Exhibit 99.1
SUBJECT TO REVISION
-------------------
TERM SHEET DATED March 12, 2001
-------------------------------
$600,000,000 (approximate)
[CONSECO LOGO]
CONSECO FINANCE SECURITIZATIONS CORP.
(Seller)
CONSECO FINANCE CORP.
(Servicer and Originator)
Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series 2001-1
Attached is a preliminary Term Sheet describing the structure, collateral pool
and certain aspects of the Conseco Finance Securitizations Corp. Manufactured
Housing Contract Senior/Subordinate Pass-Through Certificates, Series 2001-1.
The Term Sheet has been prepared by Conseco Finance Corp. for informational
purposes only and is subject to modification or change. The information and
assumptions contained therein are preliminary and will be superseded by a
prospectus, prospectus supplement and by any other additional information
subsequently filed with the Securities and Exchange Commission or incorporated
by reference in the Registration Statement.
Neither Credit Suisse First Boston Corporation nor any of its affiliates make
any representation as to the accuracy or completeness of any of the information
set forth in the attached Term Sheet. This cover sheet is not part of the Term
Sheet.
A Registration Statement (including a base prospectus) relating to the
Manufactured Housing Certificates has been filed with the Securities and
Exchange Commission and declared effective. The final Prospectus and Prospectus
Supplement relating to the securities will be filed after the securities have
been priced and all of the terms and information are finalized. This
communication is not an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state. Interested persons are referred to
the final Prospectus and Prospectus Supplement to which the securities relate.
Any investment decision should be based only upon the information in the final
Prospectus and Prospectus Supplement as of their publication dates.
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Offered Certificates
--------------------------------------------------------------------------------------------------------------------------
PRINCIPAL RATINGS AVG. LIFE AT 175% EXPECTED PAYMENT
CLASS AMOUNT S&P/MOODY'S/FITCH MHP (YRS)(1) BENCHMARK WINDOW(1) OFFERING
--------------------------------------------------------------------------------------------------------------------------
A-1 $129,000,000 AAA/Aaa/AAA 1.00 EDSF 05/2001-05/2003 Public
A-2 22,300,000 AAA/Aaa/AAA 2.25 Swaps 05/2003-09/2003 Public
A-3 63,400,000 AAA/Aaa/AAA 3.00 Swaps 09/2003-11/2004 Public
A-4 96,200,000 AAA/Aaa/AAA 5.00 Swaps 11/2004-02/2008 Public
A-5(2) 175,100,000 AAA/Aaa/AAA 10.85 Swaps 02/2008-11/2013 Public
A-IO(3) 120,000,000(4) AAA/Aaa/AAA 4.29 NA 05/2001-01/2007 Public
M-1 36,000,000 AA/Aa2/AA 9.22 Treasury 05/2005-11/2013 Public
M-2 30,000,000 A/A2/A 9.22 Treasury 05/2005-11/2013 Public
B-1 30,000,000 BBB/Baa2/BBB 6.60 Treasury 05/2005-02/2011 Public
Total $600,000,000
--------------------------------------------------------------------------------------------------------------------------
(1) All Offered Certificates are priced to a 20% optional termination.
(2) In the event that the cleanup call is not exercised, the pass-through rate
on Class A-5 will increase by 0.50%.
(3) Class A-IO accrues interest on its scheduled notional balance, as described
herein.
(4) Initial notional balance.
Seller Conseco Finance Securitizations Corp.
Servicer Conseco Finance Corp.
Trustee U.S. Bank National Association, St. Xxxx, MN
Lead Underwriter Credit Suisse First Boston
Co-Underwriters Xxxxxx Xxxxxxxx
Xxxxxxx Xxxxx & Co.
Class A-IO Underwriter Credit Suisse First Boston
Rating Agencies Xxxxx'x Investors Service, Inc. ("Moody's")
Standard & Poor's ("S&P")
Fitch, Inc. ("Fitch")
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 2
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Cut-off Date February 28, 2001 for the Initial Contracts
and March 29, 2001 for the Additional
Contracts. For each Subsequent Contract, the
last day of either the calendar month in
which the subsequent closing occurs or the
last day of the preceding month, as
specified by the Seller.
Expected Pricing Week of March 12, 2001
Expected Settlement Date March 29, 2001
Registration Certificates will be available in book-entry
form through DTC, Euroclear or Clearstream.
Expected Final Maturity The expected final scheduled payment date on
the initial contract with the latest
maturity is in June 2031. The expected final
maturity of each class of certificates,
based on the assumptions that there are no
defaults, prepayments, or delinquencies on
payments due under the contracts and that
the repurchase option has not been exercised
and that there has been no auction sale, are
as follows:
Class
Expected Final Maturity
A-1
February 1, 2013
A-2
July 1, 2014
A-3
June 1, 2018
A-4
February 1, 2024
A-5
July 1, 2030
M-1
July 1, 2030
M-2
July 1, 2030
B-1
January 1, 2026
Remittance Date The 1st day of each month (or if such 1st
day is not a business day, the next
succeeding business day), commencing in May
2001.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 3
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Record Date The business day just before the related
remittance date.
Accrual Basis The Certificates will accrue interest at the
pass-through rate on a 30/360 basis. The
Certificates will settle flat (0 days
delay).
Offered Certificates The Class A-1, Class A-2, Class A-3, Class
A-4, Class A-5 and Class A-IO (collectively,
the "Class A Certificates"), the Class M-1,
Class M-2 and the Class B-1 Certificates are
being offered under the Prospectus
Supplement.
