--------------------------------------------------------------------------------
GMAC RFC [GRAPHIC OMITTED][GRAPHIC OMITTED]
RFMSII SERIES 2002-HS3 TRUST
HOME EQUITY LOAN-BACKED TERM NOTES
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
DEPOSITOR
RESIDENTIAL FUNDING CORPORATION
MASTER SERVICER
--------------------------------------------------------------------------------
The following is a preliminary Term Sheet. All terms and statements are
subject to change.
XXXXXXX XXXXX XXXXXX A MEMBER OF CITICORP (GRAPHIC OMITTED)
Any transactions in the certificates will be effected through Residential
Funding Securities Corporation.
SEPTEMBER 19, 2002
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
The information herein has been provided solely by Xxxxxxx Xxxxx Xxxxxx ("SSB")
based on information with respect to the mortgage loans provided by Residential
Funding Corporation ("RFC") and its affiliates. Neither RFC nor any of its
affiliates makes any representation as to the accuracy or completeness of the
information herein. The information herein is preliminary and supersedes any
prior information and will be superseded by the prospectus supplement and by any
other information subsequently filed with the Securities and Exchange Commission
(SEC). All assumptions and information in this report reflect SSB's judgment as
of this date and are subject to change. All analyses are based on certain
assumptions noted herein and different assumptions could yield substantially
different results. You are cautioned that there is no universally accepted
method for analyzing financial instruments. You should review the assumptions;
there may be differences between these assumptions and your actual business
practices. Further, SSB does not guarantee any results and there is no guarantee
as to the liquidity of the instruments involved in this analysis. The decision
to adopt any strategy remains your responsibility. SSB (or any of its
affiliates) or their officers, directors, analysts or employees may have
positions in securities, commodities or derivative instruments thereon referred
to here, and may, as principal or agent, buy or sell such securities,
commodities or derivative instruments. In addition, SSB may make a market in the
securities referred to herein. Neither the information nor the assumptions
reflected herein should be construed to be, or constitute, an offer to sell or
buy or a solicitation of an offer to sell or buy any securities, commodities or
derivative instruments mentioned herein. No sale of any securities, commodities
or derivative instruments should be consummated without the purchaser first
having received a prospectus and, if required prospectus supplement. Finally,
SSB has not addressed the legal, accounting and tax implications of the analysis
with respect to you, and SSB strongly urges you to seek advice from your
counsel, accountant and tax advisor. A final Prospectus and Prospectus
Supplement may be obtained by contacting SSB's Syndicate Desk at (000) 000-0000.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
STRUCTURE OVERVIEW
-----------------------------------------------------------------------------------------------------
TO 10% CALL(1)
-----------------------------------------------------------------------------------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
CLASS NOTE RATE INITIAL NOTE EXPECTED RATING DESIGNATIONS ASSUMED FINAL PAYMENT
BALANCE(2)(3) (XXXXX'X/S&P) DATE
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
CLASS I NOTES
-----------------------------------------------------------------------------------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-I-1 Adjustable Aaa/AAA Senior/Adjustable June 25, 2016
$83,000,000 Rate
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-I-2 Fixed Aaa/AAA Senior/Fixed Rate August 25, 2017
$35,000,000
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-I-3 Fixed Aaa/AAA Senior/Fixed Rate August 25, 2017
$37,000,000
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-I-4 Fixed Aaa/AAA Senior/Fixed Rate August 25, 2017
$37,000,000
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-I-5 Fixed Aaa/AAA Senior/Fixed Rate August 25, 2032
$10,500,000
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-I-6 (NAS) Fixed Aaa/AAA Senior/Lockout/Fixed August 25, 2017
$22,500,000 Rate
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-I-IO Fixed Aaa/AAA Senior / March 25, 2005
$74,300,000 Interest Only
(4)
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------------------- ------------- ------------------ ---------------- ------------------------
TOTAL CLASS I NOTES:
$225,000,000
-------------------------- ------------- ------------------ ---------------- ------------------------
-------------------------- ------------- ------------------ ---------------- ------------------------
CLASS II NOTES
-------------------------- ------------- ------------------ ---------------- ------------------------
-------------- ----------- ------------- ------------------ ---------------- ------------------------
A-II Adjustable $207,500,000 Aaa/AAA Senior/Adjustable August 25, 2032
Rate
-------------- ----------- ------------- ------------------ ---------------- ------------------------
-------------------------- ------------- ------------------ ---------------- ------------------------
-------------------------- ------------- ------------------ ---------------- ------------------------
-------------------------- ------------- ------------------ ---------------- ------------------------
TOTAL OFFERED NOTES: $432,500,000
-------------- ----------- ------------- ------------------ ---------------- ------------------------
__________
(1) Notes will be priced to a 10% call.
(2) Class sizes subject to a variance of +/-5.0%.
(3) Group I prepayment speed- Initial 4% CPR ramping up to 28% CPR over the
first 12 months, remaining at 28% CPR thereafter. Group II prepayment
speed-35% CPR, 15% Constant Draw Rate.
(4) Initial Notional Amount; see section entitled "Class A-I-IO Scheduled
Notional Amount."
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
SECURITIES: $225,000,000 adjustable- and fixed-rate Class A-I-1 through Class
A-I-6 Notes and the Class A-I-IO Notes (together, the "Class I Notes"), are
being issued concurrently with $207,500,000 of adjustable-rate Class A-II
Notes (the "Class II Notes", and together with the Class I Notes, the
"Notes"). The Class I Notes are primarily backed by closed-end fixed-rate
home equity mortgage loans (the "Group I Loans" or "HELs"), and the Class
II Notes are primarily backed by adjustable-rate home equity revolving
credit loans (the "Group II Loans" or "HELOCs").
VARIABLE FUNDING NOTES: The trust will also issue Variable Funding Notes backed
by the Group II Loans. These Variable Funding Notes will not be offered by
the prospectus supplement.
ISSUER: RFMSII Series 2002-HS3 Trust.
DEPOSITOR: Residential Funding Mortgage Securities II, Inc. ("RFMSII").
SELLER & MASTER SERVICER: Residential Funding Corporation (the "Seller", "Master
Servicer", or "RFC"), an indirect wholly-owned subsidiary of GMAC Mortgage
Group, Inc.
SUBSERVICER: HomeComings Financial Network, Inc. ("HomeComings"), an affiliate
of the Depositor.
OWNER TRUSTEE: Wilmington Trust Company
INDENTURE TRUSTEE: JPMorgan Chase Bank
CUT-OFF DATE: This information presented is based upon the Cut-Off Date of
September 1, 2002.
EXPECTED TIMING: o Pricing Date: On or about September [19], 2002.
o Closing Date: On or about September 27, 2002.
o First Payment Date: October 25, 2002.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
GROUP I CUT-OFF DATE BALANCE:
The aggregate principal balance of the Group I home equity mortgage loans
as of the close of business on the day prior to the Cut-Off Date.
GROUP II CUT-OFF DATE BALANCE:
The aggregate principal balance of the Group II home equity revolving
credit loans as of the close of business on the day prior to the Cut-Off
Date.
