,698,000 9.76% 9.76% 122,698,000 9.76% 9.76%
64 2/25/2010 122,698,000 9.75% 9.75% 122,698,000 9.75% 9.75%
65 3/25/2010 122,698,000 10.77% 10.77% 122,698,000 10.77% 10.77%
66 4/25/2010 122,698,000 9.79% 9.79% 122,698,000 9.79% 9.79%
67 5/25/2010 122,698,000 10.10% 10.10% 122,698,000 10.10% 10.10%
68 6/25/2010 122,698,000 9.75% 9.75% 122,698,000 9.75% 9.75%
69 7/25/2010 121,382,545 10.06% 10.06% 121,382,560 10.06% 10.06%
70 8/25/2010 118,479,566 9.71% 9.71% 118,479,582 9.71% 9.71%
71 9/25/2010 115,653,506 9.69% 9.69% 115,653,522 9.69% 9.69%
72 10/25/2010 112,902,235 10.07% 10.07% 112,902,250 10.07% 10.07%
73 11/25/2010 110,224,623 9.73% 9.73% 110,224,639 9.73% 9.73%
74 12/25/2010 107,617,558 10.03% 10.03% 107,617,573 10.03% 10.03%
75 1/25/2011 105,079,056 9.69% 9.69% 105,079,072 9.69% 9.69%
76 2/25/2011 102,607,194 9.67% 9.67% 102,607,209 9.67% 9.67%
77 3/25/2011 100,200,101 10.68% 10.68% 100,200,117 10.68% 10.68%
78 4/25/2011 97,855,991 9.70% 9.70% 97,856,007 9.70% 9.70%
79 5/25/2011 95,573,827 10.00% 10.00% 95,573,844 10.00% 10.00%
80 6/25/2011 93,351,100 9.66% 9.66% 93,351,119 9.66% 9.66%
81 7/25/2011 91,186,149 9.96% 9.96% 91,186,170 9.96% 9.96%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
ASSUMPTIONS
Loss Severity 50%
Recovery Delay 6 months
Trigger Fail
Libor Forward Curve
Run to Maturity
Defaults are in addition to prepayments
- ------------------------------------------------------------------------------------------------------------------------------
CLASS M4 CLASS M5 CLASS M6
50% PPC 100% PPC 150% PPC 50% PPC 100% PPC 150% PPC 50% PPC 100% PPC 150% PPC
- ------------------------------------------------------------------------------------------------------------------------------
CDR (%) 5.6 5.5 5.5 5.3 5.0 4.9 5.0 4.6 4.3
Cum Loss (%) 13.15 7.91 5.77 12.59 7.27 5.17 12.01 6.74 4.57
- ------------------------------------------------------------------------------------------------------------------------------
AFC ASSUMPTIONS EXCESS SPREAD ASSUMPTIONS
FRM Prepay speed 50% FRM PPC Prepay speed 100% PPC
ARM Prepay speed 150% ARM PPC Default Rate 6 CDR
Libor Forward Loss Severity 50%
Run To Call Trigger Fail
Defaults are in addition to prepayments
- --------------------------- -------------------------------------------------- ---------------------------------------------
FORWARD FORWARD FORWARD FORWARD
DATE AFC DATE LIBOR LIBOR + 200 BP DATE LIBOR LIBOR + 200 BP
- --------------------------- -------------------------------------------------- ---------------------------------------------
1 11/25/2004 5.19% 1 11/25/2004 341 113 69 7/25/2010 190 216
2 12/25/2004 6.06% 2 12/25/2004 367 169 70 8/25/2010 166 186
3 1/25/2005 5.86% 3 1/25/2005 343 139 71 9/25/2010 161 182
4 2/25/2005 5.86% 4 2/25/2005 331 127 72 10/25/2010 184 223
5 3/25/2005 6.49% 5 3/25/2005 346 160 73 11/25/2010 161 192
6 4/25/2005 5.88% 6 4/25/2005 302 99 74 12/25/2010 175 218
7 5/25/2005 6.07% 7 5/25/2005 314 117 75 1/25/2011 154 190
8 6/25/2005 5.88% 8 6/25/2005 295 93 76 2/25/2011 150 188
9 7/25/2005 6.07% 9 7/25/2005 292 96 77 3/25/2011 205 268
10 8/25/2005 5.88% 10 8/25/2005 280 79 78 4/25/2011 143 187
11 9/25/2005 5.88% 11 9/25/2005 275 74 79 5/25/2011 157 213
12 10/25/2005 6.08% 12 10/25/2005 272 79 80 6/25/2011 135 184
13 11/25/2005 5.89% 13 11/25/2005 261 62 81 7/25/2011 149 210
14 12/25/2005 6.09% 14 12/25/2005 265 72 82 8/25/2011 126 181
15 1/25/2006 5.89% 15 1/25/2006 246 49 83 9/25/2011 122 180
16 2/25/2006 5.89% 16 2/25/2006 238 41 84 10/25/2011 135 206
17 3/25/2006 6.53% 17 3/25/2006 266 88 85 11/25/2011 112 177
18 4/25/2006 5.90% 18 4/25/2006 224 29 86 12/25/2011 124 203
19 5/25/2006 6.10% 19 5/25/2006 229 41 87 1/25/2012 101 174
20 6/25/2006 5.91% 20 6/25/2006 210 17 88 2/25/2012 96 172
21 7/25/2006 6.11% 21 7/25/2006 215 28 89 3/25/2012 131 225
22 8/25/2006 5.91% 22 8/25/2006 196 7 90 4/25/2012 92 169
23 9/25/2006 5.92% 23 9/25/2006 189 2 91 5/25/2012 107 195
24 10/25/2006 7.15% 24 10/25/2006 304 195 92 6/25/2012 88 165
25 11/25/2006 6.92% 25 11/25/2006 294 179 93 7/25/2012 102 191
26 12/25/2006 7.14% 26 12/25/2006 301 193 94 8/25/2012 83 162
