8-K 1 efc5-0254_5644073form8k.txt ------------------------------------------------------------------------------ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest Event Reported) December 30, 2004 CWABS, INC. (as depositor under the Sale and Servicing Agreement, dated as of December 30, 2004, relating to the Revolving Home Equity Loan Asset Backed Notes, Series 2004-U). CWABS, INC. ----------- (Exact name of registrant as specified in its charter) Delaware 333-118926 95-4596514 ---------------------------- ------------ ----------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 4500 Park Granada Calabasas, California 91302 ------------------------ -------- (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code (818) 225-3240 ------------------------------------------------------------------------------ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 8. ---------- Item 8.01. Other Events. ---- ------------ Description of the Notes and the Mortgage Pool* ---------------------------------------------- On December 30, 2004, CWABS, Inc. (the "Company") entered into a Sale and Servicing Agreement dated as of December 30, 2004 (the "Sale and Servicing Agreement"), by and among the Company, as depositor, Countrywide Home Loans, Inc. ("CHL"), as sponsor and as master servicer, CWABS Revolving Home Equity Loan Trust, Series 2004-U (the "Trust") and JPMorgan Chase Bank, N.A., as indenture trustee (the "Indenture Trustee"), relating to the Revolving Home Equity Loan Asset Backed Notes, Series 2004-U (the "Notes"). The Sale and Servicing Agreement is annexed hereto as Exhibit 99.1. The Company and CHL entered into a Purchase Agreement, dated as of December 30, 2004 (the "Mortgage Loan Purchase Agreement"), providing for the purchase and sale of the Mortgage Loans to be delivered pursuant to the Sale and Servicing Agreement. The Mortgage Loan Purchase Agreement is annexed hereto as Exhibit 99.2. The Trust and the Indenture Trustee entered into an Indenture, dated as of December 30, 2004 (the "Indenture"), providing for the issuance of the Notes. The Indenture is annexed hereto as Exhibit 99.3. In addition to the above agreements, Financial Guaranty Insurance Company issued a Surety Bond, dated December 30, 2004 (the "Surety Bond"), providing for the guarantee of certain payments with respect to the Notes upon certain conditions. The Surety Bond is annexed hereto as Exhibit 99.4. Wilmington Trust Company, as owner trustee (the "Owner Trustee") and the Company entered into a Trust Agreement, dated as of December 27, 2004 (the "Trust Agreement"), providing for the creation of the Trust. The Trust Agreement is annexed hereto as Exhibit 99.5. -------- * Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Prospectus dated October 25, 2004 and the Prospectus Supplement dated December 28, 2004, of CWABS, Inc., relating to its Revolving Home Equity Loan Asset Backed Notes, Series 2004-U (the "Prospectus"). Section 9. ---------- Item 9.01. Financial Statements, Pro Forma Financial ---- ----------------------------------------- Information And Exhibits. ------------------------- (a) Not applicable. (b) Not applicable. (c) Exhibits: 99.1 The Sale and Servicing Agreement, dated as of December 30, 2004, by and among the Company, CHL, the Trust and the Indenture Trustee. 99.2 The Purchase Agreement, dated as of December 30, 2004, by and between the Company and CHL. 99.3 The Indenture, dated as of December 30, 2004, by and between the Trust and the Indenture Trustee. 99.4 The Note Guaranty Surety Bond, dated as of December 30, 2004, issued by Financial Guaranty Insurance Company. 99.5 The Trust Agreement, dated as of December 27, 2004, by and among Wilmington Trust Company, as owner trustee (the "Owner Trustee") and the Company. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CWABS, INC. By: /s/ Leon Daniels, Jr. --------------------- Leon Daniels, Jr. Vice President Dated: January 27, 2005 3 EXHIBIT INDEX ------------- Exhibit Description ------- ----------- 99.1 The Sale and Servicing Agreement, dated as of December 30, 2004, by and among the Company, CHL, the Trust and the Indenture Trustee. 99.2 The Purchase Agreement, dated as of December 30, 2004, by and between the Company and CHL. 99.3 The Indenture, dated as of December 30, 2004, by and between the Trust and the Indenture Trustee. 99.4 The Note Guaranty Surety Bond, dated as of December 30, 2004, issued by Financial Guaranty Insurance Company. 99.5 The Trust Agreement, dated as of December 27, 2004, by and among Wilmington Trust Company, as owner trustee (the "Owner Trustee") and the Company. 4

Delaware 333-118926 95-4596514 ------------------------------ ------------- --------------------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 4500 Park Granada Calabasas, California 91302 ------------------------------ ------------- (Address of Principal (Zip Code) Executive Offices)

Loan Group 1 Principal Balances for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Average Principal of Principal Current Gross Remaining Credit Combined Range of Principal Balance Mortgage Balance Principal Mortgage Term Bureau Loan-to- Balances ($) Outstanding Loans Outstanding Balance Rate (months) Risk Score Value Ratio ----------------------------- -------------- --------- ------------- ----------- --------- ---------- ---------- ----------- 0.01 - 10,000.00...... $ 790,145 131 0.33% $ 6,032 4.921% 299.00 711 65.8% 10,000.01 - 20,000.00...... 7,453,561 401 3.09 18,587 5.004 299.91 707 82.1 20,000.01 - 30,000.00...... 52,333,029 2,048 21.69 25,553 5.296 299.95 712 89.6 30,000.01 - 40,000.00...... 49,963,049 1,433 20.70 34,866 5.457 299.89 712 90.3 40,000.01 - 50,000.00...... 40,766,718 895 16.89 45,549 5.450 299.87 715 89.3 50,000.01 - 60,000.00...... 27,496,703 501 11.39 54,884 5.779 299.86 714 90.5 60,000.01 - 70,000.00...... 18,616,606 288 7.71 64,641 5.874 299.97 709 89.7 70,000.01 - 80,000.00...... 9,325,230 123 3.86 75,815 5.354 299.03 711 82.2 80,000.01 - 90,000.00...... 7,116,448 84 2.95 84,720 5.253 299.93 690 86.8 90,000.01 - 100,000.00...... 12,188,668 125 5.05 97,509 5.237 299.97 703 76.2 100,000.01 - 125,000.00...... 6,890,178 61 2.86 112,954 5.773 299.66 703 87.5 125,000.01 - 150,000.00...... 7,909,214 57 3.28 138,758 5.738 300.00 716 88.1 150,000.01 - 175,000.00...... 475,313 3 0.20 158,438 6.785 300.00 735 81.3 -------------- --------- ------------- Total $ 241,324,861 6,150 100.00% ============== ========= =============

Loan Programs for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Average Principal of Principal Current Gross Remaining Credit Combined Descriptin of Loan Balance Mortgage Balance Principal Mortgage Term Bureau Loan-to- Programs Outstanding Loans Outstanding Balance Rate (months) Risk Score Value Ratio ----------------------------- -------------- --------- ------------- ----------- --------- ---------- ---------- ----------- 10 Year Draw, 20 Year Repay.. $ 55,000 2 0.02% $ 27,500 6.670% 348.82 732 98.4% 5 Year Draw, 10 Year Repay... 47,000 1 0.02 $47,000 8.325 179.00 678 100.0 10 Year Draw, 15 Year Repay.. 241,030,811 6,143 99.88 $39,237 5.474 299.92 711 88.3 15 Year Draw, 0 Year Repay... 71,400 1 0.03 $71,400 3.750 179.00 756 100.0 15 Year Draw, 10 Year Repay.. 120,651 3 0.05 $40,217 4.919 299.31 717 97.1 -------------- --------- ------------- Total $ 241,324,861 6,150 100.00% ============== ========= =============

