8-K 1 d8k.txt FORM 8-K 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) February 20, 2002. ----------------- Oakwood Mortgage Investors, Inc. -------------------------------- (Exact name of registrant as specified in charter) Nevada 333-70496 88-0396566 -------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 101 Convention Center Drive, Suite 850, Las Vegas, Nevada 89109 ----------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (702) 949-0056 --------------- =============================================================================== (Former name or former address, if changed since last report.) Item 5. Other Events. The Registrant expects to enter into an underwriting agreement with Credit Suisse First Boston Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "Underwriters"), pursuant to which the Underwriters will agree to purchase and offer for sale to the public approximately $138,810,000 aggregate initial principal amount of the Registrant's Senior/Subordinated Pass-Through Certificates, Series 2002-A, Class A-1, Class A-2, Class A-3, Class A-4, Class A-IO, Class M-1, Class M-2 and Class B-1 (the "Offered Securities"). The Offered Securities will be registered for sale under the Registrant's effective Shelf Registration Statement on Form S-3 (333-70496), and will be offered pursuant to the Prospectus and a related Prospectus Supplement to be filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended and Rule 424 thereunder. In connection with the offering of the Offered Securities, the Underwriters have prepared and disseminated to potential purchasers a "Series Term Sheet" as such term is defined in the No-Action response letter to Greenwood Trust Company, Discover Card Master Trust I (publicly available April 5, 1996), in the No-Action response letter to Kidder, Peabody & Co., Incorporated and certain affiliates thereof (publicly available May 20, 1994) and in the No-Action Letter response letter to Cleary, Gottlieb, Steen & Hamilton on behalf of the Public Securities Association (publicly available February 17, 1995), respectively. In accordance with such No-Action letters, the Registrant is filing herewith such Series Term Sheet as Exhibit 99.1. In addition, the Registrant is filing Exhibits 5.1, 8.1 and 23.1 listed in Item 7(c) below in connection with the proposed issuance of the Offered Securities. Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits. (c) Exhibits. 5.1 Legality Opinion of Messrs. Hunton & Williams 8.1 Tax Opinion of Messrs. Hunton & Williams (included in Exhibit 5.1) 23.1 Consent of Messrs. Hunton & Williams (included in Exhibit 5.1) 99.1 Copy of Series Term Sheet -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. February 21, 2002 OAKWOOD MORTGAGE INVESTORS, INC. By: /s/ Dennis W. Hazelrigg -------------------------------- Name: Dennis W. Hazelrigg Title: President INDEX TO EXHIBITS -----------------

~~Percentage~~Page of---- ~~Number~~5.1 ofLegality ~~8-K~~Opinion ~~Aggregate~~of ~~Scheduled~~Messrs. ~~Asset~~Hunton ~~Pool~~& byWilliams ~~Scheduled~~............ ~~Credit~~[Electronic ~~Bureau~~Format] ~~Score/(~~8.1)/ ~~Assets~~Tax ~~Principal~~Opinion ~~Balance~~of ~~Principal~~Messrs. ~~Balance~~Hunton ~~-----------------------------------------~~& ~~------------------~~Williams ~~---------------------~~(included ~~----------------------------~~in ~~Not~~Exhibit ~~Available/(2~~5.1)/ 28................................ $[Electronic ~~918,940.82~~Format] 223.~~22%~~1 3Consent orof 30Messrs. ~~(Insufficient~~Hunton ~~Credit~~& ~~History)/~~Williams (~~3)/~~included 77in ~~2,402,497.67~~Exhibit 5.~~82 341 to 500 31~~ 1~~,166,501.03~~) 2.~~82 501 to 510 5 170,886~~.~~37 0~~.~~41 511 to 520 10 406,832~~.~~81 0~~.~~98 521 to 530 16 668,266~~.~~88 1~~.~~62 531 to 540 10 487,071~~.~~74 1~~.~~18 541 to 550 19 741,591~~.~~13 1~~.~~80 551 to 560 6 236,864~~.~~26 0~~.~~57 561 to 570 23 893,789~~.~~74 2~~.~~16 571 to 580 29 1,411,288~~.~~41 3~~.~~42 581 to 590 41 1,865,987~~.~~16 4~~.~~52 591 to 600 47 2,480,208~~.~~20 6~~.~~00 601 to 610 40 2,305,724~~.~~04 5~~.~~58 611 to 620 39 2,264,046~~.~~04 5~~.~~48 621 to 630 34 1,945,390~~.~~05 4~~.~~71 631 to 640 36 1,964,476~~.~~34 4~~.~~76 641 to 650 39 2,206,334~~.~~63 5~~.34. ~~651~~[Electronic toFormat] ~~660 32 1,825,282~~99.901 ~~4.42~~Copy ~~661~~of toSeries ~~719~~Term ~~156~~Sheet ~~10,368,986~~.~~08 25~~.~~10 720 or Greater 72 4,578,188~~.~~88 11~~.~~08 --- -------------- ------ Total 790 $41,309,155~~.~~18 100~~.~~00%~~.......................... ~~===~~[Electronic ~~============== =======~~Format]