27 1/25/2007 6.91% 27 1/25/2007 281 167 95 9/25/2012 81 160
28 2/25/2007 6.90% 28 2/25/2007 275 162 96 10/25/2012 94 186
29 3/25/2007 7.64% 29 3/25/2007 312 218 97 11/25/2012 76 156
30 4/25/2007 7.06% 30 4/25/2007 281 210 98 12/25/2012 89 182
31 5/25/2007 7.29% 31 5/25/2007 289 225 99 1/25/2013 71 152
32 6/25/2007 7.05% 32 6/25/2007 268 198 100 2/25/2013 69 150
33 7/25/2007 7.27% 33 7/25/2007 277 213 101 3/25/2013 117 231
34 8/25/2007 7.03% 34 8/25/2007 256 186 102 4/25/2013 63 145
35 9/25/2007 7.03% 35 9/25/2007 250 180 103 5/25/2013 74 171
36 10/25/2007 7.62% 36 10/25/2007 302 258 104 6/25/2013 57 141
37 11/25/2007 7.37% 37 11/25/2007 295 245 105 7/25/2013 67 167
38 12/25/2007 7.60% 38 12/25/2007 305 262 106 8/25/2013 51 136
39 1/25/2008 7.34% 39 1/25/2008 283 235 107 9/25/2013 48 134
40 2/25/2008 7.33% 40 2/25/2008 278 230 108 10/25/2013 56 159
41 3/25/2008 7.82% 41 3/25/2008 305 269 109 11/25/2013 42 129
42 4/25/2008 7.43% 42 4/25/2008 282 248 110 12/25/2013 51 154
43 5/25/2008 7.66% 43 5/25/2008 293 265 111 1/25/2014 38 123
44 6/25/2008 7.40% 44 6/25/2008 271 238 112 2/25/2014 36 121
45 7/25/2008 7.63% 45 7/25/2008 282 256 113 3/25/2014 73 203
46 8/25/2008 7.37% 46 8/25/2008 260 228 114 4/25/2014 32 115
47 9/25/2008 7.35% 47 9/25/2008 254 223 115 5/25/2014 38 140
48 10/25/2008 7.66% 48 10/25/2008 276 258 116 6/25/2014 27 109
49 11/25/2008 7.39% 49 11/25/2008 262 239 117 7/25/2014 32 134
50 12/25/2008 7.62% 50 12/25/2008 274 257 118 8/25/2014 23 102
51 1/25/2009 7.36% 51 1/25/2009 252 229 119 9/25/2014 20 99
52 2/25/2009 7.34% 52 2/25/2009 247 224 120 10/25/2014 23 124
53 3/25/2009 8.11% 53 3/25/2009 296 291 121 11/25/2014 15 92
54 4/25/2009 7.38% 54 4/25/2009 250 228 122 12/25/2014 16 117
55 5/25/2009 7.61% 55 5/25/2009 262 248 123 1/25/2015 10 85
56 6/25/2009 7.34% 56 6/25/2009 240 220 124 2/25/2015 7 81
57 7/25/2009 7.56% 57 7/25/2009 253 240 125 3/25/2015 23 165
58 8/25/2009 7.30% 58 8/25/2009 230 212 126 4/25/2015 2 73
59 9/25/2009 225 209 127 5/25/2015 98
60 10/25/2009 274 271 128 6/25/2015 64
61 11/25/2009 252 245 129 7/25/2015 90
62 12/25/2009 266 266 130 8/25/2015 56
63 1/25/2010 242 237 131 9/25/2015 51
64 2/25/2010 236 233 132 10/25/2015 79
65 3/25/2010 291 305 133 11/25/2015 48
66 4/25/2010 237 247 134 12/25/2015 77
67 5/25/2010 252 268 135 1/25/2016 45
68 6/25/2010 176 193 136 2/25/2016 44
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10 [BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: A1
- ------------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- ------------------------------------------------------------------------------------------------------------------------------------
378,010,000 AAA/AAA/AAA FLT LBR1M 0.17% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- -----------------------------------------------------------------------------------------------------------
99.06250 0.270 0.797 0.965 1.112 1.247 1.376 1.499
99.12500 0.263 0.755 0.911 1.049 1.175 1.295 1.410
99.18750 0.256 0.713 0.858 0.986 1.103 1.214 1.321
99.25000 0.250 0.671 0.805 0.923 1.031 1.133 1.232
99.31250 0.243 0.629 0.752 0.860 0.959 1.053 1.143
99.37500 0.236 0.587 0.699 0.797 0.887 0.972 1.054
99.43750 0.230 0.545 0.646 0.734 0.815 0.892 0.965
99.50000 0.223 0.503 0.593 0.671 0.743 0.811 0.877
99.56250 0.216 0.462 0.540 0.608 0.671 0.731 0.788
99.62500 0.210 0.420 0.487 0.546 0.599 0.651 0.700
99.68750 0.203 0.378 0.434 0.483 0.528 0.570 0.611
99.75000 0.196 0.336 0.381 0.420 0.456 0.490 0.523
99.81250 0.190 0.295 0.328 0.358 0.384 0.410 0.435
99.87500 0.183 0.253 0.275 0.295 0.313 0.330 0.346
99.93750 0.177 0.212 0.223 0.232 0.241 0.250 0.258
100.00000 0.170 0.170 0.170 0.170 0.170 0.170 0.170
100.06250 0.163 0.128 0.117 0.108 0.099 0.090 0.082
100.12500 0.157 0.087 0.065 0.045 0.027 0.010 -0.006
100.18750 0.150 0.046 0.012 -0.017 -0.044 -0.069 -0.094
100.25000 0.144 0.004 -0.040 -0.079 -0.115 -0.149 -0.182
100.31250 0.137 -0.037 -0.093 -0.142 -0.186 -0.229 -0.269
100.37500 0.130 -0.079 -0.145 -0.204 -0.257 -0.308 -0.357
100.43750 0.124 -0.120 -0.198 -0.266 -0.328 -0.388 -0.445
