XXXXXXX, XXXXX & CO.
First Franklin FFMLT 2005 FFA
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Summary
--------------------------------------------------------------------------------
Scheduled Principal Balance: $758,811,144
Number of Mortgage Loans: 15,480
Average Scheduled Principal Balance: $49,019
Weighted Average Gross Coupon: 9.456%
Weighted Average Net Coupon: 8.946%
Weighted Average Original FICO Score: 662
Weighted Average Original LTV Ratio: 19.53%
Weighted Average Combined Original LTV Ratio: 99.26%
Weighted Average Stated Remaining Term (months): 222
Weighted Average Seasoning(months): 7
--------------------------------------------------------------------------------
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE AVERAGE PRINCIPAL
CURRENT PRINCIPAL BALANCE LOANS BALANCE BALANCE GROSS COUPON CURRENT FICO BALANCE
------------------------- ---------- ------------- ---------- ------------ ------------ ---------
$25,000 and Below ........ 2,852 $ 56,304,730 7.42% 9.854 645 $19,742
$25,001 - $50,000 ........ 7,050 253,281,020 33.38 9.729 653 35,926
$50,001 - $75,000 ........ 3,066 187,459,673 24.70 9.464 662 61,141
$75,001 -$100,000......... 1,452 125,175,807 16.50 9.325 668 86,209
$100,001 -$125,000 ....... 606 67,733,726 8.93 9.130 675 111,772
$125,001 -$150,000 ....... 302 41,429,080 5.46 8.863 681 137,182
$150,001 - $200,000 ...... 138 23,821,927 3.14 8.404 700 172,623
$200,001 - $250,000 ...... 11 2,710,846 0.36 8.118 677 246,441
$250,001 - $300,000 ...... 3 894,336 0.12 7.580 694 298,112
------- ------------ ------ ------ ---- -------
Total..................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE PERCENT
COMBO. PERCENT OWNER
CURRENT PRINCIPAL BALANCE ORIGINAL LTV FULL DOC OCCUPIED
-------------------------- ------------ --------- ---------
$25,000 and Below ........ 99.58% 99.35% 100.00%
$25,001 - $50,000 ........ 99.61 98.51 99.99
$50,001 - $75,000 ........ 99.48 98.39 100.00
$75,001 -$100,000......... 99.41 97.38 100.00
$100,001 -$125,000 ....... 99.30 95.41 100.00
$125,001 -$150,000 ....... 98.14 99.34 99.64
$150,001 - $200,000 ...... 96.60 100.00 100.00
$200,001 - $250,000 ...... 83.93 100.00 100.00
$250,001 - $300,000 ...... 81.51 100.00 100.00
------ ------ ------
Total..................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE AVERAGE PRINCIPAL
CURRENT RATE LOANS BALANCE BALANCE GROSS COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
5.99 and below ........... 2 $ 91,697 0.01% 5.332 703 $45,848
6.00 - 6.49 .............. 14 670,913 0.09 6.000 665 47,922
6.50 - 6.99 .............. 1 25,805 0.00 6.875 725 25,805
7.00 - 7.49 .............. 5 803,545 0.11 7.250 726 160,709
7.50 - 7.99 .............. 840 61,131,152 8.06 7.958 729 72,775
8.00 - 8.49 .............. 2,054 116,644,390 15.37 8.197 715 56,789
8.50 - 8.99 .............. 2,819 143,797,659 18.95 8.705 677 51,010
9.00 - 9.49 .............. 1,903 96,629,505 12.73 9.248 657 50,777
9.50 - 9.99 .............. 2,088 97,667,541 12.87 9.717 647 46,776
10.00 - 10.49 ............ 1,082 50,029,249 6.59 10.216 630 46,238
10.50 - 10.99 ............ 2,053 88,428,056 11.65 10.704 618 43,073
11.00 - 11.49 ............ 1,333 53,395,700 7.04 11.118 622 40,057
11.50 - 11.99 ............ 1,256 48,281,200 6.36 11.634 610 38,440
12.00 - 12.49 ............ 30 1,214,731 0.16 12.006 609 40,491
------- ------------ ------ ------ ---- -------
Total: ................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
COMBO. PERCENT PERCENT OWNER
CURRENT RATE ORIGINAL LTV FULL DOC OCCUPIED
-------------------------- ------------ --------- ---------
5.99 and below ........... 100.00% 100.00% 100.00%
6.00 - 6.49 .............. 99.87 100.00 100.00
6.50 - 6.99 .............. 100.00 100.00 100.00
7.00 - 7.49 .............. 83.50 100.00 100.00
7.50 - 7.99 .............. 98.26 99.76 100.00
8.00 - 8.49 .............. 99.23 99.54 100.00
8.50 - 8.99 .............. 99.27 96.22 99.90
9.00 - 9.49 .............. 99.30 97.31 100.00
9.50 - 9.99 .............. 99.52 96.61 100.00
10.00 - 10.49 ............ 99.07 97.09 100.00
10.50 - 10.99 ............ 99.35 99.83 100.00
11.00 - 11.49 ............ 99.68 99.91 100.00
11.50 - 11.99 ............ 99.80 99.76 99.92
12.00 - 12.49 ............ 99.91 100.00 100.00
------ ------- ------
Total: ................... 99.26% 98.18% 99.98%
====== ======= ======
--------------------------------------------------------------------------------
THIS MATERIAL HAS BEEN PREPARED SPECIFICALLY FOR YOU BY THE FIXED INCOME SALES
AND TRADING DEPARTMENT AND IS NOT THE PRODUCT OF FIXED INCOME RESEARCH. THIS
MATERIAL CONTAINS INDICATIVE TERMS ONLY. ALL MATERIAL CONTAINED HEREIN,
INCLUDING PROPOSED TERMS AND CONDITIONS ARE FOR DISCUSSION PURPOSES ONLY.