Loan Rates for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Aggregate Average Average Average Average Principal Number of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Risk Range of Loan Rates (%) Outstanding Loans Outstanding Balance Rate (months) Score ----------------------------- ------------- --------- ------------- ------------ ---------- ----------- ------------ Less than or equal to 3.000.. $ 78,264 2 0.03% $ 39,132 3.000% 300.00 639 3.001 - 3.500.............. 784,089 24 0.32 32,670 3.457 299.57 705 3.501 - 4.000.............. 91,617,172 2,377 37.96 38,543 3.948 299.89 704 4.001 - 4.500.............. 2,084,896 47 0.86 44,359 4.439 300.00 734 4.501 - 5.000.............. 52,793,308 1,495 21.88 35,313 4.945 299.98 719 5.001 - 5.500.............. 15,253,047 356 6.32 42,846 5.305 299.78 717 5.501 - 6.000.............. 8,947,036 166 3.71 53,898 5.840 299.95 706 6.001 - 6.500.............. 6,880,862 129 2.85 53,340 6.331 299.85 711 6.501 - 7.000.............. 8,136,876 193 3.37 42,160 6.812 300.17 703 7.001 - 7.500.............. 13,569,986 352 5.62 38,551 7.333 299.69 727 7.501 - 8.000.............. 9,536,569 258 3.95 36,963 7.791 299.95 699 8.001 - 8.500.............. 15,468,287 364 6.41 42,495 8.425 299.61 724 8.501 - 9.000.............. 7,164,525 176 2.97 40,708 8.788 299.20 720 9.001 - 9.500.............. 6,148,184 145 2.55 42,401 9.368 299.98 698 9.501 - 10.000.............. 1,637,223 38 0.68 43,085 9.805 300.00 692 10.001 - 10.500.............. 605,008 13 0.25 46,539 10.292 300.00 683 10.501 - 11.000.............. 476,483 12 0.20 39,707 10.801 300.00 673 11.001 - 11.500.............. 113,646 2 0.05 56,823 11.500 300.00 688 11.501 - 12.000.............. 29,400 1 0.01 29,400 12.000 300.00 697 ------------- --------- ------------- Total $ 241,324,861 6,150 100.00% ============= ========= ============= Weighted Average Combined Loan-to-Value Range of Loan Rates (%) Ratio ----------------------------- -------------- Less than or equal to 3.000.. 83.8% 3.001 - 3.500.............. 96.7 3.501 - 4.000.............. 85.1 4.001 - 4.500.............. 95.7 4.501 - 5.000.............. 92.0 5.001 - 5.500.............. 83.7 5.501 - 6.000.............. 75.7 6.001 - 6.500.............. 89.1 6.501 - 7.000.............. 83.9 7.001 - 7.500.............. 90.2 7.501 - 8.000.............. 89.9 8.001 - 8.500.............. 97.7 8.501 - 9.000.............. 95.6 9.001 - 9.500.............. 94.9 9.501 - 10.000.............. 95.5 10.001 - 10.500.............. 95.7 10.501 - 11.000.............. 94.1 11.001 - 11.500.............. 95.0 11.501 - 12.000.............. 90.0 Total

Months Remaining to Scheduled Maturity for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Range of Months Remaining to Balance Mortgage Balance Principal Mortgage Term Bureau Scheduled Maturity Outstanding Loans Outstanding Balance Rate (months) Risk Score ---------------------------- --------------- ---------- -------------- ------------ ----------- ---------- ------------ 169 - 180................... $ 118,400 2 0.05% $ 59,200 5.566% 179.00 725 229 - 240................... 83,243 2 0.03 41,622 8.750 240.00 706 265 - 276................... 55,494 2 0.02 27,747 7.983 271.00 736 277 - 288................... 291,793 11 0.12 26,527 5.937 284.40 754 289 - 300................... 240,720,931 6,131 99.75 39,263 5.471 299.96 711 337 - 348................... 5,000 1 (1) 5,000 5.875 347.00 787 349 - 360................... 50,000 1 0.02 50,000 6.750 349.00 726 --------------- ---------- -------------- Total $ 241,324,861 6,150 100.00% =============== ========== ============== Weighted Average Combined Range of Months Remaining to Loan-to-Value Scheduled Maturity Ratio ---------------------------- -------------- 169 - 180................... 100.0% 229 - 240................... 100.0 265 - 276................... 91.1 277 - 288................... 80.9 289 - 300................... 88.3 337 - 348................... 82.7 349 - 360................... 100.0 Total

Combined Loan-to-Value Ratios for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Range of Combined Balance Mortgage Balance Principal Mortgage Term Bureau Loan-to-Value Ratio (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------ -------------- -------- ----------- ------------- ---------- ----------- ------------- 0.01 - 10.00................. $ 5,000 1 (1) $ 5,000 3.990% 300.00 779 20.01 - 30.00................. 387,277 14 0.16% 27,663 4.449 299.81 728 30.01 - 40.00................. 1,548,057 41 0.64 37,757 4.467 299.91 720 40.01 - 50.00................. 3,501,129 88 1.45 39,786 4.917 299.83 712 50.01 - 60.00................. 6,991,808 172 2.90 40,650 4.882 299.94 721 60.01 - 70.00................. 18,486,069 441 7.66 41,919 4.773 299.91 705 70.01 - 80.00................. 29,724,548 693 12.32 42,893 4.851 299.88 703 80.01 - 90.00................. 66,218,353 1,893 27.44 34,981 5.719 299.94 706 90.01 - 100.00................ 114,462,620 2,807 47.43 40,778 5.677 299.81 717 -------------- -------- ----------- Total $ 241,324,861 6,150 100.00% ============== ======== =========== Weighted Average Combined Range of Combined Loan-to-Value Loan-to-Value Ratio (%) Ratio ------------------------------ -------------- 0.01 - 10.00................. 8.7% 20.01 - 30.00................. 26.2 30.01 - 40.00................. 36.0 40.01 - 50.00................. 45.8 50.01 - 60.00................. 55.7 60.01 - 70.00................. 66.8 70.01 - 80.00................. 77.8 80.01 - 90.00................. 88.9 90.01 - 100.00................ 98.4 Total

The geographic location used for the following table is determined by the address of the mortgaged property securing the related mortgage loan. Geographic Distribution for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau State Outstanding Loans Outstanding Balance Rate (months) Risk Score ----------------------------- --------------- --------- ------------- ------------ ----------- ----------- ------------ Alabama.................... $ 3,256,764 85 1.35% $ 38,315 4.780% 300.00 716 Arizona.................... 11,256,065 302 4.66 37,272 5.537 299.63 716 Arkansas................... 684,670 15 0.28 45,645 4.955 300.00 711 California................. 45,401,844 1,115 18.81 40,719 5.711 299.72 709 Colorado................... 10,739,335 278 4.45 38,631 5.530 299.97 716 Connecticut................ 3,342,577 84 1.39 39,793 5.084 300.00 705 Delaware................... 599,174 14 0.25 42,798 4.516 300.00 714 District of Columbia....... 394,980 11 0.16 35,907 5.498 298.76 732 Florida.................... 20,017,647 521 8.29 38,422 5.876 299.97 709 Georgia.................... 6,472,721 183 2.68 35,370 5.399 299.09 712 Hawaii..................... 3,539,429 60 1.47 58,990 5.234 300.67 713 Idaho...................... 1,761,250 50 0.73 35,225 5.352 300.00 713 Illinois................... 9,193,212 240 3.81 38,305 5.425 300.00 714 Indiana.................... 2,863,437 77 1.19 37,187 4.948 299.98 710 Iowa....................... 1,033,959 29 0.43 35,654 5.245 300.00 698 Kansas..................... 1,584,939 48 0.66 33,020 5.204 300.00 712 Kentucky................... 1,958,787 60 0.81 32,646 4.736 299.99 720 Louisiana.................. 1,234,249 33 0.51 37,401 4.963 300.00 712 Maine...................... 649,604 17 0.27 38,212 5.104 299.92 697 Maryland................... 4,254,097 108 1.76 39,390 5.405 299.83 705 Massachusetts.............. 7,197,521 175 2.98 41,129 5.327 300.00 714 Michigan................... 6,581,907 186 2.73 35,387 4.974 300.00 707 Minnesota.................. 3,598,551 106 1.49 33,949 5.331 299.86 724 Mississippi................ 881,819 25 0.37 35,273 4.842 300.00 706 Missouri................... 4,163,250 108 1.73 38,549 4.956 299.97 708 Montana.................... 972,807 29 0.40 33,545 5.082 299.64 712 Nebraska................... 327,290 8 0.14 40,911 4.749 300.00 714 Nevada..................... 10,334,905 245 4.28 42,183 6.153 299.70 710 New Hampshire.............. 2,042,381 49 0.85 41,681 6.078 299.96 712 New Jersey................. 11,723,006 245 4.86 47,849 5.986 299.90 708 New Mexico................. 1,288,365 35 0.53 36,810 5.055 299.90 721 New York................... 7,788,391 174 3.23 44,761 5.151 299.95 712 North Carolina............. 4,165,857 123 1.73 33,869 5.099 299.92 710 North Dakota............... 134,550 4 0.06 33,638 4.142 300.00 720 Ohio....................... 5,757,401 158 2.39 36,439 5.219 300.00 707 Oklahoma................... 1,423,551 34 0.59 41,869 4.865 300.00 707 Oregon..................... 4,794,025 128 1.99 37,453 5.218 300.00 709 Pennsylvania............... 5,203,528 140 2.16 37,168 5.047 299.98 713 Rhode Island............... 1,497,904 33 0.62 45,391 5.625 298.62 716 South Carolina............. 1,714,976 50 0.71 34,300 5.338 300.00 707 South Dakota............... 164,180 5 0.07 32,836 4.138 300.00 708 Tennessee.................. 3,242,915 87 1.34 37,275 4.961 300.00 708 Texas...................... 1,621,941 47 0.67 34,509 5.606 300.00 707 Utah....................... 2,991,891 86 1.24 34,789 5.376 300.00 712 Vermont.................... 152,994 5 0.06 30,599 4.147 300.00 715 Virginia................... 7,257,393 172 3.01 42,194 5.311 299.92 710 Washington................. 9,486,011 243 3.93 39,037 5.570 299.97 719 West Virginia.............. 483,594 15 0.20 32,240 4.293 300.00 691 Wisconsin.................. 3,691,413 92 1.53 40,124 5.193 299.97 710 Wyoming.................... 401,807 13 0.17 30,908 4.606 300.00 700 --------------- --------- ------------- Total $ 241,324,861 6,150 100.00% =============== ========= ============= Weighted Average Combined Loan-to-Value State Ratio ----------------------------- --------------- Alabama.................... 94.5% Arizona.................... 93.0 Arkansas................... 88.8 California................. 81.1 Colorado................... 92.5 Connecticut................ 84.8 Delaware................... 83.5 District of Columbia....... 83.5 Florida.................... 89.2 Georgia.................... 94.2 Hawaii..................... 78.7 Idaho...................... 93.0 Illinois................... 89.5 Indiana.................... 94.9 Iowa....................... 92.7 Kansas..................... 94.7 Kentucky................... 93.8 Louisiana.................. 92.6 Maine...................... 81.8 Maryland................... 86.5 Massachusetts.............. 83.0 Michigan................... 91.6 Minnesota.................. 88.6 Mississippi................ 96.6 Missouri................... 93.7 Montana.................... 86.5 Nebraska................... 97.8 Nevada..................... 86.2 New Hampshire.............. 92.1 New Jersey................. 88.1 New Mexico................. 92.2 New York................... 83.8 North Carolina............. 92.9 North Dakota............... 99.1 Ohio....................... 94.4 Oklahoma................... 97.1 Oregon..................... 89.0 Pennsylvania............... 89.4 Rhode Island............... 89.2 South Carolina............. 92.1 South Dakota............... 90.0 Tennessee.................. 92.1 Texas...................... 89.0 Utah....................... 93.5 Vermont.................... 93.5 Virginia................... 88.9 Washington................. 92.6 West Virginia.............. 92.6 Wisconsin.................. 91.6 Wyoming.................... 92.2 Total