100.50000 0.117 -0.161 -0.250 -0.328 -0.399 -0.467 -0.532
100.56250 0.111 -0.203 -0.302 -0.390 -0.470 -0.546 -0.620
100.62500 0.104 -0.244 -0.355 -0.452 -0.541 -0.626 -0.707
100.68750 0.098 -0.285 -0.407 -0.514 -0.612 -0.705 -0.794
100.75000 0.091 -0.326 -0.459 -0.576 -0.683 -0.784 -0.882
100.81250 0.084 -0.367 -0.511 -0.638 -0.753 -0.863 -0.969
100.87500 0.078 -0.408 -0.563 -0.700 -0.824 -0.942 -1.056
100.93750 0.071 -0.450 -0.615 -0.761 -0.895 -1.021 -1.143
WAL TO CALL (YEARS) 10.50 1.51 1.19 1.00 0.87 0.78 0.71
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10 [BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: A2
- ------------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- ------------------------------------------------------------------------------------------------------------------------------------
714,399,000 AAA/AAA/AAA FLT LBR1M 0.40% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- ------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- --------------------------------------------------------------------------------------------------------------------
99.06250 0.453 0.584 0.655 0.722 0.791 0.863 0.919
99.12500 0.449 0.572 0.637 0.701 0.765 0.832 0.884
99.18750 0.446 0.559 0.620 0.679 0.739 0.801 0.850
99.25000 0.442 0.547 0.603 0.657 0.712 0.770 0.815
99.31250 0.439 0.535 0.586 0.636 0.686 0.739 0.780
99.37500 0.435 0.522 0.569 0.614 0.660 0.708 0.746
99.43750 0.432 0.510 0.552 0.593 0.634 0.677 0.711
99.50000 0.428 0.498 0.535 0.571 0.608 0.647 0.676
99.56250 0.425 0.486 0.518 0.550 0.582 0.616 0.642
99.62500 0.421 0.473 0.501 0.528 0.556 0.585 0.607
99.68750 0.418 0.461 0.485 0.507 0.530 0.554 0.572
99.75000 0.414 0.449 0.468 0.486 0.504 0.523 0.538
99.81250 0.411 0.437 0.451 0.464 0.478 0.492 0.503
99.87500 0.407 0.424 0.434 0.443 0.452 0.461 0.469
99.93750 0.404 0.412 0.417 0.421 0.426 0.431 0.434
100.00000 0.400 0.400 0.400 0.400 0.400 0.400 0.400
100.06250 0.397 0.388 0.383 0.379 0.374 0.369 0.366
100.12500 0.393 0.376 0.366 0.357 0.348 0.339 0.331
100.18750 0.390 0.363 0.349 0.336 0.322 0.308 0.297
100.25000 0.386 0.351 0.333 0.315 0.296 0.277 0.262
100.31250 0.383 0.339 0.316 0.293 0.271 0.247 0.228
100.37500 0.379 0.327 0.299 0.272 0.245 0.216 0.194
100.43750 0.376 0.315 0.282 0.251 0.219 0.185 0.160
100.50000 0.372 0.303 0.265 0.230 0.193 0.155 0.125
100.56250 0.369 0.291 0.249 0.208 0.167 0.124 0.091
100.62500 0.365 0.279 0.232 0.187 0.142 0.094 0.057
100.68750 0.362 0.266 0.215 0.166 0.116 0.063 0.023
100.75000 0.358 0.254 0.198 0.145 0.090 0.033 -0.011
100.81250 0.355 0.242 0.182 0.124 0.065 0.002 -0.046
100.87500 0.351 0.230 0.165 0.102 0.039 -0.028 -0.080
100.93750 0.348 0.218 0.148 0.081 0.013 -0.059 -0.114
- --------------------------------------------------------------------------------------------------------------------
WAL TO CALL (YEARS) 22.64 5.43 3.84 3.00 2.45 2.06 1.83
- --------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10 [BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: A3
- -----------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- -----------------------------------------------------------------------------------------------------------------------------------
149,033,000 AAA/AAA/AAA FLT LBR1M 0.54% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- -----------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- --------------------------------------------------------------------------------------------------------------------
99.06250 0.585 0.628 0.663 0.699 0.737 0.777 0.849
99.12500 0.582 0.622 0.655 0.688 0.724 0.761 0.829
99.18750 0.579 0.616 0.646 0.678 0.711 0.745 0.808
99.25000 0.576 0.610 0.638 0.667 0.697 0.730 0.787
99.31250 0.573 0.604 0.630 0.656 0.684 0.714 0.767
99.37500 0.570 0.599 0.622 0.646 0.671 0.698 0.746
99.43750 0.567 0.593 0.613 0.635 0.658 0.682 0.725
99.50000 0.564 0.587 0.605 0.624 0.645 0.666 0.705
99.56250 0.561 0.581 0.597 0.614 0.632 0.650 0.684
99.62500 0.558 0.575 0.589 0.603 0.619 0.635 0.663
99.68750 0.555 0.569 0.581 0.593 0.605 0.619 0.643
99.75000 0.552 0.563 0.573 0.582 0.592 0.603 0.622
