-6-
EXHIBIT 99.1
The mortgage loans delivered to the trust (the "Mortgage Loans") will
consist of conventional, one-to four- family, adjustable-rate and fixed-rate
mortgage loans with principal balances at origination that may or may not
conform to Xxxxxxx Mac or Xxxxxx Mae loan limits. The Depositor will purchase
the Mortgage Loans from the Seller pursuant to the Mortgage Loan Purchase
Agreement, dated March 4, 2004 (the "Mortgage Loan Purchase Agreement"), between
the Seller and the Depositor. Pursuant to the Pooling and Servicing Agreement,
dated March 1, 2004 (the "Pooling and Servicing Agreement"), among the
Depositor, the Master Servicer and the Trustee, the Depositor will cause the
Mortgage Loans to be assigned to the Trustee for the benefit of the
certificateholders.
The Mortgage Loans will be secured by mortgages or deeds of trust or
other similar security instruments creating first liens on residential
properties (the "Mortgaged Properties") consisting of attached, detached or
semi-detached one-to four-family dwelling units, individual condominium units or
individual units in planned unit developments and manufactured housing. The
Mortgage Loans will have original terms to maturity of not greater than 30 years
from the date on which the first payment was due on each Mortgage Loan.
Each adjustable-rate Mortgage Loan will accrue interest at the
adjustable-rate calculated as specified under the terms of the related mortgage
note and each fixed-rate Mortgage Loan will have a Mortgage Rate that is fixed
for the life of such Mortgage (each such rate, a "Mortgage Rate").
Approximately 95.36% and approximately 4.64% of the Mortgage Loans, by
aggregate scheduled principal balance as of the Closing Date, were originated by
the Seller's wholesale lending affiliates, Argent Mortgage Company, LLC
("Argent") and Olympus Mortgage Company ("Olympus" and together with Argent, the
"Originators"), respectively.
Each adjustable-rate Mortgage Loan will accrue interest at a Mortgage
Rate that is adjustable. The adjustable-rate Mortgage Loans will provide for
semi-annual adjustment to the Mortgage Rate thereon and for corresponding
adjustments to the monthly payment amount due thereon, in each case on each
adjustment date applicable thereto (each such date, an "Adjustment Date");
provided, that the first adjustment for approximately 63.55% of the
adjustable-rate Mortgage Loans will occur after an initial period of two years
after origination, and the first adjustment for approximately 36.45% of the
adjustable-rate Mortgage Loans will occur after an initial period of three years
after origination. On each Adjustment Date for each adjustable-rate Mortgage
Loan, the Mortgage Rate thereon will be adjusted (subject to rounding) to equal
the sum of the applicable Index (as defined below) and a fixed percentage amount
(the ("Gross Margin"). The Mortgage Rate on each adjustable-rate Mortgage Loan
will not decrease on the first related Adjustment Date, will not increase by
more than 2.000% per annum on the first related Adjustment Date (the ("Initial
Periodic Rate Cap") and will not increase or decrease by more than 1.000% per
annum on any Adjustment Date thereafter (the "Periodic Rate Cap"). Each Mortgage
Rate on each adjustable-rate Mortgage Loan will not exceed a specified maximum
Mortgage Rate over the life of such Mortgage Loan (the "Maximum Mortgage Rate")
or be less than a specified minimum Mortgage Rate over the life of such Mortgage
Loan (the "Minimum Mortgage Rate"). Effective with the first monthly payment due
on each adjustable-rate Mortgage Loan after each related Adjustment Date, the
monthly payment amount will be adjusted to an amount that will amortize fully
the outstanding principal balance of the related Mortgage Loan over its
remaining term, and pay interest at the Mortgage Rate as so adjusted. Due to the
application of the Periodic Rate Caps and the Maximum Mortgage Rates, the
Mortgage Rate on each such adjustable-rate Mortgage Loan, as adjusted on any
related Adjustment Date, may be less than the sum of the Index and the related
Gross Margin, rounded as described herein. None of the adjustable-rate Mortgage
Loans permits the related mortgagor to convert the adjustable Mortgage Rate
thereon to a fixed Mortgage Rate.