COLLATERAL DESCRIPTION:
o Two loan groups: Group I (fixed-rate HELs) and Group II
(adjustable-rate HELOCs). The information below regarding each loan
group is based on a preliminary pool of assets. The weighted average
characteristics of the final pools are not expected to materially
change at closing.
o Group I is comprised of 5,908 conventional fixed-rate, closed-end home
equity mortgage loans totaling $220,029,946.55, secured primarily by
2n erties, with CLTVs not in excess of 100%. The aggregate principal
balance of the Group I Loans is expected to be approximately
$225,000,000.
o Group II is comprised of 5,529 adjustable-rate home equity revolving
credit loans totaling $205,661,721.27, secured primarily by 2nd liens
on one- to four-family residential properties, with CLTVs not in
excess of 100%. The aggregate principal balance of the Group II Loans
is expected to be approximately $205,000,000.
STRUCTURE:
o Group I - Wrapped with financial guaranty insurance policy. With I/O
Class and NAS Class. Supported by fixed-rate collateral. Class A-I-1
will be issued as adjustable-rate Notes and Classes A-I-2 through
A-I-6 and Class A-I-IO will be issued as fixed-rate Notes.
o Group II - Wrapped with financial guaranty insurance policy.
Adjustable-rate pass-through supported by adjustable-rate revolving
collateral.
PRICING PREPAYMENT ASSUMPTION:
o Group I - Initial 4% CPR ramping up by approximately 2.1818% per annum
in each month to 28% CPR over the first 12 months, remaining at 28%
CPR thereafter.
o Group II - 35% CPR, 15% Constant Draw Rate.
OPTIONAL REDEMPTION: With respect to each loan group, the Master Servicer will
have the option to purchase all of the remaining loans in that loan group
or all of the related Notes on the payment date on which the aggregate
principal balance of an individual loan group after applying payments
received in the related collection period falls below 10% of its original
aggregate principal balance as of the Cut-Off Date. An optional redemption
affected in one loan group will not require an optional redemption to be
affected in the other group. Please refer to "Class A-I-IO Notes Yield
Considerations" regarding the effects of the optional redemption on the
Class A-I-IO Notes.
PAYMENT DATE: 25th of each month (or the next business day if the 25th day is
not a business day) commencing in October 2002.
ADVANCES: There is no required advancing of delinquent principal or interest on
the home equity mortgage loans by the Master Servicer, the Subservicer, the
Trustee, Credit Enhancer or any other entity.
MASTER SERVICING FEE: 0.08% per annum.
SUBSERVICING FEE: 0.50% per annum.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
CREDIT ENHANCEMENT: Credit Enhancement with respect to the Notes will be
provided by: GROUP I:
o Group I excess interest,
o Limited cross-collateralization,
o Overcollateralization, and
o 100% FGIC policy GROUP II:
o Group II excess interest,
o Limited cross-collateralization,
o Overcollateralization, and
o 100% FGIC policy
Excess Interest: Because the mortgagors are expected to pay more interest on the
home equity mortgage loans than is necessary to pay interest on the Notes,
along with fees and expenses of the trust each month, there may be excess
interest. On each Payment Date this excess interest from the related loan
group may be used to protect the Notes against most types of losses by
making an additional payment of principal up to the amount of the losses.
Excess interest from the non-related loan group may also be available to
cover some of these losses.
Overcollateralization: GROUP I:
On the Closing Date, the initial
Overcollateralization Amount for the Group I Loans
will be equal to 0.00%. Commencing with the third
Payment Date, Excess Interest from the Group I Loans
will be applied, to the extent not used to cover
current or previously unpaid losses, to make
accelerated payments of principal to the Class I
Notes then entitled to receive payments of principal,
until the principal balance of the Group I Loans
exceeds the aggregate Note Balance of the Group I
Notes by a specified amount. This excess represents
Overcollateralization. The Group I "Required
Overcollateralization Amount" will be equal to 1.50%
of the aggregate Group I Cut-Off Date Balance. The
Group I Required Overcollateralization Amount may
decrease in the future pursuant to the indenture.
GROUP II:
On the Closing Date, the principal amount of the
Class A-II Notes issued will exceed the principal
balance of the Group II loans by approximately 1.25%.
Beginning on the first payment date, any Group II
Excess Interest not used to cover current or
previously unpaid losses will be paid as principal to
the Class A-II Notes to reduce the initial
undercollateralization to zero and to ultimately
build to the Group II "Required Overcollateralization
Amount" of 1.00% of the aggregate Group II Cut-off
Date Balance. The Group II Required
Overcollateralization Amount may decrease in the
future pursuant to the indenture.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
TRANSACTION OVERVIEW (CONTINUED)
Group I and Group II GROUP I:
Policy: The Group I financial guaranty insurance policy (the
"Group I Policy") will provide 100% coverage of
timely interest at the Class I note rates, principal
portions of any allocated realized losses, and
ultimate payment of principal by the latest stated
final maturity date for the Class I Notes. The Group
I Policy will not cover any prepayment interest
shortfalls or Relief Act Shortfalls nor any reduction
in accrued interest due to the application of the
Group I Net WAC Rate and is for the benefit of the
Class I Noteholders only. GROUP II:
The Group II financial guaranty insurance policy (the
"Group II Policy") will provide 100% coverage of
timely interest at the Class A-II note rate,
principal portions of any allocated realized losses,
and ultimate payment of principal by the latest
stated final maturity date for the Class A-II Notes.
The Group II Policy will not cover any Relief Act
Shortfalls nor any reduction in accrued interest due
to the application of the Group II Net WAC Rate and
is for the benefit of the Class II Noteholders only.