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Unit Type Assets Principal Balance Principal Balance -------------------------------------------------------------------------------------------------------------- Multi-section home 457 $30,380,628.58 73.54% Single-section home 333 10,928,526.60 26.46 --- -------------- -------- Total 790 $41,309,155.18 100.00% === ============== =======

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Property Type Assets Principal Balance Principal Balance -------------------------------------------------------------------------------------------------------------- Home-only Contract 625 $ 26,019,128.17 62.99% Mortgage Loan 161 15,067,265.18 36.47 Land-in-lieu Mortgage Loan 4 222,761.83 0.54 --- --------------- ------- Total 790 $ 41,309,155.18 100.00% === =============== =======

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Geographic Location Assets Principal Balance Principal Balance ----------------------------------------------------------------------------------------- Alabama 13 $ 427,639.14 1.04% Arizona 28 2,500,699.95 6.05 Arkansas 15 616,031.93 1.49 California 25 1,941,806.22 4.70 Colorado 24 1,353,680.34 3.28 Connecticut 1 26,922.00 0.07 Delaware 8 420,471.16 1.02 Florida 9 447,657.02 1.08 Georgia 22 1,066,747.41 2.58 Idaho 9 395,290.18 0.96 Illinois 1 38,475.13 0.09 Indiana 2 110,070.64 0.27 Kansas 24 1,163,913.70 2.82 Kentucky 18 879,559.80 2.13 Louisiana 17 643,934.89 1.56 Maryland 2 129,106.60 0.31 Massachusetts 1 47,320.00 0.11 Michigan 22 1,295,455.00 3.14 Minnesota 1 36,886.00 0.09 Mississippi 14 485,016.52 1.17 Missouri 11 565,504.81 1.37 Montana 1 49,804.56 0.12 Nevada 14 1,113,182.92 2.69 New Mexico 18 1,012,858.27 2.45 North Carolina 141 6,793,510.63 16.45 Ohio 19 926,679.03 2.24 Oklahoma 17 822,275.13 1.99 Oregon 7 799,730.05 1.94 South Carolina 64 2,934,225.03 7.10 Tennessee 26 1,342,003.98 3.25 Texas 117 5,510,162.49 13.34 Utah 2 182,079.19 0.44 Virginia 45 2,092,489.32 5.07 Washington 20 1,837,191.50 4.45 West Virginia 31 1,262,742.63 3.06 Wyoming 1 38,032.01 0.09 --- ----------------- ------ Total 790 $ 41,309,155.18 100.00% === ================= ======

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Year of Origination Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- 1990 1 6,153.85 0.01% 1998 1 9,638.15 0.02 2000 2 42,066.04 0.10 2001 786 41,251,297.14 99.86 Total 790 41,309,155.18 100.00% === ============= =======