The Mortgage Loans will have scheduled monthly payments due on the
first day of the month (with respect to each Mortgage Loan, a "Due Date"). Each
Mortgage Loan will contain a customary "due-on-sale" clause which provides that
(subject to state and federal restrictions) the Mortgage Loan must be repaid at
the time of sale of the related Mortgaged Property or with the consent of the
holder of the mortgage note assumed by a creditworthy purchaser of the related
Mortgaged Property.
None of the Mortgage Loans will be Buydown Mortgage Loans.
Approximately 72.51% of the Mortgage Loans, by aggregate scheduled
principal balance as of the Closing Date, provide for payment by the mortgagor
of a prepayment charge on certain principal prepayments, subject to certain
limitations in the related mortgage note and limitations upon collection in the
Pooling and Servicing Agreement. Generally, each such Mortgage Loan provides for
payment of a prepayment charge on certain prepayments made within a
-7-
defined period set forth in the related Mortgage Note (generally within the
first three years but possibly as short as one year from the date of origination
of such Mortgage Loan). The amount of the prepayment charge is as provided in
the related Mortgage Note. The holders of the Class P Certificates will be
entitled to all prepayment charges received on the Mortgage Loans, and such
amounts will not be available for distribution on the other classes of
Certificates. Under certain instances, as described under the terms of the
Pooling and Servicing Agreement, the Master Servicer may waive the payment of
any otherwise applicable prepayment charge. Investors should conduct their own
analysis of the effect, if any, that the prepayment charges, and decisions by
the Master Servicer with respect to the waiver thereof, may have on the
prepayment performance of the Mortgage Loans. The Depositor makes no
representation as to the effect that the prepayment charges, and decisions by
the Master Servicer with respect to the waiver thereof, may have on the
prepayment performance of the Mortgage Loans.
MORTGAGE LOAN STATISTICS
The Mortgage Loans consist of 2,813 adjustable-rate and fixed-rate
Mortgage Loans having an aggregate principal balance as of the Cut-off Date of
approximately $500,000,018.50, after application of scheduled payments due on or
before the Cut-off Date whether or not received and application of all
unscheduled payments of principal received prior to the Closing Date. None of
the Mortgage Loans had a first Due Date prior to October 2003 or after March
2004, or will have a remaining term to stated maturity of less than 175 months
or greater than 359 months as of the Closing Date. The latest maturity date of
any Mortgage Loans is February 2034.
-8-
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COLLATERAL TYPE
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY DEBT-TO- COUPON OLTV
COLLATERAL TYPE LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) INCOME1(%) (%) FICO1 (%)
--------------- ----- ------------ ---------------- -------- ---------- --- ----- ---
2-yr Fixed / Adjustable-Rate.. 1,201 $ 207,796,935.08 41.56% 357 37.44 7.348 618 88.49
3-yr Fixed / Adjustable-Rate.. 655 119,196,934.18 23.84 357 38.65 7.189 608 84.84
Fixed Rate.................... 957 173,006,149.24 34.60 349 38.48 6.887 638 81.84
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
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PRINCIPAL BALANCES AT ORIGINATION
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PRINCIPAL REMAINING
RANGE OF NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
PRINCIPAL BALANCES MORTGAGE AS OF BALANCE AS OF MATURITY INCOME1 COUPON OLTV
AT ORIGINATION ($) LOANS ORIGINATION ORIGINATION (MONTHS)* (%)* (%)* FICO* (%)
-----------------------------------------------------------------------------------------------------------------------------------
50,000.01 - 100,000.00........ 717 $ 57,060,409.00 11.39% 350 35.27 7.825 606 82.89
100,000.01 - 150,000.00....... 689 85,552,673.00 17.07 353 36.95 7.425 607 84.65
150,000.01 - 200,000.00....... 491 85,346,287.00 17.03 354 38.59 7.241 619 86.93
200,000.01 - 250,000.00....... 348 77,883,117.00 15.54 354 38.97 7.005 621 84.51
250,000.01 - 300,000.00....... 190 52,036,310.00 10.38 355 37.92 6.985 631 86.99
300,000.01 - 350,000.00....... 156 50,726,568.00 10.12 356 40.16 6.971 626 86.91
350,000.01 - 400,000.00....... 110 41,323,749.00 8.25 357 39.22 6.678 640 86.03
400,000.01 - 450,000.00....... 58 24,482,816.00 4.89 357 39.82 6.703 655 86.46
450,000.01 - 500,000.00....... 49 23,710,765.00 4.73 357 37.35 6.795 637 82.18
500,000.01 - 550,000.00....... 1 548,000.00 0.11 357 44.00 5.600 637 80.00
550,000.01 - 600,000.00....... 2 1,152,000.00 0.23 358 24.50 7.643 592 75.30
600,000.01 - 650,000.00....... 1 642,000.00 0.13 358 34.00 6.000 694 76.43
650,000.01 - 700,000.00....... 1 656,000.00 0.13 357 31.00 5.900 701 68.98
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TOTAL: 2,813 $ 501,120,694.00 100.00% 354 38.09 7.150 622 85.32
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*Based on the original balances of the Mortgage Loans.
