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FREMONT HOME LOAN TRUST 1999-3
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PAINEWEBBER INCORPORATED
PRELIMINARY BACKGROUND INFORMATION
FREMONT HOME LOAN TRUST 1999-3
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DISCLAIMER
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The information included herein is produced and provided exclusively by
PaineWebber Incorporated ("PW") as one of the underwriters for the Fremont Home
Loan Trust 1999-3, Home Loan Asset-Backed Certificates, Series 1999-3, and not
by or as agent for Fremont Investment & Loan or any of its affiliates
(collectively, the "Transferor" and "Master Servicer") or for PaineWebber
Mortgage Acceptance Corporation IV (the "Depositor"). Neither the Depositor nor
the Transferor has prepared, reviewed or participated in the preparation hereof,
nor are they responsible for the accuracy hereof and they have not authorized
the dissemination hereof. The analysis in this report is accurate to the best of
PW's knowledge and is based on information provided by the Transferor. PW makes
no representations as to the accuracy of such information provided by the
Transferor. THE INFORMATION HEREIN IS PRELIMINARY, AND WILL BE SUPERSEDED IN ITS
ENTIRETY BY THE APPLICABLE PROSPECTUS SUPPLEMENT AND PROSPECTUS AND BY ANY OTHER
INFORMATION SUBSEQUENTLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
All opinions and conclusions in this report reflect PW's judgment as of this
date and are subject to change. All analyses are based on certain assumptions
noted herein and different assumptions could yield substantially different
results. You are cautioned that there is no universally accepted method for
analyzing financial instruments. You should review the assumptions; there may be
differences between these assumptions and your actual business practices.
Further, PW does not guarantee any results and there is no guarantee as to the
liquidity of the instruments involved in this analysis. The decision to adopt
any strategy remains your responsibility. PW (or any of its affiliates) or their
officers, directors, analysts or employees may have positions in securities,
commodities or derivative instruments thereon referred to herein, and may, as
principal or agent, buy or sell such securities, commodities or derivative
instruments. In addition, PW may make a market in the securities referred to
herein. Neither the information nor the opinions expressed shall be construed to
be, or constitute, an offer to sell or buy or a solicitation of an offer to sell
or buy any securities, commodities or derivative instruments mentioned herein.
Finally, PW has not addressed the legal, accounting and tax implications of the
analysis with respect to you and PW strongly urges you to seek advice from your
counsel, accountant and tax advisor.
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FREMONT HOME LOAN TRUST 1999-3
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DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
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POOL 1 POOL 2
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Number of Loans: 3,106 175
Current Balance: $313,004,978 $52,973,385
Average Balance: $100,774 $302,705
Minimum Balance: $11,965 $239,469
Maximum Balance: $291,000 $500,000
Wtd Average Coupon: 9.959% 9.545%
Wtd Average Original Term (months): 358 359
Wtd Average Seasoning (months): 2 3
Wtd Average Original Loan-To-Value: 78.46% 79.02%
Amortization Type:
ARM loans (% of Statistical Pool Principal Balance): 91.67% 96.60%
Fixed loans (% of Statistical Pool Principal Balance): 8.33% 3.40%
ARM Summary Information:
Wtd Avg Initial Periodic Rate Cap: 2.933% 2.925%
Wtd Avg Subsequent Periodic Rate Cap: 1.444% 1.447%
Wtd Avg Margin: 6.238% 6.174%
Wtd Avg Life Cap: 16.845% 16.420%
Wtd Avg Months to Roll: 29 27
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
State California 710 94,168,581 30.09
Illinois 263 24,265,402 7.75
Florida 256 21,697,965 6.93
Washington 185 21,662,046 6.92