CREDIT ENHANCER:
Financial Guaranty Insurance Company ("FGIC"), rated
Aaa/AAA/AAA by Xxxxx'x, Standard & Poor's and Fitch Ratings,
respectively.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
PRIORITY OF DISTRIBUTIONS
GROUP I: On each payment date, principal and interest
collections with respect to the Group I Loans and
payments made under the Group I Policy will be
allocated from the payment account in the following
order of priority:
(1) To pay accrued interest due on the Class I Notes other
than prepayment interest shortfalls and Relief Act
Shortfalls;
(2) To pay as principal on the Class I Notes (other than
the Class A-I-IO Notes), an amount equal to the Group I
principal collection distribution amount for such
payment date;
(3) To pay as principal on the Class I Notes (other than
the Class A-I-IO Notes), an amount equal to the Group I
liquidation loss distribution amount for such payment
date;
(4) To pay the Credit Enhancer the premium for the Group I
Policy and any previously unpaid premiums for the Group
I Policy, with interest;
(5) To reimburse the Credit Enhancer for certain prior
draws made on the Group I Policy, other than those
attributable to excess loss amounts, with interest;
(6) Other than on the first two payment dates, to pay as
additional principal on the Class I Notes (other than
the Class A-I-IO Notes), an amount (if any) necessary
to bring the amount of Overcollateralization up to the
Group I Required Overcollateralization Amount for such
payment date;
(7) To pay the Credit Enhancer any other amounts owed to it
under the Group I Policy;
(8) To pay the Class I Notes any prepayment interest
shortfalls on the Group I Loans with respect to the
current period or remaining unpaid from any previous
collection periods with interest;
(9) To pay principal on the Class II Notes and Variable
Funding Notes, pro rata, any current period special
hazard, bankruptcy and fraud loss amounts up to certain
amounts specified in the indenture to the extent not
covered by current period collections on the Group II
Loans; and
(10) To pay any remaining amounts to the Certificateholders.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
PRIORITY OF DISTRIBUTIONS (CONTINUED)
GROUP II:
On each payment date, principal and interest collections
with respect to the Group II Loans and payments made under
the Group II Policy will be allocated from the payment
account in the following order of priority:
(1) To pay accrued interest on the Class II Notes and the
Variable Funding Notes, pro rata, other than Basis Risk
Shortfalls or Relief Act Shortfalls;
(2) To pay principal on the Class II Notes and Variable
Funding Notes, pro rata, an amount equal to the Group
II principal collection distribution amount for that
payment date;
(3) To pay as principal on the Class II Notes and Variable
Funding Notes, pro rata, an amount equal to the Group
II liquidation loss distribution amount for such
payment date;
(4) To pay the Credit Enhancer premium for the Group II
Policy and any previously unpaid premiums for the Group
II Policy, with interest;
(5) To reimburse the Credit Enhancer for certain prior
draws made on the Group II Policy, other than those
attributable to excess loss amounts, with interest;
(6) To pay principal on the Class II Notes and Variable
Funding Notes, pro rata, an additional amount, if
necessary, to bring the amount of Overcollateralization
up to the Group II Required Overcollateralization
Amount for that payment date;
(7) To pay the Credit Enhancer provider any other amounts
owed to it under the Group II Policy;
(8) To pay the Class II Notes and Variable Funding Notes,
pro rata, any current period and previously unpaid
Basis Risk Shortfalls, with interest, based on the
related shortfall amounts;
(9) To pay principal on the Class I Notes any current
period special hazard, bankruptcy and fraud loss
amounts up to certain amounts specified in the
indenture to the extent not covered by current period
collections on the Group I Loans; and
(10) To pay any remaining amounts to the Certificateholders.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS
INTEREST ACCRUAL PERIOD:
o Class A-I-1 and Class A-II Notes: from and including
the preceding payment date (or, for the first
distribution period, the closing date) to but excluding
the related payment date on an actual/360 basis.
o Classes A-I-2 through A-I-6 and Class A-I-IO Notes:
calendar month preceding the related payment date on a
30/360 basis.
CLASS I NOTES:
The Class A-I-1 Interest Rate will be equal to the least of
(a) 1-mo. LIBOR plus [ ]%, (b) 8.00% and (c) the Group I Net
WAC Rate.
The Interest Rates for Class A-I-2 through Class
A-I-6 Notes will be equal to the lesser of (a) the
related fixed-rate coupon for each Class or (b) the
Group I Net WAC Rate.
Any interest shortfalls due to the Group I Net WAC
Rate will not be reimbursed. Any prepayment interest
shortfalls or Relief Act shortfalls on the Group I
Loans will be allocated to the Class I Notes pro rata
based upon the interest that would have accrued on
these Notes absent these reductions.
CLASS A-I-IO NOTES:
The Class A-I-IO Notes will pay a coupon equal to the class
A-I-IO Interest Rate. The Class A-I-IO Notes do not have
principal balances and will only be entitled to interest on
a notional amount.
Class A-I-IO For the October 2002 through March 2005 Payment
Dates, the Class Interest Rate: A-I-IO Interest Rate will
equal 6.50% per annum. Commencing on the April 2005 Payment
Date and for all payment dates thereafter, the Class A-I-IO
Interest Rate will equal 0.00%.
Class A-I-IO Interest will accrue on a notional amount equal
to the lesser of (a) Notional Amount: the Class A-I-IO
Scheduled Notional Amount for that payment date and (b) the
aggregate principal balance of the Group I Loans as of the
beginning of the related collection period. Please see Page
13 herein for the Class A-I-IO Scheduled Notional Amount.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
INTEREST DISTRIBUTIONS (CONTINUED)
CLASSII NOTES: The Class A-II Interest Rate will be equal to the least of (a)
1-mo. LIBOR plus [ ]% per annum, (b) 17.25% per annum, and (c) the Group II
Net WAC Rate. Any Class II interest shortfalls due to the Group II Net WAC
Rate ("Basis Risk Shortfalls") will carry forward with interest at the
Class A-II Interest Rate and will be reimbursed by excess interest from
Loan Group II to the extent available. Any Relief Act shortfalls will be
allocated to the Class A-II Notes and Variable Funding Notes pro rata based
upon the interest that would have accrued on these Notes absent these
reductions.
INTEREST RATE CAPS:
Net Mortgage Rate: With respect to any home equity mortgage loan, the Net
Mortgage Rate equals the mortgage rate minus (a) the master servicing fee,
(b) the subservicing fee and (c) the rate at which the related policy
premium is paid.
Group I Net With respect to any payment date, the Group I Net WAC Rate
equals the WAC Rate: weighted average of the Net Mortgage Rates on the
Group I Loans as of the first day of the month preceding the month in which
that payment date occurs, adjusted for the interest payable on the Class
A-I-IO Notes and as further adjusted, in the case of the Class A-I-1 Notes,
for an actual/360 interest accrual basis. The initial Group I Net WAC Rate
equals approximately 6.04% per annum.
Group II Net With respect to any payment date, the Group II Net WAC Rate
equals the WAC Rate: weighted average of the Net Mortgage Rates on the
Group II Loans as of the first day of the month preceding the month in
which that payment date occurs, adjusted for an actual/360 interest accrual
basis. The initial Group II Net WAC Rate equals approximately 3.85% per
annum.
STEP-UP COUPON: The Interest Rate for the Class A-I-5 Notes will increase by
0.50%, subject to the Group I Net WAC Rate, on the second payment date
following the first possible optional termination date for the Group I
Loans.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTIONS
GROUP I: Amounts distributable as principal on the Class I
Notes on each Payment Date will be distributed as
follows:
(1) Class A-I-6 Notes, in an amount equal to the
Class A-I-6 Lockout Distribution Amount for
that Payment Date, until paid in full;
(2) Class A-I-1 Notes, until paid in full;
(3) Class A-I-2 Notes, until paid in full;
(4) Class A-I-3 Notes, until paid in full;
(5) Class A-I-4 Notes, until paid in full; (6) Class
A-I-5 Notes, until paid in full; and (7) Class A-I-6
Notes, until paid in full.
Group I Overcollateralization Amount:
Required With respect to any payment date prior to the Group I Stepdown
Date, the Group I Required Overcollateralization Amount will equal 1.50% of
the aggregate Group I Cut-Off Date Balance. With respect to any
distribution on or after the Group I Stepdown Date, the Group I Required
Overcollateralization Amount will equal the lesser of (a) the initial Group
I Required Overcollateralization Amount and (b) 3.00% of the aggregate
principal balance of the Group I Loans, subject to the Group I
Overcollateralization Floor.
Group I Overcollateralization Floor:
An amount equal to 0.50% of the Group I Cut-off Date Balance.