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Remaining Loan Balance Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- $ 5,000.00 - $ 9,999.99 7 53,382.04 0.13% $ 10,000.00 - $14,999.99 11 140,946.17 0.34 $ 15,000.00 - $19,999.99 20 345,986.29 0.84 $ 20,000.00 - $24,999.99 40 908,995.80 2.20 $ 25,000.00 - $29,999.99 95 2,623,326.94 6.35 $ 30,000.00 - $34,999.99 97 3,171,542.68 7.68 $ 35,000.00 - $39,999.99 80 2,984,821.91 7.23 $ 40,000.00 - $44,999.99 55 2,335,748.14 5.65 $ 45,000.00 - $49,999.99 49 2,324,134.86 5.63 $ 50,000.00 - $54,999.99 44 2,316,728.42 5.61 $ 55,000.00 - $59,999.99 47 2,682,868.63 6.49 $ 60,000.00 - $64,999.99 44 2,762,362.82 6.69 $ 65,000.00 - $69,999.99 32 2,151,708.83 5.21 $ 70,000.00 - $74,999.99 37 2,669,555.47 6.46 $ 75,000.00 - $79,999.99 12 927,728.47 2.25 $ 80,000.00 - $84,999.99 16 1,318,764.79 3.19 $ 85,000.00 - $89,999.99 14 1,226,728.17 2.97 $ 90,000.00 - $94,999.99 14 1,290,961.80 3.13 $ 95,000.00 - $99,999.99 16 1,569,495.18 3.80 $100,000.00 or more 60 7,503,367.77 18.16 --- ------------- ------ Total 790 41,309,155.18 100.00% === ============= ======

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Original Loan Balance Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- $ 5,000.00 - $ 9,999.99 5 $ 37,590.04 0.09% $ 10,000.00 - $14,999.99 10 128,823.60 0.31 $ 15,000.00 - $19,999.99 23 373,900.86 0.91 $ 20,000.00 - $24,999.99 40 908,995.80 2.20 $ 25,000.00 - $29,999.99 94 2,593,334.61 6.28 $ 30,000.00 - $34,999.99 97 3,166,589.04 7.67 $ 35,000.00 - $39,999.99 81 3,019,767.88 7.31 $ 40,000.00 - $44,999.99 53 2,247,775.90 5.44 $ 45,000.00 - $49,999.99 51 2,412,107.10 5.84 $ 50,000.00 - $54,999.99 44 2,316,728.42 5.61 $ 55,000.00 - $59,999.99 47 2,682,868.63 6.49 $ 60,000.00 - $64,999.99 44 2,762,362.82 6.69 $ 65,000.00 - $69,999.99 32 2,151,708.83 5.21 $ 70,000.00 - $74,999.99 37 2,669,555.47 6.46 $ 75,000.00 - $79,999.99 12 927,728.47 2.25 $ 80,000.00 - $84,999.99 16 1,318,764.79 3.19 $ 85,000.00 - $89,999.99 14 1,226,728.17 2.97 $ 90,000.00 - $94,999.99 14 1,290,961.80 3.13 $ 95,000.00 - $99,999.99 16 1,569,495.18 3.80 $100,000.00 or more 60 7,503,367.77 18.16 --- -------------- ------ Total 790 $41,309,155.18 100.00% === ============== ======

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Current Asset Rate Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- 6.000% - 6.999% 5 $ 293,350.26 0.71% 7.000% - 7.999% 63 5,803,248.79 14.05 8.000% - 8.999% 80 6,729,446.36 16.29 9.000% - 9.999% 79 5,017,370.52 12.15 10.000% - 10.999% 73 4,038,873.55 9.78 11.000% - 11.999% 80 4,514,782.07 10.93 12.000% - 12.999% 71 3,151,780.26 7.63 13.000% - 13.999% 63 2,711,055.81 6.56 14.000% - 14.999% 124 4,581,443.08 11.09 15.000% - 15.999% 74 2,152,348.08 5.21 16.000% or more 78 2,315,456.40 5.61 --- -------------- ------ Total 790 $41,309,155.18 100.00% === ============== ======