FINALIZED TERMS AND CONDITIONS ARE SUBJECT TO FURTHER DISCUSSION AND
NEGOTIATION. THIS MATERIAL IS FOR YOUR PRIVATE INFORMATION AND WE ARE NOT
SOLICITING ANY ACTION BASED UPON IT. THIS MATERIAL IS NOT TO BE CONSTRUED AS AN
OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY ANY SECURITY IN ANY
JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD BE ILLEGAL. OPINIONS
EXPRESSED ARE OUR PRESENT OPINIONS ONLY, AND ANY INFORMATION OR INDICATIONS
CONTAINED IN THIS MATERIAL ARE CURRENT AS OF THE DATE APPEARING ON THIS MATERIAL
ONLY. THE MATERIAL IS BASED UPON INFORMATION WHICH WE CONSIDER RELIABLE BUT WE
DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE, AND IT SHOULD NOT BE RELIED
UPON AS SUCH. THE INFORMATION CONTAINED IN THIS MATERIAL MAY BE BASED ON
ASSUMPTIONS REGARDING MARKET CONDITIONS AND OTHER MATTERS AS REFLECTED THEREIN.
WE MAKE NO REPRESENTATIONS REGARDING THE REASONABLENESS OF SUCH ASSUMPTIONS OR
THE LIKELIHOOD THAT ANY OF SUCH ASSUMPTIONS WILL COINCIDE WITH ACTUAL MARKET
CONDITIONS OR EVENTS AND THIS MATERIAL SHOULD NOT BE RELIED UPON FOR SUCH
PURPOSES. XXXXXXX XXXXX SHALL HAVE NO LIABILITY, CONTINGENT OR OTHERWISE, TO THE
USER OR TO THIRD PARTIES, FOR THE QUALITY, ACCURACY, TIMELINESS, CONTINUED
AVAILABILITY OR COMPLETENESS OF THE DATA NOR FOR ANY SPECIAL, INDIRECT,
INCIDENTAL OR CONSEQUENTIAL DAMAGES WHICH MAY BE INCURRED OR EXPERIENCED BECAUSE
OF THE USE OF THE DATA OR CALCULATIONS MADE AVAILABLE HEREIN, EVEN IF XXXXXXX
XXXXX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. CERTAIN TRANSACTIONS,
INCLUDING THOSE INVOLVING FUTURES, OPTIONS AND HIGH YIELD SECURITIES, GIVE RISE
TO SUBSTANTIAL RISK AND ARE NOT SUITABLE FOR ALL INVESTORS. WE AND OUR
AFFILIATES, OFFICERS, DIRECTORS, PARTNERS AND EMPLOYEES, INCLUDING PERSONS
INVOLVED IN THE PREPARATION OR ISSUANCE OF THIS MATERIAL MAY, FROM TIME TO TIME,
HAVE LONG OR SHORT POSITIONS IN, AND BUY OR SELL, THE SECURITIES MENTIONED
THEREIN OR DERIVATIVES THEREOF (INCLUDING OPTIONS). XXXXXXX XXXXX DOES NOT
PROVIDE ACCOUNTING, TAX OR LEGAL ADVICE; SUCH MATTERS SHOULD BE DISCUSSED WITH
YOUR ADVISORS AND OR COUNSEL. IN ADDITION, WE MUTUALLY AGREE THAT, SUBJECT TO
APPLICABLE LAW, YOU MAY DISCLOSE ANY AND ALL ASPECTS OF THIS MATERIAL THAT ARE
NECESSARY TO SUPPORT ANY U.S. FEDERAL INCOME TAX BENEFITS, WITHOUT XXXXXXX XXXXX
IMPOSING ANY LIMITATION OF ANY KIND. THIS MATERIAL HAS BEEN ISSUED BY XXXXXXX,
XXXXX & CO. AND HAS BEEN APPROVED BY XXXXXXX XXXXX INTERNATIONAL, WHICH IS
REGULATED BY THE FINANCIAL SERVICES AUTHORITY, IN CONNECTION WITH ITS
DISTRIBUTION IN THE UNITED KINGDOM AND BY XXXXXXX XXXXX CANADA IN CONNECTION
WITH ITS DISTRIBUTION IN CANADA. FURTHER INFORMATION ON ANY OF THE SECURITIES,
FUTURES OR OPTIONS MENTIONED IN THIS MATERIAL MAY BE OBTAINED UPON REQUEST AND
FOR THIS PURPOSE PERSONS IN ITALY SHOULD CONTACT XXXXXXX XXXXX S.I.M.S.P.A. IN,
MILAN, OR AT ITS LONDON BRANCH OFFICE AT 000 XXXXX XXXXXX.