Group I Stepdown Date:
The later of (a) the April 2005 Payment Date and (b) the payment date on
which the aggregate principal balance of the Group I Loans after applying
payments received in the related collection period is less than 50% of the
initial aggregate principal balance of the Group I Loans, subject to the
satisfaction of certain conditions specified in the indenture.
-------------------------- ----------------------------------------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
CLASS A-I-6 PRINCIPAL
DISTRIBUTION:
Class A-I-6 Lockout
Distribution Amount:
The Class A-I-6 Lockout Distribution Amount is equal to the product of (x)
the Class A-I-6 Lockout Percentage for that Payment Date and (y) the Class
A-I-6 Pro-Rata Distribution Amount for that Payment Date. In no event shall
the Class A-I-6 Lockout Distribution Amount for a Payment Date exceed the
Principal Distribution Amount for the Class I Notes for that Payment Date.
Class A-I-6 Lockout
Percentage:
Class A-I-6 Lockout Percentage is equal to the following:
Payment Dates Class A-I-6 Lockout Percentage
1 - 36 0%
37 - 60 45%
61 - 72 80%
73 - 84 100%
85 and thereafter 300%
Class A-I-6 Pro-Rata Distribution Amount:
Class A-I-6 Pro-Rata Distribution Amount is an amount equal to the product
of (x) a fraction, the numerator of which is the Note Balance of the Class
A-I-6 Notes immediately prior to that Payment Date and the denominator of
which is the aggregate Note Balance of the Class I Notes (other than the
Class A-I-IO Notes) immediately prior to that Payment Date and (y) the
Principal Distribution Amount for the Class I Notes.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
PRINCIPAL DISTRIBUTIONS (CONTINUED)
GROUP II:
On each payment date, Class A-II available principal will be paid pro-rata
to the Class A-II Notes and the Variable Funding Notes, and is equal to:
(a) Net Principal Collections, if the payment date is during the Revolving
Period and an Amortization Event has not occurred; or
(b) Principal Collections, if the payment date is after the Revolving
Period or an Amortization Event has occurred plus, any accelerated
principal payments needed to achieve the Group II Required
Overcollateralization Amount plus the amount of any realized losses
covered by excess interest or the Group II Policy.
Net Principal Collections:
On any payment date, the excess, if any, of (a) principal collections on
the Group II Loans during the related collection period over (b) the
aggregate amount of additional balances drawn during the related period
with respect to the Group II Loans and conveyed to the trust.
Revolving Period: The period commencing on the Closing Date and ending on
September 30, 2007.
Initial
Undercollateralization:
Initially, the principal amount of the Class A-II Notes issued will exceed
the principal balance of the Group II loans by approximately 1.25%.
Beginning on the first payment date, any Group II excess interest not used
to cover current or previously unpaid losses will be paid as principal to
the Class A-II Notes to reduce the initial undercollateralization to zero
and to ultimately build to the Group II Required Overcollateralization
Amount.
Group II Required Overcollateralization Amount:
With respect to any payment date prior to the Group II Stepdown Date,
Overcollateralization the Group II Required Amount will equal 1.00% of the
aggregate Group II Cut-Off Date Balance. With respect to any distribution
on or after the Group II Stepdown Date, the Group II Required
Overcollateralization Amount will equal the lesser of (a) the initial Group
II Required Overcollateralization Amount and (b) 2.00% of the aggregate
principal balance of the Group II Loans, subject to the Group II
Overcollateralization Floor.
Group II Overcollateralization Floor:
An amount equal to 0.50% of the Group II Cut-off Date Balance.
Group II Stepdown Date:
The later of (a) the September 2004 Payment Date and (b) the payment date
on which the aggregate principal balance of the Group II Loans after
applying payments received in the related collection period is less than
50% of the initial aggregate principal balance of the Group II Loans,
subject to the satisfaction of certain conditions specified in the
indenture.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
TAXATION: For federal income tax purposes:
o The Group I Notes will each represent ownership of a
regular interest in a REMIC.
o The Group II Notes will be characterized as
indebtedness.
ERISA CONSIDERATIONS: All of the Notes may be eligible for purchase by persons
investing assets of employee benefit plans or individual retirement
accounts.
LEGAL INVESTMENT: None of the Notes will be SMMEA-eligible.
FORM OF REGISTRATION: Book-entry form through DTC, Clearstream and Euroclear.
Initial settlement and all secondary trades will settle in same-day funds.
MINIMUM DENOMINATIONS:
o The Class I Notes (other than the Class A-I-IO Notes) and the
Class A-II Notes: $25,000
o Class A-I-IO Notes: $1,000,000
notional amount
UNDERWRITERS: GROUP I Lead Manager: Xxxxxxx Xxxxx Xxxxxx
Co-Manager:Residential Funding Securities Corporation
GROUP II Lead Manager: Residential Funding SecuritiesCorporation
Co-Manager: Xxxxxxx Xxxxx Xxxxxx
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
CLASS A-I-IO SCHEDULED NOTIONAL AMOUNT
10/25/2002 $74,300,000 1/25/2004 $34,460,000
11/25/2002 $73,230,000 2/25/2004 $31,230,000
12/25/2002 $72,150,000 3/25/2004 $29,070,000
1/25/2003 $70,000,000 4/25/2004 $28,000,000
2/25/2003 $67,840,000 5/25/2004 $25,840,000
3/25/2003 $64,610,000 6/25/2004 $23,690,000
4/25/2003 $62,460,000 7/25/2004 $21,530,000
5/25/2003 $59,230,000 8/25/2004 $20,460,000
6/25/2003 $54,920,000 9/25/2004 $19,380,000
7/25/2003 $52,760,000 10/25/2004 $17,230,000
8/25/2003 $48,460,000 11/25/2004 $16,150,000
9/25/2003 $45,230,000 12/25/2004 $16,150,000
10/25/2003 $42,000,000 1/25/2005 $14,000,000
11/25/2003 $38,760,000 2/25/2005 $12,920,000
12/25/2003 $36,610,000 3/25/2005 $12,920,000
THEREAFTER $0
CLASS A-I-IO NOTES YIELD CONSIDERATION