Other Certificates In addition to the Offered Certificates, the
Class B-2, Class B-3I and Class C
Certificates will also be issued. The Class
B-3I Certificates are interest-only
Certificates and the Class C Certificates
are residual Certificates. The Class B-2,
Class B-3I and Class C Certificates are not
being offered under the Prospectus
Supplement. The Class B-2 Certificates will
initially be retained by an affiliate of
Conseco Finance Corp. and have an initial
principal balance of $18,000,000. The Class
B-3I and Class C Certificates will be
retained by an affiliate of Conseco Finance
Corp. The Class B-2, Class B-3I and Class C
Certificates will be fully subordinated to
the Offered Certificates.
ERISA Subject to the conditions set forth in the
Prospectus Supplement, the Class A, M-1,
M-2, and B-1 Certificates are ERISA
eligible.
SMMEA The Class A and the Class M-1 Certificates
will not constitute "mortgage related
securities" under the Secondary Mortgage
Market Enhancement Act of 1984 ("SMMEA")
until such time as the amount in the
Pre-Funding Account is reduced to zero. At
such time, the Class A and Class M-1
Certificates will be "legal investments" for
certain types of institutional investors to
the extent provided in SMMEA. The Class M-2,
Class B-1 and Class B-2 Certificates are not
SMMEA eligible.
Tax Status Three separate REMIC Elections will be made
with respect to the Trust for federal income
tax purposes.
Clean-up Call 20% cleanup call or auction sale subject to
certain requirements if call is not
exercised.
Step-up Coupon In the event that the cleanup call is not
exercised, the pass-through rate on Class
A-5 will increase by 0.50%.
The Contract Pool On the Closing Date, the Trust expects to
purchase (i) manufactured housing contracts
having an aggregate principal balance of
approximately [$590,000,000] as of the
Cut-off Date (the "Initial Contracts") and
(ii) additional manufactured housing
contracts (the "Additional Contracts").
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 4
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Pre-Funding Account On the Closing Date, a portion of the
proceeds from the sale of the Certificates
(the "Pre-Funded Amount") will be deposited
with the Trustee in a segregated account
(the "Pre-Funding Account") and used by the
Trust to purchase additional contracts (the
"Subsequent Contracts") during a period (not
longer than 90 days) following the Closing
Date (the "Pre-Funding Period") for
inclusion in the Contract Pool. The
Subsequent Contracts will not exceed 25% of
the total Contract Pool. The Pre-Funded
Amount will be reduced during the
Pre-Funding Period by the amounts thereof
used to fund such purchases. Any amounts
remaining in the Pre-Funding Account
following the Pre-Funding Period will be
paid to the Class A Certificateholders, as
further specified in the Prospectus
Supplement, on the next Remittance Date.
Capitalized Interest Account Because the Trust might not acquire some of
the Contracts until after the Closing Date,
the Trust might not have sufficient
collections from Contracts to pay all the
interest due on the Certificates on the
first and second Remittance Dates. A
capitalized interest account will fund
interest payments on the Certificates on the
remittance dates in May and June 2001 if
collections on the Contracts are
insufficient.
Initial Credit Enhancement: Class A 19.00% subordination (Class
M-1, Class M-2, Class B-1,
Class B-2 and
overcollateralization) and
Excess Spread
Class M-1 13.00% subordination (Class
M-2, Class B-1, Class B-2
and overcollateralization)
and Excess Spread
Class M-2 8.00% subordination (Class
B-1, Class B-2 and
overcollateralization) and
Excess Spread
Class B-1 3.00% subordination (Class
B-2 and
overcollateralization) and
Excess Spread
There will be initial overcollateralization
of approximately 0% building to 1.5% (as
described in the next paragraph) of the sum
of (i) aggregate Cut-Off Date principal
balance of the Contracts included in the
Trust as of the Closing Date and (ii) the
amount on deposit in the Pre-Funding Account
on the Closing Date.
The Certificateholders will be entitled to
receive additional distributions in respect
of principal on each Remittance Date to the
extent there is any Amount Available
remaining after payment of all interest and
principal on the Certificates and the
Monthly Servicing Fee to the Servicer for
such Remittance Date, until such
distributions, in the aggregate, equal 1.5%
of the sum of (i) the aggregate Cut-Off Date
principal balance of the Contracts included
in the Trust as of the Closing Date and (ii)
the amount on deposit in the Pre-Funding
Account on the Closing Date. Such additional
distributions in respect of principal will
be paid in accordance with the distribution
priorities described herein and in the
Prospectus and Prospectus Supplement.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 5
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Class A-IO The Class A-IO Certificates will be
interest-only certificates, and will accrue
interest at a coupon of 2.50% per annum on a
notional balance of $120,000,000 initially.
Thereafter, for each Remittance Date the
Class A-IO Certificates will accrue interest
based on a notional balance equal to the
lesser of (i) the notional balance for that
Remittance Date set forth below in the Class
A-IO Notional Balance Schedule and (ii) the
sum of the aggregate principal balance of
the Contracts and the amount on deposit in
the Pre-Funding Account.
The Class A-IO Certificates will be rated
Aaa/AAA/AAA, and will only receive interest
payments up to and including the Remittance
Date in January 2007.