--------------------------------------------------------------------------------
XXXXXXX, XXXXX & CO.
First Franklin FFMLT 2005 FFA
--------------------------------------------------------------------------------
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE AVERAGE PRINCIPAL
CREDIT SCORE LOANS BALANCE BALANCE GROSS COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
740 & Above............... 832 $ 50,308,999 6.63% 8.114 762 $60,468
720-739................... 609 35,720,654 4.71 8.125 728 58,655
700-719................... 1,026 59,547,800 7.85 8.124 708 58,039
680-699................... 1,569 92,079,713 12.13 8.405 689 58,687
660-679................... 2,130 114,191,620 15.05 8.921 668 53,611
640-659................... 2,986 146,745,485 19.34 9.536 649 49,145
620-639................... 3,053 134,023,348 17.66 10.527 629 43,899
600-619................... 3,275 126,193,527 16.63 11.014 609 38,532
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
COMBO. PERCENT PERCENT OWNER
CREDIT SCORE ORIGINAL LTV FULL DOC OCCUPIED
-------------------------- ------------ --------- ---------
740 & Above............... 99.40% 97.99% 100.00%
720-739................... 99.45 98.57 100.00
700-719................... 99.24 96.84 100.00
680-699................... 99.16 96.35 100.00
660-679................... 99.20 96.85 99.87
640-659................... 99.25 97.85 100.00
620-639................... 99.28 99.85 100.00
600-619................... 99.30 99.93 99.97
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE AVERAGE PRINCIPAL
LIEN LOANS BALANCE BALANCE GROSS COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
2......................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
WEIGHTED
AVERAGE
COMBO. PERCENT FULL PERCENT OWNER
LIEN ORIGINAL LTV DOC OCCUPIED
-------------------------- ------------ --------- ---------
2......................... 99.26% 98.18% 99.98%
Total:.................... 99.26% 98.18% 99.98%
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE GROSS AVERAGE PRINCIPAL
COMBINED ORIGINAL LTV LOANS BALANCE BALANCE COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
60.00 and Below........... 8 $ 423,611 0.06% 8.948 657 $52,951
60.01 - 70.00............. 5 745,604 0.10 8.239 654 149,121
70.01 - 80.00............. 15 1,652,276 0.22 8.811 642 110,152
80.01 - 85.00............. 37 4,543,340 0.60 8.599 662 122,793
85.01 - 90.00............. 235 15,417,067 2.03 8.906 663 65,605
90.01 - 95.00............. 576 33,071,201 4.36 9.237 664 57,415
95.01 - 100.00............ 14,604 702,958,045 92.64 9.487 662 48,135
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
COMBO. PERCENT FULL PERCENT OWNER
COMBINED ORIGINAL LTV ORIGINAL LTV DOC OCCUPIED
-------------------------- ------------ --------- ---------
60.00 and Below........... 37.51% 100.00% 100.00%
60.01 - 70.00............. 69.18 100.00 100.00
70.01 - 80.00............. 78.18 100.00 100.00
80.01 - 85.00............. 83.19 100.00 100.00