1 Non-zero weighted averages
-9-
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PRINCIPAL BALANCE AS OF THE CUT-OFF DATE
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PRINCIPAL REMAINING
RANGE OF PRINCIPAL NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
BALANCES AS OF THE CUT- MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
OFF DATE ($) LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
50,000.01 - 100,000.00........ 717 $ 56,935,982.50 11.39% 350 35.27 7.825 606 82.89
100,000.01 - 150,000.00....... 693 85,966,943.22 17.19 353 36.92 7.423 608 84.70
150,000.01 - 200,000.00....... 489 84,957,445.48 16.99 353 38.63 7.240 618 86.86
200,000.01 - 250,000.00....... 346 77,306,055.49 15.46 355 38.97 7.007 621 84.54
250,000.01 - 300,000.00....... 197 54,015,582.75 10.80 355 38.13 6.953 633 86.96
300,000.01 - 350,000.00....... 151 49,214,875.40 9.84 356 39.92 7.020 623 86.98
350,000.01 - 400,000.00....... 108 40,531,222.91 8.11 357 39.34 6.657 642 85.97
400,000.01 - 450,000.00....... 59 24,875,184.63 4.98 357 39.93 6.692 656 86.62
450,000.01 - 500,000.00....... 48 23,205,642.23 4.64 357 37.19 6.809 636 81.93
500,000.01 - 550,000.00....... 1 546,225.87 0.11 357 44.00 5.600 637 80.00
550,000.01 - 600,000.00....... 2 1,150,477.66 0.23 358 24.49 7.642 592 75.30
600,000.01 - 650,000.00....... 1 640,396.20 0.13 358 34.00 6.000 694 76.43
650,000.01 - 700,000.00....... 1 653,984.16 0.13 357 31.00 5.900 701 68.98
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
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REMAINING TERM TO MATURITY
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
RANGE OF MONTHS MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
REMAINING (MONTHS) LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
120-180............... 50 $ 6,471,521.97 1.29% 178 36.06 6.944 637 73.13
181-240............... 31 3,893,311.26 0.78 238 36.55 6.631 625 74.24
300-360............... 2,732 489,635,185.27 97.93 358 38.13 7.157 622 85.57
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
-10-
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MORTGAGE RATE
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
RANGE OF CURRENT MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
MORTGAGE RATES (%) LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
5.000 - 5.499.......... 33 $ 9,586,328.25 1.92% 353 40.35 5.342 668 78.23
5.500 - 5.999.......... 191 47,021,147.40 9.40 353 40.18 5.766 660 79.43
6.000 - 6.499.......... 317 70,830,494.53 14.17 353 39.13 6.238 645 83.70
6.500 - 6.999.......... 551 104,965,681.61 20.99 352 38.20 6.737 631 86.00
7.000 - 7.499.......... 542 93,513,124.58 18.70 354 37.49 7.215 619 87.30
7.500 - 7.999.......... 494 82,537,732.60 16.51 357 36.81 7.737 609 87.53
8.000 - 8.499.......... 328 47,672,203.15 9.53 355 37.50 8.209 591 87.03
8.500 - 8.999.......... 196 25,107,822.94 5.02 354 37.86 8.697 592 86.70
9.000 - 9.499.......... 86 10,184,651.61 2.04 354 38.14 9.192 574 84.24
9.500 - 9.999.......... 51 5,811,330.47 1.16 358 36.19 9.676 562 79.59
10.000 - 10.499........ 7 743,509.40 0.15 357 32.04 10.245 560 75.55
10.500 - 10.999........ 7 761,911.69 0.15 358 38.64 10.691 557 66.61
11.500 - 11.999........ 5 490,566.10 0.10 358 41.55 11.793 566 58.25
12.000 - 12.499........ 3 510,972.92 0.10 358 33.92 12.174 555 62.69
12.500 - 12.999........ 2 262,541.25 0.05 356 54.46 12.746 502 60.00
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
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ORIGINAL LOAN-TO-VALUE RATIOS
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PRINCIPAL REMAINING
RANGE OF ORIGINAL NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
LOAN-TO-VALUE RATIOS MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
(%) LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