If at any time prior to March 2005, the aggregate principal balance of the
Group I home equity mortgage loans is reduced to or below the Class A-I-IO
Scheduled Notional Amount, the yield to investors in the Class A-I-IO Notes
will become extremely sensitive to the rate and timing of principal payments,
including prepayments, defaults and liquidations, which may fluctuate
significantly over time. Further, if the Master Servicer exercises its option
to terminate the trust and such action results in the retirement of the Notes
prior to the payment date in March 2005, then the holders of the Class A-I-IO
Notes will receive fewer than the 30 distributions of interest that they would
otherwise have been entitled to receive. Investors in the Class A-I-IO Notes
should fully consider the risk that an extremely rapid rate of prepayments on
the Group I home equity mortgage loans could result in the failure of such
investors to fully recover their investments.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
CLASS I NOTES SENSITIVITY ANALYSIS
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TO 10% CALL
% OF GROUP I 0% 50% 75% 100% 125% 150%
PREPAYMENT ASSUMPTION:
CLASS A-I-1
AVG. LIFE (YRS) 7.35 1.48 1.11 0.91 0.78 0.69
WINDOW (MOS) 1-162 1-35 1-25 1-20 1-16 1-14
EXPECTED FINAL MAT. March-16 August-05 October-04 May-04 January-04 November-03
CLASS A-I-2
AVG. LIFE (YRS) 14.60 3.71 2.59 2.01 1.66 1.41
WINDOW (MOS) 000-000 00-00 25-38 20-29 16-24 14-20
EXPECTED FINAL MAT. August-17 April-07 November-05 February-05 September-04 May-04
CLASS A-I-3
AVG. LIFE (YRS) 14.91 6.00 4.02 3.01 2.40 2.00
WINDOW (MOS) 000-000 00-00 38-60 29-45 24-35 20-29
EXPECTED FINAL MAT. August-17 October-10 September-07 June-06 August-05 February-05
CLASS A-I-4
AVG. LIFE (YRS) 14.91 10.84 7.16 5.02 3.81 3.04
WINDOW (MOS) 179-179 97-150 60-109 45-83 35-62 29-48
EXPECTED FINAL MAT. August-17 March-15 October-11 August-09 November-07 September-06
CLASS A-I-5
AVG. LIFE (YRS) 14.91 12.49 9.08 6.91 5.46 4.38
WINDOW (MOS) 179-179 150-150 109-109 83-83 62-66 48-54
EXPECTED FINAL MAT. August-17 March-15 October-11 August-09 March-08 March-07
CLASS A-I-6 (NAS)
AVG. LIFE (YRS) 11.04 7.33 6.56 5.79 4.96 4.25
WINDOW (MOS) 37-179 37-150 37-109 37-83 37-66 37-54
EXPECTED FINAL MAT. August-17 March-15 October-11 August-09 March-08 March-07
TO MATURITY
% OF GROUP I 0% 50% 75% 100% 125% 150%
PREPAYMENT ASSUMPTION:
CLASS A-I-4
AVG. LIFE (YRS) 14.91 11.19 7.41 5.06 3.81 3.04
WINDOW (MOS) 179-179 97-179 60-135 45-99 35-62 29-48
EXPECTED FINAL MAT. August-17 August-17 December-13 December-10 November-07 September-06
CLASS A-I-5
AVG. LIFE (YRS) 14.93 14.91 13.31 10.51 7.25 4.63
WINDOW (MOS) 179-197 179-179 135-179 99-174 62-141 48-72
EXPECTED FINAL MAT. February-19 August-17 August-17 March-17 June-14 September-08
CLASS A-I-6 (NAS)
AVG. LIFE (YRS) 11.04 7.35 6.64 6.15 5.80 5.50
WINDOW (MOS) 37-179 37-179 37-179 37-172 37-139 37-115
EXPECTED FINAL MAT. August-17 August-17 August-17 January-17 April-14 April-12
------------------------ ------------ ----------- ------------ ------------ ----------- ------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
CLASS A-II NOTES SENSITIVITY ANALYSIS
TO 10% CALL
% OF CPR 0% 20% 25% 30% 35% 40% 45%
% OF CDR (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date)
0%............15.96 - 3.89 - 3.06 - 2.49 - 2.07 - 1.76 - 1.51 -
10/2025 08/2012 07/2010 02/2009 01/2008 04/2007 08/2006
10%...........16.18 - 5.78 - 4.37 - 3.39 - 2.71 - 2.21 - 1.84 -
03/2026 07/2017 06/2014 07/2011 09/2009 05/2008 06/2007
15%...........16.19 - 7.04 - 5.31 - 4.06 - 3.18 - 2.54 - 2.08 -
03/2026 07/2019 07/2017 10/2013 12/2010 03/2009 01/2008
20%...........16.19 - 8.77 - 6.46 - 4.93 - 3.80 - 2.99 - 2.39 -
03/2026 02/2022 01/2019 07/2017 02/2013 06/2010 10/2008
25%...........16.20 - 8.80 - 8.04 - 6.00 - 4.61 - 3.57 - 2.81 -
03/2026 11/2022 05/2021 08/2018 07/2017 06/2012 12/2009
TO MATURITY
% OF CPR 0% 20% 25% 30% 35% 40% 45%
% OF CDR (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date) (WAL-Date)
0%............16.04 - 4.17 - 3.31 - 2.70 - 01/2017 2.25 - 1.91 - 1.64 -
06/2027 04/2021 03/2018 09/2014 12/2012 07/2011
10%...........16.23 - 5.85 - 4.48 - 3.54 - 05/2019 2.86 - 2.36 - 1.97 -
06/2027 11/2024 02/2022 07/2017 05/2015 04/2013
15%...........16.23 - 7.09 - 5.34 - 4.14 - 03/2021 3.30 - 2.67 - 2.21 -
06/2027 02/2026 11/2023 08/2018 06/2017 08/2014
20%...........16.24 - 8.79 6.48 - 4.94 - 12/2022 3.86 - 3.08 - 2.50 -
06/2027 -10/2026 05/2025 05/2020 01/2018 06/2016
25%...........16.24 - 8.82 - 8.05 - 6.01 - 07/2024 4.61 - 3.61 - 2.88 -
06/2027 12/2026 05/2026 01/2022 08/2019 07/2017
------------ ------------- ------------- ------------- --------------- ------------- ------------ -------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP I COLLATERAL SUMMARY
Statistics for the Group I home equity loans are listed below as of the Cut-Off
Date.
SUMMARY STATISTICS RANGE (IF APPLICABLE)
NUMBER OF MORTGAGE LOANS: 5,908
AGGREGATE CURRENT PRINCIPAL BALANCE: $220,029,946.55 $3,510.08 to $249,518.44
AVERAGE CURRENT PRINCIPAL BALANCE: $37,242.71
AGGREGATE ORIGINAL PRINCIPAL BALANCE: $221,431,735.75 $10,000 to $250,000.00
AVERAGE ORIGINAL PRINCIPAL BALANCE: $37,479.98
WTD. AVG. GROSS LOAN RATE: 8.91% 6.25% to 14.75%
WTD. AVG. ORIGINAL TERM (MONTHS): 179.88 60.00 to 360.00
WTD. AVG. REMAINING TERM (MONTHS): 178.42 57.00 to 359.00
WTD. AVG. ORIGINAL CLTV: 91.65% 7.00% to 100.00%
WTD. AVG. BORROWER FICO: 726 619 to 821
WTD. AVG. BORROWER DTI: 37.77% 3.00% to 51.00%
BALLOON LOANS (% OF TOTAL): 62.59%
WTD. AVG. JUNIOR MORTGAGE RATIO: 17.98%
LIEN POSITION (1ST / 2ND): 0.12% / 99.88%
GEOGRAPHIC DISTRIBUTION: (1) California 40.36%
Maryland 7.16%
Virginia 6.65%
------------------------------------------------ ---------------------- --------
________
(1) Other states account individually for less than 5% of the pool balance. (1)
Figure is based on credit limit rather than current principal balance. (2) Other
states account individually for less than 5% of the pool balance.