85.01 - 90.00............. 89.67 98.50 100.00
90.01 - 95.00............. 94.49 97.46 100.00
95.01 - 100.00............ 99.92 98.19 99.97
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE GROSS AVERAGE PRINCIPAL
DOCUMENTATION LOANS BALANCE BALANCE COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
FULL DOC.................. 15,245 $745,007,160 98.18% 9.460 662 $48,869
LIMITED DOC............... 225 13,407,075 1.77 9.177 684 59,587
ASSET ONLY................ 9 358,036 0.05 10.353 635 39,782
STATED DOC................ 1 38,873 0.01 9.875 656 38,873
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
COMBO. PERCENT FULL PERCENT OWNER
DOCUMENTATION ORIGINAL LTV DOC OCCUPIED
-------------------------- ------------ --------- ---------
FULL DOC.................. 99.26% 100.00% 99.97%
LIMITED DOC............... 99.34 0.00 100.00
ASSET ONLY................ 99.69 0.00 100.00
STATED DOC................ 100.00 0.00 100.00
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE GROSS AVERAGE PRINCIPAL
PURPOSE LOANS BALANCE BALANCE COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
Purchase.................. 13,693 $675,351,652 89.00% 9.427 664 $49,321
Cashout Refi.............. 1,487 70,756,931 9.32 9.682 649 47,584
Refinance - No Cashout.... 300 12,702,562 1.67 9.736 648 42,342
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
COMBO. PERCENT FULL PERCENT OWNER
PURPOSE ORIGINAL LTV DOC OCCUPIED
-------------------------- ------------ --------- ---------
Purchase.................. 99.43% 98.14% 99.97%
Cashout Refi.............. 97.90 98.42 100.00
Refinance - No Cashout.... 97.67 99.04 100.00
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
--------------------------------------------------------------------------------
THIS MATERIAL HAS BEEN PREPARED SPECIFICALLY FOR YOU BY THE FIXED INCOME SALES
AND TRADING DEPARTMENT AND IS NOT THE PRODUCT OF FIXED INCOME RESEARCH. THIS
MATERIAL CONTAINS INDICATIVE TERMS ONLY. ALL MATERIAL CONTAINED HEREIN,
INCLUDING PROPOSED TERMS AND CONDITIONS ARE FOR DISCUSSION PURPOSES ONLY.
FINALIZED TERMS AND CONDITIONS ARE SUBJECT TO FURTHER DISCUSSION AND
NEGOTIATION. THIS MATERIAL IS FOR YOUR PRIVATE INFORMATION AND WE ARE NOT
SOLICITING ANY ACTION BASED UPON IT. THIS MATERIAL IS NOT TO BE CONSTRUED AS AN
OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY ANY SECURITY IN ANY
JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD BE ILLEGAL. OPINIONS
EXPRESSED ARE OUR PRESENT OPINIONS ONLY, AND ANY INFORMATION OR INDICATIONS
CONTAINED IN THIS MATERIAL ARE CURRENT AS OF THE DATE APPEARING ON THIS MATERIAL
ONLY. THE MATERIAL IS BASED UPON INFORMATION WHICH WE CONSIDER RELIABLE BUT WE
DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE, AND IT SHOULD NOT BE RELIED
UPON AS SUCH. THE INFORMATION CONTAINED IN THIS MATERIAL MAY BE BASED ON
ASSUMPTIONS REGARDING MARKET CONDITIONS AND OTHER MATTERS AS REFLECTED THEREIN.