See "Interest on the Class A, Class M-1,
Class M-2 and Class B-1 Certificates" below.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 6
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Class A-IO Notional Balance Schedule
Payment Payment Payment
Date Notional Balance Date Notional Balance Date Notional Balance
May-01 120,000,000 Apr-03 100,200,000 Mar-05 77,400,000
Jun-01 120,000,000 May-03 97,200,000 Apr-05 77,400,000
Jul-01 120,000,000 Jun-03 97,200,000 May-05 75,000,000
Aug-01 117,400,000 Jul-03 97,200,000 Jun-05 75,000,000
Sep-01 117,400,000 Aug-03 94,000,000 Jul-05 75,000,000
Oct-01 117,400,000 Sep-03 94,000,000 Aug-05 72,800,000
Nov-01 114,800,000 Oct-03 94,000,000 Sep-05 72,800,000
Dec-01 114,800,000 Nov-03 91,200,000 Oct-05 72,800,000
Jan-02 114,800,000 Dec-03 91,200,000 Nov-05 70,600,000
Feb-02 112,000,000 Jan-04 91,200,000 Dec-05 70,600,000
Mar-02 112,000,000 Feb-04 88,200,000 Jan-06 70,600,000
Apr-02 112,000,000 Mar-04 88,200,000 Feb-06 68,400,000
May-02 109,200,000 Apr-04 88,200,000 Mar-06 68,400,000
Jun-02 109,200,000 May-04 85,400,000 Apr-06 68,400,000
Jul-02 109,200,000 Jun-04 85,400,000 May-06 66,200,000
Aug-02 106,200,000 Jul-04 85,400,000 Jun-06 66,200,000
Sep-02 106,200,000 Aug-04 82,800,000 Jul-06 66,200,000
Oct-02 106,200,000 Sep-04 82,800,000 Aug-06 64,200,000
Nov-02 103,200,000 Oct-04 82,800,000 Sep-06 64,200,000
Dec-02 103,200,000 Nov-04 80,000,000 Oct-06 64,200,000
Jan-03 103,200,000 Dec-04 80,000,000 Nov-06 62,200,000
Feb-03 100,200,000 Jan-05 80,000,000 Dec-06 62,200,000
Mar-03 100,200,000 Feb-05 77,400,000 Jan-07 62,200,000
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 7
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Distributions Certificateholders will be entitled to
receive on each Remittance Date commencing
in May 2001, to the extent that the Amount
Available in the Certificate Account is
sufficient therefor, distributions allocable
to interest and principal, as described in
the Prospectus Supplement. The Amount
Available on each Remittance Date generally
includes the sum of (i) payments on the
Contracts due and received during the
related Due Period, (ii) prepayments and
other unscheduled collections received
during the related Due Period, and (iii) all
collections of principal on the Contracts
received during the Due Period in which such
Remittance Date occurs up to and including
the third business day prior to such
Remittance Date (but in no event later than
the 25th day of the month prior to such
Remittance Date), minus (iv) with respect to
all Remittance Dates other than the
Remittance Date in May 2001, all collections
in respect of principal on the Contracts
received during the related Due Period up to
and including the third business day prior
to the preceding Remittance Date (but in no
event later than the 25th day of the prior
month).
The Amount Available in the Certificate
Account with respect to any Remittance Date
will be applied first to the distribution of
interest on the Class A, Class M-1, Class
M-2 and Class B-1 Certificates, and then to
the distribution of principal on the Class
A, Class M-1, Class M-2 and Class B-1
Certificates, in the manner and order of
priority described below, and then to the
distribution of interest and principal on
the Class B-2 Certificates.
The "Due Period" with respect to all
Remittance Dates other than the Remittance
Date in May 2001, is the period from and
including the 16th day of the second month
preceding such Remittance Date, to and
including the 15th day of the month
immediately preceding such Remittance Date.
With respect to the Remittance Date in May
2001, the Due Period is the period from and
including March 1, 2001 to and including
April 15, 2001.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 8
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Interest on the Class A, Interest will be distributed first to each
Class M-1, Class M-2 and of the Class A-1 Certificates, Class A-2
Class B-1 Certificates Certificates, Class A-3 Certificates, Class
A-4 Certificates, Class A-5 Certificates and
Class A-IO Certificates (interest on the
Class A-IO Certificates will be based on the
Class A-IO Notional Balance Schedule as
described herein), then to the Class M-1
Certificates, then to the Class M-2
Certificates and then to the Class B-1
Certificates. Interest on the outstanding
Class A Principal Balance, Class M-1
Adjusted Principal Balance, Class M-2
Adjusted Principal Balance, and Class B-1
Adjusted Principal Balance, as applicable,
will accrue from the Closing Date or from
the most recent Remittance Date on which
interest has been paid, to but excluding the
following Remittance Date.
Each Class of Certificates will bear
interest at a fixed Pass-Through Rate
calculated on a 30/360 basis.
The "Class M-1 Adjusted Principal Balance"
as of any Remittance Date is the Class M-1
Principal Balance less any Class M-1
Liquidation Loss Amount. The Class M-1
Principal Balance is the Original Class M-1
Principal Balance less all amounts
previously distributed on account of
principal on the Class M-1 Certificates.
The "Class M-2 Adjusted Principal Balance"
as of any Remittance Date is the Class M-2
Principal Balance less any Class M-2
Liquidation Loss Amount. The Class M-2
Principal Balance is the Original Class M-2
Principal Balance less all amounts
previously distributed on account of
principal on the Class M-2 Certificates.
The "Class B-1 Adjusted Principal Balance"
as of any Remittance Date is the Class B-1
Principal Balance less any Class B-1
Liquidation Loss Amount. The Class B-1
Principal Balance is the Original Class B-1
Principal Balance less all amounts
previously distributed on account of
principal on the Class B-1 Certificates.
