[GRAPHIC OMITTED] COMPUTATIONAL MATERIALS
▇▇▇▇▇▇▇ ▇▇▇▇▇ INDX 2005-AR23
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RMBS New Transaction
IndyMac INDX Mortgage Loan Trust 2005-AR23
Computational Materials
$[1,110,000,000] (approximate)
IndyMac MBS, Inc.
Depositor
IndyMac BankSM
Seller and Master Servicer
August [18], 2005
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Recipients must read the information contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement.
1
[GRAPHIC OMITTED] COMPUTATIONAL MATERIALS
▇▇▇▇▇▇▇ ▇▇▇▇▇ INDX 2005-AR23
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This document and the information contained herein (the "Computational
Materials") are confidential and may not be used by or disclosed to any person
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to any and all persons, without limitation of any kind, the federal income tax
treatment and tax structure of the securities described herein, any fact
relevant to understanding the federal tax treatment or tax structure of the
issuer or the securities, and all materials of any kind relating to such
federal tax treatment and structure, other than the identity of the issuer and
information that would permit the identification of the issuer.
These Computational Materials are furnished to you solely by ▇▇▇▇▇▇▇ ▇▇▇▇▇,
▇▇▇▇▇▇, ▇▇▇▇▇▇ & ▇▇▇▇▇ Incorporated ("▇▇▇▇▇▇▇ ▇▇▇▇▇") and not by the issuer of
the securities. The issuer of these securities has not prepared or taken part
in the preparation of these materials. None of ▇▇▇▇▇▇▇ ▇▇▇▇▇, the issuer of
the securities nor any of their affiliates makes any representation as to the
accuracy or completeness of the information herein. The information herein is
preliminary, and will be superseded by the applicable prospectus supplement
and by any other information subsequently filed with the Securities and
Exchange Commission.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be stated therein. As such, no assurance can be given as to the
accuracy, appropriateness or completeness of the Computational Materials in
any particular context; or as to whether the Computational Materials and/or
the assumptions upon which they are based reflect present market conditions or
future market performance. The Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment assumptions and actual prepayment experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower
or faster than the rates assumed in the Computational Materials. Furthermore,
unless otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of
the securities may differ from those shown in the Computational Materials due
to differences between the actual underlying assets and the hypothetical
assets used in preparing the Computational Materials. The principal amount and
designation of any security described in the Computational Materials are
subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in these Computational Materials has been filed with the
Securities and Exchange Commission and is effective, the final prospectus
supplement relating to the securities has not been filed with the Securities
and Exchange Commission. These Computational Materials shall not constitute an
offer to sell or the solicitation of any offer to buy nor shall there be any
sale of the securities discussed in these Computational Materials in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus and prospectus
supplement relating to the securities discussed in these Computational
Materials for definitive information on any matter discussed herein. A final
prospectus and prospectus supplement may be obtained by contacting the ▇▇▇▇▇▇▇
▇▇▇▇▇ Trading Desk at (▇▇▇) ▇▇▇-▇▇▇▇.
Please be advised that asset-backed securities may not be appropriate for all
investors. Potential investors must be willing to assume, among other things,
market price volatility, prepayments, yield curve and interest rate risk.
Investors should fully consider the risk of an investment in these securities.
-------------------------------------------------------------------------------
Recipients must read the information contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement.
2
Summary of Loans in Statistical Calculation Pool
(As of Calculation Date)
Range
-----
Total Number of Loans 455
Total Outstanding Balance $136,513,830
Average Loan Balance $300,030 $38,000 to $1,430,000
WA Mortgage Rate 5.892% 4.375% to 10.250%
WA Mortgage Rate Net LPMI 5.892% 4.375% to 10.250%
Net WAC 5.510% 3.993% to 9.868%
ARM Characeristics
WA Gross Margin 2.586% 2.250% to 5.113%
WA Months to First Roll 36 36 to 36
WA First Periodic Cap 3.564% 1.000% to 6.000%
WA Subsequent Periodic Cap 1.609% 1.000% to 2.000%
WA Lifetime Cap 11.665% 9.375% to 16.250%
WA Lifetime Floor 2.586% 2.250% to 5.113%
WA Original Term (months) 360 360 to 360
WA Remaining Term (months) 360 360 to 360
WA Age (months) 0 0 to 0
WA LTV 76.16% 13.34% to 95.00%
WA FICO 717
WA DTI% 37.90%
Secured by (% of pool) 1st Liens 100.00%
2nd Liens 0.00%
Prepayment Penalty at Loan Orig 31.92%
(% of all loans)
Prepay Moves Exempted Soft 31.92%
Hard Prepay 0.00%
No Prepay 68.08%
Unknown Prepay 0.00%
Percent of IO 85.51%
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Top 5 States Top 5 Property Types Documentation
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California 50.07% Single Family Residence 61.94% Stated 58.52%
Georgia 8.40 PUD 22.17 Full 23.10
Florida 7.65 Condo 9.9 NINA 8.17
Nevada 4.39 2-4 Family 4.85 No Ratio 6.32
New York 4.14 Townhouse 1.11 No Documentation 3.89
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Top 5 States Purpose Occupancy Original Penalty
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California Purchase 64.06% Primary 87.45% None 68.08%
Georgia Refinance - Cashout 25.55 Investment 6.5712 Months 3.80
Florida Refinance - Rate Term 10.4 Second Home 5.9836 Months 28.12
Nevada
New York
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Product Types
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CURRENT # OF # OF AVERAGE GROSS REMG ORIG
Product Types BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
3/1 LIBOR Loans $3,227,604 14 2.36% $230,543 5.263% 360 702 75.73%
3/1 LIBOR Loans-IO 17,890,320 46 13.11 388,920 5.798 360 707 76.63
3/1 Treasury Loans 6,084,828 15 4.46 405,655 6.000 360 745 75.77
3/1 Treasury Loans-IO 37,797,435 94 27.69 402,100 6.101 360 729 74.74
3/6 LIBOR Loans 10,473,232 44 7.67 238,028 5.905 360 714 73.26
3/6 LIBOR Loans-IO 61,040,411 242 44.71 252,233 5.811 360 711 77.45
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Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
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Current Mortgage Loan Principal Balances
--------------------------------------------------------------------------------------------------------------------------------
Range of Current Mortgage CURRENT # OF % OF AVERAGE GROSS REMG. ORIG
Loan Principal Balances BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
--------------------------------------------------------------------------------------------------------------------------------
$0.01 to $50,000.00 $123,000 3 0.09% $41,000 6.268% 360 760 56.49%
$50,000.01 to $100,000.00 1,319,394 17 0.97 77,611 6.352 360 715 82.67
$100,000.01 to $150,000.00 9,345,041 74 6.85 126,284 5.910 360 709 78.24
$150,000.01 to $200,000.00 11,871,760 67 8.7 177,190 5.794 360 706 76.93
$200,000.01 to $250,000.00 13,846,675 61 10.14 226,995 5.853 360 706 78.57
$250,000.01 to $300,000.00 15,933,396 58 11.67 274,714 5.698 360 722 78.89
$300,000.01 to $350,000.00 14,547,856 45 10.66 323,286 5.881 360 714 75.83
$350,000.01 to $400,000.00 9,808,130 26 7.18 377,236 6.014 360 733 81.21
$400,000.01 to $450,000.00 11,498,433 27 8.42 425,868 5.959 360 718 78.65
$450,000.01 to $500,000.00 13,836,441 29 10.14 477,119 6.192 360 722 75.72
$500,000.01 to $550,000.00 6,251,281 12 4.58 520,940 5.977 360 715 75.03
$550,000.01 to $600,000.00 2,895,075 5 2.12 579,015 6.160 360 713 78.22
$600,000.01 to $650,000.00 5,128,400 8 3.76 641,050 5.717 360 734 74.15
$650,000.01 to $700,000.00 2,060,000 3 1.51 686,667 6.125 360 740 71.90
$700,000.01 to $750,000.00 2,894,449 4 2.12 723,612 5.713 360 724 73.15
$750,000.01 to $1,000,000.00 13,724,499 15 10.05 914,967 5.723 360 718 67.39
$1,000,000.01 to $1,500,000.00 1,430,000 1 1.05 1,430,000 5.875 360 686 55.00
--------------------------------------------------------------------------------------------------------------------------------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
--------------------------------------------------------------------------------------------------------------------------------
Geographic Distributions of Mortgaged Properties
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CURRENT # OF % OF AVERAGE GROSS REMG. ORIG
State BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
----------------------------------------------------------------------------------------------------------------------------------
Alabama $411,500 2 0.30% $205,750 4.911% 360 691 75.31%
Arizona 3,705,500 14 2.71 264,679 6.014 360 710 76.66
Arkansas 453,350 3 0.33 151,117 5.538 360 728 82.23
California 68,350,706 172 50.07 397,388 5.875 360 725 74.87
Colorado 1,252,436 6 0.92 208,739 5.849 360 729 77.74
Delaware 975,000 1 0.71 975,000 5.250 360 785 75.00
Florida 10,441,465 45 7.65 232,033 6.044 360 684 76.98
Georgia 11,471,825 61 8.40 188,063 5.464 360 713 82.51
Idaho 861,550 4 0.63 215,388 5.672 360 744 77.93
Illinois 1,722,500 8 1.26 215,313 6.100 360 724 79.78
Indiana 494,775 3 0.36 164,925 5.963 360 678 82.60
Iowa 62,000 1 0.05 62,000 7.250 360 741 77.50
Kentucky 211,900 1 0.16 211,900 5.500 360 667 79.99
Maryland 2,620,240 8 1.92 327,530 5.646 360 714 75.08
Massachusetts 841,000 3 0.62 280,333 5.746 360 659 51.28
Michigan 5,283,070 26 3.87 203,195 6.127 360 702 81.10
Minnesota 1,860,420 8 1.36 232,553 6.018 360 694 78.84
Mississippi 223,000 1 0.16 223,000 6.000 360 676 76.90
Missouri 226,800 3 0.17 75,600 5.671 360 718 79.72
Nebraska 66,400 1 0.05 66,400 7.375 360 721 80.00
Nevada 5,988,350 13 4.39 460,642 5.903 360 718 69.03
New Jersey 471,750 1 0.35 471,750 6.500 360 689 75.00
New Mexico 129,750 1 0.10 129,750 6.750 360 667 75.00
New York 5,650,704 14 4.14 403,622 6.003 360 710 73.94
North Carolina 891,600 4 0.65 222,900 6.116 360 734 78.15
Ohio 349,424 2 0.26 174,712 5.055 360 794 79.89
Oregon 876,800 5 0.64 175,360 5.137 360 723 76.75
Pennsylvania 270,800 2 0.20 135,400 6.288 360 741 79.73
South Carolina 150,300 1 0.11 150,300 4.500 360 731 90.00
Tennessee 637,000 2 0.47 318,500 5.617 360 704 78.56
Texas 917,814 7 0.67 131,116 5.618 360 730 82.01
Utah 208,000 1 0.15 208,000 5.375 360 723 80.00
Vermont 227,905 1 0.17 227,905 5.500 360 746 95.00
Virginia 4,657,500 14 3.41 332,679 6.073 360 714 76.00
Washington 2,943,097 13 2.16 226,392 7.208 360 709 81.86
Wisconsin 607,600 3 0.45 202,533 5.834 360 759 79.90
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Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
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Property Type
-----------------------------------------------------------------------------------------------------------------------------------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Property Type BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Single Family Residence $84,560,265 273 61.94% $309,745 5.932% 360 719 75.11%
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
PUD 30,259,939 110 22.17 275,090 5.770 360 707 79.01
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Condo 13,552,677 54 9.93 250,976 5.874 360 727 78.84
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
2-4 Family 6,619,450 15 4.85 441,297 6.010 360 717 72.14
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Townhouse 1,521,500 3 1.11 507,167 5.749 360 762 71.35
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
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Loan Purpose
-----------------------------------------------------------------------------------------------------------------------------------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan Purpose BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Purchase $87,443,986 301 64.06% $290,512 5.977% 360 723 79.35%
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Refinance - Cashout 34,874,126 114 25.55 305,913 5.817 360 702 70.86
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Refinance - Rate Term 14,195,719 40 10.40 354,893 5.557 360 722 69.46
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
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Occupancy
-----------------------------------------------------------------------------------------------------------------------------------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Occupancy BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Primary $119,378,040 380 87.45% $314,153 5.831% 360 718 76.34%
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Investment 8,973,026 39 6.57 230,078 6.581 360 724 71.94
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Second Home 8,162,765 36 5.98 226,743 6.036 360 692 78.14
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