99.81250 0.549 0.558 0.564 0.572 0.579 0.587 0.602
99.87500 0.546 0.552 0.556 0.561 0.566 0.571 0.581
99.93750 0.543 0.546 0.548 0.551 0.553 0.556 0.561
100.00000 0.540 0.540 0.540 0.540 0.540 0.540 0.540
100.06250 0.537 0.534 0.532 0.529 0.527 0.524 0.519
100.12500 0.534 0.528 0.524 0.519 0.514 0.509 0.499
100.18750 0.531 0.523 0.516 0.508 0.501 0.493 0.478
100.25000 0.528 0.517 0.507 0.498 0.488 0.477 0.458
100.31250 0.525 0.511 0.499 0.487 0.475 0.461 0.438
100.37500 0.522 0.505 0.491 0.477 0.462 0.446 0.417
100.43750 0.519 0.499 0.483 0.466 0.449 0.430 0.397
100.50000 0.516 0.493 0.475 0.456 0.436 0.414 0.376
100.56250 0.513 0.488 0.467 0.445 0.423 0.399 0.356
100.62500 0.510 0.482 0.459 0.435 0.410 0.383 0.335
100.68750 0.507 0.476 0.451 0.425 0.397 0.368 0.315
100.75000 0.504 0.470 0.443 0.414 0.384 0.352 0.295
100.81250 0.501 0.464 0.435 0.404 0.371 0.336 0.274
100.87500 0.498 0.459 0.427 0.393 0.358 0.321 0.254
100.93750 0.496 0.453 0.419 0.383 0.345 0.305 0.234
- --------------------------------------------------------------------------------------------------------------------
WAL TO CALL (YEARS) 28.62 12.21 8.37 6.32 5.01 4.12 3.12
- --------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10 [BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: M1
- -----------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- -----------------------------------------------------------------------------------------------------------------------------------
77,415,000 AA/AA/AA FLT LBR1M 0.85% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- -----------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- ---------------------------------------------------------------------------------------------------------------------------------
99.06250 0.900 0.974 1.023 1.069 1.101 1.118 1.128
99.12500 0.896 0.966 1.012 1.054 1.084 1.100 1.110
99.18750 0.893 0.958 1.000 1.039 1.068 1.082 1.091
99.25000 0.890 0.949 0.988 1.025 1.051 1.064 1.072
99.31250 0.886 0.941 0.977 1.010 1.034 1.046 1.054
99.37500 0.883 0.933 0.965 0.995 1.017 1.028 1.035
99.43750 0.880 0.925 0.954 0.981 1.000 1.010 1.017
99.50000 0.876 0.916 0.942 0.966 0.984 0.992 0.998
99.56250 0.873 0.908 0.931 0.952 0.967 0.975 0.980
99.62500 0.870 0.900 0.919 0.937 0.950 0.957 0.961
99.68750 0.867 0.891 0.908 0.923 0.933 0.939 0.942
99.75000 0.863 0.883 0.896 0.908 0.917 0.921 0.924
99.81250 0.860 0.875 0.884 0.894 0.900 0.903 0.905
99.87500 0.857 0.867 0.873 0.879 0.883 0.886 0.887
99.93750 0.853 0.858 0.861 0.865 0.867 0.868 0.868
100.00000 0.850 0.850 0.850 0.850 0.850 0.850 0.850
100.06250 0.847 0.842 0.839 0.836 0.833 0.832 0.832
100.12500 0.843 0.834 0.827 0.821 0.817 0.815 0.813
100.18750 0.840 0.825 0.816 0.807 0.800 0.797 0.795
100.25000 0.837 0.817 0.804 0.792 0.783 0.779 0.776
100.31250 0.834 0.809 0.793 0.778 0.767 0.761 0.758
100.37500 0.830 0.801 0.781 0.763 0.750 0.744 0.739
100.43750 0.827 0.792 0.770 0.749 0.734 0.726 0.721
100.50000 0.824 0.784 0.758 0.734 0.717 0.708 0.703
100.56250 0.820 0.776 0.747 0.720 0.701 0.691 0.684
100.62500 0.817 0.768 0.736 0.706 0.684 0.673 0.666
100.68750 0.814 0.760 0.724 0.691 0.667 0.655 0.648
100.75000 0.811 0.751 0.713 0.677 0.651 0.638 0.629
100.81250 0.807 0.743 0.701 0.662 0.634 0.620 0.611
100.87500 0.804 0.735 0.690 0.648 0.618 0.603 0.593
100.93750 0.801 0.727 0.679 0.634 0.601 0.585 0.574
- ---------------------------------------------------------------------------------------------------------------------------------
WAL TO CALL (YEARS) 26.24 8.46 5.85 4.55 3.91 3.65 3.50
- ---------------------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10 [BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: M2
- ------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- ------------------------------------------------------------------------------------------------------------------------------
32,083,000 A/A/A FLT LBR1M 1.55% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- ------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- ---------------------------------------------------------------------------------------------------------------------------------