Aggregate Percentage of Scheduled Asset Pool by Scheduled Remaining Term to Maturity Number of 8-K Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- 1 - 60 8 $ 72,666.56 0.18% 61 - 96 4 88,949.80 0.22 97 - 120 14 290,121.07 0.70 121 - 156 24 508,935.96 1.23 157 - 180 53 1,479,778.93 3.58 181 - 216 1 27,629.00 0.07 217 - 240 194 6,505,201.67 15.75 241 - 300 164 7,612,707.11 18.43 301 - 360 328 24,723,165.08 59.85 --- -------------- ------ Total 790 $41,309,155.18 100.00% === ============== ======

Percentage of Number of 8-K Aggregate Scheduled Asset Pool by Scheduled Original Term to Maturity Assets Principal Balance Principal Balance ----------------------------------------------------------------------------------------------------------- 1 - 60 6 $56,874.56 0.14% 61 - 96 5 98,587.95 0.24 97 - 120 14 290,121.07 0.70 121 - 156 24 508,935.96 1.23 157 - 180 54 1,485,932.78 3.60 181 - 216 1 27,629.00 0.07 217 - 240 194 6,505,201.67 15.75 241 - 300 164 7,612,707.11 18.43 301 - 360 328 24,723,165.08 59.85 --- ------------- ----- Total 790 $41,309,155.18 100.00% === ============== =======

Aggregate Percentage of Number of 8-K Scheduled Asset Pool by Scheduled Loan-to-Value Ratio/(1)/ Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- 50% or less 7 $138,815.35 0.34% 51% - 55% 4 191,808.93 0.46 56% - 60% 7 316,151.56 0.77 61% - 65% 12 682,746.72 1.65 66% - 70% 39 1,964,261.45 4.76 71% - 75% 19 1,123,444.97 2.72 76% - 80% 29 1,915,706.48 4.64 81% - 85% 39 2,690,752.29 6.51 86% - 90% 115 6,132,145.68 14.84 91% - 95% 347 17,278,551.80 41.83 96% - 100% 172 8,874,769.95 21.48 --- -------------- ----- Total 790 $41,309,155.18 100.00% === ============== =======

Percentage of Number of Aggregate the Repossessed 8-K Repossessed 8-K Scheduled Assets by Scheduled Credit Bureau Score Assets Principal Balance Principal Balance ------------------------------------------------------------------------------------------------------------- Not Available/(2)/ 19 $ 622,348.61 8.73% 3 or 30 (Insufficient Credit History)/(3)/ 46 1,451,114.88 20.35 341 to 500 18 681,360.66 9.56 501 to 510 3 92,408.00 1.30 511 to 520 6 214,121.79 3.00 521 to 530 10 414,369.58 5.81 531 to 540 8 392,071.71 5.50 541 to 550 9 308,654.15 4.33 551 to 560 4 164,912.87 2.31 561 to 570 8 242,326.96 3.40 571 to 580 6 208,896.65 2.93 581 to 590 12 442,985.74 6.21 591 to 600 7 322,442.61 4.52 601 to 610 7 238,906.20 3.35 611 to 620 10 491,477.03 6.89 621 to 630 2 75,548.58 1.06 631 to 640 3 128,316.36 1.80 641 to 650 2 120,789.69 1.69 651 to 660 2 88,303.23 1.24 661 to 719 8 351,680.83 4.93 720 or Greater 2 76,054.30 1.07 --- -------------- ------ Total 192 $ 7,129,090.43 100.00% === ============== ======

Percentage of Number of Aggregate the Repossessed 8-K Assets Repossessed 8-K Scheduled by Scheduled Unit Type Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- Multi-section home 60 $3,233,962.28 45.36% Single-section home 132 3,895,128.15 54.64 --- ------------ ----- Total 192 $7,129,090.43 100.00% === ============= =======