------------------------------------------- -------------------- --------- ------------ --------- --------------- ------- ---------
Remaining Months to Scheduled Maturity
----------------------------------------------------------------------------------------------------------------------------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Remaining Months CURRENT # OF % OF AVERAGE GROSS REMG ORIG
to Scheduled Maturity BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
360 $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
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Documentation
----------------------------------------------------------------------------------------------------------------------------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Documentation BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Stated $79,883,768 259 58.52% $308,432 5.911% 360 721 76.71%
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Full 31,538,447 107 23.10 294,752 5.578 360 715 77.32
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
▇▇▇▇ 11,157,250 50 8.17 223,145 6.182 360 694 77.12
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
No Ratio 8,625,415 19 6.32 453,969 6.110 360 711 72.34
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
No Documentation 5,308,950 20 3.89 265,448 6.508 360 732 65.14
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
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Credit Scores
----------------------------------------------------------------------------------------------------------------------------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Range of CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Credit Scores BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
601 to 620 $4,175,600 22 3.06% $189,800 6.358% 360 620 75.84%
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
621 to 640 5,412,350 18 3.96 300,686 6.035 360 630 75.50
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
641 to 660 7,260,137 26 5.32 279,236 5.824 360 652 77.28
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
661 to 680 12,365,395 43 9.06 287,567 5.962 360 670 75.94
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
681 to 700 18,797,519 60 13.77 313,292 5.825 360 691 74.80
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
701 to 720 22,302,009 67 16.34 332,866 5.932 360 711 78.15
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
721 to 740 20,651,202 74 15.13 279,070 5.718 360 730 76.49
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
741 to 760 17,176,586 56 12.58 306,725 6.077 360 750 76.20
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
761 to 780 15,987,402 51 11.71 313,478 5.945 360 771 75.31
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
781 to 800 11,244,126 33 8.24 340,731 5.617 360 789 74.78
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
801 to 820 1,141,504 5 0.84 228,301 5.873 360 806 77.66
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------- --------------- -------- --------- ------------ --------- --------------- ------- ---------
Original Prepayment Penalty Term
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Original Prepayment Penalty Term CURRENT # OF LOANS % OF AVERAGE GROSS REMG TERM FICO ORIG
BALANCE TOTAL BALANCE WAC LTV
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
None $92,937,328 311 68.08% $298,834 5.831% 360 720 75.64%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
12 Months 5,185,784 12 3.80 432,149 6.431 360 724 76.38
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
36 Months 38,390,718 132 28.12 290,839 5.968 360 710 77.36
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------------------------------------------------------------------------------------------------
80% LTV - PMI Analysis
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
80% LTV - PMI Analysis BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
>80% LTV, with MI $10,450,364 54 100.00% $193,525 6.174% 360 695 90.76%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Total: $10,450,364 54 100.00% $193,525 6.174% 360 695 90.76%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------------------------------------------------------------------------------------------------
Months to Roll
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Months to Roll BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
36 $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------------------------------------------------------------------------------------------------
Gross Margins
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of Gross Margins BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
2.001% to 2.500% $76,024,130 267 55.69% $284,735 5.685% 360 718 76.40%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
2.501% to 3.000% 48,441,472 133 35.48 364,222 6.135 360 727 75.22
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
3.001% to 3.500% 3,167,850 16 2.32 197,991 6.509 360 695 83.58
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
3.501% to 4.000% 3,763,184 19 2.76 198,062 6.258 360 638 73.20
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
4.001% to 4.500% 1,628,556 8 1.19 203,570 5.924 360 684 78.23
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
4.501% to 5.000% 2,933,422 9 2.15 325,936 6.038 360 679 79.16
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
5.001% to 5.500% 555,216 3 0.41 185,072 6.220 360 699 80.00
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------------------------------------------------------------------------------------------------
Maximum Mortgage Rates
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Range of Maximum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
9.001% to 9.500% $834,600 5 0.61% $166,920 4.473% 360 669 79.77%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
9.501% to 10.000% 5,442,315 24 3.99 226,763 4.809 360 728 77.61
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
10.001% to 10.500% 8,990,426 44 6.59 204,328 5.176 360 711 78.86
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
10.501% to 11.000% 15,092,696 55 11.06 274,413 5.555 360 705 74.63
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
11.001% to 11.500% 26,946,689 88 19.74 306,212 5.584 360 724 75.53
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
11.501% to 12.000% 39,678,737 114 29.07 348,059 5.939 360 716 74.82
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
12.001% to 12.500% 25,269,523 71 18.51 355,909 6.321 360 721 76.57
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
12.501% to 13.000% 9,436,031 35 6.91 269,601 6.633 360 724 79.63
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
13.001% to 13.500% 2,928,992 11 2.15 266,272 6.757 360 700 79.38
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
13.501% to 14.000% 877,022 4 0.64 219,256 6.800 360 661 77.73
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
14.001% to 14.500% 200,000 1 0.15 200,000 8.125 360 755 80.00
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
15.501% to 16.000% 336,800 2 0.25 168,400 9.875 360 746 80.00
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
16.001% to 16.500% 480,000 1 0.35 480,000 10.250 360 746 80.00
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------------------------------------------------------------------------------------------------
Next Rate Adjustment Date
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Next Rate CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Adjustment Date BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
September 2008 $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
---------------------------------------- -------------- ----------- --------- ------------ --------- ---------- ------- ---------
Initial Fixed Period
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Fixed Period BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
36 $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Minimum Mortgage Rates
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Range of Minimum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.001% to 2.500% $76,024,130 267 55.69% $284,735 5.685% 360 718 76.40%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.501% to 3.000% 48,441,472 133 35.48 364,222 6.135 360 727 75.22
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
3.001% to 3.500% 3,167,850 16 2.32 197,991 6.509 360 695 83.58
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
3.501% to 4.000% 3,763,184 19 2.76 198,062 6.258 360 638 73.20
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
4.001% to 4.500% 1,628,556 8 1.19 203,570 5.924 360 684 78.23
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
4.501% to 5.000% 2,933,422 9 2.15 325,936 6.038 360 679 79.16
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
5.001% to 5.500% 555,216 3 0.41 185,072 6.220 360 699 80.00
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Initial Cap
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
1.000% $5,632,800 33 4.13% $170,691 6.638% 360 654 82.33%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.000% 21,738,942 94 15.92 231,265 5.363 360 709 77.76
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
3.000% 71,565,298 221 52.42 323,825 6.058 360 722 75.68
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
5.000% 2,694,750 6 1.97 449,125 5.956 360 747 78.27
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
6.000% 34,882,041 101 25.55 345,367 5.755 360 722 74.97
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Subsequent Cap
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Subsequent Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
1.000% $53,423,097 219 39.13% $243,941 5.862% 360 706 77.54%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.000% 83,090,733 236 60.87 352,079 5.912 360 725 75.27
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
DTI
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of DTI BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
No DTI $23,906,415 85 17.51% $281,252 6.273% 360 708 72.83%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
0.01% to 5.00% 565,000 2 0.41 282,500 6.259 360 712 66.62
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
10.01% to 15.00% 855,050 5 0.63 171,010 6.215 360 671 76.97
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
15.01% to 20.00% 2,369,000 8 1.74 296,125 6.189 360 716 71.23
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
20.01% to 25.00% 4,442,424 12 3.25 370,202 5.912 360 723 66.44
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
25.01% to 30.00% 7,334,121 27 5.37 271,634 5.972 360 708 77.23
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
30.01% to 35.00% 17,870,129 55 13.09 324,911 5.784 360 729 77.04
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
35.01% to 40.00% 30,548,857 95 22.38 321,567 5.750 360 723 77.43
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
40.01% to 45.00% 33,554,997 111 24.58 302,297 5.821 360 724 77.01
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
45.01% to 50.00% 13,970,587 51 10.23 273,933 5.750 360 698 79.19
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
50.01% to 55.00% 458,400 2 0.34 229,200 5.414 360 735 79.95
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
55.01% or greater 638,850 2 0.47 319,425 5.741 360 685 81.84
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $136,513,830 455 100.00% $300,030 5.892% 360 717 76.16%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
[GRAPHIC OMITTED] COMPUTATIONAL MATERIALS FOR
▇▇▇▇▇▇▇ ▇▇▇▇▇ INDX 2005-AR23
RMBS New Transaction
IndyMac INDX Mortgage Loan Trust 2005-AR23
Computational Materials
$[1,110,000,000] (approximate)
IndyMac MBS, Inc.
Depositor
[GRAPHIC OMITTED] Indy Mac Bank
Seller and Master Servicer
August [18], 2005
-------------------------------------------------------------------------------
Recipients must read the information contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement.
1
[GRAPHIC OMITTED] COMPUTATIONAL MATERIALS FOR
▇▇▇▇▇▇▇ ▇▇▇▇▇ INDX 2005-AR23
IMPORTANT NOTICES
This document and the information contained herein (the "Computational
Materials") are confidential and may not be used by or disclosed to any person
other than the person to whom they were originally delivered and such person's
legal, tax, financial and/or accounting advisors. If you have received these
Computational Materials in error, please notify the sending party immediately
by telephone and return the original to such party by mail. Notwithstanding
the foregoing, except to the extent necessary to comply with applicable
securities laws, any recipient of these Computational Materials may disclose
to any and all persons, without limitation of any kind, the federal income tax
treatment and tax structure of the securities described herein, any fact
relevant to understanding the federal tax treatment or tax structure of the
issuer or the securities, and all materials of any kind relating to such
federal tax treatment and structure, other than the identity of the issuer and
information that would permit the identification of the issuer.