Credit Scores for the Mortgage Loans for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Range of Credit Scores Outstanding Loans Outstanding Balance Rate (months) Risk Score -------------------------------- ---------------- ---------- ------------- ----------- ----------- ----------- ------------ 821 - 840...................... $ 332,206 11 0.14% $ 30,201 4.660% 299.82 827 801 - 820...................... 3,843,282 103 1.59 37,313 5.164 299.93 808 781 - 800...................... 11,521,112 296 4.77 38,923 5.439 299.78 789 761 - 780...................... 20,928,821 542 8.67 38,614 5.443 299.95 770 741 - 760...................... 28,052,628 724 11.62 38,747 5.547 299.61 750 721 - 740...................... 33,655,338 882 13.95 38,158 5.658 299.92 730 701 - 720...................... 41,316,590 1,041 17.12 39,689 5.567 299.94 710 681 - 700...................... 35,981,896 899 14.91 40,024 5.554 299.94 691 661 - 680...................... 35,738,130 901 14.81 39,665 5.476 299.77 671 641 - 660...................... 17,727,373 438 7.35 40,473 5.156 299.97 652 621 - 640...................... 11,191,192 286 4.64 39,130 4.873 299.94 631 601 - 620...................... 926,036 25 0.38 37,041 5.141 300.00 616 581 - 600...................... 21,157 1 0.01 21,157 10.000 300.00 598 560 or less.................... 89,100 1 0.04 89,100 5.250 300.00 521 ---------------- ---------- ------------- Total $ 241,324,861 6,150 100.00% ================ ========== ============= Weighted Average Combined Loan-to-Value Range of Credit Scores Ratio -------------------------------- ------------- 821 - 840...................... 71.3% 801 - 820...................... 85.8 781 - 800...................... 87.4 761 - 780...................... 88.2 741 - 760...................... 89.3 721 - 740...................... 90.2 701 - 720...................... 89.0 681 - 700...................... 88.7 661 - 680...................... 88.5 641 - 660...................... 85.7 621 - 640...................... 83.3 601 - 620...................... 79.3 581 - 600...................... 90.0 560 or less.................... 100.0 Total

Property Type for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Property Type Outstanding Loans Outstanding Balance Rate (months) Risk Score --------------------------------- --------------- --------- ------------- ----------- ----------- ----------- ------------ Single Family................... $ 163,610,923 4,181 67.80% $ 39,132 5.294% 299.94 708 Planned Unit Development (PUD).. 44,572,800 1,144 18.47 38,962 5.601 299.74 715 Low Rise Condominium............ 22,228,019 601 9.21 36,985 5.907 299.57 720 2-4 Units....................... 9,106,980 178 3.77 51,163 6.844 299.98 713 High Rise Condominuim........... 1,806,139 46 0.75 39,264 6.370 300.00 726 --------------- --------- ------------- Total $ 241,324,861 6,150 100.00% =============== ========= ============= Weighted Average Combined Loan-to-Value Property Type Ratio --------------------------------- ----------------- Single Family................... 87.4% Planned Unit Development (PUD).. 91.0 Low Rise Condominium............ 90.5 2-4 Units....................... 87.3 High Rise Condominuim........... 86.3 Total

Gross Margins for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Range of Gross Margins (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score -------------------------------- ---------------- ---------- ------------- ----------- ----------- ----------- ------------ Less than or equal to 0.000.... $ 20,381,636 450 8.45% $ 45,293 4.351% 299.94 739 0.001 - 0.250.................. 5,655,451 145 2.34 39,003 4.250 300.00 691 0.251 - 0.500.................. 20,112,984 461 8.33 43,629 4.400 299.83 714 0.501 - 0.750.................. 4,191,298 77 1.74 54,432 5.257 299.99 696 0.751 - 1.000.................. 8,642,274 184 3.58 46,969 5.411 299.93 720 1.001 - 1.250.................. 9,682,101 228 4.01 42,465 4.687 299.94 672 1.251 - 1.500.................. 6,942,236 154 2.88 45,079 4.994 299.89 715 1.501 - 1.750.................. 5,849,495 150 2.42 38,997 5.723 300.37 701 1.751 - 2.000.................. 22,063,018 646 9.14 34,153 4.944 299.93 731 2.001 - 2.250.................. 16,224,982 445 6.72 36,461 5.250 299.92 701 2.251 - 2.500.................. 40,263,073 1,119 16.68 35,981 5.284 299.92 735 2.501 - 2.750.................. 10,114,228 265 4.19 38,167 6.738 299.99 703 2.751 - 3.000.................. 11,772,569 316 4.88 37,255 5.024 299.95 676 3.001 - 3.250.................. 3,302,018 81 1.37 40,766 5.836 299.97 693 3.251 - 3.500.................. 34,252,677 885 14.19 38,704 6.267 299.99 700 3.501 - 3.750.................. 4,070,831 110 1.69 37,008 7.233 296.30 716 3.751 - 4.000.................. 3,482,319 82 1.44 42,467 7.829 298.54 705 4.001 - 4.250.................. 4,217,186 111 1.75 37,993 7.363 300.00 697 4.251 - 4.500.................. 5,616,373 124 2.33 45,293 8.495 299.97 682 4.501 - 4.750.................. 1,206,979 35 0.50 34,485 6.835 300.00 681 4.751 - 5.000.................. 696,183 18 0.29 38,677 7.028 300.00 676 5.001 - 5.250.................. 951,501 18 0.39 52,861 9.327 300.00 678 5.251 - 5.500.................. 880,950 27 0.37 32,628 4.829 300.00 662 5.501 - 5.750.................. 248,997 8 0.10 31,125 10.537 300.00 681 5.751 - 6.000.................. 188,572 3 0.08 62,857 10.033 299.75 660 6.001 - 6.250.................. 79,383 2 0.03 39,692 10.905 300.00 683 6.251 - 6.500.................. 61,646 1 0.03 61,646 11.500 300.00 690 6.501 - 6.750.................. 120,000 3 0.05 40,000 6.435 299.72 720 6.751 - 7.000.................. 29,400 1 0.01 29,400 12.000 300.00 697 7.251 - 7.500.................. 24,500 1 0.01 24,500 9.250 300.00 690 ---------------- ---------- ------------- Total $ 241,324,861 6,150 100.00% ================ ========== ============= Weighted Average Combined Loan-to-Value Range of Gross Margins (%) Ratio -------------------------------- -------------- Less than or equal to 0.000.... 72.9% 0.001 - 0.250.................. 63.7 0.251 - 0.500.................. 77.0 0.501 - 0.750.................. 73.5 0.751 - 1.000.................. 82.7 1.001 - 1.250.................. 77.9 1.251 - 1.500.................. 92.3 1.501 - 1.750.................. 81.2 1.751 - 2.000.................. 89.2 2.001 - 2.250.................. 88.7 2.251 - 2.500.................. 96.1 2.501 - 2.750.................. 90.4 2.751 - 3.000.................. 91.1 3.001 - 3.250.................. 94.4 3.251 - 3.500.................. 98.3 3.501 - 3.750.................. 94.4 3.751 - 4.000.................. 95.0 4.001 - 4.250.................. 94.0 4.251 - 4.500.................. 96.2 4.501 - 4.750.................. 96.7 4.751 - 5.000.................. 94.7 5.001 - 5.250.................. 96.7 5.251 - 5.500.................. 97.8 5.501 - 5.750.................. 94.2 5.751 - 6.000.................. 95.1 6.001 - 6.250.................. 94.7 6.251 - 6.500.................. 95.0 6.501 - 6.750.................. 92.4 6.751 - 7.000.................. 90.0 7.251 - 7.500.................. 90.0 Total

