Exhibit 99.3
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
POOL SUMMARY (complete collateral tables on pages 7-13)
Number of Loans: 4,337
Current Balance: $395,573,642
Average Balance: $91,209
Minimum Balance: $11,258
Maximum Balance: $660,148
Wtd Average Coupon: 10.17%
Original Term (months): 359
Seasoning (months): 5
Combined Loan-To-Value: 77.83%
Wtd Avg Initial Periodic Rate Cap: 2.56%
Wtd Avg Subsequent Periodic Rate Cap: 1.07%
Wtd Avg Life Cap: 16.64%
Wtd Avg Months to Roll: 18
BOND SENSITIVITY TO PREPAYMENTS
TO CALL
CPR
-----------------------------------------------------------------------------------------------------------------
CLASS A 0% 15% 22.5% 30% 37.5% 45%
-----------------------------------------------------------------------------------------------------------------
AVG LIFE 21.26 5.03 3.30 2.39 1.83 1.45
FIRST PAY 07/98 07/98 07/98 07/98 07/98 07/98
LAST PAY 04/27 12/11 5/07 11/04 05/03 05/02
WINDOW (YEARS) 28.83 13.50 8.92 6.42 4.92 3.92
-----------------------------------------------------------------------------------------------------------------
TO MATURITY
CPR
-----------------------------------------------------------------------------------------------------------------
CLASS A 0% 15% 22.5% 30% 37.5% 45%
-----------------------------------------------------------------------------------------------------------------
AVG LIFE 21.30 5.43 3.59 2.60 1.99 1.58
FIRST PAY 07/98 07/98 07/98 07/98 07/98 07/98
LAST PAY 04/28 09/24 02/18 12/12 08/09 04/07
WINDOW (YEARS) 29.83 26.25 19.67 14.50 11.17 8.83
-----------------------------------------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 1
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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PRICING INFORMATION
Spread Average Ratings
Class Size to LIBOR Life to Call Xxxxx'x/S&P
-----------------------------------------------------------------------------------------------------------------------
A Notes $600,000,000 [%] 2.39 Aaa/AAA
-----------------------------------------------------------------------------------------------------------------------
Pricing Speed: 30% CPR
Payment Date: The 20th day of each month (or the next
Business Day thereafter) commencing on July
20, 1998.
Interest Accrual Period: Interest will accrue from the last Payment
Date (or from the Closing Date in the case
of the first Payment Date) to the day before
the related Payment Date based on an
Actual/360 day year.
Payment Delay: 0 Days
Settlement (Closing) Date: On or about June 26, 1998.
Statistical Cut-off Date: June 1, 1998 (close of business)
Stated Final Payment Date: August 20, 2029, although it is anticipated
that the Actual Final Payment Date for the
Notes will occur significantly earlier than
the Stated Final Payment Date.
Optional Redemption: The holders of Residual Interests exceeding
in the aggregate a 50% interest may, at
their option effect an early redemption of
the Notes and terminate the Trust on any
Payment Date on or after the Redemption Date
by purchasing all of the Home Equity Loans
at a price equal to or greater than the
Redemption Price. In addition, the Note
Insurer will have rights under limited
circumstances, to purchase the Home Equity
Loans and thereby effect a redemption of the
Notes.
Redemption Date: The Redemption Date is the first Monthly
Remittance Date on which the aggregate Loan
Balance of the Home Equity Loans has
declined to less than 10% of the sum of (x)
the aggregate Loan Balance of the Initial
Home Equity Loans as of the Cut-Off Date and
(y) the original Prefunded Amount.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 2
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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DESCRIPTION OF SECURITIES
Title of Securities: IMC Home Equity Loan Owner Trust 1998-4
Notes: $600 million (single class)
Certificates: Residual Interest (not offered hereby)
Lead Underwriter: PaineWebber Incorporated
Co-Underwriters: Bear, Xxxxxxx and Co. Inc.
Deutsche Bank Securities Inc.
Nomura Securities International, Inc.