New Jersey 137 15,024,580 4.80
New York 140 13,886,124 4.44
Utah 108 11,361,468 3.63
Michigan 161 11,257,466 3.60
Ohio 127 8,853,416 2.83
Arizona 98 8,706,521 2.78
Massachusetts 71 8,683,735 2.77
Oregon 74 8,028,030 2.56
Colorado 76 7,534,925 2.41
Nevada 51 5,596,578 1.79
Missouri 75 5,037,908 1.61
Pennsylvania 73 4,559,909 1.46
Indiana 66 4,367,158 1.40
Georgia 39 3,816,198 1.22
Idaho 40 3,215,037 1.03
North Carolina 34 3,209,164 1.03
Wisconsin 42 3,156,575 1.01
Connecticut 30 2,874,474 0.92
Kansas 24 1,993,752 0.64
New Hampshire 21 1,964,962 0.63
Minnesota 24 1,894,108 0.61
South Carolina 19 1,736,255 0.55
Oklahoma 20 1,654,488 0.53
New Mexico 17 1,645,714 0.53
Texas 19 1,538,786 0.49
Maryland 15 1,492,609 0.48
Alaska 11 1,289,802 0.41
Montana 12 1,234,051 0.39
Tennessee 12 859,996 0.27
Rhode Island 7 658,552 0.21
Hawaii 4 618,500 0.20
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
State (continued) Kentucky 8 507,133 0.16
Virginia 5 500,335 0.16
Maine 6 497,089 0.16
Delaware 4 451,307 0.14
Vermont 4 348,924 0.11
Arkansas 4 279,627 0.09
Louisiana 4 228,753 0.07
Mississippi 2 186,963 0.06
West Virginia 3 164,960 0.05
Nebraska 2 121,184 0.04
Iowa 2 98,041 0.03
District of Columbia 1 75,824 0.02
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3,106 $313,004,978 100.00%
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Original LTV 10.001% - 15.000% 1 25,000 0.01
15.001% - 20.000% 2 59,900 0.02
20.001% - 25.000% 7 289,462 0.09
25.001% - 30.000% 11 693,596 0.22
30.001% - 35.000% 14 922,174 0.29
35.001% - 40.000% 14 630,900 0.20
40.001% - 45.000% 25 1,495,538 0.48
45.001% - 50.000% 41 2,775,375 0.89
50.001% - 55.000% 36 2,872,074 0.92
55.001% - 60.000% 91 6,989,430 2.23
60.001% - 65.000% 153 12,628,213 4.03
65.001% - 70.000% 292 25,520,718 8.15
70.001% - 75.000% 472 48,378,394 15.46
75.001% - 80.000% 1,033 103,962,725 33.21
80.001% - 85.000% 457 50,571,030 16.16
85.001% - 90.000% 457 55,190,450 17.63
------ ----------- ------
3,106 $313,004,978 100.00%
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THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PAINEWEBBER
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Current Coupon 7.001% - 8.000% 64 8,167,774 2.61
8.001% - 9.000% 526 64,019,406 20.45
9.001% - 10.000% 1,081 114,948,012 36.72
10.001% - 11.000% 882 81,974,583 26.19
11.001% - 12.000% 402 33,539,532 10.72
12.001% - 13.000% 120 8,459,809 2.70
13.001% - 14.000% 31 1,895,862 0.61
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3,106 $313,004,978 100.00%
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Current Balance $10,000.01- $15,000.00 2 26,939 0.01
$15,000.01- $20,000.00 8 159,206 0.05
$20,000.01- $30,000.00 68 1,853,243 0.59
$30,000.01- $40,000.00 188 6,675,243 2.13
$40,000.01- $50,000.00 225 10,279,643 3.28
$50,000.01- $100,000.00 1,273 94,379,124 30.15
$100,000.01- $250,000.00 1,339 198,812,073 63.52
$250,000.01- $500,000.00 3 819,508 0.26
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3,106 $313,004,978 100.00%
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Property Type Single Family 2,701 274,593,742 87.73
Two Family 193 19,066,782 6.09
Three Family 24 2,955,149 0.94
Four Family 24 2,882,542 0.92
Condo 124 10,337,678 3.30
Manufactured 40 3,169,087 1.01
------ ----------- ------
3,106 $313,004,978 100.00%
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Loan Age 0 1,154 111,915,866 35.76
1 931 96,841,389 30.94
2 202 21,086,756 6.74
3 121 13,068,856 4.18
4 74 7,950,985 2.54
5 83 8,040,619 2.57
6 75 7,580,247 2.42
7 68 6,739,200 2.15
8 or more 398 39,781,059 12.71
------ ----------- ------
3,106 $313,004,978 100.00%
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THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PAINEWEBBER
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Remaining Term Less than 353 441 42,874,063 13.70
353 67 6,690,905 2.14
354 71 7,202,390 2.30
355 82 7,988,182 2.55
356 73 7,919,298 2.53
357 117 12,669,705 4.05
358 202 21,086,756 6.74
359 917 95,903,663 30.64
360 1,136 110,670,016 35.36