Percentage of Number of Aggregate the Repossessed 8-K Repossessed 8-K Scheduled Assets by Scheduled Property Type Assets Principal Balance Principal Balance --------------------------------------------------------------------------------------------------------------- Home-only Contract 181 $6,405,168.72 89.85% Mortgage Loan 11 723,921.71 10.15 -- ---------- ----- Total 192 $7,129,090.43 100.00% === ============= =======

Number of Percentage of Non Aggregate the Non Repossessed 8-K Repossessed Scheduled Assets by Scheduled Credit Bureau Score 8-K Assets Principal Balance Principal Balance ---------------------------------------------------------------------------------------------------------- Not Available /(2)/ 9 $ 296,592.21 0.87% 3 or 30 (Insufficient Credit History)/(3)/ 31 951,382.79 2.78 341 to 500 13 485,140.37 1.42 501 to 510 2 78,478.37 0.23 511 to 520 4 192,711.02 0.56 521 to 530 6 253,897.30 0.74 531 to 540 2 95,000.03 0.28 541 to 550 10 432,936.98 1.27 551 to 560 2 71,951.39 0.21 561 to 570 15 651,462.78 1.91 571 to 580 23 1,202,391.76 3.52 581 to 590 29 1,423,001.42 4.16 591 to 600 40 2,157,765.59 6.31 601 to 610 33 2,066,817.84 6.05 611 to 620 29 1,772,569.01 5.19 621 to 630 32 1,869,841.47 5.47 631 to 640 33 1,836,159.98 5.37 641 to 650 37 2,085,544.94 6.10 651 to 660 30 1,736,979.67 5.08 661 to 719 148 10,017,305.25 29.31 720 or Greater 70 4,502,134.58 13.17 --- -------------- ------ Total 598 $34,180,064.75 100.00% === ============== ======

Percentage of Number of Non the Non Repossessed 8-K Repossessed 8-K Aggregate Scheduled Assets by Scheduled Unit Type Assets Principal Balance Principal Balance ------------------------------------------------------------------------------------------------- Multi-section home 397 $27,146,666.30 79.42% Single-section home 201 7,033,398.45 20.58 --- -------------- ------ Total 598 $34,180,064.75 100.00% === ============== ======

Percentage of Number of Non the Non Repossessed 8-K Repossessed 8-K Aggregate Scheduled Assets by Scheduled Property Type Assets Principal Balance Principal Balance ------------------------------------------------------------------------------------------------- Home-only Contract 444 $19,613,959.45 57.38% Mortgage Loan 150 14,343,343.47 41.96 Land-in-lieu Mortgage Loan 4 222,761.83 0.65 --- -------------- ------ Total 598 $34,180,064.75 100.00% === ============== ======

Percentage of Number of Non Aggregate the Non Repossessed 8- Repossessed 8-K Scheduled K Assets by Scheduled Geographic Location Assets Principal Balance Principal Balance ------------------------------------------------------------------------------------------------- Alabama 10 $ 316,199.64 0.93% Arizona 21 2,092,915.54 6.12 Arkansas 8 419,268.50 1.23 California 25 1,941,806.22 5.68 Colorado 23 1,317,377.44 3.85 Connecticut 1 26,922.00 0.08 Delaware 7 388,056.16 1.14 Florida 5 293,744.46 0.86 Georgia 17 896,183.91 2.62 Idaho 8 324,056.48 0.95 Illinois 1 38,475.13 0.11 Indiana 2 110,070.64 0.32 Kansas 21 1,048,985.27 3.07 Kentucky 13 721,550.30 2.11 Louisiana 7 285,037.41 0.83 Maryland 2 129,106.60 0.38 Massachusetts 1 47,320.00 0.14 Michigan 20 1,173,899.43 3.43 Minnesota 1 36,886.00 0.11 Mississippi 8 273,599.62 0.80 Missouri 8 426,364.78 1.25 Montana 1 49,804.56 0.15 Nevada 13 1,064,779.92 3.12 New Mexico 11 644,078.76 1.88 North Carolina 100 5,484,251.67 16.05 Ohio 11 613,072.99 1.79 Oklahoma 11 570,938.06 1.67 Oregon 7 799,730.05 2.34 South Carolina 44 2,246,649.62 6.57 Tennessee 19 1,106,447.64 3.24 Texas 86 4,367,955.83 12.78 Utah 2 182,079.19 0.53 Virginia 37 1,794,877.68 5.25 Washington 19 1,774,239.55 5.19 West Virginia 27 1,135,301.69 3.32 Wyoming 1 38,032.01 0.11 --- -------------- ------ Total 598 $34,180,064.75 100.00% === ============== ======