Seller and Servicer: IMC Mortgage Company, Headquartered in
Tampa, FL
Depositor: IMC Securities, Inc.
Owner Trustee: Wilmington Trust Company
Indenture Trustee: The Chase Manhattan Bank
Pre-Funding Account: On the Closing Date, [$150,000,000] will be
deposited in an account (the "Pre-Funding
Account") and will be used to acquire
Subsequent Loans. The "Pre-Funding Period"
is the period commencing on the Closing Date
and ending generally on the earlier to occur
of (i) the date on which the amount on
deposit in the Pre-Funding Account is less
than $100,000 and (ii) [August 15, 1998].
Statistical Calculation Date: The collateral described herein and in the
prospectus supplement represents the pool of
Home Equity Loans as of the Statistical
Calculation Date of June 1, 1998. It is
anticipated that the total unpaid principal
balance of the collateral pool conveyed to
the Trust at closing will be at least
$450,000,000.
Home Equity Loans: - First lien, adjustable rate mortgage
loans.
- 1-4 Family residential properties.
- Substantial percentage of the loans do not
conform to FNMA or FHLMC underwriting
standards or to those standards typically
applied by banks or other lending
institutions, particularly with regard to a
borrower's credit history.
- Approximately 60.31% of the Home Equity
Loans bear prepayment penalties.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 3
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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DESCRIPTION OF SECURITIES (Continued)
Form of Offering: Book-Entry form, same-day funds through DTC,
Euroclear, and CEDEL.
Denominations: Minimum denominations of $25,000 and
multiples of $1,000 thereafter.
Note Rate: On each Payment Date, the "Note Rate" will
be equal to the lesser of (x) the Formula
Note Rate and (y) the Available Funds Cap.
The "Formula Note Rate" for any Payment Date
will equal the lesser of (x) (i) with
respect to any Payment Date which occurs on
or prior to the Redemption Date, One Month
LIBOR plus _% per annum and (ii) with
respect to any Payment Date thereafter, One
Month LIBOR plus _% per annum and (y) 15.00%
per annum.
Available Funds Cap: The "Available Funds Cap" is the weighted
average of the Coupon Rates on the Home
Equity Loans, less (i) prior to January
1999, [.63375%] per annum and (ii) on and
after January 1999, [1.13375%] per annum.
Available Funds Cap
Carry Forward Amount: If, on any Payment Date, the Available Funds
Cap limits the Note Rate (i.e., the rate set
by the Available Funds Cap is less than the
Formula Note Rate), the amount of any such
shortfall will be carried forward and be due
and payable on future Payment Dates and
shall accrue interest at the applicable
Formula Note Rate, until paid (such
shortfall, together with such accrued
interest, the "Available Funds Cap Carry
Forward Amount").
The Insurance Policy for the Notes does not
cover the Available Funds Cap Carry Forward
Amount; the payment of such amount may be
funded only from (i) any excess interest
resulting from the Available Funds Cap being
in excess of the Formula Note Rate on Future
Payment Dates, and (ii) any Net Monthly
Excess Cashflow which would otherwise be
paid to the Servicer or the Indenture
Trustee on account of certain reimbursable
amounts, or to the Owners of the Residual
Interests.
Servicing/Other Fees: The collateral is subject to certain fees,
including a servicing fee of 0.50% per annum
payable monthly, Note Insurer fees, and
trustee fees.
Advancing by Servicer: The Servicer is required to advance from its
own funds any delinquent payment of interest
(not principal) unless such interest is
deemed to be non-recoverable (the
"Delinquency Advances").
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 4
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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DESCRIPTION OF SECURITIES (Continued)
Credit Enhancement: Credit enhancement with respect to the Notes
will be provided by (a) the
overcollateralization mechanics which
utilize the excess interest created by the
internal cashflows of the pool, and (b) the
MBIA Insurance Corporation ("MBIA") Policy.
Overcollateralization: Subject to certain
floors, caps and triggers, the required
level of overcollateralization may increase
or decrease over time.