------ ----------- ------
3,106 $313,004,978 100.00%
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Occupancy Owner Occupied 2,800 290,334,769 92.76
Non-Owner Occupied 306 22,670,209 7.24
------ ----------- ------
3,106 $313,004,978 100.00%
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Credit Grade A 461 47,977,930 15.33
A- 1,006 115,549,041 36.92
B 865 85,311,618 27.26
C 593 50,256,088 16.06
C- 120 9,306,360 2.97
D 61 4,603,941 1.47
------ ----------- ------
3,106 $313,004,978 100.00%
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Margin Fixed 310 26,069,987 8.33
3.501 - 3.750% 1 48,490 0.02
3.751 - 4.000% 1 55,584 0.02
4.001 - 4.250% 2 99,151 0.03
4.251 - 4.500% 3 337,708 0.11
4.501 - 4.750% 9 896,678 0.29
4.751 - 5.000% 22 2,527,172 0.81
5.001 - 5.250% 36 3,506,564 1.12
5.251 - 5.500% 211 24,450,041 7.81
5.501 - 5.750% 137 14,835,418 4.74
5.751 - 6.000% 677 73,421,342 23.46
6.001 - 6.250% 690 71,101,884 22.72
6.251 - 6.500% 253 26,960,803 8.61
6.501 - 6.750% 338 33,457,393 10.69
6.751 - 7.000% 90 8,647,399 2.76
7.001 - 7.250% 155 12,532,003 4.00
7.251 - 7.500% 60 4,918,387 1.57
7.501 - 7.750% 49 3,688,693 1.18
7.751 - 8.000% 28 2,632,445 0.84
8.001 - 8.250% 11 1,093,117 0.35
8.251 - 8.500% 11 703,076 0.22
8.501 - 8.750% 6 607,306 0.19
8.751 - 9.000% 3 246,975 0.08
9.001 - 9.250% 1 88,971 0.03
9.251 - 9.500% 1 42,575 0.01
9.751 - 10.000% 1 35,816 0.01
------ ----------- ------
3,106 $313,004,978 100.00%
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Rate Reset Fixed 310 26,069,987 8.33
1999/10 8 1,156,695 0.37
1999/11 12 1,175,415 0.38
1999/12 12 1,182,227 0.38
2000/01 25 2,567,306 0.82
2000/02 10 1,111,298 0.36
2000/03 3 648,707 0.21
2000/04 6 552,750 0.18
2000/06 5 450,085 0.14
2000/07 10 488,804 0.16
2000/08 13 1,116,076 0.36
2000/09 19 2,037,804 0.65
2000/10 94 9,472,034 3.03
2000/11 147 14,998,537 4.79
2000/12 59 5,778,547 1.85
2001/01 27 2,836,827 0.91
2001/02 70 7,211,923 2.30
2001/03 62 6,187,622 1.98
2001/04 39 3,967,204 1.27
2001/05 33 3,440,581 1.10
2001/06 87 9,763,628 3.12
2001/07 425 46,230,928 14.77
2001/08 385 39,294,373 12.55
2001/09 82 7,871,983 2.51
2001/10 12 1,115,686 0.36
2001/11 20 1,896,448 0.61
2001/12 11 968,063 0.31
2002/01 7 664,961 0.21
2002/02 7 661,100 0.21
2002/03 17 1,653,346 0.53
2002/04 25 2,916,265 0.93
2002/05 98 10,345,082 3.31
2002/06 38 3,869,835 1.24
2002/07 287 29,280,523 9.35
2002/08 253 25,167,567 8.04
2002/09 60 6,019,875 1.92
2003/04 1 75,461 0.02
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Rate Reset (continued) 2003/05 1 80,078 0.03
2003/06 1 63,489 0.02
2003/12 1 139,031 0.04
2004/05 1 179,772 0.06
2004/06 18 1,643,857 0.53
2004/07 151 15,415,449 4.92
2004/08 123 12,512,423 4.00
2004/09 31 2,725,330 0.87
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3,106 $313,004,978 100.00%
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Life Cap Fixed 310 26,069,987 8.33
13.001% - 14.000% 10 1,102,533 0.35
14.001% - 15.000% 95 12,279,465 3.92
15.001% - 16.000% 520 62,747,178 20.05
16.001% - 17.000% 977 104,031,061 33.24
17.001% - 18.000% 742 69,420,613 22.18
18.001% - 19.000% 346 29,297,363 9.36
19.001% - 20.000% 93 7,062,777 2.26
20.001% - 21.000% 13 994,001 0.32
------ ----------- ------
3,106 $313,004,978 100.00%
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FREMONT HOME LOAN TRUST 1999-3
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
DESCRIPTION OF HOME EQUITY LOANS AS OF THE STATISTICAL
CALCULATION DATE (8/25/99)
POOL 1 INFORMATION (CONTINUED)
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Aggregate Field Description Count Balance$ Pool%
--------------- ----------- ----- -------- -----
Life Floor Fixed 310 26,069,987 8.33
7.001% - 8.000% 63 7,894,890 2.52
8.001% - 9.000% 485 60,105,680 19.20
9.001% - 10.000% 983 105,601,143 33.74
10.001% - 11.000% 791 74,130,614 23.68
11.001% - 12.000% 362 30,703,998 9.81
12.001% - 13.000% 96 7,332,274 2.34
13.001% - 14.000% 16 1,166,390 0.37
------ ----------- ------
3,106 $313,004,978 100.00%
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