Credit Limit Utilization Rates for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Range of Credit Balance Mortgage Balance Principal Mortgage Term Bureau Limit Utilization Rates (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score -------------------------------- --------------- ---------- ------------ ------------ ----------- ----------- ------------- 0.01 - 10.00.................. $ 142,624 38 0.06% $ 3,753 5.499% 300.53 727 10.01 - 20.00.................. 564,122 56 0.23 10,074 4.803 299.38 713 20.01 - 30.00.................. 1,128,277 66 0.47 17,095 4.715 299.59 718 30.01 - 40.00.................. 2,050,552 87 0.85 23,570 4.867 299.71 710 40.01 - 50.00.................. 3,343,537 117 1.39 28,577 4.796 299.75 713 50.01 - 60.00.................. 4,326,485 129 1.79 33,539 4.713 299.90 723 60.01 - 70.00.................. 5,937,321 169 2.46 35,132 4.477 299.96 720 70.01 - 80.00.................. 8,041,420 210 3.33 38,292 4.742 299.78 706 80.01 - 90.00.................. 8,066,858 197 3.34 40,949 4.459 299.97 705 90.01 - 100.00................. 207,723,663 5,081 86.08 40,882 5.609 299.87 711 --------------- ---------- ------------ Total $ 241,324,861 6,150 100.00% =============== ========== ============ Weighted Average Combined Range of Credit Loan-to-Value Limit Utilization Rates (%) Ratio -------------------------------- -------------- 0.01 - 10.00.................. 61.5% 10.01 - 20.00.................. 67.8 20.01 - 30.00.................. 70.1 30.01 - 40.00.................. 68.2 40.01 - 50.00.................. 73.0 50.01 - 60.00.................. 76.8 60.01 - 70.00.................. 76.4 70.01 - 80.00.................. 77.9 80.01 - 90.00.................. 83.7 90.01 - 100.00................. 90.1 Total

Maximum Loan Rates for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Maximum Loan Rates (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------ ---------------- ---------- ------------- ------------ ----------- ----------- ------------ 11.949...................... $ 8,091,139 86 3.35% $ 94,083 5.586% 300.00 706 12.000...................... 50,000 1 0.02 50,000 6.750 349.00 726 16.000...................... 10,015,881 255 4.15 39,278 5.064 299.97 712 17.000...................... 20,509,525 551 8.50 37,222 5.852 299.97 709 18.000...................... 202,658,316 5,257 83.98 38,550 5.451 299.83 712 ---------------- ---------- ------------- Total $ 241,324,861 6,150 100.00% ================ ========== ============= Weighted Average Combined Loan-to-Value Maximum Loan Rates (%) Ratio ------------------------------ -------------- 11.949...................... 99.9% 12.000...................... 100.0 16.000...................... 87.3 17.000...................... 88.7 18.000...................... 87.9 Total

Credit Limits for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Range of Credit Limits ($) Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------ --------------- ----------- ------------- ------------ ----------- ------------ ------------- 0.01 - 10,000.00...... $ 51,561 8 0.02% $ 6,445 6.565% 299.44 706 10,000.01 - 20,000.00...... 4,608,335 268 1.91 17,195 5.326 299.85 706 20,000.01 - 30,000.00...... 46,568,584 1,865 19.30 24,970 5.364 299.95 712 30,000.01 - 40,000.00...... 48,204,201 1,454 19.97 33,153 5.490 299.90 712 40,000.01 - 50,000.00...... 42,222,309 1,024 17.50 41,233 5.403 299.86 714 50,000.01 - 60,000.00...... 26,699,513 519 11.06 51,444 5.791 299.85 714 60,000.01 - 70,000.00...... 19,375,835 325 8.03 59,618 5.843 299.96 708 70,000.01 - 80,000.00...... 10,565,197 177 4.38 59,690 5.194 299.14 711 80,000.01 - 90,000.00...... 8,305,477 118 3.44 70,385 5.150 299.89 693 90,000.01 - 100,000.00...... 16,667,767 225 6.91 74,079 5.099 299.94 706 100,000.01 - 125,000.00...... 7,400,058 74 3.07 100,001 5.839 300.00 704 125,000.01 - 150,000.00...... 10,109,998 88 4.19 114,886 5.563 299.77 719 150,000.01 - 175,000.00...... 505,313 4 0.21 126,328 6.649 300.00 740 225,000.01 - 250,000.00...... 40,713 1 0.02 40,713 4.750 300.00 805 --------------- ----------- ------------- Total $ 241,324,861 6,150 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Range of Credit Limits ($) Ratio ------------------------------ --------------- 0.01 - 10,000.00...... 76.3% 10,000.01 - 20,000.00...... 84.9 20,000.01 - 30,000.00...... 91.1 30,000.01 - 40,000.00...... 90.9 40,000.01 - 50,000.00...... 89.0 50,000.01 - 60,000.00...... 91.0 60,000.01 - 70,000.00...... 89.8 70,000.01 - 80,000.00...... 80.9 80,000.01 - 90,000.00...... 86.6 90,000.01 - 100,000.00...... 74.5 100,000.01 - 125,000.00...... 87.8 125,000.01 - 150,000.00...... 84.9 150,000.01 - 175,000.00...... 82.4 225,000.01 - 250,000.00...... 46.8 Total

Lien Priority for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Lien Priority Outstanding Loans Outstanding Balance Rate (months) Risk Score ---------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Second Liens..................... $ 241,324,861 6,150 100.00% $ 39,240 5.474% 299.87 711 --------------- ----------- ------------- Total $ 241,324,861 6,150 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Lien Priority Ratio ---------------------------------- --------------- Second Liens..................... 88.3% Total

Delinquency Status for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Delinquency Status Outstanding Loans Outstanding Balance Rate (months) Risk Score ---------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Current........................... $ 241,324,861 6,150 100.00% $ 39,240 5.474% 299.87 711 --------------- ----------- ------------- Total $ 241,324,861 6,150 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Delinquency Status Ratio ---------------------------------- --------------- Current........................... 88.3% Total

Origination Year for the Group 1 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Origination Year Outstanding Loans Outstanding Balance Rate (months) Risk Score --------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- 1999............................ $ 83,243 2 0.03% $ 41,622 8.750% 240.00 706 2002............................ 55,494 2 0.02 27,747 7.983 271.00 736 2003............................ 296,793 12 0.12 24,733 5.936 285.45 754 2004............................ 240,889,331 6,134 99.82 39,271 5.471 299.91 711 --------------- ----------- ------------- Total $ 241,324,861 6,150 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Origination Year Ratio -------------------------------- --------------- 999............................ 100.0% 002............................ 91.1 003............................ 80.9 004............................ 88.3 Total