These Computational Materials are furnished to you solely by ▇▇▇▇▇▇▇ ▇▇▇▇▇,
▇▇▇▇▇▇, ▇▇▇▇▇▇ & ▇▇▇▇▇ Incorporated ("▇▇▇▇▇▇▇ ▇▇▇▇▇") and not by the issuer of
the securities. The issuer of these securities has not prepared or taken part
in the preparation of these materials. None of ▇▇▇▇▇▇▇ ▇▇▇▇▇, the issuer of
the securities nor any of their affiliates makes any representation as to the
accuracy or completeness of the information herein. The information herein is
preliminary, and will be superseded by the applicable prospectus supplement
and by any other information subsequently filed with the Securities and
Exchange Commission.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be stated therein. As such, no assurance can be given as to the
accuracy, appropriateness or completeness of the Computational Materials in
any particular context; or as to whether the Computational Materials and/or
the assumptions upon which they are based reflect present market conditions or
future market performance. The Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment assumptions and actual prepayment experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower
or faster than the rates assumed in the Computational Materials. Furthermore,
unless otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of
the securities may differ from those shown in the Computational Materials due
to differences between the actual underlying assets and the hypothetical
assets used in preparing the Computational Materials. The principal amount and
designation of any security described in the Computational Materials are
subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in these Computational Materials has been filed with the
Securities and Exchange Commission and is effective, the final prospectus
supplement relating to the securities has not been filed with the Securities
and Exchange Commission. These Computational Materials shall not constitute an
offer to sell or the solicitation of any offer to buy nor shall there be any
sale of the securities discussed in these Computational Materials in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus and prospectus
supplement relating to the securities discussed in these Computational
Materials for definitive information on any matter discussed herein. A final
prospectus and prospectus supplement may be obtained by contacting the ▇▇▇▇▇▇▇
▇▇▇▇▇ Trading Desk at (▇▇▇) ▇▇▇-▇▇▇▇.
Please be advised that asset-backed securities may not be appropriate for all
investors. Potential investors must be willing to assume, among other things,
market price volatility, prepayments, yield curve and interest rate risk.
Investors should fully consider the risk of an investment in these securities.
-------------------------------------------------------------------------------
Recipients must read the information contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement.
2
Summary of Loans in Statistical Calculation Pool
(As of Calculation Date)
Range
-----
Total Number of Loans 1,456
Total Outstanding Balance $316,456,088
Average Loan Balance $217,346 $43,000 to $359,650
WA Mortgage Rate 5.997% 3.625% to 8.000%
WA Mortgage Rate Net LPMI 5.997% 3.625% to 8.000%
Net WAC 5.614% 3.243% to 7.618%
ARM Characeristics
WA Gross Margin 2.520% 2.250% to 5.363%
WA Months to First Roll 60 60 to 60
WA First Periodic Cap 5.035% 1.000% to 6.000%
WA Subsequent Periodic Cap 1.556% 1.000% to 2.000%
WA Lifetime Cap 11.600% 9.375% to 14.000%
WA Lifetime Floor 2.520% 2.250% to 5.363%
WA Original Term (months) 360 360 to 360
WA Remaining Term (months) 360 360 to 360
WA Age (months) 0 0 to 0
WA LTV 75.68% 19.63% to 95.00%
WA FICO 722
WA DTI% 36.69%
Secured by (% of pool) 1st Liens 100.00%
2nd Liens 0.00%
Prepayment Penalty at Loan Orig (% of 18.88%
all loans)
Prepay Moves Exempted Soft 18.88%
Hard Prepay 0.00%
No Prepay 81.12%
Unknown Prepay 0.00%
Percent of IO 87.99%
------------------------------------------------------------------------------------------------------------------------------------
Top 5 States Top 5 Property Types Documentation Purpose Occupancy Original Penalty
------------------------------------------------------------------------------------------------------------------------------------
California 31.28 Single Family 59.14% Stated 61.95% Purchase 61.27% Primary 87.78% None 81.12%
Florida 10.96 PUD 19.30 Full 13.40 Refinance - Cashout 29.10 Investment 11.34 12 Months 0.85
Maryland 6.00 Condo 15.64 No Doc 11.55 Refinance - Rate Term 9.64 Second Home 7.88 24 Months 0.06
Georgia 5.35 2-4 Family 4.12 No Ratio 7.01 36 Months 17.96
Virginia 4.56 Townhouse 1.58 NINA 5.95
------------------------------------------------------------------------------------------------------------------------------------
Product Types
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Product Types BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
------------------------------------------------------------------------------------------------------------------
5/1 LIBOR Loans $4,980,275 27 1.57% $184,455 5.686% 360 725 70.71%
5/1 LIBOR Loans-IO 11,477,040 53 3.63 216,548 5.898 360 734 77.12
5/1 Treasury Loans 7,825,213 36 2.47 217,367 5.852 360 730 69.49
5/1 Treasury Loans-IO 115,637,505 496 36.54 233,140 6.070 360 728 74.70
5/6 LIBOR Loans 25,185,410 140 7.96 179,896 6.011 360 716 76.88
5/6 LIBOR Loans-IO 151,350,645 704 47.83 214,987 5.964 360 718 76.61
------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
------------------------------------------------------------------------------------------------------------------
Current Mortgage Loan Principal Balances
-------------------------------------------------------------------------------------------------------------------
Range of Current Mortgage CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan Principal Balances BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
$0.01 to $50,000.00 $324,530 7 0.10% $46,361 6.545% 360 717 69.33%
$50,000.01 to $100,000.00 6,368,292 77 2.01 82,705 6.207 360 710 76.85
$100,000.01 to $150,000.00 32,471,230 254 10.26 127,839 6.107 360 720 76.67
$150,000.01 to $200,000.00 53,498,272 303 16.91 176,562 6.014 360 724 75.19
$200,000.01 to $250,000.00 66,783,578 296 21.1 225,620 6.062 360 718 76.59
$250,000.01 to $300,000.00 75,569,331 273 23.88 276,811 5.968 360 724 75.38
$300,000.01 to $350,000.00 64,280,344 198 20.31 324,648 5.911 360 725 75.39
$350,000.01 to $400,000.00 17,160,511 48 5.42 357,511 5.840 360 727 73.92
-------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Geographic Distributions of Mortgaged Properties
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
State BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
Alabama $762,950 5 0.24% $152,590 6.258% 360 702 79.08%
Arizona 12,030,836 61 3.80 197,227 6.124 360 723 77.46
California 98,977,715 368 31.28 268,961 5.881 360 730 72.68
Colorado 13,460,856 66 4.25 203,952 5.836 360 720 77.62
Connecticut 1,509,500 7 0.48 215,643 6.038 360 716 65.48
Delaware 544,800 2 0.17 272,400 6.560 360 705 62.00
District of Columbia 1,703,600 7 0.54 243,371 6.306 360 704 74.93
Florida 34,671,041 181 10.96 191,553 6.146 360 719 78.83
Georgia 16,930,886 97 5.35 174,545 5.780 360 714 80.57
Hawaii 936,500 4 0.30 234,125 6.014 360 721 60.69
Idaho 558,950 4 0.18 139,738 5.925 360 757 76.90
Illinois 11,462,145 55 3.62 208,403 6.063 360 716 77.66
Indiana 804,300 4 0.25 201,075 6.228 360 686 81.20
Iowa 171,940 1 0.05 171,940 6.500 360 732 95.00
Kansas 330,360 2 0.10 165,180 5.740 360 753 80.00
Louisiana 577,750 3 0.18 192,583 6.357 360 710 88.96
Maine 368,800 2 0.12 184,400 6.427 360 679 73.18
Maryland 18,983,755 81 6.00 234,367 6.144 360 707 76.84
Massachusetts 5,780,020 23 1.83 251,305 6.054 360 720 73.65
Michigan 7,337,647 40 2.32 183,441 6.045 360 707 80.98
Minnesota 9,953,017 50 3.15 199,060 5.852 360 725 78.64
Mississippi 325,276 4 0.10 81,319 6.206 360 746 87.25
Missouri 4,670,170 32 1.48 145,943 6.036 360 719 77.37
Montana 206,400 1 0.07 206,400 5.875 360 759 80.00
Nebraska 66,500 1 0.02 66,500 5.875 360 742 57.83
Nevada 12,808,209 56 4.05 228,718 6.165 360 715 75.27
New Hampshire 827,170 4 0.26 206,793 5.818 360 728 69.69
New Jersey 9,025,492 37 2.85 243,932 6.016 360 722 73.21
New Mexico 589,569 3 0.19 196,523 6.341 360 741 77.56
New York 7,055,800 27 2.23 261,326 6.187 360 728 64.58
North Carolina 2,978,949 20 0.94 148,947 5.902 360 723 78.55
North Dakota 94,800 1 0.03 94,800 6.250 360 740 80.00
Ohio 1,367,758 10 0.43 136,776 6.152 360 723 72.63
Oklahoma 259,600 3 0.08 86,533 6.905 360 761 80.75
Oregon 3,784,116 20 1.20 189,206 5.928 360 735 76.54
Pennsylvania 1,142,400 8 0.36 142,800 6.444 360 752 78.88
Rhode Island 545,650 3 0.17 181,883 5.876 360 723 77.05
South Carolina 871,943 7 0.28 124,563 6.123 360 695 86.44
South Dakota 225,400 2 0.07 112,700 5.500 360 764 70.00
Tennessee 1,035,655 6 0.33 172,609 6.360 360 703 84.12
Texas 3,019,440 20 0.95 150,972 5.978 360 714 76.77
Utah 1,611,620 11 0.51 146,511 6.154 360 736 77.73
Virginia 14,426,237 58 4.56 248,728 6.102 360 727 75.84
Washington 9,926,151 47 3.14 211,195 5.935 360 723 78.27
West Virginia 318,000 2 0.10 159,000 6.564 360 701 80.00
Wisconsin 1,194,815 9 0.38 132,757 6.243 360 730 81.01
Wyoming 221,600 1 0.07 221,600 5.875 360 755 80.00
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Original Loan-to-Value Ratios
-------------------------------------------------------------------------------------------------------------------
Range of Original CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan-to-Value Ratios BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
0.01% to 50.00% $13,811,085 65 4.36% $212,478 5.723% 360 734 39.21%
50.01% to 55.00% 7,395,541 32 2.34 231,111 5.723 360 720 52.75
55.01% to 60.00% 9,358,942 41 2.96 228,267 5.713 360 736 58.20
60.01% to 65.00% 19,495,502 85 6.16 229,359 5.763 360 724 63.51
65.01% to 70.00% 18,335,143 88 5.79 208,354 5.901 360 719 68.68
70.01% to 75.00% 17,500,147 77 5.53 227,275 5.923 360 723 73.61
75.01% to 80.00% 204,062,149 930 64.48 219,422 6.030 360 723 79.76
80.01% to 85.00% 4,028,865 22 1.27 183,130 6.274 360 730 84.61
85.01% to 90.00% 10,732,516 54 3.39 198,750 6.323 360 705 89.39
90.01% to 95.00% 11,736,198 62 3.71 189,294 6.400 360 710 94.74
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Current Mortgage Rates
-------------------------------------------------------------------------------------------------------------------
Range of Current CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
3.501% to 4.000% $359,600 1 0.11% $359,600 3.625% 360 756 71.92%
4.001% to 4.500% 134,450 1 0.04 134,450 4.375 360 759 79.98
4.501% to 5.000% 6,536,972 31 2.07 210,870 4.928 360 730 76.76
5.001% to 5.500% 54,808,185 236 17.32 232,238 5.386 360 734 72.00
5.501% to 6.000% 133,507,147 604 42.19 221,038 5.826 360 726 73.92
6.001% to 6.500% 76,027,175 351 24.02 216,602 6.302 360 716 78.22
6.501% to 7.000% 36,230,216 183 11.45 197,979 6.796 360 711 80.73
7.001% to 7.500% 7,007,475 39 2.21 179,679 7.278 360 703 80.51
7.501% to 8.000% 1,844,868 10 0.58 184,487 7.785 360 691 86.86
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Property Type
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Property Type BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
Single Family Residence $187,150,049 861 59.14% $217,364 6.001% 360 722 74.89%
PUD 61,063,332 273 19.30 223,675 5.910 360 722 77.55
Condo 49,492,699 238 15.64 207,953 6.018 360 726 77.98
2-4 Family 13,029,843 53 4.12 245,846 6.188 360 724 70.03
Townhouse 5,007,885 25 1.58 200,315 6.134 360 716 74.71
Other 562,280 5 0.18 112,456 6.305 360 710 74.14
Unknown 150,000 1 0.05 150,000 7.000 360 801 75.00
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Loan Purpose
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan Purpose BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
Purchase $193,877,902 896 61.27% $216,382 6.055% 360 728 79.25%
Refinance - Cashout 92,085,917 411 29.10 224,053 5.927 360 714 69.07
Refinance - Rate Term 30,492,269 149 9.64 204,646 5.840 360 712 72.94