25.00 or less.............. 3 $ 288,279.20 0.06% 317 34.96 6.589 604 21.46
25.01 - 30.00.............. 2 275,140.04 0.06 356 43.56 7.025 542 27.07
30.01 - 35.00.............. 3 537,927.40 0.11 357 33.99 6.044 618 33.03
35.01 - 40.00.............. 9 1,654,721.12 0.33 349 28.19 6.403 591 37.96
40.01 - 45.00.............. 11 1,547,697.11 0.31 263 30.32 6.489 672 42.91
45.01 - 50.00.............. 20 2,803,092.57 0.56 331 39.05 6.640 637 48.12
50.01 - 55.00.............. 23 4,075,972.21 0.82 355 42.27 6.918 602 52.46
55.01 - 60.00.............. 46 8,173,968.29 1.63 352 38.16 7.641 593 58.18
60.01 - 65.00.............. 72 11,356,860.60 2.27 352 37.84 7.081 598 63.20
65.01 - 70.00.............. 115 20,147,365.01 4.03 345 36.83 6.955 606 68.92
70.01 - 75.00.............. 173 28,806,002.37 5.76 351 37.98 6.943 608 74.01
75.01 - 80.00.............. 359 62,560,617.09 12.51 352 37.60 6.978 612 79.33
80.01 - 85.00.............. 366 64,860,539.40 12.97 357 38.47 7.131 608 84.20
85.01 - 90.00.............. 825 141,086,786.51 28.22 356 36.84 7.332 627 89.56
90.01 - 95.00.............. 786 151,825,049.58 30.37 356 39.57 7.141 637 94.68
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
-11-
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FICO SCORE AT ORIGINATION
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
RANGE OF FICO SCORES LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
500 - 519................... 88 $ 11,191,376.63 2.24% 357 40.42 8.224 510 75.51
520 - 539................... 141 19,987,814.14 4.00 356 38.51 7.973 530 75.90
540 - 559................... 233 37,337,800.83 7.47 356 39.46 7.777 551 81.95
560 - 579................... 249 38,611,810.88 7.72 355 39.05 7.773 569 80.95
580 - 599................... 337 56,226,141.42 11.25 353 38.78 7.463 589 85.86
600 - 619................... 440 80,050,344.17 16.01 353 38.85 7.042 609 87.57
620 - 639................... 457 84,132,165.18 16.83 355 38.48 6.963 629 86.86
640 - 659................... 322 60,422,653.43 12.08 355 37.04 6.901 649 87.80
660 - 679................... 202 37,945,020.80 7.59 354 36.27 6.925 668 87.42
680 - 699................... 145 29,968,316.56 5.99 351 37.42 6.549 689 86.68
700 - 719................... 76 15,769,105.51 3.15 354 36.33 6.674 707 86.81
720 - 739................... 52 11,528,593.10 2.31 357 36.81 6.563 729 83.91
740 - 759................... 44 9,961,733.56 1.99 357 35.19 6.535 748 85.86
760 - 779................... 21 5,467,898.11 1.09 348 33.27 6.250 768 82.33
780 - 799................... 5 1,329,770.36 0.27 326 35.94 5.761 789 74.06
800-819..................... 1 69,473.82 0.01 358 20.00 6.500 810 80.00
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
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DEBT-TO-INCOME RATIO
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
RANGE OF DEBT-TO- MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
INCOME RATIOS (%) LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
20.00 or less............ 211 $ 34,305,353.51 6.86% 353 13.70 7.258 642 83.90
20.01- 25.00............ 197 29,015,012.34 5.80 354 23.17 7.402 625 84.22
25.01- 30.00............ 286 45,267,410.44 9.05 354 28.13 7.326 620 84.67
30.01- 35.00............ 365 63,008,708.31 12.60 354 32.99 7.094 625 84.27
35.01- 40.00............ 469 82,632,162.80 16.53 353 38.20 7.062 624 84.77
40.01- 45.00............ 521 98,896,333.00 19.78 355 43.15 7.143 623 86.88
45.01- 50.00............ 712 137,274,483.33 27.45 356 48.12 7.112 616 87.19
50.01- 55.00............ 52 9,600,554.77 1.92 352 53.14 6.952 607 65.48
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
-12-
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GEOGRAPHIC DISTRIBUTION
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