99.06250 1.604 1.678 1.727 1.773 1.809 1.832 1.843
99.12500 1.600 1.670 1.715 1.758 1.791 1.813 1.823
99.18750 1.597 1.661 1.703 1.743 1.774 1.794 1.803
99.25000 1.593 1.653 1.692 1.728 1.757 1.776 1.784
99.31250 1.589 1.644 1.680 1.713 1.739 1.757 1.764
99.37500 1.586 1.635 1.668 1.698 1.722 1.738 1.745
99.43750 1.582 1.627 1.656 1.684 1.705 1.719 1.725
99.50000 1.579 1.618 1.644 1.669 1.688 1.700 1.706
99.56250 1.575 1.610 1.632 1.654 1.670 1.681 1.686
99.62500 1.571 1.601 1.621 1.639 1.653 1.663 1.667
99.68750 1.568 1.593 1.609 1.624 1.636 1.644 1.647
99.75000 1.564 1.584 1.597 1.609 1.619 1.625 1.628
99.81250 1.561 1.576 1.585 1.594 1.601 1.606 1.608
99.87500 1.557 1.567 1.573 1.580 1.584 1.587 1.589
99.93750 1.554 1.559 1.562 1.565 1.567 1.569 1.569
100.00000 1.550 1.550 1.550 1.550 1.550 1.550 1.550
100.06250 1.546 1.541 1.538 1.535 1.533 1.531 1.531
100.12500 1.543 1.533 1.527 1.520 1.516 1.513 1.511
100.18750 1.539 1.524 1.515 1.506 1.499 1.494 1.492
100.25000 1.536 1.516 1.503 1.491 1.482 1.475 1.472
100.31250 1.532 1.508 1.491 1.476 1.464 1.457 1.453
100.37500 1.529 1.499 1.480 1.461 1.447 1.438 1.434
100.43750 1.525 1.491 1.468 1.447 1.430 1.419 1.414
100.50000 1.522 1.482 1.456 1.432 1.413 1.401 1.395
100.56250 1.518 1.474 1.445 1.417 1.396 1.382 1.376
100.62500 1.514 1.465 1.433 1.403 1.379 1.363 1.357
100.68750 1.511 1.457 1.421 1.388 1.362 1.345 1.337
100.75000 1.507 1.448 1.410 1.373 1.345 1.326 1.318
100.81250 1.504 1.440 1.398 1.359 1.328 1.308 1.299
100.87500 1.500 1.431 1.386 1.344 1.311 1.289 1.280
100.93750 1.497 1.423 1.375 1.329 1.294 1.271 1.260
- ---------------------------------------------------------------------------------------------------------------------------------
WAL TO CALL (YEARS) 26.24 8.46 5.85 4.53 3.85 3.50 3.37
- ---------------------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: M3
- -----------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- -----------------------------------------------------------------------------------------------------------------------------------
13,251,000 A-/A-/A(lo) FLT LBR1M 1.70% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- -----------------------------------------------------------------------------------------------------------------------------------
99.06250 1.755 1.829 1.878 1.924 1.961 1.985 2.001
99.12500 1.751 1.821 1.866 1.909 1.944 1.966 1.981
99.18750 1.748 1.812 1.854 1.894 1.926 1.947 1.961
99.25000 1.744 1.803 1.842 1.879 1.909 1.928 1.941
99.31250 1.740 1.795 1.830 1.864 1.891 1.909 1.921
99.37500 1.737 1.786 1.818 1.849 1.874 1.890 1.900
99.43750 1.733 1.777 1.807 1.834 1.856 1.871 1.880
99.50000 1.729 1.769 1.795 1.819 1.839 1.852 1.860
99.56250 1.726 1.760 1.783 1.804 1.822 1.833 1.840
99.62500 1.722 1.752 1.771 1.789 1.804 1.814 1.820
99.68750 1.718 1.743 1.759 1.774 1.787 1.795 1.800
99.75000 1.715 1.734 1.747 1.759 1.769 1.776 1.780
99.81250 1.711 1.726 1.735 1.745 1.752 1.757 1.760
99.87500 1.707 1.717 1.724 1.730 1.735 1.738 1.740
99.93750 1.704 1.709 1.712 1.715 1.717 1.719 1.720
100.00000 1.700 1.700 1.700 1.700 1.700 1.700 1.700
100.06250 1.696 1.691 1.688 1.685 1.683 1.681 1.680
100.12500 1.693 1.683 1.676 1.670 1.665 1.662 1.660
100.18750 1.689 1.674 1.665 1.656 1.648 1.643 1.640
100.25000 1.685 1.666 1.653 1.641 1.631 1.624 1.620
100.31250 1.682 1.657 1.641 1.626 1.613 1.606 1.600
100.37500 1.678 1.649 1.629 1.611 1.596 1.587 1.580
100.43750 1.675 1.640 1.618 1.596 1.579 1.568 1.560
100.50000 1.671 1.632 1.606 1.582 1.562 1.549 1.541
100.56250 1.667 1.623 1.594 1.567 1.544 1.530 1.521
100.62500 1.664 1.615 1.582 1.552 1.527 1.511 1.501
100.68750 1.660 1.606 1.571 1.537 1.510 1.493 1.481
100.75000 1.657 1.598 1.559 1.523 1.493 1.474 1.461
100.81250 1.653 1.589 1.547 1.508 1.476 1.455 1.441
100.87500 1.649 1.581 1.536 1.493 1.459 1.436 1.422
100.93750 1.646 1.572 1.524 1.478 1.441 1.417 1.402
- -----------------------------------------------------------------------------------------------------------------------------------
WAL TO CALL
(YEARS) 26.24 8.46 5.85 4.53 3.82 3.47 3.27