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Occupancy
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Occupancy BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
Occupancy $265,131,033 1,182 83.78% $224,307 5.955% 360 722 76.36%
Investment 35,878,169 198 11.34 181,203 6.293 360 720 71.07
Second Home 15,446,886 76 4.88 203,249 6.022 360 728 74.70
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Remaining Months to Scheduled Maturity
-------------------------------------------------------------------------------------------------------------------
Remaining Months CURRENT # OF % OF AVERAGE GROSS REMG ORIG
to Scheduled Maturity BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
360 $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
-------------------------------------------------------------------------------------------------------------------
Documentation
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Documentation BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
Stated $196,029,772 874 61.95% $224,290 5.995% 360 723 76.61%
Full 42,416,809 210 13.40 201,985 5.716 360 725 78.76
No Documentation 36,541,837 171 11.55 213,695 6.111 360 725 67.79
No Ratio 22,197,982 102 7.01 217,627 6.213 360 713 74.73
No Income/No Asset 18,819,188 96 5.95 196,033 6.163 360 717 75.30
Limited 450,500 3 0.14 150,167 6.603 360 740 84.17
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------
Credit Scores
-------------------------------------------------------------------------------------------------------------------
Range of CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Credit Scores BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
601 to 620 $976,200 5 0.31% $195,240 6.959% 360 620 78.09%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
621 to 640 3,443,280 18 1.09 191,293 6.552 360 633 79.03
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
641 to 660 11,377,044 58 3.60 196,156 6.031 360 652 78.61
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
661 to 680 32,926,895 155 10.40 212,432 6.137 360 673 75.33
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
681 to 700 54,487,136 251 17.22 217,080 6.119 360 691 76.01
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
701 to 720 52,507,662 246 16.59 213,446 6.025 360 710 75.29
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
721 to 740 54,637,049 252 17.27 216,814 5.959 360 730 77.22
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
741 to 760 44,108,540 190 13.94 232,150 5.859 360 751 76.50
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
761 to 780 35,015,003 161 11.06 217,484 5.871 360 770 74.26
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
781 to 800 21,840,560 95 6.90 229,901 5.888 360 788 72.73
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
801 to 820 5,136,719 25 1.62 205,469 5.803 360 809 68.20
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
Original Prepayment Penalty Term
-------------------------------------------------------------------------------------------------------------------
Original Prepayment CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Penalty Term BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
None $256,723,510 1,182 81.12% $217,194 6.013% 360 722 76.15%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
12 Months 2,705,470 10 0.85 270,547 5.902 360 720 73.66
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
24 Months 191,000 1 0.06 191,000 5.375 360 690 46.59
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
36 Months 56,836,108 263 17.96 216,107 5.933 360 724 73.75
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
80% LTV - PMI Analysis
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
80T LTV - PMI Analysis BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
>80% LTV, with MI $26,497,579 138 100.00%$192,011 6.350% 360 711 91.03%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $26,497,579 138 100.00%$192,011 6.350% 360 711 91.03%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Months to Roll
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Months to Roll BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
60 1,456 100.00%$217,346 5.997% 360 722 75.68%
$316,456,088
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: 1,456 100.00%$217,346 5.997% 360 722 75.68%
$316,456,088
--------------------------------------------------------------------------------------------------------------------------------
Gross Margins
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of Gross Margins BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
2.001% to 2.500% $153,368,197 746 48.46% $205,587 5.882% 360 718 76.84%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
2.501% to 3.000% 159,280,161 690 50.33 230,841 6.100 360 728 74.37
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
3.001% to 3.500% 1,928,520 11 0.61 175,320 6.769 360 674 88.63
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
3.501% to 4.000% 1,019,050 4 0.32 254,763 5.602 360 706 78.17
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
4.001% to 4.500% 232,000 1 0.07 232,000 5.500 360 773 80.00
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
4.501% to 5.000% 288,960 2 0.09 144,480 6.262 360 685 80.00
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
5.001% to 5.500% 339,200 2 0.11 169,600 6.613 360 734 80.00
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
Maximum Mortgage Rates
-------------------------------------------------------------------------------------------------------------------
Range of Maximum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
0.000% or less $149,150 1 0.05% $149,150 7.375% 360 707 95.00%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
9.001% to 9.500% 134,450 1 0.04 134,450 4.375 360 759 79.98
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
9.501% to 10.000% 4,598,564 22 1.45 209,026 4.809 360 736 77.68
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
10.001% to 10.500% 24,738,562 121 7.82 204,451 5.379 360 727 74.65
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
10.501% to 11.000% 63,102,405 307 19.94 205,545 5.807 360 723 76.25
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
11.001% to 11.500% 50,460,301 217 15.95 232,536 5.781 360 723 74.46
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
11.501% to 12.000% 84,414,617 371 26.67 227,533 5.965 360 722 73.35
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
12.001% to 12.500% 56,748,097 256 17.93 221,672 6.305 360 720 77.20
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
12.501% to 13.000% 24,903,399 121 7.87 205,813 6.771 360 720 80.29
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
13.001% to 13.500% 5,746,725 31 1.82 185,378 7.249 360 717 79.75
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
13.501% to 14.000% 1,459,818 8 0.46 182,477 7.678 360 719 83.51
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
Next Rate Adjustment Date
-------------------------------------------------------------------------------------------------------------------
Next Rate CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Adjustment Date BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
September 2010 1,456 100.00%$217,346 5.997% 360 722 75.68%
$316,456,088
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: 1,456 100.00%$217,346 5.997% 360 722 75.68%
$316,456,088
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Initial Fixed Period
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Fixed Period BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
60 1,456 100.00%$217,346 5.997% 360 722 75.68%
$316,456,088
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: 1,456 100.00%$217,346 5.997% 360 722 75.68%
$316,456,088
--------------------------------------------------------------------------------------------------------------------------------
Minimum Mortgage Rates
-------------------------------------------------------------------------------------------------------------------
Range of Minimum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
2.001% to 2.500% $153,368,197 746 48.46% $205,587 5.882% 360 718 76.84%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
2.501% to 3.000% 159,280,161 690 50.33 230,841 6.100 360 728 74.37
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
3.001% to 3.500% 1,928,520 11 0.61 175,320 6.769 360 674 88.63
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
3.501% to 4.000% 1,019,050 4 0.32 254,763 5.602 360 706 78.17
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
4.001% to 4.500% 232,000 1 0.07 232,000 5.500 360 773 80.00
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
4.501% to 5.000% 288,960 2 0.09 144,480 6.262 360 685 80.00
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
5.001% to 5.500% 339,200 2 0.11 169,600 6.613 360 734 80.00
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
Initial Cap
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
0.000% $149,150 1 0.05% $149,150 7.375% 360 707 95.00%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
1.000% 511,500 3 0.16 170,500 5.355 360 725 66.80
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
2.000% 3,861,525 18 1.22 214,529 5.816 360 727 77.57
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
3.000% 1,935,480 9 0.61 215,053 5.757 360 707 77.39
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
5.000% 280,594,009 1,293 88.67 217,010 6.026 360 722 75.78
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
6.000% 29,404,424 132 9.29 222,761 5.767 360 724 74.45
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
Subsequent Cap
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Subsequent Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
0.000% $149,150 1 0.05% $149,150 7.375% 360 707 95.00%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
1.000% 140,346,791 680 44.35 206,392 6.004 360 716 76.95
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
2.000% 175,960,147 775 55.60 227,045 5.990 360 728 74.65
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
DTI
-------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of DTI BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------
Not Available $74,617,850 354 23.58% $210,785 6.158% 360 719 71.58%
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
0.01% to 5.00% 2,808,607 11 0.89 255,328 5.981 360 731 63.32
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
5.01% to 10.00% 1,141,800 6 0.36 190,300 6.020 360 695 55.41
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
10.01% to 15.00% 1,972,400 11 0.62 179,309 5.891 360 726 68.00
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
15.01% to 20.00% 3,880,276 21 1.23 184,775 5.939 360 728 77.68
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
20.01% to 25.00% 13,811,713 74 4.36 186,645 5.990 360 734 75.33
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
25.01% to 30.00% 22,334,611 108 7.06 206,802 6.040 360 719 78.09
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
30.01% to 35.00% 34,398,775 162 10.87 212,338 5.888 360 724 76.63
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
35.01% to 40.00% 64,263,333 286 20.31 224,697 5.977 360 725 77.53
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
40.01% to 45.00% 73,465,139 319 23.21 230,298 5.950 360 722 78.25
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
45.01% to 50.00% 22,047,084 95 6.97 232,075 5.814 360 723 75.44
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
50.01% to 55.00% 1,323,500 7 0.42 189,071 6.029 360 730 67.58
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
55.01% or greater 391,000 2 0.12 195,500 6.063 360 657 71.93
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Total: $316,456,088 1,456 100.00% $217,346 5.997% 360 722 75.68%
--------------------------------------------------------------------------------------------------------------------------------
[GRAPHIC OMITTED][GRAPHIC OMITTED]
RMBS New Transaction
IndyMac INDX Mortgage Loan Trust 2005-AR23
Computational Materials
$[1,110,000,000] (approximate)
IndyMac MBS, Inc.