MBIA Insurance Policy: MBIA (the "Note
Insurer") will unconditionally and
irrevocably guarantee the timely payment of
interest and ultimate payment of principal
on the Notes (i.e. after any losses reduce
the overcollateralization to zero, MBIA will
cover the excess, if any, of the Note
principal balance over the aggregate
collateral balance). The Insurance Policy
does not guarantee the payment of Available
Funds Cap Carry-Forward Amounts. The Insured
Payments do not cover Realized Losses except
to the extent that an Overcollateralization
Deficit exists. Insured Payments do not
cover the Servicer's failure to make
Delinquency Advances except to the extent
that an Overcollateralization Deficit would
otherwise result therefrom. The Insurance
Policy is not cancelable for any reason.
Federal Tax Aspects: The trust will be an Owner Trust. No
election will be made to treat the Trust
Estate or any portion thereof as a REMIC for
federal income tax purposes. The Notes will
be treated as non-recourse debt obligations
of the trust.
ERISA Considerations: Subject to the discussion in the Prospectus
Supplement and Prospectus, the Notes may be
purchased by employee benefit plans that are
subject to ERISA.
SMMEA Eligibility: The Notes will NOT constitute
"mortgage-related securities" for purposes
of SMMEA.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 5
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE
Aggregate Field Description Count Balance Pool%
State Alaska 7 718,038 0.18
Arizona 65 6,755,491 1.71
Arkansas 9 461,401 0.12
California 298 43,009,112 10.87
Colorado 117 12,496,140 3.16
Connecticut 123 12,889,605 3.26
Delaware 12 889,950 0.23
District of Columbia 5 447,980 0.11
Florida 225 20,419,171 5.16
Georgia 83 8,805,596 2.23
Hawaii 23 3,992,653 1.01
Idaho 63 5,722,175 1.45
Illinois 248 21,459,460 5.42
Indiana 214 12,554,181 3.17
Iowa 22 1,274,963 0.32
Kansas 16 906,975 0.23
Kentucky 32 2,077,412 0.53
Louisiana 14 928,897 0.23
Maine 6 683,974 0.17
Maryland 115 11,228,894 2.84
Massachusetts 103 11,375,931 2.88
Michigan 339 24,585,125 6.22
Minnesota 78 5,979,944 1.51
Mississippi 6 374,120 0.09
Missouri 84 5,457,587 1.38
Montana 17 1,578,821 0.40
Nebraska 8 332,699 0.08
Nevada 20 2,845,028 0.72
New Hampshire 11 1,077,800 0.27
New Jersey 137 16,785,446 4.24
New Mexico 88 8,273,773 2.09
New York 269 28,191,084 7.13
North Carolina 192 15,191,749 3.84
North Dakota 1 37,652 0.01
Ohio 445 29,753,333 7.52
Oklahoma 19 898,492 0.23
Oregon 74 8,653,698 2.19
Pennsylvania 136 11,570,267 2.92
Rhode Island 33 2,927,819 0.74
South Carolina 34 2,697,351 0.68
South Dakota 2 178,881 0.05
Tennessee 25 1,910,874 0.48
Texas 182 15,279,833 3.86
Utah 77 8,580,598 2.17
Vermont 3 244,873 0.06
Virginia 39 4,190,941 1.06
Washington 83 8,868,540 2.24
West Virginia 14 1,016,939 0.26
Wisconsin 116 8,662,712 2.19
Wyoming 5 329,668 0.08
------ ----------- ------
4,337 $395,573,642 100.00%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 6
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE (Cont.)