WE MAKE NO REPRESENTATIONS REGARDING THE REASONABLENESS OF SUCH ASSUMPTIONS OR
THE LIKELIHOOD THAT ANY OF SUCH ASSUMPTIONS WILL COINCIDE WITH ACTUAL MARKET
CONDITIONS OR EVENTS AND THIS MATERIAL SHOULD NOT BE RELIED UPON FOR SUCH
PURPOSES. XXXXXXX XXXXX SHALL HAVE NO LIABILITY, CONTINGENT OR OTHERWISE, TO THE
USER OR TO THIRD PARTIES, FOR THE QUALITY, ACCURACY, TIMELINESS, CONTINUED
AVAILABILITY OR COMPLETENESS OF THE DATA NOR FOR ANY SPECIAL, INDIRECT,
INCIDENTAL OR CONSEQUENTIAL DAMAGES WHICH MAY BE INCURRED OR EXPERIENCED BECAUSE
OF THE USE OF THE DATA OR CALCULATIONS MADE AVAILABLE HEREIN, EVEN IF XXXXXXX
XXXXX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. CERTAIN TRANSACTIONS,
INCLUDING THOSE INVOLVING FUTURES, OPTIONS AND HIGH YIELD SECURITIES, GIVE RISE
TO SUBSTANTIAL RISK AND ARE NOT SUITABLE FOR ALL INVESTORS. WE AND OUR
AFFILIATES, OFFICERS, DIRECTORS, PARTNERS AND EMPLOYEES, INCLUDING PERSONS
INVOLVED IN THE PREPARATION OR ISSUANCE OF THIS MATERIAL MAY, FROM TIME TO TIME,
HAVE LONG OR SHORT POSITIONS IN, AND BUY OR SELL, THE SECURITIES MENTIONED
THEREIN OR DERIVATIVES THEREOF (INCLUDING OPTIONS). XXXXXXX XXXXX DOES NOT
PROVIDE ACCOUNTING, TAX OR LEGAL ADVICE; SUCH MATTERS SHOULD BE DISCUSSED WITH
YOUR ADVISORS AND OR COUNSEL. IN ADDITION, WE MUTUALLY AGREE THAT, SUBJECT TO
APPLICABLE LAW, YOU MAY DISCLOSE ANY AND ALL ASPECTS OF THIS MATERIAL THAT ARE
NECESSARY TO SUPPORT ANY U.S. FEDERAL INCOME TAX BENEFITS, WITHOUT XXXXXXX XXXXX
IMPOSING ANY LIMITATION OF ANY KIND. THIS MATERIAL HAS BEEN ISSUED BY XXXXXXX,
XXXXX & CO. AND HAS BEEN APPROVED BY XXXXXXX XXXXX INTERNATIONAL, WHICH IS
REGULATED BY THE FINANCIAL SERVICES AUTHORITY, IN CONNECTION WITH ITS
DISTRIBUTION IN THE UNITED KINGDOM AND BY XXXXXXX XXXXX CANADA IN CONNECTION
WITH ITS DISTRIBUTION IN CANADA. FURTHER INFORMATION ON ANY OF THE SECURITIES,
FUTURES OR OPTIONS MENTIONED IN THIS MATERIAL MAY BE OBTAINED UPON REQUEST AND
FOR THIS PURPOSE PERSONS IN ITALY SHOULD CONTACT XXXXXXX XXXXX S.I.M.S.P.A. IN,
MILAN, OR AT ITS LONDON BRANCH OFFICE AT 000 XXXXX XXXXXX.
--------------------------------------------------------------------------------
XXXXXXX, XXXXX & CO.
First Franklin FFMLT 2005 FFA
--------------------------------------------------------------------------------
PERCENT OF WEIGHTED
POOL BY WEIGHTED AVERAGE AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE CURRENT PRINCIPAL
OCCUPANCY LOANS BALANCE BALANCE GROSS COUPON FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
Owner Occupied............ 15,478 $758,623,663 99.98% 9.456 662 $49,013
Non-Owner Occupied........ 2 187,481 0.02 9.555 656 93,741
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $ 58,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE PERCENT
COMBO. PERCENT FULL OWNER
OCCUPANCY ORIGINAL LTV DOE OCCUPIED
-------------------------- ------------ --------- ---------
Owner Occupied............ 99.26% 98.18% 100.00%
Non-Owner Occupied........ 100.00 100.00 0.00
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF WEIGHTED
POOL BY AVERAGE WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL GROSS AVERAGE PRINCIPAL
PROPERTY TYPE LOANS BALANCE BALANCE COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
SINGLE FAMILY............. 10,058 $473,597,109 62.41% 9.486 661 $47,087
PUD....................... 3,435 180,878,481 23.84 9.514 659 52,657
CONDO..................... 1,570 80,446,590 10.60 9.216 671 51,240
2-4 FAMILY................ 417 23,888,964 3.15 9.207 676 57,288
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE PERCENT
COMBO. PERCENT FULL OWNER
PROPERTY TYPE ORIGINAL LTV DOC OCCUPIED