Depositor
[GRAPHIC OMITTED][GRAPHIC OMITTED]
August [18], 2005
-------------------------------------------------------------------------------
Recipients must read the information contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement.
[OBJECT OMITTED] COMPUTATIONAL MATERIAL FOR
▇▇▇▇▇▇▇ ▇▇▇▇▇ INDEX 2005-AR23
-------------------------------------------------------------------------------
IMPORTANT NOTICES
This document and the information contained herein (the "Computational
Materials") are confidential and may not be used by or disclosed to any person
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to any and all persons, without limitation of any kind, the federal income tax
treatment and tax structure of the securities described herein, any fact
relevant to understanding the federal tax treatment or tax structure of the
issuer or the securities, and all materials of any kind relating to such
federal tax treatment and structure, other than the identity of the issuer and
information that would permit the identification of the issuer.
These Computational Materials are furnished to you solely by ▇▇▇▇▇▇▇ ▇▇▇▇▇,
▇▇▇▇▇▇, ▇▇▇▇▇▇ & ▇▇▇▇▇ Incorporated ("▇▇▇▇▇▇▇ ▇▇▇▇▇") and not by the issuer of
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the securities nor any of their affiliates makes any representation as to the
accuracy or completeness of the information herein. The information herein is
preliminary, and will be superseded by the applicable prospectus supplement
and by any other information subsequently filed with the Securities and
Exchange Commission.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be stated therein. As such, no assurance can be given as to the
accuracy, appropriateness or completeness of the Computational Materials in
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the assumptions upon which they are based reflect present market conditions or
future market performance. The Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment assumptions and actual prepayment experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower
or faster than the rates assumed in the Computational Materials. Furthermore,
unless otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of
the securities may differ from those shown in the Computational Materials due
to differences between the actual underlying assets and the hypothetical
assets used in preparing the Computational Materials. The principal amount and
designation of any security described in the Computational Materials are
subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in these Computational Materials has been filed with the
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supplement relating to the securities has not been filed with the Securities
and Exchange Commission. These Computational Materials shall not constitute an
offer to sell or the solicitation of any offer to buy nor shall there be any
sale of the securities discussed in these Computational Materials in any state
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Prospective purchasers are referred to the final prospectus and prospectus
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Materials for definitive information on any matter discussed herein. A final
prospectus and prospectus supplement may be obtained by contacting the ▇▇▇▇▇▇▇
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Please be advised that asset-backed securities may not be appropriate for all
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Investors should fully consider the risk of an investment in these securities.
_______________________________________________________________________________
Recipients must read ~ the information ~ contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement.
2
Summary of Loans in Statistical Calculation Pool
(As of Calculation Date)
Range
------
Total Number of Loans 455
Total Outstanding Balance $255,368,663
Average Loan Balance $561,250 $360,000 to $3,500,000
WA Mortgage Rate 5.878% 4.000% to 8.000%
WA Mortgage Rate Net LPMI 5.878% 4.000% to 8.000%
Net WAC 5.495% 3.618% to 7.618%
ARM Characeristics
WA Gross Margin 2.446% 2.250% to 4.710%
WA Months to First Roll 60 60 to 120
WA First Periodic Cap 5.120% 2.000% to 6.000%
WA Subsequent Periodic Cap 1.692% 1.000% to 2.000%
WA Lifetime Cap 11.549% 9.250% to 14.000%
WA Lifetime Floor 2.446% 2.250% to 4.710%
WA Original Term (months) 360 360 to 360
WA Remaining Term (months) 360 360 to 360
WA Age (months) 0 0 to 0
WA LTV 71.89% 27.79% to 95.00%
WA FICO 724
WA DTI% 36.96%
Secured by (% of pool) 1st Liens 100.00%
2nd Liens 0.00%
Prepayment Penalty at Loan Orig 31.70%
(% of all loans)
Prepay Moves Exempted Soft 31.70%
Hard Prepay 0.00%
No Prepay 68.30%
Unknown Prepay 0.00%
Percent of IO 87.26%
--------------------------------------------------------------------------------------------------------------------
Top 5 States Top 5Property Types Documentation Purpose
--------------------------------------------------------------------------------------------------------------------
California 51.56% Single Family Residence 62.91% Stated 55.59% Purchase 51.42
Florida 11.41 PUD 21.56 Full 27.65 Refinance - Cashout 32.79
Virginia 5.00 Condo 7.37 No Ratio 8.94 Refinance - Rate Term 15.79
Maryland 3.75 2-4 Family 7.33 No Documentation
Arizona 3.09 Townhouse 0.84 NINA 3.28
--------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------
Top 5 States Occupancy Original Penalty
-----------------------------------------------------------------
California 51.56% Primary 82.84% None 68.30%
Florida 11.41 Investmen 9.03 12 Months 1.50
Virginia 5.00 Second Home 8.13 24 Months 0.43
Maryland 3.75 36 Months 29.78
Arizona 3.09
-------------------------------------------------------------------
Product Types
-------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Product Types BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------
3/1 LIBOR Loans $508,000 1 0.20% $508,000 6.125% 360 687 80.00%
-------------------------------------------------------------------------------------------------------------
5/1 LIBOR Loans 7,703,700 14 3.02 550,264 5.353 360 740 61.90
-------------------------------------------------------------------------------------------------------------
5/1 LIBOR Loans-IO 35,441,131 71 13.88 499,171 5.879 360 722 73.63
-------------------------------------------------------------------------------------------------------------
5/1 Treasury Loans 14,371,850 20 5.63 718,593 5.862 360 720 65.53
-------------------------------------------------------------------------------------------------------------
5/1 Treasury Loans-IO 56,566,598 96 22.15 589,235 5.942 360 724 72.81
-------------------------------------------------------------------------------------------------------------
5/6 LIBOR Loans 10,446,983 19 4.09 549,841 5.876 360 731 72.68
-------------------------------------------------------------------------------------------------------------
5/6 LIBOR Loans-IO 130,330,400 234 51.04 556,968 5.881 360 723 72.22
-------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------
Current Mortgage Loan Principal Balances
---------------------------------------------------------------------------------------------------------------
Range of Current Mortgage CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan Principal Balances BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
---------------------------------------------------------------------------------------------------------------
$350,000.01 to $400,000.00 $33,180,962 86 12.99% $385,825 5.961% 360 719 72.90%
---------------------------------------------------------------------------------------------------------------
$400,000.01 to $450,000.00 37,184,981 88 14.56 422,557 5.966 360 724 76.80
---------------------------------------------------------------------------------------------------------------
$450,000.01 to $500,000.00 36,307,933 76 14.22 477,736 6.000 360 719 76.21
---------------------------------------------------------------------------------------------------------------
$500,000.01 to $550,000.00 27,799,182 53 10.89 524,513 5.844 360 720 75.87
---------------------------------------------------------------------------------------------------------------
$550,000.01 to $600,000.00 16,004,560 28 6.27 571,591 5.770 360 741 72.60
---------------------------------------------------------------------------------------------------------------
$600,000.01 to $650,000.00 24,639,046 39 9.65 631,770 5.791 360 735 73.50
---------------------------------------------------------------------------------------------------------------
$650,000.01 to $700,000.00 9,517,170 14 3.73 679,798 5.770 360 704 68.56
---------------------------------------------------------------------------------------------------------------
$700,000.01 to $750,000.00 7,248,264 10 2.84 724,826 5.749 360 725 74.75
---------------------------------------------------------------------------------------------------------------
$750,000.01 to $1,000,000.00 40,576,815 45 15.89 901,707 5.763 360 730 64.60
---------------------------------------------------------------------------------------------------------------
$1,000,000.01 to $1,500,000.00 17,659,750 14 6.92 1,261,411 5.917 360 716 63.58
---------------------------------------------------------------------------------------------------------------
$1,500,000.01 to $2,000,000.00 1,750,000 1 0.69 1,750,000 6.250 360 723 70.00
---------------------------------------------------------------------------------------------------------------
$2,000,000.01 or greater 3,500,000 1 1.37 3,500,000 5.750 360 700 50.00
---------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
---------------------------------------------------------------------------------------------------------------
Geographic Distributions of Mortgaged Properties
----------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
State BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
----------------------------------------------------------------------------------------------------------------------------------
Arizona $7,890,950 14 3.09% $563,639 5.713% 360 717 75.40%
California 131,665,559 238 51.56 553,217 5.828 360 724 70.71
Colorado 4,298,300 7 1.68 614,043 5.781 360 712 73.38
Connecticut 1,460,350 2 0.57 730,175 5.444 360 734 76.06
Delaware 461,850 1 0.18 461,850 6.625 360 699 80.00
District of Columbia 1,701,200 3 0.67 567,067 5.676 360 739 73.78
Florida 29,134,133 50 11.41 582,683 6.056 360 716 70.19
Georgia 7,686,689 14 3.01 549,049 5.890 360 725 76.57
Hawaii 2,739,000 5 1.07 547,800 5.807 360 742 70.60
Illinois 6,279,150 8 2.46 784,894 6.038 360 724 72.13
Maryland 9,587,212 18 3.75 532,623 5.836 360 718 73.23
Massachusetts 7,219,200 11 2.83 656,291 6.109 360 719 67.13
Michigan 2,334,600 5 0.91 466,920 5.922 360 690 78.21
Minnesota 3,931,600 7 1.54 561,657 6.040 360 706 74.49
Missouri 2,403,000 4 0.94 600,750 5.702 360 747 74.39
Nevada 2,437,770 4 0.95 609,443 5.870 360 730 80.69
New Jersey 4,080,250 6 1.60 680,042 5.789 360 727 66.46
New Mexico 800,000 1 0.31 800,000 5.250 360 769 40.00
New York 4,928,250 10 1.93 492,825 6.175 360 744 75.11
North Carolina 686,000 1 0.27 686,000 6.125 360 748 80.00
Ohio 552,000 1 0.22 552,000 6.625 360 716 80.00
Oregon 1,572,300 4 0.62 393,075 6.106 360 716 76.87
Pennsylvania 528,000 1 0.21 528,000 5.250 360 791 80.00
South Carolina 2,233,000 3 0.87 744,333 5.985 360 724 72.58
Tennessee 1,002,800 2 0.39 501,400 6.521 360 705 80.00