In the event that, on a particular
Remittance Date, the Amount Available in the
Certificate Account, after payment of
interest on each Class of Certificates that
is senior to such Class of Certificates, is
not sufficient to make a full distribution
of interest to the holders of such Class of
Certificates, the amount of interest to be
distributed in respect of such Class will be
allocated among the outstanding Certificates
of such Class pro rata in accordance with
their respective entitlements to interest,
and the amount of the shortfall will be
carried forward and added to the amount such
holders will be entitled to receive on the
next Remittance Date. (For this purpose, all
Class A Certificates are considered a single
class.) Any such amount so carried forward
will bear interest at the applicable
Remittance Rate, to the extent legally
permissible.
Principal on the Class A, After the payment of all interest
Class M-1, Class M-2 and distributable to the Class A, Class M-1,
Class B-1 Certificates Class M-2, and Class B-1 Certificateholders,
principal will be distributable in the
following manner:
On each Remittance Date, the Class A
Percentage of the Formula Principal
Distribution Amount (as defined in the
Prospectus Supplement) will be distributed
sequentially to the Class A-1, Class A-2,
Class A-3, Class A-4, and Class A-5
Certificateholders.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 9
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
The Class A Percentage for any Remittance
Date will equal a fraction, expressed as a
percentage, the numerator of which is the
Class A Principal Balance as of such
Remittance Date, and the denominator of
which is the sum of: (i) the Class A
Principal Balance, (ii) if the Class M-1
Distribution Test is satisfied on such
Remittance Date, the Class M-1 Principal
Balance (minus the Unpaid Class M-1
Principal Shortfall, if any), otherwise
zero, (iii) if the Class M-2 Distribution
Test is satisfied on such Remittance Date,
the Class M-2 Principal Balance (minus the
Unpaid Class M-2 Principal Shortfall, if
any), otherwise zero, and (iv) if the Class
B Distribution Test is satisfied on such
Remittance Date, the sum of the Class B
Principal Balance (minus the Unpaid Class
B-1 Principal Shortfall and Unpaid Class B-2
Principal Shortfall, if any) and the
Overcollateralization Amount, otherwise
zero, all as of such Remittance Date.
The Class M-1 Percentage of the Formula
Principal Distribution Amount (as defined in
the Prospectus Supplement) will be
distributed to the Class M-1
Certificateholders on each Remittance Date
on which (i) the Class A Principal Balance
has been reduced to zero or (ii) the Class
M-1 Distribution Test is satisfied.
The Class M-1 Percentage for any Remittance
Date will equal (a) zero, if the Class A
Principal Balance has not yet been reduced
to zero and the Class M-1 Distribution Test
is not satisfied or (b) a fraction,
expressed as a percentage, the numerator of
which is the Class M-1 Principal Balance as
of such Remittance Date, and the denominator
of which is the sum of: (i) the Class A
Principal Balance, if any, (ii) the Class
M-1 Principal Balance, (iii) if the Class
M-2 Distribution Test is satisfied on such
Remittance Date, the Class M-2 Principal
Balance (minus the Unpaid Class M-2
Principal Shortfall, if any), otherwise zero
and (iv) if the Class B Distribution Test is
satisfied on such Remittance Date, the sum
of the Class B Principal Balance (minus the
Unpaid Class B-1 Principal Shortfall and
Unpaid Class B-2 Principal Shortfall, if
any) and the Overcollateralization Amount,
otherwise zero, all as of such Remittance
Date.
The Class M-1 Distribution Test will be
satisfied if each of the following tests is
satisfied: (i) the Remittance Date occurs in
or after May 2005; (ii) the Average
Sixty-Day Delinquency Ratio Test (as defined
in the Pooling and Servicing Agreement (the
"Agreement")) as of such Remittance Date
must not exceed 6.25%; (iii) Cumulative
Realized Losses (as defined in the
Agreement) as of such Remittance Date must
not exceed a certain specified percentage of
the Cut-off Date Pool Principal Balance,
depending on the year in which such
Remittance Date occurs; (iv) the Current
Realized Loss Ratio (as defined in the
Agreement) as of such Remittance Date must
not exceed 3.50%; and (v) the sum of the
Class M-1 Principal Balance, the Class M-2
Principal Balance, the Class B Principal
Balance, and the Overcollateralization
Amount divided by the Pool Scheduled
Principal Balance as of the immediately
preceding Remittance Date must be equal to
or greater than 30.75%.
The Class M-2 Percentage of the Formula
Principal Distribution Amount (as defined in
the Prospectus Supplement) will be
distributed to the Class M-2
Certificateholders on each Remittance Date
on which (i) the Class A Principal Balance
and Class M-1 Principal Balance have been
reduced to zero or (ii) the Class M-2
Distribution Test is satisfied.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 1O
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
The Class M-2 Percentage for any Remittance
Date will equal (a) zero, if the Class A
Principal Balance and Class M-1 Principal
Balance have not yet been reduced to zero
and the Class M-2 Distribution Test is not
satisfied or (b) a fraction, expressed as a
percentage, the numerator of which is the
Class M-2 Principal Balance as of such
Remittance Date, and the denominator of
which is the sum of: (i) the Class A
Principal Balance, if any, (ii) the Class
M-1 Principal Balance (minus the Unpaid
Class M-1 Principal Shortfall, if any),
otherwise zero, (iii) the Class M-2
Principal Balance (minus the Unpaid Class
M-2 Principal Shortfall, if any), otherwise
zero, and (iv) if the Class B Distribution
Test is satisfied on such Remittance Date,
the sum of the Class B Principal Balance
(minus the Unpaid Class B-1 Principal
Shortfall and Unpaid Class B-2 Principal
Shortfall, if any) and the
Overcollateralization Amount, otherwise
zero, all as of such Remittance Date.