- -----------------------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: M4
- -----------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- -----------------------------------------------------------------------------------------------------------------------------------
6,974,000 BBB+/BBB+/BBB(Hi) FLT LBR1M 2.35% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
PX 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- -----------------------------------------------------------------------------------------------------------------------------------
99.06250 2.409 2.483 2.532 2.578 2.615 2.642 2.656
99.12500 2.405 2.474 2.519 2.562 2.597 2.623 2.635
99.18750 2.401 2.465 2.507 2.547 2.579 2.603 2.615
99.25000 2.397 2.456 2.495 2.532 2.562 2.584 2.595
99.31250 2.393 2.447 2.483 2.517 2.544 2.564 2.574
99.37500 2.389 2.439 2.471 2.501 2.526 2.545 2.554
99.43750 2.385 2.430 2.459 2.486 2.509 2.525 2.533
99.50000 2.381 2.421 2.447 2.471 2.491 2.506 2.513
99.56250 2.377 2.412 2.434 2.456 2.473 2.486 2.492
99.62500 2.374 2.403 2.422 2.441 2.456 2.467 2.472
99.68750 2.370 2.394 2.410 2.426 2.438 2.447 2.452
99.75000 2.366 2.385 2.398 2.410 2.420 2.428 2.431
99.81250 2.362 2.376 2.386 2.395 2.403 2.408 2.411
99.87500 2.358 2.368 2.374 2.380 2.385 2.389 2.391
99.93750 2.354 2.359 2.362 2.365 2.368 2.369 2.370
100.00000 2.350 2.350 2.350 2.350 2.350 2.350 2.350
100.06250 2.346 2.341 2.338 2.335 2.332 2.331 2.330
100.12500 2.342 2.332 2.326 2.320 2.315 2.311 2.309
100.18750 2.338 2.324 2.314 2.305 2.297 2.292 2.289
100.25000 2.334 2.315 2.302 2.290 2.280 2.273 2.269
100.31250 2.331 2.306 2.290 2.275 2.262 2.253 2.249
100.37500 2.327 2.297 2.278 2.260 2.245 2.234 2.228
100.43750 2.323 2.288 2.266 2.245 2.227 2.215 2.208
100.50000 2.319 2.280 2.254 2.230 2.210 2.195 2.188
100.56250 2.315 2.271 2.242 2.215 2.192 2.176 2.168
100.62500 2.311 2.262 2.230 2.200 2.175 2.157 2.148
100.68750 2.307 2.253 2.218 2.185 2.158 2.137 2.128
100.75000 2.303 2.245 2.206 2.170 2.140 2.118 2.107
100.81250 2.299 2.236 2.194 2.155 2.123 2.099 2.087
100.87500 2.296 2.227 2.182 2.140 2.105 2.080 2.067
100.93750 2.292 2.218 2.170 2.125 2.088 2.061 2.047
- -----------------------------------------------------------------------------------------------------------------------------------
WAL TO CALL (YEARS) 26.24 8.46 5.85 4.53 3.82 3.42 3.26
- -----------------------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: M5
- ----------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- ----------------------------------------------------------------------------------------------------------------------------------
6,974,000 BBB/BBB/BBB FLT LBR1M 3.50% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------
Px 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- ----------------------------------------------------------------------------------------------------------
93.33323 3.995 4.550 4.913 5.255 5.529 5.727 5.845
93.39573 3.990 4.540 4.899 5.238 5.509 5.705 5.822
93.45823 3.986 4.530 4.885 5.221 5.489 5.684 5.799
93.52073 3.981 4.519 4.871 5.204 5.469 5.662 5.776
93.58323 3.976 4.509 4.857 5.187 5.450 5.640 5.754
93.64573 3.971 4.499 4.844 5.170 5.430 5.619 5.731
93.70823 3.966 4.489 4.830 5.153 5.410 5.597 5.708
93.77073 3.961 4.478 4.816 5.136 5.390 5.575 5.685
93.83323 3.956 4.468 4.802 5.119 5.371 5.554 5.663
93.89573 3.952 4.458 4.789 5.102 5.351 5.532 5.640
93.95823 3.947 4.448 4.775 5.085 5.332 5.511 5.617
94.02073 3.942 4.437 4.761 5.068 5.312 5.489 5.595
94.08323 3.937 4.427 4.748 5.051 5.292 5.468 5.572
94.14573 3.932 4.417 4.734 5.034 5.273 5.446 5.549
94.20823 3.927 4.407 4.720 5.017 5.253 5.425 5.527
94.27073 3.923 4.397 4.707 5.000 5.234 5.403 5.504
94.33323 3.918 4.387 4.693 4.983 5.214 5.382 5.482
94.39573 3.913 4.377 4.679 4.966 5.194 5.360 5.459
94.45823 3.908 4.366 4.666 4.949 5.175 5.339 5.437
94.52073 3.903 4.356 4.652 4.932 5.155 5.318 5.414
94.58323 3.899 4.346 4.639 4.915 5.136 5.296 5.392
94.64573 3.894 4.336 4.625 4.898 5.117 5.275 5.369
94.70823 3.889 4.326 4.611 4.882 5.097 5.254 5.347