Texas 2,008,650 4 0.79 502,163 5.295 360 765 66.44
Utah 398,000 1 0.16 398,000 5.250 360 670 80.00
Virginia 12,763,950 25 5.00 510,558 5.974 360 729 79.14
Washington 2,094,900 4 0.82 523,725 5.570 360 744 74.38
Wisconsin 490,000 1 0.19 490,000 5.875 360 688 78.40
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Original Loan-to-Value Ratios
-------------------------------------------------------------------------------------------------------------------------------
Range of Original CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan-to-Value Ratios BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
0.01% to 50.00% $16,992,000 19 6.65% $894,316 5.519% 360 733 42.18%
50.01% to 55.00% 6,543,400 11 2.56 594,855 5.835 360 730 53.02
55.01% to 60.00% 12,525,780 22 4.90 569,354 5.584 360 724 58.39
60.01% to 65.00% 31,518,662 48 12.34 656,639 5.695 360 734 63.66
65.01% to 70.00% 28,476,850 42 11.15 678,020 5.930 360 720 69.11
70.01% to 75.00% 25,463,370 42 9.97 606,271 5.804 360 725 73.63
75.01% to 80.00% 129,092,600 260 50.55 496,510 5.985 360 720 79.71
80.01% to 85.00% 892,500 2 0.35 446,250 6.274 360 713 85.00
85.01% to 90.00% 3,076,200 7 1.20 439,457 6.298 360 720 89.09
90.01% to 95.00% 787,300 2 0.31 393,650 6.834 360 723 94.40
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Current Mortgage Rates
-------------------------------------------------------------------------------------------------------------------------------
Range of Current CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
3.501% to 4.000% $416,000 1 0.16% $416,000 4.000% 360 684 65.02%
4.001% to 4.500% 1,727,125 3 0.68 575,708 4.384 360 757 68.79
4.501% to 5.000% 12,022,143 22 4.71 546,461 4.923 360 747 69.28
5.001% to 5.500% 50,947,729 88 19.95 578,951 5.362 360 739 66.52
5.501% to 6.000% 104,398,201 182 40.88 573,616 5.798 360 724 71.56
6.001% to 6.500% 62,372,014 108 24.42 577,519 6.275 360 715 74.77
6.501% to 7.000% 16,052,250 35 6.29 458,636 6.722 360 697 78.82
7.001% to 7.500% 5,175,500 11 2.03 470,500 7.204 360 695 79.14
7.501% to 8.000% 2,257,700 5 0.88 451,540 7.749 360 709 80.66
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Property Type
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Property Type BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
Single Family Residence $160,645,782 284 62.91% $565,654 5.872% 360 722 72.02%
PUD 55,055,508 93 21.56 591,995 5.756 360 724 71.74
Condo 18,812,434 36 7.37 522,568 6.068 360 723 74.70
2-4 Family 18,718,938 38 7.33 492,604 6.082 360 738 68.94
Townhouse 2,136,000 4 0.84 534,000 5.961 360 720 67.49
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Loan Purpose
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan Purpose BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
Purchase $131,320,987 237 51.42% $554,097 5.972% 360 726 75.87%
Refinance - Cashout 83,722,646 148 32.79 565,694 5.870 360 720 67.37
Refinance - Rate Term 40,325,030 70 15.79 576,072 5.587 360 724 68.34
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Occupancy
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Occupancy BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
Primary $211,559,318 379 82.84% $558,204 5.850% 360 721 72.91%
Investment 23,052,588 43 9.03 536,107 6.076 360 738 65.05
Second Home 20,756,756 33 8.13 628,993 5.944 360 730 69.17
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Remaining Months to Scheduled Maturity
-------------------------------------------------------------------------------------------------------------------------------
Remaining Months CURRENT # OF % OF AVERAGE GROSS REMG ORIG
to Scheduled Maturity BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
360 $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Documentation
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Documentation BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
Stated $141,947,832 254 55.59% $558,850 5.889% 360 723 72.01%
Full 70,604,710 123 27.65 574,022 5.625 360 728 73.10
No Ratio 22,822,921 36 8.94 633,970 6.211 360 711 70.56
No Documentation 11,620,550 26 4.55 446,944 6.270 360 730 69.00
NINA 8,372,650 16 3.28 523,291 6.359 360 718 67.27
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Credit Scores
-------------------------------------------------------------------------------------------------------------------------------
Range of CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Credit Scores BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
601 to 620 $427,400 1 0.17% $427,400 6.875% 360 620 74.99%
621 to 640 2,609,000 6 1.02 434,833 6.102 360 633 76.82
641 to 660 10,515,831 15 4.12 701,055 6.017 360 652 69.27
661 to 680 25,529,742 50 10.00 510,595 6.124 360 672 75.40
681 to 700 44,392,766 79 17.38 561,934 6.030 360 691 71.67
701 to 720 41,655,297 72 16.31 578,546 5.904 360 710 72.58
721 to 740 39,109,970 70 15.32 558,714 5.803 360 730 72.93
741 to 760 35,281,672 64 13.82 551,276 5.827 360 751 72.06
761 to 780 33,248,698 56 13.02 593,727 5.746 360 769 70.69
781 to 800 17,646,437 33 6.91 534,741 5.537 360 790 71.23
801 to 820 4,951,850 9 1.94 550,206 5.564 360 808 53.78
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Original Prepayment Penalty Term
-------------------------------------------------------------------------------------------------------------------------------
Original Prepayment Penalty Term CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Penalty Term BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
None $174,414,343 309 68.30% $564,448 5.905% 360 725 71.95%
12 Months 3,826,920 7 1.50 546,703 6.041 360 716 76.56
24 Months 1,086,000 2 0.43 543,000 6.263 360 734 80.00
36 Months 76,041,399 137 29.78 555,047 5.801 360 722 71.42
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
80% LTV - PMI Analysis
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
80% LTV - PMI Analysis BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
>80% LTV, with MI $4,756,000 11 100.00% $432,364 6.382% 360 719 89.20%
-------------------------------------------------------------------------------------------------------------------------------
Total: $4,756,000 11 100.00% $432,364 6.382% 360 719 89.20%
-------------------------------------------------------------------------------------------------------------------------------
Months to Roll
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Months to Roll BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
60 $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Gross Margins
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of Gross Margins BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
2.001% to 2.500% $160,310,815 295 62.78% $543,426 5.792% 360 724 71.93%
2.501% to 3.000% 93,015,398 155 36.42 600,099 6.003 360 725 71.70
3.001% to 3.500% 1,204,050 3 0.47 401,350 6.970 360 681 76.65
3.501% to 4.000% 408,000 1 0.16 408,000 7.250 360 690 80.00
4.501% to 5.000% 430,400 1 0.17 430,400 6.250 360 691 80.00
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
======================================== ============ ================== ======== ========= ======= ============= ==== ========
Maximum Mortgage Rates
-------------------------------------------------------------------------------------------------------------------------------
Range of Maximum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
9.001% to 9.500% $1,727,125 3 0.68% $575,708 4.384% 360 757 68.79%
9.501% to 10.000% 8,801,433 17 3.45 517,731 4.904 360 743 67.22
10.001% to 10.500% 26,855,880 47 10.52 571,402 5.372 360 737 68.97
10.501% to 11.000% 25,730,472 51 10.08 504,519 5.654 360 727 75.12
11.001% to 11.500% 39,663,598 69 15.53 574,835 5.725 360 732 68.22
11.501% to 12.000% 88,475,039 151 34.65 585,927 5.868 360 723 71.07
12.001% to 12.500% 49,942,865 86 19.56 580,731 6.332 360 712 75.01
12.501% to 13.000% 9,881,650 21 3.87 470,555 6.697 360 690 79.25
13.001% to 13.500% 2,032,900 5 0.80 406,580 7.038 360 696 78.02
13.501% to 14.000% 2,257,700 5 0.88 451,540 7.749 360 709 80.66
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Next Rate Adjustment Date
-------------------------------------------------------------------------------------------------------------------------------
Next Rate CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Adjustment Date BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
September 2010 $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Initial Fixed Period
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Fixed Period BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
60 255,368,663 455 1.00 561,250 0.059 360 724 0.72
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Maximum Mortgage Rates
-------------------------------------------------------------------------------------------------------------------------------
Range of Minimum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
2.001% to 2.500% $160,310,815 295 62.78% $543,426 5.792% 360 724 71.93%
2.501% to 3.000% 93,015,398 155 36.42 600,099 6.003 360 725 71.70
3.001% to 3.500% 1,204,050 3 0.47 401,350 6.970 360 681 76.65
3.501% to 4.000% 408,000 1 0.16 408,000 7.250 360 690 80.00
4.501% to 5.000% 430,400 1 0.17 430,400 6.250 360 691 80.00
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Initial Cap
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
2.000% $11,368,270 22 4.45% $516,740 5.798% 360 705 74.41%
3.000% 430,400 1 0.17 430,400 6.250 360 691 80.00
5.000% 177,958,947 316 69.69 563,161 5.891 360 726 72.07
6.000% 65,611,045 116 25.69 565,612 5.852 360 721 70.92
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
Subsequent Cap
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Subsequent Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
1.000% $78,668,717 138 30.81% $570,063 5.921% 360 724 72.52%
2.000% 176,699,946 317 69.19 557,413 5.859 360 723 71.61
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
DTI
-------------------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of DTI BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------------------------
No DTI $40,832,011 74 15.99% $551,784 6.252% 360 717 68.76%
0.01% to 5.00% 553,710 1 0.22 553,710 5.000 360 772 80.00
5.01% to 10.00% 3,023,000 5 1.18 604,600 5.556 360 750 51.75
10.01% to 15.00% 770,250 2 0.30 385,125 5.402 360 768 63.23
15.01% to 20.00% 7,324,200 7 2.87 1,046,314 5.752 360 720 54.86
20.01% to 25.00% 10,917,720 20 4.28 545,886 5.815 360 716 74.18
25.01% to 30.00% 21,980,069 38 8.61 578,423 5.759 360 733 67.40
30.01% to 35.00% 30,938,785 53 12.12 583,751 5.849 360 726 72.11
35.01% to 40.00% 53,099,132 96 20.79 553,116 5.775 360 725 72.87
40.01% to 45.00% 54,826,715 105 21.47 522,159 5.813 360 726 76.35
45.01% to 50.00% 24,214,240 43 9.48 563,122 5.910 360 715 75.84
50.01% to 55.00% 5,942,830 9 2.33 660,314 5.870 360 718 69.55
55.01% or greater 946,000 2 0.37 473,000 5.750 360 728 76.27
-------------------------------------------------------------------------------------------------------------------------------
Total: $255,368,663 455 100.00% $561,250 5.878% 360 724 71.89%
-------------------------------------------------------------------------------------------------------------------------------
COMPUTATIONAL MATERIALS FOR
[LOGO OMITTED] ▇▇▇▇▇▇▇ ▇▇▇▇▇ INDX 2005-AR23
-------------------------------------------------------------------------------
RMBS New Transaction
IndyMac INDX Mortgage Loan Trust 2005-AR23
Computational Materials
$[1,110,000,000] (approximate)
IndyMac MBS, Inc.