-------------------------- ------------ --------- ---------
SINGLE FAMILY............. 99.32% 98.14% 100.00%
PUD....................... 99.08 98.03 99.98
CONDO..................... 99.52 98.34 100.00
2-4 FAMILY................ 98.70 99.56 99.37
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF WEIGHTED
POOL BY AVERAGE AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL GROSS WEIGHTED AVERAGE PRINCIPAL
STATE LOANS BALANCE BALANCE COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
CA........................ 4,327 $334,116,804 44.03% 9.129 674 $77,217
FL........................ 894 35,203,984 4.64 9.570 655 39,378
TX........................ 989 32,676,876 4.31 9.815 652 33,040
CO........................ 622 27,298,703 3.60 9.710 649 43,889
WA........................ 645 26,931,416 3.55 9.673 659 41,754
GA........................ 677 24,604,342 3.24 10.108 646 36,343
OR........................ 662 24,534,751 3.23 9.415 662 37,062
MD........................ 430 22,719,436 2.99 9.801 654 52,836
TN........................ 638 17,242,229 2.27 8.783 642 27,025
MN........................ 419 17,234,378 2.27 9.693 657 41,132
Other..................... 5,177 196,248,224 25.86 9.788 654 37,908
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE PERCENT
COMBO. PERCENT OWNER
STATE ORIGINAL LTV FULL DOC OCCUPIED
-------------------------- ------------ --------- ---------
CA........................ 98.96% 98.26% 99.96%
FL........................ 99.25 96.31 100.00
TX........................ 99.41 96.95 100.00
CO........................ 99.38 99.28 100.00
WA........................ 99.68 97.59 100.00
GA........................ 99.78 98.46 99.85
OR........................ 99.68 96.31 100.00
MD........................ 99.40 98.63 100.00
TN........................ 99.90 98.72 100.00
MN........................ 99.60 98.59 100.00
Other..................... 99.46 98.59 100.00
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
--------------------------------------------------------------------------------
THIS MATERIAL HAS BEEN PREPARED SPECIFICALLY FOR YOU BY THE FIXED INCOME SALES
AND TRADING DEPARTMENT AND IS NOT THE PRODUCT OF FIXED INCOME RESEARCH. THIS
MATERIAL CONTAINS INDICATIVE TERMS ONLY. ALL MATERIAL CONTAINED HEREIN,
INCLUDING PROPOSED TERMS AND CONDITIONS ARE FOR DISCUSSION PURPOSES ONLY.
FINALIZED TERMS AND CONDITIONS ARE SUBJECT TO FURTHER DISCUSSION AND
NEGOTIATION. THIS MATERIAL IS FOR YOUR PRIVATE INFORMATION AND WE ARE NOT
SOLICITING ANY ACTION BASED UPON IT. THIS MATERIAL IS NOT TO BE CONSTRUED AS AN
OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY ANY SECURITY IN ANY
JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD BE ILLEGAL. OPINIONS
EXPRESSED ARE OUR PRESENT OPINIONS ONLY, AND ANY INFORMATION OR INDICATIONS
CONTAINED IN THIS MATERIAL ARE CURRENT AS OF THE DATE APPEARING ON THIS MATERIAL
ONLY. THE MATERIAL IS BASED UPON INFORMATION WHICH WE CONSIDER RELIABLE BUT WE
DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE, AND IT SHOULD NOT BE RELIED
UPON AS SUCH. THE INFORMATION CONTAINED IN THIS MATERIAL MAY BE BASED ON
ASSUMPTIONS REGARDING MARKET CONDITIONS AND OTHER MATTERS AS REFLECTED THEREIN.
WE MAKE NO REPRESENTATIONS REGARDING THE REASONABLENESS OF SUCH ASSUMPTIONS OR
THE LIKELIHOOD THAT ANY OF SUCH ASSUMPTIONS WILL COINCIDE WITH ACTUAL MARKET
CONDITIONS OR EVENTS AND THIS MATERIAL SHOULD NOT BE RELIED UPON FOR SUCH
PURPOSES. XXXXXXX XXXXX SHALL HAVE NO LIABILITY, CONTINGENT OR OTHERWISE, TO THE
USER OR TO THIRD PARTIES, FOR THE QUALITY, ACCURACY, TIMELINESS, CONTINUED
AVAILABILITY OR COMPLETENESS OF THE DATA NOR FOR ANY SPECIAL, INDIRECT,