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP I CREDIT SCORE
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
RANGE OF CREDIT SCORES MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
619 - 619 1 30,367.87 0.01
620 - 639 79 2,397,594.19 1.09
640 - 659 381 12,717,029.11 5.78
660 - 679 519 18,770,286.64 8.53
680 - 699 809 32,179,766.29 14.63
700 - 719 791 30,995,613.93 14.09
720 - 739 853 32,589,572.67 14.81
740 - 759 920 34,009,683.28 15.46
760 - 779 913 33,336,595.73 15.15
780 - 799 540 19,187,435.64 8.72
800 OR GREATER 102 3,816,001.20 1.73
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I MORTGAGE RATES
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
RANGE OF MORTGAGE RATES (%) MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
6.250 - 6.500 2 56,874.48 0.03
6.501 - 7.000 24 958,405.66 0.44
7.001 - 7.500 192 6,873,133.82 3.12
7.501 - 8.000 800 29,605,989.44 13.46
8.001 - 8.500 1,498 54,383,374.65 24.72
8.501 - 9.000 1,392 52,117,943.01 23.69
9.001 - 9.500 747 28,589,922.88 12.99
9.501 - 10.000 547 21,348,588.60 9.70
10.001 - 10.500 238 8,862,953.66 4.03
10.501 - 11.000 212 8,277,098.91 3.76
11.001 - 11.500 117 4,187,037.10 1.90
11.501 - 12.000 66 2,449,463.79 1.11
12.001 - 12.500 35 1,186,002.54 0.54
12.501 - 13.000 28 847,411.77 0.39
13.001 - 13.500 6 160,567.38 0.07
13.501 - 14.000 3 90,178.86 0.04
14.501 - 15.000 1 35,000.00 0.02
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP I CURRENT PRINCIPAL BALANCES
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
RANGE OF PRINCIPAL BALANCES MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
($)
-------------------------------- ---------------- --------------------------- ---------------------
<= 25,000.00 1,817 34,058,775.13 15.48
25,000.01 - 50,000.00 2,964 107,407,375.26 48.81
50,000.01 - 75,000.00 852 51,625,134.75 23.46
75,000.01 - 100,000.00 232 20,180,533.56 9.17
100,000.01 - 125,000.00 11 1,245,019.00 0.57
125,000.01 - 150,000.00 14 1,980,106.25 0.90
150,000.01 - 175,000.00 3 501,047.58 0.23
175,000.01 - 200,000.00 11 2,106,625.76 0.96
200,000.01 - 225,000.00 1 203,693.37 0.09
250,000.01 - 275,000.00 3 721,635.89 0.33
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I ORIGINAL TERM TO SCHEDULED MATURITY
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
ORIGINAL TERM (MO.) MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
60 9 202,434.48 0.09
120 106 3,458,401.82 1.57
180 5,731 213,921,911.52 97.22
240 44 1,688,306.68 0.77
300 12 552,387.08 0.25
360 6 206,504.97 0.09
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP I REMAINING TERM TO SCHEDULED MATURITY
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
RANGE OF REMAINING TERM (MO.) MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
0 - 96 9 202,434.48 0.09
109 - 120 106 3,458,401.82 1.57
157 - 168 5 132,811.35 0.06
169 - 180 5,726 213,789,100.17 97.16
181 - 288 45 1,728,068.05 0.79
289 - 300 11 512,625.71 0.23
301 AND OVER 6 206,504.97 0.09
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I ORIGINAL COMBINED LOAN-TO-VALUE RATIOS
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
RANGE OF ORIGINAL CLTVS (%) MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 10.00 1 70,000.00 0.03
10.01 - 20.00 1 49,975.40 0.02
20.01 - 30.00 1 100,000.00 0.05
30.01 - 40.00 4 178,291.90 0.08
40.01 - 50.00 10 487,716.35 0.22
50.01 - 60.00 34 1,722,128.24 0.78
60.01 - 70.00 81 3,865,695.08 1.76
70.01 - 75.00 72 3,629,791.44 1.65
75.01 - 80.00 199 10,038,188.00 4.56
80.01 - 85.00 300 8,327,588.54 3.78
85.01 - 90.00 1,917 60,848,151.51 27.65
90.01 - 95.00 2,305 90,552,169.31 41.15
95.01 - 100.00 983 40,160,250.78 18.25
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUOP I JUNIOR MORTGAGE RATIOS
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
RANGE OF JUNIOR MORTGAGE RATIOS MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
--------------------------------- ---------------- --------------------------- --------------------
0.00 - 5.00 73 1,052,285.92 0.48
5.01 - 10.00 482 10,390,978.09 4.73
10.01 - 15.00 1,753 53,296,331.98 24.25
15.01 - 20.00 2,748 110,471,246.36 50.27
20.01 - 25.00 357 17,874,237.13 8.13
25.01 - 30.00 173 8,487,219.23 3.86
30.01 - 40.00 199 10,765,309.96 4.90
40.01 - 50.00 72 4,395,911.28 2.00
50.01 - 60.00 27 1,680,611.23 0.76
60.01 - 70.00 14 1,177,469.65 0.54
70.01 - 78.25 4 183,495.78 0.08
TOTAL: 5,902 $219,775,096.61 100.00%
--------------------------------- ---------------- --------------------------- --------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP I PROPERTY TYPE
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
TYPE MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- -------------------------- ---------------------
SFD 3,972 148,375,371.74 67.43
PUD DETACHED 1,127 44,864,784.11 20.39
CONDOMINIUM 463 15,405,371.15 7.00
PUD ATTACHED 236 7,616,495.79 3.46
MULTIFAMILY (2-4) UNITS 45 1,699,183.69 0.77
TOWNHOUSE 45 1,457,867.54 0.66
MANUFACTURED HOME 13 257,379.07 0.12
TOWNHOUSE/ROW HOUSE 3 184,202.94 0.08
SITE CONDO (OTHER) 3 154,896.07 0.07
MODULAR 1 14,394.45 0.01
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- -------------------------- ---------------------
GROUP I OCCUPANCY TYPE
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
TYPE MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
NON-OWNER OCCUPIED 2 96,900.00 0.04
PRIMARY RESIDENCE 5,865 218,653,368.09 99.37
SECOND HOME 41 1,279,678.46 0.58
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I LIEN POSITION
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
POSITION MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
FIRST LIEN 6 254,849.94 0.12
SECOND LIEN 5,902 219,775,096.61 99.88
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP I DEBT-TO-INCOME
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
RANGE OF DEBT-TO-INCOME RATIOS MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 5.00 3 41,055.23 0.02
5.01 - 10.00 5 152,739.98 0.07
10.01 - 15.00 37 1,521,140.95 0.69
15.01 - 20.00 97 3,417,142.15 1.55
20.01 - 25.00 329 11,043,682.72 5.02
25.01 - 30.00 656 22,676,717.86 10.31
30.01 - 35.00 1,037 36,561,303.40 16.62
35.01 - 40.00 1,394 51,486,883.27 23.40
40.01 - 45.00 1,685 66,901,193.25 30.41
45.01 - 50.00 655 25,982,665.84 11.81
50.01 - 51.00 10 245,421.90 0.11
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP I PREPAYMENT PENALTY TERM
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
PREPAYMENT PENALTY TERM (MO.) MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
NONE 5,460 201,869,429.22 91.75
12 50 2,312,192.58 1.05
36 356 14,449,689.89 6.57
60 33 1,101,753.00 0.50
OTHER ( < 60 MONTHS) 9 296,881.86 0.14
TOTAL: 5,908 $220,029,946.55 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP I LOAN PURPOSE
NUMBER OF % OF GROUP I
GROUP I GROUP I CUT-OFF DATE CUT-OFF DATE
PURPOSE MORTGAGE LOANS PRINCIPAL BALANCE ($) PRINCIPAL BALANCE
------------------------------------- ---------------- --------------------------- ---------------------
PURCHASE MONEY 3,418 129,642,819.34 58.92
DEBT CONSOLIDATION 914 34,509,128.23 15.68
LOWER RATE/REDUCED 697 24,290,555.46 11.04
CASH 590 21,318,909.10 9.69
HOME IMP/DEBT CONS/ASSET ACQ 212 6,921,064.00 3.15
CONVENIENCE 25 1,063,764.37 0.48
HOME IMPROVEMENT 6 259,734.54 0.12
ASSET ACQUISITION 5 148,957.79 0.07
OTHER 41 1,875,013.72 0.85
TOTAL: 5,908 $220,029,946.55 100.00%
------------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II COLLATERAL SUMMARY
Statistics for the Group II revolving credit loans are listed below as of the
Cut-Off Date.
