BEAR XXXXXXX BEAR, XXXXXXX & CO. INC.
ATLANTA o BOSTON o CHICAGO ASSET-BACKED SECURITIES GROUP
DALLAS o LOS ANGELES o NEW YORK o SAN FRANCISCO 000 Xxxxxxx Xxxxxx
FRANKFORT o GENEVA o HONG KONG New York, N.Y. 10179
LONDON o PARIS o TOKYO (000) 000-0000;
(000) 000-0000 fax
--------------------------------------------------------------------------------
NEW ISSUE COMPUTATIONAL MATERIALS
$580,000,000
MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES,
SERIES 2002-RZ3
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.
Depositor
RAMP SERIES 2002-RZ3 TRUST
Issuer
RESIDENTIAL FUNDING CORPORATION
Master Servicer
AUGUST 5, 2002
________________________________________________________________________________
This information should be considered only after reading Bear Xxxxxxx' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER
INFORMATION
--------------------------------------------------------------------------------
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES, AND OTHER
INFORMATION
The information contained in the attached materials (the "Information") may
include various forms of performance analysis, security characteristics and
securities pricing estimates for the securities addressed. Please read and
understand this entire statement before utilizing the Information. Should you
receive Information that refers to the "Statement Regarding Assumptions and
Other Information," please refer to this statement instead.
The Information is illustrative and is not intended to predict actual results
which may differ substantially from those reflected in the Information.
Performance analysis is based on certain assumptions with respect to significant
factors that may prove not to be as assumed. You should understand the
assumptions and evaluate whether they are appropriate for your purposes.
Performance results are based on mathematical models that use inputs to
calculate results. As with all models, results may vary significantly depending
upon the value of the inputs given. Inputs to these models include but are not
limited to: prepayment expectations (economic prepayment models, single expected
lifetime prepayments or a vector of periodic prepayments), interest rate
assumptions (parallel and nonparallel changes for different maturity
instruments), collateral assumptions (actual pool level data, aggregated pool
level data, reported factors or imputed factors), volatility assumptions
(historically observed or implied current) and reported information (paydown
factors, rate resets, and trustee statements). Models used in any analysis may
be proprietary making the results difficult for any third party to reproduce.
Contact your registered representative for detailed explanations of any modeling
techniques employed in the Information.
The Information addresses only certain aspects of the applicable security's
characteristics and thus does not provide a complete assessment. As such, the
Information may not reflect the impact of all structural characteristics of the
security, including call events and cash flow priorities at all prepayment
speeds and/or interest rates. You should consider whether the behavior of these
securities should be tested as assumptions different from those included in the
Information. The assumptions underlying the Information, including structure and
collateral, may be modified from time to time to reflect changed circumstances.
Any investment decision should be based only on the data in the prospectus and
the prospectus supplement or private placement memorandum (Offering Documents)
and the then current version of the Information. Offering Documents contain data
that is current as of their publication dates and after publication may no
longer be complete or current. Contact your registered representative for
Offering Documents, current Information or additional materials, including other
models for performance analysis, which are likely to produce different results,
and any further explanation regarding the Information.
Any pricing estimates Bear Xxxxxxx has supplied at your request (a) represent
our view, at the time determined, of the investment value of the securities
between the estimated bid and offer levels, the spread between which may be
significant due to market volatility or illiquidity, (b) do not constitute a bid
by any person for any security, (c) may not constitute prices at which the
securities could have been purchased or sold in any market, (d) have not been
confirmed by actual trades, may vary from the value Bear Xxxxxxx assigns any
such security while in its inventory, and may not take into account the size of
a position you have in the security, and (e) may have been derived from matrix
pricing that uses data relating to other securities whose prices are more
readily ascertainable to produce a hypothetical price based on the estimated
yield spread relationship between the securities.
General Information: The data underlying the Information has been obtained from
sources that we believe are reliable, but we do not guarantee the accuracy of
the underlying data or computations based thereon. Bear Xxxxxxx and/or
individuals thereof may have positions in these securities while the Information
is circulating or during such period may engage in transactions with the issuer
or its affiliates. We act as principal in transactions with you, and
accordingly, you must determine the appropriateness for you of such transactions
and address any legal, tax, or accounting considerations applicable to you. Bear
Xxxxxxx shall not be a fiduciary or advisor unless we have agreed in writing to
receive compensation specifically to act in such capacities. If you are subject
to ERISA, the Information is being furnished on the condition that it will not
form a primary basis for any investment decision. The Information is not a
solicitation of any transaction in securities which may be made only by
prospectus when required by law, in which event you may obtain such prospectus
from Bear Xxxxxxx.