INCIDENTAL OR CONSEQUENTIAL DAMAGES WHICH MAY BE INCURRED OR EXPERIENCED BECAUSE
OF THE USE OF THE DATA OR CALCULATIONS MADE AVAILABLE HEREIN, EVEN IF XXXXXXX
XXXXX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. CERTAIN TRANSACTIONS,
INCLUDING THOSE INVOLVING FUTURES, OPTIONS AND HIGH YIELD SECURITIES, GIVE RISE
TO SUBSTANTIAL RISK AND ARE NOT SUITABLE FOR ALL INVESTORS. WE AND OUR
AFFILIATES, OFFICERS, DIRECTORS, PARTNERS AND EMPLOYEES, INCLUDING PERSONS
INVOLVED IN THE PREPARATION OR ISSUANCE OF THIS MATERIAL MAY, FROM TIME TO TIME,
HAVE LONG OR SHORT POSITIONS IN, AND BUY OR SELL, THE SECURITIES MENTIONED
THEREIN OR DERIVATIVES THEREOF (INCLUDING OPTIONS). XXXXXXX XXXXX DOES NOT
PROVIDE ACCOUNTING, TAX OR LEGAL ADVICE; SUCH MATTERS SHOULD BE DISCUSSED WITH
YOUR ADVISORS AND OR COUNSEL. IN ADDITION, WE MUTUALLY AGREE THAT, SUBJECT TO
APPLICABLE LAW, YOU MAY DISCLOSE ANY AND ALL ASPECTS OF THIS MATERIAL THAT ARE
NECESSARY TO SUPPORT ANY U.S. FEDERAL INCOME TAX BENEFITS, WITHOUT XXXXXXX XXXXX
IMPOSING ANY LIMITATION OF ANY KIND. THIS MATERIAL HAS BEEN ISSUED BY XXXXXXX,
XXXXX & CO. AND HAS BEEN APPROVED BY XXXXXXX XXXXX INTERNATIONAL, WHICH IS
REGULATED BY THE FINANCIAL SERVICES AUTHORITY, IN CONNECTION WITH ITS
DISTRIBUTION IN THE UNITED KINGDOM AND BY XXXXXXX XXXXX CANADA IN CONNECTION
WITH ITS DISTRIBUTION IN CANADA. FURTHER INFORMATION ON ANY OF THE SECURITIES,
FUTURES OR OPTIONS MENTIONED IN THIS MATERIAL MAY BE OBTAINED UPON REQUEST AND
FOR THIS PURPOSE PERSONS IN ITALY SHOULD CONTACT XXXXXXX XXXXX S.I.M.S.P.A. IN,
MILAN, OR AT ITS LONDON BRANCH OFFICE AT 000 XXXXX XXXXXX.
--------------------------------------------------------------------------------
XXXXXXX, XXXXX & CO.
First Franklin FFMLT 2005 FFA
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PERCENT OF WEIGHTED
POOL BY WEIGHTED AVERAGE AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE GROSS CURRENT PRINCIPAL
ZIP LOANS BALANCE BALANCE COUPON FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
91913..................... 50 $ 4,583,526 0.60% 8.616 694 $91,671
92555..................... 43 3,042,736 0.40 9.374 664 70,761
92336..................... 29 2,294,176 0.30 9.088 681 79,110
92592..................... 23 2,195,922 0.29 9.488 658 95,475
92345..................... 43 2,182,986 0.29 9.927 657 50,767
92562..................... 25 2,117,225 0.28 9.533 656 84,689
92880..................... 22 2,083,502 0.27 9.680 653 94,705
92126..................... 23 1,875,603 0.25 8.966 680 81,548
92154..................... 23 1,752,973 0.23 9.014 675 76,216
92571..................... 31 1,750,378 0.23 9.426 664 56,464
Other..................... 15,168 734,932,119 96.85 9.462 662 48,453
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
COMBO. PERCENT PERCENT OWNER
ZIP ORIGINAL LTV FULL DOC OCCUPIED
-------------------------- ------------ --------- ---------
91913..................... 99.04% 98.47% 100.00%
92555..................... 99.97 100.00 100.00
92336..................... 99.09 100.00 100.00
92592..................... 99.64 94.33 100.00
92345..................... 99.83 95.58 100.00
92562..................... 98.65 100.00 100.00
92880..................... 99.63 100.00 100.00
92126..................... 99.31 88.92 100.00
92154..................... 99.10 100.00 100.00
92571..................... 99.74 100.00 100.00
Other..................... 99.26 98.19 99.97
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
REMAINING MONTHS NUMBER OF PRINCIPAL PRINCIPAL AVERAGE GROSS AVERAGE PRINCIPAL
TO MATURITY LOANS BALANCE BALANCE COUPON CURRENT FICO BALANCE
-------------------------- ---------- ------------- ---------- ------------ ------------ ---------