The Class M-2 Distribution Test will be
satisfied if each of the following tests is
satisfied: (i) the Remittance Date occurs in
or after May 2005; (ii) the Average
Sixty-Day Delinquency Ratio Test (as defined
in the Agreement) as of such Remittance Date
must not exceed 6.25%; (iii) Cumulative
Realized Losses (as defined in the
Agreement) as of such Remittance Date must
not exceed a certain specified percentage of
the Cut-off Date Pool Principal Balance,
depending on the year in which such
Remittance Date occurs; (iv) the Current
Realized Loss Ratio (as defined in the
Agreement) as of such Remittance Date must
not exceed 3.50%; and (v) the sum of the
Class M-2 Principal Balance, the Class B
Principal Balance, and the
Overcollateralization Amount divided by the
Pool Scheduled Principal Balance as of the
immediately preceding Remittance Date must
be equal to or greater than 21.75%.
The Class B Percentage of the Formula
Principal Distribution Amount (as defined in
the Prospectus Supplement) will be
distributed to the Class B-1
Certificateholders on each Remittance Date
on which (i) the Class A Principal Balance,
the Class M-1 Principal Balance and the
Class M-2 Principal Balance have been
reduced to zero or (ii) the Class B
Distribution Test is satisfied. The Class B
Percentage for any Remittance Date will
equal (a) zero, if the Class A Principal
Balance, the Class M-1 Principal Balance and
the Class M-2 Principal Balance have not yet
been reduced to zero and the Class B
Distribution Test is not satisfied or (b) a
fraction, expressed as a percentage, the
numerator of which is the sum of the Class B
Principal Balance and the
Overcollateralization Amount as of such
Remittance Date, and the denominator of
which is the sum of: (i) the Class A
Principal Balance, if any, (ii) the Class
M-1 Principal Balance (minus the Unpaid
Class M-1 Principal Shortfall, if any),
otherwise zero, (iii) the Class M-2
Principal Balance (minus the Unpaid Class
M-2 Principal Shortfall, if any), otherwise
zero, and (iv) the sum of the Class B
Principal Balance (minus the Unpaid Class
B-1 Principal Shortfall and Unpaid Class B-2
Principal Shortfall, if any) and the
Overcollateralization Amount, otherwise
zero, all as of such Remittance Date.
The Class B Distribution Test will be
satisfied if each of the following tests is
satisfied: (i) the Remittance Date occurs in
or after May 2005; (ii) the Average
Sixty-Day Delinquency Ratio Test (as defined
in the Agreement) as of such Remittance Date
must not exceed 6.25%; (iii) the Cumulative
Realized Losses (as defined in the
Agreement) as of such Remittance Date must
not exceed a certain specified percentage of
the Cut-off Date Pool Principal Balance,
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 11
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
depending on the year in which such
Remittance Date occurs; (iv) the Current
Realized Loss Ratio (as defined in the
Agreement) as of such Remittance Date must
not exceed 3.50%; (v) the Class B Principal
Balance plus the Overcollateralization
amount divided by the Pool Scheduled
Principal Balance as of the immediately
preceding Remittance Date must be equal to
or greater than 14.25%; and (vi) the Class B
Principal Balance must not be less than
$12,000,000.
Purchase Option; Auction Sale Commencing on the first Remittance Date when
the aggregate scheduled principal balance of
the contracts is less than or equal to 20%
of the aggregate Cut-off Date principal
balance of the contracts, the holder of the
Class C Subsidiary Certificate (see "Other
Certificates" herein) will have the right to
purchase all of the outstanding contracts,
at a price sufficient to pay the aggregate
unpaid principal balance of the certificates
and all accrued and unpaid interest thereon.
If the holder of the Class C Subsidiary
Certificate does not exercise this purchase
option, then on the next Remittance Date the
trustee will begin an auction process to
sell the contracts and the other trust
assets at the highest possible price, but
the trustee cannot sell the trust assets and
liquidate the trust unless the proceeds of
such sale are sufficient to pay the
aggregate unpaid principal balance of the
certificates and all accrued and unpaid
interest thereon. If the first auction of
the trust property is not successful because
the highest bid received was not sufficient
to pay the amount set forth in the previous
sentence, then on each Remittance Date
thereafter all of the Amount Available
remaining after payments of interest and
principal due on all Certificates and
payment of the monthly Servicing Fee will be
used to make additional payments of
principal to the Class M-1, Class M-2, Class
B-1 and Class B-2 Certificates pro rata
based on the then outstanding principal
balance of such Certificates. In addition,
the trustee will continue to conduct an
auction of the contracts every third month
thereafter, until an acceptable bid is
received for the trust property. The Class C
Subsidiary Certificateholder's purchase
option will expire upon the trustee's
acceptance of a qualifying bid.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 12
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
Class B-2 Interest Interest on the outstanding Class B-2
Principal Balance will accrue from the
Closing Date, or from the most recent
Remittance Date on which interest has been
paid, to but excluding the following
Remittance Date.