Loan Group 2 Principal Balances for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Range of Principal Balance Mortgage Balance Principal Mortgage Term Bureau Balances ($) Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------ --------------- ----------- ------------- ------------ ----------- ------------ ------------- 0.01 - 10,000.00........ $ 5,284,329 812 1.18% $ 6,508 5.036% 299.27 713 10,000.01 - 20,000.00........ 21,236,597 1,402 4.74 15,147 5.262 299.77 715 20,000.01 - 30,000.00........ 3,204,958 123 0.72 26,057 5.412 299.52 706 30,000.01 - 40,000.00........ 9,459,035 251 2.11 37,685 5.771 299.78 709 40,000.01 - 50,000.00........ 18,498,869 403 4.13 45,903 6.126 299.93 713 50,000.01 - 60,000.00........ 21,077,171 378 4.70 55,760 6.114 299.98 716 60,000.01 - 70,000.00........ 22,603,090 344 5.04 65,707 6.092 299.98 717 70,000.01 - 80,000.00........ 28,042,925 373 6.26 75,182 6.187 299.64 718 80,000.01 - 90,000.00........ 17,688,826 206 3.95 85,868 6.269 299.36 716 90,000.01 - 100,000.00....... 25,246,493 260 5.63 97,102 5.965 299.95 715 100,000.01 - 125,000.00....... 37,919,966 336 8.46 112,857 6.378 299.94 713 125,000.01 - 150,000.00....... 35,996,714 255 8.03 141,164 6.313 299.89 709 150,000.01 - 175,000.00....... 14,690,418 90 3.28 163,227 5.935 298.60 718 175,000.01 - 200,000.00....... 22,297,895 117 4.98 190,580 5.423 299.74 711 200,000.01 - 225,000.00....... 7,845,987 37 1.75 212,054 5.875 299.95 710 225,000.01 - 250,000.00....... 10,411,668 43 2.32 242,132 5.658 299.95 719 250,000.01 - 275,000.00....... 5,280,981 20 1.18 264,049 5.744 299.95 713 275,000.01 - 300,000.00....... 12,358,547 42 2.76 294,251 5.347 299.81 729 300,000.01 - 325,000.00....... 7,822,078 25 1.75 312,883 5.807 299.88 709 325,000.01 - 350,000.00....... 6,771,419 20 1.51 338,571 5.832 299.90 712 350,000.01 - 375,000.00....... 3,299,542 9 0.74 366,616 5.677 299.78 715 375,000.01 - 400,000.00....... 9,479,181 24 2.12 394,966 5.802 299.88 723 400,000.01 - 425,000.00....... 4,942,463 12 1.10 411,872 5.814 299.34 720 425,000.01 - 450,000.00....... 6,181,463 14 1.38 441,533 5.720 299.93 722 450,000.01 - 475,000.00....... 6,477,948 14 1.45 462,711 5.840 299.93 716 475,000.01 - 500,000.00....... 13,950,936 28 3.11 498,248 5.705 299.79 722 500,000.01 - 525,000.00....... 3,095,425 6 0.69 515,904 5.766 300.00 734 525,000.01 - 550,000.00....... 1,622,000 3 0.36 540,667 5.876 299.67 760 550,000.01 - 575,000.00....... 2,253,390 4 0.50 563,348 4.622 299.75 717 575,000.01 - 600,000.00....... 4,776,250 8 1.07 597,031 6.508 298.75 714 600,000.01 - 625,000.00....... 610,000 1 0.14 610,000 3.990 300.00 752 625,000.01 - 650,000.00....... 2,563,513 4 0.57 640,878 4.937 300.00 704 650,000.01 - 675,000.00....... 1,333,000 2 0.30 666,500 6.057 299.01 693 675,000.01 - 700,000.00....... 4,868,400 7 1.09 695,486 6.517 299.86 698 700,000.01 - 725,000.00....... 709,999 1 0.16 709,999 7.250 299.00 743 725,000.01 - 750,000.00....... 2,990,521 4 0.67 747,630 4.969 300.00 706 750,000.01 - 775,000.00....... 3,846,000 5 0.86 769,200 4.543 300.00 696 775,000.01 - 800,000.00....... 4,736,986 6 1.06 789,498 5.124 299.83 733 800,000.01 - 825,000.00....... 3,261,816 4 0.73 815,454 5.087 299.26 719 825,000.01 - 850,000.00....... 840,000 1 0.19 840,000 4.750 300.00 746 875,000.01 - 900,000.00....... 2,690,000 3 0.60 896,667 5.080 298.67 750 975,000.01 - 1,000,000.00..... 12,986,900 13 2.90 998,992 5.066 299.61 721 Greater than 1,000,000.00..... 16,921,340 12 3.78 1,410,112 5.548 299.63 716 --------------- ----------- ------------- Total $448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Range of Principal Loan-to-Value Balances ($) Ratio ------------------------------ -------------- 0.01 - 10,000.00........ 80.8% 10,000.01 - 20,000.00........ 86.9 20,000.01 - 30,000.00........ 78.8 30,000.01 - 40,000.00........ 85.6 40,000.01 - 50,000.00........ 86.7 50,000.01 - 60,000.00........ 88.8 60,000.01 - 70,000.00........ 90.3 70,000.01 - 80,000.00........ 91.9 80,000.01 - 90,000.00........ 91.5 90,000.01 - 100,000.00....... 86.2 100,000.01 - 125,000.00....... 89.9 125,000.01 - 150,000.00....... 86.0 150,000.01 - 175,000.00....... 87.8 175,000.01 - 200,000.00....... 82.1 200,000.01 - 225,000.00....... 87.4 225,000.01 - 250,000.00....... 83.3 250,000.01 - 275,000.00....... 79.8 275,000.01 - 300,000.00....... 78.1 300,000.01 - 325,000.00....... 85.3 325,000.01 - 350,000.00....... 84.5 350,000.01 - 375,000.00....... 85.8 375,000.01 - 400,000.00....... 78.6 400,000.01 - 425,000.00....... 86.3 425,000.01 - 450,000.00....... 84.1 450,000.01 - 475,000.00....... 79.8 475,000.01 - 500,000.00....... 74.5 500,000.01 - 525,000.00....... 88.6 525,000.01 - 550,000.00....... 81.8 550,000.01 - 575,000.00....... 80.9 575,000.01 - 600,000.00....... 81.3 600,000.01 - 625,000.00....... 80.0 625,000.01 - 650,000.00....... 74.0 650,000.01 - 675,000.00....... 80.0 675,000.01 - 700,000.00....... 84.7 700,000.01 - 725,000.00....... 95.0 725,000.01 - 750,000.00....... 81.7 750,000.01 - 775,000.00....... 82.8 775,000.01 - 800,000.00....... 84.4 800,000.01 - 825,000.00....... 74.3 825,000.01 - 850,000.00....... 80.0 875,000.01 - 900,000.00....... 78.4 975,000.01 - 1,000,000.00..... 73.2 Greater than 1,000,000.00..... 76.8 Total

Loan Programs for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Description of Loan Programs Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- 10 Year Draw, 20 Year Repay... $ 1,000 1 (1) $ 1,000 6.500% 347.00 777 5 Year Draw, 10 Year Repay.... 327,050 3 0.07% 109,017 5.425 180.00 710 10 Year Draw, 15 Year Repay... 447,657,488 5,715 99.88 78,330 5.853 299.84 716 15 Year Draw, 10 Year Repay... 189,500 3 0.04 63,167 7.600 300.00 735 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Description of Loan Programs Ratio ------------------------------- --------------- 10 Year Draw, 20 Year Repay... 83.5% 5 Year Draw, 10 Year Repay.... 90.7 10 Year Draw, 15 Year Repay... 85.0 15 Year Draw, 10 Year Repay... 92.3 Total

Loan Rates for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Range of Loan Rates (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score -------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Less than or equal to 3.000.... $ 175,000 1 0.04% $ 175,000 3.000% 300.00 762 3.001 - 3.500................. 861,959 13 0.19 66,305 3.475 299.86 687 3.501 - 4.000................. 85,108,191 1,507 18.99 56,475 3.939 299.69 710 4.001 - 4.500................. 7,566,922 50 1.69 151,338 4.415 299.86 725 4.501 - 5.000................. 110,803,808 1,503 24.72 73,722 4.937 299.81 724 5.001 - 5.500................. 38,018,667 391 8.48 97,234 5.346 299.84 722 5.501 - 6.000................. 40,613,828 325 9.06 124,966 5.841 299.80 717 6.001 - 6.500................. 27,190,439 190 6.07 143,108 6.313 299.62 712 6.501 - 7.000................. 24,502,983 243 5.47 100,835 6.830 299.74 706 7.001 - 7.500................. 35,337,608 469 7.88 75,347 7.346 299.29 723 7.501 - 8.000................. 29,872,745 420 6.67 71,126 7.769 299.86 698 8.001 - 8.500................. 17,532,137 252 3.91 69,572 8.389 299.92 711 8.501 - 9.000................. 10,033,465 142 2.24 70,658 8.837 299.89 716 9.001 - 9.500................. 13,937,050 146 3.11 95,459 9.307 299.96 719 9.501 - 10.000................ 3,428,503 38 0.76 90,224 9.748 300.00 699 10.001 - 10.500................ 2,039,362 22 0.46 92,698 10.260 299.97 680 10.501 - 11.000................ 526,298 4 0.12 131,575 10.898 300.00 697 11.001 - 11.500................ 270,525 3 0.06 90,175 11.250 300.00 633 12.001 - 12.500................ 355,550 3 0.08 118,517 12.453 300.00 668 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Range of Loan Rates (%) Ratio -------------------------------- ---------------- Less than or equal to 3.000.... 99.2% 3.001 - 3.500................. 84.2 3.501 - 4.000................. 82.6 4.001 - 4.500................. 81.2 4.501 - 5.000................. 85.3 5.001 - 5.500................. 79.3 5.501 - 6.000................. 77.9 6.001 - 6.500................. 83.0 6.501 - 7.000................. 83.8 7.001 - 7.500................. 89.6 7.501 - 8.000................. 90.2 8.001 - 8.500................. 95.0 8.501 - 9.000................. 92.9 9.001 - 9.500................. 95.0 9.501 - 10.000................ 95.9 10.001 - 10.500................ 97.3 10.501 - 11.000................ 95.8 11.001 - 11.500................ 98.2 12.001 - 12.500................ 95.6 Total