Depositor
[GRAPHIC OMITTED]IndyMac Bank(SM)
Seller and Master Servicer
August [18], 2005
------------------------------------------------------------------------------
Recipients must read the information contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement. 1
COMPUTATIONAL MATERIALS FOR
[LOGO OMITTED] ▇▇▇▇▇▇▇ ▇▇▇▇▇ INDX 2005-AR23
-------------------------------------------------------------------------------
IMPORTANT NOTICES
This document and the information contained herein (the "Computational
Materials") are confidential and may not be used by or disclosed to any person
other than the person to whom they were originally delivered and such person's
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the foregoing, except to the extent necessary to comply with applicable
securities laws, any recipient of these Computational Materials may disclose
to any and all persons, without limitation of any kind, the federal income tax
treatment and tax structure of the securities described herein, any fact
relevant to understanding the federal tax treatment or tax structure of the
issuer or the securities, and all materials of any kind relating to such
federal tax treatment and structure, other than the identity of the issuer and
information that would permit the identification of the issuer.
These Computational Materials are furnished to you solely by ▇▇▇▇▇▇▇ ▇▇▇▇▇,
▇▇▇▇▇▇, ▇▇▇▇▇▇ & ▇▇▇▇▇ Incorporated ("▇▇▇▇▇▇▇ ▇▇▇▇▇") and not by the issuer of
the securities. The issuer of these securities has not prepared or taken part
in the preparation of these materials. None of ▇▇▇▇▇▇▇ ▇▇▇▇▇, the issuer of
the securities nor any of their affiliates makes any representation as to the
accuracy or completeness of the information herein. The information herein is
preliminary, and will be superseded by the applicable prospectus supplement
and by any other information subsequently filed with the Securities and
Exchange Commission.
Numerous assumptions were used in preparing the Computational Materials which
may or may not be stated therein. As such, no assurance can be given as to the
accuracy, appropriateness or completeness of the Computational Materials in
any particular context; or as to whether the Computational Materials and/or
the assumptions upon which they are based reflect present market conditions or
future market performance. The Computational Materials should not be construed
as either projections or predictions or as legal, tax, financial or accounting
advice.
Any yields or weighted average lives shown in the Computational Materials are
based on prepayment assumptions and actual prepayment experience may
dramatically affect such yields or weighted average lives. In addition, it is
possible that prepayments on the underlying assets will occur at rates slower
or faster than the rates assumed in the Computational Materials. Furthermore,
unless otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of
the securities may differ from those shown in the Computational Materials due
to differences between the actual underlying assets and the hypothetical
assets used in preparing the Computational Materials. The principal amount and
designation of any security described in the Computational Materials are
subject to change prior to issuance.
Although a registration statement (including the prospectus) relating to the
securities discussed in these Computational Materials has been filed with the
Securities and Exchange Commission and is effective, the final prospectus
supplement relating to the securities has not been filed with the Securities
and Exchange Commission. These Computational Materials shall not constitute an
offer to sell or the solicitation of any offer to buy nor shall there be any
sale of the securities discussed in these Computational Materials in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
Prospective purchasers are referred to the final prospectus and prospectus
supplement relating to the securities discussed in these Computational
Materials for definitive information on any matter discussed herein. A final
prospectus and prospectus supplement may be obtained by contacting the ▇▇▇▇▇▇▇
▇▇▇▇▇ Trading Desk at (▇▇▇) ▇▇▇-▇▇▇▇.
Please be advised that asset-backed securities may not be appropriate for all
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market price volatility, prepayments, yield curve and interest rate risk.
Investors should fully consider the risk of an investment in these securities.
-------------------------------------------------------------------------------
Recipients must read ~ the information ~ contained in the Important Notices
section following the cover page of these Computational Materials. Do not use
or rely on the information contained in these Computational Materials if you
have not received or reviewed the Important Notices section. If you have not
received the Important Notices section, call your ▇▇▇▇▇▇▇ ▇▇▇▇▇ account
executive for another copy. The information set forth in these Computational
Materials supersedes any previously distributed information relating to the
securities described herein and will be superseded by the information set
forth in the final prospectus supplement.
2
Summary of Loans in Statistical Calculation Pool
(As of Calculation Date)
Range
----------------
Total Number of Loans 267
Total Outstanding Balance $95,614,618
Average Loan Balance $358,107 $27,000 to $1,532,000
WA Mortgage Rate 5.948% 4.625% to 9.750%
WA Mortgage Rate Net LPMI 5.948% 4.625% to 9.750%
Net WAC 5.566% 4.243% to 9.368%
ARM Characeristics
WA Gross Margin 2.604% 2.250% to 2.750%
WA Months to First Roll 84 84 to 84
WA First Periodic Cap 5.046% 5.000% to 6.000%
WA Subsequent Periodic Cap 1.285% 1.000% to 2.000%
WA Lifetime Cap 11.608% 9.625% to 15.750%
WA Lifetime Floor 2.604% 2.250% to 2.750%
WA Original Term (months) 360 360 to 360
WA Remaining Term (months) 360 360 to 360
WA Age (months) 0 0 to 0
WA LTV 70.80% 18.64% to 95.00%
WA FICO 717
WA DTI% 35.25%
Secured by (% of pool) 1st Liens 100.00%
2nd Liens 0.00%
Prepayment Penalty at Loan Orig 21.15%
(% of all loans)
Prepay Moves Exempted Soft 21.15%
Hard Prepay 0.00%
No Prepay 78.85%
Unknown Prepay 0.00%
Percent of IO 90.18%
-----------------------------------------------------------------------------------------------------------------------------------
Top 5
Top 5 States Property Types Documentation Purpose
-----------------------------------------------------------------------------------------------------------------------------------
California 45.30% Single Family Residence 64.29% Stated 52.05% Purchase 39.90%
Florida 8.61 PUD 17.48 Full 35.00 Refinance - Rate Term 31.51
Virginia 5.09 Condo 9.76 No Ratio 5.83 Refinance - Cashout 28.59
Maryland 4.97 2-4 Family 5.53 No Documentation 4.03
New Jersey 3.44 Townhouse 2.93 NINA 3.09
---------------------------------------------------------------------------------------------------------------------------
Occupancy Original Penalty
------------------------------------------------------------------------
California Primary 85.51% None 78.85%
Florida Investment 9.41 12 Months 3.39
Virginia Second Home 5.09 36 Months 17.76
Maryland
New Jersey
------------------------
Product Types
-------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Product Types BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------
7/1 LIBOR Loans $2,666,600 8 2.79% $333,325 5.690% 360 741 80.18%
7/1 LIBOR Loans-IO 10,879,390 26 11.38 418,438 5.630 360 735 73.37
7/1 Treasury Loans 1,449,750 2 1.52 724,875 6.350 360 701 76.61
7/1 Treasury Loans-IO 5,705,500 11 5.97 518,682 5.443 360 751 71.54
7/6 LIBOR Loans 5,270,393 23 5.51 229,148 6.152 360 682 68.70
-------------------------------------------------------------------------------------------------------------
7/6 LIBOR Loans-IO 69,642,985 197 72.84 353,518 6.025 360 714 70.02
-------------------------------------------------------------------------------------------------------------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------------------------------------------------------------------------------
Current Mortgage Loan Principal Balances
-------------------------------------------------------------------------------------------------------------
Range of Current Mortgage CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan Principal Balances BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------
$0.01 to $50,000.00 $420,000 12 0.44% $35,000 6.625% 360 687 75.00%
$50,000.01 to $100,000.00 580,004 7 0.61 82,858 7.192 360 693 76.27
$100,000.01 to $150,000.00 2,698,734 22 2.82 122,670 6.474 360 705 72.04
$150,000.01 to $200,000.00 6,416,201 36 6.71 178,228 6.259 360 713 76.36
$200,000.01 to $250,000.00 5,799,090 26 6.07 223,042 6.129 360 706 73.94
$250,000.01 to $300,000.00 5,977,719 22 6.25 271,715 5.951 360 709 74.44
$300,000.01 to $350,000.00 4,543,150 14 4.75 324,511 5.990 360 728 69.65
$350,000.01 to $400,000.00 11,958,820 32 12.51 373,713 5.945 360 727 72.72
$400,000.01 to $450,000.00 7,223,325 17 7.55 424,901 6.034 360 724 72.88
$450,000.01 to $500,000.00 9,985,060 21 10.44 475,479 5.720 360 724 71.84
$500,000.01 to $550,000.00 7,346,350 14 7.68 524,739 5.937 360 715 70.03
$550,000.01 to $600,000.00 5,773,900 10 6.04 577,390 5.846 360 719 70.07
$600,000.01 to $650,000.00 6,977,000 11 7.3 634,273 5.684 360 736 66.92
$650,000.01 to $700,000.00 3,380,865 5 3.54 676,173 5.856 360 705 71.49
$700,000.01 to $750,000.00 1,457,600 2 1.52 728,800 5.750 360 699 70.73
$750,000.01 to $1,000,000.00 12,164,800 14 12.72 868,914 5.849 360 704 65.64
$1,000,000.01 to $1,500,000.00 1,380,000 1 1.44 1,380,000 6.125 360 708 60.00
$1,500,000.01 to $2,000,000.00 1,532,000 1 1.6 1,532,000 6.000 360 737 61.28
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Geographic Distributions of Mortgaged Properties
----------------------------------------------------------------------------------------------------------------------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
State BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
----------------------------------------------------------------------------------------------------------------------
Alabama $832,560 3 0.87% $277,520 6.622% 360 698 80.00%
Alaska 208,000 1 0.22 208,000 7.500 360 768 80.00
Arizona 1,745,014 7 1.83 249,288 6.179 360 749 75.82
California 43,309,213 87 45.30 497,807 5.831 360 715 66.76
Colorado 1,890,632 7 1.98 270,090 5.741 360 686 75.57
Connecticut 104,000 1 0.11 104,000 5.625 360 653 59.43
Delaware 130,900 1 0.14 130,900 5.750 360 768 78.86
District of Columbia 373,520 1 0.39 373,520 6.875 360 671 80.00
Florida 8,229,865 33 8.61 249,390 6.378 360 716 80.50
Georgia 1,600,250 7 1.67 228,607 5.992 360 718 79.45
Hawaii 2,219,675 5 2.32 443,935 5.827 360 700 65.36
Idaho 342,000 1 0.36 342,000 5.750 360 698 94.74
Illinois 2,719,500 6 2.84 453,250 6.064 360 692 67.18
Indiana 76,000 1 0.08 76,000 9.750 360 627 80.00
Kentucky 138,000 1 0.14 138,000 6.500 360 673 80.00
Maryland 4,747,300 15 4.97 316,487 6.047 360 724 75.11
Massachusetts 1,473,100 4 1.54 368,275 5.696 360 733 72.06
Michigan 2,029,000 7 2.12 289,857 5.716 360 755 74.77
Minnesota 930,000 2 0.97 465,000 5.901 360 744 71.72
Nevada 3,056,070 8 3.20 382,009 5.949 360 719 73.21
New Jersey 3,287,500 7 3.44 469,643 5.920 360 685 71.05
New Mexico 767,000 3 0.80 255,667 6.799 360 677 77.16
New York 3,095,584 8 3.24 386,948 5.922 360 736 58.71
North Carolina 425,000 1 0.44 425,000 5.375 360 775 69.44
Ohio 195,000 1 0.20 195,000 6.750 360 639 70.91
Oklahoma 110,400 1 0.12 110,400 7.500 360 675 80.00