To the extent of the remaining Amount
Available, if any, for a Remittance Date
after payment of all interest and principal
then payable on the Class A, Class M-1,
Class M-2 and Class B-1 Certificates,
interest will be paid to the Class B-2
Certificateholders on such Remittance Date
at the Class B-2 Remittance Rate on the then
outstanding Class B-2 Principal Balance. The
Class B-2 Principal Balance is the Original
Class B-2 Principal Balance less all amounts
previously distributed to the Class B-2
Certificateholders on account of principal.
In the event that, on a particular
Remittance Date, the remaining Amount
Available in the Certificate Account is not
sufficient to make a full distribution of
interest to the Class B-2
Certificateholders, the amount of the
deficiency will be carried forward as an
amount that the Class B-2 Certificateholders
are entitled to receive on the next
Remittance Date. Any amount so carried
forward will, to the extent legally
permissible, bear interest at the Class B-2
Remittance Rate.
Class B-2 Principal The Class B-2 Certificateholders will be
entitled to receive principal on each
Remittance Date on which (i) the Class B-1
Principal Balance has been reduced to zero
and (ii) the Class B Distribution Test is
satisfied; provided, however, that if the
Class A Principal Balance, the Class M-1
Principal Balance, the Class M-2 Principal
Balance and the Class B-1 Principal Balance
have been reduced to zero, the Class B-2
Certificateholders will nevertheless be
entitled to receive principal. See
"Description of the Certificates--Class B-2
Principal" in the Prospectus Supplement.
On each Remittance Date on which the Class
B-2 Certificateholders are entitled to
receive principal, the Class B Percentage of
the Formula Principal Distribution Amount
will be distributed, to the extent of the
remaining Amount Available after payment of
interest on the Class B-2 Certificates, to
the Class B-2 Certificateholders until the
Class B-2 Principal Balance has been reduced
to zero.
Losses on Liquidated If Net Liquidation Proceeds from Liquidated
Contracts Contracts in the respective collection
period are less than the Scheduled Principal
Balance of such Liquidated Contracts, the
shortfall amount will be absorbed by the
Class B-3I Certificateholders, then the
Monthly Servicing Fee (as long as Conseco
Finance Corp. is the Servicer), then the
Overcollateralization Amount, then the Class
B-2 Certificateholders, then the Class B-1
Certificateholders, then the Class M-2
Certificateholders and then the Class M-1
Certificateholders, since a portion of the
Amount Available equal to such shortfall and
otherwise distributable to them will be paid
to the Class A Certificateholders.
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 13
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
MANUFACTURED HOUSING CONTRACT CHARACTERISTICS
The information presented below relates to the Initial Contracts, which will
represent approximately 89.50% of the Contract Pool. Although the
characteristics of the Additional Contracts or the Subsequent Contracts will
differ from the characteristics of the Initial Contracts shown below, Conseco
Finance Corp. does not expect that the characteristics of the Additional or
Subsequent Contracts sold to the Trust will vary materially from the information
concerning the Initial Contracts herein.
THE INITIAL CONTRACT POOL AS OF THE CUT-OFF DATE
-------------------------------------------- --------------------------------
Number of Contracts: 14,719
Balance of Contracts: $537,014,241.35
Weighted Average Contract Rate: 12.735%
Range of Rates: 6.250% - 21.250%
Weighted Average Orig. Maturity: 320
Weighted Average Rem. Maturity: 311
Avg. Current Balance: $36,484.42
Weighted Average LTV: 87.57%
New/Used: 69.99% / 30.01%
Park/Private: 32.11% / 67.89%
Single/Multi: 29.44% / 70.56%
Conventional: 72.77%
Land/Home: 27.06%
FHA/VA: 0.15% / 0.02%
-------------------------------------------- --------------------------------
YEARS OF ORIGINATION OF INITIAL CONTRACTS
=============================================================================================================
Number of Aggregate Principal % of Contract Pool by
Contracts as of Balance Outstanding as Outstanding Balance as of
Year of Origination the Cut-off Date of the Cut-off Date the Cut-off Date
-------------------------------------------------------------------------------------------------------------
1984 29 $314,466.23 0.06%
1985 55 646,337.28 0.12
1986 2 11,559.83 0.00
1987 3 11,569.02 0.00
1988 6 41,613.87 0.01
1989 967 10,853,944.59 2.02
1990 897 9,779,715.50 1.82
1991 900 11,070,045.73 2.06
1992 1 6,808.18 0.00
1993 1 14,802.32 0.00
1997 1 92,983.49 0.02
1998 4 290,189.03 0.05
1999 17 1,547,644.77 0.29
2000 5,071 259,873,987.28 48.39
2001 6,765 242,458,574.23 45.15
TOTAL 14,719 $537,014,241.35 100.00%
-------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 14