STATE LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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California.................... 519 $ 134,050,841.73 26.81% 355 39.40 6.673 638 83.80
Florida....................... 372 52,354,815.83 10.47 354 38.63 7.201 620 86.35
New York...................... 175 48,309,979.27 9.66 354 38.54 6.937 626 81.74
Illinois...................... 253 44,039,836.21 8.81 356 38.15 7.482 615 86.30
Maryland...................... 99 18,392,745.14 3.68 349 39.11 7.263 606 85.32
Texas......................... 128 16,343,344.77 3.27 349 34.85 7.603 612 85.67
Arizona....................... 125 15,914,730.42 3.18 353 35.91 7.190 623 87.68
Michigan...................... 104 12,540,975.73 2.51 356 34.31 7.869 604 86.62
Colorado...................... 56 11,554,371.14 2.31 357 38.82 7.220 607 88.99
Ohio.......................... 107 11,296,828.47 2.26 355 35.15 7.665 598 87.52
Connecticut................... 58 10,281,409.28 2.06 355 36.18 7.220 611 86.87
Massachusetts................. 43 10,136,880.49 2.03 358 36.78 7.259 629 84.80
Minnesota..................... 53 9,694,854.49 1.94 357 38.59 7.035 631 87.41
Washington.................... 54 9,657,349.79 1.93 352 37.37 7.314 614 87.94
Nevada........................ 56 9,560,094.19 1.91 358 40.22 7.365 622 89.37
New Jersey.................... 44 8,674,934.99 1.73 356 39.89 7.209 612 82.85
Pennsylvania.................. 57 7,552,472.23 1.51 348 38.34 7.366 610 82.95
Georgia....................... 40 6,525,413.48 1.31 356 33.39 7.228 622 88.53
Utah.......................... 38 6,399,350.41 1.28 358 37.05 7.648 629 91.98
Rhode Island.................. 34 6,245,076.53 1.25 354 38.24 7.234 620 81.84
Other......................... 398 50,473,713.91 10.09 353 37.03 7.563 611 86.38
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
-13-
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OCCUPANCY STATUS
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
OCCUPATION STATUS* LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
Owner Occupied............. 2,423 $ 443,698,249.70 88.74% 354 39.08 7.092 618 85.31
Non-Owner Occupied......... 368 52,204,375.99 10.44 354 29.89 7.669 652 85.60
Second Home................ 22 4,097,392.81 0.82 355 35.54 6.886 667 82.56
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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*Based on mortgagor representation at origination.
1 Non-zero weighted averages
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DOCUMENTATION TYPE
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
INCOME DOCUMENTATION LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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Full Documentation......... 1,880 $ 315,574,483.05 63.11% 354 38.95 7.004 616 84.55
Stated Documentation....... 799 157,286,045.62 31.46 356 36.70 7.455 635 86.65
Limited Documentation...... 134 27,139,489.83 5.43 352 36.12 7.089 626 86.51
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
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LOAN PURPOSE
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
PURPOSE LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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Refinance-Debt
Consolidation Cash Out**... 1,827 $ 330,863,601.61 66.17% 353 38.83 7.058 616 83.49
Purchase................... 773 130,694,337.42 26.14 357 36.29 7.415 639 90.69
Refinance-Debt
Consolidation No Cash Out*** 213 38,442,079.47 7.69 352 37.86 7.047 623 82.76
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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** Cash proceeds to the borrower inclusive of debt consolidation
payments exceed 2% or $2000 of the original principal balance of the
related loan. Also includes all home equity loans originated in Texas
with any cash proceeds.