Oregon 1,335,650 6 1.40 222,608 5.882 360 712 77.95
Pennsylvania 108,000 1 0.11 108,000 7.750 360 697 80.00
Rhode Island 189,000 1 0.20 189,000 6.125 360 787 71.05
South Carolina 685,200 2 0.72 342,600 6.682 360 785 79.95
Tennessee 151,920 1 0.16 151,920 6.500 360 688 80.00
Texas 2,125,575 18 2.22 118,088 6.011 360 742 78.36
Virginia 4,867,190 13 5.09 374,399 5.879 360 718 75.11
Washington 1,149,000 4 1.20 287,250 5.520 360 757 70.68
Wisconsin 500,000 1 0.52 500,000 6.125 360 704 62.50
Wyoming 468,000 1 0.49 468,000 5.250 360 786 80.00
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Original Loan-to-Value Ratios
Range of Original CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan-to-Value Ratios BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
0.01% to 50.00% $6,010,150 18 6.29% $333,897 5.780% 360 704 40.70%
50.01% to 55.00% 1,333,500 3 1.39 444,500 5.810 360 711 53.14
55.01% to 60.00% 7,216,035 14 7.55 515,431 5.730 360 717 58.65
60.01% to 65.00% 13,727,200 30 14.36 457,573 5.765 360 727 63.10
65.01% to 70.00% 15,233,780 29 15.93 525,303 5.801 360 724 68.20
70.01% to 75.00% 10,674,525 36 11.16 296,515 6.031 360 696 73.34
75.01% to 80.00% 37,716,253 123 39.45 306,636 6.095 360 720 79.55
85.01% to 90.00% 1,436,350 6 1.50 239,392 6.716 360 702 89.72
90.01% to 95.00% 2,266,825 8 2.37 283,353 5.943 360 708 94.30
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Current Mortgage Rates
Range of Current CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
4.501% to 5.000% $2,508,400 6 2.62% $418,067 4.901% 360 750 70.77%
5.001% to 5.500% 15,438,000 37 16.15 417,243 5.398 360 738 66.65
5.501% to 6.000% 48,539,540 111 50.77 437,293 5.776 360 722 69.74
6.001% to 6.500% 17,789,119 59 18.61 301,510 6.338 360 696 73.12
6.501% to 7.000% 7,340,295 38 7.68 193,166 6.793 360 696 76.22
7.001% to 7.500% 2,737,864 10 2.86 273,786 7.309 360 708 80.16
7.501% to 8.000% 1,185,400 5 1.24 237,080 7.910 360 658 77.81
9.501% to 10.000% 76,000 1 0.08 76,000 9.750 360 627 80.00
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Property Type
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Property Type BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
Single Family Residence $61,470,570 157 64.29% $391,532 5.945% 360 714 70.80%
PUD 16,717,405 47 17.48 355,689 5.817 360 727 70.76
Condo 9,330,668 42 9.76 222,159 6.076 360 719 76.47
2-4 Family 5,290,150 13 5.53 406,935 6.054 360 703 63.88
Townhouse 2,805,825 8 2.93 350,728 6.170 360 734 65.20
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Loan Purpose
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Loan Purpose BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
Purchase $38,154,158 132 39.90% $289,047 6.055% 360 725 76.75%
Refinance - Rate Term 30,127,300 67 31.51 449,661 5.747 360 713 66.86
Refinance - Cashout 27,333,160 68 28.59 401,958 6.020 360 710 66.85
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Occupancy
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Occupancy BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
Primary $81,756,489 214 85.51% $382,040 5.906% 360 718 71.61%
Investment 8,995,939 41 9.41 219,413 6.390 360 698 64.03
Second Home 4,862,190 12 5.09 405,183 5.839 360 746 69.66
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Remaining Months to Scheduled Maturity
Remaining Months CURRENT # OF % OF AVERAGE GROSS REMG ORIG
to Scheduled Maturity BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
360 $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Documentation
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Documentation BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
Stated $49,766,631 145 52.05% $343,218 5.998% 360 714 69.74%
Full 33,468,587 82 35.00 408,154 5.694 360 728 72.38
No Ratio 5,575,200 15 5.83 371,680 6.300 360 693 72.96
No Documentation 3,853,650 14 4.03 275,261 6.773 360 710 71.30
NINA 2,950,550 11 3.09 268,232 6.248 360 703 66.08
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
Credit Scores
-------------------------------------------------------------------------------------------------------------
Range of CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Credit Scores BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------------------------------------------------------------------------------
601 to 620 $518,400 3 0.54% $172,800 6.863% 360 620 80.00%
621 to 640 6,728,660 19 7.04 354,140 6.217 360 630 70.37
641 to 660 7,052,950 23 7.38 306,650 6.343 360 651 71.80
661 to 680 10,491,555 26 10.97 403,521 5.942 360 670 70.16
681 to 700 11,570,862 45 12.10 257,130 6.185 360 693 74.40
701 to 720 12,117,979 28 12.67 432,785 5.950 360 709 67.49
721 to 740 13,232,036 33 13.8 4400,971 5.885 360 732 70.10
741 to 760 13,956,687 33 14.60 422,930 5.733 360 752 70.44
761 to 780 9,516,414 29 9.95 328,152 5.695 360 771 70.46
781 to 800 9,460,725 24 9.89 394,197 5.730 360 789 71.91
801 to 820 968,350 4 1.01 242,088 6.513 360 811 74.23
---------------------------------------------------------------------------------------------------------------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------------------------------------------------------------------------------
Original Prepayment Penalty Term
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Original Prepayment CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Penalty Term BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
None $75,392,157 191 78.85% $394,723 5.909% 360 720 70.39%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
12 Months 3,242,875 11 3.39 294,807 5.764 360 723 63.76
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
36 Months 16,979,586 65 17.76 261,224 6.155 360 705 73.97
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
80% LTV - PMI Analysis
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
80% LTV - PMI Analysis BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
>80% LTV, with MI $3,703,175 14 100.00% $264,513 6.243% 360 706 92.52%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $3,703,175 14 100.00% $264,513 6.243% 360 706 92.52%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Months to Roll
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Months to Roll BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
84 $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Gross Margins
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of Gross Margins BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.001% to 2.500% $27,935,690 64 29.22% $436,495 5.665% 360 731 72.40%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.501% to 3.000% 67,678,928 203 70.78 333,394 6.065 360 711 70.14
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Maximum Mortgage Rates
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Range of Maximum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
9.501% to 10.000% $2,216,900 5 2.32% $443,380 4.887% 360 763 70.95%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
10.001% to 10.500% 10,279,300 23 10.75 446,926 5.381 360 749 69.20
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
10.501% to 11.000% 19,847,540 42 20.76 472,560 5.727 360 731 73.83
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
11.001% to 11.500% 5,551,750 16 5.81 346,984 5.491 360 715 63.22
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
11.501% to 12.000% 29,099,000 71 30.43 409,845 5.806 360 715 66.99
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
12.001% to 12.500% 17,396,069 57 18.19 305,194 6.340 360 696 72.86
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
12.501% to 13.000% 7,224,795 37 7.56 195,265 6.792 360 695 76.15
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
13.001% to 13.500% 2,737,864 10 2.86 273,786 7.309 360 708 80.16
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
13.501% to 14.000% 1,185,400 5 1.24 237,080 7.910 360 658 77.81
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
15.501% to 16.000% 76,000 1 0.08 76,000 9.750 360 627 80.00
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Next Rate Adjustment Date
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Next Rate CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Adjustment Date BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
September 2012 $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2
Initial Fixed Period
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Fixed Period BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
84 $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Minimum Mortgage Rates
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Range of Minimum CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Mortgage Rates BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.001% to 2.500% $27,935,690 64 29.22% $436,495 5.665% 360 731 72.40%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.501% to 3.000% 67,678,928 203 70.78 333,394 6.065 360 711 70.14
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Initial Cap
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Initial Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
5.000% $91,222,268 259 95.41% $352,210 5.946% 360 717 70.90%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
6.000% 4,392,350 8 4.59 549,044 5.991 360 716 68.73
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
Subsequent Cap
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Subsequent Cap BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
1.000% $68,378,228 208 71.51% $328,741 6.072% 360 709 70.31%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
2.000% 27,236,390 59 28.49 461,634 5.637 360 738 72.04
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------------------------------------------------------------------------------------------------
DTI
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
CURRENT # OF % OF AVERAGE GROSS REMG ORIG
Range of DTI BALANCE LOANS TOTAL BALANCE WAC TERM FICO LTV
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
0.00% or less $11,714,470 37 12.25% $316,607 6.439% 360 701 71.49%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
0.01% to 5.00% 553,000 2 0.58 276,500 6.339 360 699 56.47
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
5.01% to 10.00% 1,413,750 3 1.48 471,250 6.664 360 687 48.90
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
10.01% to 15.00% 983,500 3 1.03 327,833 5.553 360 756 67.87
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
15.01% to 20.00% 1,956,516 4 2.05 489,129 5.650 360 737 72.56
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
20.01% to 25.00% 6,472,520 17 6.77 380,736 5.905 360 728 65.42
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
25.01% to 30.00% 8,572,395 35 8.97 244,926 5.746 360 743 68.98
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
30.01% to 35.00% 13,478,883 34 14.10 396,438 5.804 360 717 72.53
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
35.01% to 40.00% 22,631,459 55 23.67 411,481 5.851 360 722 70.93
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
40.01% to 45.00% 19,720,380 59 20.62 334,244 6.046 360 705 72.32
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
45.01% to 50.00% 7,052,245 15 7.38 470,150 5.738 360 722 74.41
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
50.01% to 55.00% 1,065,500 3 1.11 355,167 5.662 360 695 69.96
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------
Total: $95,614,618 267 100.00% $358,107 5.948% 360 717 70.80%
-------------------------------------- ------------ ----------------- --------- --------- -------- ------------ ------ --------