Months Remaining to Scheduled Maturity for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Range of Months Remaining to Balance Mortgage Balance Principal Mortgage Term Bureau Scheduled Maturity Outstanding Loans Outstanding Balance Rate (months) Risk Score -------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- 169 - 180....................... $ 327,050 3 0.07% $ 109,017 5.425% 180.00 710 217 - 228....................... 12,010 2 (1) 6,005 5.045 218.48 778 277 - 288....................... 470,976 34 0.11 13,852 5.749 283.79 761 289 - 300....................... 447,364,002 5,682 99.82 78,734 5.854 299.86 716 337 - 348....................... 1,000 1 (1) 1,000 6.500 347.00 777 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Range of Months Remaining to Loan-to-Value Scheduled Maturity Ratio -------------------------------- --------------- 169 - 180....................... 90.7% 217 - 228....................... 71.1 277 - 288....................... 71.9 289 - 300....................... 85.0 337 - 348....................... 83.5 Total

Combined Loan-to-Value Ratios for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Range of Combined Loan-to-Value Balance Mortgage Balance Principal Mortgage Term Bureau Ratio (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------------ --------------- ----------- ------------- ------------ ----------- ------------ ------------- 10.01 - 20.00...................... $ 31,000 2 0.01% $ 15,500 3.990% 300.00 730 20.01 - 30.00...................... 197,500 5 0.04 39,500 4.119 300.00 759 30.01 - 40.00...................... 808,512 20 0.18 40,426 4.800 300.00 724 40.01 - 50.00...................... 5,888,547 70 1.31 84,122 5.013 299.95 732 50.01 - 60.00...................... 13,414,488 143 2.99 93,808 5.221 299.75 715 60.01 - 70.00...................... 44,500,528 466 9.93 95,495 5.362 299.68 717 70.01 - 80.00...................... 104,107,280 873 23.23 119,252 5.256 299.77 710 80.01 - 90.00...................... 157,661,800 2,624 35.18 60,085 6.060 299.67 714 90.01 - 100.00..................... 121,565,383 1,519 27.12 80,030 6.398 299.86 721 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Range of Combined Loan-to-Value Loan-to-Value Ratio (%) Ratio ------------------------------------ --------------- 10.01 - 20.00...................... 17.2% 20.01 - 30.00...................... 24.0 30.01 - 40.00...................... 36.8 40.01 - 50.00...................... 45.8 50.01 - 60.00...................... 56.4 60.01 - 70.00...................... 66.3 70.01 - 80.00...................... 77.9 80.01 - 90.00...................... 88.9 90.01 - 100.00..................... 98.3 Total

Geographic Distribution for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau State Outstanding Loans Outstanding Balance Rate (months) Risk Score ----------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Alabama..................... $ 1,745,823 56 0.39% $ 31,175 5.927% 299.85 724 Arizona..................... 5,568,274 177 1.24 31,459 5.712 299.81 719 Arkansas.................... 207,450 4 0.05 51,863 4.004 300.00 778 California.................. 255,103,103 2,117 56.92 120,502 5.924 299.66 717 Colorado.................... 11,636,031 166 2.60 70,097 5.894 299.90 727 Connecticut................. 5,523,638 75 1.23 73,649 5.958 300.00 713 Delaware.................... 215,371 9 0.05 23,930 4.590 299.75 669 District of Columbia........ 957,862 13 0.21 73,682 5.623 299.97 718 Florida..................... 23,926,825 373 5.34 64,147 6.363 299.73 709 Georgia..................... 4,362,513 90 0.97 48,472 5.941 299.61 704 Hawaii...................... 4,473,336 39 1.00 114,701 6.711 299.85 705 Idaho....................... 1,031,296 45 0.23 22,918 5.805 299.86 730 Illinois.................... 11,759,791 200 2.62 58,799 5.457 299.91 722 Indiana..................... 1,933,023 81 0.43 23,864 5.299 299.94 699 Iowa........................ 282,865 11 0.06 25,715 5.103 300.00 760 Kansas...................... 669,139 30 0.15 22,305 4.809 299.81 720 Kentucky.................... 1,357,310 54 0.30 25,135 5.018 300.00 701 Louisiana................... 718,137 26 0.16 27,621 4.974 299.88 723 Maine....................... 103,873 11 0.02 9,443 4.967 299.96 700 Maryland.................... 4,625,979 79 1.03 58,557 5.603 299.92 721 Massachusetts............... 11,193,281 149 2.50 75,123 5.811 299.98 713 Michigan.................... 3,032,621 120 0.68 25,272 5.323 299.88 707 Minnesota................... 2,566,890 66 0.57 38,892 5.869 299.93 705 Mississippi................. 155,608 14 0.03 11,115 4.542 299.97 698 Missouri.................... 3,024,779 93 0.67 32,525 5.046 299.89 716 Montana..................... 613,150 15 0.14 40,877 5.821 300.00 738 Nebraska.................... 75,227 6 0.02 12,538 4.165 300.00 710 Nevada...................... 11,775,193 183 2.63 64,345 6.052 299.84 721 New Hampshire............... 853,253 22 0.19 38,784 4.968 299.92 704 New Jersey.................. 13,953,450 178 3.11 78,390 5.909 299.92 711 New Mexico.................. 391,017 21 0.09 18,620 6.213 299.88 733 New York.................... 19,142,922 196 4.27 97,668 5.582 299.76 709 North Carolina.............. 4,393,137 109 0.98 40,304 5.580 299.93 709 North Dakota................ 38,253 4 0.01 9,563 4.807 299.83 735 Ohio........................ 2,926,861 94 0.65 31,137 6.215 299.92 710 Oklahoma.................... 376,129 24 0.08 15,672 5.199 300.00 708 Oregon...................... 3,039,861 58 0.68 52,411 5.033 299.99 729 Pennsylvania................ 4,047,185 130 0.90 31,132 5.158 299.92 720 Rhode Island................ 1,317,550 16 0.29 82,347 6.795 299.98 694 South Carolina.............. 2,200,467 45 0.49 48,899 5.361 299.95 716 South Dakota................ 35,280 3 0.01 11,760 3.990 300.00 723 Tennessee................... 2,081,259 58 0.46 35,884 5.806 299.53 708 Texas....................... 2,182,000 35 0.49 62,343 4.461 299.59 718 Utah........................ 3,109,048 54 0.69 57,575 6.054 299.97 693 Vermont..................... 124,000 4 0.03 31,000 5.318 300.00 673 Virginia.................... 7,740,428 141 1.73 54,897 5.673 299.98 711 Washington.................. 9,261,043 141 2.07 65,681 5.316 299.97 724 West Virginia............... 186,601 14 0.04 13,329 5.006 299.52 719 Wisconsin................... 2,096,403 69 0.47 30,383 4.976 299.99 712 Wyoming..................... 40,500 4 0.01 10,125 4.763 300.00 695 --------------- ----------- ------------- Total $448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value State Ratio ----------------------------- --------------- Alabama..................... 88.0% Arizona..................... 89.4 Arkansas.................... 80.0 California.................. 84.5 Colorado.................... 85.1 Connecticut................. 83.0 Delaware.................... 89.2 District of Columbia........ 96.2 Florida..................... 85.7 Georgia..................... 89.0 Hawaii...................... 81.8 Idaho....................... 86.6 Illinois.................... 87.7 Indiana..................... 92.7 Iowa........................ 91.7 Kansas...................... 95.1 Kentucky.................... 90.5 Louisiana................... 92.2 Maine....................... 84.5 Maryland.................... 86.5 Massachusetts............... 84.0 Michigan.................... 89.9 Minnesota................... 87.7 Mississippi................. 93.6 Missouri.................... 92.9 Montana..................... 80.3 Nebraska.................... 93.2 Nevada...................... 85.1 New Hampshire............... 80.2 New Jersey.................. 84.0 New Mexico.................. 88.3 New York.................... 78.4 North Carolina.............. 86.1 North Dakota................ 93.0 Ohio........................ 87.2 Oklahoma.................... 91.3 Oregon...................... 87.0 Pennsylvania................ 87.6 Rhode Island................ 91.3 South Carolina.............. 88.0 South Dakota................ 97.2 Tennessee................... 89.7 Texas....................... 81.9 Utah........................ 88.5 Vermont..................... 55.4 Virginia.................... 87.2 Washington.................. 85.8 West Virginia............... 90.5 Wisconsin................... 92.5 Wyoming..................... 90.0 Total