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
GEOGRAPHIC DISTRIBUTION OF INITIAL CONTRACT OBLIGORS
=================================================================================================
Number of Aggregate Principal % of Contract Pool by
Contracts as of Balance Outstanding as Outstanding Balance as of
States the Cut-off Date of the Cut-off Date the Cut-off Date
-------------------------------------------------------------------------------------------------
Alabama 999 $29,757,685.71 5.54%
Alaska 1 174,800.52 0.03
Arizona 476 19,917,751.34 3.71
Arkansas 272 9,046,259.25 1.68
California 588 24,040,488.02 4.48
Colorado 270 12,321,827.43 2.29
Connecticut 7 226,117.13 0.04
Delaware 80 2,788,795.64 0.52
Florida 831 34,440,052.69 6.41
Georgia 904 32,182,632.98 5.99
Idaho 32 1,381,672.28 0.26
Illinois 137 4,255,250.52 0.79
Indiana 316 11,921,268.36 2.22
Iowa 79 2,296,450.69 0.43
Kansas 168 5,628,593.94 1.05
Kentucky 291 9,124,587.36 1.70
Louisiana 217 6,583,278.61 1.23
Maine 116 4,143,739.99 0.77
Maryland 78 1,759,094.49 0.33
Massachusetts 4 73,455.62 0.01
Michigan 986 42,591,278.26 7.93
Minnesota 165 4,854,271.36 0.90
Mississippi 408 10,183,027.03 1.90
Missouri 297 8,235,832.17 1.53
Montana 47 1,563,930.87 0.29
Nebraska 45 1,657,400.05 0.31
Nevada 136 4,256,282.60 0.79
New Hampshire 73 4,411,079.87 0.82
New Jersey 7 264,501.03 0.05
New Mexico 444 14,882,853.93 2.77
New York 229 7,413,369.72 1.38
North Carolina 1,110 34,982,396.50 6.51
North Dakota 20 581,017.19 0.11
Ohio 327 11,831,672.17 2.20
Oklahoma 329 11,428,795.41 2.13
Oregon 177 10,166,295.23 1.89
Pennsylvania 267 10,380,826.76 1.93
Rhode Island 4 189,844.83 0.04
South Carolina 846 27,819,522.74 5.18
South Dakota 41 1,387,879.15 0.26
Tennessee 427 13,451,966.13 2.50
Texas 1,441 59,434,064.50 11.07
Utah 48 1,991,887.78 0.37
Vermont 32 1,879,839.27 0.35
Virginia 340 7,978,400.17 1.49
Washington 300 22,707,815.27 4.23
West Virginia 183 4,782,238.39 0.89
Wisconsin 78 1,861,221.08 0.35
Wyoming 46 1,780,929.32 0.33
TOTAL 14,719 $537,014,241.35 100.00%
-------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 15
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
DISTRIBUTION OF ORIGINAL INITIAL CONTRACT AMOUNTS
============================================================================================================
Number of Aggregate Principal % of Contract Pool by
Contracts as of Balance Outstanding as Outstanding Balance as of
Original Contract Amount the Cut-off Date of the Cut-off Date the Cut-off Date
------------------------------------------------------------------------------------------------------------
$0.01 - $ 10,000.00 165 $1,191,572.99 0.22%
$ 10,000.01 - $ 20,000.00 3,004 33,248,996.10 6.19
$ 20,000.01 - $ 30,000.00 3,728 84,556,298.46 15.75
$ 30,000.01 - $ 40,000.00 2,653 88,156,594.86 16.42
$ 40,000.01 - $ 50,000.00 1,754 77,340,934.49 14.40
$ 50,000.01 - $ 60,000.00 1,254 68,387,472.24 12.73
$ 60,000.01 - $ 70,000.00 742 47,781,056.46 8.90
$ 70,000.01 - $ 80,000.00 442 33,106,804.95 6.16
$ 80,000.01 - $ 90,000.00 295 24,830,217.83 4.62
$ 90,000.01 - $100,000.00 199 18,765,906.00 3.49
$100,000.01 - $110,000.00 143 14,971,277.63 2.79
$110,000.01 - $120,000.00 122 13,961,153.94 2.60
$120,000.01 - $130,000.00 78 9,728,276.14 1.81
$130,000.01 - $140,000.00 49 6,561,601.76 1.22
$140,000.01 - $150,000.00 38 5,463,924.38 1.02
$150,000.01 - $160,000.00 18 2,769,152.56 0.52
$160,000.01 - $170,000.00 15 2,466,552.75 0.46
$170,000.01 - $180,000.00 9 1,561,236.68 0.29
$180,000.01 - $190,000.00 3 560,194.35 0.10
$190,000.01 - $200,000.00 5 970,857.94 0.18
$200,000.01 - $210,000.00 1 202,500.00 0.04
$210,000.01 - $220,000.00 1 209,747.59 0.04
$220,000.01 - $230,000.00 1 221,911.25 0.04
TOTAL 14,719 $537,014,241.35 100.00%
------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 16
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
CONTRACT RATE OF INITIAL CONTRACTS
============================================================================================================
Number of Aggregate Principal % of Contract Pool by
Contracts as of Balance Outstanding as Outstanding Balance as of
Initial Contract Rates the Cut-off Date of the Cut-off Date the Cut-off Date
------------------------------------------------------------------------------------------------------------
6.000% to 6.999% 2 $140,259.98 0.03%
7.000% to 7.999% 24 2,500,584.60 0.47
8.000% to 8.999% 341 31,443,632.31 5.86
9.000% to 9.999% 1,162 77,782,394.83 14.48
10.000% to 10.999% 551 37,913,477.82 7.06
11.000% to 11.999% 1,536 80,033,059.68 14.90
12.000% to 12.999% 1,281 59,016,794.13 10.99
13.000% to 13.999% 3,132 75,661,333.07 14.09
14.000% to 14.999% 2,390 53,429,826.48 9.95
15.000% to 15.999% 1,004 29,164,029.95 5.43
16.000% to 16.999% 1,056 31,899,884.68 5.94
17.000% to 17.999% 1,403 38,826,505.83 7.23
18.000% to 18.999% 775 18,207,771.33 3.39