SUMMARY STATISTICS RANGE (IF APPLICABLE)
NUMBER OF REVOLVING CREDIT LOANS: 5,529
AGGREGATE CURRENT PRINCIPAL BALANCE: $205,661,721.27 $0.00 to $500,000.00
AVERAGE CURRENT PRINCIPAL BALANCE: 37,196.91
AGGREGATE CREDIT LIMIT BALANCE: 262,131,207.00 $10,000.00 to $500,000.00
AVERAGE CREDIT LIMIT BALANCE: 47,410.24
AVERAGE CREDIT UTILIZATION RATE: 78.46% 0.00% to 101.49%
WTD. AVG. INITIAL LOAN RATE: 4.30% 3.75% to 10.50%
WTD. AVG. MARGIN: 2.08% 0.00% to 6.00%
WTD. AVG. MAXIMUM LOAN RATE: 19.29% 9.49% to 25.00%
WTD. AVG. ORIGINAL TERM (MONTHS): 233.68 179 to 360
WTD. AVG. REMAINING TERM (MONTHS): 230.92 105 to 357
WTD. AVG. MONTHS TO FIRST ADJUSTMENT DATE: 3 0 to 11
WTD. AVG. MONTHS TO REPAYMENT PERIOD: 153.61 0 to 182
WTD. AVG. CLTV: (1) 82.79% 9.00% to 100.00%
WTD. AVG. BORROWER FICO: 724 620 to 824
BALLOON LOANS (% OF TOTAL): 34.78%
WTD. AVG. JUNIOR MORTGAGE RATIO: 20.27%
LIEN POSITION (1ST / 2ND): 2.6% / 97.4%
GEOGRAPHIC DISTRIBUTION: (2) California 35.7
New Jersey 10.1
Michigan 5.8
Florida 5.8
Colorado 5.1
Arizona 5.0
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II CREDIT SCORE
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF CREDIT SCORES REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
------------------------------- ----------------- --------------------------- ---------------------
620 - 639 133 3,136,749.03 1.53
640 - 659 470 14,324,877.72 6.97
660 - 679 517 17,664,747.23 8.59
680 - 699 770 31,443,947.26 15.29
700 - 719 706 27,323,079.67 13.29
720 - 739 747 27,899,845.83 13.57
740 - 759 781 30,064,105.81 14.62
760 - 779 774 28,933,521.88 14.07
780 - 799 541 20,550,033.52 9.99
800 - 824 90 4,320,813.32 2.10
TOTAL: 5,529 $205,661,721.27 100.00%
------------------------------- ----------------- --------------------------- ---------------------
GROUP II MORTGAGE RATES
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF MORTGAGE RATES (%) REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
3.501 - 4.000 4,564 174,376,328.46 84.79
4.001 - 4.500 3 78,686.87 0.04
4.501 - 5.000 55 1,541,227.24 0.75
5.001 - 5.500 108 3,113,977.61 1.51
5.501 - 6.000 122 4,330,550.65 2.11
6.001 - 6.500 111 2,657,915.18 1.29
6.501 - 7.000 112 3,830,329.16 1.86
7.001 - 7.500 86 3,190,271.97 1.55
7.501 - 8.000 88 2,968,852.95 1.44
8.001 - 8.500 86 3,206,774.13 1.56
8.501 - 9.000 129 4,045,719.59 1.97
9.001 - 9.500 51 1,756,238.88 0.85
9.501 - 10.000 11 453,610.62 0.22
10.001 - 10.500 3 111,237.96 0.05
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II CURRENT PRINCIPAL BALANCES
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF PRINCIPAL BALANCES REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
($) CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
<= 25,000.00 2,223 32,238,048.72 15.68
25,000.01 - 50,000.00 2,118 78,602,609.39 38.22
50,000.01 - 75,000.00 734 45,971,090.55 22.35
75,000.01 - 100,000.00 333 30,331,227.00 14.75
100,000.01 - 125,000.00 37 4,216,079.74 2.05
125,000.01 - 150,000.00 48 6,830,961.20 3.32
150,000.01 - 175,000.00 7 1,157,298.12 0.56
175,000.01 - 200,000.00 22 4,314,174.13 2.10
200,000.01 - 225,000.00 1 223,632.98 0.11
225,000.01 - 250,000.00 3 750,000.00 0.36
250,000.01 - 275,000.00 2 526,599.44 0.26
475,000.01 - 500,000.00 1 500,000.00 0.24
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II CREDIT LIMITS
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF CREDIT LIMITS ($) REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
<= 25,000.00 1,491 24,399,042.39 11.86
25,000.01 - 50,000.00 2,349 75,250,053.31 36.59
50,000.01 - 75,000.00 921 47,398,997.37 23.05
75,000.01 - 100,000.00 576 37,577,156.73 18.27
100,000.01 - 125,000.00 38 3,660,523.10 1.78
125,000.01 - 150,000.00 80 7,943,067.30 3.86
150,000.01 - 175,000.00 9 752,285.38 0.37
175,000.01 - 200,000.00 57 6,580,363.27 3.20
225,000.01 - 250,000.00 5 1,073,632.98 0.52
250,000.01 - 275,000.00 2 526,599.44 0.26
475,000.01 - 500,000.00 1 500,000.00 0.24
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II CREDIT LIMIT UTILIZATION RATES
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF UTILIZATION RATES REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
(%) CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 10.00 333 581,003.85 0.28
10.01 - 20.00 132 1,217,562.99 0.59
20.01 - 30.00 130 2,097,368.22 1.02
30.01 - 40.00 151 2,926,215.57 1.42
40.01 - 50.00 157 3,868,458.43 1.88
50.01 - 60.00 169 4,756,507.36 2.31
60.01 - 70.00 169 5,985,662.15 2.91
70.01 - 80.00 190 7,256,608.72 3.53
80.01 - 90.00 207 8,797,185.62 4.28
90.01 - 100.00 3,881 167,744,470.19 81.56
100.01 - 102.00 10 430,678.17 0.21
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II COMBINED LOAN-TO-VALUE RATIOS
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF CLTVS (%) REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 10.00 2 53,000.00 0.03
10.01 - 20.00 14 643,289.36 0.31
20.01 - 30.00 28 1,177,658.75 0.57
30.01 - 40.00 53 2,270,908.47 1.10
40.01 - 50.00 87 3,095,831.67 1.51
50.01 - 60.00 185 8,456,853.32 4.11
60.01 - 70.00 364 15,430,479.10 7.50
70.01 - 75.00 259 10,553,016.24 5.13
75.01 - 80.00 610 24,674,682.51 12.00
80.01 - 85.00 299 9,450,427.62 4.60
85.01 - 90.00 1,696 54,907,801.72 26.70
90.01 - 95.00 1,291 50,121,351.75 24.37
95.01 - 100.00 641 24,826,420.76 12.07
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II JUNIOR MORTGAGE RATIOS