Credit Scores for the Mortgage Loans for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Range of Credit Scores Outstanding Loans Outstanding Balance Rate (months) Risk Score ---------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- 821 - 840........................ $ 1,093,567 13 0.24% $ 84,121 5.776% 299.90 828 801 - 820........................ 7,205,026 127 1.61 56,732 5.375 299.88 807 781 - 800........................ 28,420,816 318 6.34 89,374 5.684 299.54 789 761 - 780........................ 43,552,456 555 9.72 78,473 5.578 299.79 769 741 - 760........................ 57,579,338 696 12.85 82,729 5.785 299.80 750 721 - 740........................ 65,600,890 838 14.64 78,283 5.866 299.54 730 701 - 720........................ 72,715,037 937 16.22 77,604 6.020 299.77 710 681 - 700........................ 65,388,593 789 14.59 82,875 5.962 299.87 691 661 - 680........................ 62,143,508 794 13.87 78,266 6.046 299.71 670 641 - 660........................ 24,679,986 382 5.51 64,607 5.610 299.88 652 621 - 640........................ 16,958,123 237 3.78 71,553 5.810 299.96 632 601 - 620........................ 2,820,898 35 0.63 80,597 5.545 299.72 614 581 - 600........................ 16,800 1 0.00 16,800 3.990 300.00 592 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Range of Credit Scores Ratio ---------------------------------- --------------- 821 - 840........................ 90.9% 801 - 820........................ 87.0 781 - 800........................ 82.9 761 - 780........................ 83.3 741 - 760........................ 84.5 721 - 740........................ 87.5 701 - 720........................ 86.6 681 - 700........................ 85.2 661 - 680........................ 84.2 641 - 660........................ 84.6 621 - 640........................ 80.5 601 - 620........................ 81.0 581 - 600........................ 90.0 Total

Property Type for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Property Type Outstanding Loans Outstanding Balance Rate (months) Risk Score ---------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Single Family................... $ 302,709,477 3,975 67.54% $ 76,153 5.827% 299.71 713 Planned Unit Development (PUD).. 99,312,801 1,102 22.16 90,121 5.748 299.88 721 Low Rise Condominium............ 29,139,357 483 6.50 60,330 6.199 299.65 725 2-4 Units....................... 11,262,459 88 2.51 127,982 6.487 299.81 723 High Rise Condominium........... 5,348,823 60 1.19 89,147 6.200 299.90 718 Manufactured House(1)........... 402,122 14 0.09 28,723 4.251 300.00 731 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Property Type Ratio ---------------------------------- --------------- Single Family................... 84.6% Planned Unit Development (PUD).. 84.5 Low Rise Condominium............ 89.6 2-4 Units....................... 87.8 High Rise Condominium........... 84.6 Manufactured House(1)........... 75.2 Total

Gross Margins for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Range of Gross Margins (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score ----------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Less than or equal to 0.000....... $ 74,778,075 515 16.69% $ 145,200 4.684% 299.72 731 0.001 - 0.250..................... 11,360,307 124 2.53 91,615 4.654 299.74 720 0.251 - 0.500..................... 45,407,548 506 10.13 89,738 4.801 299.90 721 0.501 - 0.750..................... 14,715,414 122 3.28 120,618 5.101 299.80 707 0.751 - 1.000..................... 43,290,229 319 9.66 135,706 5.555 299.39 726 1.001 - 1.250..................... 18,810,886 241 4.20 78,053 5.477 299.73 703 1.251 - 1.500..................... 18,565,428 172 4.14 107,939 5.647 299.61 708 1.501 - 1.750..................... 15,741,925 154 3.51 102,220 6.124 299.77 684 1.751 - 2.000..................... 28,108,934 658 6.27 42,719 5.673 299.84 729 2.001 - 2.250..................... 29,998,636 494 6.69 60,726 5.543 299.89 714 2.251 - 2.500..................... 38,603,404 712 8.61 54,218 6.595 299.65 731 2.501 - 2.750..................... 29,354,634 407 6.55 72,124 7.194 299.59 700 2.751 - 3.000..................... 18,206,232 322 4.06 56,541 5.824 299.92 686 3.001 - 3.250..................... 5,270,695 78 1.18 67,573 6.769 299.89 686 3.251 - 3.500..................... 19,753,613 386 4.41 51,175 7.355 299.95 708 3.501 - 3.750..................... 5,187,644 116 1.16 44,721 7.659 299.84 699 3.751 - 4.000..................... 5,827,687 78 1.30 74,714 6.802 299.93 699 4.001 - 4.250..................... 9,818,655 137 2.19 71,669 8.590 299.98 723 4.251 - 4.500..................... 7,447,147 93 1.66 80,077 9.001 299.95 703 4.501 - 4.750..................... 2,998,658 23 0.67 130,376 8.748 299.98 698 4.751 - 5.000..................... 1,054,536 20 0.24 52,727 8.050 300.00 681 5.001 - 5.250..................... 1,730,332 19 0.39 91,070 10.205 300.00 680 5.251 - 5.500..................... 809,679 12 0.18 67,473 8.037 299.93 671 5.501 - 5.750..................... 118,608 3 0.03 39,536 9.872 300.00 675 5.751 - 6.000..................... 730,066 4 0.16 182,517 10.170 300.00 669 6.001 - 6.250..................... 11,025 1 (1) 11,025 11.250 300.00 689 6.251 - 6.500..................... 2,500 1 (1) 2,500 11.250 300.00 647 7.001 - 7.250..................... 463,550 4 0.10 115,888 11.824 300.00 671 7.751 - 8.000..................... 8,990 1 (1) 8,990 5.000 300.00 629 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% Weighted Average Combined Loan-to-Value Range of Gross Margins (%) Ratio ---------------------------------- --------------- Less than or equal to 0.000....... 80.0% 0.001 - 0.250..................... 74.7 0.251 - 0.500..................... 77.4 0.501 - 0.750..................... 75.7 0.751 - 1.000..................... 79.7 1.001 - 1.250..................... 79.8 1.251 - 1.500..................... 85.2 1.501 - 1.750..................... 81.1 1.751 - 2.000..................... 87.8 2.001 - 2.250..................... 87.7 2.251 - 2.500..................... 91.9 2.501 - 2.750..................... 90.8 2.751 - 3.000..................... 91.9 3.001 - 3.250..................... 90.7 3.251 - 3.500..................... 97.0 3.501 - 3.750..................... 91.3 3.751 - 4.000..................... 96.7 4.001 - 4.250..................... 94.8 4.251 - 4.500..................... 96.2 4.501 - 4.750..................... 96.5 4.751 - 5.000..................... 92.6 5.001 - 5.250..................... 96.5 5.251 - 5.500..................... 97.6 5.501 - 5.750..................... 98.2 5.751 - 6.000..................... 96.5 6.001 - 6.250..................... 95.0 6.251 - 6.500..................... 94.0 7.001 - 7.250..................... 94.2 7.751 - 8.000..................... 90.0 Total

Credit Limit Utilization Rates for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Range of Credit Balance Mortgage Balance Principal Mortgage Term Bureau Limit Utilization Rates (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------------ --------------- ----------- ------------- ------------ ----------- ------------ ------------- 0.01 - 10.00..................... $ 973,795 192 0.22% $ 5,072 5.251% 298.50 735 10.01 - 20.00...................... 2,670,326 213 0.60 12,537 5.304 297.99 724 20.01 - 30.00...................... 3,630,418 195 0.81 18,618 5.045 299.32 726 30.01 - 40.00...................... 5,536,166 205 1.24 27,006 5.161 299.38 721 40.01 - 50.00...................... 6,467,049 209 1.44 30,943 5.217 299.66 724 50.01 - 60.00...................... 7,822,570 184 1.75 42,514 5.122 299.51 717 60.01 - 70.00...................... 11,607,047 194 2.59 59,830 5.343 299.64 714 70.01 - 80.00...................... 8,412,386 153 1.88 54,983 5.062 299.54 702 80.01 - 90.00...................... 6,960,407 97 1.55 71,757 5.135 299.33 718 90.01 - 100.00..................... 394,094,873 4,080 87.93 96,592 5.945 299.80 716 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Range of Credit Loan-to-Value Limit Utilization Rates (%) Ratio ------------------------------------ --------------- 0.01 - 10.00..................... 74.4% 10.01 - 20.00...................... 76.2 20.01 - 30.00...................... 77.4 30.01 - 40.00...................... 77.2 40.01 - 50.00...................... 78.0 50.01 - 60.00...................... 77.4 60.01 - 70.00...................... 77.7 70.01 - 80.00...................... 75.5 80.01 - 90.00...................... 77.7 90.01 - 100.00..................... 86.1 Total

Maximum Loan Rates for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Maximum Loan Rates (%) Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------------ --------------- ----------- ------------- ------------ ----------- ------------ ------------- 6.000........................... $ 13,776 1 (1) $ 13,776 6.000% 296.00 737 11.949............................ 16,012,934 63 3.57% 254,174 5.370 300.00 707 16.000............................ 15,292,875 235 3.41 65,076 5.507 299.85 707 17.000............................ 23,555,040 390 5.26 60,398 6.289 299.69 710 18.000............................ 393,300,414 5,033 87.76 78,144 5.860 299.74 717 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Maximum Loan Rates (%) Ratio ------------------------------------ --------------- 6.000........................... 89.9% 11.949............................ 100.0 16.000............................ 78.8 17.000............................ 84.3 18.000............................ 84.7 Total