19.000% to 19.999% 43 672,997.02 0.13
20.000% to 20.999% 13 202,944.94 0.04
21.000% to 21.999% 6 118,744.70 0.02
TOTAL 14,719 $537,014,241.35 100.00%
------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 17
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
DISTRIBUTION OF ORIGINAL LOAN-TO-VALUE RATIOS OF INITIAL CONTRACTS
============================================================================================================
Number of Aggregate Principal % of Contract Pool by
Contracts as of Balance Outstanding as Outstanding Balance as of
Loan-to-Value Ratio the Cut-off Date of the Cut-off Date the Cut-off Date
------------------------------------------------------------------------------------------------------------
0.01 to 5.00% 1 $9,823.34 0.00%
5.01 to 10.00% 3 187,734.85 0.03
10.01 to 15.00% 3 54,771.49 0.01
15.01 to 20.00% 8 198,507.00 0.04
20.01 to 25.00% 12 291,676.83 0.05
25.01 to 30.00% 22 597,777.42 0.11
30.01 to 35.00% 31 890,881.06 0.17
35.01 to 40.00% 32 1,128,868.07 0.21
40.01 to 45.00% 66 2,064,330.00 0.38
45.01 to 50.00% 72 2,008,576.10 0.37
50.01 to 55.00% 115 3,848,604.18 0.72
55.01 to 60.00% 147 5,296,436.39 0.99
60.01 to 65.00% 192 6,927,633.24 1.29
65.01 to 70.00% 291 10,748,053.71 2.00
70.01 to 75.00% 419 15,905,394.17 2.96
75.01 to 80.00% 1,261 45,034,472.35 8.39
80.01 to 85.00% 1,105 37,775,556.40 7.03
85.01 to 90.00% 6,013 195,252,763.62 36.36
90.01 to 95.00% 4,429 186,173,993.85 34.67
95.01 to 100.00% 497 22,618,387.28 4.21
TOTAL 14,719 $537,014,241.35 100.00%
------------------------------------------------------------------------------------------------------------
REMAINING MONTHS TO MATURITY OF INITIAL CONTRACTS
============================================================================================================
Number of Aggregate Principal % of Contract Pool by
Months Remaining As of Contracts as of Balance Outstanding as Outstanding Balance as of
Cut-off Date the Cut-off Date of the Cut-off Date the Cut-off Date
------------------------------------------------------------------------------------------------------------
1 to 30 387 $1,267,776.60 0.24%
31 to 60 1,393 12,774,844.56 2.38
61 to 90 682 7,893,134.27 1.47
91 to 120 960 17,682,112.87 3.29
121 to 150 281 6,218,182.92 1.16
151 to 180 1,105 25,015,958.55 4.66
181 to 210 4 120,974.44 0.02
211 to 240 1,871 54,308,795.20 10.11
271 to 300 1,204 38,327,856.71 7.14
301 to 330 1 30,576.00 0.01
331 to 360 6,831 373,374,029.23 69.53
TOTAL 14,719 $537,014,241.35 100.00%
------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 18
SUISSE BOSTON
CONSECO FINANCE SECURIZATIONS CORP.
Manufactured Housing Contract Senior/Subordinate Pass-Through Certificates,
Series 2001-1
$600,000,000 (approximate)
--------------------------------------------------------------------------------
PREPAYMENT SENSITIVITIES
---------------------------------------------------------------------------------------------------------
75% MHP 125% MHP 175% MHP 250% MHP 300% MHP
WAL/Maturity WAL/Maturity WAL/Maturity WAL/Maturity WAL/Maturity
--------------------- -------------------- --------------------- -------------------- -------------------
To Call
A-1 1.84 02/05 1.29 12/03 1.00 05/03 0.75 11/02 0.64 08/02
A-2 4.21 11/05 2.91 06/04 2.25 09/03 1.70 02/03 1.45 11/02
A-3 5.77 04/08 3.92 01/06 3.00 11/04 2.24 12/03 1.92 07/03
A-4 10.00 07/14 6.90 08/10 5.00 02/08 3.41 08/05 2.90 11/04
A-5 18.73 02/22 14.18 06/17 10.85 11/13 7.61 07/10 6.15 01/09
M-1 15.51 02/22 11.50 06/17 9.22 11/13 7.43 07/10 6.61 01/09
M-2 15.51 02/22 11.50 06/17 9.22 11/13 7.43 07/10 6.61 01/09
B-1 11.44 01/18 8.01 06/13 6.60 02/11 5.88 06/09 5.58 10/08
To Maturity
A-5 20.14 02/28 15.88 05/25 12.43 10/21 8.80 02/17 7.11 10/14
M-1 16.08 12/26 12.07 02/22 9.83 08/18 8.18 08/15 7.46 06/14
M-2 16.08 12/26 12.07 02/22 9.83 08/18 8.18 08/15 7.46 06/14
B-1 11.44 01/18 8.01 06/13 6.60 02/11 5.88 06/09 5.58 10/08
--------------------------------------------------------------------------------
The above analysis is not intended to be a prospectus and any investment
decision with respect to the security should be made by you based solely upon
all of the information contained in the final prospectus. Under no circumstances
shall the information presented constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
The securities may not be sold nor may an offer to buy be accepted prior to the
delivery of a final prospectus relating to the securities. The above preliminary
description of the underlying assets has been provided by the issuer and has not
been independently verified by Credit Suisse First Boston. All information
described above is preliminary, limited in nature and subject to completion or
amendment. Credit Suisse First Boston makes no representations that the above
referenced security will actually perform as described in any scenario
presented.
CREDIT FIRST 19
SUISSE BOSTON