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF JUNIOR MORTGAGE RATIOS REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 5.00 61 736,848.79 0.37
5.01 - 10.00 563 12,463,460.09 6.22
10.01 - 15.00 1,663 50,083,017.74 25.01
15.01 - 20.00 1,751 66,896,345.43 33.40
20.01 - 25.00 572 25,991,847.35 12.98
25.01 - 30.00 310 14,193,074.94 7.09
30.01 - 40.00 316 18,079,831.81 9.03
40.01 - 50.00 122 6,909,696.19 3.45
50.01 - 60.00 32 2,279,040.32 1.14
60.01 - 70.00 26 1,973,350.10 0.99
70.01 - 80.00 9 412,784.18 0.21
80.01 - 90.00 3 132,212.21 0.07
90.01 - 100.00 3 120,808.51 0.06
TOTAL: 5,431 $200,272,317.66 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II ORIGINATION YEAR
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
ORIGINATION YEAR REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
2002 5,203 197,308,054.70 95.94
2001 277 7,342,618.62 3.57
2000 12 358,558.37 0.17
1999 6 122,003.92 0.06
1998 24 324,346.34 0.16
1997 2 32,396.01 0.02
1996 2 54,492.82 0.03
1995 2 98,360.15 0.05
1994 1 20,890.34 0.01
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II GROSS MARGINS
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF GROSS MARGINS (%) REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
0.000 36 1,873,980.79 0.91
0.001 - 0.500 670 25,023,399.06 12.17
0.501 - 1.000 691 30,287,075.42 14.73
1.001 - 1.500 932 31,782,824.01 15.45
1.501 - 2.000 703 24,827,578.90 12.07
2.001 - 2.500 616 25,112,059.82 12.21
2.501 - 3.000 525 20,465,113.97 9.95
3.001 - 3.500 411 13,974,291.64 6.79
3.501 - 4.000 489 17,242,590.01 8.38
4.001 - 4.500 356 11,344,988.47 5.52
4.501 - 5.000 84 3,072,955.01 1.49
5.001 - 5.500 12 476,168.29 0.23
5.501 - 6.000 4 178,695.88 0.09
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II MAXIMUM LOAN RATES
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF MAXIMUM RATES (%) REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
9.001 - 10.000 3 54,831.80 0.03
13.001 - 14.000 7 279,030.28 0.14
15.001 - 16.000 26 871,226.21 0.42
17.001 - 18.000 4,417 159,884,527.87 77.74
19.001 - 20.000 2 91,800.00 0.04
20.001 - 21.000 21 688,014.82 0.33
21.001 - 22.000 20 458,868.76 0.22
22.001 - 23.000 7 113,675.99 0.06
23.001 - 24.000 924 38,710,959.80 18.82
24.001 - 25.000 102 4,508,785.74 2.19
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II REMAINING TERM TO SCHEDULED MATURITY
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF REMAINING TERM (MO.) REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
97 - 108 2 54,492.82 0.03
121 - 144 12 144,123.54 0.07
145 - 156 6 220,729.03 0.11
157 - 168 43 1,273,677.59 0.62
169 - 180 2,928 111,743,164.54 54.33
181 - 288 67 1,394,573.37 0.68
289 - 300 2,468 90,675,666.42 44.09
349 - 360 3 155,293.96 0.08
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II OCCUPANCY TYPE
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
TYPE REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
PRIMARY RESIDENCE 5,466 203,749,082.53 99.07
SECOND HOME 35 1,183,318.94 0.58
NON-OWNER OCCUPIED 28 729,319.80 0.35
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II LIEN POSITION
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
POSITION REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
FIRST LIEN 98 $5,389,403.61 2.62
SECOND LIEN 5,431 200,272,317.66 97.38
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
GROUP II PROPERTY TYPE
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
TYPE REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
SINGLE FAMILY RESIDENCE 3,958 147,014,915.51 71.48
PUD DETACHED 863 34,773,115.79 16.91
CONDO 435 14,791,826.92 7.19
PUD ATTACHED 147 4,581,518.70 2.23
MULTIFAMILY (2-4 UNITS) 72 2,973,599.31 1.45
TOWNHOUSE 31 960,991.16 0.47
MANUF. HOME 21 461,749.59 0.22
TOWNHOUSE/ROW HOUSE DET. 2 104,004.29 0.05
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
RFMSII SERIES 2002-HS3
HOME EQUITY LOAN-BACKED TERM NOTES
$432,500,000 (APPROXIMATE)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
--------------------------------------------------------------------------------
GROUP II DEBT-TO-INCOME RATIOS
NUMBER OF % OF GROUP
GROUP II GROUP II CUT-OFF DATE II
RANGE OF DEBT-TO-INCOME (%) REVOLVING PRINCIPAL BALANCE ($) CUT-OFF DATE
CREDIT LOANS PRINCIPAL BALANCE
-------------------------------- ---------------- --------------------------- ---------------------
-------------------------------- ---------------- --------------------------- ---------------------
0.00 - 5.00 6 217,820.59 0.11
5.01 - 10.00 9 454,716.28 0.22
10.01 - 15.00 52 1,815,426.57 0.88
15.01 - 20.00 168 6,426,561.41 3.12
20.01 - 25.00 347 11,893,970.89 5.78
25.01 - 30.00 662 23,102,190.30 11.23
30.01 - 35.00 895 31,300,626.58 15.22
35.01 - 40.00 1,246 46,265,433.74 22.50
40.01 - 45.00 1,460 57,764,526.84 28.09
45.01 - 50.00 684 26,420,448.07 12.85
TOTAL: 5,529 $205,661,721.27 100.00%
-------------------------------- ---------------- --------------------------- ---------------------
________________________________________________________________________________
THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX XXXXXX AND NOT BY THE
ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX XXXXX XXXXXX IS
ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH
THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY XXXXXXX XXXXX
XXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. XXXXXXX
XXXXX XXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN
CONNECTION WITH THE PROPOSED TRANSACTION.