*** Cash proceeds to the borrower inclusive of debt consolidation
payments do not exceed 2% or $2000 of the original principal balance of
the related loan. Excludes home equity loans originated in Texas with
any cash proceeds.
1 Non-zero weighted averages
-14-
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CREDIT GRADE
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
RISK CATEGORY* LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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1.......................... 1,949 $ 352,683,991.53 70.54% 354 37.82 6.989 632 86.74
2.......................... 252 43,223,637.98 8.64 355 38.24 7.301 602 84.94
3.......................... 249 38,418,795.60 7.68 356 37.70 7.424 594 82.85
4.......................... 176 29,851,792.38 5.97 355 40.04 7.645 596 80.48
5.......................... 70 9,680,494.06 1.94 351 37.81 8.082 580 71.85
6.......................... 20 2,921,560.40 0.58 357 38.49 10.817 559 63.99
A.......................... 77 18,558,824.21 3.71 357 40.43 7.214 636 85.21
A-......................... 9 1,896,152.03 0.38 357 37.21 7.350 539 69.42
B.......................... 1 173,974.60 0.03 358 47.00 7.200 700 85.00
C.......................... 5 935,217.40 0.19 332 38.18 9.317 583 73.71
C-......................... 5 1,655,578.31 0.33 357 41.18 8.361 567 79.55
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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* Letters correspond to risk categories of Olympus Mortgage Company and
roman numerals correspond to risk categories of Argent Mortgage Company, LLC.
1 Non-zero weighted averages
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PROPERTY TYPE
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PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
PROPERTY TYPE LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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Single Family Detached..... 2,162 $ 379,030,087.38 75.81% 354 38.24 7.138 620 85.30
Two-to Four-Family......... 213 44,801,548.96 8.96 354 36.03 7.301 635 82.93
PUD Detached............... 207 41,486,566.80 8.30 353 38.75 7.001 629 86.34
Condominium ............... 155 25,080,836.88 5.02 357 38.25 7.258 627 88.60
Manufactured Housing....... 50 4,865,469.54 0.97 346 37.16 7.417 621 78.58
PUD Attached............... 23 4,382,432.47 0.88 350 39.47 7.184 633 89.58
Single Family Attached..... 3 353,076.47 0.07 358 48.72 8.015 600 90.00
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
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PREPAYMENT CHARGE TERM
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PRINCIPAL REMAINING
PREPAYMENT CHARGE NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
TERM AT ORIGINATION MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
(MOS.) LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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0.......................... 787 $ 137,473,954.31 27.49% 353 38.51 7.352 612 85.34
12......................... 165 40,498,944.68 8.10 353 37.77 7.076 633 81.43
24......................... 806 141,976,776.60 28.40 358 37.38 7.298 620 88.53
36......................... 1,055 180,050,342.91 36.01 353 38.40 6.898 629 83.64
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
-15-
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CONFORMING BALANCE
-----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL REMAINING
NUMBER OF BALANCE % OF PRINCIPAL TERM TO DEBT-TO- GROSS
MORTGAGE AS OF THE BALANCE AS OF MATURITY INCOME1 COUPON OLTV
CONFORMING BALANCE LOANS CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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Conforming................. 2,579 $ 405,311,171.37 81.06% 354 37.92 7.239 618 85.39
Non-Conforming............. 234 94,688,847.13 18.94 357 38.82 6.773 640 85.02
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TOTAL: 2,813 $ 500,000,018.50 100.00% 354 38.09 7.151 622 85.32
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1 Non-zero weighted averages
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MAXIMUM MORTGAGE RATES OF THE ADJUSTABLE-RATE LOANS
-----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL % OF PRINCIPAL