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Aggregate Field Description Count Balance Pool%
Combined LTV 10.001 to 15.000 1 14,994 0.00
20.001 to 25.000 9 269,210 0.07
25.001 to 30.000 10 385,683 0.10
30.001 to 35.000 14 773,392 0.20
35.001 to 40.000 28 1,417,934 0.36
40.001 to 45.000 38 2,183,280 0.55
45.001 to 50.000 57 3,643,150 0.92
50.001 to 55.000 71 4,554,324 1.15
55.001 to 60.000 128 8,635,766 2.18
60.001 to 65.000 296 21,633,707 5.47
65.001 to 70.000 478 36,580,836 9.25
70.001 to 75.000 733 64,298,416 16.25
75.001 to 80.000 1,324 127,674,526 32.28
80.001 to 85.000 621 63,970,501 16.17
85.001 to 90.000 479 54,016,796 13.66
90.001 to 95.000 23 2,770,508 0.70
95.001 to 100.000 27 2,750,621 0.70
------ ----------- ------
4,337 $395,573,642 100.00%
Aggregate Field Description Count Balance Pool%
Current Coupon 5.001 - 6.000 4 310,572 0.08
6.001 - 7.000 4 595,515 0.15
7.001 - 8.000 78 10,274,306 2.60
8.001 - 9.000 520 60,534,207 15.30
9.001 - 10.000 1,241 129,545,710 32.75
10.001 - 11.000 1,331 116,111,651 29.35
11.001 - 12.000 701 51,735,755 13.08
12.001 - 13.000 303 18,778,452 4.75
13.001 - 14.000 112 5,865,522 1.48
14.001 - 15.000 35 1,385,802 0.35
15.001 - 16.000 6 356,241 0.09
16.001 - 17.000 2 79,909 0.02
------ ----------- ------
4,337 $395,573,642 100.00%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 7
Deutsche Bank Securities@
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IMC HOME EQUITY LOAN OWNER TRUST 1998-4
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DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE (Cont.)
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Aggregate Field Description Count Balance Pool%
Current Balance Up to 25,000.00 123 2,569,955 0.65
25,000.01 to 50,000.00 887 34,645,804 8.76
50,000.01 to 75,000.00 1,169 72,609,876 18.36
75,000.01 to 100,000.00 762 66,363,769 16.78
100,000.01 to 125,000.00 547 61,329,003 15.50
125,000.01 to 150,000.00 313 43,082,399 10.89
150,000.01 to 175,000.00 180 29,103,839 7.36
175,000.01 to 200,000.00 115 21,406,342 5.41
200,000.01 to 250,000.00 121 26,753,466 6.76
250,000.01 to 300,000.00 58 15,796,568 3.99
300,000.01 to 350,000.00 43 13,811,502 3.49
350,000.01 to 400,000.00 13 5,003,551 1.26
400,000.01 to 450,000.00 1 419,515 0.11
450,000.01 to 500,000.00 3 1,475,939 0.37
500,000.01 to 550,000.00 1 541,967 0.14
Over 550,000.00 1 660,148 0.17
------ ----------- ------
4,337 $395,573,642 100.00%
Aggregate Field Description Count Balance Pool%
Property Type Two- to Four-Family 265 24,460,008 6.18
Townhouse 17 1,701,402 0.43
Manufactured Housing 36 2,530,667 0.64
Multi-Family 10 832,793 0.21
Condominium 108 8,897,673 2.25
Single Family Attached 73 5,725,811 1.45
Single Family Detached 3,800 348,515,459 88.10
Planned Unit Development 27 2,846,150 0.72
Mixed Use 1 63,680 0.02
------ ----------- ------
4,337 $395,573,642 100.00%
Aggregate Field Description Count Balance Pool%
Months Since Origination 0 to 1 321 29,066,142 7.35
2 to 12 3,946 359,547,904 90.89
13 to 24 67 6,767,451 1.71
25 or more 3 192,144 0.05
------ ----------- ------
4,337 $395,573,642 100.00%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 8
Deutsche Bank Securities@
--------------------------------------------------------------------------------
IMC HOME EQUITY LOAN OWNER TRUST 1998-4
--------------------------------------------------------------------------------
DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE (Cont.)