________________________________________________________________________________
This information should be considered only after reading Bear Xxxxxxx' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.
RAMP SERIES 2002- RZ3 TRUST
Computational Materials: Term Sheet
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------
Current Principal Balance (as of $473,037,460.76
7/1/02)
------------------------------------
Loan Count
3,146
Average Original Balance $150,434
Range of Original Balance $17,510 -
$596,400
$0.01 to $100,000.00 13.92%
$100,000.01 to $200,000.00 50.64%
$200,000.01 to $300,000.00 25.79%
$300,000.01 to $400,000.00 7.10%
$400,000.01 to $500,000.00 1.86%
$500,000.01 to $600,000.00 0.70%
--------------------------------------------------------
WA Gross Coupon 8.713%
Range of Gross Coupons 6.000% - 11.625%
6.000% to 6.499% 0.05%
7.000% to 7.499% 1.27%
7.500% to 7.999% 15.54%
8.000% to 8.499% 24.96%
8.500% to 8.999% 28.98%
9.000% to 9.499% 10.24%
9.500% to 9.999% 10.40%
10.000% to 10.499% 4.59%
10.500% to 10.999% 3.08%
11.000% to 11.499% 0.68%
11.500% to 11.999% 0.20%
--------------------------------------------------------
WA Age (months) 0
WA Original Term to Maturity
(months) 354
--------------------------------------------------------
--------------------------------------------------------
Balloon / Fully Amortizing 3.22% / 96.78%
First Lien / Second Lien 100.00% / 0.00%
WA Debt-to-Income Ratio
39.54%
--------------------------------------------------------
--------------------------------------------------------
WA Credit Score
701
Range of Credit Scores 580 - 819
599 or Less 2.72%
600 to 619 7.15%
620 to 639 9.33%
640 to 659 7.36%
660 to 679 6.50%
680 to 699 11.51%
700 to 719 9.94%
720 to 739 16.84%
740 to 759 14.06%
760 to 779 9.24%
780 to 799 4.19%
800 or Greater 1.16%
--------------------------------------------------------
________________________________________________________________________________
This information should be considered only after reading Bear Xxxxxxx' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.
RAMP SERIES 2002- RZ3 TRUST
Computational Materials: Term Sheet
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------
WA Original LTV
102.11%
Range of Original LTV 51.00% - 107.00%
85.00% or Less 0.14%
85.01% to 90.00% 0.15%
90.01% to 95.00% 6.22%
95.01% to 100.00% 33.30%
100.01% to 101.00% 1.45%
101.01% to 102.00% 2.91%
102.01% to 103.00% 29.03%
103.01% to 104.00% 4.00%
104.01% to 105.00% 3.68%
105.01% to 106.00% 3.10%
106.01% to 107.00% 16.03%
--------------------------------------------------------
CREDIT GRADE
A1 44.73%
A2 20.34%
A3 13.43%
A4 15.42%
AX 2.83%
AM 3.24%
--------------------------------------------------------
--------------------------------------------------------
PROPERTY TYPE
SF Detached 72.39%
PUD Detached 11.71%
Low-Rise Condo 7.84%
2-4 Family 3.92%
PUD Attached 3.22%
Townhouse 0.93%
--------------------------------------------------------
OCCUPANCY STATUS
Primary Residence 94.85%
Non-Owner Occupied 4.20%
Second Home 0.95%
--------------------------------------------------------
DOCUMENTATION
Full Documentation 85.35%
Limited Documentation 14.65%
--------------------------------------------------------
LOAN PURPOSE
Purchase 79.31%
Equity Refinance 15.88%
Rate/Term Refinance 4.81%
--------------------------------------------------------
________________________________________________________________________________
This information should be considered only after reading Bear Xxxxxxx' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.
RAMP SERIES 2002- RZ3 TRUST
Computational Materials: Term Sheet
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.
--------------------------------------------------------
PREPAYMENT PENALTY TERM
None 43.64%
12 months 5.20%
24 months 1.39%
36 months 45.86%
42 months 0.11%
60 months 2.72%
Other (not more than 60 months) 1.07%
--------------------------------------------------------
--------------------------------------------------------
GEOGRAPHIC CONCENTRATION (> 3%)
26.43% CA
6.45% FL
5.48% TX
4.39% MI
4.17% WA
3.86% GA
3.47% AZ
3.07% CO
3.06% OR
39.61% Other
--------------------------------------------------------
________________________________________________________________________________
This information should be considered only after reading Bear Xxxxxxx' Statement
Regarding Assumptions as to Securities, Pricing Estimates and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed this Statement. You may obtain
a copy of the Statement from your sales representative.