1-180..................... 3,497 $148,931,376 19.63% 9.475 658 $42,588
181-240................... 11,983 609,879,768 80.37 9.451 663 50,895
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
REMAINING MONTHS COMBO. PERCENT FULL PERCENT OWNER
TO MATURITY ORIGINAL LTV DOC OCCUPIED
-------------------------- ------------ --------- ---------
1-180..................... 99.21% 98.44% 99.97%
181-240................... 99.28 98.12 99.98
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
PERCENT OF
POOL BY WEIGHTED WEIGHTED AVERAGE
NUMBER OF PRINCIPAL PRINCIPAL AVERAGE GROSS AVERAGE PRINCIPAL
AMORTIZATION TYPE LOANS BALANCE BALANCE COUPON CURRENT FICO BALANCE
------------------------- ---------- ------------- ---------- ------------ ------------ ---------
20 YR FIXED BAL 2ND....... 11,480 $588,789,318 77.59% 9.450 663 $51,288
15 YR FIXED BAL 2ND....... 3,266 139,813,801 18.43 9.469 658 42,809
20 YR FIXED 2ND........... 503 21,090,450 2.78 9.472 664 41,929
15 YR FIXED 2ND........... 197 7,763,771 1.02 9.519 664 39,410
10 YR FIXED BAL 2ND....... 30 1,199,471 0.16 9.920 642 39,982
10 YR FIXED 2ND........... 4 154,333 0.02 8.982 664 38,583
------- ------------ ------ ------ ---- -------
Total:.................... 15,480 $758,811,144 100.00% 9.456 662 $49,019
======= ============ ====== ====== ==== =======
WEIGHTED
AVERAGE
COMBO. PERCENT FULL PERCENT OWNER
AMORTIZATION TYPE ORIGINAL LTV DOC OCCUPIED
------------------------- ------------ --------- ---------
20 YR FIXED BAL 2ND....... 99.28% 98.10% 99.97%
15 YR FIXED BAL 2ND....... 99.21 98.54 99.97
20 YR FIXED 2ND........... 99.25 98.55 100.00
15 YR FIXED 2ND........... 99.05 96.64 100.00
10 YR FIXED BAL 2ND....... 99.88 100.00 100.00
10 YR FIXED 2ND........... 98.91 83.67 100.00
------ ------ ------
Total:.................... 99.26% 98.18% 99.98%
====== ====== ======
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THIS MATERIAL HAS BEEN PREPARED SPECIFICALLY FOR YOU BY THE FIXED INCOME SALES
AND TRADING DEPARTMENT AND IS NOT THE PRODUCT OF FIXED INCOME RESEARCH. THIS
MATERIAL CONTAINS INDICATIVE TERMS ONLY. ALL MATERIAL CONTAINED HEREIN,
INCLUDING PROPOSED TERMS AND CONDITIONS ARE FOR DISCUSSION PURPOSES ONLY.
FINALIZED TERMS AND CONDITIONS ARE SUBJECT TO FURTHER DISCUSSION AND
NEGOTIATION. THIS MATERIAL IS FOR YOUR PRIVATE INFORMATION AND WE ARE NOT
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EXPRESSED ARE OUR PRESENT OPINIONS ONLY, AND ANY INFORMATION OR INDICATIONS
CONTAINED IN THIS MATERIAL ARE CURRENT AS OF THE DATE APPEARING ON THIS MATERIAL
ONLY. THE MATERIAL IS BASED UPON INFORMATION WHICH WE CONSIDER RELIABLE BUT WE
DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE, AND IT SHOULD NOT BE RELIED
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APPLICABLE LAW, YOU MAY DISCLOSE ANY AND ALL ASPECTS OF THIS MATERIAL THAT ARE
NECESSARY TO SUPPORT ANY U.S. FEDERAL INCOME TAX BENEFITS, WITHOUT XXXXXXX XXXXX
IMPOSING ANY LIMITATION OF ANY KIND. THIS MATERIAL HAS BEEN ISSUED BY XXXXXXX,
XXXXX & CO. AND HAS BEEN APPROVED BY XXXXXXX XXXXX INTERNATIONAL, WHICH IS
REGULATED BY THE FINANCIAL SERVICES AUTHORITY, IN CONNECTION WITH ITS
DISTRIBUTION IN THE UNITED KINGDOM AND BY XXXXXXX XXXXX CANADA IN CONNECTION
WITH ITS DISTRIBUTION IN CANADA. FURTHER INFORMATION ON ANY OF THE SECURITIES,
FUTURES OR OPTIONS MENTIONED IN THIS MATERIAL MAY BE OBTAINED UPON REQUEST AND
FOR THIS PURPOSE PERSONS IN ITALY SHOULD CONTACT XXXXXXX XXXXX S.I.M.S.P.A. IN,
MILAN, OR AT ITS LONDON BRANCH OFFICE AT 000 XXXXX XXXXXX.
--------------------------------------------------------------------------------