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Aggregate Field Description Count Balance Pool%
Remaining Term Up to 120 2 52,413 0.01
121 to 180 17 1,310,769 0.33
181 to 240 5 524,077 0.13
301 to 360 4,313 393,686,383 99.52
------ ----------- ------
4,337 $395,573,642 100.00%
Aggregate Field Description Count Balance Pool%
Occupancy Owner Occupied 3,993 373,154,741 94.33
Investor Owned 329 21,022,301 5.31
Vacation/Second Home 15 1,396,601 0.35
------ ----------- ------
4,337 $395,573,642 100.00%
Aggregate Field Description Count Balance Pool%
Lien Type First Lien 4,328 394,972,690 99.85
Second Lien 9 600,953 0.15
------ ----------- ------
4,337 $395,573,642 100.00%
Aggregate Field Description Count Balance Pool%
Life Cap 6.001 - 7.000 1 60,772 0.02
7.001 - 8.000 1 57,762 0.01
10.001 - 11.000 3 384,558 0.10
11.001 - 12.000 6 487,460 0.12
12.001 - 13.000 11 1,790,872 0.45
13.001 - 14.000 48 6,284,044 1.59
14.001 - 15.000 266 31,693,186 8.01
15.001 - 16.000 891 94,346,079 23.85
16.001 - 17.000 1,345 129,915,432 32.84
17.001 - 18.000 1,017 82,628,623 20.89
18.001 - 19.000 466 32,752,372 8.28
19.001 - 20.000 180 10,345,889 2.62
20.001 - 21.000 76 3,575,169 0.90
21.001 - 22.000 15 689,776 0.17
22.001 - 23.000 2 44,796 0.01
26.001 - 27.000 1 75,522 0.02
30.001 - 35.000 7 414,087 0.10
35.001 - 40.000 1 27,243 0.01
------ ----------- ------
4,337 $395,573,642 100.00%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 9
Deutsche Bank Securities@
--------------------------------------------------------------------------------
IMC HOME EQUITY LOAN OWNER TRUST 1998-4
--------------------------------------------------------------------------------
DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE (Cont.)
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Aggregate Field Description Count Balance Pool%
Life Floor 2.001 - 3.000 1 134,854 0.03
3.001 - 4.000 6 688,402 0.17
4.001 - 5.000 17 1,617,276 0.41
5.001 - 6.000 82 7,936,534 2.01
6.001 - 7.000 158 14,863,334 3.76
7.001 - 8.000 205 21,733,978 5.49
8.001 - 9.000 505 56,734,867 14.34
9.001 - 10.000 1,110 115,093,569 29.10
10.001 - 11.000 1,207 105,947,415 26.78
11.001 - 12.000 638 47,223,037 11.94
12.001 - 13.000 272 16,696,971 4.22
13.001 - 14.000 101 5,362,453 1.36
14.001 - 15.000 28 1,161,265 0.29
15.001 - 16.000 7 379,687 0.10
------ ----------- ------
4,337 $395,573,642 100.00%
Aggregate Field Description Count Balance Pool%
Margin (6 Month LIBOR) 2.001 - 3.000 2 202,955 0.05
3.001 - 4.000 10 1,290,506 0.33
4.001 - 5.000 103 9,938,739 2.51
5.001 - 6.000 842 88,046,832 22.26
6.001 - 7.000 1,529 145,431,808 36.76
7.001 - 8.000 994 81,419,234 20.58
8.001 - 9.000 424 32,383,761 8.19
9.001 - 10.000 198 15,321,645 3.87
10.001 - 11.000 116 10,046,652 2.54
11.001 - 12.000 50 4,422,668 1.12
12.001 - 13.000 13 1,147,440 0.29
------ ----------- ------
4,281 $389,652,241 98.50%
Aggregate Field Description Count Balance Pool%
Margin (CMT Loans) 4.001 - 5.000 1 30,909 0.01
5.001 - 6.000 21 2,511,114 0.63
6.001 - 7.000 20 2,086,117 0.53
7.001 - 8.000 14 1,293,261 0.33
------ ----------- ------
56 $5,921,402 1.50%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 10
Deutsche Bank Securities@
--------------------------------------------------------------------------------
IMC HOME EQUITY LOAN OWNER TRUST 1998-4
--------------------------------------------------------------------------------
DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE (Cont.)