Credit Limits for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Range of Credit Limits ($) Outstanding Loans Outstanding Balance Rate (months) Risk Score ----------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- 0.01 - 10,000.00........... $ 1,088,844 138 0.24% $ 7,890 5.723% 299.83 704 10,000.01 - 20,000.00........... 17,885,950 1,334 3.99 13,408 5.322 299.88 714 20,000.01 - 30,000.00........... 4,350,231 343 0.97 12,683 4.873 299.68 710 30,000.01 - 40,000.00........... 8,204,834 305 1.83 26,901 5.827 299.82 708 40,000.01 - 50,000.00........... 17,773,536 490 3.97 36,273 6.086 299.85 713 50,000.01 - 60,000.00........... 20,164,686 396 4.50 50,921 6.136 299.94 716 60,000.01 - 70,000.00........... 21,654,770 358 4.83 60,488 6.106 299.95 716 70,000.01 - 80,000.00........... 26,888,484 399 6.00 67,390 6.205 299.61 719 80,000.01 - 90,000.00........... 17,163,026 222 3.83 77,311 6.382 299.34 718 90,000.01 - 100,000.00.......... 27,781,389 371 6.20 74,882 5.872 299.94 715 100,000.01 - 125,000.00.......... 36,974,672 354 8.25 104,448 6.486 299.94 714 125,000.01 - 150,000.00.......... 37,831,674 313 8.44 120,868 6.249 299.85 708 150,000.01 - 175,000.00.......... 13,806,570 92 3.08 150,071 6.019 298.51 715 175,000.01 - 200,000.00.......... 22,999,095 153 5.13 150,321 5.406 299.96 710 200,000.01 - 225,000.00.......... 7,807,777 49 1.74 159,342 5.871 299.97 703 225,000.01 - 250,000.00.......... 11,771,534 57 2.63 206,518 5.527 299.93 714 250,000.01 - 275,000.00.......... 5,245,399 24 1.17 218,558 5.956 299.95 723 275,000.01 - 300,000.00.......... 12,777,128 52 2.85 245,714 5.277 299.87 726 300,000.01 - 325,000.00.......... 6,909,369 25 1.54 276,375 5.835 299.91 717 325,000.01 - 350,000.00.......... 6,905,808 23 1.54 300,253 5.703 299.70 714 350,000.01 - 375,000.00.......... 4,091,547 13 0.91 314,734 5.399 299.91 715 375,000.01 - 400,000.00.......... 8,819,542 25 1.97 352,782 5.797 299.87 719 400,000.01 - 425,000.00.......... 5,259,912 15 1.17 350,661 5.715 300.00 722 425,000.01 - 450,000.00.......... 6,726,463 17 1.50 395,674 5.705 299.93 725 450,000.01 - 475,000.00.......... 6,199,774 14 1.38 442,841 5.861 299.93 717 475,000.01 - 500,000.00.......... 18,268,347 47 4.08 388,688 5.719 299.54 721 500,000.01 - 525,000.00.......... 3,482,716 8 0.78 435,340 5.763 300.00 729 525,000.01 - 550,000.00.......... 1,072,000 2 0.24 536,000 5.812 299.51 797 550,000.01 - 575,000.00.......... 2,253,390 4 0.50 563,348 4.622 299.75 717 575,000.01 - 600,000.00.......... 4,726,250 8 1.05 590,781 6.640 299.37 702 600,000.01 - 625,000.00.......... 610,000 1 0.14 610,000 3.990 300.00 752 625,000.01 - 650,000.00.......... 1,934,800 3 0.43 644,933 4.916 300.00 711 650,000.01 - 675,000.00.......... 1,961,713 3 0.44 653,904 5.718 299.33 690 675,000.01 - 700,000.00.......... 4,623,300 7 1.03 660,471 6.507 300.00 694 700,000.01 - 725,000.00.......... 709,999 1 0.16 709,999 7.250 299.00 743 725,000.01 - 750,000.00.......... 2,250,000 3 0.50 750,000 5.292 300.00 693 750,000.01 - 775,000.00.......... 4,204,000 6 0.94 700,667 4.752 299.91 694 775,000.01 - 800,000.00.......... 4,970,932 7 1.11 710,133 5.118 299.84 736 800,000.01 - 825,000.00.......... 2,240,000 3 0.50 746,667 4.630 298.66 714 825,000.01 - 850,000.00.......... 840,000 1 0.19 840,000 4.750 300.00 746 875,000.01 - 900,000.00.......... 2,690,000 3 0.60 896,667 5.080 298.67 750 975,000.01 - 1,000,000.00........ 15,786,900 19 3.52 830,889 5.088 299.36 728 Greater than 1,000,000.00........ 18,468,676 14 4.12 1,319,191 5.511 299.57 717 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Range of Credit Limits ($) Ratio ------------------------------------ --------------- 0.01 - 10,000.00........... 86.7% 10,000.01 - 20,000.00........... 88.1 20,000.01 - 30,000.00........... 82.7 30,000.01 - 40,000.00........... 86.1 40,000.01 - 50,000.00........... 86.3 50,000.01 - 60,000.00........... 89.2 60,000.01 - 70,000.00........... 91.0 70,000.01 - 80,000.00........... 92.3 80,000.01 - 90,000.00........... 92.5 90,000.01 - 100,000.00.......... 85.3 100,000.01 - 125,000.00.......... 90.7 125,000.01 - 150,000.00.......... 85.8 150,000.01 - 175,000.00.......... 89.7 175,000.01 - 200,000.00.......... 81.5 200,000.01 - 225,000.00.......... 88.6 225,000.01 - 250,000.00.......... 81.7 250,000.01 - 275,000.00.......... 83.2 275,000.01 - 300,000.00.......... 77.9 300,000.01 - 325,000.00.......... 85.6 325,000.01 - 350,000.00.......... 83.4 350,000.01 - 375,000.00.......... 84.6 375,000.01 - 400,000.00.......... 78.8 400,000.01 - 425,000.00.......... 88.6 425,000.01 - 450,000.00.......... 82.4 450,000.01 - 475,000.00.......... 81.0 475,000.01 - 500,000.00.......... 73.8 500,000.01 - 525,000.00.......... 88.7 525,000.01 - 550,000.00.......... 77.6 550,000.01 - 575,000.00.......... 80.9 575,000.01 - 600,000.00.......... 81.2 600,000.01 - 625,000.00.......... 80.0 625,000.01 - 650,000.00.......... 68.8 650,000.01 - 675,000.00.......... 83.2 675,000.01 - 700,000.00.......... 80.3 700,000.01 - 725,000.00.......... 95.0 725,000.01 - 750,000.00.......... 87.2 750,000.01 - 775,000.00.......... 83.5 775,000.01 - 800,000.00.......... 85.1 800,000.01 - 825,000.00.......... 82.6 825,000.01 - 850,000.00.......... 80.0 875,000.01 - 900,000.00.......... 78.4 975,000.01 - 1,000,000.00........ 72.8 Greater than 1,000,000.00........ 76.5 Total

Lien Priority for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Lien Priority Outstanding Loans Outstanding Balance Rate (months) Risk Score -------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Second Liens.................... $ 448,175,038 5,722 100.00% $ 78,325 5.853% 299.75 716 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Lien Priority Ratio -------------------------------- --------------- Second Liens.................... 85.0% Total

Delinquency Status for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Delinquency Status Outstanding Loans Outstanding Balance Rate (months) Risk Score ---------------------------------- --------------- ----------- ------------- ------------ ----------- ------------ ------------- Current........................... $ 448,175,038 5,722 100.00% $ 78,325 5.853% 299.75 716 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Delinquency Status Ratio ---------------------------------- --------------- Current........................... 85.0% Total

Origination Year for the Group 2 Mortgage Loans Percent of Weighted Weighted Weighted Aggregate Number Aggregate Average Average Average Average Principal of Principal Current Gross Remaining Credit Balance Mortgage Balance Principal Mortgage Term Bureau Origination Year Outstanding Loans Outstanding Balance Rate (months) Risk Score ------------------------------------ --------------- ----------- ------------- ------------ ----------- ------------ ------------- 1998............................... $ 12,010 2 (1) $ 6,005 5.045% 218.48 778 2003............................... 509,976 36 0.11% 14,166 5.937 284.30 757 2004............................... 447,653,052 5,684 99.88 78,757 5.853 299.77 716 --------------- ----------- ------------- Total $ 448,175,038 5,722 100.00% =============== =========== ============= Weighted Average Combined Loan-to-Value Origination Year Ratio ------------------------------------ --------------- 1998............................... 71.1% 2003............................... 73.2 2004............................... 85.0 Total

Filing Compare · CWABS Revolving Home Equity Loan Trust Series, 2004-U