94.77073 3.884 4.316 4.598 4.865 5.078 5.232 5.324
94.83323 3.879 4.306 4.584 4.848 5.058 5.211 5.302
94.89573 3.875 4.296 4.571 4.831 5.039 5.190 5.279
94.95823 3.870 4.286 4.557 4.814 5.019 5.168 5.257
95.02073 3.865 4.276 4.544 4.797 5.000 5.147 5.234
95.08323 3.860 4.266 4.530 4.781 4.981 5.126 5.212
95.14573 3.856 4.256 4.517 4.764 4.961 5.105 5.190
95.20823 3.851 4.245 4.503 4.747 4.942 5.083 5.167
- ----------------------------------------------------------------------------------------------------------
WAL to call (years) 26.18 8.25 5.71 4.42 3.74 3.36 3.17
- ----------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: M6
- -----------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- -----------------------------------------------------------------------------------------------------------------------------------
6,974,000 BBB-/BBB-/BBB(lo) FLT LBR1M 3.50% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- -----------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------
Px 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- -------------------------------------------------------------------------------------------------------------------
88.06250 4.430 5.561 6.283 6.955 7.475 7.822 7.932
88.12500 4.424 5.549 6.268 6.935 7.452 7.797 7.907
88.18750 4.419 5.538 6.252 6.916 7.430 7.773 7.882
88.25000 4.414 5.526 6.236 6.896 7.408 7.749 7.857
88.31250 4.408 5.515 6.221 6.877 7.385 7.725 7.832
88.37500 4.403 5.503 6.205 6.857 7.363 7.700 7.808
88.43750 4.398 5.491 6.189 6.838 7.341 7.676 7.783
88.50000 4.392 5.480 6.174 6.819 7.319 7.652 7.758
88.56250 4.387 5.468 6.158 6.799 7.296 7.628 7.733
88.62500 4.382 5.457 6.143 6.780 7.274 7.604 7.709
88.68750 4.376 5.445 6.127 6.761 7.252 7.580 7.684
88.75000 4.371 5.433 6.111 6.741 7.230 7.556 7.659
88.81250 4.366 5.422 6.096 6.722 7.208 7.532 7.635
88.87500 4.361 5.410 6.080 6.703 7.186 7.508 7.610
88.93750 4.355 5.399 6.065 6.684 7.164 7.484 7.585
89.00000 4.350 5.387 6.049 6.664 7.141 7.460 7.561
89.06250 4.345 5.376 6.034 6.645 7.119 7.436 7.536
89.12500 4.340 5.364 6.018 6.626 7.097 7.412 7.512
89.18750 4.334 5.353 6.003 6.607 7.075 7.388 7.487
89.25000 4.329 5.341 5.987 6.588 7.053 7.364 7.463
89.31250 4.324 5.330 5.972 6.569 7.031 7.340 7.438
89.37500 4.319 5.318 5.956 6.549 7.009 7.316 7.414
89.43750 4.313 5.307 5.941 6.530 6.987 7.292 7.389
89.50000 4.308 5.296 5.926 6.511 6.965 7.268 7.365
89.56250 4.303 5.284 5.910 6.492 6.943 7.245 7.340
89.62500 4.298 5.273 5.895 6.473 6.922 7.221 7.316
89.68750 4.292 5.261 5.879 6.454 6.900 7.197 7.291
89.75000 4.287 5.250 5.864 6.435 6.878 7.173 7.267
89.81250 4.282 5.238 5.849 6.416 6.856 7.149 7.243
89.87500 4.277 5.227 5.833 6.397 6.834 7.126 7.218
89.93750 4.272 5.216 5.818 6.378 6.812 7.102 7.194
- -------------------------------------------------------------------------------------------------------------------
WAL to call (years) 25.87 7.60 5.28 4.10 3.50 3.18 3.09
- -------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO DM TABLE
BOND CLASS: M7A
- ----------------------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE IDX IDX MGN ACRU INT ACT DLY SETTLE CALL PCT FST ACRU DT FST PMT DT
- ----------------------------------------------------------------------------------------------------------------------------------
2,883,000 BBB-/NR/NR FLT LBR1M 3.50% 0 0 10/21/2004 10% 10/21/2004 11/25/2004
- ----------------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------
Px 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- -------------------------------------------------------------------------------------------------------------------
82.06250 5.007 7.364 8.743 9.856 10.352 10.413 10.413
82.12500 5.001 7.349 8.722 9.831 10.325 10.386 10.386
82.18750 4.995 7.334 8.702 9.807 10.298 10.359 10.359
82.25000 4.989 7.318 8.682 9.782 10.272 10.333 10.333
82.31250 4.983 7.303 8.661 9.757 10.245 10.306 10.306
82.37500 4.977 7.288 8.641 9.733 10.219 10.279 10.279
82.43750 4.971 7.273 8.620 9.708 10.192 10.252 10.252
82.50000 4.965 7.258 8.600 9.684 10.166 10.226 10.226
82.56250 4.959 7.243 8.580 9.659 10.139 10.199 10.199