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Aggregate Field Description Count Balance Pool%
Rate Reset (6 month LIBOR) 1998/06 37 2,170,255 0.55
1998/07 87 7,717,879 1.95
1998/08 90 8,281,000 2.09
1998/09 119 10,966,741 2.77
1998/10 111 9,728,023 2.46
1998/11 105 9,525,039 2.41
1998/12 36 3,778,216 0.96
1999/01 7 1,244,771 0.31
1999/02 7 477,930 0.12
1999/03 4 413,113 0.10
1999/04 5 716,911 0.18
1999/05 22 2,070,459 0.52
1999/06 75 8,776,070 2.22
1999/07 100 9,017,084 2.28
1999/08 98 9,111,818 2.30
1999/09 184 18,554,012 4.69
1999/10 174 14,945,889 3.78
1999/11 332 32,881,784 8.31
1999/12 307 26,736,277 6.76
2000/01 345 32,601,281 8.24
2000/02 562 48,905,411 12.36
2000/03 591 49,324,580 12.47
2000/04 404 37,440,101 9.46
2000/05 123 10,440,456 2.64
2000/06 8 569,642 0.14
2000/07 1 122,334 0.03
2000/08 3 293,532 0.07
2000/09 2 98,981 0.03
2000/10 8 415,353 0.11
2000/11 8 423,852 0.11
2000/12 7 486,270 0.12
2001/01 50 5,482,561 1.39
2001/02 46 5,517,345 1.39
2001/03 71 6,527,177 1.65
2001/04 92 7,755,163 1.96
2001/05 20 2,167,158 0.55
2002/08 1 127,253 0.03
2002/12 1 159,276 0.04
2003/01 5 522,077 0.13
2003/02 7 572,198 0.14
2003/03 6 633,729 0.16
2003/04 16 1,641,383 0.41
2003/05 4 311,858 0.08
------ ----------- ------
4,281 $389,652,241 98.50%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 11
Deutsche Bank Securities@
--------------------------------------------------------------------------------
IMC HOME EQUITY LOAN OWNER TRUST 1998-4
--------------------------------------------------------------------------------
DESCRIPTION OF INITIAL HOME EQUITY LOANS AS OF THE CUT-OFF DATE (Cont.)
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------------------------------
Aggregate Field Description Count Balance Pool%
Rate Reset (CMT Loans) 1998/07 11 1,448,482 0.37
1998/08 2 175,556 0.04
1998/12 1 32,828 0.01
1999/01 1 23,328 0.01
1999/04 6 763,140 0.19
1999/05 8 622,699 0.16
1999/06 14 1,694,360 0.43
1999/09 1 38,410 0.01
2000/04 2 216,598 0.05
2000/05 1 65,662 0.02
2000/06 6 537,383 0.14
2000/07 2 240,038 0.06
2001/02 1 62,918 0.02
------ ----------- ------
56 $5,921,402 1.50%
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), was prepared solely by the Underwriter(s), is
privileged and confidential, is intended for use by the addressee only, and may
not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating such
information. Prospective investors are advised to read carefully, and should
rely solely on, the final prospectus and prospectus supplement (the "Final
Prospectus") related to the securities (the "Securities") in making their
investment decisions. This material does not include all relevant information
relating to the Securities described herein, particularly with respect to the
risk and special considerations associated with an investment in the Securities.
All information contained herein is preliminary and it is anticipated that such
information will change. Any information contained herein will be more fully
described in, and will be fully superseded by the preliminary prospectus
supplement, if applicable, and the Final Prospectus. Although the information
contained in the material is based on sources the Underwriter(s) believe(s) to
be reliable, the Underwriter(s) make(s) no representation or warranty that such
information is accurate or complete. Such information should not be viewed as
projections, forecasts, predictions, or opinions with respect to value. Prior to
making any investment decision, a prospective investor shall receive and fully
review the Final Prospectus. NOTHING HEREIN SHOULD BE CONSIDERED AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. The Underwriter(s) may
hold long or short positions in or buy and sell Securities or related securities
or perform for or solicit investment banking services from, any company
mentioned herein. Page 12