BALANCE BALANCE OF REMAINING
NUMBER OF OF ADJUSTABLE ADJUSTABLE RATE TERM TO DEBT-TO- GROSS
RANGE OF MAXIMUM MORTGAGE RATE LOANS AS OF LOANS AS OF THE MATURITY INCOME1 COUPON OLTV
MORTGAGE RATES (%) LOANS THE CUT-OFF DATE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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11.000 - 11.499........... 14 $ 4,097,811.23 1.25% 358 38.10 5.324 623 82.00
11.500 - 11.999........... 80 19,646,764.30 6.01 356 41.51 5.772 650 82.12
12.000 - 12.499........... 160 36,245,618.49 11.08 357 39.62 6.257 637 86.12
12.500 - 12.999........... 354 67,952,912.64 20.78 357 38.29 6.732 629 88.41
13.000 - 13.499........... 389 68,253,016.02 20.87 357 37.00 7.218 617 88.46
13.500 - 13.999........... 367 61,870,751.80 18.92 357 36.63 7.739 603 87.97
14.000 - 14.499........... 252 38,333,116.81 11.72 358 37.06 8.204 589 87.48
14.500 - 14.999........... 137 18,135,014.37 5.55 357 38.67 8.684 590 88.43
15.000 - 15.499........... 55 6,513,945.00 1.99 357 37.31 9.230 561 82.77
15.500 - 15.999........... 31 3,860,620.94 1.18 358 37.79 9.704 555 79.99
16.000 - 16.499........... 4 535,597.10 0.16 357 32.31 10.242 546 72.03
16.500 - 16.999........... 5 547,161.54 0.17 358 36.55 10.692 549 68.70
17.500 - 17.999........... 5 490,566.10 0.15 358 41.55 11.793 566 58.25
18.000 - 18.499........... 3 510,972.92 0.16 358 33.92 12.174 555 62.69
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TOTAL: 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
-----------------------------------------------------------------------------------------------------------------------------------
1 Non-zero weighted averages
-16-
-----------------------------------------------------------------------------------------------------------------------------------
MINIMUM MORTGAGE RATES OF THE ADJUSTABLE-RATE LOANS
-----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL % OF PRINCIPAL
BALANCE BALANCE OF REMAINING
NUMBER OF OF ADJUSTABLE ADJUSTABLE RATE TERM TO DEBT-TO- GROSS
RANGE OF MINIMUM MORTGAGE RATE LOANS AS OF LOANS AS OF THE MATURITY INCOME1 COUPON OLTV
MORTGAGE RATES (%) LOANS THE CUT-OFF DATE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
5.000 - 5.499............. 14 $ 4,097,811.23 1.25% 358 38.10 5.324 623 82.00
5.500 - 5.999............. 80 19,646,764.30 6.01 356 41.51 5.772 650 82.12
6.000 - 6.499............. 160 36,245,618.49 11.08 357 39.62 6.257 637 86.12
6.500 - 6.999............. 354 67,952,912.64 20.78 357 38.29 6.732 629 88.41
7.000 - 7.499............. 389 68,253,016.02 20.87 357 37.00 7.218 617 88.46
7.500 - 7.999............. 367 61,870,751.80 18.92 357 36.63 7.739 603 87.97
8.000 - 8.499............. 252 38,333,116.81 11.72 358 37.06 8.204 589 87.48
8.500 - 8.999............. 137 18,135,014.37 5.55 357 38.67 8.684 590 88.43
9.000 - 9.499............. 55 6,513,945.00 1.99 357 37.31 9.230 561 82.77
9.500 - 9.999............. 31 3,860,620.94 1.18 358 37.79 9.704 555 79.99
10.000 - 10.499........... 4 535,597.10 0.16 357 32.31 10.242 546 72.03
10.500 - 10.999........... 5 547,161.54 0.17 358 36.55 10.692 549 68.70
11.500 - 11.999........... 5 490,566.10 0.15 358 41.55 11.793 566 58.25
12.000 - 12.499........... 3 510,972.92 0.16 358 33.92 12.174 555 62.69
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TOTAL: 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
-----------------------------------------------------------------------------------------------------------------------------------
1 Non-zero weighted averages
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GROSS MARGINS OF THE ADJUSTABLE-RATE LOANS
-----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL % OF PRINCIPAL
BALANCE BALANCE OF REMAINING
NUMBER OF OF ADJUSTABLE ADJUSTABLE RATE TERM TO DEBT-TO- GROSS
RANGE OF GROSS MORTGAGE RATE LOANS AS OF LOANS AS OF THE MATURITY INCOME1 COUPON OLTV
MARGINS (%) LOANS THE CUT-OFF DATE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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4.500 - 4.749............. 733 $ 115,751,623.02 35.40% 357 37.21 7.421 610 86.92
4.750 - 4.999............. 1 148,010.16 0.05 355 36.00 8.150 601 90.00