Percentage of Number of Aggregate the Non Repossessed 8-K Non-Repossessed 8-K Scheduled Assets by Scheduled Year of Origination Assets Principal Balance Principal Balance -------------------------------------------------------------------------------------------------- 1990 1 6,153.85 0.02% 1998 1 9,638.15 0.03 2001 596 34,164,272.75 99.95 Total 598 34,180,064.75 100.00% === ============= =======

Percentage of Number of Non Aggregate the Non Repossessed 8-K Repossessed 8-K Scheduled Assets by Scheduled Remaining Loan Balance Assets Principal Balance Principal Balance -------------------------------------------------------------------------------------------------- $ 5,000.00 - $ 9,999.99 7 $ 53,382.04 0.16% $ 10,000.00 - $14,999.99 7 87,745.49 0.26 $ 15,000.00 - $19,999.99 10 167,973.62 0.49 $ 20,000.00 - $24,999.99 18 414,338.67 1.21 $ 25,000.00 - $29,999.99 56 1,548,770.70 4.53 $ 30,000.00 - $34,999.99 59 1,926,638.07 5.64 $ 35,000.00 - $39,999.99 59 2,205,204.47 6.45 $ 40,000.00 - $44,999.99 42 1,781,125.93 5.21 $ 45,000.00 - $49,999.99 38 1,798,561.99 5.26 $ 50,000.00 - $54,999.99 36 1,893,533.24 5.54 $ 55,000.00 - $59,999.99 38 2,171,937.22 6.35 $ 60,000.00 - $64,999.99 38 2,384,916.22 6.98 $ 65,000.00 - $69,999.99 30 2,016,653.48 5.90 $ 70,000.00 - $74,999.99 34 2,451,698.86 7.17 $ 75,000.00 - $79,999.99 10 773,118.47 2.26 $ 80,000.00 - $84,999.99 14 1,156,810.64 3.38 $ 85,000.00 - $89,999.99 14 1,226,728.17 3.59 $ 90,000.00 - $94,999.99 14 1,290,961.80 3.78 $ 95,000.00 - $99,999.99 15 1,471,561.18 4.31 $100,000.00 or more 59 7,358,404.49 21.53 --- ----------------- ------ Total 598 $ 34,180,064.75 100.00% === ================= ======

Percentage of Number of Non Aggregate the Non Repossessed 8-K Repossessed 8-K Scheduled Assets by Scheduled Original Loan Balance Assets Principal Balance Principal Balance ------------------------------------------------------------------------------------------------------ $ 5,000.00 - $ 9,999.99 5 $ 37,590.04 0.11% $ 10,000.00 - $14,999.99 7 87,745.49 0.26 $ 15,000.00 - $19,999.99 12 183,765.62 0.54 $ 20,000.00 - $24,999.99 18 414,338.67 1.21 $ 25,000.00 - $29,999.99 55 1,518,778.37 4.44 $ 30,000.00 - $34,999.99 60 1,956,630.40 5.72 $ 35,000.00 - $39,999.99 59 2,205,204.47 6.45 $ 40,000.00 - $44,999.99 40 1,693,153.69 4.95 $ 45,000.00 - $49,999.99 40 1,886,534.23 5.52 $ 50,000.00 - $54,999.99 36 1,893,533.24 5.54 $ 55,000.00 - $59,999.99 38 2,171,937.22 6.35 $ 60,000.00 - $64,999.99 38 2,384,916.22 6.98 $ 65,000.00 - $69,999.99 30 2,016,653.48 5.90 $ 70,000.00 - $74,999.99 34 2,451,698.86 7.17 $ 75,000.00 - $79,999.99 10 773,118.47 2.26 $ 80,000.00 - $84,999.99 14 1,156,810.64 3.38 $ 85,000.00 - $89,999.99 14 1,226,728.17 3.59 $ 90,000.00 - $94,999.99 14 1,290,961.80 3.78 $ 95,000.00 - $99,999.99 15 1,471,561.18 4.31 $100,000.00 or more 59 7,358,404.49 21.53 --- ----------------- ------ Total 598 $ 34,180,064.75 100.00% === ================= ======