82.62500 4.953 7.228 8.559 9.634 10.113 10.172 10.172
82.68750 4.947 7.213 8.539 9.610 10.086 10.146 10.146
82.75000 4.941 7.198 8.519 9.585 10.060 10.119 10.119
82.81250 4.935 7.183 8.499 9.561 10.034 10.092 10.092
82.87500 4.929 7.168 8.478 9.536 10.007 10.066 10.066
82.93750 4.923 7.153 8.458 9.512 9.981 10.039 10.039
83.00000 4.917 7.138 8.438 9.487 9.955 10.013 10.013
83.06250 4.911 7.124 8.418 9.463 9.928 9.986 9.986
83.12500 4.905 7.109 8.398 9.439 9.902 9.960 9.960
83.18750 4.899 7.094 8.377 9.414 9.876 9.933 9.933
83.25000 4.893 7.079 8.357 9.390 9.850 9.907 9.907
83.31250 4.887 7.064 8.337 9.366 9.823 9.880 9.880
83.37500 4.881 7.049 8.317 9.341 9.797 9.854 9.854
83.43750 4.875 7.034 8.297 9.317 9.771 9.827 9.827
83.50000 4.869 7.019 8.277 9.293 9.745 9.801 9.801
83.56250 4.863 7.005 8.257 9.268 9.719 9.775 9.775
83.62500 4.857 6.990 8.237 9.244 9.693 9.748 9.748
83.68750 4.851 6.975 8.217 9.220 9.667 9.722 9.722
83.75000 4.845 6.960 8.197 9.196 9.641 9.696 9.696
83.81250 4.839 6.946 8.177 9.172 9.615 9.669 9.669
83.87500 4.834 6.931 8.157 9.147 9.589 9.643 9.643
83.93750 4.828 6.916 8.137 9.123 9.563 9.617 9.617
- -------------------------------------------------------------------------------------------------------------------
WAL to call (years) 24.42 6.04 4.23 3.40 3.13 3.09 3.09
- -------------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
FFML 04-FF10
[BANC OF AMERICA SECURITIES LOGO]
FOR INTERNAL USE ONLY
PRICE TO YLD TABLE
BOND CLASS: M7F
- ------------------------------------------------------------------------------------------------------------------
BEG BAL RTG (S/F/D) INT TYPE CPN ACRU INT ACT DLY SETTLE FST ACRU DT FST PMT DT
- ------------------------------------------------------------------------------------------------------------------
2,000,000 BBB-/NR/NR FIX 5.50% 6,111 24 10/21/2004 10/1/2004 11/25/2004
- ------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------
Px 0% PPC 50% PPC 75% PPC 100% PPC 125% PPC 150% PPC 175% PPC
- ---------------------------------------------------------------------------------------------------------------
80.28020 7.293 9.983 11.574 12.864 13.440 13.511 13.511
80.34270 7.287 9.967 11.551 12.837 13.411 13.482 13.482
80.40520 7.280 9.950 11.529 12.810 13.382 13.453 13.453
80.46770 7.273 9.934 11.507 12.783 13.353 13.423 13.423
80.53020 7.267 9.918 11.485 12.756 13.324 13.394 13.394
80.59270 7.260 9.901 11.463 12.729 13.295 13.365 13.365
80.65520 7.254 9.885 11.441 12.702 13.266 13.336 13.336
80.71770 7.247 9.869 11.419 12.676 13.237 13.307 13.307
80.78020 7.241 9.853 11.396 12.649 13.208 13.277 13.277
80.84270 7.234 9.836 11.374 12.622 13.179 13.248 13.248
80.90520 7.228 9.820 11.352 12.595 13.150 13.219 13.219
80.96770 7.221 9.804 11.330 12.569 13.121 13.190 13.190
81.03020 7.215 9.788 11.308 12.542 13.093 13.161 13.161
81.09270 7.208 9.772 11.286 12.515 13.064 13.132 13.132
81.15520 7.202 9.756 11.265 12.489 13.035 13.103 13.103
81.21770 7.195 9.739 11.243 12.462 13.006 13.074 13.074
81.28020 7.189 9.723 11.221 12.435 12.978 13.045 13.045
81.34270 7.182 9.707 11.199 12.409 12.949 13.016 13.016
81.40520 7.176 9.691 11.177 12.382 12.920 12.987 12.987
81.46770 7.169 9.675 11.155 12.356 12.892 12.958 12.958
81.53020 7.163 9.659 11.133 12.329 12.863 12.930 12.930
81.59270 7.157 9.643 11.112 12.303 12.835 12.901 12.901
81.65520 7.150 9.627 11.090 12.276 12.806 12.872 12.872
81.71770 7.144 9.611 11.068 12.250 12.778 12.843 12.843
81.78020 7.137 9.595 11.046 12.224 12.749 12.815 12.815
81.84270 7.131 9.579 11.025 12.197 12.721 12.786 12.786
81.90520 7.125 9.563 11.003 12.171 12.692 12.757 12.757
81.96770 7.118 9.547 10.981 12.145 12.664 12.729 12.729
82.03020 7.112 9.531 10.960 12.118 12.636 12.700 12.700
82.09270 7.105 9.515 10.938 12.092 12.607 12.671 12.671
82.15520 7.099 9.500 10.916 12.066 12.579 12.643 12.643
- ---------------------------------------------------------------------------------------------------------------
WAL to call (years) 24.42 6.04 4.23 3.40 3.13 3.09 3.09
- ---------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.