5.000 - 5.249............. 1 314,624.78 0.10 358 37.00 8.600 573 90.00
5.500 - 5.749............. 71 17,483,408.51 5.35 357 40.22 7.403 618 84.72
6.000 - 6.249............. 4 631,097.39 0.19 357 25.07 7.853 573 80.43
6.250 - 6.499............. 6 1,072,061.26 0.33 357 34.43 7.957 647 88.09
6.500 - 6.749............. 1,038 191,228,854.59 58.48 357 38.14 7.189 617 87.54
7.000 - 7.249............. 2 364,189.55 0.11 358 39.26 8.741 599 84.23
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TOTAL: 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
-----------------------------------------------------------------------------------------------------------------------------------
1 Non-zero weighted averages
-17-
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NEXT ADJUSTMENT DATE OF THE ADJUSTABLE-RATE LOANS
-----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL % OF PRINCIPAL
BALANCE BALANCE OF REMAINING
NUMBER OF OF ADJUSTABLE ADJUSTABLE RATE TERM TO DEBT-TO- GROSS
MORTGAGE RATE LOANS AS OF LOANS AS OF THE MATURITY INCOME1 COUPON OLTV
NEXT ADJUSTMENT DATE LOANS THE CUT-OFF DATE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
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August 2005............... 1 $ 302,419.65 0.09% 354 27.00 7.900 571 89.94
September 2005............ 2 586,722.29 0.18 354 46.48 7.782 531 75.73
October 2005.............. 25 4,974,974.95 1.52 355 35.7 7.453 590 79.50
November 2005............. 77 12,870,386.04 3.94 356 38.46 7.416 614 86.24
December 2005............. 413 72,104,222.11 22.05 357 38.16 7.419 617 88.88
January 2006.............. 611 105,918,632.62 32.39 358 37.93 7.233 622 89.23
February 2006............. 72 11,039,577.42 3.38 359 27.54 7.828 603 86.19
September 2006............ 1 336,047.45 0.10 354 17.00 7.750 658 90.00
October 2006.............. 5 1,184,704.47 0.36 355 35.73 7.354 554 76.27
November 2006............. 47 9,881,388.10 3.02 356 38.64 7.358 605 80.95
December 2006............. 215 40,745,478.63 12.46 356 39.48 7.188 603 84.27
January 2007.............. 346 61,689,034.69 18.87 357 38.48 7.110 613 86.06
February 2007............. 41 5,360,280.84 1.64 359 36.19 7.714 594 83.77
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TOTAL: 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
-----------------------------------------------------------------------------------------------------------------------------------
1 Non-zero weighted averages
-----------------------------------------------------------------------------------------------------------------------------------
INITIAL PERIODIC CAP OF THE ADJUSTABLE-RATE LOANS
-----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL % OF PRINCIPAL
BALANCE BALANCE OF REMAINING
NUMBER OF OF ADJUSTABLE ADJUSTABLE RATE TERM TO DEBT-TO- GROSS
INITIAL PERIODIC MORTGAGE RATE LOANS AS OF LOANS AS OF THE MATURITY INCOME1 COUPON OLTV
CAP (%) LOANS THE CUT-OFF DATE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
2.000..................... 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL: 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
-----------------------------------------------------------------------------------------------------------------------------------
1 Non-zero weighted averages
-----------------------------------------------------------------------------------------------------------------------------------
PERIODIC CAP OF THE ADJUSTABLE-RATE LOANS
-----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL % OF PRINCIPAL
BALANCE BALANCE OF REMAINING
NUMBER OF OF ADJUSTABLE ADJUSTABLE RATE TERM TO DEBT-TO- GROSS
PERIODIC MORTGAGE RATE LOANS AS OF LOANS AS OF THE MATURITY INCOME1 COUPON OLTV
CAP (%) LOANS THE CUT-OFF DATE CUT-OFF DATE (MONTHS) (%) (%) FICO (%)
-----------------------------------------------------------------------------------------------------------------------------------
1.000...................... 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
-----------------------------------------------------------------------------------------------------------------------------------
TOTAL: 1,856 $ 326,993,869.26 100.00% 357 37.88 7.290 614 87.16
1 Non-zero weighted averages