Percentage of Number of Non Aggregate the Non Repossessed 8-K Repossessed 8-K Scheduled Assets by Scheduled Current Asset Rate Assets Principal Balance Principal Balance ----------------------------------------------------------------------------------------------- 6.000% - 6.999% 5 $ 293,350.26 0.86% 7.000% - 7.999% 63 5,803,248.79 16.98 8.000% - 8.999% 79 6,584,483.08 19.26 9.000% - 9.999% 79 5,017,370.52 14.68 10.000% - 10.999% 70 3,833,937.14 11.22 11.000% - 11.999% 73 4,042,017.45 11.83 12.000% - 12.999% 54 2,385,467.18 6.98 13.000% - 13.999% 52 2,295,304.82 6.72 14.000% - 14.999% 88 2,806,010.43 8.21 15.000% - 15.999% 28 891,682.92 2.61 16.000% or more 7 227,192.16 0.66 --- -------------- ------ Total 598 $34,180,064.75 100.00% === ============== ======

Percentage of Number of Non Aggregate the Non Repossessed 8-K Repossessed 8-K Scheduled Assets by Scheduled Remaining Term to Maturity Assets Principal Balance Principal Balance ----------------------------------------------------------------------------------------------- 1 - 60 8 $ 72,666.56 0.21% 61 - 96 3 73,743.80 0.22 97 - 120 9 166,618.04 0.49 121 - 156 1 23,261.00 0.07 157 - 180 20 608,997.21 1.78 217 - 240 128 4,286,553.10 12.54 241 - 300 122 5,646,793.15 16.52 301 - 360 307 23,301,431.89 68.17 --- ------------- ------ Total 598 $34,180,064.75 100.00% === ============== ======

Percentage of Number of Non the Non Repossessed 8-K Repossessed 8-K Aggregate Scheduled Assets by Scheduled Original Term to Maturity Assets Principal Balance Principal Balance ------------------------------------------------------------------------------------------------- 1 - 60 6 $56,874.56 0.17% 61 - 96 4 83,381.95 0.24 97 - 120 9 166,618.04 0.49 121 - 156 1 23,261.00 0.07 157 - 180 21 615,151.06 1.80 217 - 240 128 4,286,553.10 12.54 241 - 300 122 5,646,793.15 16.52 301 - 360 307 23,301,431.89 68.17 Total 598 $34,180,064.75 100.00% === ============== ======

Percentage of Number of Non the Non Repossessed 8-K Repossessed 8-K Aggregate Scheduled Assets by Scheduled Loan-to-Value Ratio/(1)/ Assets Principal Balance Principal Balance -------------------------------------------------------------------------------------------- 50% or less 7 $138,815.35 0.41% 51% - 55% 4 191,808.93 0.56 56% - 60% 6 290,303.56 0.85 61% - 65% 11 537,783.44 1.57 66% - 70% 39 1,964,261.45 5.75 71% - 75% 19 1,123,444.97 3.29 76% - 80% 27 1,863,313.85 5.45 81% - 85% 37 2,619,249.35 7.66 86% - 90% 106 5,830,195.16 17.06 91% - 95% 280 14,855,375.30 43.46 96% - 100% 62 4,765,513.39 13.94 --- -------------- ------ Total 598 $34,180,064.75 100.00% === =============== ======

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